Inside Edge Winter 08/09 Newsletter

SLiFer SMitH & Fr A M P t O n r e A L e S tAt e

i nSi De eDGe

News from the most trusted name in Vail Valley real estate since 1962

www.VailRealEstate.com

winter 2008-2009 in this issue >>

Real estate market update

2

Market watch

4

On the web

5

By the numbers

6

Plan for summer

7

Winter flights to Eagle County

7

New developments around the Vail Valley

8

Calendar of events

10

Real estate market update It’s no secret that the American economy has been on a roller coaster ride this past year. One day the stock market takes a jaw-dropping dip and the next minute our gas prices return to more reasonable levels giving us hope that economic conditions will improve soon.

While it’s impossible to predict when our overall economy will improve and become stable on multiple fronts (including the real estate market), it is possible to look at history and find comfort in how well the Eagle County real estate market has performed and continues to perform. While the national economy has taken us on a wild ride, Eagle County real estate is more reminiscent of a pleasant Sunday drive.

Year-to-date through October 2008, Eagle County statistics show 1,384 transactions have closed county-wide with a total sales volume of approximately $1.8 billion.

These numbers are down from record sales year 2007 and very similar to sales dollar 2 | i nSiDe eDGe

volume levels seen in 2004 by the county. While the

calendar year 2007 at approximately $1 million).

well as several listings to choose from in one of the

numbers are off from the same timeframe a year

The residential transactions for Eagle County break

finest mountain resort communities in the world.

ago (2,349 transactions closed and $2.5 billion in

down as:

The Vail Valley will always be a place where the

sales volume), those were record numbers for Eagle

lifestyle is unique and refreshing, and continues to

County. During the past year, our local real estate

• 64% of transactions were $1 million and under

market has seen a steady number of transactions

• 16% of transactions were over $1 million and

and sales volume, a fact that shouldn’t be lost due to the incredible year the county enjoyed last year.

under $2 million • 20% of transactions were over $2 million

prove itself as a strong real estate market.

“With the incredible new snow we’ve been receiving, I expect that we will see many people coming to the Vail Valley this ski season,” said Jim Flaum, President

Another strong statistic for the Eagle County

• There were a total of 79 transactions year-to-date

and Managing Broker of Slifer Smith & Frampton. “I

market is the average sales price. The average

closing for $4 million and more

am confident that some of these guests will realize

sales price continues to increase annually and is

the great buying opportunities that now exist in Vail

currently recorded at nearly $1.3 million year-to-

Our current market offers a time for smart buyers

date (compared with the average sales price for

to take advantage of low interest rate financing, as

Valley real estate.”

winter 2008-2009 | 3

Market watch Active listing market share by dollar volume

Eagle County active inventory 12-month trend

1%

2,600

2%

49%

3%

2,400

4% 5%

2,200 2,000

7%

1,800 1,600 1,400

28% 1,200

4 | i nSiDe eDGe

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8 ‘0

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08

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8

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‘0

08

* Does not include timeshares. Data gathered from the VBOR MLS. Information deemed reliable but not guaranteed.

M ay

r‘

08

Competitor 8

Ap

Competitor 5

8

Competitor 2

M ar ‘

Competitor 7

‘0

Competitor 4

1,000 8

Competitor 1

All Other Competitors

‘0

Competitor 6

Fe b

Competitor 3

Ja n

SSF

On the web With 80% of buyers starting their real estate search online, it is important to work with the online leaders. With most of those searches starting with Google, SSF continues to have the top presence for the key phrase, “Vail Real Estate.” Here are some other highlights: • In 2007, our award-winning website, www.vailrealestate.com, received over 1.2 million visitors from 120 countries.

• Our international exposure with our affiliate, Luxury Portfolio, expanded as the first luxury website to display property information in nine different languages and 22 currencies. Visit www.luxuryportfolio.com.

• All of our print materials are online as e-brochures at www.vailrealestate.com/realestateresources.cfm.

• Many of our clients are using “My Place” to save searches, favorite homes and set up email notifications for properties that match their criteria when they hit the market.

• In 2009, SSF is switching to a new online digital real estate contract software with electronic signature capabilities in order to make the contract process easier for our buyers and sellers.

Our transportation partner, Colorado Mountain Express, is pleased to offer you a 15% discount on your next shuttle or private chauffeured airport transfer. CME offers shared ride shuttles, charter vans and private car service to/ from the Vail Valley, Summit County, Aspen/Snowmass, Denver International and Eagle County airports. CME Premier, our private car service, provides for luxury, privately chauffeured Cadillac sedans, executive vans and four wheel drive SUVs. When placing reservations please use the discount code “6SSF” to receive your 15% discount. For reservations go to www.ridecme.com or call 1-800-525-6363. winter 2008-2009 | 5

By the numbers 1859 ........................... Year of the first documented use of skis in the state of Colorado, ..................................... near present-day Breckenridge

300 ............................. Average days of sunshine per year in the Vail Valley 776 ............................. Groomed acres per day on Beaver Creek Mountain $125,000,000 ......... Price tag on the world’s most expensive home currently on the market, ..................................... located in Beverly Hills, California

1928 ........................... Year steel-edged skis were invented 100 ............................. Average tons of waste per month recycled on Vail Mountain by Vail Resorts 10,100,000 .............. Number of people worth over $1 million in the world £89,000 .................... Cost for an Amosu Ultimo Diamond iPhone (or about $114,000) that ..................................... is handcrafted by artisans and outfitted with 1,179 diamonds

33109 ........................ The most expensive Zip Code, which belongs to Miami Beach, Florida 26 ................................ Number of ski resorts in Colorado 11 ................................ Number of ski resorts in Colorado powered 100% by wind power 1 .................................. Apple’s spot on Fortune’s list of Companies Most Admired for ..................................... Innovation, for the third straight year

1957 ........................... Year the first plastic ski boot was worn 1 .................................. The ranking of Slifer Smith & Frampton by sales volume in 2007 within

..................................... the Luxury Real Estate network of 800 real estate companies in the world Sources: Colorado Ski Museum, Colorado Springs Gazette, Forbes.com, Snow.com, Colorado.com, Wall Street Journal, LuxuryPortfolio.com, LuxuryRealEstate.com

6 | i nSiDe eDGe

Plan for summer Just when you thought it couldn’t get any better, the Bravo! Vail Valley Music Festival announces an unrivaled schedule for the 2009 season. The all-star lineup includes The Columbus Jazz Orchestra, Dallas Symphony Orchestra, The National Repertory Orchestra, The Philadelphia Orchestra, and The New York Philharmonic along with 50 internationally renowned soloists and chamber musicians. The 22nd season takes place June 26 to August 4, 2009.

For more detailed information visit www.vailmusicfestival.org

Now boarding Fly direct to Vail this winter

This winter, fly the most direct route to the heart of the Rocky Mountains on daily, non-stop large-jet flights from twelve major cities. Discover how daily flights in and out of Eagle County Airport (EGE) will eliminate long drive transfers, airport delays and parking hassles. With the time you save you will be riding the chairlift and relaxing in a mountain paradise.

For the winter 2008/09 season, Eagle County Airport offers direct flights to and from the following cities: Denver, Chicago, Los Angeles, New York La Guardia, new york Kennedy, Dallas, Houston, Miami, Newark, Atlanta, Cincinnati & Minneapolis

For a complete flight schedule, visit: www.eaglecounty.us/airport/flight.cfm winter 2008-2009 | 7

New developments around the Vail Valley Slifer Smith & Frampton Real Estate is proud to be the exclusive listing brokerage of many developments in the Vail Valley.

Vail - Four seasons Sixteen private residences in Vail Village with world renowned amenities and quality. Completion in fall of 2009.

Pricing on remaining inventory from approximately $5,000,000.

Vail - the ritZ-CarLton resiDenCes®, vaiL 71 wholly owned residences with extensive owner amenities. Twenty-four Residences remain, with pricing starting at $2,805,550.

Vail - the penthouses at Manor vaiL Seventeen spacious Penthouses offer a premier location and bring a new level of luxury to Vail Village, each with its own unique character and exceptional views of Vail Mountain and the Gore Range. Only 8 remain.

Vail - ever vaiL One of the most ambitious “green” development projects in North American resort industry to date. $1 billion project to transform 9.5-acre site in the westernmost portion of LionsHead.

Vail - torZetto New construction - Six luxury duplex residences located in East Vail. Three remain to date. Pricing starting at $2,895,000.

LionsHead - the tower resiDenCes

Riverfront Village - the westin

at Lion sQuare

riverFront resort & spa

One of the most prestigious ownership opportunities offered during Vail’s renaissance, The Tower Residences at Lion Square will offer nine of the finest residences in LionsHead. A luxurious 3-bedroom condo and two spectacular 2-story Penthouses are all that remain.

Located adjacent to the new Riverfront Express Gondola with direct ski access to Beaver Creek Mountain. Now open with full Westin services and amenities, Restaurant Avondale, Spa Anjali and more. Whole ownership Studio Suites starting at $330,000 and 2- and 3-bedroom residences starting at $975,000.

Avon - BeL Lago Bel Lago on Nottingham Lake, Avon’s finest. Be on the edge of Avon’s redevelopment with views over the lake and on to Beaver Creek. Mountain living with all the comforts.

8 | i nSiDe eDGe

Beaver Creek - THE RESIDENCES AT PARK

Bachelor Gulch - THE RESIDENTIAL SUITES

HYATT BEAVER CREEK®

AT THE RITZ-CARLTON®, BACHELOR GULCH

The luxury and amenities you have come to expect can be yours year after year at The Residences at Park Hyatt Beaver Creek®. Fifteen deeded sharedownership residences are now available to a select few. Starting at $75,000.

A limited number of whole ownership condominium suites enhanced by the legendary Ritz-Carlton® service and amenities. Studios, 1- and 2-bedrooms from $639,000.

Eagle Ranch - SYLVAN SQUARE These sixteen 2-bedroom flats are in the heart of Eagle Ranch Village within steps of fitness center, theater, restaurants and shops. Brand new, high end, priced right and in the perfect location. Come see our model. From the mid-$300,000’s.

Eagle Ranch - AIDAN’S MEADOW Single family residences with all the amenities of Eagle Ranch. Only 11 homes remain, starting at $675,000.

Edwards - SOUTH FORK MEADOWS New 4- and 5-bedroom duplex residences with big views and high end finishes, located just 1 mile west of Riverwalk in Edwards. Pricing from $959,900.

Edwards - THE POINTE Huge panoramic views highlight these custom 4- and 5-bedroom, green built single family homes overlooking Riverwalk in Edwards. Sub Zero, Wolf, Asko and Energy Star rates systems are standard.

Eagle Ranch - HIGHLANDS AT EAGLE RANCH Large, elevated custom single family homesites in Eagle Ranch’s most exclusive neighborhood, starting in the mid-$200,000’s.

Eagle Ranch - BRUSH CREEK VILLAGE A brand new master planned family community of 2, 3 and 4 bedroom townhomes and duplexes in the heart of Eagle just steps from the ice rink and all of Eagle Ranch’s amenities. Pricing starting in the mid-$400,000’s.

winter 2008-2009 | 9

Calendar of events December 4-7

Birds of Prey BC

7-12

Technique Weeks with Chris Anthony BC

12,13 Tis the Season vC 14

Charlie Daniels Band vC

8-14

Vail Snow Daze vv, Fp, Lh

18

The Vail Academy’s Christmas Musical vC

14-19 Technique Weeks with Chris Anthony BC 21

The Irish Tenors vC

23

A Christmas Carol vC

25,26 Chinese Golden Dragon Acrobats vC 27

Dionne Warwick vC

28

Quartet San Francisco vC

29,30 The Lowe Family vC

13

Interpreti Venezani vC

11

Bearfoot vC

14

An Acoustic Evening with Lyle Lovett vC

11

Bud Light Street Beat concert vv

12

Keller Williams vC

15

Chris Botti & the Colorado Symphony Orchestra vC

18

Academy of St. Martin in the Fields & Julia Fischer vC

21

“An Evening on Broadway” Vail Valley Theater Co. vC

13-15 Girlz on Edge- Women’s Ski Excursions vM 15

Sam Bush vC

15-17 Women’s Health Weekend BC 16

Blue Note Records 70th Anniversary Tour vC

17

“Last Comic Standing” Tour vC

19

Irvin Mayfield & the New Orleans Jazz Orchestra vC

20

Lar Lubovitch Dance Company vC

21

LeAnn Rimes vC

21

Bud Light Street Beat concert vv

24

The 5 Browns vC

24

Talons Challenge BC

29-31 Bon Appetit Wine & Culinary Focus BC Her Turn- Women’s Ski/Snowboard clinic vM

31

Torchlight ski down & fireworks in the village BC

30

31

Fireworks, torchlight ski down & street party gp

February

January

1

Her Turn- Women’s Ski/Snowboard clinic vM

2

Three Dog Night vC

4

The Rat Pack is Back vC

8

“Nunsense” Starring Salley Struthers vC

5

“Annie” vC

8-10

Wine & Spirits Series BC

8

9-14

Technique Weeks with Gregor Neal BC

“Great Moments in Opera” Teatro Lirico D’Europa vC

11

BC Snowshoe Adventure Series BC

11

The Wailers vC

10 | i nSiDe eDGe

8

BC Snowshoe Adventure Series BC

9

“Aida” Teatro Lirico D’Europa vC

21,22 Vail Mountain Winter Uphill charity race Lh 22-24 CarniVail Mardi Gras celebration vM, vv, en 24

Guitar Blues vC

25

Tango Fire vC

25

Bud Light Street Beat concert vv

26-28 The New Yorker on the Slopes BC 26-28 She Skis- Women’s ski testing clinic vM

March 1

She Skis- Women’s ski testing clinic vM

4

The Oak Ridge Boys vC

4

Bud Light Street Beat concert vv

5

The Comedy of Errors vC

7

The Beach Boys vC

8

BC Snowshoe Adventure Series BC

10

Cherryholmes vC

March (continued) 11

Bud Light Street Beat concert vv

11,12 Kenny Loggins vC 12-14 Cookie Magazine Kidsfest BC

8

Junie B. Jones vC

Legend

11

Arlo Guthrie- Lost World Tour vC

12

Beaver Creek Mountain Closing Day BC

vv

Vail Village

vM

Vail Mountain

13-19 Spring Back to Vail vM, Lh, gp, vv

Lh

LionsHead

gp

Golden Peak

Fp

Ford Park

Celtica Sinfonia: A St. Patrick’s Day Celebration vC

en

Eagle’s Nest

An Evening with Lily Tomlin vC

BC

Beaver Creek

vC

Vilar Center

14

Kidsfest: “Princess Katie & Racer Steve” vC

15

The Smothers Brothers 50th Anniversary Tour vC

16 17 18

Bud Light Street Beat concert vv

18-22 American Ski Classic vM

15

Bud Light Street Beat concert vv

19

Vail Mountain Closing Day vM

Ongoing Events Thursdays & Saturdays, December 18-April 9 Free Nature at Night en

20

The Phantom Tollbooth vC

22

Estonian National Symphony Orchestra & Joyce Yang vC

24

Los Lobos acoustic show vC

25

Bud Light Street Beat concert vv

26

Complexions vC

29

Dark Star Orchestra in concert vC

31

“Cinderella” vC

Mondays, December 15-April 6 Guided ski tour with a Forest Service Ranger BC

1

Bud Light Street Beat concert vv

Thursdays & Saturdays, December 18-April 4 Rail Jam supervised rail session BC

1-4

Taste of Vail vM, Lh, vv

2-5

Vail Film Festival Lh, vv

5

BC Snowshoe Shuffle BC

8

Bud Light Street Beat concert vv

April

Thursdays, December 18-April 2 Glow stick ski-down & fireworks BC Tuesdays, December 23-March 31 Complimentary Family Snowshoe BC

Saturdays & Mondays, December 20-March 30 Disco Skate Night BC

w i n t e r 2 0 0 8 - 2 0 0 9 | 11