Gateway Land & Development

Category Archives: Four Seasons Vail

Vail real estate

The latest county-wide real estate appraisal found the total market value of Eagle County real estate jumped 12.9 percent, with residential value jumping 11.4 percent compared to the last appraisal numbers from 2015.  According to Eagle County Assessor Mark Chapin, our real estate values are back to where we were pre-recession.  Our market has recovered.

Residential property values are around $1 billion more than the pre-recession peak, with residential property valued at $31.24 billion in 2009 and $32.39 billion in 2017.  The biggest increases are in Gypsum and Eagle where the affordable housing is supposed to be.  If you can find something between $250,000 and $500,000, that is the area where you will find it.  Properties tend to be closer to the half million mark than the lower price.

As property values go up, so do property taxes.  The property valuation notices will come out later this week.  In Eagle County, 45 percent of residential property value is second homes.  Those properties tend to be worth over $2 million each.  Around 60 percent of Eagle County’s property tax burden will be paid by second-home owners.  High end homes did not see the increases that the local markets did but they did not see their values plummet as hard when the recession hit.  A significant part of the overall property value increase was due to the number of local hotels that sold in Vail, which has not happened in many years.  The Park Hyatt sold for $145 million, the Four Seasons sold for $121 million, the Cascade sold for $90 million and the Vail Holiday Inn sold for $22.4 million.

In Colorado, properties are re-appraised every two years in odd numbered year.  This year’s  appraisal is based on market sales that occurred between January 1, 2015 and June 30, 2016.  Under Colorado’s Gallagher Amendment, residential property taxes are limited to 45 percent of all property taxes in Colorado.  Commercial and every other kind of property cover the other 55 percent.  Eagle County voters have seen a property tax hit from the four tax increases approved last year: Eagle County school district, Eagle County ambulance district, Eagle River Fire protection district and Gypsum Fire protection district.

For more information on real estate in the Vail Valley, please visit our website:  www.gatewaytovail.com.

Four Seasons Vail

The Four Seasons Resort and Residences sold for a record $121 million.  The sales price of $902,985 per room for the 134-room luxury hotel sets a new price standard, according to CBRE Hotels, the company that put the deal together. The average price in the luxury hotel market was $851,000 per room in 2015.  The record price reflects both the market’s stature and the product’s premium.  New York-based Extell Development Company and Chinese firm Parkland Holdings partnered to buy the Four Seasons.  Barclays had owned the resort since 2009, when it took control of the project when it was still under construction.

The Four Seasons is known for their world-class service, luxury finishes and robust amenity package.  The AAA Four Diamond hotel features 121 hotel guestrooms and 13 two-to-four bedroom condominiums that are currently operating as hotel inventory.  Amenities include a 14,935 square foot space, 7,000 square feet of meeting and event space, Flame restaurant and The Remedy Bar.  The resort also has ski valet facilities near the base of Vail’s Gondola One.

For Vail, the Four Seasons deal marks the second major resort transaction in the past 12 months.  Last December, Los Angeles-based Laurus Corporation purchased the 292-room Vail Cascade Resort and Spa for approximately $90 million and almost immediately announced plans for a $35 million renovation during the off-season. Holiday Inn Vail also traded hands in January for $22.4 million.  A private East Coast group purchased the hotel is renovating and re-positioning the hotel as a Double Tree, according to CBRE.

For more information on real estate in the Vail Valley, please feel free to contact:  Betsy Randall at (970) 401-3011 or email:  betsy@gatewayland.com.  Please visit our website:  www.gatewaytovail.com

Good morning and welcome to the last weekend in October!

Following are the stats provided on the Vail Valley MLS this morning…

NEW LISTING – Six new, 3 residential, 2 land, & 1 rental, pricing range from $2900-/mo to $999K.  Listings are in several areas, call for details.

PRICE REDUCTIONS – There are only two decreases from list price, one of $24,100- on a residential, & a price drop on a commercial building lease, call for details.

UNDER CONTRACT – Five properties have come UNDER CONTRACT with pricing ranging from $233,100 to $829K with one of those a partial ownership for $169K.

Finally, the SOLDS, Eleven new owners in the Valley. These SOLDS were purchased for $280K – $1.565M.  They are located in Avon, Edwards, Eagle, & Gypsum.

If you may be interested in any additional info, call me, 313 600 8330.

Thx  dean

Good morning…

images (1)

download

Trick or Treat day @ Riverwalk in Edwards for 10a-1p come on by for your TREAT!

Here are the stats as of this morning…

NEW LISTINGS – One new, a time share @ Four Seasons in Vail, about 3 weeks/yr…list price $280K

images

PRICE REDUCTIONS – Four price reductions, 2 residential & 2 time share…2 residential are $20K & $54K…the 2 time shares $20K & $6500-

UNDER CONTRACT – Seven properties are now under contract, list prices range from $250K-$499K for improved properties and $65K-$269K for vacant land

FINALLY, SOLDS…Eleven are now sold…residential improved sold prices are from $367,500- thru $9.5M…land which has sold ranges from $180K to $360,500-

If you have any questions or would like more info…

CALL ME @ 313 600 8330

Enjoy your day!

dean quint

Gateway Land and Development Real Estate

Good morning, here is what is showing up in the Vail MLS STATS this morning…

SOLDS – 13 properties have closed and now have new owners, 12 residential ranging in price from $177K in Leadville to $9.375M in Vail.  One vacant parcel in Red Cliff has sold for $220K.

As for UNDER CONTRACT, there are 10 Listings which offers presented have been accepted and now will continue through the process and likely become solds.  All are residential and they range in Listed Price from $315K to $3.795M.

PRICE REDUCTIONS number only 3, two have decreased the asking/Listing price by $20K and another by $8K.

Finally, NEW LISTINGS on the market are a huge, 1.  It’s one you may want to see, a $2.265M in Vail!

Whether your looking for a better deal with taking advantage of a PRICE REDUCTION, ready to LIST your property, or just looking and want to see a Newly Listed home or some other Listing still on the market, CALL ME TODAY.  I’ll help you through the process and get you into your next property in the Vail Valley.

DEAN QUINT  313 600 8330

Hi & good morning,

Wednesday morning here in the Vail Valley we experienced our season’s 1st dusting of snow to blanket most if not all of the ground at least from Edwards to the East.  Of course it was short lived and only at the upper elevations is it sticking, the rest has melted.

Here are some stats as of this morning according to the Vail MLS.

SOLDS – 11 properties have sold, ranging in price from a parking spot in Vail for $100K- to $999K for a single family home in Singletree.

UNDER CONTRACT – 8 new UC properties are reported ranging from $124900- for a lot in Red Cliff to $850K up in Beaver Creek for a ski in/ski out.

PRICE REDUCTIONS – Two price reductions one for $50K the other for $19100-, worth looking at for a better deal.

NEW LISTINGS – 7 new listings range from $449K for a 3 Bdrm 3BA in Edwards to $4.3M for 360+/- Acres near Dotsero with an improvement on it.

If interested in these or any other property in the Vail Valley or surrounding area give me a call and I’ll do my best to answer your question or will find the answer if I don’t know it!

Have a good week…

Dean  313.600.8330

 

onesie-for-skiing_salomon-editski flowers

red ski

 

Mike Mueller is the Vice President of sales and marketing for GetOutfitted a company that recently started renting vintage onesies.  “The world has gotten so crazy and fast-paced that I think people long for the good-old days when things were simpler.  A onesie is a time-traveling experience that helps you remember where you came from.”  That is, say, if you are over 50!

 

Find the perfect outfit at www.retroskishop.com

Rentals start at $36, purchace prices start at $89!

Blog5pic5Blog5pic1

 

 

Is it really 2016 already?  For those of you who happen to be planning on buying a home in the new year—or even just trying to—there’s a whole lot to celebrate. Why? A variety of financial vectors have dovetailed to make this the perfect storm for home buyers to get out there and make an (winning) offer. Here are six home-buying reasons to be thankful while ringing in the new year:

Reason No. 1: Interest rates are still at record lows

Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”“It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

Reason No. 2: Rents have skyrocketed

Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the2015 Rent.com Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016.

“In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more,” says Heather Garriock, mortgage agent for The Mortgage Group. “Doesn’t it make more sense to put those monthly chunks of money into your own appreciating asset rather than handing it over to your landlord and saying goodbye to it forever?”

Reason No. 3: Home prices are stabilizing

For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.

“Local markets vary, but generally we are experiencing a cooling period,” says Postilio. “At this moment, buyers have the opportunity to capitalize on this.”

Reason No. 4: Down payments don’t need to break the bank

Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.

Reason No. 5: Mortgage insurance is a deal, too

If you do decide to put less than 20% down on a home, you are then required to have mortgage insurance (basically in case you default). A workaround to handle this, however, is to take out a loan from the Federal Housing Administration—a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580. The fees are way down from 1.35% to 0.85% of the mortgage balance, meaning your monthly mortgage total will be significantly lower if you fund it this way. In fact, the FHA predicts this 37% annual premium cut will bring 250,000 first-time buyers into the market. Why not be one of them?

Reason No. 6: You’ll reap major tax breaks

Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes.

Remember, anytime the economy is primed for buyers, it is also a great time to list your home for sale. So, whether your thinking of buying or selling, please give Greg Peterson a call at 970-331-1333,

 

Classy Aggie of the Day

https://twitter.com/AggieUpdate has chosen to honor me as their “Classy Aggie of the Day”. This came as a fabulous surprise this morning as I checked my twitter account. It is always a privilege to be recognized by fellow Aggies.

Greg Peterson 970-331-1333          https://twitter.com/MountianHomes          https://www.facebook.com/petersonvailproperties/?ref=hl          www.vailhomes.land

 

 

What is Leverage Global Partners? Who are they? These are two questions I am frequently asked as talk to people looking at the wide variety of properties we have displayed on our windows.

The best way to start to understand what Leverage is to look at their vision statement.

“Inspired by a steadfast determination to elevate the field of play, Leverage Global Partners empowers an international network of prestigious independent real estate companies through shared intelligence, agile marketing strategies, and entrepreneurial connectivity. Each member of Leverage Global Partners has been carefully selected as demonstrating innovative leadership and peerless integrity in the field of real estate.”

Alright, so what does all of that mean? In essence, it means that our properties are marketed along side some of the premier properties around the world. Leverage Global Partners also connects you to Real Estate Brokers who are held to higher standards of service.

Leverage Global Partners Code of Care

  • INTEGRITY AND ACCOUNTABILITY:
  • DEFINING THE NEEDS OF OUR CLIENTS:
  • OUR STANDARD OF CARE:

Each member of Leverage Global Partners has been individually selected based on their recognition and expertise in the field of real estate as caring, conscientious experts as well as their willingness to whole-heartedly operate under the terms of this Code of Care. We understand and accept these principles, and we honor and commit to be held accountable to uphold these standards of practice.

If you still are not sure about the diversity and scope of the Leverage network, check out the Leverage Lookbook Spring 2015. You will find us in there on page 125.

lookbook_issue_2_feature_thumb

For more information check out their link on the bottom right of our web pages and remember, call Greg at 970.331.1333 for more information about any of their properties or local properties here in the Vail Valley.