Gateway Land & Development

Monthly Archives: January 2011

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Set on a spectacular?stretch?of the?Eagle River, this 5 bedroom, 6,183 square foot home offers exquisite finishes with lots of privacy.?? Floor to ceiling windows in the great room, dining and family room captures gorgeous views of the river.? The huge wrap around deck is?perfect for entertaining.? This home has a large?main floor master with an adjacent study which is the perfect retreat.?? Two bedrooms plus a loft/study are on the upper level while the lower level walk-out boasts; a recreation room with wet bar, two guest suites and a stunning theatre.

203 Eagle River Road?is located on one of the most spectacular lots in Arrowhead River Ranch. This is truly the mountain dream home!? Great proximity to the ski slopes, golf and fly-fishing.? Offered for:? $3,850,000.??

For more information on homes for sale in Arrowhead or a tour of this home, please feel free to call:? Betsy Randall at (970) 401-3011 or email:? betsy@gatewayland.com. ? Please visit our website:??www.gatewayland.com

Located in Lionshead, just west of Vail Village, the Arrabelle at Vail Square is Vail Resorts latest high end boutique hotel.? Just steps from the gondola and chairlifts, the Arrabelle is in an ideal location for skiing, snowboarding, apres ski and night life.? And while not everyone can afford to purchase a whole ownership residence in this posh property, many more can opt for The Arrabelle Club.

The Arrabelle Club is an excellent opportunity to get the amenities of a high end hotel without the price, and?need I say PARKING, right in Lionshead!? That’s right, a full membership at the Arrabelle Club comes with heated, underground valet parking.? Other amenities include:
Ski Valet/ Locker Room/ Spa and Fitness Facility/ Members Lounge with continental breakfast daily/ First Tracks/ Full Service Concierge

The memebrship deposit of $150,000 is fully refundable upon resignation as outlined in the membership plan.? Currently Vail Resorts is offering financing options for the memebrship, and it comes with 2 season passes for 5 years as an incentive.? The Vail Mountain Club memberships sold out at a cost of $250,000 so here’s your chance for the Lionshead version at a significant savings.

Call or email me today (970-766-2617) to learn more about the great Arrabelle Club opportunities that currently exist.

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Lionshead Vail real estate is hot!? Compared to Vail Village and everywhere else in Eagle County, Lionshead topped the 2010 charts.? Lionshead ended the year with 63 transactions, a 210% increase over 2009 and had $263.8 million in dollar volume in 2010, a 574% increase over 2009.? Lionshead?s sales represented 18% of the total dollar volume, the highest of any neighborhood in Eagle County, including Vail Village, which was 15% and Beaver Creek which was 12% of total dollars sold in 2010.

You next questions is: what made Lionshead so hot?? 2 new developments contributed to the overall numbers in 2010, including The Arrabelle with 11 sales for a total of $38,830,000.? The Ritz Residences had 14 sales for a total of $42,486,000.

The average sales price of single-family homes in Lionshead in 2010 increased an average of 12% over 2009, while multifamily homes (condos) increased 42%. The large increase in the sales price in condos is primarily due to the large sales in the new development projects previously mentioned.

The average price per square foot for single-family homes in Lionshead in 2010 was $739, down 44% from 2009.? The average price per square foot for condos in Lionshead in 2010 was $1,277, up 31% over 2009.

For more information on Lionshead or other Vail Valley real estate contact Karen Gilbert at 970-331-1482 or karen@gatewayland.com.

For more information on Vail Valley real estate check out our website at www.gatewayland.com.

For a free, non committal, property search visit www.vailpropertysearch.com.

Wow!!? That pretty much sums it up.? The ski conditions in Vail CO are as good as it gets; long term locals and tourists alike are grinning ear to ear making turns through feet of gorgeous powder.? Vail has received almost 4 feet of snow in the past week!? (with more in the forecast!!!)

Click here for Vail and Beaver Ceek Snow reports!

Weeks like this are what keep people living here and keep vacationers coming back year after year.? It only takes one week like this to make you a powder junkie for life.?? And I haven’t even skied this week!? It’s a very strange feeling seeing everyone?I know smiling and exhausted, ?talking about their powder days, when I haven’t even been up.?

A bum knee has left this former ski bum temporarily watching from the sidelines; and for the first time in my adult life, that’s ok.? I must be?getting old ( I did just turn 40) as I’m happy seeing the joy it brings to others. ?First time visitors telling stories of being waist deep and loving it.? Former pro skiers saying how good the Minturn Mile was today.? Apres ski discussions on what lines will still be fresh tomorrow,?while the answer is all of them since its still snowing!

My 3 year old had his first ski lesson yesterday and he was sooo excited!? My 5 year old can’t wait to get ski poles for the first time next week and back in his ski lesson.? And my wife is giddy as a school girl because she just got new skis (Volkl Aura’s) and can’t wait to get on the hill again!

There really is something magical that happens in a ski town when it dumps feet of snow.? People are happy, truly happy, to just play in nature’s splendor and share it with their friends and families.? I’ll be back out there next week, but watching everyone else this week reminded me how lucky we all are to live in a place like this.

Call or email me anytime for the ins and outs of the Vail Valley!? Have fun and think snow!

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Bachelor Gulch is located between Beaver Creek and Arrowhead and links the three mountain communities together, creating a village-to-village skiing experience.? Settlers Lodge is a smaller, more intimate building in a private setting in Bachelor Gulch, with easy ski in/ski out access just steps away. Enjoy ski slope views from this sunny, south facing condominium.?? Three spacious bedroom suites compliment the great room which features hard wood floors, a stone fire place and a large deck?overlooking the park and ski slopes.? Underground parking garage with elevator access to your condominium.? Offered?for?$1,600,000.

This is a great opportunity to own in Bachelor Gulch.? For more information or a tour of the property please call:? Betsy Randall at (970) 401-3011 or email:? betsy@gatewayland.com

The true answer to this question is: who knows? The most important factor in any market is investor psychology, which can not really be predicted with much accuracy.

Rather than predict, we can at least see where a few housing statistics stack up against long term averages. The most thing to remember is that valuations always revert to the? mean in the long run – there is always a magnetic pull toward sanity.

There are three fundamental housing numbers to look at for comparison sake:

1. Price to income: Housing prices are based on what people can afford to pay, so to judge today’s valuation, one can look at that ratio over the past twenty years. In 1990, the ration of price to income in the US was one to one. For the next ten years the ratio dropped to almost .9 to one. By 2001 the ratio had risen back up to one to one and continued rising until 2007, when the ratio hit 1.6 to one in the Case Shiller Housing Index. Since that period the ratio has dropped like a rock, and in 2010 it finally hit one to one again. In the past two years the reversion to the mean has been ferocious, and price to income levels are now roughly 6% above long term averages after being as much as 60% above the trend in 2007. The decline has been made up of 30% drop in home prices and just a 5% rise in average incomes since 2006. With unemployment high and looks like it is staying high large income gains are not going to happen, which means home prices are mort than likely to fall in order to bring the ratio back to reality.

2. Mortgage payments as percent of disposable income: The Federal Reserve chart shows that taking 9.5% as a standard, we are today a full percentage point above the norm. The Fed chart is important because it shows that a homebuyer’s abilityto leverage up and drive home prices higher is limited by mortgage payments. In the early 90’s buyers were over mortgaged, so they scaled back and housing took a downturn. Then ten years ago, the mortgage markets allowed this ratio to lever back up and people took immediate advantage. Today we are in another situation where people can no longer take on larger mortgages, so borrowers are trying to cut monthly payments, so the ratio starts dropping again.

3. Months of housing supply at current sales prices: The most simple of all concepts is Supply and Demand. As we all know, there are still more houses on the market than there are buyers. The Census Bureau indicates that we have an over supply of 10 months inventory, and that does not include what is known as ‘shadow inventory’ or homes that should be on the market but are not. They state that anything above six months inventory causes prices to fall. One solution is to stop building and that apparently is what is happening. Housing starts in 2010 averaged one third of starts in 1959. Excess inventory is being sucked up. We also could form more households? and the Joint Center for Housing Studies at Harvard seems to indicate that new formations will average 1.5 million over the next decade – yet another positive sign for the future.

All in all, since inventory is still up, prices will probably still stay lower for the next year, which is a good thing for investor/buyers. However, don’t expect to sell your new house during that time until we see a turnaround in 2012.

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The Ascent Residences are located at the entrance of the world class resort,?Beaver Creek and already have 26 condominiums under contract! Priced at 50% off the original price and replacement costs, don’t let this opportunity pass you by!?? There is a mix of two, three and four bedroom floor plans and are priced from $349,000 to $1.1 million.? Most of the floor plans are priced from $500,000 to $700,000. These condominiums offer impressive features such as hardwood floors, granite counter tops, fireplaces?and high end appliances.?

The Ascent Residences – Living Room

The Ascent Residences have some wonderful amenities for your enjoyment; concierge service, continental breakfast, youth game room, adult sports lounge, reading room, indoor pool and hot tub, fitness room, covered and heated parking, outdoor patio with fireplace,?ski lockers, and a ski shuttle to both Vail and Beaver Creek.?

Take advantage of this great value at the Ascent Residences!? For more information or a tour please call Betsy Randall at (970) 401-3011 or email:? betsy@gatewayland.com.? Please visit our website:? www.gatewayland.com

Come to Bellyache Ridge tomorrow (January 11, 2011) from 11-1 pm to view five great homes and 2 great homesites!

624 Big Dipper Rd.

624 Big Dipper Rd.

All of these properties will be open to the public for viewing:
624 Big Dipper Rd.?(pictured) ?Mountain modern home w/ 3 bedroom/2.5 baths.? 1.84 acres.? Offered at $798,000.
625 Big Dipper Rd.? Short Sale of a newer 3 bedroom/ 3 bath home on 2.16 acres.? Offered at $499,000.
4265 Bellyache Ridge Rd.? 3 bedroom/3.5 bath log home on 1.54 acres.? Offered at $689,000.
510 Big Dipper Rd.? Gorgeous 4 bedroom/4.5 bath custom log home on 1.94 acres.? Offered at $1,679,000.
985 Jouflas Ranch Rd.? New Construction 4 bedroom/ 4.5 bath home on 36 acres.? Offered at $1,975,000.

301 Big Dipper Rd.

301 Big Dipper Rd.

Also available are?301 Big Dipper and 188 Big Dipper.? Both are vacant lots with excellent views and easy access.
301 Big Dipper Rd. (pictured) is currently listed at $249,000 for 1.16 acres zoned duplex.?
188 Big Dipper Rd. is currently listed at $300,000 for 1.69 acres and is aslo zoned duplex.

DIRECTIONS:? Located above Wolcott, CO in the beautiful Bellyache Ridge neighborhood.? Take I-70 or HWY 6 to Wolcott.? Head south up Bellyache Ridge Rd.? Take a right onto Big Dipper Rd.? Look for signs identifying the properties.

Related Articles:
Bellyache Ridge:? A Unique Mountain Community

Mountain Modern Home For Sale in Bellyache

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The potential for this building is endless!?The Ironworks Building is?located in the heart of Minturn, CO?and is the perfect opportunity for an owner/user investment property.? This 9,390 square foot?commercial mixed use building has 5 residential apartments ranging in size from 800 to 1,350 square feet,?an office on the second floor with an anchor tenant in place and the entire first level which can be divided to accomodate offices, retail, restaurant or a mix.? This is an ideal live/work property for owners and employees.? This building offers the opportunity to be condominiumized.? There are 5 parking spaces that come with the property and additional parking is available through a lease with the town of Minturn.

Minturn is the quintessential old mining town established in the 1800’s and is just 10 minutes from two world class year round resorts; Vail and Beaver Creek.? Easy access to I 70 and Denver, Colorado is?about a two hour drive .? The Ironworks Building is being offered for:? $1,795,000.

For more information or a tour of the Ironworks Building, please feel free to call:? Betsy Randall at (970) 401-3011 or email:? betsy@gatewayland.com.? Please visit our website:?? www.gatewayland.com.

The Bachelor Gulch high end real estate market is staying strong, despite the challenges facing many markets.? We have seen quite a bit of recent activity, especially with premium single family homes.? For the sake of this discussion, we’re looking at homes listed over $6.5 million.

View From 3791 Daybreak

There are currently 2 single family homes under contract; 156 ElkHorn most recently listed for $8,900,000 for approx. 9972 square feet and 3791 Daybreak Ridge most recently listed at $11,900,000 for approx. 10663 square feet.? Both are stunning homes with amazing views and top of the line finishes.

1888 Daybreak Ridge recently sold in November 2010 for $8,500,000 for approx. 9865 square feet.

As of this blog, there are 10 single family homes on the market that I would term premium?and listed above $6,500,000.? Time on the market for these types of properties can be quite long, but several have just been listed; 5 have been on the market for under 50 days while the other 5 range from 328 days to 914 days.? Relative pricing has the homes ranging from around $1000/SF to about $1300/SF, with the average list price at?$1134/SF? and the median at $1126/SF.

Come see why people love Bachelor Gulch and why there continues to be demand in a challenging market.? Call or email me today.

Related Bachelor Gulch Articles:
Bachelor Gulch 2010 Sees Continued Activity

Bachelor Gulch Condos For Sale in the Vail Valley