Gateway Land & Development

Monthly Archives: July 2015

Vail and Eagle County Medical Treatment

The Vail Valley Medical Center and the Physicians and Nurses and other medical care persons here are in the news all the time usually receiving praise for the services that locals and visitors to the area receive.  Today, June 25, 2015, the Vail Daily (www.vaildaily.com) has adds by MDs and other related professions, and news articles about the facelift and new space to the Vail Valley Medical Center located in Vail, and an article about the Centura Health Emergency Center that is coming to Avon.  The Cancer Treatment Center here gets rave reviews.  The Valley just keeps getting better and better for everyone here.  People in general and especially world class athletes from everywhere travel to Vail for the specialized services they can receive here.  The old settlers all the way back to 1962 love to tell the tales (which are true tales usually, maybe embellished sometimes); but thank goodness it’s not that way anymore.  I have only lived here since 1990 and by some of the old timers I am not yet considered a local.  The article about the Emergency Center points out the high cost of medical care here.  Our insurance rates are about the highest in Colorado.  Perhaps this will help.   The services needed for treatment of all kinds are here.  Anything related to health and exercise is present.  The Supreme Court just today upheld  “Obamacare” again.  Perhaps that controversy is settled again for a while.

It’s a beautiful day in Colorado, Bob Essin

 

 

Today’s (July 25, 2015) headline in the Vail Daily is “New York Phil opens residency.”  It’s not my friend Phil moving in next door.  It’s the New York Philharmonic that will be performing for a while at Bravo concerts in the Gerald R. Ford Amphitheater.  The Dallas Symphony Orchestra just left town earlier this month.  Check the paper regularly for the other music acts, bands, groups and entertainers that are here in the bars and restaurants every night of the summer, usually free but sometimes for a small cover.  The Vilar Center in Beaver Creek has a regular schedule each year during the summer and the ski season, not just music.   It books substantially in advance but it is not always sold out.  I think there are no bad seats at the Vilar or the Ford Amphitheater (even if you are on a blanket behind the formal seating).  Vail is also centrally located to head to other towns for the summer and fall music festivals in Breck, Aspen, Glenwood Springs and Telluride.  From here there is never a lack of activities to attend Summer and Winter.

It’s a beautiful day in Colorado, Bob Essin

vailbob@Comcast.net; 970-376-4484

Why would you go all the way to St. Andrews in Scotland to play golf on one of the oldest links courses in the world in terrible golfing weather?  Obviously-The Open this year-your chances of good golfing weather are slim.  Why not come to Vail, where your chances of good weather are great (or just wait a few minutes for the weather to get better) and without trying to overthink it, there are 4 great golf courses here in Eagle County that play like an ocean-side links course, let’s call it “Mountain Links golf, for instance Single Tree (aka the Sonnenalp course), Frost Creek, Eagle Ranch, and Cordillera Valley?  And while your doing that we have great shopping, great restaurants, great accommodations, real mountains and all the activities that go with, and the arts, music, plays.  This is a great place to visit, winter or summer (and that is an understatement).  I have been told I over use the word “great” but I don’t think so.

It’s a beautiful day in Colorado, Bob Essin

970-376-4484, vailbob@Comcast.net, Gatewaytovail.com

Vail, CODon Felder

Vail Valley Eagles fans weren’t disappointed with the Don Felder concert Tuesday night at the Vilar Center. His group of top performers and session musicians rocked the audience with Eagles’ favorites, and Felder punctuated each song with guitar riffs most will never forget.

Amongst the song selections were Hotel California, Witchy Woman, Tequila Sunrise and Takin’ it Easy. Perceptive fans could see their peers mouthing out 30-40 yr-old lyrics, amidst smiles and body gyrations familiar to 70’s and 80’s culture.Vilar

The local Habitat for Humanity affiliate is building four homes in just over a week, and they want you to help. It’s called a Blitz Build and you start swinging hammers on Wednesday. Walls will be raised on Thursday, and they’re determined to be done in eight days. You should be signed up already, but if you call Julie Kapala and ask nicely, they’ll let you help. They’re good that way. It’s a celebration of Habitat for Humanity Vail Valley’s 20th anniversary, and they’re doing it with Blitz Home Builders and Beck building company. Blitz Home Builders is a group of volunteers from around the country and the world. They choose one Habitat affiliate each year to partner with to build homes in an accelerated period of time. Since 1996, the Blitz Home Builders have built 50 homes in 17 communities. They’re bringing 75 volunteers to the valley for the Habitat for Humanity Vail Valley for its Blitz Build.

Habitat Workers Working

In 20 years, the local Habitat affiliate has built more than 50 homes that providing for more than 200 children and their families. Beck Building Company is donating professional labor and professional leadership each day of the event. A Blitz workday begins at 7 a.m. with morning announcements. Building begins promptly at 7:30 a.m. The day will finish around 3 p.m. Lunch is provided.

To participate in Habitat Vail Valley’s Blitz Build event, visit habitatvailvalley.org or call 970-524-HOME (4663).

The building site is at Stratton Flats in Gypsum.

Vail Jazz

The Vail Jazz Festival is a 12 week program showcasing the best in the jazz world.  It takes place in the town of Vail from June through September which allows guest to stay in Vail with just a short walk to dining, shopping and to the concerts.  There are 5 distinctive Jazz series: Vail Jazz @ Vail Square, Vail Jazz @ The Market, Vail Jazz Club Series, Vail Jazz @ Sweet Basil and the Vail Jazz Party with over 40 performances and 150 artists. The streets will be filled with the sounds of salsa, blues, Latin, bebop, the American Songbook and more.  For information on Tickets and the performances, please visit:  www.vailjazz.org or call (888) Vail.Jam. Vail-Square-2014_townsend-15

Please visit our website:  www.gatewaytovail.com

Gates open at 5:00 pm at Nottingham Park in Avon. There will be fire jugglers and other performers in the park as well as plenty of food, drinks and vendors. There will be approximately 10,000 shells going off for you entertainment. the show will be about 30 minutes long! Well worth it for sure !! More info ? Go to www.avon.org

Our Annual July 4 Office Party in Vail Village before, during and after the Vail July 4 Parade was a great success.  The Vail Office is located on the South end of the International Bridge along Gore Creek on the parade route on the West Side of the Sitzmark Lodge and just North of Check Point Charley.  The Village was filled for the parade at 10 a.m. and then most of the day and into the night for the July 4 Fireworks and partying after.  Coming into the office today, Sunday, July 5, the street vendors were setting up for day.  This location is unbelievable, right in the middle of all the action.  Check out our website, gatewayland.com and pick out the realtor that you want to work with in the Vail or Edwards offices.  We are all so fortunate to be here where we are, and hopefully you wherever you are, in this great Country we call the United States.

It’s a beautiful day in Colorado,

Bob Essin

“If you don’t like the weather, wait 5 minutes, it will change!”

Colorado, Vail and Eagle County boast about the weather, most days of sunshine, low humidity, you get the idea.  If you are a statistics buff, you may say the statistics don’t support this theory, but if you spend much time here, you will be very fond of the weather and the lifestyle it supports. This past 4th of July weekend we had a plethora of sun on Friday and Saturday but Sunday brought a fair amount of rain off and on.  When it happens, you have to adjust for a few minutes, ducking for cover or putting on rain gear but can quickly get back to your activity because the sun will come back out.  Regardless that yesterday was a very unusual day of rain (no lightning and the temperature did not get above 55), still 40 of the 44 Mens Club golfers for the Wednesday Vail Golf Course regular tournament showed up and played … they are hardcore.  It is difficult to leave this place (Vail that is) if you are here just for a short time or live here, and when you leave you can’t wait to come back, even if you just left for a visit to someplace else.

Inclement weather is often a good time to take a break and pop into Gateway’s office to get those real estate questions answered that you have been asking yourself.  Check out our website.  Gatewaytovail.com.

It’s a beautiful day in Colorado,

Bob Essin, 970-376-4484, vailbob@Comcast.net

 

WASHINGTON (July 9, 2015) — Real estate like-kind exchanges are an important vehicle for disposing of and acquiring properties and support the nation’s financial growth, job creation and economy, according to a new report from the National Association of Realtors®. The Like-Kind Exchanges: Real Estate Market Perspectives 2015 survey of NAR’s commercial and residential members found that real estate investors and commercial property owners place a very high priority on current like-kind exchange tax rules; 40 percent indicated that transactions would not have occurred in the absence of the tax provision, and 56 percent said even if the project would have occurred it likely would have been smaller in scale. Realtors® are active participants in like-kind exchanges; 63 percent of Realtors® participated in a like-kind exchange transaction between 2011 and 2015.

The survey found that like-kind exchanges in which Realtors® participated created between 10 and 35 new jobs, mostly resulting from spending on building improvements following acquisition. “Like-kind exchanges that allow investors and businesses to defer capital gains taxes on the exchange of similar properties bring great advantages to investors, real estate markets and the economy,” said NAR Chief Economist Lawrence Yun. “Realtors® and their clients often look for better economic use of existing properties that are underutilized, which helps promote local economic development and increase the nation’s gross domestic product.” Internal Revenue Code Section 1031, a provision that has been in the tax code since 1924, provides individuals and businesses with critically needed tax deferment on gains after the disposition of a property as long as the proceeds are reinvested in a similar property through a like-kind exchange. Replacement properties must be identified in 45 days and the transaction completed within 180 days.

Survey respondents said the primary reason that they or their clients participated in a like-kind property exchange, aside from the deferral of capital gains taxes, was for equity to acquire additional properties. Other reasons were for estate planning, portfolio diversification and completion of a development project. The tax savings resulting from like-kind exchanges are also helping bring more capital into local markets. Eighty-six percent of respondents said the savings from tax deferment allowed them or their clients to invest additional capital and make improvement in their acquired properties; these investments are generally responsible for the creation of new jobs, such as in construction and property management.

According to the survey, in 68 percent of like-kind transactions, Realtors® acted as a broker or agent, and 24 percent participated as an owner or investor in the transaction. A larger percentage of commercial members (76 percent) reported engaging in a like-kind exchange transaction compared to residential members (45 percent). Of the total, 40 percent participated in between 1 and 3 transactions, and 23 percent participated in 4 or more transactions. Residential properties comprised the largest portion of recent deals, accounting for 27 percent of disposed properties and 24 percent of acquired properties, followed by apartments (17 percent of dispositions and 22 percent of acquisitions). Land assets accounted for 19 percent of dispositions and 17 percent of acquisitions; retail properties accounted for 8 percent of dispositions and 13 percent of acquisitions; and office buildings comprised 11 percent of dispositions and 10 percent of acquisitions. Investors tend to hold on to their properties for several years; 47 percent of respondents reported their holding period was between 5 and 9 years, and 27 percent indicated a holding period of 10 to 14 years.

NAR believes like-kind exchange transactions are fundamental to the real estate investment sector, and repealing the tax provision would have negative effects across real estate markets and the industry. “Like-kind exchanges help investors more efficiently allocate capital and resources with less borrowed money into new investments that drive economic activity in communities across the nation,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “Any tax reform plan repealing like-kind exchanges would hurt investors and small businesses, increase financial leverage, weaken growth and the economy, and result in the loss of jobs.” Survey respondents indicated that repealing like-kind exchange tax provisions would reduce equity in real estate; 67 percent indicated repeal would lead to a large increase in financial leverage. Realtors® said the negative result would be reduced purchase money and new construction loans, and increased property holding periods. Ninety-six percent of Realtors® also said real estate values would decrease if like-kind exchange provisions were repealed.

The National Association of Realtors® Like-Kind Exchanges: Real Estate Market Perspectives 2015 report is based on a survey of 49,593 commercial practitioners and 55,160 residential practitioners (total sample size of 104,753) in January 2015, which generated 3,450 responses from all 50 states and the District of Columbia. The survey had a response rate of 3.3 percent. The report is available at www.realtor.org/reports/like-kind-exchange-survey. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.