We currently are  working on a new construction single family home with a secondary on a site on Forest Road in Vail that will have a priced in the that $18 million range. The architect is promising a residence of the highest quality. It will be both functional and captivating in design.

There are always a group of Vail buyers who know exactly where they want to be, but do not like the homes that are currently in those locations.  They have their own ideas and want precisely what they want and want to do it from the ground up. This group is engaging in “scape-offs”, where they buy the home for the location and are scraping it off the land to rebuild the dream home.  A buyer recently purchased a home in Vail for $15million only to tear it down and rebuild one from scratch.  Needless to say, land is becoming so valuable in Vail that some predict within 10 years, the market will be completely built out and the only option is going to be the next “scrape-off” opportunity. 

A Boulder water rights attorney, representing some of those groups, has made a claim that the Ginn Development Co and Minturn do not have enough water to serve the proposed resort because the water is already owned by other groups.

As in all big projects in quite areas not everyone is in favor of the Ginn project. There is a segment of the Minturn population that want to keep it just the way it is. Very soon, May 20^th to be exact, Minturn voters will have the chance to vote on a referendum either approving or denying the Ginn Resort’s annexation into the town.

Everyscape Vail Valley will be available in late June of 2008 at www.everyscape.com and will also be available at www.visitvailvalley.com.  Any business which participates in the Everyscape Vail Valley website project will also be allowed to put a link on their own site, which is a great marketing tool for local businesses.  While the Spring issue of Everyscape Vail Valley has been wrapped up, another round for the summer will take place in early July for businesses wanting to become part of a new and exciting website and marketing too.

Both locals and local business are upset about the mountain closing early this year.  Vail Resorts says it is closing early due to Easter being so early and a general feeling that most people stop skiing shortly after Easter. Vail’s international workers, which make up a large population of Vail Resort employees, have to return to their countries due to the expiration of their Visa’s. It has been tough year getting a full work force on the mountain because of the Visa restrictions for a lot of resorts in Colorado.

So in a winter that started out very slow, the 2007-2008 ski season in Vail and Beaver Creek Colorado will go down in history as one of the snowiest on record and one of the best ever.  For those of us lucky to experience it, we now have tell the tale of one of the snowiest winters on record. It was truly Epic conditions with more powder than I can even begin to talk about. Just think of snow in your face at every turn. Light fluffy snow that totally envelops you.

Looking for more of the same next year.

The Penthouses at Manor Vail boast not only a great location, close enough to walk to the center of Vail, but far enough away from the crowds, but amazing views of the Gore Range, Vail Mountain and Gore Creek.  The residences will be available in two, three and four bedrooms ranging from 1503 square feet to 3858 square feet.  The finishes will be the highest quality with several choices to please a variety of tastes. 

Many of the penthouses have already been purchased but there are several remaining residences available. The scheduled completion is towards the end of this year.  If you are looking for a luxury property, with an ideal location and amazing views, contact me at 970.766.7080 for more information.

 In fact, the goal of this new Epic Pass appears not only the desire to reward loyal customers with a less expensive pass, but also to try and generate more excitement in the sport of skiing and snowboarding by allowing people such flexibility to come and visit when and how often they want and to stay as long or as short as the want. 

The Epic season pass must be purchased before November 15^th of 2008 and will be non-transferable and non-refundable.  The current prices are set at $579 for adults and $279 for children ages 5-12.  Stay tuned for more information on this Epic announcement.

 Lavish interiors will feature luxury soaking spa tubs, stone and tile floors, gourmet kitchens with granite countertops, built-in refrigerators with wood paneling on the front, stainless steel appliances, custom cabinetry and gas fireplaces with stone hearths.  Additionally, owners can enjoy grilling on their walk out balcony complete with gas grill.  The units will enable owners to enjoy the latest technology with each unit wired for surround sound, flat screen televisions and high speed internet.

 Additional upgrades to this prime piece of real estate include a new lobby featuring a lodge style architecture, a redesigned pool area with spectacular views of the mountains, underground parking, a very hot commodity in Vail, and extra ski storage. 

 The location is ideal, right near the mall including shopping, fine dining and of course the ski slope with the main gondola.  Several units have already sold but there are a couple remaining.  If you are interested in owning a “Landmark” property in the heart of Vail, call us so we can provide you with all the information you need.  (970) 766-7080

So why the early closing?  Since Easter was so early this year, the resort feels that people lose interest in skiing after Easter especially the people from Denver and out of state guests.  The locals and the local businesses feel that since the mountain being open is such an integral part to their success, that Vail Resorts could do a little to help the town, not just worry about the amount of visitors.  Aspen is keeping the resort open for another two weeks after the scheduled closing to thank the community for a great season.

Some people do understand the position of Vail Resorts, citing that they are after all a corporation that needs to do what is best for the shareholders.  Also, Vail has a large portion of it’s workers who are foreign, and their Visa’s are only good to the end of the ski season, so there are several business would could possible suffer given an employee work shortage.

With 384 inches of snow to date, many are sad to say goodbye to a great ski season so soon, but with the announcement of the Epic Ski Pass, a $579 pass good for the entire season with no blackout dates, people are already getting excited for next ski season.

But what may be the most outstanding part of all this is the setting. With the big red rocks this could be a backdrop for an John Wayne movie. Each hour of the day an angle of the sun brings out even more details and the sunsets are definitely in HD.

If you purchase a home in this beautiful secluded community, you also receive a membership in the Bachelor Gulch Club which offers access to some of the best on-mountain skiing, dining and athletic facilities.  Members also receive slope side valet parking, and access to the Spa and Fitness center located in the luxurious Ritz-Carlton Bachelor Gulch and for a rare dining experience, members enjoy lunch and dinner at the private Zach’s cabin.

There are several home sites available for building the homes of your dreams or if you are ready to start enjoying this fabulous club immediately, several completed homes are available as well.  An example of one of the spectacular homes, is a 7000 square foot 5 bedroom home offered at $5,995,000.  If being in a private community with an incredible golf course and only minutes from world class skiing is part of your life’s plan, give us a call so we can show you the splendor of Red Sky Ranch.

 Chefs from three of Americas top restaurants including Tony Aiazzi from Aureole in New York City, Curtis Lincoln from the Brown Palace in Denver and Joseph Manzare from Globe in San Francisco grace Vail with their incredible skill and art during the 4 day event.

The taste of Vail allows local restaurants to get in on the action with the fourth annual Colorado Lamb Cook Off, held in Vail Village.  The Lamb Off, as it is called, was the creation of Paul Ferzacca who owns two local restaurants, La Tour and Zacca Za.  This was a way for not just the wealthy to participate in the event, but for everyone to enjoy it.  Also, he was trying to get local restaurant enthusiastic about and event which seemed ot not hold much interest to local Chefs.  Visitors walk the streets with the smell of lamb, cooked in any imaginable way wafting through the air.  A panel of judges selects the winner who will win a 42 inch flat screen TV for first place, a laptop computer for second and an IPod for third, oh and of course bragging rights.  This kind of prestige helped get the local chefs and restaurant community more involved in making this a successful event.
After walking around the picturesque town, visitors can take a gondola ride to the top of Eagles Nest where on top of the amazing views of Vail’s surrounding mountain ranges, a new Belvedere martini bar greets you at the top.  Cuisine ranges from picnic fare to oysters and champagne.
The grand event is of course the Grand Tasting held at the Vail Marriott in Lionshead.  For $175 per ticket, guest can sample food from 34 local restaurants and 50 wineries from around the globe.  Incredibly, it is either the winemaker or the owner that it present, which is a huge bonus for wine lovers. 

This year, the Taste of Vail hosted around 5000 visitors. The event also raises money for Pro-Start, a non-profit organization which introduces high school children to cooking.  Last year Pro-Start received $10,000 from the event.  Whatever your taste or passion, be it wine, lamb or chocolate, enjoying it in the beautiful mountains of Vail Colorado only makes it taste more luxurious.  

 On the negative side, the middle class are feeling this by having to pay higher taxes on their property.  In some cases homeowners saw a 40% increase in their taxes.  This also affects spending at shops and restaurants and local retailers feel the affects as well.  This sector of the real estate market, the under $1M sector, is seeing the biggest decline in purchases, because these are usually the properties which require loans.

International tourism is up 23% over last year in Vail, attributable to the weak US dollar.  The accents that are being heard the most around Vail are German and British.  The Euro has doubled in value, or the dollar has been cut in half, so the Europeans are buying property for half of what it costs an American to buy the same property.  Another large international group of visitors are South Americans who tend to visit earlier in the ski season, so while the Euro is a huge factor in the increased number of international tourists, it is not the only one.  This is great for Vail’s economy because people who travel far distances tend to stay longer and therefore spend more.
 

To get the real data on the past sales we have done a report on every 3 bedroom sale in the past year broken down by neighborhoods. This is available by emailing to info@escape2Vail.com and let us know what neighborhoods interest you the most or, call me at 970.766.7080.

The town will benefit from Ginn’s project by getting such things as sidewalks on both sides of Highway 24, a paved bike path, a scholarship fund for Minturn residents, employee housing, a recreation center and cleanup of some contaminated waste areas.

Minturn will also receive $6 million in tax revenue the second year after the project is approved, and $6-$10 million each year thereafter for five years; payment for what the residents are going to have to deal with as far as traffic and development.

While it appears that Ginn is well on his way to building his private resort, the final vote is not in and there some Minturn residents that do not feel this should be approved. There are always people want no change and there are those who want only positive change according their standards and this project will test both those philosophies. The final vote will decide what is in store for the small mining town. There seems really very little to stop this from coming to be and it will be very interesting to see how it affects the Vail Valley and the Real Estate market in general.