THE VAIL REAL ESTATE BLOG

INCREDIBLE DEAL FOR $199,999, EAGLE RANCH CONDO AND 4 ACRES OF LAND IN HARTSEL, COLORADO

2011-03-08T11:21:00.006-07:00

Here is a new twist and a fantastic opportunity to purchase two properties in the high country of Colorado for the price of one, $199,999. This Eagle Ranch Founder's Place Condo is the absolute perfect starter home in Eagles wonderful Eagle Ranch development. Walk to the movie theatre and shops in Eagle Ranch, walk two minutes to fly fish Brush Creek, ride your mountain bike five minutes and be on world class mountain biking trails, or drive just 20 minutes to some of the best skiing the world has to offer. This condo is two bedrooms and two bathrooms, 950 square feet and has many upgrades in a very cozy ad quiet neighborhood. INCLUDED in the sale of this condo is 4 acres of property in Hartsel, Colorado in South Park. This is NOT a scam, that is correct, you will receive this land free. This 4 acre lot is located in the heart of incredible Colorado fly fishing waters which include the South Platte river drainage as well as Spinney, Eleven Mile and Antero Reservoirs all within a very short drive. Call Larry Grossman at 970-376-1244 for more information on this incredible offering.

LARRY GROSSMAN, REFEERAL SPECIALIST AT THE BEAVER CREEK RESORT

2010-12-09T20:30:00.001-07:00

Welcome to my work place at the Beaver Creek Lodge at Beaver Creek Resort in Avon, Colorado. There have been some big changes in the past few months as property in and around this high end resort area has really begun to move. Prices are getting very realisitic for buyers who have been sitting on the fence waiting to jump in the resort property market and high end sales are really taking off as these prices continue to drop. Call Real Estate Agent Larry Grossman (970-376-1244) today and he can team you up with the hottest agents in the Beaver Creek Resort area. Don't miss out on the great opportunities which are all around us in the high country coupled with very low interest rates for qualified buyers. Now is the time.

PRESIDENT FORD'S BEAVER CREEK HOME FOR SALE, $12,995,000

2010-03-21T22:31:00.006-06:00

President Gerald Ford once graced the halls of this Beaver Creek home located at 65 Elk Track Court. This spectacular residence is highlighted by seven bedrooms and twelve bathrooms. 11,629 square feet which has been tastefully remodeled and includes a lap pool, elevator, gas fire places, hot tub and spa, breakfast nook, lock-off living quarters and an excersize room. This ski in-ski out property is available to the right buyer. Call Larry Grossman today at 970-376-1244 for more information.

AN ABSOLUTE DEAL IN BEAVER CREEK, REDUCED $600,000

2010-03-08T13:30:00.005-07:00

Now listed at $1,950,000 and located in the Beaver Creek Lodge, Unit #442 just may be the best deal at Beaver Creek Resort at this time. The lodge is located just a three minute walk from the ski slopes and is located a stone's throw from the Beaver Creek Village which is home to many fine dining establishments, year round ice skating, shops and every activity you can think of in Colorado's High Country.
The lucky owner of this unit also has access to the full range of hotel amenities which include the following.

•Resort concierge desk
•Business center
•Complimentary Beaver Creek Resort shuttle
•Ski valet & ski lockers
•Valet parking/heated garage
•State-of-the-art fitness facility and off-site spa
•In-suite dining
•Dry cleaning
•Retail ski & snowboard shops

Three large bedrooms and three and a half baths are the highlights of this 2300 sqft. flat. You also will be entitled a Beaver Creek Club Charter Gold Membership option. All this at the world class Beaver Creek Resort, home to the infamous Bird of Prey World Cup downhill every ski season.

Call Larry Grossman today for more details at 970-376-1244

THE SHORT SALE PROCESS, WHERE DO I BEGIN?

2010-02-05T14:39:00.005-07:00

The big question is rapidly approaching a large majority of home owners, not only nationally, but right here in Eagle and the rest of the Vail Valley. Many home owners that are inevitably going to have to sell their homes will have questions about the short sale and foreclosure process and what will work best for them under current circumstances. First of all, this is a very unfortunate situation for any property owner to be in, but harsh realities are facing many of us in these tough economic times and it is important to note that if you see the writing on the wall, and you know you are going to be put in a position of having to sell your home "short", there are some very helpful resources out there. New guidelines go into effect on April 5th of 2010 and there is help out there answering all your questions. First start HERE , at http://www.makinghomeaffordable.gov/ to become acquainted with the process and if you qualify. Short sale may very well be the best option for many of you who are upside down on their properties, or in other words, owe more than your property is actually worth in today's market. There is another radical option for many of you as well. If you are so far upside down on your property's mortgage, you may consider simply walking away as an option. This choice seems like failure mentally to many, however, I encourage you to read the following publication from Brent T. White at the University of Arizona. White is a professor of law at the U. of Arizona and has written a publication entitled "Under water and not walking away: Shame, Fear and the Social Management of the Housing Crisis". Once this page loads, click on the SSRN link next to the "unerwater" article to open and read it. This is a very straight forward and honest assessment of reality in today's market and may actually help you with your own current position, read it and learn. Should you have any other questions concerning real estate needs please call me today at 970-376-1244.

THE FORECLOSURE WAVE

2010-01-17T19:27:00.003-07:00

Just three to five years ago, money was flowing freely. It seemed anyone who wanted "free" money at the time could get it, and in any increment. Well, we all knew those two and three year arms would eventually come to fruition and many have and continue to do so. Fair enough, as we knew this scenario would become a reality. There is however one tremendous problem that cam with this "free money" wave as non stated income loans and refinancing to place. Home owners were borrowing large sums of money against their overly inflated home values nad equity which were created by this easy money scheme of it's time. Mortgage brokers were making money hand over fist while they continued to put homeowners in very potentially poor equity positions in the future. Some of us, myself included, decided to sit tight during these times, keep our thirty year loans with favorable interest rates and did not borrow against the inflated value of our homes, the lucky few. Which brings us to the above graph. We live in a satellite resort community here in Eagle, Colorado. Many professionals think we drag 12-18 months behind the rest of the country with our real estate trends, which makes this graph even more alarming. As we begin to feel the pinch here legitimately, it appears the bottom is yet to come as the above graph estimates when the peak of the loan foreclosure wave will hit the rest of the country, which is March, April and May of this year. What this means is there are more great deals on the horizon if you are sitting and waiting to make you move in the near future. Great opportunities for buyers will continue to surface in the near future. We are already seeing some amazing deals up valley in the resort properties. There are units up valley which have been reduced 40% and are starting to move, and these include some woderful opportunities in the Avon/Beaver Creek market where I now work. For more information on thes properties call me today at 970-376-1244.

MORE ALARMING NUMBERS FOR THE VAIL/EAGLE RIVER VALLEY

2009-11-18T11:13:00.004-07:00

Well, just when many thought there was a glimmer of hope more "reality" numbers hit us here in the Vail/Eagle Valley. Foreclosures are up 58% here from the same time last year and reported property values have dropped back to 2002 pricing. For sellers this is pretty disconcerting news, as well as for property owners who purchased from 2002 to 2007 when the upswing was honestly quite out of proportion. This of course is providing some incredible opportunities for buyers, and right now cash is king. My personal take on the entire picture here in the high country market is that we are just beginning to see the meat of the downswing of the market collapse at this time. How much farther and how wide spread will this fall continue into the future? There are some "experts" I have conversation with on a regular basis and we agree that the Mountain/Resort market has a tendency to lag about 1-2 years behind the rest of the country trend wise. Only the future will bring the answers to all of us concerning a rebound or at least a stabilization of our local market. If you are looking for the bottom to buy, right now is a very good time to be working with an agent who can keep their eyes on local foreclosure auctions and short sale prices, offers and sales. We are seeing some very good values out there right now and to find them contact Larry Grossman at 970-376-1244 for more information.

THE PHONES ARE BEGINNING TO RING, JUST A BIT

2009-10-08T01:33:00.008-06:00

197 Williams Court, Peace and Quiet on 3 Acres With fall in full swing and the first time home buyer credit getting ready to evaporate into thin air, it appears that their are some buyers out there who are getting a bit "itchy" to take advantage of that $8000 in savings as my listings have all of a suddne begun to see a noticable increas in showings. This upcoming weekend I've got showings on everyone of my lisitngs (which can be found at http://www.livethecoloradodream.com/, see "featured properties"). This is very encouraging indeed as it's been pretty sleepy on the showing side for the majority of the summer season, for everyone. We are slowly seeing more pending and sold properties here in the Vail Valley as buyers begin to realize that we are seeing the bottom on a percentage of home prices. Call Larry Grossman today for more information on the latest market trends.

The View From 197 Williams Court

HIGH DOLLAR PROPERTIES ARE MOVING IN VAIL

2009-08-24T15:32:00.005-06:00

This is becoming a very typical sale as of late in Vail. This dupex is actually located in East Vail and was originally listed for 2.2 million dollars just over a year and a half ago. The price had been reduced nearly half a million dollars to $1,695,000 and it is now under contract. That's a near 25% decrease in original asking price. These are the types of properties we are seeing move up in the Vail area as smart buyers begin to "feel" that there are some very good deals out there and that prices will not drop much more if at all on these homes. Hence, the wise buyer is jumping in now so they do not miss the bottom and get caught still looking once the upswing in prices once again begins. When will this happen? No one can be certain, but there are some great bargains out there on beautiful homes up valley right now, and this is a great time to jump on the opportunity if you have been sitting on cash...

PARADISE IN COLORADO, TRUE MOUNTAIN LIVING

2009-08-24T12:42:00.010-06:00

197 Williams Court, Gypsum, Colorado
3bd/2bth with a large finished basement and three acres to do as you please, $749,000

There are some properties that "try" to be Colorado, and others that simply "are" Colorado. The Davis Subdivision in the Gypsum Creek Valley is such a place. This large A Frame style home at 3754 sqft sits on three acres of beautiful property immediately north and east of The Brightwater Club. When you speak of breath taking mountainous views from a plush valley this one is hard to beat. Built in 1995, this home sits on a wonderfully landscaped acre, while two acres remain "do as you please" property. This is a dream horse property, if you have numerous toys and need storage space, this is the property for you. The over sized two car garage will support any type of "shop" you may wish to build, or just build another building to your own specs. MLS # 319096

Large Colorado Views abound

Colorado Mountain living at it's best, this is beyond location, location, location

AS GOOD AS DIRT IS GONNA GET

2009-07-02T20:23:00.006-06:00

130 COYOTE PLACE, COTTON RANCH, GYPSUM, COLORADO

If you have been waiting for the right price for a spot to build down valley, this lot just may be the spot for you. Located in Cotton Ranch, on the golf course, with big views of the surrounding mountains and Gypsum Creek, this .56 acre lot is perfect for your dream single family home build. The address is 130 Coyote Place, lot 162, and it is just a five minute walk to the fabulous golf clubhouse and all it's amenities. It's been four years since lots this size have been priced like this. At $139,000 this is the biggest and most affordable piece of land to build your dream Colorado mountain home. Call Larry Grossman today at 970-376-1244 for more information.

PROPERTY VALUES BACK TO 2002 PRICING

2009-05-27T02:04:00.002-06:00

This fact has been discussed in great detail for months amongst industry professionals. Where do we stand from a pricing standpoint? Well, reports from today say that property values have gone back to 2002 pricing which on average means the majority of properties out there have lost a full third of their value from just a couple of years ago. A frightening prospect indeed for those of us who had a nice litlle nest egg stashed away in our home values, but the reality today. Don't believe it? Try listing your home at 2007 prices and see if you even get a sniff from a buyer, it just won't happen.

THE REALITY OF SELLING A SINGLE FAMILY HOME IN EAGLE AND EAGLE RANCH.

2009-05-18T13:09:00.005-06:00

I think it is clear after months of struggling home sale numbers in the Eagle and Eagle Ranch markets, that if you truly need to sell your single family home quickly, and at this point quickly can be defined as within three to four months, that your square footage price is going to absolutely begin with the number one, and not anything higher. This of course is my personal opinion, however, this is based on the facts that the average days on market in this market is currently 245 days. There have been three properties closed in this same market since the beginning of the year, this is out of 180 listed properties. This is quite the reality check for sellers and property owners at this point. I have had many listing appointments during the last couple of months and when potential sellers hear it's gonna take a list price somewhere between $150-$175 sqft. well, the reaction is never very positive, but this is what it will take to even get your single family property shown at this time. The outlook for sellers does not appear to look like it's going to change for quite some time either. However, if you are a buyer, and can find properties which are in a situation where they must be sold, this is a great time to shop for bargains.

EAGLE RANCH SHORT SALES BECOMING COMMON

2009-04-08T21:02:00.005-06:00

101 FOXGLOVE LANEAt $185/sqft, this home is a very good value if you are currently in a position to buy. Being a short sale, all offers are subject to Bank approval, but they will look at any offer. 5 Bedrooms and 6 Baths in this 4473 sqft. beauty. Great Castle Peak Views, Gourmet Kitchen Wolf Range, Sub Zero, Slab Granite Throughout, Full Bar in Basement,Two Laundry Rooms, Large Storage Area Above Garage, Walnut Hardwood Floors. Call 970-376-1244 for more info today

WHY HAS MY HOME NOT SOLD?

2009-04-08T10:26:00.004-06:00

So your home has been on the market for sometime now and you've had very little activity. Well, I think at this point it is safe to say we are pretty deep into a buyer's market. Many of you trying to sell are still in denial about what your property is actually worth. Is your agent being honest with you when discussing the issues or is everyone just sitting there with the "wait and see" philosophy? If so, here is a list of reasons you may still be sitting on your property as new mortgages numbers begin to head upwards.

1. It's obvious your property is overpriced, sit down and have a frank discussion with your realtor about what price your home will sell for today.

2. Your home does not show well, a good realtor can help you with staging your home for sale.

3. Your home is not in a very desirable location, what you perceive is not always what a buyer perceives

4. Your listing agent is not doing all they can to sell your home.

5. You have very stiff competition and many other listings in your area.

6. Ineffective Marketing, is your agent doing everything they can to get your home's information out there? It's a new world out there when it comes to marketing, especially with Internet options today.

If you need help with any of these issues, or just need a fresh start and approach to selling your home, call Larry Grossman today at 970-376-1244.

WE ARE NOT IN A RECESSION, WE ARE AT THE BEGINNING OF A BOOM.

2009-03-18T07:46:00.002-06:00

If you were wise enough to "see the future" during the past couple of years and were wise enough to save your nickels and dimes as an investor for when "leaner" times arrived, you are now in an absolute perfect position to start shopping for quality properties which are much more affordable than they were just 12 months ago. Cash is king right now, and if you are in a liquid position today, it's time to start keeping your eyes on listings that continue to drop their prices at what is becoming both an alarming but also realistic rate. Much better deals are on the horizon for qualified buyers and if you are wise now is the time to get involved with a realtor who knows his or hers local market as well mas information that may help you find the dream house at a price which can't be beat. Call Larry Grossman today to find these properties in the Vail Valley at 970-376-1244

SOME PRICES HAVE HIT BOTTOM IN EAGLE AND EAGLE RANCH?

2009-03-07T09:15:00.005-07:00

There is suddenly a bit of a trend in the Eagle and Eagle Ranch area. Properties which have had their listing prices dramatically reduced, and I'm talking 25-35% of their original asking prices are beginning to move. Several have gone under contract in the past month. Buyers are sensing that the "bottom" may be near on these properties that are truly great values and rather than wait to see if things are going to move even lower, they are smart, and they are snatching up these great values instead of waiting too long and then asking "what if" down the road. It is inevitable that we will see more of these downward pricing trends on properties that are still over priced for this market. Now is the time to keep attentive and smart, pay attention to price reductions everyday and be ready to pounce on the next great opportunity on your dream home here when opportunity knocks. Now is the time to buy and sellers who think this market is going to come back quickly and that prices will one day come back to where they were two years ago have got some surprises in store. To stay on top of the latest trends and keep posted on potential short sales in Eagle Ranch, contact Larry Grossman today at 970-376-1244 or fishlg@netzero.net

IT'S HERE, AND IT'S REAL. HOME VALUES CONTINUE TO TANK...

2009-02-25T15:36:00.007-07:00

What a time to be a buyer in the Vail Valley...

Reality is hitting at a brisk and stunning pace here "down valley" these days. If you are a buyer looking to finally purchase a property in the Vail Valley the time has come as the phrases "short sale" and "foreclosure" are finally hitting home here. Large custom homes are beginning to sell for 30-40% below what they were valued at just a couple of years ago as prices and value continue to drop over the edge of the falls. More and more sellers are becoming leveraged and they must sell, whatever the cost. If you are fortuante enough to be sitting on cash right now, you can find your dream home by doing a little research and finding some incredible values here in the Vail Valley. Call me today for more information on exactly what is out there. 970-376-1244

UNDER $300,000 IN EAGLE RANCH...

2009-02-12T09:45:00.003-07:00

For the first time in over two years prices have dropped under $300,000 in Eagle Ranch. 530 Founders Avenue, Unit C101 was recently reduced to under this price and is not a deed restricted unit. At this price this unit would make an outstanding investment property or is perfect for the first time buyer. Other units is this complex are priced from $310,000 to $339,000. This makes Unit C101 and incredible value as it has many upgrades including custom window coverings, ceiling fan/light combos, wired for surround sound and antiqued kitchen cabinets. Eagle and Eagle Ranch continue to see prices dropping and short sales in Eagle and Eagle Ranch are becoming more of a common occurance. Buyers get ready! There are now and will continue to be some wonderful values for you today and in the future. For more information on these properties, call Larry Grossman at 970-376-1244 or send him an e-mail at fishlg@netzero.net

THE BRUSH CREEK BUILDING IN EAGLE COLORADO, REBIRTH OF A CLASSIC!

2009-02-06T18:52:00.008-07:00

The "new" Brush Creek Building in Eagle, Colorado, right on Broadway in downtown has been not only carefully been "unconstructed", but now stands tall as the signature building in the Old Eagle Downtown core. With the rustic Brush Creek Saloon on the first floor, exceptionally remodeled from scrtatch to keep it's old traditional feel, and ample office space on the second floor, the building also boasts four incredible loft type penthouses on the third floor which are one or two bedrooms and priced from $340,000 to $427,125. Each unit has unique finishes and offer a great location just walking distance from everything in the downtown corridor. Also available will be nine very large storage units on the basement floor of the building. This exciting new project is now available for purchase. Call Larry Grossman today at 970-376-1244 for information.

The Original Brush Creek....no more.

THE CLASSIC EAGLE RANCH SHORT SALE, 165 LIME PARK DRIVE

2009-02-05T03:21:00.006-07:00

165 LIME PARK DRIVE, EAGLE RANCH, COLORADO

Wow, are buyers looking for homes in Eagle Ranch, Colorado going to be seeing some wonderful values in the near future, or how about right now. The "short sale" is no longer a catch phrase in this amazing neighborhood as reality begins to creep into the Vail Valley. With "Breathtaking views, spectacular layout, a refreshingly unique home in Eagle Ranch. Completed in July, this wonderful home combines stunning finishes, mountain elegance, and a touch of imagination that will make it stand out in a buyer's mind. Golf course, unimpeded Castle Peak views, quiet cul-de-sac, and all the amenities of Eagle Ranch. Perfect for the growing family or second home owner!!!

This home was originally listed at $1,225,000 but has been reduced OVER 30% to $799,000 which makes this property a steal at $217/sqft. Keep your eyes fixed right here on the Vail Real Estate blog for more values like this one which will be sure to surface over the next months. What a great time to be a buyer here in the Vail Valley!
Of course on the other side of this short sale coin is the seller. As properties are being leveraged into this short sale position, property owners are beginning to see the substantial price corrections we knew would be coming here in the Gypsum to Vail area. Reality is beginning to hit hard. Homes that are being listed in a short sale situation, and that are not moving quickly, are a reflection of what the actual market value is for the other homes in those areas, which unfortunately for sellers is not very accomodating news. For more information on homes such as 165 Lime Park Drive here in the Vail Valley, contact Larry Grossman today at 970-376-1244 or fishlg@netzero.net

WANT TO BUY REAL ESTATE IN THE VAIL VALLEY?

2009-01-19T14:43:00.005-07:00

If you have ever dreamed of buying a piece of real estate in the Vail Valley, which stretches from East Vail all the way down to the small town of Dotsero to the west, and you have the funds, I am going to suggest to you to sit tight for a bit longer as the housing crunch continues to creep into our market, there are certainly going to be some very good values as sellers continue to feel the economic pinch and begin to drop prices of the properties which they need to sell. The trends are definitely falling into place here just like the rest of the country, and all though we are not going to see the same type of percentage reductions here, they will continue to happen and some will be significant creating some great values for you the qualified buyer...call Larry Grossman today or e-mail him at fishlg@netzero.net to keep up to date on the most current price reductions in the Vail Valley.

EAGLE TOWN MEETING, EAGLE RIVER STATION..

2009-01-14T19:57:00.003-07:00

Eagle River Station at a glance;

• Mixed use development proposed on an 88-acre tract at eastern end of Eagle, south of Interstate 70• Development team is Trinity/RED Development, based in Kansas City, Mo.• 552,000 square feet of commercial space• 132,000 square foot anchor store• ‘Lifestyle Center’ shopping area featuring Main Street design• 150-room hotel• 581 residential units• $346 million estimated development cost• $62.4 million estimated public improvements cost• New I-70 interchange and improvements to U.S. Highway 6• Public improvements financed with revenue sharing plan.
Can this work in small town Eagle? My concerns are in this economy, who is going to support 550,000 sqft. of commercial space? What retailers are going to be able to make it if the customer traffic does not show up? How are you going to pay employees of this monsterous retail "mall" enough to live in one of the most expensive counties to live in period. Where are they going to be able to afford to live? It's a nightmare when you try to even come close to trying to figure out these basic questions. Yes, the town needs the tax revenue and the infrastructure improvements that will come with the development, but the rest of the actual implementation of the project does not seem to have a chance to work, even in a healthy economy. Ultimately it will be up to the people of Eagle to make the decision. Let's hope they make a logical decision. Nobody making $10 an hour in any of these retail establishments will be able to afford renting much less buying a place in the Eagle area.

REAL ESTATE CORRECTION HAS SOME AGENTS REELING, WHILE OTHERS CONTINUE TO KEEP IT ROLLING

2009-01-09T20:20:00.007-07:00

Just Listed today, Founders Place unit C101, Eagle, Colorado The initial response to the current real estate market slowing in the Vail Valley is showing the number of agents dropping at a fairly significant rate. Agents who struggled to find business over the past couple of years are currently hard pressed to find enough business to justify staying active as a real estate agent. This too is part of the economic correction the country is experiencing. I myself have a number of clients who are taking the "wait and see" attitude as they are in a position to wait out the market for the time being. Buyers are still looking for deals, and sellers are still hoping the market comes back so they can regain some of the equity they have lost during the past year or so.

I have decided to "tough it out" and continue to push forward looking for new business where it can be found. Just listed today is this charming 2bd/2bth condominium in Eagle Ranch, Eagle, Colorado. This unit sits next to the heart of "downtown" Eagle Ranch and is a two block walk to the Movie theatre, The Dusty Boot bar and restaurant, Starbucks as well as other establishments. The unit has wonderful views of near by open space as well as Castle Peak. Other amenities within walking distance are fly fishing in Brush Creek, bike paths and an Arnold Palmer designed golf course. This unit was built in 2001 and is in great shape with built in surround sound, custom window coverings and is partially furnished. 25 minutes drive to Vail and 15 to Beaver Creek for world Class skiing. The unit is also ADA constructed. List price is $329,000. Call me today at 970-376-1244 for more information.

102% FINANCING STILL AVAILABLE THROUGH SELECT LENDERS, THE SECTION 502 LOAN

2008-12-05T10:25:00.004-07:00

SECTION 502 LOANS

The Rural Housing Loan provides 102% (based off appraised value) financing for borrowers that meet the income and credit guidelines, with NO mortgage insurance.

No out of pocket expenses necessary (102% of appraised value can be borrowed, closing costs and prepaids can be paid via gift, or seller contributions)

Sellers can contribute up to 6% of the sales price towards prepaid items, and closing costs, including rate buy downs.

Section 502 loans are primariyl used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Owner occupied only.

One loan to 102%, no mortgage insurance, and value is based of appraisal, not contact.

Borrower can only own one property.

Applicants for loans may have an income of up to 115% of the median income for the area, as defined below.

115% of Eagle/Summit median income;

1 person household=$61,900
2 person household=$70,700
3 person household=$79,550
4 person household=$88,400

30 year fixed rate is the only loan program available currently however it is below market rates

Max loan size $417,000

Call me for further details....970-376-1244

AVERAGE DAYS ON MARKET IN EAGLE RANCH

2008-12-01T11:28:00.003-07:00

The average days on market (ADOM) continues to rise in Eagle Ranch, Eagle, Colorado. It is currently 220 days, which is quite high. This is a reflection of the current market in our area. What does this say about current market conditions? Well, first of all this is a reflection of the fact that many buyers are still trying to sell their properties for prices which are too high. Many still believe they will be able to fetch an offer that they may have seen two years ago. Some sellers are dropping prices moderately and hoping to recieve as high an offer as they see possible. The problem with "fishing" for these offers is that they are just no coming right now. It is imperative to price your property in the area where the buyers are currently "feeding". For instance, if you are fishing out of a boat, and all the fish are dwon deep, does it pay to fish in the most shallow part of the lake? Of course not, there's no fish there! So basically what I am saying is that in order to "catch" the buyers in this market sellers are going have to start lowering thier "bait", or price into the area where buyers are currently seeing value, which is well below what asking prices were a couple of years ago. If you need to sell, your property is going to have to be perceived as a much better value than everything else that is out there, so fi you are selling, be prepared to price accordingly.

BEST PLACE TO RENT SKIS IN VAIL..

2008-11-25T18:14:00.003-07:00

FOR ONLY $19.95/DAY

Click the logo for store info

THE BACK BOWLS OF VAIL MAP

2008-11-25T18:11:00.002-07:00

Endless Skiing, click pic to enlarge!

VAIL'S BORN FREE AND CHAIR 8 OPEN FOR THE SEASON

2008-11-25T18:00:00.002-07:00

Skiing at Vail has officially opened with the opening of Chair 8 and the Born Free run. Vail opened this past Friday and the skiing has been excellent through opening weekend, trust me on this one folks as I skied Saturday, Sunday and Monday. So get out and go rip some turns!The front side of Vail Ski Mountain

REALITY CHECK HITS EAGLE REAL ESTATE MARKET

2008-11-25T17:51:00.004-07:00

"Short Sale", the dreaded words that no home owner wants to hear when it comes to the sale of their home, particularly in the high end neighborhood of Eagle Ranch in Eagle, Colorado. But those very words are now beginning to be murmured amongst the property owners of some of the luxury homes here. What this means is that Sellers are getting desperate here in the Vail Valley just like the rest of the country and we continue to see very significant price reductions. If you are looking for a premium property in the High Country of Colorado, it would be wise to have a savy realtor keep you up to date on all the latest price reductions and possible short sales. For information on these properties, and to keep up to date on the most current information, call Larry Grossman today at 970-376-1244 or shoot him an e-mail at fishlg@netzero.net

VAIL'S ARRABELLE SQUARE BUILDER HONORED

2008-11-25T17:47:00.003-07:00

From the Vail Daily

EAGLE COUNTY — The Eagle Valley Home Builders Association recently recognized The Gallegos Corporation for its work on the Arrabelle at Vail Square. The company was awarded three BEAM Gold Awards, one each for masonry, plaster and marble/granite/tile. “This project was truly unique and a good test of our skills. The timeline was tight and the scope of the project was impressive,” said Jake Jacobson, the Masonry Division president. “It is not often we get to work on a project that encompasses so many of our talents. I am happy that all of our crews were recognized for their hard work.”

If you would like more information on the Arrabelle, Vail's premier resort residence, call Larry
Grossman today.

GYPSUM OK'S SADDLE RIDGE, FINANCES REMAIN UNCERTAIN

2008-11-18T08:52:00.004-07:00

FROM THE VAIL DAILY

Saddle Ridge, a 244-acre project proposed for Gypsum, would include 309,000 square feet of commercial space. But Town Manager Jeff Shroll said, given the current economic environment, that aspect of the project won’t happen for a “very, very long time.”
Special to the Daily
GYPSUM, Colorado — After hovering for six years on the edge of the town’s radar, the proposed Saddle Ridge development earned approval from Gypsum, Colorado, Town Council last week.Saddle Ridge is one of the biggest development ever proposed for the community. It is a golf resort and timeshare second-home community that would be located on the eastern edge of Gypsum, directly south of Eagle County Regional Airport. This 244-acre development plan calls for 113 cabins, 109 condominiums, 309,000 square feet of commercial space, an 18-hole golf course, a 38,000-square-foot clubhouse, more than 20 acres of lakes, 30 bed and breakfast lodge units and an 100-room hotel, which developers hope will have a high-end hotel name.

538 HERNAGE CREEK ROAD, BACK ON THE MARKET

2008-11-18T08:27:00.003-07:00

Back on the market! Nestled along Hernage creek this family home has plenty to offer. Home study and Master bedroom are conveniently located on the main level while the lower level offer the kids 3 bedrooms two baths and a family room all of their own. 4BD/3.5BTH with outstanding finishes this is probably the best value in Eagle Ranch if you are looking to "downsize" and remain in the incredible neighborhood of Eagle Ranch.

WHY LARRY GROSSMAN AS YOUR REALTOR AS OPPOSED TO A "TEAM" IN THE VAIL VALLEY?

2008-11-17T16:47:00.005-07:00

Entering my fourth year in the Real Estate industry here in the Eagle/Vail Valley I have had the opportunity to work both as an individual broker and also worked with a Real Estate Team. For me it was clear which was the better option for me professionally and working as an individual, one on one with my clientele has far and away provided me with the best option to service my clients as only they should be. I found that with the "team" concept, that is a group of several people on your transaction, there was too much chance of a failure in communications between team members and that they had so many properties to deal with at one time that your particular property could become "lost in the wash" of everything that was going on in the other transactions that the team was trying to handle simultaneously. I found this frustrating and made the decision that if I was solely responsible for my clients needs, that I could more easily schedule events for each "deal" so there were no conflicts of interest on my side of the transactions I was handling. My first three years in the industry have proven that I have a clear vision of what price your home will sell for as a listing agent and what I think is a fair purchase price for my clients as a buyer's agent. So when the time comes for what may be the biggest transaction of your lifetime, or close to it, and you want a realtor who is going to give you 100% of his time and knowledge, call me, Larry Grossman, to get the deal done in a time frame that works for you. Call Larry at 970-376-1244

HOME PRICES IN EAGLE AND EAGLE RANCH CONTINUE TO DROP

2008-11-13T11:12:00.006-07:00

Opportunities continue to appear in the Eagle and Eagle Ranch area as the mortgage "crunch" slowly begins to affect even those who appear to be the most insulated from the circumstance of a very unstable economy. What this means for buyers who have planned properly for this opportunity and have the available funds, is that there are more and more very appealing price points on a variety of amazing properties in our market. In some cases, square footage prices have dropped dramatically and these are the homes which are selling while most others sellers continue to sit on their over priced properties and pay heavy mortgage payments instead of pricing the property correct in our changing market and selling their home. Recently, another custom home in Eagle Ranch which was originally priced close to 1.3 million dollars sold for $907,000. This represents a 30% price reduction! For more opportunities like this one call Larry Grossman today at 970-376-1244

DUSTY BOOT IN EAGLE RANCH OPENS, ANOTHER REASON TO BUY IN PARADISE

2008-11-13T10:38:00.005-07:00

from the vail daily

EAGLE, Colorado — Owner John Shipp wants the new Dusty Boot Steakhouse and Saloon to be the place in Eagle. The place to grab a burger ... the place to enjoy an after-work brew with friends ... the place to catch the game on Sunday ... the place to book a private party ... the place to grab some grub on a night when there just isn’t time to cook.“My idea here is we are a neighborhood bar and grill,” said Shipp. “We appeal to a wide range, just about anyone in Eagle.”The Dusty Boot debuts in a brand new, signature building located at the northwest corner of Capitol Street and Founders Avenue in the Eagle Ranch commercial area. The 9,654 square foot building features the 2,153 square foot street level Dusty Boot restaurant with office space above and storage space in the basement. Come summer, there’s a 1,316 square foot outdoor area for al fresco dining.“We’ve been doing restaurants more in tourist areas. We’ve been on the ski mountain for years. It’s nice to get more into a local feeling, to be more of a home town place,” offered owner Chrissy Shipp.The Dusty Boot in Eagle features three distinct dining areas. Right inside the front door is a spacious bar that features four flat screen televisions. Shipp says it should be a perfect place to hang out and catch any game.The main dining area is located on the other side of a brick wall with an arched opening that forms the bar’s backstop. Booths line the walls, including the full-length glass windows featured along the building’s exterior, and tables punctuate the center space. For sports enthusiasts who prefer dining rooms to bar areas, the game will be on here, too. Three flatscreen televisions decorate the dining area walls.A small dining room is located along the back wall. The area can accommodate overflow from the main dining room or a retractable wall can be used to make it a private party area. Shipp noted a large projector system has been installed in the area, making it a great facility for business presentations or parties. Beyond the restaurant amenities, Shipp noted the new Dusty Boot will offer the same great food the business is known for. And for folks who want to enjoy Dusty Boot cuisine, but who don’t want to spend the night outside their homes, a full take-out operation including rotisserie entrees, will be offered at the Eagle location. The new service is called Boot-to-go.Shipp notes, with pride, that the new Dusty Boot building in Eagle is actually called the Jack C. Shipp building in honor of his late father. Four Shipp brothers are the owners of the Dusty Boot enterprise.“We put lots of extras in the building and we spent money where we think it will matter,” Shipp said. “We have bought into the growth of the downvalley.”Now the doors are open and Shipp is ready to roll. “We think this concept is what Eagle is looking for.”The Dusty Boot is serving food daily from 11 a.m. to 9:30 p.m., though the bar will stay open later. For more information, call 970-328-7002.

EAGLE REAL ESTATE PRICES CONTINUE TO SLIDE

2008-11-10T09:38:00.007-07:00

This property is back on the market as of 1/5/2009. Wow, great deals continue to pop up in the Vail Valley like this beautiful home on Hernage Creek Road in Eagle Ranch which just recently went under contract after the seller dropped the price to an incredible $649,000. This 4bd/3.5bth single family home sits on nearly half an acre and has outstanding finishes along with a two car garage. Origanally listed at $829,000, this represents a nearly 25% price reduction and at just a bit over $200/sqft is an outstanding value in the wonderful neighborhood of Eagle Ranch. There are other outstanding values in the Eagle area as we speak, and only a well informed realtor will have the "inside" information to be able to let you know exactly what is going on in their area of business. An informed realtor will often know what is motivating sellers to sell and be able to negotiate on your behalf to get you the best price on a home such as this one. Call Larry Grossman today at 970-376-1244 for more information.

EAGLE RIVER STATION CONTINUES TO PUSH FORWARD

2008-11-07T12:49:00.001-07:00

From the Vail Daily 11/07/2008

EAGLE, Colorado — Studying building heights, parking spaces, and affordable housing, the Eagle Town Board continues to pore over the details of the Eagle River Station proposal.Eagle River Station developer Mike Hans of Kansas City, Mo.-based RED development noted the project has a letter of intent from an “anchor” tenant and has generated a lot of interest from other retailers. Confidentiality agreements prevent him from disclosing additional information, but he added that Eagle River Station is a solid economic proposal, he said.As part of the overall development plan, Eagle River Station would build 581 housing units both for its own employees and for other workers in Eagle County. Consultant Heidi Aggelar said 58 of the units would be deed restricted in the town of Eagle’s housing program. An additional 105 units would be classified as workforce housing. The remaining units would be sold on the free market.In response to question regarding the housing need at Eagle River Station, Aggelar estimated that 1,888 jobs would be created at the development including:• 1,320 retail sales jobs.• 365 bar/restaurant jobs.• 130 lodging jobs.• 71 residential development jobs.She noted, however, that 1,888 jobs does not equate to the need for that many housing units because employees will share units and some workers will already reside in Eagle. Aggelar said home prices will range from $174,000 for studios to $389,000 for three-bedroom units.“Eagle River Station is substantially more affordable than anything you can get in the market now,” she said.Town Board members expressed willingness to accept the housing plan. “I personally feel you have met the housing requirement,” said Eagle Mayor Ed Woodland. Condos would be located above the stores, and construction would be phased, Hans said.

SOLD AND UNDER CONTRACT....520 MCINTIRE, EAGLE, COLORADO

2008-09-12T14:23:00.007-06:00

Just SOLD in Old Eagle for a very healthy $317/sqft. This wonerfully remodeled home may be a sign of things to come. With interest rates dropping for those who have solid credit rating on FHA 30 year money, the market may begin to loosen up a bit here in the Eagle Valley. There have been many more properties sold and "under contract" in the past 4-6 weeks. Sellers are finally beginning to see the light and dropping prices to their "selling" points.

Also, just UNDER CONTRACT, is a wonderful Addison Loft in Eagle Ranch which one of my clients is excited to move into upon completion of construction. Things are looking up in the lower Vail Valley!

STRATTON FLATS, AFFORDABLE HOUSING IN GYPSUM FOR SALE

2008-07-11T04:49:00.005-06:00

Stratton Flats, a Gypsum development that will be a mix of 339 deed-restricted and free market condos, townhomes and single-family homes went on market yesterday. Stratton Flats
Prices for deed-restricted residences begin at $171,000 for condominiums, $300,500 for town homes, and $343,000 for single family homes. Free-market residences start at $344,000 for townhomes and $394,000 for single family homes. Call me today for morem information at 970-376-1244.

EAGLE COUNTY TRANSACTIONS FALLING DRAMATICALLY

2008-07-01T09:14:00.001-06:00

Eagle County transactions and volume running behind last years record breaking year.

Eagle County real estate continues to run behind last year’s numbers with May the second slowest month since 1996. May’s dollar volume was $158,543,900, down 47% from a year ago, and the dollar volume year-to-date stands at 70% of 2007.

Keeping this month’s dollar volume boosted were 13 Arrabelle units selling for a total of $43,730,000, and 3 properties selling for $10 million or more. The highest selling single residential property was in Bachelor Gulch selling for $11,875,000. Due to the continuing sale of high-end properties, our average sales price is 32% higher than last year at $1,417,166.

Year-to-date, transactions are at 53% of last year with 107 transactions, and the total dollar volume is down by 30%.

There are currently 1,607 residential listings on the market. Nearly 51% of those listings are priced over $1 million; 10% are priced under $400,000.

May highlights:

Arrabelle accounts for more than 28% of the month’s total dollar volume at $44,630,000
Eagle had the most transactions at 16
Bachelor Gulch had the highest average transaction price of $6,137,500

INVENTORY CONTINUES TO RISE, PRICES CONTINUE TO ADJUST.

2008-06-24T12:06:00.004-06:00

Recent trends in the "down valley" market continued this past month as more inventory comes on the market here in Eagle. There are now 200 properties listed in both Eagle and Eagle Ranch and another 100 in Gypsum. These numbers includes all single family, condominiums and townhomes. Sales remain sluggish however there has been a small trend on the entry level as I have noticed single family homes with no HOA selling better than the condo and townhome enclaves which have substantial HOA payments. Entry level buyers are opting to put potential HOA payments into their monthly mortgage payment and are purchasing single family homes in the Gypsum area which are priced in the $300,000's. There are still deals out there for buyers, and I encourage you to call me if you are looking for property at this time. An experienced agent will be able to get you the best price on a property in this tough market as negotiating a fair price now becomes very important for buyers. Desperate sellers want offers right now and it is wise to get the process going with an offer on a property you find attractive. There are also still creative financing opitons out there as well. Watch for prices to continue to fall in the next 12-18 months as the market becomes even better for buyers in the Vail Valley.

PRICES SLOWLY ADJUSTING IN THE VAIL VALLEY

2008-05-14T13:00:00.002-06:00

All though prices in our valley have been resistant for the past six months to drop, we are beginning to experience some modest price corrections for those who are in a position of having to sell their homes. The national average of nearly an 8% drop in home prices during the first quarter is beginning to creep it's way into certain niches of our market. Some 2bth/2bd condos and 3bd/2bth townhomes that were priced in the mid $300's to mid $400's are seeing price reductions of 7-10% which is very good news for buyers, hence, I personally have seen more buyers stepping into the market as the search for more reasonably affordable homes. Financing continues to be a challenge for some buyers I am working with, but with the modest price reductions they are seeing some real options becoming available and are out shopping again...which is great news for sellers who have priced their homes according to market needs. As prices continue to slowly adjust, I believe the market will become "alive" again, it's only a matter of time!

A GREAT NEW LISTING IN OLD EAGLE

2008-05-01T12:04:00.006-06:00

520 McINTIRE STREET, EAGLE, CO.

This charming home built in 1952 is just a couple of blocks from all the great renovations going on in downtown Eagle. Three bedrooms and two bathrooms as well as a wonderful open living area. The interior of this home has been completely remodeled and has an amazingly warm atmosphere with very tasteful finishes. The large fenced yard is a bonus in this part of town and you are literally a three minute walk from the summer concert series at the town park. Want great cup of coffee? Just walk to Yeti's Grind on Broadway for that cup of Jo.
List Price $445,000.

PRICING YOUR PROPERTY IN THE CURRENT MARKET

2008-03-05T11:28:00.005-07:00

With the market swinging towards a buyer's market, if you are currently either selling or thinking about selling a property it is important to come up with a solid strategy that will get you that fair market price quickly. Let's face it, even in the Vail Valley the days of simply pricing your property at the "high end" and getting multiple offers within a week are temporarily on hold. We are currently in a "reality check" mode as buyers have a big selection of inventory to choose from. Pricing your property to sell is critical at times like these, so what does that mean? First of all your property must be perceived as a good value to perspective buyers, this is because there is a glut of inventory on the market. Unreasonably priced properties simply will get very few looks and offers in this market. Secondly, if your property is priced properly, you most likely will get an offer that is close to asking price. Personally, I have gotten two full price offers and one very close to full price on three of my last listings because the properties were priced to sell. The sellers had a realistic view of what they could get for the property in this market, priced accordingly, and sold there properties for full price or very close...of course that then provides them with an opportunity to move into their next home and shop in a market which is favorable to them as a buyer at this time. The bottom line is price to sell "smart" and realize that we are in a changing market for sellers and buyers alike.

THE PERFECT STARTER HOME...

2008-02-29T09:15:00.004-07:00

UNIT 101-2, QUAIL RUN TOWNHOME, GYPSUM

Stepping up to buy your first home, especially in the Vail Valley here in Eagle County, can be a challenge even when times are described as "thriving" in our economy. With managing finances for first time buyers in a "challenging" phase, it is critical to find the correct property for your needs. This townhome located in the Quial Run Townhome subdivision is the perfect fit for the first time home buyer looking for an affordable first time home. With 1544 sq.ft. of living space, 3bd/3bth, a one car garage, a $5000 R.O. (reverse osmosis) water treatment system from Aqualogic, insta hot water in the kitchen and a 50 gallon 60,000 BTU water heater, this unit is priced incredibly well at $329,000. What is more important for the first time buyer is that the unit has a "lockoff" unit on the bottom floor with it's own entrance which can offset your mortgage payment at least $600/mnth with rental income.

The unit is very well kept and clean. Call me today for a showing of this great townhome in Gypsum.

AND WHAT ABOUT GYPSUM?

2008-02-28T19:37:00.004-07:00

Surprisingly enough, there was only one closed transaction in the town of Gypsum in February. This closing was on a single family home in the Gypsum Estates II subdivision which sold for $330,000. This home was a 3bd/2bth and was 1341 Sq. ft. This home had been on the market for 189 days. Do you read anything into those numbers?

The upside in the Gypsum area is that twelve other properties went under contract in Gypsum during the same time period. Three of these were Sky Legend homes in Cotton Ranch which were listed from the low to mid $500,000's.

The top priced property in Gypsum to go under contract was 903 Mayne in the Horse Pasture 1 development. This was a spacious home, 3552 sq. ft. 5bd/4.5 bths with an oversized three car garage which was listed at $895,000. This property was on the market for 73 days before going under contract.

The DOM (Days on Market) trend has seen a fairly significant rise over the past year on average. Sellers should remember that in this "difficult" market as described by some, that it is critical to price your property so it is perceived as a good value or it may take some time to sell. My advice to sellers in this market is to list their property at what appears to be a very good value, then you will most likely be presented with an offer which is close to your asking price. Case in point, the last three listings I have had offers on were for FULL PRICE.

WHAT IS SELLING IN EAGLE RANCH?

2008-02-28T09:13:00.003-07:00

Oddly enough, the condo and townhome market which was on fire just a year ago has slowed dramatically in the Eagle and Gypsum area. Why? As most of you know the Mortgage industry has been blamed for quite a bit of what is going on in today's market along with a surpluss of inventory in all real estate sectors. Now that the entry level buyer can longer find the "arms" and finance 105% of loan to home value it has restricted the buyer at this level from getting into the housing market. To find a 30 year loan with good interest terms, most buyers are now required to have 20% of the money down at closing. This has made it much more difficult for most entry level buyers to get into the housing market in our valley. Hence, the slow down in entry level housing unit sales.

There are still moderate sales numbers of homes in the $600,000-$900,000 range here in Eagle Ranch and there are 25 homes listed over $1,000,000. Listing prices on these homes have consistantly dropped over the past couple of months, but not significantly in most cases.

These homes continue to sell at a moderate pace as the cost of construction plus the cost of dirt are currently near a wash versus the cost of a custom built home in today's market.

EAGLE RANCH AND LOT VALUES

2008-02-28T08:50:00.004-07:00

There are currently 57 lots available in Eagle Ranch. The price range for these lots is $195,000, which are lots at the lower elevations of Eagle Ranch, to $429,500 for a lot in the Highlands subdivision. Most of the lots which are priced at the "low" end of this spectrum are located in the valley floor of Eagle Ranch on or around the golf course. The lots on the "high" end of this spectrum are typically elevated and in the Highlands subdivision. Some things to consider when looking at lots in this area include concerns about traffic flows, noise issues and distance from the core of the Town of Eagle. Golf Course lots have a wonderful "open space" feel, but can have noise related issues with golf course maintenance work very early every morning during golf season. Lots in the Highlands require a build that must contain fire retardent system (sprinklers) adding significant cost to the construction of your home, they do have some outstanding views and are located the furthest south of all lots in the Eagle Ranch subdivision.

Then there is this lot in the Mesa. A rare opportunity on a large .7 acre lot with fantastic elevated views of the surrounding mountains and valley.

53 south pensteman lane

REDUCED

This lot is offered at $245,000 and is the perfect place to build your dream home in Eagle Ranch.
Call Larry Grossman
970-376-1244

WELCOME TO THE EAGLE REAL ESTATE BLOG

2008-02-28T08:33:00.002-07:00

Welcome to the "Eagle Real Estate Blog". This blog site has been created to help you, the consumer who participates in the world of real estate here in the Vail Valley, keep up with current trends in the down valley real estate market. I constantly get questions regarding the market here in Eagle and Gypsum, the area that I specialize in, and now you have a place to find most of your answers as well as ask questions. I look foreward to serving all of you in the near future as one of the most dependable agents in the down valley region. If you would like to continue to pursue your Colorado Dream and find your perfect home fit, call me today. Regards;

Larry Grossman

Keller Williams Mountain Properties

Eagle, Colorado

970-376-1244

lgrossman@kw.com