REAL ESTATE SPOTLIGHT VAIL MARKET UPDATE – HIGH-END MARKET IN VAIL HITS NEW LEVELS
January 4, 2017
Slifer Smith and Frampton Real Estate Plays Integral Role
Compiled by KIM FULLER
Content sponsored by SLIFER SMITH & FRAMPTON REAL ESTATE
WE ARE WITNESS to what I believe to be a new bar being set in Vail Village in 2016," shares Led Gardner, Branch Broker of Slifer, Smith & Frampton's Bridge Street office. Six duplex and/or single family homes, all located within the Town of Vail and priced between $13 million and $26 million, have sold or been placed under contract this year. Our firm has played an integral role in this resurgence, participating in four of these six transactions. Of note, five of these properties were speculative developments."
Following a soft start during the first half of the year, he says the luxury niche is rapidly making up ground, "Buyers at the high end of our market are exhibiting a renewed sense of confidence with the approach of the New Year," Gardner says. "Just last week, our team successfully closed a $17.5 million transaction on West Forest Road, working with both buyer and seller in the sale."
States Gardner, "Momentum at these price points will launch 2017 in a positive direction for the market valley wide. This renewed activity and optimism is being shared with visitors during the all-important two weeks over the holidays, and we are experiencing strong showing activity as a result."
Also of interest to savvy buyers in the Vail market are the number of unique new listings which represent true, one-of-a-kind properties. Whether a ski-in / ski-out home on Beaver Dam Road, a sophisticated slopeside penthouse in the Golden Peak area, or a quiet pied-à-terre in the heart of the village, interesting opportunities abound for today's buyer.
The firm's market dominance throughout the Vail Valley, Gardner adds, offers tangible and important benefits to the firm's clientele, providing a valuable depth of professional insight, market knowledge and expertise. "Our brokers communicate daily regarding new
listings, deals under contract and closed sales, oftentimes over coffee or lunch in our back offices. We have literally put deals together over coffee in our work room – transactions that might never have come together had it not been for the conversations that take place in our offices daily," says Gardner.
Donna Caynoski, Broker Associate for Slifer, Smith & Frampton, has worked for two other high-profile boutique real estate companies in Vail Village over the past three decades. Caynoski says, "Whether the valley is experiencing a strong or a weak market, I have experienced firsthand that no other company can provide better exposure and representation for their clientele."
Currently under contract by Caynoski is 107 Rockledge Road in Vail Village, which was listed at $26M. "It is such an outstanding honor to represent this home and these owners," she says, "This home, at the bottom of the Bear Tree ski run, is one of only a handful of true ski-in/ ski-out properties in Vail. These premium locations don't trade very often, and the new buyers are savvy enough to understand the value of this home." Given the sizable amount of money being invested in custom homes currently under construction in the neighborhood, Caynoski says the value of 107 Rockledge was strongly supported.
Slifer Smith & Frampton Real Estate serves clients from the world over, as well as the Front Range and locally here in Eagle County. "The numbers tell the story better that I can," shares Caynoski. "Whatever the market niche, we are consistently the highest producing company in the valley. Our Vail brokers generate buyers not only in Vail, but throughout the valley. Likewise, the firm's Beaver Creek, Bachelor Gulch and other brokers within the company regularly bring buyers for our Vail Village properties. States Caynoski, "Our team effort is in fact valley-wide. Our customers essentially get the benefit of 18 boutique brokerages spread throughout the Vail Valley."
In addition to more than five decades of Slifer's service in the Vail real estate market, The Slifer Smith & Frampton Foundation has donated more than $1.5 million over the past decade, ardently supporting many local charities and causes. "There is a tangible difference at Slifer, not only in our market performance, but also the way in which our company and its brokers support our community — financially and with valuable volunteer time," Caynoski explains. Adds Gardner, "We are not just an integral part of the real estate market in the Vail Valley, but even more importantly, we are an integral part of the Vail Valley itself."
For more information and to contact Slifer Smith & Frampton Real Estate, visit vailrealestate.com.