Avon’s Ascent inks 14 contracts on day one | VailDaily.com

Avon’s Ascent inks 14 contracts on day one

Daily staff report
Vail, CO Colorado

AVON, Colorado – The Ascent, a 49-unit condo building at the entrance of Beaver Creek in Avon, locked in 14 contracts, with buyers from as far away as Egypt, on its launch day Thursday.

The first offering was scheduled to begin at 3 p.m., and Peter Wells, co-founder of owner Condo Capital Solutions, was signing 14 contracts by 5 p.m.

“We knew there was tremendous interest and had validation when I received my first contract in the first hour of sales,” said Lissa Tyler, branch broker for Slifer Smith and Frampton Real Estate. “We executed 13 additional contracts, which was beyond our expectations. Our initial launch was 25 of the 49 units. Several had more than one offer with options for second choices from buyers. We haven’t seen this much vibrancy in the market in two years. I believe it speaks to the fact that savvy buyers are aware of tremendous value coupled with a demand for excellence in quality and design.”

Wells, a veteran Rocky Mountain investor and managing partner in Condo Capital Solutions, said that The Ascent presented the company with an ideal “backyard” opportunity in the Vail Valley. The company purchased the property by purchasing the bank note and then foreclosing, enabling it to offer discounts from the original developer pricing.

“We’ve been able to take advantage of the ‘reset’ in the mountain real estate market,” Wells said. “Currently, there is aggressive re-pricing occurring in the market. For savvy investors and buyers interested in the lifestyle and staying power of a resort like Vail or Beaver Creek, this is an opportunity not to be missed.”

Prices are approximately 50 to 67 percent of the 2008 pricing, with units for sale from the mid-$300,000s to $1.1 million.

For more information about The Ascent, visit Slifer Smith and Frampton Real Estate at 30 Benchmark Road in Avon or call 970-748-8444 or 888-692-7360.

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