Slifer report optimistic about real estate market
May 9, 2012
VAIL, Colorado – In the opening letter of the 2011 edition of The Slifer Report, Jim Flaum, president and managing broker at Vail Valley-based Slifer Smith and Frampton Real Estate, said that last year when asked about his view on the Vail Valley’s real estate market he used the phrase “cautiously optimistic.” In 2012, Flaum is dropping “cautiously” for the more concise and encouraging “optimistic.””We expect that the real estate market in 2012 will outperform last year,” Flaum said. “Our first ever quarterly version of The Slifer Report was recently released and the review and information in it shows that 2012 is off to a solid start.”No doubt that is a welcomed outlook for most people with ties to real estate in the Vail Valley. In fact, in 2011, there were 1,357 real estate transactions in Eagle County, up 9 percent from transactions in 2010. Though the average sales price in 2011 was down from 2010, likely because of the increase in bank sales, the 2011 Slifer Report shows a 7.71 percent average appreciation annually since 1987 and that 2011 still had an increase in transactions of 29 percent over 2009.Other highlights from the 2011 report include 40 residential sales of $4 million or more in Eagle County; a Slifer Smith & Frampton listing in Vail that sold for $12.5 million; and a Slifer Smith & Frampton listing for a residential home site in Vail that sold for $6.825 million. “There are a number of factors that we’re watching in 2012 that we believe benefit the Vail Valley,” Flaum said. “Mortgage rates are at the lowest levels and availability of credit still continues to loosen. Inventory levels throughout the Valley reached a four year low in January of this year (1,441) and residential and land remains stable. In addition, our local economy continues to improve compared to other resort markets.”Slifer Smith & Frampton Real Estate was responsible for $862 million in sales in 2011, far exceeding that of other Vail Valley firms – the next largest producer being responsible for $177 million of total closed sales volume in 2011. In the first quarter of 2012, Slifer brokers have already exceeded $244 million in closed sales volume, keeping in line with Flaum’s optimistic outlook for 2012.Information in The Slifer Report is available to the public and offered as a service to those interested in selling, buying or tracking the Vail Valley real estate market.”The Slifer Report is a valuable tool and provides in-depth information about sales in various towns, neighborhoods and areas throughout Eagle County and for various types of properties; everything from small condominiums and single family homes to large ski homes and ranches,” Flaum said. “It contains a tremendous amount of useful information and is available to everyone.”Those interested in reviewing The Slifer Report can do so online by visiting http://www.vailrealestate.com or by stopping by or calling one of Slifer Smith & Frampton Real Estate’s numerous offices throughout the Vail Valley for a hard copy at 970-845-2000.Founded in 1962, Slifer Smith & Frampton Real Estate is celebrating its 50th anniversary in 2012. In 2011, Slifer Smith & Frampton launched its new Latin American division furthering the relationship between Latin Americans and the Vail Valley.