Vail Daily column: What is a ‘luxury’ home?
I hear a lot about the luxury market in the Vail Valley and would like some clarification on what exactly that means. I presume it mainly refers to the ski resort areas of Vail, Beaver Creek and Arrowhead and applies to multi-million dollar homes. Do most agents in the valley primarily sell luxury homes? It seems that most Realtors emphasize that category. I am not poor, but I do not consider myself a luxury buyer. I want the best Realtor I can find, and especially one who is willing to work and help me within my price range. How do I find that person?
This a great question and there is a lot of confusion about who sells luxury and who doesn’t — or which Realtors do both. In my world, it is commonly accepted that any property that is $1 million or more can safely be called luxury. That being said, we all know there are some older, not updated million-dollar condos in Vail that you would not walk in and think, “This is luxury.” And, there are some homes further from the resort area in the valley that are gorgeous but may be less than $1 million.
So far in 2015, there have been 342 residential properties sold for $1 million or more (sometimes a lot more) and there have been 894 residential properties sold for under $1 million. Since there are just a little over 600 Realtors in our Vail multiple listing service, it is obvious every Realtor is not selling luxury all the time.
My suggestion is to call several Realtors and tell them what you are looking for. Ask them to send you some information and homes which fit your parameters. It will not take you long to figure out who is the most knowledgeable and helpful.
I think the more important question is, what kind of luxury service you are going to get from the Realtor you choose? Some of us sell everything, in all price ranges, because we think it is important to know the broad spectrum of our market so we can give our clients all of the information they need to make good financial decisions. We often help our clients’ children and parents find their first or last properties, and it is a great help to understand the whole market. Our valley is not so big or complicated that one agent could not know, or at least access the resources to find out what their client needs in each area.
Do some, or many of us, have more knowledge in one area than another? Yes, but I believe the more important factor to consider is whether or not your Realtor wants to help you find what you want — in the price range where you are comfortable.
My suggestion is to call several Realtors and tell them what you are looking for. Ask them to send you some information and homes which fit your parameters. It will not take you long to figure out who is the most knowledgeable and helpful. Have a great holiday and good luck finding that agent that will provide just what you are looking for!
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years, is a past chairman of the Vail Board of Realtors, a past Realtor of the Year, a past director on the Great Outdoors Colorado Board and a member of the Luxury and Land Institutes. Contact Harned with your real estate questions at Joan@TeamBlackBear.com, 970-337-7777 or http://www.SkiAndTeeHomes.com.