Category: Vail Valley Real Estate

The Vail Valley in the off-season

18Oct 2011
Beaver Creek Golf Course in the Fall

Beaver Creek Golf Course in the Fall

The Vail Valley is most famous for it’s skiing, but there are plenty of equally enjoyable activities when we are not surrounded by snow banks. Fall is arguably the Valley’s most beautiful season, with richly painted foliage contrasting sharply with the stark white aspen trunks. It’s the ideal setting for a leisurely hike with your camera—since it’s never too hot or too cold for a stroll through the woods. It’s a time to relax and take in the breathtaking scenery, and enjoy incredible golf, mountain bike & hiking trails and pleasant temperatures.

For everyone who has skied the Valley’s world class resorts, the first thing you’ll notice when visiting Vail and Beaver Creek in the fall is how quiet it is—with far fewer visitors, the town settles into an easy, peaceful groove, far removed from the hustle and bustle of ski season. You’ll have a little extra room to breathe and a little extra cash in your wallet when you vacation in the fall—restaurants lower their prices by as much as 50% when the tourists are gone, and even the groceries are less expensive.

Aside from the gorgeous fall colors and crisp autumn air, the Vail Valley offers something for everyone. For the sportsman, there is world-class fishing. In fact, the America’s Cup fly fishing tournament just wrapped up in September. Held in the Colorado and Blue Rivers, the tournament draws competitors from all across the US.

Beer enthusiasts and lovers of lederhosen alike had a ball at the hugely popular Beaver Creek Oktoberfest this Labor Day weekend. The festival boasted culinary delights from all over town, German folk music, and Bavarian costume contests, among other events. Numbers for this year’s festival were big, with over 6,500 attendees. On Saturday alone, more than 4,500 people showed up—an increase from last year.

Don’t worry—the fun’s not over. Click here for upcoming events in the Vail Valley. 

Luxury and vacation homes are selling

30Sep 2011

The growing number of high net-worth individuals nationwide is breathing new life the luxury real estate market, particularly in mountain resort areas such as Vail and beachside
communities in California. Markets like New York City have started to see a slight uptick in median price, but for now most positive market news is anecdotal. The increase in the number of wealthy Americans is real, however—according to HousingWire, the number of millionaires in the US grew by 9% in 2010, bringing the total just shy of the pre-recession total of 9.2 million. Wealth always brings investment, and a survey by the Institute for Private Investors found that 30% of high net-worth individuals plan on investing in 2011.

Vacation homes are not just the province of the affluent in 2011, however. According to a survey conducted by the National Association of Realtors, vacation home prices fell more dramatically than residential home prices last year. In 2010, vacation home prices sunk by 11%, compared to 6% for primary homes. The continued price decline has made buying an attractive option for many who never considered owning a second home an option. Prospective buyers should expect to keep their bargain vacation home for a long while, as prices show no sign of increasing. However, renting remains a viable option to offset the cost of purchase.

A healthy tourism industry in the Rockies will provide Vail Valley resort communities with an economic cushion to offset recent market conditions.  Job markets in Colorado remain strong comparatively, and the state was ranked #19 out of 50 in a recent US Bureau of Labor and Statistics report on 1-year job gains. Fourteen Colorado-based companies made the Inc. 500 list  of fastest-growing private businesses this year, and Vail’s own Rocky Mountain Vacation Rentals was honored in the top 5000, along with Summit County-based Pinnacle Mountain Homes. Based on the magazine’s rankings, it is clear that the fastest-growing private companies in the Rocky Mountains are in the growing tourism and real estate industries. Vail Valley has the perfect storm for buyers—a growing economy and falling prices.