| The weather couldn't be nicer here in Vail - 68 degrees and sunny almost every day. Like clockwork! I am sitting here at my desk looking out of my window right at Solaris - the new development replacing the old Crossroads building in Vail Village. I am watching the cranes erect pieces of the foundation and imagining the finished product as it will look in two years. I brought a client to Solaris four weeks ago. They were interested in potentially purchasing a residence there. Penthouse "O" will sit 7 stories above the ground (I just had to crank my neck to look up to the top of the elevator shaft that will take you to the residence's front door) and look over the top of every building between it and Vail Mountain. There has never been, and may never again be, a view like the one from "O". Majestic views of the Gore Range at sunset; unobstructed views of Vail Mountain from top to bottom. Nothing will block the 14 foot windows gracing this fabulous home. The finishes will be some of the finest at any resort, anywhere in the World. The outdoor skating rink, shops, fine dining, bowling alley and movie theaters will make Solaris THE place for people of all ages and interests. But even at a great price for a home of that stature ($6,875,000 for nearly 3,000 square feet and 3 bedrooms plus den), the sales office at Solaris has told me 5 contracts have been sent to buyers and none have been returned. Thus, one of the rarest and finest properties ever to be offered in the Vail Valley is still awaiting its new owners. Hard to believe? Yes and no. There are 23 residences available at Solaris - ranging in price from $2,375M for a 1 bedroom to $19.2M for 6 bedrooms and nearly 7,000 square feet. At Four Seasons, there are 10 available homes ranging in price from $5.3M for a 3 bedroom to $16M for a 5 bedroom with 5,812 square feet. At the new Ritz Carlton Vail (chairlift next door has been approved), there are 23 residences available ranging in price from $2.3M for a 2 bedroom to $11.2M for a 6 bedroom with 4,127 square feet. Although developers are saying they will hold out until the market improves, my experience tells me they have to be getting nervous. When a developer has around 30% of their inventory still sitting on the market, as we are seeing in all the buildings mentioned above, it's time to make some deals. And although Brokers are being told it's list price or nothing, we are starting to hear whispers of negotiable prices in the wind. Although the developer of Solaris is telling us price increases are likely once the building is complete, I would be fairly sure he would rather move his product sooner than later. In my opinion, the best values in town are the Ritz Carlton or Penthouse "O" at Solaris. Give me a call sometime at 970.477.5305 (or shoot me an email) and I'll tell you why... |
Cascade Village Glen  $6,995,000 |
Vail Village $3,995,000 |
Avon $1,899,000 |
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