in tHis issUe >>

Real estate market update 2

A new strategy: Auction Division 4

By the numbers 4

Market watch 5

“Epic Summer” vacations 6

Getting here 7

VailRealEstate.com goes mobile 7

Updates on developments around the Vail Valley 8

“Vail All The Love” promotions 10

Calendar of events 10

Summer 2009

www.VailRealEstate.com

INSIDe INSIDe eDGe

SLIFer SmITH & FrAmPTON reAL eSTATe

News from the most trusted name in Vail Valley real estate since 1962

Phot

o by

Jac

k A

ffl ec

k / V

ail R

esor

ts

2 | INSIDe eDGe

Real estate market updateFrom Slifer Smith & Frampton President and Managing Broker Jim Flaum

Wait and see. Based on the current state of the economy, people are understandably taking

a conservative approach when making the decision to buy a mountain property. This is

evidenced in the fact that while Eagle County set sales records during the past few years,

sales have slowed over the past six months.

As a result, a “buyers’ market” has emerged, and Slifer Smith & Frampton is seeing a lot

of interest in the properties we have listed. People are looking at as many properties as

they can and making a list of what they may or might not like for when the time comes

that they’re ready to buy. In the meantime, they’re positioning themselves to make a

well-informed, fi nal decision. We have not seen a decline in our amount of showings and

our website visits are also up 20% in the last six months. Once the economy fi nds a strong

foothold, we’re confi dent a solid level of activity will ensue.

For the deals that are happening now, buyers are fi nding incredible values. There are a number

of motivated sellers who want to sell their home in the mountains as soon as possible. This has

created good opportunities for buyers who are ready to make an offer, resulting in sellers who

are negotiating in good faith in order to close on deals. First quarter 2009 has shown stronger

sales dollar fi gures in the month of March than in January or February. Residential transactions

through March 2009 include 89 properties with 25% of sold properties under $500,000, 38%

between $500,000 and $1,000,000 and 37% over $1,000,000. Land and commercial sales

accounted for an additional 57 transactions through March 2009.

Summer 2009 | 3

For buyers with a great deal of cash or equity

available for a down payment on a home, there are

great fi nancing packages available, which is inspiring

people who have the means to buy right now.

Interest rates are very low, and there are deals to be

found, which is causing some people to act now on

the purchase of a mountain home.

While good buying opportunities are available, some

sellers (who aren’t hard-pressed to sell their home)

have simply taken their mountain property off the

market. They would rather wait for market conditions

to improve than sell their home for less than what it

may be worth in the future. As a result, there has not

been an overabundance of inventory relative to other

markets. Our inventory level over the past twelve

months has remained stable with 2,015 active land

and residential listings in the Vail Board of REALTORS

Multiple Listing System in early May 2009.

Throughout our 18 offi ces we are still seeing a lot

of active buyers coming from Denver, Boulder,

Colorado Springs and surrounding areas. This is in

contrast to some people’s perception that mountain

properties are just being sold to people from other

states or countries. We have found that our unique

resort experience and desire to live in the mountains

comes from near and far. We see this as a good sign

for the state’s overall market conditions.

2009 will present people with unique and perhaps

once-in-a-lifetime opportunities in regards to buying

a mountain home. Mountain resort homes remain

popular, especially in the world-class resorts of Vail

and Beaver Creek, and as economic conditions

improve, the demand should grow stronger.

Phot

o by

Jac

k A

ffl ec

k / V

ail R

esor

ts

By the numbers$599.............. The price that Vail Resorts’ unrestricted 6-mountain ..............................Epic™ Pass is currently being offered for on ..............................snow.com/epicpass for the 2009/2010 ski season

57.1 million .... Visits to ski slopes across the country during the .............................2008-2009 winter season

5.91............... The percentage of electricity generated from wind in ..............................the state of Colorado

35.2 million .... The number of Americans that changed residence ..............................last year

9.................... Number of languages LuxuryPortfolio.com’s site ..............................can be translated to, which features all Slifer Smith & ..............................Frampton listings over $2 million

30.................. Number of countries Vail Mountain’s ski instructors ..............................come from

1.................... Beaver Creek Mountain’s ranking for the sixth ..............................consecutive year for having the best overall safety ..............................program for a larger ski resort

34.................. Slifer Smith & Frampton Real Estate’s ranking in the ..............................country for sales volume in the 2009 REAL Trends..............................Power Broker Top 500 Survey

Sources: Snow.com, Denver Post, USA Today, Forbes.com, realtrends.com, LuxuryPortfolio.com, VailDaily.com, National Ski Areas Association

4 | INSIDe eDGe

A new strategySlifer Smith & Frampton expands with Auction Division

The option of buying or selling a home via an auction format has signifi cantly gained

popularity during the past several years. According to the National Auctioneers

Association, the home auction business has increased by more than 46% since 2003.

In a continuing promise to lead the industry and deliver superior results, Slifer Smith &

Frampton Real Estate now brings this unique opportunity to buy and sell luxury real estate

in the Vail Valley through our Auction Division.

While the traditional method of buying and selling homes is still the primary focus of our

company, we’re implementing this new process that will give our clients another option.

Selling your property through our Auction Division will accelerate the marketing and sales

cycle, focusing on local, national and international marketing efforts. Consistent with our

award-winning marketing campaigns utilized in the traditional brokerage, our auction

marketing plan is designed to attract a large pool of buyers and expedite the sales process.

Buying through our real estate auctions, you decide when and how much to bid on a property

with the knowledge that the seller is prepared to sell the day of the auction. As a buyer, you

know the terms and conditions before the auction which eliminates lengthy negotiations.

For more information please visit www.VailRealEstateAuctions.com.

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

$0

$500,000,000

$1,000,000,000

$1,500,000,000

$2,000,000,000

$2,500,000,000

$3,000,000,000

$3,500,000,000

Summer 2009 | 5

Market watch

Data gathered from the Vail Board of Realtors MLS. Information deemed reliable but not guaranteed.

Jun ‘0

8

Jul ‘0

8

Aug ‘0

8

Sep ‘08

Oct

‘08

Nov ‘08

Dec ‘08

Jan ‘0

9

Feb ‘0

9

Mar

‘09

Apr ‘09

May

‘09

1,500

1,600

1,700

1,800

1,900

2,000

2,100

2,200

2,300

2,400

2,500

Eagle County closed sales dollar volume Eagle County active inventory 12-month trend*Includes land and residential

Data provided by Land Title Guarantee Company. Information deemed reliable but not guaranteed.

6 | INSIDe eDGe

“Epic Summer” vacationsVail Resorts introduces a new all-inclusive summer family vacation experience in Colorado’s

Rocky Mountains, “Epic Summer, A Colorado Family Adventure.” It is an innovative program

to help families not only take an affordable summer vacation in 2009, but to also experience

a classic, iconic trip to the American West.

The Epic Summer will combine the best of Keystone, Breckenridge, Vail and Beaver Creek

mountain resorts in Colorado with classic Rocky Mountain summer adventures for locally

guided, all-inclusive family vacation experiences in four- and seven-day itineraries. Trips will

offer an adventurous guided tour of the best of the Colorado Rocky Mountains, including

whitewater rafting, a trip to Rocky Mountain National Park, mountaintop picnic lunches,

horseback riding, nature hikes, gold panning and a cowboy campfi re dinner.

The Epic Summer trips run from June 26 through September 6, 2009. Packages include

experienced guides, accommodations in well-appointed condominiums or lodge rooms

in Keystone or Breckenridge resorts, all featured activities, transportation to and from all

activities, ground transfers to and from Denver International Airport (airfare is not included)

and all meals.

The six-night, seven-day all-inclusive package is priced at $1,195 for adults and $895 for

children (ages 12 and under). The three-night, four-day package is $695 for adults and $545

for children (ages 12 and under).

For more information and reservations, call 888-538-EPIC (3742) or visit www.EpicSummer.com.

Phot

o by

Chr

is M

cLen

nan

/ Vai

l Res

orts

Summer 2009 | 7

Getting hereEagle County Regional Airport (EGE) commercial air service was suspended

April 15, and is expected to resume September 1, 2009. The airport will be

lengthening their runway to accommodate larger airplanes carrying more fuel.

This expansion will allow for more non-stop fl ights in addition to those from the

twelve cities that currently offer direct travel to and from Vail.

During this closure suggested alternate airport options include Denver

International Airport (DEN) and Grand Junction/Walker Field Airport (GJT).

Our transportation partner, Colorado Mountain Express, is pleased to

offer you a 15% discount on your next shuttle or private chauffeured

airport transfer. CME offers shared ride shuttles, charter vans and private

car service to and from the Vail Valley, Summit County, Aspen/Snowmass,

Denver International and Eagle County airports. CME Premier, a private car

service, provides for luxury, privately chauffeured Cadillac sedans, executive

vans and four wheel drive SUVs. When placing reservations please use the

discount code “6SSF” to receive your 15% discount. For reservations go to

www.ridecme.com or call 1-800-525-6363.

VailRealEstate.com goes mobileWith real estate opportunities abounding in the high country, opportunistic

buyers are looking for every edge to fi nd the mountain home they’ve always

wanted. Slifer Smith & Frampton Real Estate recently launched its new

mobile website, giving people searching for properties in the Vail Valley a

huge advantage by optimizing the property search on VailRealEstate.com

website so it can be searched using any smart phone technology.

Now, even when riding a chairlift or fl y-fi shing a

mountain stream, people can view all of the current

listings in the Vail Valley without having to worry about

getting to a computer.

This is the fi rst local real estate fi rm to offer a mobile

real estate website in the Vail Valley, and provides

access to all MLS listings in Eagle County with a

customized and user-friendly platform. It has been

tailored for optimal viewing and navigation on a small

screen, providing up-to-date property details and

photos on a person’s phone.

As company founder Rod Slifer, who has been involved in Vail real estate

for more than 45 years, pointed out “Technology is now truly enhancing our

lives. Now Slifer Smith & Frampton brokers can look at property with their

clients from the chairlift. I love it.”

The Penthouses at Manor VailLocation: Golden PeakavaiLabiLity: 9 of 17 residences remain for salePricing: From $3,400,000comPLetion: Construction completeWebsite: manorvailpenthouses.com

Ever VailLocation: LionsHeadWebsite: evervail.com

TorzettoLocation: East VailavaiLabiLity: 2 residences for salePricing: From $2,399,000 comPLetion: Construction complete

The Ritz-Carlton Residences®, VailLocation: LionsHeadavaiLabiLity: 24 residences remain for salePricing: From $2,244,440scHeDULeD comPLetion: Fall 2010Website: theresidencesvail.com The Tower Residences at Lion SquareLocation: LionsHeadavaiLabiLity: 3 of 9 residences remain for salePricing: From $3,495,000scHeDULeD comPLetion: November 2009Website: thetowerresidencesvail.com

8 | INSIDe eDGe

Updates on developments around the Vail ValleySlifer Smith & Frampton Real Estate is proud to be the exclusive listing brokerage of many developments in the Vail Valley.

Four Seasons Private ResidencesLocation: Vail VillageavaiLabiLity: 10 of 16 residences remain for salePricing: From $5,300,000scHeDULeD comPLetion: Winter 2009Website: vailprivateresidences.com

The Landmark ResidencesLocation: LionsHeadavaiLabiLity: 7 residences remain for salePricing: From $2,850,000scHeDULeD comPLetion: Early 2010Website: landmarkresidences.com

Brush Creek VillageLocation: EagleavaiLabiLity: 12 residences currently available for salePricing: From the low $400,000’scomPLetion: Construction of phase 1 & 2 complete, Summer 2009 scheduled completion of Phase 3Website: brushcreekvillage.com

Highlands at Eagle RanchLocation: Eagle RanchavaiLabiLity: 30 developer homesites available for salePricing: From the low $200,000’sWebsite: highlandsateagleranch.com

Sylvan Square CondominiumsLocation: Eagle RanchavaiLabiLity: 8 of 16 residences remain for salePricing: From $329,000comPLetion: Construction completeWebsite: sylvansquarecondos.com

Addison CenterLocation: Eagle RanchavaiLabiLity: 1 of 4 lofts availablePricing: $497,500comPLetion: Construction completeWebsite: addisoncentereagleranch.com

The Westin Riverfront Resort & SpaLocation: AvonavaiLabiLity: 73 of 210 residences remain for salePricing: From $330,000comPLetion: Construction completeWebsite: westinriverfront.com

South Fork MeadowsLocation: EdwardsavaiLabiLity: 3 of 17 residences remain for salePricing: From $825,000comPLetion: Construction completeWebsite: southforkmeadows.com

Summer 2009 | 9

The Residences at Park Hyatt Beaver Creek®

Location: Beaver CreekavaiLabiLity: 15 deeded shared-ownership residences for salePricing: From $75,000comPLetion: Construction completeWebsite: theresidencesatparkhyatt.com

The PointeLocation: EdwardsavaiLabiLity: 11 residences available for salePricing: From $1,700,000comPLetion: Construction of model home completed Website: thepointeatedwards.com

10 | INSIDe eDGe

June

4-7 ................. Teva Mountain Games cc

26-29 ............. Vail Arts Festival LH

27-30 ............. Vail Lacrosse Shootout FP, DP, va

July

1,3,5,6,8 .......... Bravo! Dallas Symphony Orchestra Fa

1-5 ................. Vail Lacrosse Shootout FP, DP, va

2..................... Blood, Sweat & Tears with ....................... Chuck Negron vc

4..................... Vail America Days gP, vv, LH, Fa

4..................... Bravo! Dallas Symphony Orchestra....................... Patriotic Concert Fa

10,11,12,15,17,18......Bravo! Philadelphia Orchestra Fa

13 .................... Paul Rodriguez, Latin King of Comedy vc

16................... Bravo! National Repertory Orchestra’s ....................... Family Concert Fa

17................... Art in the Betty Ford Alpine Gardens FP

22................... Ronnie Milsap, Country singer vc

24,25,26,29,30,31......Bravo! New York Philharmonic Fa

24-26 ............. Rocky Mountain Antique Festival bc

27................... Savion Glover, Tap dancer Fa

28................... UpClose: Savion Glover vc

29................... SSF Bravo! Client Symphony Shindig Fa

August

1..................... Angels in Action 5K Fun Run/Walk nP

1..................... Miami City Ballet tbD

2..................... Festival Highlights Spectacular Fa

2..................... Diana Krall, Jazz singer vc

3..................... UpClose: Edward Vivella with Miami ....................... City Ballet vc

4..................... Dance for $20.09 Fa

6 ...................... UpClose: Wendy Whelan, Dancer and ......................... Muse vc

7..................... Morphoses 3.0, Dance troupe Fa

8..................... International Evenings of Dance I Fa

9..................... International Evenings of Dance II Fa

10................... Ballroom’s Best Fa

12................... Peter Frampton, Guitar legend vc

Calendar of events

We invite you to dive into all that Vail has to offer this summer with exclusive offers from more than 50 lodging properties, restaurants and bars, shops, galleries, spas, activities and on mountain adventures with Vail All The Love.

Visit vailalltheLove.com to book your discounted lodging for an upcoming vacation to Vail and for an extensive list of Vail All The Love offers.

Summer 2009 | 11

August (continued)

20................... Michael Bolton, Singer/songwriter vc

20-22 ............. Beaver Creek Wine & Spirits Festival bc

29................... Rick Springfi eld, Pop icon vc

September

4-6 ................. Gourmet on Gore vv

5-6 ................. Beaver Creek Oktoberfest bc

6..................... Rotary Club Duck Race cc

11................... East West Hoedown eF

11-13 ............. Vail Oktoberfest LH

13................... Vail Mountain School Home Tour

18-20 ............. Vail Oktoberfest vv

Ongoing Events

tuesdays, June 16-august 18

Bud Light Hot Summer Nights Free Concerts Fa

Wednesdays, June 24-July 15

Family Film Series vc

thursdays, July 2-30

American National Bank ShowDown Town Free

Summer Concerts eP

thursdays, June 18-august 20

Beaver Creek Rodeo Series av

thursdays, august 13-september 3

Jazz at Vail Square LH

Fridays, July 3-august 14

LionsHead Family Afternoon Club LH

Fridays & saturdays, June 26-september 5

Beaver Creek Culinary Demonstrations bc

saturdays, starting June 27

Minturn Market mt

saturdays, June 13-september 19

Edwards Farmers Market eD

sundays, June 21-september 20

Vail Farmers’ Market and Art Show vv

Legendvv ................. Vail VillagegP ................. Golden PeakFa .................. Ford Ampitheatrecc ................. Checkpoint CharlieLH .................. LionsHeadva ................. Vail Athletic Clubbc ................. Beaver Creekvc ................. Vilar Centerav ................. Avon nP ................. Nottingham Parkmt ................. Minturn eD ................. EdwardseP .................. Eagle Town ParkeF .................. Eagle County Fairgrounds