Having just attended a Who’s Who in Luxury Real Estate conference with a group of preeminent luxury real estate practitioners from all over the world, it seems a good opportunity to give an overview of what’s happening currently in the luxury market and hopeful trends on the horizon.

First of all, it appears sales are definitely increasing. Particularly in coastal markets, price corrections seem to have been achieved and REALTORS® are even seeing multiple offers again in many markets. For those of you watching for the “bottom” of the market, it appears that there are signs in many markets that prices are starting to rise.

Trends have emerged, though. It has never been more important to hire a REALTOR® to assist in analyzing the market. Pricing is sometimes arbitrary and it is important to understand the local market with the professional’s help to ensure that you are truly getting a value opportunity. A REALTOR® is also important to assist in the newly complex world of financing the property. Lenders have new guidelines, some of which can be cumbersome. A well qualified mortgage professional, working with you and your REALTOR®, will streamline the process and make it much easier. Rates are still at historic lows, so often you save additional money over the time value of the note.

In Santa Barbara, for example, the middle market is holding its value, but there are a few opportunities in the high end and lower end of the market. Similarly, other ski resort communities are seeing prices holding steady throughout, clearly because our areas are heavily fueled by past cash transactions and are often held by second homeowners who don’t necessarily feel the pressure to sell. Arizona and southern California are roaring back, with lots of activity. If you want to purchase something, prices are already creeping upward again.

In the Summit County, Colorado and Breckenridge markets, there are actually more sales in the very highest end of the market than at this time last year. There is considerable inventory in the lower end of the luxury price ranges, though, so there are a few strong value opportunities. Summit County is historically a great solid investment area, with local prices and values not experiencing the dramatic swings that other areas such as Florida and California sometimes do.

When considering a second home or investment, however, do not concentrate on the “deal” as much as solid criteria for selecting the property. First of all, the floor plan should be a good one and suit today’s lifestyle and your needs in particular. You can remodel with more recent finishes, but the fundamental “bones” of the home need to work well.

The location is important and your REALTOR® can assist in discussing on-mountain versus town versus remote locations. Your selection will be based on how you will use the property yourself and your lifestyle needs. A view is often a sought-after feature and, thus, is valuable for resale. Remember that to be a solid long term investment, it is important to choose a residence with broad appeal. The same things that attract you to the home will help sell it when the time comes.

When looking for a second home, according to the National Association of REALTORS® surveys, location is number one. Additional features that are important to luxury buyers include well designed kitchens, main floor master suites, bedroom-bath suites for secondary bedrooms, a separate “family” or media room, storage, and updated bathrooms.

As the economy strengthens, it has never been a better time to invest in a solid market like ours. This is the perfect time to consider an investment you can enjoy which fits into your long term investment strategy. If you need a real estate expert anywhere in the world, email me at: bonnie@bonniesmith.com and I will make the introduction for you.

The Home at Two Cabins

Today’s featured residence sits toward the end of a quiet road in the Three Peaks subdivision, just a stone’s throw from the Raven Golf Course in Silverthorne. The home at 275 Two Cabins Road sits up on a sunny ridge looking out majestically to the Keystone Ski Resort and surrounding peaks. Offered at $2,130,000, the four bedroom, four and a half bath home also has a three car and is being sold with its fabulous furnishings.

The exterior of the home sets the stage with a mix of natural rock, chinked barnboard and massive peeled beam construction. Stairs lead up to a covered entry which opens into the foyer with a stone floor. Directly ahead is a library/office, with double doors. To the left, the great room has colorized concrete tile floors and soaring ceilings with massive beam pillars and details. The space is centered by an imposing stone fireplace with a raised hearth and a carved mountain themed mantle. On one side, a window seat adds charm, while on the other, a built in casing houses a pop up 52” flat screen television.

The adjoining dining room is wreathed in windows which look down valley to the golf course and mountains below. Doors lead out to a sunny deck. Doors from the living area lead to a covered patio with an outdoor stone fireplace and built in GE Monogram barbeque. The patio, as well as the walkway to the spa, is heated.

The open kitchen is done in a mix of black and burgundy cabinets with slab granite in burgundy, charcoal and buff. Appliances are GE Monogram and include two dishwashers, refrigerator, microwave, warming oven, and a six burner, two oven range with griddle. A walk in pantry adds a great amenity.

To the right of the entry, the powder room features a green and dark wood Asian antique chest fitted with a granite vessel sink. A rock wall with art niche adds a design element.

The master suite has cathedral ceilings, rock fireplace, and a private deck. The adjoining bath has a copper plunge tub, two sinks, vanilla cabinets and granite counters in black, caramel and vanilla. The shower boasts a rainwater head, as well as a conventional one and tumbled stone trim. A walk in closet with integrated system completes the suite.

Stairs down lead into a fabulous entertainment area, with wet bar, wine cellar, media viewing area with surround sound, and access to the outdoor spa. One wall is a mural with a tribute to the ‘50s.

A nearby laundry adds convenience. Three additional bedrooms are on this level. One shares a Jack and Jill bath with the entertainment area. One is a bunkroom with six bunks and an ensuite bath. The third is a mini master suite.

Throughout the home, the detail and furnishings are amazing with a consistent sense of style and welcoming warmth. With wonderful lighting, oil rubbed bronze faucets, and outstanding doors and trim work, this home is exceptional. Don’t miss the opportunity to make this home a hospitable base for all your mountain adventures.

Bonnie Smith-Allen attends Luxury Real Estate Annual Spring Conference in Florida Joining Leading Luxury Real Estate Brokers from all over the world.

Bonnie Smith-Allen of Exclusive Mountain Retreats attended the 5th Annual Luxury Real Estate Spring conference held April 22-24 in Key Biscayne, Florida. Other leading luxury real estate brokers from all over the world met to discuss referrals, marketing ideas and client service during the three day event. Attendees included brokers from Dubai, Costa Rica, and Germany as well as coast to coast in the United States.

"It’s a valuable resource," said Smith-Allen, "since I can now assist my clients by referring them to a broker virtually anywhere in the world who will have the same standards of excellence and knowledge that they have come to expect from Exclusive Mountain Retreats."

Bonnie has been a member of this elite group for the past seven years and has been a guest speaker for several previous conferences. Bonnie is also a Certified International Property Specialist (CIPS), a designation that demonstrates proven expertise in the business of international real estate.