The property lists at $19.5 million. Visit Battle Mountain Ranch for details.
1111 Sorrell Hills Drive, Eagle, Colorado
$2,179,000 | 4 Bedrooms | 6 Bathrooms | 6,582 Square Feet | Highland Meadow Estates
Behind a private security gate you will find over 6,000 square feet of leisure and elegance sitting on top 35 acres. When it’s time to head inside, you might have difficulty deciding how to relax. Your options include a theater room, pool table, wine cellar, fitness room, a large soaking tub in the master suite or back outside to the hot tub. You might even decide to climb up on a horse and stroll around your horse pastures. This practical but private location has the perfect mix of refinement with the cozy feeling of home.
With the enjoyable rustic scenery you might forget that you are only minutes from dining, skiing, shopping, and the Eagle County Airport. If you can be torn away from this gorgeous dream, the charming town of Eagle hosts multiple fun events throughout the year. You also have the option for a quick drive to the heart Vail, where your choices for fun only multiply! You’ll have a hard time finding a home like this anywhere in the Vail Valley, it truly does have it all!
To view all Eagle properties for sale and current Eagle real estate market trends, click here.
1111 Sorrell Hills Dr. Virtual Reality 3D Home Tour:
This Eagle, Colorado home information was published on 06/21/2017. The price and information on this property is subject to change. For the most current information regarding this listing, please go to our web site at: 1111 Sorrell Hills Dr.
View this Eagle Colorado real estate tour on YouTube: 1111 Sorrell Hills Dr.
Confidence in Real Estate Market Rises; Interest Rate Concerns Remain in Berkshire Hathaway HomeServices’ Latest Homeowner Sentiment Survey
This report was recently released by Berkshire Hathaway HomeServices. While the information is focused on National results and not the Vail Valley specifically, it is still important to watch and noteworthy in our lives. We had a strong 1st quarter and are hoping the momentum continues as we move into the summer selling season. Optimism toward the U.S. economy and real estate market rose across all generations of current and prospective homeowners in Berkshire Hathaway HomeServices’ latest Homeowner Sentiment Survey released today by Berkshire Hathaway HomeServices Colorado Properties. However, rising interest rates continue to be a concern among prospective homeowners – Millennials in particular – who reported a sense of urgency to buy before mortgage rates rise further.
Overall, 62% of prospective homeowners and 61% of current homeowners said they are satisfied with the U.S. economy, with respondents from both groups overwhelmingly reporting that the general economic outlook is a critical factor impacting their real estate decisions. When looking at views toward the real estate market, 68% of prospective homeowners and 70% of current homeowners hold a favorable view, an increase of 5 percentage points and 4 points, respectively, from the last wave of the survey. Nearly half of current homeowners cited lower interest rates as the top reason for their favorability toward the market; 43% of this group also pointed to the increased value of real estate as a factor driving favorability.
Respondents are also encouraged by accelerating home construction, with three out of four citing a rise in available homes created by new construction as a factor contributing to market momentum. Additionally, 75% of current and 83% prospective homeowners cited increased construction in urban centers, offering homeownership options close to places of employment, as a top factor.
“Optimism in the real estate market and economy are at levels we have not seen since we first began fielding this survey in 2015,” said Gino Blefari, president and CEO of Berkshire Hathaway HomeServices. “Mortgage rates remain near historic lows even with recent upticks, and we’re seeing rising wages, job growth and construction rates, which continue to make homeownership a compelling and realistic investment for many Americans.”
Strong Q1 Real Estate Sales Activity Valley Wide
The first quarter of 2017 was the strongest for Vail real estate unit sales and dollar volume since 2008. In all price-points above $300,000 there were gains, most notably in the mid and down valley markets and also the luxury market ($5m and up, highlighted by the January sale of 107 Rockledge Road for $23m). You can click here for a full Market Trend Report. Compared to a year ago at this time, inventory is down approximately 10% throughout the valley, while contracts are up 6.5%. In many price ranges and areas, buyers are active and if properties are priced to the market they are sold quickly and for close-to or even above asking prices. The speed of the market is due to pricing properties correctly. Although the Vail real estate market is healthy, buyers remain focused on market value – meaning sellers who test the market and price above it may lose qualified buyers and spend unnecessary time on the market. For more information about the first quarter numbers or your specific property, please contact me.
Ski Season Ends Strong – Vail Real Estate Inventory Levels Likely at Their Low
Vail Valley residential sales this year outpaced 2016 in both units and dollar volume. Through May 1, unit sales have increased 11% from a year ago and dollar volume surged more than 40%! The dollar volume increase was primarily due to a rebound in the luxury resort markets while unit sale volume was buoyed by strong sales in both Eagle and Gypsum.
Vail Real Estate for Sale: Inventory levels remain low, though we have likely seen the bottom of inventory and more properties should come to market over the next several months, generally peaking in late August. Factors that slowed our market last year (the presidential election, oil price instability to name a few) have generally subsided and with interest rates still low and a well-performing stock market, strong demand in many of our communities and price-points should yield another active summer.
As we take a look at the first few months of the year, we can see the market is moving at a brisk pace in a number of price-points and areas.
Overall, listings are down 13.89% compared to this time in 2016. The number is a bit lower because of the release of all the Lion inventory in Lionshead and the project at Sylvan Circle in Eagle. Take those out of the equation and we are down closer to 15-16% in inventory.
Contracts are up just over 4% and sold units are up just over 11%. Sold dollar volume is up 62% and even when you take out the $23m sale in January, the sold dollar volume is still up almost 50%.
The graph below represents Residential Active Listings vs. Under Contracts and with some added black dots to the Under Contract line. These dots represent approximately where we were (on March 20th) in each of the last 5 years relative to contracts. The message? We still have a lot of activity left in the spring season if the market performs as it has over the last several years. Click on the graph to enlarge.
I hope you had a wonderful holiday season and the new year has started on a positive note. In the Vail Valley we are experiencing a great winter with fantastic snow conditions for locals and visitors alike. The overall residential real estate market in 2016 ended on a positive note with an increase of almost 8% in unit sales and a small increase in overall dollar volume compared to 2015. In fact, last year was the best performing residential real estate market since the recession – and with new projects nearing completion and others just getting started, we anticipate another positive year.
The year-end residential statistics you see in this report are derived from the Vail MLS. They represent the vast majority of residential sales, leaving out for sale by owners and other private deals (that account for roughly 1% of the transactions) that are not reflected in our MLS. While we have summarized all of the communities, there are stories behind each sale. Motivations shift prices as do other factors. Use this as your guide and then feel free to allow us to help you complete the picture of any market area you are interested in.
Speaking of numbers, we are proud to say that we participate in the sale of more than 38% of all the residential properties in the Vail Valley, from Vail Village to Lionshead, Beaver Creek Resort, the valley floor and Eagle and Gypsum. Our 8 offices (7 real estate and one property management) are strategically located in all the major communities of the valley. Our vacation rental office is considered to be one of the finest in the area. For 46 years we have been working with loyal buyers and sellers and look forward to sharing our passion, knowledge, expertise and what the value our affiliation with Berkshire Hathaway HomeServices can do to help you achieve your real estate goals.
If you have questions, need more information or would like to visit about the market (or just about living here in the valley), feel free to visit us any time!
2016 Year In Review
Preliminary numbers for 2016 show an overall increase of 7.6% in residential units sales throughout the valley and a slight increase (0.4%) in overall dollar volume. The strength in units sales and dollar volume was realized in the mid and western valley communities while the high-end of the market ($5,000,000+) was down in unit sales and dollar volume. Strong November and December contracts in Vail and Beaver Creek should yield a solid Q1 and positive start to 2017. Our year-end Market Trend Report will come out soon and will take a deep dive into every community in the Vail Valley as well as overall results in various price points and geographic regions. If you have specific questions about your property or area, please contact us any time.
We our proud to announce that through some hard work we are now Actively Green certified in the Vail Valley. Michael Slevin, president of Berkshire Hathaway HomeServices Colorado Properties attended a reception this week hosted by Walking Mountains to receive our award. We learned a great deal about how we can play a stronger part in going green in our office and make sustainability actionable in our daily practices. The program concentrates on the 3 P’s: People, Planet, and Profit, while creating a culture of sustainability. A big thank you to everyone in our Lionshead office who participated in the meetings, collecting data, submitting data, and researching ways to change current business practices to enhance our sustainability practices.
Doing our part to help make our Vail Valley a little better each day.
Basecamp on Beaver Creek, one of the valley’s new residential projects, broke ground recently in Avon. The new 15-residence townhome development being built by Jim and Tommy Gregg of Gregg & Co. Builders, is located at the confluence of Beaver Creek and the Eagle River at the entrance to Beaver Creek Resort.
“It’s a unique and special site that most can’t truly appreciate until they experience how close they are to the Eagle River and Beaver Creek — you are literally perched over the water,” Tommy Gregg said. “There has been a lot of thought and care in this project to ensure each residence takes full advantage of the natural surroundings.”
The residences feature an open floor plan with three bedrooms, mountain-modern finishes and garages. Owners and guests will also enjoy a private shuttle to both Vail and Beaver Creek in the winter. Four of the 15 townhomes are under contract. They are priced between $1 million and $2.2 million. The response from the market and the brokerage community has been very positive, buyers not only cite the location at the base of Beaver Creek, but the impact of the river, the views, floorplans, finishes and walking access to all of Avon’s amenities.
Construction on the first residences is expected to be complete in early 2018, with the other buildings to follow in the spring and summer. “We are excited to create something very special on this spectacular site,” Jim Gregg said. “There are few places in the entire valley that have this type of river setting so close to every imaginable amenity.”
Call me today to learn more about this wonderful opportunity at the base of Beaver Creek.