Tuesday, December 6, 2011

Northstar's "Don't Miss" Properties

To me, there are some really specific properties that are absolutely going to sell this winter because they are unique and scarce. Or, they are a completely new and well-thought out product in the market that will draw a lot of attention.

I have compiled a short list of my Northstar "Top Picks" for this winter, and I will explain why I chose each one. They may not necessarily be the "distressed" properties or desperate sellers, but properties that are special and should remain desirable for future resale due to certain characteristics that will appeal to the right buyers. Maybe I should call them the "Don't Miss" properties if you are looking for real estate at Northstar.

1. 4201 Great Bear: The only 4 BR on the market in the highly sought-after Great Bear building. Great Bear has continued to be a premier address in the Village at Northstar over the years due to its prime location, large residences with direct elevator access and limited inventory. This residence is located at the end of the building which means there are no neighbors on one side and there are extra windows and an extra balcony. The current owners have never rented this residence, it is in immaculate condition. While is is priced higher than some of the more recent comps in Great Bear (most of which classify as "distressed"), the sellers are taking a loss at list price. Move in ready for the ski season, I think it will certainly be an attractive option to a family that sees the long term value of owning at Great Bear. And, there are only two 4 BR options in the Village right now, this being one, and Pick #2 being the other.


2. Village Walk #6: Village Walk is the only newer-construction option where owners can benefit from hassle free ownership in a property that lives and feels like a single family home. This 4 BR/4.5 BA townhome is very spacious at 2766 sq ft and enjoys the unique benefit (vs a condo) of having a 2 car garage, driveway parking, several decks-one with a BBQ, a private hot tub, and gated access to the community. Village Walk owners store their skis in the Hyatt ski valet, so there is no "schlepping" of equipment. The interior finishes of Village Walk exude thoughtful design with rich wood finishes, built in shelving, Viking appliances, large closet spaces, and a furnishing package that was created specifically for the home. The HOA maintains the exterior and roadways of the home so there is no need to worry about ongoing maintenance. With the scarcity of available 4 BR properties at Northstar, I am sure that this property will sell this winter.


3. Home Run Townhomes: These on-mountain slopeside residences at Northstar are true ski in/ski out properties. There has never been an offering like this at Northstar, or in the area for that matter. Home Run is a snow rider's delight, a 16 home community nestled above the Northstar Village and directly below The Ritz-Carlton. It really doesn't get more convenient than this! The construction activity at Home Run has been steady and we expect to have a model in January to show. I think that this offering will be a "no-brainer" for the buyer who understands the value of this location. True to the "Vail/Beaver Creek" model (if you are familiar with those areas), these homes should always be in high demand. Homes like this in the Beaver Creek area are selling for about $1800/sq foot and the inventory is scarce. Prices start around $1.6M and once you see the site (ski access, location, views) you will understand what a great buy this is. There is good selection of available residences now but that will not be the case once we are in the heart of the ski season.


4. "The Glades": Speaking of the "Vail/Beaver Creek" model the release of the 25 on-mountain ski home sites at Northstar called The Glades will be upon us in the next 30-60 days. Tucked in the forest in an exclusive gated community, these spacious ski lots will appeal to the discriminating buyer who values convenience, privacy and true on-mountain living. Some of the homesites are literally surrounded by ski ways on all sides. The views are phenomenal and you can only imagine how amazing the homes will be that are built in this ski enclave. We have had several architects come in and design "mock" plans for homes that really fit in this pristine landscape. We can drive up to the site to see these distinctive sites next time you are in the area. You will see how impressive and well thought-out this community is.

5. 1926 Gray Wolf - Big Springs at Northstar: Immaculate 4 BR/4.5 ba home is located in the heart of the Big Springs community adjacent to the Northstar Village area. This elegant mountain retreat has an enticingly cozy feel with many special nooks and enclaves in every room of the house. Each room has its own character and is a perfect blend of functional architecture and thoughtful design. There are a couple different living areas that are perfect for multi-generational gatherings. You can easily imagine yourself curled up by one of the fireplaces reading a book or inventing a perfect winter soup in the chef's kitchen. The varied use of fine materials throughout the home is noticeable and makes the character of the home unique to any other home in the Big Springs neighborhood. The outdoor living area is highlighted by an enclave with fire pit (marshmallow ready), hot tub (watch the snow fall or count shooting stars) and spacious seating areas. All furnishings and décor were specifically intended for this home. A turn-key home that will feel like you had it custom designed especially for your family awaits! You will appreciate being able to effortlessly ease into this home.


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