COVID Renewal: A Tale of Two Buyers and Mountain Moves

It’s no secret the mountains have increased their appeal since the impact of COVID took hold. As buyers contemplate their next move and wonder if the time is right, one family and one local resident share their stories about why buying in the Vail Valley and Down Valley was the right move for them.

Second home to primary home

Second home owners at Riverwalk in Edwards, Colo. since 2011, Ted and Katharine Leonard were talking about moving to the Vail Valley full-time once their eldest son entered middle school, a couple years from now. Once COVID kicked in and working remotely became more commonplace for both of them, they started to think about making the shift sooner than later. Looking back over the past year and the impacts of COVID that included fewer reasons to stay in Denver without the cultural and sports activities and growing traffic and congestion along I-70, they said, why not now?

Active outdoor enthusiasts, they found most of their friends and social life centered around being outside and enjoying the mountain lifestyle. They also factored in the extra time they would get without commuting, affording them more time to get out during the week to exercise and enjoy the outdoors. Their two sons, when asked about moving, were enthusiastic since they had formed friendships with other local kids their age through their participation in DEVO and BEVO, Vail Resort’s children’s ski programs.

Their initial plan started with renovating their Riverwalk condo so they could stay close to all the amenities, shops, trails and restaurants in the Riverwalk Village area. They began a renovation in January and then when COVID hit, realized they really wanted and needed more space than their Riverwalk condo would accommodate for friends and family to be able to visit.

Their search started when Katharine contacted a former business school colleague, Sarah Tuft, who she knew was a broker associate with Berkshire Hathaway HomeServices Colorado Properties. Having both a condo to sell and a home to buy, Tuft knew time was of the essence. She immediately presented the Leonard’s Riverwalk condo to the 100+ brokers affiliated with Berkshire Hathaway HomeServices Colorado Properties brokers and listed it in the Vail MLS.

“Sarah was great,” said Leonard. “In addition to the Berkshire Hathaway broker preview, she was keenly aware of all the different markets and areas all around Vail Valley, from East Vail to Wildridge and West Vail, to Arrowhead, Cordillera and Red Sky Ranch. I couldn’t imagine doing this without a realtor,” she added.

Due to initial COVID restrictions that limited open houses and tours, the Leonards did virtual tour previews of the top 20 homes Sarah selected, pairing the list to 12. When restrictions lifted, the Leonards then did on-site tours.

“While the photos and virtual tours were really helpful and ones we went back to time and again, it was the in-home visits that really helped us make our final decision. We knew that being in a seller’s market we would have to come in with a strong offer and be ready to move – literally and figuratively – once it was accepted. Sarah was hugely helpful and supportive throughout the whole process,” said Leonard.

“Understanding the Leonards’ needs and lifestyle interests was really helpful in being able to narrow down the options including their interest to be close to or on golf courses,” said Tuft. It ultimately helped narrow the timeframe to find and have them make a decision and present a strong offer that got them the Cordillera home they wanted,” Tuft added.

Staying Local: Renter to Down Valley Owner

Vail Valley resident Greg Bloom initially started his search to buy a home in the Vail Valley region two years ago. He expressed interest to a friend about finding a realtor to put his feelers out there. His friend said he knew a broker that was from New York, like him, with lots of energy and experience. He was then introduced to local Berkshire Hathaway HomeServices Colorado Properties associate broker Carol Calinoff.

After conducting some research, he discovered she had a lot of experience as a buyer’s and seller’s agent and figured he was in good hands. While he wasn’t ready to commit at the time, through his connections as a sponsorship sales director for the Vail Valley Foundation, he was able to refer several friends and colleagues to her.

As expressed to Calinoff, Bloom’s initial interest was to build his nest egg and get a better understanding of market fluctuations from season to season, including who was buying and who was selling. “The Vail Valley is unique in that there are really four selling and buying seasons and there can be many variances since there are also distinct markets – the resort areas of Vail and Beaver Creek and then mid-valley and down valley. I realized they all presented different opportunities,’ Bloom added.

This year, once COVID hit, Bloom started getting more serious about buying. But first he wanted to find out how secure his position was with the Vail Valley Foundation. Fortunately for him, corporate sponsorships and partnerships are the lifeblood of the organization’s funding and his VP assured him that he was as safe as anyone. It was enough assurance, even amidst uncertainty, to pull the trigger and commit to finding the right home to buy.

Considering his options, he realized he could afford a larger home if there was the option for a lock off apartment he could rent. At Calinoff’s recommendation and given Bloom was given permission to work full-time from home, they focused down valley where there were larger homes in his price point along with more open space and views. It also helped that due to the down valley more temperate climate, residents get an extra month on either side of spring and summer compared to the Vail Valley.

“After looking at virtually every option from Minturn to Gypsum and even considering buying land last year, once I knew what I wanted to do, we agreed to focus on Eagle and Gypsum,” said Bloom. “I figured, why not give myself some real benefit with a view and space? I was less limited by location since I could home office.”

With a definitive focus, the playing field narrowed and Bloom decided on the second home they looked at in Sky Ranch in Gypsum. “The view was the bonus,” said Bloom. “While we looked at four or five other homes once I stepped into what is now my new home, I knew. Carol did too.”

“While Greg and I connected initially a few years ago, he wasn’t ready to buy. We kept in touch and once the pandemic hit, he became serious. This is when we were able to start narrowing the field of opportunities, particularly once he knew he could work remotely full-time,” said Calinoff. “It then became pretty seamless, with a focus on Eagle and Gypsum, which would give him great views at a price he could afford. Greg was just awesome to work with. He had his ducks in a row as we started the process, which ultimately led us to finding the right home for him.”

Leonard’s and Bloom’s words of advice? “Know what you want and then trust your gut. When you walk into a home and it feels right, it probably is.”