The Vail Valley is once again lucky enough to host the FIS Alpine Ski World Championships. Over 2 weeks the best skiers in the world will be competing in our backyard with us and 50,000 of our closest friends there to cheer them on. This provides limitless opportunities for business owners in the valley but many challenges as well for them to get ready for the influx of people. There are some big changes coming to both Beaver Creek and Vail mountains and Vail Resorts is leading the charge.

Beaver Creek Changes

While Beaver Creek has hosted the Birds of Prey World Cup Ski Race annually for many years for the 2015 World Championships they are changing the woman's race course. They started cutting a new trail at the beginning of this month that will be skiers right of the usual Birds of Prey course. If you head to Spruce Saddle at the top of Centennial lift you can see them working on the new course that will be ready for racers in 2013 for the Birds of Prey. Along with changing the course itself they are completely re-doing the finish area. They will be constructing new buildings for spectators and permanent structures that will be able to accommodate the growth of Beaver Creek in the future. Watch this video to see the proposed changes.

Vail Changes

Vail will not host any competition races in 2015 but they will be bustling with other activities. Vail will host the opening ceremony, some of the qualifying races, and the medal ceremony; but their daily activities and nightlife is where they will draw the crowds. They will be having many vendors and daily activities for skiers to enjoy as well as free concerts at night.  One of the main changes Vail will be highlighting is their new Epic Discovery that will provide many more summer activities for visitors. By having many of the attractions in place for the huge winter crowd to see, it will get them excited to book their return trip in the summer. Vail Mountain plans on adding a new hiking and mountain biking trails as well as more adventitious activities like zip-lines and an alpine slide that will run on raised rails. For more information click here.

These new changes will provide for the long term success of the world class resorts in our backyard. With Vail Resorts focusing on both winter and summer activities it can ensure that there will be visitors coming to our lovely valley for years to come.  Watch this video for more information on the changes and coming races.

Please contact me for more information on these changes or any questions you may have about the Vail Valley!

A new version of The Tortoise and the Hare

Recently Darren Hardy wrote an article where he takes a different look at the fable we all know from growing up. He reassesses the story of The Tortoise and the Hare to look at with a not so final ending; he looks not at the results of the race but the reaction to the results by it's participants. Read the article below.

Tortoise vs. Hare. Who Wins? Think Again.

If you read The Compound Effect (hope so!) you know I am a fan of the story of the tortoise and the hare and the lesson it teaches about how hardworking, consistent and steady-paced people (or reptiles) will eventually overtake the fast, talented, experienced but complacent people (or mammals).
Someone recently shared with me an adaptation of the story that makes a poignant leadership point.

It goes like this…
After getting his hare butt kicked by the tortoise so many times, the hare finally wised up and realized it was because he was being overconfident, unfocused and inconsistent (maybe he read The Compound Effect; hey it’s possible!).
Newly enlightened he decided to make some changes and challenged the tortoise to a rematch. The tortoise accepted his challenge.
This time, the hare ran with all his might and didn’t stop, relentlessly and persistently until he crossed the finish line. This time the hare won!

The moral of the story?
If you think focus and consistency is amazing when applied to the slow and steady, imagine what’s possible if applied to the fast and talented.

But the story doesn’t end here…
This time, it was the tortoise that did the soul searching and he realized that if the hare didn’t stop, there is no way he could beat him…. unless! He thought.
He decided on a different course and he challenged the hare to another rematch. The newly emboldened hare, of course, agreed.
With the lessons learnt from his previous failure and his new disciplines in mind, the hare kept on running once the race started and didn’t stop until the route led him to the bank of a river. He was taken by surprise and he did not know what to do, since he could not swim. There were no bridges in sight and no one to ask for directions. As he racked his brain, thinking of ways to cross the river, the tortoise strolled slowly along, dived into the river, swam across it and ultimately, finished the race before the hare.
The moral of the story? Know your strengths and take on your competitors in areas of your core competency.

But that’s not the rest of the story…  
With the hare and the tortoise spending so much time together racing, they became rather good friends. They also developed a mutual respect for one another as they realized that they are both different and they have different strengths. They decided to race again, but this time, as a team.
As the race started, the hare carried the tortoise and they sped to the riverbank. There, they switched positions and the tortoise ferried the hare across the river. On the opposite bank, the hare again carried the tortoise and they crossed the finishing line together.
They completed the race in a record time that both of them could never achieve if they were to do it alone. They also felt a greater sense of satisfaction than they’d felt earlier.

The moral of the story?
It’s good to be individually brilliant and to have strong core competencies but unless you’re able to work in a TEAM and harness each other’s core competencies, you’ll always perform below par because there will always be situations at which you’ll do poorly where someone else does well.
Teamwork is mainly about situational leadership, letting the person with the relevant core competency for a situation take leadership. And being supportive team members is necessary for a team to advance.

There are more lessons on teamwork to be learned from this story…
Note that the hare nor the tortoise gave up after failures. The hare decided to work harder and put in more effort after his failure. The tortoise changed his strategy because he was already working as hard as he could, but was not doing as well as he wished.
Imagine how long it will take the hare to learn how to swim! Or for the tortoise to learn to run fast. In this day and age when the environment changes at lightning speed, we have to learn to work with people who have strengths in areas that we do not.
It is the same in business, if we can collaborate with people who are experts in areas that we are not familiar with, we will realize that our market and opportunities suddenly becomes bigger.

Here Comes the Snow

With beautiful Fall colors abound, we were blessed with snow on the top of Vail Mountain as a reminder that winter is just around the corner. Start waxing you skis and stretching the legs for a fantastic year on the mountain! If you have questions about how you can come to Colorado to live this lifestyle, or where you should book your winter stay, please get in touch with me!

Is the 3.8% Tax on All Real Estate Sales Correct?

The short answer is no. While you may have seen the emails or editorial pieces that are floating around the internet which state the contrary, there are some key facts missing. While this tax will apply to some home sales starting January 1, 2013 it is only for a small group of people. Those with an AGI of $200,000 individually or $250,000 if filling jointly qualify for the additional 3.8% tax. The tax will only apply to the amount above the $200,000/$250,000 income limits. And with that, the tax won't apply to the first $250,000 of profits from the sale of a primary residence or $500,000 if a married couple.

With the convoluted nature of tax code it is easy to see how this rumor got started, especially in our market. In the Vail Valley we probably will have a higher rate of people this tax effects because of the higher incomes and non-primary residence homeowners.  Another thing to remember is that this is not a tax solely on real estate transactions, it covers all investment income.

Here is an example...If AGI for an individual is $275,000, the excess over the threshold of $200,000 is $75,000. This person also has a net investment income of $60,000. The new tax only applies to the lesser of the two amounts, so they will pay the 3.8% tax on the $60,000.

You will need to be aware of your personal situation and possibly talk with your accountant about what tax ramifications you may encounter when selling your home if you anticipate a profit. As always, feel free to contact me with any questions you may have or to refer you to a few real estate lawyers or accounts that can help you out.

Colorado Wildfire Help

With the recent fires in our state many people are wondering how they can help the victims. Here is a list of ways you can do your part to help out our Colorado neighbors.

Donate Money

The best way to help out in these situations is to donate money to the correct organizations and let them handle how to use it best. Through the website http://helpcoloradonow.org/ you can make donations to the organization of you choice from the Red Cross to local humane societies.

Donate Things

Another way to help is to donate unused things to a local charity. The victims will need everything from clothes and blankets to cooking supplies and toothpaste. Most of the local charities are working with the organizations helping the fire victims so this is a 

great way to get it to them without having to go there yourself. Also, at http://helpcoloradonow.org/ you can sign up to donate. They have a great system where you let them know what you are willing to donate and when they need those things they contact you. This eliminates the time they would need to take to process donations as well as making sure they're getting what they really need.

Donate Time

Many people out there may not have extra money or clothes to give but can afford to spend a weekend helping out by volunteering their time. While you never want to simply show up to a disaster and ask to help there are some more structured ways to do something like that. Again with the help of the great website http://helpcoloradonow.org/ you can fill out an application to volunteer. By giving your skills and other basic information they will match you up with the groups that need your help.

Other Ways to Help

-By going to http://www.wildfiretees.com/ you can purchase some great looking t-shirts where 100% of the proceeds go to wildfire relief efforts across the state.

-Animal shelters are almost always accepting volunteers. The large animal shelter at Norris-Penrose Equestrian Center in Colorado Springs needs volunteers. Contact them at 719-520-7773.

-Text HIGHPARK to 80108 to donate $10 for fire relief in northern Colorado through The mGive Foundation @ mgivefoundation.org

-Hold a yard sale or put on a fund-raising event and donate money raised to a voluntary organization responding to this disaster.

These are a few simple but very effective ways to help out those in our state that need it. Every little bit will help them adjust and cope with the horrible situation they are fighting. We all need to keep them in our thoughts and help any way we can. If you have any questions about donations or volunteering please feel free to contact me. Pray for rain!

July Fun!!

I can't believe it is already July, what happened to June? Although the summer is flying by, there are still plenty of activities and events that you need to be filling you and your families down time with. July seems to be the month of concerts, with Bravo! coming to town and all the free concerts in Vail and Eagle it is a concert goers dream. 

Bravo! Vail Valley Music Festival

This year is the 25th anniversary for the Bravo Music Festival and they are rolling out all the stops to make this year fantastic. The Vail Valley will be host to the Dallas, Philadelphia, and New York Philharmonic Orchestras, plus world-class chamber musicians, composers,  and the brightest new ensembles . They will be having shows and events almost everyday in July so this is your chance to see some world class musicians right here in your backyard. For more information or to purchase tickets go to their website.

http://vailmusicfestival.org/

Fourth of July

Even though there will be no fireworks here in the Valley there are still plenty of fun things to do for the holiday.  On the 3rd of July, Avon has canceled their famous fireworks display but are still having bands on their main stage and activities for the kids everywhere else. They have a bouncy house, carnival games, face painting and balloon sculptors. Vail is also keeping the festivities going on the fourth with the regions largest Independence Day parade starting at 10AM in Golden Peak. In Lionshead they will have arts and crafts for the kids and music for everyone to enjoy too. For more information visit their town websites.

http://www.avon.org/index.aspx?nid=414

http://www.vail.com/events/event-calendar.aspx

LA Sportiva Hill Climb

For those who are looking for a strenuous activity this month Vail Mountain is having their 7.5 mile hill climb up 2,500 feet on July 7th at 8AM. Voted the best trail race in 2006 and 2011 by Colorado Runner, this will definitely be fun and challenging event for those who enter. The Eagle Bahn Gondola will be running for spectators and family to cheer on their runners.

http://www.vailrec.com/hillclimb.cfm

Triple Bypass Bicycle Tour

This one will be a challenge, but a fun one. On July 14-15 there is a daunting 120 mile ride with over 10,000 feet of elevation change. The ride starts in Evergreen and climbs over Squaw pass to Idaho Springs and on into Georgetown. From there, it climbs over Loveland Pass to Frisco and over Vail Pass to the finish line in Avon. Come to Nottingham Park to cheer on the finishers.  If you are still feeling good after your ride you can do it again the next day to ride back to Evergreen! For more information go to http://www.teamevergreen.org/triple

It appears there is something for everyone this coming month. For the active people out there we have bike and running races; if you want something of a slower pace we have many concerts to attend. On top of the Bravo! series, Vail still has their free concerts every Tuesday and Eagle does a free concert every Thursday. If you have any questions about other things that may be happening in our beautiful valley please give me a call. Enjoy all the fun!

Town of Eagle New Website

To get ready for the summer season, the Town of Eagle has launched a new website to keep you informed about all that is happening! The site, www.EagleOutside.com is a user friendly page that filled with details about hiking and biking trails (including detailed maps), ideas for fishing holes, and places to get food when your done playing.

When on the site, (looking for something to do on my day off), I can find great descriptions of the bike trails I want to tackle. They also give a brief run-down of the ride and difficultly so I know if I'm getting in over my head. They provide parking info, elevation change, and even similar rides if you find you enjoy your time out there. I enjoy having the information before the ride so I know what to prepare for.  

This site is a must if you are planning any weekend activity or just an evening dinner. The one downfall of this site is that it is only covers Eagle activities and not the rest of the Vail Valley. It is set up so well it has to only be a matter of time before this template catches on.  Please contact me with any questions you may have or suggestions for things that are not on this site. 

www.EagleOutside.com