Napa Valley Business Today
Today, Napa Valley is home to over 325 wineries and brands. While there are some major industry players, there are also some small family vineyards such as Valley View Vineyards owned by Kirk Sanford and family.
As early as 1836, the first pioneers were planting grapes and harvesting for winemaking. After prohibition, around 1944, the Napa Valley Vintners formed to share trade ideas and to advance Napa Valley’s wines domestically and internationally. In 1975, the Napa Valley Grape Growers Association organized, and are still active in marketing Napa Valley wines to this day.
One unique aspect of the Napa Valley winemaking history is their charitable work. In 1981, the Napa Valley Wine Auction event occurred for the first time. Since then, this yearly event has become the world’s most popular and successful charity wine event. It brings in visitors from around the world, and has given $85 million to local youth programs, affordable housing programs and more.
Valley View Vineyards
One unique and interesting side interest for Kirk Sanford is his wine vineyard. When not working with his company, Sightline Acquisition, to bolster the real estate market in Las Vegas, Kirk Sanford is enjoying his family vineyard in Napa Valley, California. Situated on eight acres of wine-growing land, Valley View Vineyards produces delicious wines for the family’s consumption.
In addition, they give their creations to family and friends, and gift them for charitable causes and events in the surrounding area. Grapes that they don’t use for their own production purposes are sold to other boutique winemakers.
In 2004, the Sanford family introduced their second release, the 2004 Vintage Estate. This release included a blend of 71% Cabernet Sauvignon, 19% Cabernet Franc, and 10% Petit Verdot. The grapes for this creation were handpicked after growing in volcanic soil and helped to create the rich, textured blend that embodied this Sanford limited edition.
Las Vegas Demographics Remain Strong
While Las Vegas real estate is still experiencing a slump, the long-term demographics are fundamentally strong, as Marta Borsanyi from the Concord Group reports. Statistics show that the base of 70,000 households in the Las Vegas area should grow by approximately 18,000 over the next five years.
However, while the long-term forecast is promising, the short term one is discouraging. The high foreclosure rates and economic issues in the Vegas area have made companies such as The Concord Group predict that positive real estate growth won’t occur in 2010 – but will have to wait until 2011.
As Borsanyi said, “We are bottoming out, probably in October. After that, things will go up, and I think it will be a healthy clip if there will be employment growth. That is the key.” Companies such as Sightline Acquisition, with Kirk Sanford, are helping with the recovery effort by investing in Las Vegas properties of all sorts.
