Real estate, skiing and courage.

[fliper24]

I suspect Stowe is pretty close to bomb-proof given their market. There will always be some number of very affluent people who will buy in any market condition. I think the mass-market projects are going to mostly stall for several years. The resale market everywhere is in the dumpster. Any developer is bound to be pretty conservative at the moment. If I were a banker, I'm not sure I'd be feeding money to a place like Burke this year.

The Killington village project is DOA at the moment. They don't even have a PUD. The permitting has to be done completely from scratch and the town is now very hostile towards the ski resort given the dramatic drop in skier visits and shorteneing of the season. My opinion is the village won't get built. Instead, the Texas money boys (H.L. Hunt family money) behind SP Land will opt to sell house lots for trophy homes; or perhaps engage a developer partner to build spec homes. The town can't stop that and the Act 250 environmental permitting is much easier for single family homes. I think the Texas boys will find a few hundred rich people, dump house lots on them, and bail out of Vermont. Of course, that's just my opinion. I'd be really surprised if anything was built in the Snowshed or Rams Head parking lots in the next 5 years.

Right

 

[Hawk]

he's referring to houses..up in Vermont real estate prices are dropping. Prices started dropping in most location 1.5 years ago but were holding steady in VT until a few months ago..

That is not what is happening at Sugarbush. I have several friends looking to buy. The inventory is low and every property is a bidding war. I would say the market is at least a year or two out on dropping up here.

 

[skiur]

Right

Nice, 17 year old bump with 1 word!

 

[Hawk]

Holy cow! I didn't even look at the dates. LOL

 

[Edd]

Somehow I thought we didn’t even save threads this old. Wasn’t there a purge of old data at some point? Funny to revive a real estate thread from the housing crisis time period. Oh, how things have changed.

 

[thetrailboss]

"Celebration is one of a number of property developers who have bought smaller ski resorts in New England, such as Burke Mountain in Vermont and Ragged Mountain in New Hampshire, with the goal of creating upscale residential communities around them."

Yeah, that did not age too well now did it?

 

[SkiingInABlueDream]

Whenever I open a new post, tap "jump to new" and see the combination of very old thread, New Member, and very short post it immediately trips my spambot radar

 

[deadheadskier]

Whenever I open a new post, tap "jump to new" and see the combination of very old thread, New Member, and very short post it immediately trips my spambot radar

Nah

Fliper24 is clearly a new member eager to converse about skiing!

 

[BenedictGomez]

Nice, 17 year old bump with 1 word!

From a new poster with 1 post history.

AI is weird.