Waterville Valley Real Estate

[stomachdoc]

We owned real estate in Waterville Valley for about 10 years, and sold in 2013. We initially owned a condo and then bought a single family home. As our children grew older and they wanted to be at home (outside of Boston) we decided to sell.

While I don't agree with the poster who thinks that real estate values would be immune to the closure of the ski area, there are lots of other things to like about WV besides the skiing; summers there are fantastic, and the tennis facilities are great, the golf course is fun and the hiking and mountain biking are the best this side of the NEK/Burke.

We chose WV over Lincoln because it's quiet; that's a personal decision. WV is a wonderful community, and it's inclusive of both weekend property owners and year-round residents. Yeah, it would be nice to have a couple of more restaurants....

I don't think that anyone should look at real estate as an investement that will necessarily appreciate, particularly in the second home market. We lost a bit of money when we sold our condo in the recession, but were able to buy our single family home at a very attractive price, and made money when we sold it.

I was/am concerned with the viability of the ski area but it is a major area 2 hours from Boston and I doubt that it would ever close. That being said, the capital needs there are significant and the existing lift infrastructure is getting very old. The owners need to put capital into the existing plant in addition to getting the Green Peak expansion done. Without a land swap, there is no way to build real estate on the mountain itself which, as you know, is how most significant expansion projects get done (South Peak at Loon is a prime example).

There is plenty of inventory there, and you should be able to get a GREAT deal still on a condo.

 

[machski]

Forget marketing, we have friends that own at Attitash. All I have heard lately is complaints and owners at the mountain are quite disgruntled with the management of the place.

Maybe it's a misconception due to marketing, but my impression was that Attitash has been trending up, especially since Wildcat got bought out.

College teams training there is a good start, but I'm talking about getting world class athletes there, and marketing the hell out of it. Even if it's a low level or junior circuit race, then see if you can get someone like Hannah Kearney or Mikeala Schiffron to make an appearance and wave to the crowd. Yes it's a lofty goal, but that's what they should be working towards. Again, in my opinion.

 

[medfordmike]

second home

I don't think that anyone should look at real estate as an investement that will necessarily appreciate, particularly in the second home market.

We recently purchased a house in NH but in the Sunapee region. I agree that second homes are more prepaid vacation than an investment. The previous owner of our place owned the house for ten years and made some nice improvements but in the end he didn't see a significant return.

I don't see WV going anywhere. It may change or stay stuck in time. But if you like the area and are buying to be near aging parents then ask yourself "if I sold it for what I paid for it 10 years from now would I be happy". If the answer is yes then your good to go.

 

[Vortex]

Stomachdoc,

You were always a great resource. I hope you still frequent the hill. We too sold our condo and went to a house when our kids hit college age. Being on the Hill was not as big of a deal without kids.

 

[stomachdoc]

Bob:

We still get up there a few times a year; great to catch up with old friends! Maybe we will own again up there someday, although I would love to get something on a lake..... Our kids are just starting college, so I wouldn't say we have a lot of disposeable income that we can put toward a second home right now. ;-)