Although Waterville Valley isn't the most challenging mountain to ski, the area is convenient for us and we're considering purchasing a condo in the Valley. We have some history there and coupled with aging parents in the area we plan on spending more time up there in the coming years.
This will be a long-term investment for us so on the one hand I'm not too worried about losing money in the short term because we'll hold on to the property for at least 5-10 years, but I am concerned about what's happening at the mountain and I'm wondering if anyone has information on the new ownership and plans for the future. Have they been successful so far and will they stick around?
I was very happy when Sununu's group bought WV from Booth Creek. I worked for WV in the late 80's when Tom Corcoran owned the mountain and I think that local ownership there is important. I was also really happy to see that Tom Gross and Bob Fries were involved as they brought experience and consistency to the company and I also believe that both of them really care about Waterville Valley. Sununu talks about sustained growth and if they continue with the Green Peak expansion I think that's a good thing for the company and for the valley.
But there are a number of red flags, too. There's no crystal ball but what happens if Sununu runs for governor? Why did Bob Fries leave the company? Is it a sign of trouble?
More importantly, what's going on with the various condo associations after the Stone property management folks stole all that money? Are some associations struggling to maintain the properties and deferring maintenance? Are the owners being charged additional fees? I would hate to buy a condo and then see a steady decline in the value of the property because of this. There seem to be a lot of condos for sale now. Is this normal or are people jumping ship?
Like I said, this is more of a lifestyle decision than a straight investment but then again we don't want to make a bad decision. It seems that if the new ownership follow through with the development that has been proposed that there could be a long-overdue renaissance in the valley and buying now could be a good financial decision. On the other hand, if they don't improve the facilities and reputation of the mountain in the next couple of years an investment there could be a big mistake. Coupled with whatever risk we're taking with the property associations, well, I'm a little gun-shy.
I haven't posted here in years but I do lurk often and I'd really appreciate opinions from anyone (especially home owners) who has information on the company and the valley.
Thanks,
Claire
This will be a long-term investment for us so on the one hand I'm not too worried about losing money in the short term because we'll hold on to the property for at least 5-10 years, but I am concerned about what's happening at the mountain and I'm wondering if anyone has information on the new ownership and plans for the future. Have they been successful so far and will they stick around?
I was very happy when Sununu's group bought WV from Booth Creek. I worked for WV in the late 80's when Tom Corcoran owned the mountain and I think that local ownership there is important. I was also really happy to see that Tom Gross and Bob Fries were involved as they brought experience and consistency to the company and I also believe that both of them really care about Waterville Valley. Sununu talks about sustained growth and if they continue with the Green Peak expansion I think that's a good thing for the company and for the valley.
But there are a number of red flags, too. There's no crystal ball but what happens if Sununu runs for governor? Why did Bob Fries leave the company? Is it a sign of trouble?
More importantly, what's going on with the various condo associations after the Stone property management folks stole all that money? Are some associations struggling to maintain the properties and deferring maintenance? Are the owners being charged additional fees? I would hate to buy a condo and then see a steady decline in the value of the property because of this. There seem to be a lot of condos for sale now. Is this normal or are people jumping ship?
Like I said, this is more of a lifestyle decision than a straight investment but then again we don't want to make a bad decision. It seems that if the new ownership follow through with the development that has been proposed that there could be a long-overdue renaissance in the valley and buying now could be a good financial decision. On the other hand, if they don't improve the facilities and reputation of the mountain in the next couple of years an investment there could be a big mistake. Coupled with whatever risk we're taking with the property associations, well, I'm a little gun-shy.
I haven't posted here in years but I do lurk often and I'd really appreciate opinions from anyone (especially home owners) who has information on the company and the valley.
Thanks,
Claire