Sugarbush Real Estate Ex Rice Brook.

[slaw]

Just wondering how the Condo market feels outside of the Rice Brook development. I am told it has picked up a little bit. Any educated view? Thank you!

[Xskier]

Not sure about the condo market but i can tell you there is zero interest in a well priced large ski home.

[Hawk]

Sorry to hear Xskier. I guess it is just a percetion thing. You say it is well priced but if no one is looking at it then I guess it not that well priced. Right? Nothing's moving in the second home market right now. My freinds over in NH on a lake are having problems also. Just hang in there.

Just wondering what the title of this thread means? What does "ex rice brook" mean is what I am getting at.

[slaw]

Sorry to hear Xskier. I guess it is just a percetion thing. You say it is well priced but if no one is looking at it then I guess it not that well priced. Right? Nothing's moving in the second home market right now. My freinds over in NH on a lake are having problems also. Just hang in there.

Just wondering what the title of this thread means? What does "ex rice brook" mean is what I am getting at.

I just mean "except" Rice Brook. It looks great but is too expensive for me from what I know.

[tomthumb]

There are 7 condos under contract as of today, which may not seem like a lot with 118 units on the market. But considering the time of year, it it a very positive trend, as most ski-condo buyers wait until late Summer/early Fall to purchase. The 2nd home market is still struggling. Xskier's home is well priced, it's a lot of house for the money, but it's in a segment of the market that is seeing very little activity.

[jwt]

Not sure about the condo market but i can tell you there is zero interest in a well priced large ski home.

X,

i'm interested in your experience with the current demand ( or lack of it) in the Valley. Could it be the high RE taxes for non-resident owners that have the effect of lack of interest in your ( and other) property?

Since our purchase in '03 in Fayston, the last assessment went up 33% from purhcase price, and the RE taxes have almost doubled. I am pretty sure we could not sell it for that 33 % premium over purchase.

Considering the lowest interest rates in history - there is 3.5% fixed rate money out there, there should be at least some action.

It is Spring, and we had a pretty sparse season snow-wise, but I wonder how much has to do with over all cost. Fayston is ( or at least was the lowest property tax in the Valley of the three towns we looked at. Not sure if other towns have risen as much as we have. $3800 to $7K+ is pretty steep, but most of us are from even higher taxed states in the lower parts of the northeast. Maybe it is what we are used to?

It does limit the market demand in my view, as is probably the case with the aforementioned NH lake market. I've had clients sell their NH lake property just because they had to rent out the majority of summer to pay the property taxes. Why own it if you can't use it ( or at least have an income stream) from it?

[Xskier]

Sorry to hear Xskier. I guess it is just a percetion thing. You say it is well priced but if no one is looking at it then I guess it not that well priced. Right? Nothing's moving in the second home market right now. My freinds over in NH on a lake are having problems also. Just hang in there.

Just wondering what the title of this thread means? What does "ex rice brook" mean is what I am getting at.

Thanks Hawk. Hopefully I can move it in the next couple years. Its listed at $70k under appraised value (as of last summer). People know in this market they can make an offer and would entertain anything at this point. I can't even get people to look at the house. 3 showings in 8 months with a very reputable realtor. The all said the pricing was great, but the house was too big. There's no market for large affordable houses in the valley anymore. Most the ski house groups are long gone and it is quickly becoming a mountain for the Rich only. I am not sure i can wait long enough for the 20's pass holders to make enough money to buy second homes.

[Xskier]

X,

i'm interested in your experience with the current demand ( or lack of it) in the Valley. Could it be the high RE taxes for non-resident owners that have the effect of lack of interest in your ( and other) property?

Since our purchase in '03 in Fayston, the last assessment went up 33% from purhcase price, and the RE taxes have almost doubled. I am pretty sure we could not sell it for that 33 % premium over purchase.

Considering the lowest interest rates in history - there is 3.5% fixed rate money out there, there should be at least some action.

It is Spring, and we had a pretty sparse season snow-wise, but I wonder how much has to do with over all cost. Fayston is ( or at least was the lowest property tax in the Valley of the three towns we looked at. Not sure if other towns have risen as much as we have. $3800 to $7K+ is pretty steep, but most of us are from even higher taxed states in the lower parts of the northeast. Maybe it is what we are used to?

It does limit the market demand in my view, as is probably the case with the aforementioned NH lake market. I've had clients sell their NH lake property just because they had to rent out the majority of summer to pay the property taxes. Why own it if you can't use it ( or at least have an income stream) from it?

Taxes are definitely driving current 2nd home owners out and prospective buyers away. Its hard to stomach paying such high taxes as an out of stater when we receive nothing except for beautiful scenary. My taxes have gone up 6x since i bought my house in 1997. With what i paid for it and have into the house I will likely lose money unless someone paid close to asking price (not happening). I know for sure i can't sell my house for anywhere near the assessed price. I can't get anyone in my house to buy either because why own when you can do a share for $1100. I also feel that the direction sugarbush has taken will also increase the lack of interest in houses like mine. Oh well, it will be a great house for someone someday.....I hope..

[pcampbell]

Taxes are definitely driving current 2nd home owners out and prospective buyers away. Its hard to stomach paying such high taxes as an out of stater when we receive nothing except for beautiful scenary. My taxes have gone up 6x since i bought my house in 1997. With what i paid for it and have into the house I will likely lose money unless someone paid close to asking price (not happening). I know for sure i can't sell my house for anywhere near the assessed price. I can't get anyone in my house to buy either because why own when you can do a share for $1100. I also feel that the direction sugarbush has taken will also increase the lack of interest in houses like mine. Oh well, it will be a great house for someone someday.....I hope..


got a link to the house?

time share for 1000? where's that? I've seen some timeshares in very average digs for 2-6k plus 1k a year maintenance fees, these are 1 bedrooms so you are really not getting a lot more than a hotel room @ $125/month other than the obligation to take that exact week.

[tomthumb]

got a link to the house?

time share for 1000? where's that? I've seen some timeshares in very average digs for 2-6k plus 1k a year maintenance fees, these are 1 bedrooms so you are really not getting a lot more than a hotel room @ $125/month other than the obligation to take that exact week.

PM sent with info on this ski house!

[Xskier]

got a link to the house?

time share for 1000? where's that? I've seen some timeshares in very average digs for 2-6k plus 1k a year maintenance fees, these are 1 bedrooms so you are really not getting a lot more than a hotel room @ $125/month other than the obligation to take that exact week.

Its not a timeshare i was referring too but doing a share in a ski house. You get a bed for the season and use of the house seasonally and sometimes year round.

[pcampbell]

Its not a timeshare i was referring too but doing a share in a ski house. You get a bed for the season and use of the house seasonally and sometimes year round.

ahhh ok, thanks.