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Luxury Ski Homes Market Report

Luxury Ski Real EstateIf you are interested in acquiring a GREAT value in a luxury ski home at one of the major resorts, the time is definitely now. That’s the good news. One thing to keep in mind, though is that the luxury ski homes market has some significant differences from the homes market in general.

Ski homes are less affected by foreclosures. Many of the Sellers do not need to sell. Often, they can wait out these tough economic times, until the market once again shifts into a seller’s market and they are in the driver’s seat. Sometimes, though there are NEED to sell opportunities that can lead to GREAT deals for those who are prepared.

What does it take to be prepared?

STEP 1: Determine what resort you are interested in, specifically determine the location, amenities, type and size ski condo you want.

STEP 2: Connect with a REALTOR who specializes in luxury ski homes in the area you are interested in. Have them familiarize you with the value of given homes.

STEP 3: Scout for the REAL values. Beleive it or not, there are some exceptional deals out there where people DO need to sell right now. Patience and persistance in today’s market can actually lead to large savings and 7 figure savings are not unheard of.

Another way to capitalize: In this market, homes that otherwise would not be on the market now are, providing the savvy buyer with opportunities to acquire homes that were simply not available before.

THE KEY: The best deals will go to the buyer who is prepared to take action guickly, who has a SOLID understanding of what is a market value and who is connected with a REALTOR who can scout for great values for them.

 
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Ski Condos and Chalets: Finding the perfect ski home

Ski Chalets for SaleFinding the perfect ski home really comes down to identifying the basic elements that are most important to you.  First question right out of the starting gate should be: where?  I think this should relate back to your ski ability level as you don’t want to purchase a home right on the double black diamond trail, if you’ve only been snow skiing 2 times in your life.  It would be far better to be a little less ambitious, and select properties that are more in keeping with your current ability level (or a little higher).  If you enjoy skiing the mountain now, its likely you’ll keep on enjoying even though your ability will probably improve.

Next up: Lifestyle.  Do you want to be where all the action is?  Or do you want a more solitary retreat?  Do you want a ski chalet with 10 bedrooms and 5 baths?  Or do you want a more modest dwelling like a ski condo?  Do you want to be part of the international jetset crowd?  Or do you want to hang out with the locals in a more informal setting?  That’s just a few examples of the questions that should be going through your mind when trying to identify your next ski property purchase.

After narrowing down the above of where (Aspen, Whistler Blackcomb, Vail, etc), and what (chalet, home, condo, cabin, etc) – the next question that should probably pop in most persons heads is: price.  You need to identify what you can afford.  In general, most properties that are more expensive, look nicer and have more features than cheaper properties (yea, I know.  who would have thought it?).  So, you don’t want to go looking at $2 million ski chalets, when your budget only affords you to be able to swing a $1 million property.

After this, you need to think ahead in regard to what your goal is for the property.  [I'm sure some of you are asking now: "Goal?  What goal?!?!  I just want a place to sleep, eat, and ski."] Its important to recognize your exit strategy for the property for when you intend to sell.  It doesn’t matter if you are planning on selling it in 6 months, or 60 years, you should at least have a game plan as to how you intend to deal with the property.  You don’t want to place a sign in the yard saying “ski home for sale”,  to have it sit on the market for months/years and then take a big loss on it.  So you need to take this into consideration when considering make your ski home purchase.  Do you intend to generate profit at mitigate the cost by renting the property to others when you aren’t there?  Do you intend to sell the property in the short term (under a few years)?  Do you intend to hold the property for the long term?  etc.  All of this can make an impact on appropriate ski property selection.

And lastly, you need good representation: a Realtor.  Real estate laws and customs vary tremendously from place to place and you will want to ensure that you have good & competent representation when making your ski home purchase.  Determining if there are any valid leases on the property (i.e. did the current owner rent out his property for the 2 weeks during the Olympics thats taking place 3 years from now) is just one example.  A competent real estate agent can help provide guidance to avoid these types of pitfalls so that you have a full understanding of what you are purchasing, and helping to ensure that your best interests are being addressed.

 
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Aspen Colorado Homes and Chalets

Luxury Aspen Homes for SaleAspen Colorado is one of my favorite ski resorts.  It has what I like to call (ironically enough) a “real European feel” to it.  And while some may try to attribute that to the international visitors that frequently come to Aspen, it goes beyond that.  The town itself is pedestrian friendly, has a European decorum and offers public transportation to help keep down traffic by providing a free shuttle service anywhere in the immediate area.  Because of this, you rarely would have need for a car to get nearly anywhere in town.

Moving on to the Aspen real estate side of things, ski chalets are where its at in Aspen.  Some of the best ski properties anywhere in the world can be found here.  Aspen Colorado ski homes and chalets are truly something to behold.  The most desirable luxury ski properties can fetch in excess of $50 million.   Luxury Aspen ski homes are relatively “common” and dot the various ski runs and trails around the 4 mountains in the area (Aspen Mountain, Buttermilk, Snowmass, and Aspen Highlands).  And even though some homes may appear relatively modest from the outside, prices are likely to be more than you’d expect.  Aspen’s desirable community has driven up land prices significantly [a few million dollars for a lot in a decent location is not unusual].  And if you want a prime location near a ski trail so you can enjoy the amenity of having a ski in / ski out Aspen home, then prices can go up quite quickly as there is simply far more demand than there is availability in the area.  However, its not entirely millionaires and the jetset here.  There are options for those persons that are more budget conscious, but you can expect that it will be further out, and it certainly won’t be in very close proximity to a ski in / ski out home.   In lieu of a home, Aspen condos are a great option that can provide good locations within less than stratospheric prices.   If you can afford it, and want the best ski homes in the world, in our opinion, Aspen CO is #1 on our list.  It simply offers the best of all worlds.

 
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Top 5 Best Ski Resorts in North America

Best Ski ResortsThe following is a list of the Top 5 Best Ski Resorts in North America:

1.  Aspen CO – with 4 mountains all with their own unique personalities, Aspen offers diversity to appease beginners and experts alike.  Buttermilk Mountain caters to beginners and also plays host to the X Games each year where some of the best snowboarders in the world come to compete each winter.  Snowmass offers large terrain along with wide variety that is ideal for families.  Highlands has traditionally been the locals hidden gem.  And Aspen Mountain is the crown jewel for those liking glitz and glamor.  The town of Aspen feels almost European with its quaint and luxurious shops.  Gourmets find the restaurant scene a pure delight.  Fine dining is available at a vast array of selections that have everything from local game to fresh seafood flown in from the coast.  It does come with a price though.  Some of the most exclusive luxury real estate anywhere in the world is to be had here.  Even modest homes start at several hundred thousand and go up to the tens of millions for a well appointed and desirable ski in / ski out home.  (If you can afford, it is however worth it probably in our opinion!  Aspen Colorado has it all!)

2.  Deer Valley Utah – takes service and customer satisfaction to a level unlike any other.  You’d swear that if you asked someone to paint your nails as you skied down the mountain, that they’d ask what color you wanted.  Snowboarders aren’t allowed here at the resort (sorry!).  But if you enjoy skiing on perfectly groomed slopes with the pinnacle in service, you simply can’t go wrong with Deer Valley.  And if you are skiing on a budget, it is located in Park City which features some homes and real estate that fall in line for more normal persons (that aren’t jet setting across the globe).

3.  Vail CO – if you like BIG terrain, lots of action and have the money to back it up, Vail is a tough act to follow.  It offers some of the best powder skiing anywhere in the United States.  But it does have 2 costs to go with it:  crowds, and price.  The big skiing draws a large number of persons to the resort.  And prices make all but the most wealthy go “Ouch” at least a little when they are there.  But if you are one of the first to make it up to the back bowls, you will definitely say its worth it.  Real estate prices here can make you say more than “ouch” as well.

4.  Killington VT – has stood the test of time and is the big ski destination for much of the northeast.  Has a charming old school feel to it from the days of yesteryear.  Expect it to be more crowded than what you’d expect from some of the bigger places out west, but it is definitely one of the tops in the eastern USA.  Real estate and home prices are typically what you’d expect for a place in the northeast, but the properties generally aren’t in the same price stratosphere as some of its cousins out west.

5.  Whistler-Blackcomb Canada – features 2 of the largest amounts of snow covered terrain in North America.  If you enjoy B-I-G skiing, skiing here is a must.  These mountains have trails that last for miles, as well as a recently opened mountain to mountain gondola that makes getting from one to the other a breeze (and provides some spectacular views as well!).  The skiing here can be more challenging than in other venues, and probably caters to those that are in the intermediate or expert category than those beginners first starting out.   There is some groomed terrain, but it snows VERY frequently here – so even if a run was groomed, its likely you’ll be skiing on powder of some sort anyway.  But once the weather clears and you are swooshing down the mountain, you will definitely feel you are on top of the world.  If you are diligent, there are opportunities to ski here on a budget, but as with many ski resorts, things can get pricey if you aren’t careful.  Ski homes and real estate generally fall into the middle ground as well relative to other comparable top tier resorts.