Had a great time last weekend. We hosted reps from the various ski resorts in the Rocky Mountains. We anticipated about 50 attendees and ended up with 115. Nice turnout. I tried to boast of our over 9 feet of snow so far this year, but was easily bested by Park City and Jackson Hole, both of which claimed over 7 feet of snowfall in the past 8 days. It's always illuminating to see how the other resorts compare with Summit County. It turns out that we are just about the lowest priced ski resort. But, what does that mean? Attendees came from Vail, Telluride, Steamboat Springs, Winter Park, Park City (Utah), Jackson Hole (Wyoming), and Whistler (British Columbia). Vail, Telluride and Park City seem to sport the highest prices, boasting home sales as high as $25 million, while the highest priced sale in our Summit County was less than $4 million. Winter Park was a bit lower in average price point, with Steamboat Springs close as well. It truly is amazing. The higher the price, the more likely it is that the buyer will just write a check for the purchase. Bob Berwyn from the Summit Daily News attended and wrote a fairly comprehensive article on the presentation. The gist of the weekend, of course, was that it is a very hot market for resorts. Vail has a dearth of listings to the point that there are often multiple backup offers. Buyers, even in the multi-million-dollar range, will often go under contract only to sell their purchase rights to someone else in line behind them. An easy way to make money, it would seem. But higher prices bring problems, as well, and there was general discussion about how each of the resorts in dealing with affordable housing for their work forces. Each has either regulations or development priorities in place. Most require developers to offer a certain amount of units as dedicated to locals. Usually, proof is required that a buyer is employed locally at least 30 hours a week, and that they meet the (lower than normal) income requirements. It's often difficult to monitor, and abuses are rarely reported. However, the Town of Breckenridge has actually taken a couple to court over the issue. This sets the stage, and may have the effect of putting potential abusers on notice that they could be next. As for SnowHome Properties, we will not aid a second home owner who wants to try to manipulate the system to buy a lower priced home. The reps regaled the attendees with discussions of tax issues, imposed government restrictions and other issues of the day. It proved to be an educational experience for all. Very satisfying. =========================================== Want to buy or sell a SnowHome in Summit County? Please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". | 
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