Mountain Green Sales?

[wannabeskibum]

I'd get out too. Congrats! But in this nutty world - if they ever get it fixed ( IMO they won't because it's a herculean task ) - that's cheap real estate at 600 bucks a foot next to the village ( see Stowe ).

Stowe is over $1,000 a square foot. Aspen is $4,000 a foot off the mountain a half a mile from the lifts.

As Asher said - if you can sit on it for 10 years - rent it out - etc - it may work out.

Big gamble.

Even if it does work out - Vermont is going to take a big chunk when you sell it...........

what do you think pricing in the new village will be? heard similar to Stowe, the sales guy previously worked at Stowe. Says the #s are coming with a big push for pre-construction sales at the World Cup in November

Pre construction pricing will be >$1000/sq.ft. - I met with the guy in March upstairs in K1 lodge.

[rogman]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

[twilkas]

I need this. That barn is beautiful.

Even though we're off the Mountain Green subject: That's a beauty! Nice K4man, very nice.
Good luck Storm Chaser, interesting read.

[KingsFourMan]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

So a 1,500sf unit at $1,000/sf will be $1,500,000. To be in the parking lot of Snowshed and pay between $20-30K a year in taxes and another $6-$12,000 in HOA fees? I just don't get it. Even at Stowe I don't get it but at least Stowe has serious name recognition appeal...which a certain segment of society is willing to pay a lot of money for. Killington does not have that.

And I'm still amazed that there isn't a major capital improvement program coinciding with the village to create a buzz, especially given how lacking Killington's infrastructure is. I totally expected that along with the interconnect announcement. This has to be a serious bone of contention between Great Gulf and Powder. How would you like to pay $1.5M for a condo and then get stuck on the Skyship for an hour or stranded down on Rt 4.

[hillbangin]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

So a 1,500sf unit at $1,000/sf will be $1,500,000. To be in the parking lot of Snowshed and pay between $20-30K a year in taxes and another $6-$12,000 in HOA fees? I just don't get it. Even at Stowe I don't get it but at least Stowe has serious name recognition appeal...which a certain segment of society is willing to pay a lot of money for. Killington does not have that.

And I'm still amazed that there isn't a major capital improvement program coinciding with the village to create a buzz, especially given how lacking Killington's infrastructure is. I totally expected that along with the interconnect announcement. This has to be a serious bone of contention between Great Gulf and Powder. How would you like to pay $1.5M for a condo and then get stuck on the Skyship for an hour or stranded down on Rt 4.

If I owned a 1.5 M house in the village I wouldnt have to go to Rt 4.

I could enjoy the village and go to the new K1 lodge or the new Ramshead Lodge or the mostly new still looks great lodge up top or the new pretty cool eating spot at needles or the yurt.

That's the point....

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[Skivt2]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

So a 1,500sf unit at $1,000/sf will be $1,500,000. To be in the parking lot of Snowshed and pay between $20-30K a year in taxes and another $6-$12,000 in HOA fees? I just don't get it. Even at Stowe I don't get it but at least Stowe has serious name recognition appeal...which a certain segment of society is willing to pay a lot of money for. Killington does not have that.

And I'm still amazed that there isn't a major capital improvement program coinciding with the village to create a buzz, especially given how lacking Killington's infrastructure is. I totally expected that along with the interconnect announcement. This has to be a serious bone of contention between Great Gulf and Powder. How would you like to pay $1.5M for a condo and then get stuck on the Skyship for an hour or stranded down on Rt 4.

That’s the thing. Is there really a market? Looking at Mt. Green it’s not like people are swooping in. People are bailing. I don’t see the Bear places going contingent quickly. Maybe once they are built? I see quite a few multi million dollar places sitting on the market. What if we have hit saturation? What if the market is not there? I’m sure a dozen people will jump on here and tell me that it is but we shall see. What will things look like in the economy, housing market etc in 6 years? Is anything a “sure” thing that far out? It feels like a lot of counting unhatched chickens.

[GMCrra]

Bear units had demand at 1.4 to 2M, for 2.8+ seems a tough sell. You can get in to Spruce Peak at Stowe for near those prices with way more amenities.

They are built to order, not on speculation of sales.

The potential tax bills are enough to cause indigestion. Will the asset bubble burst before village liftoff, maybe. Hopefully it's viable at lower prices if needed to complete at least phase 1.

[Bubba]

Bear units had demand at 1.4 to 2M, for 2.8+ seems a tough sell. You can get in to Spruce Peak at Stowe for near those prices with way more amenities.

They are built to order, not on speculation of sales.

The potential tax bills are enough to cause indigestion. Will the asset bubble burst before village liftoff, maybe. Hopefully it's viable at lower prices if needed to complete at least phase 1.

If you're spending $2 million on a second (or third , etc.) home, you're not that concerned about property taxes.

[GMCrra]

I would disagree. The taxes matter even if you are a 2nd or 3rd homeowner. It may not matter for those well inside the top 1%, but it matters to the top 2% to 10% (of the 1 to 2% of ski families that would buy ski real estate in New England) that need to be killingtons market for that village, whether they own there or stay In short term lodging. The top 1% can find plenty of places to invest in high end real estate, Killington needs that top 2% to 10% within driving distance. And the taxes matter. I can speak as one of them, I'm sure kingsfourman can too.

If taxes didn't matter, Biden wouldn't be fighting for 80k new IRS employees to hunt tax cheats.

[RENO]

Bear units had demand at 1.4 to 2M, for 2.8+ seems a tough sell. You can get in to Spruce Peak at Stowe for near those prices with way more amenities.

They are built to order, not on speculation of sales.

The potential tax bills are enough to cause indigestion. Will the asset bubble burst before village liftoff, maybe. Hopefully it's viable at lower prices if needed to complete at least phase 1.

If you're spending $2 million on a second (or third , etc.) home, you're not that concerned about property taxes.

That's like worrying about the cost of gas when you just bought a $2 million Lamborghini or Ferrari! LOL!

[RENO]

Who voted for these imbeciles that are on the board at MG? I'm on the board at my condo development and the owners would shoot us if we came to them with sh*t like this! It would never fly. Of course, our dev is tiny compared to MG, but still, we would never dream of pushing something like this. Your board members own property also at MG. Are they all wealthy? I saw this in the Mountain Times yesterday and almost fell off my chair when I saw it! Crazy. I heard that there are some MG condos under contract so who is buying them? And as far as costs in the new village, you will never get anything (1, 2 or 3 bed condo, townhouse, etc...) there for less than a million $'s.

[KingsFourMan]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

So a 1,500sf unit at $1,000/sf will be $1,500,000. To be in the parking lot of Snowshed and pay between $20-30K a year in taxes and another $6-$12,000 in HOA fees? I just don't get it. Even at Stowe I don't get it but at least Stowe has serious name recognition appeal...which a certain segment of society is willing to pay a lot of money for. Killington does not have that.

And I'm still amazed that there isn't a major capital improvement program coinciding with the village to create a buzz, especially given how lacking Killington's infrastructure is. I totally expected that along with the interconnect announcement. This has to be a serious bone of contention between Great Gulf and Powder. How would you like to pay $1.5M for a condo and then get stuck on the Skyship for an hour or stranded down on Rt 4.

If I owned a 1.5 M house in the village I wouldnt have to go to Rt 4.

I could enjoy the village and go to the new K1 lodge or the new Ramshead Lodge or the mostly new still looks great lodge up top or the new pretty cool eating spot at needles or the yurt.

That's the point....

Sent from my SM-S906U1 using Tapatalk

I just used the Skyship as one example because it's particularly glaring. There is also the Needles Eye Quad that was down for weeks during peak season this year, the completely overwhelmed Rams Head Quad, the two nearly 40 year old Yan quads, the ancient Snowdon triple, the Bear Lodge that is in need of a major overhaul and the snowmaking system which apparently has a lot of issues although that is a lot less visible. You just don't see that at other major resorts, especially one about to build a new high end village.

[KingsFourMan]

I would disagree. The taxes matter even if you are a 2nd or 3rd homeowner. It may not matter for those well inside the top 1%, but it matters to the top 2% to 10% (of the 1 to 2% of ski families that would buy ski real estate in New England) that need to be killingtons market for that village, whether they own there or stay In short term lodging. The top 1% can find plenty of places to invest in high end real estate, Killington needs that top 2% to 10% within driving distance. And the taxes matter. I can speak as one of them, I'm sure kingsfourman can too.

If taxes didn't matter, Biden wouldn't be fighting for 80k new IRS employees to hunt tax cheats.

I don't necessarily agree either, that applies but I think at a higher price point than $2M. I definitely don't think it applies at $1M or $1.5M. A million dollars isn't what it used to be.

It will be telling to see how many properties in VT hit the market after this new 25-27% tax increase goes through.

[hillbangin]

>1000$ seems likely. It was at >500$ fifteen years ago. That was pre-Act 250.

So a 1,500sf unit at $1,000/sf will be $1,500,000. To be in the parking lot of Snowshed and pay between $20-30K a year in taxes and another $6-$12,000 in HOA fees? I just don't get it. Even at Stowe I don't get it but at least Stowe has serious name recognition appeal...which a certain segment of society is willing to pay a lot of money for. Killington does not have that.

And I'm still amazed that there isn't a major capital improvement program coinciding with the village to create a buzz, especially given how lacking Killington's infrastructure is. I totally expected that along with the interconnect announcement. This has to be a serious bone of contention between Great Gulf and Powder. How would you like to pay $1.5M for a condo and then get stuck on the Skyship for an hour or stranded down on Rt 4.

If I owned a 1.5 M house in the village I wouldnt have to go to Rt 4.

I could enjoy the village and go to the new K1 lodge or the new Ramshead Lodge or the mostly new still looks great lodge up top or the new pretty cool eating spot at needles or the yurt.

That's the point....

Sent from my SM-S906U1 using Tapatalk

I just used the Skyship as one example because it's particularly glaring. There is also the Needles Eye Quad that was down for weeks during peak season this year, the completely overwhelmed Rams Head Quad, the two nearly 40 year old Yan quads, the ancient Snowdon triple, the Bear Lodge that is in need of a major overhaul and the snowmaking system which apparently has a lot of issues although that is a lot less visible. You just don't see that at other major resorts, especially one about to build a new high end village.

You can play this game at every ski resort in North America.

Nobody has a perfect lift system.

I'll take Killington over any place in New England.

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[Stormchaser]

I would disagree. The taxes matter even if you are a 2nd or 3rd homeowner. It may not matter for those well inside the top 1%, but it matters to the top 2% to 10% (of the 1 to 2% of ski families that would buy ski real estate in New England) that need to be killingtons market for that village, whether they own there or stay In short term lodging. The top 1% can find plenty of places to invest in high end real estate, Killington needs that top 2% to 10% within driving distance. And the taxes matter. I can speak as one of them, I'm sure kingsfourman can too.

If taxes didn't matter, Biden wouldn't be fighting for 80k new IRS employees to hunt tax cheats.

I don't necessarily agree either, that applies but I think at a higher price point than $2M. I definitely don't think it applies at $1M or $1.5M. A million dollars isn't what it used to be.

It will be telling to see how many properties in VT hit the market after this new 25-27% tax increase goes through.

New village units will end up at auction just like the Grand. If they all even get built out to capacity.