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For Sale: Mountain Green Resort
Posted: Feb 27th, '24, 11:15
by Stormchaser
I'm putting my condo on the market next week. 1-bedroom, 1-bathroom, 613 sf. The property is undergoing a major renovation project expected to last the next 6 years. I'm not interested in the cost and hassle associated with such a project so it's time for me to sell. Before it hits the market, if any Kzoners are interested, I'm willing to make significant concessions for those interested in getting in on the ground floor before this project really gets moving. They've already replaced the roof on my building and updated the health club. I would offer it to you guys at $140k to avoid the seller/realtor markup and provide benefit to users of this board. Current listings range from $169k to $209k. You won't find a better price for a condo in Killington. Message me for more details.
-Stormy
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Re: For Sale: Mountain Green Resort
Posted: Mar 18th, '24, 08:42
by Stormchaser
SOLD!
Re: For Sale: Mountain Green Resort
Posted: Mar 18th, '24, 10:28
by Bubba
Congrats!
Re: For Sale: Mountain Green Resort
Posted: Mar 18th, '24, 10:45
by Stormchaser
Bubba wrote: ↑Mar 18th, '24, 10:28Congrats!
Thanks! I wasn't sure I'd get this done with 17 other units on the market, but it pays to have a great network of ski friends. Sad times for me, but it's what I needed to do...
Re: For Sale: Mountain Green Resort
Posted: Mar 18th, '24, 10:51
by MrsG
Bittersweet for you Stormy …. happy for you
Re: For Sale: Mountain Green Resort
Posted: Mar 19th, '24, 15:32
by SPORE
Looks like the race to bottom is starting at Mtn Green - 6 units listed in the past 24 hours, 8 in the past week.
Re: For Sale: Mountain Green Resort
Posted: Mar 21st, '24, 08:20
by Nikoli
The HOA fees are crazy. $1,838 monthly on a one bedroom. I am guessing this is why there are so many listed for sale.
Re: For Sale: Mountain Green Resort
Posted: Mar 21st, '24, 08:36
by Stormchaser
Nikoli wrote: ↑Mar 21st, '24, 08:20
The HOA fees are crazy. $1,838 monthly on a one bedroom. I am guessing this is why there are so many listed for sale.
The HOA fees are actually closer to $600/mo for a 1-bedroom and are based on square footage, but they are paid quarterly which is where the $1,800 number likely comes from. The special assessment for the major renovation/capital improvement project is the killer. My special assessment was in the neighborhood of $2,000/mo for the next 6 years. Over $30k/year for the foreseeable future paid to the condo association, plus the costs of owning and using it bumped that number to closer to $38k/year (over $3k/mo to own). For me, that was unsustainable. The folks that own 3-bedroom units got a much bigger ticket as the payments are all based on unit size. Justifying that kind of expense with no interior renovations (units or common areas) is stupefying. The selling war is on...average list price per square foot is dropping like a rock.
Re: For Sale: Mountain Green Resort
Posted: Mar 21st, '24, 08:50
by Nikoli
Stormchaser wrote: ↑Mar 21st, '24, 08:36
Nikoli wrote: ↑Mar 21st, '24, 08:20
The HOA fees are crazy. $1,838 monthly on a one bedroom. I am guessing this is why there are so many listed for sale.
The HOA fees are actually closer to $600/mo for a 1-bedroom and are based on square footage, but they are paid quarterly which is where the $1,800 number likely comes from. The special assessment for the major renovation/capital improvement project is the killer. My special assessment was in the neighborhood of $2,000/mo for the next 6 years. Over $30k/year for the foreseeable future paid to the condo association, plus the costs of owning and using it bumped that number to closer to $38k/year (over $3k/mo to own). For me, that was unsustainable. The folks that own 3-bedroom units got a much bigger ticket as the payments are all based on unit size. Justifying that kind of expense with no interior renovations (units or common areas) is stupefying. The selling war is on...average list price per square foot is dropping like a rock.
Interesting. I pulled that number from a listing on a random realtor site. I guess that includes some of the "special assessment" and or taxes.
Re: For Sale: Mountain Green Resort
Posted: Mar 21st, '24, 09:12
by Stormchaser
Nikoli wrote: ↑Mar 21st, '24, 08:50
Stormchaser wrote: ↑Mar 21st, '24, 08:36
Nikoli wrote: ↑Mar 21st, '24, 08:20
The HOA fees are crazy. $1,838 monthly on a one bedroom. I am guessing this is why there are so many listed for sale.
The HOA fees are actually closer to $600/mo for a 1-bedroom and are based on square footage, but they are paid quarterly which is where the $1,800 number likely comes from. The special assessment for the major renovation/capital improvement project is the killer. My special assessment was in the neighborhood of $2,000/mo for the next 6 years. Over $30k/year for the foreseeable future paid to the condo association, plus the costs of owning and using it bumped that number to closer to $38k/year (over $3k/mo to own). For me, that was unsustainable. The folks that own 3-bedroom units got a much bigger ticket as the payments are all based on unit size. Justifying that kind of expense with no interior renovations (units or common areas) is stupefying. The selling war is on...average list price per square foot is dropping like a rock.
Interesting. I pulled that number from a listing on a random realtor site. I guess that includes some of the "special assessment" and or taxes.
More likely it's an error. I get a $1800+/- bill every three months, not every month. Taxes are cheap, $100/mo.
Re: For Sale: Mountain Green Resort
Posted: Mar 21st, '24, 15:32
by sparky mcgee
I had a seasonal rental for 6 yrs until last yr at mt green 3b10. Owner offered it to me for 180k. No thanks. Loved the location but if I were gona buy would prob go to Trail Creek that seems like a well run operation although Ive never actually stayed there
