Archive for December, 2007

Killington Real Estate market – Status update

Sunday, December 9th, 2007

Since our last formal update, at the end of the 3rd quarter of 2007, in Prestige Real Estate’s quarterly newsletter, 14 Killington condominiums, 3 Killington homes, and 1 parcel of Killington land have sold.  That is down fairly substantially in all three categories from the same period last year.  Killington condo sales year to date are down 18%, Killington house sales year to date are down 63% and land sales year to date are down from 15 parcels last year to just one this year.

I think this continued real estate market slide is attributable to:

1) National media continuously reporting that the real estate market is in serious trouble and has not seen the worst yet, causing potential buyers to hold off; and

2) Buyers exercising caution in light of new Killington Resort management.

One thing I do know is that foreign interest and investment in the Killington real estate market has increased in light of the decreased value of the US dollar.  The last three purchase & sale agreements that we have put together involve Brits buying Killington real estate.

Killington ski conditions are great

Saturday, December 1st, 2007

All I’ve heard since Killington ski resort opened this year on November 16th is how good the skiing has been.  I finally let some friends talk me into getting out onto the mountain today.  Boy, is it good!  It would not be an exaggeration to say that the conditions were as good as they are in the middle of the winter. 

So, three cheers for the new mountain management.  I have been outspoken, to anyone who would listen, that we need to give the new team a chance.  It took American Skiing Company years to run the operation down as far as it went.  It’s going to take time and some tough business decisions to get it back to where it should, can, and will be.  The new team has my support.  A strong mountain operation can only help all of the other businesses in town, along with raising Killington real estate values.

So tell all your friends to try Killington again.  I think you will all be pleased with what you find.

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