Archive for May, 2009

Killington VT Real Estate Update

Saturday, May 30th, 2009

There have been seven sales in Killington Vermont since January 1, 2009: 3 homes have sold; 3 condominiums have sold and 1 parcel of land has sold.  There are currently seven properties (1 Killington Home and six Killington Condominiums) under contract and scheduled to close in the near future.  There are 51 homes listed for sale, 125 condominiums on the market and 21 parcels of land listed for sale in Killington.

 

Killington Village permit application will get public hearing

Monday, May 18th, 2009

After a meeting of the Killington Planning Commission on May13th, the Commission voted 6-3 to publicly warn a meeting whereby the Commission will review SP Land’s application for a Planned Unit Development (PUD) permit and Conceptual Master Plan Review for the long-awaited Killington Ski Village.  This is the first step in what I expect will be a long application, review, and approval process which will involve both the town of Killington and the state of Vermont.

There were arguments by the Killington Town Planning Manager and Planning Commission members both for and against the public hearing.  The argument against the public hearing was led by Dick Horner, town Planning Manager because he felt that the application was incomplete.  Mr. Horner felt that the application lacked the level of detail necessary to fully evaluate the plan and the town would only get “one opportunity to get it right.”  David Rosenblum, Chairman of the Planning Commission argued for the public hearing by suggesting that a project of the magnitude proposed by SP Land (a 20-25 year phased-in development) could not be expected to have every detail determined upfront.  Mr. Rosenblum felt that the application should be publicly reviewed and discussed.  At that time, the Planning Commission could identify additional information/detail that would be required to approve the plan.  The idea of a “conditional” approval was also discussed and acknowledged as a possibility.

The result of the discussion was the warning of a public meeting at the Killington town offices on Wednesday, May 27th at 7:30pm.  I urge anyone and everyone with an interest in the future of Killington to attend this meeting.

For the Rutland Herald prospective on this meeting…

Killington Real Estate Update From Prestige Real Estate of Killington

Saturday, May 9th, 2009

There have been six sales in Killington since January 1, 2009: 3 homes have sold; 2 condominiums have sold and 1 parcel of land has sold.  There are currently ten properties (five Killington Homes and five Killington Condominiums) under contract and scheduled to close in the near future.  There are 49 homes listed for sale, 131 condominiums on the market and 23 parcels of land listed for sale in Killington.

Killington Ski Village Update

Wednesday, May 6th, 2009

On May 13th at 7:30 p.m. the Killington Planning Commission will discuss the Planned Unit Development (PUD) and Conceptual Master Plan Application for the ski village at the base of Killington Ski Resort.  Many believe, as do we at Prestige Real Estate of Killington, that this development with a mix of residential, commercial and skier/rider services is absolutely crucial to Killington’s future

 

The first phase of the village includes 157 condominium units, replacing Snowshed and Ramshead base lodges with a 75,800 square foot base lodge and the development of approximately 33,000 square feet of commercial space.  An additional 18 single family homes and 24 attached homes are planned for in the Rams Head Brook area.  

 

Planning Commission approval for this is required before SP Land (the developers) can move on to the state land use permit under Act 250.  SP Land has been developing these plans for over 2 years and is hopeful that the result of this meeting will enable them to take this next step. 

 

Prestige Real Estate of Killington urges the Planning Commission to approve these plans and facilitate the development of this village in all ways possible.

 

  

Killington real estate activity has picked up

Tuesday, May 5th, 2009

In our newsletter dated April 30, 2009, we reported the “worst period for real estate sales in Killington that we can ever remember.”  Only three properties sold in Killington during the entire 1st quarter of the year. 

Fortunately, I can now report, just a month later, that activity has noticeably picked up.  Since March 31st, 2009, one condo sold and there are five more currently under agreement.  Activity has picked up in the market for Killington homes as well.  Two homes sold in Killington since March 31st, and there are five additional homes under agreement. 

I feel that this is a sign of increased confidence in the economy by prospective buyers.  In addition, I believe this is an indication that buyers feel that market has reached bottom.  I anticipate an even greater increase in activity as we move into the summer buying season. 

Continue to watch this blog for further updates.

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