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In a Special Town Meeting held on August 1, 2011, Killington voters approved the use of Australian Ballot for deciding on budgets, public questions and electing officials.  Approximately 250 people attended the special meeting called to reconsider a vote made in May, 2011.  Comments were made by a few residents advocating their positions.  The vote was called first for deciding on budget issues.  Paper ballot was used for this vote.  The result of the vote was approximately 175 (YES) to 70 (NO).  The other two questions were voted in approximately the same proportions.  Actual results can be viewed on the Killington town website.

A special town meeting is being held tonight, August 1, 2011 at 6:00pm at the Killington Elementary School.  The meeting has been called to discuss, once again, the advantages and disadvantages of:

• Electing town officials by Australian Ballot
• Deciding on town budget items by Australian Ballot
• Deciding on public questions by Australian Ballot

You might recall that the towns’ people voted and approved using the Australian Ballot during the last Special Town Meeting held in May.  It seems, however, those people who did not agree with the majority vote the last time have petitioned the town to reconsider the vote.  Is this an example of, “if at first you don’t succeed, try, try again?”  Hopefully, we can put this issue to bed once and for all tonight.

If you are a registered voter in the town of Killington, please show up one more time at 6pm this evening and cast your vote.  If you hadn’t figured it out already, I am a strong proponent of enabling everyone who has the right to vote, the opportunity to vote.

The town of Killington, VT just completed a reassessment of all property values.  The new tax assessments have been posted on the Killington town website and can be viewed immediately.  In addition, notices were mailed on May 13, 2011 to all property owners to advise them of the new assessments.  If you disagree with your new assessment, you may grieve and/or appeal the new valuation.  You must follow the prescribed process in the prescribed timeframes.   The first step to the grievance process must be completed by May 27, 2011. 

I strongly advise all Killington property owners to check their new tax assessment as soon as possible.  If you have questions about the process used to determine the value, you want more details about your assessment, or you want to grieve or appeal your valuation, call the Killington town listers at 802-422-2248.

A Special Town Meeting was held in Killington, VT on Monday evening, May 9, 2011.  Close to 300 voters attended.  The original purpose of the Special Town Meeting was to review and vote on a revised 2011 budget.  The original budget had been voted down at the annual town meeting held in March.  The new budget, which is approximately $250,000 lower than the original, passed unaninously.  As it turns out, that was the least contentious Article on the agenda.

Two other significant town issues were petitioned to be “warned”, discussed, and voted at the Special meeting.  The first Articles that stimulated some “heated debate” concerned the use of Australian ballots for voting on the town budget, public questions, and electing town officials.  Australian ballots would allow for voters to vote during designated hours (a minimum of 10am to 7pm) on Town Meeting Day as well as up to two weeks in advance and/or use absentee ballots.  The Town Meeting would be an informational meeting only and could be held up to three days in advance of the official Town meeting voting day which is the first Tuesday in March. 

Those in favor of maintaing the current process of presenting, discussing, and voting during the annual town meeting based their feelings on the importance of voters being well informed of all arguments prior to making their decision.  They felt that voters were less likely to attend an “informational” town meeting if they could vote without attending and they would be less “informed” when casting their vote.  Those in favor of using the Australian Ballot system cited work schedules and other commitments that precluded people from being able to attend the Town meeting and hence prevented them from voting.  Their argument was that fewer voters’ preferences were able to be represented.  A paper ballot was called and the Australian ballot was approved by a vote of approximately 55%.

The second major issue discussed and voted concerned whether or not to increase the size of the Select Board from three members to five members.  The primary arguments of those in favor of the increase were that: the workload responsibility was too heavy for a three person board and; a five-person board would represent a broader base of voters.  The arguments to maintain the three-person board were that the Select Board had been able to accomplish what was necessary in a short period of time and that the Board that was elected in March should be given an opportunity to do what the voters elected them to do.  In my mind, there was a strong undercurrent in the room feeling that the reason to increase the size of the board at this time was to attempt to overturn the direction the voters had decided in March.  The Article to increase the size of the board was defeated by a vote of 150 to 133.

The Special Town meeting was adjourned after that vote.  For a full account of the Special Town Meeting results visit the Town of Killington website.

In a press announcement, Killington Resort announced the plans for a new lodge at Killington peak.  “Removal of the existing building and the new replacement facility and related infrastructure is expected to cost nearly $7 million when completed and will consist of a multilevel restaurant and meeting space facility… The removal project is expected to occur this summer and the new facility constructed the following summer with anticipated completion date of Christmas 2012.”

All I can say is hip, hip, hooray!

The Killington real estate market experienced the best first quarter sales since 2008!  The number of transactions is up, the average prices are up (Note: average sales price of condos is up; too few home sales to draw conclusion), and total market revenue is up. 

Twelve properties sold this quarter, up from eight sales during the same period last year and only three during the first three months of 2009.  Two of the properties that sold were homes: one for $270,000 and one for $361,000.  The remaining ten properties were condominiums ranging in size and price from a one-bedroom Mountain Green condo for $68,000 to a four-bedroom town home at Sunrise for $350,000. 

Of greater significance is the fact that last year at this time fourteen properties were under contract and on March 31^st of this year, twenty properties were under contract: twelve condos, six homes and two parcels of land.  This is a good sign for the future.

For the full story and graphics, read the latest Prestige Real Estate quarterly newsletter.

Since writing our last newsletter at the beginning of April, 2010 ten Killington properties have sold:

• eight Killington condos sold, priced from $72K for a 1-bedroom Edgemont condo to $290K for a 2-bedroom loft condo at Trail Creek
• two Killington single family homes sold — a foreclosure on Currier Drive for $162K and a 3-bedroom home on Rim Road for $319K

Last year, during the same period, only TWO properties sold — a condo at Sunrise for $275K and a single family home off McClallen Drive for $800K.

Another positive indicator that the Killington real estate market is improving is that there are eleven additional properties currently under agreement.  There was almost nothing pending at this time last year.

To view all of the current Killington properties for sale, visit www.prestigekillington.com.

On January 11, 2009, an informational meeting was held at the Sherburne Elementary school in Killington.  Members of the Killington Economic Development and Tourism Commission (EDTC) as well as Select Board members and other town volunteers presented the rationale for purchasing a 37 acre parcel of land located on Killington Road known as the “Fireside” property.  Well over 100 people attended the meeting to hear the presentation and voice their support, concerns, and/or questions.

The EDTC contends that the land is necessary to host events critical to building a vibrant four-season economy for the town.  The conceptual site plan presented at the meeting indicates proposed event areas, parking, trails, and access points.  The land is being offered to the town for $850K.  Costs have been estimated at approximately $700K for site development, not including bathroom facilities. 

The EDTC and Select Board are proposing that the town voters approve a Municipal Bond in the amount of $1.4 million to cover the outstanding costs.  According to the presenters at the meeting, revenues associated with the Options Tax will be sufficient to cover the cost of the bond spread over 20 years.  The vote will be held through Australian ballot at the Killington town meeting to be held the first Tuesday of March, 2010.  Absentee ballots will be available prior to the meeting.

Although attendees at the meeting were generally supportive of bringing new events and business to the town and many attendees seemed supportive of the land purchase, a number of the attendees requested that revenue projections be presented supporting the expenditures.  No revenue models or new visitor projections were developed or presented.

An additional meeting prior to the town meeting in March will be “warned” and held for further comment and discussion.  Watch for future announcements.

At a meeting of the Killington Town Planning Commission last evening, November 4, 2009, the Conceptual Master Plan for a ski village at the base of the Killington Resort submitted by SP Land Company was overwhelming approved (by a vote of 8 to 1).  The application for the PUD and Conceptual Master Plan was submitted to the town and a Public Hearing was held starting on May 27, 2009.  Several subsequent meetings were held with the Planning Commission clarifying the intent and refining details of the plan.  Last night’s approval clears the way for SP Land to develop more detailed plans within the framework approved and begin the State of Vermont’s process for Act 250 approval.

Last night’s Planning Commission approval marks a major step forward toward the realization of a new and exciting development in Killington.  Details of the plan will be available within the next few days on the town of Killington’s website.

For the first time since I’ve been selling real estate, I have to say that the adage of “location, location, location” is not the case these days!  It’s all about the PRICE. 

Buyers are looking at a broad range of properties that sometimes have very little in common.  In the past, a buyer would narrow their selection down to a single condo complex or would prioritize some amenity offered.  Today, buyers seem to be willing to “trade-off” location and amenity preference and  buy the property they feel is the greatest value for the price. 

Multiple simultaneous offers are not uncommon.  In most recent cases, the property that is purchased is based on which Seller is willing to take the greatest discounted price. 

For details on year-to-date Killington real estate sales and more information on trends in the Killington real estate market, see the latest Prestige Real Estate quarterly newsletter, currently posted on the Prestige Real Estate of Killington’s website.