5 properties sold in Killington during the Month of June.  One house  (short sale) located on Anthony Way sold for $240,000.  4 condominiums sold: 2 one bedroom Pinnacle units sold for $88,000 and $83,000, a two bedroom Highridge  condominium sold for $155,500; and a three bedroom Sunrise unit sold for $260,000.  There were 6 properties pending at the end of June, 2 homes and 4 condominiums.  To views all of the Killington properties listed for sale please visit us at Prestige Real Estate of Killington.

As a result of the “pending” activity during the months of February and March, thirteen properties closed in Killington during the month of May. Four homes closed ranging in price from $238,000 on Alpine Court in Pico to $530,000 for a  ski on ski off home on Trailview Drive in Killington.  Eight  condominiums sold: a condex located on Killington Road sold for $100,000; a one bedroom unit in Trailside Village sold for $105,000; two condominiums at Highridge sold–a one bedroom for $130,000 and a two bedroom/loft for $230,000;a two bedroom Pico sold for $127,000; a three bedroom Edgemont sold for $142,0000; a two bedroom town home at the Woods sold for $175,000 and a 3 bedroom 4 bath Topridge sold for $625,000.  One parcel of land, a 58 acre commercial lot on Route 4, sold for $178,000.  At the end of May eleven properties remained pending, 2 homes and nine condominiums.   To view all of the Killington properties listed for sale visit us at Prestige Real Estate of Killingon.

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.

Nine properties sold in Killington during the month of April.  Two homes sold, a bank foreclosure on Wobbly Lane for $210,900 and a three bedroom/two bath home on Alpine Drive for $225,000.  Six condominiums sold: a one bedroom Mountain Green for $73,000; a one bedroom Fall Line for $115,000; a two bedroom and three bedroom/loft Pico condominiums for $150,000 and $211,000; a two bedroom Glazebrook for $163,000 and a three bed room town home at the Heights sold for $360,000.  One parcel of land sold, a commercial lot on River Road for $199,000.  To view all of the Killington properties listed for sale visit Prestige Real Estate of Killington.

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!

Six properties sold in Killington during the month of March and they were all condominiums.  A one bedroom Mountain Green sold for $68,000, a one bedroom Pico sold for $88,500, a three bedroom Trail Creek sold for $235,100 and three Sunrise condominiums sold: a two bedroom/den for  $215,000; and two three bedroom units sold for $275,000 and $335,000.  To view all of the Killington properties listed for sale visit Prestige Real Estate of Killington.

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.

Three properties sold in Killington during the month of February and all were Sunrise condominiums.  A one bedroom unit sold for $112,000; a two bedroom sold for $142,500 and a four bedroom unit sold for $350,000.

There are currently twelve properties ( 2 homes and 10 condominiums) under contract and slated to close in the near future. A home on  Wobbly Lane listed for $210,900 and a home on Alpine Drive listed for $225,000 are pending.  The ten condominiums that are under contract are: a one bedroom Pico listed for $90,000; a one bedroom Trailside Village listed for $109,900, a one bedroom Fall Line listed for $119,000; a two bedroom Glazebrook listed for $169,00, a two bedroom Sunrise listed for $230,000;  a three bedroom Edgemont listed for  $165,000; a three bedroom Trail Creek listed for $250,000;  a three bedroom/loft Pico listed for $225,000,  a  three bedroom Sunrise unit listed for $369,000; and, a three bedroom condex listed for $129,000.  To view all of the Killington properties listed for sale visit Prestige Real Estate of Killington.

Dramatic reduction in price on gorgeous Highridge 1-bedroom condo. Heated flooring, marble faced fireplace, new kitchen & bath, Pottery Barn furnishings are just a few of its features. Move right in!!! $139,000