Vail Valley Realtor participates in resort Realtors’ conference | VailDaily.com
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Vail Valley Realtor participates in resort Realtors’ conference

Matthew RendaNorth Lake Tahoe Bonanza

KINGS BEACH, Calif. – There is a saying in the real estate business – “Every place is unique, but some are more unique than others.”A panel discussion featuring members of the Western Mountain Resort Alliance revealed that resort areas from Vail, Colorado, to Tahoe to Park City share much in common. One of the major issues facing most mountain resort communities is financing.”It’s really difficult to get loans for condos right now,” said Jim Figge, from the Sawtooth Board of Realtors based in Sun Valley, Idaho.Rodney Allen, of Exclusive Mountain Retreats Real Estate in Summit County, said loans for vacant land plots are also difficult to get.All six representatives said the past ski season was good, but not great, and led to moderate increases in sales .”Our number of sales rose 23 percent when you compare the first six months of 2010 to the first six months of 2009,” said Ulrich Salzgeber, with Buyer’s Resource of Steamboat Springs.However, Figge said 2009 was so bad for real estate that the first two quarters of 2010 do not represent a quality comparison point.”Our number of sales was up 97 percent from last year, but that’s like comparing present stats to the abyss,” he said.Diana Mathias of Slifer, Smith & Frampton, of Vail said real estate prices peaked in 2008 before the housing bubble burst, and representatives from Park City and other Colorado locations concurred.While panel members similar concerns, there were some marked differences among the six resorts.Representatives from Vail, Steamboat Springs and Sun Valley have invested heavily in local airports to improve access to their relatively remote resorts.Park City, 30 minutes from Salt Lake City, actually serves as a primary residence for the majority of property owners while Tahoe is mostly a second-home retreat for San Francisco residents.Despite the differences, panelists agreed the housing bust of 2008 and ’09 has run its course and positive signs for resort real estate continue to emerge.


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