Capital Improvements Summer 2024

[SpillwayEast]

Think it's safe to say the air is coming out of the covid bubble.

Check out this condo. Listed for $770k in January and down to $550k. Thats nearly 30% off original ask.

https://www.zillow.com/homedetails/2023 ... 5947_zpid/

These larger homes in the million+ will fare better, but the market is headed back towards sanity. And that's good.

IIRC the original ask was $850k. That condo is large (5br), still not cheap, and needs a ton of updates. Even if you don't touch the kitchen or bathrooms you're gonna wanna replace all the carpets and probably the furniture. It was an AirBnB so it's probably got some wear n tear. Location is kind of no-man's-land. It looks like it's ski-in when lower Stub's glade is open, and a hike down Mountainside road to get to Snubber. Sawduster does not look easily reachable. Tough proposition. I wouldn't think it's representative of the general market. On the flip side 2643 Alder Brook Lane (Snowbrook) sold for $699k on 9/2/2026, which is still insane.

That one on Spaulding Mtn Ct will be a tough sell when there is lots of inventory on the market.

[High Ball]

Think it's safe to say the air is coming out of the covid bubble.

Check out this condo. Listed for $770k in January and down to $550k. Thats nearly 30% off original ask.

https://www.zillow.com/homedetails/2023 ... 5947_zpid/

These larger homes in the million+ will fare better, but the market is headed back towards sanity. And that's good.

IIRC the original ask was $850k. That condo is large (5br), still not cheap, and needs a ton of updates. Even if you don't touch the kitchen or bathrooms you're gonna wanna replace all the carpets and probably the furniture. It was an AirBnB so it's probably got some wear n tear. Location is kind of no-man's-land. It looks like it's ski-in when lower Stub's glade is open, and a hike down Mountainside road to get to Snubber. Sawduster does not look easily reachable. Tough proposition. I wouldn't think it's representative of the general market. On the flip side 2643 Alder Brook Lane (Snowbrook) sold for $699k on 9/2/2026, which is still insane.

That one on Spaulding Mtn Ct will be a tough sell when there is lots of inventory on the market.

The current pricing seems pretty reasonable for a condo that size, but with the exception of the kitchen appliances, that place is pretty dated. Lots of opportunity for the buyer to spend money.

[Glade Monkey]

What amount ($ or percentage) does ski-in/out add to a property?
Maybe there a sliding scale based on the lift you can ski down to??

[Alpiner]

The current pricing seems pretty reasonable for a condo that size

I'm not a realtor but right before Covid, $550k would get you a 5 bedroom end unit Timbers that needs nothing.

What amount ($ or percentage) does ski-in/out add to a property?
Maybe there a sliding scale based on the lift you can ski down to??

I can tell you that a trailside Timbers unit sold for 25% more than our identical unit about 100 yards away, around the same time. That may or may not be typical, idk.

[Alpiner]

^ Adjusting for inflation, $550k would be about $425k in October of 2020, which is when I would roughly estimate the Covid feeding frenzy started. That would have been good for a 3-4 br Timbers or Commons that needed no improvements. So I'd say this old Spaulding condo still has some Covid pricing built in.

[SpillwayEast]

There is a nice Timbers end unit for sale........$1.75mil.

[High Ball]

^ Adjusting for inflation, $550k would be about $425k in October of 2020, which is when I would roughly estimate the Covid feeding frenzy started. That would have been good for a 3-4 br Timbers or Commons that needed no improvements. So I'd say this old Spaulding condo still has some Covid pricing built in.

Your math is accurate, but once you get it back to the pre-Covid boom price, you need to add 6 years of what would be considered "normal" growth to that number. I could be wrong, but I bet that would get you pretty close to the current listing price. This is where the math gets a bit fuzzy.....even in normal real estate markets, prices don't really move that linear to published inflation metrics. Anecdotally, over the past 2-3 years I've seen quite a few 3 bedroom condos that are a lot nicer than that one sell in the $600k to $700k range. Fun discussion, but at the end of the day, it's the old "willing buyer/ willing seller" thing that determines fair value.

[Alpiner]

There is a nice Timbers end unit for sale........$1.75mil.

Right, I'd say that unit would have been about $600k before the covid craze. If inflation was the only factor, that would be about $781k today. Those 5br units are quite big. Usually one br is used as something else, in this case a game room. A few issues a buyer should consider: this unit's skiing entrance and mud/gear room is on the basement level on the downhill side. So you have to walk around the building and up/down a little hill to access that entrance. You cannot ski all the way to or from the unit. View of Bigelow goes away when leaves come out. View from the kitchen is of parked cars. The top Timbers road used to be the least desirable of the three because it is the longest/steepest walk from the base, which most people just won't do. However now these units have their choice in the morning of heading to either SuperQuad or Bucksaw. First Tracks and Hardwood Ridge cannot access Bucksaw. This building is one of the newer Timbers, with none of the problems common in the older buildings.

[SpillwayEast]

There is a nice Timbers end unit for sale........$1.75mil.

Right, I'd say that unit would have been about $600k before the covid craze. If inflation was the only factor, that would be about $781k today. Those 5br units are quite big. Usually one br is used as something else, in this case a game room. A few issues a buyer should consider: this unit's skiing entrance and mud/gear room is on the basement level on the downhill side. So you have to walk around the building and up/down a little hill to access that entrance. You cannot ski all the way to or from the unit. View of Bigelow goes away when leaves come out. View from the kitchen is of parked cars. The top Timbers road used to be the least desirable of the three because it is the longest/steepest walk from the base, which most people just won't do. However now these units have their choice in the morning of heading to either SuperQuad or Bucksaw. First Tracks and Hardwood Ridge cannot access Bucksaw. This building is one of the newer Timbers, with none of the problems common in the older buildings.

Appreciate the details! If someone is paying the $1.75mil I doubt they are concerned about the HOA fee's. How much have they gone up in the past few years?

[High Ball]

There is a nice Timbers end unit for sale........$1.75mil.

Right, I'd say that unit would have been about $600k before the covid craze. If inflation was the only factor, that would be about $781k today. Those 5br units are quite big. Usually one br is used as something else, in this case a game room. A few issues a buyer should consider: this unit's skiing entrance and mud/gear room is on the basement level on the downhill side. So you have to walk around the building and up/down a little hill to access that entrance. You cannot ski all the way to or from the unit. View of Bigelow goes away when leaves come out. View from the kitchen is of parked cars. The top Timbers road used to be the least desirable of the three because it is the longest/steepest walk from the base, which most people just won't do. However now these units have their choice in the morning of heading to either SuperQuad or Bucksaw. First Tracks and Hardwood Ridge cannot access Bucksaw. This building is one of the newer Timbers, with none of the problems common in the older buildings.

Appreciate the details! If someone is paying the $1.75mil I doubt they are concerned about the HOA fee's. How much have they gone up in the past few years?

Buyers should beware of low HOA fees......probable a LOT of deferred maintenance, like leaking roofs or rotting siding. Always ask the broker for the latest reserve study.

[bigelow]

[

Buyers should beware of low HOA fees......probable a LOT of deferred maintenance, like leaking roofs or rotting siding. Always ask the broker for the latest reserve study.

luckily all the HOAs at SL are in tip-top financial shape, and so are the buildings