Summer 2019 Real Estate Update
After the intensity of last summer’s snowmaking and internet installation projects, I have welcomed the more relaxed but equally productive summer experience this year at Eagle Point. In late July, I enjoyed a “guys’ trip” with my two teenage sons at the resort for a few days. Since I bought the resort 10 years ago (when my sons were 3 and 5 years old), I always looked forward to the day when I could share the incredible adventures Eagle Point offers together with Lincoln and Carter. During this trip, my now able-bodied sons and some friends joined me on a hike to summit Mount Holly which remarkably takes only 2.5 hours roundtrip from the backcountry gate near the top of the Monarch Lift. It’s an awesome hike that rewards you with unbeatable 360 degree views at the summit.
I wasn’t sure if my sons’ legs were in shape for the challenging hike as they mainly exercised their thumbs and voices most of the summer on the Xbox. I was happy to be proven wrong as both boys beat me to the summit with plenty left in the tank while my 44 year old body took it one careful step at a time. I would say to all of you owners or would-be owners that hiking to the top of Mount Holly is probably first on the right-of-passage list for accomplished Eagle Pointers. I highly recommend you try it sometime. If you are lucky, you will encounter the herd of Rocky Mountain goats that range up there.
From my last update, you may recall that I started a construction company (Aspen Equity Construction) to provide excavation and property services for residential building projects in the Eagle Point area. There are currently 10 active construction projects underway and we are working on 9 of them . We just broke ground on my absolute favorite project which is an 8,500 square feet home in Aspen Crest prominently located on the ski run, Glacier Glade. As I think back to the days of hiking the forest with my dog while planning the community that is now Aspen Crest, it brings a smile to my face and a twinkle to my eye when I see the new owners and their families beaming with happiness as they witness ground-breaking on their new second homes. When you ski down Glacier Glade this winter, I’m confident to say that you will be blown away by the quality and scale of homes going up in Aspen Crest. I hope it brings a smile to your face as well, or at least a gracious wink of your eye in reaction to seeing the fruits of the hard work by my team and I over the years yielding remarkable progress.
Here is a quick update on other real estate news in the area:
Four more Aspen Crest lots went under contract or sold leaving only six remaining lots available for sale in the resort’s premier community location. I’m happy to see that the Opportunity Zone tax benefits are influencing demand for new real estate projects at Eagle Point.
The first two twin homes sold with one of them being my new home which is also the model for the twin home program. I hired a great designer who made the whole process really easy. I thoroughly enjoyed working with Lindy Allen and her design studio Four Chairs. She’s awesome if you are looking for a designer to assist with your home plans.
After eleven completed or pending condo sales since June, once again inventory is extremely tight. There are currently only three listings in the area: a one bedroom unit in Mt Holly Village for $79,000; a one bedroom plus loft in Mt Holly Condos for $90,000 and a one bedroom plus loft, two bathroom in Snowflake for $199,900.
Call me anytime if you want to discuss Eagle Point and the opportunities to join our growing community. If you have large capital gains (recently realized or unrealized) and are interested in long-term real estate opportunities at Eagle Point, please send me an email to learn more about the StayCo project that complies with the opportunity zone tax legislation which provides highly attractive incentives for investors who use eligible capital gains to make an investment.