Winter 2020 Real Estate Update

This season, Eagle Point’s 10th anniversary, has been my favorite of all, filled with fluffy snow, happy guests and dynamic development. After 10 years, I’ve assembled a great team who are making their own significant contributions to the resort freeing me to focus my creative energy on the resort’s carefully-considered future development plans. I’m really excited to return to the resort next week with my family for the President’s holiday weekend. If you are around, let me know; let's make some turns together.

My family moved into our new twin home which we stayed in for the first time over the Christmas holiday. With a huge hot tub, high speed internet, ski-in/ski-out access and other cool smart-home features, the new home was a big hit with my wife and kids. Having a new place to stay within Aspen Crest makes a huge difference - it’s like being at a resort within a resort. I am truly amazed at how much the new home has enhanced the already incredible experience spending time at Eagle Point. I am more excited than ever to share that enhanced experience with others by building more smart, comfortable homes and condos in awesome locations around the resort.

The view from my hot tub in Aspen Crest

In Aspen Crest, the resort’s premier ski-in/ski-out location, the new homes under construction (4) look majestic and steady sales have whittled inventory down to only 5 remaining homesites. While I’m delighted and humbled that Aspen Crest is nearly sold out, I’m frankly sad about running out of product to sell! (back on Wall Street, we would call this “a champagne problem.”) Inquiries have remained consistent throughout the season. After the next few sales, I intend to reserve the last 2 remaining lots for my homebuilding business (Aspen Equity Construction) to build and sell finished custom homes which have a look that rivals the quality of homes already under construction nearby. If you have been considering Aspen Crest, now is the time to get serious. Remember, I’m not releasing any more homesites for several years as the focus will shift to building dedicated lodging for resort guests down in the base village area.

Those of you who follow my updates have heard me extol the virtues of Eagle Point’s opportunity zone status, a special designation from the IRS which provides compelling tax deferrals/reductions for investors with capital gains. Many of the recent buyers of property in the area have used capital gains and are planning eligible opportunity zone projects. This is happening faster than I expected and has made me realize that having the resort area declared as an opportunity zone is a fortuitous, once-in-a-career opportunity. I fully intend to make the most of it to build dedicated overnight lodging projects (more to come on this topic in next quarter’s update).

In closing, here is a summary of current real estate opportunities in the Eagle Point area.

Building lots

If your dream is to build a custom home at Eagle Point, we offer 23 remaining lots: 5 in Aspen Crest ranging from $105,000-$209,000 and 18 in the West Village ranging from $20,000-$75,000. We can offer a full range of building services and would be happy to provide estimates and share ideas for your project.

New Twin Home Series

For those who prefer a right-sized, ski-in/ski-out finished home, the third and fourth twin homes are under construction with scheduled completion in November 2020. Each luxury unit is 2,000+ square feet with 3 bedrooms, 3 bathrooms and a 2 car garage priced at $539,000. The twin homes are located in Aspen Crest. We would love to give you a tour of the existing model twin homes that were finished in December 2019. I’m really happy with my new twin home and would warmly welcome new neighbors.

Existing Condos and Cabins

As usual, existing condos and cabins for sale are in short supply. There are only two listings available: (1) a fully renovated one-bedroom, one bathroom ski-in/ski-out condo in Wooded Ridge for $110,000, and (2) my former condo, a three-bedroom plus loft, two-bathroom ski-in/ski-out condo with a garage in Fir Haven for $279,000. Click here for a map of the subdivisions.

If you are interested in buying or selling at Eagle Point or just learning more about what’s happening in the area, give me a call at 917-213-4270 or email me shane@skieaglepoint.com. There is still plenty of season left for a visit with closing day scheduled for April 5, 2020.