Skiers: If You Could Move Anywhere... ?

[Low Angle Life]

If I WANTED to stay in NJ, I couldn't afford to buy a place. A few months ago, I mentioned an article I'd read to a customer who was house hunting around Summit / Millburn. Article posited that $500k was the "new" price for an entry level house in NJ (side note: unknown whether this article was planted by realtors). Dude looked me in the eye and said, half a million won't buy much of a house.

Reminds me of the article I read not to long ago about the $1M dollar knock down trend happening across northern New Jersey. The house across the street from us was listed at $675K and scooped up two years ago. What stands in its place now will surely be assessed at $1.8M. Not sure who thinks putting that up on a block full of 2 family rental homes was a smart idea but with no other inventory in town I guess there were no other options...

 

[Andy_ROC]

In my region in the Rochester area the market has been crazy the last few years. I mean completely wonked. Very few sellers and way too many buyers. Inventory is like 10% of the historical norms. Bidding wars at every sale selling for 20%-50% over asking. Prices have gone up >50% in 3 years compared to historically 2-3% /year.

So much for claims of "everyone leaving NY" because they certainly aren't leaving here.

 

[Peter Minde]

Reminds me of the article I read not to long ago about the $1M dollar knock down trend happening across northern New Jersey. The house across the street from us was listed at $675K and scooped up two years ago. What stands in its place now will surely be assessed at $1.8M. Not sure who thinks putting that up on a block full of 2 family rental homes was a smart idea but with no other inventory in town I guess there were no other options...

50s brick house for sale in Summit; $850k asking price. Likely a teardown and rebuild of what once counted as a prestige house.

 

[tirolski]

50s brick house for sale in Summit; $850k asking price. Likely a teardown and rebuild of what once counted as a prestige house.

Whatabout A$pen?
"The city has also limited demolition permits to six per year, meaning that building new homes is more difficult. “If you happen to have a great piece of property but it’s got an old house on it,” says Lucy Nichols, a broker from Aspen Snowmass Sotheby’s International Realty, “a buyer typically wants to tear it down and build their vision. But they know that it could be years before you get a demo permit.”"

Aspen Real Estate Market Is Returning to Pre-Pandemic ‘Normalcy’

(Bloomberg) -- The Aspen, Colorado, market for mansions has contracted from the levels seen during the pandemic; year-to-date dollar volume is down by 40% compared to last year’s. But don’t expect sale prices to drop because inventory is still tight.Most Read from BloombergHow Much Income You...

finance.yahoo.com

 

[x10003q]

If I WANTED to stay in NJ, I couldn't afford to buy a place. A few months ago, I mentioned an article I'd read to a customer who was house hunting around Summit / Millburn. Article posited that $500k was the "new" price for an entry level house in NJ (side note: unknown whether this article was planted by realtors). Dude looked me in the eye and said, half a million won't buy much of a house.

The fact that 30 yr mortgage rates were below 5% (and below 4% and sometimes in the low 2% range) since 2010 until last year has kept many homeowners off the market with low monthly payments. Local upgrades are almost impossible to justify. Even if you house has doubled in value, everything else in the area has also doubled and the interest rates are up around 7% for a 30 yr mortgage. This has reduced inventory greatly. Once interest rates start to drop again, the RE market will loosen up.

 

[Campgottagopee]

These numbers are mind blowing, to me. I'll stay right where I am in my $85,000 A-frame.

 

[Peter Minde]

Whatabout A$pen?
"The city has also limited demolition permits to six per year, meaning that building new homes is more difficult. “If you happen to have a great piece of property but it’s got an old house on it,” says Lucy Nichols, a broker from Aspen Snowmass Sotheby’s International Realty, “a buyer typically wants to tear it down and build their vision. But they know that it could be years before you get a demo permit.”"

Aspen Real Estate Market Is Returning to Pre-Pandemic ‘Normalcy’

(Bloomberg) -- The Aspen, Colorado, market for mansions has contracted from the levels seen during the pandemic; year-to-date dollar volume is down by 40% compared to last year’s. But don’t expect sale prices to drop because inventory is still tight.Most Read from BloombergHow Much Income You...

finance.yahoo.com

First world problem.

 

[raisingarizona]

The friend I stay with at Solitude Village has an apartment virtually in the same position as that pic. Given the goatf*ck that the Cottonwoods have become with Ikon-related parking, traffic, and what not, it's a pretty sweet setup.

It’s awesome. I would be totally fine living right here but I can’t afford it unfortunately so I’ll just enjoy this until the snow flies.

 

[tirolski]

There’s really nice ski towns in The Dolomites.
I might have to brush up on the dialects.
Been there a couple times but only in the springtime. It’s nice.
Great people, food and vino.
Have yet to ski it.
Still on the bucket list.

Skiing Pinzolo is still on the bucket list & they’re having 2 World Cup Telemark competitions in a couple weeks.

FIS World Cup Telemark Pinzolo

www.campigliodolomiti.it

It ain’t all fun and games. Think food too. https://www.campigliodolomiti.it/en/events/telemark-food-experience

 

[Warp daddy]

Right where I am !

a 2000 Sq ft Dutch Colonial, Gambrel roofed nice piece of architecture thats all paid for
.

On the St Lawrence River,low population density ,affordable taxes ,90 minutes from Whiteface and an hr from several Canadian ski venues and Titus ,75minutes to TheTug ,.

The living is good and the people are North Country laid back .4 colleges and Universities with beaucoup cultural and athletic activities..

55 minutes from the capital of Canada and 30 minutes from several 1000Island resort towns.

Is it perfect,He'll No ,but it's pretty darn good