Whistler Real Estate Market Stabilizing

[Lady Luck]

You are a good sport rockycycle. I am sure you are not into your lot for the same amount as others. So you will likely do well and I hope you sell your lot soon.

A heated parking space in the Village sounds nice. This bum is the one in ski boots dodging cars to cross the 99.

[lawrencej]

Thanks Lady Luck and rockycycle - very interesting comments, lots of good info. I didn't know about the swimmer's itch issue, no matter how small, worth investigating further. Nor did I know that buildable land is shrinking. But I do know that if you can solve or tolerate these two issues, lakefront up there is a great setup... thanks again.

[rockycycle]

Hey Lady Luck,

Seems like there is a market after all! Just accepted on offer for the lot in Lakecrest, only a couple of points below asking. Weird thing is buyer has sold in Taluswood, agent said too isolated , didn't meet them personally to remind them that rich folks are only supposed to crave ski in ski out. Subjects removed end of the month, if not I'll raise the price. LOL.

[The 604]

so are the mandatory rental pool hotel propertys with limited owner use worth buying yet ? -- the pricing on those must be getting hammered with room rates dropping due to the huge drop in tourism.

how much more would they ave to drop to start making sense ?

[Lady Luck]

Hey Lady Luck,

Seems like there is a market after all! Just accepted on offer for the lot in Lakecrest, only a couple of points below asking. Weird thing is buyer has sold in Taluswood, agent said too isolated , didn't meet them personally to remind them that rich folks are only supposed to crave ski in ski out. Subjects removed end of the month, if not I'll raise the price. LOL.

Congratulations! Vacant lot sales are so rare these days. Hopefully this is a postive indicator that the market is turning.

[Lady Luck]

so are the mandatory rental pool hotel propertys with limited owner use worth buying yet ? -- the pricing on those must be getting hammered with room rates dropping due to the huge drop in tourism.

how much more would they ave to drop to start making sense ?

The fees associated with these types of properties leave little left over for the owner. Not great investments unless viewed as a subsidy to your skiing accommodation.

[Thompson]

I'm priced out from Whistler, and aged out from skiing, what can I do, LL?

[shreddog]

love reading these rich guy & girl sob stories. Keep them coming! I'm an aspiring real estate junky and could only hope for such a sad story.

[Thompson]

I'm priced out from Whistler, and aged out from skiing, what can I do, LL?

Never mind, LL, I'll take a JH's pill for the Bears: Suffer in silence.

[northyvr]

Seems like there is a market after all! Just accepted on offer for the lot in Lakecrest, only a couple of points below asking. Weird thing is buyer has sold in Taluswood, agent said too isolated , didn't meet them personally to remind them that rich folks are only supposed to crave ski in ski out. Subjects removed end of the month, if not I'll raise the price. LOL.

We own in Taluswood. I have to say that it really sucks having to ski down for a drink at Dusty's or walk to our pool for a swim in the summer!

[rockycycle]

Seems like there is a market after all! Just accepted on offer for the lot in Lakecrest, only a couple of points below asking. Weird thing is buyer has sold in Taluswood, agent said too isolated , didn't meet them personally to remind them that rich folks are only supposed to crave ski in ski out. Subjects removed end of the month, if not I'll raise the price. LOL.

We own in Taluswood. I have to say that it really sucks having to ski down for a drink at Dusty's or walk to our pool for a swim in the summer!

Do you walk to Dusty's in the summer? Do you walk to the village, me thinks not, besides real swimmers swim in the lake, all leave less of a carbon footprint, not that you would care.

P.S. Another sale in Lakecrest this week 3.5 million, when was the last sale in Taluswood?

[northyvr]

Do you walk to Dusty's in the summer? Do you walk to the village, me thinks not, besides real swimmers swim in the lake, all leave less of a carbon footprint, not that you would care.

P.S. Another sale in Lakecrest this week 3.5 million, when was the last sale in Taluswood?

Yes we walk to Dusty's in the summer via our ski in trail and down the Dave Murray. We bike to the village. We also swim in the lakes when we feel like it. Perhaps you should be a little less critical of someone you don't even know although I have to say it really warms my heart to know you're a "real swimmer".

I don't follow the Taluswood sales too closely as I'm not looking to sell. Why, are you interested in buying my place?

[kevind]

Whistler in general is an oddball and unpredictable market. It's a one industry town so it's either "boom" or "bust" and no in between. Housing prices tanked between 2002 and 2004 completely bucking the rest of the Canadian real estate boom. It's been buyers market for the years. While the rest of Canada was going up in price, Whistler was steadily moving down year over year for the luxury market...specifically the 2-3.5 mil range. The only things moving for SFD are 1.5 million and under.

I have several friends and associates that got hammered and are still stuck in Whistler and can't get their properties sold. One guy has had his place for sale for 5 years and has had only one offer in all that time for 1 million under his build cost and he just keeps dropping the price. He's also lost most of his hair from the stress. I know of another place that went on the market new in 2005 for just under 3 million and last time I looked it had dropped to the 1.8 range and still for sale. The build and land cost him more than 1.8. A round of drinks one evening last season at the longhorn and I hear this guy over at the next table make the comment something like "Christ, i feel like I could put my place up for 1 buck and no one would call". Another friend I know just wishes his place would magically burn to the ground because the insurance replacement build value is 1.5 million more than he can hope to get for it today if he's lucky and he would still own the land. I could go on and on.

Right now is one helluva time to pick up some seriously below replacement cost luxury properties. When you can buy a house in a world class resort for less than it costs to build AND get the land for free...it's a good time to buy.

[pianoexcellence]

I'm priced out from Whistler, and aged out from skiing, what can I do

The answer is simple...MONAVIE

{sarcasm off}

It seems like everyone in Abbotsford is in this MLM scheme....except for me. When exactly did I move to Salt Lake City????

[pianoexcellence]

Right now is one helluva time to pick up some seriously below replacement cost luxury properties. When you can buy a house in a world class resort for less than it costs to build AND get the land for free...it's a good time to buy.

Hi Kevind, I appreciated a lot of your posts so far. Quick question...

Is Scottsdale a world class resort?