The 2007/08 ski season is now at an end - not for lack of snow, however!  While there were some ups and downs with the chair lifts, the paradise chair was fixed up and Fortis has provided some more reliable power, so we should be good to go for a while.  The new Silverlode chair, while fairly slow for the experts trying to get to the good stuff, has added some needed family-friendly terrain, which my 2, 5, and 6 year olds have appreciated.  Next step?  Perhaps a drag lift from the top of Rino's up to the top of Grey, or something up White Wolf ridge... or some permanent upgrades to Motherlode or Paradise chairs?  Not sure what they'll choose yet, but Red has certainly indicated that continuous improvement is what they're after.

The snow came in just in time for Christmas, and January was fantastic.  A bit of a drought in February, but still decent by most people's standards, and this year, March provided some of the best skiing of the season.  For condo owners able to get away in March when the bookings were sparse, this provided a whole lot of extra fun.

After a long ski season, now we're into real estate season!  It seems to be more of a balanced market in Rossland now, and a buyer's market up at Red Mountain, which has been affected by the US economic downturn.  Folks just aren't too excited about investing in a second home when they have to worry first about keeping their first home, and paying for fuel and food.  The strong Canadian dollar has also had its effect.  However, it also means that those selling their condos and taking the money back to the U.S. should have some currency exchange profit as well.  Overall, it means that property that is not priced to sell stays on the market a very long time, and buyers have more choice and more negotiation leverage. 

 The educated buyer probably gets what they pay for.  If you buy something for under $250K, you can expect to have to sink some serious dollars into the place.  Over $275K, and you could be alright, if it's small.  For a solid 3 bedroom home in move-in condition, you can expect to pay at least $325,000 if it's a decent size and has no issues, and you can find really nice, special  places for twice that amount.

With more selection on the market, it is very important to price your property appropriately, or it will sit on the market for a long time.  I can't think of a realtor in town who won't help their buyers to research the market, by providing a selection of comparable properties which are on the market or recently sold to compare against.  If your property doesn't sell within the first two or three weeks, you should seriously consider whether it is overpriced.  If you think that buyers are willing to pay $300K for a home with a leaky roof, water damage, old carpets, and a highway next door, have a look at what their other options are.

As I live up at Red Mountain, I'm hoping that people will start making offers on some of my neighbouring properties, and actually live here.  The value proposition is starting to tip in favour of living at the mountain, with large and luxurious 2 bedroom ski-in resale condos now a similar price to a 3 bedroom house in town, and a 3-bedroom 1700sqft ski-in Loft townhouse for less than $400K  Perhaps a bit smaller than what you'd get for a similar price in town, but with higher quality and a great location, if you like to ski.  Depends on what you're looking for.

I'd love to help you to find your special place in Rossland or Red Mountain.  I don't have any listings of my own at the moment (if you list with me you're sure to get plenty of advertising!), but I can show you any ot the other Century 21 or MLS listings.  All that, and a free day of cat skiing as a moving in gift!