In my last blog post, Should the town of Nederland buy Eldora ski resort. The results were not as clear cut as I had thought. It was evenly split between the two, but the responses were very interesting. Please see below. Thank you to everyone for your responses and insight it is invaluable. Below I’ll share the details.
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What was the question in last weeks survey?
Should the town of Nederland buy Eldora ski resort?
Yes
No
Please explain your answer above
What were the results from the survey on Nederland buying Eldorda?
I was amazed at how evenly split the responses were.
- 50% said Nederland should buy Eldora
- 50% thought Nederland buying Eldora was a bad idead
I also asked what the reasons behind the choices and even though the answers to the survey questions were evenly split, the actual comments clearly tilted negative. Here is an AI summary of the responses.
The feedback from the survey on whether Nederland should buy Eldora presents a largely negative sentiment. Most respondents’ express concerns regarding the financial implications and the potential burden it could place on taxpayers. Common themes among the critiques include skepticism about the government’s ability to successfully manage private enterprises, with several respondents arguing that such investments often lead to losses without tangible benefits. Some participants acknowledge a potential positive impact on real estate prices if strategic developments, such as zoning changes for accommodations and summer activities, were implemented. However, they emphasize that without careful planning and market adaptation, the venture would likely fail. Overall, while there is a small faction that sees opportunities for economic benefits, the overwhelming majority of responses caution against the purchase due to the perceived financial risks and lack of historical precedent for success in similar situations.
Summary
Thank you everyone for your participation and insights. Although I strongly disagree that it is a good idea for Nederland or any other town to get into the ski business, the survey was evenly split. Without a clear consensus on whether Nederland should buy Eldora, the town of Nederland should put it to a general vote to see what residents say because at the end of the day they will have to live with the decision and there is a ton of risk for residents. Stay tuned for future surveys and results.
Additional Reading/Resources:
https://www.fairviewlending.com/will-real-estate-fall-to-2020-values/
https://coloradohardmoney.com/nederland-buying-eldora-ski-resort-impact-on-real-estate/
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. I’m not an armchair reporter/writer. We are an actual private lender, lending our own money. We service our own loans and own commercial and residential real estate throughout the country.
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Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.