NYC Spars With Hosts Over New Airbnb Rental Laws, 25% drop in nightly rentals, what does this mean for Colorado
I always watch what happens on the coasts to see what is next for Colorado. …
One ski town has been on my top list of investments for multiple years. I highlighted this resort as one of the “best buys” in Colorado real estate. The new owners have invested over 40 million and real estate values have soared. Unfortunately, this same resort is now making me a bit nervous (and should make you nervous) for two reasons. Which Colorado ski resort is a “high risk” investment and why should you be more cautious there?
Why was Winter Park resort originally on my best investment list?
Winterpark was acquired by Alterra along with Steamboat, Snowmass, Mammoth and a number of other mountains. Alterra has put over 40 million into WinterPark focusing on badly needed upgrades as the resorts prior owners did not invest as much in the resort. This has led to a surge of activity in Winterpark driving up prices. Before the acquisition, Winterpark was one of the least expensive mountains to buy a property in Colorado. Allot has changed since the acquisition with prices soaring and construction spending taking off.
Why is this resort at higher risk during the next recession?
Since Winterpark was acquired, real estate values have shot up and construction activity has been off the charts in and around the resort with thousands of new properties now coming online. With the recent runup in prices and increased building, Winterpark is now making me a little nervous
The sky is not falling in Colorado ski resort real estate. Although long term investing in Colorado ski real estate will continue to be a sound long term investment, Winter Park is at higher risk than other ski towns during the next recession due to the enormous increase in supply and the front range buyers that are driving the market.