Introducing Aspen Equity and a Summer Real Estate Update
Some of you have heard this story before. I purchased the land and lodges that you now know as Eagle Point Resort in 2009 while I was living in New York City, where I operated a hedge fund. Most of you will remember the era - the financial crisis which started in 2008 - when banks, home prices and some of the country’s oldest companies were facing devastating declines and government bailouts. As an investor at the time in many condo developments around the country, my investors and I were greatly affected as well. It was a tough time in the markets, and for many Americans.
As I spent my days commiserating with investors, colleagues and fellow investment managers about the cratering U.S. economy, my mind often wandered to the grassy meadows, colorful wildflowers and big vistas of the Tushar Mountains and the new, distressed ski property I purchased with a friend. Wouldn’t it be nice to leave the Big Apple and move out west to the mountains? I could trade my suit and tie for jeans and boots and my power lunches with sharks for picnics with family and friends. Instead of explaining complicated derivatives to insurance companies and high net worth investors, I could help families from Utah, Nevada and California escape from their own big city madness that engulfed me, and instead make memories and second homes in the mountains. Could I really leave New York City to go run the resort with my family in Beaver, Utah?
As it turns out, those day dreams are now my day job as the owner and operator of Eagle Point Resort. For nearly eight years, I have gained valuable experience helping families make memories in the mountains while visiting the resort. Recently, I became a licensed real estate agent in Utah. It was a logical move given all of the time I was spending with incoming families helping them find property and understand the merits of the area. These interactions with families made me realize that my team and I, after seven wonderful winter and summer seasons entertaining guests visiting Eagle Point Resort, had successfully created a place that people wanted not only to visit, but to make a home. Thus, I became an agent and started Aspen Equity Real Estate to provide buyers and sellers of real estate in the Eagle Point area with the highest level of professionalism, decades of valuable experience, great customer service, and of course plentiful local knowledge.
I think it is safe to say that no person has studied and invested in the Eagle Point locale more than I have over the past decade. I make it my goal to understand at a deep level the buyers, sellers and unique influences associated with real estate in the Eagle Point area and nothing gives more pleasure than sharing these insights with my clients.
Here are some highlights of real estate activity in the Eagle Point area for the first eight months of 2017.
Almost all the existing properties listed have sold, as buyers, facing narrow inventory, raised their offer prices high enough to meet asking prices.
The key real estate theme in the area is the tight inventory of available properties for sale with less than 2% of properties actively listed. As of today, there are only 2 condos and 2 cabins listed for sale (out of a total of 170 existing condos or cabins in the area).
In such a tight market, potential buyers need to be ready, willing and able to close when opportunities arise. I advise making offers on properties that aren’t listed for sale by working with an agent with experience and relationships with local owners.
Fortunately, if you are in the market for a home instead of a condo, then there are several options available to purchase a lot and build a home including Aspen Crest at Eagle Point and Sunset Ridge.
There are currently four new homes under construction on lots purchased from the resort.
Lots are still available ranging in price from $20,000 to $210,000.
If you are interested in buying or selling at Eagle Point or just learning more about the area, give me a call at 917-213-4270 or email me at shane@skieaglepoint.com. Aspen Equity Real Estate has brokerage services provided by Utah Key Real Estate.
