Friday, May 10, 2013

Powder Mtn. Ski Resort Sale Final - Major Implications for Ogden Valley


Utah Ski Country Real Estate Comparative Statistics: Click here for the latest Utah Ski Country Real Estate Comparative Statistics for the past six months, including Number of Units Sold, Median Sales Price, % of Original Listing Price, Median Price Per Square Foot, and Median Days on the Market. This data is organized by ski resort area.


THE NEWS
The Summit Group recently closed on their acquisition of Powder Mountain Ski Resort, and the finalization of the sale could have enormous implications for real estate sales in the Ogden Valley.

The Ogden Valley has long been a paradise for the relatively few aficionados of four season recreation and natural beauty who know about it.  Snowbasin is a bonafide world class ski mountain, with terrain that received rave reviews when the 2002 Olympic Downhills, Super-Gs and Combined alpine events were held there. Some of the most elegant ski lodges on the planet, award-winning food, cutting edge snowmaking, multiple base-to -summit gondolas, open bowls and 400 inches a year of Utah powder are all a part of the resort's appeal.  Powder Mountain is the largest ski resort in North America in terms of privately owned, skiable acres, with just under 10,000.  And Powder averages 500 inches of "the best snow on earth" each season.  Wolf Mountain, a small resort with a strong local following and a terrific slalom and giant slalom hill, completes the ski resort trifecta in the Ogden Valley.
Pinveview Resevoir, a 2200 sq. ft.recreational lake offering boating, fishing, wake boarding and skiing, fills much of the floor of the stunningly beautiful Ogden Valley, which is ringed by imposing peaks, dotted with farms and ranches, and doesn't have a single traffic light.  Numerous biking and hiking trails, trout streams and snowmobiling opportunities are but a few of the other recreational draws in this gorgeous alpine valley.  And it's less than an hour from the Salt Lake City International airport.

The purchase of Powder Mountain by the Summit Group, reported on at length in the Huffington Post on 5/8/2013, will surely mean changes and development on some level for the Ogden Valley.  Couple that with Snowbasin's master plan for a base village and housing, which is reportedly close to final approval with the second of two counties that the development will encompass, and major changes and a significant jump in real estate prices in the Ogden Valley is essentially a given.

The Summit Group's plans for Powder Mountain are all built around environmentally conscience, limited development geared to it's members and visiting movers and shakers in the art, business, science and political communities.  Local businesses are already tapping into the Summit's multiple undertakings and operations in the Valley.  And more and more influential and well-to-do individuals drawn to the outdoors and natural beauty will see first-hand this remarkable corner of the globe when they attend the Summit Group's high profile conferences, which in the past have been attended by such luminaries as Bill Clinton and Richard Branson.

Also affected should be the greater Ogden real estate market, where property is considerably cheaper than in the Ogden Valley.  Ogden is only a twenty minute drive from the Valley via either the stunning Ogden Canyon or a gorgeous mountain pass adjacent to Snowbasin, and the town of 80,000 was recently judged the "2nd best ski town in America" by Powder Magazine.

If you have experienced he idyllic beauty and recreational opportunities of the Ogden Valley and have thought about purchasing property, or haven't yet, but are looking for an amazing mountain environment at what could still be considered bargain prices - don't delay!  Call a local realtor.

In other news related to Utah ski and mountain real estate, sales in terms of units are dramatically up while days on the market are dramatically down (Utah Ski Country Real Estate Comparative Statistics) at a number of resorts.  Little and Big Cottonwood Canyons, the Salt Lake Bench, and the Park City/Deer Valley and Canyons areas lead the pack in positive real estate trends for sellers.

National real estate is, in many areas, trending strongly toward recovery.  Utah ski and mountain property reflects this trend.  Again, if you're in the market for a home, condo, land, fractional ownership - it might be wise to act quickly!