So what does this mean for Crested Butte, and especially for real estate in Crested Butte? It's only a positive for both. The mountain resort gets much needed experienced resort management, and a corporation running it. What we have lacked for decades is real money and know-how behind the scenes at the resort. If you have skied here in the past, you are aware that some of our amenities on the mountain are a bit lacking. Not enough dining options, bathrooms, lodging, and transportation added up to a resort that is not only hard to get to, but hard to navigate once here. I think this change will result in a more professionally run organization and investment being put in towards upgrading the resort.
As far as real estate, I've always put a $0 valuation on the ski resort in pricing residential properties in Crested Butte. This will make that $0 a positive number and increase the valuations. I see an initial pop in valuations, but the real test will be this winter. I expect we will see a lot more people coming here that haven't been here in the past. If they see what most of us do, that will increase demand on the buy-side and drive up prices. I don't think it's the end of the world, as some people will speculate. The large evil corporation taking over the underdog resort. More like a savvy investment company seeing the potential here and being willing to risk assets towards that end.
As far as real estate, I've always put a $0 valuation on the ski resort in pricing residential properties in Crested Butte. This will make that $0 a positive number and increase the valuations. I see an initial pop in valuations, but the real test will be this winter. I expect we will see a lot more people coming here that haven't been here in the past. If they see what most of us do, that will increase demand on the buy-side and drive up prices. I don't think it's the end of the world, as some people will speculate. The large evil corporation taking over the underdog resort. More like a savvy investment company seeing the potential here and being willing to risk assets towards that end.
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