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Stowe Inventory Remains Low - Market Update

As we approach the end of the 2nd quarter of the year, we thought we’d give a quick update on the market. A recurring theme continues - that of Buyer demand continuing to be strong, and inventory low. So far, the buying and selling season has already been a busy one. As we enter the most active period of the real estate sales market, this is a very good time to sell. Buyers are ready, and with the lack of inventory, they are looking for more choices. For Buyers, it’s still a good time since interest rates have remained at one of the lowest levels ever, and if prices rise, the sooner the better to buy.  

As you may be aware, the Vail purchase of Stowe Mountain Resort operations was recently completed. Many ask if that has had an impact on real estate sales. It’s still a little early to be quantitatively definitive about that, but many are talking about it, and feeling that overall, it is of economic benefit to the region. In addition, we have been seeing a pretty clear positive impact in some segments of the market. When the news first broke about the impending sale, there was an uptick in sales of condominiums located near the Mountain.

Since the start of the second quarter, there have been a total of 25 residential closings, which includes 16 condominiums. The price range is from $106,000 – $3.3 million, which is a Mountain Cabin, at Spruce Peak.  Currently there are 24 residential properties under contract, ranging in price from $199,000 - $1.495 million; 2 of the pending sales are over $1 million, 7 of them are condominiums.  

This is just a overview, but if you are thinking of selling, it is a great time to list your property. If you are thinking of buying, new inventory remains tight and have educated representation in this market, will work to your advantage. Let us know if you have any questions, and how we might help you reach your real estate goals, and assist you through the process.

New Stowe VT Residential Listings for Sale

Real estate Inventory remains at one of the lowest levels we've seen in years.  Buyer demand remains high, and so does the expectation for new residential listings and choices.  As we enter into the spring selling season, more listings will be coming on the market.  In the meantime, here are a few special properties which we have just recently listed for sale, representing a really nice variety of choices for today's buyer:

774 Barnes Hill Road, Stowe VT | Asking: $595,000

Apple trees and natural landscaping accent the meadow on this 10 acres parcel.  Sitting on a knoll overlooking a large swimming pond, this Cape-style contemporary home has gorgeous views of the Worcester Range.  The master suite on the first floor looks out on the pond and a small screened cabin. The house is filled with light from the oversized windows.  For more details, including photos, inside and out, visit the property profile.

3 Bed | 3 Bath | 2 Car Garage | 10.2 Acres

 

 

152 Houston Farm Rd, Stowe VT | Asking: $760,000

Surprising gem in the heart of Sugar House Hill. Just off the Mountain Road this home offers a quick trip to the ski hill, access to the bike path, close proximity to restaurants, and quiet beautifully landscaped surroundings.  Enjoy summer evenings or morning coffee on the screened-in porch.  The perennial garden and stone wall create a colorful accent to the view.  For more information, you can find out more about this property here.

3 Bed | 3.5 Bath | 2 Car Garage | 1.56 Acres

 

 

1275 Notchbrook Road, Stowe VT | Asking: $265,000

A condo in the mountain high looking out to open sky. Oh so fun with outdoor pool heated in the winter, way cool! Windows looking to the view, plus the ski trails too. Everything is there for you, no upkeep to do. What could be easier than living here? Among the mountains and the deer.  Such a perfect place to be.  If you visit, you will see, that life in Notchbrook is the best.  A perfect place to enjoy a rest. Click here to learn more about this unique opportunity.

2 Bed | 2 Bath | 1 Carport | 1400 Square Feet | Unit 21AB

 

Vail Resorts Purchasing Stowe Mountain Resort

The rumors were confirmed on February 22nd that Vail Resorts will be acquiring Stowe Mountain Resort from the Mt. Mansfield Company.  The $50 million dollar purchase will be Vail's first mountain resort on the east coast, adding an iconic one to its portfolio of 10 mountain resorts, like Beaver Creek, Breckenridge, and Blackcomb in British Columbia.  This likely bodes well for all of Stowe, bringing more here to ski and for other activities, year-round.  Also, Vail's Epic Pass will be very popular, which will allow local pass holders here in Stowe the ability to ski and ride at any one of the other Vail mountain resorts at a very affordable price.

You can read more about this exciting news in Vermont Ski and Ride's article.

The Shine Project

As we look back on 2016, there were many memorable events.  As the world wrestles with big changes, and impacts for so many people across the globe, sometimes we feel challenged about what we might be able to do individually on a social level, to help those in need.  There is a website we found inspiring, which offers many ideas about what we can each do as individuals, as well as  communities.  It’s The Shine Project.  By simply reading it, we hope it brings a smile to your face, and allows you the opportunity to offer whatever service to your community, you may have been thinking about.

Each member of our office has committed to a community project of their own personal interest.  We have some information on our website listing some local non-profit organizations and resources. 

For additional ideas of organizations in your community, you can also go to JustServe.org to discover volunteer opportunities in your neighborhood.

“Do something small, every single day, for somebody else”. 

                                                       Theshineproject.com  

Source: TheShineProject.com  

Photo source: TheShineProject.com    

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    Stowe's Stone Hut to reopen soon!

    Almost a year ago, Stowe’s legendary Stone Hut burned to the ground.  With a lot of hard work, and community and state funding, the iconic one-room cabin will be available for occupancy again, on December 1.    On Tuesday, November 1, Governor Peter Shumlin, and Vermont State Parks Commissioner Michael Snyder rode a snowcat to the top of Mt. Mansfield to celebrate the rebuilding of  the Stone Hut.  The lottery system will be in place again, for those who want to stay there, and get 1st tracks at sunrise. 

    The hut, originally built by the Civilian Conservation Corps in 1936, burned last December 23rd, after a fire started when a wet log was left leaning against the wood stove.  The estimated cost to rebuild is around $276,000.

    It's been rebuilt pretty much as it was, with an attempt to keep the original character and the coveted experience. There's no electricity or running water, and you'll need to bring your own mattress pad this year.

    See you on the slopes!

    source: VT Ski+Ride

    photo source: vtstateparks.com

    There was skiing and riding this past weekend!

    First tracks have already been made after 11" of fresh snow fell on the mountain, this past Saturday night.  So, might be time to think about grabbing those early ski and ride pass discounts offered.  If you're planning on skiing and riding at Stowe Mountain Resort, they offer many discounted options.  You will find many great deals, including young adult and college passes. These prices are only available until November 6, so don't delay. 

    Another great option is the Vermont Travel Club Card.  Here you will find discounted lift tickets for individuals and families, at 11 Vermont ski resorts plus Sunday River in Maine. You can save up to $42 on some day lift tickets.

    Pay $49 for one card or as low as $34 per card if you're buying a family membership. Typically the card pays for itself after its second or third use. Quantities limited, and rates go up December 1!

    Here's to a snowy wintry winter, this year! 

    Introducing a New Macdonald to the Smith Macdonald Group

    We are proud to welcome Maggie Macdonald to our award-winning family business, the Smith Macdonald Group of Coldwell Banker Carlson Real Estate. Maggie is an experienced real estate professional with deep roots in the Stowe community, who brings a successful background in sales, advertising, and project management to the Stowe area real estate market.

    Maggie will join us in providing trusted advice to our clients. Like Peggy, who has been a pillar of the Stowe community since 1973, and McKee, who has been an award-winning real estate salesperson in both New York City and Stowe, she is committed to providing impeccable customer service. Maggie is forward thinking, innovative, and very tech savvy, which means our clients will benefit from state-of-the-art marketing and sales strategies. 

    As a multi-million dollar sales associate at The Corcoran Group in New York City, and Prudential California Realty in Lake Tahoe, Maggie consistently delighted clients and exceeded their expectations. She helped launch an exclusive riverfront condo development at Winooski Falls, as Director of Sales and Marketing at The Cascades.  Maggie’s advertising clients trusted her to produce cutting-edge digital campaigns that were both creative and technologically advanced. She will bring this wealth of experience back home to Stowe, where she is ready to help clients navigate the local real estate market.  

    Please join us in welcoming Maggie back to the Stowe area, where she will provide every client, no matter how large or small, with personalized strategies for success. With her first-hand knowledge of our unique community in the heart of the Green Mountains, Maggie will be joining us to help enhance the opportunities for all of our buyers and sellers in Stowe and the surrounding areas. 

    The Smith Macdonald Group, represented the Estate at Strawberry Hill, which sold for $6,700,000

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    Last week we sold the Estate at Strawberry Hill, the highest priced recorded sale in Stowe, and the 2nd highest in the state, within the past 10 years. 

    Our marketing efforts, combined with the world’s #1 luxury brand, Coldwell Banker Previews International, helped to secure a contract within 33 days, and a closing on this property in 48 days. This well known property was recently featured in the Previews online magazine Previews Inside Out, and in Architectural Digest.  See video of the property, below. 

    Our team is part of a small group of Vermont Realtors that can claim to be Previews International Specialists. This exclusive Coldwell Banker brand provides our sellers with an exceptional advantage in marketing and selling their luxury properties, over any other real estate brand. 

    Extraordinary properties require extraordinary marketing.  

    Stowe's Exceptional Properties

    Summer is the time when we see a lot of properties come on the market, in Stowe.  There is never a better time for buyers to have so many wonderful choices.   Stowe is highlighted by so many things, like being a world class 4-season resort.  There is skiing, riding, mountain biking, concerts, craft breweries, acclaimed restaurants, and a wide variety of arts and activities.  Stowe is also known for its exceptional properties, and luxury homes.  Each has its unique qualities, along with special features and benefits.

    Here is a sampling of some of our current luxury properties, listed for sale.

    Luxurious living on 11 private acres with a winding driveway leading to an exciting contemporary home with beautiful landscaping. From the moment you enter the home you know this place was created for the view: every window looks to mountains, gardens, and pond.

    For additional details, price, and a virtual tour, you can go to our website.

    Want to be able to ski home or leave from you house to cross country ski, mountain bike or hike? This is the perfect home for you. This home has never before been on the market, and is located in a very desirable area, just before the Toll House.  Lots of privacy, yet easy access to Stowe Mountain Resort.

    For more information on this property, you can go to our website.

    Rarely does a home become available that checks the boxes for most every kind of buyer. Imagine walking into your home and looking straight out onto a massive pond with Mt. Mansfield as a backdrop. Enjoy the easy access to Stowe village and Route 100 South, yet have privacy on 11 acres of beautiful land, surrounding you.

    For more information on this property, you can go to our website.

     

    Weekend Events in Stowe at the end of July

    Summer events in Stowe, the weekend of July 29th, 2016

    July 29 - 30: 2nd annual Stowe Brewers Festival  featuring fine craft beer, cider, spirits, live music, food truck and vendors. 

    For more information and to buy tickets, you can go to their website. 

    Girls Guns and Glory - July 28: Boston’s own - performing at the well known Spruce Peak Performing Arts Center.  Girls Guns and Glory found inspiration from early ’50s rock ‘n’ roll icons such as Chuck Berry, Eddie Cochran, and Buddy Holly, as well as country greats like Hank Williams and Johnny Cash.

    You may want to take a peek at the brand new Spruce Peak Adventure Center at the mountain!

    Check out some of the new shops, restaurants and lodging facilities.  And, don't forget about some of the east's best mountain biking trails.