New York Times: Skiers Warm to Buying Vacation Homes Again

Apparently we're not the only ones coming down with a case of "snow brain" this week. According to a New York Times article yesterday, real estate agents from Vermont to Vail have seen a “noticeable uptick” in buyer activity in the last few months, particularly at the high end.

Brent Libby, managing broker in the Stowe office of Sotheby’s Vermont Country Properties, says skiers have warmed to the idea of purchasing vacation real estate again: “The stock market is up, and everyone is feeling optimistic." Still, Pamela Goetz, associate broker at Sotheby’s International Realty Sun Valley, noted: “We all got into a fantasy world there for a while but are going back to the old rules of real estate: Make a wise purchase and anticipate holding it for a while.”

It’s clear luxury buyers are looking for long-term investments and great deals right now… but fractional shared ownership private residence clubs like The Élan Collection may hold appeal for those savvy enough to face the reality that they will most likely only use their ski retreat an average of 4-6 weeks per year (according to some reports). The beauty of going “Élan” is that skiers can use their mountain retreat for a few weeks in the winter… and exchange their guaranteed use rights for flex time at another property within The Élan Collection. Not to mention they’ll have access to A-list amenities and services on par with the most luxurious resorts in the world—minus the headaches associated with typical home ownership.

How do you think about luxury fractional ownership will play out in your ski town? Are you seeing an increase in buyer interest this month?