Taos Ski Valley recently announced that they would allow snowboarding as of March 19, 2008 and many people in and out of the real estate community have said they beleive it will increase property value. For those of you not familiar with the subject, Taos was one of only four resorts in the country that still banned snowboarding on the slopes. The remaining three resorts are Alta and Deer Valley in Utah, and Mad River Glenn, Vt. The Snowboarding has been a bit controversial in recent years due to the popularity of the sport increasing. Needless to say, the announcement has made big news all over the ski world. There are people who beleive it will save the dwindling Taos tourist economy and others that are upset they have to share their mountain with boarders. The question on the mind of realtors in the area is what is this going to do to ski area (and surrounding areas) property value and will it kick off a mini boom?
Well I hate to be the bearer of news, but I don't think it is the silver bullet that fixes everything. Yes, anytime you restrict a segment of the market, you are decreasing your number of potential buyers and most likely the end result is less home sales. But can you really say that home sales are going to increase just because of an announcement? Right now people are a little hesitant to spend their savings on second homes because of the market, war, gas prices... I think it will take a little more than allowing snowboards to swing the momentum. I do however, beleive it is the perfect time to buy a house or condo in this area because prices are low with potentially more visitors coming to the area because of the new snowboarding non-policy. I still think Taos Ski Valley is a great value compared to most other resorts, where it is virtually untouchable for less than $500,000. I just listed a ski valley condo for $199,500 and no, it's not the size of a shoe box!