Localism: Stowe, VT

The Clouds are Rolling In (Stowe Rec Path)

Tue, 21 Oct 2008 22:52:55 -0500

Here are some pictures that I took along the Stowe Recreation Path, a 5.5 mile path (11 miles round trip) that is popular for walks, jogging, bicycling and roller blading with both local residents and tourists. Stowe is a ski resort town in northern Vermont which has a vibrant downtown with over 70 restaurants and many shops. Stowe is a wonderful town to visit for winter skiing, fall foliage and its temperate summers. The mountains are absolutely amazing.

The Rec Path is so beautiful. On a nice day, I can take 50 photographs on a stroll or bike ride along the path. There are numerous views including of the mountains, river, farmland and valley. I compare the backdrop of Stowe to Monet's Water Lily paintings - you can have the same subject, yet have many different depictions of that subject based on lighting and mood at different times of day and in different seasons. I must have hundreds of pictures of Stowe's Rec Path!

These pictures were taken over two hours as the weather turned darker on a misty day, yet I still find them to be beautiful...

Stowe Coffee House - Best Little Coffee House in Vermont

Tue, 21 Oct 2008 19:23:54 -0500

Stowe Coffee House is located at the corner of Route 100 and Mountain Road in Stowe, Vermont. It is one of my favorite places. Yesterday, I went to the Coffee House before going for a bike ride. What I like about Stowe Coffee House is that it is a small establishment, you see the same people every time you go in, there is always a friendly atmosphere and it has that small town feeling that you just don't find in many places. Stowe is a resort town which has an amazing ski resort. The coffee shop is located in the downtown, about eight miles from the mountain. They have comfy interior seating for about thirty and outdoor seating for about fifteen. They have a beautiful interior with hardwood floor, nice comfy sofas and chairs and a smattering of books, magazines, newspapers and games for you to enjoy.

Some of my favorite items found at the coffee shop are Maple Everything - anything maple related. My favorite is the Maple Latte. Of course, the maple flavored ham and turkey sandwiches are good, but of course, being a small Vermont specialty shop, you can't just have a ham and turkey sandwich - they must add on tasty things like Vermont specialty cheeses, maple mustard or a cranberry spread and it must be served on some sort of delectable bread such as Cranberry-Orange Bread. Oh, and fresh apple is found on almost everything too. Maple and apple - how can you go wrong?

They also have several different 'treats' that are unique in nature such as cardamon cake. Their salads are the best and their homemade quiche and granola are outstanding. In addition to my favorite maple latte, they also have a delicious gingerbread latte and caramel apple cider :)

BLOG UPDATED 10/22 - Just returned from Stowe Coffee House (again!) and had to comment on their De-Lic-Ious Chicken Salad - chicken breast, red grapes, apple, slivered almonds, red onion, lettuce and tomato - Yumm!

Something Incredible is happening in Stowe Vermont

Sat, 07 Jun 2008 10:49:52 -0500

"Steeped in history, forged in nature, wrapped in luxury-a new legend is rising in the heart of Vermont. Inspired by the mountain that gave birth to the American skiing tradition, Spruce Peak at Stowe stands poised to deliver a new era in luxury alpine living." from their website. . .

I was foresighted enough to recognize that this project was going to be very cool, but I really had no idea how spectacular a finished product they were going to produce. For decades, Stowe had rested on some slightly sagging laurels, its early (I mean real early) contributions to the development of the US ski industry, of course its charm and history as a New England resort town, but the ski area seemed to have missed the boat for much of the last quarter of the Twentieth Century. Snow making and uphill capacity were the domains of other Eastern areas, notably Killington and Sunday River, Stratton, Tremblant. Stowe's Mount Mansfield Baselodge was built sometime in the Stone Age, they used to lay their snowmakers off as soon as they got through Christmas, and no matter when Easter fell on the calendar, it marked the end of the ski season.

But all that has changed, and changed in spades! With the advent of the Spruce Peak Realty project, AIG has brought this mountain to the razor thin leading edge of ski developments in North America, and the world. The luxury is unparalleled. Vail, Beaver Creek, Whistler, Aspen, Deer Valley eat your hearts out. There is a new name in luxury slopeside development, and NOTHING that has come before it comes close: a slopeside mountain village that will never contain more than 400 some residences--and a mix of homesites, multi-million dollar mountain cabins, condominiums and a private residence club, along with upscale retail, new lifts, a stunning Bob Cupp golf course, a new base lodge and a mountain club. Some links to what is happening up there:

http://www.livestowe.com/ownership_opportunities/stowe_mountain_lodge_condominiums.php?page_id=condominiums

http://www.livestowe.com/ownership_opportunities/front_four_at_stowe_mountain_lodge.php?page_id=frontfour

there:http://www.livestowe.com/ownership_opportunities/faq.php?page_id=frontfour#a5

I happen to mention all of this because I was one of the early purchasers of a unit in the Front Four, a truly state-of-the-fractional art Private Residence Club. Now, prior to completion, I find I need to sell my interest. There are a couple of differences between my interest, and the one you would buy today, from the developer. The first, and perhaps most important is the language in the contract. Sometime during the marketing of this project, the developers decided they wanted to discourage speculators, and they replaced the contract to purchase that I bought under with a new one. Today, if you buy a unit, you give the developer the right to buy your unit back from you at the price you paid, should you decide to sell within the first two years(not the obligation to buy it back however--all this does is limit your ability to make a profit). Early buyers gave the developer a first right of refusal as well, but at the price you negotiate with a buyer. In other words, if you or a client, friend or customer were to purchase my interest, there is nothing in the contract language to keep you from making a profit at the first available opportunity. You wouldn't be able to do that with your purchase made today direct from the Spruce Peak Realty LLC.

The other difference (and these are the ONLY two differences) is I will sell mine for 20% less than current developer pricing. Same extraordinary luxury unit, same amenities, same privileges, same membership, same everything, except the dent it puts in your check book. Save $71,800!

I have a contract to purchase upon completion, at two bedroom fraction (an 8th share) in the Front Four. Today, were you to walk in to the sales office and buy this, you would pay $359,000, and get that contract that precludes you from selling at a profit! If you have an interest, let's talk about how you can own my fraction--exactly what they are selling for $359,000, for $287,200, a full 20% discount. AND sell it the next day for a profit if you would like! If you have questions check out the FAQs link above. And if you want to take advantage of my need to sell--be in touch. All my contact info should appear to the right--but just in case, here's my cell 910-315-9977 and my email, fordjill@gmail.com By the way, I do hold a North Carolina Broker's license.

Stowe Vermont Market Trends Dec. 2007

Mon, 07 Jan 2008 08:59:47 -0600

Based upon information provided by the Northwestern Vermont Board of Realtors (NVBR) as of today for the month of December 2007, there were 5 residential units sold within the town of Stowe Vermont with a total listed volume of $4,888,000. Divide this number by the units sold (5) and you get an average listed sold price of $977,600. Juxtapose this figure to the actual total sold volume of $4,444,000 then divide this number by the units sold (5) and you come up with an average sold price of $888,800. Are ya' having an ADD moment yet?

So, "what's up Chris?" you're asking. Well, here you are. These numbers produced a list-to-sell variance of $444,000 or (drum roll please) a 90.91% list to sell percentage. Average days on the market for these 5 properties was 238.

Armed with solid numbers, buyers and sellers alike can manage their expectations and the current realities of our local market.

Call me at 802.238.5256, email me at Chris@ChrisHurdVT.com or post your comments here at Hurd's The Word.

Towns included in these single family residential figures are for Stowe Vermont only as of the date of this entry.