Boston Common - Niche Media - A side of Boston that's anything but common.
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PhotograPhy by bostonrealestatemedia.com (chalet) "SellerS are getting full-price offerS in a very Short time." —sara maffei If you are dreaming about buying a ski chalet in the mountains, there's a lot to consider. Real estate prices in ski country typically lag behind the big urban centers by a year or two. Now, with the market on fire in Boston, Portland, and Burlington, the cost of buying a ski home in northern New England is on the rise again. To guide you through the ins and outs of buying in ski country, we spoke with two veteran agents who sell chalets for a living: Sara Maffei, a broker in the Meredith, New Hampshire, office of Four Seasons/Sotheby's, and Peter Hawkes, a broker with Re/ Max by the Bay in Portland, Maine. When is the best time to look for a ski chalet? Sara Maffei: The shoulder seasons—the spring and the fall. Most properties are in use during the summer and winter, so it's easier to get in to see something. Inventory is pretty low now—it's been pretty low for the past couple of years—but we do get inventory in the spring and through the summer. Peter Hawkes: There are two selling cycles at ski resorts. One is the spring— the buyers know it's time to do something. They have been up [in the mountains] enjoying themselves. The other starts coming into the fall, as you hit early August. The mornings are cooler, summer is ending, and we have buyers thinking about skiing. The market is September through October. Winter is coming and there is a little more urgency. What's the market like for ski chalets right now? Have prices been going up? SM: Sellers are feeling more confident now; they are getting full-price offers in a very short time once they put a property on the market. Mountainside homes are selling faster, within weeks. PH: Over the last three years, I have had some of my best years ever at Sugarloaf. I feel like the switch went on this past January, where people were stepping up with no reservations. It was a very strong spring. I can't forecast the next year or two, but based on the national and international economy, it seems like everything is on a good footing to move forward with price increases. What's available and at what price ranges? Do you pay more for proximity to the major ski resorts? SM: Mountainside homes are $400,000 and up, with some going for as much as $2 million at White Mountain ski areas like Bretton Woods or Loon. You could get a condo for $400,000, with 1,400 square feet. For $2 million and up, you can get up to 5,000 square feet, a two-car garage, and a ski-in, ski-out location [where you can ski directly onto the mountain from your front door]. PH: At Sugarloaf, two-bed- rooms are $200,000, and three-bedrooms run from $250,000 to $500,000. Two-bedrooms are around 900 square feet, while three-bedrooms are around 1,100 square feet. Sugarloaf tops out at the $700,000 range, though there are property listings higher than that. Location is everything. I call it the heart of the mountain, the base lodge area where the Sugarloaf Hotel is. That's the target zone—most people want ski-in, ski-out properties, and they want those amenities. Away from the zone you can get more for your money. Sara Maffei, Four Seasons Sotheby's International Realty, 3 Main St., Meredith, NH, 603- 677 7012; fourseasonssir.com. Peter Hawkes, Re/Max by the Bay, The Common at 88 Middle St., Portland, ME, 207-632-2345; maineproperties.com BC For ski enthusiasts: 83 Upper Ox Team Road, in Dalton, New Hampshire, is repped by Sara Maffei of Four Seasons Sotheby's International Realty. top right, from left: Maffei; Peter Hawkes with Re/Max by the Bay. Season Pass Buying the right ski chalet requires a lot more knowledge than snow reports. top new england Brokers share their insights. by scott van voorhis 118 bostoncommon-magazine.com HAUTE PROPERTY Brokers' Roundtable