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Non Region Specific Ski Town Real Estate

KingGrump

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At the same time, wouldn't you want the baseline system to at least be good enough to provide an educational experience that would allow mobility among the classes- based on the aptitude of the student, rather than who their parents are? Maybe it is... I'm not sure, but reading between the lines it sounds like it isn't.

Here in Canada, the baseline system is just fine, but paying the big bucks for the pricey school gets you connections you couldn't get in a public school.

I believe you have mis-understood my post. I am not talking about private and/or charter schools. I am referring to the NYC public school system.

The NYC public school start tracking the students from kindergarten/first grade by academic aptitude. In elementary schools, there are gifted classes. In IS level, the gifted classes are generally called "Special Progress" (SP). Specialized High Schools (SHS) is the next logical step. Acceptance criterion into the SHS is based purely on a student's test score on the Specialized High Schools Admissions Test (SHSAT). There are no other factors in the acceptance criterion.

TBH, I pity the ones that get into the SHS any other way. Want to see a slow motion train wreck? A "C" student in a "A" school certainly will qualify as one.

BTW, the SHS are 70+ percent minority. 50+ percent come from families living below the poverty line. Many are from immigrant families. Many will take the subway/bus from all over the city for more than a hour (one way) to get to school. They are there because they wanted to be. For most of the SHS, literally 100 percent graduation rate and college acceptance. The whole system is purely merit based.

I do like the "connection" bit. For a kid from an immigrant family living below the poverty line. There are many priorities. Connection is pretty far down on the list.

For the rest of the high schools in the regular part of the public school system. Some high schools in good/decent neighbors are decent/acceptable. But the best and brightest are no longer there. I've done lots of work in NYC schools and jails. Let me tell you, in some neighborhoods, the high schools are rougher than jails.
 
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4aprice

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The one justification is that every year NJ is in the top 5 states for education in the country.
We not only pay for our own school systems but also schools in areas that are not so well off (Abbott decision). Of course being New Jersey funny things go on and many of those "not so well off" schools now have facilities much newer and nicer then the local school system your property taxes are supposed to be supporting.

Such is life in New Jersey
 

JohnL

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This may be a bit of an over-generalization, but one reason why taxes are so high in the Northeast is that government and government services are concentrated at the town level. (I know this is true of Connecticut in particular.) Versus here in Virginia, government is mostly at the county level (with some exception of actual incorporated cities.) As a result, you get some theoretical "economies of scale" at the government level. For instance, the county I live in, Fairfax County, Virginia, has over a million people. School system is organized at the county level - so less redundancy in theory. (But more opportunity to get top-heavy.) And it is one of the best school systems in the country, so we are not sacrificing quality for reduced cost. Property taxes in Fairfax, while expensive, are a fraction of what relatives in CT/NY/NJ pay.
 

JohnL

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WRT the original topic, we live in interesting times. Real estate is generally a good inflation hedge. However, mortgage rates have obviously jumped a lot, the stock market has tumbled - which finances a lot of second homes in ski country, and return to office is becoming a lot more prevalent in many industries. (Divergence of business models - some companies have adopted nearly all remote work, but a lot are going to the weekly hybrid model.)

The inter-mountain West still has the general population shift to it, so I don't see an outright crash of real estate, like in 2008.

But who knows.
 

Wilhelmson

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What are the vacation home trends in other countries?

I have seen a few more reasonably priced vacation homes in the northeast recently. But if I were going to spend $500 or 600,000, it would be an hour or an hour and a half near the beach.
 

Uncle-A

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This may be a bit of an over-generalization, but one reason why taxes are so high in the Northeast is that government and government services are concentrated at the town level. (I know this is true of Connecticut in particular.) Versus here in Virginia, government is mostly at the county level (with some exception of actual incorporated cities.) As a result, you get some theoretical "economies of scale" at the government level. For instance, the county I live in, Fairfax County, Virginia, has over a million people. School system is organized at the county level - so less redundancy in theory. (But more opportunity to get top-heavy.) And it is one of the best school systems in the country, so we are not sacrificing quality for reduced cost. Property taxes in Fairfax, while expensive, are a fraction of what relatives in CT/NY/NJ pay.
2022 State School ranking top five.
1. Massachusetts
2. Connecticut
3. New Jersey
4. Virginia
5. Vermont
The surprise for me was Vermont.
 

Rod9301

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It’s the one thing California did right. Prop 13 caps property tax at 1% of the property value to be assessed at the time of sale and taxes are not allowed to rise more than 2%\yr until the next sale. We still have a super low tax on our rental property because it is based on the 1998 purchase price.
My tax bill is 15,000 a year in squaw, and i bought my house in 98 too.
 

JohnL

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2022 State School ranking top five.
1. Massachusetts
2. Connecticut
3. New Jersey
4. Virginia
5. Vermont
The surprise for me was Vermont.

State School ranking is kinda meaningless.

Fairfax, Loudon, Arlington counties, Falls Church City >>>>> Rest of Virginia wrt education. And the difference in property taxes and home values is a lot different.

Sorta like comparing Westchester and other close in counties to the rest of NY state. With due respect to the rest of both states, but being realistic...
 

Uncle-A

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State School ranking is kinda meaningless.

Fairfax, Loudon, Arlington counties, Falls Church City >>>>> Rest of Virginia wrt education. And the difference in property taxes and home values is a lot different.

Sorta like comparing Westchester and other close in counties to the rest of NY state. With due respect to the rest of both states, but being realistic...
Since this is a thread about real estate I would guess that most real estate agents would disagree with you. My last career was teaching in NJ and I would be interested to see what other states have to say about the rankings.
 

JohnL

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Since this is a thread about real estate I would guess that most real estate agents would disagree with you. My last career was teaching in NJ and I would be interested to see what other states have to say about the rankings.
All real estate is local. I know, duh. State rankings are meaningless, so much variation within each and every state.

Local school system rankings - critical.
 

Uncle-A

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All real estate is local. I know, duh. State rankings are meaningless, so much variation within each and every state.

Local school system rankings - critical.
I think I would be better to attend a poor school in a top state than a top school in the worst state. Students from the schools in the top states get into better colleges.
 

Pat AKA mustski

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My tax bill is 15,000 a year in squaw, and i bought my house in 98 too.
I would guess you paid a lot more for your house in 98 than we paid for ours. Also, local bonds (voted on by residents) are not counted as taxes but they sure do raids than annual total. We have a boatload of those in Big Bear.
 

surfsnowgirl

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Our VT taxes are much higher than instate residents. Much of our taxes are made up of education tax. We use this to tease our friends kids who are full time vermonters. We tell them we are paying for their education so they better do well. I'm seeing prices on condos mostly go down a tiny bit. More price drops than prior. Condos in our VT complex are still going for way more than they were before but they are sitting on market for longer and price aren't going up as much. That said a townhouse in our CT complext just sent for 50k more than we bought ours for 2 years ago. Will be interesting to see the pricing of the next one that goes on the market.
 

ilovepugs

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Our VT taxes are much higher than instate residents. Much of our taxes are made up of education tax. We use this to tease our friends kids who are full time vermonters. We tell them we are paying for their education so they better do well.
don’t worry - we childless doctor lawyer couples resident in Vermont pay plenty of income tax on top of education tax to provide roads for you to drive to ski areas on.
 

surfsnowgirl

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don’t worry - we childless doctor lawyer couples resident in Vermont pay plenty of income tax on top of education tax to provide roads for you to drive to ski areas on.

I wasnt worried but my post was in jest so take a breath. You seem to have misinterpreted my post. We're not upset at our taxes and we're just teasing our friends kids about doing well in school.

We legal- computer engineer types happily pay our taxes in both our home states. Our local VT townsperson has said once we're full time residents we file a declaration of homestead and our taxes will go down tremendously. In the meantime the taxes are not bad at all and it's great fun to tease our local friends with kids. We all laugh about it. All good.

Our place is at Magic and the town of londonderry does a fabulous job of taking care of the roads. We also ski at Bromley and Killington and the roads are wonderful. Of course all wheel drive and snow tires help so we can drive right past the flat landers who wind up in ditches.

Now back to topic. It's nice to see real estate prices settling a bit.
 
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Thread Starter
TS
newfydog

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Well, the Chinese curse "May you live in interesting times" continues to be apropos. I just reviewed and tried to get caught up on this thread. What a monster! Lots of smart people on this board.

In Bend a few "pie in the sky" listings have seen price cuts. Good places still go in a day or so. Inventory is zip, but new listings trickle in. Another restaurant closed down because they can't find anyone to work here. Bend medical care may be good for a smallish town, but it is months to see anyone. A cold wet spring has kept the tourists and mosquitoes under control, but they are both coming. Spring skiing sure was good.

In Taos there is no inventory period.

I can't imagine the double whammy of interest rate hikes and stock market and crypto declines won't have a significant effect on real estate.

I still have no idea if we want to sell the Bend house, or what it would go for.

Keep the tales coming, this has been a good place to gage the pulse of the mountain towns.
 

Jim Kenney

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Famous golfer/golf announcer Nick Faldo just went public with fact that he's retiring from CBS golf broadcasts to his farm in the Bozeman, MT area.
Sir Nick Faldo’s very own 125 acres, future home of Alpacas,Lamas,Cows,Donkeys,Chickens,Dogs,Cats & 1 Fly Fisherman/golfer & his wife. Goodbye City Life!!
faldo farm bozeman mt.jpg
faldo farm2.jpg faldo fish.jpg
FIf_5nvXwAQylD3.jpg
 

scott43

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These guys have been telling the gov't for twenty years that prices are high because there isn't enough supply. Presumably that's been solved then...
 

DanoT

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These guys have been telling the gov't for twenty years that prices are high because there isn't enough supply. Presumably that's been solved then...
Prices are high due to the high price of land. Prices are pushed higher by increasing construction costs so the supply/demand equation is still unchanged and very much in play.

If you don't need to live in Toronto and don't mind very long, very cold winters, you could buy a townhouse in Regina like a friend of mine just did, for $180k cad (me, I just put a deposit on a $181,550cad motorhome :doh: ) for 1,100 sq ft plus a full unfinished but insulated basement, right across the street from Regina General Hospital. Her mortgage officer at the Royal Bank in Victoria, B.C. couldn't believe it as that kind of money doesn't even come close to getting you a vacant lot in Victoria.

Edit: Re, Regina SK. Never mind winters, I once spent the month of June in Regina and the only time the wind stopped blowing, was to change direction. :ogbiggrin:
 
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