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Thursday, March 27, 2008

Views from a first time visitor to Ogden Valley

Our post, "A letter to the forum from one of the Powder Mountain Town Incorporation petitioners" prompted a very poignant response from a recent first time visitor to Ogden Valley. Since it was buried under many posts, we thought it appropriate to post it here.

There is some wise advice for Powder Mountain owners:

I'm a recent, first-time visitor to Ogden Valley and Powder Mountain. 46 year old business owner from Boston. I fell in love with the whole area and I can guarantee that others of my type will for the same reason: natural beauty, unspoiled, seemingly controlled development so far. I hope Powder Mountain stays like...well...Powder Mountain. And I think it will because I doubt there will be the market demand for a "Snowmass-like" development there. Why? 1.) It's not Colorado 2.) Utah has a "weirdness" factor to outsiders/ potential investors for many reasons 3.) the mega rich who will drive up values want to be around the mega-rich so they will go and buy at Snowmass or Park city / Deer Valley. Investing in Ogden Valley is a bit like pioneering.

I am considering buying in Ogden CITY because of the potential THAT city has to provide quick access to worldclass skiing and things to do off the slopes.

Ogden Valley is a special place but IMHO it attracts a different type of investor and speculator -- like me -- an environmentallly consciouss, telemark/ backcountry skiing weirdo. My wealthier friends have NO DESIRE to drive the extra 45 mins when they can hop out of their first class seats at the airport and be in Snowbird or Park City so much faster.

And I do respect the locals -- but I also see a better real estate opportunity in Ogden City; I can buy a 3 bedroom historic bungalow for $75 K and be near bars and brew pubs and movie theaters. I have to drive up the canyon but I have to get in my car anywhere I stay.

The mega-wealth investors need mega-returns and I (personally) don't see Powder Mountain attracting the type of people I know who are also shopping Snowmass, Vail, and Big Sky's mega-rich community (can't remember the name of it).

Powder Mountain is not a destination resort and the prospective real estate developers should do some market research with prospective buyers like the ones that I know and they'll find out that it might not be a good idea to (ruin it).

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