Buyers Report

Why might now be the time to buy real estate in McCall?

1. Demographics: Market Size of Baby Boomers - The numbers are staggering. The baby boomers (born from 1946-1964) just turned 62 and account for 30% of the population. We have just the beginning of 80 million boomers starting to think about where they want to live after retirement. There are those who want to live a more active retirement than in the past who know that the lifestyle of the city will be less appealing as time passes. Mountain environments and lifestyles will be one of many that boomers will seek. Whether you fall into this age group or not, the market size of this demographic will result in competition for scarce properties, particularly in the intermountain area of the U.S.

2. Relative Value of McCall properties remain attractive compared to other Mountain Resort Towns . The Rocky Mountain Resort Alliance (RMRA) consists of eleven mountain resort second home destination locations located throughout the Rocky Mountain States. RMRA shares information on real estate sales prices and other issues. Here are the 2006 year end average prices for homes, land and condominiums for each participating resort member. The 2007 statistics will be out in a couple months and we'll publish those as they are available.

1. Aspen $1,531,000
2. Telluride $1,232,662
3. Jackson Hole $1,126,614
4. Vail $922,128
5. Sun Valley $775,100
6. Whistler $756,964
7. Park City $691,328
8. Steamboat $430,011
9. Summit County $369,733(Keystone , Breckenridge , Copper)
10. Winter Park $320,443
11. McCall $306,933

3. Second home resort markets don't act like primary home markets - Buying a property while prices are sliding is not an easy decision but if your goal is to retire in the next ten years now may be the time to put your plan in motion. Here's why. Prices won't decline forever and they will almost be certain to be higher in 10 years. In 2006 sales of primary residences declined while vacation/retirement home sales increased 5%. Waterfront resort properties, spectacular view properties - the kinds of properties you dream of for retirement - will rise the fastest because of their scarcity. Right now you have time to compare and research the market and have bargaining power when you find something of interest.

4. Strong momentum in upper end properties and commercial developments -Even though the residential market has slowed and inventories are plentiful, Payette Lake deeded properties have sold quickly and commercial development in McCall downtown is strong (Alpine Village, Hotel McCall expansion, Legacy Park renovation).

As well, Tamarack Resort has experienced very strong sell through conversion in recent offerings. With respect to Tamarack Resort, the "Elan Collection" just purchased a $17 million building site next to the Tamarack Express lift for 60 condominium private residence club ski in-ski out properties. The Elan Tamarack purchase is further validation that Tamarack Resort is attracting investment and resort developers in the industry. Developer David Disick of Park City is considered a pioneer in the private residence club market having developed the Franz Klammer Lodge in Telluride. In another strong performance, Tamarack recently sold out the second phase of the Lake Wing at Osprey Meadows with seventeen condominiums for $16.5 million.

5. City of McCall fiscal issues behind us. It looks like we are moving past the stranglehold the J-Ditch (sewage treatment) $6 million judgement has had on the City of McCall. The latest proposal to finance payment of this judgment is a sewer rate hike to pay off bonds to retire the financial obligations relating to the judgement. Seems citizens, city council members, business leaders are on the same page to get it done and focus on all the other important growth issues facing McCall.