 Poster: A snowHead
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I read a good article in a property mag whilst waiting for a meeting yesterday, about how the dollar is expected to fall every more with the current credit issues over the pond, with some predicating it might even get to £2.25
Anyway they were outlining good investments in Florida for Brits who are looking for a holiday home (not a big fan of Florida) but I was thinking that this surely must be a good time to get a ski pad out there.
Anyone been looking into this? are there bargains to be had? a good rental market for income? When I lived in LA my boss had a couple of places in Mammoth and they were always full.
West coast may be a bit far but Utah\ Colorado would be a good bet
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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With such a volatile market in the US currently, I can't imagine it's wise to buy property over there until things stabilise.
House prices are still falling in the US and the dollar is still getting weaker, it'll be worth a risky investment at some point, but not quite yet.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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I imagine this could mean for a quiet time on the slopes this winter in Europe. I would love to ski the states but for money and time, now would be the time to go, i can imagine mant Europeans feel the same. The only problem being all the Seppos'. 
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You need to Login to know who's really who.
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SMALLZOOKEEPER, see you in January young man - no USA for me
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Yeh I would wait for it to bottom out first as I think it will fall a fair bit more.
Plus with all the credit issues in the US there must be quite a few repossessions of houses\ 2nd homes. I was more wondering if when it starts to stabilize will we see a rush of barging hunters heading over there
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You'll need to Register first of course.
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It's wonderful for me - off to New York in 2 and a bit weeks. 
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There's talk of the pound following the dollar and falling against the Euro . . . .
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At any level, as many think it will rise as think it will fall. Half will be right, half will be wrong! Unfortuantely know on knows which half. (sort of, anyway)
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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david@mediacopy, So will that make my Porkpie importing business more profitable? Or just continue to have an effect on my waistline?
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I've just ordered a few things from the US online. Even if I get charged VATY and duty it's still going to save a fair bit compared to buying the same items in the UK. If I don't get charged I will pay significantly less than half-price. Must be tough on anyone trying to export to the US at the moment.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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ajbaldwin, if you bought a property in the USA, you'd almost certainly need to finance it with a dollar mortgage and your rental income would be in dollars. If your assets, income, liabilities and expenses are all in dollars, currency movements don't matter a great deal. Also, you'd presumably be looking at an investment that you'd keep for at least five years and over an extended period short-term currency movments become much less signigicant.
I'd be much more concerned about the volatility of the US property market: it's very weak at the moment with no obvious evidence oif an upturn. But, as with currency movements, short term changes in market sentiment shouldn't have a major effect on a long term investment.
A property in a ski resort is more a lifestyle thing than an investment. Your rental income isn't likely to cover the full costs of ownership and, unless you're looking at a resort with extremely constrained opportunities for future development, capital appreciation is likely to be depressed by the continued construction of high-quality new properties. From an investment perspective: avoid. From a fun perspective: worth a go if you have plenty of cash.
If you're interested, try googling for the Yellowstone CLub. There are some interesting opportunities there 
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| Jonny Jones wrote: |
| If you're interested, try googling for the Yellowstone CLub. There are some interesting opportunities there |
Do they do futures in Pic-a-nic baskets, Boo-boo ?
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You know it makes sense.
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Jonny its looks very nice
I might put an offer in on
BEAR PAW 189
Bear Paw is a stunning residence on 17.46 acres of Montana’s pristine landscape set in the midst of...
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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| Jonny Jones wrote: |
ajbaldwin, if you bought a property in the USA, you'd almost certainly need to finance it with a dollar mortgage and your rental income would be in dollars. If your assets, income, liabilities and expenses are all in dollars, currency movements don't matter a great deal. Also, you'd presumably be looking at an investment that you'd keep for at least five years and over an extended period short-term currency movments become much less signigicant.
I'd be much more concerned about the volatility of the US property market: it's very weak at the moment with no obvious evidence oif an upturn. But, as with currency movements, short term changes in market sentiment shouldn't have a major effect on a long term investment.
A property in a ski resort is more a lifestyle thing than an investment. Your rental income isn't likely to cover the full costs of ownership and, unless you're looking at a resort with extremely constrained opportunities for future development, capital appreciation is likely to be depressed by the continued construction of high-quality new properties. From an investment perspective: avoid. From a fun perspective: worth a go if you have plenty of cash.
If you're interested, try googling for the Yellowstone CLub. There are some interesting opportunities there |
I disagree with your money analysis. Given the on-going cash flow (mortgage payment, maintenance, real estate tax, rental income) are in US dollars, if it breaks even (roughly), the only expense will be the initial payment. And the weak dollar would make that initial payment smaller for Europeans. More over, if the long term dollar is to go weaker, one should be VERY CAUTIOUS in investing in the US, period. On the other hand, if the expectation is for the dollar to move back to what it used to be in the long term, then the investor stand to GAIN additionally when they eventually sell their property they bought for cheap.
I do agree with the property market analysis. If the objective is investment, the "sun belt" state might be better location for property investment than ski resorts. A property in snow country is more for the life style. And only if you're really lucky, you might come out with profit better than investing other places.
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Poster: A snowHead
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There is a limit to the amount of time you are allowed to remain in the US without the appropriate legal permissions. That applies whether or not you own property there.
That and the distance are a couple of reasons why property closer to home may be a better bet.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| Latchigo wrote: |
| There is a limit to the amount of time you are allowed to remain in the US without the appropriate legal permissions. That applies whether or not you own property there. |
Yes and no.
Each "visit" is good for something like 3 (or 6) months, which can then be extended for another 6 months. And you can simply turn around and fly right back in a month or so and do it all over again.
Just ask the retirees living in Florida.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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You need to Login to know who's really who.
You need to Login to know who's really who.
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dollar cad 0.9250!! . u.s property is buggered huge condos being finished in florida.. big estates being built that are neither near anything worthwhile or on the way to anything worthwhile.. manhatten for example, is ok due to its finite amount of space.. if your investing in a ski resort make sure its one with fanatical planning contraints as the seppos aint shy of digging up a few hundred acres of nearby forest for a new development..
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Anyone want to buy my house, 15 acres, 3000 square feet, 4 bedrooms, 3 bathrooms, ski hills 30 minutes away, golf in the summer, near beaches on lake Erie, $425000
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You'll need to Register first of course.
You'll need to Register first of course.
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| abc wrote: |
I disagree with your money analysis. Given the on-going cash flow (mortgage payment, maintenance, real estate tax, rental income) are in US dollars, if it breaks even (roughly), the only expense will be the initial payment. And the weak dollar would make that initial payment smaller for Europeans. More over, if the long term dollar is to go weaker, one should be VERY CAUTIOUS in investing in the US, period. On the other hand, if the expectation is for the dollar to move back to what it used to be in the long term, then the investor stand to GAIN additionally when they eventually sell their property they bought for cheap. |
I sort of agree with you disagreeing with me. My analysis was based on the assumption that a UK citizen buying a US property would invest only a small deposit in sterling - perhaps $50,000. If the dollar declines by, say, 20%, your losses aren't huge (compared at least with the cost of the holidays that you'll be having in your condo). If you invest more, you're obviously more exposed - and I guess that's where you're coming from.
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dbiggins, No thanks. I've heard the drive is a swine to keep clear when it snows.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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dbiggins, Seriously - tell us more about the ski hills .
Lots of smaller ski places get mentioned on EpicSki.
I dare not ask questions about the places that sound like the mythical Badiddllyboing, Idaho in case I get the catchphrase responses :-
'Isn't she pretty ?' ; 'What a guy!!!'
What is the local skiing for Buffalo actually like ?
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Latchigo,
Here is the website for our local ski town, Holiday Valley. It always gets great reviews and voted as one of the best resorts in the East. If we had the vertical that they have in Vermont then it would be one of the best in the country, the infrastructure is great, the town atmosphere is really good. They actually produced two US Olympic ski team members, Freestyle and Bumps I think. Its onlty 45 mins from Buffalo, they are adding a new lift this year and three more runs. Real estate is actually going up here, thanks to the Canadians who come down in droves to ski
http://www.holidayvalley.com/winter.cfm
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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dbiggins, Thanks. I do not remember Holiday Valley from EpicSki.
It is about the same size as Brighton, Utah - which I really like - but it has twice as many lifts.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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You know it makes sense.
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If you are going to invest in the US, the best way is with an all-cash purchase (or as near as possible).
The only drawback of that is that if you buy at 1.80, and it goes to 2.05, your property is worth a lot less than you paid for it, so don't sell.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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I've been watching Colorado property prices but not much sign of fall as most purchases are second homes for americans. Wait or buy? How long can you live without the pow?
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Poster: A snowHead
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Its a 6 month visa for the USA for brits and you can do a quick border hop if you need an extension
Although after a day in tijuana you migh just want to return to blighty
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| ajbaldwin wrote: |
Its a 6 month visa for the USA for brits and you can do a quick border hop if you need an extension
Although after a day in tijuana you migh just want to return to blighty |
Brits don't need a visa to visit the US (only need it for work) But I don't know how long the first stay is now. The US is becoming a fortrest since 9/11...(for the legal visitors anyway, doesn't seem to deterr terorist though) 
Send a letter to the INS (or whatever the "new" agency is called) and say you really enjoy the US and nedd more time to see it, you'll get the extension with no hassle. Well, as long as your name doesn't sound middle-eastern, that is... (used to do that a lot when my Mom comes for visit)
The "hop across the boarder" trick has been discontinued for the most part.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| rob@rar wrote: |
| Must be tough on anyone trying to export to the US at the moment. |
Surprisingly, haven't felt any specific pressure yet. It's been a long time since we've raised US prices in line with costs though.
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FAQ
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With US dollar now worth less than Canadian I am expecting that there will be fewer tourists here this year which means even more mountain for me 
