Pintmaster

Do not buy property at Keystone Resort

About 5 years ago, my parents invested in a Ski property at Keystone Resort in the Ski Tip Ranch Neighborhood. Keystone promised they would build a new Ski Lift for the residents in that area and promised Ski in, ski out ability. Instead of protecting the interests of the homeowners there, Keystone, owned by Vail corporation keeps building and building and saturating the small local market. In the deed to the property, there are also numerous favorable clauses for the resort - they get a cut on each sale. When the property was under the management of the resort, there was hardly any occupancy except for over the major holidays. Generally, a good rule of thumb is - dont buy property where you are relying on the builder to control your interests, because they make more money on building and selling more property than they do protecting the interests of current owners. Dont buy in a place where there is excess land - such as around many ski areas. It may be hard to get to, but it isnt hard to build more properties if the demand is there. Do not buy timeshares (i.e. Westgate resorts which is in the ground floor of my office building and in the nearby mall just smells like a scam). But I digress... the important thing here is do not trust Vail corporation to protect your interests as a home owner... do not buy within a ski resort.