March 2010

The locals have known it for years. The family that plays together stays together. The benefits of kids camp are many and varied. Safety first is that kids learn naturally where to stop on the hill, mountain safety and etiquette.

Socializing with an expanded circle of friends including Whistler residents, Greater Vancouver weekenders and guests from around the world. The love of being active outdoors carries into their teen years. I notice the difference where friends kids are more likley to ski and mountain bike with their family than hang out at the mall.

http://www.time.com/time/video/player/0,32068,67642189001_1966974,00.html

The Olympic Games have our local kids dreaming big and not simply in the alpine. There are opportunities for luge, biathlon and cross country.

So can you put a price on your childs future and your family memories? A real estate investment in Whistler will pay off over time with capital appreciation, some revenue to offset some ownership costs nad the experiences that money can't buy. With low interest rates and some whistler properties selling at 2002 prices the timeing has never been better.

Years in the pursuit and planning but over in a flash! The Olympic and Paralympic Games flew past us leaving memories. Each games was unique in character, athlete's and events but equally memory filled.

It is hard to know where to start but this video off youtube gives the flavour of one of the biggest days- the last day of the 2010 Winter Olympic Games and the Gold Medal mens hockey game. It seemed fitting to spend it in Village Square where the successful bid was annoucned in July 2003. It was an essential Canadian day and Blue Rodeo finished the afternoon off in Whistler with a free concert.

http://www.youtube.com/watch?v=Da0KZYEemZw

In the days since the end of the games the Whistler real estate market is active. The world has seen us and the buyers are here. Many purchasers who have been sitting on the sidelines for several months have jumped in this past 2 weeks. Prices are very good with some properties selling at 2002 levels and others at 50% off the peak.  Interest rates still low and Greater Vancouver has a renewed appreciation of what lies in their backyard.

Over the past Olympic & Paralympic Games I spent many hours volunteering at the information booths as a Village host. The first thing that struck me is that every year on many occasions the Village has all the festivities of street entertainment, free concerts and fun going on that we enjoyed through the Games.

The second thing was how many young families packed themselves into their Canada wear and drove up here to meander the Village enjoying the activities through February & March.

While working with buyers over the past few years their focus has been on whether an "investment" property in the Village can cover it's costs of ownership and debt finance.  Resort real estate does not function in this way. If you want an investment that carries itself industrial or commercial real estate typically performs in this manner. In the Greater Vancouver area investors have also been buying condos and having long term residential tenants for their property also.

Right now interest rates are extremely low, prices in the phase 2 condo hotel market down as well. The phase 2 zoning allows an owner to use the suite up to 4 weeks winter & 4 weeks summer. In each season one week can be broken into weekends. It is a common misconception that a phase one zoned property allows more flexible use. You may use it more but you are still going to be booking it up to 6 months in advance. If you want that revenue (to help cover costs of ownership) the hotel manager has to be able to market and book the rooms. While you can use a phase one as much as you want realistically with work, school, soccer, birthdays etc many people don't use their Whistler home much more than 3 weeks a year.

Right now you could purchase a studio loft that sleeps 6 in the Whistler Village Inns for $199,000. A one bedroom in the Delta that sleeps 4 from $259,000. Studios that sleep 2 in the Cascade Lodge from $119,000. Many other buildings offer sweet deals as well right now. Imagine this- no cleaning the vacation home when you head home, a swimming pool & hot tub to hang out at and family time in the outdoors. Book the festivals such as Crankworx, Telus Ski & Snowboard Festival and plan some family adventures on Whistler Blackcomb.

You don't need the Olympics to get together as a family and enjoy Whistler. Buy your family weekend "cottage" that covers the strata fees, property taxes  and other costs of ownership. Over the long term enjoy the capital appreciation of your asset and increaseed revenues as tourist visits strengthen. Most of all cherish the memories you have from your time here in Whistler!

Rethink your investment ideas and buy real estate in Whistler now! The time has never been better after all the world is now coming to check us out!

It's been years in the planning & making, a 17 day celebration of sport, arts & culture and it is over! The finale could not have been any better in Whistler. Huge crowds in all the squares, bars & patios for the Men's gold medal hockey game and then Blue Rodeo.

The Village Square has been the celebration site for Rob Boyd winning a world cup downhill at home, winning the 2010 Olympic bid with Blue Rodeo being a classic Whistler band. They played Dusty's last stand years ago in Creekside.

The party is not over with the Paralympic Games in a few days and then the April Ski & Snowboard Festival coming. Families had a lot of fun up here over the past 17 days. Whistler is not the Village. Eddie Bauer, Canski, Earls are not Whistler. Don't be distracted by them when the real joy in a day outdoors playing with friends & family in the mountains. No one can ever take that away!