Question on Squaw Creek Resort

Squaw Creek resort at 400 Squaw Creek Road has one and two bedroom condos
that they are going to auction off. I went to Zillow.com to look for
resale value, and to my amazement it looks like almost every single unit in
this complex is for sale:

http://www.zillow.com/homedetails/40...28655493_zpid/

In fact, it looks like a total catastrophe. Does anyone know the
background of this complex?

It looks like the monthly fees you have to pay the association are enormous
($1700/month approximate), and it looks like rental fees are very low and
don't even pay back the cost of these fees. Is this the reason that no one
wants these units any more?

--
W

On 3/31/11 5:14 PM, W wrote:
In fact, it looks like a total catastrophe.

It is.
But then, all of real estate driven ski resort developments are total
catastrophes.

Built as a hotel that couldn't rent rooms, converted to condos that
can't sale. Part of Squaw's abortive effort to be a Colorado style
destination resort. Not even near enough to Squaw's base to feel like
part of the ski hill.

I think you should buy one, or more - great investment...