Cranmore Mountain offers new Condominiums in Building 2 at Kearsarge Brook
We don’t have solid word on pricing yet, and this isn’t from Buzzfeed… Cranmore Mountain Resort announced the availability of non-binding reservations on 19 new base area condominium units. In addition, they have had to post the customary language for the reservation stage of selling.
“Building Two of Kearsarge Brook Condominiums at Cranmore has not yet been registered by the New Hampshire Consumer Protection and Antitrust Bureau of the Attorney General’s Office, Department of Justice. Until such time as registration has been issued, only non-binding reservation agreements may be accepted.”
Just like they did with the, now complete, and almost completely sold out “Bldg 1”.
Unit floor plans range from 2-bedroom 2 baths at just over 1300 SF of living area to larger 3 bedroom units that are just over 2000 SF of living area. The plans show the building extending northwest, along with the current axis of building one, and sharing the same entranceway, as originally planned.
This is the second of the phases that will eventually result in modernization of the entire base lodge area. The positive effect on property value in the Cranmore area is predicted to extend well beyond the resort property itself. Nearby condos will eventually shift their rules to accept the short term rentals needed to fuel affordability for their specialty real estate and with that shift will come an instant gain in value of more than 10%, and a greater gain in value with only 1 year of rental history to show the new income potential.
THESE ARE ON-MOUNTAIN PROPERTIES CURRENTLY BEING SOLD FOR LESS THAN THEIR BEST VALUE, DUE TO RENTAL RESTRICTIONS THAT CHOP AT LEAST 15% OFF THE VALUE OF THESE PROPERTIES. The opportunity is in buying before the board shifts the rules.
The value of Kearsarge Brook is supported by the selling out (1 left) of building 1 to out of state professionals that could afford to forego rental income on their ski condo BUT choose to buy at Kearsarge Brook because they CAN get rental income.
This value differential will influence the future of the nearby resort properties. It is hard for a condo association to stay above the highest and best use of the property forever.
Prices range from mid $400k – almost $700k.
Reported by Bill Barbin Contact Bill at 603-986-0385 or email Bill at bill@ilovenorthconway.com
