Many such locations owned by real estate developers are facing problems related to financing of project undertaken by them because of dwindling sale and low value sale if at all it is there. There is either delay in developing execution of such projects or postponement till an indefinite period.

The Remote Location Factor:

The problem is confined to few locations, which are remote and relative difficulty of accessibility. Some famous ski resort operators feel themselves spared of the difficulties encountered by majority of sky resorts. These are the views of a professional ski resort planner involved in designing more than thirty project locations spread globally.

The situation is so grave that during last 15 to 20 months the developers’ response to the market trend is felt by their stopping the construction of their ongoing projects. The constructed projects are being sold on steep discount.

There are few resorts, which have performed well even in spite of market drifting downward due to very strong fundamentals present influencing the project  growth. The benefit of good location is that there is higher revenue earning from these sites as a result of site investment is self propelled.

Revel Stoke Mountain Resort:

It is a bit distantly located in contrast to other locations involved in providing Olympic out door gaming facility.

It is comparatively more far from Whistler, the location preferred for large number of Olympic outdoor activities. Revel Stoke Mountain Resort is favorite place for international focus to hold their Games at this location.

The operators of the resort claim that they are benefited immensely although the resort is situated at a distance of around 700 kilo meters away from whistler remotely situated in Columbia.

There is a hot news that the resort has of its own created facilities of superior skiing in a locality having difficult terrain has enabled helicopter and cat skiing. The operations at this resort were commenced in December, 2007 and is spread over 500,000 acres in acres. The plan of this resort was to run for a 15 year period with projected expenditure of 1 billion at the time of economic recession.

By this time out of 3 condominiums scheduled for construction, two of them were of the stage of presale and in the near vicinity two single family constructions were already complete.

At this juncture Northland Properties based at Vancouver, who was holding majority interest had taken a tough stand. The plans chalked out worked well in favor resulting in amazing sale of 100 condos out of 115 in its two building constructions. There was also sale of 32 out of 49 single family properties. The realization value was around $1.90 million with buyers located in Canada and America. Many persons reacted that they missed the buying in early offer and have remorse of the missed opportunity.

Some persons who were not in a position to buy resorts at Whistler and Colorado feel they have again missed a golden opportunity. There are again many persons, who have already purchased a property at Revel Stoke and wanted to buy more, but missed at the last moment.

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In the month of November, 09 the there was an increase of 5 % bringing the price of an average property to around £162,800 as compared to similar properties in August, 08. The current prices are about 2.7 % more than of last year.  The trend has started slowing down after reaching the highest level.

The Contributing Factors:

• The growth rate considering the previous three months, which give a correct position of the trend moved between 2.8 to 3.8 %.
• The views of the economists, if same trend continues in December, 2009 the gross effect shall be 5 % higher. It clearly indicates behavior of the real estate market is dependent on the labor market.
• One of the reason, why there was no increase in the unemployment, because of a fact that the employers considered a more reasonable option of reducing the working hours instead of reducing the number of workers employed and paying the wages according to the hours worked. This option did affect the income of the workers. The effect otherwise would have been more serious if many people lost their jobs.
• Another factor which was the outcome of lesser mortgage rates in effect resulted in very few persons had to sell their houses the effect of which is reflected in house prices, which reflected stability in their prices.

Source of Information:

The above stated facts and figures from the details made known by the Bank of England depicting the increase in the property loans approved for property purchases, which reflected an increase every month during the last 11 months in continuation. After March, 08 the number of property loans is around 57,500.

Effects Observed:

• There is a very early recovery of the housing market than it was otherwise expected. The fall in the availability of properties has resulted in relative increase in the prices.

• The prediction made by the economic critics is that these prices are likely to witness fall in 2010, when more properties shall be available for sale.

• The market surveys observed weakness in the house prices in November, which is also indicated by, rebound effect in house prices, which has slowed down putting a question on the strength of the economic recovery, which has internal imbalances.

• The facts further reveal that the house prices at present are moving up only moderately as compared with the spring and summer period. The national house prices Index for the month of number has put the increase to 0.5 %.

• One more fact which is of 0.5 % increase in housing prices of November 09 over that of October 09 that there has been very fast rebound recovery from the house prices prevailing in the month of February, 09 which were all time low figures during last 5 year period.

These facts have been revealed by a leading mortgage lender operating on national level.

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