Ski condos careen downhill
By Contributors: William C. Banks, Steven Forbis, Jordan E. Goodman, John Stickney, Eric Schurenberg

(MONEY Magazine) – Prices for ski resort condominiums were already on a downhill schuss in many areas even before tax reform diminished the advantages of absentee ownership and caused new price drops of near free-fall velocity. Lofty lairs from Maine to California now sell for 20% to 50% off the original purchase price. Among the worst hit are such overdeveloped resorts as Sugarloaf in Maine, Sugarbush in Vermont, Utah's Park City and Colorado's Keystone and Teluride. Two-bedroom units have $75,000 to $125,000 price tags, as much as a 50% drop in five years, perhaps partially because the stiff maintenance charges of up to $325 a month are still intact. Advises Scott Bowie, a real estate appraiser in Aspen: ''You have to plan to use the place yourself. Even with rental income, most places won't pay off just as an investment.''