Monthly Archives: July 2011

Tamarack Resort’s famous “Le Chateau des Arbres” custom home has reduced it’s price point an incredible 72% of it’s original price!  Once valued at $5.5M, this house is now available for only $1,590,000.    This 4BR, 4.5 BA 5,000 SF custom home  is located on .87 acre and is bordered by Poisson Creek  and the USFS.  No corners were cut on this magnificent home, and it still comes completely furnished.  Check out all of the details under the Featured Listing on my home page.

According to a report by a local title insurance company, new Notices of Default (NOD – an early step in the foreclosure process) this past month were down to it’s lowest numbers since January 2008.    Valley County is down 59% in new NOD notices in this past Jan-July period from the same period in 2009 and down 24% from the same period last year.   Closer to home, this is the first NOD list to come out since January 2008 with NO new Tamarack properties included.    What does this mean for buyers?  Demand for distressed properties is getting greater than the supply.  We are seeing stabilization of the market and prices back on the rise in Tamarack Resort.  So if you were thinking about purchasing, now is the time.   Don’t be discouraged if you think you “missed the boat” on buying at the rock bottom price.  However, don’t let it happen AGAIN by missing out on the current opportunities still available.  It’s simple SUPPLY vs DEMAND.

Bank wants to tear down two Tamarack Resort lifts

Valley P&Z to discuss demolition request tonight

“We think those things ought to be aired out in public.” —TMA attorney Stephen Lord

BY MICHAEL WELLS
The Star-News

Banc of America Leasing & Capital wants permission by Valley County to remove two Tamarack Resort ski lifts it owns, but resort homeowners are fighting back.

The Valley County Planning & Zoning Commission tonight will hear an appeal from the Tamarack Municipal Association.

The homeowners group wants Banc of America to have to go through the same permitting process to remove the lifts as Tamarack Resort did to build the lifts on the Buttercup and Wildwood ski runs.

Tonight’s P&Z meeting begins at 6 p.m. in the Valley County Courthouse in Cascade.

Banc of America had obtained a building permit in June from Valley County to begin dismantling the ski lifts, but Tamarack homeowners appealed the county’s administrative decision.

Banc of America estimates it lost $4.3 million on the lifts that have sat idle since the close of the 2009 ski season. The two ski lifts were not a part of this winter’s ski season operated by the Tamarack homeowners.

Banc of America plans to hire Highlander Ski Lift Services & Construction of McCall to remove the lifts when it gets approval from the county. The company installed the lifts for Tamarack Resort.

Removing the lifts will take eight weeks, so bank officials do not want to go through a more lengthy permitting process that could mean the lifts could sit on the mountain through another winter.

No Ownership Dispute

No one disputes that Banc of America Leasing & Capital owns the lifts, two of seven chair lifts that have been built at the resort.

But Tamarack homeowners want the matter aired in public rather than have the county issue a permit to remove the lifts.

“What’s good for the goose is good for the gander,” TMA attorney Stephen Lord said noting Banc of America should provide an environmental study, just as the resort did when it installed the lifts.

“We think those things ought to be aired out in public,” Lord said.

The bank not have a buyer for the ski lifts, B of A attorney Brad Goergen said in a letter to Valley County P&Z Administrator Cynda Herrick Friday.

The bank was in negotiations to sell the lifts in May and June with Resorts of the Canadian Rockies, which operates five resorts in Canada.

The proposed sale fell through due to Tamarack homeowners insisting on a longer public process to obtain a permit to remove the lifts, Goergen said.

The decision not to buy the lifts prompted Banc of America to remove the lifts on its own “since there are no negotiations to sell the lifts in place,” Goergen said. The company’s “only prospect for selling the lifts are to have them removed,” he said.

“(Banc of America Leasing & Capital) must remove its ski lifts in order to sell them and recover some of the approximately $4.3 million in damages it has suffered because of Tamarack’s default,” Goergen said.

“We’re protecting the interests of our homeowners,” TMA Executive Director Tim Flaherty said, noting the eight-week plan to remove the lifts could disrupt homeowners, golfers, mountain bikers and other recreationists at the resort.

TMA officials also want assurances that the removal of the lifts would not adversely affect wildlife in the area. There are bald eagle, osprey and red tail hawk nests in the Wildwood area, Flaherty said.

“From our standpoint, the rotor wash from the helicopters would wipe those nests out entirely,” Flaherty said. “Part of why we live here is for the wildlife.”

Tamarack homeowners understand they do not own the ski lifts, Flaherty said. However, the homeowners hoped Banc of America Leasing & Capital would be interested in selling the lifts to a new owner at Tamarack rather than remove the lifts.

FYI: AT THE P&Z HEARING ON THURSDAY, IT WAS DECIDED TO TABLE THE DISCUSSION UNTIL MONDAY, JULY 18TH

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