“Inquiring minds” want to know how many lots were sold by the developer in 2015! The answer to this question will make better sense if we take advantage of this opportunity to do some education on the history of the Village with those who share our vision.
In 1994, when Jim McCarty first approached the City of Show Low with a concept of the project, the real estate market was hot and it remained that way for many years. Unfortunately, and suddenly the market went cold. Many question what exactly happened; for an entertaining explanation read the book and/or see the movie The Big Short. Time has not been on the side of anyone who was holding large amounts of real estate at that time and unfortunately, Jim McCarty’s death coincided with the market crash in mid-2000.
The rapid growth in the area, which was taking place in the late 1990’s, suddenly came to a halt in mid-2007. Real estate developers couldn’t sell lots, homes or condos so they did a vanishing act and disappeared overnight. To date, the skeletons of those abandoned projects continue to haunt the White Mountains.
Fortunately, White Mountain Vacation Village was able to weather the storm and remain a viable and exciting project. However, it was still subject to the natural laws of the market and as a consequence, sales diminished. Making sense of market conditions can be difficult and lot sales in the White Mountains have never recovered to the 2006 levels. For example, a recent newsletter, regarding Torreon, noted that there were only 10 lot sales for 2015. This was the lowest number in the 17 years of the project’s existence.
In 2015, in order to “prime the pump” in the Village, the developer made the difficult decision to lower prices on the remaining lots to just under $10,000. This led to a banner year for sales in White Mountain Vacation Village. On December 31st the total count of sales for 2015 stood at a bountiful 19. Consequently, several current owners took advantage of the discounted prices and purchased additional lots. This enthusiasm speaks volumes about how people view the Village long term.
White Mountain Vacation Village is a beautiful, peaceful development nestled high in the pines. We should all be proud of this amazing community. Please let your friends and relatives know what a gem the Village has become and that the neighborhood embodies and reflects that beauty throughout the year.