SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549

                               Form 8-K

          Current Report Pursuant to Section 13 or 15(d) of
                      The Securities Act of 1934


  Date of Report (Date of earliest event reported) August 7, 1996

                    Blue Ridge Real Estate Company
                       Big Boulder Corporation
        (Exact name of registrant as specified in its charter)



                  0-28-44 (Blue Ridge)       24-0854 342 (Blue Ridge)
  Pennsylvania    0-28-43 (Big Boulder)      24-0822326 (Big Boulder)
  -------------------------------------------------------------------
  (State of other (Commission File Number)   (IRS Employer
  jurisdiction of                            Identification Number)
  incorporation)

       P. O. Box 707, Blakeslee, Pennsylvania     18610-0707 
       -----------------------------------------------------
        (Address of principal executive offices)   (Zip Code)

  Registrant's telephone number, including area code: (717) 443-8433

  Not applicable                                                    
    (Former name or former address, if changed since last report)


  Under a Security Combination Agreement between Blue Ridge Real
  Estate Company ( Blue Ridge ) and Big Boulder Corporation ( Big
  Boulder ) (referred to as the  Corporations ) and under the by-
  laws of the Corporations, shares of the Corporations are combined
  in unit certificates, each certificate representing the same
  number of shares of each of the Corporations.  Shares of either
  of the Corporations may be transferred only together with an
  equal number of shares of the other Corporation.  For this
  reason, a combined Blue Ridge/Big Boulder Form 8-K is being
  filed.  Except as otherwise indicated, all information applies to
  both Corporations.








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  Item 8.   Change in Fiscal Year.

       At the July 24, 1996 meeting of the Board of Directors of
  the Corporations (the  Boards ), the Boards approved a change in
  the fiscal year ends of the Corporations to March 31 from May 31. 
  Such change is to be effective for each of the Corporation's 1997
  fiscal year.  As a consequence, the Corporations will file (i) an
  annual report on Form 10-K for the twelve month period ended May
  31, 1996 and (ii) a transition report on Form 10-K for the period
  June 1, 1996 through March 31, 1997.

                              Signatures

       Pursuant to the requirements of the Securities Exchange Act
  of 1934, each of the Corporations has duly caused this report to
  be signed on its behalf by the undersigned hereunto duly
  authorized.


                                     Blue Ridge Real Estate Company


  Date: August 7, 1996          By:  /s/  Gary A. Smith    
                                     Gary A. Smith
                                     President

                                     Big Boulder Corporation


  Date: August 7, 1996          By:  /s/  Gary A. Smith             
                                     Gary A. Smith
                                     President





















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