Steamboat Springs Real Estate and Community News Blog

Stagecoach, CO Lot Owner in Meadowgreensays Bring Offers

Thu, 29 Oct 2009 10:20:40 -0500

Best Land Offer! The seller of this lakeview lot in Meadowgreen @ Stagecoach wants to see offers.

Land sales in Stagecoach have picked up, with one on Shoshone Way in South Shore going under contract today.

This .65 acre lot has public water and sewer, paved roads, utilities to the lot line, and spectacular views.

It was originally listed at $149,000, and is now being offered at $89,000.

Call 970.819.6372 to see why this is one of the best values for Stagecoach Land right now.

One Steamboat Place Photos

Tue, 27 Oct 2009 22:00:35 -0500

I was up at the Steamboat Ski Area base the other day and was amazed at the transformation now that One Steamboat Place is almost completed.

One Steamboat Place fractional and whole owners will start closing on their residences in November. (If you’d like more information about owning at OSP, click here.)

The new plaza in front of One Steamboat Place will house the new Steamboat Ski School ticket office, a high-end ski shop, and a small market. The small pulse gondola connecting Wildhorse Meadows will terminate here, too.

Dining at the Truffle Pig, One Steamboat Place’s high-end restaurant, will have to wait as it is not scheduled to open this ski season. (So book your reservations for Cafe Diva now.)

Search all Steamboat Ski Condos for sale here.

Steamboat Gondola Building with One Steamboat Place addition

One Steamboat looking towards the Gondi Bldg and Sheraton

One Steamboat Place at Gondola Square

View of One Steamboat and Dulany from Market on the Mountain

One Steamboat Place Plaza--New Ski School Ticket Office on left

One Steamboat Place (ski mountain side)

USA Today Profiles Steamboat Springs, Colorado

Tue, 27 Oct 2009 21:57:43 -0500

USA Today published an article about Steamboat Springs recently entitled, “Still a ski town, but with so much more”.

Anyone who has spent time here in Steamboat knows it’s a great place to visit. It’s an even better place to live–even if you can only manage part time.

Some of the reasons people love living here are, of course, the snow and the less-crowded ski mountain, although locals will tell you it’s the true sense of community, the real town, the off-the-beaten-path location (Steamboat isn’t an exit off an interstate highway–you have to want to be here), and the people from every corner of the world.

The people are laid-back and non-pretentious, and are just as likely to wear jeans made by Carhartt than True Religion.

Read the entire article here.

USA Today article about Steamboat from Oct 23, 2009

Steamboat Tops List Again for #1 Family Resort in West

Sun, 04 Oct 2009 11:24:20 -0500

Steamboat #1 in Ski Magazines for Families

Steamboat Ski Resort

Steamboat ranked #1 for the best Family Resort in the West by Ski Magazine, #1 for Best Trees and #2 for Best Snow in Skiing Magazine

Other Steamboat resort rankings in Ski Magazine are (click here for the full list) :

Snow– #8
Lodging — #9
On Mountain Dining — #10
Terrain Parks — #10

Come to Steamboat and see why our world-class resort is the best.

Visit Steamboat's #1 Real Estate Blog.

The Yampa River Botanic

Sun, 04 Oct 2009 10:59:56 -0500

The Yampa River Botanic Park is a must-see if you are in Steamboat during the spring, summer, or fall. It’s located between downtown Steamboat and the Steamboat Ski Area and can be accessed from the Core Trail or Pamela Lane (turn by Freshies and Mt. View Car Wash, then turn left on Pamela Lane).

The Botanic Park is the ever-changing display of perennials that always look good.

The Steamboat Springs growing season is short–56 days–because we live in a valley where cold air can settle. In fact, Leadville (at 10,430 feet) has a longer growing season than we do.

There is no better place to enjoy the ponds, birds, and fragrant flowers. During the summer, you’ll find Strings in the Mountains performers playing at noon on Thursdays. Hundreds of people gather on the grass overlooking the pond and eat their lunch while enjoying the free concerts.

If you are riding bikes on the Core Trail, stop for a quick trip through the Botanic Garden to see what’s blooming or to spot a hummingbird darting around in the honeysuckle blossoms. Town volunteers meet weekly to keep the gardens in top shape, and they post what plants are at their peak on a blackboard right inside the Core Trail entrance.

Think About Selling When you Buy Steamboat Real Estate

Sun, 04 Oct 2009 10:54:25 -0500

There is a lot of real estate inventory available here in Steamboat Springs. Whether you are looking at land, Steamboat luxury homes, or Steamboat ski condos or townhomes, there is more inventory available than there has been in years.

So what do you buy with all those choices?

The old real estate adage “location, location, location” is important, but here are a few others you might want to consider:

A garage, ideally with inside access to the house, to keep your car snow free during Steamboat winters
Wood and tile flooring (again, it’s a snow and mud-season thing)
A newer kitchen and bathrooms, or ones that can be updated
A home located away from busy streets with double yellow lines
A neutral color scheme and updated lighting fixtures.
Good natural light from plenty of windows and a good site plan.
Minimal levels and steps. Some older properties require going up or down a half a flight of stairs for each level.
Bathrooms on each level.
Plenty of storage for your kayaks, skis, bikes, and other toys.

If you would like more information about what Steamboat properties are the best values, contact us or call 970-819-6372. There are plenty of Steamboat properties on the market, and only a fraction of them are Steamboat Best Buys.

Search all real estate in Steamboat Springs here.

Steamboat 1st Time Home Buyers–Time is Running Out

Sun, 04 Oct 2009 10:50:06 -0500

The American Recovery and Reinvestment Act of 2009 allows first-time Steamboat homebuyers to get up to an $8,000 tax credit if they purchase a home before Dec. 1, 2009. The tax credit does not have to be repaid as long as the property is not resold within three years.

$8000 is a lot of money–it can get you a brand-new kitchen and appliances in a Whistler Village Townhome or new furniture and accessories in a Sunray Meadow condo with garage .

When do I need to purchase my first Steamboat home to get the $8000 tax credit?
You have to close before Dec. 1, which means you better get going if you want to buy a Steamboat home or

What is a Steamboat Springs “first-time homebuyer”?
The law defines a “first-time homebuyer” as a buyer who has not owned a principal residence for 3 years.

What are other requirements to qualify?
All U.S. citizens who file taxes can get the credit as long as your income is less than $75,000 a year for individuals and $150,000 a year for couples.

Can I use the tax credit toward my down payment or other closing costs?
Yes. Buyers using an FHA-approved lender can sell their tax credit to the lender and use the proceeds to immediately apply the tax credit to any down payment above the minimum down payment of 3.5% required with FHA-insured mortgages.

See all Steamboat homes, townhomes, and condos under $300,000 for sale in Routt County.

Visit Steamboat's #1 Real Estate blog.

Steamboat First Time Homebuyers: Don't miss out on $8000

Tue, 01 Sep 2009 17:04:43 -0500

Time is running out for Steamboat first time home buyers who want to take advantage of the $8000 tax credit.

Buying a house takes time, and first-time homeowners need to close by November 30th in order to get the $8000 home buyer incentive. And if you haven’t checked, November 30th happens to be a Monday. The Monday after Thanksgiving. (Did anyone in government even look at the calendar before picking that deadline???)

Counting back the weeks, here is what you need to consider if you are thinking of purchasing your first home:

With financing taking up to 45 days, you need to count backward on your calendar and leave a healthy 45-60 days to close on your home. You want to make sure you aren’t sweating on the 30th trying to transfer the deed due to one glitch or another. Because if you close on the 1st, you don’t get the $8000.

Also, you need to add a week or two in for negotiations with the seller. If you are buying a short sale property, add a couple of months.

Finally, you’ll want plenty of time to look at places and find the perfect one for you.

Add up the time and you can see that you better get moving (pun is intended) if you are going to buy your first home this year.

Call me at (970) 819-6372 or contact me to find out if purchasing a home is right for you.

Certified Distressed Property Expert Certified

Tue, 01 Sep 2009 17:03:14 -0500

As a Steamboat Realtor trying to stay ahead of the trends, I recently completed my Certified Distressed Property Expert certification to have a better knowledge of Steamboat area short sales and how to help homeowners avoid foreclosure.

If you are a Steamboat property owner who is behind on your payments and searching for options, selling your home in a short sale may be what you need to get out of debt and move forward.

Certified Distressed Property Experts (CDPEs) have reported a 49 percent decrease in the average time to complete a short sale after achieving the CDPE Designation, according to a new survey from the Distressed Property Institute. Before becoming a CDPE, the average time for these agents to close a short sale was 53.01 days, compared to 27.26 days after becoming a CDPE.

“No other real estate designation in the country can claim these results,” said Alex Charfen, co-founder and CEO of the Institute. “CDPEs are making a clear and definable difference in the real estate market by assisting distressed homeowners to stay in their homes or, when this is not possible, by helping them sell through a short sale.”

Many people behind on their mortgage (and nationwide it is 1 in 10 households) think foreclosure is their only option. Very few talk to a Realtor who has been trained in short sales about their options to save their credit while selling their house.

A successful Short Sale can impact a credit score by as little as 50 points if all other payments are made. The effect of a short sale on credit can be as brief as 12-18 months vs. at least 10 years for a foreclosure. Foreclosures also affect credit by lowering a score by 250-300 points.

The qualifications for a short sale include any or all of the following:

Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Steamboat saw a huge price increase and a record real estate year during the last year of free lending. Those mortgages are now being re-set and more people are falling behind.

The short sale process requires a lot more work than a straight sale, but having people able to get out from under the burden of debt while maintaining their credit score makes it worth it.

Please call Eliese at (970) 819-6372 to discuss listing your Steamboat home as a short sale.

Read First Before Buying a Steamboat Ski Condo

Tue, 01 Sep 2009 16:58:28 -0500

Steamboat real estate activity has definitely picked up. I don’t know if interest is back because the papers are saying the recession is over or if people have regained their senses, but the buyers are back.

If you are thinking about purchasing a Steamboat condo or townhome as a second home, here are some things to consider:

Are you going to use it in the winter or do you want year-round local activities? What are those other activities (fly fishing, golf, hiking, biking, etc.) and how accessible are they to your location?
Will you use it enough and keep it long enough (at least 3-5 years) to justify the purchase compared to renting a condo?
How many amenities and on-site management do you want? Are you looking for shuttle service, pools, hot tubs, and tennis? Or are you okay with the bus route and a trip to the Old Town Hot Springs?
Do you want to be close to shopping, restaurants, and other amenities?
How close do you want to be to the ski slope? Are you okay hauling your gear on the shuttle or bus, or do you want to hand your skis to the ski concierge at a ski-in, ski-out location?
And the Biggie: How much do you want to spend? You’ll find huge differences in the available quality/locations in the marketplace.

For more Steamboat Springs real estate information, contact us.

80 Acre Colorado Hunting Retreat--Must See This One!

Wed, 24 Jun 2009 12:03:25 -0500

This 80 acre parcel with live water, pine and aspen groves and a great 3 bedroom log home must be seen to be appreciated.

You'll love the incredible views from the ridge and walking through the aspen and pine groves. Five springs and hundreds of feet of Trout Creek frontage bring abundant wildlife including elk, deer, bear, and beaver.

Bring horses, ATVs, or snow machines. Property borders BLM land for access to hundreds of additional acres of spectacular hunting and outdoor recreation.

Priced at $750,000 for a quick sale.

Click here for details or scroll down for video of the land.
Please call (970) 819-6372 for more information or to schedule a time to walk the property.

Generate Cash from Your Steamboat Vacation Home--Without Selling

Wed, 24 Jun 2009 11:01:47 -0500

Steamboat Springs second homeowners used to fall into one of two categories: those that use their Steamboat vacation homes strictly for personal use, and those that see their vacation property as an income-producing investment.

The current economic downturn has blurred the line as more people look to generate extra cash from their second home. With buyers demanding discounts, Steamboat vacation home owners looking to sell have no choice but to accept a discounted price for their property or wait out the market.

Here are ways to generate cash from your vacation home if you don’t want to sell:

Rent

If you rent your Steamboat property less than 14 days a year, you don’t have to report the income. Rent your condo or home over Christmas week or President’s weekend for the most $$$.

If you rent more than 14 days a year, not only will you have an income stream, but you can take tax write-offs you wouldn’t otherwise be entitled to. Be sure to consult your tax advisor or CPA.

For hard-core landlords: Rent your Steamboat condo or townhome yourself through sites like VRBO.com and save the management fees.

Be Charitable and Save on Taxes

Donate a week or two of usage to your favorite charity and deduct the market value for the rent. If you don’t have a favorite in your hometown, you can use sites like VacationHomesForCharity.org.

For hard-core donors: Donate the entire Steamboat Springs property to charity, keep a life estate, and get tax benefits.

For hard-core Steamboat ranch owners with substantial acreage: Set up a conservation easement or sell your development rights. Your ranch land will never be developed and you’ll get tax benefits and/or cash.

Bring in a Partner:

Find a partner who likes coming to Steamboat as much as you do, and you can share usage–and costs. Partners don’t have to be 50/50. They can be 75/25 or even 90/10, whatever fits your situation. Consult your attorney to iron out the details.

Using your vacation home to generate extra cash might be the difference between keeping your place and having to sell it. If you do need to sell, please call (970) 819-6372 to discuss your options. We look forward to hearing from you.

Please visit SteamboatHomeSales.com, Steamboat's #1 Real Estate Blog and Home Search

New Colorado Law for Sellers Goes into effect July 1

Wed, 24 Jun 2009 10:57:19 -0500

If you have your home listed for sale or are thinking of selling, you need to be aware of a new law that will go into effect on July 1, 2009.

Colorado law HB-1091, requires all existing single-family and multi-family housing units offered for sale, transfer or rent, including all new residential construction to have carbon monoxide detectors.

Carbon Monoxide Alarms must be:

Installed in all homes with a fuel-fired heater or appliance, a fireplace, or an attached garage;
Installed within 15 feet of the entrance to each room lawfully used for sleeping.

A Carbon Monoxide Alarm:

Detects Carbon Monoxide and produces a distinct, audible alarm;
Conforms to standards recognized by independent product-safety testing laboratories;
Is battery powered, plugs into a home’s electrical outlet and has a battery backup, or is connected
to an electrical system via an electrical panel;
May be combined with a smoke detecting device if the combined device has signals that clearly
differentiate between the two hazards.

Click here to learn more about Steamboat Springs Real Estate.

Stagecoach, Colorado Sales Activity for April, 2009

Wed, 20 May 2009 22:16:32 -0500

Stagecoach, Colorado real estate sales are picking up. Even though foreclosures and short sales still account for the majority of activity, non-distressed homes are also going under contract.

The average list-to-sold ratio in Stagecoach is 94%. When you consider that the homes were priced well to begin with, getting an additional 6% discount makes for some incredible values.

First time buyers are realizing that prices are getting to the point that they can buy a home for the same amount they are paying in rent. Buyers who have not owned a home in three years can get a $8000 tax credit if they close before December 1.

Search all Stagecoach homes here, or contact us about purchasing a home in Stagecoach.

There were no land sales in April.

Stagecoach Colorado Sold Real Estate

ADDRESS	Neighborhood	BR	Baths	Sq Ft	List Price	Sold Price
Sagebrush Circle	Red Hawk Village	Three	Three	1951	$312,500	$290,000
Sagebrush Circle	Red Hawk Village	Three	Three	1951	$315,000	$300,000
Total Listings					Avg	Avg
2					$313,750	$295,000

Stagecoach, Colorado Real Estate- Pending Sales

ADDRESS	Neighborhood	BR	Sq Ft	List Price
RCR 16 Unit 5, Bldg 1	Stagecoach Townhomes	Two	864	$160,000
Navajo Trail	South Shore	Three	1820	$249,900
Sagebrush Circle	Red Hawk Village	Three	1755	$294,900
Sagebrush Circle	Red Hawk Village	Three	1951	$315,000
Broken Talon Way	Eagles Watch	Two Plus	1872	$499,900
Eddy Ct.	Middle Creek Village	Three	1909	$529,900
Total Listings				Avg
6				$341,600

Northern Routt County Colorado Photos

Wed, 20 May 2009 22:11:44 -0500

North Routt is beautiful any time of year although most visitors come in the summer to boat, fish, camp, and hike.

On your way up CR 129, stop at the Clark Store to pick up a sandwich or extra marshmallows for the camp fire before heading up to Steamboat Lake State Park or Pearl Lake State Park.

You’ll find camp sites and some cabins at Steamboat Lake or yurts at Pearl Lake (be sure to call ahead as the campgrounds may be closed due to the removal of dead lodgepole pines), or you can pass the quirky little town of Hahn’s Peak and explore the Routt National Forest.

Here is a sampling of photos I've taken in North Routt County, Colorado in each of the seasons.

Northern Routt County Colorado Photos

Wed, 20 May 2009 22:10:25 -0500

North Routt is beautiful any time of year although most visitors come in the summer to boat, fish, camp, and hike.

On your way up CR 129, stop at the Clark Store to pick up a sandwich or extra marshmallows for the camp fire before heading up to Steamboat Lake State Park or Pearl Lake State Park.

Here is a sampling of photos I've taken in North Routt County, Colorado in each of the seasons.

Steamboat Base Area Improvements Get the Green Light

Wed, 20 May 2009 22:06:40 -0500

Recession? What recession?

Approval has been granted for a new promenade around the Steamboat Ski Area base area highlighting Burgess Creek and a new 5-star luxury development, most likely a Ritz Carlton.

The best part? The promenade and Burgess Creek diversion will start this summer, making Steamboat Springs one of the nicest ski areas once we come out of this recession.

The promenade will create a walkway that runs in front of the new One Steamboat Place, Gondola Square, the Sheraton, Torian Plum, and ultimately the new Ritz-Carlton at the old Thunderhead Lodge site. Burgess Creek, which currently runs underground through pipes, will be daylighted and turned into a rushing stream summer visitors can enjoy.

Steamboat City Council also approved the new 5 star redevelopment at the Thunderhead Lodge site, although Atira Group won’t start construction right away.

Ritz Carlton has signed a letter of intent to be the operator of the luxury development. It will have about 100 residential units plus a few shops and restaurants, and is estimated by one attorney to be worth $290 million in sales volume.

What does that mean for Steamboat real estate buyers now? You can get a drop-dead-gorgeous furnished 4500 sq. ft. luxury log home for $1,150,000 or ski-in, ski-out real estate for $600 a sq. ft from a few motivated sellers who can’t wait around for the rebound in prices.

It’s like getting new high-end, luxury real estate at a 30% off sale.

There are some incredible deals with resale properties right now. New construction prices are holding, but you can get a few more perks with new construction than you could a year ago.

Is It Time to Take Advantage of the Buyers Market in Steamboat Springs and Buy Real Estate?

Wed, 20 May 2009 22:04:51 -0500

Sitting on the fence? Trying to figure out if it is time to buy Steamboat real estate?

I was at a real estate investment class recently, and the instructor asked, “How many of you think real estate prices in Steamboat will be higher in five years?“

Every hand went up.

Then he asked, “How many of you think the stock market will be higher in five years?”

Only a few hands went up.

There are certain buyers who were made for this Buyer’s market. They are:

First time homeowners. Get $8000 just for buying before December 1st. For free. That’ll buy furniture, appliances, carpet, or whatever you want to make your first home truly yours while you build equity and experience the pride of ownership.

Buyers who are financing. Rates are super low, and experts say they are headed higher. With 5% loans available–even for jumbo loans–you can lock in some of the lowest rates in decades.

Move-up buyers who don’t have to sell their first home. You can take advantage of today’s lower prices while you wait for the rebound to sell your other home. If you sell your primary residence within 3 years, you get the $250,000/$500,000 tax exemption. (As always, consult your tax advisor.)

So are you going to stay on the fence or are you going to take advantage of this buyer’s market?

Maybe it’s time to explore your options.

Please contact us or call (970) 819-6372 discuss whether buying in Steamboat right now is a smart move.

Steamboat Springs Real Estate Market Report, March 30-April 19, 2009

Sun, 26 Apr 2009 13:17:39 -0500

Real estate activity in Steamboat Springs continues to increase, with 13 Steamboat residential properties sold and 21 going under contract in the last 3 weeks. More properties going under contract each day has pushed the number of pending sales to a level we haven’t seen in months. The Steamboat real estate buyers are coming back.

Foreclosures, distressed properties, and well-priced properties make up most of the homes that are selling in Routt County.
They include:

2 foreclosed or distressed homes in Red Hawk Village at Stagecoach,
2 Steamboat single family foreclosures on Caribou and Red Hawk Ct. (multiple offers)
a Longview townhome that was reduced from $650,000 to $475,000,
a mountain townhome reduced to $399,000 (with multiple offers)
an 8500+ sq ft luxury home in Strawberry Park that was reduced one million dollars and sold at $2,500,000.

Search all available Steamboat Springs and Routt County real estate here. All the properties, all the details.

Here are the specific property details:

Steamboat Springs and Routt County RESIDENTIAL Real Estate - Sold

ADDRESS	BR	Full and 3	Tot Sq Ft	List Price	Sold Price
The West fractional ownership Mt Werner Circle	One	One	515	$21,900	$18,500
Oak Creek, CO condo Sierra View, Oak Ridge Circle	Two	Two	1052	$199,000	$185,000
Howelson Place 703 Lincoln Ave.	One	One	993	$221,369	$221,369
Red Hawk Village Sagebrush Circle	Three	Three	1951	$315,000	$300,000
Walton Village Townhomes Sparta Plaza	Three	Two	1258	$350,000	$315,000
Ski Inn CondoSki Trail Lane	Two Plus	Two	1030	$399,900	$349,900
Hayden, CO Single Family HomeRCR 53	Four	Two	4872	$430,000	$430,000
Steamboat II Single Family NORTHSTAR PL	Three	Two	1771	$489,000	$450,000
Downtown Steamboat Springs Uncochief Circle	Four	Three	2549	$795,000	$775,000
Torian-Creekside Ski-in, Ski-out Condos Ski Time Square Drive	Three	Three	1642	$1,195,000	$950,000
Bear Lodge @ Trappeurs Crossings	Three	Three	1671	$1,169,700	$1,050,000
Creek Ranch Single Family Bench Lane	Five	Four	5260	$1,780,000	$1,550,000
Strawberry Park Luxury home Tatanka Trail	Five Plus	Five or More	8536	$2,850,000	$2,500,000
Total Listings				Avg	Avg
13				$785,836	$699,597

Steamboat Springs and Routt County RESIDENTIAL Real Estate- Pending

ADDRESS	BR	Full and 3	Tot Sq Ft	LP
Wagon Wheel Condos, Stagecoach CO RCR 16	Two	One	864	$160,000
Walton Village Condos, Athens Plaza	One	One	565	$205,000
Single Family, Toponas CO HWY 134	Two	One	1161	$205,000
South Shore at Stagecoach Single Family Navajo Trail	Three	Two	1820	$249,900
Red Hawk Village at Stagecoach Sagebrush Circle	Three	Two	1755	$294,900
Sunray Meadows Condos Columbine Drive	Two	Two	1005	$319,000
Red Hawk Village at Stagecoach Sagebrush Circle	Three	Two	1643	$320,000
Sunray Meadows Condos Columbine Drive	Two	Two	1125	$340,000
Ski Time Square Condos Ski Time Square Drive	Two Plus	Two	1056	$349,000
Craig, CO Single family W 9th St.	Three Plus	Three	3288	$375,000
Oak Creek, CO Single Family Oak Ridge Circle	Four	Two	2314	$385,000
Steamboat Mountain area Single Family Red Hawk Ct.	Three	Two	2040	$409,900
Steamboat II Subdivision Steamboat Drive	Three	Two	1200	$429,500
Longview Townhomes, Fish Creek area Parkview Drive	Three	Two	1780	$475,000
Storm Meadows Condos Storm Meadows Drive	Two	Two	880	$567,999
Fish Creek Falls Area Single FamilyCaribou	Six	Three	3967	$599,900
Torian Plum Condos Ski Time Square Dr	Two	Two	1249	$749,000
Tree Haus Subdivision Single Family Mt. Werner Rd.	Three	Two	2412	$750,000
Emerald Lodge at Trappeurs Crossing Medicine Springs Drive	Four	Four	1879	$998,000
Catamount Lake Luxury Cabins Lakeshore Trail	Three Plus	Three	2370	$1,595,000
The Porches Luxury Homes Indian Summer Drive	Four	Four	3903	$2,628,630
Total Listings				Avg
21				$590,749

Top 3 Reasons To Buy a Second Home in Steamboat, Part 2

Sun, 26 Apr 2009 13:12:54 -0500

Read Is It Time to Buy a Steamboat Vacation Home? (Part 1) here.

There are some serious bargains in Steamboat real estate right now.

A recent NAR (the National Association of Realtors) survey reports that the median sales price of a vacation home nationwide is down 23%. I’m not sure what the actual percentage is in Steamboat, but I’ve been showing some properties lately that are listed at prices 10-15% below what they sold for in 2006. One was a stunning must-see luxury duplex with a Rollingstone Ranch golf club membership priced 25% less than the smaller one next door.

Combine the low prices with with the current low interest rates, and you can get a nicer Steamboat property than you probably thought you could.

While prices might go lower, interest rates are probably as low as they are going to go.

Steamboat real estate is a solid long-term investment.

The NAR survey says speculator sales are down from 29% to 16%. People who are buying in Steamboat want the Colorado resort lifestyle, not the ability to flip their place in a year and make money. The buy-and-hold folks are the backbone of our community. They buy a place to share with t

Read Invest Like the Pros in Steamboat real estate.

You Can Rent your Vacation Home

Whether you rent your Steamboat Springs vacation home yourself or use a property management company, you can recoup some of the expenses related to owning a second home. Rental income will generally cover HOA’s and possibly utilities. Depending on the property, the management company, the number of days your property is rented and the location, the rental income could be significant.

Renting by owner through sites like vrbo.com is an alternative for those who prefer a more hands-on approach to renting.

Read Top 7 Ways To Maximize your Rental Income

Avoiding the “herd” mentality to buying real estate will pay off in years to come. Once buyers start coming back into the market (and it’s starting to happen here in Steamboat), the inventory will go back down and the prices will go back up. The window of opportunity will close quickly, and plenty of buyers will be wishing they had bought in the spring of 2009.

If buying real estate in Steamboat is something you’ve been considering, you owe it to yourself to come on out and look at available properties.

Search ALL Steamboat area and Routt County real estate here.

Call us at (970) 819-6372 contact us to learn more about the Steamboat real estate market or look at property.

Should You Buy a Vacation Home in Steamboat Now?

Sun, 12 Apr 2009 16:27:43 -0500

After a dark winter of negative headlines and a lot of fence sitting by Steamboat real estate buyers, April is bringing buyers out into the sunny spring skies. I don't know if people just got tired of putting off their dreams or the future seems brighter, but more real estate contracts are being written this month than at any time in 2009.

If you are one of those fence sitters who want to buy but keep thinking of reasons not to, here is some food for thought from RIS Media:

According to Christine Karpinski, the National Association of Realtors® (NAR) 2009 Investment and Vacation Home Buyers Survey suggests that the iron is sizzling hot-and if you’re going to strike, the time is now.

“A few years ago when prices were escalating rapidly, people were kicking themselves for not having bought earlier when real estate was far more reasonable,” notes Karpinski, director of Owner Community for HomeAway.com and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment. “Well, in 2012 or so, people will look back on 2009 as another missed opportunity.”

Although the average price for Steamboat homes, condos, and land were all up in 2008, the 2009 trend has been lower prices. The real estate getting offers has been discounted to a point where buyers feel like they are getting real value. For example, at Eagle Ridge Lodge, there is a condo under contract at $435/sq. ft. while the other active listings are in the $470-$620 price/sq ft range.

More Steamboat homes and condos on the market + Real estate sales volume way down = Serious buyer's market.

Someone once said "they aren't making any more land these days", and Steamboat resort real estate--along with all the other Colorado resort areas--fits into that category. Some resort counties are up to 80% public land including National forest, BLM land, and state land. Include the private land placed in conservation easements and land where the development rights have been sold, and you can see why Colorado resort real estate will continue to appreciate over the long term.

People want to live here. Whether they are the Baby Boomers buying a vacation home as a future retirement home, the Gen X'ers who want to live in the mountains and telecommute, or the Gen Y'ers who have been coming with their families for years, real estate should remain a healthy investment after we get over this current economic hump.

Call (970) 819-6372 to talk about the current Steamboat market and what properties in Routt County are priced to sell, or Search all Steamboat real estate currently on the market here.

One Steamboat Place Model Opens--See Photos

Sat, 28 Mar 2009 20:14:17 -0500

One Steamboat Place at the base of the Steamboat Ski Area has opened its model unit and it looks spectacular.

The 3 and 4 bedroom units are large and spacious with separate areas for the master bedroom and guest bedrooms. They are decorated with splashes of red for a look we haven't seen before in Steamboat Springs. Call it urban western or edgy mountain chic, it looks great.

The luxury whole ownership and fractional ownership condos at One Steamboat are almost sold out. Only one or two whole ownership luxury ski-in, ski-out condos are available and a handful of 1/8th and 1/12th fractional units are available.

Whole owners and 1/8th fractional owners can use the Tom Weiskopf designed golf course at Catamount, one of Steamboat's most exclusive golf communities.

1/12th fractionals are available for owners looking to spend 2 weeks in the winter and 2 weeks in the summer in Steamboat Springs, with other times available on a space-available basis.

If you would like to tour the model unit or are considering purchasing one of the new developments in Steamboat Springs like One Steamboat Place, please call (970) 819-6372 or email me to set up a showing.

Click here to see photos of One Steamboat Place over the last two years.

Steamboat Condo Financing--What You Need to Know To Buy

Sat, 28 Mar 2009 20:11:37 -0500

Steamboat Springs has several new condominium projects like Howelson Place, Alpenglow, the Olympian, Edgemont, Trailhead Lodge, One Steamboat Place and the Victoria coming on the market this year and next year.

As of March 1, Fannie Mae has made it harder to get financing.

Fannie Mae is no longer guaranteeing mortgages in condo buildings where fewer than 70% of condos have been sold. (They used to guarantee mortgages where 51% of units were sold.) This new rule will affect the new Steamboat developments because none of them are more than 70% sold.

Trailhead Lodge comes closest, with 70% of the units presold, although some of them may not close due to tightening credit standards. Owners who cannot close will forfeit their deposits of 10-20% of the purchase price.

Fannie Mae also no longer backs loan in developments where 15% of owners are delinquent on HOA fees or where more than 10% of condos are owned by one person (ex.--a straw man for the developer.)

None of the new Steamboat developments are sold out, but there are not a lot of units available. There are less than 90 condos available in all the downtown properties combined, and less than 50 if you count up all the unsold mountain condominiums at the Steamboat ski area.

(There are around 400 new and resale condos available in the entire Steamboat Springs MLS. They range from $133,000 studios to $4,995,000 ski-in, ski-out luxury condominiums)

Compare that with the thousands and tens of thousands of vacant condos available around the country--especially in the foreclosure hot zones of Florida, Nevada, California, and Arizona--and you can see why Steamboat condo buyers are being penalized by the errors of over building around the country.

What does this mean for new Steamboat developments?

If you have cash, ignore all this, buy your condo, and love living the good life in Steamboat Springs.
Ask your Realtor about developer financing. Some of the projects have financing in place through the lender who did the construction financing. You may even get an excellent rate, like the 2.5% available at Bear Lodge.
Some units in some buildings--like Howelson Place--have seller financing. They'll even finance 100% to qualified buyers until this restrictive credit market passes.
Expect the new developments to get exemptions from the new rules. Howelson Place and Trailhead Lodge are examples of new condo developments where you can get financing.

Once again, the Steamboat real estate market is being affected by conditions in the "bad apple" markets where most of the credit problems have originated.

Condotels were the first to be affected, and in our resort market, most of our condominium developements are considered condotels by the "suits" that define condotels. Jumbo mortgages are also an issue--even though the majority of Steamboat properties are worth more than that arbitrary $417,000 loan amount, you'll pay 1-1.5% more for a loan greater than $417,000. (Bank of America is now marketing jumbo loans at reasonable rates.)

If you are considering purchasing a new Steamboat Springs condominium--and you should, because the selection and prices are better than they have been in years--call us at (970) 819-6372. See why it could be a good time to buy a Steamboat Springs condo, even as Fannie Mae tightens the purse strings.

Trailhead Lodge in Steamboat Temporarily Reduces Prices

Sun, 08 Mar 2009 22:23:11 -0500

Wildhorse Meadows has temporarily reduced the prices of several units at Trailhead Lodge to the pre-construction pricing available in the summer of 2007. If you've put off buying because you wished you bought at the selection event where 70% of the Trailhead Lodge units sold, this is your opportunity.

Prices for a 1 br + den have been reduced to $780,000, an 11% discount.

Also available are 2 br, 2 br + den, 3 br, and 3br+den units. Prices range from $940,000-$2,325,000.

Trailhead Lodge is one of the newest real estate developments in Steamboat Springs that will ultimately connect to the ski area with its own gondola.

If you would like to tour Trailhead Lodge and see the model, please call me to arrange a showing at (970) 819-6372.

Trailhead Lodge will be finished this summer, so if you are in the market for new construction in Steamboat Springs, it is worth looking at Trailhead Lodge.

To see all the available Steamboat condos and townhomes built after 2007, click here.

Read more Steamboat Real Estate News at SteamboatHomeSales.com, Steamboat's #1 real estate blog.

Must See Home for Sale in Clark, CO at an Affordable Price (For Routt County)

Fri, 27 Feb 2009 22:24:19 -0600

This three bedroom home north of Steamboat Springs on Neptune Place in the Steamboat Lake Subdivision is only 3 years old and is close to two state parks (Steamboat Lake State Park, Pearl Lake State Park) and the Routt National Forest. This home is move in ready, and the sellers are offering a $2000 buyer incentive to use for anything--closing costs, a deck to enjoy summer barbeques, new furniture, or maybe a snowmobile to have fun in North Routt.

Learn more about Steamboat real estate at SteamboatHomeSales.com.