Last year when prices were rising 5% a month, we had more buyers lined up than there were properties available. People thought nothing of upping their offers by 5-15% or more over the asking price just to get a property.
People were clamoring to get overpriced listings. Now that prices have stabilized or (in some cases) even decreased, people are waiting on the sidelines. Where is the sense in that?
If you do not have to sell another property to buy Steamboat Springs real estate, now is a perfect time to buy.
Right now, there are 1450 active real estate listings in Routt County, which includes Stagecoach, Hayden, North Routt, Steamboat Springs, and a few properties in Grand County and Craig. Only 301 properties are pending. We have more inventory than buyers, and low interest rates to boot.
These Steamboat Springs properties are priced to sell and ready for a buyer:
- A one-bedroom Grand 1/8th fractional—Reduced from $69,900 to $56,000
- A Stagecoach lot with lake views and all tap fees paid—Reduced from $139,900 to $119,900
- A 2 bedroom mountain condo perfect for primary residence or rentals—Reduced from $343,000 to $319,000.
- A 3 bedroom townhome between Steamboat and the Steamboat Ski Area—Reduced from $584,000-$579,900
- A 2 bedroom true ski-in, ski-out Steamboat Springs condo with great rental income—Reduced from $910,000 to $895,000.
Here’s what you need to take advantage of the real estate market in Steamboat Springs:
- Cash or good credit. Even though we have low interest rates, mortgages are harder to get than they were a year ago.
- A higher credit score and 20-30% down, if you plan to finance.
- Pre-approval from your lender.
- Courage to accept that prices may go down 1% or 2%. In the long run, it just doesn’t matter. Read here how even if prices do drop significantly, interest rates could go up making the savings negligible.
Remember: Real Estate is Local. Steamboat is not experiencing falling prices like some areas of the country. Those looking for bargain-basement real estate prices in Steamboat Springs will find some, but not many, places to choose. It might take longer to sell a house, but most sellers aren’t willing to drastically reduce their price.
Call Eliese Pivarnik at (970) 819-6372 or email me for information on these and other Steamboat Springs, Stagecoach, North Routt, Hayden, and new development properties.
Visit SteamboatHomeSales.com for more information on Steamboat real estate.
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