Steamboat Springs Fractional Ownership is Growing Rapidly!

By
Real Estate Agent with Colorado Group Realty, LLC

Fractional sales have been growing in Steamboat Springs, CO as an alternative for people who still desire luxury accomodations but don't want to invest in an entire condominium they'll only use a few weeks a year.

Through November, there have been 92 transactions at the Steamboat GrandSteamboat Springs Fractional Ownership, Steamboat GrandThe average price is $110,772, for over $10,000,000 in sales.   The Steamboat Grand was recently ranked in the Top 50 Ski Hotels by Conde Nast magazine.  It has a full-service spa, a great year-round outdoor pool and spas, several restaurants and conference rooms, concierge, ski rental, and shops.

At the Christie Club, a ski-in, ski-out property, 22 fractional transactions have closed this year.  The average price is $222,564.  The Christie Club offers three and four bedroom units without a "hotel" feel.   Decks overlook the ski area where you put your skis on at the door and you are literally on the slopes.

Another fractional opportunity in Steamboat Springs exists at The Porches. The Porches are large, four, five, and six bedroom homes with room for the entire extended family.  They are built on three levels so the grandkids can be playing pool or watching the big-screen tv in the basement while the adults can talk over cocktails around the fireplace.  There is a separate clubhouse with fitness facilities, spas, and pool.Steamboat Springs Fractional Ownership, Steamboat Springs, CO Real Estate, The Porches

Finally, One Steamboat Place is being built right beside the gondola building.  The much-anticipated development will be finished in two years and offer 336 1/8th ownership interests.  

Read about fractional ownership at  SteamboatHomeSales.com or call Eliese Pivarnik, Century 21 Ski Town Associates, at (970) 819-6372 to schedule a showing at any of Steamboat's fractional or whole ownership properties.

  

Comments (6)

Joanne Hanson
Coldwell Banker Colorado Rockies Real Estate - Frisco, CO
Summit County, Colorado Realtor
HI Eliese, we are seeing the same thing here in Summit County.  As prices push up it is the only way for people in the lower price ranges to buy.  I have stayed at the Steamboat Grand a couple of times as I had a friend who bought in there when new and sold this year.  I am hoping she made some money on it.  It is very nice! 
Jan 09, 2008 09:04 AM
Eliese Pivarnik
Colorado Group Realty, LLC - Steamboat Springs, CO
CRS, GRI, ABR, RSPS, Colorado Group Realt

If your friend bought at the auction (two years ago) she would have doubled her money.  Since she bought it new, there might have been better developments in which to buy.

The Grand is great for locals, too.  They have underground parking, ski storage, and a killer pool/spa area.  Christie Club is the same way.   Does Summit have fractionals that locals purchase for the amenities and price appreciation? 

Jan 09, 2008 09:26 AM
Floyd Magee
ERA Four Corner Real Estate - Farmington, NM
Eliese we just started offering the very first fractional ownership opportunity in Ouray County as well. The Chipeta Sun Lodge is offering 1/4 shares starting at $95,000 for a 1bedroom. It will be interesting to see how it goes. We don't have a ski resort, but the same frantional in Telluride would cost about 4-5times that. Thanks for the post!
Jan 09, 2008 01:55 PM
Eliese Pivarnik
Colorado Group Realty, LLC - Steamboat Springs, CO
CRS, GRI, ABR, RSPS, Colorado Group Realt
Floyd, Is the Chipeta Sun Lodge a new place?  I couldn't tell from the website.  When we were moving to "a mountain town in Colorado" three years ago, we looked at that area and fell in love with the scenery.  It's beautiful.
Jan 10, 2008 01:23 AM
Joanne Hanson
Coldwell Banker Colorado Rockies Real Estate - Frisco, CO
Summit County, Colorado Realtor

Eliese, most of us don't like fractionals!  We prefer not to have much to do with them if we can help it, but as prices go up, there will be more interest and we will probably end up dealing with them.  Our experience with fractionals and timeshares is that they don't appreciate much, at least to date.  I know they are all the rage for developers to build as they make tons of money on them, but resales seem to be tough. 

Jan 12, 2008 09:02 AM
Eliese Pivarnik
Colorado Group Realty, LLC - Steamboat Springs, CO
CRS, GRI, ABR, RSPS, Colorado Group Realt

Interesting.  Maybe it has to do with the low inventory here or the lack of ski-in, ski-out property, but the Grand (since they held the auction to clean things up) and the Christie Club do very well. Very comparable to whole ownership in this market.

The latest fractional/whole ownership project, One Steamboat Place, is run by Timbers Resorts.  I know people who bought their fractionals in Snowmass back in the day and now wish they bought ten of them!

It's definitely a niche.  Give people the choice of a dumpy one-bedroom condo on the bus route they owned and had to deal with 52 weeks a year or a luxury three bedroom condo on the slopes they can use 6 weeks a year (that's been appreciating better than the stock market), and a good percentage of them will pick the fractional.

 

Jan 13, 2008 02:33 AM

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