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Issue: 5.1 January, 2010
This Month's News
Steamboat Olympians!

I hope you had an opportunity to watch the 2010 Olympic games in Vancouver, British Columbia over the past few weeks.  It was a very exciting and proud time for anyone associated with Steamboat Springs, as the U.S. Nordic team accomplished what no other U.S. Nordic team has ever done in the Olympics.  Of the five team members, three grew up in Steamboat and all train here winter and summer.

124043Local skiing sensation Johnny Spillane (some of you may have received a key from him at check-in when he worked as a front desk clerk at Mountain Resorts) started the medal run by winning a silver in the normal hill Gundersen event. That was followed by a silver medal in the four-person team event, which consisted of Spillane, Billy Demong, Todd Lodwick (local and part time ski guide), and Brett Camerota, before Demong took gold and Spillane took silver in the large hill Gundersen event.

The team is now off to take part in the Armed Forces Enter­tainment "Olympic Heavy Medal Tour" in early April.

 "We're blessed to have the opportunity to compete on the world's largest sporting stage and return home from the 2010 Winter Olympics with a heavy medal load," Spillane said in the release. "Now it's time to show the world who the true heroes are."

The Nordic combined team is expected to compete in the final World Cup of the season Friday and Saturday in Oslo, Norway. The team will then return home to Steamboat for a Hometown Heroes Celebration.

Plans are taking shape for that event, which will honor local Winter Olympians with communitywide festivities. The primary event is scheduled for 6:30 p.m. April 2 in downtown Steamboat Springs, where city crews will put snow on Lincoln Avenue for a parade featuring the athletes, the Steamboat Springs High School Ski Band and more.

Earlier in the day, athletes are scheduled to visit Steamboat's two public elementary schools and Steamboat Springs Middle School for assemblies. A public meet-and-greet with athletes is from 2 to 5 p.m. in Olympian Hall at Howelsen Hill.

* Photo from Steamboat Pilot & Today, John Russel

A Gold Medal Buy!

Yesterday I helped an Ohio couple and long time client close on a beautiful two bedroom, two bath, 1,326 square foot Ranch condominium with straight on ski slope views, as well as views 30 miles away to the always snow capped Flat Top Mountains.  This condominium was listed for $399,000 and they purchased it for $300,000!
That's $99,000 below list, and 25% off of the list price!

ranch 505 

How did they make such a great buy?
First: They made the offer (at $280,000).
Second: I put my 27 years of real estate experience to work for the benefit of my clients!
Third (and Fourth): We made two counter offers.
There are more opportunities out there, but it's hard to tell how much longer they will last.  In the most recent issue of Barrons Magazine, the cover story was on the second home market.  And they report...
"Prices of luxury real estate are finally starting to rise, as bargain hunters swoop in. Some of the best deals are in second homes with prices off as much as 40%."
I have to say that I personally have seen a substantial increase in client interest.  Did you miss receiving my February newsletter?  In the four years I have been sending electronic newsletters, last month was only the second time that I was not able to make my production schedule, and it was because I have several clients taking advantage of the current market conditions (and we aren't even in the busy buying season yet).  Many have made great buys like my clients from Ohio.

Steamboat Best Buys! 

I have been unable to keep my "Distressed Property" page on my web site up to date because of the time constraints over the past few months, but will try to update it as time allows, so please keep on checking back.  Otherwise, below please find some of the better buys waiting for someone to make on offer...
aspen ridgeDakota Ridge Foreclosure 
In a neighborhood that commands house values from $350 to over $500 per square foot, this bank-owned property is listed at less than $300 per square foot.  This wonderful home is in mint condition and consists of five bedrooms and five baths and over 6,000 square feet.  It includes a three car garage, library / study, media / theater room and mother-in-law quarters.  The views from this home are some of Steamboat's best, and this great buy is priced at $1.8m. Status:  SOLD FOR $1,250,000! 
marabou cabinMarabou Foreclosure!
Bought for $1.92m, the list price the bank has placed on this 6.9 acre lot in the exclusive Marabou Ranch shows they want it sold now.  This sunny parcel is the closest lot to Steamboat (~ 15 minutes).  Marabou Ranch is a beautiful 1,717 acre ranch community, offering a private lodge, spa, pool/fitness center, equestrian barn, state of the art theatre and six owner cabins.  Over 20 miles of trails for biking, horseback riding and hiking.  World class fishing on over two miles of the Elk River, along with numerous lakes and streams.  Listed at $1.525m.  Status:  Available
johns livingroom
2 Bedroom Slopeside Condo 
Top floor ski in, ski out Bronze Tree Condo with panoramic views of the slopes and valley. Jump on the Christie Peak Express chairlift just 100 yards away!  This 2bd, 2ba unit is on the 6th floor with elevator access and has vaulted ceilings, huge floor-to-ceiling windows and a wrap-around deck to take in the fabulous views. Bronze Tree features an indoor pool, indoor & outdoor hot tubs, exercise room, 2 complimentary common area laundry rooms, ski lockers, a parking garage and a seasonal shuttle. Terrific location with foot access to Ski Time Square shops & restaurants.  This needs some work, but it's priced at only $449k, which, at $411 per square foot, will be in the middle of properties priced at $1,000 per square foot.  Status:  Available
stagecoach yurtCamp Stagecoach
Very unique opportunity for someone who is looking for a place to get away for some peace and quiet at a very affordable price.  Enjoy living in the middle of a pine and aspen forest on five acres with a yurt, platform and shed to keep your toys that have been grandfathered in by the Stagecoach Property Owners Association.  A very unique property for only $65,000!  Status:  Available
Conduct my own property search.
Please remember I do not accept listings.  Therefore, these selections have been compiled from over 2,000 properties for sale (advertised or unadvertised) via REALTORS, owners and developers.  Properties are selected objectively and without bias, based on their existing merits and not factored in is the potential for further negotiation.  To better understand each property, I have identified any misgivings as well as features, as every property has certain nuances that I make clients aware of.  Best Buy properties have been selected due to price, location, scarcity, quality, rental income and investment potential.
If you would like additional information on any of these, or if you would like me to conduct a personal Best Buy search with the features and benefits of your ideal property, please contact me
The time to buy may never be better than it is today.  Interest rates, motivated sellers, ample supply, foreclosures, short sales.
"Who has the capital to invest in a downturn?
Those who invested in the last one..."
It would be a pleasure to hear from you on your Steamboat Springs real estate needs, and how I can assist in helping you accomplish your dreams.  My toll free number is 877.970.8885 x 101, or feel free to email me today!
 johns livingroom

Doug Labor, GRI, RRP, ABR, ABRM, CEBA, e-PRO
Buyer's Resource Real Estate of Steamboat
Broker / Owner