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Issue: 5.4April, 2010
This Month's News
Ski Season Ends With a Bang!
Last Sunday was the final day of skiing for the 2009 / 2010 ski season at Steamboat, and what a beautiful day it was: Blue bird skies, sixty plus degrees and great snow!  It is hard to believe that last Monday and Tuesday (April 5th & 6th) the ski area reported 21 inches of new snow and the week ended with short sleeve weather.  Mother Nature definitely held the best for last as the last week of skiing was the best of the year!
Not only was that hard to believe, but living in Colorado is always enjoyable, no matter your passion.  As an example, to help a friend celebrate his birthday last Sunday, we started off with a round of golf at the Yampa Valley Golf Club in Craig, then headed back to town to ski in the afternoon with our families, then went to watch the final few holes of The Masters on TV.  It just so happened that I had a hockey game that night, and although we lost the game, still made for a very fun day in the Rocky Mountains.
1031 ExchangesThe week before Steamboat was all abuzz, as over 1,000 residents and guests welcomed home our medal winning Olympic heroes with a parade down Main Street and celebration, complete with 'jumbotron' in front of the Routt County Courthouse.

Market on the Mend?

With the first quarter of 2009 being the worst reported quarter my records (which go back as far as 1995) have shown, I was very interested in the first quarter of 2010 to see if there was any improvement over the past year.
april 2010 p1I was amazed with the results! Find out what direction the market is heading, and if your opportunity may have already passed you by and what direction the market is heading by clicking here to read this quarter's newsletter.
Last quarter saw buyers seizing some wonderful real estate investment opportunities that existed!
And speaking of an investment, an investment vehicle some clients use when buying vacation / second home / investment / retirement property is a little known concept in the IRS tax code called a 1031 Tax Deferred Exchange.  A '1031' could be an excellent way to purchase your dream property while at the same time deferring capital gains taxes you would otherwise have to pay to Uncle Sam from the sale of another real estate property.
1031 ExchangesI now have posted a recent newsletter on how you may use this to your benefit when buying a Steamboat Springs property. To find out more, click here for a great newsletter explaining the details, and click here for additional information on my web site.
After all, what better day than today (April 15) to look at more ways to save on your taxes!

Steamboat Best Buys! 

This time of the year is the absolute best time to make an offer on a ski property.  Sellers have just received their income for the ski season and are now facing several months of carrying costs.  And with market activity picking up and interest rates expected to go up by the end of summer, I've gone through all of the ski-related listings to find the ripest ones for the picking.
sm dudlyBeautiful One Bedroom Renovation!
One bedroom and one bath Storm Meadows Club A condo right on the slopes.  This condo has been fully remodeled with hardwood floors, granite countertops, tiled shower and new appliances.  The Storm Meadows complex includes a heated, outdoor swimming pool, spa and health club.  Excellent rentals.  558 square foot of quality and convenience. Listed for $249,000.
firstracksNew Wildhorse Meadows Condo!
Walk to the Wildhorse Gondola from this brand new two bedroom and two bath, 1,177 square foot condominium (priced at only $251 per square foot!).  First Tracks condominiums share all of the amenities with Trailhead Lodge, including the athletic club, pools and game room.  More amenities coming in the future.  This opportunity won't last much longer as the developer wants to sell out before summer.  Listed for $295,000
cimarronStunning Cimarron Townhome 
Within walking distance to the slopes, this five bedroom plus loft, five bath residence has log post and beam accents, a gourmet kitchen, 2 car garage, air conditioning, vaulted ceilings and many more upgrades.  Consisting of four levels and 3,200 square feet, it is priced at only $400 per square foot and performs very well in the rental program.  Onsite amenities include a pool, spa, exercise facility and shuttle service.  Reduced from $1.795m to $1.295m.
stagecoach yurtRockies One Bedroom 
Great Rockies one bedroom
condo with a generous 693 square feet in wonderful condition.  Ski area views, nice furniture and a Rollingstone Golf membership are all included.  Excellent rental income helps offsets the majority of the cost of owning this affordable property.  $149,000
The Buy of the Year?
1031 ExchangesGorgeous townhome overlooking the Steamboat Ski Area and Rollingstone Golf Course, this home features six bedrooms, each with their own bath, a master suite on every floor, two with fireplaces.  Dramatic architecture with timber beams, vaulted ceilings, covered decks, patios and custom glass elevator.  Gourmet kitchen with top of the line appliances and two entertaining areas. Originally listed at $3.195m, and just recently reduced again to $1.895m, or an unbelievably low $274 per square foot for this quality!
If you would like additional information on any of these properties (Cash Flow Analysis, additional pictures, homeowner association information, etc.), please email me or give me a call.
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