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Steamboat Real Estate Analyst & Newsletter
Get the most in-depth analysis and data on the Steamboat Springs real estate market with my quarterly newsletter!
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Ski Season Ends This Week |
Greetings!
One of Steamboat's driest ski seasons on record will come to a conclusion this week...and not too soon. It is so amazing thinking about the snow we had last year: where the ski area closed April 10 with a ten-plus foot base and then received an additional 100" of snow after the last run of the season! In a typical year the ski area averages 325", and year-to-date we have received 224" and reporting a 28" base. I have been very impressed with the way the ski area has worked so hard in keeping as good of a product as they have over this tough year.
That's not to say there was not FUN to be had on the slopes, however, as evidenced by the following picture of our 'Rat Pack' taken at the top of Mt. Werner a few weeks ago.
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How is Steamboat's Real Estate Market Performing Against Other Ski Area Markets?
A very compelling question, and one that is answered in this month's newsletter. 'Professor Doug' tested our market on Supply (listings), Demand (purchases), Average Price, Dollar Volume and Absorption Rate on a seven year historical basis, evaluated those categories, then compared those results to nine other Western ski areas and came up with a report card on how they are all doing. This ended up being a pretty fun and enlightening exercise.
To read this month's newsletter and find out how Steamboat graded, click here.
There was an encouraging article in the Steamboat Pilot & Today newspaper on April 10 reporting about the economic recovery in Routt County, and quoted local and highly respected ecomomist Scott Ford of the Yampa Valley Data Partners in stating:
* Median listing prices in the local real estate market may have stabilized. In March, the median listing price of a home in Routt County was $487,500, an increase of 6 percent from the same time last year. The median price remains 28 percent below the peak of October 2008, according to Yampa Valley Data Partners.
* The number of homes for sale in Routt County continues to decrease, as does the number of homes entering the foreclosure process. "The real estate 'bottom' in both (Routt and Moffat) counties has been reached and a recovery is slowly occurring," the forecast reads. "Barring any significant changes on the national economy, this recovery should continue for the balance of this year. This coming quarter may also represent the best value in real estate in the Yampa Valley since 1981-82."
I have already been working on next month's newsletter and my initial indication is that I would most likely agree with his findings. The market just may have found its bottom, and timing may not be any better than now to make that purchase. Look for this
crazy graph to be the focus point of next month's newsletter:
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Steamboat Best Buys
Foreclosure List Now Available!
Give me a call (877.970.8885 x 101) or send me an email for a list of all of the residential, land and commercial foreclosures currently on the market.
Trailhead Lodge at Wildhorse Meadows Auction
Trailhead Lodge, a luxury condominium complex located just a few steps from the Wildhorse Gondola, is auctioning 39 residences on Sunday, May 6. Sizes of these fully furnished condos range from studio/1 bath units consisting of 461 square feet to 3 br/3 ba 1,500+ sf. If you would like my analysis of the auction or for me to register you, please email me.
Lodge Two Bedroom
Competition for buyers in one of Steamboat's most rented and well run condo complexes has lead to some wonderful buying opportunities. Eleven Lodge owners currently have their units for sale. The least expensive is a 2br/2ba, 1,041 sf condo that comes with a deeded, covered parking spot. These are wonderful floorplans with plenty of windows, private deck and quality amenities. Listed at $249,000.
 Cimarron ForeclosureBeautiful 5 br/5.5ba, 3,242 sf Cimarron townhome with direct ski area views. Two car garage, four levels, quality construction, pool, hot tub, workout facility, and great rentals and within close proximity to the slopes make this a wonderful property to own. Won't last! $1,100,000
Moonshadow Ranch
 Just reduced by $1,600,000 to $5.9m, Moonshadow Ranch is one of the South Valley's most formidable private gated horse properties. Consisting of a magnificent 4+br/4+ba custom residence 2 br caretaker residence, 6 stall barn, huge garage and workshop, 3 sided hay barn, 5 pastures with loafing sheds, arena and round pen. Excellent quality throughout and only minutes to town. These properties are just a sampling of some of the great buys in the Steamboat Springs market right now. Please let me know if you would like any additional information, or if you would like me to conduct a personal search for you. |
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 I would like to send out a heart-felt thank you for all who voted for me in the "Best of the 'Boat" contest held by the Steamboat Pilot & Today newspaper. You may recall that I sent an email out a few months ago asking for votes for our office. Some must have taken the liberty of not only voting for the office, but also for me, for although the office didn't quite make the cut, I was able to make it to the awards podium.
Being in the business for 30 years now and tracking the market like I do, I see positive signs that the market may be starting to improve (for sellers). If you have been waiting for the best time to buy, this just might be it.
Please feel free to give me a call (877.970.8885) or email to discuss any thoughts you may have on fulfilling your dreams of owning a Steamboat Springs property. The time may never be better!
Sincerely,
Doug Labor, GRI, RRP, ABR, ABRM, CEBA, e-PRO
Buyer's Resource Real Estate of Steamboat
Exclusively Representing Buyers
...Offering 30 years of experience to help you locate the best property to meet your needs, then assist in negotiating the lowest price and best terms, and looking out for your best interests, all of the time, on all properties and at no cost to you! |
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