Steamboat Real Estate Analyst & Newsletters
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After finally recuperating from the all of the July festivities, August is coming in with the 10th Annual Steamboat Wine Festival from August 7 - 11. Highlighting the four days of activities will be the "Stroll of Steamboat" where patrons can tour down main street and along the beautiful Yampa River to mingle, nibble and sip wine, spirits and craft beers at various restaurants and retailers.
Although we are not one of those, we will have a
Buyer's Resource Wine & Cheese Open House
56 9th Street, Downtown
for friends / clients during the Stroll,
Friday, August 9, 4:00 - 6:00 pm.
Please stop by and say hi...and let us know what you think of our selections! To make the evening a little more fun, every 30 minutes we'll have a drawing for a nice bottle of wine. Whether you are participating in the Wine Festival or not, if you are in town please stop by for some refreshments and conversation!
To learn more about the Wine Festival, click here
July was gorgeous, and started off with a Fourth of July Parade and Fireworks show. Lincoln Avenue was five deep watching the nearly two-hour parade including some very unique entries, and as always the fireworks show was spectacular.
From what I have heard, Steamboat Springs has gained a reputation as being the best place in Colorado to celebrate our nation's birthday!
The Steamboat Springs real estate market is in a transitional period. The Seller's market between 2003 to 2007 gave way almost
instantaneously to a Buyer's market from 2008 to 2012. Now, it appears we are in a transitional time, often with sellers and buyers battling on if we are in a depreciating, stable or appreciating market. Appraisers are calling the market 'stable'. It is important for both parties to know where the market is and adjust their strategies accordingly. This quarter's newsletter will help give both buyers and sellers that insight. So, if you're thinking about buying, click here
to get the facts.
Which US State is the Healthiest?
The Gallup-Healthways Well-Being Index, is an study conducted to assess the daily health and well being of US residents. Interviews were given to determine the average of six sub-indices, including Life Evaluation, Physical Health, Emotional Health, Healthy Behavior, Work Environment and Basic Access. It is considered the preeminent source for well-being data in the United States. They just completed their index for 2013, and Hawaii was determined to be the #1 state for Well Being. Colorado was #2! If you would like to read their report, click here.
In an indirect way, this study justifies a comment one of my sisters (I have a total of five) made a few weeks ago when visiting from Pennsylvania with my brother-in-law and two nephews. After a few days in town, she made the assessment "People around here always seem to be doing something active and look so healthy!"
It was a nice compliment, and I think the natural beauty of the area lends itself to our healthy lifestyle. This was evident when we took an afternoon pontoon boat out on Steamboat Lake. The picture below, with Hahn's Peak in the background, was taken of a passing water skier. We also saw many others hiking, camping, horseback riding and swimming.
Best Buys on the Market
Today there are 1,797 properties listed for sale in the Steamboat Springs MLS. The following are my personal picks, and remember I do not list properties for sale. I am an exclusive buyer's broker. These properties have to earn their place on my Best Buy list. Please give me a call and I'd be happy to further discuss their merits and how these properties deserve to be included in this elite group. Together, we can develop an offer strategy to make one of them your Steamboat home.
Virtual tours are available for many of these properties,
so email me and I'd be happy to send you the link.
One Bedroom / One Bath Money Maker!
The best cash return for the money I've seen in years! This 1 br / 1 ba, ski in / ski out Torian Plum condo has averaged well over $22,000 a year for the past five years, and at only a $259,000 list price has an amazing 8.8% price:income ratio! The condo is in excellent condition and is located right in the heart of the ski village, with all of the shops and restaurants are within walking distance. On site amenities include underground parking, ski lockers, pool, hot tubs, conference rooms, fitness center, shuttle, on-site check-in and concierge, to name a few. To see how affordable this home is, give me a call and I'd be happy to email you my cash flow analysis.
Slopeside Ski Inn Just Reduced!
I have a feeling this seller is begging for an offer. Just reduced yesterday by an additional $10,000, the last Ski Inn 2 br / 2 ba sold in 2012 for $275,000. Well located, priced right at $185,000.
Rare Foreclosure in One of Steamboat's Most Desirable Neighborhoods!
Homes in the Running Bear Subdivision, which is located only a few blocks from the ski area and offering spectacular southerly and westerly views of the Yampa Valley, have sold in the past year between $200 to $260 a square foot. This bank-owned, 7,742 square foot home is listed at only $158! 4+ bedrooms, 4.5 baths, Spacious main level master, hardwood floors, wonderful kitchen. The bank has recently reduced the list price to only $1.225m.
Stagecoach Lot with Pond!
Bank owned half-acre lot in Morningside Subdivision in Stagecoach. Beautiful wooded lot with a pond and also borders a greenbelt. Electricity is to the lot line. Only 5 minutes to Stagecoach Reservoir and 25 minutes to the Steamboat Ski Area. If you are looking for an inexpensive lot to build your home in a beautiful and private location with water, this is it! Offered at only $17,500 and the bank wants an offer!
Nice Single Family Close to the Ski Area!
The Landings is a single family home neighborhood designed for carefree living, quick access to the slopes and the potential for good rental income for the owner. This 4 br / 3 ba home consists of 2,297 sf and comes completely furnished. The HOA takes care of all exterior maintenance. The last Landings home sold for $305/sf in 2012. This one is listed for $289/sf, or $664,500.
for residential properties are down substantially from last year! If you would like to see a list of what is currently available before they are snapped up, click here
and let me know if you find one of interest.
These are just a few of the wonderful opportunities that currently exist in Steamboat Springs. I would be happy to conduct a personal search for you. Please send me an email and you'll have properties to look over within 24 hours.
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With ski season is right around the corner, this is the perfect time to take a peek at a slopeside condo. You'll be able to close in a few weeks and still have plenty of time to get it ready for winter enjoyment and to maximize your income. Give me a call and I'd be happy to send you a list of potential properties and set up a time to look around. For clients coming to town from now until the snow flies, I've worked out a special deal with the Ptarmigan Inn for discounted stays.
Look for a new design of my website in the next few weeks! It includes easier search features and navigation, a clean design and more information to help you find your perfect Steamboat property.
I hope to see you here Friday, August 9 at our Wine & Cheese Open House!
Doug Labor, GRI, RRP, ABR, ABRM, CEBA, e-PRO
Broker / Owner
Buyer's Resource Real Estate of Steamboat
Exclusively Representing Buyers
Offering 30 years of experience to help you locate the best property that meets your needs. I will assist in negotiating the lowest price and best terms, while looking out for your best interests...at no cost to you!