Archive for May, 2009
Friday, May 29th, 2009
It’s time to be OUTSIDE!!! So whether your plan is to rollerblade the Yampa River core trail, mountain bike Spring Creek trail to Buffalo pass, play eighteen holes of golf at the Haymaker Golf course or simply have a picnic lunch in little toots park, it’s time to enjoy the weather. On the way , no doubt, you will see people of all ages on the soccer and baseball fields, some kayakers and fishermen. As you pass them just give them a nice wave and a friendly Steamboat hello as is our custom. Steamboat Springs, after all, is all about recreation and friendliness.
Speaking of friendly, there is a very friendly deal on the market in Quail Run condominiums. It is a two bedroom one bath unit with an attached garage and 993 square feet of room for $299,900.00. This second floor unit was built in 1999 and has vaulted ceilings so it seems like there is even more room along with a gas fireplace. The next lower priced one is listed at $369,000.00 and the last one of this size to sell went for $ 392,000.00. One of the unique items at Quail Run is that all the heating and hot water is included in the HOA fees. At $313.00 per month this includes water, sewer, trash, cable TV, exterior building maintenance, exterior building insurance, lawn maintenance, snow plowing and shoveling and a common area hot tub.
Also included in the HOA, and something you should always ask about, is Capital Reserves. A portion of every month’s dues goes into a fund for future maintenance or improvements. Most healthy home owner associations have this valuable tool in place. Most healthy home owner associations also have a 10 to 20 year maintenance plan in place with costs and timelines. This allows you to look into the future and see what is on the horizon as far as needed repairs. The Capital Reserve account can be used to fund these improvements in a couple of ways. If it is a minor project then the entire amount can be taken from this account. If it is a major expenditure then this account can be used to leverage a loan to pay for the repairs and/or replacement of the item. This method means that there should be no major special assessments dropped on your door step. Also remember that once you own a property then you are a part of the HOA and can, and should, be actively involved in the HOA’s decision making.
Posted in Real Estate Opportunities, Steamboat Condominiums, The Steamboat Lifestyle | No Comments »
Friday, May 22nd, 2009
Spring is finally here in beautiful Steamboat Springs, Colorado! Numerous flowering crabapples have bloomed in glorious shades of white and pink over the last several days, and colorful flowers are popping out everywhere. Memorial Day Weekend marks the first of numerous events scheduled for this spring/summer season, including the Historic Places Bike Tour, the Urbane Rail Jam and the 29th Annual Yampa River Festival.
If you have been waiting for that special opportunity to purchase a second home here in Steamboat Springs, Bear Lodge at Trappeur’s Crossing is offering a great financing deal to their next 5 buyers. Secured through Countrywide/Bank of America, the introductory rate will be 2.5% for the first year, 3.5% for the second year, 4.5% for the 3rd year, and 5.5% for the remaining years of a 7 year ARM. Current prices range from $299,000 for a 1 bed/1 bath up to $1,595,000 for a 5 bed/5 bath unit. The property offers numerous amenities, including indoor/outdoor pools, hot tubs, sauna, winter on-call van shuttle service, ski valet, tennis courts, fitness center, and heated underground parking.
Please call or e-mail us for more information about this great opportunity in Steamboat – and have a great and SAFE Memorial Day Weekend. If you’re in Steamboat this weekend, stop by our office – we will be open Sat., Sun., and Mon., from 10 a.m. until 2 p.m.
Posted in Best Buys, Financing, Luxury Real Estate, New developments, Real Estate Opportunities, Steamboat Condominiums, Steamboat Springs Real Estate - General Information | No Comments »
Thursday, May 21st, 2009
By Doug
Have you checked out our May newsletter yet? The focus for this month was looking at the residential market in Steamboat Springs, and how it has fared over the past five years. I must say that I was very surprised in the findings. Keeping in mind the research was done on what has sold and not what is listed, the number of sales has dropped considerably, but the price at which homes, town homes and condominiums in Steamboat Springs have been purchased for has actually maintained itself quite well in these tough economic times. To see the report and all of the great information, please check out the “Monthly Newsletters” section of the “Buyer’s Toolbox” link above.
Regarding the residential market in Steamboat Springs, if you are looking for a great lot to build a single family home, consider this “Best Buy”:
Great lot ready to build with a wonderful location in Wildhorse Meadows. Walking distance amenities include the gondola, tennis center, athletic fields, Strings in the Mountains Center, and more! The lot borders open space and offers Ski Area, Emerald and Flat Top Mtn. views. In the future, Wildhorse owners will enjoy use of The Ranch House, Wildhorse Athletic Club Steamboat Country Store and trail system. All utilities are to the lot line. In a neighborhood that already has a spec home setting the standard at $3.295m, this price, of $495,000, is a great value (lot values typically represent 25% to 35% of total value).
If this property sounds like something you are interested in, give us a call / email today. We’d be happy to provide you with pictures, maps, etc and answer any questions you may have.
Tags: steamboat condominiums, steamboat homes, steamboat real estate, steamboat town homes
Posted in Uncategorized | No Comments »
Monday, May 11th, 2009
Even though the first time homebuyer tax credit has been widely publicized, I just read an article that said many Americans are still unaware of this great opportunity. So, I decided to post an article from the National Association of Realtors website at http://www.realtor.org/ that outlines the basics for you:
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
If you want to take advantage of this one-time tax credit to buy real estate in or around Steamboat Springs, please call or e-mail us today!
Posted in Financing | No Comments »
Friday, May 8th, 2009
This week Ulrich, Susana and I headed to Frisco, CO and attended the eighth annual Colorado Exclusive Buyer Agents Association annual convention. As the name implies, the convention was with exclusive buyer brokers throughout the state.
I find it a wonderful opportunity to visit with other associates who are also passionate about consumer advocacy in the real estate industry, and every time I return home after the meetings, I feel revitalized. Because the general public is not yet educated of the advantages of working with an exclusive buyer agent (EBA), our business model is not an easy one to have. However, commiserating with fellow practitioners gives me a time to hear other success stories from how other EBA’s have helped buyers in ways only an EBA can.
We can only hope the public recognizes the numerous benefits when working with an exclusive buyer agent. We also hope that after a good deed is done with a satisfied client and they are in their new home, that they would help spread the word by referring us to a friend, relative or associate who would also appreciate the type of service we provide.
Our guest speaker was Doug Devitre, a nationally known speaker and trainer in the real estate industry who teaches the many dynamic uses of social networking. This was the first time Doug spent quality time with exclusive buyer brokers, and he was impressed with our commitment and passion for consumer advocacy, the pureness of our services and the way we conduct our business.
Please keep in mind that if it’s not Steamboat where you are looking to purchase a property, the services of an exclusive buyer broker may not be far away. Let us know how we can help!
Posted in Buying Tips, Exclusive Buyer Agency & Consumer Protection | No Comments »
Tuesday, May 5th, 2009
I am pleased to announce the release of a new publication for our clients.
The Inside Edge is a ten page report discussing some of the more likely scenario’s of when the Steamboat Springs real estate market will hit the bottom – and provide the most opportune time for a buyer to act.
The tough thing with a bottom of a market cycle is that you never know you were in it until it has come and gone. This will help give you some direction in that regard.
To get your copy of this great resource, please give us a call.
Tags: buying steamboat real estate, real estate cycles, steamboat real estate
Posted in Uncategorized | No Comments »
Monday, May 4th, 2009
By Susana Field
Bruce Carta of the Land Title Guarantee Company, aka Our Steamboat Springs, Colorado, Market Trends Guru, sent me a couple of articles last week which seem to have a bit of teeth to them. I thought I would share them with you here.
HUD chief sees early signs of housing turnaround
Wed Apr 29, 2009 11:34pm BST
WASHINGTON (Reuters) — The U.S. housing market is showing some early signs of a turnaround, but it’s too early to say if a full recovery is underway, Housing and Urban Development Secretary Shaun Donovan said on Wednesday.
“We do have some early signs I think that the market is stabilizing. Since January, what we’ve seen is both prices and sales volumes moving up and down around a relatively stable number,” Donovan said at the Reuters Global Financial Regulation Summit in Washington.
U.S. house prices tumbled nearly 19 percent in February. But for the first time in 16 months, the fall did not set a new record, according to data released on Tuesday by S&P Case-Shiller.
“I want to be clear, I think it’s too early to say that is a long term trend until we get a couple more months of data,” Donovan said on Wednesday.
Donovan made his comments as the Federal Reserve said the pace of deterioration in the U.S. economy appeared to be slowing but that it would continue to keep interest rates exceptionally low to ensure recovery.”
And then from: The Week Ahead in the Capital Markets – April 27, 2009
“…the bottom is coming in to view.” The bottom of the housing market, that is. Mark Zandi, Moody’s chief economist, believes home sales hit bottom in the first quarter of this year, and prices will bottom in the fourth quarter. Zandi expects prices to fall sharply through the summer and fall before bottoming out at the end of 2009, down 36% peak to trough.
Following the bottom, the chief economist expects prices to hold steady through 2010 before they resume rising at a modest rate in 2011 and 2012.
“I don’t expect national housing values to get back to their previous peak for more than a decade,” he said. “It’s going to be quite some time before we get back to those previous highs.”
At least mortgage rates are low.”
We would love to hear from you if you’re getting ready to start looking at Steamboat Springs single family homes, condos or land. The snow is gone from town and is melting rapidly in the surrounding countryside.
Posted in Market Trends | No Comments »
Monday, May 4th, 2009
By Ulrich,
Ah Spring! Or “Mud Season” as the locals refer to it. It certainly isn’t as bad as it used to be with more paved roads and sidewalks. Most of Steamboat Springs is empty now due to our school spring break. About 20 years ago the School Board was asked to review their vacation schedules which gave the kids almost three weeks off for Christmas break. This proved to be a hardship for most parents as they were somehow involved in the ski/tourism industry. The Christmas time has traditionally been one of the busiest time of the year and required “all hands on deck”. At that time a suggestion was made and accepted on a trial basis. The Christmas break would be shortened by one week and that week would begin one week after the close of the ski area.
This schedule proved to be so popular that it remains in effect today. This new schedule allows for parents to actually take a vacation with their kids. It is a great time of year to travel as the weather is usually favorable, there are plentiful lodging options and the airfares are at their cheapest.
Not all people fly however, there is always a contingent who haven’t had enough of their favorite winter sport who head to the few resorts that remain open. Add that to the annual pilgrimage to Moab, Utah for mountain biking and hiking and you end up with an empty Steamboat.
The few of us that remain to guard the town are treated with dinner and drink specials at the few remaining open dining establishments. It is a great time to relax, get the yard ready and gear up for what will be another event packed summer season. Sure it may require that a person has a multitude of professions throughout the year but most will proclaim that they enjoy having a definitive end to one job and they wouldn’t have it any other way.
Posted in The Steamboat Lifestyle | No Comments »
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