Archive for June, 2009
Wednesday, June 3rd, 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 Market Trends, Steamboat Condominiums, Steamboat Single Family Homes, Steamboat Springs Real Estate - General Information, Steamboat Town Homes | No Comments »
Wednesday, June 3rd, 2009
“REALITY IS THE LEADING CAUSE OF STRESS AMONGST THOSE IN TOUCH WITH IT.” Lily Tomlin. The reality of the recession has been stressful for many of us, but various pieces of news this week show things may be starting to turn around. Friday’s important Jobs Report showed there were 539,000 jobs lost in April versus expectations of a 610,000 loss, representing the smallest job loss since October. Even though the Unemployment Rate moved higher and hit a 26-year high of 8.9%, this is a lagging indicator, and many other data points hint that the worst could be over for the job market, and could lead to lessening stress in this area during the months ahead.Speaking of stress, last week’s “stress test” results showed the banking system is on the mend, and in better shape than it was a few months back. 10 of the 19 largest banks will need additional capital to cope with potential future challenges, but as a whole the banking system is solvent and regaining health. A crucial point to remember is that almost all of the institutions under scrutiny elected to choose the cash flow method of asset valuation, as opposed to the mark-to-market method. This would not have been possible without the Financial Accounting Standards Board (FASB) allowing for this change last month. Positive news came from Wal-Mart, saying that their sales for April were better than forecast. And they say, “As goes Wal-Mart, so goes the entire retail sector”, so this may mean health is also coming back to retailers at large. Bonds attempted to regain some ground in the early part of the week, but the good news from Thursday’s bank stress test, the better than expected Jobs Report on Friday, and the rally in Stocks caused Bonds to fall below key support levels. As a result, Bonds & home mortgages ended the week slightly worse than what it began.All of this relates favorably to Steamboat Springs Real Estate. We still have a climate of anxious sellers despite the signs of an economic turnaround. Opportunity in all sectors remains.
Posted in Financing, Real Estate Opportunities | No Comments »
Wednesday, June 3rd, 2009
Happy Earth Day! Earth Day 2009 marks the 40th anniversary for this growing movement and the kick off of the “Green Generation Campaign” featuring these core principles:
- A carbon-free future based on renewable energy that will end our common dependency on fossil fuels, including coal.
- An individual’s commitment to responsible, sustainable consumption.
- Creation of a new green economy that lifts people out of poverty by creating millions of quality green jobs and transforms the global education system into a green one.
From its humble beginnings this grass roots movement has grown to an international stage in the education of sustainable and reusable practices. Green Building is becoming more and more attractive in the Yampa Valley also as prices for green products are competing favorably with standard fare. More and more builders in Steamboat Springs are adopting green building practices.The Steamboat Springs Chamber Resort Association has developed a certification program to help businesses of all types understand, adopt and maintain sustainable business practices. They have partnered with a third party auditor, Lynn Halliday, from Environmental Solutions, Unltd. Whose function is to educate and bring businesses up to a level of standard and practice by implementing these sustainable programs. Buyer’s Real Resource Real Estate of Steamboat Springs is proud to be the first Real Estate office to obtain the Gold Planet Certification, awarded on December 3, 2007. There are more and more organizations, web sites and information on various types of green building practices. From Geothermal heating to new innovations of Solar to simple items such as ENERGY STAR rated appliances. We encourage everyone to do their part to help maintain the health of this planet for our future generations.
Posted in The Steamboat Lifestyle | No Comments »
Wednesday, June 3rd, 2009
By our Guest Blogger
Holly Rogers, Mortgage Banker
Yampa Valley Bank
What does a hopeful first-time home buyer do if they don’t have a credit score?
It is a very exciting time to be a first time home buyer, with the government’s $8,000.00 tax credit, our historically low interest rates and a large inventory of homes to choose from. Many people have been asking me what they can do to buy their first home.
I have also had several borrowers of late that did not have a credit score. If this is you, not to worry. Even if you don’t have a credit score you have an opportunity to still get 100% financing on your first home.
What we, as mortgage lenders, have to do is build an alternative credit history for you and that can be done from a variety of sources. For example, some sources that do not report to the credit bureaus but can show you have a good history of paying on time are: your landlord, your cell phone company, any of your utilities (i.e. Yampa Valley Electric or Atmos Gas), your cable or satellite TV company, and your car, health or life insurance company.
You can also go to your bank and get a secured credit card as your first card. But be aware that the credit history must go back a full twelve months and must not show any late payments.
The best thing to do is to get a letter from these “alternative” credit sources, saying you have had the account at least 12 months and that you have paid as agreed. You then can take these letters to your mortgage company and they will be able to build a credit history for your mortgage file.
The USDA 100% financing program only requires you furnish them three of these above items in order to establish your credit history.
If you do not yet have a full 12 months established, you will need to wait until you do, in order to finance a home.
It is also a good idea to start building credit relationships that do report to the credit agencies as soon as you can, so you will be able to establish a credit score.
If you have any questions about credit or credit scores or any other home financing questions, please call me at (970) 875-1636.
Holly Rogers
Yampa Valley Bank
Mortgage Lender
Posted in Financing | No Comments »
Monday, June 1st, 2009
Although as Exclusive Buyer Brokers we never list properties, we do occasionally find ourselves talking with potential sellers of real estate in Steamboat. Clients who have bought homes from us eventually find themselves in need of selling those very same homes. They come to us asking for a referral to an agent that we believe will serve them well in selling their home.
I recently finished teaching a Homebuying class at our local community college and had a student who was attending the class because he had a home to sell and wanted to learn more about the process. Why had he come to my class instead of talking things over with his own real estate listing agent? Well it turns out he was using a discount broker whose sole service was to list his property on the local Multiple Listing Service. So, he didn’t have an advisor, or someone to help him through the whole process.
Before the class had ended he’d contacted me to ask my advice as to whether he should hire a full service listing agent to help him sell his property. My advice was an unequivocal yes, given this economy.
This gentleman has a home for sale in downtown Steamboat Springs, currently listed for less than 1 Million. There are presently 41 single family homes for sale in downtown Steamboat Springs for less than 1Million. And in the past 12 months there have only been 11 sales of single family homes in downtown Steamboat in that price range. At that rate, were no more similar homes to come on the market, it would take four years to sell of the homes. This man’s home has been on the market 222 days already without a single offer coming his way.
I recommended a few different agents for him to interview – ones that were, in my opinion, experts at selling the type of property he had. They would help him price the property to where it would sell, and would market it aggressively to other realtors as well as to the general buying public.
And I reminded him: He doesn’t pay a cent to the realtor until and unless the home sells, which after all is his ultimate goal.
Posted in Exclusive Buyer Agency & Consumer Protection, Steamboat Springs Real Estate - General Information | No Comments »
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Buyer's Resource of Steamboat
56 Ninth Street Steamboat Springs, CO 80487
Phone: (970) 870-8885
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