Archive for the ‘Stagecoach / Oak Creek / Yampa / Phippsburg / South Rou’ Category

High Above Routt County

Friday, June 26th, 2009

I recently had the pleasure to accompany Doug Labor, who recently received his pilot’s license, on a flight around Routt County. The Colorado blue, cloudless morning afforded us an incredible view of all the landmarks of the Yampa Valley. On takeoff we headed south toward the Flat Tops Wilderness area. Off to the west you could clearly see Yampa Valley Regional Airport’s runway and just beyond the town of Hayden. As we approached the Flat Tops we were climbing to over 13,000 feet  and still would have needed more to clear the snow covered peaks. On the way we could peer down at the towns of Oak Creek, Phippsburg and Yampa peacefully existing among their natural settings.

 

With the wet spring that we have endured it certainly has everything lush and green. I was surprised to see as many hidden lakes as we did. We proceeded to turn and head north east over Lynx Pass and the Stagecoach area and could see people enjoying the water activities at the Stagecoach State Park. Beyond the reservoir you could see the Yampa River meandering through Pleasant Valley on its way to Lake Catamount. As we passed the lake we could see the Rabbit Ears that gave the pass its name and began to approach the Steamboat Ski Area and Mount Werner. The city of Steamboat Springs lay at her feet aligned with the Yampa flowing through its midst. We passed by both the Walton Creek and Fish Creek drainage areas and could make out the waterfalls glistening in the sun. The Mount Zirkel Wilderness area was still holding its snow and we wondered how far up Buffalo pass one could go before snow blocked the way. Off to the right of the plane was a large canyon situated between the Fish Creek area and Seed House road. I made a mental note to see where this area is on the map and see if there is any access into the canyon.

 

On the horizon Hahn’s Peak kept getting larger as we approached. Pearl Lake with its still waters was now below us and as we circled Hahn’s Peak and the town of the same name we could clearly see into Wyoming just past Hog and Whiskey Parks. Heading south west once again Steamboat Lake appeared as did the Bears Ears and Sand Mountain in all of its glory.

 

Not everything was perfect however. It was clear that the Pine Beetle infestation is taking and will continue to take a tremendous toll from our lovely forests for decades to come. Of course in the middle of it all was the Sleeping Giant that you could see from almost any other place in the valley. I thought of the old Ute Indian legend that this sentry would rise up and protect the valley from any evil that might befall it. Even from the air this majestic figure gave me the sense of comfort knowing that all is well.

 When we landed I thought about the past two hours and came away with the same conclusion that I have formulated from visiting all these areas by foot or car in the past. Routt County sure has a lot of “pretty”!

What’s Selling in Steamboat, Part 2

Sunday, March 22nd, 2009

By Susana

Yesterday I shared with you, here on our homepage, the Steamboat Springs real estate sales’ numbers from January 1st 2009 to March 21, 2009 (post can be found in our Blog). To compare it to this same period in 2008 and 2007, the Total Sales, Sales Pending and New Listings numbers look like this:

                            2009     2008     2007
Total Sales:              38        133       207
Sales Pending:         29           6          3
New Listings:          332         51          7

Is there any question that this is a buyer’s market? The numbers are all inverted, meaning there is a lot of available inventory to pick from, and for the most part you can take your time looking, analyzing and selecting the property which best suit your needs. The best terms can also be had now because of the historically, incredibly low mortgage rates, in addition to many sellers being willing to be flexible and creative with terms such as move-in dates, covering repair of inspection items, etc. And now, regarding getting the property at the best price? What if we look at what a home sold for, compared to what the asking, or list, price was?
_________________________________________________________________________________
2009
                   HIGH            LOW         AVERAGE        MEDIAN        TOTAL $        LISTING# 


LIST $:          $4,200,000,      $42,500,     $670,390,        $399,250,       $25,474,820          38
SOLD $:        $4,100,000,      $40,000,      $624,318,        $370,000,      $23,724,120
DOM:                  718                 24                 240              204 
Sold/List $:         98%               94%            93%             93%                    93% 
 ________________________________________________________________________________________
2008

LIST $:         $5,850,000,       $10,000,      $646,041,       $385,000,      $85,923,500              133
SOLD $:       $5,400,000,          $8,000,      $616,983,       $374,900,      $82,058,833
DOM:                 1756                    0                   265                127   

Sold/List $:          92%              80%               96%               97%            96%_________________________________________________________________________________________
2007
LIST $:          $5,000,000,         $25,500,     $579,572,      $365,000,     $119,971,423         207
SOLD $:       $4,375,000,         $21,000,       $558,575,      $357,500,    $115,625,142
DOM:                1004                    0                 179                 102                               
  
Sold/List $:      88%                  82%                  96%                98%              96%
____________________________________________________________________

If I ignore the fluctuations of the highest and lowest priced properties, I can see that the average home, which sold for 96% of the asking price in both 2007 and 2008, dropped only 3%, to 93%, this year. The median dropped 4 to 5%, and the total again only 3%. And when you look at the actual average and median prices, you see that they have increased each year!
 
So yes, total transaction numbers have dropped tremendously (207 transactions down to 38), as well as total sales in dollars ($116K down to $24K), but average prices have gone up ($559K to $624K), as well as median price (358K to 370K).
Bottom line: Lots of properties to choose from, great mortgage rates if you can qualify, or maybe you have cash, and although prices have been rising it does show that Steamboat real estate prices have been, so far, recession proof. Or, others could argue that the prices are unrealistically high, given the economic pulse, and that is why so few have sold. Will they stay that way, or start dropping? You’ll have to stay tuned! Our take: We’re expecting to see some price drops, at least until the market turns around, at which point prices will be heading back up. 
P.S. If you noticed and are wondering why the most expensive properties had so many days on the market (DOM), they were all new-construction spec homes, which were listed maybe even before they broke ground, and didn’t go under contract until they were closer to their completion date.

Stagecoach Tap Fees Soar

Sunday, February 15th, 2009

By Kristin-It’s another wonderfully long President’s Day weekend here in Steamboat, with beautiful, sunny skies and the ski area reporting powder/packed powder conditions with a 69” base.  The conditions are fantastic, so try to get out and enjoy the sunshine.Owners and prospective buyers of vacant land in Stagecoach received bad news yesterday when the Steamboat Pilot reported that the flat-rate tap fee was increased from $8,000 to $30,000, effective January 1, 2009.  Stagecoach is served by the Morrison Creek Metropolitan Water and Sanitation District, which deemed the increase necessary due to its aging water plant.  20 percent of the fees will go into the capital fund, which is reserved for replacing or renovating the plant. This rate is now the largest tap fee in all of Routt County.   The only other tap fees which come even close are within the city of Steamboat, where the tap fees are based on a point system, but only the largest homes and duplexes will exceed $20,000.Happy Valentine’s Day!  Make a difference in someone’s life – let them know how much they mean to you!