Steamboat Springs, CO Real Estate News

By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
Hi Front Range Riders and Skiers! Or anyone else for that matter that can do some quick math and wants to get a tour of some of Colorado's finest ski resorts... Get your $99 Pow Pow Platter (http://www.powpowplatter.com/ ) that allows you one day at each of the Colorado Intrawest resorts (Steamboat, Copper Mountain and Winter Park) They say supplies are limited. I'm sure you can find a great deal on lodging up here and take advantage of a $33 lift ticket....buy a couple and get a few great weekends or weekdays at each resort! More from the Steamboat website: COPPER MOUNTAIN, WINTER PARK AND STEAMBOAT SERVE UP THE POW POW PLATTER FOR ONLY $99 Tuesday, December 16, 2008   Copper Mountain, Steamboat Springs and Winter Park, CO-December 16, 2008-Imagine an infusion of distinct individual fl...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
The YTD average price of a single family home in Steamboat Springs is $1,002,983.00, according to information supplied by Bruce Carta of Land Title. Other resort markets in Colorado had average prices of: $5,159,207 in Pitkin County/Aspen and Snowmass $1,595,430 in Eagle County/Vail and Beaver Creek, $828,748 in Summit County/Breckenridge, Copper Mtn and Frisco. Total sales volume this year is $647,000,000, which is way down from previous years.  All of the Colorado resort markets–and the rest of the country–have seen a big slow down in real estate sales. Routt County has seen the biggest drop in average prices among the resort markets.  I’ve been trying to figure out why, but my initial thoughts are based on two reasons: Last year was the year Intrawest purchased the Steamboat Ski Area...
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
I would be remiss today if I didn't report on the nearly foot of white-fluffy-airy-champagne stuff that many are enjoying on the mountain. For those who did not stay up too late last night and got their behinds out of bed to get first tracks....Congratulations! As for me, I was part of the crowd that was up too late and missed out on the sick skiing that has been reported. To top it off, we now have 2000 acres open! Sunshine and Priest Creek areas opened up, providing access to 3,668 vertical feet of skiing and riding. For the latest on conditions, weather & calendar of events and all things about the mountain visit: www.steamboat.com For the latest on real estate, Steamboat lifestyle and more visit me at: www.YourSteamboatHome.com
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
I write the Steamboat Real Estate Week in Review to give buyers and sellers of Steamboat real estate real numbers they can use when making offers, evaluating prices, and listing their homes. It's a starting point for those looking to purchase a house in Steamboat or determine trends for the house you own. Statistics like days on market and list-to-sold ratios are guidelines, or pieces of the valuation puzzle. The stats are the “big picture” which is made up of dozens of smaller Steamboat micromarkets. For example, I don’t list the Days on Market anymore because we’ve seen a whole lot of listings on the MLS appear as “withdrawn” one day and “new listing” the next. The real estate hasn’t changed; the days on market, however, changed from 175 to 1. Unless your Realtor is aware of the Steam...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
What is Champagne Powder? If you ski in Colorado, you’ll hear other resorts talking about Champagne Powder, but they’re just posers.  Only Routt County has true champagne powder snow, and you’ll only ski it in Steamboat. Champagne Powder is drier and fluffier than regular snow.  Where it takes 12″ of regular snow to make an inch of water, it takes 30″ of champagne powder to make an inch of water.  The technical definition for Steamboat’s Champagne powder is “heaven on Earth” or “pure bliss”. Some days we get “wild snow”, which is even drier and fluffier than usual.  When the water content is less than 4%, that’s wild snow.  (Most champagne powder averages 4%-11% water content, and the cement that falls in the Sierras and the East is at least 11%.) This week, it SNOWED! Check out Steambo...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
I was at the annual Steamboat Grand Owners meeting last weekend and I'm happy to report there is lots of good news at the Grand.  Rentals are up at the Steamboat Grand, compared to general occupancy in Steamboat, meaning more revenue for fractional owners.  Thunderhead Lodge is being demolished so there are fewer slopeside condos available for guests this winter.  That is good news for the Grand and good news for owners there who like to rent their units to pay for their HOA fees.  The Grand just installed new flat screen tvs in all the rooms and replaced all the bedding with luxury duvet covers and coverlets.  Owners have free ski storage (in this era of charging for every bag you take to the airport, you don't have to take your skis home with you.  The Grand will store them between vi...
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SPEND YOUR MONEY HERE IN THE BOAT"STEAMBOAT THAT IS! WE NEED  YOU AT THE GROCERY STORES'WE NEED YOU AT THE CLOTHES STORES AND MOST OF ALL IN OUT OF OUR REAL ESTATE OFFICES' BRING YOUR MONEY AND BUY"BUY" IN STEAMBOAT, OAK CREEK, YAMPA, CRAIG,ALL OVER  BUT JUST SPEND AND SPEND,,,
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By Luke Rummell
(A1 Realty.Com)
SKI SEASON IS ON THE RISE" THAT MEANS THAT YOU NEED TO GET YOUR SKI PASSES' YOUR HOMESITES ALL WITHN THE TIME OF THE SKI SEASON. SEE MY LIST OF RESORTS.. SKI AND SKI IN COLORADO. WE WANT YOU AND YOUR$$$ HERE$$$
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
For the first two weeks in September, 16 Steamboat properties sold and 16 went under contract.  The list-to-sold price still averages 95%, so we’re still not seeing the huge price drops other areas of the country (like California and Florida) are seeing. There are deals out there if you know how and where to look.  (Tip:  Use a good Realtor.)  But many Sellers are still turning away low offers, choosing to wait for their asking price or wait until the Steamboat real estate market continues to appreciate. Some areas remain strong, especially Hayden single family homes and higher end luxury homes.  One buyer group taking advantage of the Steamboat buyers’ market are trade-up buyers.  Second homeowners who purchased a place in Steamboat several years ago are using the softened market to p...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
  Fractional ownership at the Steamboat Grand continues to sell in the softened Steamboat real estate market.  The Grand is purchased by second home owners who want to have a 4 star place to stay at a "fraction" of the price ofwhole ownership and by locals who like the covered parking near the slopes, on-site ski storage, owners lounge, and fabulous pool area.   There are 20 places currently available at the Grand with different floorplans and calendars.  The prices depend on:   the floorplan, the view, the calendar--ones that include the 2008 Christmas week tend to be more, owner motivation to sell.   If you would like more information on the Steamboat Grand (including floorplans, calendars, or HOA info) or other Steamboat Springs fractional properties, please call me at (970) 819-6372...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
  Steamboat 360 Steamboat 700 Location Borders Steamboat II and Silver Spur’s Western edge Borders Silver Spur’s Eastern edge Access Road US HWY 40 and RCR 42 US HWY 40 and New Victory Parkway # Acres 350 700 # Acres of Open Space 140 221 # Projected Homes 600-650 1800-2200 Project Mix Rental apartments, entry-level homes, Estate homes, shopping, restaurants, grocery store High density mixed residential, Village Center with shopping, restaurants, grocery store, school, fire station Major Hurdles: Not adjacent to City of Steamboat; some acreage outside the West of Steamboat Springs Area Plan (WSSAP) Didn’t get urban growth boundary enlarged to include 185 acres, so Steamboat 700 has been pared to 515 acres. Project Manager Tony Connell Danny Mulcahy Public Benefits 60% Affordable Housin...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Hayden, Colorado is the new Routt County real estate hot spot this week as Steamboat luxury homes (which have been selling really well) take a breather. Hayden properties are an affordable alternative to Steamboat Springs (Read 5 Reasons To Buy in Hayden here), but also are attractive to the oil and gas workers who work in Craig (25 miles west of Hayden). 40% of the homes sold this week were in Hayden, CO, and 42% of homes that went under contract are in Hayden. Homes are selling for an average of 94% of list price, so there is room for negitiation if you are a buyer. Would you like more information about the Steamboat real estate market? I’d be happy to answer your questions about Steamboat real estate and opportunities to buy in Routt County. Please call Eliese at (970) 819-6372 or em...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Steamboat Springs real estate is moving briskly--if you are buying or selling property over $4 million. Four Steamboat properties sold in July between $4,500,000 and $8,200,000. 7/31/2008 $8,200,000 South Routt Ranch 7/10/2008 $4,950,000 South Routt 77 acres vacant land 7/24/2008 $4,700,000 North Routt Area 7/ 3/2008 $4,500,000 Downtown Commercial and Restaurant Since the beginning of the year, 42 Steamboat properties have sold or gone under contract over $2,000,000 for an average selling price of 92% of list price. Steamboat Luxury Homes that have sold since January 2008 include: Develop ADDRESS LP SP North Routt Luxury Home RCR 209 $1,998,000 $2,000,000 Steamboat Ski-In, Ski-Out Condos Christie Condos Ski Time Square Drive $2,559,000 $2,000,000 Steamboat Single Family Mountain Area Ma...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
  Edgemont is one of the newest ski-in, ski-out properties in Steamboat Springs. The Selection Event where people picked which unit to buy happened way back in May.   Since then, a lovely Steamboat summer has come and gone with only the one photo-op golden shovel of dirt being moved. I was up there yesterday and there are construction vehicles at work. Finally. My buddy Dennis Rush, the Edgemont specialist my buyers and I work with, tells me they are currently installing the water and sewer. The building will go up slower than Trailhead Lodge in Wildhorse Meadows because the building will be concrete vs. the frame construction of Trailhead. Edgemont sold about $45,000,000 worth of Steamboat real estate at their Selection Event in May, and units have been selling at about 1-2 a month al...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Routt County real estate is local. It’s so local that you need to look at Micro Markets to see what is going on. A Routt County micro market can be a type of real estate (condos) an area (Stagecoach) or even a neighborhood (Dakota Ridge). Here are some examples of how real estate is divided into micro markets: There is a 3 1/2 month supply of Steamboat real estate over $1,000,000 There is a 10 year supply of Stagecoach lots There is a 2 month supply of Steamboat condos under $400,000 Hayden had 19 sales/pending contracts since May 1st and Stagecoach has had only 5 sales/pending contracts–Even though both areas have similar populations. There are only 19 ski-in, ski-out places that range in price from a dinky one bedroom $335,000 Ski-Inn condo to a $5,575,000 luxury townhome at the base...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
  Last week, 4 Steamboat Springs real estate listings sold and 15 went under contract. Call Eliese at (970) 819-6372 for details on these and other available properties, and read more about Steamboat Springs real estate at SteamboatHomeSales.com. Steamboat Springs Real Estate Summary Report—August 18-24 Steamboat Springs RESIDENTIAL Real Estate - Sold   Steamboat Springs Summary Statistics   High Low Average Median List Price: $1,200,000 $65,000 $433,373 $325,000 Sold Price: $312,000 $55,000 $180,500 $177,500    Develop  ADDRESS  Days On Market  List Price  Sold Price  $/Tot Sq Ft Steamboat Grand 1/8th Fractional Grand Summit Resort Hotel (The Grand)  2300 Mt Werner Cir.  210  $83,000  $81,000  $55.33 Craig, Colorado Single Family Home  E Ninth Street  139  $299,995  $274,000  $125.34 W...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
5 homes sold last week and 10 went under contract.  High end properties and lower end properties continue to do well.  Steamboat homes under contract are well-priced homes with an average days on market of 81 days. For more details about these properties or similar properties, call Eliese at (970) 819-6372 or visit SteamboatHomeSales.com.   Steamboat Real Estate Summary Report Steamboat RESIDENTIAL Real Estate- Sold Properties Steamboat Real Estate Summary Statistics High Low Average Median List Price: $4,250,000 $55,000 $1,078,518 $872,000 Sold Price: $1,500,000 $55,000 $769,750 $806,250 Develop ADDRESS DOM LP SP Craig, Colorado Single Family C.R. 81 161 $189,900 $182,000 North Routt Single Family Badger Meadows Subdivision Placer Place 217 $755,000 $632,500 North Routt Single Family S...
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By David Baldinger, Jr.
(Steamboat Sotheby's International Realty)
David Baldinger Jr., a principal in Steamboat Village Brokers, agrees that the advent of new products in a couple of years will signal a change in the market. Current property owners are taking a wait-and-see attitude as projects such as One Steamboat Place go through their marketing period, he said. At present, inventory is restricted and there isn't a lot for those owners to trade up to. "Everyone is holding and remodeling," he said. "In 24 months, you'll see the inventory expand." The sale of the Steamboat Ski Area for $265 million to Fortress Investments/Intrawest, coupled with a drop in interest rates, is helping fuel interest in the Steamboat real estate market. Baldinger Jr. said it would be a mischaracterization to describe the first-quarter jump as an "Intrawest bounce." He sai...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Everyone wants to know how the real estate market is doing in Steamboat, so I thought I’d find out.  When you look for Steamboat real estate, the town is divided into three main areas: The Mountain Area are all the houses, condos, townhomes, and fractional ownership places around the market and down to Pine Grove Road. The Downtown Area includes real estate in Old Town, Fairview, and west to CR 129. Fish Creek Falls Area which includes Fish Creek Falls Road, Hilltop Parkway, the Sanctuary, Elkins Meadow, Steamboat Blvd. and Tamarack Drive, Rocky Point, Mountain View Estates, and everywhere in between. When I looked up how many places actually sold, I only looked at Steamboat real estate and only residential units.  I didn’t count vacant land or commercial real estate.  The results were...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Coming to Steamboat to golf? Looking for Steamboat real estate on a golf course? You'll find both in Steamboat Springs. Steamboat has four golf courses, and three of them are open to the public. You can play Haymaker, Steamboat Golf Club, and Rollingstone Ranch Golf Club (formerly the Sheraton Golf Club) or get to know a Catamount member and go with them. Steamboat Springs is a great place to golf or purchase a luxury golf home because we're located at 7000 feet--thousands of feet lower than most Colorado resorts. What that means to Steamboat Springs golfers is the snow melts earlier in the spring and comes later in the fall so you can spend more time on the fairways. And your drives will go 10-15% farther in Steamboat's thin mountain air. If you are moving to Steamboat (either as a ful...
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