Steamboat Springs, CO Real Estate News

By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
The Steamboat Wine Festival kicks off tonight with the “Wine on the Mountain Kick Off” event at the top of the gondola. It is one of the events that sell out every year, but don’t worry if you don’t have a ticket. You can drink wine at all the various tasting events from the time you wake up in the morning until the time you crawl back to your room. (I know, professional tasters rarely swallow the wine and rarely drink too much, but these events are for amateurs, so get Alpine Taxi on speed dial just in case. Their number is 970-879-TAXI (8294).) Other popular events are the Stroll of Steamboat Friday afternoon where you can walk around to various retail locations in Steamboat and taste wine and appetizers.  You need to check in at the tent on the court house lawn to get your glass, the...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Ski Time Square in Steamboat Springs, Colorado is being demolished to make room for a new base area. In the next few years, all the old brown buildings and Thunderhead Lodge will be replaced with a new Steamboat Ski Base Area. Here are photos as the deconstruction progresses. Photos start in October of 2007 and will be added periodically. Call Eliese at (970) 819-6372 for the latest Ski Time Square news. Visit SteamboatHomeSales.com for more information on Steamboat Springs and Steamboat Springs real estate.
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
In case you missed it among all the bad real estate press, $100,000,000 in Steamboat Springs real estate sold last month (June 2008). Yes, the Steamboat Springs real estate market is slower this year. Heck, over $1.5 billion in real estate sold in 2007–an all time record. It was bound to be slower this year just because of the massive amount of property that changed hands last year. Throw in a slower economy and tighter credit, and–what a shocker–less real estate is being sold this year. That doesn’t mean the sky is falling in. As I just mentioned, $100,000,000 in real estate sold last month. This week, there were 6 Steamboat Springs properties that sold last week and 13 Steamboat properties that went under contract. The average days on market for homes under contract was 51 days. If pr...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
The Steamboat real estate market continues to defy the national housing market’s doom-and-gloom headlines. Prices from June 2007 to June 2008 are up over 6%. In fact, The Average Transaction Price for Steamboat Springs real estate is reported to be $719,799 a 6.25% increase over the average transaction price for the same time YTD last year. Median Transaction price for Steamboat real estate is also up from $389,000 to $400,000 compared to the same time YTD last year. 57% of the Steamboat real estate Residential Improved Units Sales for June were in the $1 Million and above price range, compared to only 45% last June. Over $100,000,000 in Steamboat real estate was sold in June 2008 What does that mean for buyers interested in Steamboat real estate? Our market has definitely slowed as som...
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By David Baldinger, Jr.
(Steamboat Sotheby's International Realty)
Are you wondering what is going on with the redevelopment of Ski Time Square and the Thunderhead Building at the base of the Steamboat Ski Area? Well, they have recently started demolition on the buildings across from Torian Plum and Creekside at Torian Plum.  Last week, Mother's Deli was taken down; today they have already removed the Butcher Shop building and are making their way toward Dos Amigos.  Current plans are for The Tugboat to remain open at least through the winter season for 2008/2009, and potentially longer. The goal is to recycle furnishings and salvage building materials to the maximum extent feasible, while completing the demolition/deconstruction project before this winter.  General contractor GE Johnson will oversee deconstruction and recycling, asbestos abatement, bu...
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By David Baldinger, Jr.
(Steamboat Sotheby's International Realty)
The Steamboat Season Pass for 2008/2009 is currently available.  It offers unrestricted all-mountain skiing and riding throughout the season. There are no block out dates, with the exception of Scholarship Day on November 26, 2008. (Traditional opening day Steamboat Springs Winter Sports Club benefit.) The going rates for the Season Pass if purchased before August 15, 2008 are as follows: Adults $979, Teens (age 13-17) $529, Children (6-12) $289, 5 and under $30. The rates will increase after August 15, 2008 till November 15, 2008, and again if purchased after November 15, 2008. Family specials are available.  For more information regarding getting your Steamboat Springs all-mountain pass, please visit http://steamboat.com.
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By David Baldinger, Jr.
(Steamboat Sotheby's International Realty)
            Over the last year, it has been difficult to avoid the press coverage about the negative trends and lagging real estate markets in most areas of the country.  With many U.S. markets experiencing rising foreclosure rates, drops in property values in excess of 10% and problems with oversupply of inventory, there has been little good news in the "national" real estate market over the last 12-18 months.  Steamboat's real estate market, in contrast to the national market, has been filled with good news.             Consider the following positive trends . . . for the first time in history our market topped $1.5 Billion in total sales for  2007 with dollar volume, unit volume and average price per unit all up an average of over 30%!  While the total sales volume in 2007 set an all...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Steamboat Springs Average and Median real estate prices continue to climb, contrary to all the national media headlines reporting how national real estate prices are in a downward spiral. In fact, according to Bruce Carta of Land Title, year-over-year prices are up from May 2007 to May 2008: Steamboat real estate Average Transaction prices increased 9% Steamboat real estate Median Transaction prices increased 20% Looking at the last two years, year-over-year prices from May 2006 to May 2008 are: Steamboat real estate Average Transaction prices increased almost 50% Steamboat real estate Median Transaction prices increased almost 35% Visit SteamboatHomeSales.com for more Steamboat Springs Real Estate information. Call (970) 819-6372 or email Eliese for more information on specific neighbo...
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By David Baldinger, Jr.
(Steamboat Sotheby's International Realty)
I just wanted to invite anyone with a question concerning Real Estate to feel free to ask.  For over 15 years I have been a top performer in the sales of major developments, including residential, condominium and commercial ventures here in Steamboat Springs.  I was a past President and am a current Board Member of the Steamboat Springs Chamber Resort Association, served 8 years on the Steamboat Springs Planning Commission and am a board member of the Yampa Valley Construction Trades Association. I am proud to have been recently honored with the Navigator Award as Steamboat's 2007 Business Leader of the Year.  I do not have the opportunity to check my blogs daily, so if after a couple days you do not get a response from me, please feel free to call me at the office at (970) 879-7800 ext...
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By Anne Mayberry, Living the Steamboat dream since 1978!
(Steamboat Sotheby's International Realty)
Okay gang, the writing is on the wall...whether your current market has bottomed out or not. With Bernanke's current comments on inflationary concerns, a rise in interest rates is probably approaching.  Any rise in rates would most likely wipe out realized savings in further downward adjustments in home prices.  If you continue to sit on the fence, the time is now to sit no more.  Further indications are that home resales are increasing, another sign that prices may have bottomed out.
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Prices for Steamboat Springs Real Estate for the first 4 months of 2008 are Up, and Dollar Volume Sold is Down, according to the June 8th Steamboat Pilot. Steamboat Springs single family homes saw average prices rise from $1,175,000 to $1,544,000. Price per square foot for Steamboat single family homes increased from $355 to $485. Steamboat Springs Condo prices increased from an average of $488,000 to $575,000. Price per square foot for Steamboat condos increased from $341 to $409. While the prices for Steamboat homes and condos increased, the number of units sold was about  half the number sold in 2007.  Remember, we had a huge run up last year when Intrawest purchased the Steamboat ski mountain.  Our 2008 sales are similar to our 2006 sales, which would probably be considered a more "...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Last week, with the Steamboat Springs high school graduation, school ending, relatives visiting, and real estate showings, I didn't get a chance to post the week in review. So this week, I've included the sold and pending information for two weeks. (This information doesn't include the $45,000,000 sold last Friday at the Edgemont sale. Buyers at Edgemont signed paperwork and put down deposits, but the sales won't be recorded until the Certificates Of Occupancy are signed 18-24 months from now.) Here is the Steamboat Springs Sold and Steamboat Springs Under Contract numbers for the last two weeks: There were 23 Steamboat Springs and Routt County properties that sold. Twenty of them were Steamboat residential properties, mainly Steamboat condos near the ski mountain. They ranged in price ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Edgemont, the anticipated ski-in, ski-out Steamboat real estate development, had its Selection Event on Saturday. Over $45,000,000 in real estate was sold in one day with an average sales price of over $2,000,000! The Edgemont real estate launch shows that luxury Steamboat Springs real estate is in demand, even as some real estate markets around the country continue to slide. Read press release here. Edgemont is one of several new ski-in, ski-out properties at the base of the Steamboat Ski Mountain. Others include One Steamboat Place, where there are only two whole ownership condos left (although they have plenty of fractionals available). The Century 21 office is directly across from Thunderhead Lodge, where we see pre-demolition activity all day. Thunderhead Lodge is coming down this ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Before Intrawest purchased Steamboat, the mountain village at the base of the Steamboat ski area was out dated.  It was like walking into a ski condo built in the 1980s that was never remodeled–think orange shag, dark brown trim, avocado green appliances.  The only people looking to buy those types of condos were the ones that had vision.  They knew with a little work, the places could look great. Well, that’s what the Steamboat base area was–a ski area sorely in need of a remodel. Steamboat Springs, Colorado is beginning a multi-year, multi million dollar make-over that will transform our base area within 5-7 years.  Those with a vision know that buying real estate now, while the construction vehicles are all over the place and the buyers are waiting to see if the negative press is ri...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
The Steamboat Grand Resort Hotel is the only 4 diamond hotel in Steamboat Springs, Colorado.   The Steamboat Grand has several floorplans and offers studios, 1,2,3,and some 4 and 5 bedroom penthouses.  It is located right across from Gondola Square and has full amenities including a pool, two hot tubs, several restaurants and coffee shops, ski rental, ski storage, a spa, and an owners lounge. Fractional ownership is available in  1/8th, 1/4th fractionals so the weeks rotate each year. For a 1/8th, you own one week out of every 6 weeks.  Each ski season offers several great ski weeks.  For a 1/4th, you'll get about a week a month. Floor plans differ so prices vary.  Most have several lock-off possibilities so the rental opportunities are increased.  Rentals will cover some to all of the ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Steamboat Springs Real Estate sales are picking up after a slower first quarter. Ten Steamboat Springs properties sold last week for an average sold price of $922,000. They ranged from two weekly timeshares to Steamboat ski condos to several Steamboat single family homes. Eighteen Steamboat Springs properties went under contract/into escrow last week with an average price of $698,485. One was in Hayden, 13were Steamboat Springs mountain area condos and townhomes, 2 were Steamboat Springs land parcels, and 2 were Steamboat Springs commercial/industrial properties. The average days on market for the real estate in escrow was only 43 days, with three Steamboat properties going under contract in four days or less. Complete details are below: Steamboat Real Estate SOLD PROPERTIES   Days on M...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Edgemont, the newest ski-in, ski-out Steamboat Springs real estate development, is having its selection event May 30, and it’s not too late to get involved. Anyone who purchases an Edgemont unit on May 30 will get the Absolute Best Pricing and save 5% of the purchase price over Buyers who purchase on May 31st. Buyers will also get one year free HOA dues. There are only 42 Edgemont units available and plenty of interested buyers, because no other brand-new ski-in, ski-out developments in Steamboat Springs will be available before 2010. (Only 2 units at One Steamboat Place are left. All the other One Steamboat Place residences are sold.) If you are interested, call today at (970) 819-6372 or email Eliese. Several things need done ASAP to purchase a place at Edgemont, but it’s worth it to ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Steamboat Springs Real Estate Profile: Heritage Park Boundaries: Heritage Park is located about five miles west of Steamboat and is bordered by US 40, the Steamboat Golf Club, the Christian Heritage School and the Yampa River. Brandon Circle and Lindsay Drive loop through Heritage Park. The Neighborhood: Heritage Park is a neighborhood with a sense of community. The families host a neighborhood Halloween trick or treat night and residents regularly are out in their yards or walking around Brandon Circle. Homes in Heritage Park are all less than 10 years old. The lots range from .18-.47 acres and most homes range from 2000-3000 square feet. Some homes along the outer edge of Brandon Circle overlook the Steamboat Golf Club and Yampa River. Why it’s a Good Buy: Single Family homes feature ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Like the rest of the nation, Steamboat Springs real estate sales have slowed. Credit is harder to get, and buyers are sitting on the sidelines waiting to see how the real estate drama plays out before making a move. Who wouldn’t? The headlines talk about how awful the real estate market is in some parts of the country and everyone thinks the bad news also applies to their neighborhood. First, the facts. The median price for Steamboat Springs real estate is up 4% over last year. The good news for real estate buyers is that Steamboat is a buyer’s market right now. That means if you’re looking to purchase, you have your choice of homes and can take some time to find the perfect one. You don’t have to settle for a place you saw for ten minutes before making an offer. You might even get a l...
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March 08 Highlights for Steamboat Springs and Routt County ColoradoThe overall Average Transaction Price was up to $687,037 for March 2008 compared to $645,077 from March of 2007 The overall Median Transaction Price was up to $432,500 for March 2008 compared to $350,000 from March 2007. Year-To-Date for Residential Improved Units - Price Point Summary the following Price Points have remained strong compared to the same period for 2007; •1.       $800,001 to $900,000 Sold for 2007 - 10 compared to 9 for the same period through March 2008•2.       $900,001 to $1,000,000 Sold for 2007 - 4 compared to 5 for the same period through March 2008•3.       $1,000,001 to $1,500,000 Sold for 2007 - 13 compared to 16 for the same period through March 2008•4.       $1,500,001 to $2,000,000 Sold for 2...
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