Steamboat Springs Colorado Real Estate
New Listings for the Month of March
$205,000
Steamboat Springs
Five Beds, Five or More Baths
$280,000
Hayden
$3,200,000
Steamboat Springs
$625,000
Steamboat Springs
Three Beds, Two Baths
Real Estate Round Table
by Chris Paoli, Broker
Recently, I had the opportunity to hear Randy Rowe of Green Courte Partners speak at a real estate round table with some of Steamboat Springs real estate professionals. Mr. Rowe is currently the Chairman of Green Courte Partners, LLC, a private equity real estate investment firm focusing on niche strategies. The agenda for the day included home prices, U.S. gross domestic product and unemployment.
To begin the round table Mr. Rowe gave a 30 minute PowerPoint presentation, discussing the current housing market and economy. Some interesting statistics:
-The Case-Shiller home price index is up 4.8% from its bottom
-From the chart below you can see there is a big difference in the price drop for home prices in different areas. Areas such as Miami, Phoenix and Las Vegas show the greatest decline in values. This is primarily due to the extensive overbuilding and speculation.
Steamboat 700 Update
On March 9th, 2010, in a city-wide, mail-in election, the citizens of Steamboat Springs resoundingly said no to the annexation of the Steamboat 700 project. The annexation was defeated 61% to 39% with over 4,000 total votes cast. In December of 2009, the developer and the Steamboat Springs City Council reached an agreement for 487 acres of land west of town to be annexed into city limits. Following a citizen petition drive, the Council agreed to bring the final say to referendum vote of the people. At build out the project would have consisted of almost 2,000 homes and 380,000 square feet of commercial space. The developer had agreed to provide over $72 million in capital improvements over the development build out, which included funding for Highway 40 road work, mass transit improvements, fire station and a community center. Immediately after the vote, the project developer did not know what the direction would be in the next step with the parcel development.
What is the Market Doing?
The age old real estate question, especially in these times. We do know that in total volume the market was down in 2009 as compared to 2008 (see file below) but at the start of 2010 we are seeing an increase in showings and buyer inquiries. But to sum up the market in a nutshell, there are more sellers than buyers - a classic definition of a buyers market. Is now the time for you to make that dream home purchase in Steamboat Springs?
How Can We Help?
We hope you will find our web site to be a one-stop resource for your online real estate research. We're eager to tell you what we know about the local market for condos or homes, or preconstruction, or whatever is most interesting at the moment - that's where you'll usually find us! We delight in helping people succeed in this market, and when our clients come out of the transaction breathing that big sigh of relief, we're just as satisfied as they are.
So please, have a look around, and contact us with any questions you might have about the market or our services. No question is too mundane - we want to help!
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