July 2010

There are 7 blog entries for July 2010.

The developers of Wild­horse Meadows said this week that they intend to enter the city of Steamboat Springs planning process in the fall to seek a permit for a new housing project envisioned to meet resort homebuyers’ desires in a post-recessionary economy.“It doesn’t have a name yet, but our next project would be more along the lines of Wildhorse cottages,” Brent Pearson said Thursday. Pearson is chief financial officer and among the principals at Resort Ventures West, the owners representative of Wildhorse Land Co.The site is off Pine Grove Road, down a hillside from Steamboat Ski Area gondola. It is linked to the ski base by a privately owned, public gondola. The developers are approved for 700,000 square feet of building, they said. The next phase…
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Record-Low Interest Rates and a Scary Stock Market Are Prompting Investors To Sink Even More Money Into Their Homes

The housing crash has left at least 11 million people in the unenviable position of owing more on their homes than they are worth—and many more millions with properties worth far less than they paid for them.

But some might not be as trapped as they think.

Record-low mortgage rates and a new slump in home prices are presenting unusual opportunities in the housing market these days—even for so-called underwater borrowers.

Some intrepid homeowners are intentionally taking a loss on their current house—and writing a big check to retire their old mortgage—in order to buy twice the home for not much more money. Others, eschewing

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The newly opened Sweetwater Grill on Yampa Street hasn’t escaped its history. Coolers marked with the names of Steamboat Yacht Club cooks still reside in the kitchen, and wooden beams from the former restaurant are still in place. As they admire the new upstairs lounge area and rooftop patio, Sweetwater Grill employees aren’t in a hurry to forget what the renovated space used to be.The Sweetwater Grill opened Monday and can accommodate 250 diners. The restaurant has a private dining area for parties, an indoor main dining room and outdoor patio seating along the river. Owner Kim Haggarty said one of her goals is to make sure everything about the restaurant stays local.“We’re trying to use as many local ingredients in our menu as we can,” she said. “We use…
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Frontier Airlines will provide daily winter service between Denver International Airport (DEN) and Steamboat/Hayden Airport (HDN) with one daily roundtrip flight for the upcoming 2010/2011 winter season. "Frontier travelers now have convenient flight options to reach Steamboat and its incredible Champagne Powder® snow this winter from over 25 key markets across the country," said Andy Wirth, senior vice president of sales & marketing for Steamboat Ski & Resort Corporation. "As a result of the state-of-the-art airport facility and a direct flight program built upon convenience and a variety of options for guests, Steamboat’s direct flight system is unmatched within the industry and truly a key differentiator and competitive advantage for this community."

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Average rates on 30-year fixed-rate mortgages reached their lowest levels in more than 50 years this week. On Thursday, rates tracked by HSH.com hit 4.69%, down from 4.75% on Wednesday and an average 4.85% last week.

Freddie Mac also said on Thursday that rates this week had fallen to an average 4.69%, which is the lowest level recorded since it began its survey in 1971. Brokers were quoting rates as low as 4.25% on 30-year loans on Thursday for well-qualified borrowers.

HSH.com says you’d have to go back to at least the 1950s to find comparable rates—and those may not be perfect comparisons given how different the mortgage market was back then.

Rates have fallen over the past month, first as the European debt crisis sparked a flight to safety that

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The National Association of Realtors® commended Congress for timely passage of the bill to extend the home buyer tax credit closing deadline.  The bill, strongly supported by NAR, had cleared the House earlier and were passed by the Senate. They now head to the president for his signature.

The tax credit closing deadline and the NFIP reauthorization were extended to September 30. NAR worked closely with congressional leaders on both sides of the aisle to enact these important pieces of legislation. Extending the tax credit closing and flood insurance deadlines will help provide additional stability to real estate markets across the nation, NAR said.

“What a great way to begin celebrating our nation’s most patriotic holiday by opening the door to the

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