Steamboat Springs Trailhead Lodge Auction December 15th, 2012

Sunday, December 9, 2012

See more details about Trailhead at Wildhorse

Steamboat Springs skiing, is just a step out the front door and a quick gondola ride that takes you to the base of the Steamboat Ski Area. Trailhead Lodge are elegantly decorated condominiums feature hardwood flooring, granite counters, large decks offering spectacular views of the Steamboat Ski Area and Yampa Valley.
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What’s Cooking at Trailhead Lodge

Trailhead Lodge auction is coming up quickly December 15th, 2012. New pricing for Trailhead Lodge at Wildhorse Meadows offers an attractive deal for luxury condos in Steamboat Springs . Newly constructed, fully-furnished condos minimum bids are over 75% off of pre-construction pricing in 2007. A one bedroom + Den with spectacular views of Steamboat Ski Area minimum bid at the auction is $175,000. This is down from the original list price of $815,000 in 2007. Estimated 2012 property taxes for the same unit is $2349 and projected gross rental income information provided by Steamboat Resorts is over $29,000 per year.

I have viewed all the available condo’s and have personally selected some of the better units. Here is a link to video views from some select units.

  • **Registeration is required to be eligible, bidders should complete and return forms prior to Dec 13th, 2013 at 5pm.
  • *Auction day is Saturday, December 15, 2012 at 1pm and will last approximately 1 1/2 hours.]
  • *Home warranty plan. Seller will provide a 14 month home warranty.
  • *Bidders must provide a cashier’s check in the amount of $2,500.
  • *All sales must close on or before January 29th, 2013, (45 days after the auction).

You can bid on line or I can bid for you. There is no fee to you if I represent you, so call me for the inside scoop.
SkiCondos4Sale.com or call Dean Laird, Colorado Group Realty 970-846-8284.

See more details about Trailhead at Wildhorse

Face-lifts to Steamboat Condos The West, Phoenix and Kutuk raise real estate value

Thursday, September 13, 2012

See more details about Kutuk
See more details about West
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Renovation on several condominiums near the slopes of Steamboat ski resort should result in higher prices for sellers as this market continues to turn. The West condos removed the exterior siding and trim on all residential buildings and installed new building wrap material to help reduce moisture and air infiltration. Completing the new look is new stained cedar siding and trim. The West also updated all stair towers, put in a new “addressable” fire safety system, new railings, and new patios. Add upgrades to the wiring, sewer and other common area maintenance areas and the place is like new. The Phoenix condominiums and the Kutuk condos followed suit with compete exterior remodels in the works or recently completed. Some of the advertised prices don’t include the special assessment and that assessment can be significant. west.jpg The West phoenix.jpg Phoenix kutuk.jpg Kutuk Most Home Owner Association (HOA) docs are easily accessible online, if you have any questions about the status of an association, what assessments are planned, what’s done, and what to watch for, don’t hesitate to call me at 970-846-8284 Dean Laird Broker/Owner Colorado Group Realty

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See more details about Kutuk
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Ski in to Poolside at Edgemont in Steamboat Springs

See more details about Edgemont
See more details about One Steamboat Place

Edgemont put my family up for a weekend in one of the 3 bedroom condos this summer and they didn’t want to leave. Now I have a problem since the bar is raised so high, the guest bed in our house just isn’t going to cut it anymore for grandma. Steamboat weather was perfect and we had the place to ourselves. There isn’t another new luxury condo development that offers the views and solitude Edgemont condominiums offer - especially in the summer in Steamboat Springs.
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April 6th, 2011, Edgemont’s construction loan was paid in full due to strong sales activity over the 2011 winter season with 11 Residences sold. The 2012 season, 3 more units sold with a 5 bedroom, 4-1/2 bath closing at $2,875,000 = $775/Sq.Ft. The Ridge collection featuring 5 bedroom units is sold out.

So how is the market in Steamboat? Edgemont isn’t the only luxury condo development selling, One Steamboat Place sold $46,000,000 in inventory since they restructured their debt a year ago August. In the 1st half of 2012 there were $57,546,517 in sales of condominiums and townhomes in the mountain area close to the Steamboat’s ski slopes.
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Since Edgemont is the only option for new construction and luxury finishes in a 2 bedroom condo, the rentals are good.

2011-12 Ski Season for 2 bedroom slopeside condo.

Owner’s Use 3 Reservations 20 Nights $15,795.00 Gross
Rentals 13 Reservations 73 Nights $50,263.75 Gross

Nightly Rates 2012-13

Early/Late Season $ 620
Holiday $1525
Regular $1095
Early Holiday $1250
Value $ 860
HOA cost on a 2 bedroom with slope side views such as unit 2603 rentals above are $14,529/year.
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Only a 1 bedroom condo is left and priced at $550,000, Five - 2 bedroom condos from $895,000, five 3 bedroom condos from $1,195,000 and a 3 bedroom + den that looks over the Flattops and South Valley at $1,995,000 - This is reduced from the original pre-construction price of $2,709,000. Out of the remaining inventory, only 3 units are left facing the ski slopes. Personally, I prefer the South Valley views because in the winter, you have sun on your deck apres ski.
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See the price list here or call Dean in Steamboat for more information 970-846-8284.
Based on the recent trend of sales, this could be the last season to grab the best pricing at Edgemont ski-in ski-out condominiums.
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Bring the kids!

See more details about Edgemont
See more details about One Steamboat Place

Ski Country Lodge, a new Steamboat Springs condominium development proposed near the slopes of Steamboat Ski Resort

Monday, September 10, 2012

See more details about Edgemont
See more details about One Steamboat Place
See more details about Lodge

New construction near the slopes of Steamboat Ski Resort approaches a final development plan. Ski Country Lodge, a proposed 120 feet tall, eight story building is raising some opposition. The new building located at the intersection of Burgess Creek Road and Storm Meadows drive adjacent to Kutuk condos and down the hill from Bronze Tree Condos is designed to feature 74 condominiums offering 2 to 4 bedrooms.

The development plan proposes a total residential square footage of 138,362 and according to the Steamboat Pilot, cost estimates at $40,000,000 to demolish the existing building and rebuild. Add $11.5 million the developer paid for the land, cost to develop the project add up to about $374/SqFt.

Recent sales of newer luxury condos such as Edgemont have been selling for $600-$700 per square foot and One Steamboat Place from $673 to $948 per Square foot. It looks as though this project has potential for the developer as long as city council finds that the plan conforms with the community plan, mountain base area design standards and other criteria in the concepeptual development plan (CDC).
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See more details about Edgemont
See more details about One Steamboat Place
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Discounts and Incentives Offer Real Estate Deals for Buyers in Steamboat Springs, CO

Sunday, February 19, 2012

See more details about Edgemont
See more details about Howelsen Place
See more details about One Steamboat Place
See more details about Trailhead at Wildhorse
See more details about Trappeurs Crossing

Buyers looking for high-end, luxury condominiums in Steamboat Springs are in a great position to find some deals. A recent surge of price reductions and developer incentives has increased interest in some of the best properties on the market. Demand is still lagging supply, however there have been 16 sales over $800,000 for condos and townhomes in the downtown and mountain areas since November 2011, and our busiest selling season is just beginning.

The relative abundance of luxury real estate has sellers competing for buyers to keep this recent condo buying trend in motion. For example, the developers of the ski-in/ski-out luxury condos at Edgemont are offering to pay three years of HOA dues on the next sale of any of the 13 remaining condos. They are also offering two years of paid HOA dues estimated at $22,000 annually for the next phase of to-be-built four and five bedroom townhomes. And while the townhomes are being built, they will provide use of Edgemont Ridge condos for up to two weeks in both the winter and summer seasons!

Two other properties, Cimmaron Townhomes across the street from the Steamboat Ski Area, and Norwegian Log, an older ski-in/ski-out are also offering a price reduction.

Bear Lodge at Trappeur’s Crossing is offering 25% off the next sale of their remaining new 3 or 4 bedroom luxury condominiums located one block from the base of the Steamboat Ski Resort. The offer also includes paid HOA dues for 3 years.
Recently discounted pricing makes these high-end condos an attractive deal for anyone looking for resort properties. Listing prices are less than $500 per square foot.

Newly constructed Trailhead Lodge at Wildhorse Meadows slashed prices of its fully-furnished condos up to 50% off the original listings with prices now in the mid-$400 per square foot range.

Deals don’t stop at the ski area. In downtown Steamboat Springs condos in the newly constructed Howelsen Place and Alpenglow Lofts have incentives also. Up to 25% off at Howelsen Place and 35% at Alpenglow on the next two sales at each property.

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See more details about Edgemont
See more details about Howelsen Place
See more details about One Steamboat Place
See more details about Trailhead at Wildhorse
See more details about Trappeurs Crossing

Steamboat vacation rentals and alternative for condo owners paying upwards of 40% fees

Saturday, January 21, 2012

Planning to vacation in Steamboat soon? Our local management companies such as Steamboat Resorts and Resort Quest are top notch for service, but you may find as good or better deal using one of the internet companies.

Looking at the rental income statements for my Sellers using a local management company, its pretty typical to see only 50% of the nightly rental income ending up in the pockets of the owner. If the that owner lists with one of the following companies, then most of that rental income ends up in their pocket, allowing the flexibility to offer cheaper Steamboat condo and home rentals.

For most property owners trying to rent on their own, scheduling key service, cleaning, and maintenance is more of a burden then they want to deal with. For those who have a system they can offer some good deals on vacation rentals in Steamboat.

Here are a few examples:

http://www.airbnb.com/
http://VRBO.com
http://HomeAway.com

The New York Times reports on how to surf for a vacation rental.

If you have questions about rental investment real estate in the Steamboat Springs real estate market, condos and homes for sale or would like a list of the local vacation rental services, I’m here to help.

Dean Laird
Broker/Owner Colorado Group Realty
deanlaird@gmail.com
http://skicondos4sale.com
http://steamboatfinehomes.com

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Highmark and Trappeurs Crossing Condos close out 2011 with 15 sales in the Steamboat Springs Real Esate Market

Friday, January 6, 2012

See more details about Edgemont
See more details about Trailhead at Wildhorse
See more details about One Steamboat Place
See more details about Trappeurs Crossing

Deals at Highmark Steamboat Springs and Trappeur’s Crossing Condominiums in the Steamboat Springs real estate market were snatched up at nearly half the price/sq.ft. of other ski-in/ski-out real estate developments such as One Steamboat Place and Edgemont. Quality finishes and walk to the ski slope access made these deals even more attractive with Highmark selling from $355 to $455/sq.ft. in 2011; the price range was dependent on location and views, and 5 of the 6 sales at Highmark were distressed. Trappeur’s Crossing condos price ranges, including Timberline, Champagne, Aspen, Emerald and Bear Lodge, were from $320/sq.ft. for Timberline to the newer construction and higher quality finishes of Bear Lodge at $500/sq.ft. for a 5 bedroom. None of the Trappeur’s Crossings sales were distressed.

In contrast, One Steamboat place sales ranged from $629/sq.ft. to $926/sq.ft. for their premier property. These sale prices are 30-40% off their original release prices in 2007! Edgemont recently closed their 5 bedroom bunk house with the magnificant views for $780/sq.ft.; the top sale was $826/sq.ft.

Many more exceptional deals can be had at other ski-in/ski-out and close-to-the-slopes properties in Steamboat Springs. A few to watch include Trailhead at Wildhorse at about 50% off original list price, Eagleridge selling well below 2007 pricing and we’re beginning to see some better deals at Chateau Chamonix.

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See more details about Edgemont
See more details about Trailhead at Wildhorse
See more details about One Steamboat Place
See more details about Trappeurs Crossing

Its all about timing, time to watch the 3 & 4 bedroom ski-in condo market in Steamboat

Sunday, March 6, 2011

If I were a betting man and willing to pick a niche market where Steamboat has rounded the corner and say with some confidence that we have hit bottom: ski-in, 3-bedroom condos with newer finishes for under $1 million would be my 1st pick.

Torian Creekside is one property in this category. The best deals remaining there have a northeast view of the Steamboat Ski area. Absolutely fabulous views for now, but keep in mind a future development may get in the way of the view. Also, most of Torian Creekside residences built in 1999 could use some upgrading. Units 212, 312 and 418 have tile counters and cooks don’t like grout lines and ceramic tile counters. Replacing with granite or other solid surface such as quartz is a must. When the market rebounds in combination with a revitalized Ski Time Square, these are deals to watch from $650,000 to $1 million range.

Look past the Chateaux Chamonix check-in area which needs a bit of freshness and this property offers some options at or just slightly above the $1 million mark. 3 bedroom luxury condos in the C building range from just under $1m to $1.2m.

If you can afford more, now is the time to consider new construction while the deal is still on the table. Edgemont recently advertised 30% off the first 3 deals and they all sold. Then they offered 25% off the next 3 deals and those all sold. Now Edgemont is offering 20% off next 3. According to their sales staff one 3-bedroom is going under contract today. Prices reflect a discount off their pre-construction prices from 2007-08. Views, ski to the door, soak in the pool with one of the best views in the world, convenient, true ski-in/ski-out access to make shuffling the kids easier, this project lives up to its price with quality at around the $1.5 million mark.

If you don’t mind crossing one road to the slopes and looking for a bank owned real estate deal tax assessment value at around $2 million and newly listed at $794,000 you better hurry. Highmark at Steamboat is selling fast. I called today for an update to find out that 3 of the residences listed at bargain prices had offers submitted.

For more information on ski-in/ski-out condos, rental incomes and better values,

Contact:

Dean Laird
Broker/Owner
Colorado Group Realty
970-846-8284
Dean@mybrokers.com

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