Sunday, February 19, 2012
Discounts and Incentives Offer Real Estate Deals for Buyers in Steamboat Springs, CO
See more details about EdgemontSee more details about Trailhead at WildhorseSee more details about Trappeurs CrossingBuyers 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.
Technorati Tags: luxury condominiums, Steamboat Springs, luxury real estate, ski-in/ski-out luxury condos, Edgemont, Edgemont Ridge condos, Cimmaron Townhomes, Steamboat Ski Area, Norwegian Log, ski-in/ski-out, Bear Lodge at Trappeur’s Crossing, luxury condominiums, Steamboat Ski Resort, high-end condos, resort properties, Trailhead Lodge at Wildhorse Meadows, furnished condos, ski area, downtown Steamboat Springs condos, Howelsen Place, Alpenglow Lofts, Howelsen Place, Alpenglow, property
See more details about EdgemontSee more details about Trailhead at WildhorseSee more details about Trappeurs CrossingFriday, January 20, 2012
December stats for Steamboat Springs Real Estate / Routt County
Thank you to Stan Urban with Steamboat’s Land Title Company for the following real estate sales information.
December was a good month for Steamboat Springs real estate in Routt county with $47M in gross volume from 136 transactions, making it the third strongest in volume of the year and coming in +72% higher than last December in number of transactions. Luxury properties and large commercial purchase contributed to the strong December numbers.
All in all, it’s still a bit of a mixed bag. Our year-end Gross Dollar Volume of $450M, was slightly off 2010 (-12.01%) with transactions showing a slightly heavier decline of (-23.06%). There has been a high number of Fractional Sales we have had over the past 3 years.
Bank sales continue to be a factor with 18 this month.
Loans were up – with a total of 170 recorded for December, making December the highest transaction loan month this year.
Highest PPSF for December 2011:
12/30/2011: $2,825,000 Edgemont ski-in/ski-out Condo Unit 2803 aka 2410 Ski Trail Lane, #2803 – 5 Bedroom 5 Bath YOC 2009 with 3,642 SF Living Area. PPSF is $775.67. This is a new construction sale on Steamboat Mountain.
Highest Priced Sale for December 2011:
12/29/2011: $4,500,000 City South Subdivision Lot 1, Mid Valley Business Center #2 Lot 2, M&B: Sec 20-6-84 – 3 Commercial Parcels: All Vacant Commercially zoned, with a combined land size of 14.52 AC. This property is located at 1440 Pine Grove Road. PPAC is $309,917. This was a Bank Sale.
Other sales over $1.4M:
12/28/2011 $2,050,000 Sanctuary Subdivision #5 Lot 132 Re-plat aka 3050 Clearwater Trail - 4 Bedroom 4.5 Bath YOC 2006 with 5,808 SF Living Area on 1.48 AC Land. PPSF is $352.96.
12/14/2011: $1,425,000 Big Valley Ranch at Steamboat Subdivision #2A Lot 25 aka 28880 Skyline Drive – 3 Bedroom 3.5 Bath YOC 1992 with 4,636 SF Living Area on 36.10 AC Land. PPSF is $307.38
Technorati Tags: Steamboat Springs real estate, Routt county, Bank sales, Edgemont, ski-in/ski-out, Condo, new construction, Steamboat, Sanctuary, Big Valley Ranch
Friday, January 6, 2012
Highmark and Trappeurs Crossing Condos close out 2011 with 15 sales in the Steamboat Springs Real Esate Market
See more details about EdgemontSee more details about Trailhead at WildhorseSee more details about Trappeurs CrossingDeals 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.
Technorati Tags: Highmark, Steamboat Springs, Trappeur’s Crossing, Steamboat Springs real estate, ski-in/ski-out, One Steamboat Place, Edgemont, Timberline, Champagne, Aspen, Emerald, Bear Lodge, distressed, Trailhead at Wildhorse, Eagleridge, Chateau Chamonix
See more details about EdgemontSee more details about Trailhead at WildhorseSee more details about Trappeurs CrossingThursday, December 22, 2011
Routt County /Steamboat Springs Real Estate Market Update for Novemeber 2011
November was a great month for the Steamboat Springs real estate market, up quite a bit over last year’s November. (90%) Gross volume in November came in at $51,948,300, and had a total of 125 Transactions. This big shot in the arm leaves your YTD, Gross volume slightly off last YTD, but under -10%. Transaction wise, November was strong with 125 transactions, although general transaction numbers are still down.
There was strong residential activity in November. 66 of the transactions were for Improved Residential properties (up from 47 last month). In an addition, all of the Residential trend-point totals are showing up green. The upper end residential market was very favorable in November, as you’ll see in the Price Point summary and by the highlighted sales below.
Bank sales are also up this month with a total of 15.
Sales over $1.5M:
11/29/2011 $2,475,000 Robbins Subdivision Lot 117 aka 0674 Steamboat Boulevard – 5 Bedroom 6 Bath YOC 2007 with 7,305 SF Living Area on .60 AC Land. PPSF is $338.81.
11/7/2011 $1,850,000 Eagle Glen #1 Replat Lot 1, Eagleridge Lot 1, Block 4 aka 1451 Eagle Glen Drive – 4 Bedroom 5 Bath YOC 2004 with 4,741 SF Living Area on .31 AC Land. PPSF is $390.21
Technorati Tags: Steamboat Springs real estate, residential, Bank sales, Robbins, Eagleridge
Thursday, November 17, 2011
Freddie Mac Launches Winter REO Sale which includes the Steamboat Springs real estate market
HomeSteps, a Freddie Mac real estate sales unit, kicked off a sales promotion this week to unload some of its inventory of foreclosed homes in several cities which includes the Steamboat Springs real estate market
Its Winter Sales Promotion for owner-occupant buyers includes:
- Paying up to 3 percent of the final sales price toward the buyer’s closing costs for initial offers received between Nov. 15 and Jan. 31, 2012. Escrow must be closed on or before March 15, 2012, to qualify.
- Two-year Home Protect limited home warranty, which covers such things as the heating, air conditioning, electrical, plumbing, and other major systems and appliances. Home Protect also will offer a discount of up to 30 percent on the purchase of appliances. (For eligibility requirements, visit www.HomeSteps.com/smartbuy.)
For more information on the HomeSteps Winter Sales Promotion, visit www.HomeSteps.com or contact me.
Technorati Tags: Freddie Mac, foreclosed, Steamboat Springs real estate
Thursday, November 10, 2011
October Routt County Statistics for Steamboat Springs Real Estate
October is a mixed bag for the Steamboat Springs real estate market: down slightly from last month in volume, and down even more in transactions - however, all of the difference is in Interval closings, which were significantly lower than last month.
The residential market had a consistent and strong showing with close to the same numbers as last month, and a predominance of residential trend points that were trending higher. Also, you’ll find several upper end residential closings which are noted below.
Bank sales were down tremendously, with only 6 in October as opposed to 18 in September..
Highest Priced Sale for October 2011:
10/27/2011 $3,375,000 Agate Creek Preserve Subdivision Lot 1 aka 35375 Humble Road – 5 Bedroom 5.5 Bath YOC 2004 with 8,137 SF Living Area. 7.57 AC Land Area. Price per square foot (PPSF) $414.77.
Highest PPSF for October 2011:
10/6/2011 $2,030,000 One Steambaot Place Condo @ Après Ski Way Condo Unit R-418 aka 2250 Après Ski Way – 4 Bedroom 4 Bath with 2,420 SF Living Area. PPSF is $838.84. This is a new construction sale that is located in the Steamboat Mountain Area.
Other sales over $1.5M:
10/12/2011 $2,155,000 Werner Ranch Subdivision #3 Lot 2 – aka 34225 State Highway 131 – 4 Bedroom 5 Bath YOC 2008 with 4,199 SF Living Area on 35.020 Acres of Land. PPSF is $513.22. This sale is located in the South Routt Area.
10/31/2011 $1,500,000 One Steamboat Place Condo @ Après Ski Way Condo Unit R-103 aka 2250 Après Ski Way – 4 Bedroom 4 Bath YOC 2009 with 2,384 SF Living Area. PPSF is $629.19. This is a new construction sale that is located in the Steamboat Mountain Area.
Contact me for more information.
Technorati Tags: Steamboat Springs real estate, Bank sales, Agate Creek, Werner Ranch, One Steamboat Place, Steamboat Mountain
Saturday, October 29, 2011
Trailhead Lodge condominiums in Steamboat Springs foreclosure sale
See more details about Trailhead at WildhorseNew prices at close to half off the original listings, may greet buyers of Trailhead Lodge in Steamboat Springs, Colorado as the new development owners complete the foreclosure process soon.
From Steamboat Today
SilverLeaf expects to take ownership of Trailhead Lodge from Resort Ventures West through foreclosure this week
Originally priced at around $1,000/sf, Trailhead didn’t quite meet Buyer’s expectations. Appliances, cabinetry, construction quality and location just wasn’t on par with the other truly ski-in properties like Edgemont and One Steamboat Place which had a similar price point. Creative marketing, and a very nice property with fantastic amenities was not enough to see value in what was delivered. Combined with a declining economy, former mountain resort developer Resort Ventures West was unable to sell enough condos for owners Trailhead Lodge at Wildhorse Meadows, LLC.
The new owners, SilverLeaf Financial of Salt Lake City, recently bought the debt from Bank of America and will proceed with foreclosing on the developers to “clean up the title.” The foreclosure sale is scheduled this Wednesday at the Routt County Treasures office which should finalize the process.
This can be your opportunity as a new buyer of a very nice condominium in Steamboat Springs. If the new Trailhead At Wildhorse owners release prices around $400-500 per square foot, I can say, as a local Realtor specializing in Steamboat mountain real estate and condominium sales, that pricing will be very attractive and competitive.
It’s a stretch to call Trailhead Lodge a ski-in/ski-out as previously advertised. You do have to get on a gondola located just outside the building, ride to a landing spot at One Steamboat Place., then walk to another lift or gondola that takes to Steamboat’s skiing. Therefore, I wouldn’t put these condominiums in the same category as One Steamboat Place or Edgemont, but they do offer fantastic views, amenities such as a big pool, recreation room and play area for the kids, convenience to Strings on the Mountain, restaurants, shopping and the movie theatre at Wildhorse Marketplace.
This is real estate to watch for a deal on new construction, views and quality amenities and hopefully a bargain price for a condominium in Steamboat Springs.
Call me for more information,
Dean Laird
Colorado Group Realty
Broker/Owner
970-846-8284
Technorati Tags: Trailhead Lodge in Steamboat Springs, Colorado, foreclosure process, Trailhead At Wildhorse, Steamboat mountain real estate, condominium sales, Trailhead Lodge, One Steamboat Place, condominiums, Edgemont
See more details about Trailhead at WildhorseSunday, October 9, 2011
Pieces Fall Together in the Steamboat Springs Real Estate Market; Seller Financing Option using a Wrap.
Colorado Group Realty brokers worked together to complete a “remarkable” and “extraordinary” deal involving multiple properties, owners and buyers at the end of September in the Steamboat real estate market. With one deal dependent on the other, four homes involving five homeowners were bought and sold in a three-day period at the end of September! It’s especially noteworthy given today’s real estate market and lending climate.
From Steamboat Today
From price negotiations, home inspections, appraisals and financing, everything had to happen smoothly for the deals to close.
However, offers relying on a contingencies being met don’t always work out as smoothly as in the above transactions. As an example, an owner has an offer contingent on the buyer selling and closing their home in order to purchase, but it doesn’t work out as planned and the buyer doesn’t see an offer by the contingency deadline - is there another option?
If the home buyer has some equity in their home and an acceptable down payment to cover the seller’s closing costs, the seller could consider owner-financing the real estate purchase without paying off their existing mortgage using what is called a wrap-around mortgage, or “wrap” for short. When the home buyer eventually sells, they pay the seller, effectively allowing a much longer time for the buyer to sell their home.
The seller takes enough down to cover closing costs and cover any risk of the buyer walking while the buyer makes payments to the seller who in-turn pays the existing mortgage. Of course, terms all have to make sense to both parties.
Also, there are legal matters to consider, summarized in this article.
For example,
if the seller owes on an FHA-insured (post March 1, 1988) or a VA-insured (post December 15, 1989) note and deed of trust, wrapping either of those types of loans is considered improper - possibly even fraudulent - by HUD, and is not recommended.
Since I’m not a real estate lawyer, please see the above article for more ideas about this type of transaction.
I’ll help you find the home and Oliver can help us with the details of the “wrap”.
Call me or contact me for a list of homes where the seller is willing to finance or trade.
Colorado Group Realty, Broker/Owner
970-846-8284
Technorati Tags: Colorado Group Realty, Steamboat real estate, contingent, wrap-around mortgage, wrap, FHA, VA, loans, HUD
