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

March in Steamboat, fun in the powder and sun!

Saturday, March 5, 2011

Grammy Award winning Sam Bush put on amazing show again yesterday and the fun doesn’t end there.

Today, kids and parent entertainment is rolled into one with the Mardi Gras Parade followed by the Cajun BBQ and Beer Festival, carnival festivities including stilt walker, free face painters, palm readers and a FREE concert from JoJo’s Mardi Gras Band, featuring JoJo Hermann of Widespread Panic.

More Steamboat entertainment info Steamboat Mardigras

SnowAlarm tells me to expect great powder Monday through Wednesday.

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One Steamboat Place and bank owned, ski in real estate

Thursday, March 3, 2011

See more details about One Steamboat Place

Looking for a deal on the highest quality luxury ski-in condo Steamboat has to offer? You’ll want to watch the progress on One Steamboat Place which is currently making news.
Steamboat Today reports:

$100 million in unpaid construction debt at One Steamboat Place is two weeks away, and the deadline has passed for the original investors to cure or redeem the matter.

The article further states that

One Steamboat Place has been vibrant this winter even with the overlying challenge we’ve been dealing with.

I can echo that comment as I have several clients with interest in fractional and full ownership at One Steamboat Place. Currently there are no active listings on the Steamboat Springs MLS.
I believe the developers of One Steamboat Place is having trouble negotiating their debt because there are 7 construction lenders, some who jumped into the hype of our bustling market in 2006-07 without any experience in resort properties, and are now wondering what they should do. If the 2 equity investors and 7 construction lenders could all see eye-to-eye and had allowed the sales team to make some deals as the market soured, they wouldn’t be in this position. More than a year ago I presented an offer to them for a 3-bedroom whole ownership. The developer would have liked to make the deal, but per the sales representative for Timber Resorts, the banks were not allowing the discount. This has been a typical process since the start of the national real estate decline several year ago; why can’t they learn from others’ past experience? Wildhorse lenders should take note! Buyers out there are looking for deals - take a cut out of the boat’s bottom without puncturing the hull and the boat still floats!
Steamboat’s luxury development Highmark had several distressed or bank-owned listings all of which have sold. Buyers with cash who have been watching our market for the past 2 years are jumping at the opportunity to scoop up the deals as soon as they hit the market. I’m currently in negotiations on 2 bank-owned properties and both are in multiple offer situations. Since January I’ve presented over 10 offers for buyers on various bank owned properties and all have either sold or are under contract.
I’ll continue to keep an eye on One Steamboat Place. Feel free to give me call to talk more about our ski in ski out real estate offerings. Or check out my Ski condo website.

Dean Laird
Broker/Owner Colorado Group Realty
870-846-8284
Office at the base of the mountain, specializing in mountain area real estate

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See more details about One Steamboat Place

Is the lower budget Steamboat condo foreclosure inventory on the rise?

Saturday, December 11, 2010

In 2007, Walton Village condos, Shadow Run, Rockies were double the price they are today. These 3 condominium developments now top the list with the most REO (bank owned) properties on the market today.

Its no surprise that the low inventory, easy financing and desire to get a foot in the door lead to prices doubling in a just a couple years. What is a surprise is that this all happened after the rest of the country was in decline. We were quick to rise, slow to fall and appearing to be quick to recover. Or are we lining up to be fooled again? The sales don’t indicate so, but what about all those yet to hit the market?

Our inventory of REO condominiums are for the most part, the budget or lesser priced 1 and 2 bed units in older developments. Currently there are just 13 listings and most are under $200,000 with an exception of a ski-in ski-out Dulany condo listed for $429,950 and a Eagleridge townhouse for $657,500.

There are 4 pending sales and 1 closed condo in the past 30 days or so as of the date of this post. 2 sales were older 1 and 2 bedroom condos with list prices similar to those on the market today. The other 2 are the luxury 2 plus and 3 bedroom Highmark condos.

The turnover of inventory of foreclosed real estate in Steamboat is keeping pace with new inventory with the exception of these budget 1 and 2 bedroom Steamboat condos. There were just 3 new bank owned condo listings since November 1st and all 3 are under $200,000. The 2plus, 3 and 4 bedroom residences are outselling new foreclosed listings, so watch that list.

Depending on what you are shopping for, we appear to be on a road to recovery. However, I find myself stuck on how to wrap up this thought and all that comes to mind is the lyric of that great Who song “We won’t be fooled again” - Or will we? - Steamboat shadow inventory post coming soon, check back for more info.

Dean Laird
Broker/Owner
Colorado Group Realty
970-846-8284

Ski, Hike, Boat, Bike, and a 5 bedroom Steamboat Lake area Home for $150,000

Wednesday, November 24, 2010

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Bank owned - REO (post foreclosure) home deals are seeing price drops, especially in the rural areas of Steamboat Springs.

Willow Creek Pass Village located 30 minutes North of Steamboat Springs and 5 minutes from Steamboat Lake State Park, provides year-round recreation opportunities for skiers, snowmobilers, hikers, bicyclists, hunters, cross country skiers alike.

The neighborhood has seen eleven sales since December 2007 from $400,000 to about $1,000,000. This house at just $150,000 is a bargain at just $75.00 per sqft.

Willow Creek Pass is a village of around 140 single-family homes with vacant lots for about 350 more homes. The 8,000 foot elevation provides amazing views of the Zirkel Wilderness, forests of Aspen and Spruce.

There is water and sewer to the most of the lots and covenants protect land values, with an HOA (Home owners association to maintain the roads including snow plowing).

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Steamboat’s biggest news! Powder and One Steamboat Place Foreclosure

Friday, November 19, 2010

Ok… the good news first - Champagne Powder® snow is on order along with the usual turkey and trimmings! Steamboat will be serving up a full plate of fun with 5 lifts, approximately 926 acres and 66 trails, including much of its legendary tree-skiing terrain in Shadows and Closet. For just $30, Steamboat will dish out a lift ticket on opening day, Wednesday November 24th, and donate all proceeds to benefit the local youths in the Steamboat Springs Winter Sports Club.

We haven’t seen early season conditions like these since 1996/97 winter. A series of storms have dumped nearly 4-1/2 feet of snow this month and 6 feet of snow since October 23rd at Thunderhead, the resort’s mid-mountain location at 9,080 feet. Steamboat is currently reporting a remarkable 52-inch base at the summit, the largest ever seen for an opening day. And snow will continue to accumulate starting Sunday and lasting till the opening on Wednesday.

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Meteorologists are calling for a La Niña weather cycle this winter and Steamboat often does very well during the stronger events. So far so good! Mike at SnowAlarm and I decided to hike to Hurricane this past week to send you a taste of what’s on tap for this winter - powder skiing!

Oh - did I mention that One Steamboat Place is in foreclosure? Lets keep with the good buzz and I’ll write about this debacle later. Or you can check out the news.

http://www.steamboatpilot.com/news/2010/nov/17/one-steamboat-place-foreclosure/

Steamboat Condos is your reliable source for a chance at our lifestyle.

Stop by my ski in office and I’ll show you around the mountain. And talk about the great deals on real estate in Steamboat Springs, Colorado.

Dean Laird
Broker/Owner Colorado Group Realty
Direct 877-678-0884

In search of the hog, huge rainbow trout lurk at Storm Mountain Ranch

Monday, October 18, 2010

3 hours of fishing and you’ll be ready to retire, until you land rainbow trout after trout on an old school fly rod and reel from the shores of a restored fish habitat at Storm Mountain Ranch, you haven’t lived the fisherman’s dream. Tommy Herzog shows us how its done.

This isn’t a hobby you can easily add to your bucket list however, only 14 privilaged owners are lucky enough to enjoy the amenities commonly shared at this working ranch and intimate luxury home development at the base or Rabbit Ears Pass south of Steamboat Springs, Colorado.

Colorado offers some of the best fresh water trout fishing in the world, check out our local fly fishing shops for more information.

Bucking Rainbow Outfitters
Steamboat Flyfisher
Steamboat Lake Outfitters, Inc.

Call Dean Laird 877-678-0884 Colorado Group Realty for real estate near a good fishing hole.

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Summer of sales for Steamboat Springs luxury real estate

Saturday, October 2, 2010

Exclusive neighborhoods such as Storm Mountain Ranch, Stonebridge Park, The Sanctuary and Catamount Ranch had a summer of sales resulting from foreclosures, short sales and attractive pricing from motivated sellers. Lower prices may be the draw, but elegance, sophistication, and luxury intermixed with downhome western influences add to the value of these exclusive Steamboat neighborhoods.
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Stonebridge Park is a private gated community only steps from the Rolling Stone Ranch and Golf Club. Original list price $6.34 million - foreclosed and REO (bank owned) closed for $3.2 million.

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Granite canyons, towering water falls and world class flyfishing in a national park-like setting describes Storm Mountain Ranch. List price $9.9 million, short sale opportunity is now under contract awaiting bank approval for the sale.

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With Fish Creekp trail frontage or homes bordering a fairway on the Rollingstone Ranch Golf Club with cross country ski in/ski out, The Sanctuary had 2 luxury home sales this summer. This home original list price at $1,350,000 closed for $1,200,000.
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Catamount Ranch and Club just 5 minutes south of Steamboat ski resort foreclosed log home listed $3,199,000 closed for $2,999,000.

For more information on homes that define fine living for you, please visit my luxury real estate website at http://SteamboatFineHomes.com or call

Dean Laird
Broker/Owner
Colorado Group Realty
direct toll free: 877-678-0884
cell: 970-846-8284.

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