Saturday, November 2, 2013
What’s affordable for a condo in Steamboat with 2 or more bedrooms? The real estate market for older 2 bedroom condos has been pretty soft until just recently. Since November 1st 2012, we have seen 25 sales for condos in Steamboat with 2 or more bedrooms sell and as of the date of this Steamboat real estate blog, there only 8 on the market.
The best deal at Walton Creek is now under contract, so the next best deal per price per square foot, nicer finishes, near the mountain and on the city bus route suitable for both nightly and long term rentals is located at Shadow Run for $174,900 at just $150/SF.
Friday, August 16, 2013
Owning a One Steamboat Place condominium in Steamboat Springs, Colorado comes with the privilage to stay in some of the top rated hotels in the world. Travel + Leisure has rated Timber’s Resorts Castello di Casole in Tuscany, Italy 2nd best hotel in the world and number 1 in Europe. If that isn’t the icing on the cake, Timber’s Resorts has 11 more luxury properties to choose from in addition to One Steamboat Place and Castello di Casole - all are fetching rave reviews.
One Steamboat Place owners enjoy five-star amenities including ski services, family game room, state-of-the art fitness center, yoga and Pilates studio, outdoor heated pool, hot tubs, weekly wine tastings and events, and the best private spa in Steamboat Springs. Their attentive concierge will make arrangements for your airport and around town transportation, pre-arrival grocery shopping, and any activities or adventures you desire.
More than $60 million inventory has sold so far; prices start from $1,500,000 for a 3 bedroom, 3 bath luxury ski-in condominium. One Steamboat Place has a wonderful Guest Visit Program for families that are interested in experiencing our lifestyle before purchasing. Call me - Dean Laird, Colorado Group Realty at 970-846-8284 and I will get more details out to you quickly. Search here for the current listings at One Steamboat Place in Steamboat Springs Colorado.
Sunday, December 9, 2012See more details about 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. 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. [*]*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). [/list] 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 Wildhorse
Thursday, September 13, 2012
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. The West Phoenix 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
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.
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.
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
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.
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.
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.
Bring the kids!
Ski Country Lodge, a new Steamboat Springs condominium development proposed near the slopes of Steamboat Ski Resort
Monday, September 10, 2012See more details about Real Estate
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).
Sunday, February 19, 2012See more details about Wildhorse
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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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:
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.