Saturday, January 29, 2022
Colorado Group Realty Charitable Foundation is doing well, but we still need your help. We have donated nearly $500,000 to local nonprofits, (Steamboat Pilot and Today) but what I’m most proud of is how quickly our brokers, clients and friends rallied to help raise about $10,000 for the victims of the Marshall fire in Boulder County this past December. And thanks to ReColorado.com for matching the funds.
We hope to never see anything like this again, so please - Protect your Colorado home by downloading this Wildland Fire Action Guide (A checklist to help you prepare and gain awareness in the threat of a wildland fire.)
My long-time friend and real estate partner Eliese had moved to Superior and had this to say below. I thought it would be good to post for all to see so we don’t forget, these families are still in need.
“We witnessed the fires as they ravaged this area on Dec 30th. On that day, the grassy open spaces were bone dry (we only received about an inch of rain between July and the end of December when the fire started) giving the fire a path to homes located next to the open areas. Combined with winds so strong people had to brace themselves to stand upright, homes didn’t have a chance once the embers started blowing. The burned areas are mostly in clusters where 10 or 20 adjacent homes burned to the ground next to neighboring homes that are still standing. Old Town Superior had over 300 homes destroyed.
The next day, Boulder County got eight inches of snow and temperatures dropped to single digits. Xcel shut off the gas in every home in both towns then had to go house-to-house re-lighting the pilot lights. Even though workers came from all over the country, it took days to get heat. FEMA brought in semi trucks full of space heaters that people could pick up at the shelters. Water was also shut off so pipes didn’t freeze and some people didn’t have electricity for days.
The National Guard tanks rolled in to block off areas and we had to show ID with a Superior or Louisville address to get through checkpoints.
What people don’t realize is that even though 1000 people lost their homes, so many others are affected in different ways. Many people with intact homes still have smoke damage and toxic ash in their homes. They are also displaced until remediation crews can come in, and those companies are booked out for weeks. Families with children may not have housing in their school district and are having to transport the kids long distances to school. Pets are still missing or worse. Everywhere smells like smoke.
My heart just aches for EVERY family affected, not just the ones that lost homes. I feel especially bad for the kids who lost over a year of normalcy with Covid, now their lives are interrupted again in an even more terrible way. I can’t even begin to imagine the toll it will take on them.
Mike and I downsized when we left Steamboat and had everything important in our cars within 20 minutes. Our area had a mandatory evacuation for 2 days, then water and gas took another 2 days, and the boil water requirement was lifted a day or two ago. We had no kids at home or pets and we weren’t out of town for the holidays like many families who weren’t able to grab anything. The winds died down as the fire got to our complex and firefighters were ready. I mention this because even though we are just fine and everything is back to normal, it’s still been tough living with all the devastation in the area.
The Superior Community Center became one of many locations for people to pick up water, heaters, and home-cooked food. Restaurants were closed and there weren’t enough food trucks to meet the demand, so community volunteers rallied together to help. I’ve made over 125 meals so far because there is a shortage of places people could go to get ready made food. If you are a family living temporarily in a hotel, having a place to go to get something to eat took one task off your list of making it through the day.
Yesterday I saw two fit young guys standing next to the disaster center with a homemade sign that said, “Two guys and a truck. How can we help?” and a Facebook post from a homeowner who lost their home saying, “We don’t need the money raised in our Go Fund Me site. Who can we give it to that is uninsured/underinsured/needing help?”
Seeing the outpouring of support and financial donations is a wonderful thing. The Boulder County Wildfire Fund as of three days ago has collected over $17 million from 52,000 people around the world. Each family that lost a home has a Go Fund Me site, and the area has been declared a federal emergency area freeing up additional funds. Many people will benefit from the donations all of you at Colorado Group Realty are making.
We live in a world full of kind, generous, compassionate people! So please keep all the families affected by the Marshall Fire in your thoughts as this area rebuilds, and have a wonderful, healthy, successful, happy 2022!”
Another good friend’s brother lost his home and his cat.
If you can help out Morgan directly, here is his GoFund me site.
Colorado Group Realty Charitable Foundation website, to support our foundation.
Dean Laird, Broker/Owner
Colorado Group Realty, LLC
Sunday, March 22, 2020
Having been in this business close to 30 years now, I know what to expect at times of crisis. We still have pent up demand for real estate in Steamboat Springs and low supply, but not much is moving which could mean our market is about to change.
To monitor change, set a benchmark and watch the market. (I had to redact my original thought here, I’m first to admit I mis-guessed the effect of COVID-19 and the result it has had on the Steamboat Real Estate Market. See what I have sold lately.
Ski Country Lodge, a new Steamboat Springs condominium development proposed near the slopes of Steamboat Ski Resort
Monday, September 10, 2012See more details about Kutuk
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).
Tuesday, July 24, 2012See more details about Fox Willow
June was an amazing month, the best in a long time! There were 109 transactions totaling $65.4 million in sales, with one big sale of $14 million. Even discounting the $14 million sale, the month was way up!
While transaction numbers are still off, there are some good signals for the average price and price per square feet. A notable situation is the lack of Interval Sales, there were only 3.
One of the other factors that really contributed to the sales volume in June was the sell-off of the Trailhead Lodge units. There were 16 units with a gross volume of $7,057,800. Average price per square foot was $368.97.
There were a total of 30 Bank Sales (16 Trailhead Lodge) and 14 in other areas of the county.
The highest priced sale was for a ranch property in the Yampa/Toponas area for $14 million. Although there are 4 residential units on this large acreage property, the value is probably more oriented towards the land size.See more details about Fox Willow
Friday, January 27, 2012
Effective January 1, 2013, a new 3.8 percent tax on some investments is slated to affect real estate transactions.
The is a complicated tax and while I’m not a tax accountant, here are the basics:
The 3.8 percent tax passed by Congress in 2010 won’t affect all real estate purchases.
The tax may be applied to income from interest, dividends, rents (less expenses) and capital gains (less capital losses) for individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI.
The new tax applies to the lesser of 1) investment income amount 2) excess of AGI over the $200,000 or $250,000 amount.
Let’s say you are married and have $300,000 in adjusted gross income (AGI) and sold your principal residence for a $600,000 gain. $500,000 of the $600,000 is the standard deduction for a married couple.
AGI Before Taxable Gain $300,000
Gain on Sale of Residence $600,000
Taxable Gain (Added to AGI) $100,000 ($600,000-$500,000, standard deduction for married couple)
New AGI $400,000 ($300,000+$100,000)
Excess of AGI over $250,000 $150,000 ($400,000-$250,000)
Lesser Amount (Taxable) $100,000 ($100,000 is less than the $150,000 so taxable gain is on the $100,000)
Tax Due $3,800 (.038 x $100,000)
Watch out for the chain emails stating this is a tax on all real estate transactions, because that info is false.
This new tax is supposed to raise $210 billion (over 10 years), representing more than half of the total new expenditures in the health care reform package. I support the National Association of Realtor which strongly objected to this tax, but the legislation passed on a largely party line vote.
For questions about how this affects your sale in Steamboat Springs, Colorado real estate purchase, contact me.
Colorado Group Realty Broker/Owner
Friday, January 20, 2012
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
Thursday, December 22, 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
Thursday, November 10, 2011
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.