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

Technorati Tags: , , , , , , ,

Condo buying season in Steamboat Springs is here! Ski-in convenience with walk-to-ski value; rent your real estate to defray costs

Friday, October 14, 2011

See more details about Lodge
See more details about Phoenix
See more details about West
See more details about Trappeurs Crossing

I often am asked which condos rent the best in the Steamboat Springs real estate market. This is usually answered simply and overwhelmingly with ski-in ski-out. However, rental income for a ski-in condo will vary depending on the condition of the residence. A newer or recently renovated condo within walking distance to Steamboat skiing will cost much less and see higher rental revenues than a fixer-upper ski-in condo. I’ve had a couple of owners of slope-side condos recently state they barely covered their home owner association (HOA) and resort management fees last two seasons. This is due in part to the slow economy and increased inventory from a building boom in 2007, but is also due to the price point and the condo rating. Price conscious travelers in many instances are opting for a Trappeurs condo, such as Emerald or Bear Lodge, because they can get higher quality and another bedroom for the same price. Bear Lodge is about 2 blocks East of Gondola Square. At times, a 3 bedroom will rival the rental price of a 2 bed ski-in. Patio units with private hot tubs are popular as well. The quality finishes and convenient amenities like pools, hot tubs and fitness rooms add value. Many travelers will choose to walk a block to skiing for a 4 star or A-rated experience. A trend we are seeing near the slopes is older buildings taking on a new look. The West and The Phoenix, both within walking distance to the slopes, have beautiful new exteriors. The assessments were steep, but the payoff of the HOA special assessment (if not paid by seller already) can always be negotiated in a contract to purchase. For example, many condominiums at the West could use kitchen upgrades to boost rental demand; regardless, a studio condo netted an income after HOA fees, management fees and taxes. Depending on your personal use, its typical to see rental incomes offset those carrying costs before your debt service. Prices are around 20 to 40% off our high sales in 2007. Several condominium developments within walking distance to Steamboat’s Gondola Square and ski slopes are worth investigating before the winter sales season because they may be new, newly renovated or show consistent rental revenue from good management and marketing. Under $500,000 look to are The West, Phoenix and The Lodge at Steamboat. Over $500,000 but under $1,000,000, and for more bedrooms, look to Emerald or Bear Lodge at Trappeurs. If you don’t mind a short walk to the slopes and rental income is important to you, look past the slopes and you will certainly find more bang for your buck without sacrificing convenience. Contact me for more information today.

Technorati Tags: , , , , , , , , , , ,

See more details about Lodge
See more details about Phoenix
See more details about West
See more details about Trappeurs Crossing

Free Furniture for Next Edgemont Sale!

Wednesday, October 5, 2011

See more details about Edgemont

THE NEXT 2 BEDROOM RESIDENCE AT EDGEMONT TO GO UNDER CONTRACT, BEFORE NOVEMBER 15th, WILL COME FULLY FURNISHED! At your choice, the developer will either deliver the real estate fully furnished or give a $50,000 allowance towards a furniture package at closing. Your ski-in / ski-out Steamboat Springs residence will be prepared in time for the New Year so all you need to worry about is what your are going to do during your trip to Steamboat.

Technorati Tags: , , , ,

See more details about Edgemont

One Steamboat Place enjoys record real estate closings

Monday, September 12, 2011

See more details about One Steamboat Place

In the last few weeks new pricing and financing have resulted in closed sales totaling $9 million. Another $8.9 million in sales are under contract and pending closing, and a large number more are in active negotiations! Located slopeside at the gondola, One Steamboat Place’s convenient setting enables Owners to step out of their slippers and into their ski boots for a fun-filled day on the mountain. one_steamboat_place_ideus_art.jpg. Uniquely residential yet rich with five-star services and amenities, there is a sensational spa; wine cellar; a fitness and wellness center; valets for cars, bikes and skis; and fabulous mountain view dining at the Truffle Pig. Best of all, with ownership comes worldwide access to the incredible Timbers Resorts portfolio of properties. Here is a snapshot of the offerings at One Steamboat Place:

  • Summit Club Memberships, $70,000
  • Three-Bedroom Interests, $220,000
  • Four-Bedroom Interests, $330,000
  • Whole Ownership, $1,395,000 to $3,495,000

Contact me for more information on these exciting opportunities to own Steamboat real estate

Technorati Tags: , , , , , , , , ,

See more details about One Steamboat Place

One Steamboat Place restructures debt

Tuesday, July 26, 2011

See more details about One Steamboat Place

The Steamboat Pilot reports that the cloud of a foreclosure filing by a consortium of seven lending banks has been removed and that Timbers Resorts can begin closing some pending contracts and pursuing new sales at reduced prices. This bodes well for steamboat real estate property. Timbers Resorts CEO David Burden said

We and our investor group have made significant multimillion-dollar capital contributions to continue our forward momentum, as well as arranged financing for prospective owners at One Steamboat Place. With this loan restructure completed, the banks are now fully behind One Steamboat Place. The terms of the modified loan, along with additional capital invested from our partners, have provided a very solid footing for the continued sellout of the remaining units in the project. The original motion for foreclosure that had been made by the banks was not the result of poor performance at One Steamboat Place.

One Steamboat Place broke ground in late summer 2007 and continued construction through a record snow winter. It posted $15.25 million in sales during its first round of closings in November 2009. The project includes 80 large condominiums with 38 whole-ownership vacation homes among them.

Technorati Tags: , , ,

See more details about One Steamboat Place

Foreclosure sale of One Steamboat Place delayed for 6th time

Thursday, June 16, 2011

See more details about One Steamboat Place

The Steamboat Pilot reports that the scheduled foreclosure sale of the remaining unsold luxury condominium units at One Steamboat Place has been postponed for the sixth time, this time until June 29. One Steamboat Place has continued to operate as a resort lodging property for both owners and guests, and was busy throughout the 2010-11 ski season. The managers of the property say it has a strong homeowners association. David Burden of Timbers Resorts, which led the construction and continues to manage the property, said last year

I’m positive we’re working this out. My partners are willing to invest many (additional) millions, but only on certain terms. … We’re very confident we’ll get this loan restructured

Routt County Public Trustee Jeanne Whiddon said Wednesday that in theory, the series of postponed sale dates could stretch into next year. The deadline for the lenders to either withdraw their notice of election demand, which constitutes a foreclosure filing, or take the property through to a foreclosure sale is March 16, 2012. Sales since November have reduced the outstanding balance on the construction loan to less than $100 million. The last developer’s sale at One Steamboat Place was recorded on April 8.

See more details about One Steamboat Place

New Edgemont Price List

Thursday, June 9, 2011

See more details about Edgemont

Pricing for the remaining fifteen residences at Edgemont as of April 22, 2011 are here. Some things to note:

  • 2 Bedroom Units: The remainder of our two bedroom units have been reduced up to $275,000 from winter pricing and residences (#2306 & #2403) are now priced just under $1 million at $995,000.
  • 3 Bedroom Units: #2402, #2408, #2502 and #2608 have each been reduced between $50,000 and $90,000.

In addition to the release of this new pricing, Edgemont is excited to announce the Spring/Summer 2011 Sales Program – NO OWNERSHIP COSTS UNTIL SKI SEASON 2011/2012 BEGINS! This means HOA Dues, Property Taxes & Electricity will be paid by the developers while you are sunbathing at the Edgemont pool this summer! On another note, Edgemont has had a few interested buyers inquire about partnership opportunities for both usage and financial reasons. If you are interested in joining another family in ownership at Edgemont, please contact me, and I will be happy to help facilitate the discussion.

Technorati Tags: ,

See more details about Edgemont

One Steamboat Place Guest Visit Program

Saturday, June 4, 2011

See more details about One Steamboat Place

Summertime in Steamboat Springs After a tremendous winter ski season and extended thaw, summer is finally right around the corner. As the snow melts, the trees are budding, flowers are blooming and a gorgeous carpet of lush emerald green is beginning to cover the surrounding valley. There’s really nothing like summers in Steamboat Springs. The options of things to do are endless! Whether you prefer scenic hikes, tubing down the Yampa, mountain biking, golf, fishing or great music and arts……Steamboat has something for everyone. steamboat_barn_summer.jpg Some great summer events to look forward to: · Steamboat Springs Pro Rodeo Series · Steamboat Marathon, Half Marathon and 10K · Steamboat Cowboy’s Roundup Days and 4th of July Celebration · Hot Air Balloon Rodeo and Art in the Park · Steamboat Wine Festival · Wild West Air Fest · Strings Music Festival · Rocky Mountain Mustang Roundup One Steamboat Place is not only the most convenient and ideal location for accessing the ski slopes, but also the perfect summer setting as well. Nestled in the mountain village where Mt. Werner is our Owner’s backyard playground, One Steamboat Place is steps from shopping, dining options and endless recreational opportunities. If you are considering spending some time this summer in Steamboat Springs to continue exploring the possibilities of a Steamboat home away from home, come and enjoy the most luxurious residences in Steamboat Springs…. one_steamboat_pace_interior.png Our Guest Visit Program is an amazing opportunity for you to experience One Steamboat Place first hand. Details of the summer program have been released. Contact me today for information and availability.

See more details about One Steamboat Place

Admin area