Saturday, August 21, 2010
The Highmark at Steamboat has suffered some ups and downs - evidenced by being recognized as filling an unmet high-end niche while also sporting a couple of oreclosure condos just listed on the Steamboat Springs MLS. Tough times are hopefully ending as Steamboat sales pick up and the developer hands over the management keys to a local property management company - Mountain Resorts. Financial troubles hit early in construction and The Highmark was a swimming hole for Steamboat ducks because the foundation sat filled with spring run-off. A drawn-out construction process followed and the building was finally finished with an exterior color scheme you either love or hate. The Highmark first opened as a luxury rental property but recently succumbed to an unsuccessful auction by a marketing plan that couldn’t produce sales. Indeed, The Highmark has had a checkered history to date. However, change has been good. The friends and clients I’ve sent there to stay, love the place for the luxury finishes, ski resort views, convenience to the slopes and world class service, all at a bargain price. And The Highmark is on track for more success with new management…
Mountain Resorts President Steve Frasier said it was the recent sales that contributed to the developers’ decision to seek a locally based property management company that was focused solely on the Steamboat market as they anticipate turning the property over to a homeowners association. “We have the ability to transition from the developer to the HOA smoothly”.
- Steamboat Today Over 1500 square feet, newer construction, a few minutes walk to the Steamboat gondola and only $625,000 as of today’s date, these 2 newly listed foreclosure condos are bank owned real estate and worth a closer look. Call Dean Laird 877-678-0884 about these properties or for more Steamboat foreclosure market conditions.
Monday, August 16, 2010
Low prices and real estate advertised as “bank owned” is drawing increasing attention to Steamboat Springs.
Steamboat Today’s article talks about our foreclosure market. Correcting the paper, Eliese is an owner with Colorado Group Realty, and one of our experts in the Steamboat foreclosure and short sale process.
The desire of those wanting second homes in Steamboat Springs at a significant discount outpaces the interest of real estate investors. We have foreclosures, short sales and distressed sellers, but properties are not exchanging hands at prices where investors looking for rental income can cash-flow a home or condo purchase.
Unlike many other areas in the country, Steamboat Springs perceived value is driving our summer sales. Steamboat is on sale right now, and a strong desire for our lifestyle should force a quick turnaround when other markets begin to recover.
There have several high-dollar foreclosed properties sold in the past few weeks. For the complete report and facts on Steamboat Springs foreclosures and bank owned real estate,call Dean Laird at 877-678-0884.
Saturday, August 14, 2010
The city of Steamboat Springs is moving forward on big plans for the future. Completion of the public promenade and utilities is just the tip of the iceberg. New financing looks promising for the Steamboat skiing experience.
New financing plan would not drastically change base area construction plans for the rest of this summer, it would enable completion of the current slate of high-profile redevelopment projects next year. Some final landscaping items could stretch into spring 2012.
says base area redevelopment coordinator Joe Kracum - http://www.steamboat … mboat Today article.
Looking for an upside investment potential in the Steamboat condo market? Keep a close eye on ski-in, ski-out Real Estate for sale.
Call Dean Laird 877-678-0884 to talk about the future of the Steamboat Base Area.
Thursday, August 12, 2010
There were 26 signs of good news for sellers in Steamboat in the past 7 days! Steamboat homes, condos, townhomes and residential land sales comprise the list.
6 Condos - 3 sales ( Trappeur’s Crossing , Timber Run , Ski Time Square ), 3 Pending sales (Storm Meadows , Rockies , Quail Run ).
8 Homes - From Steamboat Lake to Hayden to Oak Creek . Most sales were the bargains under $400,000.
4 Town Homes - All 3 and 4 bedrooms, from $400,000 to $1,000,000
4 Residential Land - 2 pendings and 2 sold - from $40,000 in Hayden to $796,000.
1 Commercial mixed use and 1 fractional ownership sale at The Phoenix .
To receive your weekly sales report by email - Write Dean Laird or Call 877-678-0884
Technorati Tags: sellers, Steamboat homes, condos, townhomes, land, Trappeur’s Crossing, Timber Run, Ski Time Square, Storm Meadows, Rockies, Quail Run, Steamboat Lake, Hayden, Oak Creek, Commercial, fractional ownership, The Phoenix
Wednesday, August 11, 2010
With mortgage rates at historic lows and current high inventory, it’s a Steamboat buyer’s market, at least for now.
Reports Bloomber News:
Officials directed the New York Fed’s trading desk to reinvest what economists estimate will be $15 billion to $20 billion a month in maturing agency and mortgage-backed securities back into U.S. Treasuries. The purchases will help keep Treasury yields and mortgage costs low and prevent the level of monetary stimulus from shrinking further.
So when is the turn in Steamboat? This is great news, but we still need Fannie Mae to loosen up their belt for condo lending. If a buyer has 20% down payment for a Steamboat condo, the condo is 40%-50% under the prices of 2007 and the inventory for development land remains low in comparison to many other resort areas, then the low risk should be attractive to a lender. Unfortunately, the rule-makers don’t analyze our niche market and thus we are waiting for the days of relaxed condo lending rules. When this happens and the buyer qualifies for a loan that is marketable, we should see a surge of sales. Until then, bring more cash.
The FED stopped investing in Mortgage backed securities (MBS) back in April and sales declined. The FED are now investing again, so I anticipate new confidence and sales to pick up. This may not be the turn or the bottom, but if you combine this good news with relaxed lending rules, then that may just be the sign of a turn.
Meanwhile, it’s a Steamboat Springs Buyer’s market - and cash is king.
Call me about Steamboat Springs foreclosure real estate and current market conditions.
877-678-0884 direct or 970-846-8284 Cell.
Monday, August 9, 2010
Similar to your cable bill, it seams every year we see a notice of increase for our water and sewer. http://www.steamboat … t-more-explanation/.
Jay with the Mount Werner Water and Sanitation District points out that
The proposed increases in wastewater treatment fees and tap fees will affect not only residents and businesses in the City District, but also those in the Mount Werner Water District, Steamboat II, and Tree Haus.
Big or little government seems to follow the same path. When times are good they don’t take that as a sign it’s time to save for the likelihood of bad days ahead. We can’t look back; its time to plan for our future and this just may be one of those increases we need to live with.
Meanwhile, there is always that idea to conserve water and I’m guessing you won’t see your bill affected as much.
Current owners of Stagecoach real estate near Steamboat Springs, Colorado need to organize and implement a plan.
http://www.steamboat … of late 2007.
Saturday, August 7, 2010
A mortgage company that is in the process of bankruptcy can’t find a buyer for the condo they foreclosed on, because lenders don’t want to give Mr. buyer a loani!
True story! Buyer has excellent credit, 20% down and looking to purchase real estate at 50% discount off of previous sales (should be low risk) The reason Mr. Lender can’t finance the property is because while searching for vacation property on the web, the property in question shows up from the search. Vacation property = investment property in their eyes most of the time. You may be legitimately purchasing the property for a 2nd home in Steamboat, with no intentions of renting; however, the banks are calling it an investment condo and its tough to get financed. TARP to the rescue does not apply here; but…wait!
“Another important goal of TARP is to encourage banks to resume lending again at levels seen before the crisis.” http://en.wikipedia. … lief_Program#Purpose
Don’t get discouraged; there maybe a solution as long as you have 25% down, investor concentration ideally isn’t over 30% or was that 10% (this changes depending on who you talk to), and you don’t have more than 4 mortgages already. Its not so easy though. The HOA (Home Owner Association) can’t be in the red, one owner can’t own more than 10% of the inventory and so on…
Financing condos in Steamboat is common, but it’s best if n we do some homework before venturing out to look for deals.
There are several condo complexes that should finance conventionally, because they fit the lender rules. 3 examples are Walton Creek Condos (2 bedroom plus huge loft for 3rd bedroom, views of the ski resort http://www.steamboat … on_Creek_2_bed-loft/), The Timbers (Colorado lodge with views of Catamounthttp://www.steamboat … _Timbers_2_bed-loft/) or most townhomes such as Columbine - (3 bed, 3 full baths, 2 lofts, views of the valley and Rolling Stone Golf Course, 2043 sqft now just $399,000http://www.steamboat … _3_bed_plus_2_lofts/).
Call Dean Laird 877-678-0884 direct or 970-846-8284 for more ideas for financing or any additional information on condos and homes in Steamboat Springs.