Tuesday, April 19, 2011

Property Requirements for FHA 203B and USDA GRH loans

With many foreclosures and distressed properties on the market, there are a lot of questions about property condition. If you are considering a FHA 203B or a USDA GRH loan there must be a working stove in the property. These type of loans also require a heat source, toilets and all utilities must be in working order. They will not finance a property that has cracked or peeling paint, or properties that are in need of serious repairs. The property does not need to have a fridge, washer or dryer. These appliances are considered personal property.

Tuesday, February 1, 2011

Steamboat Ranked #2 on the Rand McNally's List

Rand McNally’s Tripologists recently reported the top ten ski slopes in the United States and Canada. The statistics show that the West is drawing more skiers than other areas in the U.S. and Canada this season based on bookings.
Leading the pack is Lake Tahoe, CA.
Colorado ranked two through six with our very own Steamboat Springs as number two.
1. Lake Tahoe, CA
2. Steamboat Springs, CO
3. Vail, CO
4. Aspen, CO
5. Breckenridge, CO
6. Telluride, CO
7. Quebec, QC
8. Stowe, VT
9. Jackson Hole, WY
10. Whistler, BC

link to article

98th Annual Winter Carnival

98th Annual Winter Carnival starts this Saturday, February 2nd and concludes on February 6th, 2011 The annual Winter Carnival, steeped in local tradition, has become the signature celebration of snow and winter activities in Steamboat Springs. From ski jumping competitions to tubing parties, family-friendly street events to the Diamond Hitch Parade, there is something for everyone to enjoy. The fun & festive Night Extravaganza that wraps up the carnival is not to be missed, featuring plenty of fireworks along with the legendary Lighted Man.

Steamboat Ski Resort's Free Concert Series

The Free Concert Series will kick off February 26 and wrap up April 10, 2011. The Steamboat Ski Resort has announced the lineup for the 12th annual Bud Light Rocks the Boat free concert series. The outdoor concerts will be held at 3:00pm in Gondola Square at the base of Steamboat Ski Area, and the final concert is at 2:00pm on Closing Day, April 10th. All shows are free & open to the public. The series opens on Feb. 26th with the North Mississippi Allstars, a bluesy Southern rock band inspired by the smoky juke joints of the hill country. Next up is mandolin player and vocalist Sam Bush, the godfather of the New Grass Revival band, who returns to Steamboat for a March 4th show. Austin, Texas-born singer-songwriter Lukas Nelson, son of Willie Nelson, will perform on March 19th with his band, Promise of the Real. Blues Traveler front man and harmonica player extraordinaire John Popper plays March 26th with his new project, the Duskray Troubadours, followed by Latin pop rock stars Los Lonely Boys on April 2nd. The series finishes with a reggae-themed event on April 10th featuring Katchafire. Originally a Bob Marley tribute, New Zealand-based Katchafire has been touring the world in support of its four studio albums.

Monday, January 31, 2011

Real Estate Activity Increases In 2010

Year-end statistics for 2010 shows there have been significant increases in both the number of sales and the total sales dollars for homes that were listed and sold through the Steamboat Springs Multiple Listing Service. Residential sales of condominiums, townhomes, and single family residences in Steamboat Springs rose to 338 sales during 2010. This represents a 42% increase over 2009, with a total sales volume of $241,399,546, a 33% increase over 2009. The average days on market decreased by 21% to 210, which is yet another indicator of an improving sales climate for Steamboat Springs.

Friday, January 28, 2011

Vacation tales of Steamboat Springs

Below is a link to a really nice story about Steamboat Springs all the way from the United Arab Emirates.

Old West Meets Natural Wilderness in Steamboat Springs-The National

Thursday, January 27, 2011

Buyers of multimillion-dollar Steamboat homes expect quality, great deals

Tom Ross of the Steamboat Today interviewed Chris for a article that was published in the Sunday, January 23, 2011 real estate section. Article below...

When the new home at 2745 Whitewater Lane sold for $1.95 million cash Wednesday, it said a good deal about the state of the high-end market in Steamboat Springs. The property, overlooking Fish Creek from close range in The Sanctuary, originally was listed for $4 million and saw the asking price reduced to $2.5 million in September.
Listing broker Chris Paoli, of Colorado Group Realty, said last week that his research tells him that distressed properties play less of a role in the high end of the market than the impression a few noteworthy bank-owned sales have created. And he said he thinks the supply is more finite than many think.
“My observation is that there are far more buyers in the $1 million to $3 million market than there are good homes,” Paoli said.
He counts 82 listings in his target category.
Conventional wisdom says that many million-dollar-plus homes would take years to absorb in this market. But Paoli said it’s not easy to find a home of the quality that buyers are expecting in that price range.
“Psychology drives so many of our decisions,” Paoli said. “What has occurred is a number of homes have gone into distress, creating a large gap between sales prices and average list prices. Everyone wants the next great deal. Why wouldn’t you?”
That leads buyers to wait until the right price similar to the last great deal.
Paoli bases his position on the number of showings his own listings are receiving and a partial survey of local Realtors with qualified, ready-to-buy clients.
“After polling more than 50 brokers in my office, 24 agents responded with 34 active buyers in the $1 million to $3 million single-family home category. Personally, I can quickly come up with 10 more real buyers in this group (from clients of other agents in the market), and there are still another 30 agents to sample. My estimate is there are between 75 and 100 active, very real buyers in this category.”
The house on Whitewater Lane might be the most recent great deal in the luxury market. The sale price converts to $341 per square foot for a 5,716-square-foot home with five-plus bedrooms, 5 1/2 bathrooms and a three-car garage on a half-acre. The list price per square foot was $402.
The home has extra touches such as a refrigerated wine room and a dog wash in the garage. It was on the market for 131 days.
The buyer’s broker, Pam Van­atta, of Prudential Steamboat Realty, said she agrees with Paoli that prospective buyers in the price range are insisting on the best quality and that before long, the best will be spoken for.
“Demand is getting stronger, and the supply is getting gobbled up,” she said. “The question is how long it will take to absorb all 82. I would say you follow the typical absorption rate. It might take five years.”
Her buyer for The Sanctuary home previously had looked in the local market, decided to wait and returned to make his purchase.
“I think it was a very good value,” she said.

Link to article http://www.steamboattoday.com/news/2011/jan/23/buyers-multimillion-dollar-steamboat-homes-expect-/