STEAMBOAT SPRINGS CONDO AT 2005 PRICING

Check out this Steamboat Springs 2 br, 1 bath condo for sale at 2005 pricing. Link to Condo details

For more information on this property and other great deals in Steamboat call Chris at 970.846.1432

IS RESORT REAL ESTATE AN INVESTMENT

Many times I have heard the comment, "I plan to own this place for a long time, so it's not really an investment". Unfortunately life does not always follow the plan we originally lay out. Too often, life changes cause you to re-evaluate your situation and what assets are important. This can be the result of job changes, marital status, illness or even worse, death. There are countless reasons why we may need to rethink where we are in our lives.

For this reason, I tell every client, your home purchase in Steamboat Springs, or any other town for that matter, is an investment. What does that statement mean?

1. Buy what you feel your family will really enjoy. Odds are, other people will feel the same way. If you focus on purchasing a property that will live well and feels great when you are inside, your probably not alone. Too many times I see people purchase property just because it feels like a cheap price, not a great home. Odds are when you end up selling, potential buyers will not feel it's that great a home either. Some times you can get lucky, but what this economy is showing us, is that only good homes get offers in tough markets, even if they are low.

2. Focus on the best homes or condos within the best neighborhoods. Buy the end unit, with extra windows, or buy the home on the best lot with views. This is your opportunity to be picky, so focus on buying the best.

3. Get as close to the beach as possible. Beach? What if we are looking in the mountains. In the mountains, this means as close to the Ski Base or the center of downtown as possible. When markets turn, the majority of buyers want to be near the Beach or Ski area. Property in the closest locations will be the first to see a turn to the upside. Also, this will increase your ability to generate rental income should the market be difficult to sell in (such as now).

Hopefully these thoughts reinforce what you were already thinking as you consider making a real estate purchase. If you have any questions about Steamboat Springs contact me at chris@mybrokers.com. Good luck buying!

STEAMBOAT 700 DENIED BY VOTERS

WOW! It's official, the Steamboat 700 annexation has been denied by the voters of Steamboat Springs, Colorado. This is a major turn of events for the future of Steamboat's growth. All future expansion of the Steamboat Springs city boundaries was planned for property west of the city, in a plan called the "West of Steamboat Springs Area Plan".

Today's vote was not an easy one for residents. There were many variables supporting both sides. Only time will tell how this decision will effect our communities future. To read the full article from the Steamboat Pilot, click here.

TWO WEEKS IN A ROW WITH POSITIVE NEWS ABOUT HOUSING!

Last week we had Warren Buffett state - the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply.

“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote Feb. 27 in his annual letter to shareholders of his Berkshire Hathaway Inc. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.” Read the full article

This week in Barrons we an article about Luxury Real Estate, which states - Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward. Read the full article

Living in Steamboat Springs, Colorado where the average home price is near $700,000, this is encouraging news. As a Realtor I can attest to the fact that we are seeing a significant increase in the number of showings at high end properties. We are also seeing deals get done at fairly high dollar values ($2.8 million dollar closing, $5.4 million dollar home goes under contract). I wouldn't say we are back to normal yet, but at least the process of inventory reduction for multi-million dollar properties has begun.

Steamboat Locals Win Gold and Silver!

It was another unbelievable accomplishment for the United States Nordic combined teammates as they won a gold and silver medal in the large hill individual event at the winter Olympics. The event consists of ski jumping followed by a cross-country ski race. In the above photo, Steamboat locals Johnny Spillane and Billy Demong proudly show off their medals. The competition was marred by harsh weather but Demong was able to win the 10 km cross-country race in 25 minutes and 32.9 seconds and Spillane won his third silver of the games, finishing only four seconds behind his teammate.

U.S. Nordic Combined Team Wins a Silver!

Once again, history was made in the Olympic sport of Nordic Combined skiing! The United States Nordic combined team won a silver medal. The squad included Billy Demong, Johnny Spillane, Todd Lodwick and Brett Camerota. Billy, Johnny and Todd live and train in Steamboat Springs. Their incredible dedication and hard work has earned them America's best showing at an Olympics in this relentless sport typically dominated by the Europeans. Another proud day for Steamboat!