What Goes Up . . . Means More Taxes

May 17th, 2017

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In Steamboat Springs, property values are on the rise and the Routt County Assessor Office is taking note.  These rising values are likely reflected on the Notices of Valuation that recently went out from the Assessor’s Office, which will translate into your property tax bill for 2017 and 2018.

Below is some basic information about how the Assessor determines a property’s valuation, what the valuation translates to in terms of the amount of property tax due, what were the overall stats for our area, and what to do if you believe that your valuation is incorrect.

HOW DOES THE ROUTT COUNTY ASSESSOR DETERMINE A PROPERTY’S VALUE?
The “Actual (Market) Value” shown on your Notice of Valuation (NOV) is based on what is known as an “Effective Appraisal Date” of June 30, 2016. The appraisal collection period is the 24 months prior to June 30, 2016, and the appraisers in the assessor’s office determine the actual value using appraisal standards and methods. The appraisers will take the information for sales that occurred over the collection period for similar types of properties, and use that information to formulate the “actual value” or “market value” for each property in Routt County. Most property types saw an increase in values over the previous collection period which ended on 6/30/2014.

Steamboat Springs, CO Real Estate Report

May 5th, 2017

Steamboat Springs, CO Real Estate Report

As many of you know there has been a lot of buzz around the recent acquisition of the Steamboat Ski Area by Aspen Skiing Company and KSL Partners. And now that the the dust has settled a little, many of you are probably wondering what this might mean for the real estate market here in Steamboat Springs. My thoughts on the subject are that this is a positive step for the future of the community. The esteemed new owners will almost certainly have a positive impact on improvements and development in and around the base area. Real estate, especially that which focuses on second home and holiday investors, should see some growth as buyer confidence rises. This may have been the nudge that on the fence buyers were looking for. However Steamboat Springs is a destination town and growth is largely limited by employment. The sale of the Steamboat Ski Area does not directly bring jobs to our valley. For this reason it is unlikely to have a direct impact on primary residences.

Buying Real Estate From Your Couch Just Got Easier

April 14th, 2017

Buying Real Estate From Your Couch Just Got Easier

Evolving technology is continually changing the real estate landscape. Thanks to the latest imaging systems, selling and buying a home has now gone 3D. I recently invested in a Matterport 3D camera which thanks to its unique 9 lense design, can capture even the tiniest details in a space. Specialty software then pieces together the images to create an interactive 3D model. A buyer can then view the home in a number of formats:

Dollhouse – this showcases the entire home layout including multiple floors.

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Click to view the 3D home tour for 260 Storm Peak Ct

Floorplan – select a floor and get an overview of the entire layout of that level

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Click to view the 3D home tour of 31635 Aspen Ridge Rd

Walking Tour – move from room to room as you desire, and see incredible detail from floor patterns to views through the windows.

2 Homes, 2 Styles, 1 Creek

April 13th, 2017

2 Homes, 2 Styles, 1 Creek – Ready for 2 Buyers!

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In a quiet street just a short stroll to the Steamboat Ski Resort is Cascades at Eagle Ridge. An enclave of townhomes where you can enjoy privacy or conversation, where you can walk or bike to ski instead of drive, and where you can enjoy life all four seasons of the year. And with little turnover of home ownership, the time is now – we have just listed 2 very different styles of homes at Cascades. So sit back, imagine the soothings sounds of Burgess Creek, and enjoy the tour
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Rainier #2  - $629,000

4 Bedrooms 3 Bathrooms 2 Car Garage

 

Click to view Cascade #2 video

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Click to view Cascade #2 Photo Gallery

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Take a private home tour with 3D!

Click to take a private home tour in 3D!

View Full Cascades #2 Listing

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Steamboat Springs, CO Real Estate Report

April 6th, 2017

Steamboat Springs, CO Real Estate Report

The snow is melting, the sun is shining and the local real estate market is starting to bloom!

Routt County Real Estate Market 

February 2017 was a great period for the local real estate market.  Gross volume was $46.6M, up 41.29% compared to last February, and there were 103 transactions, up by 63.49% from the same period last year. Year to date this puts 2017 gross volume up 31.74% and transactions up 29.29%. Let us have a look at what happened in February:

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As we enter Spring we have already seen a jump in the number of new listings to the market and we can expect that this will continue to rise. However based on the demand that we are seeing, the number of active listings may not actually increase as properties are not staying as long on the market as they were this time last year. Pending transactions as of April 6th is 189! The market is fairly balanced right now with the months supply just over 6 months (see what this means here). It is important to note that the above figures are just a snapshot and there is considerable variation depending on property type, location and price point.

Steamboat Springs Absorption Rate Shows Healthy Market

March 16th, 2017

Steamboat Springs Absorption Rate Shows Healthy Market

Absorption rates are a strong indicator in determining the health of a Real Estate Market. For those of you who have heard us use this term but aren’t sure what it means: absorption rate is defined as how many months it would take to sell all the homes currently listed for sale, at the current rate that homes are selling.

A healthy real estate market is 5-7 months worth of inventory e.g. if there were 60 homes listed for sale and on average 10 homes sold per month, the absorption rate would be 6 months. An absorption rate much less that this would suggest a sellers market (demand exceeds supply, higher prices) while a rate much greater indicates a buyers market (surplus supply, greater negotiating power).

In Steamboat Springs the absorption rates have shown some fluctuation, but the latest figures indicate a healthy market overall:

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Choosing the Loan that’s Right for You

March 13th, 2017

Choosing the Loan that’s Right for You

Buying home is one of the biggest decisions, and more likely one of the biggest financial obligations that you’ll make in your life. Add in getting a mortgage… it’s exhausting to say the least. Now whilst interest rates and lender offers fluctuate, here is some information which might help narrow down what style of mortgage might be right for you:

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30 Year Fixed Rate Mortgate. This tends to be the most popular loan choice, particularly if one plans to live in the home long term (10+) years. You’ll probably pay a higher interest rate but it removes the uncertainty of what your payments will be each month.

15 Year Fixed Rate Mortgage. If you can afford higher monthly payments this may be a good choice for you. You have the same security of a fixed loan rate but you can typically qualify for a lower interest rate and consequently pay less over the life of the loan.

Who Doesn’t Love A Retro Mountain Lodge!

March 6th, 2017

Who Doesn’t Love A Retro Mountain Lodge!

Some homes ooze charm, and this is one of them! From the outside we see a classic mountain lodge design: wood siding and stone detailing, sharp rooflines set in a pristine natural landscape.

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From the inside, channel your inner 80′s and enjoy the warmth and coziness of a bygone era.

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And if retro isn’t your thing, just imagine the possibilities! From the 2.81 acre block to the stunning views of Fish Creek Canyon and the Steamboat Ski Area, some things never go out of style.

View full listing here.

Charlie Dresen
Real Estate Associate Broker | Sotheby’s
Local Knowledge | Global Exposure | Defining Service 
970-846-6435  | SteamboatsMyHome.com
610 Market Place Plaza, Steamboat Springs, CO 80487

 

Steamboat Springs, CO Real Estate Report

March 3rd, 2017

Steamboat Springs, CO Real Estate Report

Before we dive in I’d like to share with you the successes of Sotheby’s International Realty. 2016 was an incredible year for the brand and it is exciting to be a part of it all. And most importantly, thank YOU for being part of my own personal success as well as that of Sotheby’s!

Routt County Real Estate Market 

We jumped right into 2017 with a strong start to the year.  Gross volume was $45.9M, up 23.45% compared to last January, and there were 78 transactions, up by 1.3% from the same period last year. Overall January volume was given a boost with the sale of a $9.79M ranch just outside of the Steamboat city limits.

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*Figures compliments of Land Title Guarantee Company
There is still plenty of demand and limited inventory for properties in the Routt County Market. Currently 147 pending sales are recorded and there were 126 new listings that came to the market in the past 30 days. 

The Best Views In Town!

March 2nd, 2017

The Best Views In Town!

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What happens when great design, an ideal location and stunning views converge? You get 260 Storm Peak Ct. For all you potential buyers out there, you’ll be happy to know this home was just listed for sale! Seriously, we can’t say enough great things about this home…

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Click here or call me for more listing information and photos.

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Charlie Dresen
Real Estate Associate Broker | Sotheby’s
Local Knowledge | Global Exposure | Defining Service 
970-846-6435  | SteamboatsMyHome.com
610 Market Place Plaza, Steamboat Springs, CO 80487

 

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