Archive for February, 2012

Case-Shiller Report Bleak

Wednesday, February 29th, 2012

Case-Shiller Report Bleak

From the Wall Street Journal to Bloomberg, David Blitzer, Chairman of the Index Committee at S&P Indices, didn’t have positive news to report upon publishing the December S&P Case-Shiller report.
* “In terms of prices, the housing market ended 2011 on a very disappointing note.”
* “With this month’s report we saw all three composites hit new record lows.”
* “If anything, it looks like we might have re-entered a period of decline as we begin 2012.”

Housing Market Ups & Downs

Housing Market Ups & Downs

So just how bad were the December Case-Shiller Home Price Indices numbers?
* The U.S. National Index and the 20-City Composite were down 4% December 2011 vs. December 2010
* The 10-City Composite was down 3.9% December 2011 vs. December 2010
* Atlanta, Las Vegas, Seattle and Tampa each saw average home prices hit new lows
* Atlanta, Cleveland, Detroit and Las Vegas have average home prices below their January 2000 levels
* The National Composite is down 33.8% from its 2nd quarter 2006 peak
* Seventeen cities of the 20-City Composite have seen monthly declines for at least 3 consecutive months

$17M+ Sale Jumpstarts Steamboat Springs Real Estate

Thursday, February 23rd, 2012

$17M+ Sale Jumpstarts Steamboat Springs’ 2012 Real Estate Year

Steamboat Springs’ January 2012 real estate sales started off on a positive note coming in just ahead of January 2011 sales. A good start is always welcome, and with the snowfall finally taking Steamboat Springs literally by storm this week, things might just be looking up on all fronts!

Larry Pierce Photo, Steamboat Today, 2/20/12

Larry Pierce Photo, Steamboat Today, 2/20/12

While local businesses were soft in January due to the minimal snowfall, the recent snowy weather has business owners across the resort market spectrum optimstic about stronger business through March. Reservations immediately picked up for the balance of the ski season as soon as news of our epic, record snowfall on Monday, February 20th  -  27 inches in one day – hit the news.

Photo By John f. Russell, Steamboat Today, 2/21/12

Photo By John F. Russell, Steamboat Today, 2/21/12

Highlights from the January 2012 Real Estate Report

* Sales Volume at $42,660,000 was 1.43% above January 2011.

World Cup Telemark Races in Steamboat Springs

Wednesday, February 22nd, 2012

World Cup Telemark Races in Steamboat Springs.

Last week Steamboat Springs hosted the best telemark ski racers in the world for 5 races in 6 days. These are the fastest racers from all over the world. And it just so happens the this realtor from Steamboat happens to be a decent telemark skier as well. I know, I’m old but I’m still fast. And no, there’s not a senior division. I compete against guys half my age. Below are some pictures and link to some videos.

It was a good week for me. I placed 16th, 13th, 10th, and two 9th places. I was the fastest American male that week. No it’s back to work. Hey, check out my new listing I brought on last week while racing.

Here’s some footage. You can see me at: :31 / :38 / :54 seconds

Telemark World Cup Race Steamboat CO from Fox Cape Productions on Vimeo.

No Cookie Cutter Pricing In Steamboat Springs Real Estate

Tuesday, February 21st, 2012

No Cookie Cutter Pricing in Steamboat Springs Real Estate

As a recent article in the Wall Street Journal  pointed out, “It’s not easy being a home builder these days.” That’s a logical conclusion to come by given that:
* Total home sales are at record lows
* Foreclosure prices are luring potential new-home buyers away
* People often can’t qualify for loans despite low mortgage rates

Even Census Bureau data points to a ‘New Normal’ for new single-family home prices.

WSJ Article by Matthew Strozier

WSJ Article by Matthew Strozier

Rick Palacios, a senior analyst at John Burns Real Estate Consulting, pointed out that since new-home prices peaked in 2007, new single family sales of more than $500,000 have gone from 13% to 6% of the market. Sales of new homes priced under $300,000 now account for roughly 75% of all new single-family sales. Buyers want affordable homes and what people can afford on average has gone down.

The Charlie Dresen Brand

Monday, February 20th, 2012

The Charlie Dresen Brand

“Hey, I’m walkin’ here.” Dustin Hoffman’s famous line from Midnight Cowboy.  It’s all about getting noticed and not being overlooked – or run over in Dustin’s case. The business of real estate is no different. It’s every agent for themselves trying to get noticed and make a living. It’s a dog-eat-dog business and we’re all wearing milk-bone underwear. But I love it and I love this video about personal branding. Sure it’s by Keller Williams, but it’s not so much about corporate branding in real estate, it’s about personal branding and what the agent provides. I live it every day and provide exceptional service, one client at a time.
(NAR = National Association or Realtors)

Steamboat Springs Doesn’t Yet Have This Coffee Shop

Thursday, February 16th, 2012

Steamboat Springs Doesn’t Yet Have This Coffee Shop

Steamboat Springs has a lot of great coffee shops, but “Coffee and Power” is not one of them. I heard about this new website, coffeeandpower.com, through 1000watt Consulting. They are great about keeping a pulse on what’s up and coming, and this new site, is on their “watch” list.

Coffeeandpower.com is a new online service ramping up to connect people offering their services with those who need help with small projects. Be ready to go beyond the online realm though as coffeeandpower.com takes it a step further to facilitate a face-to-face meeting with a person you might end up working with.

The Urban Grind in Portland, a C&P Meeting Place

The Urban Grind in Portland, a C&P Meeting Place

Coffee and Power (great combination don’t you think?) sets up “workclubs” in local coffee shops where people can meet face-to-face to exchange information quickly about jobs they need help getting done and conversely services that can be provided. To date, only Portland and San Francisco have operational “workclubs”, but expansion is inevitable.

Celebrate Mardi Gras Steamboat Springs Style

Wednesday, February 15th, 2012

Celebrate Mardi Gras Steamboat Style

Snow has arrived in Steamboat Springs, it’s a long weekend for many thanks to President’s Day on Monday, February 20th and there’s a great Mardi Gras celebration beginning Friday, February 17th at Steamboat Springs’ Ski Mountain!

Steamboat Springs Mardi Gras Celebration

Steamboat Springs Mardi Gras Celebration

Come to Steamboat Springs over the long weekend and catch one or all 5 days of Mardi Gras celebrating! Free concerts, a parade, Cajun & Creole themed food  specials, you name it and the Steamboat Springs Ski Mountain will have it:

  • Friday, February 17thBourbon Street at the Bear (Bear River Bar and Grill at Steamboat’sSkiMountain base)
  • Saturday, February 18th: Mardi Gras Parade from Ski Time Square into Gondola Square’s Beer Garden and Crawfish Broil
  • Saturday, February 18th: FREE concert after the Parade featuring Ivan Neville’s Dumpstaphunk from Mardi Gras central, New Orleans
  • Sunday, February 19th: New Orleans Jazz Brunch at The Steamboat Grand and another FREE concert at the mountain base Steamboat Stage at 3:00.

Made to Order Home Mortgage Loans

Tuesday, February 14th, 2012

Made to Order Home Mortgage Loans

According to a recent article in the New York Times, “Loan Terms Made to Order” are more common than you’d think. You can get creative with mortgage loan terms if you know what to ask for and you have a length of time in mind. More borrowers are asking for and getting fixed rate loans with terms outside the standard 15 and 30 years; these custom mortgages are prevalent in refinancings.

New York Times Mortgage Rate Chart

New York Times Mortgage Rate Chart

In 2011, nearly 17% of all refinanced mortgages were comprised of “other length” fixed rate loans according to the Mortgage Bankers Association. Most of these terms were for 20 years, but 10, 25 and 40 years were not unheard of and if you do your homework, you’ll even find lenders who will agree to “oddball” terms like 16 or 7 years.

Entry Level Price Points Dominate Steamboat Springs Sales

Monday, February 13th, 2012

Entry Level Price Points Dominate Steamboat Springs 2011 Sales

Steamboat Springs saw a 2011 real estate market dominated by sales of homes priced under $200,000. Condominiums made up most of these sales, and now that these bargains are off the Steamboat Springs market, there’s not much inventory at the lower price points as compared to last year. Here’s a Steamboat Springs real estate snapshot by the numbers:

* Homes priced below $200,000 comprised 36% of 2011 sales
* 26 condos sold in 2011 for less than $100,000 (of these, 16 were bank owned)
* 45 condos sold for prices between $100,000 and $200,000 in 2011
*52% of 2011 Steamboat Springs’ sales transactions were for less than $300K
* Currently only 9 condos are listed on the market priced less than $100K and only 39 condos on the market reside in the $100K-$200K price range

2011 Steamboat Springs Condo Sales Data

2011 Steamboat Springs Condo Sales Data

Art in Steamboat Springs – Rabbit Ears Pass Snow Circles Art

Saturday, February 11th, 2012

Art in Steamboat Springs – Rabbit Ears Pass Snow Art Video

Rabbit ears pass is about a 15 minute drive from Steamboat Springs.

Snow Circles from Beauregard, Steamboat Aerials on Vimeo.