Archive for December, 2012

Mortgage Interest Deduction Revisited

Friday, December 28th, 2012
Antlers Condo in Steamboat

Antlers Condo in Steamboat

I recently posted some information about the mortgage interest deduction. But as we near the fiscal cliff, the concerns of how this will play out and many home owners are becoming a little more concerned. In Steamboat Springs, many are second home owners and this is one area that is being looked at as a potential target for cuts.

Economists Divided Over Impact of Any Change to Mortgage Interest Deduction

By: Amilda Dymi

Up to 55% of the economists, real estate experts, investors and market strategists participating in a recent Zillow survey find 2013 home prices would not be negatively affected by potential mortgage interest deduction reductions.

The December 2012 Zillow Home Price Expectations Survey inquired all three possible changes to the mortgage interest deduction, which are a key element of the fiscal cliff negotiations, and may impact home prices in the near term and long term.

Steamboats’ Space Station – Perfect Backdrop for Photos

Wednesday, December 26th, 2012

Jordan Matter, a photographer and creator of Dancers Among Us, just happened to be in Steamboat Springs last springs and just happened to see my favorite gas station as an opportunity.

Jordan Matter Photography/courtesy

Dancer Victor Lipscomb leaps high outside the iconic Space Station in downtown Steamboat Springs in April. The photograph was featured in the book “Dancers Among Us,” a New York Times bestseller.

The Steamboat Today met up with Jordan to bring this to light. To me, there’s endless places in Steamboat that are picture worthy. The space station in Old Town in one of my favorites.

space station steamboat

space station steamboat

Good luck Jordan and thanks for coming to Steamboat.

Charlie

USA Pro Cycling comes back to Steamboat Springs in 2013

Wednesday, December 19th, 2012

USA Pro Cycling comes back to Steamboat Springs in 2013

USA Pro Challenge officials unveiled the 2013 host cities today. After a year off, Steamboat Springs will host the Stage 3 finish August 21 and the Stage 4 start August 22. Steamboat the finish of the USA Pro Cycling Challenge host in 2011. We saw the finish of one race the start of another. USA Pro Cycling Challenge attracts some of the best cyclist in the world and it definitely put Steamboat on the map for pro cycling.

The 2013 host cities and stages are:

Aug. 19 — Stage 1: Aspen/Snowmass Circuit
Aug. 20 — Stage 2: Aspen/Snowmass to Breckenridge
Aug. 21 — Stage 3: Breckenridge to Steamboat Springs
Aug. 22 — Stage 4: Steamboat Springs to Beaver Creek
Aug. 23 — Stage 5: Vail Time Trial
Aug. 24 — Stage 6: Loveland to Fort Collins
Aug. 25 — Stage 7: Denver Circuit

Mortgage Interest Deduction and the Fiscal Cliff

Friday, December 14th, 2012

Mortgage Interest Deduction and the Fiscal Cliff

Owning real estate like a home is the American Dream. The comforts and personal satisfaction in owning a home is priceless. The financial rewards of owning real estate can also be the another motivator for buying a home. For years, the mortgage interest deduction on your tax return gives home owners positive rewards even if their home did not appreciate. So with the mortgage interest deductions, home owners still see financial rewards. But now, the mortgage interest deductions are being talked about when “the fiscal cliff” solutions are being discussed.

Now to the real estate industry, the mortgage interest deductions are a huge component of buying a home. Especially after these last 5 years where the vast majority of home owners saw their home devalued immensely. It’s the mortgage interest deductions that gave home owners reasons for hope. At least those that owned real estate were able to deduct the interest paid on their mortgages to make the depreciation a little easier to live with.

More Snow for Steamboat Springs

Thursday, December 13th, 2012

The forecast calls for SNOW.  With a slow start, the Steamboat Ski Area got off to a slow start  primarily relying on man-made snow. Now I applaud the Steamboat and Howelsen hill ski areas for we were skiing on schedule albeit just a few runs. But now, Old Man Winter has been hanging around Steamboat Springs, Colorado for the last two weeks and that’s making everyone happy. Snow is just a good thing.

With this added natural snow, Storm Peak opened today.  I’m sure there’s some powder turns being cut today. At least for first track skiers.  Now this snow is not only vital for skiing in Steamboat, but the reservoirs in Colorado are low from a dry season last year. So we all need this snow for the health of our rivers like the Yampa river and the Elk river here in Steamboat Springs.

Regards,

Charlie

Snow in Steamboat

Snow in Steamboat

Snowmaking Provides Steamboat Spring Skiing

Saturday, December 8th, 2012

If Steamboat Springs didn’t have snow making, we’d be doing a lot more fishing. With little snow making, my old stomping grounds Crystal Mountain in Washington State is getting dumped on with 28 inches over the last 2 days, here in Steamboat Springs, we’re all still doing “the snow dance.”

Snow making is the lifeline to skiing for many Colorado ski resorts this year. Across Colorado, these high pressure weather systems are keeping us out of the trees so far an on groomed runs kept alive by snow making.  So far, Steamboat’s is off to a slow start this winter. But things will get better.  Now skiing on man made snow isn’t much different. Snow making combines water and cold air to produce snow. Here’s a great video on how snow making works.

While here in Steamboat Springs we’re not skiing the “champagne powder” Steamboat is known for yet, but soon enough. The skiing is decent and snow is on the way for Steamboat.  In the meantime, keep on dancing and praying for snow.

Intrawest to Sell Off All Shares in Whistler Blackcomb

Wednesday, December 5th, 2012
Steamboat Springs Ski Area

Steamboat Springs Ski Area

According to an article published in the Steamboat Today yesterday, December 4, 2012, Intrawest sells shares in Whistler Blackcomb to KSL Capital Partners of Denver,  Intrawest ULC, the parent company of Steamboat Ski and Resort Corp., has reached an agreement with an affiliate of KSL Capital Partners, the Denver-based owner of Squaw Valley and Alpine Meadows ski areas in California, to sell all of Intrawest’s remaining stock in the Whistler Blackcomb resort in Canada.

A news release issued by KSL and Whistler Blackcomb Holdings on Monday acknowledges that Whistler Blackcomb “understands that the Intrawest disposition is being made in conjunction with an Intrawest refinancing.”

It wasn’t immediately clear what impact, if any, the sale of Intrawest shares in Whistler Blackcomb would have on Steamboat Ski Area. Intrawest purchased Steamboat Ski and Resort Corp. for $265 million in March 2007. Since its purchase of the Steamboat resort, Intrawest has sold off a number of its resort interests, including Copper Mountain, two French resorts, Panorama Mountain Resort in British Columbia, a golf and beach resort in Florida and real estate holdings in Squaw Valley.