Archive for May, 2013

Steamboat Springs Real Estate Report

Thursday, May 30th, 2013

Steamboat Springs Real Estate Market Report

Routt County

Once Again, many indicators continue to show improvements within the Steamboat real estate market. Pending properties continue to be strong. Sales are increasing each month. And inventory remains low but is creeping up as we head into summer.

Date                        Pending              Sold 30 days        Inventory

4/1/13

132

38

1574

5/1/13

135

59

1562

Today

131

60

1610

Demand is high for single family homes and townhomes within and Downtown, Fish Creek and the Mountain areas. If priced right, properties are seeing multiple offers at times. Lower priced condos within the same area are also selling well.

Prices: As demand increases and properties sell, we’re seeing an increase in prices. Some properties within the hot price range and area have already seen decent increases in values. Like many areas across the country, I could see values and prices rise 10-20% over the year. This is great for home owners and those looking to refinance. For many who were underwater on their mortgage might see relief soon rising values.

Free Fishing Weekend in Colorado

Wednesday, May 29th, 2013

Free Fishing Weekend in Colorado

 

Colorado Parks and Wildlife (CPW) hosts a free fishing event the first full weekend in June.  This weekend, June 1st and 2nd will be free fishing for all ages throughout Colorado for residents and non-residents. By waiving license requirements, CPW hopes the Free Fishing Weekend will encourage more people, especially children, to get out there and experience one of our most popular sports in the state.

Charlie Fishing

And I fish (and fish, and fish…)

Regulations

Typically, fishing licenses are $26 annually for residents and $56 non-residents. Daily passes are $9. Children under the age of 16 are free; however, a second rod charge may apply which is $5.00. So here is your opportunity to save some money and share the joy of fishing with others.

A Day in Steamboat Springs, Colorado

Tuesday, May 28th, 2013

A Day in Steamboat Springs, Colorado

Sleeping Giant, Elk River

Sleeping Giant, Elk River

Let me tell you about my day recently:

I ran to our local Ace Hardware to get some repair parts for my irrigation system. 60 plus miles later, one $12.00 map, and a quick lunch out, I returned to my project.  A slight case of lack of focus?  Possibly. Happy I make Steamboat my home? Definitely.

I ran to Ace. They had my part. Steamboat’s Ace at the Curve always has what I need. But as I was leaving, I just drove straight instead of taking a right…big mistake. I decided spur of the moment to drive up the Elk River to check out the flow. In the next few days the river is expected to reach its peak runoff level. It was roaring!

2013-2014 Steamboat Ski Passes on Sale

Friday, May 24th, 2013

2013-2014 Steamboat Springs Ski Passes on Sale

The flowers are blooming-go buy your ski pass! The 2013-2014 Steamboat Ski Area passes are on sale until June 1st so hurry up and go online to reserve your pass. After June  the prices go up.

Powder Skiing

Powder Skiing

A season’s pass will be $979 until June 1st.  Between 6/1/2013 and 9/2/2013 the price rises to $1,089. I’m not sure what happens after the September 2nd deadline but I’m sure it’s not going to be cheaper.

A variety of other passes are available. The 6 and 15-day passes are quite popular, especially for out-of-town skiers and riders. Additional days can be purchased after you use up your days for $55 and $45/day respectively. To make it easy for everyone, Steamboat Springs Ski Area has a system set up for you to download your own photo to create your pass. They will mail it to you or you can pick it up when you arrive. Alternatley, you can always show up in person for your mug-shot. I think this is a great benefit to our out-of-town guests.

Income Data for Steamboat Springs

Wednesday, May 22nd, 2013

Income Data for Steamboat Springs, Colorado

Residents of Steamboat Springs, Colorado were in the 91 percentile nationally of adjusted gross income in 2011.  However, you don’t have to be rich to live in Steamboat Springs. We have 97 properties within Steamboat priced under $300,000. Steamboat Springs real estate values range broadly, and so too does the income of Routt county.

In an article in the Steamboat  Today  by data analyst, Scott Ford, individual income data is showing some interesting trends.  Data was released by various government entities based on our annual IRS tax returns and the latest census of 2011 and sheds light on the health of our local economy.

Bureau of Economic Analysis data

Bureau of Economic Analysis Routt County Data5

To simplify the report, residents of Steamboat Springs, Colorado were in the 91% nationally of adjusted gross income. While the outlying areas in Routt County were in the 60-70% range. Compared to just Colorado, Routt County ranked 7th in per capita income. The last two census’ reported Routt County as 10th. To me, this upward trend indicates overall we adjusted well to the economic downturn.

Foreclosures Down in Colorado

Monday, May 20th, 2013

Foreclosures Down in Colorado

Time to Celebrate

Time to Celebrate

May 16th the Colorado Division of Housing reported a 41 percent decrease in foreclosure filings in Colorado. There were 4,571 foreclosure filings the first quarter of 2013 across the state compared to 7,785 during the same time period last year. Actual foreclosures were down 30.5 percent from first quarter last year.

Wow.

Foreclosure filings differ from foreclosures. Foreclosure filings are the paperwork; actual sales happen over 100 days later. During this time, borrowers and lenders try to work towards an agreement to bypass foreclosure. This may involve options like short sale or re-financing.

Splatz Canvas and Wine, Steamboat Springs, CO

Friday, May 17th, 2013

Splatz Canvas and Wine, Steamboat Springs, CO

There’s a new activity sweeping the country and Steamboat is being swept along with the tide! Check out Splatz Canvas and Wine.

Splatz Canvas and Wine is located at 1104 Lincoln Ave, 970-871-7904

If you haven’t heard of these painting studios being opened up across the county, you really should get with it. I didn’t say “you’ve been living under a rock” because that doesn’t seem very polite, but maybe you should get these studious on your radar. These are for men and women, children, artistic folks, totally unartistic folks, married couples, dating couples, friends, and YOU. They truly are for everyone. I think the picture below helps express how individual these studios can be!

You too can be creative!

You too can be creative!

 

Steamboat Springs’ very own Splatz Canvas and Wine studio is located downtown and post their schedule online. They also are available for private parties.

Spring Detours in Steamboat Springs

Wednesday, May 15th, 2013

Spring Detours in Steamboat Springs

 

May day Aspen

May day Aspen Tree

Spring is in the air! With the changing of the seasons come some little life-detours for residents of Steamboat Springs. Here are a few of the unexpected detours:

One such change is navigating our bike paths! Walton Creek and the Yampa River run along the “Core Trail” which is our local bike and walking path that runs the length of Steamboat Springs. In the spring, the snow melts and our rivers get higher, and higher, and higher which cause some flooding on our trails. So, in the spring, you need to be prepared for a few detours:

 

A May day on the bike path

A May day on the bike path

Today’s New Housing Market, Part 3 of 3: Owners

Friday, May 10th, 2013

Today’s New Housing Market, Part 3 of 3: Owners

 

CNN Money Housing Report

CNN Money Housing Report

CNN Money did a 3 part series on “smart strategies for buyers, sellers and owners” in today’s new market. 6 years after the housing collapse, they have some suggestions on how to adapt to this new housing market. Part 1 was on Selling, Part 2 was on Buying, and now we’ll talk about owners who are not buying or selling.

CNN Money recommends:

-“Seize the opportunity to refinance.” Take advantage of your increased home value and refinance. Mortgage rates are still phenomenal so shop around because there are a variety of choices out there.

-It is easier now to get home equity loans and lines of credit. Well, not easier, you have to fill out a ton of paperwork but the lenders are lending again. Maybe now is the time to purchase something or take a trip.

Routt County Real Estate Tax Assessment- Don’t Freak Out

Wednesday, May 8th, 2013

Routt County Real Estate Tax Assessment- Don’t Freak Out

routt county tax assessment

routt county tax assessment

Last week, Routt Country sent out the new real estate values to all home owners in Steamboat Springs, Colorado. Many of you are reading about the Steamboat Springs real estate recovery yet looking at your recent assessed value for your home and reading that it’s worth about 10, 20, even 30% off what you had thought your home might be worth. You are not alone.  These assessed values are calculated off of a June 30, 2012 date. Or something around that date.

The assessed value you read today are not accurate. These amounts are a guesstimate based on the sales price of homes in the past. It’s very likely your home is worth more . . . a lot more!