Archive for the ‘Buyers’ Category

Hunting for a Mountain Area Home?

Thursday, December 28th, 2017

Hunting for a Mountain Area Home?

New to the market is this great townhouse on Hunters Drive – a quiet residential neighborhood with community pond, walking trails, on the city bus loop, and just a few minutes from the Steamboat Ski Area. The home lives like a duplex and feels spacious and private courtesy of the expansive decks, plentiful windows and thoughtful layout.

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The attached two car garage is a prime feature in this snowy mountain town. It also serves to add privacy between the two sides of the home.

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Vaulted ceilings, hickory wood floors, abundant natural light make for a warm and inviting living area. Opening to the dining area and onto the large and sunny decks, this is a great design for entertaining.

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The kitchen is discretely positioned to take advantage of the great views whilst remaining user friendly and hiding dishes from sight.

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STEAMBOAT SPRINGS, CO MARKET REPORT DECEMBER 2017

Thursday, December 7th, 2017

Steamboat Springs, CO Market Report for December 2017

Welcome to our monthly Real Estate video market report!

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Talking Home Affordability. You hear that word a lot these days, but what exactly does it mean? Well in a nutshell, it means how much house can you afford. And this varies for everyone.

Some of the key factors in calculating affordability are:

  • - monthly income
  • - funds to cover your down payment and closing costs
  • - monthly expenses
  • - Existing debt
  • - Credit profile
  • - Ongoing costs associated with property in addition to the home price eg. HOA dues, etc.

Housing affordability is an increasing challenge throughout the country, not surprising when you see figures such as 6.2% average year over year home gains in September*. But how does this look in our little mountain town? The Housing Affordability Index  calculated by the Steamboat Springs Board of Realtors indicates that home affordability for YTD 2017 is quite a bit harder than the same time last year. A number of factors go into this calculation and in all honesty I don’t have the equation, but it is based on interest rates, median sales price and average income by county.

SEPTIC 101: TIPS & COMMON MISTAKES

Monday, December 4th, 2017

SEPTIC 101: TIPS & COMMON MISTAKES

Holy crap! Click on the image to view video.

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Steamboat Springs, CO Market Update November 2017

Friday, November 10th, 2017

Steamboat Springs, CO Market Update for November 2017

Welcome to our monthly Real Estate video market report!

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The real estate market in Steamboat Springs and Routt County remains strong. Limited inventory and strong demand in many areas of the market has created competition for new listings, consequently decreasing the number of days homes are staying on the market and creating favorable pricing conditions for sellers.

Federal interest rates remain unchanged this month however a rate increase is anticipated in December. So we may be seeing a bump in mortgage rates in correlation to this change should the forecast be accurate. Something to consider if you are looking to purchase in the near future, it may be worth your time to speak with your local lenders today!

Thank you to the following companies for providing some of the statistics discussed:

Land Title Guarantee Company (click for full September report)

S&P Core Logic Case-Shiller Home Prices Indices (click for latest figures)

HOME HEATING 101

Friday, October 13th, 2017

Home Heating 101

Home heating is likely the largest energy expense in your home, accounting for about 45% of the average American family’s energy bills. Especially in a place like the Colorado mountains where snowfall can happen at any time and snow is our faithful friend. Making smart decisions on your heating can help you significantly cut your heating costs, and the Energy Saver infographic below from energy.gov is a great place to start:

 

STEAMBOAT SPRINGS, CO REAL ESTATE REPORT & Building Boom

Wednesday, October 11th, 2017

Steamboat Springs, CO Real Estate Report for October, 2017

Click below for the latest Market Report brought to you by SteamboatsMyHome!

Screen Shot 2017-10-11 at 3.25.50 PMThe real estate market in Steamboat Springs continues to be strong. Primary residences are the area where were seeing the most activity. Low inventory and a strong demand has fueled prices to raise. As we head into ski season, we’ll see a transition from primary homes and town homes to more activity around second homes and ski area properties.

Thank you to the following companies for providing some of the statistics discussed:

Land Title Guarantee Company (click for full August report)

S&P Core Logic Case-Shiller Home Prices Indices (click for latest figures)

Steamboat Springs Board of Realtors (click for August roundup)

Tune in next month for another fun discussion. And if you have any real estate questions you’d like answered send me a text or email - 970-846-6435 or charlie@steamboatsmyhome.com

See you next time!

A SMARTER RADON DETECTOR

Friday, October 6th, 2017

A Smarter Radon Detector

If you regularly read my blogs or have purchased real estate in Routt County, you probably know that radon levels are high in more than half of all homes here. Higher than the EPA recommends and higher than is safe for you and your families long term health (radon is considered to be the second leading cause of lung cancer in the US today!).

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*Image courtesy of www.airthings.com

If you don’t, then lets catch you up on the nitty gritty of radon. Radon is an odorless, colorless, tasteless radioactive gas that comes from the natural breakdown uranium in the ground. Trace amounts of uranium are located all around us, and therefore so is radon. Which just happens to be highly toxic. Outside in nature this gas is dispersed enough that our body can react accordingly. However when radon seeps into your well insulated, well sealed home, it essentially becomes trapped and concentrated in the air you breathe. Click here for more information on radon in your home.

Steamboat Springs, CO Real Estate Report

Tuesday, July 11th, 2017

Steamboat Springs, CO Real Estate Report

Routt County real estate saw strong activity in May:

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Here is a closer look at the 103 residential transactions that took place in May:

Residential Transaction Price Point Analysis May 2017

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of gross volume

Previous month % of gross volume    

Under $500K

 63

61%

46%

30%

20%

$500,001 – $1M

 24

23%

36%

27%

32%

$1M – $3M

 15

15%

19%

36%

40%

Over $3M

 1

1%

2%

7%

8%

This chart notes single family and multi family residential sales. Not shown here are the 8 timeshare transactions, 27 land, 6 commercial and 4 miscellaneous transactions for a total of 148 transactions. There were 4 bank sales in May 2017.

Steamboat Springs, CO Real Estate Report

Friday, June 2nd, 2017

Steamboat Springs, CO Real Estate Report

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Routt County real estate had a solid activity in April. Gross volume was $72.5M, +38.79% compared to last April, with YTD at +47.10%.  It’s important to note however, the transfer of a hangar at Yampa Valley Airport for $21.9M impacted the GV significantly. If we remove that transaction from our figures, April 2017 is mostly consistent with April 2016 Gross Volume.  There were a total of 98 transactions: -14.04% from April last year and +15% YTD.

Here is a closer look at the 64 residential transactions that took place in April:


Residential Transaction Price Point Analysis April 2017

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of gross volume

Previous month % of gross volume    

Under $500K

 27

46%

38%

20%

17%

$500,001 – $1M

 21

36%

46%

32%

43%

$1M – $3M

 11

19%

17%

40%

40%

Steamboat Springs, CO Real Estate Report

Friday, 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.