Archive for the ‘Interest Rates’ Category

AT THIS RATE

Monday, February 5th, 2018

AT THIS RATE

Everything you need to know about today’s lending climate.

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In 2017, the news cycle felt more like a roller coaster ride with the daily barrage of ups and downs, but what about the real estate market? No one can deny the political climate has been unstable, but what’s on everyone’s mind (especially in the world of real estate) is: How is that going to affect mortgage interest rates?

The good news is that low interest rates remained stable last year. And while no one can predict the future, we caught up with local mortgage banker Kathryn Pedersen to take a look at trends in 2017 and what to think about in the new year.

The bad news first: interest rates are on the rise.
“The predication is rates will continue to rise this year. Nothing crazy, maybe .375 to maybe a half percent, depending on what happens with the economy,” Pedersen says. Still, that can add up over time, especially with larger mortgages.

STEAMBOAT SPRINGS, CO MARKET REPORT JAN 2018

Monday, January 8th, 2018

Steamboat Springs, CO Market Report for January 2018

Get the latest news and find out what is hot in the local market today!

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

Land Title Guarantee Company (click for full November report)

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

Steamboat Springs Board of Realtors (click for November roundup)

Follow us at SteamboatsMyHome YouTube for a variety of fun video blogs. 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!

Charlie

 

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)

Choosing the Loan that’s Right for You

Monday, 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.

Steamboat Springs, CO Real Estate Report

Thursday, November 3rd, 2016

Steamboat Springs, CO Real Estate Report

How’s the market Charlie?  Well, I’d have to say the majority of the real estate market is very good. Running the current absorption rate, we see almost every segment of the market is very good with a couple exceptions. Medium to high-end condo activity remains slow with limited buyers and high inventory. Other than that, its trending to be a seller’s market with prices on the rise.

 

Steamboat Springs Absorption Rate

Steamboat Springs Absorption Rate

Steamboat Absorption Rate Nov 2016

Routt County Real Estate Market 

Third quarter figures are out with a great close to September 2016, with 176 Transactions and $80.5M in Gross Volume. Year over year figures show September Gross Volume up +36.55% and transactions up +32.33%!

There was particularly strong sales of upper end properties in September – 19 properties sold for over $1M, including a ranch listing just outside of town for $7M. In August 2016 there were 11 properties sold for over $1M.

Steamboat Springs, CO Real Estate Report

Thursday, March 31st, 2016

Steamboat Springs, CO Real Estate Report

Just when we were getting ready to bust out the shorts, winter revisited with a vengeance – 13 inches in the last 48 hours as measured by the Steamboat Ski Resort. Spring is such a great time of the year! Don’t forget there is a lot happening in Steamboat in the next couple of weeks as the close of the ski season draws near. Click here for our top picks.

 

Steamboat Springs Blanketed in Snow. Courtesty Steamboat Pilot & Today.

Steamboat Springs Blanketed in Snow. Courtesty Steamboat Pilot & Today / Taken by John F. Russell.

 

Routt County Real Estate Analysis

February was a strong month for real estate sales in Routt County. Gross sales for the month totaled $32.3M, up +99.45% compared to February 2015.  This comprised 63 transactions, an increase of +28.57% compared to last February. Almost half of the months sales were properties sold under $400K however it was 2 sales of over $3M which made up 34% of gross volume.

Steamboat Springs, CO Real Estate Report

Tuesday, November 24th, 2015

Steamboat Springs, CO Real Estate Report

 

Sunrise over the Yampa River

Sunrise over the Yampa River

 

Happy Thanksgiving!

Steamboat locals and snow-lovers alike are particularly thankful this time of year because this is the week that Steamboat Ski Resort opens for the season! The ski area will open with its annual Scholarship Day tomorrow, Wednesday, November 25. This opening day tradition at Steamboat Resort is a fundraiser for the Steamboat Springs Winter Sports Club Scholarship Fund and has raised over $850,000 since 1991/92. Tickets are $30 for top-to-bottom access or $20 for the lower mountain. *Please note: season passes will not be accepted on Wednesday. The mountain opens for the season on Thanksgiving Day.

Routt County Real Estate Analysis

September was a good strong month for Routt County real estate transactions. Gross sales for the month were $58.9M, although that is down -27.6% compared to September 2014, that month last year was kind of anomaly with two $30M transactions. Overall, gross sales are up +4.2% for the year. 133 transactions were closed in September, up +3.69% YTD. 

Steamboat Springs, CO Real Estate Report

Saturday, November 7th, 2015

Steamboat Springs, CO Real Estate Report

snow and ski swap

 

Steamboat locals have packed away summer outdoor gear and are breaking out winter gear and clothing as we watch the slopes of the Steamboat Ski Resort being covered in snow, beautiful snow. Speaking of ski slopes, if you are still in need of gear or clothing, check out the annual Steamboat Springs Winter Sports Club Ski & Sports Swap.

 

Routt County Real Estate Analysis

Routt County is seeing resurgence in new home builds, echoing the national uptick in new home starts. According to an article in the Steamboat Pilot & Today on October 27, there were 5 new home building permits issued in September, all for homes with valuations of $829,000 to $1.4M. Two of those are for land initially purchased in 2004 before the market slowdown. Construction crews around town are busier now than they have been in years, not just with new builds, but also with remodels and additions. All good signs for the Routt County real estate market.

Steamboat Springs Real Estate Report

Tuesday, October 13th, 2015

Steamboat Springs, CO Real Estate Report

 

Yampa Valley Fall Colors

Yampa Valley Fall Colors

 

I hope you were able to see the beautiful fall colors here in the Yampa Valley over the past few weeks. At this point, most of the leaves have fallen and the mountains are looking ready for snow.

Speaking of which, you know that Old Man Winter is just around the corner, right? Is your home ready? Click here for a checklist of things to do to prepare your home for the cold and snow.

Routt County Real Estate Analysis

August continued the trend of strong real estate numbers and transactions for Routt County. Gross sales for the month was $62.4M, up +24+% compared to August 2014 and up +11.79% year-to-date.  150 transactions were closed in August. That’s the most transactions August has seen in 5 years.


Residential Transaction Price Point Analysis

 

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of volume

Previous month % of volume

Steamboat Spring Real Estate Report

Wednesday, September 2nd, 2015

The Real Estate Report for Steamboat Springs, Colorado

Camping along the Elk River

Camping along the Elk River

School has started here in Steamboat Springs and like many families, we are trying to squeeze in as much outdoor fun as we can before we put our flip flops away.

By the way, did you know that 4th graders and their families get free admission to National Parks until August 2016? Click here for details.

Routt County Real Estate Analysis

June was a great month for Routt County real estate but July was even better. Gross sales for the month was $80.6M, up +32.1% compared to July 2014 and up +9.68% year-to-date.  168 transactions were closed in July up +54.13% compared to July 2014.

Pending Sales UP

Pending Sales UP

 Sales and UP

Sales and UP

 


Residential Transaction Price Point Analysis

 

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of volume

Previous month % of volume

Under $500K

74

63%

70%

37%

41%