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.
-“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.
This is a preview of Today’s New Housing Market, Part 3 of 3: Owners. Read the full story.
Routt County Real Estate Tax Assessment- Don’t Freak Out
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!
This is a preview of Routt County Real Estate Tax Assessment- Don’t Freak Out. Read the full story.
Marabou Ranch sells remaining lots for over $11+ million dollars. The Marabou Ranch Subdivision , one of Colorado’s premiere fishing developments, sold last month to an investment group with ties to William Stolz and the Stolz Group out of Georgia.
Sales for March:
Dollar volume was up 46.5% the month of March compared to last year! However, that is a little misleading because the actual number of transactions was 28% less than the same time last year. We just had two, high-end, five million dollar sales which threw our numbers off a little. Three sales over 3 million dollars grabbed 46% of the dollar volume of sales.
This is a preview of Steamboat Springs Market Report May 2013. Read the full story.
CNN Money just did a 3 part series on “smart strategies for buyers, sellers and owners” in today’s new real estate market. After 6 years of a housing collapse, we are seeing a significant improvement. Maybe we are at the bottom? Maybe we saw the bottom pass several months ago? If we had a crystal ball, you wouldn’t be reading this and I wouldn’t be writing it.
Currently in the Steamboat Springs real estate market, the inventory of homes under $1.5 million is really low. The absorption rate in the Fish Creek Area of Steamboat Springs is just over 2 months – if all things stay the same, that means in two months, all the houses we have to sell in that category should be sold! Because prices of real estate are based on supply and demand, if inventories remain this low, prices will rise . . . and fast.
This is a preview of Today’s New Housing Market, Part 1 of 3: Selling. Read the full story.
There are many indicators that our recovery from the Great Recession is on the upswing and the housing market plays a major role in this. Standard & Poor’s 500 closed recently one point away from the all-time high from October 2007. But that is only interesting to approximately 53% of Americans who are in the stock market. According to a 2012 Gallup poll, this is the lowest number since Gallup started tracking this number. A lot of people are not that confident in the stock market . . . another interesting statistic is close to 100% of Americans live inside. I haven’t verified this data but, I’m pretty confident. That is one reason the housing market is such a good indicator of our economy.
This is a preview of Housing Plays a Major Role in our Economy. Read the full story.
Change is good, and usually, we fight it. But some change is good. Take for example winter, it will change, spring is definitely coming to Steamboat Springs. As the snow melts, we are seeing glimpses of green grass and hyacinth sprouting around the 3-foot berms of snow we still have lining our driveways. There is such a thing as change for the better. Fortunately for our economy, change in the housing market is on its way.
In our local paper, the Steamboat Today, the numbers for Routt County building permits were just released. The regional area has seen an increase of 33% for the first 3 months of 2013 compared to the same time period in 2012. The permit valuation was up from $14 million in 2012 to $21 million in 2013. Historically, the first quarter only reflects approximately 15% of the total permit valuation for the year so things are looking brighter. Three major projects highlight the building permits: The Holy Name Catholic Church, Four Points Lodge at the ski area, and an 8-unit apartment building in Old Town.
Yes. Yes. Yes. The real estate market in Steamboat Springs is improving . . . rapidly.
Today just might the best time to invest in real estate in a long time. Prices of Steamboat Springs real estate is down. Interest rates are at a new lows. And consumer confidence is rising. If you think about a roller coaster, we are just about to climb up in real estate values. In fact, we’re already seeing prices rise. So get in while rates are still low.
In Denver and Steamboat Springs, absorption rate is 2 months for single family homes. So it’s not that easy to find the homes of your dream. Inventory might go up this summer, but I’m not confident that will occur.
This is a preview of Is it Time to Buy a Home in Steamboat Springs?. Read the full story.
146 pending sales today! There’s never a dull moment in Steamboat Springs real estate. I just viewed a home that was on the market for 2 days had 12 showings and multiple offers. If you’re a seller, things are looking up! If you are a buyer, we’ll have to work a little harder…Roughly 30% of the market here is on fire. The remaining market is still flat
Here are some of the highlights for the real estate market in Routt County-double click the images to see larger:
Routt County Transactions:
February home sales increased by 37% from January in gross dollar volume. Total transactions were up 36% from January.
Routt County Transactions
(double click images to see larger)
Market Analysis by Area:
As usual, the Mountain area leads the total number of transactions in the month of February getting over 28% of the total volume (yes, the column title is wrong but you get the idea.)
This is a preview of Steamboat Springs Real Estate Market Report April 2013. Read the full story.
As a Realtor in Steamboat Springs, I see a lot of houses. Thankfully, there’s enough creative architects in this world to make my job really fun. The architecture in Steamboat Springs, Colorado is very mixed. But I can usually find some inspiration in almost every home I tour.
Most buyers of real estate buy a home that comes the closest to their needs at that particular time. Price, location, size and architecture all fall by way of chance. So again, I’m thankful for architects that put their creative touches on homes for people to buy and sell. I listed this home last fall. It sold in 3 days with multiple offer. Cool home + good marketing = happy clients.
Here’s some great ideas for taking advantage of natural light . . .which we get a lot of in Steamboat.
Ideas for Steamboat home 1
Ideas for Steamboat home 2
Ideas for Steamboat home 3
This is a preview of Architectural Ideas for Natural Light. Read the full story.
"I got a very good price for my townhouse in the midst of so many other units underbidding me by up to $50,000. Charlie remained confident that our price would sell and he was right!!! It was a wonderful experience working with Charlie Dresen, I will most certainly refer him in the future."
