Archive for the ‘Sellers’ Category

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.

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)

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!

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

Thursday, February 2nd, 2017

Steamboat Springs, Year End 2016 – CO Real Estate Report

Year end figures for 2016 are here! Let’s review:

Routt County Real Estate Market 

We had projected, based on high “pending” sales during December and dollar volume that 2016 would exceed 2015. But well fell just short with volume less than 1% below 2015 numbers. December was a reasonable month but down from the same time last year with 131 Transactions and $79.9M in Gross Volume.  Compared to last December, Gross Volume was off by -19.45%, with the YTD. at -0.75%.  Transactions were also off by -7.75% compared to last December, with the YTD. at +5.63%.

 

I do however, predict the January and February numbers to increase because of the high amount of pending sales we have today.

 

*Figures compliments of Land Title Guarantee Company

*Figures compliments of Land Title Guarantee Company

 

Here is a quick snapshot of 2016 year end values for Routt County sales:

5 Key Steps To Selling A Home

Thursday, January 19th, 2017

5 Key Steps To Selling A Home

There are many factors that go into selling a home, which a good real estate agent will discuss with you. But here are 5 tried and true steps that every seller should prepare for and do when putting their home on the market:

An inviting walkway can set the mood as well as direct people to a discretely positioned front door.

1. Curb appeal. First impressions count, especially in real estate. If a buyer gets a bad impression before they enter the home, your house has to work that much harder to get their interest.

A beautiful front yard has a big impact, but if gardening isn’t your thing then at a bare minimum you should mow, remove weeds, rake leaves, trim branches that are overhanging walkways, straighten the patio furniture, and remove any items that might deter buyers. If it is winter then make sure walkways and driveways are cleared of snow and ice.

Steamboat Springs, CO Real Estate Report

Thursday, July 7th, 2016

Steamboat Springs, CO Real Estate Report

Happy Independence Day, I hope you had a fun and safe weekend of festivities! If you are in Steamboat Springs this weekend don’t miss the annual Balloon Rodeo and Art in The Park. Both events extend over both Saturday and Sunday and are great fun for all ages. Click on the links for more information.

 

balloon rodeo

Courtesty Steamboat Chamber

Routt County Real Estate Analysis 

May was a solid month with $47.8M in Gross Volume and 119 Transactions. Gross Volume was up by +0.39% from May 2015 and  transactions were up by +15.53% compared to last May, with the YTD at +3.38%

A snapshot of current values:

Average Sales Price:
Single Family -3%
Multi Family +3%
Vacant Land -34%

Median Sales Price:
Single Family +16%
Multi Family +11%
Vacant Land -39%

Average PPSF
Single Family +4%
Multi Family +6%
Vacant Land +31%

There are currently 179 pending sales, on July 1 2015 there were 185 pending sales.

Travel To SoCal Just Got Easier!

Friday, June 10th, 2016

Travel To SoCal Just Got Easier!

If you are a Steamboat Springs local who likes to escape the snowy winter for surf and sand, or if you live in Southern California and miss having 4 seasons (well, mostly winter) – we’ve got some great news for you! Alaska Airlines has just announced non-stop flights between Yampa Valley Airport and San Diego this winter! Check out the full news release here!

Pacific Beach

Pacific Beach, California

Steamboat Springs is already a renown destination for both winter and summer activities, but to now have seasonal direct flights to 12 major metropolitan areas is a major coup for our community. Direct fly in markets now include:

  • Denver
  • Houston
  • Dallas/Ft. Worth
  • San Diego
  • Los Angeles
  • Seattle
  • San Francisco
  • New York/Newark
  • Chicago
  • Minneapolis/St. Paul
  • Washington
  • Atlanta

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.

How Important is Price Per Square Foot?

Tuesday, March 22nd, 2016

How Important is Price Per Square Foot?  In some real estate markets it is not a pricing tool that holds much credibility. However in the Steamboat Springs real estate market, realtors, sellers and buyers all have a tendency to focus on square footage calculations and comparable sold and active homes. One could argue for or and against this, and both sides could have a valid argument:

Sold!

PRO: The biggest advantage of using price per square foot is that it is a tangible measure. It appears clear cut and therefore makes it easier to value a home and compare it to other listings.

PRO: For much of the Steamboat inventory, many condos are just like the others. So Price Per Foot can be used.

PRO: Price per square foot is the primary calculation tool used by many appraisers so it can be important to know these figures in your local market. Unless its a cash sale, this impacts both buyers and sellers even though they may not realize it.