Good coffee is important. Bad coffee might just not be worth drinking. In Steamboat Springs, we have several choices for coffee – some good, some not so good. But at least we have choices. And today, a study was released stating that coffee drinkers are a little more likely to live longer.

A recent coffee study has found that drinking coffee might give you more time to . . . drink more coffee.  That’s right, the result of this study says that if you drink coffee you will live a bit longer. CNN released this story on the goods of drinking coffee as well.

So for those looking for good coffee in Steamboat Springs, here are some places you should go:

Amante coffee house in Steamboat - these beans get it. I’m talking good coffee, great crema and all the usuals like latte, cappuccino, macchiato, mocha, or americano. And yes, they do foam.

Steamboat’s Steaming Bean - Not a decadent as Amante, but still and good cup of coffee and great baked goods too. Nice atmosphere and decent art on the walls.

Milk Run Donuts - They got donuts down and the coffee pouring fresh too.

The Steamboat Library wins the sleeper award for good coffee. I hear they have something to do with Amante, there’s that place again. But there are times that some of my best macchiatos come the the public library.

Amante coffee at the Steamboat Library

Zillow.com, Homes.com, Trulia.com, and Realtor.com are syndication real estate website like pretty slick and offer some cool tools and decent information.  I’m all about providing real estate information and in some ways I like the theory of these sites.  These are very popular real estate websites and have a huge national presence. But these real estate sites are all about revenue.

The problem with these syndication sites is the data they provide is often inaccurate and misleading real estate information. These are nation real estate websites. But people use them for their specific, local real estate markets. And these websites do not have direct feeds from local MLS’s throughout the country. So they get their listings or MLS data from other sources. And many times, that information is wrong and misleading.

I’m a Realtor in Steamboat Springs, Colorado and the video below shows many examples of how these syndication real estate sites mislead the public about real estate in Steamboat Springs. These are real examples of how Zillow.com, Trulia.com, homes.com and realtor.com provide poor information about real estate in Steamboat. 

Regards,

Charlie

Skiing in Steamboat Springs is some of the best skiing in Colorado. The tree skiing is fantastic and worth every penny spent on a season pass.

June 1, 2012 is the DEADLINE for SAVING.

Adult (18-69)  $959

Teens(13-17)  $529

College             $719

Child (6-12)    $299

Kids ski free (12 and under with adult)

June 1, 2012 is the deadline to save. Go to Steamboat Springs for more information.

$99 DOWN by June 1.

Prices go up to $1,069 June 2 – August 16. Then it’s $1,279.  BUY TODAY

See you on the slopes,

Charlie

See the first Jim Abbott video here.

Syndication websites are websites like Trulia.com, Zillow.com and Realtor.com. These sites have one purpose: TO MAKE MONEY.

There syndication real estate websites appear as if they provide accurate data to the public regarding real estate. They appear as if they ARE the MLS (Multiple Listing Service). They appear to be the unbiased source for real estate information. The local real estate expertise. But they are not. These sites are around to make money.

Unfortunately these sites have gathered enough traction in our information thirsty age that they are thriving. They are very popular and higher ranking sites in the eyes of Google.

Information to the public is great. Don’t get me wrong, I’m all about providing accurate information. The problem with these sites is they don’t provide accurate information. Because these syndication sites don’t get instant updates for the “real” MLS’s, the data could be absolute, misleading and more importantly, inaccurate.

To give you some examples of what I mean:

When I go to these sites it takes me less than a minute to find something inaccurate with the data. It might be a home that’s for sale that sold 6 months ago. There might be a home for sale that was withdrawn from the MLS over  a year ago – but it still appears to be for sale. Prices are inaccurate, thus this makes all their stats inaccurate as well.  This inaccurate information does nothing for buyers or sellers.

Back to money $$$$.  Take a look at these sites, 1/3 to 1/2 of the webpage is dedicated to advertisements. Primarily these ads are: Click here to: “contact the local real estate expert.”  Now these might be experts or they might not.  One thing’s for sure, these real estate agents decided to pay for these ad placement. Literally, thousands of dollars are spent by agents every year to have their face appear on these websites.

I like the concept of these sites. They a pretty cool website offering some rather slick ways to value and view real estate. But the information they provide is only as reliable as the information they put in – and that information is not always accurate.

Regards,

Charlie Dresen

Is the Steamboat Springs Market Getting Better?

According to Inman News, for the 7th month, national home prices of non-distressed properties have declined.  But those are nation numbers. Remember, real estate is local.  Entry-level homes in Steamboat Springs are selling well, and there has been a resurgence in many luxury homes around Steamboat as well.  We’ve seen increased sales across the board, with the most desirable homes being entry-level homes in close-in neighborhoods such as Fish Creek Falls area, the Mountain area and even a strong uptick in Old Town.

So, what’s different this time? Is this just an uptick on the graph that will quickly be pulled down by the shadow inventory and new distressed sales of foreclosed home?  Or are we truly pulling out of the mire of dismay and dismal market we have suffered through for four years?

steamboat springs pictures of real estate

The March numbers came out for the real estate market report this week. Keep in mind these are Steamboat Springs real estate transactions that closed in March, 2012. This means these properties went under contract roughly 30-60 days prior, or in January and February. I monitor the pending sales each months and back in January there were only 77 pending properties. Today there are 143. What this means is that we are just starting to see all these pending sale begin to close. In other words, the future looks a lot brighter than these March numbers. Here’s the trends for pending sales the last 5 months:

Dec. = 71

Jan. = 77

Feb. = 102

March = 132

April = 143

·  3/27/2012 $2,725,000 One Steamboat Place at Apres Ski Way Condo Unit R-704 aka 2250 Apres Ski Way, #R-704 – 4 Brm 4.5 Bath YOC 2009 with 3,265 SF Living Area.  PPSF $834.61.  This is a new construction sale, located in the Steamboat Mountain Area.

·  3/2/2012 $4,000,000 Strawberry Meadows MDSE Subd Lot 2 aka 40455 Virtus Way – 6 Brm 6.5 Bath YOC 1992 with 10,351 SF Living Area on 35.38 AC Land.  (this includes the caretaker unit)  PPSF is $386.44.  This sale is located in the Strawberry Park/Elk River Area.

I also wanted to include some other interesting facts:

Here is a list of the bank owned or foreclosed properties that sold in March.

ROUTT BANK SALES MARCH 2012

Buyer Profile for March 2012

Listing to solds 2000 to 2012

And here’s a recent video on the improving market.

The absorption rate for Steamboat Springs Real Estate is showing the rebound is happening. The absorption rate is a strong indicator of the health of the real estate market. I high absorption rate says people are buying real estate. It’s usually shown by the amount of months of inventory.

A healthy real estate market is 5-7 months worth of inventory that’s on the market. 16 months ago we were at 18 months worth of the real estate inventory. Today, for single family homes we are at 8 months worth of real estate inventory in Steamboat.

So the real estate economy in Steamboat Springs, Colorado is well into a strong rebound which is encouraging news for real estate in Steamboat Springs and the areas of Fish Creek, Old Town, and the Mountain area.

Video on the Absorption rate in Steamboat Springs, Colorado for April 2012.

Absorption rate in Steamboat real estate has gone form 18 months of inventory a year and a half ago to roughly 7 months of inventory. Bend Oregon has seen similar real estate trends and they are seeing such a reduction in inventory that multiple offers and prices are on the rise.

Recent Case Shiller numbers we not as friendly to real estate values. Sorry, English teachers, I know Case –Shiller has nothing to do with real estate value. But it wasn’t not all negative.

Prices were up compared to a year ago in just five cities: Denver, Detroit, Miami, Minneapolis and Phoenix.

The continued down markets are attributed to the continued declines in most of the country in large part to rising foreclosures, which they said are reducing prices and keeping new-home sales weak.

“Foreclosed homes are usually sold at steep discounts, thereby lowering average prices. And by expanding the supply of low-priced previously occupied homes, foreclosures tend to limit demand for new homes.

Some economists expect foreclosures to keep prices under pressure this year, even though they think sales of previously occupied homes will rise.

Banks are stepping up foreclosures in about half the states. The increase comes after state officials settled a dispute in February with five of the biggest mortgage lenders over foreclosure abuses.

“Foreclosures, excess supply and weak demand will drive home prices … down at least another 5 percent,” said Patrick Newport, an economist at IHS Global Insight.

Stan Humphries, chief economist at the real estate website Zillow, said it’s normal in the early stages of a housing recovery for prices to keep sliding even as sales start to tick up.

“This is all part and parcel of the bottoming process,” he said.

Yelena Shulyatyeva, an economist at BNP Paribas, said she expects 1 million homes to be foreclosed this year, up from 800,000 in 2011.

Mark Vitner, an economist at Wells Fargo, said there’s also a divide between so-called “distressed” home prices and the rest of the market. Distressed homes include foreclosures and “short sales.” Short sales occur when lenders allow homes to be sold for less than what’s owed on the mortgage.

Home-price indexes that exclude distressed properties suggest that prices are inching up.

For non-distressed properties, “there’s really some intense competition out there,” Vitner said. “A lot of houses are getting multiple bids.”

Humphries estimates that foreclosed homes made up about 20 percent of February sales. That figure has been 15 percent to 20 percent since late 2008, he said. In a healthy market, it’s usually less than 5 percent.” (Seattle Times)

National Geographic put the feelers out for the “25 World’s best ski towns.”  Now I assume they are not talking about  the 25 best ski areas. That might something completely different. Ski Towns are something, as Aaron Teasdale put’s it: Just what makes a classic ski town? It starts, naturally, with skiing and snowboarding so good they attract people like youth-bestowing fountains. Then add an inviting mountain burg steeped in ski heritage, amenities, and culture. These are the 25 best. For insider tips, we asked local luminaries where to stay, play, and party, whether you’re on a budget or indulging.

Steamboat Springs voted World's Best 25 Ski Town

I’m not too surprised Steamboat Springs made the list. After living here for 7 years I can tell you it’s a pretty special place. Yes, the skiing is great and yes, it’s a great town. But it’s all the other stuff that puts it on the list of the World’s Top Ski Town. Ski heritage, amenities, and culture are what really define Steamboat Springs. And with 79 Olympic skiers coming from Steamboat Springs, well that says a lot. Steamboat is also located in a valley with the wild Yampa river flowing through town. And  the natural hot springs are just  . . . dreamy. And then there’s the cowboys. And cowgirls and yes, we have plenty of them. Take a look at the summer months of Steamboat.

Howelsen Hill in Steamboat Springs

Steamboat Springs is keeping good company with: Chamonix, France, Telluride, Colorado, Sun Valley Idaho, Niseko, Japan, and more.

RealtyTrac Inc. reported today that the number of homes receiving first time foreclosure notices nationally rose 7% in March from February numbers. This marks the third consecutive month this year that foreclosure notices have increased  nationally. It was a known fact that shadow inventory exists, and now it’s becoming evident just how many unpaid mortgages were hung up in the banking system awaiting a court settlement that came through in February. With the $25B settlement reached, it’s clear that banks have resumed their quest to address unpaid mortgages.

We have a brighter picture in Steamboat Springs, although truth be told, it’s only brighter on paper, because for those Steamboat Springs home owners being foreclosed on, there’s nothing good about this news.

* In Steamboat Springs/Routt County, 65 foreclosures were filed in the first quarter of 2012

* This first quarter foreclosure number puts Steamboat Springs on pace for 46 fewer total foreclosures than last year

* The first quarter total of 65 projects out to a total of 260 foreclosure filings for the year, which is still a large number when compared to the first part of the last decade when total foreclosure filings for a Steamboat Springs year averaged between 40 and 60

* In an effort to sell listings that have been languishing on the market , Trailhead Lodge is holding an auction on May 6th. In cases like this, proactive action beats the alternative.

Trailhead Lodge in Steamboat Springs

While the number of foreclosed properties in the Steamboat Springs market varies daily, the total as of this writing is 28. The current active foreclosure inventory is easily accessible at SteamboatsMyHome.com. Keep in mind, a short sale is different from a foreclosure, and each is addressed differently from the sell side as well as the buy side.