It’s a roller coaster ride for the Steamboat Springs real estate market

June 4th, 2011

It’s roller coaster for the Steamboat Springs real estate market

It’s just my opinion, but I base it off of facts. Up until 6 months ago, the Steamboat Real estate market, and speaking in general terms, watching and predicting the real estate market has been like riding an intense roller coaster.

Steamboat Springs Real Estate Roller Coaster

Steamboat Springs Real Estate Roller Coaster

We’ve all seen news reports of rising and lowering unemployment, of massive foreclosures and declining foreclosure, of rebounding markets then a double drip in home prices. It’s been month after month of highs and lows and ups and downs enough to make people sick.

Highs and lows in real estate in Colorado

Highs and lows in real estate in Colorado

But over the last 6 months, I feel the Steamboat Springs Real Estate market has been reduced to a more children’s roller coaster than one that makes people sick.

Stabilizing Steamboat Real Estate Market.

Stabilizing Steamboat Real Estate Market.

Here are some observation over the last few months:

• Up – We have half the amount of bank-owned properties on the market today versus 6 months ago.
• Down – After a decent March, sales tax revenues are down for April
• Up – Foreclosure filing seem to be slowing down. Less filing over the last 2 months and only 3 last week in Routt County.
• Down – Case Shiller Home index prices show another decline in home prices by 4.2 %
• Up – More showings in Steamboat. People are out looking at real estate and sales are up a bit.
• Down – Home sales down nationwide.
• Up – Interest rates continue to stay low.

I don’t think we’ll be able to get off this smaller coaster anytime soon, but at least we’re not inclined to throw up with each new report.

—For more on this topic or questions regarding Steamboat Springs real estate in Steamboat Springs, Colorado, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com.

Thanks,

Charlie

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