The Bakery Opens in Steamboat Springs

Now open in Steamboat Springs a real home-town bakery, “The Bakery”. For home-made breads, sweets, birthday cakes and more The Bakery is the place to go. It’s about time too – especially for many of us who grew up in a town where visiting the bakery with mom was a big deal. The Bakery will be a great addition to the west end of Steamboat’s downtown business district and is sure to be a favorite among locals and visitors alike.

Doug Matthews, The Bakery’s new owner, offers four to five fresh baked breads, a variety of pastries and other baked goods daily. Lunch is available as well, and by March, dinner will be served too. “If it comes out of the oven, we’ll make it,” says Matthews. Nothing like a home-made sandwich on fresh baked bread to warm you up on a chilly Steamboat Springs winter day! Now you can have a home-made muffin for breakfast and a taco at the new taco stand, Taco Del Barco, while shopping in downtown Steamboat Springs.

The Bakery is located at 1117 Lincoln Avenue, downtown Steamboat Springs. So it’s a double win, we have another eating establishment in Steamboat Springs, and also a place to go for fresh baked breads and pastries to complete a home-cooked meal.

---For more information on buying real estate 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

Video Blog: Real Estate is Local and Steamboat Springs is Improving

Being a Realtor here in Steamboat Springs, I read and keep a sharp eye on national and local real estate trends. Just this morning, I noticed that real estate values are booming in Southern California and Silicon Valley. Sure Case Shiller show real estate values dropping within most cities, but that doesn't mean all homes are going down. Prices are up 14% in Beverly Hills.

If jobs are great in an area, or it's a desirable place to live, or you have fresh power to ski, real estate values can and will recover sooner than other markets.

So I thought I'd do a little video blog about how and why it's important to know that real estate is local and what that means to buyers and sellers of Steamboat Springs Real Estate.

Steamboat Springs’ Winter Carnival - Traditional, Fun & Unique

Steamboat Springs’ 99^th annual Winter Carnival will be held February 8^th – 12^th in Steamboat Springs, CO. The 5-day schedule includes a variety of alpine, Nordic, freestyle and snow boarding events as well as downtown Steamboat street events and activities. Two unique attractions set Steamboat Springs’ Winter Carnival apart: the High School Marching Band on Skis and The Lighted Man skiing down Howelsen Hill.

The Steamboat Springs Marching Band will be marching down Lincoln Avenue on skis during the Winter Carnival Parade like they have for the past 77 years. The Steamboat Springs High School Band was the first band to ever march on skis and they’ve been upholding their Winter Carnival tradition since 1935.

The Lighted Man made his first appearance in 1939 in an outfit weighing more than 100 pounds. The Lighted Man in this year’s Howelsen Hill Saturday Night Extravaganza will wear a costume weighing about 70 pounds which includes 32 Roman candles and 12 sky rockets. It’ll take 5-6 people to get the outfit on the lighted man who will then ski down Howelsen Hill to the delight of the crowd that gathers below.

The snow that covers Lincoln Avenue for the street events and parade come from the coordination of the Steamboat Springs Public Works Department who see to it that 400 plus tons of snow are in place by 6:00a.m. each day of the downtown events.

The Steamboat Springs Winter Carnival is sponsored by the Steamboat Springs Winter Sports Club and produced by numerous volunteers. It is always held the second week in February. Visitors plan their vacations around it and locals look forward to this fun annual event. It’s another example of the Steamboat Springs’ community coming together to continue a tradition and to celebrate the season Ski Town U.S.A. thrives in.

---For more information on buying real estate 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

Locally owned Yampa Valley Bank published 30 year fixed rates Thursday at 3.625% and 15 year fixed rates at 2.875%. I know I have said this before, but seriously, don't miss out...if you can qualify, now is the time to lock in the lowest mortgage rates ever!

Enjoy this week's real estate report as published in the Steamboat Today.

Anne Mayberry 970.846.1425

■ 111 N. Sharp St.

Seller: First National Bank of the Rockies

Buyer: James E. Hoff III

Sale date: Jan. 27, 2012

Sale price: $37,500

Property description: Office building built in 1996 on Lots 1 to 3 of the first addition to Oak Creek.

■ 1385 Sparta Plaza

Seller: Federal National Mortgage Assoc dba Fannie Mae

Buyer: Chad Allen and Rachel Lee Imker

Sale date: Jan. 27, 2012

Sale price: $74,900

Property description: 584-square-foot, one-bedroom, one-bath Condominium 4 in building Rho. Built in 1998 and sold for $230,000 in 2007.

■ 465 Tamarack Drive

Seller: Tracey S. Hughes Trust

Buyer: Andrew Connet Maloney and Yi Ju Chen

Sale date: Jan. 27, 2012

Sale price: $98,000

Property description: 688-square-foot, one-bedroom, one-bath Fish Creek Falls Condo B-06.

■ 2525 Village Drive

Seller: Steamboat Ventures Ltd.

Buyer: Layer 3 REV LLC

Sale date: Jan. 27, 2012

Sale price: $420,000

Property description: 1,568-square-foot, two-bedroom, two-bath Condominium 2D at The Highmark. Built in 2006.

■ 23628 Routt County Road 62

Seller: Paula Cooper Black

Buyer: Andy and Jessy Laws

Sale date: Jan. 27, 2012

Sale price: $276,500

Property description: 1,692-square-foot, two-bedroom, two-bath single-family home on 2.22-acre Lot 17 in Captain’s Cove Subdivison at Steamboat Lake. Built in 1983.

■ 1280 Athens Plaza

Seller: Nancy E. and Robert J. Peckham

Buyer: Glenn L. Underhill

Sale date: Jan. 30, 2012

Sale price: $180,000

Property description: Three-bedroom Walton Village townhome condo.

■ 31500 Runaway Place

Seller: Robin M. Livingston

Buyer: Karen Niemi

Sale date: Jan. 30, 2012

Sale price: $125,000

Property description: 1,127-square-foot, three-bedroom, two-bath Townhome 405 on three levels at the Timbers.

■ 23805 Peckham Lane, Oak Creek

Seller: Arlan Peckham

Buyer: Travis and Amber K. Ebaugh

Sale date: Jan. 30, 2012

Sale price: $235,000

Property description: Doublewide mobile home with roof on 38.22-acre parcel north of Oak Creek.

■ 40184 Lindsey Drive

Seller: Federal National Mortgage Assoc dba Fannie Mae

Buyer: James and Pamela Blanchette Curran

Sale date: Jan. 30, 2012

Sale price: $319,000

Property description: 3,516-square-foot, five-bedroom, 3.5-bath single-family home on 0.23-acre Lot 50 in Heritage Park. Built in 1999.

■ 703 Lincoln Ave.

Seller: Howelsen Condominiums Inc.

Buyer: Chester Richard and Jorene Collins Mills

Sale date: Jan. 30, 2012

Sale price: $693,500

Property description: 1,131-square-foot, two-bedroom, two-bath Condominium B301 in Howelsen Place. Built in 2008.

■ 2835 Alpenglow Way

Seller: Benjamin F. Zambrana, Katherine Zambrana and Benjamin C. Zambrana

Buyer: Philip E. and Lauren M. Armour Ake

Sale date: Jan. 30, 2012

Sale price: $450,000

Property description: 2,420-square-foot, four-bedroom, two-bath single-family home on 0.64-acre Lot 39 in Ski Ranches. Built in 1969 and sold for $213,000 in 1993.

■ 2100 Bear Drive

Seller: Michael J. and Wendy B. DuBord

Buyer: Dimitri James Mavriplis and Martine Paradis

Sale date: Jan. 30, 2012

Sale price: $880,000

Property description: 3,732-square-foot, three-bedroom, 3.5-bath single-family home on 1-acre Lot 18 in Running Bear. Built in 1998 and sold for $540,000 in 1999.

■ 2035 Walton Creek Road

Seller: Federal National Mortgage Assoc dba Fannie Mae

Buyer: Julia V. Hebard

Sale date: Feb. 1, 2012

Sale price: $111,000

Property description: 764-square-foot, two-bedroom, 1.5-bath Condominium A101 in Spring Meadows. Sold for $235,000 in 2007.

■ Rural Hayden

Seller: Judith M. Winograsky

Buyer: Grantwest LLC

Sale date: Feb. 1, 2012

Sale price: $85,000

Property description: 36.17-acre Parcel 1A2 in 480 Ranch.

■ Rural Hayden

Seller: Judith M. Winograsky

Buyer: Grantwest LLC

Sale date: Feb. 1, 2012

Sale price: $40,000

Property description: 35.47-acre Tract 1A1 in 480 Ranch.

■ 27906 Silver Spur St.

Seller: Christine M. France

Buyer: John Arthur Heit

Sale date: Feb. 1, 2012

Sale price: $123,250

Property description: 0.34-acre Lot 3 in Filing 1 of SilverView Estates. Originally sold by the developer for $72,500 in 2000. Valued for taxes at $153,000.

■ 662 Steamboat Blvd.

Seller: Lot 116 LLC

Buyer: David and Karen Jarrod

Sale date: Feb. 1, 2012

Sale price: $250,000

Property description: 0.68-acre unbuilt Lot 116 in The Sanctuary Filing 5. Sold for $499,500 in 2006 and valued for 2011 taxes at $600,000.

■ 444 Blue Sage Circle

Seller: J.T. Mountain Properties

Buyer: Robert and Terri Savage

Sale date: Feb. 1, 2012

Sale price: $369,000

Property description: 2,208-square-foot, four-bedroom, three-bath Townhome 2B. Built in 1998 and sold for $390,000 in 2004.

■ Routt County Road 129

Seller: Estate of Patsy Marlene Wilhelm

Buyer: Timothy S. and Janet F. Borden

Sale date: Feb. 1, 2012

Sale price: $500,000

Property description: 68.7 acres of agricultural land north of Steamboat Springs.

■ 2524 Copper Ridge Drive

Seller: Cynthia J. Dernay

Buyer: Joyce Lynn Volk

Sale date: Feb. 2, 2012

Sale price: $128,000

Property description: Concrete-framed commercial Condominium A-6 at Wescoin Ridge.

■ 13th Street

Seller: Michael A. Kortas

Buyer: William C. Mitchell II

Sale date: Feb. 2, 2012

Sale price: $30,000

Property description: Lot 11, Block 10 Miller Frazier addition to Steamboat Springs, lying east of Captain Jack Subdivision.

■ 24035 Arapahoe Lane

Seller: Nicholas D. Stevenson

Buyer: Elements LLC

Sale date: Feb. 2, 2012

Sale price: $22,000

Property description: 0.54-acre vacant building Lot 196 in South Shore at Stagecoach.

Total sales — $5,447,650

■ Pine Grove Road

Seller: Larry Moore

Buyer: Points of Colorado

Sale date: Feb. 1, 2012

Sale price: $55,900

Property description: Timeshare interest in The Suites at Steamboat.

■ Pine Grove Road

Seller: Harro Jolein

Buyer: Points of Colorado

Sale date: Feb. 1, 2012

Sale price: $12,772

Property description: Timeshare interest in The Suites at Steamboat.

Total timeshare sales — $68,672

Photos courtesy of Steamboat Springs multiple listing service, Routt County Assessor’s Office and the Steamboat Pilot & Today

Colorado Mountain Resort Real Estate Trends as Dubious as The Snowfall

Steamboat Springs’ real estate market did not earn great marks in the recent Colorado Mountain Resort Real Estate Trends released by Land Title Guarantee Co. As compared to 5 other Colorado ski resort counties, Routt County, home to Steamboat Springs, is the only county that decreased 6% or more on 5 key benchmarks* in 2011 as compared to 2010:

• Gross Sales Volume: -12.01% (Eagle & Grand Counties were down >6% as well)
• Number of Transactions*: -23.06% (All other counties were flat to up)
• Single Family Average Home Prices: -22.73% (Eagle & Garfield Counties were down >6% as well)
• Multi Family Average Home Prices: -33.52% (Eagle, Garfield & Summit Counties were down >6% as well)
• New Development: -52.51% (Eagle, Garfield & Summit Counties were down >6% as well)

*For Routt County specifically, there was a high number of fractional sales transactions in 2010 vs. 2011, so if you net out fractional transactions and compare improved units sales transactions only for 2010 vs 2011, Routt county is actually up almost17%.

Steamboat Springs’ Routt County real estate market historically has been most comparable to Summit County, home to Breckenridge, Keystone and Copper Mountain ski resorts. In 2007’s real estate market peak, Routt County/Steamboat Springs reported $1.58 billion in sales while Summit County earned $1.63 billion in sales. Fast forward to 2011, and there is a much wider gap in real estate performance on key metrics:

2011 Sales Dollar Volume
Routt County, Steamboat Springs = $450.6M (-12.01% versus 2010)
Summit County = $684.2M (-2.03% versus 2010)

2011 Single Family Homes Average Price Per Square Foot
Routt County, Steamboat Springs = $229.35 (-17.77% versus 2010)
Summit County = $252.68 (-6.11% versus 2010)

2011 Single Family Home Average Price
Routt County, Steamboat Springs = $631,224 (-22.73% versus 2010)
Summit County = $734,262 (-4.74% versus 2010)

While these 2011 year end numbers are certainly not good news for Steamboat Springs when compared to short term history, what they do point to is the potential for great improvement in the Steamboat Springs real estate market as we move into 2012. Reasons for optimism include: new jobs in the coal mining industry, lower inventory than we’ve seen in a while and aggressive sales and development plans for some key real estate projects. And for Buyers, Steamboat Springs is an incredible value right now, but inventory is decreasing in some key price segments. It remains to be seen how long it'll be before the supply/demand equation tips the scale to increasing prices in some of the more sought after price segments.

As I’ve stated before, the real estate market is local, and Steamboat Springs is not on the I-70 corridor which captures the majority of Denver visitors, a real estate market that has rebounded already. Steamboat Springs pulls a good portion of its buyers from out-of-state feeder markets many of whom have not had economic rebounds as yet. While poised for growth, the Steamboat Springs real estate market is somewhat more dependent on the national economic recovery and the availability of affordable mortgage financing for second/vacation homes than some of the Colorado ski resort counties we benchmark ourselves against.

---For more information on buying real estate 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