“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

About Steamboat Springs' Mountain Area

Steamboat Springs Highmark Auction

Eliese Pivarnik, Colorado Group Realty,  RSPS, CDPE Steamboat Real Estate: Real Estate Agent in Steamboat Springs, CO

The Highmark is a newer walk-to-ski luxury development in Steamboat Springs, CO with 15 luxury condos set to be auctioned off on March 12th. (The original date was March 4th). The Highmark is located across from the new One Steamboat Place and Market on the Mountain at the corner of Village Drive and Apres Ski. One of the Highmark condos will be sold without a reserve (most likely one on the second floor with limited views), although most have a reserve price that needs to be met.

In addition to the auction, there is a top floor Highmark penthouse that has been foreclosed on and is currently listed at $1,500,000, or more than 50% off the original purchase price of $3,200,000. The sale of this condo is unrelated to the auction and could be a very good opportunity for a buyer. This condo is beautifully decorated (the furniture can be purchased separately for $50,000) and has non-mountain views to the south.

Although The Highmark has had its ups and downs, I toured this property with prospective buyers recently and was pleasantly impressed. Depending on how low the reserve price is set, these could be a good buy. The Highmark is a quick walk to the mountain and it has good rental potential.

Learn more about Steamboat real estate at Steamboat's #1 real estate blog.

Click here to search all Steamboat ski condos.

Current Status of Intrawest

Jon Wade  in Steamboat Springs, CO: Real Estate Agent in Steamboat Springs, CO

Living in a resort community a substantial part of the economy is driven by tourism and the success of Steamboat Ski and Resort. News came yesterday that a public notice of foreclosure was posted by Intrawest’s lenders, stating the auction to sell Intrawest’s assets will be held on February 19th. Whether this will proceed according to the lender’s notice, will only be told in the coming weeks. Intrawest is the current owner of Steamboat Ski and Resort.

The Lehman Brothers along with Kempner Capital Management are Intrawest’s primary creditors. After Intrawest missed the latest payment of $524 million, on a $1.4 billion loan, the lenders posted the threat of auction. Intrawest’s owner, Fortress Investment Group, stated yesterday that they continue to own and control Intrawest and all of its properties at this time. ‘Intrawest spokesman Ian Galbraith said no company assets have been seized, and it’s business as usual for the Games. Galbraith called the notice of auction…a standard practice by lenders during refinancing discussions.’

The New York Post reports that ‘by forcing Intrawest into bankruptcy, Lehman and other creditors could raise several billion dollars repossessing Intrawest and selling off its various resorts.’ Another possible scenario is Galbraith’s explanation, that the lenders are using the Olympics as a means of grabbing more attention to the situation, increasing the pressure on Intrawest for the most recent missed payment.

What does this mean for Steamboat? Depending on how this situation plays out, it could result in different scenarios. The 2 solutions I see as most likely are that either Intrawest will re-finance with Fortress's help and reduce their debt significantly or a new owner with cash will get the resorts for substantially less. This would result in a much better cash flow and the ability to invest in improved facilities. We will keep you posted on the change of status of Intrawest and how we expect it to affect Steamboat.

Edgemont in Steamboat Offers Upscale Ski-in Ski-out

Angela Ashby,Prudential Steamboat Realty , Broker Associate, EcoBroker: Real Estate Agent in Steamboat Springs, CO

view from a slopeside unit(view from one of the slopeside units)

I had the opportunity to tour the nearly completed Edgemont condominiums at the base area. The developer have done a great job at taking advantage of slopeside views as well as the surrounding views. These luxury condos have been appointed with mountain contemporary finishes and the views are great from every unit. This is truly ski-in ski-out and in some cases a private entrance off of the ski area. The decor is neutral yet rich with many special touches ranging from the doors, tilework, to the cabinetry. If you would like more information about this unique ski-in ski-out property in Steamboat please connect. angela@yoursteamboathome.com I have floor plans, details, pictures and available pricing that ranges from $869K to 4.9M. They offer 1 to 5 bedroom styles and have sold quite a few of these, which is great news for Steamboat!

Well Priced Duplex on the Mountain in Steamboat

Angela Ashby,Prudential Steamboat Realty , Broker Associate, EcoBroker: Real Estate Agent in Steamboat Springs, CO

I have to say, I'm a little surprised that one of the properties for sale at $995,000 and 4000 sf duplex is still on the market. Priced at just over $200/sf for new construction, this spot offers excellent views, proximity to the ski area, beautiful finishes, elevator, 3+ bedrooms and many other great features.

If you or someone you know is looking for a Steamboat Home to enjoy for years to come, there is much to choose from. I'm here most of the winter, so plan your trip and we will check out some of the incredible values. Whether you are spending $200k or $7m I have my eyes set on the top pics.

angela@yoursteamboathome.com 970.819.4897

The snows flying! Plan your next visit. Olympic trials here in December!

Private Ski Clubs in Steamboat

Angela Ashby,Prudential Steamboat Realty , Broker Associate, EcoBroker: Real Estate Agent in Steamboat Springs, CO

If you want amenities slopeside but don't want to purchase a ski-in ski-out condo to get them, Steamboat offers two great private club opportunities. St. Cloud Club is offering a one-year Discovery Membership for $4500 and sign up before Jan 1 and receive a $1000 credit for food and beverage purchased at the club. If you like what you see, then this money will be applied to their Cloud-Nine or Passport memberships. Well-appointed mountain contemporary design greets you after a long day of skiing.

Then, on the other side of the base area is The Summit Club Membership at One Steamboat Place. This membership is $65k and includes the amenities that the One Steamboat Place owners enjoy. Owner's lounge, spa, ski storage, parking, pool area, athletic facility and more. I recently toured this property and it is going to be a great addition to the ski area.

For more info on either of these clubs, email me at angela@yoursteamboathome.com or 970.819.4897.

Snow is falling and in the forecast for the next few days! Click here for the forecast.