Steamboat Springs, CO

Once again the pending sales are over 100 which is a great sign for many Sellers. The products range from a 2 bedroom Whistler town home listed at 230k to a $1.8M home in the Sanctuary. Some folks are seriously trying to take advantage of the first time home-buyer tax credit and others are paying cash for some really great properties. All kinds of buyers have been swarming the market here.

Real Estate transactions for Aug. 28 to Sept. 3, 2009 - From Steamboat Pilot & Today

http://www2.steamboatpilot.com/news/2009/sep/06/real_estate_transactions_aug_28_sept_3_2009/

Hike in the Sanctuary

Here are a few articles from Steamboat Pilot & Today to catch you up on what's happening in and around Steamboat.

Improvements mostly on schedule at Steamboat Ski Area base

http://www2.steamboatpilot.com/news/2009/sep/05/improvements_mostly_schedule_steamboat_ski_area_ba/

Labor Day weekend events through Monday

http://www2.steamboatpilot.com/news/2009/sep/05/labor_day_weekend_events_through_monday/

Public gondola going up

http://www2.steamboatpilot.com/news/2009/sep/03/public_gondola_going/

As a Steamboat Realtor trying to stay ahead of the trends, I recently completed my Certified Distressed Property Expert certification to have a better knowledge of Steamboat area short sales and how to help homeowners avoid foreclosure.

If you are a Steamboat property owner who is behind on your payments and searching for options, selling your home in a short sale may be what you need to get out of debt and move forward.

Certified Distressed Property Experts (CDPEs) have reported a 49 percent decrease in the average time to complete a short sale after achieving the CDPE Designation, according to a new survey from the Distressed Property Institute. Before becoming a CDPE, the average time for these agents to close a short sale was 53.01 days, compared to 27.26 days after becoming a CDPE.

“No other real estate designation in the country can claim these results,” said Alex Charfen, co-founder and CEO of the Institute. “CDPEs are making a clear and definable difference in the real estate market by assisting distressed homeowners to stay in their homes or, when this is not possible, by helping them sell through a short sale.”

Many people behind on their mortgage (and nationwide it is 1 in 10 households) think foreclosure is their only option. Very few talk to a Realtor who has been trained in short sales about their options to save their credit while selling their house.

A successful Short Sale can impact a credit score by as little as 50 points if all other payments are made. The effect of a short sale on credit can be as brief as 12-18 months vs. at least 10 years for a foreclosure. Foreclosures also affect credit by lowering a score by 250-300 points.

The qualifications for a short sale include any or all of the following:

• Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
• Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
• Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Steamboat saw a huge price increase and a record real estate year during the last year of free lending. Those mortgages are now being re-set and more people are falling behind.

The short sale process requires a lot more work than a straight sale, but having people able to get out from under the burden of debt while maintaining their credit score makes it worth it.

Please call Eliese at (970) 819-6372 to discuss listing your Steamboat home as a short sale.

Michelle and Clay Garner have joined Prudential Steamboat Realty and their network of Steamboat’s leading broker associates. The announcement was made by Cam Boyd, co-owner of Prudential last week. “These agents share Prudential Steamboat Realty’s commitment to client satisfaction and a competitive drive in the real estate market. They are exactly the type of associates we are seeking, as we continue to grow and develop as a company.”

Michelle and Clay come to Prudential with from Intrawest owned, Steamboat Ski & Resort Realty. Clay has lived in the Yampa Valley for over 20 years now, while Michelle fell victim to the Yampa Valley curse a few years ago. The Garner team is a great addition to the Prudential network, and we are happy to have their strong work ethic and professional approach on our team.

When asked about their decision to move their licenses to Prudential, Michelle said, “We asked ourselves "where do we want to establish our real estate business?" And the obvious answer here in Steamboat Springs is Prudential Steamboat Realty. Prudential offers a solid foundation for agents to build a successful career selling real estate. They have implemented systems and continue to perfect and build upon those systems, and this practice offers a great deal of support to an agent. Our business as well as our clients will benefit greatly from the professionalism of the firm.”

Prudential Steamboat Realty is Steamboat’s premier real estate brokerage. Prudential Steamboat Realty, Inc. has 44 licensed broker associates professionally trained and experienced in sales and development of Real Estate in Steamboat Springs. Our headquarters is an 8,000 square foot office located at the gateway to the ski area. Open seven days a week, we are highly efficient with the latest in technology and a superb support staff. For more information about Prudential Steamboat Realty, visit www.PrudentialSteamboatRealty.com.

Come to Steamboat for some Coffee!

Good news from the mountain as they are investing money into the kids program/building. Infrastructure plans also underway for promenade and Burgess Creek redirect. Showings and pending sales are definitely on the rise too. Our office reported highest showings per month in a very very long time.

Click on the Steamboat Pilot link for more on improvements:

Ski Corp. announces $2.5M in projects

http://www2.steamboatpilot.com/news/2009/aug/25/ski_corp_announces_25m_projects/