Eliese Pivarnik, Colorado Group Realty, RSPS, CDPE Steamboat Real Estate

Like the rest of the nation, Steamboat Springs real estate sales have slowed. Credit is harder to get, and buyers are sitting on the sidelines waiting to see how the real estate drama plays out before making a move. Who wouldn’t? The headlines talk about how awful the real estate market is in some parts of the country and everyone thinks the bad news also applies to their neighborhood.

First, the facts. The median price for Steamboat Springs real estate is up 4% over last year.

The good news for real estate buyers is that Steamboat is a buyer’s market right now. That means if you’re looking to purchase, you have your choice of homes and can take some time to find the perfect one. You don’t have to settle for a place you saw for ten minutes before making an offer. You might even get a lower price accepted.

Some people are selling Steamboat real estate to cover losses in real estate in other parts of the country, so good buys are out there.

Contrast this year to last year when Intrawest purchased the Steamboat Ski Area and people couldn’t buy Steamboat real estate fast enough.

Here is the difference a year in the Steamboat real estate market makes:

The wrecking balls haven’t arrived yet in Steamboat to tear down Ski time Square, but they're coming. The rumor was that Ski Time Square would be demolished as soon as the ski season ended, but they need to take care of a few things first.

Here is the current timeline (as of April 17, 2008):

Mid-April—Mid-May: All furniture and reuseable building materials are going to be liquidated and sold. The developers want to recycle as many things as they can. They will salvage cabinets, plumbing materials, solid-core doors, and literally anything in the buildings that has a value to someone.

A green privacy fence will go up around the construction site keeping people out.

Mid-May-August: All hazardous materials will be abated. There is about 30 truckloads of ceiling texture and a small amount of flooring tiles that need removed before the tear-down can start.

August-October: Demolition time. Excavators will rip the buildings down, and trucks (5-20 a day) will remove the debris. By November, there will be empty lots with fencing where Thunderhead Lodge and Ski Time Square are now.

November-April: The site will be vacant all winter. Enjoy the views!

Next summer: ONLY the Thunderhead location--Buildings A and B--will be constructed. Ski Time Square will remain an empty lot. Buildings A and B are scheduled for completion in 2011. There will be a “branded” hotel/condotel/private residence club like a Ritz or Four Seasons. (No specific names have been named.)

To see artist sketches, visit the Ski Time Square Redevelopment site and scroll to the bottom.

The Steamboat Springs Real Estate market is holding its own in this national real estate slowdown.

If you look at the chart above, you'll see that Steamboat Gross Dollar Volume is down from last year (no surprise, when you consider that we had a record real estate year following the sale of the Steamboat Ski mountain to Intrawest). However, Steamboat Springs Real Estate sales are up 70% from January, 2006 and up 22% over February, 2006. The number of sales is down, but prices are up.

There are some great buys out there for people who aren't afraid to buck the trend and buy Steamboat Real Estate when everyone else is in wait-and-see mode.

These Steamboat properties were reduced today:

2100 square feet Apres Ski Townhome--Reduced 8.5% to $490,000!

2 Bedroom Starter Townhome in Whistler Village--Reduced 5% to $304,500!

6.5 acres (three lots) in Sky Hitch in Stagecoach, Colorado--Reduced a whopping 11% to $235,000!

For more information about Steamboat Springs, Hayden, Stagecoach, and North Routt Real Estate, Email Eliese or call (970) 819-6372 and be sure to visit SteamboatHomeSales.com

The 2007-2008 Steamboat Springs ski season will go down in history as an epic, record breaking year. Almost 500"of snow fell this season (okay, it was really 489") and it hasn't stopped yet.

Can someone just shut the snow off??? It's been great, but now that the mountain is closed, it's time for spring. (Next year, the mountain closes on April 12th, or Easter Sunday.)

Intrawest needs lots of time to get started on mountain improvements. They have a list of things to finish from last year and plenty more to start this year.

Some of the plans/rumors going around--in order from the most likely to the most ridiculous-- are (and no, they won't all happen this year if they even happen at all):

• Widen Main Drag and Boulevard. They need to blast away a few boulders to make this a wider, gentler, green connector trail.
• Install a roundabout at the intersection of Mt. Werner Blvd and Apres Ski Way.
• Create a pedestrian promenade with Burgess Creek flowing beside it to connect One Steamboat Place with Ski Time Square.
• Take the Thunderhead lift and use it to replace Elkhead.
• Replace Thunderhead with a six-pack to match the Christie Peak capacity. Right now, it can get bottlenecked at Thunderhead if the gondola is down.
• Possible gondola from Thunderhead to Storm Peak--more ski-in, ski-out development potential.