Steamboat Springs, CO Real Estate and Community Blog

Steamboat Springs Real Estate Week in Review:
Last week, 4 Steamboat Springs area properties closed and 7 went under contract.
If you would like more information or are interested in buying or selling Steamboat Springs real estate, contact me.
Here are the details:

Second home sales made up 33% of all real estate sales in 2007, says the National Association of Realtors.
Here’s why people buy Steamboat Springs, Colorado vacation homes:

84% of buyers of Steamboat real estate want to use it for vacations and family retreats.
30% of buyers of Steamboat real estate want a primary residence in the […]

Last year when prices were rising 5% a month, we had more buyers lined up than there were properties available. People thought nothing of upping their offers by 5-15% or more over the asking price just to get a property.
People were clamoring to get overpriced listings. Now that prices have stabilized or (in some […]

Information is from the Sun Valley-Ketchum Chamber and Visitors Bureau and Idaho Mountain Express

Some people who purchase Steamboat Springs investment real estate want to manage the property themselves. They like the idea of using websites such as vrbo.com to schedule renters, and some folks even create websites they use to rent their investment property themselves.
The reason investors choose to self-manage is their desire to save the 40%-45% […]

Condotels are a form of ownership invented by Intrawest as a way for ski companies to provide enough beds for visiting guests without owning a lot of real estate.
Basically, a condotel is a condominium where they allow nightly rentals. There is usually a front desk person to hand out keys and provide a […]

The USA Today had an article/book review today on “Get Rich, Stay Rich, Pass it On…“.
Here is an exerpt:
“On average, 23%-29% of your wealth should be allocated to real estate. Here’s how it breaks down:

11-13% of your real estate investments should be equity in your principal home
3-6% should be income-producing property
5-7% a second home
3-5% […]

How to Maximize the Rental Income of your Steamboat Springs Ski Condo
Many people who buy Steamboat Springs vacation homes want to rent their place to help cover expenses. Here are tips to help get the most rental income out of your investment property.
· Buy on the mountain. People coming to Steamboat to ski want to […]

If you bought real estate on the mountain before January 1, 2007, it is likely that your property has appreciated 40% in only six months. Mountain condominiums especially have seen this mind-boggling appreciation.
Why are prices so high?
Several reasons account for the dramatic increase:

Intrawest announced they were buying the ski mountain late December, 2006
The Base […]