Steamboat Real Estate Home Search and Blog

As billionaire oilman J. Paul Getty once said: “Buy when everyone else is selling and hold until everyone else is buying.”

J. Paul Getty would be buying Steamboat real estate like crazy right now.

If you are thinking of buying, these are time-tested ways to come out ahead at the end of this real estate slowdown:

Timing is Everything. Get into the market cycle early.  Don’t buy when the media headlines say “Record Levels of Appreciation”.  Be a contrarian and buy when the media headlines say…well, when they say exactly what they’ve been saying for months.

Don’t Spend Your Last Dime on Real Estate: Consider your holding costs, HOAs and cash flow potential, especially if your Steamboat place is not rented or is taking longer to sell than you expected.  Consider short term rentals and long term rentals.  Have enough cash to ride out this market cycle.

Buy it and Hold it. Time is an investor’s best friend for real estate appreciation.  Who knows what will happen in the short term?  If you buy and hold, the fundamentals are solid in Steamboat to see healthy appreciation rates.   Steamboat has added so many good things over the past few years–

• improvements at the ski mountain,
• a new Community Center,
• an incredible new library,
• new schools including Soda Creek Elementary which was completely rebuilt and additions to Strawberry Park elementary and the Middle School,
• brand-new pools at the Steamboat Springs Health and Rec hot spring pools,
• and a future brand-new base area.

Find the Best Deals-they ARE out there.  Whether you are looking at new construction or entry-level condo, there are motivated sellers.  Call me for specifics.

Plan to Sell Before you Buy. If you are buying Steamboat real estate for investment purposes, think about the exit plan.  Think resale and buy properties that will appeal to the most buyers when you go to sell.  Think about doing a 1031 exchange and keep detailed records of rentals and your owner usage.

If you would like information about buying or selling real estate in Steamboat Springs, North Routt, Hayden, Stagecoach, Oak Creek, or Clark, please contact Eliese Pivarnik at (970) 819-6372 or eliese@SteamboatHomeSales.com.