Steamboat Real Estate Two Weeks in Review: Feb 16-Mar 1, 2009
In the past two weeks, 8 Routt County properties have sold and 11 went under contract. The $3,293,500 in Steamboat real estate that did sell was mostly “small stuff” like Grand fractionals, Hayden airport garages, and several single family homes in Craig and Hayden.
The current lending environment may have something to do with why we aren’t seeing more Steamboat high-end luxury real estate selling. Even though Fannie Mae raised the conforming loan amount to $675,000 in Routt County, lenders are still wary of making loans above $417,000.
For non-conforming jumbo mortgages above $675,000, money is even hard to come by. Even if you have great credit, money in the bank, and a low loan-to-value ratio, you will still pay a rate premium of at least 1.5%–IF you can get a loan.
Condos are another story. Even though Steamboat does not have vast wastelands of vacant condos, the Steamboat real estate condo market is lumped together with the national condo market that is full of foreclosures and bankruptcies. Townhomes are easier to finance.
We are seeing more FHA and owner financing in Routt County. FHA will finance up to $675,000 with only 3.5% down.
Cash, of course, is still king.
If you would like to talk about the Steamboat real estate market or schedule a time to look at properties, please call (970) 819-6372.
Here are the Routt County properties that have sold and gone under contract in the last two weeks:
Steamboat Real Estate Two Week Review: Feb 16-March 1, 2009
|
Steamboat RESIDENTIAL real estate- Solds |
| ADDRESS | BR | List price | Sold price |
| Steamboat Grand Fractional
Mt. Werner Circle, PH704, IIIB |
Five | $180,000 | $160,000 |
| Steamboat Mountain Condo
Meadowlark Condos Village Drive |
Two | $229,000 | $215,000 |
| Hayden, CO single family
Harvest Drive |
Three | $290,000 | $285,000 |
| Hayden, CO single family
E. Crandall Ave |
Four | $380,000 | $365,000 |
| Downtown steamboat single family
4th Street |
Two Plus | $749,000 | $725,000 |
| Downtown Steamboat Single Family
Broad Street |
Four | $1,265,000 | $1,200,000 |
| Total Listings | Avg | Avg | |
| 7 | $450,785 | $429,785 |
|
Steamboat RESIDENTIAL real estate- Pending |
| ADDRESS | BR | LP | $/Tot Sq Ft |
| Craig CO Single Family
CR 33 |
Three | $162,500 | $133.63 |
| Craig, CO Single Family
Breeze St. |
Three Plus | $178,000 | $91.38 |
| Fish Creek Area Duplex
Cherry Drive |
Three | $359,900 | $256.34 |
| Hayden, CO Single Family
RCR 52 |
Five | $450,000 | $169.30 |
| Steamboat II
NORTHSTAR PL |
Three | $489,000 | $276.12 |
| South Valley, Fox Estates
McKinnis Creek Rd |
Three | $515,000 | $361.66 |
| Steamboat Mountain Area Duplex
Snowflake Circle |
Four Plus | $1,099,000 | $354.06 |
| Stagecoach Single Family
Stagestop Trail |
Four | $1,300,000 | $283.60 |
| Total Listings | Avg | Avg | |
| 8 | $569,175 | $240 |
Steamboat Land Report
|
Steamboat Springs Vacant LAND – Sold |
| Ask Price | Acres # | Area/Address | List Price | Sold Price |
| $299,000 | 0.31 | Fish Creek Area
Sandhill Circle |
$299,000 | $285,000 |
| Avg | Avg | |||
| $299,000 | $285,000 |
|
Steamboat Springs Vacant LAND – Pending |
| Ask Price | Acres # | Area/ Address | List Price |
| $550,000 | 37.00 | South Valley Land
RCR 43 |
$550,000 |
| $1,600,000 | 120.00 | South Valley Land
RCR 43 |
$1,600,000 |
| Avg | |||
| $1,075,000 |
Steamboat Commercial Real Estate
|
Steamboat Springs COMMERCIAL real estate- Pending |
| ADDRESS | LP |
| Hayden Airport Garages
RCR 51A, Hayden CO |
$24,900 |
| Total Listings | Avg |
| 1 | $24,900 |
Posted: March 2nd, 2009 under Market Reports.
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