What to consider when looking at purchasing a condominium

Many first-timers come to us dreaming of their idea of the perfect mountain property: A little cabin by the river on a parcel of land – for a low price, of course. While properties like that are sometimes available, they are not always easy to come by and not always cheap. However, the mountain lifestyle buyers seek can be achieved in other ways, and condominiums are one great option. 

To determine if a condo is right for you, consider these factors. 

• Affordability. Condos often allow you to live in a prime neighborhood at a lower cost. 
• Amenities. Many condos have attractive features like community pools, spas and fitness centers.
• Low-maintenance. Especially if you are considering a mountain area like Steamboat Springs for a vacation home, it can be nice to know that someone else will handle common area and building maintenance in your absence.
• Security. Some condos offer added security measures, such as keyed entry and security guards.
• Lifestyle. Many condos are located near prime dining and entertainment options, as well as ski resort or hiking/biking trail access. So, while the property’s outdoor space might be limited, its location can give you easy access to the outdoor lifestyle you seek.
• Additional fees. As you consider the overall cost of purchasing a condo, remember to factor in the cost of HOA fees and other monthly expenses. 
• Regulations. Before purchasing a condo, be sure you fully understand the property’s rules and regulations. Some places prohibit pets or grills, for example.
• Resale value. Discuss the potential resale value of the condo with your realtor. Value can vary greatly depending on a variety of factors, including the current market, neighborhood and more.

To learn more about the condominium properties available in the Steamboat Springs area, or listing your condo for sale, contact us. We will put our nearly 30 years of experience to work for you. 

Identifying your must-haves vs. your nice-to-haves

As you begin the house-hunting process, it is helpful to have a clear idea of what you’re looking for in your new home. Take some time to create a list of items you must have in a new property, as well as additional items that would be nice to have.

As you look at homes, your list might change due to budget constraints, what is available on the market – or you might simply change your mind about what is most important to you. Use this checklist to get started. Try to keep your “must have” list small – about five items or so – because too large a list will greatly limit the number of properties that will fit the bill. Everything else can be added to your nice-to-have list.

What to consider when searching for your ideal home:

Size

·         How many square feet do you want/need?

·         How many bedrooms and bathrooms?

·         How large of a yard do you want? (Consider your lifestyle as well as upkeep)

·         Do you need space for your pets, both indoors and out?

Location

·         Do you prefer to be close to neighbors or more secluded?

·         Do you want to be in a family-oriented community?

·         Consider the nearby schools, if you have school-aged children

·         Is access to public transportation important?

·         Do you want to be close to activities like hiking, neighborhood pools, community centers?

Style

·         One story? Two-story? Walk-out basement?

·         Traditional, modern or something in-between?

·         Are you willing to do renovations, or do you want move-in ready?

·         What age of home meets both your style and maintenance preferences?

Features

·         Do you want land, or would a condo with on-site amenities fit your lifestyle best?

·         Do you want a fireplace? Pool? Big windows for a lot of light?

·         What about storage space and on-site laundry?

·         Hardwood floors or soft carpet? (Keep in mind that you can redecorate if these preferred items are missing)

·         Do you want a patio or deck? A place with a mountain or river view?

Other

·         Think carefully about your own lifestyle. If you are an avid mountain biker with three dogs, you will need a different type of home than someone with no pets who prefers to stay indoors.

·         Talk to your real estate agent about your list. He or she can point out additional items that you might not have considered and can help you identify which items are achievable on your budget and in your market.

Remember that it can be worthwhile to view properties that don’t match your checklist perfectly. Many homes can be remodeled to fit your needs, or you might find that the benefits of a property – such as a great view or an ideal neighborhood – far outweigh the features it might lack.

When you are ready to begin shopping for your perfect home in Steamboat Springs, contact us. We would be happy to introduce you to some beautiful neighborhoods and great properties in this area. 

Show off your home’s assets with these simple steps

You don’t always need to invest a lot of time or money to get your home ready for sale. Sometimes, a few simple fixes are all it takes to show your home’s potential and beauty to buyers. Start with these tips for staging your home:

·         Improve the curb appeal. As potential buyers walk up to your home, you want them to have a great impression immediately. Keep the grass cut, trees trimmed and walkways shoveled. Add containers of flowers or other simple decorations as a finishing touch.

·         Polish and clean. Walk around your home’s exterior and interior and try to see them from a stranger’s perspective. Clean and tidy anything that is looking a little worn or shabby, such as dull doorknobs, grimy light fixtures or dusty baseboards.

·         Freshen up. Over the years, you have become accustomed to your home’s distinct aroma, but visitors will notice any unpleasant odors right away. When you are selling your home, it’s a good time to have carpets and drapes cleaned. Open the windows to allow fresh air in and move any pet bedding or litter boxes out of main areas.

·         Let it in the light. Wash windows to allow the maximum amount of light to pour in. Add brighter lightbulbs to lamps and fixtures to wake up dark areas in the home.

·         Less is more. Now is the time to pack away your collections and personal items. A few key pieces of furniture and some simple accessories help a buyer see the potential in each room without being distracted by stacks of magazines or shelves of figurines.

Do you want to sell your Steamboat Springs home quickly? Contact us to learn more about our real estate expertise in this market. 

Visit these great places to enjoy Steamboat in all its glory this fall

Strawberry Park Hot Springs
As cooler weather settles in, these steamy hot springs beckon. Soothe your body and soul as you soak in the natural mineral springs and enjoy the peaceful, wooded setting. The springs are open all year, and children and teens are welcome during daylight hours (18+ welcome after sunset and throughout the evening).

Yampa River Botanic Park
Open dawn to dusk until the end of October, this park is a peaceful retreat for plant and nature lovers. With free admission, you are invited to come back as often as you’d like.

Tread of Pioneers Museum
Learn more about the history of Steamboat Springs at the newly expanded Tread of Pioneers Museum. From agriculture to skiing to Native American history, the museum offers visitors and locals alike a step back in time.

Rotary Park Boardwalk and Yampa Core Trail
The Rotary Park Boardwalk offers a handicap-accessible raised loop of trails perfect for an afternoon outside along the river and in Steamboat’s wetland area. The boardwalk is part of a larger trail system called the Yampa Core Trail, which offers seven miles of trail along the Yampa River and through town, complete with stunning mountain views.

Haymaker Golf Course
A perfect combination of golf and stunning views of Yampa Valley, this public golf course is a must-see. The “championship-caliber” course was designed by Keith Foster and offers both a user-friendly, but challenging, experience to golfers of all levels.

These are just a few of the many reasons we love our home in Steamboat Springs, Colorado. If you are thinking about making our beautiful town your home as well, contact us. We’d love to show you around. 

Why residents and vacationers alike love Steamboat

1. Beautiful setting. If you have spent any time at all in the Rocky Mountains, you know how the towering 14ers, stunning wildlife and babbling streams and rivers can take your breath away. There's nothing quite like waking up to fresh mountain air. When you live here, it feels like a getaway every day. 

2. Outdoor lifestyle. Of course, people know Steamboat Springs for our ski resort, and for good reason. It's one of the best anywhere, and skiers and boarders alike will be in heaven here. If you haven't experienced Steamboat in the summer, however, you are in for a treat. Hiking trails, fly fishing, kayaking and more will keep you active all year round, and our mild climate with average summer highs of 82 degrees mean you can be outside as often as you want to be.

3. Relaxed charm. With an in-town population of 13,000 people, Steamboat Springs maintains its small-town feel. In town or in the surrounding areas, you will feel the friendly and welcoming vibe that keeps people coming back year after year.

4. Dining. Steamboat has experienced what Zagat called a "restaurant renaissance" in the past few years that will appeal to foodies and beer and wine lovers. Living in a mountain town does not mean you have to be cut off from the finer things in life, and our amazing restaurants are proof. 

5. Arts and culture. From the 112-year-old performing arts school and camp to concert series and the dozens of art galleries, cultural and creative opportunities abound in Steamboat Springs. There is always something to do here. 

To learn more about living and working in Steamboat Springs, contact us. We can help you find your perfect Steamboat home. 

Be prepared; stand out from other buyers

When demand is higher than inventory, you can often feel frustrated as a buyer. You might be competing with several other offers, or your dream home might be snatched up before you can even submit an offer. As you prepare to start your house search, take these steps to help ensure that you can close the deal on your desired property before the competition.

• Get prequalified. If you have a prequalification letter from a lender, it makes your offer more attractive to the seller and seller’s agent.
• Be flexible with your time. In a tight market, you need to be able to view homes as soon as possible. If your agent calls with a new listing, make an effort to see it that day, if you can.
• Keep tabs on listings. Your real estate agent is working hard finding your dream home, but it can often help if you also look at new listings on your own. If you see something you’d like to see, call your agent right away.
•  Look for “for sale” signs in your target area. Online listings are often posted a day or two after a sign goes up outside a property. You can sometimes view the property before other buyers if you catch those signs early.
•  Act quickly. Buying a home is a big commitment, but a competitive market often doesn’t allow for the luxury of time to weigh the decision. If you know ahead of time what you want and what you’re willing to pay, it’s easier to make a quick decision about submitting an offer.
• Bid strategically. Your real estate agent can offer good advice about how to bid to compete with other potential buyers, but not blow your budget.
•  Eliminate barriers. Any barriers that might delay closing could make you less attractive to sellers, including the need to sell your current home before purchasing a new one. Consider trying to sell before you start your house hunt, or think about placing renting out your current property. Your real estate agent can walk you through your options.

A competitive market can add some stress to the home-buying process, but with an experienced real estate agent’s help and a little patience, it is still possible to find the right home for you. Contact us today to learn more about buying your dream home in Steamboat Springs.

Ten things to do before you start house hunting

1. Set a target price range before you start looking. A good rule of thumb is to look for homes valued at two or three times your annual income.
2. Understand the costs of home ownership. Buying a home is a financial commitment that goes beyond the mortgage payment. Research average costs for insurance, property taxes, maintenance and any HOA fees.
3.  Explore your loan options. Determine how large of a mortgage you qualify for and get prequalified with a lender, if you can.
4. Review your finances and savings. Do you have enough money for the required down payment and closing costs?
5. Find out if you qualify for any down payment assistance programs or special mortgage programs. Veterans and first-time buyers, for example, may qualify for special programs.
6. Know your credit history. Obtain a copy of your credit report to be sure there are no potential issues.
7. Identify your target neighborhoods. Choose an area that fits your budget and lifestyle. Keep in mind schools, parks, recreation and other features that matter most to you.
8. Create a wish list for your dream home. Do you need four bedrooms? Is a view important? Do you want to be on one level? Make a comprehensive list, but prioritize the items that are truly must-haves.
9. Keep an open mind. While you might have your heart set on a specific neighborhood or style of home, your ideal home might not fit that original vision. Work with your realtor to discuss your options and your budget.
10. Work with an experienced real estate team. A real estate pro who knows your target area is an invaluable resource. He or she knows the market, and hidden gems, and can walk you through all the steps of the home-buying process.

If you are looking for a home in Steamboat Springs, Colorado, contact us with your questions. We know and love this beautiful area, and we are dedicated to helping our clients find the right fit for their needs. 

See here for December data:

DECEMBER 2014 and YTD 

December ended 2014 on a great note with $58.17M in Gross Sales and 121 transactions!  Compared to last December, Gross Volume was up by +69.29% while transactions were up 10%.

The December numbers helped end the year with just under $600M in Gross Sales and 1,360 transactions for 2014.  That is the best Gross Volume total in Routt County since 2008!  Compared to 2013, that equates to +18.79% in Gross Volume and +6.42% in number of transactions.  

Snapshot values closed the year strong compared to 2013:

Average Sales Prices:

• Single Family +10%
• Multi Family +11%
• Vacant Land +2%

Median Sales Prices:

• Single Family +15%
• Multi Family +9%
• Vacant Land +20%

PPSF/PPAC:

• Single Family +15%
• Multi Family +6%
• Vacant +25%

There were 3 Bank sales in December compared to 5 in October.

There were a total of 126 DOT recordings; with 47% of Sales Transactions having financing at the time of sale - and 53% closing with Cash.   

SOURCE: Land Title Steamboat Springs

 For the full report of stats, click here:

NOVEMBER 2014

November was a decent month with $41.4M in Gross Sales and 106 transactions.  While this is down from the last few months, it is good for this time of year.

Compared to last November, Gross Volume was up by +25.3% (with the YTD. comparison at +15.09%), while transactions were slightly down -0.93% compared to last November, with the YTD. comparison at +6.08%.

 Snapshot values compared to last year are still looking strong:

 Average Sales Prices:

• Single Family +9%
• Multi Family +10%
• Vacant Land -9%

Median Sales Prices:

• Single Family +14%
• Multi Family +9%
• Vacant Land +15%

PPSF/PPAC:

• Single Family +16%
• Multi Family +4%
• Vacant +28%

There were 5 Bank sales in November compared to 3 in October.There were a total of 108 DOT recordings; with 46% of Sales Transactions having financing at the time of sale - and 54% closing with Cash.

 Source: Land Title