A place where Big Storms are a bad thing, so different from Steamboat

It is interesting to be in a place where people don't look forward to big storms. In Steamboat we spend all year wishing for a huge snow year, 4 ft of new snow overnight and talk about the big years past like they were a hot girlfriend but in Florida a hurricane is a bad thing. Interested to see it but hope for people that live here that it mellows out.

For more click back to the Steamboat Springs blog main page.

Snow forecast for the rest of the week in Steamboat

It looks like the Steamboat ski area started making snow at the right time. The paper this morning said they were able to lay down 5-6ft piles Sunday night. I checked them out yesterday when I was up looking at the new promenade we are building at the base area. See below for the Steamboat weather forecast this week. A week or so ago there was over 3 feet up on Buffalo Pass where I backcountry ski and more fell over the weekend that I didn't get to check out.

From the Steamboat Pilot "Jim Daniels, a forecaster with the National Weather Service’s Grand Junction office, said a potential for heavy snow this week, coupled with a cold blast, will keep snow on the ground and temperatures low enough to continue snowmaking operations.

Forecasters predict at least some chance of snow from Tuesday night through Friday, with a 70 percent chance of snow Tuesday night and Wednesday. “I think you’ll see several inches there in town, and we’re expecting some more at higher elevations,” Daniels said.

Allen said snowstorms sometimes can raise temperatures in the area, putting snowmaking on hold, but because of a double-blast of cold air coming through this week, Daniels said that likely would not happen. “It’s looking like a pretty good storm coming in there, especially for this time of year,” he said.

The area is under a hazardous weather outlook for the rest of the week, with dangerous driving conditions possible later in the week, especially on Rabbit Ears Pass."

For more click back to the Steamboat Springs blog main page.

First night of Snowmaking in Steamboat!

I walked outside this morning and there was a fog over portions of the lower mountain along with the tell tale sound that snowmaking had begun for the 2009/2010 Ski Season here in Steamboat. Fall is incredible here in Steamboat and one of my favorite times of the year here so I never want it to end but at the same time I can't help myself and dream of skiing with any sign that it is coming soon. I hope that you can join us this year, it has been a cool snowy fall and if this keeps up it could be a great winter.

For more click back to the Steamboat Springs blog main page.

4 weeks until the 2009/2010 Ski Season Begins in Steamboat Springs

I don't know about you but my dreams and day dreams are now filled with powder days and fast cruisers on the mountain not to mention deep backcountry ski days up on Buffalo Pass. Some new gear has somehow found it's way into my collection and I am considering new skis for me and my wife. I will also take the kids in this week for their season rentals. They talk everyday about skiing with daddy on the big mountain and I can't wait to get out with them. Are you ready yet?

For more click back to the Steamboat Springs blog main page.

30 Inches of Snow on Buffalo Pass plus 9 more last night!

It's been a wet and cool fall and we got the most precipitation since May 9th in town. That's saying something since we had some serious rain in May and June this year. I'm very excited to see so much snow on Buffalo Pass so early. Hopefully this means Buff Pass will be ready before the ski mountain opens at Thanksgiving. Another great season would be outstanding, a normal season will be great too.

From the Steamboat Pilot “We expect El Niño to strengthen and persist through the winter months, providing clues as to what the weather will be like during the period,” Halpert said. “Warmer ocean water in the equatorial Pacific shifts the patterns of tropical rainfall that in turn change the strength and position of the jet stream and storms over the Pacific Ocean and the U.S.” Steamboat Powderhounds know Mount Werner is prone to getting day after day of snow when the jet stream settles over the Yampa Valley on a northwest flow.

One might not guess it to look at the modest snow cover on Storm Peak, but the snow depth is building just north on Buffalo Pass to as deep as 30 inches, in the estimation of one local expert. Chris Diamond, Steamboat Ski and Resort Corp. president, observed during a public speaking engagement this fall that the last El Niño year resulted in more than 400 inches of snow. That year, 2005-06, weather patterns dumped 432 inches of snow at the midway point on Mount Werner."

For more click back to the Steamboat Springs blog main page or check out the One Steamboat Place blog for info on one of the best ski ski out condos in Steamboat Springs.

Steamboat 700

Here is a letter to the editor I just submitted. I have struggled with whether to support this since the beginning as I explain below. That is not the normal path for me. To be honest I never expected to support Steamboat 700 even though I thought along that they would get to the point of meeting the WSSAP's objectives.

Start of my letter:
Your article supporting Steamboat 700 is very well thought out and your points are well taken. For the record I never thought I would support Steamboat 700 because I was worried that it was too big and nervous about adding too much at once. The more I have dug into the issue and thought about how things will develop with or without Steamboat 700 I can't get around the fact that this is the only way to add the infrastructure we need for the growth that is coming. It will happen much further from town with no contribution if we don't allow Steamboat 700. I'd rather take some risk than face the nearly certain consequences of inaction. This is the first time I have supported Steamboat 700 in public or private. Just like everyone else I am very concerned about anything that could change Steamboat. Yes, I am an active real estate broker but I see Steamboat's livability and charm as the most important reason that my family is here along with those of my clients.

I believe that it is critical to make it possible for all of our friends along with people like teachers and nurses to become long term members of the community they make possible. They have earned this and will continue to do so. It shouldn't be too easy or doable on a whim but it should be possible for those that have dedicated themselves to living here and make our community special. I am nearly certain it is likely to reduce my own property values in town by having additional supply close by so this is not an economic judgement. For me it comes down to just a few things.

1 - Steamboat 700 is as close to the WSSAP as we are likely to get. Despite his ads to the contrary Kevin Bennett created this plan along with the water agreement that benefits that land. His signature is on the document. We asked for this and they have done a remarkably good job delivering it. Yes it would be wonderful to get more for "free" that is not really free but we don't live in a candy store where everything costs 5 cents.

2- We live in a beautiful, special, extraordinary place that is so compelling we have all worked much harder and made significant comprises to be here. This passion is one of the things that makes Steamboat even better. That is nothing new, most of us can only imagine how hard it was for Steamboat's founding families to make a life here especially in the winter. Great people like John Fetcher could have lived anywhere but they chose to live here and worked hard to make it special.

These compromises couldn't be more worth it and others will continue to be willing to make the same choices. I meet these people every week in my business and understand it well. My wife Wendy & I made this choice and couldn't be happier that we did. We need to do anything we can to protect what is great about Steamboat using plans that will actually be effective. I haven't been able to think of a way that not doing this development will actually achieve this goal. The Pilot is right to say it will only push people out further in the county, increase commuting, pollution and get nothing from that growth to help pay for the increased demands on our community's roads, schools and other infrastructure. If demand does not materialize there is no way it will get built so approving it does not put us at risk.

3- The biggest reason for me is precedent, there is not a lot of question what will happen if you look at Aspen and Vail. They have have not planned close in for the growth that has come and will continue to come. We have friends in both places and it is considered normal for people to commute from 30-60 minutes into town to work and play. They both have a slew of problems and a weaker community because of this. Housing in town is nearly unattainable and families have less time together as a result. I have played endless scenarios in my head and can't think of a way that we will be different if we take the same path.

I want a community that is together all day, remains a special place and has the resources to pay for the long term growth that will come either way. Those of us who were not born in Steamboat were lucky to be accepted by this wonderful community. We should be grateful for that and also take responsibility for keeping it a special place. That doesn't mean we should close the pass behind us. That is purely fantasy and will be the fastest path to pushing us and our neighbors out of town just like has happened in Aspen / Vail. This is a very tough decision but is has been studied and negotiated by our fellow citizens / representatives with tons of public input. I now have arrived to the same conclusion and trust them to implement this deal. I know it will not be perfect, nothing is but it will clearly be far better than the alternative.

Best,

Jon Wade

It's Offical, Colorado's Ski Season Opens today Wednesday Oct 7th

Loveland opens today, A- Basin Friday. It has felt like an early winter was in the cards for a while and now we have proof. The top of the Steamboat Ski area looks almost skiable too.

For more click back to the Steamboat Springs blog main page.

Even a cold, wet, snowy day in Steamboat beats any day pretty much anywhere else

Said perfectly by a friend who is town from Houston who works and of course plays in Steamboat as much as possible. I have always felt the same way so I couldn't agree more. Is there a way for you to work and play more in Steamboat? Do you need to be in the office everyday or can you spend more time here in Steamboat by telecommuting?

I know a large number of busy successful people that work early on Eastern time, get out and ski, bike or fish then work some more in the afternoon. Most say that they get more done and come up with great ideas while they are out playing. It works that way for me so why not see for yourself? For more click back to the Steamboat Springs blog main page.

Farmers Almanac predicts a great snow year in the Rockies!

Farmers Almanac has come out with their predictions for this winter it is looks like Steamboat has a good shot at another great snow year, they call it phenomenal which is sure to have me dreaming of deep powder for the next few months. I would do that anyways but this will make them better. Its been snowing here since early evening so I will take that as a good sign.

Where to Hit the Slopes in 2009-10
The Farmers’ Almanac’s famous long-range weather forecast for the coming winter is calling for an ice cold sandwich,” but what does that mean for skiers?

This year’s forecast indicates that central parts of North America, including the Great Lakes, Plains, and Rocky Mountains, will be cold and snowy, while coastal regions will see milder weather. While that’s great news for skiers who enjoy the rugged, mile-high peaks of the Rocky Mountains, East Coast skiers may be in for a less than stellar year.

All signs indicate an early start to the season in the Rockies. As usual, Colorado will be king. With 54 peaks above 14,000 feet, and an annual average of about 300 inches of snow, resorts in this skier’s Mecca should get more than enough powder this winter for a phenomenal season.

Look for a thick blanket of snow, accompanied by bitterly cold temperatures, to fall throughout December, with frequent storms dropping more of the white stuff through early spring, in Colorado, Montana, Wyoming, and Idaho, and Alberta, Canada."

The forecast isn't as good in the East so start making your plans to come out and help us stabilize the snow here in Steamboat. For more click back to the Steamboat Springs blog main page.

Snow predicted tonight in the Northern Mountains

I can't help but day dream a little myself, how about you? News 4 predicts 6 to 16 inches ... I say not this time but it could happen. This is the week we always get snow so it wouldn't be a surprise but don't worry we usually have at least another month of great weather before winter starts preparing for opening day here in Steamboat.

Update: the storm never materialized but winter will be here in about a month

Fox Stealing Golf Balls in Steamboat Springs

A local Fox might think he is bringing home some nice eggs to his kits. He means well but I don't think that they will be hatching anytime soon. For more click back to the Steamboat Springs blog main page.

Skiing ranks Steamboat #1 in Trees and #2 in Snow behind Alta!

No question there for me but the one key ranking they miss is an easy number 1 for the great people that live and visit here. Steamboat has easily the nicest people not to mention a genuine town that can't be copied from somewhere else like so many other ski towns have been. What do you think?

My advice? Get in a great fall, your gear in order, in shape to burn a lot of great tree runs and your friends in Steamboat will look forward to seeing you a few times this winter. For more click back to the Steamboat Springs blog main page.

Snow on Trail Ridge Road Last Night

Not this much snow any only a few days in the past instead of decades but I thought this was a fun picture to share. Fall is definitely in the air. It's time to get in all the things you meant to this summer, enjoy a great fall and start to think about winter if you aren't already.

For more click back to the Steamboat Springs blog main page.

Current Market thoughts for Steamboat and Beyond

Sometimes, when things are in flux we all need to remember a few simple thoughts. Here are some quotes, ideas and axioms that you will need to remember to get you through these economic times safely and profitably.

$19 trillion--The value of our country's real estate in 2008. In 1999, the value was $10 trillion, increasing to a whopping $22 trillion in 2006. The total amount of real estate doubled in seven years! It would seem that we really shouldn't complain.

Warren Buffett is the world's richest man---and the most successful investor in history. Here's Buffett's advice: Realize that markets always come back---they did after the Bear market in 1974, after the stock market crash of 1987, after the dot.com bust in 1990, and he bought in the 'down markets' everytime. Bad news is an investor's best friend. He is buying now!

"Where there is change, there is opportunity".

"Real Sellers....attract Real Buyers". Sell ahead of the market, don't follow it all the way down.

"You make money on the buy, not the sell. If you're a seller, get what you can for your property now and buy the 'best buys' to make your profit."

Focus on the above Axioms and adjust your sail in the middle of a storm. This is when fortunes are made and goals are met for those that are ready.

For information on specific residencies in Steamboat check out Steamboat Homes

For more click back to the Steamboat Springs blog main page.

Fall is on it's way to Steamboat

It's that time of year when the cool evenings, nights around freezing and now the start of fall colors tells us to kick things into gear and get out to get our fill of summer sports. Don't worry, even thought it normally snows in September we still have nearly 2 months of great weather left. In fact from the last couple weeks of August until mid to late October is my favorite time of the year if you exclude powder days of a foot or more that is. It has really felt like fall but Saturday was one of the few days over 90 this summer in Steamboat that I can recall and a nearly perfect day to be a the lake and then on the bike. This picture was taken on the Hot Springs trail.

For more click back to the Steamboat Springs, CO blog main page.

My Steamboat Princess

A couple pictures of Neve my Steamboat Princess. She is fully qualified as a princess but fortunately for me is just as much of a tom boy that isn't afraid of getting dirty or much else for that matter.

For more click back to the Steamboat Springs blog main page.

My Steamboat Cowboy

While I would prefer to use an action shot this one was too cute not to share. To purists he may not be an authentic cowboy yet but that is only because he hasn't decided what he wants to be. Until then he can dream. The rest of us should be more like him.

For more click back to the Steamboat Springs blog main page.

Snow Last Night on Lost Ranger Peak

There was a dusting of snow last night on Lost Ranger Peak in the Zirkel Wilderness area just north of Steamboat Springs. Fall has been in the air for 2-3 weeks and very much so the last 4-5 days with cold nights and cooler days. Winter is coming so it is time to get in all of the things you planned to do this summer, get ready for the leaves to change and start planning for winter in my favorite town.

For more click back to the Steamboat Springs blog main page.

Steamboat Springs Parade of Homes - Free tickets

I have 5 free tickets to the Steamboat Springs Parade of Homes this Saturday 10-4pm if anyone would like them. Just give me a call at 970-819-6930. There are some great homes on the tour.

For more click back to the Steamboat Springs blog main page.

June New Home Sales Rise 11% Nationally

More encouraging news that our national market is beginning to recover.

June new home sales rise 11 percent AP

By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer – 32 mins ago

WASHINGTON – New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.

The Commerce Department said Monday that sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000.

It was the strongest sales pace since November 2008 and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 360,000 units. The last time sales rose so dramatically was in December 2000.

Sales have risen for three straight months. The median sales price of $206,200, however, was down 12 percent from $234,300 a year earlier and down nearly 6 percent from $219,000 in May.

The report is another encouraging sign that the beleaguered housing sector is finally coming back to life. Last Thursday, the National Association of Realtors reported that home resales posted a monthly increase of 3.6 percent in June.

There were 281,000 new homes for sale at the end of June, down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007.

For more click back to the Steamboat Springs blog main page.

Colorado’s Best Mountain Community for Families: Steamboat Springs

The Mountain Mammas blog posted a piece titled Tour de Colorado’s Best Mountain Community for Families: Steamboat Springs. It's nice to see that she liked Steamboat despite plenty of drama from her kids and a case of the keys left in their running car.

No surprise to anyone who knows Steamboat. What is she doesn't get is that her car wouldn't be anymore likely to be stolen had it been left unlocked while running. We are fortunate to live in a very special place populated & visited by wonderful people.

For more click back to the Steamboat Springs blog main page.

Options for continuing base area upgrades recieve a warm welcome from City Council

I am fortunate to be a part of the Urban Renewal Authority Advisory Committee that manages the funds for improvements at the base of the Steamboat Ski Area. We have laid the foundation for significant improvements to the base area and have had several breakthroughs in working through the designs and agreements necessary for construction of a new promenade linking the inside of the base area together.

To do this we need a second larger bond issue which has become more difficult to get and less comfortable given the current uncertain national market and uncertain city revenues. It looked like we would not be able to proceed and several naysayers asked why we even bothered to continue to meet. The answer was because we all care deeply about Steamboat and understand the importance of improvements to our base area. As business people it just wasn't in our nature to give up without looking at more options.

Several people on the team including myself suggested we see if there was a way to do this responsibly for the city. David Nagel stepped up to lead the effort and organize the team. With a lot of work in a short time we were able to put together a detailed analysis of how this could be structured to reduce risk on the original bonds and leave a comfortable margin on the new bonds given new properties that will be finished soon. It looks like we can proceed with minimal risk. City Staff and now Council agreed and we hope to have a final decision soon.

This is good for Steamboat now and sends a strong message about where we are going. I will look forward to seeing the council make a well considered choice from this group's recommendations on May 5th once we have new assessments of the base area property values that fund URA improvements to confirm we can safely pay the bonds.

You can read the Steamboat Pilot article by clicking here. If you have any questions about this project or how it will impact the base area and property values feel free to call me at 970-819-6930 or email jon@mybrokers.com. For more click back to the Steamboat Springs blog main page.

A New Closing at Marabou Ranch, overall signs of life in Steamboat

Some encouraging news from Marabou Ranch came in the form of a closing on a lot for $2.5M. Overall lot sales are limited right now so this speaks to the quality of the experience they deliver at Marabou, the relative value you can find in Steamboat compared to places like Vail & Aspen and people's continuing desire to spend more time in Steamboat Springs. This correlates with increasing amounts of positive news on the national front and the increasing likelihood that a recovery is in progress.

I have seen a big increase in sincere near term interest the last 4-5 weeks due in part to value, availability of people's first choice and the desire to realize goals while there are some good deals to be had. Volume within my firm is up significantly and we are seeing people in town after ski season specifically to look at property which didn't happen to often last fall.

Let me know if you would like to more insight into our current market here in Steamboat Springs and if there is an opportunity for you that makes sense. Call Jon at 970-819-6930 or email jon@mybrokers.com. I hope that everyone has a great spring.

For more click back to the Steamboat Springs blog main page.

The Perfect Steamboat Ski In Ski Out House?

It feels like we have gotten this much snow recently and more is on the way. It's funny that when I am up top of Mount Werner in the trees I am ducking limbs all of the time. Even after all the warm weather we had I can't help but feel like the snowpack in the trees is similar to last year's record season based on the number or branches I am ducking under in the trees. I don't know where this house is but it definitely offers the prospect of ski in ski out access to ENDLESS un-tracked powder. I can dream can't I?

For more click back to the Steamboat Springs blog main page.

Late Spring Powder Day in Steamboat

I thought I would share a couple of shots from today. It was easily a top 5 day for me in a year with many EPIC powder days in Steamboat. This picture was taken after a few hours of skiing since we can never seem to stop when the snow is at its best. My neighbor and friend Pete is an inspiration and a role model at any age, especially at 65. I could barely keep up on continuous top to bottom tree runs and didn’t mind it a bit. Steamboat is truly a magical place. I only wish I would have had my SLR with me to truly do his skiing justice. The shot was taken a bit late, it was much better ¼ second earlier. Pete also won his age group in NASTAR Saturday then the overall National handicapped for age on Sunday. I think the fountain of youth must be in Steamboat. See the attached pictures but they don’t begin to do the conditions justice. For more click back to the Steamboat Springs blog main page.

It's Spring in Steamboat

It was a Bluebird day up on the mountain today, 60 and sunny in town and it started dumping snow about 2 hours ago ...

For more click back to the Steamboat Springs blog main page.

2009 Steamboat Triathlon

I am proud to say that our company's charitable foundation has taken over as the title sponsor of this signature event and has assumed financial responsibility for making it a success going forward. We are proud to be working with a broad group of people all around Steamboat who are volunteering their time to put together and run the event.

STEAMBOAT SPRINGS, CO — Registration is now open for the Steamboat Triathlon! On Sunday, August 30th, 2009 at 8:00 am, join 650 athletes at the edge of Lake Catamount, nestled in the Yampa Valley near the Medicine Bow & Routt National Forests, just 20 minutes outside of Steamboat Springs, Colorado. Offering a sprint distance event, the Steamboat Triathlon will take place entirely in Steamboat Springs. The swim, bike and run courses will challenge athletes among the mountains of Northern Colorado, along the pristine Yampa River.

“Great cities have great marathons and great triathlons,” said Event Director Joy Rasmussen. “Look at Boston, New York, Philadelphia and Chicago. We have our great marathon -- the Steamboat Marathon -- and the great city of Steamboat Springs welcomes participants with our signature triathlon -- the Steamboat Triathlon.” “The spectacular valley location makes this event perfect for spectators, and provides great opportunities for volunteers who want to be part of a triathlon event.”

The triathlon will be staged at Lake Catamount, where Sarvice Creek empties from the Sarvice Creek Wilderness Area. The swim will be a point to point course in Lake Catamount. The bike course will run on county roads making a turnaround in downtown. The run will be on paved roads near Lake Catamount.

The ¾ swim course will be a water start, waist deep, and you will be guided by buoys on the course. This is a wetsuit-legal race, with anticipated water temperatures from 66 to 70 degrees. The 20 mile bike course will start at Lake Catamount, in an out and back ride. There are no major hills on this beautifully scenic route, which features riding along the Yampa River, and offering spectacular looks at the mountains that grace the area. The 10 mile mark and turn around area is at historic Howelsen Hill in downtown Steamboat Springs. The 4-mile run will leave the transition area and go 2 miles, there will be a turnaround, and you will run to the finish on this out-and-back route. There will be no major hills, and it is all paved. The Steamboat Springs Triathlon is limited to just 650 entries and is sanctioned by USA Triathlon, the sport of triathlon’s national governing body.

For more click back to the Steamboat Springs blog main page.

Marabou Ranch is recognized for their leadership in Sustainable Development

It is great to see the team at Marabou getting recognition for their leadership in sustainable development. In addition to the green features and practices they have implemented I think that preserving about 1,300 acres in its historic agricultural uses and natural state is a great way to preserve what is special about Steamboat's history and character.

"Mountain Living Magazine recently named Marabou winner of the 2009 Responsible Development Award. Marabou was recognized for our commitment to smart, sustainable and beautiful design. "We are proud to accept the Sustainable Award from Mountain Living Magazine, and feel honored to have been chosen from among so many other great projects!"" - Jeff Temple, Elk River Partners.
For more click back to the Steamboat Springs blog main page.

Updated Colorado Home Price Trends compared to troubled states

Colorado remains in much better condition than most other states and far better than in the 5 key states that are driving the mortgage crisis. Volume in Denver has picked up considerably as people have become more active in buying foreclosures (lower average price than a non-distressed sale which does pull down average prices but will improve market health by reducing inventory) which I believe explains some of the dip in the graph below. I also read today that cash deals are way up which shows that the smart money is moving back into the market.

The old saying about how all real estate is local is very true. Nationwide troubles have impacted most markets but at the same time many markets are doing better than most new would lead us to believe and many of them are turning and starting to improve despite declines in the national averages. A good example of how Steamboat is different is that our foreclosure rate was 0.3% at the end of December which is dramatically lower than the 5-6% we see reported in the national news.

Colorado is the blue line in this first graph and red in the second one. The word I hear from several credible sources in Denver is stabilization and some improvement as inventory is going down. Original graph when this post was first done

The Steamboat Voice of Reason Blog had the audacity (many news sources find it more profitable to cover only the bad news) to post credible data from the Federal Reserve Bank of St. Louis showing the chart above that compares relative home price changes in California, Florida and Colorado. Colorado is the red line and it shows pretty clearly the differences between our market and the 5 states where the large majority of the housing crisis is playing out as represented by California and Florida. It is nice to see data that shows this so clearly from such a credible source. I am not saying we don't have issues in Colorado or the other 44 states but it is nice to see how individual states are doing and understand local markets better.

I follow this very closely and even I was surprised by the differences between these states and how good Colorado looks after so much one sided news coverage.

If you would like to know more, see if there are opportunities that makes sense from you in Steamboat or talk about how this affects your situation just give me a call anytime at 970-819-6930.

For more click back to the Steamboat Springs blog main page.

A Moose visits Slopeside for Steamboat's best Apres' Ski

Update: The Denver Post picked up the Steamboat Moose video story and posted the video on their site March 4th.

I thought that you might enjoy seeing the amateur video (requires a little patience) of the moose that visited Slopeside's Apres Ski Party here in Steamboat Springs in February. Large animals like Moose and Bears generally avoid public areas but have seen several on the mountain over the years. We had a mother and baby moose spend Christmas week in our yard this year, elk a week or so later, another group of moose and it is not surprising to see bears if you keep your eyes open. It's pretty cool to live in the mountains and be able to share encounters like this with our kids.

For more click back to the Steamboat Springs blog main page.

Fortunate to be part of Steamboat

I got a great email a few minutes ago from clients that have become a great friends. I feel fortunate to be a part of the community in Steamboat too and was reminded of this in a big way at the service to honor James Temple who founded the Steamboat Ski Area. A lot of incredible stories were shared, qualities were highlighted and honor paid to a great man and his incredible wife.

The best part for me was the underlying theme of how what he did has made is possible for so many people to live in and visit or incredible valley that so many feel fortunate to be a part of.

Here is Phil's quote:
What an incredibly awesome day to end our season on. Those are the days that remind me how special this place is and how fortunate we are to be a part of Steamboat. Enjoy the rest of the season.
Best regards,
Phil

Steamboat is lucky to have wonderful people like Phil, his family and so many others like them. For more click back to the Steamboat Springs blog main page.

Good Morning America comes to the Steamboat Winter Carnival

Steamboat's Winter Carnival drew national attention this year with the arrival of Good Morning America to cover the festivities. Their segment (Watch it HERE click on the plus at the bottom right to see it bigger) did a good job covering a few highlights but there is nothing like being here in person to feel the energy of the kids, spectators and the Steamboat down to earth authenticity that comes for the great people here and can't be duplicated anywhere else.

It warms my soul to be a part of it and seems to have the same effect on everyone there. My 5 yr old son did some of the skiing and night events, my 3 yr old Neve let us know she was ready to join in next year. It is worth a special trip to check it out for yourself so mark it on your calendar for February to join in on the fun yourself. Only in Steamboat...


For more click back to the Steamboat Springs blog main page.

Steamboat Champagne Powder Day

It was "almost" worth living here for today's skiing. Here is a short clip of my wife Wendy skiing 2 feet of fresh powder in the backcountry today. Its just one of the many reasons that we are fortunate to live here.

For more click back to the Steamboat Springs blog main page.

Pending home sales rebound, up 6.3%

Some more good data for the housing market as people are responding to low interest rates and deals on homes. We have seen a definite uptick in buyer activity here in Steamboat over the last month and a half too. Give me a call if you would like more insight into the Steamboat market and the opportunities the current market presents.

Pending home sales rebound

2-3-09 WASHINGTON (Reuters) – Pending sales of existing U.S. homes rebounded in December, data showed on Tuesday, as buyers waded back into the market to take advantage of lower prices and mortgage interest rates.

The National Association of Realtors Pending Home Sales Index, based on contracts signed in December, surged 6.3 percent to 87.7, rising for the first time since August. Compared with the same period a year-ago, pending homes sale were up 2.1 percent in December.

Economists polled by Reuters had forecast pending home sales to be flat in December. November's pending home sales index was revised up to 82.5.

For more click back to the Steamboat Springs blog main page.

Steamboat is ready for your next visit

I just wanted you to know that we have been working hard here in Steamboat to prepare for your visit over the holidays. We are now open top to bottom but will benefit from the next couple of storms to fill things in and be fully ready. I personally spent some quality time making an intense effort to stabilize the snow pack using my experience to find that vulnerable untouched powder no matter where it may be. We have gotten about 2.5 ft since Thanksgiving day so the trend is going our way. It looks like they are starting to get resolution on this week’s weather and so far it looks good. The next storm is expected Monday through Thursday followed by one more Sunday according to the National Weather service. A Winter Weather Advisory has already been posted for Monday night so let's hope that gets upgraded :) For more click back to the Steamboat Springs blog main page.

Steamboat Christmas Trees

In Steamboat we have an abundance of perfect Christmas trees conveniently located in my favorite ski runs. Mother Nature has been kind enough to decorate them perfectly for us. Want to celebrate the holidays with us this year?

For more click back to the Steamboat Springs blog main page.

Local's Opening Days

The Steamboat Ski Area "Offically opened on it's traditional day before Thanksgiving start date but it is never quite official for locals until the top of the mountain opens. This year it came on Friday for the Gondola and Saturday for the Storm Peak lift and Closets to Twilight. I was fortunate enough to be there for both an got some great powder as is almost always the case when they open the top. There was 11 inches on Thursday night along with the YTD snowfall especially on the runs with some shelter or northern aspects (those were SWEET).

The base up top in the trees was better than I expected at the small cost of not sinking in as much since it had consolidated before the last storm (but that makes for a better base). I don’t think I hit anything despite not really worrying about my skis and my overall where the powder leads me style of skiing. Storm Peak face was as nice as you ever see it and Heavenly Daze was great but some of the groomers could use more coverage. Most of that will be cured by some more snowmaking. Friday I was the 2^nd person down north facing Ted’s ridge on the lower mtn and got high calf to high thigh powder otherwise it was high calf to mid-thigh in the trees with a few upside surprises. Saturday I was able to outfox most of the other powder hounds to get 5 runs from Closets to Twilight where I crossed few tracks and found more than a few face shots.

For more click back to the Steamboat Springs blog main page.

Are the Banks still lending money to buy in Steamboat?

You wouldn't think it but I get this question all of the time and the answer is yes. The stats show us that 8-15 families per week are buying in Steamboat and while volume is lower than last year average prices are up. That said there are a few deals to be found we are just fortunate to be in a market that is more stable than average due to our relative value for a mtn resort, little if any sub-prime exposure along with much more capable and conservative buyers that can make their mortgage payment.

The percentage of cash deals continues to increase just like Income needs to be documented but every loan application a client of mine or the broker who brought a buyer to one of my listings has done this year has been approved. To be honest the loans and closings have been some of the smoothest I have seen with anything from an immigrant fast food manager, to an unmarried couple with limited credit to jumbo loans. and things in between. The major change is that you need to go to a mortgage person that works for a bank vs. a typical broker who is on their own. The broker at the bank will still most often shop multiple wholesale lenders like traditional mortgage brokers did. The difference is the wholesalers feel better about working with someone that is responsible to a bank since many of the marginal loans in the 5 markets that most of the national mortgage issues are in were done by unaffiliated brokers. Most mortgage brokers were very honest but this was one of the steps that was taken to tighten up this system.

With the state of the economy and a the chance to pick the property of their choice at a discount buyers wanting to upgrade or make Steamboat a part of their lifestyle are taking advantage of the buyers market to fulfill their goals. These are not people ignoring reality but sophisticated people who are taking this break to purchase exactly what they want at a good price with the time to make a considered decision. If you would like to learn more or find a great mortgage broker let me know and I will give you thoughtful guidance. For more click back to the Steamboat Springs blog main page.

Forbes Magazine features Steamboat Springs

Steamboat Springs has been recognized by Forbes Magazine for the renaissance of our authentic Western resort town. The thing that Forbes doesn't know is that Steamboat was a real town long before it was a resort and our down to earth roots run deep making it a great place to spend quality time with your family. The Yampa Valley seems to be an incredibly effective filter for nice people whether they are of modest of considerable means and that will continue to make Steamboat special even as many improvements are made and higher end properties come to town. I get asked all the time if Steamboat will be able to keep it's charm with the new development and the answer is that it will as long as everyone that comes here continues to ask the same question.

The article in Forbes has this to say: "For a long time, Steamboat Springs was held together with duct tape and paint," confesses Mike Lane, who has worked in public relations at the resort for more than a decade.

But change is afoot. In March 2007, Intrawest, the behemoth that made Whistler a ski-mountain star and transformed Mont Tremblant, acquired the Steamboat Ski & Resort Corporation for $265 million.

What they got is a place with great bones. Steamboat Springs isn't Aspen--if you see animal skins on Lincoln Avenue, they most likely belong to the horses wearing them. This is a classic Western main street, with low-rise buildings and still enough mom-and-pop places to balance out the galleries, sushi bars, and boutiques now setting up camp. It's a town where they dump extra snow on the main street during February's Winter Carnival and hold "skijoring" races, with cowboys on skis pulled by galloping horses.

They call this place Ski Town, U.S.A. for a reason. Steamboat, the mountain, is a great, if vastly under-appreciated, delight, with some of the best tree skiing in the West. The phrase "Champagne powder snow" was coined here, and this past winter was a "four-wire" one, referring to the height of snow on the barbed-wire fences surrounding local ranch land. And you can't throw a snowball without hitting an Olympian. The town has produced 69 winter Olympians, more than anywhere else in the U.S.

But until recently, visitors in search of the luxe life à la Beaver Creek found it simply wasn't available. Now it's on the way. There are presently cranes looming over the base of the ski mountain, and developments near the slopes like Edgemont (124 homes, from the $800,000s to more than $2.5 million) and One Steamboat Place (residences up to $4.75 million). Right now, Marabou Ranch, a posh real estate development five minutes outside town, is setting the tone.

Situated on 1,700 acres near the mountain known as Sleeping Giant, which seems too apt for words, Marabou offers 62 homesites, starting at $2.75 million for five acres. Marabou already has a members' lodge and an elegant club 15 minutes away on the slopes. It also has deep Steamboat roots thanks to managing partner Jeff Temple. Temple's dad, James, founded Steamboat ski mountain, while Jeff created Spyder Skiwear with his friend David Jacobs. As an owner at Marabou, you can ride with cowboys, brand cattle, fix fences, and then retire to your home (10,000 square feet max) to spruce up in your marble bath.

This winter, expect to see foundation holes everywhere around the base of the mountain. While some locals are nervous that Steamboat will lose its considerable charm, its new owners are sanguine. "This horse," says Andy Wirth, chief marketing officer of Intrawest, "has got a brand-new saddle."For more click back to the Steamboat Springs Blog main page.

The Winds of Change are blowing

In Steamboat ... and they have brought in 3-4 inches of snow at my house in the last 4 hours with more to come. We are under our first Winter Storm warning of the season at it looking like it was justified so far. I have a dream that this will be an epic winter with deep powder and many ski days for all. It is times of change like these that we all must reflect, think about what is important in our lives and make some plans to Ski Steamboat! The snowplows are already out tonight even with a tight city budget that is already drained by last season's record snow...

For more click back to the Steamboat Springs blog main page.

Winter makes it's third run on Steamboat

It snowed some this afternoon on top of a little that was left from this weekend. Afterward there was good coverage up top and snow most of the way down. It started snowing again around 1130pm tonight and there was about 1 inch on my deck. I hope that you are ready to ski because mother nature seems to be telling us it going to be another good winter and there are only 35 days left until ski season!!! For more click back to the Steamboat Springs blog main page.

Opening day for Ski Season in Colorado

My 5 yr old son Alden and I decided that we couldn't resist the chance to bag opening day at two resorts in one day today. A friend hooked us up with lift tickets to make it practical. My favorite ski shop in town Steamboat Ski and Bike Kare set Alden up with a great pair of skis and Mike Parra, one of the owners, did a fantastic hand tune for Alden to give him a fast start on the season. Mike recommend he go up to 100cm skis and they were perfect. Alden is skiing pretty fast for his first day out. I won’t be able to keep up with him for long. A few little tweaks and he will rip.

We skied A-Basin and then Loveland today for their opening day. The weather was absolutely gorgeous and the snow was very good with only a few hard spots.A-Basin was pretty crowded with long lift lines but Loveland was wide open with a perfect run that had a steeper pitch for Alden to find his carve on. Alden must have been the only little guy there because we got interviewed by the Rocky Mountain News soon after arriving and then the Denver Post a few minutes later. We had a great day and I couldn't help but picture many more with him and my 2 yr old daughter Neve on Mt Werner in Steamboat this season. We have already been in training for several week watching ski movies to inspire us for the coming season.

Here is a video of Alden skiing at Loveland - The wind noise is all our speed as it was calm today. Smooth sailing on opening day for Colorado skiing

Smooth sailing on opening day for Colorado skiing
The Rocky, Updated October 15, 2008 at 12:21 p.m. Lifts opened today at Arapahoe Basin and Loveland Ski Area. The Rocky's Julie Poppen blogged live.Alden Wade is only 5 but he's been skiing for four years. Yep, you got that right. But he's from Steamboat Springs, after all. And let's just say his dad, Realtor Jon Wade, wants to make sure he has a partner in crime. So, Alden got an unexpected day off from the ABCs and 1-2-3s of kindergarten. "I got to skip school," said Alden, as he munched pizza in anticipation of getting a few runs in at A-Basin before the two drove to Loveland. "You've got to teach kids right from the start," dad said. Steamboat, after all, doesn't open until around Thanksgiving. This was Alden's first opening day experience - outside of Steamboat. He started out skiing by hanging on to a bar and getting down the slopes with his dad.

The Denver Post used this picture and some text that shows if you mouse over the picture: Click here to see Alden. For more of my musings and adventures click back to the Steamboat Springs blog main page.

Colorado's 2008/2009 Ski Season Kicks off on Wednesday

A-Basin just notified my friend at Colorado Ski Country USA and sent this picture minutes ago. They will be opening on Wednesday October 15th. It's not Steamboat but we do have about 6 inches on top and the news is sure to warm any hard core skier's heart. It will do more than warm Loveland's heart , A-basin's annual rival for opening honors but I wouldn't count them out yet as they are at the same elevation. It's just a matter of if they are prepared. It has been plenty cold at night up there to make a lot of snow so it may be surprisingly good. Props to A-Basin for kicking the season off.

As for Steamboat the mountain plans to open on Wednesday November 26th for the traditional day before Thanksgiving for Steamboat Winter Sports Club Scholarship day. Lift tickets are usually $10-20 depending on snow and all proceeds go to fund the Winter Sports Club's athlete's.

While we don't open as early as the front range resorts opening days have been some of my most memorable powder days in Steamboat. There is often 3 feet of powder in the trees and upper runs that pays incredible rewards to those willing to brave early season stump, rock and trees hazards (these are not usually a big deal if you just watch where you are going but don't tell anyone that :)

For more click back to the Steamboat Springs blog main page.

How does the economy affect Ski Vacations?

I thought you might like to see this article from the National Ski Area Association on the impact of a poor economy on skier visits. If the snow is good the skiers still come. Accuweater.com is forecasting a good year for the Northern Rockies so we will look forward to seeing all of you in Steamboat this winter :) Keep up your snow dances. Fares are very good into Steamboat this winter so don't leave us spoiled locals alone to ski it all for ourselves... we will get lonely eventually.

NSAA OUTLINES POTENTIAL BUSINESS IMPACTS OF ECONOMY, SNOWFALL
SAM Magazine—Lakewood, Colo., Oct. 9, 2008—A special NSAA report prepared by RRC Associates concludes that snowfall will be a greater indicator of visits this coming season than the economy. The report is based on an analysis of visits, snowfall, economic conditions, and consumer confidence over the past 30 years.

RRC outlines two different scenarios for the coming season. In the first, the economy and consumer confidence are weak, but snow is plentiful and consistent throughout the season. In this case, snow quality, temperatures, and timing of snowfall will determine area visits. The clearest example of this is from 1981-82, when the economy was in recession but good snowfall led to a rebound in visits from the previous poor season—from 39.7 to 50.7 million visits.

If the economy and consumer confidence are weak and snowfall is erratic, however (the second scenario), poor snow and a weak economy can combine to reduce visits dramatically. Such was the case in both 1980-81 and 1990-91, the two years with the lowest visitation over the study period (39.7 and 46.7 million visits respectively). The report concludes that if snow is good, even a significant economic downturn will likely have only a “moderate” impact on visits.

For more click back to the Steamboat Springs blog main page.

Abundant snow is forecast for the Northern Rockies this winter

Accuweather.com is predicting another great snow year for the coming winter, just not a big as last year. This is great news for us Powderhounds here in Steamboat. I have a policy of never complaining about snow since I wish so hard for a great ski season every year but I have to admit I need a few more weeks of the perfect fall weather we are having this year to be ready for the transition to winter. I has been gorgeous lately, sunny and 70's during the day showing off the fall colors with nights at or below freezing . Last night 2-3 inches of water in my boat cover froze solid. Is everyone ready for another great snow year?

Excerpts from Accuweather.com's winter 2008/2009 forecast: According to Bastardi, December could be the roughest month of a colder and snowier winter that could finish with another cold spell in late January and February. Temperatures in the West will be warmer than last winter, and could be warmer than normal. Ski resort operators in the northern Rockies and the Northwest will enjoy another season of abundant snow, although snow depths will not match last winter's record-setting snowpack.

The storms that have moved through the West over the past week have brought early snow to the high country. A new storm moving through the West this weekend will add more snow while pumping cold air as far south as Southern California. The storm will move into the Northwest on Thursday. At the same time, the jet stream will plunge to the south, bringing cold air into the Desert Southwest and Southern California.

While snow this weekend spreads from the Wasatch Range in Utah to southern Montana, strong winds wrapping around the bottom of the storm will blast across Southern California, Arizona, Nevada and New Mexico. Heavy snow is possible into the weekend in the higher terrain of the northern Rockies. For more click back to the Steamboat Springs blog main page.

Steamboat's First Snow on Mount Werner for 2008/2009 Season

The Steamboat Ski area received our first official snow of the season last night. We had a record winter of nearly 500 inches last season followed by about 170 inches after closing, a relatively short but amazing summer, a beautiful fall and now our first snow on Mount Werner. Before this we have had 2-3 snows in the area on the Zirkels and Flattops since August. The first snow on Mount Werner is our official wake-up call to get in our last month or so of summer / fall activities, start getting in shape, tuning up the snow blower and start more frequent day dreaming about the powder we will ski this winter.

There are now 51 days until opening day and while I want to enjoy every fall day I can't help but dream myself. I know I am not alone because I get several calls a week from friends and readers asking if it has snowed yet, telling me how psyched they are for ski season and planning everything from trips to new gear to make the most of the season. As you might imagine I don't mind getting those calls one bit and my voice perks up as soon as I know I have received one. Below is a video produced by the Steamboat Ski area summarizing our record breaking 2007/2008 ski season here in Steamboat that I thought might help you get in the mood for this season. Start planning your season now if you haven't already. Airfares on all of the airlines are great this season since Frontier has come to town so take advantage and plan an extra trip or two.

For more click back to the Steamboat Springs blog main page.

Vast New Ski area progressing (from 1958)

Here is an excerpt from 1958 that I wanted to share. I am lucky to know Jim Temple and John Fetcher two of the key group that founded what is now the Steamboat Ski area. The more I learn the more impressed I have become with the vision and persistence it took to make their dreams a reality. Here we are looking forward to ski season and 50 years ago they were looking forward to the first ski season on Storm Mountain.

Steamboat Springs Oct 1958— After three months of carefully supervised work, 4 miles of ski runs have been cleared for the first portion of the mighty Storm Mountain ski development, which is expected to become the top ski area in the nation. Officials of Storm Mountain expect to start construction of their first modern double chairlift in May, opening the 1,100 vertical feet of the initial ski area to visiting tourists who want a breathtaking view of the Yampa Valley by July 1959. Jim Temple, Storm Mountain president, said the area will be open to the public this winter for test runs down the many ski trails. Buddy Werner, one of the world’s greatest skiers, has been here through the summer to give his advice and suggestions gathered from his wide experience as an Olympic skier. For the full article in the Steamboat Pilot click here For more click back to the Steamboat Springs blog main page.

Local Lending situation update

Not a week passes that I have someone tell me about how they have read you just get a loan. These are all intelligent people that have come to this conclusion and it is no mystery why they think this given the simplistic and often dramatic headlines. I follow this closely because it is central to the health of our market and the advice my clients seek.

Here is the scoop. In talking with local lenders capable clients with good credit who can disclose income and bring 10-30% down depending on the property type are being issued loans everyday. It is not as simple as last year just more like 3-4 years ago which is just fine. One place it will be difficult is through independent mortgage brokers because the banks are keeping their mortgage originations in house. Locally Wells Fargo, Alpine Bank, Yampa Valley Bank and likely some others are actively approving then closing mortgages on Steamboat Condos, Town Homes and Single Family homes. Give me a call or send an email for my recommendations on the best mortgage lenders in town or anything else for that matter especially if it involves skiing or having fun in my favorite town of Steamboat Springs. For more click back to the Steamboat Springs blog main page.

Why the Mark to Market Changes will help stabilize the national market

I thought I would share this article I found on Mark to Market and how it is driving much of the current crisis. The current mark to market rules were added to increase the accuracy of financial statements but have become a real problem that is somewhat artificially squeezing banks out of business because tehy are forced to value assets on their books at the last sale instead of the value based on their expected payouts. As in all things there is a grey area since there is room for the unscupulous to manipulate things to hide problems but I think that the appropriate balance can be found to reduce the current domino effect we are seeing and allow assets to be held at reasonable values until there is a more normal balance of buyers and sellers. That balance will be helped in great parts by having banks that don't need to sell something today at a fire sale price that goes on to trigger additional sales by other banks and so on I have been describing this situtation to partners and clients a lot recently so I was happy to see it in a well written informative piece.

I believe in having a deep understanding of both our local market and the national real estate and credit markets that come to play in the decisions my clients are making so if you would like to discuss what is going on in more depth or work with someone who has the depth to advise you thoughtfully feel free to give me a call on my cell phone anytime at 970-819-6930. I will listen to your goals and thoughts then give you an honest picture of the things you need to consider to make a great decision.

In Steamboat we are fortunate to have a much more stable market that has either maintained values or increased in most segments and has a whole since we don't have the two key things that drove the 80% of the problems located in 5 key states. They would be risky loans and tremendous over-supply. We are also fortunate to have well over 95% of buyers that do not need to sell and very little foreclosure activity.

The article: "There are a lot of rumors about what is happening in the financial markets. This should give you some insight on one of the factors. Whatever the political posturing regarding the current rescue plan, a plan needs to be passed. Credit markets are frozen and banks are going bust every day. This is not totally because of "toxic" mortgages. This has a lot to do with FAS 157, also known as "mark to market". This is only one piece, but is important to understand.

Each day lenders must mark their assets to the marketplace. The increase or decrease in the value of these assets is offset in capital. If values increase, capital increases, and if values decrease, capital is decreased. It's like you having to appraise your home everyday. If your neighbor was under duress because they got very ill, divorced, or lost their job and was forced to sell their home quickly they may have to sell it inexpensively. Let’s assume that with a normal sales process it was worth $500,000 and they sold it for $400,000. Now, does that mean your house is worth that $400,000? Clearly not. Why? Because you are not under duress. You have the time to sell your home and get a more normal price, which more accurately reflects true market conditions. (Think of the price you get at a pawn shop versus selling the item on an open market.) But "mark to market" does not allow for valuing at true market conditions, which creates a vicious cycle.

Why is this so bad? Most Financial Institutions are required to maintain certain amounts of capital relative to their assets (primarily loans and investments). As lenders mark down their assets thru capital, the ratio of capital to assets decreases with no change to the amount of assets they have on their balance sheet. For example, say a bank has $1 million in capital and they have $15 million in assets outstanding. Their ratio is an acceptable 15 to 1. But should they take a paper write down of $500,000 due to mark to market requirements, their ratio suddenly changes to 30 to 1. This is because their capital is now only $500,000 after taking the paper loss, while their loans outstanding are the same $15 million. And at 30 to 1 this bank is viewed as risky. So the stock price starts to get hit, it becomes harder to borrow, and most importantly harder to make money. The bank is then forced to sell some of its loans or investments to reduce its ratio...at below “true” market prices. Yet really, nothing has changed at the bank. And this makes the vicious cycle continue.

This is not easy to understand for the general public. In fact most politicians don't get this either. That's why it is a difficult yet critical bill for them to vote on. Once this is done it will take some time but the markets will stabilize. As for the real estate and mortgage industries, it will take a bit of time but we will make it through this. Rates will remain attractive and the influx of credit availability will help the housing market gradually improve. This ultimately will be the medicine needed to improve the situation overall."
For more click back to the Steamboat Springs blog main page.

Alden showing off the ULTIMATE Steamboat Smore

I just ran across this picture and couldn't resist showing everyone my son Alden's favorite summer creation. We have a decent sized lot and a firepit so it is not uncommon for us to have smores at night. Alden has taken this opportunity for experimentation to bring up the level of smore making to an "art". He also makes sure to include indiginous materials he saved from winter, the fluffy bumps still around from our record winter that is ;) My innovation this summer (I couldn't be the first but have never seen it before) was to use Reeses peanut butter cups in the smore. For more click back to the Steamboat Springs blog main page.

Steamboat Legend and 2008/2009 Snow Forecasts

It has been a wet fall with a lot of rain and very cold nights so far. Even though I treasure every day of fall as a skier my thoughts inevitably turn to pondering what kind of winter is approaching for Steamboat. Everyone in town has their favorite method but I tend to defer to those that have ranched the land since Steamboat's earliest days, lived intimately in those winters and have a real connection with the climate here in Steamboat. John Fetcher fits that description and he is also one of the five partners that Jim Temple led in founding the Steamboat Ski area. I have had the good fortune to see John a lot recently at dinner with a mutual friend and a couple of parties. Getting to know him better has not only increased my respect for him immensely but given me a greater understanding of our history in Steamboat Springs.

It is a pleasure to have a conversation with a man that has shaped the Yampa Valley in more ways than I could possibly mention here, hear about how many things came to be, and smile as he relates things he was a part of in a very understated humble way. He is a true Steamboat icon and a great example for us as we look forward to remember the qualities that got us here. Things we must maintain if we hope to keep this valley as special as it has been given to us by our founding fathers and mothers. BTW I have seen tons of Beaver sign every time I have fly-fished in the Elk River Valley this year, just like last summer and fall which preceded our record snow year last fall. Let's hope John is right but either way it is always fun to dream.

Excerpts from the Steamboat Pilot: "...if you’re like John Fetcher, who has lived in the Yampa Valley since 1949, you can talk with the beavers.

Local legends and old wives’ tales abound in regional weather predictions, but Fetcher said his commune with nature gives him an idea of what to expect. “I get my winter forecast from discussing the matter with the beavers that infest our ranch,” Fetcher said. “We have lot of beavers, and if they build lots of dams, we figure it’s going to be a hard winter.” So far, Fetcher’s furry forecasters predict a heavy snowfall, he said, although he admitted he doesn’t put much stock in the data.

For December to February, Larson said there is a 42 percent chance of above-normal temperatures, with a 33 percent chance it will be near normal and 25 percent chance of below-normal temperatures. The climate prediction center of the Weather Service also predicts there will be near-average snow for the year. Despite the discrepancies, there was one thing that all forecast methods agreed on: snow is coming.

For more click back to the Steamboat Springs blog main page.

Colorado Home Price trends compared to distressed states

Here is an updated graph per a reader's request. Colorado remains in much better condition than others. Volume in Denver has picked up considerably as people have become more active in buying foreclosures (lower average price than a non-distressed sale which does pull down average prices) which I believe explains some of the dip in the graph below. Colorado is the blue line in this first graph and red in the second one. The word I hear from good sources in Denver is stabilization and some improvement as inventory is going down. Original graph when this post was first done
The Steamboat Voice of Reason Blog had the audacity (many news sources find it more profitable to cover only the bad news) to post credible data from the Federal Reserve Bank of St. Louis showing the chart above that compares relative home price changes in California, Florida and Colorado. Colorado is the red line and it shows pretty clearly the differences between our market and the 5 states where the large majority of the housing crisis is playing out as represented by California and Florida. It is nice to see data that shows this so clearly from such a credible source. I am not saying we don't have issues in Colorado or the other 45 states but it is nice to see how individual states are doing.

I follow this very closely and even I was surprised by the differences between these states and how good Colorado looks after so much one sided news coverage.

If you would like to know more or talk about how this affects your situation just give me a call anytime at 970-819-6930. For more click back to the Steamboat Springs blog main page.

Alden's First Bike Ride on two wheels

Biking is just as important as skiing for most locals here in Steamboat so I thought that you would like to see Alden’s first bike ride without training wheels where he started by himself. It took him less than 5 minutes to figure it out once we put him on a small bike like a friend recommended then he started on his own this time with no assistance. I can already picture mountain biking on all of the amazing trails we have around here with him and Neve. It looks like he was probably ready before this but we are happy that he did so well, he is very proud of himself and it will increase his confidence for other things. He wants to ride his bike every night when he gets home from school! Now I just need to think of what is next. This winter will bring his first season with the Steamboat Springs Winter Sports Club. Basically it is just skiing with a well matched group of kids and a coach on the mountain every Saturday afternoon but his friends that are a year older in this program already rip so it will be fun to see.

The leaves are changing here and everyone is doing well. We hope that things are good for all of you. For more click back to the Steamboat Springs blog main page.

Steamboat Springs Insider's Guide - Skiing basics

I have been thinking about doing a series with some insider's tips to Steamboat so here is a start. As you can see I am already thinking winter and many of the people visiting my blog lately seem to be thinking the same thing. If you want to know something in particular feel free to get in touch, you will get an answer and I may get an idea for another Insider's Guide topic. I’ll provide a top level overview for a start but there is much much more to learn and the best way to learn is to ski Steamboat with a local :) I am often available on powder days.

Groomed runs: Steamboat has excellent groomed terrain. If you want raw speed go for Heavenly Daze right under the Gondola to See-Me towards the bottom. I love ending the day on these runs or catching the fresh cord in the morning to get my heart rate up a little. On the upper mountain I like Storm Peak Face to Cyclone for speed if Cyclone is groomed. It pays to grab the grooming report, they don’t groom Cyclone often but when they do it is sweeet and un-crowded early. If you are smarter and prefer a more measured pace I love High Noon off of the Sundown Express lift to one of the groomed O’clock runs. High Noon is wide and you can go as fast or slow as you like with plenty of room to carve big arcs. If Rolex is rolled (groomed) below Rendevous it is always worth cutting over to that side but it is very fast. The rest of the runs over there are great for a less gripping pace. The Sunshine side around to the right from Sundown is sweet for hero carves right under the Sunshine lift. It would be absolutely perfect with a little faster lift but it is sweet as is. I go there when I need to dial things in.

Bumps: Go for Rolex if it is open or most any run under the Storm Peak or Four Points lift. There are tons of other good runs on the upper mountain. Sneak into Nelson’s Run on the lower mountain if no one is training.

Trees: Steamboat has fantastic tree skiing. I can stay happy in one section of Closets or Shadows all day on a powder day. Snow accumulation tends to multiply in there and it is not uncommon to see 2-5 times the reported totals in the trees. If it has been snowing recently a 5-10 inch day can be knee to thigh deep. It tends to snow hardest after the 5 am report here so don’t be discouraged by a 3-6 inch in snow report (even 1 inch can be good) if it is still snowing and there is a bit of a breeze up top. If I tell you much more they will run me out of town but I would check out Morningside, Tomahawk and someone who rode west in wagons. If you have a nose for powder you can find it for days after a storm.

Steeps: Steamboat is not known for steep skiing but if you ride the Morningside lift to the weather station. You find plenty of goodness. It’s not Utah but it takes 2 lifts to get to and much of it is North facing so it holds good snow longer. Let me know if you have more specific questions.

For more click back to the Steamboat Springs blog main page.

More signs the Denver market is strengthening

It is good to see more news out of Denver that confirms what I am hearing from insiders down there. Lenders are cautious these days and Wells has a reputation for being careful that allowed them to sidestep the issues that so many lenders faced. so it means a lot when they make a call on a turnaround in Denver Real Estate. Jake Marsh has been pointing out the shift for several months in his newsletters so it is nice to see broader confirmation from sources like this. In Steamboat we see a lot of people up from Denver that like Steamboat's mountain, small town feel and have grown tired of the resorts along I-70 getting swamped every weekend. Increased confidence in Denver should help Steamboat continue to be a safe haven from most of the national real estate issues.

Denver Post: "Colorado's largest mortgage lender is making it easier for home buyers to borrow money. Wells Fargo Home Mortgage on Saturday upgraded the status of the Denver Metropolitan area's real-estate market from "distressed" to "stable." "The fundamentals in the Denver market are changing," said Greg Osborne, regional vice president of the mortgage company. "Inventory is being worked down, and as a result, prices are stabilizing." There were 24,648 homes on the market last month, a 20 percent drop from August 2007's 30,827 homes, according to data released last week. The improved status of the market means consumers can borrow 5 percent more than they previously could, Osborne said.

"I am hopeful that it will stimulate demand by increasing confidence in our market," he said. "We may have led the nation into the doldrums, but we're again leading out of the doldrums." Jim Theye, managing broker for Kentwood City Properties, said the move could signal that the market has hit bottom and is showing signs of improvement. "This will really help buyer confidence, and it will really help rekindle a positive market," Theye said. "Our brokerage is definitely seeing increased activity."

Lou Barnes, owner of Boulder West Financial Services, said the negative perception of Denver's market has been misplaced. Barnes points to the PMI Mortgage Insurance Co.'s risk index, which says Denver has a 1 percent chance of home prices falling. That's far better than the 35 percent chance of prices falling that PMI forecast for the region in 2003. "Despite Denver's high foreclosure count, as a matter of price decline and underwriting risk, our greatest exposure was at the moment the tech bubble blew back in 2002," Barnes said. Jerry Kaplan, vice president of capital markets for Cherry Creek Mortgage, said the Denver market has been stable since June.
"Fannie Mae and Freddie Mac removed Denver from their declining-market list several months ago," Kaplan said. "

For more click back to the Steamboat Springs blog main page.

Steamboat Mortgage update

Despite what you hear in the national news knowledgeable lenders have confidence in Steamboat. Mortgages are available to qualified borrowers at good rates. I called Wells Fargo for an update on rates and basic loan terms they are currently funding in Steamboat. They are funding their own jumbo loans and as a result have great rates. Lynn is very professional and Wells Fargo is a strong bank that has avoided any significant mortgage related issues due to responsible policies that kept them away from the risky loans. If you are interested check in with Lynn for an update. FYI, Jon

Jon -
Wells Fargo is a stable lending institution with over 150 years of history. We have mortgage money available to lend to qualified borrowers. Here are a few loan ideas for today (9-15-08). Rates change daily or more often.

Loan amount, Occupancy, Loan to Value, Appx Rate, Type of Loan, Orig fee appx, FICO credit score

$729,000, primary, 75%, 5.875%, 30 year fixed, 0.125%, 760
$729,000, 2nd home, 60%, 5.875% , 30 year fixed, 0 , 720
$1,000,000, primary, 75%, 6.875%, 30 year fixed, 0, 720 with relationship
$1,000,000, 2nd home, 75%, 6.875%, 30 year fixed, 0, 720 with relationship
Many other options are available. Banking relationship means a Wells Customer or $50k deposited for loan term. Please call and we can discuss details. Lynn W. Reiff Wells Fargo Home Mortgage 970.879.8586 800.741.1553

For more click back to the Steamboat Springs

Snow on the Flattops last night

I just came out of a meeting with a guy that was down in South Routt county this morning and he said the Flattop Mtns just south of Steamboat had a nice frosting of snow on them this morning. It cooler this fall so far than last so its time to get in the last few weeks of summer sports and prepare for winter. For more click back to the Steamboat Springs blog main page.

Wash Post: Why This Autumn is a Great Time to Buy

Interesting article from the Washington Post. I think that we are seeing increased confidence due to some of the recent moves by the Treasury and strong signs of stabilization around the country. The 5 worst markets that are driving the national issues will likely take longer to recover but places like Denver are seeing a turn. In Steamboat we are seeing people with strong interest beginning to move more decisively to take advantage of the increased selection. YTD our dollar volume is still equal to 2006 which was a record year that was up over 30% but we are behind 2007 when things went crazy.

In Steamboat we generally are late to follow national downturns and among the first to come back. In most investments time is more important than the exact timing and I am seeing savvy people around town moving on quality properties. Give me a call if you would like a deeper understanding of what is going on here in Steamboat.

Why This Autumn is a Great Time to Buy
Washington Post 9/12/08

This fall could be a particularly great time for first-time or buyers long out of the market to jump in, say a variety of real estate professionals.

Here are the reasons why:
* Prices are probably as low as they are going to go as the market stabilizes thanks to the government takeover of Freddie Mac and Fannie Mae.
* Interest rates are likely to decline as Freddie and Fannie get government help.
* The Federal Housing Administration recently boosted its loan limits to $729,750 in expensive areas. It's going to take some of that back come Jan. 1, when the loan limit will shrink to $625,500.

Also in today's Washington Post: Mortgage Rates Drop Below 6%
For the first time since early spring, mortgage rates have fallen below the 6-percent threshold. Freddie Mac reports that 30-year fixed loans came in at an average of 5.93 percent this week, down from 6.35 percent a week ago and 6.31 percent at the same time last year. "Consumers see a five in front of mortgages, and they get excited," says Keith Gumbinger, a vice president at research firm HSH Associates.

For more click back to the Steamboat Springs blog main page.

Frontier Steamboat Springs Update

Steamboat's Vice President of Marketing Rob Perlman just said that United has slashed their fares to as low as $300 in response. We will see where it settles out but as I said below this should be good for airfares into Steamboat Springs. The Steamboat Pilot published a story this morning with more details. Here is my original blog post on Steamboat's new Frontiers flights
from this morning.

"Frontier will not have a contractual relationship with Steamboat Ski and Resort Corp. Other airlines have deals with the resort and the city, which collects a lodging tax to help support air service. “Frontier choosing Steam­boat on a standalone basis is terrific because it speaks to our desirability as a destination,” Wirth said.

Wirth said the presence of Frontier, a lower-cost airline, probably would put pricing pressure on other carriers. American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines and United Airlines offer nonstop flights to YVRA during ski season. That variety is positive, Wirth said.

For more click back to the Steamboat Springs blog main page.

Frontier Airlines comes to Steamboat Springs!

This announcement should be a big boost for Steamboat this winter for those whose live here full time or as much as they can. Another 200+ seats a day on a well run airline into Steamboat is a great thing. The best part is that they fly to most of Steamboat’s biggest markets where the majority of you live already (see below) so you and our loyal visitors that rent will have more options to come here.

Increased supply of seats should also help fares overall but will it make Steamboat more crowded? Christmas, President’s day and Spring break we are pretty much at capacity already and the mountain / URA has plans to improve lifts and other facilities over the next few years along with several new restaurants coming on line so that should be ok. On other weeks 700-1200 people shouldn’t feel much that much different at around 5-7% of available beds if you consider the mix of owners and rentals that will use these flights. We will see how it works out but it doesn’t appear to be too much and will provide a cushion if we lose other service due to current airline financial weakness.

I was curious where the fares would come in so I pulled a few Saturday to Saturday fares: from Houston over Christmas week is currently $655 and Spring break during the 3rd week of March is $455, the 3rd week of February is the same. Continental from Houston over Christmas starts at $718 per person and $408 over Spring break. Initial pricing is not a boon but more supply and airline diversity is very good and should moderate fares over time. It should also make the better fares available a bit longer since there are more seats to sell. If you want to check from where you live just click this link: www.frontierairlines.com or scroll down for the cities this brings us better access to.

Steamboat Springs (HDN) to and from:
Akron/Canton, Houston, Portland, Albuquerque, Indianapolis, Rapid City, Atlanta, Kansas City, Sacramento, Austin, Las Vegas, St. Louis, Billings, Los Angeles, San Antonio, Boise, Milwaukee, San Diego, Bozeman, Minneapolis/St. Paul, San Francisco, Chicago/Midway, Nashville, San Jose CA, Colorado Springs, New York/La Guardia, Seattle, Dallas/Ft. Worth, Oklahoma City, Spokane, Dayton, Omaha, Tampa, Detroit, Orange County, Tucson, Durango, Orlando, Washington D.C. Reagan, El Paso, Philadelphia, Wichita, & Phoenix

Check out the rest of my Steamboat Blog for other updates or just to dream about your next trip. I try to post a couple of times a week. As always if you have any questions about what is going on, the details behind something you read or you are coming out please email or give me a call to catch up.

Still avoiding a recession, Q2 numbers are revised up by 50%

Some more positive news. I don't know if it puts it to rest as they say but this is good news in my view. I am still watching a few issues but am encouraged by many factors. This is worth a read...

"Real Estate Outlook: Recession Fears Put to Rest

by Kenneth R. Harney

The latest national economic growth numbers should finally put to rest fears of a recession that could choke the real estate recovery now getting underway. Second quarter Gross Domestic Product (or GDP) came in at an upwardly-revised 3.3 percent -- far above the 1.9 percent the federal government had previously estimated.

Why should anyone interested in real estate care about GDP? Well, number one, when the economic growth rate accelerates, consumer confidence in the economy rises. That, in turn, pulls potential buyers off the sidelines and opens the door to higher housing sales, sure enough, the consumer confidence numbers for August, released last week by the Conference Board, are up by 5 points.

We're already seeing some impressive jumps in home sales in places that haven't seen positive news in two to three years -- central Florida and even some of the hardest-hit parts of California. According to a new report from the real estate tracking firm, DataQuick, sales in southern California jumped 16.7 percent in July over June, and were 14 percent above the pace of July the year before."

For more click back to the Steamboat Springs blog main page.

Denver Real Estate Market gains momentum

Here is more good news in Denver's real estate market from I company that is part of a Luxury Real Estate Group that I am part of, LuxuryRealEstate.com. It is composed of top brokers around the country that get together to share ideas and operate on a different level than our competition. Many people don't know that the vast majority of the country's foreclosures and thus most challenged markets are in 5 states and Colorado is NOT one of them. I have a long time friend that actively buys foreclosures in Denver and he told me last night that he doesn't see it lasting long as it is getting difficult to find good deals there due to increasing demand. He buys homes, does paint, carpet and a new lawn then sells them in 2-4 days from listing. I have another friend in Boulder whose business is up 47% YTD over a good year last year.

"Metro Denver’s real estate outlook continues to gain momentum, according to executives with The Kentwood Company. Others around the country agree. CNBC recently identified Denver as one of the top cities in the country to keep an eye on for continued strength. In addition, the most current S&P/Case-Shiller Home Price Index highlighted Denver for its positive real estate market. The general consensus is that the Denver market has already reached bottom and is expected to improve.

Roger Campbell, President of The Kentwood Company.“Denver continues to lower its overall monthly supply of homes in inventory, according to the local MLS,” says Roger R. Campbell, President of The Kentwood Company. “This ‘absorption rate’ for the month of July shows a reduction of 16.2 percent to 4.8 months supply of single-family residences and a reduction of 13.6 percent to 6.2 months supply of condominiums over 2007.

According to Kentwood, Denver and Colorado continue to show improvement for employment and a positive net migration of people moving into the state. As well, the unemployment rate continues to fare better than other states and the overall national average. The quality of life, performing arts, transportation and climate will continue to attract individuals, families and corporations to the majestic mountain state, appropriately deemed “Colorful Colorado.”

If you have any questions about the housing market beyond the headlines or real estate in Steamboat just give me a call anytime. My cell is 970-819-6930. For more click back to the Steamboat Springs blog main page.

Mae Mac Bailout drops rates significantly

The Federal Government has effectively guaranteed bonds issued by Freddie Mac and Fannie may by taking the agencies private on Saturday. This made their debt essentially risk free which translates in to lower Mortgage costs. A quick update from, Josh Kagan, a great mortgage broker in town.

"The government announced bailout of Fannie Mae and Freddie Mac had huge impact on conforming rates today including jumbo-conforming rates (up to $675,000 in Routt County). Conforming 30 yr fixed rates fell to 5.5% today and jumbo conforming rates to as low as 5.625%.

Whether you (or your friends and clients) are looking to purchase a new home at a relative bargain, refinance from an ARM to a fixed rate loan, or consolidate debt the current rates present significant opportunities. Please call or email if you would like any additional information."

For more click back to the Steamboat Springs blog main page.

Steamboat Base area improvements update

I got a question from a client about the status of projects and the public improvements at the base area so I thought I would share my response with you. In regards to base area improvements the public URA funded improvements are progressing and I just got chosen to be on the URAAC committee that manages what gets designed and built for the city. Intrawest has made the first round of on mountain regrading and new lifts at the base. Private project wise One Steamboat Place next to the gondola is doing their steelwork, Edgemont just up the hill below Bearclaw has broken ground and released the contract to build, Ski Time Square is being demolished as we speak but it will be at least a year before that starts due to planning time frames. Some things may go a little slower but not yet. Edgemont starting is a very good sign and a strong vote of confidence in Steamboat given the national lending environment.

I am always happy to answer questions or give you an update so call me at 970-819-6930 if you are curious about progress or the details. For more click back to the Steamboat Springs blog main page.

Great Steamboat Sunset from my friend Eric

Skier & photographer extraordinaire Eric R., who splits his time between Steamboat and Fort Collins, sent me this picture of a sunset from Labor Day weekend. Eric is a good guy who rents his 3 bedroom Steamboat condo VRBO direct if you ever need a reasonable place to stay when your are in Steamboat chasing powder or rolling our fantastic singletrack mountain bike trails. For more click back to the Steamboat Springs blog main page.

Steamboat Vacation Home Tax Tips

Here is some top level tax info from the Financial Insider on how owning vacation property can be a benefit come tax time in a few common scenarios. I work with a lot of people looking to buy in Steamboat Springs that want to know more about the tax implications of vacation property. I am happy to give them top level info and ideas on their options but always recommend they talk to their tax professionals for the details and what is best for their tax situation. I am knowledgeable but I don't read the IRS codes and you need someone that lives them.

From the article: "If a mountain getaway (In Steamboat Springs) or an ocean view has become your American dream, then perhaps you should know that a vacation home can offer some federal tax savings that may help pay for your hideaway. The tax laws differ depending on whether you use the home solely for enjoyment or mix business with pleasure by renting the property part-time.

As long as the combined debt secured by the vacation home and your principle residence does not exceed $1 million, you can deduct all of the interest paid on a mortgage used to buy a second home. The advantage is restricted to two homes. If you purchase a third, interest on that mortgage is not deductible. However, no matter how many homes you have, you may be able to deduct all the property tax you pay.

One break enjoyed by homeowners- the right to immediately deduct points paid on a mortgage- applies only to a principal residence. Points paid on a loan for a vacation home must be deducted gradually as you pay off the mortgage.

Personal Residence
Your vacation home counts as a personal residence even if you rent it for up to 14 days a year. In that case, you get to retain the rent tax free and don’t jeopardize your mortgage interest and tax deductions. However, you may not deduct any rental-related expenses. If you rent out the house on a continual basis, things may become more complicated. Different rules apply depending on the breakdown between personal and rental use.

First, if you buy primarily for pleasure but rent for 15 days or more, the rent you receive is taxable. Because the house is still considered a personal residence, you get to deduct all the interest and property tax. You may also be able to deduct other rental-related expenses, including the cost of utilities, repairs and insurance attributable to the time the house is rented. In some cases, you might even get to deduct depreciation. When the house is considered a personal residence, rental deductions cannot exceed the amount of rental income you report. In other words, your second home cannot produce a tax loss to shelter other income. In most cases, the interest and taxes assigned to the rental use of the house, plus the operating expenses, more than offset rental income, limiting your ability to write off depreciation.

Rental Property
Now consider your tax situation if you buy a property primarily as an investment and limit your personal use of the property to 14 days a year (or 10% of the number of rental days if that allows you more than 14). Because the house is a rental property in the eyes of the Internal Revenue Service, your deductions can exceed the amount of rental income you receive.

If your rental income does not cover the cost of renting the house, you may be able to claim a taxable loss. Rental losses are classified as passive and can be deducted only against passive income such as another rental property that realizes a gain. If you do not have a passive income to shelter, the losses have no immediate value (unused losses can be used in future years when you have passive income). There’s an exception to this rule, however, that permits taxpayers with adjusted gross income (AGI) under $100,000 to deduct up to $25,000 of passive losses against other kinds of income including salaries. To qualify, you have to actively manage the property. The $25,000 allowance is gradually phased out as AGI rises between $100,000 and $150.000.

When your vacation home is considered a rental property, the mortgage interest attributable to the time the premises are rented is a business deduction. The rest, though, cannot be deducted as home mortgage interests since the house doesn’t qualify as a personal residence.
The tax laws discussed here also apply to homes other than houses, such as apartments, condominiums, mobile homes or boats with basic living accommodations. Generally, these include a sleeping space, bathroom and cooking facilities. For more information, contact your tax professional. " For more click back to the Steamboat Springs blog main page.

Steamboat Fly-Fishing - Brown Trout

My amazing wife Wendy caught this stunning brown trout today in the Yampa River a little south of Steamboat Springs, CO. She was out fishing with her dad and one of his best friends on the More Ranch also known as Yampa Tailwaters Preserve. Needless to say they had a great time and caught quite a few great wild trout. If you would like to know more about this water and property give me a call for the inside scoop. I have intimate knowledge of this property and can help you understand if it fits your goals. Call Jon Wade at 970-819-6930

Technorati Tags: Steamboat Springs fly-fishing, Yampa River Property, More Ranch, Yampa Tailwaters Preserve, wild trout

Life and Real Estate in Steamboat Springs

Home Prices rise in 30 of 50 States

Somehow news like this rarely reaches the front page and instead the gripping headlines with bad news are almost always chosen. While the national market clearly has issues it is not all bad and there are often encouraging stats like this if you red some of the more thoughtful media.

According to the Office of Federal Housing Oversight's Housing Price Index for the 2nd Quarter of 2008 released August 26th, 30 of the 50 States had positive changes in house prices from June 2007 through June 2008, including Colorado!

Only 4 States (Arizona, Florida, Nevada, and California) experienced overall price declines of more than 5 percent.

The 20 ranked cities in the United States with the worst price declines over the last 4 quarters were ALL in Florida, California, and Nevada.

I really do sympathize with the people of these four fine States. Some of the price declines they have experienced are simply horrible! However, there are 50 States and only 4 with truly bad news for the last year. The rest of the country is simply experiencing a market correction from a rapid increase over the last 5 years combined with some sloppy loan practices that hurt the lending industry. The United States overall had a -1.71% change over the last year (skewed down heavily by the 4 troubled States).

However, even with the challenges over the last year, if you step back and look over a few years like any long term investment should be evaluated the United States STILL has had a 34.84% increase in home prices over the last 5 years! - That is not bad at all and the states that are down the most now are still up more than the national average. Over the last 5 years, Arizona STILL gained 62.68%, Florida STILL gained 54.03%, Nevada STILL Gained 50.81%, and California STILL gained 41.81% despite the losses of the last 4 quarters.

It is time for the news media to put away "The Sky is Falling" focus of their reporting and report the good news along with the bad. There are many signs that the market is working through the current challenges, inventory is going down and prices are stabilizing. While we still have challenges and some real problems the market is making progress.

Here in Steamboat we are up quite a bit more over time and prices have held stable and even increased in higher end properties. Only a few low end properties have been effected and those are still up by large percentages over a few years time. Give me a call if you would like to hear more about what is going on here in Steamboat. For more click back to the Steamboat Springs blog main page.

Dallas Morning News Features Steamboat Springs

Steamboat Springs is featured in a nice article by the Dallas Morning News this weekend with several quotes from Pat Stefanek a friend who has a "tough job" as a Master Guide at Marabou Ranch. Poor Pat has to Ski all winter and Fly-fish about 10 months a year.

Perfection in land of hoppers and droppers Saturday, August 16, 2008

STEAMBOAT SPRINGS, Colo. – The first year Pat Stefanek spent in Steamboat Springs (1991), he had three jobs, just trying to make ends meet. One thing he knew for sure. He'd do whatever it took to live his version of a Rocky Mountain high.

"I was lucky because I made my passion my living," said Stefanek, master fishing guide and river keeper for three miles of upscale private trout waters on Marabou Ranch, just outside of Steamboat Springs, and 40 miles of private trout waters on North Park Fishing Club in nearby Walden, Colo.

"Steamboat Springs is the world's greatest place to live," Stefanek said. "The name alone is very cool, but there's a terrific outdoor lifestyle here that's hard to match. There are great trout streams in every direction, many of them public waters. I had 110 days of skiing on the mountain last winter – lots of powder days.

"Everybody is hiking and riding mountain bikes – it's just a great, healthy lifestyle. Whatever you think you're good at, there's a 12-year-old girl in Steamboat Springs who can kick your rear." (8 or 10 years old would probably be more accurate, I am a pretty fast skier and I get blown away by the kids all of the time) For the whole article click here

For more click back to the Steamboat Springs blog main page.

Snow in the Steamboat Springs area last night

It came a day later than predicted but I have heard several reports of snow on the continental divide just north of the Steamboat Ski area. 4 to 6 inches in the higher elevations is the word. My heart is beating a little faster now, how about yours?

UPDATE: Two people told me today there was a good covering of snow in the Flattops south of Steamboat Springs so we are in the storm track. It is far to early to keep snow and I have more summer to enjoy but I never mind seeing a storm remind me where I live.

From the Aspen Times "At Rocky Mountain National Park, Trail Ridge Road was closed due to weather conditions. Howard Marco in the park's information office said at least half a foot of snow had accumulated on the road, which reaches altitudes of more than 12,000 feet and is billed as the highest continuous paved road in the country. Elsewhere there were trace amounts of snow in the mountains overnight, said Chris Cuoco, a meteorologist with the National Weather Service in Grand Junction. He said more precipitation could fall. For more click back to the Steamboat Springs blog main page.

Steamboat Season Pass advice

I often advise my friends to think about how much they will be out here for the coming season. Most people assume it doesn’t make sense to have a season pass because they live in XYZ etc but nearly everyone would like to ski here more and are pretty goal oriented about making that happen.

1. Take a minute to look a little deeper and do the math. http://steamboat.com/plan-vacation/tickets-passes/results/
2. The $979 pass price divided by $70 per day (assuming you get a good deal) equals 14 days of skiing to pay for it.
3. In Steamboat kids under 12 get a free pass for every adult that buys one, this is a big deal.
4. A large part of the value of having a season pass is the flexibility it provides. With Steamboat’s short lift lines you can have a great ski day in 2-3 hours and either “Work from Home” or trade off with your spouse and spend time with younger kids doing something else. It is getting to be a distant memory but I did a lot of working from home my last few years at HP and my rankings & results went higher the more I did. Hmmm, could getting a season pass be a great career move?? Be careful because you might end up moving here like me.
5. Make it a goal to be here more this winter not just some time in the future. I know that you have achieved much bigger goals than this so I am confident you will succeed.
6. Say you ski here a couple of weeks a year or a week and two long weekends you are well within reach.
7. If you are flexible why not watch the snow reports and plan on doing an extra trip on frequent flier miles when the conditions are perfect.
8. If you fly a lot for work tack on a few ski legs onto your itineraries over the winter.
9. If you have been meaning to delegate more or bring on a manger so you can get away more what better reason to push you over the edge?
10. A 20 day Super Value pass is $799 or $40 per day, 15 and 10 day versions are also available. 10-12 days is break-even , why not extend a stay or add a boys /girls trip to your winter plans?
11. Don’t think so much, just do it and you will be amazed how you will figure out how to use the extra days to enjoy our favorite mountain.
12. I have so many more ideas it is a little scary but I was once a remote local like you and spent more than a little brainpower figuring this all out. I am happy to advise you on the best strategy at any time.
    

Let me know when you are coming so we can get out and use those new passes or do something fun. For more click back to the Steamboat Springs blog main page.

Sunny & 91 today, Snow above 10,000 ft in Steamboat area tonight

Greetings from Steamboat! I hope that you have had a great summer and thoughts of winter are starting to creep into your consciousness just like they are with me. I walked outside last night and was surprised to get my annual epiphany that the seasons are turning and winter is coming again. It was a cool night with that extra twist if winter in the air that always tells me it is time to pack in more summer activities, start buying ski movies (bought one yesterday afternoon because I am helpless when shown a great powder day) and start thinking skiing.

It’s sunny and 91 today but they are predicting snow above 10,000 ft in the Steamboat area tonight. Here we are in the heat of August and we are already seeing signs that winter is coming. Even though last year’s record season is still fresh in everyone’s mind the snow gods can’t help but remind us to be good this fall so they can bring us another great winter. I am doing my best to be good and I hope that you will do your part. Don't get the impression that winter comes here in August. We have plenty of hot and sunny days ahead of us but mother winter lets us know that we live in a ski area and it is time to prepare for another winter. It is generally very nice through about mid October and possibly longer. I often ride my mountain bike until early November but we can expect a good snow storm close to the peak season for Aspen viewing in the 3rd week of September, often a foot or two on the mountain and some in town.

If you can, I recommend getting out once more in the summer or fall to enjoy some of our best weather and the changing leaves then start thinking about winter plans. I already have several requests from friends who don't live here YET to pick them up some skis in the fall sales.

For more click back to the Steamboat Springs blog main page.

Pending Home Sales Rise Nationally

It is nice to see some more positive news on the housing market coming out. I frequently find good signs in more authoritative sources like Forbes and Barron's but the papers seem to look for the worst headlines. Things in Steamboat are generally quite a bit better with volumes at approximately 2006 levels and prices generally firm to up with the exception of some lower end properties.

"Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.

In the West: rose 4.6 percent to 101.0 in June but remains 1.7 percent below a year ago

Lawrence Yun, NAR chief economist, says sales have been in a pattern of rising and falling within a fairly narrow range.

“The vacillation of data from one month to the next indicates a housing market in transition,” he says. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

Across the Region

Here's a deeper look at the index throughout the country:

• South: jumped 9.3 percent to 92.4 in June but is 16.6 percent below June 2007.
• West: rose 4.6 percent to 101.0 in June but remains 1.7 percent below a year ago.
• Northeast: increased 3.4 percent to 79.6 but is 15.4 percent below June 2007.
• Midwest: rose 1.3 percent in June to 79.6 but is 13.3 percent below a year ago."

For more click back to the Steamboat Springs blog main page.

The things I have to do to keep up with my friends

Kayle and Becky are great friends that I look forward to mountain biking with here in Steamboat every summer. I'll do anything to keep up with these desert people including taking them on a trail that is still covered with snow in July but nothing slows down these guys! I wondered why Becky let me pass her but after seeing this picture it was clear. It may not be Steamboat's famous Champagne powder 4 months after the ski area has closed but it still brings a smile to my face.

Believe it or not but this is July in Steamboat up on Buffalo Pass. Buff Pass is just Northwest of the Steamboat Ski area. I am told by several people that it receives more snow than any other measuring post in the state and pictures like this make me believe them. We had a record winter in Steamboat in 2007/2008 and it was too deep to snowmobile off the cat tracks multiple weeks this year. For more click back to the Steamboat Springs blog main page.

Steamboat Balloon Fest with Neve

Thanks to our great friends the Neeley's for this picture of Neve and I at the 2008 Steamboat Balloon Fest. There is nothing like cuddling my little girl in those rare moments of shyness. For more click back to the Steamboat Springs blog main page.

The snow line is rising and that means more mountain biking

A quick shot I took on the way back home from riding the Mad Creek to Red Dirt loop and part of the hot springs trail. All of which are now open!!! Get out and ride, more is coming soon, if you look closely there is a thin line of snow showing on the top of Sleeping Giant above. For more click back to the Steamboat Springs blog main page.

Global Warming in Steamboat?

75 degrees and sunny Sunday and now4-6 inches. I’m sure it is well over a foot up higher. We have to be close to getting 150 inches since the season closed up top and every storm the mountain gets tracked out literally top to bottom by people hiking for their turns. Truly an extraordinary snow year that just won’t stop. Don’t worry if you are thinking about moving. This is in no way shape or form normal. It is usually beautiful this time of year so it must be global warming at work :) I guess it is time to get up for some more May powder on Buffalo Pass, could be 2 feet up there.

For more click back to the Steamboat Springs blog main page.

4 feet on top since closing day

A friend told me that as of this morning there is 4 ft of fresh light stuff on top. So much so that the snowmobiles can't get close without a cut from the snow cats. The snow cats are having to actively keep all of the upper mountain roads open so people can get around to shut things down for the summer.

Its dumping outside again now so by the time you read this there will be at least another foot up there making for about 550 inches so far. What a year!

For more click back to the Steamboat Springs blog main page.

American Cowboy's Best Ski town to live in

Well they didn't put it exactly that way but my first thought when I saw this was to see if any ski towns ranked higher and sure enough Steamboat is the first to be both a great western town and a great ski town. Nothing we didn't already know but it is nice to see that others who don't even know how great it is in Steamboat can see it too :) The best thing is that our western image is authentic because we were a ranch town long before a ski town and that is real in more ways than just the image. The people here and the people Steamboat attracts are genuinely friendly. If you aren't friendly I don't think you would be either happy here or unfriendly for long.

From American Cowboy Magazine: Steamboat Springs, CO Its reputation as Ski Town USA is certainly a draw, but few know that Steamboat Spring’s ranching roots run deeper than any amount of champagne powder. Cradled by a fertile valley of the Yampa River, the area was once the largest exporter of cattle in the West. Today you’ll find that history alive and well at events such as Cowboys Round up Days, and the annual Hot Air Balloon Rodeo, both in July."

For more click back to the Steamboat Springs blog main page.

Simply Incredible Season

With 8 inches new yesterday, 10 inches today by 5am, still snowing and forecast for more all week we are not getting in much "spring" skiing this year but we keep adding to our record breaking season.

For more click back to the Steamboat Springs blog main page.

2-3 ft on Buffalo Pass above Steamboat Springs

Today we found 8 inches of beautiful whipped cream hero snow in the trees and had fun skiing a lot of aspects and lines we hadn't skied in a while. Then I got a call that there was 2-3 ft on Buffalo Pass which is to the left of Mt. Werner as you look at the ski area from town. Buffalo Pass is known for receiving quite a bit more snow that the Steamboat Ski area and some people say it receives as much snow as anywhere in the state making it a playground for locals with snowmobiles and clients of our local cat skiing operation which maintains the roads so it is possible to get up there. There were quite a few times this year that there was 8ft of Champagne powder up there making it nearly impossible to ride even the longest track most powerful mountain snowmobile off trail.

Today wasn't that deep but there was 2-3ft of relatively light powder on many aspects making for an incredible day to ski and snowmobile up on Buff Pass as most locals refer to it. It is surreal in some ways to ski that much powder just a few days before ski season ends when people are thinking spring, the bike shops are full and many are already venturing out to Fruita, Moab and Vernal to get the mountain biking season going. Another solid storm has been hitting for the past several hours tonight so lets see what tomorrow brings... See you at the Gondy in the morning.

For more click back to the Steamboat Springs blog main page.

Steamboat Spring Festivities

Steamboat will celebrate the end of the season with the Inaugural Springalicious Festival on April 5th & 6th in addition to the 28th Annual Cardboard Classic, a new SPLASHDOWN pond skimming competition and three free concerts by American Relay, The Radiators and Susan Tedeschi.

For more click back to the Steamboat Springs blog main page.

Steamboat is still breaking snowfall records

459 inches so far and 10 days to go. It's pretty incredible to have a record breaking year when we open 10 days late and close about 10 days earlier than normal due to the early Easter holiday. But that's what we love about the mountains. We never quite know what is coming and that makes the anticipation even sweeter.

Over 37 feet of Champagne Powder snow has fallen this year in Steamboat. The past record, set in the season of 1996/1997 of 447.75 inches has been topped. Every inch received until closing day will set a new record. In addition to setting a new all time snowfall record and registering a "four-wire winter", the resort hit three other milestones: passing the 300 inch mark on 2/1/08; passing the 350 inch mark on 2/7/08; and on March 2nd passing the 400 inch mark. Steamboat-Ski Town U.S.A. received more than 100 inches of snow for three months (December, January and February) for the first time in recent history.

For more click back to the Steamboat Springs blog main page.

Steamboat's Record Season!

4 inches of snow last night was all it took to put the 2007/2008 Season into the record books!! That makes for 450 inches so far vs. the record of 447.5 inches. It has been an incredible year and it makes me feel even luckier to live here. I hope that all of you got to be here for some good storms and share in the experience. From late November until about Mid February it snowed 8 out of 10 days with 4 inches or more 7 out of 10 days. When snow comes that consistently even 2-4 inches can make for a great powder day since it fills in the previous day not to mention Steamboat is notorious for under reporting snow fall. A report of 4 inches can easily be 8, 8 can easily be knee deep and a foot is at least thigh deep.

It was incredible year and while many are looking forward to summer I can't wait for the mystery and realization of what next season will bring. That said in the meantime I am happy to do some spring skiing followed by the mtn town ritual of desert mtn biking and water-skiing soon after the ice melts.

For more click back to the Steamboat Springs blog main page.

Daddy, did you know that snow is Magic?

You have to love little kids and the things they come up with. My 4 yr old son Alden couldn't have had me figured out any better when he asked that question. I said I do know a "little" about that but please tell me more. He replied with "Daddy, snow can make your dreams come true!". I broke out in an even bigger smile and said something like "Alden you are a very smart little boy to know that. Snow has been making my dreams come true ever since I grew up in western Michigan near the lake where we were lucky to get big storms from the lake effect and especially since I moved to Colorado in 1986 and first skied Steamboat. I learned here just how magical it could be. The magic of snow and what it does to people is why we live in Steamboat." I had never said it nearly as well so credit goes to Alden for that.

The best part is that ever time I think about snow, every time the right wind blows and every time it does snow the magic is as least as strong as ever. I notice something different every time, I am invariably filled with wonder and can't help but remember all of the magic that snow has brought me and those closest to me before. It's working it's magic on me right now, how about you?

Three Champagne Powder cheers to the MAGIC of Snow and to being successful passing it on to those that mean the most to us.

For more click back to the Steamboat Springs blog main page.

New Wild Horse Gondola

Word is that we may hear something soon on a deal for increased capacity of the public gondola from Wild Horse Meadows and the Ski area parking lot to up next to the main Steamboat gondola at the base. The Wild Horse Developers have been playing hardball according to several sources but the Steamboat Ski area and others are working hard to negotiate for a higher capacity version. That is the best solution for everyone in my opinion. Either way the Wild Horse people have said that they plan to put up the towers this summer and that will be exciting to see. On a side note Trailhead Lodge, the first condo building in Wild Horse Meadows has the majority of their concrete work done and began the wood framing this week. The last update I got said they expect to finish the building in June 2009.

For more click back to the Steamboat Springs blog main page.

The Sheraton Steamboat Golf course is renamed

It looks like they really stretched their imagination to come up with this name which is very similar to Catamount Ranch and Club. I can't figure out how they get a ranch out of it since the course is no where near a ranch and doesn't look anything like one. Is this a clue to what they have planned? I hope not.

From Troon Golf's Website: "Rollingstone Ranch Golf Club (formerly The Sheraton Steamboat Golf Club) is home to one of the best Colorado golf courses in the Rocky Mountains. Although known primarily as a premiere ski resort, Fairways Magazine has voted the award winning 18-hole Rollingstone Ranch golf course (formerly Sheraton Steamboat golf course) in Steamboat Springs, Colorado, as one of the 100 Best Golf Resorts.

Rollingstone Ranch Golf Club, a Rocky Mountain resort with a championship course designed by Robert Trent Jones II, offers incredible views of the Yampa Valley including Fish Creek that winds through seven holes of the course. Rollingstone Ranch Golf Club has forged a reputation for providing luxury conference facilities with 11 meeting rooms including a 6,300 square foot conference room that can seat 700."

For more click back to the Steamboat Springs blog main page.

FHA Increases conforming Loan Limit to $675K in Steamboat Springs

Recent congressional legislation paved the way for increasing the limits for conforming loans (loans available at standard residential rates which are lower than jumbo loans). This will allow existing property owners that purchased property with a higher cost second mortgage to refinance into a single standard loan program and new buyers to save money when they purchase a property above the previous limit of $417K which is pretty small in Steamboat where the current average single family home is worth close to $1 million dollars. This change is expected to just increase the ceiling for normal loan programs but we haven't seen pricing from lenders to confirm that given the revised limits just came out. If it works are expected this will help make loans up to $675K for single unit homes more affordable and that will help a lot of people who already own or are buying homes in the Steamboat Springs, CO area. Jumbo loans currently cost about 0.75 to 1 points more (the spread) than conforming loans since lenders classify larger loans like a risky loan even though most are less risky than the average conforming loan given the creditworthiness and increased resources most jumbo buyers have going for them . The new limit for 2 unit homes is now $864.1K which will help owners of duplexes.

Many holders of properties with loans over $417K were not able to take advantage of lower rates available recently because of this spread kept jumbo rates above what they had before. The spread is larger than before so there was little if any savings available. compared to conventional loans that could often be refinanced for a savings of 0.5-1%. For more click back to the Steamboat Springs blog main page or give me a call at 970-819-6930.

The Wonders of Ski Trips

I thought I would share a recent article from the New York Times that speaks to the essence and value of skiing with family and I would add friends. I think that we would all have a bit different take on what trips have done for us in good times and possibly bad, what we love most about them but the overriding experience, the stories we will never forget and lasting power of ski trips to bring us together is s strong presence that will span decades in any skiers life.

The sheer beauty, challenge, strange abilities to sail down a mountain almost like flying, unpredictably and countless rewards that skiing brings us all is irresistible. For me and many I know skiing forms a steady current that links many of the best times of my life together and has also brought me many of the best things like countless friends, my wife and a shared love of the sport already strong in Alden and Neve that I can’t wait to grow over time.

Sorry I have been an infrequent blogger lately. It was a crazy fall with many opportunities, 2 moves and remodels, concurrent with the holidays and then being sick for 4.5 weeks without a voice twice. All that was superseded by countless good times with friends, family, skiing with the kids and many great powder days. All is now well with us and I trust the same is true for you.

Here is the NYT article on Family Ski Trips Back to the Steamboat Springs blog main page for more.

Someone turned the snow back on... 32 feet so far

We have had incredibly consistent snow this year with 8 out of 10 days fresh until about a week and a half ago many locals were hoping for a break from shoveling and a chance to see the sun. We had some nice sun and late winter / spring conditions that allowed people to catch up on snow removal and the snowpack in valley to consolidate easing things a bit on the wildlife. We are closing in on 400 inches this year and it's not even March yet so let's hope for a record year with 460 plus inches!

Here is a quote from today's Straight Talk Ski Report " And the award goes to... While Hollywood rolled out the red carpet for the 80th Annual Academy Awards last night, we've rolled out the white carpet for yet another powder day in Ski Town, USA® a creamy-dreamy 6-8" at 5 a.m. with more falling from the sky. As Hollywood reached their milestone of 80 years, we are nearing our milestone of 400" just having surpassed the 32 foot mark. Keep it coming!

For my first turns down Rudi's I stayed skier's right and still found untracked lines with my name on them. Thick and rich, more vanilla milkshake than champagne, I floated through easing into my Monday morning nice and slow. The mountain is capped with a snow cloud and the visibility is minimal, we're talking last scene in Casablanca here's not being able to look at you foggy. "

Back to the Steamboat Springs blog main page for more.

Snowmobile Slalom Skiing in Steamboat

We are having a great winter here but that doesn’t stop me from thinking water-skiing or engaging in similar endeavors. Yesterday I took two snowmobiles 5 friends and I bought recently out to another friend’s Ranch in Steamboat yesterday to ride a little. My friend had the bright idea to pull out a vintage snow snake ski to Slalom with( it is basically an old 4 ft long ski crudely designed to be pulled. It was more than a little challenging since it uses a normal ski boot and the forward lean really throws off your position on the ski and the partial rear toe piece puts almost all of effort on your front leg since you can’t get the normal leverage and thus control from using both feet. I suspect it was designed for leather boots that didn’t have the forward lean modern ski boots do given it’s age. “Water-skiing in 3 dimensions” instead of just two added an additional challenge. It was a ton of fun, sparked some great falls and has me thinking about modifying an old water-ski for future excursions on a powder day, the snow in the valley has consolidated quite a bit in the week or so since it has snowed here vs. almost every day before then. A real water-ski handle would hurt either.

For more click back to the Steamboat Springs blog main page.

Steamboat Winter Water-skiing in the snow?

We are having a great winter here but that doesn’t stop me from thinking water-skiing or engaging in similar endeavors (If you want a good laugh watch the videos at the links below). Yesterday I took two snowmobiles out to a friend’s Ranch in Steamboat yesterday to ride a little. Dave had the bright idea to pull out a vintage snow snake ski to Slalom with( it is basically an old 4 ft long ski crudely designed to be pulled or so we thought until Dave Googled the inventor and found out it was for ski area use in the bumps and soft snow. The inventor is considering driving up to Steamboat to meet the guy that still uses one of his handmade snow snakes.).

The Snow Snake was more than a little challenging to ski for me since it uses a normal ski boot and the forward lean really throws off your position on the ski from normal water-ski form and the partial rear toe piece puts almost all of effort on your front leg since you can’t get the normal leverage and thus control from using both feet. I suspect it was designed for leather boots that didn’t have the forward lean modern ski boots do given it’s age. “Water-skiing in 3 dimensions” instead of just two added an additional challenge. It was a ton of fun, sparked some great falls and has me thinking about modifying an old water-ski for future excursions on a powder day. I case your are wondering the snow in the valley has consolidated quite a bit in the week or so since it has snowed here vs. almost every day before then. A real water-ski handle would hurt either.

Hartley starting things out and then me (Jon) water-skiing in snow, I hope I will be able to water-ski better than this come late March when the lakes melt here. Float back to the Steamboat Springs blog main page for more.

Steamboat Airline Schedules & Connections

Steamboat's airline connections are improving. We have added 50,000 new ski season seats in the last few years and our Fly Steamboat program continues to actively work with the airlines to add more seats and more direct flights year round. In addition, the airport is upgrading electronic controls, to cut the interval between landings of aircraft, now at 15 minutes, down to two minutes. The technology that will make this possible is called WAM, or wide-area multilateration. It is expected to be in place for the 2010-11 ski season. We have the most accessible airport in the Rocky Mtns right now in bad weather and this will allow us to get in even more flights in bad weather.

It is also worth noting that beginning in May United Airlines is going to year round jet service out of Hayden (HDN) for the flights that connect via Denver.

Back to the Steamboat Springs blog main page for more.

Barrons article on Vail demand - how Mtn properties are different

Here are some quotes from an article in Barrons about Vail stock with many interesting references to their clientele and real estate market. Steamboat is different than Vail in many regards but close if not the same in regards to supply demand and the credit quality of our buyers. Our prices are also about ½ of Vail’s and we have a much better story for improvements going forward. They make some points that have a lot of basis beyond Vail about how mountain resort real estate is sold to a clientele that is less sensitive to the national market because they recognize that the supply of prime ski area property is limited especially given the number of people looking to own or retire here and are willing to buy quality. Vail is different from Steamboat in many ways but the same in the desire of successful people that have visited to own or at least retire here. Something about mountain towns and the lifestyle they provide access to keeps a large place in people's hearts to the point many people aspire to live here. I should know, it happened to me and I meet people that feel the same way all of the time.

The "housing crisis" we have in mountains as mentioned in the article below is more based on how the lack of supply, buyers with great credit or cash, and demand that looks to continue to outstrip supply come together to make it more difficult for low to moderate income people to purchase in mountain resort communities. Sort of the opposite problem from the 5 states that are driving 80% of our national housing crisis that isn't really national.

Clips from the article in Barrons: "the surging ranks of the world's wealthy -- is relatively insulated from economic slumps. Heavy snowfall in the past two months, meanwhile, has been whetting the appetites of both skiers and a new breed of young visitors: snowboarders. Perhaps most important, a number of promising residential developments by Vail are starting to come to fruition. The company is developing hundreds of townhouses and condos in its area, and demand is proving remarkably strong.

"The pricing was done with a full awareness of what was going on in the global real-estate market," he says. With a limited number of residences being sold -- a total of 90 in the first building -- "buyers are confident they're getting something that may never be available again," he adds. "Even in soft years for the country, they keep growing," he says, mainly because of the limited supply and growing global demand. "It's surprising to me how many people will buy a $2 million vacation home and use it for three weeks out of the year."

Donnelly also found little to no correlation between economic changes and skier visits at Vail Resorts, including income growth for the top 20% of the U.S. population. That is, even when incomes of the affluent slip, they still manage to get away on ski vacations.

Here is full article in Barrons. It is worth reading. Back to the Steamboat Springs blog main page for more.

Housing Crisis Hits the Colorado Mountains

Eagle county is not unique in this regard but the meaning of housing crisis is quite different that in most of the country. The maxim that all real estate markets are local definitely holds in this case. Don't worry now, the problem here and in most mountain resort communities is a shortage instead of a glut like we all read about in the national papers. The national market is suffering from both oversupply and credit issues from the sub-prime market, two factors where the mountain resorts differ significantly from other areas. Limited land given the vast national forests / desire to maintain our rural character, the limited growth of city boundaries if any at all, the goal of so many to spend more time in the mountains they have vacationed in for so long and the prosperity of the baby boomers is creating demand far quicker than supply in a market where a large group of people have the means to buy with a large cash down payment if not just in cash.

We are all here for the quality of life so that is something people here think about and guides land use and development here in Steamboat.

MSNBC -EAGLE COUNTY, Colorado - It's official. Eagle County is in a "housing crisis" and can expect to feel the economic impacts in the next few years, experts say.The county needs 3,400 homes now, both affordable and market-priced, to address the current housing shortage, and more than 8,000 homes in the next decade to keep up with future growth, according to a recent study by RRC Associates and Rees Consulting, firms that specialize in housing analysis in resort communities.

Also, local residents own about 51 percent of the homes in Eagle County, a drop from the 69 percent of locally owned homes in 2000, the study said.

Back to the Steamboat Springs blog main page for more.

105 inches to go ...

Let's hope for another 400 plus inch snow year. After our late start it has been a truly spectacular year. The snow quality has been amazing even when there was only 4 inches new since that nearly always followed a couple of feet in the previous few days. Most days have been truly Champagne Powder and Intrawest is keeping up the Steamboat tradition of under reporting on the daily snow report so us locals can keep more of the good to ourselves :) I'll toast to that with a deep day in my favorite places to find the best Champagne powder. Come out soon and help us ski all of this snow!

From Today's Steamboat Pilot:
"Today marks the first day of February, typically the third-snowiest month of winter at the Steamboat Ski Area. The ski area reported more than 100 inches of snow falling on the slopes of Mount Werner in December and January — just the third time in resort history that’s happened.The ski area reports receiving 295 inches of snow since late fall. There have been only five 400-inch ski seasons in Steamboat Ski Area history: 1983-84, 1992-93, 1995-96, 1996-97 and 2005-06"
Back to the Steamboat Springs blog main page for more.

Moving your Family to a Mountain Town

The Mountain Jobs Blog has a nice post about making the move to the mountains. In my experience the key is deciding to do it and it is amazing how quickly you can figure out how to make it work. I know I am not unique in this regard since I have so many friends here in Steamboat that have done the same thing.

"Weigh your options, plan carefully …don’t say can’t, never say never and don’t ever give up on your dreams."

There is also an excellent post from a family that moved to Bend, Oregon that hits on several points well.

I look at it like this, basically there are lot of transitions that come our way in modern life so why take the default path everyone expects when you could make a little bigger transition and achieve so many goals at once for you and your family. It doesn't get any easier over time unless you see a windfall coming because of the number of people that will be competing for limited housing in communities nearing capacity. We have seen how communities get less attainable over time due to tight supply and increasing demand so take the chance now to plan out how you can make your move, set specific goals and work towards them. Wishing and dreaming is fun but it gets very few people here. If you can't move now for some big reason get your foot in the door in a intelligent manner as soon as possible. You will not regret it, moving here is the best decision I have ever made outside of family and spending time in the mountains.

Back to the Steamboat Springs blog main page for more.

Yampa Tailwaters Preserve

Our group was out at the Tailwaters Ranch below Lake Catamount today on snowmobiles checking out the property as we explore our options to proceed. There were ducks on the river, I saw a trout surface, elk tracks every where and I can’t even express how gorgeous it was. We rode around some more for fun feeling lucky to be one of the few that will ever ride there. Then most of the guys left but the trailer wasn’t back yet so I stayed so my friend wouldn’t be hanging out alone since he couldn't risk getting stuck in the deep snow just before dark.

We went back into the back bowl of the ranch and it got even more beautiful as the sun was setting and the Alpenglow hit with the fog coming off of the river and the face shots from 3 feet of fresh champagne powder reflected all on the light. Truly amazing. All this and nearly 2 miles of singular Tailwaters fly-fishing on the Yampa River all year long since this section doesn't freeze.

If you would like to know the inside scoop on Yampa Tailwaters Preserve just give me a call at 970-819-6930 anytime. I know the property in and it's status well.

Back to the Steamboat Springs blog main page for more.

Snow fell at the ski resort on 26 of December’s 31 days

All in all a great month in Steamboat for snow. In typical Steamboat fashion the snow reports on the mountain were very conservative a tradition that I am glad to see continue with Intrawest given the "optimism" expressed in the snow reports at Copper Mountain.

There were 6 thigh to waist deep days in the trees over the last 2weeks on snow reports that ranged from 9-17 inches. Not only the people are real here but the snow reports are too. Clearly a local conspiracy to let the crowds stay along I-70 :)

From the Steamboat Pilot "The December 2007 snow that people in Steamboat Springs have battled and reveled in has earned a top-four ranking based on 99 years of records.

Last month’s snowfall totaled 74.2 inches in town. That number has been surpassed just three times according to records that go back to 1908, he added.

Kent Kirkpatrick of Steam­boat Ski & Resort Corp. reported 9 inches of new snow at the ski area on Monday morning, with another inch falling after 9 a.m. as the skies began to clear. Those 10 inches gave the ski area its third-highest December snowfall: 126 inches.

Snow fell at the ski resort on 26 of December’s 31 days. Ski area spokeswoman Heidi Thomsen cited ski area records that show 165.5 inches of snow fell at mid-mountain in December 1983 and 133.5 inches fell in December 1990. The average December snowfall at mid-mountain is 66.8 inches."

Back to the Steamboat Springs blog main page for more.

First tracks in the Alpenglow

It looks like our snowstorm Saturday night was enough to draw hikers to the top for the first time this year. 18 inches of fresh powder is a pretty good incentive and I commend those that made the pilgrimage for the rest of us to look up at. It isn't clear on the small version of the picture but the tracks just to the right of the middle on Storm Peak South were clearly visible in the evening alpenglow after the clouds broke on Monday.

This is a little over a month later than last year, which was early, but this year has been much snowier overall all with something like 9 storms in the past 2 1/2 weeks. Back to the Steamboat Springs blog main page for more.

Steamboat Springs Real Estate Roundup

Four of us within our firm have been spending a lot of time recently putting together a first class event with Doug Beall - Director of Development for Steamboat, Gerry Engle - Atira group, Jeff Temple, Marabou & Due West Land, David Burden - One Steamboat Place, Jim Cook - Colorado Group Realty and Brent Pearson - Wild Horse Meadows and Resort Ventures West.

Colorado Group Realty is proud to present the inaugural Steamboat Springs Real Estate Roundup and Expo. This event is designed to bring together seasoned experts and provide the public with current knowledge and information regarding the Yampa Valley's dynamic real estate market.

This year's event will feature a panel discussion with a number of leading real estate developers moderated by Kathi Meyer, Steamboat Springs Planning Commissioner. The panel will answer key questions on the minds of local residents and discuss how development projects have been impacted by the recent sales of the Steamboat Ski Area, local legislation and other community objectives

November 08, 2007 · 6:00pm
Location: Steamboat Grand Resort Ballroom

Please contact Laurie Peter, Event Coordinator for more information at 970.875.2917 or laurie@mybrokers.com

Back to the Steamboat Springs blog main page for more.

Video of progress at the Steamboat base area

This article and video is over a week old now but I think you will like it if you are curious how things are progressing at the base. They cover the headwall regrade project and the installation of the Christie Peak Express lift towers. It has snowed 4 times now since this was taken so we seem to be settling in to a good weather pattern for winter. We sure hope that is true. Back to the Steamboat Springs blog main page for more.

"Dig This" in Steamboat Springs

Luckily my 4 year old son Alden doesn’t know about this YET. He is an absolute nut for heavy equipment to the point that the other boys call him Mr. Dump Truck. I think that is cheaper for me to just rent the equipment and use it on one of my projects but this is a cool concept and a great thing to do on a vacation if price is not an issue. I will be curious to see how well it does so drop me a line if you get the chance to go out and dig with them.

STEAMBOAT SPRINGS, Co. – Dig This™ will offer 20 tons of year-round fun in an authentic construction setting with structured full and half-day courses including corporate and custom programming for adults in a safe, fun, supervised environment. Participants will operate brand new full-size Caterpillar hydraulic excavators, track-type bulldozers and skid loaders at individual work sites to construct roads, build dams, design bridge abutments, and dig trenches or wherever their minds take them. Dig This is scheduled to begin operations during the fall 2007.

Dig This’ inspiration came to New Zealand native and Dig This owner and founder Ed Mumm, while he was operating heavy equipment to construct his home in Steamboat Springs, CO. After clearing trees and scrub oak, constructing a road, building a pond, and digging foundations he realized how much fun he was having. He imagined those who don’t have the opportunity to operate excavators and bull dozers may want to relive their childhood sandbox days, this time with life-size equipment.

“Now operating heavy machinery can be about fun. I’m excited to be the first to offer this truly unique alternative recreation activity to the general public”, said Ed Mumm, Owner and Founder of Dig This. “Throttling up a powerful engine and sculpting mounds of earth is very empowering. We’re proud to provide this experience as you test your skills behind the controls of some of the world’s largest earth moving machines at Dig This”.

After an operational and safety orientation, participants will get behind the controls in climate controlled, radio monitored cabs and operate equipment in their individual work area. Half-day sessions are $400.00 and include two to three hours of total operating time on one piece of equipment. Full-day sessions are $750.00; include lunch, and four to six hours of total operating time on two pieces of equipment. All dig sessions conclude with worksite reclamation. Operator certificates will be presented to each participant certifying that they dug it at Dig This.

Dig This also provides an exciting alternative to the corporate training model. “Working with teams of corporate employees, our training staff provides a new and typically unfamiliar venue to bring the challenges of planning, and cooperation to peak performance”, said Chad James, Dig This corporate program director. “From project planning through execution and evaluation, trainees work together to coordinate activities and support each other through successful completion of their project.”

Dig This is located two miles west of downtown Steamboat Springs, CO on 20 acres of leased property on a plateau with 360 degree views of the Continental Divide and Yampa Valley. Shuttle service to the Dig This worksite will run from the mountain ski village and downtown Steamboat Springs. Back to the Steamboat Springs blog main page for more.

For most buyers the Mortgage market is healthy

The widespread notion that the entire mortgage market is in crisis is just plain wrong, say lenders in various parts of the country.
The following is an article from the Washington Post that talks about the overall impact of the mortgage market. It's conclusion is that high quality buyers are unaffected. In Steamboat we are fortunate to have both high quality buyers from a cash and credit standpoint along with limited supply. This along with how many things are working together to improve the experience in Steamboat over the next few years has kept the market here in Steamboat strong. When I talk to the local lenders I know I have found that they are still getting the approvals they need. Most have had 0 to 1 loans fall out since the national issues cropped up.

Give me a call if you you would more insights into this or the current market in Steamboat and the improving fundamentals and demographics that are driving our market. My number is 970-819-6930.

"The majority of mortgage products have been unaffected by troubles in the sub-prime segment. Interest rates for 30-year, fixed-rated loans remain in the low 6 percent range for people with reasonably good, though not necessarily perfect, credit records, according Kenneth R. Harney, managing director of the National Real Estate Development Center and syndicated columnist.

While there is plenty of money to lend, Harney says underwriting standards are more strict than they were a year ago. Jumbo loans, for example, often require two appraisals – one by an appraiser selected by the lender and the other by one working for the investor.

Similarly, FICO credit-score standards generally are higher than a year ago, stated-income mortgages with no verifications are hard to find and lenders are especially wary of excessive "layering of risk" – combining low down payments with marginal credit scores and high debt-to-income ratios – in markets where prices are trending lower.

Source: The Washington Post Writers Group, Kenneth R. Harney (09/29/07)
Back to the Steamboat Springs blog main page for more.

Snow on Storm Mountain this morning

It rained all day yesterday and I awoke to this beautiful sight. As you can see they are making progress in restoring the barn before winter. According to CBS News in Denver Eisenhower Tunnel was closed last night due to a brief but intense snowstorm. Let it snow^3 ... Back to the Steamboat Springs blog main page for more.
250pm update: It looks like it has snowed more during the day and there is now some coverage where the grass is shorter.

Aging of the skier population

Justin over at Ski Blog posted on an article about how the average age of skiers is going up and more people people are wearing helmets. I for one am glad that the average age of skiers is going up for at least one key reason. People seem to be skiing longer and better with age now that I think about it. One of my favorite ski moments is getting dusted on the slopes by someone 20 or more years older than me. It is not an uncommon event here in Steamboat. I am no Olympian but I can get down the hill at a respectable speed and there are a large group of "older" skiers that can drop me without even looking like they are trying. I've even seen some slow down a bit for me and a I quickly tell them to stop that and show me how I need to ski. My new neighbor Pete Wither is a perfect example of this. He don't even break a sweat when he puts me in my place on skis or on a bike.

Back to the Steamboat Springs blog main page for more.

Tradeoffs of living in the Mountains

The Mountain jobs blog has an interesting article about the tradeoffs of living in the mountains. Nearly every single one is a positive for me and my family. I miss great Asian food a little and my wife misses shopping a little but there isn't much else. We don't have to drive out of town for that nearly as often as we did to get our Steamboat fix. In fact many or most tradeoffs are actually pluses for me like being more rural and the lack of some things that would otherwise distract me from being outdoors.

It can be daunting to look at housing prices but you also have to consider how much cheaper it is to hop on your mountain bike to a great trail 1 minute away or taking a hike instead of recreational shopping that can add hundreds to your monthly spending without much real satisfaction. It is all a matter of understanding what is important to you, setting goals, picturing living in the mountains and letting your mind figure out how to make it real. I used to say I would retire here but fortunately I realized well before then that it would be a whole lot better to move here when we could spend our best years here raising family. I wish you the best in your quest to spend more time in Steamboat. Whether it is an all out career change, shift, location neutral work or retirement if the need is there spend some time to put together a plan an you may be surprised what you can do.

Give me a call if you ever want to brainstorm or put a plan together to get here. 970-819-6930. I know I am safe to say that you would like to be here more if you are reading this blog :)

Back to the Steamboat Springs blog main page for more.

Snow On Sand Mountain above Steamboat Lake

Tom Ross of the Steamboat Pilot has a great article that mentions his weather prediction prowess and gives a little history as he is so adept at doing. The reason I think it is great is that he always seems to come up with some obscure bit of history that reminds you what a special place Steamboat Springs is. Most of the time it is because of how great the people are that made Steamboat what it is.

Back to the Steamboat Springs blog main page for more.

Fall has come to Steamboat

There were a couple of hints over the last 2 weeks, colder nights with 3 frosts, more rain and a few turning leaves if you looked but this morning fall hit Steamboat. Entire slopes show signs of changing leaves making fall official at least in my book.

Back to the Steamboat Springs blog main page for more.

Steamboat Base Area public improvements are on track

I can't tell you how many times I get asked if there is any way the base area will be ready for ski season. Fortunately there is little question that the Urban Renewal Authority projects at the base of the Steamboat Ski area are on track for a timely completion and under budget to boot. This isn't a big surprise given how much preparation went into this project and the team that is managing it. There have been quite a few surprises where they have had to look for pipes and utilities that were not where they were supposed to be and plenty more they found that no one had any record of. Given that we are lucky to have a very experienced team lead by Joe Kracum who has done the same sort of thing in Vail. See the story in the Steamboat Pilot here
Back to the Steamboat Springs blog main page for more.

Wildhorse Meadows Trailhead Lodge results

I heard from a good source who was involved in the sale that 71% of the units sold yesterday, 61 out of 86 condos. I would call that a very successful launch given the pricing averaged $904 per sq foot and the most expensive ones on a per sq foot basis went first. They now have almost 2 years to sell the remaining 30% and they are likely to make a push to sell a few more before they go public with the news by calling everyone again like they did on the Range lots.

One Steamboat Place is is also progressing very well through their selection process. They have fewer units but it is taking longer because they give people overnight to decide if they want the time. The conversion rate from reservations to people deciding to proceed with their purchase was over 75%. That is nearly unprecedented even if it comes down as they get further through the list and people can't get the units they wanted. One Steamboat Place is going for between $1,000 and $1,100 per square foot. Both projects are realizing ground breaking prices and bringing higher levels of quality to the market.

These sales have big implications for pricing of both mountain and downtown developments going forward including existing units. I believe that higher quality units will see a particularly strong pull from these new price points. If you are curious how the market is moving, what impact it is likely to have on your property or your goals and what the real drivers are feel free to contact me. My number is 970-819-6930 or email me at the address on this page.

Back to the Steamboat Springs blog main page for more.

Setting lift towers for the new six pack

I watched the heavy lift helicopter up on the mountain this morning prepping for the lift tower placement of our newest lift here in Steamboat. It will be a high-speed detachable model with significantly more capacity than the gondola so the morning 15 minute crunch on holidays will get much shorter this season. It will also allow fast access to the lower mountain cruisers like SeeMe allowing more than one run a day or several runs in an hour lunch break. :)

Back to the Steamboat Springs blog main page for more.

Ski Time Square & Thuderhead project time frame

Word from qualified sources is that the project that will replace Ski Time Square and Thunderhead Lodge on the North Side of Steamboat's base area hopes to enter planning this fall, start demolition of buildings in the Fall of 2008 and begin construction in the Spring of 2009 after ski season.

I have cause to believe that they are working on bringing a "Ritz Carlton Steamboat" or comparable luxury hotel brand for the flagship ski in ski out property. Back to the Steamboat Springs blog main page for more.

Steamboat Valley View Trail

I rode on one of my favorite mountain bike rides in Steamboat (its almost just out my door) Zig Zag to Valley View Trail on Mount Werner with a friend from Boulder last weekend. He put together this trails description that I thought was worth sharing. It includes a GPS plot of the route on a topo map, pictures and a great description of the trail. Check out this version of Valley View Trail too. Cool pictures on that page as fall is giving way to winter. Fall is the best time of the year to ride this trail. I like to go in the evening when the alpenglow streams in through the golden leaves and your tires travel on a path of gold. It is one of the more beautiful times I can think of in a beautiful valley.

If you haven't ridden it before you should also check out the Hot Springs Mad Creek Loop or the Mad Creek to Red Dirt Loop. Back to the Steamboat Springs blog main page for more.

Wild Horse Meadows Gondola Bonded

It looks like there is now a bond ensuring the construction and completion of the new people mover cabriolet gondola from the Meadows parking lot and Wild Horse Meadows to the new base area plaza at One Steamboat Place. This plaza is nearly an acre, wraps around from just south of the current transit center to gondola square, will not have any steps and will be on a snow melt system.

The first condo building at Wild Horse Meadows is about to be formally offered. on July 25th to reservation holders. It is an 86 unit building with the amenities for the whole complex that sites next to the new gondola.

Back to the Steamboat Springs blog main page for more.

Frontier Steamboat flights are getting closer

Steamboat is getting closer to a deal for Year Round flight service from Frontier Airlines. This has been coming together for nearly a year now and I have heard of 2 Frontier pilots that have bought property here in anticipation of this service. Hopefully they are right. The increased competition will be great for the availability and cost of flights for locals and guests year round.

Selected quotes from the Steamboat Pilot:"Such a flight will bring airline competition between Steamboat and Denver, which should benefit pricing and expand connecting options for Yampa Valley residents. It also would continue an unprecedented string of successes for the airport and air service in general.

Frontier officials would only say the next round of announcements is expected to include some Colorado mountain communities. A newspaper in Sun Valley, Idaho — which was vying for Frontier service — reported those communities would be Colorado Springs, Aspen and Steamboat. The flights would be daily on the Q400, a new 70- to 78-seat propjet from Bombardier. Frontier would add the new service sometime this fall

The Frontier service would compete with United, which provides four flights per day on 37-seat turboprops operated by Skywest. United adds a jet flight to DIA during the ski season. Frontier’s competition with United out of the Denver hub has resulted in significant price breaks for travelers on both airlines. Seeing that competition expand into markets like the Yampa Valley would be a win for tourists and locals.

The addition of Frontier service would be on top of what already is expected to be the biggest winter in the airport’s history, with five airlines serving 10 markets and an estimated 175,000 available seats. For the first time, YVRA will have service to all three airports serving the New York metro area. Not that long ago, Yampa Valley Regional Airport was a small, crowded airport with a dirt parking lot and mostly seasonal service. How things have changed. The facility, once second rate, is in a different league thanks to a three-phase expansion that included a new terminal, a new parking system, a new apron to accommodate larger jets, new passenger waiting areas, new ticket counters and new retail stores. As the facility has grown, so has service. With Frontier, YVRA would have year-round service on three airlines serving two markets. For the Full Story in the Steamboat Pilot click here

Back to the Steamboat Springs blog main page for more.

First Snow of the 2007 Steamboat Summer Season?

It is the day before the lifts open for the SUMMMER and we got a couple of inches of snow on top of the mountain. You have to love weather in the mountains. Tomorrow is forecast to be 66 and sunny then into the 70's on Saturday. See you on the slopes...

Back to the Steamboat Springs blog main page for more.

2007 Steamboat Balloon Rodeo at Bald Eagle Lake

The Steamboat Springs Balloon festival is moving to Bald Eagle Lake this year (this picture is from last year). Bald Eagle Lake is south of town a little just past the last gas station on Hwy 40. It is also Steamboat's only private water-ski lake (more here and here) that I am lucky to be a member on. If you click on the link just before this you can see that it will be a beautiful setting for the event. I am looking forward to some spectacular pictures during this years event because the location is much better suited for photography and the Meadows location was not. It was convenient but difficult to find a good angle for pictures given the layout and how the sun came up in relation to that location. I also hope to make a few runs in the water-ski course surrounded by balloons if we can safely keep the lake open for skiing.

Some details from the Steamboat Pilot "One of Steamboat’s more popular events has found a new home at Bald Eagle Lake. The 27th annual Balloon Rodeo will be held July 7 and 8 at a field by the private lake south of Steamboat Springs on the south side of U.S. Highway 40. The lake is a little less than one mile south of the U.S. 40-Walton Creek Road intersection. The early morning event features about 40 hot air balloons flying above the Yampa Valley. Admission is free. Click here for the story in the Steamboat Pilot. Float back to the Steamboat Springs blog main page for more.

Sheraton Steamboat sale is now official

This confirms my post last week that the Sheraton Steamboat sale had closed. The Steamboat Pilot published a front page story by Matt Stensland with official confirmation that the deal has closed and Starwood is the new owner. The final price was $57m for the hotel and the golf course, a number that is about $5-7m below it's value because of how the deal was handled.

I see the completion of the sale as good news because it brings the new owners to the table and it will help the base area improvements progress.

Back to the Steamboat Springs blog main page for more.

Memorial Day Weekend

We just had one of the nicest Memorial Day Weekends in Steamboat I can remember. It was gorgeous all weekend but there were enough different folds in the sky to keep us guessing and only a couple of brief showers. We got the traditional snow shower out of the way last week with 6 inches up top one night.

I had the somewhat rare luxury of a solid weekend with my wife and kids along with a couple of mountain bike rides, some passes water-skiing at the lake I am a member of at the edge of town and dinner with friends two nights. I hope that you had a great weekend wherever you were and can make it out to Steamboat soon. It's beautiful here and the biking has been great. Back to the Steamboat Springs blog main page for more.

Steamboat Sheraton was sold to Starwood

I heard this from credible sources a month or two ago but it is now a done deal. I understand they will make an official announcement soon but they could take their time to put a good story together. It is good to see this wrapping up. The firm that handled this deal was a little to proud of themselves, sometimes bumbling (I am being careful here to comment not on my own experience with them but on more than enough anecdotes from others) and often appeared to be operating in ways that did not optimize value. This resulted in a longer process than it needed to be and lower values realized for their clients than could have otherwise been unlocked. Now that they are out of the way things can proceed and a wonderful new village can come out of the legacy of neglect that the previous owners left behind. They had plenty of cash but preferred to let things deteriorate. Steamboat will be much better off without them.

Back to the Steamboat Springs blog main page for more.

Icing on the Mountain

Every once and a while the people behind the Curse of the Yampa Valley like to remind us that winter will be back and it is never to soon to start thinking about it :) We have been having nearly perfect spring weather the last few weeks and it was time for a little precipitation to keep things green.

Back to the Steamboat Springs blog main page for more.

Lots of plans this summer

My 4 year old son Alden just told me "Daddy I have lots of plans for us this summer". He went on to tell me that we will be riding our bike, hiking with our dog Woody, playing with trucks, going to the water-ski lake, working at our "brand new house" (which is old) and watching ski movies to get ready to ski when it is winter again. Kids are priceless..

Back to the Steamboat Springs blog main page for more.

Happy Easter

I hope that everyone had a great Easter wherever you may be this year. We enjoyed a great day with family and friends. The kids were too cute at the annual Easter Egg hunt at Howelsen Hill Saturday, finding their Easter Baskets this morning and visiting friends. One of Steamboat's many charms is all of the free events that are out there for kids. One is the Easter Egg hunt at Howelsen Hill where the Easter Bunny arrives on the chairlift. The only thing better than being in Steamboat is being in Steamboat with kids. Hop back to the Steamboat Springs blog main page for more.

View from our new house today

We spent some time up at our new house last night enjoying the view and sharing a champagne toast on our deck. We are excited to have some land for the kids to play on, cool neighbors and such a great view of the mountain to enjoy as the seasons and her moods change. We were fortunate to find such a great lot with a $750k fixer upper on it. Wish us luck with the renovations. Gander back to the Steamboat Springs blog main page for more.

Steamboat Springs Fly-fishing

It's not bad living in a place where you can mix in some fly-fishing and skiing dual sport days. Here are a couple or more pictures of my father in-law's recent fishing exploits in the Yampa River. These fish are big enough that even Ted didn't feel the need to extend his arms as far as possible towards the camera to make them look bigger. If it makes you feel any better I was working while Ted caught all of these fish.

If you want to get a few pointers from Ted on how to live so well give me a call. We can point you to some fantastic fly-fishing in the Steamboat Springs area, great guides and give you pointers to get on prime private water. I also have some great articles about fly-fishing around Steamboat if you want to see how good the fishing around here really is. I wouldn't ask if you don't want to become even more pre-occupied with getting back to Steamboat soon. Double haul back to the Steamboat Springs blog main page for more.

Welcome to my Steamboat Blog

I feel fortunate to have this Steamboat Springs Blog featured in the Sunday Steamboat Pilot with the tagline A Quick trip to Steamboat . Matt Stensland, the Pilot's business reporter has been reading this blog for a while now was nice enough to compliment me on it and write a nice story. It was cool to get to meet Matt since I have enjoyed his articles over time. Thank you Matt.

If you are not familiar with what a blog is it is short for web log and is a chronological set of stories or links that someone publishes on the web. Matt and I had an interesting talk about blogs and Steamboat in general. I don't have the journalistic standards to adhere to like a newspaper so I can write about rumors that have some credence or things that are fact but not yet widely known. I can also write about anything that I think is fun and feature my kids at will.

I feel very lucky to have a great family and live here in Steamboat so I like to share that with others. I have only myself and the readers of this blog to reckon with but I try to hold myself to a high standard in providing items of interest and and my insights into things people that love Steamboat care about. Keep reading below, I hope that you enjoy the result.

Back to the Steamboat Springs blog main page for more.

There's Something about Steamboat

It happens to me several times a week, it is usually something simple but every time it happens I feel lucky that we live in Steamboat. I'm not talking about powder days, epic bike rides, pulling a particularly big fish out of the river or any of the countless obvious reasons that we are so fortunate to call Steamboat home. I am talking about the subtle things you notice as part of daily life as a Steamboat Local like:
- how amazingly nice the people that live in or visit Steamboat Springs are
- how your kids are safe here and how many people haven't had a key to their house for years
- what an unreal place it is for kids and how hard the community works to make it that way
- how many parades we have that shut down main street
- how the whole town comes downtown for Halloween and you see everyone you know in one night
- going skiing, biking etc without planning in advance
- going skiing alone and only making 1-2 runs alone
- how easy it is to find someone to get outdoor and play any time of the day/week
- how truly generous people are that call Steamboat home all year or just a week
- how all four seasons overlap here
- how snow storms come in waves, how it warms up before the big storms, how the really big powder days come when snow forecast i