$15m in closings gets things started at One Steamboat Place

The closings have begun in One Steamboat Place with $15.25M so far. One Steamboat Place represents the first of the the new Ski In Ski Out developments to begin closing and are a good sign for our market. One Steamboat Place and Edgemont represent the highest quality condos Steamboat has seen to date and will bring a new level of owner / guest experience to Steamboat. One Steamboat Place brings a location, quality and experience advantage to the table that we haven't seen yet with it's full service resort amenities, club and spa facilities.

Not to sound like their PR department but I can objectively say that they have done a fantastic job extending their experience before closing and developed a great relationship with their clients. I am sure that it is more difficult for some to close with the changes in the financial markets since these went under contract but I have only talked to one that doesn't want to close which is different than I have seen in Wild Horse. It will be interesting to see how things play out but I feel that buyers in One Steamboat Place will get a superior experience, an unparalleled experience, a good value and ultimately the best values of all more time spent in Steamboat with their families and friends. Steamboat Pilot Article

Give me a call at 970-819-6930 if you would like some more specific insights on One Steamboat Place or the market in general. I am somewhat unique in that I call these as I see them so I am not saying that Steamboat has recovered yet but I am seeing people that are willing to buy for quality and time with their families. I currently see One Steamboat Place and soon Edgemont as tow developments that will have good success in completing their contracted sales because of the quality they are delivering.

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Thought you might like to see how things look in Steamboat right now... I am looking forward to skiing in the morning with Alden on opening day.

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Santa for Christmas in Downtown Steamboat

I was fortunate to have the chance to sponsor half of the cost to bring Santa to downtown Steamboat Springs for 5 different events this holiday season. The dates and times are in the picture above. I thought it was a great chance to give back and help make Christmas special to the kids after a successful year in a tough environment.

If you haven't had a chance to make it to Downtown Steamboat over the holiday season these events are a great chance to have fun, share some holiday cheer and see a lot of friends all at once. I hope to see you down there.


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Your Chance to be on HGTV!

Making an Extreme change to move to Steamboat?
Maybe A NYC Loft to a Steamboat Ranch…what is your story.

We are looking for a fun family or couple who are moving to live their dreams in Steamboat for a new show on HGTV. The filming will start from the beginning, documenting your decision to move, as you explore the town of Steamboat, your search for the perfect home, and settling into your new lifestyle as a resident of Steamboat Springs, Colorado.

We are looking for a great family who is excited about the idea of changing their lifestyle to enjoy spending their afternoons skiing through fresh snow with their family instead of sitting in the office.
If this sounds like you or you think your family fits this we would love to hear from you. For more information about becoming a part of this unique HGTV experience, contact Jon at Jon@mybrokers.com or call 970-819-6390.

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Steamboat First Time Homebuyers Tax Credit, Repeat Buyers too

You may have heard that the $8,000 housing tax credit for First Time Buyers has been extended but they also added a repeat buyer's credit of $6,500. For more info you can go to http://www.federalhousingtaxcredit.com/ . If you would like to know what other state and local programs are available in Steamboat, more about the market or just ask some questions feel free to give me a call at 970-819-6930. Click the following link for more Steamboat First Time Buyer tips.

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First Time Buyer advice from the Wall Street Journal

Here are the key points from an article I saw today. It is a bit simpler to me. I would say that the reasons to start sooner than later are not only that you have a better chance of finding a good fit for your needs but it takes longer now to get a loan approved, interest rates are very low but are likely to increase as the recovery progresses and federal borrowing increases, and there will likely be a bit of a rush on what is left in the spring so you will have more negotiating power now to increase your savings. I have worked with several first time buyers this year and would also say it is important to work with a lender that knows the local and state programs that can increase your savings and make it more likely you will qualify. There are some good programs out there that you may not know about.

Please let me know if you would like to know more about buying your first home in Steamboat with the $8,000 credit or the new programs available to repeat buyers that include a $6,500 credit. I know the process and the lenders with the best programs for first time buyers.

The Wall Street Journal recommends that First time Buyers act soon

November 20, 2009

Tips for buyers Interested in buying a home and claiming the home-buyer tax credit? Below are five tips:

1. Don’t procrastinate search now. Getting an early start will give you a better chance of finding the right house before the credit deadline.

2. Don’t count on another extension. The credit won’t be available forever. If you want to take advantage, be sure to make that spring deadline.

3. Mind the interest rates. Mortgage interest rates are low right now, but will likely rise next year.

4. Communicate with your lender. Throughout the process, make sure you’re communicating with your lender regularly; if there’s a piece of documentation you’re asked for, get it turned in as soon as possible.

5. Don’t take shortcuts. Don’t forgo any of the steps you would normally take just to make the tax-credit deadline. Make sure the house is a good fit for your needs and get a home inspection.

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First Closing at One Steamboat Place is done

One of the best Penthouse condos in One Steamboat Place closed today for well north of $4 million. One Steamboat Place's pricing is a good relative comp especially when you consider that many Wild Horse condos further from the mountain are currently closing for within 10% of One Steamboat Place pricing. This is an interesting comparison because the location, quality and experience is on a whole different level at One Steamboat Place. That said price point wise the units in Wild Horse are considerably less expensive since they are smaller than the smallest unit at One Steamboat Place. It's great to see things getting closed in the new buildings at the base.

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Slopeside Photo Contest, Win Slopeside Gift Certificates

We are putting together a new website for our good friends at Slopeside Grill and need some great pictures. We would love to see some photos of you enjoying apres-ski, the icebar, playing cornhole with friends or just hanging out with your family!

Our panel of esteemed judges will pick the best pictures and award the top 2 submissions with a $100 Slopeside gift certificate each! What a better way to enjoy skiing with a few meals and drinks on us. $50 gift certificates will be awarded for 3rd & 4th place photos!

Pictures with higher resolution, people having fun and views will increase your chances of winning! But please submit any photos you have, it would be a great help to have a large array of photos to work with!

Please send all photos to slopesidegrill@gmail.com, by Wednesday November 25th!

The contest has been extended until December 1st! So if you don't have any pictures stop by Slopeside and take some new ones! Winners will be notified via email. Enjoy your first après ski with a meal and drinks on us!

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More on the Sale of Copper Mountain - Should help with Intrawest Debt Refinance

On the surface this seems like good news for Intrawest and thus Steamboat. Depending on the purchase price this should make it easier for Fortress to re-finance the debt they took on to purchase Intrawest.

From the Summit Daily News:
SUMMIT COUNTY — Pending approval from the U.S. Forest Service and federal regulators, Copper Mountain will be sold to Powdr Corp in the next few weeks.

Intrawest officials announced what they called a definitive deal Tuesday morning, ending months of speculation on the sale of Intrawest's interests at Copper Mountain. The sale is expected to close in December. Intrawest, the Vancouver-based resort and real estate development firm, ran into financial difficulties about a year ago as the real estate market deflated. Since then, financial analysts have said that the company might need to sell some of its assets to raise the cash needed to refinance loans.

According to a press release from Intrawest, business will proceed as usual at Copper this winter. All multi-mountain pass products covering Copper, Steamboat and Winter Park will be honored, as will all existing reservations. Powdr Corp is based in Park City, Utah. The company owns and operates seven resorts: Park City Mountain Resort in Park City, Utah, Killington Resort and Pico Resort in Killington, Vermont, Mt. Bachelor in Bend, Oregon, Boreal Resort and Soda Springs Resort, both in Donner Summit, California, and Las Vegas Ski and Snowboard Resort outside of Las Vegas, Nevada.

In a letter to Copper property owners, Copper president and chief operating officer Gary Rodgers said the sale will be a positive for the resort and the wider community.

“We believe this transaction represents a positive outcome for Copper Mountain and it will provide numerous benefits to Summit County,” Rodgers wrote. “Powdr Corp operates several ski resorts throughout North America and Copper will be an important addition to their resort family and their first resort property in Colorado.”


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Copper Mountain to be sold to Park City owner in December 2009

Here is some big news that just became official. Intrawest, who also owns Steamboat, has reached a deal to sell Copper Mountain to Powdr Corp the owner of Park City and several other ski area. I have talked to several credible people over the last few months that said Copper was on the market and then a deal was in process so it is good to see it announced and hopefully completed on schedule. See the press release below.

VANCOUVER and PARK CITY, UT, Nov. 17 /PRNewswire/ - Intrawest and Powdr Corp today announced they have entered into a definitive purchase agreement to sell Intrawest's interests in Copper Mountain to Powdr Corp. The transaction is anticipated to close in December 2009 and the agreement is subject to regulatory approvals including the issuance of a U.S. Forest Service special-use permit to Powdr Corp.

This winter season it is business as usual at Copper Mountain. Once the transaction is finalized Intrawest and Powdr Corp have committed to work together to ensure that all of the multi-mountain season pass products, vacation reservations and joint marketing initiatives will be honored for the 2009-2010 winter season. This includes the Rocky Mountain Super Pass suite of products that provide skiers and riders with access to Copper Mountain, Steamboat Resort and Winter Park Resort.

Powdr Corp is one of the leading mountain resort owners and operators in the United States. Headquartered in Park City, Utah, Powdr Corp currently owns and operates seven ski and snowboard resorts including Park City Mountain Resort in Park City, Utah, Killington Resort and Pico Resort in Killington, Vermont, Mt. Bachelor in Bend, Oregon, Boreal Resort and Soda Springs Resort, both in Donner Summit, California, and Las Vegas Ski and Snowboard Resort outside of Las Vegas, Nevada. Powdr Corp also operates Gorgoza Park, a lift-served tubing park, in Park City, Utah.

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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.

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