Real Estate Market Update for Steamboat Springs

Living in a resort town like Steamboat I get to meet a lot of interesting people from around the country that are really good at what they do. Some of them are also in real estate like me so it is great to compare notes with them and hear who things are around the country. I'm not calling bottom but I have seen strong signs of the things it takes to have a recovery all over the country from both the national news and agents I trust that really know their markets. Fortunately I am seeing many of the same things here in Steamboat Springs. Steamboat saw the effects of the recession 2-3 years later than the rest of country but seems to be closer to a year or so behind the recovery in many of the markets that our guests and owners come from. Even though we have relatively high levels of inventory there is relatively little room to build significantly more so people are taking this chance to secure their long terms goals and choose from some of the best homes at attractive prices.

We are starting to see more activity here in Steamboat, I have been very busy for about a year helping both buyers and sellers reach their goals and the overall market has started to post volume gains over the last 6 to 8 months. Dollar volume has doubled from year ago levels each of the past 4 months as sellers come closer to market with their list prices. Until about 6 months ago 80 plus % of our listings were priced at the peak levels and sometimes beyond so the few transactions that were happening required significant negotiation to come together. I have been fortunate to be able to help quite a few people find this right values and now the market is coming closer. There are opportunities out there, the key is determining what the pricing should be and reaching a deal that makes sense.

There are many great signs but to very clear I am not yet calling a recovery because there is some distressed property, some excess inventory to be worked through and plenty over overpriced homes. For the next year or two it will be key to understand the market in each segment, neighborhood and even down to the level of what is the situation with each individual property both that you are looking at and ones that are comparable to get the best feel for where pricing is going. Current comps are nice but knowing if there is something coming is very valuable. I have been doing this with good results so call me if you would like to know more about our market or want to see if your goals are within reach.

Speaking of other real estate markets I spent some time with Tania Hosmer from McLean, Virginia last week. McLean, VA is just outside of Washington, DC. She has become a friend over the last few years. Tania is a true professional that has deep market knowledge and really looks out for her client's best interests, two things I personally value. According to Tania's research over half of the market segments in McLean, VA have actually turned into Seller's markets and one is balanced. This is a great insight and the kind of thing that is good to know early before everyone reads it in the paper after it has happened in the market as a whole and prices go up. It was hard for me to believe but Tania has the data to prove it.

To see it for yourself go to Tania's McLean Real Estate blog and her insightful McLean Market Update that breaks down the market by price point and whether that segment is a buyers or sellers market based on sales and current inventory. Click on the link to her chart to see it for yourself. Thanks Tania, I appreciate any chance to learn something and you gave me a few good things.

To contact Jon Wade call 970-819-6930 or send him an email. Jon values your time and will answer your question without a sales pitch. For more of his Steamboat blog click back to the Steamboat Springs blog main page.

March Storm coming to Steamboat this weekend?

Just when we thought Spring conditions were here to stay it appears that we are in the path of a good storm. Substitute your sunglasses for goggles and I'll see you out there. After the pentathlon that is, I am doing 3 of the 5 legs on a team with a friend. Mountain Biking and Skate Skiing should be fun in a storm... but don't get me wrong I never complain about snow.

The Colorado Avalanche Center says: "Expect increasing clouds and mountain snow starting by Thursday evening. A trough of low pressure crosses the state on Friday and winds shift back to northwesterly on Saturday. The Northern and Central Mountains will be favored with this next system, but this looks to be a good snow producer for all mountain locations for the period extending from Thursday night into Saturday night. Northwest flow persists for the remainder of the weekend."

Powderchaser Steve from www.powderchasers.com has issued a powder alert saying "Heavy snow will begin in northern Colorado on Friday with the best shot of a super deep day on Saturday."

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

WSJ: Luxury Real Estate Market is coming back to life

Real Estate volumes in Steamboat have doubled over the last three months that data is available from the previous year and I personally have seen strong buyer interest over about the last year as people look and often act on the chance to secure the perfect home in Steamboat. People still want to spend at least as much time here and want to bring their families together either as they see the last few years with kids at home or want to get as much time as possible with their grandchildren, others just want to get here for the recreation and a healthier lifestyle.

Prices can be 20-40% lower depending on the property and some of the best are available at these prices instead of choosing from slim inventory like was the case in 2007. It's not as easy as just comparing current and previous pricing though since the value in any particular property may still be below even a substantial discount given pricing in 2007 may have been beyond value and it really depends who owns a particular property and it's comps. You really have to know the local landscape in detail but if you do some opportunities will likely reveal themselves.

I am fortunate to have had a busy year already with multiple clients securing luxury properties including my largest single family property transaction to date. It was one of the best properties available quality and location wise and sold for 43% off original list, about $1.5m less than an offer the sellers had previously rejected. Both a large discount and a great value without considering that a lot that would be very hard to sell in this market was included as a trade for a very good price that I wouldn't have been able to get in the open market. As our market consolidates there will be more opportunities for deals like this. I have several in mind and a great set of friends that are actively looking right now. Give me a call at 970-819-6930 if you are curious to know more.

I've included some quotes from the article here: " At long last, the market for luxury real estate is coming back to life. Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward.

In Greenwich, Conn., realty brokers say, the final months of 2009 were almost record-setters for sales volume, as two years of pent-up demand was unleashed. Even the megadeal is back. In Beverly Hills, film producer Jeffrey Katzenberg just plunked down $35 million for an 8,700-square-foot home on six acres.

There's nothing like a stabilized economy and a huge rebound in stocks to send folks looking for the perfect manse. Prices are way down–40% off the peak in some locations. Seemingly at or near bottom, they are starting to attract the first wave of bargain hunters–and not just families in need of R&R. Hard-nosed investors also are on the prowl, says Jan Reuter, head of residential real estate at U.S. Trust Bank of America Private Wealth Management: "We've seen an uptick in buying in just the last couple of months."

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

Warren Buffett says housing woes to end in about a year

It's nice to see Warren weigh in with some positive comments on the housing market. He is a pretty careful guy so he wouldn't say this lightly. We are seeing some low interest rates combined with pretty good deals starting to combine for some compelling deals.

If you would like to know more about what is going on in Steamboat give me a call at 970-819-6930.

Buffett Says Housing Woes to Ease Next Year, Barring Explosions

Feb. 28 (Bloomberg) -- Billionaire Warren Buffet said the U.S. residential real estate slump will end by about 2011, predicting that’s how long it will take demand for homes to catch up with the supply.

“Within a year or so, residential housing problems should largely be behind us,” Buffett wrote yesterday in his annual letter to the shareholders of Berkshire Hathaway“Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.

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

Skiing Fresh Powder on Valentines Day

Steamboat had a great weekend with the snow on the mountain adding up to over a foot. The back-country saw even more snow over the weekend and we skied over 2 feet of fresh snow on Buff pass on Valentines Day. With all the fresh snow, blue skies and picturesque scenery, it was a fantastic day spent with Wendy and a few friends!





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

One Steamboat Place's 2010 Olympics Celebration!

One Steamboat Place presents 2010 Olympics coverage live on a JumboTron at the One Steamboat Place Plaza from February 12 - 28. Join them for FREE screenings every day of the Winter Games, cheer for Steamboat's Olympians and celebrate the opening of One Steamboat Place!

For more information on One Steamboat Place visit: http://steamboathomesblog.com/one-steamboat-place-edgemont-and-trailhead-lodge-compared/

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

Steamboat Winter Carnival Video

Here is a some great video from Good Morning America of the the Steamboat Winter Carnival. There are not many places in the world that will shut down a highway for 2 days and cover it with snow so the whole town can play in the streets. For more click back to the Steamboat Springs blog main page.

Steamboat Olympians in 2010

Steamboat Springs has the uncanny ability to grow and trains Olympic Athletes. If you want to go the the Olympics it really helps to have been born in Steamboat but if you can't history shows that is it a very good idea to move here to train. It became official today that Steamboat Springs is sending 17 Athletes to 2010 Winter Olympics that will compete in Five Disciplines & For Four Countries at the Winter Games.

From the Steamboat Springs Winter Sports Club:
STEAMBOAT SPRINGS, Colorado-February 2, 2010-Seventeen athletes with ties to the Steamboat Springs Winter Sports Club and Steamboat-Ski Town, U.S.A. including Todd Lodwick, five-time Olympian and World Champion; Johnny Spillane, four-time Olympian and America’s first World Champion in Nordic Combined; and Bill Demong, four-time Olympian and World Champion, will represent their respective countries at the upcoming 2010 Winter Games.

“Steamboat has a rich tradition in the snow sports disciplines--Alpine, Nordic, Jumping, Freestyle and Snowboarding--and an Olympic heritage that dates back nearly 80 years,” said Rick DeVos, executive director of the Steamboat Springs Winter Sports Club. “These athletes and coaches will represent four different countries and carry on an Olympic spirit and community heritage that now spans 17 Winter Games.”

Steamboat is known around the globe simply as Ski Town, U.S.A. and has produced more winter Olympians than any other town in North America, now a record 84 and counting. Including the 2010 Games, Steamboat’s Olympians have represented eight different countries, made 148 Olympic appearances during 17 Winter Games. The following 2010
Olympians are currently training or have trained with the Steamboat Springs Winter Sports Club and will compete in the upcoming Winter Games in Canada.

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

2010 Steamboat Olympians - quick bios

2010 Olympians with Ties to Steamboat Springs Winter Sports Club

CAROLINE CALVÉ, CANADA, ALPINE SNOWBOARD: First-time Olympian and SSWSC athlete for the past few years, Caroline Calvé, competed in two World Cups, with a top finish of 10th in parallel slalom. A World Cup silver medalist, she has six top-10 finishes on World Cup circuit and captured 21 Nor-Am Cup medals.

BRETT CAMEROTA, USA, COMBINED (2006): Park City resident, Brett Camerota, who trained with SSWSC for a year, has been having a consistent season leading up to Vancouver. He's had a top 20 finish and several top 35 finishes in the 2010 World Cup tour. In his young career, he's gone on to compete in the 2006 Olympics and three Junior World Championships.

BILL DEMONG, USA, COMBINED (1998, 2002, 2006): Demong was literally unstoppable throughout the 2009 season as he amassed an astounding 10 World Cup podium finishes for third in the overall standings and took his medal count up a notch when he won gold and bronze at 09 World Championships. Demong has put forth a stellar Vancouver Bound effort with a World Cup win and a fourth place finish.

PATRICK DENEEN, USA, MOGULS: The newest full-time member of the SSWSC (12/2009), Deneen (09 World Champion) heads into his first Olympics under the watchful eye of SSWSC coach Timmy Meagher. He tallied one more top five and two top 10 finishes in his season long campaign as well as secured his Olympic spot right here in Ski Town, U.S.A.

TAYLOR FLETCHER, USA, COMBINED: Born in Steamboat Springs, CO, Fletcher grew up skiing and competing with the SSWSC until named to the U.S. Ski Team. Fletcher started the season off solid on the Continental Cup circuit before getting called up to the big leagues. Since competing on the World Cup, he has made an impact, landing a top 30 finish and three other top 35 finishes.

MICHELLE GORGONE, USA, ALPINE SNOWBOARD (2006): Lowell Whiteman class of 2001 & multi-year SSWSC athlete, Michelle Gorgone burned her way through the junior ranks scoring five Junior World Championship Teams ('98, '99, '01, '02, '03) before making the jump to the World Cup and the 2006 Olympic Team. She hopes to beat her success in 2010 as she makes a bid on her second Olympic team.

TYLER JEWELL, USA, ALPINE SNOWBOARD (2006): The untraditional athlete, Tyler gave up snowboarding in the late Nineties in favor of an education degree from Boston College. He picked it back up in an effort to make the '02 Olympic Team. Tyler didn't make the '02 squad, but continued competing with his eyes set on the '06 Olympic run where he became the only man to represent the U.S. in alpine racing. This winter, Jewell will make his second appearance at the Winter Games.

ELLIE KOYANDER, GREAT BRITIAN, MOGULS: A new SSWSC athlete and coached Timmy Meagher, Ellie Koyander is one of the youngest members selected for Team GB. Currently competing on the FIS World Cup Freestyle circuit, Ellie has been awarded her place after being one of the elite top 30 athletes in the world who achieved the International Olympic Committee’s qualifying criteria. She is recognised by the BOA as a contender for the 2010 Olympics, and as a medal prospect for Sochi 2014.

JANA LINDSEY, USA, AERIALS, (2006): A multi-year SSWSC member, Jana Lindsey had one of the best seasons of her career when she increased the degree of difficulty in her competition moves, resulting in a career best fifth-place finish at the World Championships in Japan. She put forth a solid effort in hopes of winning an Olympic Bid earlier this season, just missing the podium in China. Lindsey stayed strong adding two more top 15 finishes to her resume.

TODD LODWICK, USA, COMBINED (1994, 1998, 2002, 2006): After a retirement from the sport, Lodwick returned in 2009 to become a two-time World Champion. Born in Steamboat springs, Todd Lodwick redefined the idea of U.S. success in nordic combined right from his first international meet. Lodwick started off the 2010 Olympic campaign with a bang, winning two Continental Cups and added two World Cup podiums to his resume. “If you believe it's possible, then anything is possible." Lodwick plans to take that attitude with him as he works toward the 2010 Olympics.

ADAM MCLEISH, GREAT BRITAIN, ALPINE SNOWBOARD: Adam McLeish will compete in snowboard parallel giant slalom at the Vancouver 2010 Olympic Winter Games, his first Olympics. McLeish comes from British roots, but grew up in Canada. He has been skiing since he was three years old; competing to a high level, but only took to snowboarding when he was 20. But once he had tried it, there was no going back and McLeish set his sights on competing at World Cup, and then Olympic, level.

MICHAEL MORSE, USA, MOGULS: Michael Morse compiled a solid set of results with sights on winning an Olympic Bid to Vancouver. He posted one top five in Lake Placid, NY and three top 10 finishes, creating a hopeful resume. According to coaches he should be able to produce more of those results this winter as he puts his focus on working on speed and perfecting his current jumps in order to push the competition in Vancouver.

JOHANNA SHAW, AUSTRALIA, ALPINE SNOWBOARD (2006): Two-time Olympian and long-time SSWSC athlete, Johanna Shaw, came of age as one of the world’s elite alpine snowboarders during the 2008/09 season, lifting her ranking to 10th on the World Cup standings. Johanna first came to the attention of the Australian public at the 2006 Olympics, where she finished 29th in the Parallel Giant Slalom.

CALLAN CHYTHLOOK SIFSOF, USA, SNOWBOARDCROSS: Raised in Bristol Bay, Callan Chythlook-Sifsof is a Yupik/Inupiaq Eskimo, who after earning a spot on the U.S. C Team in '06, jumped directly to the A Team in '07 after winning the U.S. Snowboardcross Championships and taking third in the first World Cup of her career. Chythlook-Sifsof, coached by SSWSC Thedo Remmelink, is looking strong and poised to be one of the tough competitors
on the World Cup SBX circuit as well as at the 2010 Olympics.

JOHNNY SPILLANE, USA, COMBINED (1998, 2002, 2006): Johnny Spillane grew up two blocks from Steamboat's Howelsen Hill and fell in love with ski jumping. He was part of a Junior World Championships gold-medal team and became the first American nordic skier to win a gold medal at the Olympics or World Championships in 2003. Aiming for his fourth Olympics, Spillane's Vancouver journey has been nothing less than impressive, tallying a World Cup win and two fourth place finishes.

RYAN ST. ONGE, USA, AERIALS, (2006): Lowell Whiteman Class of 2001 and three-year SSWSC member, Ryan St. Onge - who made the U.S. Ski Team at 14 - has taken things one step, one flip, one turn, one World Championships medal and one World Cup and U.S. championships victory at a time. He secured his first trip to the Olympic at Howelsen Hill in 2006. St. Onge, a crowd favorite, has been putting down a solid season as the Vancouver Games
approach. He's posted two top 20 results with sights set high for February.

KIMIKO ZAKRESKI, CANADA, ALPINE SNOWBOARD: First-time Olympian and SSWSC athlete for the past few years, Kimiko Zakreski, is a World Cup silver and bronze medalist and three-time gold medalist on Nor-Am Cup circuit, with 17 medals overall. She also holds three FIS race medals, including one gold; a National Championship bronze medal; as well as a medalist on the Continental Cup, Europa Cup and South American Cup circuits.

For more click back to the Steamboat Springs blog main page or click on the Steamboat Olympian label below.

2010 Steamboat Olympians

Here is the now official list of 2010 Winter Olympians that were born or have trained in Steamboat Springs. Steamboat is a great place to grow up but I think the following list will show you it is one of the best places in the World to be if you want to get really good at skiing. There is something about our local culture that makes it natural to become a great skier, I'm sure it has nothing to do with the fact that is nothing special to run into an Olympic athlete around town and realize that if they can why can't you?

2010 Olympians with Steamboat Springs Winter Sports Club Ties:
(name, country, discipline, past Olympics)

Caroline Calve, CAN, Alpine Snowboard
Brett Camerota, USA, Combined (2006)
Bill Demong, USA, Combined (1998, 2002, 2006)
Patrick Deneen, USA, Moguls
Taylor Fletcher, USA, Combined
Michelle Gorgone, USA, Alpine Snowboard (2006)
Tyler Jewell, USA, Alpine Snowboard (2006)
Ellie Koyander, GB, Moguls
Jana Lindsey, USA, Aerials, (2006)
Todd Lodwick, USA, Combined (1994, 1998, 2002, 2006)
Adam McLeish, GB, Alpine Snowboard
Michael Morse, USA, Moguls
Johanna Shaw, AUS, Alpine Snowboard (2006)
Callan Chythlook Sifsof, USA, Snowboard Cross
Johnny Spillane, USA, Combined (1998, 2002, 2006)
Ryan St. Onge, USA, Aerials, (2006)
Kimiko Zakreski, CAN, Alpine Snowboard

"It’s not one entity or organization, but the entire community that openly embraces these athletes and plays a key role in establishing the core foundation for Ski Town, U.S.A.,” continued DeVos. “The spirit to strive for greatness and the unwavering support of athletes of all ability levels, allowing them to fulfill their dreams, whether that’s just getting started in the sport or competing on the international stage, is truly what makes this community unique and set Steamboat apart from any other place in the world.”

Steamboat’s tradition dates back to the 1932 Olympics in Lake Placid, NY, at which the Valley’s first Olympian, John Steele, placed 15th in Nordic jumping. Nelson Carmichael became the first Steamboat Olympian to win an Olympic medal, a bronze in moguls at the 1992 Games. During the 1998 Nagano Games, Steamboat Olympian Shannon Dunn-Downing became the first American woman to win a medal in snowboarding. And in 2002, Travis Mayer rocketed onto
the scene and brought home the silver medal in mogul skiing.

Steamboat is also home to the Steamboat Springs Winter Sports Club, one of the country’s oldest and most successful clubs, as well as Howelsen Hill, which dates back to 1914 and is the oldest continuous operating ski area in Colorado. Steamboat is not only considered the birthplace of freestyle skiing in the hotdog days of the 1970s, but also Nordic jumping in Colorado going way back to the early 1900s.

For more click back to the Steamboat Springs blog main page or click the Steamboat Olympians label below.

Steamboat First Time Homebuyer Tax Credit

If you are considering using the first time homebuyer's tax credit It's time to start thinking about if this is a good opportunity for you. Properties must be under contract by April 30, 2010 and close by June 30th, 2010 so I would recommend starting to get a feel for what you like and the market by February or March and looking seriously by March or the beginning of April. It is also a good time to start getting your info together and talking to a great mortgage broker. I can recommend a couple if you would like.

The tax credits are a tax credit not a deduction. It is important to consider that a tax credit is a dollar for dollar tax reduction, rather than a reduction in taxable income that would only save you a percentage of your deduction based on the tax rate. A first time homebuyer is defined as a person that hasn’t owned a home in the last three years.

For example, on the $8,000 first time homebuyer tax credit, if you owe $1,000 in taxes, you will receive a refund of $7,000. To qualify for either the first time homebuyer tax credit or the move up credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Please be sure that you consult your tax consultant to be sure that you qualify for the credit.

As always, please call me with any questions 970-819-6930

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

Had an amazing day Backcountry Skiing

Steamboat is truly a wonderland. It has been 2 weeks since the last storm and we had 6-12 inches of perfect powdered sugar snow. I am liking my new training program and having such a compelling goal in April has me motivated.

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

Gorgeous Bluebird Powder Day In Steamboat

Credit "Dam Skier TGR Forums - Steamboat 12-31-09"

And today we have one thing in common, we are working! No complaints but it would be fun to sneak up for a couple of hours as the snow has been great on the mountain. See the picture above and here is a page with some great Steamboat Powder shots taken on New Years Eve 2009.

I try to be a cool boss and sent my assistant up to ski and video some with my new helmet cam so the rest of us can see what it was like. I will post the video if it turns out and am working on a fun new site called Steamboat Videos where you will be able to share in some of our Steamboat Adventures. It's just a shell right now but we will "work" diligently to allow you to make a quick visit to Steamboat anytime you have a couple of minutes in front of your computer.

Don't expect anything to professional but they will be fun clips of different Steamboat adventures and hopefully a good excuse for me to sneak out for an hour or so on days like this ...

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

Skiing on Waves

Here is a very cool video from Salomon FreeskiTV at least if you are a dedicated skier and water-skier like me. Cody Townsend and Mike Douglas get out with Alpine boots and bindings tow in with a jet ski and ski big waves. In case you wonder ski boots float in salt water. Click here to see the Skiing on waves video The first minute is a little slow so skip in some.

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

Steamboat: Weather Channel Epic Conditions

Here is a great video from the Weather Channel Epic Conditions series that explains part of why Steamboat gets such great snow. It combines some nice ski video and is a must see for nearly anyone that loves Steamboat. I think that you will enjoy it and may learn a few things in the process. It is a little dramatic saying things like "It Strikes Fear in nearly anyone that comes here. Click here to see the Steamboat Epic Conditions Video

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

Happy New Years Steamboat!

I hope that you and yours had a very Happy New Years! 2009 was a challenging year in many ways but these are the times that bring out the best in good people and I have been fortunate to witness many good instances of that. I feel closer to my family and friends. Doing business required a lot of thought, hard work, creativity and attention to all aspects of each opportunity. In the same way it was extraordinary because it let us grow and show who we are as people and a community in tough times. I am lucky to have an incredible family along with a group of friends that is second to none.

As I think about my family I can truly say I feel lucky everyday. Many thanks to my parents, grandparents and siblings that made me who I am to my incredible wife and kids that inspire me to my awesome outlaws who have taught me so much.

To all my friends that I get to enjoy Steamboat with, life in general and who have given me such great advice I am truly grateful. While my schedule doesn't allow me to be out having fun most days I appreciate all of you that call to get me out on the bike, skis, river, trails, ice rink and so many more fun places.

While I don't look back and say wow that was a great year the numbers were and it is in great part thanks to friends that trusted me to navigate this market for them and referred their friends to do the same. That makes up 80 plus % of my business. It has been fun to work at every level and property type in the market from several first time buyers to helping a good friend buy Slopeside Grill to a large mix of luxury properties. I am grateful so many people place their trust in me and I work hard to make sure that is a good idea.

If I have one business value that never changes it is take care of others and I won't have to worry about myself. This came from my grandfather when I was 5, it is sometimes expensive in the short term in missed opportunity from saying it is not the time yet but I have no doubt it is what made the great business aspects of 2009 possible not to mention the value of truly enjoying the friends I am so fortunate to work with everyday. It is very satisfying to to not only know that this is how I want to be but see others place value in this approach. It is nice to live in a place where others see the greater good. Heartfelt thanks to all of you!

In 2009 I was able to recognize the fundamental changes in my business and what it takes to help people navigate these changes. It has been a year of much thought and learning. I also increased my dedication to making Steamboat great by being even more active in the Boards of the Urban Renewal Authority that is revitalizing the base area, the Steamboat Chamber of Commerce which helps Steamboat stay strong, contribute to various causes that help our communities and help jump start the Steamboat Walk of the Olympians to name some of few of the biggest efforts. I even got to sponsor half of Santa's visits to downtown Steamboat this year when funding came up short. I am fortunate to work with a lot of great people in each of these efforts.

2009 brought many things business wise that make me feel great about the future. I was able to be successful in a difficult year, grow my market share, increase the quality of my network significantly, made a very active effort to learn more and peel back the layers to really understand what is going on, was humbled to get a lot of calls asking for insights from many leaders of our community, bankers, appraisers etc and usually knew what they wanted to know, Learned from some of the best on a national level that share my philosophy, really brought together my ideas on how to do this business right and have started to implement them. I hired a great guy to help implement many of my ideas, am looking for a great assistant, distilled all of my ideas so I can put together a winning strategy on the web and so many more things. There was a significant flight to quality this year in both properties and who people chose to work with. I saw this happening in several ways but was humbled to have several people point this out.

I am very optimistic for 2010. There are many positive signs that we are working through the problems both nationally and locally, I have been busy for 9 months and see more people starting to get there, people want to be in Steamboat to spend quality time with those that matter to them and have the means to do so, volumes are up significantly this fall, buyers and sellers are getting closer, there is an opportunity to get the best properties as good prices, parts of the market have fully recovered and I am fortunate to have a significant group of people I am actively working with to buy and sell quality properties.

I wish all of you a great year in 2010. Thank you for everything.

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

$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.

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

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.

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

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.


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

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.

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

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.

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

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.

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

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.

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

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!

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

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.”


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

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.

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

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.