Monday, December 24, 2007

Why & Who - Steamboat Property Purchases

Why and Who - Steamboat Property Purchases:
Intrawest’s $265 million March purchase of Steamboat Ski Area.

The $53.9 million purchase of Thunderhead Lodge and Ski Time Square by Cafritz Investments.

The acquistition of the Mary Brown Property on the West end of town by Steamboat 700, LLC - there may be as many as 2000 homes built.

Demand for real estate is high in resort communities - who wouldn't want to live here?

Developers have made a lot of the high dollar purchases for 2007, but baby boomers compile a majority of the single purchases.

Baby boomers are the primary contributors to Ski Town property purchases, as they reach retirement age. They are purchasing primary homes, second homes, and investment properties.

Baby Boomers demand for vacation properties is not expected to peak until at least 2013.