Saturday, January 5, 2008

Who Buys Property in Steamboat?

According to County Mailing addresses for all the sales in the City of Steamboat Springs since the beginning of 2007 - September 2007, the majority of Buyers were from right here in Steamboat (503) and the next majority of Buyers were from Colorado (141), but outside of the City of Steamboat Springs.

The other major city Buyers are:
503 - Steamboat Residence
141 - Colorado
75 Washington, DC;
41 Texas;
36 California;
36 Florida;
26 Illinois;
19 Minnesota;
17 New York;
16 Arizona;
13 Wisconsin;
11 Missouri;
10 New Jersey.

Now keep in mind this is only for the City of Steamboat Springs. We have many other wonderful areas I can represent like Oak Creek, Hayden, Stagecoach, Clark, Hahns Peak, Steamboat Lake, Milner and more....

The bottom line is right now Steamboat Property is selling like crazy. Why? Several reason in my humble opinion, but look at our direct flights. It is easier to get here then almost any other major ski area in Colorado. The direct flights which run all winter to Hayden, which is a simple 30 minute drive, make us a very desirable destination ski location.

Baby Boomers and others are recognizing that our property values are still way below places like Vail, Telluride, and Aspen. We are pretty close in pricing to the Summit areas. Steamboat is a true Western town that takes much pride in our history and maintaining that dignity. When guests come to Steamboat they are welcomed, feel safe, and realize as my husband and I did 9 years ago, that this is the place to raise our kids. Where we live is more than just the house we purchased. It s a lifestyle. Steamboat places so much value in heritage that for Winter Carnival (February 6th - 1oth, 2008) we truck in snow and block off main street to pull kids on skis behind horses and men on shovels. We have a lot of fun here.

The Steamboat ski area was purchased by Intrawest (Fortress) in 2007. People asked what does that mean. A developer friend of mine explained it quite well when he said, "I'll tell you what that means, our houses just raised $100,000.00 in value." Intrawest is notorious for acquiring destination resorts, adding extensive projects that add value to the guests and locals ski experience, and brings in a lot of new development. That sure makes sense to me. We have many new projects in the downtown area, mountain area, and even West of town. Could it be a coincidence? Could be, but with the building that is going on now, I would venture to guess, prices are going to continue to rise for a couple of years. So I believe the purchase of the ski area has greatly added to the development of Steamboat and its potential growth and value. Of course I don't have a crystal ball, but land is getting scarce and people want to live close to the mountain and downtown. The once $200,000.00 places are now over $350,000.00. I have clients say, "I wish I would have bought here 5 years ago." I say buy now, so you are not with the people five years from now just moving to town who say, "I wish I would have bought five years ago". One thing that is going to benefit all of us who live here and you who are thinking about moving to town is the new City Council. There is a change that is happening that new growth and maintaining our cultural heritage are to be valued equally. The new council is on the right track for all of us.

So who buys property in Steamboat? People who want champagne powder, culture, the arts, great restaurants, schools of excellence, a western town, good neighbors, frequent fliers, families, singles and everyone in between. Anyone who wants a piece of the good life. I had sticker shock when I moved here too, but when we go to sell, we will be glad we bit the bullet and made the life change that has brought happiness to our family. I hope you throw caution to the wind ( or not - your financial advisor will probably say - BUY) to live your dream. Visit me on my web site at: I'm happy to help... Are you ready to live your dream?