I attended the pre-auction event yesterday at Trailhead Lodge along with about 20 other brokers and buyers. There were also numerous participants on-line. The brokerage community here in Steamboat is excited about the upcoming auction – savvy buyers are going to be purchasing at real savings in a high-end desirable development. I am hopeful that these condos will sell for less than $300.00 Price Per Square Foot (PPSF). If Silver Leaf paid .50 cents on the dollar, it makes sense that although the unpublished reserve price remains a mystery they do not want to hang on to these units. The starting bid prices are about $230.00 PPSF but it is doubtful to me that they will sell that low. There remains 55 unsold properties although only 39 will be available Sunday unless perhaps there is more demand then expected. It is the sellers right to add more if they are experiencing success. The rental numbers supplied by Steamboat Resorts yesterday indicates a $20,000 – $47,000 gross rental estimate based on the size of unit purchased (higher rental numbers for larger units). They charge about 45% for their management fee which is very typical of the larger management companies in Steamboat. You can also chose to self manage. No one can say for sure your final rental numbers but the Trailhead Lodge is a popular property here in Steamboat Springs, CO due to the gondola outside your front door, newer work-out facility, game room, and large year round pool & three grotto pools in a stunning setting. All units are sold furnished. The staff there is amazing and very accommodating. I personally love its proximity to our premiere indoor/outdoor tennis court facility, as well. Winning bidders are also going to be able to chose various Alpine Club memberships which is great for base area ski convenience.
If anyone is considering participating in this auction you need to sign up by May 3rd no later than 6:00 pm and have a cahiers check for $2,500.00 made out to Heritage Title. I can represent any buyers if they have not already signed up but it is important to sign up this week and include me as your preferred broker. Be sure to secure your financing early and know that there will be a 5% fee added to your final purchase price. Cash buyers just supply proof of funds. On auction day, if you meet the unpublished reserve the unit will be sold. If you’re the winning high bidder yet the reserve has not met or exceeded the seller’s minimum, we will be allowed up to 5 days of negotiation, which can take place to secure the unit. The last auction Kennedy Wilson conducted sold all the available units on the day of the auction. They are hopeful for a successful auction this Sunday as well. I (Michelle Diehl – Broker Associate GRI) can be reached at Prudential Steamboat Realty by calling 970.846.1086 if readers need anything concerning real property here in Steamboat Springs, CO and/or representation for the Trailhead Auction – I will be at the event Sunday, May 6th at the Denver Marriott City Center assisting my clients. Buyers can register and bid on-line as well and I can act as your ears and eyes. One last thing, go to the Kennedy Wilson site (www.SteamboatSpringsAuction.com) to download the CIC documents and purchase agreement prior to the Trailhead Lodge auction so you are informed. I’m happy to help…. Call me with any questions… Michelle Diehl - www.SteamboatDream.com – 970.846.1086.
If you are buying or selling in the Steamboat Springs or surrounding areas, I can provide what you need. I am paid my success fee only after you experience success! Contact me today and let’s get started... web: SteamboatDream.com e-mail: MichelleDiehl@comcast.net cell: 970.846.1086 office: 970.879.8100 EXT 434
