Steamboat Homes

Wildhorse Meadows Gondola opened yesterday to the public. This new gondola has four pairs of six passenger cabins and delivers occupants from Wildhorse Meadows to the base of the gondola in 3 minutes and 30 seconds. With gondola cars arriving every minute and a half, the new gondola is expected to be used as a new way for Wildhorse occupants and the public to get down from the mountain.

‘The gondola will operate daily through ski season from 7:30 a.m., in time to serve people commuting to work, to 6 p.m., late enough to transport the après ski crowd back to their vehicles.’

Kerry Shea, director of sales and marketing for Resort Ventures West, thinks that the new gondola is ‘a strong sign for our market and the strength of our area.’

Check back in the coming days for pictures of the newly opened gondola.

The overall trend of real estate sales in Routt County continues to look positive as December’s sale numbers are released. Following the positive market turn seen in November, the sales volume was just over $83 million for December. With both the sales volume and units sold at levels that were 200% better than sales in December of last year, the market continues to be heading in the right direction. Notable were the 6 sales in the new Edgemont development, which averaged over $2 million each. The chart below is a quick look at the overall sales volume over the past 7 years. As can be seen from the 2009 figures, the end of this year has picked up significantly.

A recent NY Times article comments on the recent upswing in ski-town purchases, crediting the recent, positive trend in the stock market as a major driving factor in beginning to turn many people’s opinion on buying a second home. For more in-depth charts and figures on the past years financial growth in Routt County, please contact me at jon@mybrokers.com.

The luxurious amenities at One Steamboat Place are some of the most impressive in Steamboat. In addition to being a ski-in/ski-out facility, One Steamboat Place is a community that you are excited to return to at the end of the day. You can call ahead as you begin your decent from the gondola and a bottle of wine awaits your arrival in the wine room. Or enjoy a soak after a tough day on the mountain in the secluded hot tub and pool facility. If you are still not as relaxed as you would like, schedule an appointment with the fully staffed spa, located just downstairs. With amenities, condos, and meeting areas designed to help you maximize your fun and relaxation while in Steamboat Springs, One Steamboat Place truly is a luxury development. For more information on other areas within One Steamboat Place or for a personal tour, contact me at or 970-819-6930.

One Steamboat Place Wine Room

One Steamboat Place Spa Entry

One Steamboat Place Locker Room

One Steamboat Place Exterior Pool

One Steamboat Place sets themselves apart from other developments with their heavy emphasis on community. The entire development was designed with community gathering spaces for you, your family and others to enjoy each other. In addition to the fantastic amenities, the concierge and staff organize events, such as wine tasting, throughout the week, fully utilizing their space. Take a look at the pictures of some of the community gathering areas below. For more information on these and other aspects of One Steamboat Place, contact me at jon@mybrokers.com

One Steamboat Place Exterior Plaza

One Steamboat Place Game Room

One Steamboat Place Gathering Room

The National Association of Realtors released information today that many headlines have spun negatively. The Financial Times headlines, ‘Record December Drop for US Home Resales’ and Business Week states ‘Existing Home Sales Decline More than Forecast.’

However, much of this decline has been attributed to the original date that the First Time Homebuyers Tax Credit was intended to expire. Before President Obama and Congress extended the First Time Homebuyers Tax Credit it was scheduled to conclude at the end of last November. ‘First-time buyers rushed to complete deals before the $8,000 government incentive was due to end, pushing sales up 28 percent in the three months to November.’ As a result, ‘analysts were expecting a decline in sales last month as demand was ‘pulled back’ by the rush to take advantage of the incentive.’

This analysis that First Time Homebuyers sudden decrease in home purchases is at the root of the problem appears to be correct when seeing that ‘the share of homes sold to first-time buyers fell to 43 percent in December from 51 percent the prior month

This past December does however, mark an overall increase of home sales by 15% from December ‘08. In addition, the Financial Times illustrates that ‘prices also rose on the year, gaining 1.5 per cent to $178,300. That was the first year-on-year gain and was fuelled by a bigger proportion of high-priced homes being sold.’  ‘The increase was the first since August 2007 and the biggest since May 2006.’

So while many headlines initially appear negative, the overall direction of the market appears to be heading in the right direction.

As a reminder, the deadline for being able to take advantage of the First-time Homebuyers tax credit date is slowly approaching.  ‘The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence…In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.”

If you are interested in taking advantage of this tax credit, I would recommend starting to get a feel of the market and potential homes and by February or March, and begin looking seriously by March or the beginning of April.

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. 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. A first time homebuyer is defined as a person that hasn’t owned a home in the last three years.

If you have any questions about taking advantage of the first-time homebuyers tax credit feel free to contact me at 970-819-6930.

A public notice of foreclosure was posted yesterday by Intrawest’s lenders, stating the auction to sell Intrawest’s assests will be held on February 19th. Whether this will proceed according to the lender’s notice, will only be told in the coming weeks. Intrawest is the current owner of Steamboat Springs Ski Resort.

The Lehman Brothers along with Kempner Capital Management are Intrawest’s primary creditors. After Intrawest missed the latest payment of $524 million, on a $1.4 billion loan, the lenders posted the threat of auction. Intrawest’s owner, Fortress Investment Group, stated yesterday that they continue to own and control Intrawest and all of its properties’ at this time. ‘Intrawest spokesman Ian Galbraith said no company assets have been seized, and it’s business as usual for the Games. Galbraith called the notice of auction…a standard practice by lenders during refinancing discussions.’

The New York Post reports that ‘by forcing Intrawest into bankruptcy, Lehman and other creditors could raise several billion dollars repossessing Intrawest and selling off its various resorts.’Another possible scenario is Galbraith’s explanation, that the lenders are using the Olympics as a means of grabbing more attention to the situation, increasing pressure on Intrawest for the most recent missed payment.

In the short term however, if there is a declaration of bankruptcy, Dan Doyle, the Vancouver organizing committee’s executive vice president of construction, is not worried. ‘Bankruptcy doesn’t happen overnight.’It’s a long process, it’s a process that takes months. Given all of that, we’re very confident that the Games will go on at those two venues in Whistler, and they’ll go on with the co-operation of the people that are running the mountain.’

What does this mean for Steamboat? Depending on how this situation plays out, could result in different scenarios. The headline of the New York Times, tells a fair bit though, ‘Lenders Threaten to Auction Whistler Ski Resort.’ Nothing is yet set in stone.

The 2 solutions I see as most probable are that either Intrawest will re-finance with Fortress’s help, or a new owner with cash will get the resorts for substantially less. This would result in a much better cash flow and the ability to invest in improved facilities.

Will keep you posted on the change of status of Intrawest, and the effects felt in Steamboat.

A recent article in At Home in Steamboat Springs, One Steamboat Place, Edgemont and Wildhorse are commended for their successful efforts at increasing the luxury lodging available at the base of Mt. Werner. While similar in the quality of lodging and amenities offered, these three developments each have distinct qualities that distinguish one from another.

One Steamboat Place has designed the interior of the community to flow with a deep red motif. This theme begins ‘at the front door and continues through the kitchen to a dining room banquette and on into one of several individual bathrooms.” While Edgemont, on the other hand gives each individual owner the opportunity to to furnish and design the interior of their vacation home. Wildhorse Meadows allows owner to ‘choose from four different color palettes and fabric selections to suit [your] tastes.’

Despite the differences in interior design, the article’s author, Tom Ross, describes the change in style of developments, where instead of the ‘lodge look and cowboys-and-Indians motif’ these luxury communities exude an ‘understated Western look of reclaimed barn timbers married with sleek light fixtures and industrial steel [which] allows art enthusiasts to show off divergent art collections.’

Concluding the article, Tom Ross summarizes that  ‘taken as a group, Steamboat’s trio of new signature properties have put Steamboat well on the way to realizing its goal of reclaiming it stature as one of the most contemporary ski villages anywhere.’

For more information on the nuances between the developments, see the Steamboat Communities page

In celebration of the opening of One Steamboat Place, Timbers Resorts is throwing a Grand Opening Party on Saturday, February 6th at 6pm. Occurring during the 97th annual Winter Carnival, the Party is set to take place in a VIP tent, allowing you to watch the festivities while enjoying dinner and drinks

One Steamboat Place is a luxury, ski-in/ski-out development at the base of Mt. Werner in Steamboat Springs, CO. “With ski valet service during the winter and activities including golf, fly-fishing, kayaking and horseback riding the remainder of the year, One Steamboat Place is designed as a four-seasons vacation destination for the whole family. Amenities include a 10-treatment room Spa, fitness and motion studio, a heated outdoor pool and trio of Jacuzzis, daily housekeeping, 24-hour concierge service and an Owners’ wine cellar. ”

For more information about the Grand Opening Party on February 6th, please contact me at 970-819-6930 or at jon@mybrokers.com. Look forward to seeing you there.

We took yesterday as a ski day. And despite the snow being a bit sparse thus far, and it being almost two weeks since our last storm, the skiing was fantastic. Skeptical going into the day, we were pleasantly surprised to spend most of our day skiing runs with 6-12 inches of fresh powder, floating down almost every run. Taking the snowmobiles into the backcountry, we were able to cruise around a bit to find the runs and lines we wanted. Seeing only one other group of people, the isolation on the mountain, coupled with the bluebird afternoon, created a surreal skiing experience. Steamboat skiing is great, just have to look a bit between snowfalls. If you have any questions about skiing in Steamboat feel free to contact me at jon@mybrokers.com.

Buff Pass Steamboat

Buff Pass Steamboat

Buff Pass Steamboat