February 2012

Found 6 blog entries for February 2012.

Steamboat is quickly making up for lost time.  After being off to a slow start this year, it appears as though the mountain is intent to not let this winter get written off as a low snow-year. An unexpected snow storm left Mt. Wermer with 27" in 24 hours and an additional 7 inches of snow at mid-mountain since 5 a.m. this morning, brought the 30-hour total to 34 inches at mid-mountain. And it was all Champagne Powder!   

One of my favorite thoughts on todays snow in Steamboat come from Open Snow's Joel Gratz, who in his review on snow in Colorado said the following about Steamboat - 

"The old 'Steamboat Surprise' returned last night. I have no solid ideas about how they could get 27" of snow (I talked to someone at Steamboat and they said that the snow

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   Snow has come back to Steamboat!  After a slower start than we are accustomed to, this past week in Steamboat the snow has been fantastic! As of 5 a.m. Wednesday morning, the ski area had received 28.5 inches of snow at midmountain in the past seven days. That’s 5 inches more than we saw the entire month of December, and it’s a good portion of January’s total of 39 inches. 

   I was fortunate enough to be able invoke my Powder Clause to ski a few runs early with friends before heading into work on Tuesday and thought I would share a quick video of what it looked like.   Not only has the snow been plentiful, but it's also Steamboat's Champagne Powder as well. 

  The weather pattern that had been blocking our storms has gotten much weaker.   I hope

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My son Alden in a SSWSC J6 race on Mt. Werner  

  I got a great question Saturday from someone on this blog and thought I would pass on some of what I know and or think.  It's funny that I wrote myself some notes on Friday to do an update like this.  Feel free to ask if you have a question and I will give you my thoughts. 

   Intrawest is a private company that is owned by Fortress Funds since 2006 so we can't review their financials. That said, I haven't seen negative news about them since they sold off interests in several resorts and took Whistler public and we can infer some things about their strength by their actions. These sales allowed them to retire their existing loans and put a new debt structure in place by April of 2010.  The

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  We live in interesting times. Our economy is not great but I agree with many economist's conclusion that it is remarkably durable given the challenges of the last few years. There are definitely challenges ahead but we are seeing improvements in many key factors and the horizon looks better than it has in years.  

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   I am not a believer in efficient markets because they so often swing to far each way and react as much on emotion as data.  Seeing the headlines about Nasdaq hitting 11 year highs while there is improvement but not good times yet formed a stark contrast in my mind.  I am not a believer in efficient markets because they so often swing to far each way and react as much on emotion as data.  I think that we are seeing an example of this

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   We are happy to announce that The Steamboat Group is growing again.  We have added Peggy Spitellie as a full time member to our team thanks to the increasing number of people we are fortunate to work with.  We feel fortunate for the continuing referrals from many of you. We are structuring our growth to allow us to raise the bar in the Steamboat Real Estate Market and deliver you better service.

   Our team now consists of Peggy, Erik, Wendy and myself, Jon.  Our goal continues to be to put your interests first, earn your trust, educate you on our market, negotiate effectively and help you have a great experience with the Steamboat Group.  Each of us is also committed to continually learning more from the best in the industry, helping you get the

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   Jon recently had the opportunity to present his analysis of the state of the local Real Estate Market to the Steamboat Chamber of Commerce.  His presentation outlined events, notable sales and trends from 2011 and then looked forward to 2012 based on shifts we are seeing. 

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  Jon’s presentation began with an overview of the sales volume from the past 8 years in Steamboat.  While overall sales volume of 2011 was 88% of the previous year, the shift can be accounted for in a few factors.  A few notable reasons for the decrease vs. 2010 include:

  • The Large quantity of National Club/Timeshare sales in The Village. $94M in 2010 down to $38M in 2011
  • The Lower average selling prices in much of the market
  • And fewer high-end distressed Single Family &
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