April Solds in Steamboat

Here is a list of the Weekly Solds for April 2011 here in Steamboat Springs with some of my thoughts/ inisghts, if you would like to know more on these or any other property just give me a call.  It pays to know what is going on and have a good basis for your valuation.  

4/1/11     1391 Morgan Ct. (Condo, 1,087 sq ft, 2 bd/2ba) Located in Villas at Walton Creek. Sold for $300,000  - About right for this unit in a nice complex for locals , part time retirees and front range people who don’t want to rent their unit. 

4/1/11     1575 Eagle Glenn Drive (Townhome,2,803 sq ft, 4 bd/4ba, 2 car garage) Located in Chadwick Place. Built in 2005, it sold for $1.74 million in September 2007. Sold for $986,000 – This is an excellent townhome with great mountain views.  Was fortunate to work for this owner and work with previously interest brokers to bring in a second offer and about $80K more for them.  

4/1/11    34155 Catamount Dr. (Single Family, 6,472 sq ft (5,013 livable), 4 bd/4.5 ba 3 car garage, 4.82 acres in Catamount Ranch) Built in 2003, the lot sold for $607,500 in 1999. Property is valued for 2010 taxes at $3.55 million. Sold for $2.15m – Great value on a distressed home above the Catamount Golf Course. 

4/4/11     147 Oak Ridge Circle (Single Family, 1,725 sq ft, 3 bd/2.5 ba, located on .18-acres in the Sierra View Subdivision) Sold for $444,000 in April 2008. Sold for $160,000 – There are some very attractive values if Stagecoach or Oak Creek at a fit for you with townhomes less than $100K and Single Family homes  for $160-$350K.

4/4/11     1945 Cornice Rd. (Condo, 1,063 sq ft, 2bd, 2ba, Located in The Rockies) Built in 1972 and sold in April 2007 for $250,000. Sold for $189,000 – this one went for well over some recent comps, good for the seller but it pays to work with a broker that knows the market and how to negotiate.

4/4/11     Aspen Street (Lot, A portion of lot 26, block 3 in the first addition to Steamboat Springs) Sold for $225,000 – attractive price for  a downtown lot.  On average land is selling at the highest discount right now.

4/4/11     27666 Silver Spur St. (Single Family, 2,720 sq ft, 3 bd/3ba, located in Silverview Estates) Sold for $790,000 in July 2007. Sold for $460,000 

4/4/11     2300 Mount Werner Circle (Condo, 3,702 sq ft, 4bd/5 ba in the Steamboat Grand.) Sold for $898,000 in March 2006. Sold for $1.075m.  The Steamboat Grand has been relatively stable  with some appreciation after the auction and generally good staying power since then.

4/5/11      455 12th Street (Single Family 1,728 sq ft, 3 bd/2ba, built in 1976 on .4-acre lot) Sold for $357,900 in 2003. Sold for $427,000

4/5/11     1005 Crawford Ave (Single Family, 3,028 sq ft, 3 bd/1.5 ba. Built in 1940 and remodeled in 1973) Sold for $130,700 in 1990. Sold for $430,000.  It’s a good time to look for the homes under $500k downtown if you are willing to do some upgrades.

4/5/11    2410 Ski Trail Lane (Condo, 2,910 sq ft., 3 bd/3ba plus den) Sold for $2.4m – This is an Edgemont Condo, they have seen very good sell through over the ski season with 7 sales and they have paid off their debt. This points to stability going forward in Edgemont if One Steamboat Place resolves their debt issues without too much of an impact.

4/6/11     2200 Village Inn Ct. (Condos, Timeshare interests in vacation condominiums at the Villas of Steamboat) Sold for $204,000

4/6/11      2545 Cattle Kate Circle (Condo, 669 sq ft 1 bd/1ba, Located in First Tracks at Wildhorse Meadows)  Sold for $235,000. Wow, a very high price for this unit, could just about get a 2 br in there for this. Please do your homework.

4/6/11     44385 Arabian Way (Single Family 3,076 sq ft, 3 bd/3ba, home on .61-acre located in Blackhorse I at Stagecoach) Sold for $350,000. Single Family in Stagecoach for well below replacement cost.  Locals and retirees are steadily picking these up.

4/6/11     26680 Neptune Pl (Single Family, 2,285 sq ft,  5 bd/3 ba, Log home on 1.28-acre lot)  Sold for $420,000

4/6/11     155 Hillside Dr. (Single Family, 1,604-square-foot, 3 bd/2.5ba on a .49 lot. Built in 1979, remodel addition in 1995.) Sold for $655,000 in May 2007. Sold for $650,000

4/8/11     2550 Apres Ski Way (One-eighth interest in Residence Club condominium 416 at One Steamboat Place) Sold for $373,500 – remarkable to see them move forward before the foreclosure is resolved. I hope this price works out for the buyer. Contingent contracts are in order until then.

4/8/11     2155 Bear Drive (Land, .96-acre, 40 Located in Running Bear. Sold for $465,000 in August 2005. Valued for 2010 taxes at $800,000) Sold for $400,000.  This is about right but not a deal, we will see some amazing land values this year for those that know they market well and negotiate wisely. 

4/11/11     970 Merritt St. (Single Family, 1,104 sq ft. 3bd/2.5ba brick house on .15-acre lots 11-12, block 5, Yahmonite Addition to Steamboat Springs. Built in 1952 and remodeled in 1966) Sold for $500,000 in 2006.  Sold for $272,000. – Not a bad house for a very good deal. It needs some work but is in a nice location and will make a good home for someone.  The bank bid substantially more in the auction leaving the previous owners with no deficiency but it was a poor decision for the bank.  I was at this foreclosure auction and let the couple know the bank’s process had helped them a bit.

4/12/11     1500 Thirteenth St (Commercial, 14,640 sq ft of industrial buildings including retail space and materials storage built in 1975 on 1.38 acres. Sold for $750,000 in September 2007 and valued for 2010 taxes at $2.09 million) Sold for $469,486 – This is a portion of the whole commercial building valued above.  Still a good deal but not 75% off.

4/12/11     Aspen Leaf Way (Townhome, 1,518 sq ft 3 bd/3ba, Located in Aspens at Walton Creek. Built in 2009 and valued for 2010 taxes at $327,890) Sold for $400,000. – About right, these are nice inside but short on parking within the complex.  All in All I think you can do better in other options.

4/14/11     Routt County Road 38A (Single Family, 4,762 sq ft, 6 bd/6ba Located on 10 acres off Buffalo Pass Road) Built in 1997. Sold for $1.22 million in 2001. Sold for $1.665m

4/14/11     367 Third St. (Single Family, 1,798-sq ft 3bd/1ba, located on .35-acre lot) Sold for $345,000

4/14/11     31550 Aspen Ridge Rd (6,567 sq ft, 4 bd/5ba, with 4 car garage built on 5.79-acre lot 24 in Dakota Ridge in 2007. Valued for 2010 taxes at $3.15 million, the lot sold for $685,000 in November 2006) Sold for $2.875. This was a distressed sale from a spec developer.  I think this buyer could have done better given the story.  The 2010 valuation for taxes is based on 2008 values which were close to 2007 since there were not many comps to adjust with.  The assessor is often off a bit but this is another reason I would call this a relative gift for the sellers.

4/15/11     2720 Eagle Ridge Dr. (Condo, 1,039 sq ft, 3 bd/2 ba Located in Canyon Creek) Sold for $311,500 in June 2004. Sold for $400,000.  – This is an ok unit in Canyon Creek. We are seeing some good signs of life in this portion of the market that was pretty quiet for 2 years. This sale and some other recent ones are  encouraging to me value wise and signal a return of buyers 

4/15/11     28635 Yellowjacket Way (Single Family, 5,278 sq ft, 5 bd/4 ba located 8 acres. Built in 1979 and remodeled in 1992) the property valued at $1.038 million for 2010 taxes. Sold for $499,000

4/18/11     3345 Columbine Dr. (Condo, 959sq ft, 2bd/2ba, Located in Sunray Meadows) Built in 2005 and sold for $410,000 in July 2007. Sold for $205,000. This property was aggressively listed by the bank at $189k about $10k below the last sale.  It got multiple offers and sold for higher than the last one that had been priced higher and was nearly identical.

4/19/11     Trails Edge Road (Single Family, 5,358 sq ft 4bd/5ba, 2 kitchens, located on .45-acre lot in Rendezvous Trails) Built in 1983 and sold for $710,000 in 1990. Sold for $1.35m .  A great value for the land alone in this neighborhood.

4/20/11      35355 Priest Creek Rd (Single Family, 4,690 sq ft 3 bd/4.5 ba, 3 car garage on 4.08-acre lot, in Priest Creek Ranch) Built in 2000, it sold for $2.45 million in April 2004. Sold for $1.87m.  This is a great home in a great close in rural subdivision.  It had about $300K of upgrades including a state of the art 3 axis solar system.  This was a steal.

4/22/11     1422 Morgan Ct (Condo, 1,032 sq ft 2bd/2ba, Located in The Villas at Walton Creek) Built in 1998 and sold for $322,000 in May, 2006. Sold for $265,000. – Very good deal on this unit.  

4/22/11     2739 Iris Lane (Single Family, 1,392 sq ft 2 bd/ 2ba Located on a .26-acre lot in Riverside Subdivision) Built in 1977, remodeled 1980, sold for $128,000 in 1993. Sold for $270,000.

4/22/11     504 Robin Ct. (Single Family, 2,872 sq ft 3 bd/2.5 ba, built in lot 9, Emerald Knoll-Hanley in 2000. Sold for $539,000 in 2002) Sold for $625,000

4/25/11     2700 Village Dr. (Condo, 1,041 sq ft, 2 bd/2ba, in The Lodge at Steamboat) Built in 1980, it sold for $183,900 in December 1997. Sold for $299,000.  These have gotten to just about the right price level . 

4/25/11     2590 Longthong Rd. (Condo, 985 sq ft 2 bd/2 ba) Built in 1973 and sold for $179,000 in 2003. Sold for $240,000

4/25/11     2830 Blackhawk Ct. (Townhome, 2,324 sq ft 2bd/2ba, Located in Blackhawk Townhomes) Built in 2002 and sold for $650,000 in 2004. Sold for $700,000. Great contemporary townhome if this is your style. 2 sales in here within about a month.

4/25/11     60035 Antelope Way (Single Family, 3,515 sq ft, 4 bd/ 3.5 ba, Located on 5.02-acre lot in Aspen Heights near Clark, plus .24-acre lot 255 in Steamboat Lake Subdivision 7) Aspen Heights property valued for taxes at $883,760. Sold for $1.25m

4/26/11     2525 Village Drive (Condo, 1,921 sq ft, 4bd/4ba) Built in 2006 and sold for $1.214 million in February 2008. Sold for $765,000 – continuing to work through the distressed units at the Chadwick.  It’s sad that  people were misled over there and nearly every unit ended up being distressed. I have had several call from people I talked out of buying there thanking me in the last couple of years.  That is a good feeling.

4/26/11     703 Lincoln Ave. (Condo, 1,935 sq ft, 3bd/3ba Located in Howelsen Place. Built in 2008, valued for 2010 taxes at $1.54 million.) Sold for $1.17m – Great unit for a good price. People are recognizing the value of living downtown  and we have seen a strong amount of sales in Howelsen and the Olympian over the ski season.  

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