Steamboat Grand Penthouse # 702 | ID 128606
For more information about this property check out www.steamboatpenthouse.com
$1,595,000 whole ownership or $195,000 for 1/8th share

The Paoli Group Website   |   The Paoli Group Blog

Dear Friends,

As always, thank you for choosing to read our newsletter and do business with us. We have enjoyed an incredibly busy year to date and feel blessed that so many of our friends have entrusted us with referrals. We are looking forward to continuing to build our business in the upcoming winter season. Thanks in advance, for your support. We truly appreciate it.

For this months newsletter, we thought it would be worthwhile to listen to the words of some very successful hedge fund managers who spoke in the past week. Both of these individuals have performed exceptionally well over the past decade, identifying opportunities somewhat contrarian to the general consensus. Here they are:

First, David Tepper of Appaloosa Management in Short Hills, N.J.
Click here to view article and video.

In summary Tepper’s opinion is the economy will either get better, therefore pushing up assets such as stocks, or the economy will get worse and the government will spend a lot of money to prop up asset values and again, stocks will go up. This has a direct correlation to a real estate market like Steamboat due to the large exposure most of the home buyers have to the stock market. The more confident individuals feel, the more likely they are to make a significant investment such as a second home.

Second, John Paulson, founder and president of Paulson & Co.
Click here to view article

In summary, Mr. Paulson believes inflation is inevitable, therefore assets such as real estate will prove to be good investments over the longer term. A key component to this investment thesis is the ability to borrow money at historically low rates. With the government printing money at a record pace, the money borrowed today should look inexpensive in the future.

As it is difficult to see the turn in a market, smart investors such as the ones above have an instinct for understanding when the risk reward has moved too far in one direction. Just like in 2007, when prices couldn’t stop rising, today they will never stop falling. Both will over time prove to be extremes and those who unemotionally can use rational thought to assess risk reward will over time be rewarded.

Here in Steamboat we are looking forward to a big snow year, so if you plan to visit, let us know. We would love to see you on the slopes!

All the Best,
Chris and Amy


Highlights for the month of August:
Click here to view August 2010 Market Analysis pdf.
  • Sales Volume for the month was $46,343,500 that represents a 140% increase over last August 2009.
  • Units sold were 271 which is one more unit sold than compared to the month of August 2007. This represents a 376% increase over the 72 sold last August 2009.
  • Timeshares/Fractional units continue to dominate units sold with 207 out of the 271 sales reported for August 2010.
  • Once again, the Village at Steamboat leads that market with 202 sales of the 207 Fractional sold for the month.
  • Of the 38 Residential Improved Units sold for the month, 28 of those were for $700,000 or less.
  • The Mountain Area reported 28 transactions and the Average Residential Price for that area was $654,770.
  • There were 9 bank sales in August 2010, totaling $2,876,000 in Gross volume or an average price of $319,566 per unit.
  • Of the 282 loans recorded for the month, 150 or 53% of those were part of the Fractional sales.
Notable sales over $1.5M:
  • 8/23/2010 $3,000,000 Dakota Ridge Subd Lot 5 aka 35945 Agate Creek Road – 4 Bedroom 6 Bath YOC 2005 – 3,126 SF Living Area on 3.54 AC. PPSF is $959.69. This sale is shown in the South Routt Area.
  • 8/2/2010 $1,555,000 Stonewood at Eagleridge TH #5 Unit 14 – New – Address not input yet – 4 Brm 3.5 Bath YOC 2009 – 3,890 SF Living Area.
  • 8/12/2010 $1,550,000 Stonewood at Eagleridge TH #4 Unit 20 – 1195 Eagle Glen Drive – 4 Brm 4.5 Bath YOC 2007 – 3,762 SF Living Area.
Analysis provided by: Bruce Carta of Land Title Guarantee Company

Chris Paoli
Owner/Broker
Cell 970.819.1432
chris@mybrokers.com

Amy Brown
Broker Associate
Colorado Group Realty, LLC
Cell 970.846.2114
Fax 970.870.2803
amybrown@mybrokers.com


www.steamboat-springs-developments.com


The Paoli Group Blog: www.steamboatcoloradorealestate.blogspot.com


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