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Welcome to The Paoli Group Market Update
Our examination of the Steamboat Springs real estate market.
 The Paoli Group Website | The Paoli Group Blog | Members April reported the highest sales volume and units sold for 2009 in Routt County with over $27 million dollars worth of sales and 38 units sold. Selection is high, interest rates continue to stay low (despite an increase in the last 3 weeks) and adjusted prices are bringing buyers and sellers to the closing table. Living in a resort town we can see the underwriting standards tighten dramatically. But financing is readily available for qualified buyers, and we are seeing more private financing opportunities from sellers. Real estate activity has picked up and so has development. One Steamboat Place, Edgemont and Trailhead Lodge continue to show impressive progress. The planning commission approved an increase in allowable height from 67 feet to 105 feet for the developments at the base of the Steamboat Ski Area. The Steamboat Highlands to be developed on Burgess Creek Road won a zoning approval allowing for the city's second-highest-density resort area designation. The taller, denser base area is expected to increase vitality. As we enter the summer season, both buyers and sellers express eager anticipation. July and August will set the pace for the year. Already this spring, more potential buyers have contacted Colorado Group about opportunities in the area. Lower prices and positive economic signs are promoting sound interest and activity. We also want to remind you that we have been updating our proprietary web page. We are identifying the "best buys" in the market--properties we feel have highly motivated sellers. Many of the properties on our list have been sold recently. To check it out online click on www.thepaoligroup.com, click on Resources, and click on Client Login. Next, enter your username and password. If you need a new password or forgot your old one, please send us an email and we can get you set up immediately. Give us a call or send us an email. April 2009 Market Analysis for Routt County Market Comparison Charts There are 6 separate PDF files. (click the titles to view pdfs) 1. Routt Market = Volume versus Units sold (included numbers back to 2004). 2. Routt Chart = Market Comparison Chart. click here 3. Routt Area = Sales by Area (including a running tally from the beginning of 2009). 4. Routt Interval = Interval Breakdown (including a running tally from the beginning of 2009). 5. Routt Price = Price Points (including a running tally from the beginning of 2009). 6. Routt Lender = Top Lenders for the Month (when a Deed of Trust is recorded, we take the actual name of the financial institution that was on that Deed and come up with those numbers). There are two notables over $2.5M:
4/2/2009: $2,500,000 Petrie MDSE Plat Lot 1 + Hayden Airport Hangars Lot RV9 - 7,860 SF 5 Brm 4.5 Bath - YOC 2002 - 10.07 AC Land on Petrie. RV9 is the Garage Space at the Hayden Airport. Petrie is located in the Elk River/Strawberry Area designation. Only one area flag is used even though there is some value in the Hayden Garage space sale, it is considered to be mostly a sale in the Elk River/Strawberry Area. Note: Because of the multiple parcel issue - this sale is flagged to NOT be statistically valid, as the sales price does include two properties so the PPSF would not be indicative of the home only. 4/10/2009: $2,500,000 Marabou Subd #1 Lot D10 - Vacant Site in the Marabou development containing 5.02 AC, which is located in the Elk River/Strawberry Area designation. On another note; The Average and Residential price increased from the previous month! (See attached Routt Price sheet)
Chris Paoli Amy Brown
Broker Associate/Broker Assistant to Chris Paoli Colorado Group Realty, LLC Cell 970.846.2114 Fax 970.870.2803 amybrown@mybrokers.com
The Paoli Group Blog: www.steamboatcoloradorealestate.blogspot.com
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