|
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 According to the Federal Reserve United States households net worth rose by $2 trillion to a total of $53.1 trillion in the 2nd quarter. This is the first increase since before the recession began in 2007. Another positive sign the economy is starting to recover. Even though volume is at a low, people are buying. A high proportion of the transactions that are taking place are opportunists taking advantage of deeply discounted properties and low interest rates. Many of these properties are short sales, foreclosures or simply overleveraged homeowners needing to cash out. Being able to identify and purchase these properties at an unprecedented price can be richly rewarding.Below is a list of properties that appear to be distressed. To create this list we are continuously monitoring all foreclosure notices within our county for our clients benefits. If you see a property that you would like to have complete details about please send us an email or give us a call. You may also click here to view a complete list of all distressed properties. 
August 2009 Market Analysis for Routt County 1. Routt Market = Volume versus Units sold (included numbers back to 2004). 2. Routt Chart = Market Comparison Chart. 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). Summary for the month for August: • $33,040,500 in sales volume for the month – the second highest month reported for this year. • $877,500 of the volume was from Fractional/Timeshares. • The total volume sold for this month was 56% of the previous August 2008 • 72 units sold for the month making this the second highest month for number of units sold. • 12 of the units sold were from Fractional/Timeshares. • The total units sold for this month was 2 more than sold last August 2008. • Only 177 loans were reported closed for the month of August. This includes refinances, seconds and any loan associated with a sales transaction. • Last August saw 197 loans closed. • 26 of the 43 residential units sold this August were for $500,000 or below. • Last August 2008 22 of the 41 residential units sold were for $500,000 or below. Notable sales over $2M: • 8/4/2009 Marabou Subd #1 LPSE Homestead B7 $2,700,000 – 6.76 AC – Showing as Vacant Land, sold by Developer: Elk River. $399,408.28 per AC in the Strawberry Park/Elk River Area. • 8/4/2009 Mores Corner Replat Lot 7 Townhome Unit 7-B $2,050,000 – 4 Bedroom 5 Bath YOC 2006 – 4,177 SF - $490.78 PSF located in the Steamboat Mountain Area. • Also notably: There were several new closings in Trailhead Lodge @ Wildhorse this month totaling: $3,880,100 for 4 Units @ $970,025 per Unit. PPSF is not yet available for these units. 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
|
[UNSUBSCRIBE] if you do not want to receive any more newsletters
[FORWARD] to forward this message.
