Steamboat real estate deals are now tempting buyers back to the market
If you have considered owning mountain town real estate, there may be no better time to buy than now. Prices have fallen all summer and recent sales activity suggests that we are now at a level where some real opportunities exist and buyers are becoming active once more.
Steamboat has the advantage to being historically under-priced compared to its glitzy neighbors, Aspen and Vail. The transformation that came with the arrival of resort developer and new owner, Intrawest, means that Steamboat now offers a new level of ski resort experience. This includes lift operations enhanced by a $30 million spending program, revitalized base area development, regraded lower mountain trails, and the recently expanded airport terminal providing non-stop service from 10 major US airports with national and international connections. In 2007, the market was red-hot and prices had jumped indicating a new level of respect for Steamboat’s potential. The economic recession has forced prices down to the point where several properties can be purchased at close to their construction cost - an irresistible price-point for the investment buyer.
Adding to the opportunity is the surging demand for vacation rental homes. The savvy traveler is no longer interested in a cookie-cutter hotel or condo experience when a more private and classier experience is available in five-star, professionally managed, vacation rental homes. The rental return on these properties ranges from 5% - 8% yield in addition to the long-term appreciation that is expected in Steamboat.
You will need good advice from a local realtor with the experience to ensure you gain the best price and that you understand all the nuances that come with that specific property and location. Moving Mountains recommends Darrin Fryer of Prudential Steamboat Realty. His knowledge of the area will help you find the best opportunities and make a sound investment decision. Please feel free to contact Darrin for a no obligation tour of properties that might suit your lifestyle and budget (970-846-5551).
Visit Darrin’s website: www.steamboathomedeals.com for the inside scoop on current buying opportunities.
Visit our website: CLICK HERE for information about our property management services in Steamboat Springs.
One Response
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.
Continuing the Discussion
You must be logged in to post a comment.