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Steamboat Springs Occupancy Report April 2021

Steamboat’s weather is changing to Spring faster than I realized.  One day recently, I was looking up at the resort and saw a large patch of dirt amongst the snowy runs.  This was a surprise to me because I had been in full ski season 

Steamboat Springs Snowmobile Tuesday Adventure

A close friend of mine is turning 50 years old in the near future.  We have spent many days together and are over 400 days snowboarding together.  We also have done other things frequently, like rafting and camping.   When I asked him what he 

Steamboat February 2021 Market Check In

A snowy day in February. Not many people in line on a Wednesday!

The past month has been epic skiing.  Though the snow was slow in the earlier season, February was true to us and brought a great storm cycle!  It was good to get into steep terrain and float on some deep powder.

Here is a link to the Colorado Group Realty February newsletter.  It has good insight into the market from our CEO, Steve Goldman.  

The news and opinions I have been studying over the past month is pretty far ranging.  From what I can tell, there are a few camps of thought.  

One is the Inflation Camp.  These people think that home prices are going to come down, or stagnate, due to prices of goods going up.  When the price of our energy, food, and clothes goes up, we have less money to spend on housing. 

The second is the Moratorium Camp.  These persons think that the market is going to be like the 2008 crash.  Where those persons who have a rent or mortgage moratorium lifted and they have to pay their owed monies, thus putting them in foreclosure.  From what I can tell, this will happen but should not be a ‘sky is falling’ moment.  There are not nearly as many homes under water as 2008.

And the third camp is the ‘sky is the limit’ camp, where home buying momentum will continue for awhile to come.  

My perception of Steamboat is the third camp for 2021.  Having ales with brokers and talking about the market, we are seeing a slow down in momentum.  This really doesn’t mean much until we see what Summer brings.  The slow down could just be there is no inventory to buy so buyers are waiting on their property or waiting for Summer inventory, which is typically larger than Winter.  

If interest rates are still low, it will remain easy to buy real estate.

As well, home building has lagged for since the Recession. Millennials have not wanted to buy until now, which makes sense. They are late to start families and that is happening now. The move from the city to the burbs is a lot about making babies over COVID.

Between Gen X going into retirement and looking for another home or two, big corporations like Zillow buying homes, and demographic trends of Millennials, Housing will be a crunch until inventory picks up and interest rates go up.

Steamboat Springs Occupancy Report February 2021

Things have changed in Steamboat for occupancy.  This past weekend is a prime example.  Tourists were everywhere enjoying Steamboat as best they can.  Though lift lines were beyond record length, folks were enjoying the first real storm of the season.   The chart above is 

Steamboat Mid-February Snowstorm

This season has been a slow snow season.  We get a few to several inches each week, but the big snowstorms have been elusive.   I’ve come to really enjoy having multiple days in a row when I look outside throughout the day, or night, 

Getting Out of Steamboat for the Night

COVID has kept most of us home more than we like, except for the best introverts.  Recently, Kristen and I got serious cabin fever and had to escape our condo.

Steamboat Springs, realistically, is in the middle of nowhere.  Located in the northwest corner of the state, it is the main economic hub.  Craig, Colorado has a better-than-expected economy, but is very different from Steamboat Springs’ amenities and volume of traffic.  To get anywhere, a drive of more than an hour is common.

Cities within about two hours of Steamboat include Silverthorne-Dillon, Eagle-Vail, Leadville-Buena Vista, and Glenwood Springs.  Even more is available at three hours of driving.

We chose to get in the car and drive south to Eagle.

We had been to Eagle for Costco runs and stopping in for something to eat on the way to other cities, like Montrose or Durango.  We didn’t know much about the area, so we decided to stay the night at the best hotel there and see what was happening.

Of course, our first stop was Costco.  We bought some supplies for the next month, plus some wine for the evening, and got out of there.  Well, not quite that fast.  I had to go to lost and found to get my wallet, plus stop for a big Costco hot dog.  (In hot dog terms, they are consistent, large, and one of my grab and go favorites to get.)

At this time, the county/city had limited capacity for indoor seating.  After dark, we took a shuttle to Bonfire Brewing, about five blocks from our hotel.  Bonfire Brewing became a favorite of mine over Autumn.  When I would go to Brau Haus, their IPA that made me the happiest was Firestarter, made by Bonfire.  So, being a Bonfire fan and a couple who likes to visit new breweries, we walked in the door to find what we could.

The atmosphere is clearly a brewery.  We were lucky and got a table inside.  There was quite a crowd in the adjacent outdoor tent.  They sounded like they were having fun.  Inside, we were two of the four customers.  We drank our beer and talked about the cool things we found as decorations around the room.  We watched as parties came and went, ordering growlers to go or a quick refill and back out to the tent.  Overall, it was a great visit with no hassles.

In less than a couple hours, we were back at our hotel.  Across the street was Chinese take out.  We ordered, I picked it up. We sat in a bed to each of ourselves and gobbled up good food with fervor.

Getting out of town for a night was great for our minds, emotions, and overall attitude.  Being in one spot for so long drove us a bit crazy. We got out in time before we drove each other nuts.  Bingo!

Steamboat Springs Local Market Report January 2021

The photo above was taken in early Winter.  Today the ground is covered in at least a foot of snow everywhere.  The weather was great through Christmas break, with a couple feet of new snow falling.  This gave Steamboat the chance to open new terrain, 

Steamboat Springs Rents November 2020

As I’ve often said, Denver trends are about 6 months ahead of Steamboat’s.  When I found information on the rental market in Denver changing, I had to follow up. Today I ran into an article from the Denver Post about Denver rents going down.  This 

Stroll to Downtown Steamboat Springs

Yampa River near Spring Creek, Steamboat Springs

The first snow came to Steamboat!  What a great day this always is!  And today was a great day, with everyone staying inside and watching it snow for hours.  Good thing it’s also a Sunday so football could be a great distraction.

But not for me.  Football was great for about an hour and I couldn’t take it anymore!  Being inside for the afternoon was not working for me.  So I decided to go for a walk downtown and K said she would meet me at Tap House for wings and the Broncos game.  I figured from my condo, which is adjacent the ski resort, would be about an hour or so from the restaurant.  

I put on the snow gear I had and started to town.  

Snow was falling at about an inch an hour.  There was already 3+ inches on the ground when I made it to the sidewalk.  With a little breeze, the snowfall was enjoyable to watch.

It wasn’t long when I realized that the City wasn’t plowing anything, and neither was the property management companies.  In fact, in the entire time I was walking, I saw two snowplow trucks, both downtown- one from the city and one from the State.

This made things really nice.  Very few cars and even less people were out and about.  I ran into two ladies walking their dog when I first made it out to Mount Werner Road, and that was it.  I did see other footprints along the way, however the were 20 minutes old or more.  I walked in their path anyway to make my steps a bit easier.

The snow came in cold, so it was light and easy to move.  Walking in it for a couple miles was very different.  I’ve hiked snow for miles before, but this was different.  Having concrete or pavement under fresh snow made steps firm, and packed oddly with snow.  No two steps were alike.  

Fetcher Park, Steamboat Springs

Once I passed Fetcher Park, I walked along the river.  The views were good and the snowfall made everything more quiet than normal.  The bridge over Spring Creek was an excellent scene.  Quiet, yet the sound of water over rocks brought a soothing moment to an already serene experience.

I made it town shortly after.  Walking down Lincoln Avenue brought back memories of last Winter and made me think hopeful thoughts of this Winter being white, full of smiling people, and deep snowboarding powder turns!

Overall, the walk was a bit more than an hour, and the Broncos lost.  The wings were excellent!

Gilpin Lake Hike, Two Times

Gilpin Lake hike is a classic Steamboat Springs locals hike.  The terrain is rocky and uphill, but the canyon views are outstanding.  For me, I did this hike twice in the last month.  Once because I really wanted to see the lake and, second, to