Well, it’s official. I can’t find one contrarian to say something like ‘the real estate market may not be as hot as people say’. I don’t know if it is because the press isn’t allowed to print that news, or if people really believe …
Steamboat has begun to open up, not just restaurants, but also periwinkle, larkspur, and more. Lincoln Avenue is lined with white crabapple in full bloom. The smells and sights are excellent!
The past few months have been quite exciting in terms of conversations of what is happening market-wise as well as what might happen. If you’re a reader of this blog, you know that it has been hard for me and other professionals to get a handle on what we is going on and where is this likely to go.
One statistic I have more confidence in more than normal is the National Association of Realtors saying the change in home values this year will be 1.1% up in value. This comes after a strong beginning to the year. Summer is anticipated to be active and then momentum slows for the remainder of the year.
They are saying similar statistics for next year. Forecasting next year is a difficult activity. In my opinion, predicting next year without seeing what Fall brings is unsafe. There are positive things to consider for next year, such as the stock markets have seen growth that eliminates earlier losses from this Winter. And there are many people able to be employed differently now, especially opening up in the trades areas.
What aggravates me are discussions that don’t include how we interact globally. Around the world, most major economies have suffered and will need time to recover. As well, developing countries will not have the support of larger economies spending in their borders. Steamboat Springs is a world class destination area. We rely on international visitors and supply chains. The disruption in these areas will take time to recover, and some will not recover without demand occurring first.
Home prices are stable in Steamboat. Prices are neither going up or down, generally speaking. Rent prices are going down, with 2 bedroom units in March seeing $2200-2500 a month. Today, those same properties are $1800-2000 a month. Competition is growing because travelers are fewer, HOA fees due monthly, and mortgages.
I have often said to watch the Denver market. Here’s a great article in Westword on current Denver trends discussing the current market.
Good stuff from NAR:
Nationally, it appears that Buyers think they may pay too much for a home or are going to get a good deal. And Sellers think values are stable and will get their asking price. This is a common dynamic and it’s early to say which is more correct.
What are people searching for and spending money on?
RV rentals and purchases
Source: NAR and The Hustle
Folks are building lives around being at home. When the current pandemic concludes, many families will have changed patterns. What happens later is part of the reason I say we will know so much more in Fall.
What I can’t find right now? A used PS4 at a reasonable price. Who would have thought?
Overall, I’m positive about changes in the markets and can see that things are going to get better. What will be able to guide our understanding of what this will look like is Fall.
Coronavirus has been a challenge everywhere, including Steamboat Springs. It seems only Montana and other rural states have been spared pain that many of us have been working with for over two months. For real estate, now that some time has gone by, understanding trends …
Colorado Mountain College in Steamboat Springs is a great place for students to continue their education. It’s also one of the first disc golf courses nearby to open for the Summer season.
I had gotten out a couple times this week and found the course in great condition. The trails were dry, except for a brook caused by a spring uphill, and the bushes have not leafed out completely, which makes it easier to find wayward discs.
Overall, this is still an alpine mountain course and it plays like one. Up hillsides and ridges, across ravines, and through aspens and oaks. There is open terrain to toss a good drive, and often discs glide the way I want them. There are afternoons when the winds are variable, and gusty. These days are always interesting, providing for both epic throws I would never think I can do or miserable slogging through tight bushes and brambles to find a lost disc.
This morning I had just enough time to get nine holes in before I was going on a long shopping trip with K.
To get to the course, a person has to drive up and around the administration buildings and to the dormitory parking lot. The course starts at the end of the parking lot. Hole one starts at the pavement and moves around a large area above the dormitory. Being uphill, the views are often striking.
The sun was up and there was still some dew on the grass. It must have been about 8:00 in the morning when I tossed my disc up the short distance to the first hole. The air was cool and no one was around. I was pretty stoked because I was using new discs I bought the day before at Boomerang (who has a good selection of Innova discs).
The views were of green and white Emerald Mountain, downtown Steamboat Springs, and the thawing Steamboat Springs Resort. I followed red dirt trails through bright green grasses. Picking up discs from patches of glacier lilies and picking up scent of fresh sage.
Finally, on Hole 9, I made a really good throw that was guaranteeing me a birdie shot on the basket. When I walked up, a guy my age and his golden retriever came over the ridge. Earlier in the week, he had lost two discs that had sank in a seasonal pond. This pond is at the far end of the fairway of Hole 9 and exists only during Spring runoff. Using the rake that is kept there, he found one disc right away. His second disc would have to wait for another day.
Of course, my disc found the basket for a birdie. Thinking about my great day ahead, I walked to my car a short distance away.
To continue on the course and get 18 holes in, the original 9 baskets are used, however, the tee boxes are in different places. With the terrain being so variable, CMC was able to make a great second half to the course.
A couple of weeks ago I posted about how quiet things have been in Steamboat Springs because of changes due to the coronavirus. Things are still quiet, and now that we are towards the end of quarantine, I’ve discovered a few things. First, active Steamboat …
Last week, on Wednesday, I was able to get some afternoon time free and go bike riding with my friend Poacher. He has lived in Steamboat about a year and had not experienced a number of trails, mountainside riding, and cruising by the river. We took a three hour ride around the area, exploring.
This week, Poacher sent me a text early in the morning and we set up time to ride in the early afternoon.
The day is a warm Spring day with blue skies and a slight breeze. The weather brought out a number of locals getting fresh air and moving around. It is a brilliant day in Colorado!
We started uphill on Walton Creek then on to Val d’esere and down to Whistler Park. Along the way we ran into our friend B, who was out working hard on his route. We chatted for a bit and reveled in the warm Spring weather we were having that afternoon.
From Whistler Park, we toured across the lower part of the mountainside area, traveling to Barn Village. Barn Village is set uphill from the famous More Barn of Steamboat marketing fame. It’s the barn you see in many images relating to the resort. The subdivision is well-built with single family homes and duplexes. Their design is mountain contemporary and pleasing to view.
At the top of Barn Village we took a shortcut path from the cul de sac up to Steamboat Boulevard. Steamboat Boulevard is a favorite biking route for me. It rolls quite a bit, and going from mountainside to town, the ride takes a person to Fish Creek Falls Road, which is an awesome downhill. This downhill is also one of the hills I purchased a new bike – one with disc brakes.
At the bottom of the downhill, Poacher and I concurred that the next time we do that really fun ride, we would be wearing helmets. Slight mistake from a casual ride turning in to an adventure.
Both of us were feeling time pressured from taking an uncharted bike ride across Steamboat Springs. We hopped on the Core Trail at Rabbit Ears Motel and took the fast lane to the mountainside. Wrapping up our ride by following Burgess Creek for a couple blocks, we said goodbye and headed to our homes.
Bike riding in Steamboat Springs is usually a great time. Sometimes trails get crowded. Usually we run into a handful of folks and say hello to each of them. The season is now for great road rides, while the snow melts from trails.
The change in our lives across the nation has brought on many things that weren’t expected. Seeing Steamboat a sleepy town is much different than the normal shoulder season. Normal shoulder (mud) season has some tourist and second home owners in for the season. …