8/7/2019 Prudential Steamboat Realty - Winter 2011 News

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prudential

connectionSTEAMBOAT

If your property is currently listed with another Realtor, this is not a solicitation for a listing.

610MARKETPLACEPLAZA,SUITE100STEAMBO

ATSPRINGS,CO80487

2010 MARKET SUMMARY

Also Inside:

QR & Text Codes

Prudential, Sunshine Kids and

Tour De Steamboat Ride Again

2011 Winter Calendar o Events

8/7/2019 Prudential Steamboat Realty - Winter 2011 News

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prudential

connectionSTEAMBOAT

Volume 19, Winter 2

Whether you like it or not, a lot o theYampa Valley has snow on the ground ornearly 6 months out o the year. Taking an

aternoon drive while looking or real estatecan be a daunting activity when aced with

piles o the white stu standing betweenyou and an inormational brochure aboutyour potential dream home. I youre lucky,

somebody beore you will have alreadycut a post-hole trail to the brochure box

which you can hope to saely maneuver.

There is now, however, an easier way to get

inormation in your hands. In the earlypart o 2011, Prudential Steamboat Realty

will begin utilizing Quick Reerence (QR)and texting codes on a lot o our real estate

signage. For those o you wondering whata QR code is, it is simply a type o squarebarcode containing inormation that, when

scanned by a smart phone (iPhone, Droid,Blackberry etc.), can provide immediateinormation. Both the new QR and texting

code options will allow or near-instantinormation including a link to a mobile-

riendly website o the property.

What does this mean for you?For buyers, this represents a way to obtainrelevant inormation rom a distance byeither text or a ree barcode reading

application on your smart phone. Youcan then browse through interior photos,

descriptions, pricing and contactinormation or the property in ront

o you. For sellers, this means havingconfdence that inormation about your

property can be obtained on impulse bypassers-by, regardless o snow pack andbrochure inventory.

How It Works:On your smart phone, go to your appstore (market) and search or a ree

barcode scanner. Once downloaded,open the app and scan the code

above! Or text PSR1 88000.

Prudential Steamboat Realty is proud toannounce that we will once again be teaming

up with the Tour de Steamboat in 2011 to helpraise unds or the Sunshine Kids Foundation.

The Sunshine Kids, based out o Houston,TX, is an organization ounded with the

In addition to lending support every

year to the Sunshine Kids annual visit toSteamboat, in 2011 Prudential Steamboat

Realty will host the Tour de Steamboat

Beneft Dinner on July 15th. Our agentsare working together to round up silent

auction items, live entertainment, and createa un atmosphere at the Sheraton Pavilion,

all the while supporting a great organization.Last year this event helped raise over

$40,000 and this year we hope to raise evenmore! Visit TourDeSteamboat.com topurchase your tickets today.

To learn more about Sunshine Kids visit

SunshineKids.org.

An Easier Way to Information QR & Texting Codes

mission o ...adding quality o lie to childrenwith cancer by providing them with exciting,

positive group activities, so they may onceagain do what kids are supposed to do...

have un and celebrate lie. Every March,the Sunshine Kids do just that or thesechildren by hosting a un-flled week-long

event in Steamboat Springs. This vacationincludes various activities including tubing,

skiing, snowmobiling, social events and afnal ski competition to showcase their new

skills on the snow.

Beginning in 2008, The Kent Erikson Tour

de Steamboat transormed into an event tohelp raise unds, as well as awareness, or the

Sunshine Kids. The event itsel has becomea popular road bike venue with not justColoradans, but with over 23 states repre-

sented throughout the nation in 2010. Theevent consists o 3 dierent routes rom which

riders can choose 25, 40 or 100 miles andtakes them through some o the most scenic

areas in the Yampa Valley including 3mountain passes or the more determined.

Prudential, Sunshine Kids, & Tour de SteamboatRide Again!

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2010 Market RecapDave Moloney

While difcult economic times sent real

estate buyers into hiding or a time, 2010saw some encouraging signs that they are

beginning to return to the market. Accordingto data obtained rom the Routt County Clerk

and Recorder, the number o sales rose 71%in 2010 when compared to sales in 2009.Great pricing, historically low interest rates

and a good selection o quality propertieswere enough to start moving buyers o the

ence. Recently there have been several caseso multiple buyers bidding on the same

property. This is a great indicator that abottom may have ormed.

Buyers took advantage o good deals in allprice ranges, but sales o residential improved

properties priced below $500,000 accounted

or nearly 57% o the total. Roughly 22%occurred in the $500,001 to $999,999

price range and properties priced over$1,000,000 accounted or 21%.

Foreclosures and short sales also played akey role in 2010 as a record number o

oreclosures took place in Routt County. Oall the sales recorded or 2010 approximately

15% were oreclosed properties and 7% wereindicated as short sales. However, despite

higher than normal oreclosure activity,

only 4% o the properties currently listedor sale in the MLS are identifed as bank

owned properties.

Prudential Steamboat Realty once again led

the way in 2010 generating over 40% o thedollar sales volume recorded in the MLS.

In act, Prudential sold more units than thenext two closest competitors combined.

So is the worst behind us? Well it is hard tosay with certainty, but the coming year will

oer opportunities or great reward to thosewilling to jump into the market ahead othe crowds. We will continue to have a good

selection o properties to choose rom at thebest prices we have seen in years. In some

cases, prices have allen over 50% rom the

highs achieved just a ew years ago. Howeverthere are a limited number o propertiesoering these kinds o discounts and they

wont last orever. O course the one thingthat remains, regardless o the market,is the Yampa Valley is one o the greatest

places on earth to live and its popularitywill only continue to grow! I youve been

contemplating buying, now is the time to act.

Call your Prudential Broker today.

Prudential Steamboat Realty Market Share 2010Units Sold in 2010Top 5 Real Estate Firms in Steamboat

% Volume Sold in 2010Top 5 Real Estate Firms in Steamboat

AgencyA

AgencyB

AgencyC

AgencyD

350

300

250

200

150

100

50

0

AgencyA

AgencyB

AgencyC

AgencyD

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

* Source: Steamboat Spring Multiple Listing Serv ice (MLS)

WINTER/SPRINGCalendar of Events

EBRUARY-6 98th Annual Winter Carnival

First Friday Artwalk

Soda Pop Slalom

4 Valentines Parades & Fireworks6 BL Rocks the Boat FREE Concert

/26-3/5 Natl Brotherhood o Skiers

7 Vertical Express or MS

MARCH-3 27th Womens Ski Camp

BL Rocks the Boat FREE Concert

7 St Patricks Day Parade& Fireworks

8 Downtown Sidewalk Sales

5-25 Ski4Yellow

6 BL Rocks the Boat FREE Concert

APRIL-10 Springalicious Celebration

BL Rocks the Boat FREE Concert

31st Cardboard Classic

0 4th Splashdown Pond Skim

0 BL Rocks the Boat FREE Concert

0 Closing Day

70.879.8100 | PruSteamboat.com

Photo courtesy o Sara Ferris

8/7/2019 Prudential Steamboat Realty - Winter 2011 News

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City of Steamboat Springs 10 Years Total Dollar Volume, Units SoldTownhomes$200 mil

$175 mil

$150 mil

$125 mil

$100 mil

$75 mil

$50 mil

$25 mil

$0

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

TOTALDOLLARVOLUME

UNITSSOLD

250

200

150

100

50

0

$175 mil

$150 mil

$125 mil

$100 mil

$75 mil$50 mil

$25 mil

$0

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

UNITS

SOLD

Volume Units SoldVolume Units Sold

TOTALDO

LLARVOLUME

Single Family Homes 300

250

200

150

100

50

0

TOTALDOLLARVOL

UME

Land 125

100

75

50

25

0

$70 mil

$60 mil

$50 mil

$40 mil

$30 mil

$20 mil

$10 mil

$0TOTALDOLLARVOL

UME

UNITSSOLD

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Volume Average Price

Condominiums 700

600

500

400

300

200

100

0

$275 mil$250 mil$225 mil$200 mil$175 mil$150 mil$125 mil$100 mil$75 mil$50 mil$25 mil

$0

UNITSSOLD

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Volume Units Sold

* Data does not include development land sales o $10 million dollars and above* New development closings caused an increase in the average transaction price or condos in 2009

2010 Price Point Summary Residential Improved Units

$300,001 to $500,000 114 24% $43,197,100

$200,001 to $300,000 94 20% $23,626,300

Less than $200,000 65 14% $9,288,500

$1,000,001 to $1,500,000 56 12% $66,798,600

$500,001 to $600,000 27 6% $14,958,000

$700,001 to $800,000 25 5% $18,923,200

$800,001 to $900,000 24 5% $20,533,700

$600,001 to $700,000 18 4% $11,728,400

$1,500,001 to $2,000,000 17 4% $29,214,500

$900,001 to $1,000,000 14 3% $13,529,400

over $3 Million 12 3% $41,720,800

$2,000,001 to $2,500,000 10 2% $23,255,000

$2,500,001 to $3,000,000 9 2% $25,422,000

Price Range Units Sold % Volume

24%

20%

14%

12%

6%

5%

5%

4%

4%

3%3%

2%2%

* Data excludes timeshares and ractional units

Inormation compliments o Bruce Carta