BUYING AND SELLING REAL ESTATE – The skinny on Steamboat Springs real estate.

29Aug 2022 by Olson | Tolan Team Blog

COURSE CORRECTION: A LITTLE BIT OF NORMALCY RETURNING TO TODAY’S MARKET

BUYING AND SELLING REAL ESTATE, Helpful Advice, SOTHEBY'S NEWS

by steamboatsir | Aug 29, 2022 A conversation with Managing Broker, Jill Limberg There’s no sugar-coating the fact that the real estate market has experienced a few waves of uncertainty in recent months as financial indicators have brought a dose of reality to the post-pandemic boom. The good news is that the market here in Steamboat is as robust as ever; it’s just not as gangbusters as it was a few months ago. “In the peak of the craziness of the market, multiple offers were the norm. In some cases, I heard of 20 offers at the same property at the same time,” says Jill Limberg, Managing Broker, Steamboat Sotheby’s International Realty. “We’re still seeing multiple offers on some properties in certain sectors of the market, but more like 3 instead of 20.”…

25Jul 2022 by Olson | Tolan Team Blog

STEAMBOAT CITY COUNCIL PASSES STR TAX – VOTERS TO DECIDE IN NOVEMBER

BUYING AND SELLING REAL ESTATE, Helpful Advice, NEIGHBORHOODS IN AND AROUND STEAMBOAT SPRINGS, SOTHEBY'S NEWS

by steamboatsir | Jul 25, 2022 You’ve likely heard about changes to short-term rental policies in Steamboat Springs, particularly though the process in which Steamboat Springs City Council was working to create a zoning map for how to regulate STRs in the city. Recently, the map was completed and approved with three zones – green, red, and yellow – which regulate how STRs will be available going forward. The next step which was recently approved in a second reading of the ordinance is an additional 9% tax on STRs. This will appear on ballots this fall, falling in the hands of the voters. City Council approved this 9% tax, and if it passes, the plan is to use the funds generated to support the build out of the infrastructure at the Brown Ranch,…

28Jun 2022 by Olson | Tolan Team Blog

STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY PRESENTS: THE COLLECTION – SUMMER 2022

BUYING AND SELLING REAL ESTATE, SOTHEBY'S NEWS

by steamboatsir | Jun 28, 2022 Steamboat Sotheby’s International Realty is proud to present the Summer 2022 issue of our exclusive publication, The Collection, in stands July 4th. The magazine features locally-curated content and stories about the people, places and lifestyle of Steamboat Springs, as well as showcases the homes for sale that are exclusively represented by Steamboat Sotheby’s International Realty. In creating the magazine, SSIR collaborated with community members from Steamboat Springs and Routt County to deliver a fresh and unique perspective on life in the Yampa Valley. These stories offer engaging insights into the Steamboat Springs community and lifestyle. As Steamboat’s leading real estate firm with nearly 35% market share, the company is excited to share this publication, which reflects the quality that exemplifies the Sotheby’s International Realty brand, while also showcasing…

16May 2022 by Olson | Tolan Team Blog

FRACTIONAL OWNERSHIP: A MORE AFFORDABLE OPTION

BUYING AND SELLING REAL ESTATE, Helpful Advice, SOTHEBY'S NEWS, STEAMBOAT SPRINGS CONDOMINIUMS

by steamboatsir | May 16, 2022 With the unprecedented surge in property values over the past few years, real estate ownership has either slipped through the fingers of many would-be owners or has discouraged those shopping due to stiff competition or lack of inventory. If you fall into one of those categories, an affordable alternative to consider is fractional ownership. A hybrid of timesharing, fractional ownership has been around for nearly 40 years and has grown in popularity from a segment of the population who find it more practical to just own the portion of a property they intend on using. Fractional ownership is defined as ownership greater than one week of use per year and less than whole ownership. Some projects call themselves a “Private Residence Club”. They are identical to fractional…

08Feb 2022 by Olson | Tolan Team Blog

Stop Stressing: You Don’t Need a 20% Down Payment to Buy a Home

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK

02/08/2022 Olson Tolan Team Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase price to buy, according to NerdWallet’s 2020 Home Buyer Report. “These days, you don’t need to put a full 20% down on a home,” says NerdWallet home and mortgage expert Holden Lewis. “Lenders offer mortgages with far less — as little as 3% down — which allows far more people to get into homeownership sooner.” So, how do you know just how much you need to save up based on your specific goals? It requires a little strategizing. Before you can…

17Jan 2022 by Olson | Tolan Team Blog

A Return to ‘Normal’? The State of Real Estate in 2022

BUYING AND SELLING REAL ESTATE, Helpful Advice, SOTHEBY'S NEWS

Olson Tolan Team 1/17/2022 Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1 However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2 While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed its peak. So what’s ahead for the U.S. housing market in 2022? Here’s where industry experts predict the market is headed in the coming year. MORTGAGE RATES WILL CREEP UP Most…

11Oct 2021 by Olson | Tolan Team Blog

AFFORDABLE HOUSING IN STEAMBOAT: BROWN RANCH TO PROVIDE THOUSANDS OF AFFORDABLE HOUSING UNITS FOR STEAMBOAT LOCALS

BUYING AND SELLING REAL ESTATE, SOTHEBY'S NEWS

by steamboatsir | Oct 11, 2021 The challenge of finding affordable housing for workers in mountain towns is nothing new, but pandemic trends have created a perfect storm for what has become a true housing crisis in Steamboat. Increased demand and limited supply have driven real estate prices to astronomical heights, making it even more difficult for our local workforce to afford housing. “Since the pandemic hit in 2020, the housing crisis has affected all income levels, not just low income,” says Sheila Henderson, Community Outreach Coordinator, Yampa Valley Housing Authority. “Even people in higher income brackets still cannot afford to move here, and as a result, we’re seeing a serious labor shortage and local businesses are really struggling. Basically, if you want to buy a single family home in Steamboat, you need…

29Jul 2021 by Olson | Tolan Team Blog

HOME RUN: HOW TO STAY COMPETITIVE IN TODAY’S MARKET

BUYING AND SELLING REAL ESTATE, Helpful Advice, SOTHEBY'S NEWS, The good, the bad & the ugly on building your first home.

by steamboatsir | Jul 29, 2021 If you’ve tried to buy or sell a property in Steamboat over the last six months, you may have noticed the market is drastically different than it was just a few years ago. Multiple offers, bids over asking price, and properties that are selling in a matter of days or even hours, characterize a market that is highly competitive. Market activity in the first half of 2021 has been unprecedented in every category in total sales volume and number of transactions. “I’ve been licensed since 1992 and never seen anything like this before,” says Jill Limberg, Managing Broker, Steamboat Sotheby’s International Realty. With a large influx of buyers and not a lot of inventory, the market can be a little trickier to navigate. “It’s the old supply…

14Jun 2021 by Olson | Tolan Team Blog

HOW MUCH HOUSE CAN YOU AFFORD: ROUTT COUNTY SINGLE FAMILY HOME MARKET SURGES

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK, SOTHEBY'S NEWS, STAGECOACH

by steamboatsir | Jun 16, 2021 Last year set real estate records in Steamboat as the pandemic accelerated what was already a market experiencing increased demand and low inventory. With Steamboat Resort announcing it’s $180 million renovation at the base area and terrain expansion that will make the resort the second-largest in Colorado, demand will continue to grow. Over the past year, real estate within the town limits of Steamboat Springs has seen a phenomenal increase in activity and appreciation. One must wonder what is happening in the communities surrounding Steamboat – have single family homes fared better or worse? There are surprising results… The Steamboat Springs Multiple Listing Service, which primarily covers Routt County, uses several geographic regions to help categorize market activity. Steamboat Springs typically captures two-thirds of the MLS market…

20May 2021 by Olson | Tolan Team Blog

3 Reasons to Hire a Seller’s Agent

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK

If you’re selling your home, you should expect a list of expenses. The commission you pay the seller’s agent is usually one of the biggest, around 6% of your home’s selling price. This pays for the valuable work your seller’s agent, also known as a listing agent, does for you: preparing the home, marketing it, showing it to potential buyers and helping you through the selling process. Some owners try to save money by not working with an agent and listing their homes “for sale by owner.” But FSBOs, as they’re known in the trade, require time, effort and real estate know-how. FSBOs also incur their own expenses, ones that people who hire listing agents don’t have to pay. For most homeowners, it pays to hire a listing agent. Here’s why: Getting the price right An…