Helpful Advice – Page 2 – The skinny on Steamboat Springs real estate.

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…

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…

08Jul 2021 by Olson | Tolan Team Blog

FIRE PROOF: 4 WAYS TO PROTECT YOUR HOME FROM WILDFIRES

ENVIRONMENT, Helpful Advice, HOME BUYER HANDBOOK

by steamboatsir | Jul 8, 2021 With the increasing occurrence of wildfires throughout the Rocky Mountains and all over the western U.S. in the last few years, homeowners are taking stock of their insurance policies and looking at proactive measures to mitigate fire risk. The drought conditions in Steamboat Springs have led to wildfires that are uncomfortably close to many who own property in Routt County. The two wildfires burning in our area – the Muddy Slide fire in South Routt and the Morgan Creek fire in North Routt – are currently under control, but it’s important to make sure that property owners know how to take precautions to ensure that they are covered in a worst-case scenario. “One of the most important things people can do is make sure that the replacement…

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…

25May 2021 by Olson | Tolan Team Blog

FROM PILLAR TO POST: EVERYTHING YOU NEED TO KNOW ABOUT BUILDING YOUR DREAM HOME

Design Trends, Helpful Advice, HOME BUYER HANDBOOK

by steamboatsir | May 25, 2021 After a potentially long and arduous search, careful due diligence, and maybe a hectic or stressful purchase process, you’ve finally purchased your slice of land in Routt County. To the uninitiated buyer, the next step, how to actually get your house designed and built, can be daunting, with a myriad of unanswered questions and a nebulous idea of where to start. The Broker will likely have painted some manner of background picture about the process so that the new owner is not completely in the dark. The big question – which comes first…the builder or the architect? Chicken or egg? There are multiple project delivery mechanisms available. Ultimately the owner must choose an approach with which they are most comfortable after considering the pros and cons of…

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…

01May 2021 by Olson | Tolan Team Blog

Finding a New Home for Your Next Stage of Life

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

Imagine the first place you lived as a young adult. Now imagine trying to fit your life today into that space. Not pretty, right? For most of us, our housing needs are cyclical.1 A newly independent adult can find freedom and flexibility in even a tiny apartment. That same space, to a growing family, would feel stifling. For empty nesters, a large home with several unused bedrooms can become impractical to heat and clean. It’s no surprise that life transitions often trigger a home purchase. While your home-buying journey may not look like your neighbor’s or friend’s, broad trends can help you understand what to keep in mind as you house hunt. No one wants to regret their home purchase, and taking the time now to think about exactly what…

13Apr 2021 by Olson | Tolan Team Blog

WHAT DEFINES STEAMBOAT STYLE?

Design Trends, Helpful Advice, HOME BUYER HANDBOOK, STEAMBOAT LIFE STYLE

by steamboatsir | Apr 13, 2021 Gone are the days of traditional mountain home interiors, demarcated by iconic references like log, stone, and antlers. With the influx of home buyers from all over the country, “Steamboat style” is no longer defined by a Ralph Lauren ideal of the American West. “Our niche is change,” says Olivia Kimmeth, a Steamboat-based interior designer and owner of Olivia’s Home Furnishings. “With people who are moving here from all over the country, our definition of mountain modern has changed, and we have to change with it.” Olivia asks her clients to start the design process using Steamboat’s beautiful surroundings as inspiration. “When clients ask me where to start, I have them take a moment to look out at the mountains. That is our canvas. That’s why people…

01Apr 2021 by Olson | Tolan Team Blog

Can I Buy or Sell a Home Without a Real Estate Agent?

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

Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for homes in the most sought-after neighborhoods. This has led some sellers to question the need for an agent. After all, why spend money on a listing agent when it seems that you can stick a For Sale sign in the yard then watch a line form around the block? Some buyers may also believe they’d be better off purchasing a property without an agent. For those seeking a competitive edge, proceeding without a buyer’s agent may seem like a good way to stand out from the competition—and maybe even score a discount. Since the seller pays the buyer agent’s commission, wouldn’t a do-it-yourself…

17Mar 2021 by Olson | Tolan Team Blog

TWO THINGS TO KNOW ABOUT HOMEOWNERS ASSOCIATIONS

BUYING AND SELLING REAL ESTATE, Helpful Advice

Owning a home isn’t always a happily-ever-after story. On any given day, you might deal with a leaky roof, a weedy lawn or a bad neighbor. Homeowners associations can help with these inconveniences. HOAs are governing bodies found within common-interest communities, such as planned or gated neighborhoods and apartment or condominium buildings. They’re run and funded by residents, and have boards of directors that organize regular meetings, establish and maintain budgets, and enforce rules and regulations. When they work well, HOAs can increase property values by ensuring that their communities stay visually appealing — no rusting Oldsmobiles on front lawns, for example. When they don’t work well, whether because of high fees or poor management, they can make owning a home a bureaucratic pain. To decide whether you should buy a home in a…