Archive for June 2016

Mortgage Rates at 3 Year Low

Fish Creek Meadows

Fish Creek Meadows

Mortgage rates have dropped again, which is good news for buyers looking to finance new Steamboat Springs real estate purchases.  About half the real estate sales in our area are financed.  The other 50% pay cash, pull money out of their primary residences by refinancing or getting a home equity loan, borrow against brokerage accounts, or use other creative financing options.

This week’s national rates are:

  • 3.54% for conventional 30 year financing
  • 2.81% for 15 year financing
  • 2.74% for 5 year ARMs

Buyers in Steamboat need to be aware that our resort market sometimes comes with different rules, so it’s a good idea to call us at 970-819-6372 to talk about financing.  For example, some condos do not qualify for conventional Fannie Mae financing so you may have to use an ARM or a local Steamboat lender.

See all properties for sale here, and call us if you are planning on borrowing money for your purchase.  We can often save you a lot of time.

Honeysuckle Building Site Near Yampa Reduced $50,000

This amazing building site has just been reduced to $250,000, so please call us at 970-819-6372 for more information or to walk the property.  Click here for full details.

Honeysuckle Homesite Price Reduction

Single Family Home Sales in Steamboat March-May 2016

Single Family

2016 Q1 results are in thanks to Land Title, and it’s no surprise that prices are up. Here are general trends comparing the 1st quarter of 2016 to the 1st quarter of 2015 in Routt County:
* Average Residential Price up 28.43%
* Gross Sales Volume up 10.61%
* Real Estate Transactions down 1.65%
* Buyer Profile: 54.42% local, 9.29% Front Range, 36.28% Out-of-State

In March thru May 2016 there were 38 Single Family home sales in Steamboat Springs with the most expensive being a $2.3 million home sold at Burgess Pines. This was one of six properties that sold for over $1 million in that time frame.

The average price for single family homes was $801,000 according to the Steamboat MLS.

See the homes that sold below, and call us at 970-819-6372 with your questions:

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