Saturday, August 28, 2004
Platted more than 20 years ago, the Horseback at Stagecoach subdivision is slowly becoming what original developers may have hoped for: a place where residents can meet their dreams of quiet mountain living.
But the development of the subdivision could end up considerably different from what early developers imagined.
New buyers have grouped a portion of the 240 lots in the original subdivision into parcels of land, giving buyers the option to be developers or build a single home surrounded by acres of meadows, aspens and pines.
John Hanley, who owns 10 of the parcels, is among buyers who have purchased land in the subdivision since the original buyer's vision for the development plummeted in bankruptcy.
Hanley is selling the parcels, which range from 5.21 acres to 10.21 acres. Each property comprises between five and 10 individual lots between a half-acre and a full acre in size. Several lots also are zoned for more than one residence.
Priced between $89,000 and $199,000, the parcels could be attractive to developers wanting to develop each individual lot within a parcel or parcels. But the land also offers buyers the opportunity to create a single building site with a lot of elbow room, said listing broker Dave Moloney of Prudential Steamboat Realty.
About six homes have been built in the overall subdivision, which is on the east side of Routt County Road 16, about five miles past Stagecoach Reservoir.
The Horseback properties also are a potential investment opportunity for those interested in building a single home and allowing it to accrue in value along with buyers' interest in the Stagecoach area, Moloney said.
"If things keep going the way they have been in the area, five, 10 or 15 years from now, it could go up considerably in value," he said.
Subdivision roads are in place, but because there are various potential uses of the property and it is difficult to predict what a potential buyer may want, Hanley has not brought in utilities. He has left options open for future owners and will work with them in accomplishing whatever objectives they may have, Moloney said.
Most of the properties are near electrical lines and buyers may tap into water lines, which are close to some parcels, or dig wells, depending on their development plans.
Because most parcels are not close to existing sewer lines, it would be most economical to dig a sewer system and leach field for single building sites on the properties.
In the case that a buyer wants to develop individual lots, they would have to install self-contained vault septic systems for each home, Moloney said.
For more information or to schedule a showing, call Moloney at 846-5050.
-- To reach Tamera Manzanares call 871-4204 or e-mail email@example.com