On the Market for April 13

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On the Market

Tom Ross' On the Market column appears Sundays in the Real Estate section of the Steamboat Pilot & Today. Contact him at 871-4205 or e-mail tross@SteamboatToday.com.

Market sweet spot

Although the number of homes here priced less than $500,000 is dwindling, the single largest category in terms of February transaction volume was homes priced between $300,000 and $500,000.

Bruce Carta at Land Title Guarantee Co. reports 20 sales of residential improved units in that price range. Another half-dozen sold below $300,000. Six more sold for prices between $500,000 and $600,000. Sales of 10 homes priced higher than $1 million closed during February.

Downtown lodging sales tax

Sales taxes collected on downtown lodging in February jumped 50 percent, producing one of the highest totals in the post-Sept. 11 era when, coincidentally, some historic properties began closing to undergo redevelopment.

Downtown lodging taxes in February hit $15,340 compared to $10,382 for 2007. Downtown lodging taxes fell as low as $8,639 in February 2005, after peaking at $22,642 in February 2000.

RIO changes leaders

George Greenberg Jr. has announced he is building a boat to sail the South Pacific and is handing off the role of managing partner in his full service real estate brokerage in Steamboat, RIO (Real Estate Investment Opportunities) to partner Kevin Dyche.

Greenberg said he founded the first RE/MAX agency on Maui, RE/MAX Mana Kai, in 1991. He dealt with all segments of the real estate industry there, except for development.

After moving to the mainland more than a decade ago, Greenberg founded Fast Action Realty in Boulder with a presence in Steamboat in 1996.

In spite of his ocean sailing ambitions, Greenberg intends to remain active in RIO on a referral basis.

Nicole Risova is a broker in RIO's office in Steamboat. The staff at RIO can be reached at 870-0538.

March permits

The Routt County Regional Building Department reports it issued permits for nine dwelling units in March. They include two-single family homes with a combined valuation of $2.85 million, two duplex units valued at $1.73 million and five multi-family units valued at $1.48 million.

Rural Routt County, with the towns of Hayden, Oak Creek and Yampa combined for 12 residential permits last month including five single family homes valued in aggregate at $2.75 million. There were five multi-family units permitted in a $931,964-dollar project. There was one duplex building with two units valued at a combined $3.5 million.

There were no permits issued for industrial or commercial buildings issued in Routt County or Steamboat Springs in March.

The department conducted 568 inspections in Steamboat in March. That number was up from 484 in March 2007.

Month to date valuation totals for Routt County are up substantially from $8.75 million in 2007 to $21.9 million at the end of March 2008. Month to date valuation totals are also up in Steamboat, form $10.32 million in 2007 to $19.5 million through March 2008.

Call Tom Ross at 871-4205 or e-mail tross@steamboatpilot.com

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