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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.

Michelle Avery earns top producer for 2008

Michelle Avery earns top producer for 2008

Michelle Avery is the Coldwell Banker Silver Oak, Ltd. top producer for 2008. Last year marked the 15th consecutive year that Avery has earned the distinction.

Avery said most of her sales in 2008 were attributable to full-time Steamboat residents seeking to move up.

"That's really been my buyers the last year," she said. "A lot of locals moving around."

A significant number of Steamboat area residents who would like to move closer to town are waiting for their current homes to sell before they can take action, Avery added.

She observed that in 2008, it was possible to purchase a 3,500-square-foot home in the West Steamboat subdivision of Silver Spur for less than one could probably pay to purchase a lot and build on it. Still, there was little movement in the neighborhood last year, Avery said.

High-end buyers seem to be more confident right now, Avery said. But even in that market, people want to hang on to their cash, and jumbo loans are increasingly difficult to obtain.

Avery was showing downtown condominiums during Winter Carnival weekend to a client who already owns two homes here.

She has two closings scheduled for this week, including a Meadowlark condominium.

Avery predicted that when the real estate market ultimately turns around it will "turn on a dime."

"I predict this: In a few years we'll be hearing people say, 'We should have bought in 2009,'" Avery said.

No new construction permits in January

The Routt County Regional Building Department issued eight building permits in Steamboat Springs in January, but none of them were for new construction.

All eight of the permits issued last month with a combined valuation of $644,747 were for alterations and additions.

Although the Building Department conducted 495 inspections last month, January usually is a slow month for issuance of building permits. The department, which covers all of Routt County, issued 13 permits in Steamboat, including one for new construction in January 2008. The combined valuation was $6.46 million. January 2007 saw 12 permits issued including three for new construction. The combined valuation was $1.6 million.