The Jon and Susan Been home overlooking Strawberry Park from 10 acres on Tatanka Ridge sold to Jack and Mary McClurg, of Lone Tree, on April 10 for $2.5 million, $600,000 less than what the Beens paid for the property in late June 2006.
The listing broker was Nick Metzler, of Colorado Group Realty. Cheryl Foote, of Prudential Steamboat Realty, brought the buyers to the transaction.
"If somebody gave you the land, you still couldn't replace the house" for $2.5 million, Metzler said. "They easily put another half million into it."
Foote said the McClurgs were new clients looking for a second home in the range of $1.5 million. However, they were seeking a home where they would never have another house in their views.
That limited many of the fine homes in The Sanctuary and Dakota Ridge.
"It was just an unbelievable value for my clients," Foote said. "I was beyond thrilled for them."
The home was purchased completely furnished with invoices showing the furniture was valued at more than $500,000, and the sound system and TVs were valued at more than $100,000, Foote added.
Metzler cautioned against drawing conclusions about the overall luxury home market based on the discounted price for the 8,536-square-foot home (7,860 square feet of livable space) on the Buffalo Pass Road.
The home originally was listed at $3.85 million and subsequently dropped to $3.1 million, and more recently $2.85 million.
Metzler said his clients were strongly motivated to sell the home but that it wasn't about financial duress.
"They were getting 10 days of use a year out of basically a new home, and they felt badly about it," Metzler said. "They were intent on selling, and that feeling became stronger. They owned it free and clear, and they had the money to take care of it."
Metzler said the owners understood that the market here had shifted, and he surmised that they were focused on an opportunity elsewhere, and taking the loss didn't deter them.
"Occasionally, you get a seller who is determined, but most aren't going to do that," Metzler said. "We shouldn't expect more of that in the future.
The home has five bedrooms and five baths and came with an oversized RV garage at Hayden Airport Garages adjacent to Yampa Valley Regional Airport. Ironically, the McClurgs typically fly their own airplane into Steamboat Airport.
A towering fireplace dominates the great room of the home, and a landing that looks down into the living area rims the second floor.
Foote said the McClurg's, originally looking for a second home, are thinking of making this their primary residence.
Curious about the derivation of the word Tatanka? Rent a DVD of the film "Dances with Wolves" featuring Kevin Costner, and the answer will be revealed.