On the Market: Hodges joins Prudential Steamboat Realty

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Rick Hodges

— Rick Hodges, a 22-year Steamboat Springs local, has joined Prudential Steamboat Realty as a full-time Broker Associate.

"The main reason I was attracted to Prudential Steamboat Realty is their superior client customer service and their dedication to being the top real estate office in Steamboat" as delineated by their hold on market share, Hodges said.

Owner of The Window Man professional window cleaning service since 1994 and Summit Haus Properties spec building since 1999, Hodges comes to Prudential with a lengthy background in new construction. His knowledge of home building coupled with his insights on property location and cost comparisons proves to be helpful in educating potential clients.

Routt County home sales exceed 150 on July 31

The number of residential properties sold in Routt County as of July 31 topped $100 million on 152 transactions.

Bruce Carta, of Land title Guarantee Company, reported that, of the total transactions, 83 were priced less than $500,000. Together, they accounted for $26 million of the total. There were 33 home sales at prices greater than $1 million as of the end of July. They accounted for a combined $48.9 million.

Developer Ginn bows out of Minturn ski area

The Vail Daily's Scott N. Miller reports that Minturn developer Bobby Ginn has passed the torch:

Florida-based developer Bobby Ginn has given up his stake in a proposed private ski resort at Battle Mountain. Crave Real Estate Ventures will take over the project. Crave is part-owned by Lubert Adler, the Philadelphia-based private investment company that financed the Battle Mountain project.

In a letter to Minturn town officials, Crave representative Dave Kleinkopf wrote that he'll take over day-to-day operations at the project.

Comments

Scott Wedel 5 years, 3 months ago

So it took until July 31 to have almost as many sales as a typical month in 2007.

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Scott Wedel 5 years, 3 months ago

Clarification: So it took until July 31 for 2009 to have almost as many sales as a typical month in 2007.

At this rate, the busiest month during the peak will have been busier than all of 2009.

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Scott Wedel 5 years, 3 months ago

This area is not going away. It will come back.

But this downturn is not like recent dips in which the local real estate market was in a reasonable state when there was a short lived national recession and so it quickly recovered.

This time we had a huge speculative bubble with a tremendous amount of spec homes built into the deepest recession in decades which included a financial crisis that also hurt the wealthy.

This is more like the 70s in which lots of condos were built and zillions of lots platted.

This area will recover. It will just take four or five years. A big part of the recovery process is going to be foreclosures and subsequent sales by the bank that will set market prices. Expect prices to be 35% less than the peak of 2007.

I expect that featured property offered at $3.99M to eventually sell for $3M if a buyer is found, or $2.5M if foreclosed and then sold by the bank.

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seeuski 5 years, 3 months ago

Definition of Nutters-- The stimulus is working. Definition of Nutters-- It created or saved 1,000 jobs. Definition of Nutters-- Government healthcare will save money. Definition of Nutters-- ACORN benefits anyone but the powerful. Definition of Nutters-- The Presidency is transparent. Definition of Nutters-- Profit is greed. Definition of Nutters-- Big Government is efficient. Definition of Nutters-- They ignore all of Obama's czars. Definition of Nutters-- We want Unions like SEIU to take over. Definition of Nutters-- The sky is falling and the oceans are rising Definition of Nutters-- Taxes are too low.

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housepoor 5 years, 3 months ago

Definition of Nutters - someone who becomes obsessed with a local newspaper forum who cannot resist posting every 15 minutes 7 days a week.....get a life, put all that energy to something productive

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