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
Colorado Group Realty has hired Jessica Leon-Guerrero to oversee design, art work and brand identity for the firm.
Leon-Guerrero has been a resident of Steamboat Springs since 2006 and is a graduate of the University of Arizona, with a bachelor of fine arts degree in editorial illustration and visual communications.
She has worked in advertising and design for a broad range of clients and most recently was a member of an award-winning in-house marketing team for one of Colorado’s top financial companies.
“We are pleased to be able to bring a design and art director of Jessica’s caliber to the CGR team,” owner Shelley Stanford said. “We are excited about integrating Jessica’s creativity and past experience into the CGR brand.”
Tormey says demand is outpacing local supply
Bruce Tormey, of Ski Town Realty, reports that he sees signs that Steamboat’s real state market is on the road to recovery, barring negative influence form the national economy.
Historical data shows that “supply peaked about a year ago and since then the number of properties on the market has fallen and the number of pending (under contract) properties has increased,” Tormey wrote in a recent blog entry. “The ratio now is about 5 percent and needs to be between 10 to 15 percent for the market to be stable.
“This movement can come very fast; look at the January 2008 jump with the Intrawest purchase. The fastest it will probably happen now is within four to five months and could take a year plus. Demand has been outpacing supply for a year now, and we are slowly digging ourselves out of inventory abundance. Our slow real estate recovery began a year ago and at this pace in one year from now market demand and supply will be at the price equilibrium point and prices will go up from there.
“The national market is on the mend and shouldn’t slow down the Steamboat Springs’ real estate recovery. It is possible that Steamboat will reach a price stable point by year-end but more likely it will be next spring. The chance of the market stagnating through 2011 is very small.”
The rest of Tormey’s market analysis can be found at: http://skitownrealty.wordpress.com/