Friday, November 11, 2011
Steamboat Springs A number of sales have been returning to the new construction luxury condos at One Steamboat Place this fall and the four-bedroom, 2,420-square-foot home that sold Oct. 6 worked out to the equivalent of $838.84 per square foot.
Stan Urban, of Land Title Guarantee Co., said that although Routt County’s October dollar volume was off more than 23 percent to $31.64 million last month during the same month in 2010, there were some mitigating factors.
“All of the difference is in interval closings, which were significantly lower than last month,” Urban said. And the number of bank sales dropped to six in October compared to 18 in September.
The combined value of interval shares last month was $2.58 million on 33 deals.
Still, there’s no way to overlook the fact that October’s dollar volume was the lowest in at least eight years of Octobers. And last month’s drop came on top of a 30 percent drop to $35.3 million in September. Year to date, dollar volume is pacing 15.7 percent compared to the first 10 months of 2010, according to Urban’s research.
Transaction volume has been off steeply for four months in a row despite strong interest in distressed properties and value buys below $200,000. October was off 43.75 percent in transactions after a drop of 34 percent in September, 50.55 percent in August and 62.9 percent in July.
Last year finished up with $512 million in sales volume. That number won’t be matched in 2011 barring a major surge in sales — year to date totals with two months remaining in 2011 stood at $362.8 million. The local market will need to break $80 million in November/December to eclipse 2009 volume of $439.77 million.
Coldwell Banker offices in Steamboat, Vail to merge
Coldwell Banker Distinctive Properties, with offices in Steamboat Springs and Sun Valley, Idaho, has announced its merger with Coldwell Banker Timberline Real Estate, a mainstay in the Vail and Beaver Creek real estate markets for more than 20 years. The merge increases the company’s size to three offices.
Coldwell Banker Distinctive Properties is a full service real estate brokerage providing sales, property management, rental, and concierge services in resort markets.
The addition of the Vail office brings Coldwell Banker Distinctive Properties to a total of 41 agents, with nearly $100 million in annual sales.
“I am thrilled to be part of Vail and Beaver Creek markets,” Todd Conklin, CEO of Coldwell Banker Distinctive Properties, said. “When the opportunity arose to be part of one of the oldest and most successful real estate companies in the area, I jumped at the opportunity. To be involved with such a powerful brand that continues to innovate and attract consumers and brokers around the world gives me and the Coldwell Banker Distinctive Properties associates an advantage.”
Karen and Mix Beauvais started the first Coldwell Banker office in Steamboat Springs in 1988 as Coldwell Banker Silver Oak. Their first office was located on Mount Werner Circle and from there, they moved into the old post office building on Lincoln Avenue in downtown Steamboat Springs.
Coldwell Banker Timberline Real Estate was founded in August 1988 and has participated in more than 4,500 real estate sales over the past 22 years.
Prudential Realtors land statewide agent honors
Prudential Steamboat Realty agents Pam Vanatta and the Vanatta Group, as well as Stephan Baden were recognized in the third quarter as top agents for the state of Colorado in the Prudential Real Estate Network for residential sales.
Stephan Baden ranked third in the state among Prudential agents for total number of residential units sold.
Pam Vanatta and her group of agents (Heidi Flint, Mark Dudley and Anne Mayberry) achieved a second-place ranking in Colorado for gross residential commission income.
“To achieve statewide recognition despite a challenging real estate market in a relatively small mountain town shows absolute determination and commitment. We’re fortunate to have an entire team of such people,” Cam Boyd said. He is a broker/owner of Prudential Steamboat.