The Routt County real estate market saw a pair of properties sell for $1.8 million each in the last seven days, and single-family homes of more than 2,000 square feet in Yampa and the Steamboat Lake area sell for bargain prices of less than $150,000.
However, the sales that stood out were closings for single-family homes in the middle of the range on Steamboat’s west side.
One of the $1.8 million deals was for a homestead in Marabou that confirms there still is a market for luxury ranch homestead with high-end amenities. The other $1.8 million deal was for a 6,600-square-foot spec house perched above the South Valley in Elk Walk.
I’ve toured this home and believe me, it was one of the best deals of this year or any year at a little less than $273 per square foot.
But if you’re looking for a price point and product category where things might be turning around, it could be single-family homes in Steamboat II, Silver Spur or Heritage Park.
There were two sales this week of single-family homes, one in Steamboat II and another in Heritage Park that saw them go for more than they sold for just a few months ago.
The small home in Steamboat II (1,384 square feet and three bedrooms) sold for $285,000. Why is that noteworthy? It sold for $85,000 less in May 2011.
The home in Heritage Park comprises 3,516 square feet and offers five bedrooms. It sold for $437,000 on Aug. 2 after selling for $319,500 in January.
State leases large Weld County parcel for energy
The Colorado State Board of Land Commissioners has leased 5,638 acres of oil and gas rights in Weld County to a subsidiary of Bonanza Creek Energy Inc. The agreement will bring nearly $60 million to the Land Board over a five-year period, funds that will go to benefit K-12 education in Colorado, according to the Department of Natural Resources.
Located in a producing oil and gas area which overlays the Niobrara formation, the State Land Board recently offered these parcels, known locally as the 70 Ranch property, through a sealed- bidding process. The winning bid from Bonanza Creek was selected in part because of the bonus price offered for the acreage, but also because the company is operating on adjacent lands and has already developed infrastructure with access agreements in place.
Bonanza Creek has been active in the Greater Wattenberg field for more than a decade and has drilled more than 250 wells in the region.
The nearly $60 million in aggregate bonus payments from the offering marks the latest in a series of significant transactions for the State Land Board. In March, the Land Board agreed to an oil and gas lease with ConocoPhillips on 21,000 acres of land in unincorporated Arapahoe County on the Lowry Range. In that agreement, the Land Board earned a bonus payment of $137 million. A bonus payment is a one-time payment to obtain a lease. It comes on top of annual lease payments and $6,500 per acre for a total value of $137 million.
Whole Foods is hiring 60 employees for Basalt store
Whole Foods Market will open a 26,000-square-foot store to serve the Aspen area in Basalt by the middle of this month.
A brief version of Scott Condon’s story for the Aspen Times follows:
The space at Willits Town Center is the tale of two puzzles right now. Specialty coordinators out of Whole Foods’ regional office are stocking shelves with goods that aren’t time sensitive. The produce, meat, seafood, dairy, bakery and prepared-foods sections will remain bare until closer to the opening. Meanwhile, construction crews flit around the inside making final adjustments.
Roughly 60 jobs were created and filled by Roaring Fork Valley residents. There were 250 applicants. Those hired are going through training now.
Rocky Mountain Regional President Will Paradise said he liked what he saw while touring the Willits store Tuesday afternoon. He said some observers have asked him why the company is opening a store that’s only 26,000 square feet. He said it’s the perfect size for the Roaring Fork Valley market at this time.
Whole Foods initially planned a grocery store that exceeded 40,000 square feet. Plans changed when the recession hit. A Chicago firm that was former owner and developer of Willits Town Center twice failed to meet conditions of a contract to deliver the shell of a building to the natural grocer chain.