Red Bell Ranch in Strawberry Park sells for $5.7 million
March 21, 2014
Steamboat Springs — In one of the largest real estate transactions in the past couple of years, Red Bell Ranch in Strawberry Park recently sold for $5.7 million.
The 119-acre property boasts expansive views and a luxurious home completed in 2007 that blends reclaimed barn timbers that are more than a century old with new, sustainable touches such as recycled denim insulation.
Listing agent Penny Fletcher, of Colorado Group Realty, said the home has been on the market since 2011 but that the marketing for the property brought in interest from around the world with five offers eventually being made.
The ultimate buyers were represented by Nick Metzler, of Colorado Group Realty.
Metzler said his clients wanted a lot of acreage but didn't want to compromise on the quality of the house.
The home is nestled into its environment, Fletcher said, while being only three miles from downtown Steamboat Springs.
The reclaimed beams from an Ohio barn have the original ax grooves in them and complement old stone walls and Venetian plaster. Recycled denim is matched with additional soy-based insulation for a health-conscious environment.
The home has excellent spring water but also incorporates a top-of-the-line filtration system and air purification and humidifying systems.
Surrounding the home are waist-high ferns and aspen forest with trails cut by the previous owner. The property also borders more than 200 acres of Bureau of Land Management land.
Looking across at the Continental Divide, Buffalo Pass and Steamboat Ski Area, Metzler said, you definitely know you're in the Rockies.
It's hard to find a comparable home near Steamboat, according to Fletcher.
Metzler agreed that luxury homes of this stature are somewhat rare on larger parcels.
Thirty-acres just isn't enough for some buyers.
In a separate more recent transaction, Metzler represented the buyers of Five Hands Ranch, which had 200 acres, a home with more than 4,800 square feet and went for $2.7 million.
"Both of these had very nice homes on them plus all the land," Metzler said of the Red Bell Ranch and Five Hands Ranch sales.
Red Bell Ranch has a more mountainous feel and is at a higher elevation that Five Hands Ranch, which feels more agricultural or pastoral, Metzler said.
There are still many nice homes ready to sell at less than replacement cost, he said, but buyers get very specific in the more than $2 million price range.
"They're looking for something; they have something in their heads," Metzler said.
At Red Bell Ranch, he said, it would be hard for anyone to second-guess the floorplan or decisions that went into its construction.
"It really just hit on all the notes," he said. "I don’t know what you’d do different."
The home was originally priced at $12.8 million in 2011, Fletcher said, at a time when there were no comparable properties to price it against.
"We were just kind of making a stab out there and trying to determine what value was," she said, adding that the ability to subdivide the property and desirability of smaller Strawberry Park lots was taken into account.
The final price of about $650 per square foot still presented value when compared to the construction and land costs invested in the home, according to Metzler.
"The best homes are slowly going away," he said.