Storm Mountain Ranch developer sells home for $5.3 million
June 4, 2011
Storm Mountain Ranch breaks new ground
Jeff Temple and his brother Jamie turned heads in Steamboat Springs in 1998 and established a new market category when they created just 14 home sites on a 1,063-acre ranch just south of the city limits and relied on trout fishing rather than golf as the principle amenity. They sold all of the lots at prices up to $2.5 million.
Steamboat Springs — Storm Mountain Ranch developer Jeff Temple and his wife, Kim, have sold their home on Water Song Lane on a prime 70-acre tract fronting the largest pond in the development for $5.3 million.
Coincidentally, they also have bought a new home in Mountain View Estates owned by a couple who had put it up for sale as they relocated to Storm Mountain Ranch.
"We really feel fortunate," Temple said. "I got a fair price. And the sale, with the price per square foot, shows the value of a shared ranch community. It's a big accomplishment."
The 4,855-square-foot home sold for the equivalent of $1,091 per square foot, albeit on twin 35-acre lots at Storm Mountain. Temple represented himself in the sale and in the couple's new home on Meadowbrook Circle, close to Fish Creek.
Buyer's broker Karen Hughes, of Prudential Steamboat Realty, said her client had been looking for two years and his goal was to downsize his existing Steamboat home onto a larger parcel of land.
"He's a very patient buyer, and it had to be right or he wasn't moving," Hughes said. "It had to be less than 5,000 square feet on 35 acres or more. He wanted water, and he's right on the beach with his own boat dock. He's an angler, and his wife likes horseback riding. It's a perfect lifestyle choice for them."
They had previously looked at a ranch off Colorado Highway 131 in South Routt County and at a property at Lake Catamount.
She said her client acted when the price was reduced a second time to $5.7 million, and the deal was put together within a week.
The home is all on one level with a family-style floor plan, and the home is easy to maintain, Hughes said. It has a high level of finishes but succeeds in looking unpretentious.
"It's a house you can make a home," she said.
The Temples wound up moving to a larger home on fewer acres. They paid $1.85 million for a 5,343-square-foot, six-bedroom home on
0.9 acres owned by Shafer Henry and Heidi Geiger-Henry. The home was listed by Hughes' Prudential colleague Colleen De Jong.
De Jong said the price on the home had been recently reduced to seemingly the magic number that stimulated buyers' interest.
"All of a sudden we had a lot of showings, and we actually got three offers," De Jong said.
Temple said he hadn't made the connection between the Henrys, his neighbors in Storm Mountain and the house on Meadowbrook until he began to focus on it.
"I keep an eye on listings because I'm a Realtor," Temple said. "I saw it on the market and didn't think that much about it. We needed to sell before we bought our new home, so when there was an agreement in place, we began looking really hard. This is a great neighborhood for our kids."
The Temples' new house had previously sold for $2.135 million in 2001 and is noteworthy for a circular entry drive set back from a quiet street, where Fish Creek is audible this time of year.
To reach Tom Ross, call 970-871-4205 or email tross@SteamboatToday.com