The Ranch at Steamboat sees flurry of sales
October 2, 2013
Steamboat Springs — The Ranch at Steamboat originally was marketed as a luxury resort in 1981, General Manager Peggy Rogers said, and some of the original advertisements full of cowboy themes mixed with luxury furs and other garb still are hanging around the place.
It still has a full set of amenities and a tight community of owners, she said, but following the real estate bust, units were selling just about as well as other luxury condos of the era: slowly.
That is until August, which marked a flurry of activity at the mountain area property.
There were three sales in August and September between $300,000 to $385,000. Another three are expected to close in the next couple of weeks, Rogers said.
"The Ranch is kind of a unique place," she said. "We have a lot of green space up here."
The owners at the project even took the step of purchasing additional land and putting it into a conservation easement, according to Rogers.
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"People feel like they're in the mountains," she said.
Rogers said The Ranch attracts second-home owners, a majority of whom tend to be in their early 50s and are looking for a place to retire.
About half the project is in the nightly rental pool, Rogers said, which is managed by Mountain Resorts. Many others tend to spend a few months at their units during winter, then come back for the full summer, she said.
"We have a nice sense of community," Rogers said. Owners "see each other when they're not in Steamboat."
In addition to typical resort amenities such as a swimming pool and tennis courts, The Ranch also has a conference center and onsite catering, which sets residents’ needs as a first priority.
The recent flurry of interest is coming after the Steamboat Springs Board of Realtors started meeting at The Ranch, Rogers said.
"I think that the real estate community has become very familiar with" The Ranch, she said.
"It's a very pretty property and a great setting. We're up here with the million-dollar homes."