Cam Boyd Blog

I went for a nice long bike ride yesterday morning down 20-mile road and beyond. It was a crisp, clear Yampa Valley day and the weather & temperature were perfect. It was so refreshing to get away from my desk, forget about work for awhile and just ride. What a difference in attitude I began to experience!

As I traveled, it didn't matter where I was going or how fast I rode.  I was peddling for the pure sake of it and enjoying every minute.  I began to see things that I tend to miss in my every day rushing about.  It's like that in our offices sometimes, isn't it?  Crunched for time and working diligently to move ourselves towards whatever personal goals we've set.  But in doing so we tend to move with our blinders on, don't we? 

It's no secret that we find ourselves in the midst of challenging times.  To get through it, we need to have a roadmap and work in a methodical way.  But every once in awhile we need to exit the crazy path we're on and look around for any opportunities that exist outside of the narrow path we've been following.  This week, for even an hour or two, get on your bike (or whatever calming device you choose) and look at your life and work with fresh eyes.  See if you can discover some new opportunities to develop and grow that you may have been missing because you're too focused on other things.  Being focused is often good, but not if lose sight of the big picture.  Sometimes it's good to un-focus, so that you may once again see things more clearly. 

With the current economy on everyone’s mind these days, there is no wonder why home buyers are now wondering if this is the best time to buy or not.  Prudential Steamboat Realty hopes to shed some light on the subject by offering another FREE SEMINAR.

You’re invited to the upcoming “Turn of Events” buyer’s seminar where we will be explaining how the recent economic events have opened the doors of opportunity for today’s real estate buyers.  This will be an insightful look at the historical trends and the impacts they are having on the Steamboat Springs real estate market.

BUYING IN TODAY’S MARKET

WEDNESDAY, JUNE 24^th

4:00-5:30pm

STEAMBOAT COMMUNITY CENTER

Space is limited so please pre-register with us if you plan to attend:  970.879.8100 or contact@prudentialsteamboatrealty.com

Looking forward to seeing you there!

Advanced booking reservations for Steamboat lodging this summer seem to show the tell-tale signs of a sluggish economy.  The Steamboat Springs Chamber Resort Association reports that lodging numbers could end up anywhere from 10-40% down this summer.  With so many travelers booking closer in and looking for supreme deals, actual lodging numbers are extremely tough to predict right now.

With all the hullabaloo over the Triple Crown Sports organization and their place in the overall Steamboat summertime event schedule, it appears that much of the local economy is depending on these tournaments more than ever.  With event markets such as weddings and family reunions diminishing, Triple Crown now makes up the majority of summer bookings for many lodging companies.  Triple Crown plans to bring roughly 400 baseball and softball teams to Steamboat this summer.  The first tournament of the season is this weekend.  

The attached report is a market analysis from Standard & Poor's.  It's an interesting take about what to read into the statistics you hear regarding the current market.  As we all know, "Beauty is Only Skin Deep."

In Steamboat, we're seeing an increase in showing activity and the true summer season hasn't fully hit us yet.  The sales we're seeing are still mostly with aggressively priced or distressed property and financing is an on-going issue.  Those sellers with the ability to offer owner-carry financing offer a very attractive draw.

Weekly Market Analysis 

Attached here is a complete breakdown of what the market did in 2008.  Of course the market is much different now than it was last year, but this gives us a bit of history to look back on.

Currently in the market, we're seeing an increase in showing activity.  The sales we're seeing however still appear to be mostly on distressed property or real estate priced below recent appraisals.  To get your property sold these days the key element becomes how it's priced.  For buyers, with inventory on the rise and "motivated sellers" (to say the least) this is still a great time to buy. 

Please take a minute to read the Prudential Steamboat Realty 2008 Market Report. 

Here's a helpful piece outlining some great seasonal information about the Steamboat Springs real estate market.  You'll find some insight as to how Facebook and Twitter are changing the shape of online consumer information and a spotlight on Steamboat's newest nightlife.  Also, be sure to check out the "Do The Math" breakdown demonstrating why now is just as good of a time to buy as any.

Click here and happy reading!  Prudential Steamboat Connection Newsletter

Steamboat is known for the unique and entertaining festivals and events that go on here throughout the year.  This weekend welcomes the Yampa River Festival which goes beyond just having a good time.  This local event is designed to not only showcase the river’s recreational uses but promote environmental awareness as well.

Between kayakers, fishermen, summer tubing operations and the like, there are a lot of different variables that impact our waters on a daily basis.  This festival partners with the Colorado Mountain College, Everything Outdoor Steamboat and the Boy Scouts to bring awareness to the rules of using the river within city limits to the general public.  

The Yampa River Festival is organized by Peter Van De Carr who owns Backdoor Sports and is a vocal river ambassador who leads by example.  The event includes river competitions like the Tube Rodeo, Kayak Freestyle, Raft Race, Crazy River Dog Contest, Kayak Slalom Race and much more.  Other celebrations include a viewing of “The Polish Race To The Bottom Of The Earth” – a film by Eugene Buchanan – on Friday night and the ‘Saturday Night Bluegrass Party’ at the Art Depot starting at 5pm.

Registration begins this evening from 5-7pm at Sunpies Bistro and participants can also register on the day of the event.  For more information about the festival, call Backdoor Sports at 970-879-6249.

As you can probably tell from a recent lapse in blog posts, business has been picking up.  Showings on property listings have been bustling and there seems to be a revived interest in Steamboat real estate. 

The Boyd Team has seen a rash of closings over the last 30 days, including two large parcels of land and a private home in the downtown area.  In the last two weeks along we've taken on 9 new listings from sellers interested in capitalizing on a sale.  With another big closing slated for later this month, things seem to be on an up-swing.

Prudential Steamboat Realty is gearing up for a busy Memorial Day weekend as well.  Our office will be hosting another of our popular "Home Tours" whereby we'll host anywhere from 12 to 20 open houses and invite the general public to see what's for sale in our area.  This has traditionally been a successful way to ramp up buyer interest as we kick-off the summer selling season.

And lastly, our office recently arranged for a dear friend, Todd Musselman, to speak at our Monday sales meeting.  Todd is a very motivational guy and left us all with a key message as we move through the current market dynamics.  Todd explains that you're "either a victim or an owner of your life" and those that take charge of their circumstances are the ones that come out on top.  Todd went on to explain that "preoccupation and multitasking are the enemies of achievement."  We must focus on one thing at a time if we're going to be successful at anything.

So as we transition to the season of longer days and an influx of new buyer interest when it comes to investing in Steamboat real estate, the Boyd Team holds a positive outlook for good things to come. 

The Boyd Team uses a web search called Trulia as just another site to post the listings we have for sale.  Now the headlines break that Trulia has rolled out its new search filter that allows homebuyers to look only for those homes that have had price reductions since first coming on the market.

With many of our Steamboat local listings seeing price reductions, it's only natural to see one of the "big dogs" beginning to use this information to distinguish listings online.  Trulia says that 27 percent of homes currently for sale nationwide have had their prices trimmed at least once.

"It doesn't matter if your price point is $200,000 or $2 million, in these difficult times people are searching for the best deals they can find on homes," Trulia CEO Pete Flint says. "Our new price-reduction functionality makes it easier for people to find the home of their dreams without laboring through unwanted results."

In the midst of the current buyer's market, Prudential Steamboat Realty has been pursuing a "Priced To Sell" campaign in the local print media.  The focus of these ads is similar to what Trulia is trying to accomplish online.  We're highlighting properties that have reduced the asking price in an effort to attract more buyers. 

Here the percentages of Trulia listings with price reductions in 15 of the largest metropolitan areas, along with the average reduction in price:

• New York - 39 percent of homes had a reduction, with an average of 14 percent off the original list price
• Los Angeles - 33 percent, 13 percent
• Phoenix - 32 percent, 12 percent
• San Francisco - 30 percent, 13 percent
• Las Vegas - 28 percent, 16 percent
• Boston - 28 percent, 8 percent
• Houston - 27 percent, 6 percent
• Albuquerque - 26 percent, 7 percent
• Chicago - 25 percent, 8 percent
• San Diego - 25 percent, 9 percent
• Miami - 25 percent, 15 percent
• Philadelphia - 22 percent, 8 percent
• Atlanta - 21 percent, 11 percent
• Seattle - 20 percent, 8 percent
• Denver - 18 percent, 7 percent                         Source: Trulia (04/24/2009)

The sun is shining in Steamboat and we begin to look forward to the beauty and activities that summer has to offer.  One of the events that we most look forward to is the July 18^th "Tour de Steamboat!" 

This scenic ride leads enthusiastic roadies up and over both Rabbit Ears Pass and Gore Pass in what's logged as a "110 or so" mile ride.  This year's event is made even more special by the fact that Prudential Steamboat Realty has once again partnered with Rocky Peak Productions to help with sponsorship support.  Prudential is pleased to be affiliated with an organization that touches the lives of so many people each year. 

There will once again be a fundraising component of the event that benefits the Sunshine Kids organization.  Sunshine Kids is a non-profit organization dedicated to enriching the lives of children with cancer.  Kent Eriksen Cycles will be donating a custom titanium frame as a raffle item.  A benefit dinner will take place July 17^th at the Steamboat Grand Resort Hotel and include silent auction items such as:

• Lodging and Lift Ticket Ski Packages
• Nordic Ski Lessons at Catamount
• Custom Kent Eriksen Cycles Items and Riding Kits

Look for more updates on this special event right here, and get your biking legs in shape.  The Boyd Team would love to see you participate in this year's Tour!