Steamboat Ski-in, Ski-out Luxury Developments
November 25, 2009
Steamboat ski-in, ski-out real estate has traditionally been an excellent investment because the supply is so limited. You’ll find developments marketed as ski-in ski-out, but there are only a handful of true ski in, ski out places in Steamboat.
Here is a summary of the different types of ski-in, ski-out property (starting at the high end):
Steamboat has two new luxury developments that will open within the next month or two. One Steamboat Place and Edgemont are currently selling in the $1200/sq ft range. Both developments are pretty firm on price, although in this market you might be able to negotiate extras like HOA dues and furniture. These are spare-no-expense, gorgeous condos with excellent amenities. They are perfect for buyers who want the top of the line experience and plan on using their second home to enhance their lifestyle.
Next are developments like Antlers, Christie Club, and Chateaux Chamonix. These are luxury, highly rated developments built about 10 years ago. They sell between $600-$1000/sq. ft. There are some excellent buys in this range with highly motivated sellers. For example, I have a 2 br. Christie Club for sale at $895,000 owned by a very motivated seller. Rental income is excellent. (Click here for details.)
Other developments are Torian Plum and Torian Creekside and Dulany, which were built in the 1980s. Many have been renovated. They are listed in the $400-$600/sq ft range with some excellent values.
This year is still a soft rental market although it is much better than last year. If you purchase ski in, ski out real estate in Steamboat now at a great price, you’ll reap the rewards once the market turns around in both appreciation gains and higher rental income.
I look forward to showing you around Steamboat to see if our resort market is the best fit for your portfolio.
Please contact us at your convenience.
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