Exclusive Steamboat Properties

Archive for October, 2009

First Time Homebuyers are Running Out of Time…

The 8 thousand dollar tax credit timeline is closing in and you must be closed on your property by the end of November to qualify.  The new development, First Tracks at Wildhorse Meadows has studios starting at $179,000, one bedroom condos for $225,000 and 2 bedroom units listed for $285,000.  Included is a large designated storage space for your kayaks, bicycles, ski/snowboards and more.  Pets are welcome too.   The Yampa Valley Housing Authority has arranged 20% downpayment  assistance in the form of a 15 year loan via Funding Partners. Interest rates as of Friday were at 4.5% for a 15 year loan.  Both of these programs are limited, so now is time to make the move.  Home owner’s dues are low, low, low.  I just had a Buyer who is a teacher, get a studio under contract this week. This is an incredible opportunity to get on the Steamboat real estate ladder.  Let me know if I can help you take advantage of the low interest rates, prices and benefits of home ownership.

Flying Into Steamboat Springs

Flying to Steamboat Springs
Easy Flights Makes for Easy Access 

The Yampa Valley Regional Airport (Steamboat/Hayden HDN) is located just 22 miles from Steamboat which makes us the most conveniently accessed ski resort in Colorado.  The terminal facility at YVRA has been recently remodeled.  Steamboat offers year round all-jet air service with convenient connections nationwide.   Denver International Airport is approximately 160 miles southeast of Steamboat Springs with most major airlines servicing DIA from both domestic and international locations throughout the world. Steamboat Airport (Bob Adams Field) http://www.airnav.com/airport/KSBS  is located 3 miles northwest of downtown Steamboat but does not provide commercial service.   
                             
Winter 2009 (mid December through March) features nonstop flights from nine major airports across the country on American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines, United Airlines and Frontier Airlines.

Spring, Summer and Fall 2009 all-jet air service includes two daily flights, three daily in the summer, on United Express® from Denver with convenient connections nationwide. 
                                                                                                                                                                                                                                                          

                                                                                                                                                                                                                                                  

 

Buyers….Get Off That Fence!

WHY buyers need to get off the fence!  Rates will go up early next year.

Currently the Federal Reserve is buying mortgage backed securities which helps to keep rates artificially low.  This program is schedule to end in late December.  A new Federal Reserve statement was released on Sept 23 and they have decided to stretch out their buying into the first QTR of 2010 without adding any additional money to their program.  This by design will gradually increase rates by about 1% to just over 6% in the first part of next year.

The best rates that we have seen in 30 years can be had along with the best selection, now is time to get off the fence.  Do you want to look back and find you missed this opportunity?  Looking back now at the bottom of the stock market in March the gains for the S&P 500 are 50% for the year.

Here is how a rate change of 1% will affect your payment:

For each $100,000 in loan amount with a 5% interest rate (30 yr fixed) the payment is $537 and at a 6% rate the payment is $600 (principal and interest).  This is a 11.7% increase in your payment that will happen over a period of one month.

 

Loan Amount	Payment at 5% (30 yr fixed)	Payment at 6% (30 yr fixed)	Monthly Difference
$300,000	$1,611	$1,799	$188
$400,000	$2,147	$2,398	$251
$500,000	$2,684	$2,998	$314
$600,000	$3,221	$3,597	$376
$700,000	$3,758	$4,197	$439
$800,000	$4,295	$4,796	$501
$900,000	$4,831	$5,396	$565

Allow me to help you find the most for your money before the rates increase.