The inside line from the Porches Director of Sales, Beth Postemski
Aspen Skiing Company Acquires Steamboat in $1.5 billion deal.
It’s been a big month in Steamboat real estate to say the least. I’ve been calling everyone in my database to share the big news (in case they haven’t already heard) that Aspen Skiing Company and a private equity firm have committed to acquire Steamboat Ski Resort. I don’t want my clients to miss this opportunity because now is the time to jump in on existing inventory and pricing it’s only going to go up. News of the forthcoming sale is already driving the phones to ring and brokers are requesting inventory lists because they have buyers on the line who want to see what’s available. Aspen Skiing Company has a reputation for investing money into its resorts so we are hopeful that with the acquisition they will put money into improving Steamboat’s on-mountain facilities and base area. Aspen Skiing Company’s purchase is expected to close by the end of the third quarter of 2017.
Steamboat’s Luxury Real Estate Sales Doubles in 2017
Since January there have been 22 sales for homes over $1 million. In the year prior during the same time frame, there were only 11, so sales have doubled. This kind of activity in the luxury sector is an indication of what is to come, especially for the luxury fractional market which becomes more and more popular as prices increase. For example, buyers can own 1/8 of a $2.5 million home for $200,000.
Welcome to the neighborhood!
Everyone here at The Porches is pleased to welcome our new owners Sophie and Chris from Texas as the newest fractional owners. With six weeks of ownership, Chris and Sophie will be enjoying three weeks at The Porches in the summer and three weeks during the Champagne Powder winter season. Depending on availability, maybe even more!
Fractional sales are on the rise.
The fractional market has come alive again as prices continue to go up and the luxury market is seeing such high demand. If you’ve ever thought about owning property in Steamboat, our fractional ownership is a great steppingstone to be able to move on and find the permanent home that you’re looking for. This is a great way to enter the Steamboat market. Your Private Residence Club ownership guarantees you six weeks in your home each year. Discover The Porches “Space-Available,” the best kept secret in Steamboat.
Exciting new developments happening all over Steamboat!
The city just approved an outdoor stage that will be constructed right on the banks of the Yampa River, making Steamboat a premier destination for outdoor concerts. People are also super excited about the new 18-hole golf course at the base of the mountain and the on-mountain roller coaster. These are just a few more reasons to come see our unique outdoor community and to discover why we love Steamboat.