The Steamboat Pilot & Today

On the Market

Tom Ross' On the Market column appears Sundays in the Real Estate section of the Steamboat Pilot & Today. Contact him at 871-4205 or e-mail tross@steamboatpilot.com.

Half-million threshold

The prospects for building modestly priced homes inside the city limits of Steamboat Springs this construction season are just that — limited.

The least expensive lot listed in the city limits is priced at $350,000, Realtor Doug Labor said. Using the old rule of thumb that says the cost of the lot should be 25 percent to 30 percent of the improved property with a home on it, the scenario pencils out to million dollar homes.

The possibilities for buying single-family homes priced below $500,000 are virtually nil.

“In the city of Steamboat Springs, there is currently just one single-family home listed for less than $500,000. Last year, there were seven sales” below that threshold, Labor said.

Resort Group streamlines

Resort Group, which manages more than 3,000 resort properties in Steamboat Springs, has restructured its business to streamline operations.

Resort Group’s nightly rental property lineup has folded three existing firms into two entities. The inventory of Colorado Resort Services, acquired by the company in September 2007, is being integrated into Mountain Resorts and Pioneer Ridge Management.

Mountain Resorts, under the leadership of Steve Frasier, will manage the nightly rental inventory of resort-oriented condominiums. Pioneer Ridge Management will handle nightly rentals of private homes and unique condominiums. Mark Wilson will oversee that business.

The founding owners of Colorado Resort Services, Kathy Connell and Renea Cowman, are working with Resort Group to ensure a smooth transition.

Resort Group has formed Steamboat Association Management to work effectively with the residential homeowners associations currently represented by Mountain Resorts and CRS. Jim Landers will lead the new company.

Resort Group has formed Colorado Commercial Services to increase its focus on the growing commercial and mixed-use property sector being developed in Steamboat.