How's The Market?
The recent weather in the Yampa Valley—along with the time change—makes it feel like spring is in the air. Before putting away your wool socks, though, remember that March is historically Steamboat’s snowiest month. Perhaps relying on that piece of history (along with the 376” we’ve received so far), the Resort has extended the closing date from April 9 to April 16.
As of March 13, 2023, Routt County has 90 active residential listings. That’s down from 99 this time last month, and down from this time last year (111). The number of currently-pending listings (84) is down from this time last month (103), and up from this time last year (79). Closed listings in February county-wide were up, with 52 last month compared to 31 the month prior, and 59 in February of 2022.
January and February were comparable months, with the median days before going under contract being 24 and 31 days, respectively. Average price-per- square-foot for single-family homes was on par compared to last month, with homes in the county and homes in city limits sitting at about $604 and $639, respectively. The closed price ratio fell a bit in the month of February, going from about 100% of asking in January to about 98% in February.
The licensing component of Steamboat Springs’ long-anticipated short-term rental program is finally up and running. Every short-term rental must obtain a license. Licenses will be valid for one year, and must be renewed every year. The deadline to obtain a license is April 30, 2023, and the fee is $250. Applications and instructions may be found HERE for the most up-to-date information.
On the national level, last week, Federal Reserve Chairman Jerome Powell gave the Fed’s Semiannual Monetary Policy Report to Congress. Chairman Powell said that although inflation has leveled out in the recent months, there’s a long way to go to reach the Fed’s 2% target rate of inflation, and that more rate hikes are likely on the way. The rate hikes are likely related to very modest price declines in list prices, because demand is still high.
Ultimately, whether you’re considering buying or selling, our agents are expertly trained in helping you zero in on what makes the most sense for you and your family. We’re here to help you with any and all of your questions. Give us a call to find out how.
Seeing Green in the Yampa Valley
Reduce, reuse, and recycle are the three buzz words dominating green home trends for 2023. The Group Real Estate explores current options for homeowners to consider in a bid to go even greener in the Yampa Valley. These options are great starting points for those looking to help preserve this beautiful planet we call home.
Electric for Cooking
According to Harvard Health, children living in households that use gas stoves for cooking are 42% more likely to have asthma. Starting this year, the Inflation Reduction Act is offering a rebate of up to $840 for an electric stove, cooktop, range, or oven. Induction stoves heat pans faster than gas and have become a preferred choice for chefs around the world.
Environmental Accountability in Construction
The construction industry has a significant impact on the environment, accounting for a large percentage of greenhouse gas emissions and resource consumption. Concrete, steel, and aluminum are the worst offenders, and account for 22% of all embodied CO2, a factor the American Institute of Architects is investigating. There is a concerted focus to reduce the impact by promoting environmental responsibility in building design. In 2023, we can expect to see greater demand for sustainable building materials, such as bamboo, recycled plastic, salvaged materials, and other eco-friendly alternatives.
Solar Power
Invest in the power of the sun and transform it into electricity by installing solar panels. The initial outlay is steep, but it saves money in the long run and may add value to a home for future buyers. Homeowners may be eligible for a tax credit equal to 30% of the cost of installing rooftop solar. Homeowners may also benefit from a 30% credit if they need to upgrade their electric panel for rooftop solar, as well as another 30% credit for installing battery storage.
Get Smart
Smart homes are not a new phenomenon, but experts believe there will be a surge in popularity in 2023 for home automation systems. Smart homes use less energy and fossil fuels by controlling lighting, heating, appliances, and additional components. Not only does it increase sale value to the home, but it also encourages users to be more environmentally aware through the process of automation.
Trees, Trees, and More Trees
With 59 growing days per year, Steamboat Springs has a limited climate for green thumb enthusiasts to make their mark. However, climate change and a hotter world is having an impact on hardiness zones. Greenhouses can lengthen the growing season. For homeowners with a yard or acreage, the greatest impact we can make on the planet is the addition of trees. The Green Earth Group states “If you want to change the world, plant trees.” Save money and avoid mistakes by consulting with a local arborist or landscape professional to source the right species and location before planting. For those without space to plant your own foliage, consider volunteering with the Yampa Valley Sustainability Council to assist with their annual ReTree program.
Springtime on the Slopes
Longer days and warmer air temperatures make for fun days on the slopes, and an understanding of spring conditions will make the experience an even better one. Cool nights and intense sunny days cause a freeze-thaw cycle which greatly affects snow conditions.
Start the day early on the groomers and follow the sun around the mountain to avoid the icy crust of early morning and the mashed potato slush of the afternoon. Begin with east facing slopes that will receive the first sun. Typically, the snow starts to soften within 30-45 minutes of the sun hitting it. By the afternoon, head to north-facing slopes and look for areas that have remained in the shadows. These areas are less exposed to the freeze-thaw cycle.
Dress in layers and avoid cotton. Wear moisture wicking materials, which is especially important when the body is likely to sweat and air temperatures shift. Weather can change over a day and what starts out as a bluebird morning can quickly turn to an afternoon storm. Stay hydrated and be aware of the effects alcohol and caffeine can have on the body, especially at high altitude. Match that lunchtime beer or cappuccino with a glass of water.
The sun might feel great on your skin but cover up and wear plenty of sunscreen. Altitude and snow intensify the glare and can cause serious sunburns. Protect eyes with goggles or sunglasses - "ski blindness" is a real thing.
Make the most of deals at Steamboat Resort, with the three-day Springalicious Pass, valid from April 1 until closing day. For $299 per person (same price for child or adult), ticket holders do not have to ski consecutive days and there are no blackout dates. The resort ups the fun in the final weeks of the season with a host of annual antics including the Cardboard Classic and the Pond Skim, along with a series of free concerts.
Snag a deal on this year’s gear as local stores start their end of season sales. Prices can drop from 15-60% on everything from clothing to skis and snowboards. Look for the early bird discount on a 2023/24 Ski Season pass and you’ll be ready to repeat the fun all over again.
Keeping a Roof Over Your Head
When you drive around Routt County this winter, you are just as likely to see people on a roof, as you are on the sidewalk. As snow continues to pile atop buildings, the need to remove it becomes a bigger debate. The newer the home, the more likely it is expected to withstand additional weight, but how much weight is too much?
Signs of Stress
Have you noticed new cracks in the drywall? Are there windows or doors that have become difficult to open or close? Do you hear frequent cracking or popping sounds from the ceiling? Is there evidence of a leak or any dampness on the walls? If the answer is yes to any of these questions, it is time to lighten the load.
Location of Building
The orientation of a structure and how much it is exposed to wind varies for every property. The building code for snow load differs across Routt County depending upon where the home is situated. An interactive map on ground snow load value per site can be found at www.routtgismaps.arcgis.com
Snow Load Calculator
The American Society of Civil Engineers established design parameters to accommodate the impact of weather-related conditions on structures. Within their measurement tools they developed a snow load calculator. The formula considers length and width of a roof, the pitch, snow cover (which is measured at its thickest part), and the type of snow as it affects the density.
Clear Vents and Overhanging Snow
Gas fueled or gas burning appliances need ventilation to avoid a carbon monoxide build up. Piles of snow can block vents or exhausts, and can pose a threat to inhabitants, or increase the chance of fire or explosion. Keep vents clear and remove overhanging snow which is at risk of falling on gas meters, exposed pipes, and people.
Ice Dams
Ice dams form when the heat on the roof is non-uniform. A ridge of ice that blocks melting snow from draining can cause water to back up and leak into the building. Snow cover, outside temperatures, and heat loss from the structure can cause an ice dam to form.
If in doubt whether to shovel a roof or not, the best move is to call a professional for advice. Shoveling snow correctly from a roof will prevent damage and costly mistakes in the long run.