Connect with us

Real Estate News

Routt County real estate sales eclipse $21M from Nov. 11-17

Avatar photo



Real estate transactions in Routt County surpassed $21.9 million across 17 sales for the week of Nov. 11-17.

2617 Burgess Creek Road
Seller: Hermann and Mary Donovan Moreno
Buyer: Peter Surgent
Date: November 14
Price: $777,500
Property Description: 1,356-square-foot, two-bedroom, 2 ½-bath condo, Unit 101, Building A at Burgess Creek Townhouses. Last sold for $320,000 in 2005.

23335 Post Rider Trail
Seller: Caroline H Wellford
Buyers: Gay Stoeffler and Thomas P. Taggart
Date: November 14
Price: $135,000
Property Description: 0.72 acres of vacant residential land, Lot 18 at Young’s Peak at Neighborhoods at Young’s Peak.

31035 Lynx Basin Way
Sellers: Heidi L. and Wayne A. Flint
Buyers: D Kathryn and Dennis O Scott
Date: November 14
Price: $1,240,000
Property Description: 2,928-square-foot, three-bedroom, three-bath, single-family residence on 3.85 acres of land, Lot 10 at Lynx Basin Estates.

32596 Ute Trail
Seller: Jennifer Rose and Ryan Nicholas King
Buyer: Daniel Armstrong
Date: November 14
Price: $600,000
Property Description: 1,634-square-foot, three-bedroom, two-bath, single-family residence on 0.47 acres of land, Lot 2 at Morningside I at Stagecoach. Last sold for $439,000 in 2021.

1800 Medicine Springs Drive
Seller: Charles N Bracht and Cheryl A Verlander
Buyer: Brad M. Peterman
Date: November 14
Price: $1,590,000
Property Description: 1,574-square-foot, three-bedroom, three-bath condo, Unit 5202 at Emerald Lodge at Trappeurs Crossing Resort Condos. Last sold for $640,000 in 2014.

31090 Fallen Falcon Trail
Seller: John E McInroy and Ann W Peck
Buyers: Kyle J and Laura G Heffern
Date: November 14
Price: $170,000
Property Description: 1.16 acres of vacant residential land, Lot 34 at Eagle’s Watch Subdivision at Stagecoach. Last sold for $75,000 in 2020.

56275 Circle View Lane
Seller: Geoffrey McFarlane
Buyer: Jorgen Jensen
Date: November 14
Price: $180,000
Property Description: 5.02 acres of agricultural land, Lot 3 at Seed House Ranch.

1722 Highland Way
Seller: Karen and LA Dougherty
Buyers: James J. and Susan S. Wolff
Date: November 14
Price: $1,775,000
Property Description: 2,724-square-foot, three-bedroom, three-bath townhome on 0.04 acres of land, Lot 1A at Highlands Place Townhomes.

25880 Lodgepole Drive
Seller: Robert K. Hagerty and Laura HG Wait Revocable Trust
Buyer: Jeff Nissen
Date: November 15
Price: $225,000
Property Description: 0.28 acres of vacant residential land, Filing No. 6, Lot 10 at Steamboat Lake Subdivision and 5.02 acres of agricultural land, Lot 14 at Parkside at Steamboat Lake.

27050 Fire Song Road
Seller: Barbara L. and Marlin B. Dailey Jr.
Buyer: MHP Fire Song LLC
Date: November 15, 2022
Price: $5,305,000
Property Description: 4,610-square-foot, five-bedroom, 5 ½-bath, single-family residence on 6.94 acres of land, Homestead G3 at Marabou Filing No. 1. Last sold for $1,100,000 in 2017.

27150 Cowboy Up Road
Seller: Marabou D4 Partners LLC
Buyers: Barbara L. and Marlin B. Dailey Jr.
Date: November 15
Price: $900,000
Property Description: 6.82 acres of agricultural land, Homestead D4 at Marabout Filing No. 1.

1750 Medicine Springs Drive
Seller: Jill S. White Living Trust
Buyer: Walker Management Group LLC
Date: November 16
Price: $1,725,000
Property Description: 1,589-square-foot, three-bedroom, three-bath condo, Unit 6107 at Bear Lodge at Trappeurs Crossing Resort Condos.

2990 Laurel Lane
Seller: Karen Monge
Buyers: Eric C and Heather A Carter
Date: November 16
Price: $1,500,000
Property Description: 2,614-square-foot, four-bedroom, three-bath duplex on 0.99 acres of land, Filing No. 4, Lot 30 at Ski Ranches Subdivision. Last sold for $800,000 in 2009.

No address
Seller: LR Smith Investments LLC, Smith Rancho Land and Livestock LLC
Buyer: C&B Holdings LLC
Date: November 16
Price: $55,000
Property Description: Agricultural land, SEC 26-7-88.

55780 Olive Street
Seller: James E and Lisa S Landers
Buyer: Telemedu LLC
Date: November 17, 2022
Price: $175,000
Property Description: Vacant residential land, Lot 3 at Willow Point Subdivision.

655 Yampa Street
Seller: Swedproperty 655 Yampa LLC
Buyer: WS Foundation Real Estate LLC
Date: November 17
Price: $2,492,000
Property Description: 1,663-square-foot, four-bedroom, two-bath condominium, Unit R1 at Swedwood Condominiums.

32365 Routt County Road 41
Seller: Two Brothers Ranch LLC
Buyers: Bryan S and Kristie L Churchley
Date: November 17
Price: $3,100,000
Property Description: 2,584-square-foot, three-bedroom, 2 ½-bath residence on land, Tract 1 at Elk Pass Ranch, Lot 43 at Big Valley Ranch Subdivision F2A, SECS 14-5-85 and 23-5-85.

Total sales: $21,944,500

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Real Estate News

Advice today on leasing commercial real estate might surprise you – Orange County Register

Avatar photo



Like the strong weather patterns of late, much can be said for the headwinds in our commercial real estate market this year.

Shaking off the cobwebs of a post-pandemic hangover, 2022 started with great momentum only to be cooled mid-year.

We received some decent economic news of late with the consumer price index not increasing as fast and some major retailers posting better earnings than expected. But our path forward still remains murky.

So what advice are we giving to tenants, investors and occupants who own? Allow me to categorize each.


Faced with a lease expiration at the end of this year, we recently recommended a client of ours renew for a short period of time, just six months, to gauge the market trajectory.

We’ve been watching what property has become available for several months. His options to relocate were limited and we’d even created a Plan B to stay put if we didn’t see some loosening in the market.

Lo and behold, we noticed a trick of new buildings hitting the market in October. Now it’s running about three a week. If you’re looking for space, this is a vast improvement vs. six months ago when we were lucky to see one every three weeks.

Another interesting metric is the asking rates have declined. Gone are the days when a newly available property was swept up before it was widely marketed. Every new deal was a new high. Not anymore.

Our advice centers around the belief in a future market softening. Tenants are becoming valuable again, especially if they pay on time and are easy on the building.

What’s causing the increase in supply? Some businesses faced with the new rent structure are headed out of state or out of business. What’s left in their wake are vacancies.


We see two sets of motivations these days: to defer taxes or not. Unless motivated by tax reasons, it might be wise to put your money in short-term treasuries—say, two years—and wait for the right opportunity to come along.

Institutional capital is largely sidelined and occupants are priced out. Private investors rule. If rents are softening in the face of rising interest rates, values ​​can only decline. Will there be better deals in mid-2023 vs. today? Our opinion is yes.

Certainly, if your investment is dictated by tax-deferred timeframes, you either transact or pay the capital gains taxes. But remember, the impetus of those buys was a sale. Our sense is they’ll be fewer equity sales as values ​​have declined or the market’s evaporated, leading to fewer tax-fueled purchases.

Occupants who own

We saw a voracious appetite from institutional capital targeting properties. Their pitch was a sky-high purchase price in return for a leaseback of two-10 years. This activity peaked in June.

With the uncertainty of recession, inflation and rising rates, these deals weren’t as attractive.

With more lease deals hitting, our prediction is some of these owners will need to sell, especially if faced with a refinance bullet or a shortage of dollars necessary to refurbish the building into rent-ready condition.

Once again, patience is key.

Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services in Orange. He can be reached at or 714.564.7104.

Continue Reading

Real Estate News

Rotman grad pursues social impact in real estate development

Avatar photo



If anyone had told Fatima Saya four years ago that she’d work in real estate development after completing her MBA at the Rotman School of Management, she probably wouldn’t have believed them.

With a passion for building community, creating social and global impact and advancing equity, diversity and inclusion (EDI) wherever she goes, Saya was recognized in her second year for creating and leading a diversity education program for the incoming MBA class in partnership with the school’s Office of Student Engagement and her peers.

Today, she is a senior manager of social impact at The Daniels Corporation, a Toronto-based real estate development company – and says the link between the two is not as unusual as it might initially sound.

“Without cultural, economic or social infrastructure, buildings are just buildings,” says Saya. “State-of-the-art construction is a big part of what we do at Daniels, but what we’re really focused on is building inclusive and sustainable communities through real estate development.”

Saya’s work falls under three main categories: social infrastructure development, local economic development and community engagement. One of the largest projects she’s involved in is the Regent Park revitalization project, where Daniels has been the development partner for its first three phases since 2006.

Since the project began, the physical infrastructure in Regent Park has been completely transformed for its residents, including the building of a new youth centre, community arts and culture hub and award-winning athletic facilities. The revitalization project has also helped to connect more than 1,600 people with employment opportunities through the new Regent Park Employment Centre.

“No two days are the same in my world,” says Saya. “One day, I might meet with the employment community group in Regent Park about creating new jobs for residents, then I might meet with Artscape on creative placemaking that we’re trying to bring to one of the communities.”

The Daniels Corporation has been a development partner for three phases of the Regent Park revitalization project (photo by Steve Russell/Toronto Star via Getty Images)

A typical afternoon involves meeting with the College of Carpenters and Allied Trades and the YMCA about CRAFT, the youth employment program Daniels runs in Regent Park and Scarborough. And to cap off the day, an internal meeting on EDI – another key portfolio in her role.

“I’m consistently juggling about two dozen projects, and they’re all different,” says Saya. “I became used to that at Rotman, and it has also been a common thread throughout my academic experience and now at work – I’m always looking for that multidisciplinary approach.”

After working in the education sector in Montreal following her undergraduate studies, Saya recalls noticing a management gap in the non-profit sector. Coming from an international development and political science background, she figured business school would be largely uncharted territory, but took the plunge anyway.

“I wanted to gain those management skills and challenge myself in a new way,” she says. “I like to pull from different disciplines when seeking out solutions to problems, so I was drawn to how inherently interdisciplinary the MBA program was. That’s also why I pursued a dual-degree program, completing my master of global affairs degree from the Munk School of Global Affairs [& Public Policy] at the same time.”

Following her graduation, Saya searched for a role that would allow her to apply her MBA skills in the social sector, with a focus on EDI. In the meantime, she worked as a freelance consultant using the skills she gained from working at NeXus Consulting Group during her second year. NeXus is an in-house consulting firm comprising Rotman MBA students and not-for-profit organizations, which merged with the Impact Consulting Group at Rotman in 2022.

“I was looking for something very specific, and I was comfortable with the reality that it was going to take some time to find whatever that is,” she says.

Now in her ideal role, she says the best part is getting to use her diverse skills on projects that impact thousands of people in the Greater Toronto Area.

“At the end of the day, real estate development is inevitable as we grow rapidly as a city and a country,” says Saya. “It gives me hope that more people are embracing that development can happen in ways that build the social, cultural and economic infrastructure of our cities and our communities.”

Continue Reading

Real Estate News

Home flippers getting burned by the US housing downturn are now slashing prices to cut losses — here are the 2 big reasons why

Avatar photo



‘Not the time to get greedy’: Home flippers getting burned by the US housing downturn are now slashing prices to cut losses — here are the 2 big reasons why

Home flippers who pounced on recent drops in home prices now face some major hurdles — and potentially major losses.

It’s a story few could have foreseen: After home-flipping reached record heights as 2022 kicked off, the bubble seems to have burst. The one-in-10 home flipping/conventional sales ratio has dropped as the overall real estate market hits the brakes.

Home sales fell for the ninth month in a row in October, and dipped an astounding 28.4% from October 2021, according to the National Association of Realtors. It’s now causing many property investors to dump their inventory, and fast.

“Anybody that’s flipping right now needs to be looking closely at pricing of property: Price it to sell. Today is not the time to get greedy,” Noah Brocious, president of Capital Fund I, a hard-money lender that does business in Phoenix, Colorado and Texas, told Bloomberg News in October.

It’s true that elsewhere — in the stock market, for example — low prices and selloffs reveal golden opportunities to buy. But for those eagerly eyeing the housing market, it’s time to think again.

Don’t miss

  • Chances are good you’re overpaying for home insurance. Here’s how to spend less on peace of mind

  • Black Friday has come early! Save on gifts now with these 20 Amazon deals you don’t want to miss

  • A TikToker paid off $17,000 in credit card debt by cash stuffing — can it work for you?

Slumping demand

Home flippers must face facts: The skyrocketing demand we saw earlier this year may not return for years, if ever. First, housing inventory reached a 10-year low back in January 2022, according to Trading Economics, with just 860,000 single family and condo units for sale in the United States.

About 115,000 single-family homes and condos were “flipped” in the US during the second quarter of 2022, according to real estate data curator ATTOM. This made up about 8.2% of all home sales in the quarter, or up to one in 12 transactions. It indicated that any economic cooldown had not yet manifested in the broader market.

Story continues

“The total number of properties flipped was the second-highest total we’ve recorded in the past 22 years, and the median sales price of a flipped property — $328,000 — was the highest ever,” said Rick Sharga, executive vice president of market intelligence for ATTOM.

read more: Trade up while the market is down: Here are the best investing apps to pounce on ‘once-in-a-generation’ opportunities (even if you’re a beginner)

“The big question is whether the fix-and-flip market will begin to lose steam as overall home sales have declined dramatically over the past few months, and the cost of financing has virtually doubled over the past year.”

Inventory of homes for sale peaked in July at 1.31 million homes. While that came down to 1.22 million homes in October, a general rise has continued even as demand continues to fall.

Rising rates

Now for the second issue facing home flippers, the one that’s making everyone groan: higher interest rates. That means costlier mortgages, which have socked flippers with massive increases in their loans.

As property investors usually invest in several homes at once, it’s no wonder that many now want to get them off their hands. But with prospective buyers also turned off by high rates, it’s turning into a Hail Mary play.

The federal funds rate rose 0.5% at the start of 2022, and now sits between 3.75% and 4%. Yet it’s likely to climb higher before the year is out, as the Fed has hinted at a slew of hikes to come, which could tip the country into a recession.

With that in mind, many property investors will want to wait before they get greedy over home prices. Today, a great deal on a home is counterbalanced by a mortgage with a far higher interest rate compared to this time last year.

There is some hope on the horizon, though, according to the ATTOM report. After six straight periods of losses, profit margins rose during the latest quarter. The gross profit on a typical transaction hit $73,700, up 10% year-over-year and 10% quarter-over-quarter.

What’s next, then? Americans should have more information on forward-looking trends when the next housing reports come out at the end of December.

Meanwhile, bear this in mind: As home flipping tends to mirror the rest of the market, property investors should brace for further drops — stomach drops included.

A better way to buy property?

Of course, flipping single-family homes and condos isn’t the only way to invest in real estate.

Amid hot inflation and the uncertain economy, real estate moguls are still finding ways to effectively invest their millions.

Prime commercial real estate, for example, has outperformed the S&P 500 over a 25-year period. With the help of new platforms, these kinds of opportunities are now available to retail investors. Not just the ultra rich.

With a single investment, investors can own institutional-quality properties leased by brands like CVS, Kroger and Walmart — and collect stable grocery store-anchored income on a quarterly basis.

This article provides information only and should not be constructed as advice. It is provided without warranty of any kind.

Continue Reading