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34225 State Highway 131
Steamboat Springs, CO 80487
$7,490,000
Conventional
Property
Bedroom
5
Bathroom
6
Property Type
Conventional
Square ft
5387
Property Description
Paniolo Ranch is the embodiment of the western ideal: wide open spaces, majestic views, adventures on horseback, and casting flies for trophy trout. Savor the privacy, solitude, and convenience afforded by 35 acres LESS THAN 5 MILES from the slopes of the world-famous Steamboat Ski Resort, downtown Steamboat, and 3 golf courses. Revel in uninterrupted views of the ski area, South Valley, and Yampa River. Walk over to the neighboring Chuck Lewis Wildlife Area for access to the storied fly-fishing on the Yampa River. Enjoy watching the wildlife that call the rich, riparian habitat home including birds of prey, sand hill cranes, deer and elk. There is no better way to explore the Colorado wilderness than on horseback, and Paniolo Ranch includes a fully equipped post & beam barn with 2-stalls, wash & tack rooms, and radiant heat. Generous water rights allow plentiful irrigation of your hay fields. The custom designed main residence of 4,200 sf comes with 4 en suite bedrooms, high ceilings throughout, and is luxuriously appointed with 3 ovens & 2 dishwashers. Designed to maximize the grand 360 degrees views of the surrounding valley and mountains from every room, this unique home also includes multiple outdoor spaces including a porch/portico and 3 covered patios that capture both spectacular views of the alpenglow, and the verdant, green South Valley bathed in sunlight throughout the day. The water of Chuck Lewis Wildlife Area is framed by a picture window in the dining area. A fully finished 2-bedroom, 768 sf caretaker apartment with granite counters above the barn makes property management easy when away from home. An extra 276 sf office in the barn provides a sizeable room with many possible uses. Additional features include an automatic whole-house backup generator, ag status with low property taxes, and no HOAs for the freedom to create your own vision and uses for the property. Experience the “best of the west” just 5 minutes from skier drop-off, at Paniolo Ranch.
Property Information
Lot Size
35 acre(s) square ft
Property Type
Residential
Year Built
2009
MLS Number
S1048299
Location
Address
34225 STATE HIGHWAY 131
City
Steamboat Springs
State
CO
Zip Code
80487
County
ROUTT
Listing
Provider
The Agency Steamboat Springs, original listing
Name
The Agency Steamboat Springs
Phone
(970) 457-6880
Office Name
The Agency Steamboat Springs
Office Phone
(970) 457-6880
Agent Name
The Paoli Group

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.