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Buyer's Guide

A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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Step 1: Research

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

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Step 2: Decide on Your Budget

Notice we said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

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Step 3: Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

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Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). We will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

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Step 6: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

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Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. We can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

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Step 8: Select Your Loan

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.

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Step 9: Get a Home Appraisal

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.

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Step 10: Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams. 

See Why Our Clients Love Us

Client Success Stories

"We were very pleased to work with Alex and he helped us purchase a townhome in Steamboat Springs, Colorado. We were renting and knew that housing security was a bit of an issue here, so buying was the best way for us to feel better about our long-term situation. When we purchased, it was an extremely sellers-favored market, so getting a competitive offer crafted was paramount - thankfully we literally had the first offer we made accepted by the sellers with Alex's advice. This was a blessing and Alex was extremely on top of every detail throughout the entire process. We would definitely recommend that anyone who is looking for a realtor or real estate agent in the Steamboat/Hayden area contact Alex and let him help you!"
"We were very pleased to work with Alex and he helped us purchase a townhome in Steamboat Springs, Colorado. We were renting and knew that housing security was a bit of an issue here, so buying was the best way for us to feel better about our long-term situation. When we purchased, it was an extremely sellers-favored market, so getting a competitive offer crafted was paramount - thankfully we literally had the first offer we made accepted by the sellers with Alex's advice. This was a blessing and Alex was extremely on top of every detail throughout the entire process. We would definitely recommend that anyone who is looking for a realtor or real estate agent in the Steamboat/Hayden area contact Alex and let him help you!"
Eric
"Alex was great to work with and did all he could to protect us as the buyers throughout the process, particularly our earnest money. Would definitely recommend it!"
"Alex was great to work with and did all he could to protect us as the buyers throughout the process, particularly our earnest money. Would definitely recommend it!"
Amanda
"We were very happy with Alex and the Steamboat Sotheby's team when selling our house in Hayden. Sotheby's was very professional and provided many resources that we appreciated. Alex was always very responsive and provided us with good advice in a timely manner. He had our house under contract with multiple offers over the asking price within the first week. We would highly recommend him to anyone looking to buy or sell in the Yampa Valley!"
"We were very happy with Alex and the Steamboat Sotheby's team when selling our house in Hayden. Sotheby's was very professional and provided many resources that we appreciated. Alex was always very responsive and provided us with good advice in a timely manner. He had our house under contract with multiple offers over the asking price within the first week. We would highly recommend him to anyone looking to buy or sell in the Yampa Valley!"
Victoria
"Alex was always on top of everything and always responded quickly to any request. He kept me on top of what I needed to prepare and he took care of the rest, going above and beyond. He was also very knowledgeable of the market and area with respect to not only market values for the condo but also rental and lease possibilities. the transaction in general was extremely smooth and I never had to wait for information. I would use Alex again and recommend him to others without hesitation. Thanks, Alex!"
"Alex was always on top of everything and always responded quickly to any request. He kept me on top of what I needed to prepare and he took care of the rest, going above and beyond. He was also very knowledgeable of the market and area with respect to not only market values for the condo but also rental and lease possibilities. the transaction in general was extremely smooth and I never had to wait for information. I would use Alex again and recommend him to others without hesitation. Thanks, Alex!"
Joe
"Alex is so awesome! He helped me buy my first house in October and took what could have been a painful experience (refused for first loan on a technicality) and turned it into a rousing success - and he did it with professionalism confidence and communication. Alex was so involved throughout the entire process, even offering to help me move. It is this level of genuine consideration that causes me to highly recommend working with Alex. He is a Steamboat legend!"
"Alex is so awesome! He helped me buy my first house in October and took what could have been a painful experience (refused for first loan on a technicality) and turned it into a rousing success - and he did it with professionalism confidence and communication. Alex was so involved throughout the entire process, even offering to help me move. It is this level of genuine consideration that causes me to highly recommend working with Alex. He is a Steamboat legend!"
Ryan
"Alex was very personal and attentive throughout my home-buying experience. I felt comfortable asking him questions about mortgage loans, the market, and more. Not only was he personable but he was also extremely professional and responsive. He got in contact with listing agents, scheduled showings promptly, and quickly wrote up offers and negotiated. This speediness and direct communication really helped, especially in a competitive market like Steamboat. Because of Alex I now OWN a home in my dream town. I could not be more appreciative of all the hard work he put in! Thank you, Alex!"
"Alex was very personal and attentive throughout my home-buying experience. I felt comfortable asking him questions about mortgage loans, the market, and more. Not only was he personable but he was also extremely professional and responsive. He got in contact with listing agents, scheduled showings promptly, and quickly wrote up offers and negotiated. This speediness and direct communication really helped, especially in a competitive market like Steamboat. Because of Alex I now OWN a home in my dream town. I could not be more appreciative of all the hard work he put in! Thank you, Alex!"
Rachel
"Alex was awesome when he was helping me to sell my condominium. He was kind, professional, and excellent from beginning to end."
"Alex was awesome when he was helping me to sell my condominium. He was kind, professional, and excellent from beginning to end."
Irene
"Alex made our first time buying a home so smooth and seamless. He really understood what we were looking for and was patient and knowledgeable! We will definitely be using Alex for all of our real estate transactions in the future!"
"Alex made our first time buying a home so smooth and seamless. He really understood what we were looking for and was patient and knowledgeable! We will definitely be using Alex for all of our real estate transactions in the future!"
Chelsea
"Alex is a wonderful sociable realtor, with integrity. He consistently demonstrates a deep commitment to his clients, ensuring that their needs are met with the utmost professionalism. His honest approach and ability to connect with people make him trustworthy and respected in the real estate community. I confidently recommend Alex to anyone seeking a dedicated and reliable real estate professional."
"Alex is a wonderful sociable realtor, with integrity. He consistently demonstrates a deep commitment to his clients, ensuring that their needs are met with the utmost professionalism. His honest approach and ability to connect with people make him trustworthy and respected in the real estate community. I confidently recommend Alex to anyone seeking a dedicated and reliable real estate professional."
Olympia
"Doug has been our realtor for the past 15 years and we have bought and sold our properties as our family needs have grown and changed. He has listed our properties and sold them. He has assisted us in buying 2 previous properties as well as our most recent home purchase about a month ago. He is a longtime resident and knows every inch of Steamboat. He is honest, patient, efficient, and always prepared at every appointment. He negotiates with his client as his top priority and always acts with their best interest in mind. Quite simply Doug is the best!"
"Doug has been our realtor for the past 15 years and we have bought and sold our properties as our family needs have grown and changed. He has listed our properties and sold them. He has assisted us in buying 2 previous properties as well as our most recent home purchase about a month ago. He is a longtime resident and knows every inch of Steamboat. He is honest, patient, efficient, and always prepared at every appointment. He negotiates with his client as his top priority and always acts with their best interest in mind. Quite simply Doug is the best!"
John & Carolyn
"We worked with Doug over a period of several years in the Steamboat area and can gladly say that he is the best real estate professional we have had the pleasure of working with. He combines a depth of knowledge of the market with great negotiating skills and an extensive network of resources. He went the extra mile to help us find the right property and went even further to close the deal!"
"We worked with Doug over a period of several years in the Steamboat area and can gladly say that he is the best real estate professional we have had the pleasure of working with. He combines a depth of knowledge of the market with great negotiating skills and an extensive network of resources. He went the extra mile to help us find the right property and went even further to close the deal!"
Mark & Rebecca
"Doug has helped me in the purchase of two homes in Steamboat Springs. He is an honest advocate with lots of real estate experience and has become a friend. I appreciate that Doug is a respected community member and knowledgeable and professional in his field."
"Doug has helped me in the purchase of two homes in Steamboat Springs. He is an honest advocate with lots of real estate experience and has become a friend. I appreciate that Doug is a respected community member and knowledgeable and professional in his field."
Hollis
"I chose Doug after interviewing several other agents in Steamboat. Doug was, by far, the most responsive and positive. Throughout the process of selling my property, he was very communicative. And, he sold my difficult property in much less time than I expected. I would highly recommend him if you are looking to buy or sell in the Steamboat area."
"I chose Doug after interviewing several other agents in Steamboat. Doug was, by far, the most responsive and positive. Throughout the process of selling my property, he was very communicative. And, he sold my difficult property in much less time than I expected. I would highly recommend him if you are looking to buy or sell in the Steamboat area."
Jack
"Doug is one of the best, He does what he says he is going to do. I have known Doug for a number of years, however, this is the first time I have worked directly with Doug. professional, knowledgeable, and open-minded. Doug is a pleasure to work with."
"Doug is one of the best, He does what he says he is going to do. I have known Doug for a number of years, however, this is the first time I have worked directly with Doug. professional, knowledgeable, and open-minded. Doug is a pleasure to work with."
Mike & Diane
"I have conducted multiple purchases and sales with Doug over a 10+ year period. Doug has always been: A client-centric expert- Doug consistently operates from both a deep knowledge of the Yampa Valley/Steamboat Real Estate market and a real desire to meet and exceed his clients' needs. His style is not pushy or transaction-oriented, rather, it is deeply client-focused. A valued advocate and advisor-Doug delivers calm, reasoned answers and advice- he won't simply tell you what he thinks you want to hear, or what he thinks will get the deal done quickly- he will tell you the truth and his honest opinion, which is informed by decades of experience. Referrals- years ago, I was initially referred to Doug by a good friend who had excellent experiences with him. I have recommended Doug to multiple friends who have been interested in purchasing in the Steamboat area, or who want to begin that process by becoming educated on that market. Doug is well known as a valuable knowledge resource in the Steamboat Real Estate market, and he does a great job sharing his knowledge. Integrity- Doug has always shown a deep sense of integrity, for doing the right thing whether folks are watching or not. I highly recommend Doug to anyone who is thinking about buying (or selling) a home or property in the Steamboat Springs area, either as a home or for investment."
"I have conducted multiple purchases and sales with Doug over a 10+ year period. Doug has always been: A client-centric expert- Doug consistently operates from both a deep knowledge of the Yampa Valley/Steamboat Real Estate market and a real desire to meet and exceed his clients' needs. His style is not pushy or transaction-oriented, rather, it is deeply client-focused. A valued advocate and advisor-Doug delivers calm, reasoned answers and advice- he won't simply tell you what he thinks you want to hear, or what he thinks will get the deal done quickly- he will tell you the truth and his honest opinion, which is informed by decades of experience. Referrals- years ago, I was initially referred to Doug by a good friend who had excellent experiences with him. I have recommended Doug to multiple friends who have been interested in purchasing in the Steamboat area, or who want to begin that process by becoming educated on that market. Doug is well known as a valuable knowledge resource in the Steamboat Real Estate market, and he does a great job sharing his knowledge. Integrity- Doug has always shown a deep sense of integrity, for doing the right thing whether folks are watching or not. I highly recommend Doug to anyone who is thinking about buying (or selling) a home or property in the Steamboat Springs area, either as a home or for investment."
Lindsay & Laura
"Doug has the expertise and experience to make out-of-town home buying as stress-free as possible. His network and service are beyond reproach. I would recommend Doug Labor to anyone looking to buy property in the Steamboat area. Specifically, Doug worked with our Sellers to negotiate a fair price for a wonderful property. He communicated with us, the seller, and the bank for every portion of the transaction and was very organized (deadlines all outlined and marked). He provided useful referrals for financing, home inspection, and also interior design. He even offered to complete a walk-through for possession with FaceTime!"
"Doug has the expertise and experience to make out-of-town home buying as stress-free as possible. His network and service are beyond reproach. I would recommend Doug Labor to anyone looking to buy property in the Steamboat area. Specifically, Doug worked with our Sellers to negotiate a fair price for a wonderful property. He communicated with us, the seller, and the bank for every portion of the transaction and was very organized (deadlines all outlined and marked). He provided useful referrals for financing, home inspection, and also interior design. He even offered to complete a walk-through for possession with FaceTime!"
Emmanuel & Kate
"My wife and I fell in love with Steamboat 10 years ago and while the skiing is outstanding it was the people and the town itself that made the decision for us. While it was random that we walked into Sotheby's and met Doug, his knowledge of Steamboat and the surrounding area was invaluable over our two-year search. Doug was willing to show properties at the drop of a hat, both ones we found on our private search as well as an array of possibilities from the MLS and his own search, all based on our 'needs & wants'. His willingness to show any property we requested as well as his knowledge of our specified needs and wants was impressive and saved us time and pretty much kept us on track. Doug is a professional, and I would highly recommend him to anyone."
"My wife and I fell in love with Steamboat 10 years ago and while the skiing is outstanding it was the people and the town itself that made the decision for us. While it was random that we walked into Sotheby's and met Doug, his knowledge of Steamboat and the surrounding area was invaluable over our two-year search. Doug was willing to show properties at the drop of a hat, both ones we found on our private search as well as an array of possibilities from the MLS and his own search, all based on our 'needs & wants'. His willingness to show any property we requested as well as his knowledge of our specified needs and wants was impressive and saved us time and pretty much kept us on track. Doug is a professional, and I would highly recommend him to anyone."
Tim & Linda
"Doug was our agent for four real estate transactions - two purchases and two sales. Needless to say, our experience with him on the first one was excellent, so we continued to work with him for all our real estate transactions. I highly recommend him to others."
"Doug was our agent for four real estate transactions - two purchases and two sales. Needless to say, our experience with him on the first one was excellent, so we continued to work with him for all our real estate transactions. I highly recommend him to others."
Butch & Honore
"Doug helped both in locating my new home and selling my old home. We wanted the perfect home and it took some time to find the right one. Doug was very earnest in making sure he found the right home for us."
"Doug helped both in locating my new home and selling my old home. We wanted the perfect home and it took some time to find the right one. Doug was very earnest in making sure he found the right home for us."
Chris & Denise
"We were very pleased to work with Alex and he helped us purchase a townhome in Steamboat Springs, Colorado. We were renting and knew that housing security was a bit of an issue here, so buying was the best way for us to feel better about our long-term situation. When we purchased, it was an extremely sellers-favored market, so getting a competitive offer crafted was paramount - thankfully we literally had the first offer we made accepted by the sellers with Alex's advice. This was a blessing and Alex was extremely on top of every detail throughout the entire process. We would definitely recommend that anyone who is looking for a realtor or real estate agent in the Steamboat/Hayden area contact Alex and let him help you!"
"We were very pleased to work with Alex and he helped us purchase a townhome in Steamboat Springs, Colorado. We were renting and knew that housing security was a bit of an issue here, so buying was the best way for us to feel better about our long-term situation. When we purchased, it was an extremely sellers-favored market, so getting a competitive offer crafted was paramount - thankfully we literally had the first offer we made accepted by the sellers with Alex's advice. This was a blessing and Alex was extremely on top of every detail throughout the entire process. We would definitely recommend that anyone who is looking for a realtor or real estate agent in the Steamboat/Hayden area contact Alex and let him help you!"
Ben B.
"Alex helped me buy my first house, he was very helpful, especially since I was totally new to the home-buying process. He was patient and happy to share what he knew with me whenever I had any questions. I look forward to using Alex in the future to help me find additional homes!"
"Alex helped me buy my first house, he was very helpful, especially since I was totally new to the home-buying process. He was patient and happy to share what he knew with me whenever I had any questions. I look forward to using Alex in the future to help me find additional homes!"
Sam N.
"Alex was very helpful in our situation. He helped us nail down a contingent offer on a new property, then list our current property and get an offer on it in under 3 weeks, just shy of the contingency cutoff. We got everything lined up to close on both properties on the same day, which was fantastic."
"Alex was very helpful in our situation. He helped us nail down a contingent offer on a new property, then list our current property and get an offer on it in under 3 weeks, just shy of the contingency cutoff. We got everything lined up to close on both properties on the same day, which was fantastic."
Scott R.
"Alex went above and beyond to help us get our new home. Alex was on top of everything and helped us during the entire process and was very quick to answer any questions we had. Alex even helped us clear snow after recent snowfall to do the final walk-through. It was great working with Alex and his knowledge and professionalism really made the process of buying a home less stressful. I would highly recommend using Alex as a realtor."
"Alex went above and beyond to help us get our new home. Alex was on top of everything and helped us during the entire process and was very quick to answer any questions we had. Alex even helped us clear snow after recent snowfall to do the final walk-through. It was great working with Alex and his knowledge and professionalism really made the process of buying a home less stressful. I would highly recommend using Alex as a realtor."
Josh
"Alex made our first time buying a home so smooth and seamless. He really understood what we were looking for and was patient and knowledgeable! We will definitely be using Alex for all of our real estate transactions in the future!"
"Alex made our first time buying a home so smooth and seamless. He really understood what we were looking for and was patient and knowledgeable! We will definitely be using Alex for all of our real estate transactions in the future!"
Buyer
"Alex went beyond what other realtors have done with our lot and is very knowledgeable about the area. We really appreciate his communication and the smooth closing."
"Alex went beyond what other realtors have done with our lot and is very knowledgeable about the area. We really appreciate his communication and the smooth closing."
Seller
"We wanted to thank you for all the help with purchasing our unit at One Steamboat Place. The whole condo search sure got a lot easier once you got involved. You handled all the legwork for us and were invaluable once we left Steamboat and have been doing everything long distance. And I really appreciate the advice around the offer and counter-offer levels - you were spot on. We definitely need to get together for dinner or drinks when we get back out there."
"We wanted to thank you for all the help with purchasing our unit at One Steamboat Place. The whole condo search sure got a lot easier once you got involved. You handled all the legwork for us and were invaluable once we left Steamboat and have been doing everything long distance. And I really appreciate the advice around the offer and counter-offer levels - you were spot on. We definitely need to get together for dinner or drinks when we get back out there."
Jack & Caroline
"Doug was extremely helpful in navigating the buying process, particularly since for most of the escrow period I was not in Steamboat. Doug was instrumental in getting the sellers to agree to fix a dishwasher leak that the sellers initially denied that the leak existed. I would strongly recommend him to anybody looking to buy a home in Steamboat."
"Doug was extremely helpful in navigating the buying process, particularly since for most of the escrow period I was not in Steamboat. Doug was instrumental in getting the sellers to agree to fix a dishwasher leak that the sellers initially denied that the leak existed. I would strongly recommend him to anybody looking to buy a home in Steamboat."
Gary
"Doug was absolutely wonderful. We were unsure of what we wanted and where we wanted to be, so Doug took us around and showed us many different areas and types of properties. After we became more informed, Doug helped us to fine-tune our search until we found the wonderful property that we now own in Steamboat."
"Doug was absolutely wonderful. We were unsure of what we wanted and where we wanted to be, so Doug took us around and showed us many different areas and types of properties. After we became more informed, Doug helped us to fine-tune our search until we found the wonderful property that we now own in Steamboat."
Gary & Brenda
"Doug helped me purchase a condo in Steamboat sight unseen. I was highly impressed with his negotiating skills. I felt Doug pursued the best deal for me and was not just pushing to "get the deal done" as some other brokers or agents tend to do (speaking from experience). I am extremely pleased with the final price and the overall transaction all went smoothly. I would highly recommend him!"
"Doug helped me purchase a condo in Steamboat sight unseen. I was highly impressed with his negotiating skills. I felt Doug pursued the best deal for me and was not just pushing to "get the deal done" as some other brokers or agents tend to do (speaking from experience). I am extremely pleased with the final price and the overall transaction all went smoothly. I would highly recommend him!"
Nancy
"Doug keeps you out of trouble during the due diligence and closing process Doug doesn’t need supervision like most realtors I’ve dealt with. His knowledge of the Steamboat area real estate scene is encyclopedic. I’ve been involved in around 20 real estate transactions and Doug is the best."
"Doug keeps you out of trouble during the due diligence and closing process Doug doesn’t need supervision like most realtors I’ve dealt with. His knowledge of the Steamboat area real estate scene is encyclopedic. I’ve been involved in around 20 real estate transactions and Doug is the best."
Gary & Tosh

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