The State of Boulder County Housing: Listen to the Podcast

 

Vice President of Programs and Inclusive Leadership at the Community Foundation Boulder County, Elvira Ramos, hosted DB Wilson from RE/MAX of Boulder and Marta Loachamin from Tradewind Real Estate to discuss what is happening in the county’s housing market and the ripple effects of the high cost living here.

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I LOVE what I do! I have been in the Real Estate Industry now for over 13 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197
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Boulder County Home Sales Level As Inventory Stays Short

Home Sales Level As Inventory Stays Short

Posted by RE/MAX of Boulder on Monday, February 27th, 2017 at 1:07pm.

January home sales confirmed expectations that local Boulder real estate sales would come out of the gate slowly in 2017.

Single-family home sales for Boulder, Colorado rose 1.9 percent in January – 218 units sold compared with 214 units sold in January 2016. Month-over-month, January 2017 sales dropped 2.6 percent compared to December’s 224 units sold.

In condominium/townhomes, 57 units sold in January, an 18.8 percent improvement compared with 48 units sold a year ago, but a 51.3 percent drop compared with the 117 units sold in December.

“The relatively slow start was expected. It’s just a fact that Boulder County home sales will continue to be influenced by low inventory and high demand in all market areas and categories,” explains Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

Inventory of single-family Boulder-area homes for sale declined 2.1 percent in January compared to December 2016 – 510 units vs. 521. Condominium and townhome inventory improved 23.9 percent in January compared to December – 114 units versus 92 units.

And the overall picture is more of the same: strong demand and low inventory, resulting in rising prices.

All but two Boulder-area communities saw median home sale prices increase in January. Median sales prices across the county ranged from $372,500 in Longmont to $820,000 in Boulder – down from $904,500 in January 2016.

Beyond that trend, Hotard says predictions in this market are difficult to make. “I don’t think anybody’s got a great crystal ball on this one. It’s an ongoing story of low inventory, high demand, which harkens back to the old television show jingle ’round and round she goes, where she stops nobody knows.”

Market conditions that influence real estate prices are strong in the Boulder Valley, explains Hotard.

“We’ve got a 2.2 percent unemployment rate, wages are going up, job growth continues to be strong, and we’re not building enough housing to meet demand – not even close.”

With those market conditions continuing month after month, he says the outcomes for the housing market are relatively inevitable; however the potential for rising mortgage interest rates could influence home prices.

On the bright side, though home prices have increased in all market areas – including Longmont where the median sales price rose more than 12 percent last year – Longmont still has affordable homes and has some projects yet to be built.

And if you want to sell your home – and you know where you are moving to – Hotard says you’re in a good position. “For sellers, this is a great time because you’ve got that high demand and low interest rates and prices are rising.”

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I LOVE what I do! I have been in the Real Estate Industry now for over 13 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
720.938.4197

Safety + Boulder = Excellent Match!

Safety + Boulder = Excellent Match! 

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The following is an reprint of an article by Tom Kalinski on the Remax of Boulder website. Full article here.

When it comes to where you call home, safety is one of the biggest concerns. Everyone wants to live in a safe town.  

So it’s welcome news to hear that two Colorado cities rank in the top 25 safest cities to live in America.

Fort Collins ranked No. 9 with Boulder following at No. 23, according to data analyzed by Niche, a company that researches and compiles information on cities and recently released their annual Safest Cities List.

To determine safety rankings, violent and property crimes per capita were analyzed. Crimes included in the violent crime statistic are assault, murder, robbery and rape. Property crimes included are burglary, larceny and vehicular theft.

The safest city in America for 2016 is Naperville, Illinois, according to the Niche ranking. Located in the Chicago metro area, Naperville touts an annual median household income of more than $100,000 and a low unemployment rate of 4.7 percent. The city has over 130 parks, two public golf courses and a Riverwalk.

Fort Collins and Boulder unemployment rates also are reported to be lower than the national average of 6.3 percent. Fort Collins unemployment rate is 5.3 percent, while Boulder is reported to be at 4.6 percent unemployment.

Median household incomes for the two Colorado cities are $53,755 and $58,062 respectively – about half that of Naperville’s.

For the past two decades, generally crime levels have been decreasing, according to Business Insider’s look at the Niche report. But some major U.S. cities have experienced increased violent crimes and Chicago is currently one of the most dangerous U.S. cities in 2016, notes Business Insider.

The nation’s safest state is California – home to 11 of the top 25 safest cities.

See the full Niche report at https://local.niche.com/rankings/cities/safest/. For the Business Insider story, visit http://www.businessinsider.com/the-safest-cities-to-live-in-america-2016-6/.

The following is an reprint of an article on the Remax of Boulder website. Full article here.

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I LOVE what I do! I have been in the Real Estate Industry now for over 7 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197

Colorado’s Population Is Seriously On The Rise!

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This recent Denver Post article lays it out – our state’s population is seriously on the rise and outgrowing the rate of new housing.

“Colorado’s population rose by almost 102,000 people last year, but the state added only 25,143 new homes, condos and apartments to accommodate those newcomers, according to updated estimates from the U.S. Census Bureau.

The division of those two numbers explains the multiplication of headaches for anyone trying to buy or rent a home along the northern Front Range: The average household size in Colorado is 2.5 people. That means the state should have added 40,500 housing units. Instead, it is running 15,000 homes short of where it should be, adding to a deficit that has been mounting since 2012…”

Read the full article – HERE

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I LOVE what I do! I have been in the Real Estate Industry now for over 11 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197

The City of Boulder Explains Changes to Short-Term Rentals

Check out this video that explains how the City of Boulder is implementing changes to the quickly growing vacation rental/short-term rental market. Things are changing. Here is what you need to know.

 

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I LOVE what I do! I have been in the Real Estate Industry now for over 11 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197

Boulder Real Estate In Top 1 Percent of National Housing Markets!

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Boulder is in the top 1% of the country’s most exclusive housing markets! The average list price for a four-bedroom, two-bathroom house in Boulder has crossed over $1 million, a rarified altitude that places the city among the country’s most expensive housing markets. This puts Boulder in the company of an elite list of very few cities.

Read the entire Daily Camera article here: http://www.dailycamera.com/business/ci_29105130/boulder-real-estate-hits-rarified-values-now-among

Screen Shot 2015-06-13 at 8.46.24 AM

I LOVE what I do! I have been in the Real Estate Industry now for over 11 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197

Boulder Real Estate In Top 1 Percent of National Housing Markets!

Screen Shot 2015-11-12 at 3.47.59 PM

 

Boulder is in the top 1% of the country’s most exclusive markets! The average list price for a four-bedroom, two-bathroom house in Boulder has crossed above $1 million, a rarified altitude that places the city among the country’s most expensive housing markets. This puts Boulder in the company of an elite list of very few cities.

Read the entire Daily Camera article here: http://www.dailycamera.com/business/ci_29105130/boulder-real-estate-hits-rarified-values-now-among

Screen Shot 2015-06-13 at 8.46.24 AM

I LOVE what I do! I have been in the Real Estate Industry now for over 11 years and am grateful to have found a career that I enjoy so much. I am highly organized and extremely efficient with a strong background in negotiations which always helps when in the middle of a tough transaction! I welcome all opportunities to work with you whether you are looking for your first home, looking to move to a larger home as your family grows, or looking to expand your portfolio and purchase an investment property. It is a great time for real estate in Boulder County! If you want to learn about what this market means to you and your family, just call or email. Contact me with all of your real estate needs! 

Janet Leap, GRI
RE/MAX of Boulder
Call me – 720.938.4197

Housing Boulder Wants To Get Feedback On Community Housing Priorities

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Want to have input on housing and housing affordability in Boulder, Colorado? There are neighborhood workshops throughout May to help get input from the community. The Housing Boulder project aims to identify community priorities for action and specific tools to address Boulder’s housing challenges. Want to get involved?

Check out the list of workshops and ways to get involved in the discussion @ https://bouldercolorado.gov/housing-boulder/housing-boulder-neighborhood-workshops

Mortgage Rates Are Up. Is It Time To Buy?

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As expected, the average 30-year fixed mortgage rate jumped to 4.51% for the seven-day period ending on July 10th.  That is an increase from 4.29% a week earlier and 3.98% for the second week in June.  The higher rates increased monthly principle and interest payments by roughly 6.5%. The chart at the left illustrates how the increased mortgage rate impacts buyers.

Chart courtesy of the National Association of Realtors’ Economists’ Outlook