Monday, July 25, 2011

Economic Snapshot for Boulder Valley Real Estate

Economic Snapshot July/2011 During the past few years there has been a great deal of discussion and debate in the economic arena about the national real estate market. Most of it hasn’t been pleasant. When something positive surfaces i.e. sales are improving, home values have stabilized, etc. it can be viewed from the perspective that the real estate market is beginning to shift. The days of doom and gloom are behind us and sunny days are the new norm. Real estate markets have traditionally followed that scenario. They bottom-out at some point and then begin the arduous task of righting themselves and slowly (very slowly) gaining momentum. Buyers are once again actively engaged in the process. Sellers are once more receiving reasonable value for their homes. Realtors, mortgage lenders, appraisers, home inspectors and insurance companies feel the impact of the change. New home construction gears-up. The sound of hammers, saws and “boom boxes” once again fill the air. The real estate market we have been experiencing for the past five or six years is slightly different. At times it offers the promise of a renewed enthusiasm. At others not so much. If you follow the stock market, it’s a roller coaster. One day it’s up based on some newly published economic index. The next day it’s down based on some foreign country threatening to default on their loans. The housing market can feel much the same. According to MetroList (MLS), real estate contracts for the Denver Metro area written in June/2011 are up 22.5% compared to June/2010. That’s a positive. Available homes for sale in June/2011 are down 15.7% compared to June/2010. That’s a positive. More sales; less inventory; scarcity creates demand. The hope is the Denver Metro/Boulder Valley real estate market will sustain itself through the balance of the summer and into the fall. That home buyers and investors will see this as an opportune time to buy. Sellers will view this as a favorable time to move-up, move-down or move-on. Below is a brief overview of the housing market in our area by locale for single family homes from IRES (the Northern Colorado MLS). 2010 2011 (Thru June) Area Average Sales Price Average Sales Price %Change Boulder $649,726 $672,072 +3.44% Superior $426,358 $419,758 -1.55% Louisville $440,176 $398,612 -9.45% Lafayette $357,129 $362,301 +1.45% Longmont $256,222 $246,738 -3.70% Suburban Plains $549,136 $532,562 -3.02% Suburban Mountains $412,176 $387,946 -5.88% Broomfield $379,432 $338,805 -10.71% Average … $433,246 $426,783 -1.49%

Tuesday, July 12, 2011

  • Hey, Presidential Candidates: Where are the New Ideas to Fix Housing?

    Fixing the housing market is perhaps the most important step toward fixing the economy, so you would think those who want to win the next presidential election would be talking about how housing creates jobs, the ways consumer confidence is tied to home prices, and what the heck they will do to fix the housing market and turn the economy around. Read

Visit for more articles like this.