Tag Archives: Boulder Real Estate Market

The latest Boulder real estate market information, Boulder home prices, and Boulder housing updates from Stephanie Iannone Boulder real estate agent, and top producing Boulder realtor managing broker with Housing Helpers of Colorado

Colorado Fall Real Estate Housing Helpers

The Fall Real Estate Market in Colorado

If you’re in the market for a new home, you should know that fall is an especially good season for buyers in the real estate market. That’s partly because of the simple law of supply and demand. According to MSN Money, need to move into a new home before the school year starts. If you’re trying to sell a house, that means there’s less demand, a fact that puts buyers in the driver’s seat and leaves more room for negotiation.

Another plus for buyers? Home prices tend to fall slightly after the busy summer real estate season. If a seller that listed his home last spring or summer still hasn’t sold it, he may consider reducing the price, or at least negotiating some concessions to keep a potential buyer on the “line”.

If you’re looking for a home in the fall, it’s likely you don’t have school aged children, so there are no hard and fast deadlines pressuring you. Sure, you may prefer to close on a house before the holiday season, but it’s not the same as having to. If you can get a better deal by waiting awhile, chances are you will.

One caveat to this rule concerns vacation homes. If you’ve rented a home for a period during the summer and love the area, you may be at a slight disadvantage. A seller knows when he’s got a home that’s worth more simply by virtue of its location near a prime vacation spot, and because of skiing, Colorado often has more than just summer vacationers — they’ve got the winter ski crowd too.

Still, buying a vacation home in the off-season has the advantage of letting you get to know what the area is like when it’s not crowded with tourists and vacationers, and if it’s a second home, you can always rent it out during prime seasons, so it might just be a win-win situation for both parties!

As with all things real estate, it’s much easier to navigate the Colorado real estate market with a trusted and experienced expert by your side.   Call Housing Helpers real estate group and let us guide the way!  303-545-6000

Real Estate Agents          Boulder Real Estate 

 

 

Three Emerging Real Estate Trends Roll On in 2016

As predicted by many experts and analysts, the first quarter for the real estate industry was a steady and consistent move in a positive direction.

One never knows the impact of a Presidential race and what a new Commander in Chief will have on the following year, but for now pay attention and grab a hold of these three emerging trends that are rolling on in 2016:

1. Outside The Box … Or in it? Once seen as a fad approximately 18 months ago, the idea of non-traditional housing is really gaining some steam. Ever watch the show, “Tiny House, Big Living” on HGTV?

The concept of micro-housing takes center stage on this program where couples or even small families live in an area that accommodates all of their living quarters in one approximately 220-400 square foot living space. Claustrophobics need not apply …

Anyway, this idea is really gaining in popularity with more and more people hesitant to dive into a mortgage that they may not be able to afford if companies like Goldman Sachs and JP Morgan Chase ever decide to throw away everybody’s money again and cause another major recession or worse. 

2. Common Sense Risk Management  High level computations and complex data analysis are great, but they too have limitations.

Sometimes, the human touch provides something when assessing risk that computers can’t, which is good intuition based on previous experience and even strong hunches.

Humans really have a unique skill set when looking at trends and attempting to predict tomorrow’s ups and downs because they this intuition lends itself well to anticipating smart investment choices.

3. Second City Mania  Why is everybody is talking about smaller cities like Louisville Colorado and Austin, TX?   Known as second cities or 18-hour cities, these locations are developing at a rapid pace and the time to get in is now.

More than just Austin, start thinking about Nashville, Portland, and San Antonio among others. The cost of living is lower than in places like New York and Chicago obviously, but there is also plenty to do with an air of hipness that purveys home ownership or rental residents in these areas.

In addition to national real estate trends we are always tracking the Colorado Real Estate Market.  As areas like Boulder and Denver continue to explode with high demand and rising prices its hard to know where to invest in real estate right now.  We like some of the lesser known and less publicized communities in between that don’t get as much press.   To find out which ones we like you’ll need to give us a call!

 

Contact Stephanie Iannone          About Stephanie Iannone, Realtor

 

The Boulder Real Estate Market Appeal

Nestled against the foothills of the Rocky Mountains in north central Colorado, beautiful Boulder is home to the flagship campus of the University of Colorado. With an educated population, plenty of opportunities for outdoor fun and eclectic neighborhoods, the city has always been a desirable place to live.

The Boulder Real Estate Market varies from stunning single family homes on The Hill to trendy town houses on the way north to Lyons.  Rental homes and apartment communities pepper the areas around the University campus. Table Mesa has quiet lanes with ranch ramblers and fenced yards. Residences not far from pedestrian-friendly Pearl Street Mall are clustered along leafy streets. Mapleton Hill homes are large, elegant and rich in character.  Tiny homes are popping up here and there. Boulder’s real estate offers something for nearly everyone.

The city of Boulder takes its quality of life seriously, so enforcement of building regulations is an ongoing effort.  Home lots smaller than 35 acres cannot be subdivided.  Limiting new building heights is the norm.

Environmentalism has always had a home in Boulder.   When it comes to “green” practices and real estate, the city encourages rooftop solar panel installation as a way to reduce dependence on the local energy company.

Active and engaged, residents know that they live in a special place. Whether they are tech start-up employees, entrepreneurs, college professors or writers, they work to keep their neighborhoods clean, safe and inviting.

Today, the median Boulder home price is $591,950, a nearly 24% increase over a year ago.    This price is definitely on the high side, but for many people who live in this progressive, appealing city, it is a price worth paying.

For more information about the Boulder Real Estate market contact one of our award winning Boulder Real Estate Agents today at 303-545-6000.

 

Boulder Real Estate Agents         Stephanie Iannone Realtor

 

Fall Pre Leasing in Boulder

Top Reasons Boulder Rentals Remain Hot

Boulder rental properties have always been popular, including the surrounding area of Boulder County.  During the economic turmoil of the last decade, many people lost their homes to foreclosure and were forced to rent. This pushed thousands of homeowners in to the rental market.

However, as the real estate market has recovered rentals are still in high demand.  In fact rentals in Boulder County are in more demand than ever.  Here are a few reasons why:

The 2013 Floods

The floods that swept through 17 counties in the fall of 2013 damaged or destroyed over 20,000 homes, many of those in Boulder County.  That devastation forced many long time Boulder area home owners into the rental market.  A good percentage of those homeowners remain in the rental market as they were unable or unwilling to rebuild.

The Department of Local Affairs Division of Housing working with the Colorado Housing and Finance Authority has announced over $30 million in federal and state funding that will be used to assist more than 950 people who are still seeking permanent housing after the flood.  As a result 1,035 new affordable rental units will be constructed in several communities including Longmont, Louisville, Fort Collins and others.

Population Growth

Census estimates show a population growth in Boulder County of 6.4% since 2010. Colorado as a whole is at 6.5%. Those may not sound like big numbers. However, to put that in perspective, only 3 states, plus the District of Columbia, grew more during that same period. New residents are more likely to find rentals than to purchase a home before getting to know the area.

Front Range Real Estate Bubble

The real estate market in Colorado as a whole is active and vibrant. There is a shortage of affordable houses on the market even for qualified buyers. The Boulder area, especially, has been experiencing activity not seen in years.

There is a shortage of homes and available houses are being sold at higher prices, many above appraised value. Driving the property values up leaves many otherwise qualified buyers moving to rentals until prices come back down to Earth.
People from across the country are being attracted to the Boulder area for many reasons. The existing residents are sticking around, despite recent hardships.  And as we look ahead to the summer of 2015, there is no indication that the Boulder rental market will be slowing down anytime soon.

 

Millennial Impact on the Real Estate Market

As the years pass a new generation of home buyers rise. Yes, members of the millennial generation have been buying houses for several years now, but now the vast majority of the generation has hit their 20’s, and so the number of home buyers will increase dramatically.

Lucy Mueller shares the words of Nela Richardson, the chief economist for Redfin, in her article “Why Millennials Are Better At Home Buying Than You”:

“Millennials will have a huge impact on the housing market for the next decade, just because of demographics alone. So whatever a few of them do, there’s enough of them that they’ll make a big impact.”

With this rising generation of home buyers, a change in the home buying dynamics is inevitable. This includes the relationship between buyers and their real estate agents and realtors.

Generation of the Techies

The millennial generation is technologically savvy and it shows in their house buying. This generation prefers text messaging and emails to phone calls and face to face interactions, and considers the internet an all-knowing source. This generation of buyers will undoubtedly do the bulk of their shopping via online Realtor websites, perusing inside and outside photos before ever setting up an appointment with an agent to see the house.

Generation of the Housing Crash

This generation also watched the housing market crash and the economy fall. A trust has been lost or at the very least shaken, particularly with financial lending institutions. Alan J. Heavens shares in his article “On the House: Millennial buyers are few, dependent on Realtors”:

ClosingCorp of San Diego, which provides residential real estate closing-cost data and technology for the mortgage and real estate services industries, found in a survey that two-thirds of the 1,000 millennials it surveyed were unaware that closing costs were involved in buying a house. If a millennial does know anything about closing costs, he or she finds out by talking to a real estate agent rather than a lender, the survey showed.

The millennial generation is looking more to real estate agents and realtors than previous generations for knowledge of the ins and outs of house buying.

The next decade will see what other changes may take place as the millennial’s flood the housing market with buying their first and second home

Real Estate Agents          Homes For Sale in Colorado

Boulder County Real Estate Market Update

Boulder County real estate is booming.   For top real estate agents in Boulder County that might even be an understatement as buyers are lining up outside in a snow storm for first shot at a  new listing.

That’s right, people are actually lining up to buy homes in Boulder County, Colorado. Even an active snowfall doesn’t keep people from flocking to attend open house showings, according to a March report in the Longmont (CO) Times Call.

Amy Drost, Boulder County real estate agent with Housing Helpers of Colorado says the “Boulder County real estate market is extremely competitive” with some homes in good neighborhoods receiving more than 20 or even 30 offers within the first day of active listing.  .

Lisa Wade, president of the Boulder Area Realtor Association calls the current real estate situation in the county a “feeding frenzy.” The number of homes for sale hasn’t been this low for over a decade. As a result, the homes that do go on the market in the county spark fierce bidding battles that soar too high for some prospective buyers.

The county is almost built-out and Boulder itself may enact development restrictions. Eventually no more single-family detached homes will be constructed. This fuels the shortage.

Most of the new development activity now is in the area of multifamily housing. But newly constructed dwellings, particularly those available for sale, aren’t nearly adequate to satisfy the demand. And demand doesn’t appear likely to decline anytime soon.

Population, employment and average wages are growing, yet home ownership rates have dropped to under 45 percent, down nearly 30 percentage points from the early 2000s, according to a local mortgage lender.

The real estate situation in the Denver region bodes well for sellers, many of whom are receiving multiple bids when their homes go on the market. The tight market pushes realtors out their doors quickly to snap up listings as soon as they become available.

The numbers of Boulder County single-family homes for sale have declined in recent years. January 2015 saw 543 single-family homes listed, down from 641 in January 2014 and 787 in 2013. This represents a significant drop from the 1,461 single-family homes listed in Boulder County in 2010.

So prices are rising in keeping with the limited availability of single-family homes.  The 2014 price of a single-family home in Boulder County rose 3.6 percent from the previous year with a median price ringing in at $427,000.

Whether you’re considering buying a home in Boulder County or already own a home in Boulder County we look forward to being here to help you navigate the Boulder County Real Estate Market.

Boulder County Real Estate Agents

Boulder home prices poised for growth

The bubble is secure.  The bubble around Boulder that is.  It appears Boulder home prices are once again headed higher.

Google recently announced its plans to expand their Boulder campus near the Transit Center at Pearl Street.  The city of Boulder has approved Google’s plans to expand to a three building campus that will now employ around 1500 people. A pretty significant increase from the 400 employees that currently work for Google in Boulder.

Most communities would be really excited to welcome so many new, high paying technology-based jobs in their community, but Boulder Colorado citizens have their concerns.

According to the CNN Money article, “In Boulder, Fear of A Bigger Boulder”

“The plan has locals worried about rising home costs and traffic. Dozens of residents have expressed their concern at city meetings and editorials in the local paper.

City Council member Mary Young has said she’s wary of becoming a “Silicon Mountain,” referencing the high cost of living in Silicon Valley.”

While some fear the rising cost of new homes, others will see the bright side and take advantage of the opportunity to invest in houses in neighboring communities.  Boulder has restrictions on new buildings which already leads to expensive Boulder home prices, so many people commute from neighboring towns like Longmont, Colorado.

Longmont’s home prices are much more affordable and they will likely see an influx of new home buyers and house renters from the new Google employees, or from current Boulder residents who decide to cash in on the high home prices by selling their Boulder homes and looking for a house in Longmont themselves.

Buying a home before the influx of new employees can lead to a quick profit turn around or a very desirable home for rental income. Investing in Boulder homes is always a great idea, but if the Boulder home prices are too much for your liking, you will find some really enticing home investment options in nearby cities.  We can help you find them.

Stephanie Iannone Real Estate Agent

Stephanie Iannone
Colorado Realtor

 

About Stephanie Iannone    

Contact Stephanie:
Stephanie@housinghelpers.com
303.641.7484

Real Estate Agents

Boulder Real Estate Market

Boulder Home Prices Rise 8% in 2014

Home Prices in Boulder Colorado Are Up

Residential real estate prices in Boulder Colorado are up, according to Zillow, which is a trend that has been continuing for the past two years.

Median home values have risen by 7.9 percent in the past year with a predicted increase of 1.5 percent in the coming year. This is the value of all homes in the city, whether or not they’re on the market.
Some of the median values in Boulder neighborhoods include:

  • $584,800 for North Border
  • $535,200 for Whittier
  • $414,500 for Parkside
  • $361,600 for East Aurora.

Here’s how the Boulder real estate market stacks up:

  • Overall Median list price is $599,000 for a median price per square foot of $336.
  • The median sold price is $476,250, which equals a median price per square foot of $287.
  • Less than 2 percent of homes sold below their initial asking price.
  • Only about 0.5 percent of homes in the city have foreclosures, which is far lower than the national 4.2 percent.
  • Delinquencies, which are generally recognized as precursors to foreclosures, are at 0.7 percent, which is lower than the national 6.4 percent.
  • About 6.6 percent of the homes have negative equity, compared to 16.9 percent nationwide.

Here’s how the Boulder rental market is shaping up:

  • Median rents run $1,972 a month, which means that after 3.7 years of payments, buying a home becomes more financially advantageous than selling.
  • Studios rent for a median $900 a month and one-bedrooms go for $1,700.

All these factors make for a very healthy and robust housing market- albeit expensive for many.  Boulder continues to draw home buyers and renters from all over the country – and the world – it’s a beautiful place to live with an excellent quality of life.

If these numbers tempt you into the housing market, please let us know. But don’t wait too long. The Mortgage Bankers’ Association sees interest rates rising to 5 percent by the end of 2015!

 

Stephanie Iannone Real Estate Agent

Stephanie Iannone Colorado Realtor

About Stephanie Iannone
Stephanie Iannone, ABR, CNE is a Boulder Real Estate Agent, Managing Broker and Owner of Housing Helpers of Colorado. Named Distinguished Realtor of the Year and Top 25 Salespeople in Colorado by Colorado-Biz Magazine. Stephanie Iannone and her team of experienced real estate agents serve home buyers, sellers, and real estate investors throughout the entire front range of Colorado.

Contact Stephanie:
Stephanie@housinghelpers.com
303.641.7484

Real Estate Agents

 

 

Boulder Real Estate Market Statistics November 2014

November 2014 Boulder Real Estate Market Sales Statistics

The Boulder Area Realtor Association compiles the following monthly real estate sales statistics for Boulder and surrounding Boulder County Areas.

Year to Year Detached Home Sales

  • Detached home sales declined by one unit or .38 percent in November 2014 compared to November 2013; 261 units versus 262 units.

 Month to Month Detached Home Sales

  • Detached Home sales in November 2014 dropped 15.5 percent compared to October 2014; 261 units versus 309 units.

 Detached Home Inventory Trends

  • The year to year inventory of detached homes for sale in November 2014 dropped by 10.3 percent compared to November 2013; 937 units versus 1045 units.
  • The month to month inventory of detached homes for sale in November 2014 fell 17.5 percent compared to October 2014; 937 units versus 1136 units.

Year to Year Condominium and Townhome Sales

  • Condominium and townhomes sales jumped 27.0 percent in November 2014 compared to November 2013; 108 units versus 85 units.

 Month to Month Condominium and Townhome Sales

  • Condominium and townhome sales fell 17.6 percent in November 2014 compared to October 2014; 108 units versus 131 units.

 Condominium and Townhome Inventory Trends

  • The year to year inventory of condominiums and townhomes for sale fell 8.1 percent in November 2014 compared to November 2013; 238 units versus 259 units.
  • The month to month inventory of condominiums and townhomes for sale in November 2014 dropped 9.8 percent compared to September 2014; 238 units versus 264 units.

**NOTES

Credit-  Thanks to the Boulder Area Realtor Association for providing the November 2014 Boulder Real Estate Market statistics.

  • November 2014 Boulder real estate market sales statistics, while somewhat mixed, suggest a trending toward a traditional year-end slow down
  • November 2014 sales of condominiums and townhomes leaped (27%) year-over-year, reflecting weak sales in November 2013, but pulled back sharply (-17.6%) month-over-month in 2014.
  • Both detached and condominium and townhome month-over-month sales and inventories declined sharply in November 2014.
  • While November 2014 year-over-year detached and condominium and townhome sales remained stable, year-over-year inventories tightened noticeably.

For more information about the Boulder Real Estate Market and Boulder Home Sales trends please contact a Housing Helpers realtor at 303.545.6000.

Homes For Sale in Boulder

Fall Preleasing Boulder Colorado

More solar powered homes in Boulder future

While other utilities are addressing their renewable energy goals by investing in large-scale solar and wind farms, Boulder community leaders are looking to see how a municipal utility could encourage more solar power through rooftop panels on commercial buildings and homes, the Boulder Daily Camera recently reported.

Data released by the City of Boulder shows that, in 2013, much of its renewable energy was coming from wind power and purchase agreements outside of the area.

Currently, only two percent of the Boulder’s renewable energy comes from local solar power, the article stated.  I think that number would surprise most Boulder residents. There aren’t that many solar powered homes in Boulder.  

A working group made up of industry representatives, technical and policy experts, and members of the Boulder community are hoping a municipal utility could reduce the barriers of rooftop solar panels and community solar gardens for apartment dwellers and others who can’t place panels on their rooftops. Some of the barriers include the soft costs of permitting and code requirements.  It’s not the way a lot of utilities are going these days, admittedly.

The costs of rooftop solar powered homes are indeed higher than those associated with investment in large-scale renewable energy farms. However, what Boulder has going for it, beyond the determination of a working group, is a lot of sun and a community well versed in the benefits of solar power.

Much discussion remains to be had, the article noted, as net metering and improved solar storage that allows people with solar powered homes to opt out of the grid leaves those still dependent on the grid to shoulder the burden of its infrastructure. The working group is studying how several other cities are handling this situation, including Sacramento and Austin.

In Austin, the city is moving away from net metering and into a “value of solar” model, where everyone pays the same for electricity, but then a value of solar calculation is made each year — determining how much the city utility saved because of the solar provided — and customers with solar panels are reimbursed for their portion of that value.

If you’re looking for a community that is energy aware and looking to provide the utility of the future, Boulder Colorado is your place.  And if you’re looking for solar powered homes in Boulder County we can help you find one.  We’d love to talk more with you about Boulder and help you to make it your home. For more information, contact us.  303.545.6000 boulderinfo@housinghelpers.com

Boulder Real Estate Agents

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