Tag Archives: colorado floods

Fall Preleasing Boulder Colorado

Colorado real estate market feels impact from floods

According to a recent report, analysts are now saying that, similar to other natural disasters including fires, the summer floods experienced in the state could negatively impact the Colorado real estate market for at least a year.

Some of the early effects that are already being seen include lower inventory due to homes seeing flood damage, a booming rental market due to displaced residents and re-inspection by appraisers of all of Boulder and Weld Counties resulting in delayed closings and loss of interest rate locks.

Home values could see a decrease too as FEMA begins significantly changing the flood plain maps. Other impacts from that include the need for additional need for flood insurance and individuals experiencing more difficulty in lending on certain properties. Historically, however, the home values in places such as Boulder that are already included in the flood plain maps have not experienced much of a decrease, the report stated.

Since 1987, Housing Helpers has been serving the area that has been impacted by the floods and beyond. This is our home community and we are here to help our community recover. We have recently entered into a partnership with local governments and non-profits such as the United Way to help locate more temporary rental housing for those that have been displaced. If you or anyone you know has a rental property in Colorado to offer, or even just a room in your house to offer, please contact us right away- there are still hundreds of people that are in need of housing.

Beyond recovery, we are looking forward to seeing the region grow and thrive, continuing to help those who are looking to relocate to Colorado, to purchase a home, rent an apartment, or relocate for work opportunities in Colorado. With Housing Helpers, there is no need to sacrifice personal, friendly service for reliable information. We offer both. How can we serve you? Contact us and let us know.

Will Colorado Floods Affect Property Values?           Boulder Home Prices

Boulder County Floods September 2013

Will Colorado floods affect property values?

The September floods in Colorado are, by many accounts, the worst case scenario. These conditions are the sort that cities consider in the creation of new flood plans. Without a doubt, the floods will change the lives and the way of life for many Coloradans. But will they have an adverse impact on property values in Colorado?

At our Housing Helpers Boulder office we are already getting this question from homeowners, prospective home buyers, and landlords alike.   Boulder Colorado, a place historically where property values have managed to stay relatively insulated from economic recessions, stock market crashes, terrorist attacks, and more.  Could the floods of epic proportions be the event that actually bring Boulder’s property values down?  According to a study found on the City of Boulder’s website, maybe they will. Maybe they won’t.

The study, published by Stephen Yao of Risk Frontiers – NHRC and Macquarie University, whether a property’s situation in a floodplain impacts its values or not depends on the premium placed on waterfront properties in the area. Some waterfronts are so in demand that owners are willing to take the risk of the 100 year flood in order to have the views and the conveniences of living close to the water.

Whether or not property values decline after a flood has taken place also vary from study to study and region to region. One point emerges from the various results, however. Being located in an area where a flood has occurred is more likely to impact property values than being located in a floodplain. How long adverse impacts of flooding on property values last depends on how extensive the damage was.

As Boulder and the region recover from the floods over the next days, weeks and months, the impact of this month’s events on the real estate market are uncertain.

Those of us in the industry will most certainly be paying attention to the situation, because the people we serve are relying on our experience in the area and our knowledge to make important decisions regarding the buying and selling of properties in the area.

More importantly for now we are simply focused on helping our neighbors, friends, and family to clean up and restore their lives to normalcy as much as possible.  For many of us it will be months, if not years, before the reminders of this epic event will be erased.

Boulder Temporary Housing      Rentals in Boulder

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