My New Blog

A great article in the Boulder Daily Camera about the real estate market here in Boulder Colorado.  I especially agree with the fact that Boulder didn't feel the housing bubble burst as much as other areas did, such as Las Vegas.  We are in a much better position to recover than Miami for instance, who experienced huge appreciation year after year.  Boulder kept a stable 2,3,4% appreciation.  Therefore when the recession hit, those places were hit hard, but Boulder was not.  The article explains that homeowners with listed homes play a waiting game to see what will happen with the sale of their property.  Homeowners, anaylists, and real estate agents are not panicking, but not entirely optimistic either.  Lou Barnes from Premier Mortgage Group states that with help from the national economy, we have all the patterns to indicate a recovery is expected.  However, it will take a trigger such as an improvement in unemployment rate or an increase in consumer confidence.  As noted, home values have also stayed relatively flat.  The median price for Boulder homes sold from August 2010 to July 2011 was $535,000 -- a 0.9 percent increase from the same time period a year before.  In Broomfield, the $325,000 median price remained unchanged; Longmont saw a 0.4 percent decrease to $224,000.  Three important points to consider regarding Boulder's housing market, we have 3-4 bank owned properties in the area.  Other metropolitan areas, have hundreds and thousands.  We have the lowest foreclosure rate than any other Colorado county. Also, our inventory level is lower.  We were not inundated with overbuilding; it keeps our supply low and prices stable as well as competitive.  Read the whole article and let me know what you think.