Flatirons

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Flatirons
Greetings!   
Here are a few quick thoughts on the market that I hope you'll find useful. Always interested in your feedback and ideas -- contact me any time!
Best, Rich 

Market Outlook:  A Mixed Bag  The number of sales are down YTD 2011 compared to this time last year, but every Boulder County community has shown increases in both the average and median sales price of single-family homes.

 

The brightest spots for single-family home prices are Louisville and Superior both with an average price increase of about 5%. Townhome/condo prices continued to struggle, with average and median prices falling or remaining the same in the majority of Boulder County markets. However, townhome/condo prices in the city of Boulder saw an average price increase of 6.3%, with Gunbarrel prices increasing an average 9.6%. 

 

The decrease in the number of sales in the first half of 2011 compared to the same period in 2010 is most likely due to last year's Federal Tax Credit.

 

It will be interesting to see if the stats even out as we progress through 2011. I will certainly keep you informed as we move forward. For the latest statistics on Boulder County home and condo sales, with year-to-year comparisons, days-on-market statistics and more: Market Sales Stats

What's Hot: Investment Property  In the first six months of 2011, sales of Boulder investment property are up 38% over last year at this time. Moreover, almost half the transactions have been cash sales! It may be too early to consider this a trend, but there seems to be a flight by many investors to hard assets, and as a result Boulder income property is benefiting.

With uncertainty in other investment markets and the Boulder rental market strong (0-3% vacancy rate), investors are buying into our market - many with cash rather than conventional financing. Boulder's situation mirrors a national wave of increased cash activity. All-cash purchases nationwide - 32% of activity in January - are at the highest level since the National Association of Realtors started measuring cash transactions in 2008, when they accounted for 15% of sales.

WSJ: Boulder One of 25 to Rebound from "Bottom" The Wall Street Journal recently named Boulder as one of the 25 real estate markets that had recovered from the housing recession, and a good place for investment. This is great news for those of us who own property in Boulder and perhaps another good indicator that the market is beneficial both for buying and selling property.

 

WSJ


JULY 2011

Rich Gribbon
In This Issue
Market Outlook
What's Hot
Boulder in WSJ

Homeowner Check In:

Do you have adequate flood insurance? 

 

 

 

Love the cool weather lately, but it does bring to mind a critical point of homeowner coverage:  flood insurance.  Is your property in or near the flood plain? Are you adequately covered?  Homeowners are advised to buy flood insurance even if they do not live in a mapped flood plain. In fact, FEMA says that 25% of flood damages occur outside of high-risk areas and 30 percent of claims paid are not in a flood plain. Now may be a good time to check in with your agent.

 

 

 

 

Let's Collaborate

 
Buying & Selling. 

 

Refinancing. 

 

Leveraging equity to buy investment property.

 

1031 Exchange.

 

Real estate as a retirement strategy. 

 

Using your IRA for real estate investing.

 

Real estate for college savings.  

 

Buying real estate for college-age children to live in while at school.

 

Helping parents relocate or transition to a new housing situation.

 

Purchasing vacation property in ski country, tropics or other resorts.

 

Finding a quality realtor to help with a transaction outside our market.

 

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