Reported by Alta Drumm, REALTOR, ABR, CRS, GRI, CEBA
Updated August 18, 2009.
Current Market Rating: 3
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Seller's
Current Price Trend: 3
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Falling
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The market for the City of Boulder continues to remain stable. Although it seems flat for Boulder, Business Week says Boulder's appreciation, though just in the upper 2% so far for this year, is among the highest in the nation. Foreclosures in Boulder, for the most part, have been nonexistent, and currently only one for every 500+ households in Boulder County becomes a foreclosure.
The PMI (Private Mortgage Insurance) United States Market Risk Index ranks the entire Denver/Metro area which for this purpose includes Boulder County, as being a Minimal risk area for real estate purchases. It ranks Orlando and Sacramento both as High Risk - the levels being High, Elevated, Moderate, Low, with Minimal the lowest risk.
With interest rates at 5% - 5 1/2%, there hasn't been a better time for qualified buyers to buy than right now. If you have not owned a home during the past 3 years, the Feds say you may qualify for the stimulus money of $8,000. You should probably be under contract with a property by October 1st to be able to close before the program ends in November.
The $350,000 to around $550,000 price range has been fairly healthy in Boulder. We've seen the most drop in prices for homes listed above $900,000.
The next two months may be the best opportunity to buy a home that we've seen in years. School is starting, owners who need to find tenants for their properties if they don't sell are negotiating to get them sold instead, before we head into winter. I've had several buyers recently take out FHA loans, pay their 3.5% down payment from their own funds and negotiate for the seller to pay their closing costs. After the stimulus payment, some stand to come out "making" $4,000 on their home purchase this year!
ZIP Code: 80301 Approximate Location Boundaries: City of Boulder
Location Characteristics: Boulder, home to the University of Colorado, sits northwest of Denver, Colorado at the foot of the Rocky Mountains.
About Alta Drumm:
I've been a licensed Realtor since 1967. I've always believed that home buyers deserve to expect the same loyalty and service from their Realtor that in years past had only been enjoyed by home sellers. There were many others throughout our industry who agreed with me. So I left Re/Max and abandoned the practice of trying to work for buyers and sellers at the same time. From the first day in May 1990, my company and I have worked exclusively for home and property buyers.
I and others had come to realize that true agency exists due to the relationship between the agent and the buyer, and does not have to depend on who pays the agent's fee. Your attorney can work for you even if the opposing side eventually pays him. Your real estate broker can too. I receive a share of the seller's broker's commission at closing, paid as a percentage of the entire transaction. So for MLS properties, and most all properties offered for sale privately, you don't have to pay a fee or commission to me for working for you, regardless of how long it takes to find, investigate, and close on your perfect property.
Be sure to check my website, www.BuyerBrokersofBoulder.com or www.BoulderHome.com, for information about how I work and why I'm passionate about providing the best possible real estate representation for buyers, as well as a wealth of information about Boulder and the surrounding communities - Louisville, Longmont, Broomfield, Lafayette and more. I have limited my practice to representing buyers, never sellers. I can promise with confidence that nobody promotes and protects your interests better as a home buyer.
100% of my business is devoted to helping you find and buy exactly what you want.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
