With zero growth mandated, Boulder, Colorado is keeping its real estate valuable, but some agents are still finding it hard to sell properties in an idyllic environment where city-owned mountain-view public parks surround the city.

"Buyers think that since a home is sitting on the market for awhile than a low offer is warranted and the home must be over priced," says Realtor Ro Troia, "Higher-priced homes are taking the biggest hits. It's tougher to get buyers into your listings and sellers don't understand why their homes aren't getting the showings. We see a lot more open houses, advertisings, you name it, just to get buyers interested in taking a look."

FSBOs suffer

"The slow market has made it difficult for agents to sell listings even using all of our marketing "know how," says Troia. "It's even worse for the many 'FSBO's' trying to sell a home without an agent. In a great market, FSBO's (For Sale by Owners) at least had a chance because everything sold, now it's a challenge. Last year, a house was sold the day it was listed, this year it's taking 3 months. We are all a little spoiled by the good years and have to accept this so called "slow" market which may in reality be a "normal" market. With the exception of the upper end of the market, houses that are priced right and in great condition will eventually sell. It's a different market than we are used to, but it's a real market."

But Boulder's spectacular location is expected to override the temporary slump in housing.

Says Realtor and attorney Susan Soklin, "The City of Boulder is the "center" of Boulder County, a beautiful valley nestled against the foothills of the Rocky Mountains. Among Boulder's many features are the University of Colorado campus, Pearl Street pedestrian mall, numerous hiking trails, and Boulder Creek which runs through town. Boulder is ranked amoung the best places to live by numerous publications. It is expected that Boulder County's population will increase by 15 percent with a significant increase in the age 60+ group. Yet, Boulder County and its residents remain ever youthful and fit due to a very active lifestyle. In the winter, we ski at Eldora ski area, less than 30 minutes from Boulder, in spring we run the Boulder Bolder, and in summer we hike and camp in the mountains."

Yet, recently housing has reached a five-month supply, bringing a closer balance between buyers and sellers, says Soklin.

"The average sales price in Boulder dropped from $464,000 to $418,000 in the past year," explains Soklin. "Water restrictions remain in place in most cities and towns in the front range due to drought, but the good news is that interest rates for new loans and refinances remain well under 7 percent with adjustable rate loans in the 5 percent range."

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Published: October 16, 2002

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