Top Ten Sales - Boulder/Broomfield Counties - Dec 1 - 15, 2010 - Location, Location, Location

Our Colorado economy is still struggling but there are signs of improvement. The Denver Post reported this week on job growth in Colorado.  "The primary indicator for any state of economic recovery is job growth, and for the first time in three years, we have experienced three straight months of job growth here in Colorado," Governer Ritter said.  That's good news for housing, but we haven't seen that translate to much sales activity in the last month.  Not surprising though given the time of year, the holidays being traditionally slow for home sales in our area.  The true test will be to see if activity picks up in the February-March-April time frame.

Approximately every other week Colorado Landmark provides detailed information on the real estate actvity in Boulder and Broomfield Counties from the past two weeks. Hopefully our analysis will help reveal what properties are selling, at what prices, how long they are are taking to sell, and other relevant information about what's going on in OUR local area - Boulder County and Broomfield County.

For the two week period from December 1 through December 15, 2010 here are the numbers:

•132 properties sold
•Price range of properties sold during this period: $72,000 - $2,290,000
•Median price: $320,500
•Average price: $389,800

•$0-199k = 31 sold this period
•$200-299K = 28 sold
•$300-399k = 25 sold
•$400-499k = 24 sold
•$500-599k = 11 sold
•$600-699k = 2 sold
•$700-799k = 3 sold
•$800-899k = 1 sold
•$900-999k = 1 sold
•$1.0-1.9M = 5 sold
•$2.0M+ = 1 sold

Top Ten Listings Sold during this period:

Information obtained from MLS and public record.

This period's Top Ten numbers reinforce a very cliche real estate phrase - "Location, Location, Location"!

When markets are bad, especially at the high end, the attributes of location and condition become even more important to the successful sale of a property, and should be carefully analyzed when it comes to pricing a property for the market. 

Properties in highly desireable locations will hold their value in a down market more so than in other areas.  Two examples of this are the properties on Marine and Highland in this week's list above, both with terrific downtown Boulder locations. This is not to say that the other areas listed, like White Hawk Ranch, the close-in mountains, and Lafayette are undesireable, far from it; they are just less so to some buyers than others. The home on Marine St. was priced appropriately and went under contract in a mere 32 days and garnered 99% of the asking price.  The property on Highland Ave. took quite a bit longer to sell - 595 days to contract - but the sellers netted 83.3% of their original asking price, which in this market is not bad for any property priced over $2 million. 

Additionally, these two homes have the highest price per square foot at $492/sq ft for Marine and $592/sq ft for Highland, when compared to other homes on the list.  Several of the other homes have argueably more luxury features, larger lots, and are considerably more spacious yet yielded much lower $/sq ft.  Consider the home on Bitterroot Circle for example - same selling price as Marine, but at $227/sq ft.  The luxury home out in White Hawk Ranch sold for a mere $310/sq ft. 
(using finished square feet above grade for comparison purposes) 

The takeaways here for me are the following:

• If you know you will be somewhere for the long haul, then buy what you want, where you want.  But if there is a chance your plans could change in 5 years or less, consider the location of your next purchase much more carefully with an eye on desireability, walkability and popularity.
• Also, if you have a home priced over $600,000 you can expect the market to continue to be quite slow for a while.  Homes under this threshhold are still selling quite well though!

Happy Holidays everyone! 

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
800-737-MOVE
http://www.coloradolandmark.com/  
www.facebook.com/COLandmark  
www.facebook.com/365ThingsBoulder

2010 Fireworks Shows - Boulder and Beyond

Looking for ideas for the 4th of July?

Look no further!


Colorado Landmark, Realtors in Boulder, along with our friends at Perry & Co. in Denver have compiled the below list of what's happening on the Front Range on July 3rd and 4th, 2010.

Arvada: July 4 3pm-10pm Contact: 720-898-7000 North Jeffco Park & Recreation District 13150 W. 72nd Ave. Arvada, CO Various activities, events for children, food, live music, and more. 25 mins of Fireworks at 9pm.

Aurora: July 4 starting at 6pm Contact: 303-739-7756 Aurora Municipal Center 15151 E. Alameda Pkwy. Aurora , CO 80012 U.S. Army Ivy Band performance – Huge fireworks display (25 minutes) on Great lawn (west side of Aurora Municipal Center) with patriotic simulcast provided by KEZW radio. Food and beverage booths.

Boulder: July 4 8:30pm Ralphie’s Independence Day Blast! Folsom Field Boulder, CO Boulder Philharmonic Orchestra followed by Fireworks display at 9:30pm

Broomfield: July 4 7pm Contact: 303-464-5509 Broomfield County Commons Park 13200 Sheridan Blvd. Broomfield, CO 80020 Various family activities, free concert by Funkiphino at 7pm. Fireworks around 9:15

Brighton: July 4 9pm Friendship Park S. 8th St. & Southern St. Brighton, CO. Concert & Fireworks around 9pm

Castle Rock: July 4 6pm-11pm Enjoy a concert in the park, food and beverage vendors and beer sales prior to an intense fireworks show at the Metzler Ranch Community Park, 4175 Trail Boss Road.

Commerce City: July 4 7pm-10pm Colorado Rapids game Contact: 303-727-3500 Dick’s Sporting Goods Park 6000 Victory Way Commerce City, CO 80022 Fireworks following the home Rapids vs New York Red Bulls soccer game

Denver – Coors Field: July 2 & 3 6pm-10pm Contact: 303-292-0200 Coors Field Neighborhood Lodo 2001 Blake St Denver , CO 80205 Fireworks after the Rockies vs San Francisco Giants games both nights.

Denver – Denver Country Club July 4 9:30pm Historically the DCC opens their east gate across from Bed, Bath & Beyond about 8:30 to allow friends to watch the fireworks show from the fairway. If not, the best place to watch is north of the Country Club along 1st Ave.

Denver – Invesco Field: July 4 7pm Denver Outlaws game Contact: 720-258-3000 Invesco Field at Mile High 1701 Bryant St. Denver, CO 80204 Fireworks after Outlaws vs Bayhawks lacrosse game.

Edgewater: July 3 4pm-10pm Contact: 303-238-7803 x. 28 Citizens Park 2431 Chase St. Edgewater, CO Fireworks start around 8:45pm

Englewood: July 4 3pm-10pm Contact: 303-762-2300 Belleview Park (near the corner of Windermere and Belleview) 5001 S. Inca Dr., CO 80110 Field games, activities, and live entertainment from 3 – 9 pm. The grand finale is Fireworks at 9:30 pm.

Estes Park: July 4 Lake Estes. Grab front-row seats early on the lake shore and enjoy free music until the fireworks begin. The show starts about 9:30pm, weather permitting. Festivities earlier in the day include a pancake breakfast, a patriotic concert and a classic car show. 970-577-6400.

Glendale: July 3 9:30-11pm Infinity Park 950 S. Birch St. Glendale, CO 80246 Fireworks begin at approximately 9:30 PM. There will be at least two big festivals in the city that day – one at Whole Foods; and the other, the Sam Taylor’s Brew ‘n’ Que, at Infinity Park (please note that fireworks viewing will be limited at the Infinity Park site).

Fort Collins: July 4 11am – 10pm Live music, a beer garden and good ole American fun in the Town Square. Fireworks shot over City Park Lake at 9:35pm.

Glendale – Four Mile Historic Park: July 4 10am-4pm Four Mile Historic Park 715 S. Forest St. Denver, CO 80246 Various activities, games, music, etc. but no fireworks show.

Golden: July 4 12pm-10pm Lions Park 1300 10th St & Maple St. Golden, CO 80401 Children’s activities, free rides, food, music Fireworks at 9:30pm

Greeley: July 4 10pm Fireworks following the concerts at Island Grove Park.

Green Valley Ranch: July 4 8-9:30pm Green Valley Ranch Amphitheatre 4890 Argonne Way Denver, CO 80249 At Amphilitheater & Place Concert, etc

Highlands Ranch: July 4 11am-10pm Directly across from Town Center, at the intersection of Highlands Ranch Parkway & Blake Dr. Highlands Ranch Town Center, and Civic Green Park are great locations to watch the show. Balloon Twisters, Face Painters, Vern’s Mini Train, Hayrack Rides, Games & Inflatables, Eurobungee, parades, 5k and 3 live bands. Fireworks around 9:30pm

Lakewood: July 3 1pm-10pm at Jefferson County Sports Stadium located at 500 Kipling St & 6th Ave. Art Activities, Games and Rides for the kids. Live Music, Arts & Crafts, Entertainment, and a Beer Garden for the adults. Fireworks at 9:30pm

Littleton: July 4 3pm-10pm Contact: 303-762-2300 Belleview Park (near the corner of Windermere and Belleview) 5001 S. Inca Dr., CO 80110 Field games, activities, and live entertainment from 3 – 9 pm. The grand finale is Fireworks at 9:30 pm.

Lone Tree: July 4 3pm-10pm Sweetwater Park 8300 1/2 Sweetwater Rd. Lone Tree, CO 5K run, parade, children’s activities, etc. Fireworks at 9:15pm

Longmont: July 4 9:30pm Boulder County Fairgrounds located at Hover & Boston. Fireworks at 9:30pm.

Loveland: July 4 8pm Contact: (970) 962-2727 Celebrations at North Lake Park located at the corner of Taft Ave & 29th St. An 80+ member band will play many patriotic favorites culminating with the fireworks show at 9:17pm.

Morrison: July 2 & 3 3pm-10pm Bandimere Speedway 3051 S. Rooney Rd Morrison, CO Fireworks * Jet Cars * Drag Racing * Troop Salute * Games * Rides * Music * Contests * Magicians *Food * Show * Car Toys Aftershock Stage with live entertainment * More! Fireworks at 9:30pm both nights.

Nederland: July 4: This scenic mountain town celebrates a midsummer rite with a noon parade in downtown Nederland; fireworks at dusk over Barker Reservoir; and live music in the evening. 303-258-3266, ext. 23.

Northglenn: July 4 6-10:30pm Contact: 303-450-8800 EB Rains Jr. Memorial Park 11801 Community Center Dr. Northglenn, CO 80233 Numerous activities. Fireworks at 9:30pm

Parker: July 3 6-10pm Contact: 303-841-0353 Salisbury Park, 9200 Motsenbocker Rd in Parker. Live music, food vendors and children’s activities. The fireworks display will begin at 9:30 p.m.

Westminster: July 4 7pm Contact: 303-430-2400 ext. 2223 Westminster City Park 10455 Sheridan Blvd. Westminster, CO Concert by the Nacho Men, food vendors Fireworks at 9:15pm.
A HUGE thanks to our wonderful friends at Perry & Co. for compiling this list. Perry & Co. is a Denver tradition, specializing in Denver residential, commercial, land, and investment properties.

Have a safe and happy 4th of July holiday from Colorado Landmark, Realtors!

Tax Credit Home Sale AND National Open House Weekend - Boulder, Broomfield County Homes Open and On Sale!

Colorado Landmark, Realtors is leading the charge for housing recovery in our Boulder and Broomfield County communities.  The first time home buyer ($8000) and repeat home buyer ($6500) tax credits will no longer be available to buyers who are not under contract by April 30, 2010.  We have worked hard with many of our sellers to reduce asking prices on some of our best listings by 3% or more!  Check out this link to the IRS website for more information on the tax credit.

This Saturday and Sunday April 10th and 11th  is National Open House Weekend.  Colorado Landmark, Realtors will have many of our price-reduced homes open, as well as some of our brand new listings.

See the list of our Open Houses at http://www.landmarkopenhouse.com/ OR http://www.boulderopenhouse.com/.

News You Can Use - Tax Credit, Unemployment, Boulder Housing Market

If you read my blog you know that I will give you the straight scoop - no sales pitch or baloney here! If you dare, read on ....


As long anticipated, the House and Senate have both approved an extension to the homebuyers tax credit of 2009. The credit will now be extended to April 30, 2010. First time homebuyers will get a credit up to $8000 depending on income level, and veteran homebuyers who have been in their home for at least 5 years can receive up to $6500 depending on income level. The original tax credit was set to expire November 30th. Every realtor in the country is now going to be emailing their clients saying "now is the time!" Is it??


This IS good news for homebuyers who want to keep some cash in their pocket after their purchase. The other good news is that interest rates are still at near-record lows. I researched rates in Colorado today and for a $250-299k conventional loan with no points borrowers can get rates between 4.75-5.125% with varying fees. A jumbo in the $500-549k range will be at 4.875-6.4% with varying fees.


The bad news is that unemployment figures continue to be discouraging. At the national level CNN reports that we hit 10.2% in October 2009, the highest level reached since 1983 and indicating 22 straight months of declining employment. Worst case forecasts for the first two quarters of 2010 are in the 10.5% range. Among the hardest hit sector are teens ages 16-19 whose rate rocketed to 27.6% in October. Teens now have to compete with adults for jobs in industries like food service and retail, typically dominated by the teen demographic. Obama has signed a bill allowing the jobless to receive up to an additional 20 weeks of unemployment benefits which is sure to help out many households, even in our relatively stable and affluent Boulder area.


In Colorado we are hovering around a 7.0% unemployment rate. The state's unemployment figures for October will come out on November 20th. In our immediate area, for September 2009 Boulder County was at 5.5%, Broomfield County was at 6.6% and Weld County was at 7.5%. Some major area employers (IBM, Sun) have announced pending layoffs but it is unclear how many of them will come from our area. And of course our white knight Conoco Phillips is scheduled to bring jobs to our area but the initial build-out of 2012 is suspect, and could be pushed out by a couple years. That's a chicken we can't count until it hatches!


The term "jobless recovery" is being thrown about, but how our nation or our local economy can experience a real recovery without putting more people back to work is beyond me.


All that bad news being said, in Boulder (MLS sub-area 1) median home prices remain stable in the low-mid $500k range. Louisville (MLS sub-area 2) median home prices have jumped all over the place, ranging from $310-425k over the course of 2009 so far, coming in at $$324k in October. Longmont is steady in the low $200's. Superior is a robust market seeing median home prices range from $342k all the way up to $675k! Proximity to transportation, employment, open space, good schools, etc... continue to bolster the Louisville-Superior area's housing market.


So ... to buy or not to buy ... Speaking from purely my own opinion if you have some confidence about your employment situation and intend to stay in your house more than 2-3 years then this really IS the time to buy. And that's honestly not realtor-speak, because I am not one! The late fall-winter selling season typically gives buyers the least amount of inventory to look at, but the most negotiating power. The combination of the tax credit and crazy-low interest rates makes this a perfect storm for you (in a good way). If you have dreams of becoming a fix and flip artist though, think again. Probably too risky given that we don't know exactly where housing prices are going to go.


If you are a seller, consider putting your home, or keeping your home, on the market this winter. Yes, there are fewer buyers, but those in the market are serious. Relocation buyers (job transfers, life changes, etc...) are still out there too in addition to the local prospects. And your home will look so pretty decorated for the holidays! BUT (and there is always a "but") these buyers are going to be looking for a deal, if not a steal. If you want top dollar for your home then frankly don't list it. (And expect to wait until around 2014 to get your price! again, my opinion)



As a seller, if you have some room to negotiate and just want out, then price it fairly given it's condition, age, and location. Offer a buyer something for "free", like a view, or landscaping. How do you do this? Price it similar to a recently sold home or another currently listed home that perhaps didn't have your location backing to open space, or your soothing backyard pond. This way the buyer thinks they are getting a freebie. Let go of that "gotta get" mentality and the ego that compels you to want to get more than your neighbor did for their home. This is not time to worry about stuff like that. I have trained many of my agents on "price positioning" and we are seeing great results.


Stay tuned for more information and insights from Colorado Landmark, Realtors - your Boulder and Front Range experts.



Pam Metzger
Colorado Landmark, Realtors
pam@coloradolandmark.com
twitter = @pmcolorado

How about some good news for a change?

In crazy economic times like these, it's great to be finally hearing some good news about the market and the Boulder/Denver area is especially getting a lot of positive attention lately.

• Last week, Money Magazine voted Louisville the best place to live in America for the second year in a row. Superior was also on the list, coming in at #13. The criteria was based on factors like strong economies, great schools, affordable housing, low crime, and proximity to the outdoors and all that beautiful Colorado has to offer.


• Forbes also just listed Denver as #13 on their 2009 Best Places for Singles due to a fantastig restaurant/bar scene, a ton of popular sports teams (Denver Broncos, Denver Nuggets, Colorado Rockies, Colorado Avalanche), as well as incredible outdoor recreation options.


• The Denver Business Journal recently reported that even with a recession, the selling prices of homes are rising in some of the area’s most desirable neighborhoods, including Boulder, Louisville, and parts of Denver.


• The American Legislative Council just ranked Colorado #2 for economic recovery based on low tax rates, Colorado's Taxpayers' Bill of Rights and expenditure limitation.

All this news shows that even in a recession, the Boulder/Denver area is still a great place to buy a home. For more information about our company and how a qualified Realtor can help you find your perfect Colorado home, whether it is a condo in Denver, a single family home in Louisville, or a luxury home in Boulder, visit http://www.coloradolandmark.com/.

Posted by:

Jennifer Fly

303-506-0253

jenniferfly@coloradolandmark.com

Twitter: jenflycolorado

Boulder MADE This List! 10 Best Cities for Recession Recovery

If you have read any of my blog posts you know that I love lists and rankings, especially when one of our local communities makes it on a good list. Fortunately for us here in the Boulder area that happens often, like this time in the RACE to economic recovery for towns and cities across the country.


Some cities are likely to recover more quickly from the housing downturn than others. And aren’t we lucky to live in one of them! Forbes.com just named Boulder, CO to its list of the 10 Best Cities for Recession Recovery in the US. We are all familiar with the cliche that the three most important things in real estate are location, location, and location. This is true for recovery from a housing market crash too. Economists expect the national economy to return to growth later in 2009, perhaps as soon as this summer, and Boulder is poised to lead that recovery in Colorado.

Forbes used projected gross domestic product data from Moody’s Economy.com as well as unemployment figures from the Bureau of Labor Statistics, and home prices, incomes and affordability data from the National Association of Home Builders. Because, in general, healthy cities were not victims of as severe a housing collapse, home prices were not used in ranking the cities poised for recovery. Well thank goodness for that! In the city Boulder real estate remains strong ... the median home price for May 2009 was $499,900 while the average topped out at an incredible $643,454. Lafayette, Louisville, Longmont, Broomfield, Superior, Erie and Loveland/Berthoud real estate markets all remain affordable options near Boulder with median home prices in the $200,000-400,000 range.


The Boulder area's Gross Domestic Product (GDP) was reported at $15.6 billion and projected to be $16.3 billion at the end of 2010. Unemployment in the area is running a low 5.7% compared to a national rate that is creeping up just under that scary double digit mark. The University of Colorado provides an abundance of stable jobs for the region. Boulder is also home to a number of high-tech laboratories. Moody's projects the economy of Boulder will dip less than 1% before growth resumes in the first half of this year. My family and I were out Saturday night getting a bite to eat, and with restaurants like Jax Fish House and The Med telling us that wait times for our party of four would be over an hour to an hour and a half, it sure doesn’t feel like there is a recession here in Boulder! Could it be because Boulder is BOLDER? (yes, pun intended!)



This article posted by:
Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
pam@coloradolandmark.com
www.twitter.com/pmcolorado