Real Estate News-February 2013

   REAL ESTATE NEWS 
 February 2013

Boulder/Denver Condominium Market

Boulder: The condominium market in Boulder remains healthy up to $750K, with more

units selling in January 2013 as compared to January 2012, and with less price negotiations.

Boulder’s condo market cools off and becomes a Buyer’s market with prices above $750K.

Denver: The condominium market in Denver is hot below $300K (a Seller’s market), is

healthy between $300K and $500K and cools off above $500K (a Buyer’s market).

The volume of units sold in January 2013 is higher as compared to the same month

last year and there is also less negotiation on price.

Boulder/Denver Single Family Home Market

Boulder: Boulder’s single family home market is hot (a Seller’s market) up to

$750K, and is stronger than it has been in many years between $750K and $2mm.

Denver: Denver’s single family home market is even hotter than Boulder’s

market up to $500K (a very strong Seller’s market).  The Denver market remain

healthy for price ranges between $500K and $1mm and then cools off and becomes

a Buyer’s market above the $1mm range.

In Summary: Ample demand and minimal supply.  The market showed a significant

increase in activity in 2012 as compared to the previous 4 years.  2013 has started

off being even stronger than 2012 with significant Buyer pent up demand, a lack of

inventory and low interest rates.  Very little new housing construction occurred in

recent years, which limits Buyer choices.  In the lower price range segments of the

market, prices are rising, in some cases above the peak values of 2006/2007.

Information and Real Estate Services and Metrolist. All reported sales were not

necessarily listed or sold by Four Star Realty and Property Management, Inc. and

are intended only to show trends in the area.

 

 116 Jackson Drive
 $194,900
 Erie, Colorado

1710 Redwood Ave
$829,900
Boulder, Colorado

 2256 Ash Street
 $915,000
 Denver, Colorado

2882 Sundown Ln 305
UNDER CONTRACT!
Boulder, Colorado

Please enjoy these coupons from local merchants provided especially for FourStar clients.

 
 
 Mortgage Type
 National
 Local
 15 Year Fixed
2.91%
2.75%
 30 Year Fixed Jumbo
4.08%
4.125%
 30 Year Fixed
3.59%
3.375%
 5/1 Arm
2.81%
2.5%
 5/1 Arm Jumbo
2.92%
2.875%
 FHA 30 Year Fixed
3.375%
3.125%
Examples and are based on market conditions as of January 29th, 2013. Local rates include 1 point paid to Lender. This is not a guarantee of any kind.  Interest Rates are subject to daily change based on market conditions and a variety of specific qualifications for borrowers.
 

Local News

Denver home prices up 7.8% in a year; hit 5-year high Denver area home prices rose 7.8 percent in November 2012 from a year earlier, the metro area’s biggest year-over-year price gain since before the recession, according to the latest S&P/Case-Shiller Home Prices Index. Read More

Forecast: Colorado should add jobs in 2013  Colorado will add 35,000 jobs this year as sectors such as homebuilding improve, though economic uncertainty will remain a constant because of Washington politics and the Affordable Care Act. Read More

2012 ends with property-buying boom in Boulder County The year 2012 ended with a December to remember for investors in commercial and multifamily real estate in Boulder and Broomfield counties. According to Boulder County property records and data supplied by SKLD Title Services Inc., 23 commercial or multifamily housing properties were sold in Boulder County in December for more than $1 million each. Together, the deals were worth more than $163 million. Read More

Louisville to explore residents’ appetite for tax, debt in exchange for improvements Are people living in Louisville willing to vote themselves a tax increase — or allow the city to incur additional debt — so that money can be raised to fund much-needed capital improvement projects, like an expanded recreation center, more pedestrian and bike connections and an outdoor aquatics facility? Read More

Broomfield mulls plan to expand trails network With 250 miles of trails for residents to use for cycling, running and walking, Broomfield’s trail systems connect to regional routes that take people through rolling open space and around area lakes. Those trail connections could become even more enhanced and interconnected if Broomfield enters into an agreement with Lafayette by contributing to improvements on a 140-acre property that is the site of a former farm. Read More

Lafayette OKs 4-month curb on homebuilding The Lafayette City Council on Monday approved a four-month moratorium on the issuance of residential construction permits so city planners can determine how best to comply with changes to the city’s growth plan that were approved by voters in November. Read More

Longmont’s Twin Peaks Mall deconstruction to begin  The deconstruction of Twin Peaks Mall is set to begin Monday, Jan. 28, with workers cutting off access to the mall’s old food court. NewMark Merrill is converting the 550,000-square-foot mall at 1250 S. Hover St. into an outdoor shopping village that will include a modern movie theater with at least 12 screens and be anchored by a 100,000-square-foot retailer. The new shopping center will have approximately 470,000 square feet of retail space. Read More

2013 Cost vs. Value Report

Homeowners looking for the most return on their investment when it comes to remodeling should consider the 2013 Remodeling Cost vs. Value Report. The chart below compares the most valuable home improvement projects for Denver, CO.  To see data for other cities Click Here

   
                 
   
Courtney Trice
Broker Associate
720-987-9651
                 
1938 Pearl Street, #200    Boulder, CO     80302 
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