The impact on real estate post flood

September 11th 2013 it started raining and didn’t stop for 2 days.  Boulder and surrounding areas have been preparing for the next flood for years, yet it was still quite a shock when it actually came to fruition.  In my opinion, the City of Boulder did an excellent job preparing as well as executing evacuations and monitoring.  The aftermath of the destruction left people with a mess in their homes and on their properties to clean up.  This City since then has been continuously working to assess the damage, clean up, clear debris and remap to prepare for the upcoming flood season.

My fellow Realtors and I were left to wonder what the impact would be on real estate.  The market was at a stand still for a couple of months following, but has since picked up.  The main concerns we’ve seen since are mold issues.  Mold is not common in Colorado due to the lack in humidity, so this has never been a concern.  If you are getting ready to sell your house, and had some flood damage, it would be best to have all documentation of the mitigation.  I also recommend taking measures to protect against a recurrence. The  remedies can be as simple as proper gutter systems and site grading to move moisture away from the foundation.  A future buyer is going to want to know the source of the water problem and how it was repaired. Your repair and documentation will be critical to their becoming comfortable with purchasing your property.

Provided below are some flood maps that were done back in Nov/Dec.  As they are updated, I will post again.

As we approach Spring, we should see the inventory all throughout the front range and Denver metro pick up.  Here are the current stats from last month:

Lastly, here is an economic forecast from the Boulder County Business Report from Jan 31st

I hope all of this info keeps you informed on what is going on in Real Estate around here.  If you are looking to buy or sell please give me a call!  If you know someone who wants to do the same, I’m always open to, and truly appreciate, your referrals!

Have a wonderful rest of your week~

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