• Boulder Colorado Real Estate

    December 15, 2009 // Comments Off

    Pearl Street Mall in Boulder, Colorado.
    Image via Wikipedia

    The Boulder real estate market is in slightly better shape than the rest of Colorado, although there are still serious problems with the region, and the city seems to be facing a rather tepid recovery. According to a November 25, 2009 article in the Boulder County Business Report, “It’s a cliché phrase in the real estate world, but experts at the Boulder Valley Real Estate Conference & Forecast told audience members that ‘now is the time to buy.’ Giving their views for 2010, local and national real estate experts said they expect the economy to slowly recover, and along with it interest rates likely will rise. About 500 people attended the conference presented by the Boulder County Business Report on Nov. 19 at the Millennium Harvest House Boulder. Lead sponsors were Re/Max of Boulder and The Colorado Group. Brad Blackwell, retail national sales manager of Wells Fargo Home Mortgage, said the U.S. Federal Reserve plans to slowly withdraw its emergency support from the mortgage markets, which likely will raise rates starting in January.”

    Boulder home sales are at least partially dictated by price levels in the city, at least according to a November 24, 2009 article also in the Boulder County Business Report. The piece noted that “Home prices in Boulder County depreciated annually for the first time in 21 years, according to the latest figures from the Federal Housing Finance Agency. The agency, which tracks conforming loans and refinances across the nation’s metropolitan statistical areas, said home prices decreased 0.56 percent year-over-year in Boulder County during the third quarter.”

    One potential problem area for real estate in Boulder was the level of foreclosures, which, although lower than the rest of the state, are still considerably higher than before the recession. According to a November 19, 2009 article in the Denver Post, “New foreclosure filings in Colorado reached a record high of 12,468 during the third quarter, according to a report released Thursday by the Colorado Division of Housing…The rates in Boulder and Broomfield counties, by contrast, were 329 and 230 households per completed foreclosure, respectively. Industry observers say completed foreclosures are down because borrowers are seeking help with loan modifications from Colorado’s foreclosure hotline.”

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    Posted in Colorado