RE/MAX of Boulder News

The residential real estate market in Boulder Valley is predicted to make a slow recovery in 2010. This is a good prognosis for the New Year for RE/MAX of Boulder’s 86 full-time Realtors®, and it’s also excellent news for all homeowners and first-time homebuyers who plan to take the plunge into home ownership this year to take advantage of the tax credits.

According to Ken Hotard, senior vice president of the Boulder Area Realtor Association, “The worst is likely over, but don’t expect a quick recovery. Jobs are still a problem and until we see job growth, there will be no significant recovery in the housing market.”  But he also states that if you’re in the position to buy, with access to credit or cash, this is the BEST time to buy.  Low interest

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“The wheels on the bus go round and round”….this quaint children’s song can refer to our economy as well. We need to help get the wheels of the housing market turning again. Housing is the center, the lifeline, of our country's economic engine. On Nov. 6, 2009, President Barack Obama did his part by signing into law an extension and expansion of the homebuyer tax credit.  This act is being hailed by both economists and real estate leaders as a significant part of our government’s efforts to boost the American economy. According to an article by Maria Patterson & Stephanie Andre in RIS Media, the estimated cost of the homebuyer tax credit, part of the Worker, Homeownership & Business Assistance Act of 2009, is $18.5 billion, yet another mind-boggling sum

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The Editors of Money magazine examined its list of the top 100 Best Places to Live and identified these 10 counties where the living is easy and the unemployment rate is far below the 10% national average.

1. Cass County, ND - 3.4% unemployment
2. Madison County, NE - 3.9%
3. Platte County, NE - 4%
4. Sarpy County, NE - 4.7%
5. Dallas County, IA - 4.7%
6. Grafton County, NH - 5.1%
7. Dane County, WI - 5.2%
*8. Boulder County, CO- 5.3%
9. Roanoke County, VA - 5.6%
10. Saline County, AK - 5.7%

Source: CNNMoney.com (12/29/2009)
BLS unemployment data is from Oct 2009, the most recent available.

*8. Boulder County, Colorado

Towns include: Boulder, Superior, Longmont, Louisville, Lafayette, Lyons, Nederland, Niwot
Best Places to Live rank: 13th

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Boulder, Colorado has made many TOP 10 Lists during the past 10 years, having been cited 95 times in the past decade alone for various accolades. What a great place to live, work and go to school! National publications such as Forbes, Business Week, Wall Street Journal, Men’s Journal, American Style and Vegetarian Times think we’re great, too. Boulder County is fit, healthy, green, culturally friendly, smart and a perfect place to dine out, bike, retire or be a vegetarian.  What more could one ask for? If you haven’t visited, do it in 2010, I think you’ll agree, it’s a great town for a vacation. If you decide to look at real estate in our fair city, know that it’s a safe place for your real estate investments. It’s true that Boulder County home
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If you will please indulge me for today’s blog, I want to veer off the real estate track and talk about something very dear to my heart. ‘Tis the season for giving and making those lists, checking them twice, and making sure everyone in the family has a gift or two under the tree. Even Uncle Fred. Now, even though Uncle Fred doesn’t really need anything, we search the malls for something to wrap up for him. I have a better idea. How about making a contribution to your favorite nonprofit on his behalf?    According to a recent survey from the Colorado Nonprofit Association, 56% of the State’s non-profits reported a time during the past year when their total expenses exceeded their total revenue. Times are tough; due to the economy, charitable giving…
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OK, now that I have you excited about the Homebuyer Tax Credit and you have realized the value of this program, I want to give you a simple checklist that will make your life easier.  
  1. NO PROCRASTINATING – Call your Realtor® pronto. Start looking now. There is nothing worse than trying to make a last-minute decision under pressure because it’s almost April 30, 2010 (the deadline to be under contract). There are fewer buyers looking at homes in January and February than there will be in the Spring. Believe me when I say less competition is to your advantage. If you have a home to sell, get it on the market and price it aggressively. They are “deals” to be had in the Boulder CO real estate market right now. 
 
  1. PRE-APPROVAL FOR A
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It’s a pretty sure bet that we all have other things on our minds this time of year. If it’s not the frigid weather, it’s those holiday lists that haunt us day and night. House-hunting and home-buying are probably not on the top of our “to-do” lists. But, I’m here to tell you why they should be.    On November 9, 2009, Congress approved the tax credit extension for first time homebuyers, and EXPANDED IT, opening it up to some existing homeowners also. The credit is now 10% of the home price, up to $8000 for first timers, and up to $6500 for move-uppers or move-downers. You must be under contract by April 30th of 2010, and closed by June 30th. To be considered a first timer, you can’t have owned a home in the past 3 years. For existing
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It's cold in Boulder.....twenty plus below.....bitterly cold. The Colorado ski areas are thrilled, two feet or more of fresh snow! Be patient, it's warming up, not just weather-wise but in the real estate market as well.   According to the Denver Post on December 9th, 2009, Metro Denver showed its first year-over-year improvement in 11 months, as the number of homes sold in November surged 23% over the same month in 2008. The economy is warming up and that is good news.  Confidence levels are improving and that will be a boost to the economy across the board. Part of this surge may be due to the rush of first time homebuyers who thought the tax credit program was going to expire on November 30th. The good news: it has been extended for five…
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We are sure that you have been barraged with negative news reports regarding the status of real estate. We are here to assure you that having a national real estate report is like having a national weather report. It may be snowing in the northeast, rainy in California and pure sunshine in Boulder, Colorado.

Here are our local predictions for the year 2009.

  1. Warmer weather will bring two things, more buyers and more inventory.
  2. Eager to get the ball rolling on house purchases, the lenders will be lowering the interest rates. Historically, the interest rates have increased as we get into the buying season. Now would be a really good time to refinance.
  3. While everything is not rosy in our marketplace, we in Colorado are in a much
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