Ann O'Connell

The Denver metro area has been receiving a lot of press lately as being one of the best places in the nation for real estate investment. Here's a video laying out why now might be the time to invest in the Denver area: http://www.youtube.com/watch?v=Y9frmEv-vPA&feature=share

Furthermore, rental rates in Boulder and Denver counties are at an all-time high in the fourth quarter of 2011. The median rental rate in Boulder is $993.85, and the average is $1,037.94. Combine that with the record-low mortgage rates we've been seeing, and you've got ideal conditions for real estate investment. If you find the right property, it is possible to have positive cash flow in either area.

http://www.bcbr.com/article.asp?id=61880

The October 2011 Boulder area real estate statistics are out. Although sales in Boulder and Broomfield since June 2011 have been ahead of the same months in 2010, most areas are still logging a decrease in total number of sales this year versus last year. Last year had a lot of hype over the various tax credits available for home buyers, and I really think that this had a psychological effect of getting people out buying in the Boulder area, even if the credit didn't actually come into play in many Boulder area home purchases. Ironically, for many in the Boulder area, now is a better time to buy, since interest rates remain at crazy lows. Anyway, here's the link to the hard data.

I love the mountains. Being close to the mountains was one of the reasons I moved to Boulder. I definitely am in the flat lands more often, and wouldn't want to do all my business in the mountains, but I get excited when clients contact me to look at mountain properties. Gives me a chance to get out there and take in some wide open vistas.

Showing properties in the mountains does have its unique, um, "moments." Many of the roads higher up in Boulder County are not paved - they're well-graded and well-maintained, but unpaved nonetheless. That means you're occasionally in for a rough ride depending on where you're going, and you always have to be on the lookout for washboards in the road (for those not in the know, that's a phenomenon where the road gets rutted like a washboard, and, if you're going too fast, can cause for some interesting unintentional maneuvers). Mostly, though, you can't complain about the roads. I give a lot of credit to the powers in charge for that.

What I AM going to complain about, though, :) is the occasional unkept driveway. Once you get off those county-maintained roads, it's a whole different animal. Most homeowners recognize the importance of access and keep them up. Others, not so much. When you're touring a bunch of properties and see a driveway that is just a rutted drop-off on the side of the road, it can give one a bit of heart palpitations (especially when you're by yourself, as I was yesterday, and there's no cell coverage). I think it's worth getting out and checking out the situation first before taking the plunge. The picture here is of a driveway that at first, from the road, looked treacherous, but turned out to be nothing. But I was still glad for all-wheel drive!

Another thing unique to the mountains is that while GPS works, it's not nearly so accurate as it is in the flat lands. So, as a Realtor showing properties you become highly dependent on your knowledge of the area and the directions given to you by the listing agent. Giving directions in miles is most helpful; directions such as drive on Generic Rd. and look for red bridge not so much. How long on Generic Rd.? What shade of red?? It can truly be an adventure. But once the buyer finds their dream home/retreat, it's all worth it. True serenity can't be located with a GPS!

The stats are out for July 2011 Boulder county real estate sales. There was a total of 334 single-family and 103 condo/townhomes sold in the county in July, with a decrease in total sales from last year across all areas except the plains. For the most part, the average sales price of single-family homes was very similar to the same time last year, with Boulder weighing in at an average price of $656,055, up 1.1% from last year's average price of $648,605. Not really enough of an increase to be significant, but it's nice to see that prices haven't fallen. Average days to contract is a bit longer, though; up from 79 days last year to 88 days this year in Boulder. Buyers are definitely being pickier and don't seem to be in a rush.

All in all, nothing too exciting to report. We typically experience a bit of the doldrums around this time of year, and I wouldn't be surprised if all the gloom and doom in the news is affecting buyers' mindsets - even if it shouldn't. As these stats show, the Boulder area has been fortunate, and the national stats just don't apply (shameless plug: all the more reason to hire someone familiar with the local market to help you buy or sell!).

If you want the nitty-gritty details, check out this link from the Boulder Area Realtor Association.

Superior, Colorado, real estate is going strong right now. Of the 62 single-family homes currently on the market, 19 (30.6%) are under contract. As of July 2011, the average days on market was 57 days, down from 67 days over the same time period last year. Average sales price was up, also, from $422,214 to $$428,511. (Source: BARA)

One of the reasons Superior is consistently a desirable place to live is its manicured, clean streets. Everywhere you look, there are parks, neat flower beds, and well-maintained public facilities. So, how can Superior keep up this, um, superior service? (Sorry, I had to!) Every potential homeowner should know that there is a monthly city landscaping fee of $30. This may be included in the HOA assessment (check with your HOA), but for those subdivisions without HOAs (e.g., Sagamore), it is a stand-alone bill from the City. There seems to be some confusion about this monthly fee: I've spoken with some Realtors and residents who believed it gave them access to the recreation centers. However, that is separate - to use city pool and tennis, you just need to present proof of residency and obtain a $5 card for everyone in the household. The City also provides utilities for residents, and you can find out more information about the rates here.

Just some good things to consider if you're thinking about buying a home in Superior, Colorado!