Phil Boren, Boulder Real Estate, Boulder Homes For Sale

Why is Denver real estate a great investment? Colorado's Front Range, including the areas between Denver, Boulder, and Ft. Collins, affords residents with a quality of life that's hard to find anywhere else. I recently saw the following interview on FoxNews with Greg Rand of OwnAmerica.com, where he does a good job of explaining how and why he thinks the Northern Colorado real estate market is a great place to invest right now:

Greg makes some compelling points in this interview, not the least of which is the fact that Denver-area foreclosure rates are just 1/2 of the national average. The relatively unique situation we have right now with single-family-home investing is also really important to note. Basically, there are some real advantages to single-family vs. say multi-family investing right now:

• Single-family home prices have been facing downward pressure because of comparable sales, while rents have increased. From an investment standpoint, that's a good combination that increases returns.
• By contrast, apartment values are increasing along with rents, as their value is tied directly to cash flows.
• Single-family homes are more "granular", as Greg describes it, which is basically a comparison of the ability to sell one home in a portfolio vs. having to sell an entire apartment building.

Niwot Hills Estates in Niwot, CO, is a small enclave of signature custom homes on acre+ lots, surrounded by acres of open space, and is home to some of the newest and most exclusive single-family residences in Boulder County. Located along the north side of Niwot Road., just west of 95th St. and just east of Somerset in Niwot, Niwot Hills features open space, hiking trails, and stunning views. Other benefits include the proximity to Niwot High School, Niwot Elementary School, Old Town Niwot, and and easy commute to Boulder, Longmont, and even Lafayette.

View Niwot Hills, Niwot, CO in a larger map

Based on current IRES data going back to 1-1-2011, here's a summary of recent Niwot Hills home sales activity:

There are currently 2 active listings that range in price from $1,949,500 to $2,085,000, with an average and median of just over $2.017M. During this time period there have been 4 closed sales, ranging in price from $1.445M to $1.86M, with an average of $1.714M and a median of $1.775M.

Marketing times (days on market) for Niwot Hills homes have varied from 137 to 238 days on sold properties during this period, with an average of 177 days. However, the cumulative time (which includes re-listed properties), reflects a much higher average of 363 days. Current/new listings reflect a DOM range of 89 days to 164 days.

If you're interested in Niwot homes, Niwot Hills offers a unique combination of privacy, exclusivity, views, and open space. For more information on Niwot Hills or on any Niwot home for sale, contact us at 303-441-5647 or 720-579-8800.

Boulder, CO Condos For Sale: A market review of the past 12 months (through September, 2011), indicates that the overall Boulder condo market has improved. Using IRES data as of today (10/12/11), you might be surprised at the variety of condo/attached dwelling inventory available in the City of Boulder, with units ranging in price from under $100K to nearly $6M! And with 433 attached units on the market today, IRES reports that 65 (or 15%), are under contract. Feel free to review a statistical report that summarizes the general Boulder condo market activity over the past 12 months:

It's typical for there to be some seasonality in Boulder condo-market stats, but the data in the above report reflects some note-worthy trends. Specifically, the 13.8% increase in the median price of a sold listing is encouraging, as is the increase in the average price/square foot, the decline in the MSI (months' supply of inventory), and the decrease in the DOM (days on market). The combination of all these factors is reflective of an improving market overall; however, it is important to note that these results do not apply to every market segment. Boulder luxury condos have not performed as well in the past year, with longer marketing times and higher inventory being common.

If you've been considering buying or selling a Boulder condo or if you would like more specific information on a particular sub-market in Boulder, feel free to contact us at 303-441-5647 or visit us online.

Louisville, CO real estate market update: Louisville, CO has been one of the better-performing segments of the Boulder County real estate market recently. Specifically, in the 12-month period ending on 7/31/2011, our local MLS (IRES) statistics indicate that over that period the number of single-family resale units for sale has declined 13.1%, the number under contract has increased 110%, and the number sold has increased 58.4% . . . all very impressive numbers.

On a percentage basis, these numbers indicate that the percent of Louisville's inventory under contract has increased 120.3%, the percentage sold increased 72.7% and the months' supply of inventory (MSI) was down 52.1%. In fact, the month of July reflected the lowest inventory level of 3 months' for any time during the past year.

Review more Louisville and Boulder County Data here!

If you're looking for a home in the Boulder, CO area, Louisville might be a great community to consider! For more information about Boulder and the surrounding communities like Louisville, contact us and we'll be happy to provide more information.

Pricing vs. pricing strategy: How often have we all discussed how important pricing is when it comes to listing and selling homes? There's no question that under any set of market conditions, the process of arriving at an appropriate list price is critical. However, not all home sellers want or need to sell their home instantly, which brings into focus the difference between simply pricing a home vs. having a specific pricing strategy.

The process of "pricing" a home is common in our business, but in my 26 years' experience I've learned that one size does not fit all. Clearly, some sellers do need to sell quickly and there's an appropriate strategy for that. There may also be some value in not simply pricing a property with a cookie-cutter approach, but developing a pricing "strategy" that takes into account market conditions as well as the seller's specific objectives.

A lot of brokers who list REO's already do this routinely; the bank has a hightened sense of urgency to sell the property and, many times, wants to sell the property quickly. As a result, they may list the property at a price that they hope will accomplish that. What I think many of us may be overlooking is that the process works the other way, too. Take, for example, the seller who has a well-thought-out reason for not wanting to sell in 5 minutes: What is the appropriate pricing strategy for them? Don't most CMA's result in a suggested price range? Where in that range is appropriate for this particular seller?

This is obviously not about the seller who is in denial about their $300,000 home being worth $400,000; there is no effective strategy for that. It just seems to me that with something as important as pricing is to our clients' success, we should be developing pricing strategies that are as unique and varied as the homes and the clients we represent.

If you're interested in selling a Boulder home, let's talk about the most effective pricing strategy for you and get your home sold!