South Boulder price increases
South Boulder is finding property price increases from 5 percent to 10 percent annually. RE/MAX of Boulder, Inc. follows real estate activity in the Table Mesa, Frasier Meadows, Park East, Baseline, Martin Acres, Majestic Heights and Devil's Thumb areas.
The inventory for these areas is about average for this time of the year and the percent of listings under contract to the amount of active listings is quite high - at 44 percent.
RE/MAX of Boulder projects a continuation of price increases in the 5 percent to 10 percent range. However, Boulder had price booms in '87, '94 and '98 and another boom could be coming where price increases hit 20 percent for a year or two. People wanting to live in Boulder as much as economic conditions in the nation will drive the bigger increases.
Another trend in South Boulder is remodels, “scrape-offs” and “pop tops,” especially in Martin Acres and Table Mesa. A “scrape-off” is when a home is razed and a new home built in its place, whereas a “pop top” is when an addition is built on top of the home. Homes that would have sold in the $300,000’s have been redone and resold in the $590,000 to $680,000 price range. In fact, one Realtor did this with a house in the area, purchasing it in 1988 for $86,000. The Realtor built onto the top of the home in 1992 and sold it in 1999 for $280,000. Then – just to keep it interesting – the Realtor bought it back 20 months later for $375,000 and is now reselling it for $590,000!
South Boulder certainly affords excellent potential.
By RE/MAX of Boulder, Inc.
South Boulder Price Increases
Boulder's Mountain Market
Living in the mountains around Boulder
Do you want to live in the mountains outside of Boulder? Are you looking for a home in the $600,000 to $900,000 price range? RE/MAX of Boulder, Inc. specializes in mountain properties. A wide range of homes are available and buyers will get more home for the dollar in the current market. Restrictions on new construction in the foothills and mountains of Boulder County can make it difficult to build the big, beautiful home you want, but you may find what you want in a resale home at these price points.
The majority of buyers in the market are young, professional people who have the time, patience and financial status to take their time and find what they really want. That commitment of time and effort should bring people into the
community who take pride in their homes and truly want to enjoy the mountain lifestyle.
Potential sellers with houses valued up to around $500,000 should take heart in the fact that a limited number of homes in that price range are in the market. We all know that when the supply is low, the demand is high. If you are thinking of making a move, now is the perfect time to talk to a real estate professional and find out what this market can do for you!
By RE/MAX of Boulder, Inc.
Louisville's Downtown Boom
Louisville's appeal
Louisville is drawing people with the appeal of its "downtown" lifestyle and the upcoming FasTrack stop, providing transportation north to Longmont, south to Denver and west to Boulder. RE/MAX of Boulder Realtors watch the market closely. Most recently, buyers have purchased small, older buildings in the downtown area to renovate or raze and rebuild with quality, high-end homes. The city is restricting this activity on some historic buildings but growth and change are still occurring. The market has been very active and growing for the past six months with 20 percent to 30 percent of the homes offered for sale under contract. Homes available in Louisville are in all price ranges and types to fit the economics and family dynamic of a varied group of people.
Louisville has a great sense of commuinty. If you already live in Louisville or are interested in making your home there, check out the city’s website which provides a calendar of events from meetings to area revitalization discussions to social activities. Or, better yet, stop by the Downtown Street Faire on a Friday night to see the art work and listen to the music - you just might run into a RE/MAX of Boulder, Inc. Realtor!
By RE/MAX of Boulder, Inc.
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