Boulder Market - still something to offer

Boulder Market has Home-buying and Investment Opportunities
The national real estate market has received a fair amount of negative attention lately. Consequently, it is understandable that Boulder County property owners are wondering how all of this negativity affects our local market. Buyers are reportedly taking their time to decide and are in no hurry to make purchases, while some sellers are generally out of touch with what is going on in this market. Although the national real estate market has been negatively impacted, Boulder is unique and doesn’t fit the traditional mold of a city or of other real estate markets across the country.

Although Boulder is seeing the effects of a market slowdown, agents at RE/MAX of Boulder believe now is the time to buy. Fewer people are looking to buy homes than in the past, but more sellers in the market means buyers have a better inventory of homes from which to choose. As a result, prices have softened and sellers have even dropped the price of their homes to sell them. In some cases homes can sit on the market for six to nine months, especially higher-priced homes. Agents are recommending sellers pay to stage their homes, as experience has shown that homes that “shine” and are priced competitively will sell faster.

Although the market is not as strong as in years past right now, some positive signs show an upward trend may be on the horizon. Statistics from IRES LLC show that prices have softened, but Boulder real estate has continued to appreciate over the last two years while surrounding areas have suffered. There is a growing trend of people transferring here for new jobs, which means more buyers in the marketplace. Sellers are taking homes off the market and renting them out to take advantage of a strong rental market. With homes coming off the market, the amount of inventory will start to decline. All of these factors demonstrate why our market is unique and emphasize the point – even though the press has been reporting that nationally values will continue to drop, our market will hold its own.

Under these market conditions RE/MAX agents see opportunities for both buyers and investors alike. The rental market is strong; there are quality tenants and rising rental rates. Thus smart investors are buying income properties while the market is slow and it is still difficult for buyers to get financing. Some agents predict buyers will find good deals through the first of January and the market will make a comeback in 2008 for a stronger year. Remember, they advise, Boulder remains a desirable place to live and an excellent place to own real estate. With its proximity to the mountains, temperate climate, high quality of life, abundant open space and limited future development potential, Boulder County will always have a greater demand than supply for homes. Therefore the values should continue to rise in the long term. Don’t miss this opportunity to buy; contact your RE/MAX agent today!

By RE/MAX of Boulder, Inc.