Boulder County market remains strong

Contrary to what you are reading and hearing on the news, our market is much stronger than the national market. Real estate is cyclical and, more importantly, local. Nationally, many areas were experiencing double digit appreciation, while we had only modest gains. Those areas with the very high appreciation rates, are the ones that we are reading about dropping so dramatically. Take a look below and you will see continued, modest gains for the most part in Boulder County.

Another factor in pricing is Inventory. Nationally, accounts of swollen inventory are causing decreasing prices. The inventory in our area is actually the lowest that it has been since the end of 2001.

Solar Electric systems in Xcel’s Colorado territory- Part One

Solar electric or photovoltaics (PV) offers a complemental power source to Xcel electricity that also is aestetically pleasing – in contrast to the big, gaudy, tilted panels used only to heat water left on roofs from the ’80s.

After homeowners take all other steps to ensure conservation and efficiency in their homes, PV is an economically viable and environmentally responsible option for powering houses. PV gives the whole house – not just a particular device or appliance – power. You don’t have to consider what amps a particular device in the house demands, as PV is simply providing electrons to your service panel, or breaker box. Your breaker box, combined with the service size you get from Xcel (e.g.: 200-amp service), dictates or manages the draw each breaker and associated devices connected to those breakers demands.

Next, PV generates power in the form of Kilo-watt Hours (Kwh), the same thing for which Xcel charges you. When you make a Kwh, you either use it (your house has the right of first refusal) or give it back to Xcel for a credit (you are credited at the same rate you are billed unless you produce more than you use over a year, and then it is a wholesale rate at which you are credited for the net balance).

The limiting factors on the size of a PV system for your house are roof space, production goals (you decide – 50 percent, 75 percent, 100 percent, etc., of the power you use) and budget. Assuming you have the space and the funds, we size the system using a historical 12-month total of Kwh usage. Roof direction, roof pitch and shade all affect system size, as well, but here is a quick synopsis: the average Xcel single-family dwelling in Colorado uses around 8,000kwh in a year. With a roof that faces anywhere from 135 degrees southeast to 200 degrees south-southwest and has at least a standard ranch’s roof pitch of 20 degrees, a 5.5 kilo-watt (5,500-watt) will make you darn near what is referred to as “net-zero” – you make as much power as you use in a year.

How much does PV cost? Many factors can increase or decrease PV prices, but the average, permitted, turn-key price, taking into account the Xcel Solar Rewards Rebate (www.xcelenergy.com/solar/) as well as the federal tax credit THAT WILL EXPIRE IN 2008, is about $14,000 (plus local taxes). That translates to a rate of $0.07/Kwh over the next 25 years of warranted power. That is lower than current rates from Xcel and, considering they rise 3 percent to 7 percent a year, that is a heck of a deal!

Tune in next month for more information, or contact me at John.Shaw@BellaEnergy.com.

Boulder County has lowest foreclosure rate in state

Although Boulder County saw the number of homes that entered into foreclosure grow in 2007, it still had the lowest foreclosure rate in the state. The Colorado Division of Housing reported that Boulder had 1,009 homes – or one in 112 occupied units – that went into foreclosure last year. That is an increase of 28 percent compared with 2006.

The next lowest rate was in Broomfield County, where one in 70 went into foreclosure, followed by Larimer County’s rate of one per 68. Weld and Denver counties had the highest rates, with one in 29 and one in 32, respectively, going into foreclosure in 2007.

The state noted in its report that just because a home went into the foreclosure process doesn’t mean it was sold by lenders at auction; homeowners do have an opportunity to catch up their payments or sell their homes before the lenders take possession.

Source: Colorado Division of Housing

Forbes.com names Boulder as America’s smartest city

According to Forbes.com, Boulder has it all – brains as well as beauty.

The magazine recently put the town where the Buffalo roam at the top of its list of 25 of America’s Smartest Cities, based on Sperling’s BestPlaces data for metropolitan statistical areas. With nearly 53 percent of its residents 25 and older having a bachelor’s degree or higher; nearly 4 percent with a doctorate; more than 3 percent with a professional degree; and almost 93 percent with a high school diploma, Boulder has highest percentage of educated adults living here.

While the University of Colorado certainly doesn’t hurt Boulder’s ability to attract smart residents, according to Forbes.com, being one of the most environmentally aware cities in the nation and having a plethora of outdoor recreational activities available to everyone from students to professors to the “overwhelmingly young population” draw the intellectually enlightened ones, as well.

The only other Colorado metro area that made the list was Fort Collins-Loveland, which came in at No. 12. More than 40 percent of Fort Collins-Loveland residents age 25 or older have a bachelor’s degree or higher, while 2.58 percent have a doctorate, about 2 percent have a professional degree and nearly 93 percent have graduated high school, according to Forbes.com.

Here are the cities that round out the top 10 communities that round out Forbes.com’s list of America’s Smartest Cities:

1. Boulder, Colo.
2. Bethesda-Gaithersburg-Frederick, Md.
3. Ithaca, NY
4. Ann Arbor, Mich.
5. Corvallis, Ore.
6. Ames, Iowa
7. Lawrence, Kan.
8. Cambridge-Newton-Framingham, Mass.
9. Iowa City, Iowa
10. Columbia, Mo.

Boulder commissioners to consider new regulations for vacation rentals

The Boulder County Land Use Department is seeking input on revisions to the land-use code pertaining to privately owned residences rented out for short-term use, or vacation rentals.

According to a letter sent to property owners, the county began looking into revising portions of the code that regulate vacation rentals after staff last year began receiving complaints from neighbors of properties in unincorporated Boulder County that had not been rented out in the past or had been rented out for longer periods, but were now rented out to groups on a frequent basis.

The current code allows home rentals of greater than 90 days as a use by right; however, short-term vacation rentals are allowed only if the Boulder County Commissioners approved the property owner’s request for the special use. The exception is if the home has been used as a vacation rental continuously since 1954. While new regulations are under review, the commissioners have issued a stay of enforcement on existing regulations on short-term rentals in unincorporated Boulder.

County staff is proposing to add the term “lodging in a dwelling” to the land-use code, which would define vacation rentals as any residential dwelling rented for less than 30 days at a time. Renting out dwellings for longer than 30 days would remain a use by right.

The proposed regulations would include three different review processes, depending on how often the dwelling would be rented out:

• Less Intense would require only an administrative safety review by the Land Use Department;
• Medium or Mid-level Intensity would require administrative safety review and meet additional criteria to address issues of neighborhood character with a process to appeal the administrative decision;
• More Intense would require the administrative safety review plus the property owner to go through a Limited Impact Special Review process, which includes a public hearing before the Board of County Commissioners.

Regardless of how often a home is rented out, it would have to meet 13 basic safety requirements and possibly conform to additional building codes, such as providing emergency escape and rescue openings for each bedroom, under the proposed regulations.

The county will begin taking public comment on its proposed regulations at a series of meetings starting in March. The first one is set for 6 p.m. Tuesday, March 11, in the Public Hearing Room on the third floor of the Boulder County Courthouse, 1325 Pearl St. in Boulder.

For a look at the draft regulations, visit http://www.co.boulder.co.us/lu/code_updates/lodging_rental/index.htm.

If you are unable to attend the meeting and would like to provide input on the proposed changes, e-mail Abigail Janusz, ajanusz@bouldercounty.org, or call (303) 441-3930.