Boulder Real Estate
Here’s to a great 2008!
2007 was an exciting year! The heavy snows of last winter resulted in a slow first quarter and a delay in the spring real estate market. When the snows melted, the sales began in earnest and the spring and summer market were strong. Early August marked the beginning of the credit crisis, characterized by failing mortgage companies, tight credit and rising interest rates.
Overall, the number of sales in Boulder County was down roughly 6.5% when compared with 2006. Prices continue to be steady, with some areas appreciating a bit and others losing a bit of value. Don’t let the national news releases scare you. Real estate is local, and our local area is doing much better than most areas in the country. In Colorado we have good fundamentals, a net population increase in the state of over 100,000 people and a decrease in building permits of 26% in 2007. These positive fundamentals mean that basic supply and demand for housing is headed the right direction. Homes that are truly priced well are selling. Buyers have the luxury of taking their time to make a decision.
The New Year promises great opportunity. I’m going forward with great enthusiasm! Be sure to keep me in mind if you, a friend or a relative will need to buy or sell real estate this year.