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February 2007 Statistics Number of Sales Off 22% For The Month

by | Mar 2, 2007 | Statistics

 

February 2007 Statistics

 

Number of Sales Off 22% For The Month

 

There were 181 sales of single family homes in Boulder County that occurred during February. This is down from 238 a year ago. So far for the year the combined sales are down 14%. As I mentioned a few posts ago, it seems like the market is picking up and there are currently 362 properties under contract.

 

 

 

Median Price Down From January, Unchanged from 2006

The median price for a single family home in Boulder County was $344,000. Compare this to $377,000 in January and $343,000 during February last year. As you can see from the chart below, there is no statistical pattern for seasonality of price. However, we have seen modest price increases over the past few years county wide.

 

 

 

Boulder Real Estate Showing Activity

by | Feb 27, 2007 | Statistics

Showing Activity

A good gauge of market strength is the number of showings that are being set up by listing offices. Roughly 2/3 of the offices (a guess) set up showings using our MLS providers showing service. These showings are searchable by area and time frame and gives an interesting frame of reference on where the action is taking place.

The weather finally broke a few weeks ago and it has been great to see the ground clear of snow. It looks like the buyers are liking it as well. During the seven days starting January 15th there were 749 total showings for single family homes in Boulder, Louisville, Lafayette, Superior and Longmont. During the first week of February we were had 687 showings, the second week 829 and the third week 1,007 showings. There were 46% more showings the third week than the first week!

I also searched by price range for the month to see how many showings the average listing had per price range.

  • Less than $200,000 2.26 showings thus far in February
  • $200,001 – $400,000 2.56 showings thus far in February
  • $400,001 – $600,000 2.70 showings thus far in February
  • $600,001 – $800,000 2.05 showings thus far in February
  • $800,001 – $1,000,000 1.12 showings thus far in February
  • Greater than $1,000,000 1.13 showings thus far in February

Not many showings per listing for a three and a half week period but, as I mentioned before this does not represent all of the showings set during the month but it does give a good comparison across time, area and price range. It seems like the market is heating up a bit.

Inspection Issue – Lead Based Paint

by | Feb 22, 2007 | For Buyers, For Sellers

Inspection Issue – Lead Based Paint

The discussion of lead based paint comes up in every transaction that involves a house built before 1978. All sellers and landlords are required to disclose in writing the knowledge of any lead based paint hazards and provide results of any previous tests that they may have to any potential buyers or tenants.

Lead based paint has been linked to health difficulties primarily in children but can also be hazardous to adults. Most older houses have lead paint somewhere under the layers of paint in the house. So what is the hazard. If the lead paint is contained it is not an immediate hazard. Only when the paint is released by chipping, sanding etc. It can be in the air, contained in dust or it can be in exterior soil.

In a real estate transaction a Lead Based Paint Disclosure must be filled out and signed by the Seller, Buyer and both real estate agents. This disclosure must be signed before and concurrently with the purchase agreement. If it is done after the fact heavy fines can be placed on the Realtors. Along with the disclosure booklet explaining the hazards of the condition must be received by the buyer.

The buyer has the right to have the house inspected for lead based paint hazards but in my experience I have never seen a buyer have the tests performed. The testing is expensive and can be invasive (samples). I think the object of the program set forth by HUD is education and I think that goal is being fulfilled.

 

The EPA has a very informative websitewhich has more information if you are interested in learning more.

 

 

The cabin shown above is still standing, although I’m sure it is a lead based paint hazard. It is my grandfathers old cabin in MN near Itasca State Park. He passed away just over 8 years ago and my cousin and I have since built the new cabin below on a different location on the land overlooking Gill Lake.

 

Supersize It – Houses in Boulder County are Getting Larger

by | Feb 20, 2007 | Uncategorized

Supersize It –
Houses in Boulder County are Getting Larger

According to a recent Boulder Daily Camera article “the average size of new homes permitted in the county has nearly doubled, from 3,627 square feet in 2002 to 6,290 square feet last year. ” In Boulder county we are seeing large homes being built mainly in the suburban plains, the mountains and infill in the City of Boulder. Many residents are complaining about the large homes. The complaints center around two main themes; the McMansions consume too many resources and the large homes are ruining the character of the neighborhood.

Boulder is a very ecological aware community. A segment of the population is always trying to save energy, recycle etc. They feel that huge homes waste energy and the commissioners should not condone the waste. The people who build the large homes say that they are the ones who pay the costs of having a large home so they are penalized enough. So far the private property rights have prevailed. During 2005 – 2006 40% of new homes were between 5,000 and 10,000 square feet. In fact the average size of a new home built between 2000 and 2006 in Boulder County was just over 5,000 square feet. Compare that to just over 2,000 square feet in the 1970’s.

One area that is a prime example for neighborhood change is the Newlands in North Boulder. During the past ten years many of the small traditional bungalows have been replaced by very large homes that in many cases fill most of the land on the lot. The Boulder County Land Use Department states that the average magnitude increase in the size of new homes over the ones they replace in all of Boulder County is 2.6. That translates into a new home that is 3,041 square feet larger than the old house!