by neil kearney | Mar 4, 2009 | Uncategorized
Boulder is celebrating its 150th anniversary but one wouldn’t expect there to be many opportunities for archeology. It’s not quite Pompeii, but current construction on Broadway just a few blocks north of Pearl Street have revealed trolley tracks running under a quite few layers of asphalt.
Thanks to the kind librarians at the Carnegie Branch of the Boulder Public Library who pointed me in the right direction, here is the history of those tracks. The Boulder Railway and Utility Company was founded in 1898 with the idea of bringing an electric streetcar system to Boulder. The initial plan was to provide transportation between downtown and the newly built Chautauqua.
The headquarters for the line was located on the SW corner of Arapahoe and Broadway where Whole Foods (Alfalfas) now stands. A coal fired power house was built on the site as well as storage for the four cars. Rails were put into place along with the electric poles during the first half of 1899 with the idea of opening in time for the 4th of July at Chautauqua.
On June 24th, 1899 the Daily Camera headline stated “She Starts, She Moves”. The 3 mile loop was completed in time for the festivities. The original loop ran from downtown to Chautauqua by way of Broadway, College Ave, and 9th Street and returned via 10th, Aurora and Broadway. It was reported that the desirability of the plateau that is now the Chautauqua neighborhood greatly increased with the installation of the line. The line also provided transportation for the students at the University of Colorado.
The line soon opened a North Boulder loop that served the Colorado Sanitarium (now Boulder Community Hospitals Mapleton Center) and the Newlands neighborhood along Broadway, Maxwell, 5th St. and Evergreen.
In 1914 the line was purchased by the Public Service Company. Boulder’s trolley line closed for good in 1931 when it was replaced by a bus line. Obviously, they opted to pave over the tracks rather than remove them.
Source: Tracking Down Boulder, Colorado’s Railroads by Silvia Pettem, 1996.
Photos: Willie Culkin and the Carnegie Branch Library website.
by neil kearney | Mar 3, 2009 | Uncategorized |
I’m asked all the time what types of homes are selling. Lately, my answer has been “lower priced homes”. More specifically, homes 
under the conforming loan limit for Boulder County. Up until very recently Boulder County’s upper limit for conforming loans has been $417,000. Recently it was increased to $460,000. 
Loans above the conforming limit are called “jumbo loans”. Conforming loans can be sold on the secondary market facilitated by Fannie Mae and Freddie Mac, jumbo loans can’t. In the past there was not that much of a difference between a conforming loans in terms of rate. It was higher but in the same ballpark. Now, since the credit crunch, jumbo loans are much more expensive. This premium in rate is slowing sales in the price ranges where buyers do not qualify for a conforming loan without a huge down payment.
Here is why this increase will make a difference. The increase in the loan limit will help sell a few more homes in the $500,000 to $600,000 range. It makes those homes more affordable to many more buyers who without a larger down payment could not make the numbers work. It won’t make a big impact for us but everything helps.
by neil kearney | Feb 27, 2009 | Boulder County Housing Trends, Statistics, Uncategorized |
In the latest home price index from the Federal Housing Finance Agency (FHFA), Boulder County was listed in the top 20 of the 292 largest metro areas for annual appreciation for the period ended December 21, 2008. Boulder’s annual appreciation was listed as 2.99% while the U.S. as a whole had a depreciation of 8.27%. Colorado was ranked 17th with a annual depreciation of 2.61%. Prices fell in 44 states plus Washington D.C..
The graph below shows Boulder’s appreciation compared to the U.S.’s over the past 11 quarters. It is interesting to see the negative trend of the nation as a whole compared to our relatively steady rate. It is important to know that the national trend is not true in Boulder Colorado.
The top 20 areas for appreciation are mostly in the Southeastern U.S. including; Alabama, Texas and South Carolina. The top metro area for appreciation over the past year was Decatur, AL with a 6.58% increase.
The bottom 20 areas for appreciation continue to be exclusively in California, Florida and Nevada. The town that has been hardest hit over the past year was Merced, CA at -49.50%.
Delving a bit deeper I looked at the 5 year returns. Remember that the Boulder area did not have a big run-up in home prices during the early 2000’s like many areas that are now falling did. Over the past 5 years Boulder has gained 16%. This ranks us 192nd out of 292 MSA’s. Areas like Merced had a run up but are now down 33% over 5 years. The most appreciation over the past 5 years was in Wanatchee, WA at 75%.
by neil kearney | Feb 26, 2009 | Uncategorized
Last week I had the privilege to attend The Producer’s at Boulder’s Dinner Theater. The show was fantastic and the cast was 
outstanding. I have seen traveling productions of this show and this one was more memorable.
The Dinner Theater opened in 1977 and has been staging quality productions ever since. The consistent quality comes from the experienced and talented actors. Many of the cast members have been a part of the theater for over 15 years and it is apparent that they still love to perform. The ticket to the show includes dinner (I had a really good tilapia) which is served by the cast members.
The theater is really an asset to the community and I would encourage you to attend a show the first time you get a chance. Don’t wait too long, The Producer’s is in its last weeks. You will not be disappointed.
by neil kearney | Feb 16, 2009 | Boulder County Housing Trends, Statistics, Uncategorized
I am starting to see more signs of activity in the market. More homes have gone under contract and the number of showings continue to climb. As I study the daily market updates I get at my desk, I notice that most of the activity is in the lower price ranges.
Just this weekend 17 homes went under contract in Boulder County. Fifteen of these homes are priced $335,000 or under. Of the two higher priced sales one is listed for $499,000 and the other is listed for $3,379,000. The later is a rarity. Currently there are 74 homes listed in Boulder County for $2.5 million or higher. Of those 5 are under contract. I have been showing a few of these homes and there are some beautiful homes out there.
I have established that the lower end of the price spectrum is getting most of the activity; but what of prices? I just ran a quick analysis that shows that prices are holding pretty well. I compared the median and average price of homes that are currently under contract to those of homes that have sold over the past twelve months. In order to compare apples-to-apples I adjusted the under contract price by the average negotiation rate for that area over the past year. Here is what I came up with for price change.
- Boulder – Avg. Price – up 3.3% Median Price – up .24%
- Louisville – Avg. Price – up 5.3% Median Price – up .37%
- Lafayette – Avg. Price – down 1.94% Median Price -down 13.9%
- Longmont – Avg. Price – down 5.02% Median Price – up .56%
- Superior – Avg. Price – down .97% Median Price – up 5.9%
- Plains – Avg. Price – up 25.67% Median Price – up 11.88%
- Mountains Avg. Price – down 2.3% Median Price – up 15.11%
These numbers are based on what has actually been selling. In order to get an offer homes must be in good condition and priced about right. Those that are in poor condition or are overpriced do not have much of a shot in today’s market conditions. Call me for an honest assessment of your homes current value. Neil 303-818-4055
by neil kearney | Feb 10, 2009 | Uncategorized
Boulder is celebrating its sesquicentennial this year and today citizens were invited to kick off the extended celebration by ringing a bell 150 times at noon. This was just the first in a series of events to mark the first 150 years of Boulder.
To learn more about the history of Boulder I would recommend the Boulder History Museum and the Carnegie Library.
Here is a timeline and some old photos offered on the Boulder History Museum website.
The best resource for the events surrounding the sesquicentennial is located at http://www.boulder150.com
The Daily Camera has also done a nice job this week in documenting the celebration and the history of our fine city.
Here is a good interactive timeline which gives a good event history with photos. I like the flipbook option.
Here is a video showing the ringing of the bell at the Methodist Church at 15th and Spruce. The Methodist Church was established in 1859, the year Boulder was founded.
Next Tuesday, February 17th you might want to attend the first of six lectures about Boulder entitled Native Americans: the Boulder before Boulder. The lecture will begin at 7 PM at Boulder’s Main Branch Library Canyon Theater and is presented by the Boulder History Museum and the Boulder Public Library.
As a Boulder native I am always interested in the changes that Boulder has seen over the years. I love to hear the stories of what Boulder was like when my dad came to town in the 1950’s to attend CU. Boulder was a much different place than it is now. One story I especially like is the recollection of horse stables at Chautauqua and riding the horses down Baseline Road to the end of town. The eastern end of town at that time was Broadway, from there it was dirt roads to Kansas.
