Summertime and the livin’s easy
Feels like summer, with sunny days and the 4th of July in sight. And the local Boulder County condo homes for sale market continues to boom along the Front Range. And the US National housing statistics reflect this same incredible confidence in housing. As a Realtor, I’m intrigued. It was only a few years ago that the media, internet and powers-that-be seemed to be bashing my industry. Funny how we have jumped from hated and blamed for the financial recession to praised and complimented for the current economic boom.
Overheard: The Boulder County condo homes for sale market is great!
I also hear a lot of folks at festivals, parties and on my occasional dentist visit saying, “oh, you must love this market for Boulder County condo homes for sale.” To be fair, I don’t love the dentist – but I have to go. And I don’t love this housing market, but hey, it is what it is.
Now, why in the world would I tell anyone I’m not the biggest fan of the hottest sellers market to come along in my time as a Realtor? Well the very simple and short answer is there are way more buyers than homes available for sale. This lack of inventory leads to a lot of broken hearts and disappointment. That’s it, you can jump on a bike and enjoy the day or read on and I’ll share some great information to back up what I’m saying (much of it shared with me by much smarter people).
When there are 14 offers on one house
Last weekend I showed Sarah and Tony (not their actual names) a nice house. In a regular marketplace, we would have talked discount because of the evident smoke damage; needs paint and carpet. But, we are not normal times. This is the wonderful Boulder County condo homes for sale / sold seller’s marketplace that everyone loves. So, we of course made an offer. For better than full price. And waived some of the contingencies that are common on a contract, like the inspection. And promptly ran into competition with thirteen (13) other offers.
There’s just one house, so trust me, there are a lot of disappointed home buyers out there that didn’t win the bidding process. Curious what it takes to win a bidding process like this? You might be surprised to learn, it is frequently not the highest offer that wins in these bidding wars. But that’s another story or give me a call at 303-443-3334 to discuss.
The world is ending
Then there are the doom and gloom folks out there. There are fears of a bubble. The United States housing market is oversold. The Boulder County condo homes for sale marketplace is going to crash. The end is coming. Buy gold, cash out, get ready for the next recession. Quite the contrary to this negative Nellie talk, I personally believe we are in a good housing market and the tight inventory is likely to continue.
Warren Buffett, the big guy who founded Boulder Berkshire Hathaway HomeServces’ network says, “There is no housing bubble.” Read the full story. I think I’m in the majority, because fewer people are putting their homes up for sale. Yeah, that’s right, year over year, there are less houses, not more, for sale. If things were so unsustainable, wouldn’t this be a great time to sell, at the top and then buy back in at the bottom?
The statistics tell a promising story
Let’s talk jobs and employment. Walk into any retail business, and you’ll see a Help Wanted sign these days. A big reason for this is nationally we are seeing some of the best job creation in years.
Here in Boulder, we are seeing major technology companies moving into the area. Both Twitter and Google are in the process of growing their footprint in town. Regionally, I expect the oil business will pick up as the price of oil increases, because local bans were struck down in State court. What this means for Boulder is, more jobs, more in-commuters, more upward pressure on Boulder County condo homes for sale values. That’s the national scene. How about Colorado? We are just edged out of the Top 10. Feels like we are more popular with radio DJ’s asking people to not move here and talk of our community becoming unaffordable for the entry level job workforce.
Boulder Real Estate News continues this blog with part II – read on here.