Building Updates For Home Buying Boulderites
A casual look about the area suggests building is on the rebound. This is a key indicator our economy is on the rebound.
New housing construction is desperately needed with pent up demand since the Great Recession started in 2007. However, a closer look reveals much of the new construction is actually high-end apartment rentals. This is a double edged sword.
What developers know is many folks are ready to move, but will find themselves unable to qualify based on today’s stringent qualifications for a mortgage. There are pricey apartments being built in Rock Creek, Boulder, Louisville, Lafayette and Broomfield, including at the Arista community.
How will these apartments impact your real estate needs? Home buying Boulderites rejoice: inventory is slightly up for June 2013.
Mortgage Interest Rates
An ongoing concern from Realtors and consumers is what will happen with interest rates. Two weeks ago Fed Chairman Bernanke’s remarks spooked the market. Friday July 12th, he made a new pronouncement that the mortgage buyback will not start too soon.
As a result – the stock market closed at an all time high. But the damage is already done – interest rates jumped dramatically last week. Bottom line: if you are looking to buy a Boulder home, act quickly while interest rates are low before they go higher. When the buy back program comes to an end, interest rates are assuredly going to go up, so home buying Boulderites should act now.
USA Pro Cycling Challenge 2013
For the third consecutive year, the toughest cycling event in the United States will be held in Colorado. This year’s race runs from August 19th to the exciting conclusion in Denver on August 25th, 2013. Will you see the race in person? Where is the best vantage point for the USA Pro Cycling Challenge?
Hotels Colorado
The University of Colorado quietly tore down the University Inn last month. The structure was deemed to require too much rehab and had outlived its usefulness. CU Boulder officials have not yet announced what new structure will be erected on the site. The building had fulfilled many roles, including overflow dormitory – did you ever live there?