My First Blog Post
Wow, it’s like going back in time and there I am. This is the very first blog post I ever published. Pretty neat. I think my writing style has come a long way since that day back in February (11th) 2012.
My First Blog was originally titled, “One In Two Homes Under Contract In Lafayette Market Segment.”
I know the world has changed. The Great Recession (which I allude to in this post) is long gone but now half the population dons facemasks before venturing outdoors (Covid-19). We have had one extreme after another in the presidency. The only commonality: each side equally hates the other sides’ president.
Worse still, I didn’t do any of the things suggested in The Writing Cooperative for use in the 1st blog post. Yikes. How did I ever succeed?
And of course, since writing my first blog post the Boulder housing market has absolutely exploded. [original and updated]
Don’t You Wish You Had Purchased Two Houses In 2012!?!
So everyone knows, the real estate market is down and now is not such a good time to try and sell house. Just don’t tell this to anyone living in Boulder, Gunbarrel, Louisville or Lafayette with a house priced between $308,000 and $470,000.
Entry Level Homes Sell Like Hotcakes
That segment of the market is HOT. One in two homes in Lafayette in that price range is Under Contract/Sale Pending. According to the National Association of Realtors, whenever an Absorption Rate is under 5 months, it is a Seller’s Market.
Should all of these transactions close, it will indeed be a seller’s market. Looking back – this was the understatement of the year. In my first blog post ever, I forecast the Sellers Market that lit up the Boulder Real Estate News cycle for nearly a decade!
Or How I Forecast The National Sellers Market And Didn’t Even Know It
Now, I know you are thinking, something must be wrong here, there’s a catch. After all, the national news media, the internet, everyone out there can tell you real estate is a very bad thing. The rest of the country was still dealing with the fallout of the Great Recession as I jotted my first blog post about the impending Boulder home sellers market. Ha – I was the leader in the news cycle and had no clue. LOL.
But that is not the case anymore in this region. Um, yeah Bozo Bob – you could say that again! The market took off even as I was jotting this blog and most everyone today wishes they had purchased two houses in 2012!
First, real estate varies dramatically by region. Take foreclosures. Did you know that fifty percent of foreclosures in the United States are focused in just five (5) states?! Florida, California, Arizona, Nevada and New Jersey.
Covid-19 Impacting 4 of the 5 Foreclosure States
I don’t think it means a thing. But it is interesting that 4 out of the 5 above states is once more in the news. Consider:
- Florida – seniors, increasing cases of Covid-19.
- California – early to close and stay closed.
- New Jersey – part of the worst trifecta on the East Coast
- Nevada – the Las Vegas Strip is completely shuttered
I do feel very sorry for the families that are going through yet another economic meltdown.
Getting Back To 2012 Boulder Foreclosures
Yet, if you look at real estate, you’ll see there are actually a number of very positive indicators. For starters, FHA tracks how good of a moment it is to buy a home from year to year. This information is published by The National Association of Realtors in an annual Home Buyers and Seller’s Guide.
The new data is out and 2011 was the best year to buy a house in terms of affordability and opportunity. Again, I called it early right here in my first blog post. Oh, if only I were listening to myself back then! LOL
I started out by talking about four areas of Boulder, but only mentioned one community. Let’s look at the others. Boulder: 35 out of 89 houses between $308,000 and $470,000 are under contract. Louisville, the darling of America (ranked the best place to live in 2011) has about one in three homes under contract between $308,000 and $469,900. This market is hot!
And then around 2016 we had a summer month where every listing went under contract. Wow, it’s been a heckuva Sellers Market in Boulder!
If You Enjoyed My First Blog Post Predicting Sellers Market
I am Bob Gordon, Realtor with Berkshire Hathaway HomeServices and this is my blog. Thanks for visiting. Ready to return to the present? I’m blogging away about golf, the big virus and the best places to live in Lafayette!
Thank you for visiting and keep coming back!