Thank You For Visiting Boulder Real Estate News !
Thank you for tuning in; this is my weekly blog on sold Boulder homes. Each Saturday, I post the latest low and high sold Boulder homes data. I figure this is a great way to learn a little about our market place – by seeing what truly sells in Boulder, how quickly and at what discount.
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State And National Real Estate News
Quietly expiring in December 2013 was an important rule regarding short sales. During the recession, this rule allowed owners to sell in a short sale without owing taxes on the unpaid debt. With the expiration of this important law, I think we will see fewer home owners going the short sale/foreclosure route. Already, state data indicates lender mediated properties only represented 9% of all sales in the 4th Quarter of 2013. Locally, there the percentage of sold Boulder homes in the foreclosure/short sale category was even less.
What this means for you home buyers out there? There will be fewer short sales and foreclosures on the market in 2014. State statistics show overall inventory remains historically low. It also shows that while things slowed in the 4th quarter, this was in line with previous years. Generally – the holidays are slow time for Boulder real estate. The attached chart (courtesy of Colorado Realtor Magazine) has more details on the statewide market [see below].
What Sold This Week In Boulder
Talk about getting good deals in the winter. The new owners of 3125 Folsom St Boulder, 80304 should be excited. They closed this week for $20,000 less than list at $349,500. And the sellers threw in some of the closing costs. The house is currently rented at $2,000 a month — a cash flowing property with twenty percent down.
This Week’s Highest Priced Sold Boulder Homes
3660 19th St Boulder, 80304 closed for just under $1.3 Million. Featuring five bedrooms and five bathrooms and my favorite feature – an outdoor room. What I mean by that – you really have to see the photos – link here – is the room was missing one wall. Otherwise, walls, floor, ceiling. With lighting and a ceiling fan, looked like a great place to have dinner “out!”
Home Building Making Epic Comeback
It is good for the economy. Housing is a big sector and provides a large number of jobs. And it is good for Boulder real estate. Pent up demand for new construction is helping to push this segment higher. According the Boulder Daily Camera, this year will be the highest number of home building starts in seven years. In turn, this is going to mean more sold Boulder homes! As new households form following the end of the recession, demand for new housing will increase.
A Word Of Warning
Are you selling your home currently? Or in a purchase of property? American Title company in the Boulder/Denver metro area is going through a serious shake up as reported in the Denver Post. So far, there is more rumor than fact. However, if you are in a real estate transaction, double check with your agent regarding this title company or send me an email for more details.