Boulder County Updates: Flood Clean Up and Asbestos removal

1.      The Environmental Protection Agency has waived the need to have asbestos testing done before debris is removed from damaged property.  This is hugely important and will allow the cleanup to go much faster and at much less cost.   I will send out an extensive FEMA Q & A sheet a bit later – it is of great help as well.

2.       BARHA member Appraiser Bill Kamin has passed along this info:  I have had numerous calls from people wanting to order an appraisal of their property in order to establish damages for tax purposes. In most cases, this is not necessary. In most cases, the actual cost of cleanup and repairs is the measure of loss.

3.       Longmont has opened a separate website for flood related info at www.LongmontOEM.com

4.       Please DO NOT put mud or silt into the Western Dumpsters – only debris.amage around Boulder County uneven. Some areas had no significant problems, others were pretty much devastated. Surely one of the worst aspects of the flood is the mix of sewage and storm water.
Important information just came out re asbestos mediation.

Home Price Appreciation in Boulder County

Home Sales in Boulder County

Home prices have been on the rise throughout Boulder County. Prices are up in all Boulder County cities and Days on Market have declined as well. These figures are through the end of May, 2013 compared to the same time period in 2012.

Buyers and Bidding Wars

Wall Street Journal article, stunned home buyers find bidding wars are back, is definitely what we're seeing in Boulder, Colorado and throughout Boulder County. 

Decluttering for the New Year

Practicing what I preach: Clear away the clutter…make space. Like many of you, I'm in the midst of decluttering; drawers, closets, cupboards, garage, my mind. It’s not as easy as it looks and is not for the feint of heart! Do you have any tips to share? If you need some good suggestions, check this out http://tinyurl.com/ax62ww and resolve to clear away the clutter and make space for your life. 

Canyon Center Condos in Boulder, Colorado

If you're looking for the quintessential Boulder, Colorado lifestyle, close to the Pearl Street Mall with its cafes, restaurants, bars and boutiques so well known and frequented by Boulder residents and out of towners as well, then look no further than the Canyon Center Condos in Boulder, CO. This is a complex of approximately 45 condos between Canyon and Walnut, 1 block west of 9th Street. These condos were built in the mid 1980's and have been well maintained by a strong HOA. The best location are those on the exterior, facing Canyon but set back from  the street and buffered by lawn and trees. They also have great southern exposure and views of the Boulder Creek path park and trees. Prices range between $320,000 and $850,000 for the penthouse, largest model. These condos are a great value when compared with the newer million dollar+ condos at One Boulder Plaza, built in 2002.
If you're interested, keep reading for more details. Also, please check out my listing in the complex: 824 Walnut A. Or visit my website to contact me.

There have been 13 sales in the complex of approximately 45 condos in the last 2 years. I went back to January 1, 2010. The prices range between $320,00 on the low end to $850,000 as the most expensive penthouse unit on the top floor with 1691 square feet, 2 bed and 2 bath and includes a garage. The units in the center of the complex and the smaller models are at the lower end of the price range.
I have selected these 6 sales as being the most relevant comps. There are 2 that have exactly the same square footage as 824 A, which is 959'. This model is a one bedroom + 1 non-conforming bedroom that can be used as an office or guest room (or converted to a 2nd bed).
in 2010:
854 Walnut B (2nd floor) sold for $370,000 in Oct. 2010 after 7 days on the market.
856 Walnut A (main level) sold for $390,000 in Nov. 2010 after 24 days on t he market.
812 Walnut D (4th floor) sold for $462.00 in Nov. 2010, is slightly larger (49 sq ft) and has an extra bath.
854 Walnut D (4th floor) sold for 462,500 and also is larger with 2 beds, 2 baths.

2011 was a slower year due to lack of inventory. There were 3 sales, between $348,000 for a smaller 1 bed. in the center (no guest room) to 854E on the top level with 1360 sq ft and 3 beds, 3 baths which sold for $527.000. The best comp is 790 Walnut D, which was 49 sq ft larger and is listed as 3 bedrooms, 1 bath.

Boulder County Real Estate 2012

In my last post we looked at the rate of annual sales for Boulder County going back to 2005.
2012 reveals the following:
     Boulder Residential Sales (from the previous year's quarter):

•  first Quarter  +13% 
• 2nd Quarter   +5% 

A strengthening housing market is on the way!

Is It Time To Buy?

If you're sitting on the fence about the direction of the housing market, consider this from John Girouard writing in Forbes last week:

"Trying to time the housing bottom is as much folly as trying to time stocks or any other investment vehicle. In fact, it’s greater folly because if housing prices do fall further, it’s likely to be because mortgage rates are rising, which would mean that over the long term that slightly lower price you may have paid could end up costing more in carrying costs than you saved.”

Green Light for Boulder Real Estate

Just about everybody I talk to lately has a house to sell or would like to buy but they’re waiting for a green light, you know the one, that means real estate prices are going up from here, we’ve hit bottom and they can be guaranteed appreciation. Just like the good ol’ days! These are the things I know for sure:
• Real estate is always a good long term investment (think 10-15 year time frame).
• Boulder County real estate is about as stable an investment as you’ll find anywhere.
• Owning a home is about much more than a financial investment. It’s about the safety and security of having your own home, a place to create memories and raise a family.
• Home affordability rose to its highest level in a decade during the last quarter of 2010. All of which makes this a great time to move forward with your dreams!

Boulder, Colorado Invesment Property Regulations

If you own rental properties in the city of Boulder, you’ll want to know about the new ‘Smart Regs’ requirements for investment homes. In order to rent property in the city, you already need to have an inspection that shows it meets code and safety standards. With the adoption of Smart Regs, an investment property will also need to demonstrate energy efficiencies and pass an energy audit.For more details on these regulations, please check out the city of Boulder’s website, click on rentals and smart regs.