January 2009

Found 9 blog entries for January 2009.

We are seeing some very interesting activity.  Our Boulder office has shown a dramatic increase in showing activity over the last two weeks and CMA (Colorado Mortgage Alliance) our lending partner has seen a strong uptick in the number of pre-qualification applications being taken.  Our newest listing on Landis is being overreun with showings and it looks like the property will most likely see multiple offers.  When you combine this with over 300 registered users to Boulderhomesource.com in the last 30 days we are seeing strong interest in the Boulder Market.  I know we still have some interresting times ahead and will not know the true direction of the market until all of the stimulus packages, layoffs, market voltility have had a chance to work thier

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Sun laid off 1,300 workers from it's storage unit. Initial conversations with Sun employees at the Broomfield campus are indicating the layoffs were far fewer than many had feared. Over the next few days we will hear what the full extent is and we will be sure to keep you up to date.

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From Land Title: 

 

Predicting an '09 recovery: In December, Jim Glassman, a senior economist with JP Morgan Chase in New York, told a select crowd of business leaders gathered in Denver at the Executive Leadership Forum that the economy will recover in 2009. "There’s nothing wrong with the U.S. economy that hasn’t already been fixed," Glassman said. https://www.cobizmag.com/articles.asp?id=2476

 

Census: Colorado among fastest growing states: Colorado was among the five fastest-growing states the year between July 1, 2007, and this July. Estimates release on December 22nd by the U.S. Census Bureau show Colorado, Texas and North Carolina each grew at 2 percent. Colorado's population increased by 96,686, giving it the eighth-largest gain in the…
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In light of current news, many people believe the changes in the real estate market are not favorable.  However, there are several positive points to remember.  If the opportunity presents itself during the year, please do your part to spread the following great news!


Interest rates continue to be at historic lows
Houses are attractively priced and not expected to go lower
Inventory levels are plentiful and in some areas declining
Average homeowners net worth is 46 times the net worth of the average renter
First time homebuyers are coming out of the woodwork, which is a key indication of recovery.


"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful . . . if you wait for the robins, spring will be

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Check out the US NEWS report on Boulder.

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"Boulder is rare in staffing its own senior services solely from local resources. City employees not only run senior programs at two recreation centers, they take on individual cases, helping the sick navigate insurers, the infirm get transportation, and the lonely find friends. "The senior services are something you just don't see elsewhere," says Hope Thompson, 82. She should know, having lived for years in Florida."

https://www.youtube.com/watch?v=ag23I0aOoE4

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We have seen a strong reduction in our inventory numbers.

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Price per a square foot still seems to be holding strong.

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Boulder's Market action index still is trending about 2 points better than the Nation as a whole.  We have indicators for all areas of the market so please let us know if you have questions on specific market segments.

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January/2009

The 2008 real estate market followed a similar pattern to the past few years with sales activity across the area experiencing a continuing decline.  In 2005, there were 4,725 single-family homes sold in the Boulder Valley area; in 2006 (4,389); in 2007 (4,076); and in 2008 (3,393).  Since 2005, that’s a reduction of nearly 40% in the number of sales.  During this same period of time, the number of new listings has dropped 22.84%.

For real estate markets to sustain themselves in a positive direction they need to churn.  They need to have a consistent influx of buyers and an on-going flow of available inventory.  When that happens, home values remain relatively constant or increase at a reasonable rate.  When the real estate market gets

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Over the holidays our family like many others gathered from all parts of the country to spend some time skiing in Steamboat.  We had a financial planner from California, a bond trader from Boston, a lawyer from Washington D.C. and two Realtors from Boulder, CO.  It was very interesting to hear the different spins on the economy and each person’s view for the year ahead.  As I listened it began to be very clear that each person’s perspective of the year moving forward was based on the year they had just experienced and that we interpret data through the glasses of the past.

 

One of Today’s top articles on Yahoo was "The Top 10 Worst Markets" and their predicted falls for 2009 based on the Standard Poor Case Schilling Home Price Index.  The article leads

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