Everyone is focusing on the fact that there are foreclosures and cheap housing to be had; all things being relative that doesn’t really relate to Boulder real estate because we have so few foreclosures. Ok yes we have some foreclosures and some short sales. But everyone is looking “over there” and not looking at the impact of what may likely be the biggest housing shortage of all time. The thought right now is with fires, teardowns, lack of new builds and worn out properties, we need at least 1.6 million new homes (in the U.S.) right now to just keep up with the population growth. Housing starts are down. The population is growing. When we have job growth; Lookout!
According to RealtyTrac 315,716 properties had foreclosure filings last month. The filings included default notices, auctions and bank repo’s. Mortgage rates are very low. Mortgages are not difficult to find if you have a solid job and good credit. Investors and savvy buyers are snapping these properties up to add to their portfolios. Smart buyers are buying now. When you think of vineyards you think of micro-climates. Boulder is one such micro-climate in the U.S. real estate market. Boulder is the beacon of value and prices staying at a good and sustainable level. Once the job creation is back in place we will have some double digit years of appreciation coming in the Boulder real estate and the Boulder luxury real estate market.
If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.