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admin – Kearney Realty Co.
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Boulder Neighborhood Guide 2018

Boulder Neighborhood Guide 2018

Boulder Neighborhood Guide I realized a few years ago that people coming from out of town were having a hard time characterizing the different neighborhoods within Boulder.  In response I created The Boulder Neighborhood Guide. In this report I have split Boulder into eleven different areas and present the lifestyle highlights, schools, shopping districts, local recreation and basic real estate statistics for each area. If you’re interested in learning more about the different neighborhoods within the City of Boulder this may be helpful. I have just finished updating The Boulder Neighborhood Guide for 2018 and invite you to view or download it.  Here is a PDF copy Boulder Neighborhood Guide 2018 If you are visiting Boulder you may be interested in where to stay, where to eat, things to do and how to get around.  You may also be interested in walking some of Boulder’s neighborhoods.  I have created a few self-directed walking tours in Boulder that may be fun if you are visiting town.  To access all of that information go my “Visiting Boulder...
Luxury Market Update

Luxury Market Update

Boulder County Luxury Report Sales 2017 was a record year for luxury real estate in Boulder County.  During the year a record 490 properties sold for over $1 million.  Eclipsing by 15% last years total of 426.  As you can see by the chart below, the growth of the luxury market segment in this area has more than doubled since the pre-recession high in 2007.  The main factors causing this impressive growth are price appreciation and capital improvement.  Overall, the average home in Boulder County has appreciated approximately 60% over the past five years.  This has naturally brought homes that were not previously considered “luxury” into the $1 million plus range.  We have also seen an overall improvement in the housing stock over the past decade.  Expensive homes have been built on vacant lots and a significant number of homes have been extensively updated and expanded turning “stock” homes into showcase homes.  If you have had any work done recently to your home, you know that contractors are not easy to find and prices for renovations have gone up significantly.  Another factor in the quick rise in prices are the required “green” features and high permit fees which add to the cost of construction. The top priced sale for the year in the MLS was $6,700,000 and the median price for all sales over $1,000,000 was $1,370,000. Analysis of Current Inventory The table below shows the current listings in Boulder County by price range (as of February 24, 2018).  Let’s first talk about the orange column which shows the percentage of homes that are currently under contract.  Not surprisingly...
4602 16th Street, Boulder, CO — $525,000 – SOLD!

4602 16th Street, Boulder, CO — $525,000 – SOLD!

Neil just listed this great townhome style condo in North Boulder.  This unit has so many great features! It’s a three-story end unit that is filled with light, tons of windows. You’ll find high end finishes which include: quartz countertops, real hardwood floors, stainless steel appliances, upgraded cabinets, nice tile backsplashes and flooring, 2 en suite bedrooms upstairs, unfinished basement-great for storage or ready for you to finish, upgraded window coverings, detached garage right out the back door, cute covered front porch. Great North Boulder location. This one really shines, check it out! Finished Sq. Ft. = 976 Total Sq. Ft. 1,464 2 bedrooms 3 bathrooms Detached one car garage Unfinished basement      ...
The Kearney Report – 4th Quarter 2017

The Kearney Report – 4th Quarter 2017

The Kearney Report – 4th Quarter 2017 I have just finished up The Kearney Report for the 4th Quarter 2017.  This report gives an in depth view of the real estate market in Boulder County as well as in the sub-areas of; City of Boulder, City of Longmont and East County (Louisville, Lafayette, Superior, Erie).  To download and view the report click this link The Kearney Report 4th Quarter 2017  I always provide my reports to you free of charge and without the need to sign up for a list.  You can also view it online below. We saw a big drop in sales and activity during the 3rd quarter.  During the 4th quarter the market stabilized.  Sales in Boulder County were roughly equal to where they were during the 4th quarter of 2016. Here are a few highlights for the quarter (mostly compared with 4th quarter 2016): Boulder County: The median price for the quarter was $480,000. This represents a 14% increase from the same quarter last year. It took 5 days longer to sell a home during the 4th quarter. There were 3.5% fewer homes on the market at the end of the year. At the end of the year there were 3.34 months of inventory on the market.  Still a seller’s market. City of Boulder: Sales during the quarter increased by 8.5%. Median price of $686,300 (for both condos and single family homes) up 12.5%. It took 7 days longer on average to get a home in Boulder under contract. Now 29 days. 3.65 months of inventory at the end of the quarter.  Just a bit higher...
Boulder Real Estate Statistics for December 2017

Boulder Real Estate Statistics for December 2017

The Boulder real estate market ended on a strong note in December of 2017.  Sales for the month were up 3.5% compared to December of 2016.  This good activity is also translating into a strong start for 2018. The slideshow below gives a good overview of the market in 8 quick slides. Sales for 2017 in its entirety were down 5.4%; prices were up approximately 6% with much of that appreciation occurring in the first half of the year.   Boulder County Real Estate – December 2017 Statistics from Neil...
4697 Tally Ho Ct., Boulder, CO 80301 — $729,000

4697 Tally Ho Ct., Boulder, CO 80301 — $729,000

4697 Tally Ho Ct. Boulder, CO 80301 – $729,000 For all of the photos and more information on this listing go to www.4697TallyHo.com I’ve just listed this beautifully updated home! Everywhere you turn you will find quality touches & finishes. Some of the outstanding features include: maple cabinetry throughout, four upgraded baths, extensive hardwood floors, beautiful kitchen with granite, stainless appliances & maple cabinetry, high quality windows, etc. Enjoy the wonderful back range views from the master bedroom; great yard with raised beds & a great deck. Wonderful neighborhood with a pool and easy access to Twin Lakes Open Space. 2,329 Square Feet 3 Bedrooms 4 Bathrooms Beautiful Finishes Throughout Neighborhood Pool Five Miles to Downtown Boulder                  ...
Boulder Real Estate Market – 2017 Year in Review

Boulder Real Estate Market – 2017 Year in Review

2017 Year In Review Half-way through 2017 we saw a shift in the Boulder area real estate market.  The first half of the year was a continuation of the very hot market we experienced in 2014-2016 with rapid price appreciation, low inventory and a strong sellers’ market.  During the second half of the year we experienced a softer market characterized by homes staying on the market longer, more price reductions and more balanced negotiations. Here are some of the key statistics in Boulder County from 2017: Total sales were down 5% to 4,680 sales. The median price for all sales in 2017 was $480,000 which is up 6% from 2016. There were 490 sales that exceeded $1 million during the year which is 64 more than a year ago, 124 more than two years ago and 301 more than five years ago. At the end of December there were just 777 residential properties on the market in Boulder County and 331 of these were already under contract. This represents a low mark since I have been keeping track. Over the past 10 years, owning real estate in Boulder County has been a great investment.  Cumulative appreciation since 2007 has exceeded 60% with most of that occurring during the last five years. What’s Been Driving The Market? The United States is 8 ½ years into an expansion. This represents the 3rd longest consecutive expansion period since the Great Depression.[1]Colorado and especially Boulder County have benefitted from the strong economy. Colorado added approximately 60,000 new residents from migration and 56,300 new jobs in 2017. The unemployment rate in Colorado is 2.5%...
In 2017, Boulder Real Estate Negotiation Tipped Toward Buyers

In 2017, Boulder Real Estate Negotiation Tipped Toward Buyers

In 2017 in Boulder County, the average negotiation off of list price for all sales was 1.3%.  In 2016 it was .36%.  However, when you look at it more closely both over time and across price ranges there are some good market insights.  The chart below shows the sales in each of the last four quarters separated into three categories; those that sold for below the list price (blue), those that sold for exactly list price (orange), and those that sold for above list price (grey). As an example, let’s look at the second quarter of 2016 which is the second group from the left.  During that quarter Boulder County was ranked #1 in the nation for appreciation by FHFA.gov.  During the quarter, 30% of the sales went for less than the asking price, 20% went for exactly the list price and 50% of the sales sold for a price in excess of the asking price.  This past quarter 56% sold for less than list price, 23% went for exactly asking price and 21% went for above the list price. The overall take away is that buyers have gained some traction in negotiations.  There are two trend lines that intersect.  The upward trending blue line represents the trend of properties selling below the asking price.  The downward trending grey line shows the trend for homes selling at a premium.  With the information above we can conclude that the overall market is trending away from a strong sellers market.  But in real estate broad generalities are not always accurate.  When we look at individual price ranges we find that the...
The Tax Bill and Its Effect on Real Estate

The Tax Bill and Its Effect on Real Estate

The recently passed federal tax bill will definitely have an impact on real estate.  In general markets with high taxes and high values will be most affected.  Despite the recent increase in local property taxes, Boulder County is considered a low property tax area compared to other parts of the country.  However, we are a high value market.  Here is a summary of the main points of the tax bill that affect real estate. Also, if your selling your property or house, we buy houses at a good price. Mortgage Interest Cap – This is in regards to how much of the interest paid for mortgages can be used as a deduction.  For those whose mortgages balances are less than $750,000 this will not affect anything.  Previously the cap was $1 million and it has now been reduced to $750,000.  Not many people have loans in excess of $750,000, but in our area where the luxury home market is very robust, we may see fewer buyers able to make those purchases. The interest on the first $750,000 is still deductible.  This may dissuade some luxury home purchasers to buy a less expensive home, thereby reducing the demand for the very high end. Local and State Tax Deduction – The Boulder County Treasurer was inundated before the new year with property owners pre-paying their property tax bill in advance.  This was in response to the section of the tax bill which caps the deduction for state and local taxes at $10,000. Previously, homeowners were able to deduct from their federal tax return the amounts paid for state income tax, various ownership...
Boulder County – November Real Estate Statistics

Boulder County – November Real Estate Statistics

Boulder real estate statistics. The numbers are in.  Sales during November 2017 were down 4% when compared to a year ago and are down 6% for the year.  Inventory is just below where we were a year ago.  We have had some good recent activity so I expect that sales in December will be relatively strong. At the end of November 46% of the listings on the market were already under contract. Please see the embedded slideshow for all of the details. All data is taken from IRES MLS.   Boulder County Real Estate Statistics November 2017 from Neil...