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Colorado Real Estate
Market: Is Boulder In the Same Boat as the Rest of the State?
While many areas of Colorado are suffering
from greedy lenders, over building and the overall real estate
market slowdown as the rest of the nation, certain areas are
either not affected at all or are only marginally affected.
Unlike many areas in Colorado, some quite close, geographically
speaking, Boulder's real estate market continues to make gains,
albeit slowly. While the market is not what it once was, slow
growth is better than stagnation or reversal as the rest of
the country is experiencing.
While areas of Colorado are dealing with the results of lender
greed and imprudent building practices, Boulder enjoys a housing
market with only a small surplus of homes to buyers. This
benefits buyers particularly well, in that they have more
housing options to choose from at excellent prices. While
the prices in Boulder aren't as low as other areas of the
state, the market is still appreciating. This means that while
you will pay a little more for a home in Boulder, you stand
to make much better gains on the property, over time. If you
purchase a home in one of the surrounding cities, you'll get
a better deal, but the property may quickly depreciate, leaving
you upside down in a mortgage you can no longer afford.
Choosing to live in Boulder makes much more sense. Slow steady
growth in the housing market provides benefits to residents
that last for the long term. Boulder's housing industry shows
no sign of a reversal, promising increased value for real
estate in the area. While other cities in the state experience
poor real estate performance, Boulder consistently yields
higher gains for real estate investors and homeowners.
Boulder's continued growth is due to a number of factors,
but the dominant factor is the city's appeal to young, family
oriented people. The majority of homes in Boulder are owned
by married couples and most of those have children. A much
smaller slice of the real estate pie is given over to single
people and vacation homes. This appeals to many people and
Boulder has become a destination for young couples looking
for a great place to raise a family. Most of the homes in
Boulder are still selling for $400,000 or more, bolstering
a still active real estate economy.
Living in Boulder is an excellent choice and a wise investment.
With the city's proven performance, prices are expected to
continue to rise slowly. While this may deter some investors
who are only interested in short term profits, it speaks volumes
for the city's long term profitability. This means long term
gains for people patient enough for a real estate investment
to mature, people that are willing to take a few years and
live in the homes they purchase. The market does not lend
itself to flipping homes, or broad real estate investment,
so much as it does for individuals interested in building
wealth through ownership of single family homes.
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