Many U.S. markets that avoided the housing boom are now seeing the greatest growth in home values
"They're easy to overlook, with home prices plunging from Manhattan to Los Angeles and almost everywhere in between. But look at the smaller metros where housing bubbles never took shape, and you'll find some of today's strongest markets.
Boulder, Colo.; Fayetteville, N.C.; Pittsburgh; Little Rock; and other slow-but-steady metros are now among the nation's safest markets, and many of the homes in those markets continue to appreciate, if only modestly.
These are metro areas "where folks didn't bake 10% to 12% increases into their financial expectations," said Stan Humphries, chief economist at real estate site Zillow.com. "That was a good expectation to have."
Working with data from Zillow.com, BusinessWeek came up with the strongest housing markets by ranking metro areas based on the share of single-family homes in which values rose in the second quarter compared with the second quarter of 2008. In the top-ranked metro, Boulder, an affluent Denver suburb that is home of the University of Colorado at Boulder, 59.39% of homes appreciated during the past year, and the median home value rose 2.12% on a year-over-year basis.
No. 1: Beautiful Boulder Boulder was one of several college towns on the list, which also included a few military towns such as Fayetteville, N.C., and Jacksonville, N.C. Both government and university jobs have been relatively reliable during this recession. Affordability also seems to be a plus in this economy. Oklahoma City; Tulsa; Binghamton, N.Y.; Springfield, Ohio; Cumberland, Md.; and most other metros on the list have median home prices below $200,000 (some are under $100,000).
Boulder has several factors working in its favor. The town has controlled growth by putting limits on development and by acquiring more than 50,000 acres of open space for a greenbelt that surrounds the town. With the boundary of the Rocky Mountains to the west, the supply of new homes has been restricted.
Boulder's economy and housing market have slowed, but the University of Colorado provides jobs and a steady flow of tenants for the area's many rental homes. Demand for housing is also strong in part because the area is so pretty, said Tom Thibodeau, global real estate capital markets professor at the University of Colorado.
"Every year 5,000 undergraduates enter, and they don't want to leave when they graduate," Thibodeau said.
By Prashant Gopal"
Wait a second. At a time when real estate prices have been in almost perpetual free fall for more than a year, are there really places around the U.S. where home values are going up? Unbelievable as it may sound, yes. According to real estate site Zillow.com's second-quarter home value index, there are more than 30 metro areas across the country where values have risen from the first quarter of the year to the second quarter. The winner? Boulder, Colo., the affluent Denver suburb where the share of homes with increasing values rose nearly 60%.
Methodology: The metros are ranked by the share of homes with rising values in the second quarter compared with the second quarter of 2008. The annual change is the year-over-year change in median values for the metro in Q2 compared with the same period last year. The quarterly change compares the second quarter with the first quarter. The ranking is based on Zillow.com's Q2 Home Value Index, which is the median "Zestimate" for a given geography for a given time period. The Zestimate is Zillow's estimated market value of a home. This figure is computed by taking many different data points from public records and entering them in a proprietary formula.
Rank: 1
Metro: Boulder (Colo.) Share of homes with increasing values: 59.39% Median value: $347,200 Annual change: 2.12% Quarterly change: 3.86%
Boulder, about 35 miles northwest of Denver, has had a relatively stable housing market, in part, because it is home to strong employers, including the University of Colorado, as well as a base of affluent residents. The supply of homes is limited in Boulder by the mountains to the west and its tens of thousands of acres of protected open space.
As you can see the Superior CO. market has improved significantly. Sales when up, inventory went down, average DOM is relatively the same. Average sales price has jumped quite a bit.
If you or someone you know will be moving to Superior CO. in the near future, click here, or give me a call at (303) 829-7214.
*Statistics provided by Land Title Guarantee Company.
On this very day in history, November 6th, 1860. Abraham Lincoln, our 16th President of the United States of America was elected.
Today, November 6th, 2009 -- Our President Barack Obama, signed a bill that will have a dramatic effect on the real estate market, as well as the U.S. economy. One of many substantial acts he has made since becoming the first African American President of the United States of America.
To me this is, at the very least, incredibly inspiring.
There is nothing that we as human beings cannot overcome, let that never be overlooked.
Well, it is now officially in effect! President Obama just signed the extension/expansion of the $8,000 credit for first time home buyers, and now for move up buyers as well. Below you will find a chart with the old bill contrasted by the new bill, so that you may see the changes that are now in effect.
*Chart was provided by National Association of Realtors.
Click the link below to search homes in Cherry Hills Village Colorado, or to register to receive updates such as new listings to the market that meet your requirements!
The Senate has voted last night (11/4) to extend and expand a popular tax credit for homebuyers that was scheduled to expire Nov. 30. The House is expected to schedule a quick vote on the bill as early as today 11/5 as part of a package that also extends unemployment benefits for people out of work more than a year. The White House indicated that the President will sign the legislation.
How the homebuyer tax credit would work:
·Tax credit: Ten percent of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyerswho purchase between December 1, 2009 and May 1, 2010. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000.
·Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30.
·Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010.
·Income limits: Individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit.Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.
·How to apply: Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.
·New anti-fraud limitations imposed.
·Cost: $10.8 billion.
Source: Bloomberg Press and Associated Press and confirmed information with the content of the Senate bill
Click the link below to search homes in Boulder Colorado, or to register to receive updates such as new listings to the market that meet your requirements!
Brendan Winans Receives New Certified Negotiation Expert Designation
Real estate negotiation skills are a must for all home buyers/sellers,
especially in the current market.
Brendan Winans has been awarded the Certified Negotiation Expert (CNE) designation, achieved by real estate professionals who have successfully completed formal training in the art of negotiation. Agents who receive this certification are in the top 1% of all agents nationally.
With Professional negotiation skills, agents will typically obtain better results for their clients. CNE agents have a powerful competitive edge because of their ability to uncover information effectively, get more and give less during sales/purchase negotiations, and retain control over desired outcomes. Bottom line, CNE agents know how to influence and persuade others more effectively than agents without professional negotiation training.
The certification training is provided by Negotiation Expertise, LLC, a national negotiation training and coaching company based in Peoria, AZ. Tom Hayman, the President and owner, is a professional negotiator with 35+ year's experience, including 25 years with Procter and Gamble, a Fortune 50 company. Hayman asserts "Any Buyer or Seller who hires a CNE agent can feel confident that they have the best trained agent in the business. They will get superior results and have better resolution of any issues when hiring a CNE agent."
As your Boulder County specialist, Brendan Winans will assist you in finding the ideal property, or in selling your current. You can be assured that Brendan Winans will negotiate, on your behalf, the best price and terms for the purchase or sale of your Boulder County property.
... But now I'm found, and with more exposure than ever!
I'm going to keep this one short and tweet.... I mean sweet...
It's not like I wasn't a believer before, it's just that I never took the time to try it out and I really just didn't see the "how" in Twitter's success. It wasn't until I read one of Steve Schwartz's many blogs on the advantages (and how to's) of using Twitter, that I decided to give it a try.
It was fun at first, but I didn't know if it was "working" just yet. I wanted to find a way to SEE it work.
So I thought, "how do I track how it works?". I decided to post a tweet on one of my blogs, with a link to it. I'd track the hits via Active Rain. I kid you not, every time I post a link to one of my blogs, the hits go up by about 10-20 almost instantaneously! AND, no matter how many times I do this throughout the day, the results stay relatively consistent! This got me excited, and this is just ONE example of ONE avenue of the benefits to using Twitter.
Needless to say, I'm no expert just yet, but I'm definitely an 'on fire' believer! I'm so excited to start my Twitter journey!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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