Stu Galvis's Blog

The Number Two Neighborhood in Boulder, CO

Stu Galvis (Keller Williams Boulder) — Sat, 03 Dec 2011 08:32:26 -0800

Coming in at a close second is The Newlands/Old North Boulder with a total score of 52 out of a possible 60!

Here's the scoring break-down:

1. Walk Score - 7. Dependant on location within the community, while still being walkably close to downtown and it's amenities, homes here are also very close to the Ideal Shops, the N Boulder Rec Center, & Boulder's fabulous Community Gardens.

2. Proximity to Boulder Mountain Parks - 9.5. Starting at the foot of the Mt. Sanitas trailhead, just N of the mouth of Boulder Canyon, and surrounding the extremely popular N Boulder Park, The Newlands and Old North Boulder abut climbing, hiking and enjoying so many of the amazing outdoor opportunities of Boulder, one might not know where to start.

3. Proximity to Downtown Boulder - 9. Being just N of downtown, it's still just a short distance away for any and all to walk or roll right over to the shopping, dining, arts, music & entertainment for which Downtown Boulder is so famous.

4. Community Aesthetics - 8.5. While the Newlands is full of gorgeous (and a few not-so-appealing) complete remodels, many of them are build to the lot lines, leaving very little yard or green-space to buffer the differing styles. Old North Boulder is still full of those "Built-Ford-Tough" 50's & 60's brick ranches with more classic craftsman remodels, and the owners on this side of Broadway like their yard space (and so do I). To add to it all, the charming retro-50's Ideal shops and N Boulder Park create some beauty amidst the equally charming hodge-podge of these very-different-yet-similar neighborhoods.

5. Percentage of rentals vs. owner-occupied - 7.5. With very high property values still, and the highest desirability of any neighborhood in town, there's just not a lot of room for rental investors while still this close the heart of our fair city.

6. Affordability - 7. While property values in the Newlands have far exceeded the reach of most buyers, thanks to the gigantic, top-end renovations, Old North Boulder still offers more buyers opportunities to purchase a good older home with solid bones in the #2 neighborhood in town. I'd give the Newlands a 6, and Old N Boulder an 8, therefore the average is 7.

For more information or for comments, questions or other general feedback, call or email me, and we'll chat.

The Number One Neighborhood in Boulder, CO

Stu Galvis (Keller Williams Boulder) — Thu, 07 Jul 2011 15:13:49 -0700

After much ado, deliberation, and voting, we have finally picked a winner.

... And the winner is ...

With a total score of 52 out of a possible 60: Downtown Boulder / Mapleton Hill.

Here's how the scoring broke down:

1. Walk Score - 8. Dependant on location within the downtown Boulder/Mapleton Hill neighborhoods, most homes ranged between the Mid 70's and the mid 90's, with the average in the mid 80s. Hence, 8 out of 10.

2. Proximity to Boulder Mountain Parks - 9. At around 1mi. to the Sanitas trailhead, 1.25mi. to the mouth of Boulder Canyon, and 2 miles to the Chautauqua Trailhead, Downtown Boulder is the gateway to the mountains.

3. Proximity to Downtown Boulder - 10. Well, it IS downtown Boulder, just feet away from all of that shopping, dining, arts, music & entertainment for which Downtown Boulder is so famous.

4. Community Aesthetics - 10. With all eyes on the heart of this beautiful city, the residents and business people of Downtown Boulder take a lot of pride in the historic heart of the city. Modern architecture, urban design, and gorgeous historic homes are the epitomy of a beautiful neighborhood, with aboundant parks and outdoor spaces dotting the area.

5. Percentage of rentals vs. owner-occupied - 9. Thanks to high property values and the highest desirability of any neighborhood in town, there's just not a lot of room for rental investors in the heart of our fair city.

6. Affordability - 6. Though downtown has the lowest affordability, it also boasts the most amenities, therefore the bang for the buck is relatively higher than one of those exclusive, gated-type neighborhoods with giant homes that are just expensive for the sake of exclusivity.

If that last criterion made you feel hopeless about your ability to buy a place in the #1 neighborhood in Boulder, please don't be discouraged. If one knows where to look, many Boulder buyers can find a great place in this the best neighborhood in town that supports both their lifestyle and budget. If you'd like to find out how, email me, and we'll chat.

The Top 5 Neighborhoods in Boulder and Why - Part 1

Stu Galvis (Keller Williams Boulder) — Thu, 07 Apr 2011 18:05:02 -0700

Out-of-towners and those looking to relocate to the People's Republic of Boulder always ask for recommendations on Boulder neighborhoods, and that's a tough topic to address. Neighborhood selection is extremely subjective which, honestly, depends completely on individual lifestyles and how those lifestyles will be best supported.

However, since I'm a gluton for punishment, and since I've been asked by home buyers for neighborhood recommendations twice in the last week, I thought I'd put together a few metrics around identifying some of the best 'hoods in town. Then I'll be able to (relatively) objectively weigh the pros and cons of the different areas in Boulder in which to live, which I'll do over the next 5 weeks.

First, though, I need to explain how this is going to work.

Step 1 - Decide on the most common considerations amongst any Boulder neighborhood.

But how does one go about identifying the most common considerations of any given neighborhood? Well, after some careful thought, I decided to let our clients decide. So I asked Syd and Brian, "why do most folks move to Boulder, and what do most people love most about living in the best town in Colorado?"

The criteria on which I finally decided are all based around those things with which Boulder living is synonymous: health, sustainability, community, beauty, innovation, active lifestyles & the outdoors.

All of the neighborhoods will be ranked in the 6 areas identified below on a scale from 1 - 10.

A 10 indicates paradise for someone interested in the given criteria. For example, if one wants a very affordable neighborhood, then that person should look for a 10 in Category 6 - Affordability. This would be Aurora Terrace - basically the last place in Boulder where it MIGHT still be possible to find a home for less than $300,000.00.

A 1 indicates a miserable failure in any given category. For example, if one wants to live in a beautiful neighborhood, then that person should avoid the neighborhood that scores a 1 in community aesthetics. This might be a strip of poo-poo-brown townhomes built in 1972, stuck between a car dealership and a trailer park (you know who you are, and it's a good thing you repainted!)

1. Walk Score - Walk Score is a number between 0 and 100 that measures the walkability of any address based on its proximity to neighborhood amenities.

2. Proximity to Boulder Mountain Parks - General proximity to the City of Boulder's mountain parks with access to hiking, biking, climbing, fishing, paddling, & other outdoor recreation.

3. Proximity to Downtown Boulder - General proximity to all of the shopping, dining, arts, music & entertainment for which Downtown Boulder is so famous.

4. Community aesthetics - This one might be the most subjective of all, so you'll just have to deal with my opinion of beauty. I'll be considering homes, parks, vegetation, trees & architecture, amongst others.

5. Percentage of rentals vs. owner-occupied - Let's face it. Boulder's housing stock is around 51% rentals and it's also a town of two colleges. Many of the neighborhoods that are closer to CU Boulder or Naropa are mostly rentals, and many renters don't make great neighbors.

6. Affordability - This is the value piece. Boulder is expensive, and the fact of the matter is that many of the people who want to live here just can't afford to. There are a few pockets of value left in this town of low supply and high demand, though, and this criterion will identify the bang for the buck.

I'll be adding links and cleaning this one up over the next few days as I begin my research, so check back next week for more info, and look for our rankings to begin on Tuesday, April 19th.

Each Tuesday thereafter, I'll be adding the next best neighborhood in town in which to live, so come on back on a weekly basis, and let me know what you think about our choices.

Of course, if you want to leave your opinions of the best spots in town, please leave them in a comment and how you chose the way you did.

3 Reasons that NOW is the Time to Both Buy and Sell a Home.

Stu Galvis (Keller Williams Boulder) — Thu, 17 Mar 2011 11:33:56 -0700

Selling homes from Boulder to Denver hasn't been this fun since '06. It comes as a complete shocker that I'm having an amazing challenge right now keeping up with all of the home buyers and sellers we have flowing into our office! Of course, as a Realtor, that a happy challenge to have!!

The Housing Market From Boulder County to Denver County, with Broomfield and JeffCo in between, is experiencing an awesome event of pent-up buyer demand, and If you've wanted to sell a home, buy a home, or invest in real estate since 2006, right now may be the very best time yet!

Let's look at the three factors that are contributing to this new boom:

1. Housing Affordability has never been higher and homes are UNDERVALUED!

Housing affordability is a measure of the percentage of the average American's income that is spent monthly or annually on home ownership. Of course, this is also based on median income and the average US home prices. Affordability certainly varies from state-to-state, region-to-region, and city-to-city. The bottom line, though, is that in most areas in the country, including the Boulder / Denver area, homes are incredibly affordable compared to the last 40 years. In fact, according to the research firm Capital Economics, when compared to historical averages, homes look to be about 21% undervalued, making buying look like a better option than renting.

2. Mortgage Interest Rates are still at historic lows, and they're climbing.

Buyers have been on the fence for the last 4 years, listening to the fear-based national media, and waiting for both interest rates and home values to bottom out. Well, now there's a lot of buzz around the fact that rates are going to be on a steady climb for the foreseeable future, and smart buyers aren't waiting anymore. They've gotten off of the fence, and they're headed down the path toward their new home. Would you like to sell them yours?

3. Buyers are crawling out of the woodwork.

Thanks to the last two factors, buyers are appearing out of nowhere, making the jump from renting to owning, and moving up from their current home. As in any open market, home values are a function of supply and demand, and this increased buyer demand is really beefing-up our market for homes from Boulder to Denver. As in any market, however, this may just be a short-term bump, and those sellers that are ready to sell now are taking full advantage of it. If in the last few years you've needed to sell, but have stalled, or if you will need to sell this year, it's time to take action because this may be your best shot!

Of course, any open market is subject to change at any time, and the market for homes in Boulder / Denver is no different. Rates may eventually climb high enough that they'll turn-off buyers, and the FED will have to take action again to control the cost of cash to re-stimulate our housing economy through buyer demand. Alternately, enough sellers may decide to list that the inventory could spike and throw off the balance from the bottom-up.

Either way, the water looks pretty fine right now, so if in the last 4 years you've thought of making a move, do it now. Even if you don't wind up selling or buying, what have you lost? A little time?

These three factors could create a lot of gain - the ability to sell and not take a great loss; a great value on your new home; less time and fewer hassles in the process.

Fear not the Market - Boulder Denver Housing Update.

Stu Galvis (Keller Williams Boulder) — Tue, 01 Mar 2011 20:16:40 -0800

"The Market" is an interesting term. Many people refer to "the market" like it's some giant living in the hillside, coming down to visit the people.

We are the real estate market. Me, you, everybody. So the real estate market is going where we're going.

So the next time you ask yourself what the market is doing, ask yourself - what am I doing?

If those words seem familiar, that's because you, at some point in your life, have listened to hip-hop artist, Mos Def. Those words are actually almost verbatim from the opening lyrics of "Fear Not of Man."

Mr. Def makes a great point though - if you want to know what a social movement is doing, then all you need to do is ask yourself, what are the people doing.

The real estate market is just a social movement made up of buyer demand and seller supply.

Buyers want to buy homes while the inventory is still high they want to do it NOW! Why now, you ask? Because they want all of that super-cheap money thats becoming less cheap by the day. Interest rates are steadily climbing, pushing buyers off of the fence, and this buyer demand is pulling homes from the market, causing the inventory to drop.

The result? Homes are selling, people are moving, and I haven't seen this level of activity in YEARS! Buyers are buying, sellers are selling, and the Galvis Group has had 3 closings in the last 3 business days with several more to come in the next 60 days.

If you want to know what the market's doing, ask yourself, "what am I doing?" If you're a buyer, you can get a lot of value in a great home with a very low interest loan. If you're a seller, you can absolutely sell your home in 30-60 days and get a good price.

We are the market, and if we take no action, there is no market. If you want to sell or buy a home, though, it's time. The market is moving at your speed.