Showing posts with label real estate opportunity. Show all posts
Showing posts with label real estate opportunity. Show all posts

3.31.2009

Four Colorado Cities Among Forbes.com's "Best Places" List

Anyone who lives on Colorado's Front Range should be proud (and relieved) at Forbes' release of its latest "best places" list titled "Best Places for Business and Careers." While Raleigh, North Carolina, snagged the list's top spot, Colorado is well represented in the Top 20. In fact FOUR out of the Top 20 cities ranked by Forbes are located on Colorado's Front Range (that puts Colorado second only to North Carolina, which had 6 cities among the Top 20).

In order of ranking, Colorado's honorees are:
  • No. 2 - Fort Collins - 55 miles northeast of Boulder
  • No. 10 - Colorado Springs - 96 miles southeast of Boulder
  • No. 14 - Denver - 26 miles southeast of Boulder
  • No. 20 - Boulder

The rankings were determined by each city's collective ranking in four major categories: 1) the cost of doing business; 2) projected job growth; 3) educational attainment; and 4) metro area population.

Click here to read Forbes' data that led to Boulder's 20th place ranking.

3.24.2009

Boulder's Rental Market Thriving Despite High Rent Rates

I specialize in Boulder, Colorado, real estate sales -- not rentals. Nevertheless, it's interesting to look at rental data and see how it compares to neighboring cities in Colorado.

Just how desirable is Boulder and what are home-seekers willing to pay for a Boulder address and the incredible lifestyle that Boulder offers its residents?

Plus, there is always a good chance that today’s renters are tomorrow’s buyers, so it’s good for me to keep a pulse on the Boulder rental market. And that market is on fire!

While vacancy rates in the Denver-metro area hit a two-year high by December of 2008, the vacancy rates in Boulder and Broomfield counties declined from 5.9% in Q1 of 2008 to 3.9% in Q4 2008. Rentals are hard to come by in Boulder and that means they aren’t cheap either. The average rent for apartments in Boulder and Broomfield counties has jumped 18% since late 2007 to $1,453, which is the highest on the Front Range. Denver’s average apartment rent is $995. This data all pertains to apartments rentals and its surge likely can be attributed to a thriving student population at University of Colorado. The University’s largest freshman class in years is currently in the dorms and looking for off-campus housing for the 2009-2010 school year.

With interest rates low and resale inventory plentiful, it’s a prime time for CU parents who may be thinking of purchasing a Boulder rental for their college-aged kids. Our office at Sotheby's International Realty is located in the heart of Boulder at 1500 28th Street. Our team's native knowledge of Boulder can be a great tool for those considering the purchase of a rental investment. Call us at 303-440-4999, email us or stop by our office today.

3.06.2009

Boulder Real Estate Faces Housing Size Dilemma

There's a hot button issue in the Boulder real estate and housing worlds. Locals know it as the "pop-and-scrape" topic. It's a common site in Boulder's old single-family neighborhoods such as the Newlands: Original homes are being bought for the land they sit on then torn down or massively rennovated sometimes leaving the neighboring old homes in their shadow. The challenge for Boulder City Council is to address the mounting concern by area residents without infringing on personal property rights.

Boulder City Council agreed on Wednesday on a set of regulations that may force builders to adhere to new limits on the percentage of a city lot that’s covered by finished square footage of a new home and to limit the length and height of outer walls.

So what about those who have already spent thousands of dollars and hours of energy coming up with architectural plans for their Boulder dream home? What if their plans match the regulations set forth at the time they commissioned an architect to draw the plans but now suddenly their house is too big for the proposed regulations? Boulder Planning board discussed a "hardship" exemption for these cases but then expressed fear that builders would use this as a loophole and the initial problem will rage on.

It's an issue that will continue to evolve as Boulder implements new programs aimed at managing growth and preserving the authenticity of its older neighborhoods. The City of Boulder has created a website explaining the housing size limitation issue. If you follow Boulder real estate, it's a great resource for understanding what the future of Boulder housing may or may not look like.

2.13.2009

Wineglass Ranch Offers a Rare Opportunity to Build in Boulder

As I discussed in my last blog entry, vacant buildable land in Boulder, Colorado, is scarce due to the city's growth limitations and Boulder's aggressive open space programs. The very thing that makes Boulder such a great place to live also makes it a more difficult place to get established if your dream is to build from the ground up.

There are a few exceptions in and around Boulder, however. I recently listed three amazing Boulder home sites collectively known as "Wineglass Ranch." Sited in north Boulder just southwest of where Broadway meets Hwy 36, these lots are rarities in terms of their size, view corridors and quick access to downtown Boulder. Two of the three lots are roughly 7 acres while the remaining lot is +/- 5 acres. The views are spectacular. From Boulder's Flatirons to the south to the craggy rock formations toward Lyons, Colorado, to the north and even Boulder Reservoir, these sites offer a true feast for eyes. And they are a trailblazer's delight with easy access to the veins of public trails that traverse across Boulder's northern foothills.

Another distinction that makes these lots so prime is their access. Each site has paved driveways off of Lee Hill Road (also paved), and each lot is serviced by city utilities. The lots range in price from $960,000 to $1.39 million each and can be purchased individually or together. They certainly are a blank and marvelous canvas for someone seeking to create their Boulder masterpiece.

2.11.2009

What is Boulder Real Estate's "Market Action Index"?

So just what kind of market is the Boulder real estate market in February 2009? A buyer's market? A seller's market? Those questions are broad and the answers may vary depending upon variables such as the areas and subareas in Boulder and the price range in which one is buying or selling.

ALTOS Research, a real estate research company that gives subscribers real-time research statistics, attempts to quantify "buyer's market" and "seller's market" using a "Market Action Index" or "MAI." The MAI is a statistical function of the current rate of sales versus current inventory. An MAI value of 30 or greater typically shows a hot market for sellers while an MAI less than 30 typically indicates a buyer's market.

This week ALTOS shows a 90-day MAI of 17 for Boulder, Colorado. Thus, statistically speaking, Boulder is a buyer's market. However, home sales have been exceeding new inventory in Boulder for several weeks now and prices seem to have responded by moving upward. If the demand trends continue, Boulder housing prices may continue upward and the MAI will grativate toward that of a seller's market.

Regardless of what statistics tell us, low interest rates are spurring buyer's to act in and around Boulder. With real estate's prime selling season coinciding with historically low interest rates (and pending government incentives to buy homes), this spring may be a great time to be a seller in Boulder, Colorado!

10.18.2007

Grand Lake Lodge, rich in history

Much of the history of Grand Lake, Colorado, is taken from western classics. There were warring Native American tribes, French trappers seeking valuable furs, a famous explorer, mining booms, and even a bloody shootout. By turn of the century wealthy westerners had discovered the area and, in an era when every item had to be hauled in by wagon or stagecoach, they began spending colossal sums on lavish lakeside retreats. Some even had boats wrested up the rough mountain roads. In 1902, those vacationing movers and shakers registered the world’s highest yacht club (at 8,369 ft) and launched a spirited high-altitude Regatta that is held every August to this day.

The ruggedly beautiful vistas from the Lodge, in Grand Lake, Colorado are the kind that comes to mind when you hear the phrase “The Great Outdoors”. More than a hundred mountain peaks soar over 10,000 feet to shadow picturesque glacial valleys. Crisp pine-scented mountain air refreshes the spirit. Bear, moose, mule deer, fox, and cougars freely roam through tall forests and fish jump from the state’s largest natural lake and flash in the sunlight. It is land so extraordinary that, just after the turn of the century, the federal government set aside more than four hundred square miles of it to create Rocky Mountain National Park, thus protecting it from development forever. Grand Lake, at the park’s western entrance, is sometimes called its “ front porch”.

In 1919 a visionary entrepreneur, Roe Emery, hoping to profit from the park’s burgeoning crowds of tourists, built a system of strategically placed resorts in a easily traveled loop throughout the central Rockies. The rustic, but elegant Lodge, and more than other 100 cabins and outbuildings, were constructed of native lodgepole pine on a wooded overlooking the lake and Middle Park Valley and furnished with high quality Native American rugs, wicker furniture, and taxidermy. A circular stone fireplace provided a cozy gathering place for guests. Emery successfully operated the resort for three decades.

The current owners, the James family, acquired the 54 acre property in 1953 and have operated since, through four generations. They’ve added amenities and undated during their stewardship, but always without detracting from the Lodge’s original character. In fact, the Lodge is now recognized as a National Historic Landmark. There has always been fishing and hiking, but now there is a hot tub to relax in too. Early guests could watch the wild life and view the mountain vistas, but now they may do it from a heated swimming pool. The stables were part of the original resort, but now there are also 5 golf courses and 4 ski resorts in the area for a change of pace. The boating on the lake has a history more than a century long, but now there is also white water rafting and hot air ballooning. The real emphasis remains, and always will remain however, on the great outdoors and the park that surrounds the Lodge on three sides. Today, this iconic and historic property is available for the first time in many decades. Many possibilities remain for further resort or potential residential development. For further information contact Scott Franklund, at Legendary Properties Sotheby’s International Realty, 1225 Ken Pratt Blvd, Suite #121, Longmont, CO Phone: 303-443-6161. For additional information about the history of Rocky Mountain National Park and Grand Lake Lodge read A Quick History of Grand Lake by Michael Geary.
View the Grand Lake Lodge for Sale listing & other Colorado Luxury Real Estate & Investments