Denver Among America's Greenest, Most Livable and Most Popular Cities

When it comes to green living, Boulder gets five stars for its commitment and ingenuity as I discussed in my last post. But it should be noted that as far as major metropolitan areas go, Denver ranks among the most environmentally friendly cities in the nation (as well as one of the most desirable to call home).

The Environmental Protection Agency recently released results of a study that sought to determine America's greenest skylines as reported Monday on Forbes.com. A city's ranking was determined by the number of Energy Star-certified commercial buildings and manufacturing plants.

Denver ranked as having the 7th greenest U.S. skyline with 109 Energy Star-certified buildings including the signature "cash-register looking" building that is the Wells Fargo Center.

According to the EPA, a total of 6,200 buildings have been awarded the Energy Star designation nationwide for an annual utility savings $1.7 billion for those buildings.

In the past week, Denver also has garnered attention in two other notable categories on Forbes.com's real estate section:

• On April 1, Denver was named No. 11 in Forbes' list of America's Most Livable Cities
  
  
• On March 30, Denver was ranked No. 10 in Forbes' list for Cities Where Americans Are Relocating.
  

That's good news for Denver's real estate market!

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.

Denver's Real Estate Market Fairing Better Than Most U.S. Cities

Is Colorado's real estate glass half full or half empty? While homeowners from Boulder to Denver and up and down Colorado's Front Range are hurting along with the rest of the nation, it's true that we're in a much better spot than those around the country. As reported last week in the Denver Business Journal, Denver's 2008 housing price decline was the smallest of all 20 major U.S. cities tracked by Standard & Poors. According to the S & P report, which is available online, Denver's average price of existing homes fell 4 percent between December 2007 and December 2008. This was less than the other 19 cities in the study including Phoenix (which suffered the greatest with a 34% price decline), Las Vegas, Dallas, San Francisco and Boston.

The report also looked at monthly price declines from November 2008 to December 2008. Denver's 1.5% decline was second only to Boston's 1.3% decline.

So while I consistently caution sellers not to expect the returns we saw in years passed (Denver's housing prices peaked in 2006), I think we're fortunate to be in or near a major city that demonstrates some resilience even in the toughest of times. We're not bullet proof by any means, but we're certainly standing up to tumultuous conditions better than most.

Another bright spot for area residents as we kick off the month of March: Today in Boulder it's 68 degrees, sunny and dry. [Don't tell that to those from New England to Atlanta who are expecting up to a foot of new snow in the next 24 hours!]