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On The Move
My monthly newsletter is designed to provide you with information about:
Buying or selling a home...
Homeownership...
Boulder County Real Estate Market Statistics...
Mortgage News...
Upcoming Community Events
And more...
Subscribe now if you would like to receive this free
newsletter via e-mail each month.
Enjoy!
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On The Move
From Michelle Vancil July 2010 |
Michelle Vancil |
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Happy July! Sorry for the delay in getting this month's newsletter out to everyone. I wanted to wait for the final 2nd quarter numbers to come out (see detailed numbers in Area Real Estate Sales below).
Across the board the number of sales for both single family and condos/townhomes were up 2nd quarter of 2010 over 2nd quarter of 2009. This is great news, yet...I'm a little worried we may not see the same rise in the 2nd half of 2010 due to the expiration of the first time home buyer and move-up buyer tax credit. The government did extend the closing date to the end of September (giving Buyers two extra months to close on their house and receive the credit), but the time line to go under contract has passed. We'll know more in a few months.
Check out the mortgage rates below. It might be a great time to refinance if you haven't done so already. Rates in the mid 4%. We didn't think they'd go quite this low, but here they are! Let me know if you need any lender contacts to get your mortgage lower while you can. If your current rate is above 5.5% is might be worth it.
I had a chance to get away camping with my family up in Rocky Mountain National Park this last weekend. I'd forgotten how breathtakingly gorgeous it is up there, and how close we live to all of it! I hope you get a chance to relax in the great outdoors this Summer. Being so close to the mountains is one of the reasons a lot of us live here. It's a great reminder why we live in such a desirable place and why real estate in the area is a great long term investment.
Have a great month.
Michelle |
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Area Real Estate Sales
2nd Quarter - 2009/2010 Year-to-Date Market Comparison
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Residential |
2009
Avg. Sales
Price $ |
2009
Avg. Days
to Offer |
2009
Units
Sold |
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Metro Denver |
$252,363 |
73 |
15,432 |
$277,023 |
82 |
16,506 |
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Boulder |
$651,360 |
77 |
239 |
$660,000 |
75 |
347 |
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Broomfield |
$328,657 |
99 |
318 |
$333,233 |
79 |
337 |
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Louisville |
$391,030 |
43 |
116 |
$449,151 |
48 |
106 |
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Lafayette |
$339,536 |
65 |
92 |
$341,392 |
69 |
141 |
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Longmont |
$235,998 |
79 |
399 |
$250,512 |
72 |
478 |
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Superior |
$396,996 |
57 |
56 |
$408,829 |
52 |
63 |
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Gunbarrel |
$450,867 |
67 |
37 |
$430,770 |
80 |
44 |
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Niwot |
$877,921 |
133 |
19 |
$626,057 |
102 |
23 |
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Erie |
$337,910 |
78 |
149 |
$339,889 |
102 |
206 |
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Mountains |
$411,478 |
154 |
83 |
$371,082 |
129 |
103 |
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Condos/Townhomes |
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Metro Denver |
$155,753 |
76 |
3,931 |
$162,012 |
87 |
4,484 |
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Boulder |
$319,764 |
99 |
291 |
$298,137 |
139 |
360 |
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Louisville |
$188,774 |
61 |
25 |
$219,227 |
83 |
26 |
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Lafayette |
$187,706 |
98 |
37 |
$175,631 |
50 |
59 |
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Longmont |
$171,281 |
107 |
78 |
$171,871 |
71 |
96 |
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Superior |
$265,625 |
79 |
18 |
$228,892 |
87 |
25 |
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Gunbarrel |
$174,087 |
85 |
41 |
$187,365 |
60 |
52 |
 In The News....
New-home sales plunge 33 pct with tax credits gone Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits. read more here
Census shows 11 Colorado cities (Including Boulder) have more than 100,000 residents In the metro area, the estimates showed that Centennial and Boulder rose above 100,000 in population — making them the 10th and 11th Colorado cities to surpass the mark. In 2000, there were eight. Boulder's rise above 100,000 was due to growth and a city challenge of earlier census estimates as too low, said City Planner Chris Meschuk. read more here
Current Mortgage Rates
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Mortgage Type |
National |
Local |
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15 Year Fixed |
4.08% |
3.875% |
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30 Year Fixed Jumbo |
5.51% |
5.875% |
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30 Year Fixed |
4.69% |
4.375% |
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5/1 Arm |
3.68% |
3.5% |
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5/1 Arm Jumbo |
4.19% |
4.375% |
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FHA 30 Year Fixed |
4.75% |
4.5% |
Examples and are based on market conditions as of July 8th, 2010. Local rates include 1 point paid to Lender. This is not a guarantee of any kind. Interest Rates are subject to daily change based on market conditions and a variety of specific qualifications for borrowers
4.5% has finally arrived!
For homeowners, a rate of 4.5% for a 30 Year fixed mortgage has been always been just out of reach. Even a year ago, when rates were around 5%, lending institutions were saying 4.5% would never happen. Well, the time has come and lots of homeowners are taking advantage of what is sure to be a very small window of opportunity to refinance their homes. Of course every refi has to make good financial sense; homeowners have to recapture their costs quickly, and there must be short as well as long-term benefit. But speaking generally, if a homeowner is paying 5.5% or over for a $200,000 mortgage, there is benefit to the refinance.
Local Events...
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Colorado Shakespeare Festival
July 2th - August 8th
Colorado Dragon Boat Festival
July 24, 2010 - July 25, 2010
Location: Sloan's Lake Park
http://cdbf.org/
Boulder Outdoor Cinema
July 5th - August 28th
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3rd Annual Boulder Festival of the Arts
July 24th – July 25th
Location: 29th Street Mall
www.artfestival.com
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"We are still masters of our fate. We are still captains of our souls."
-Winston Churchill
Contact Michelle
303-588-4847 or
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