Your VOTE is important! NOW is the Time.
Hey Boulder! Don't forget to vote. Boulder's future is on the line. Ballots are due tomorrow, November 3rd. It's too late to mail, you must drop it off. Polling locations are HERE. Bill Moyers Essay: Your Vote is Important -- Here's Why (2008) from BillMoyers.com on Vimeo.
Boulder Sales Volume Up Almost 20% [Analyze This]
by Osman Parvez ---- 560 residential units traded hands last month in Boulder County, a 19% increase from the previous year. Within the city of Boulder, sales volume was up 15%. Longmont saw a year over year increase of 34%. As smaller cities, Superior, Louisville, and Lafayette are typically more erratic on a month to month basis. September was no exception, with sales dropping 21% in Lafayette but rising 78% in Louisville. Superior was a wash. Sales volume is a good proxy for demand. Be sure to compare it to our analysis of inventory conditions for the bigger picture. [...]
Property Taxes, Oy Veh!
by Osman Parvez ---- 2015 Tax Assessments are in the mail. Get ready for an eye popping increase to your property value and tax bill. Welcome to the dark side of appreciation. What will Boulder do with all the extra money flowing into the coffers? Spend it of course. Stay tuned! If you're trying to appeal, you have until June 1st. Here's a link to the appeal form. Be sure you watch our video below before you appeal. Good luck! ---- As always, your referrals are deeply appreciated. -- The ideas and strategies described in this blog are the opinion of [...]
Dirty Data [Visualize This]
by Osman Parvez This post is mostly for the Realtors in the audience but it should also concern those who track real estate markets in Boulder and beyond. Back in January, I wrote an open letter to BARA concerning an data error in their statistical analysis. The chart below is a visualization of a problem with dirty data. IRES and Metrolist (METRO) provide MLS services for our region. Throughout Boulder County, IRES dominates the market (blue). In some locations, Broomfield most notably, Metrolist has a significant market share (grey). The data provided by the Boulder Realtor Association, [...]
Reg Z – Impact in Boulder?
by Osman Parvez On January 10, the new Qualified Mortgage Rule went into effect. Created under Dodd-Frank, the rule tightened lending standards in exchange for increasing lender protection from liability. In theory, this should allow easier securitizations - important as the Fed kills off its quantitative easing programs. On the ground here in Boulder, overall sales volume dropped 13.7% since the rule went into effect (chart) but sales of $1MM+ properties has continued at the same pace as last year. From a Loan Engine Keeps Humming (WSJ): Many in the mortgage industry worried that the "qualified mortgage [...]
Unstoppable Demographics Drive Housing Demand in Colorado
by Osman Parvez Cranes dot the city and construction vehicles are everywhere in Boulder these days. What's going on? Colorado is experiencing a development boom. Here's why. The population of Colorado has been growing steadily, even during economic recessions. The chart above shows a combination of historic census estimates and the latest projections from the State Demography Office. During the next ten years, Colorado is expected to add nearly a million people - about 20% more than today. Here in Boulder County, population growth is more modest. The population is expected to grow a [...]
Lessons from The Flood [Insurance]
by Osman Parvez Last September, many Boulder residents found out firsthand whether they had adequate flood insurance coverage. Debris still fills local drainages and experts are concerned with flood risk during the upcoming spring thaw. Are you adequately covered? What should you know about flood insurance? Join us this Thursday at the Boulder Real Estate Meetup. Catherine March from Affordable American Insurance will be joining us to share Lessons from the Flood. We'll also have Brandon Apple, Senior Project Manager from Mold Inspection Sciences presenting his tips for dealing with mold. I'll be hosting a discussion about [...]
Pssst… Shop My Buyers and Sellers
by Osman Parvez Thinking about selling your property? Before you call a Realtor, consider shopping my active buyers and sellers. If there's a match, I can save you thousands on commissions. If any of the following is of interest, call me directly at 303.746.6896. Click HERE if you can't see the document above. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
Don’t Be a Victim – Scam Warning
by Osman Parvez Just a heads up. Scam artists always follow natural disasters. In the coming days and weeks, there will be rush to repair and put right what flood victims have lost. Be wary and be wise of con artists posing as contractors, particularly those who stop by in front of your house or who are from out of the area. Verify that they represent a legitimate business and be cautious about providing payment up front for services yet to be rendered. Common scams involve home repair, debris removal, insurance fraud, and door to [...]
The Great Flood – Dealing with Insurance
by Osman Parvez Like many of my Boulder friends and neighbors, I've been dealing with the aftermath of the flood. Here's a few bits of advice: Handling Insurance Document everything. Take extensive photographs (and video) of the damage, including damage to your personal possessions. What caused the damage may determine whether your insurance will provide coverage. This includes whether it was caused by failing sewer systems (usually covered up to $10,000) or rising flood waters (usually not covered without purchasing additional coverage). Remember that part of the job of an agent and/or adjuster is [...]
