For the second year in a row, I found myself very busy in December.The market took off early in 2010 with the extension of the tax credit. There was a bit of a lull after the tax credit expired, but in the fall many buyers sized up the market and decided to take advantage of low interest rates and great prices. The Boulder County real estate market improved in 2010 over 2009. The number of sales increased slightly in 2010 and the median price increased a bit in most areas of the county. The largest increase was in Louisville where the median price was up 11%.
I'm optimistic about continued market recovery in 2011. Excellent market conditions continue to exist for buyers and it's well worth your while to consider taking advantage of these conditions to make a move or to make an investment in real estate. Interest rates continue to be historically low, but have started to rise slightly, so now is a good time to buy or refinance. For sellers, getting on the market now -- instead of waiting for the traditional Spring selling rush -- will likely net a better price. The ratio of listings to buyers is lower in the first quarter, and this generally results in a higher sense of urgency for buyers and a better environment for sellers.
Successful deals in this market take time, knowledge, patience and persistence. Thankfully, this is the kind of real estate I've been practicing my entire career. I've never hurried anyone into a deal or pushed a sale that didn't make absolute sense. If you or any of your family or friends want a trusted advisor who always will keep your best interests at the forefront, give me a call. As always, I appreciate your referrals. - Rich