A quick market update for buyers, sellers and investors in Boulder Valley real estate.
Rich's Boulder Valley Real Estate Report
Quick Market Update
A recent survey showed that rents in Boulder are the most expensive in the state and increased 5.6% over last year. Zillow reports the breakeven horizon (the number of years a renter must live in a home before ownership becomes a better financial proposition) is 2.5 years in the Boulder market. The national average for breakeven horizon is 1.7 years and the most expensive markets in the country have breakeven horizons of 3.6 years. Because of Boulder's high rental rates and relatively reasonable breakeven horizon, purchasing a home in Boulder County is still attractive and continues to contribute to price increases.
Based on these stats and the fact that interest rates are 1/2 percent lower than a year ago, it's no wonder the market remains hot with more buyers than sellers. Now is obviously a great time to be a seller, but buyers (homeowners and investors) who act sooner rather than later can derive enormous value from this market too. Call me anytime to discuss how to make the market work for you.
- Rich 303-931-6979
Area Home Sales
30 year fixed conforming 3.625%
5/1 ARM conforming 3.375%
7/1 ARM conforming 3.375%
15 year fixed 2.875%
30 year fixed jumbo 4.0%
5/1 ARM jumbo 3.5%
7/1 ARM jumbo 3.75%
Rates provided by Calvin Cox at Commerce Mortgage at 303-931-8360.
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Friends & Family
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