Can We Still Appreciate Appreciation?

From The New York Times to cable news, real estate appreciation has been the talk of journalists lately. Specifically, the topic of discussion is whether or not homeowners will ever experience property appreciation the way most parts of our country did in the latter half of the 20th century.

The obvious answer to this is, time will tell. In my opinion, property appreciation will be extremely localized. Maybe I just like to look at the glass half full, but living and working in this area of Colorado—Boulder/Broomfield/Denver—we see firsthand that growth is a real occurrence and not just a plan.

According to the City of Boulder, the originally projected population and employment levels for Boulder Valley in 2020 have already been reached. And Kiplinger’s Personal Finance magazine last month ranked Boulder as number four on the list of “Best Cities for the Next Decade.” Coincidentally, Boulder’s director of community planning and sustainability was quoted in the article regarding being challenged with managing growth without seeing home prices get too high.

So before you decide to sign another lease, think long and hard about your plans for the future and whether you would rather rent year after year or possibly one day relish in your gold mine of a home. I think you’ll appreciate it.

Timing is Everything

We all know 2009 wasn’t exactly the best year on the books for real estate, so how is this year comparing to last? Let’s start with the good news – the market is picking up. And now the bad news – sales in July 2010 were down 26.6% from July 2009. To explain, the data from July is really from activity that was happening in May and June. With the government tax credit this past spring, there were a lot of buyers enticed to make the April 30 deadline, thus causing a bit of a slowdown in the months following.
What I noticed when the market was hot this spring was that a lot of people listed their homes for sale after realizing this—on the tail end of this peak—but it was too late; the frenzy had begun to subside. Now we’re seeing people who had listed their home in late April take it off the market now after missing those potential buyers. Timing is everything!
Back to the good news—activity has definitely increased the past few weeks. People are getting out of their vacation mindset and back into reality, which for some people consists of moving. Showings are on the rise, and time will tell about prices.

Zucca - Fits Right in to Louisville's Expanding Restaurant Scene

My wife and I finally got around to trying one of the restaurants on our short list, Zucca in Louisville. Thanks to a night of free babysitting by my mother-in-law, we took our time enjoying several courses and loved everything we ate (the linguine with clams was the best!). All the food tasted very fresh, the atmosphere was cozy yet comfortable, and our server was attentive but didn't rush us. Though we didn't try the special offering that night because everything on the regular menu looked so enticing, our server did note that the ingredients came from their farm on 63rd Street, which happens to be the place of this Friday's "Bounty of the Harvest" dinner. The portion sizes were perfect too. They also have happy hour every day and lunch on the week days. We'll definitely be going back!

The Restaurants Are Coming, The Restaurants Are Coming! - David Janis Real Estate

Competition is always a good thing, especially when it tastes good! Take a walk through downtown Louisville these days and you'll notice some new restaurants and a few coming attractions. Now, I've always loved dining in Louisville (did you know Waterloo has an awesome brunch now?) but I think all the options will really put downtown Louisville on the map for eating out.
Recently opened Alley Cat and Zucca seem like they're off to a great start. And you can't help but notice the old post office building will soon be home to Lucky Pie, a much needed pizza joint from the previous owner of the Empire. Across from the Huckleberry the finishing touches are going in on The Cactus Wheel, which will have quite the selection of hot sauce.
Next time you visit downtown Louisville, bring your appetite!