With the Wall Street Journal reporting the “tides have turned” on real estate and CNN/Money betting on home price appreciation in the New Year, 2013 could be the year of the real estate rebound.
Both local and national news indicate a favorable turn of events for the real estate market as the healing process from the great recession continues. As someone who is in the trenches daily, I can attest this is what the Boulder area market is experiencing too. In Boulder, Broomfield, Weld, and Adams counties, the under-$450,000 market is on fire. Buyers are getting off the fence and making offers.
The mid- to high-end market is also experiencing an uptick, but inventory levels aren’t as tight as the lower-end market, so buyers don’t have as much urgency to act quickly. As the under-$450,000 market surge continues, its effects will slowly trickle-up to the higher price points with move-up buyers. That’s not to say the high-end market is dormant; I have a listing at $849,900 in South Boulder, and in the past week I’ve had three agents tell me to let me know if another offer comes in.
As for new construction, it is still competitively priced, so sellers shouldn’t assume that their 6-year-old home has the same appeal as one that is nearing completion. If a house has already been lived in, buyers won’t pay as much, even if it’s in pristine condition. On top of that, certain energy efficiency features that weren’t available then are luring buyers now.
If you’ve been on the fence about listing your home for sale, there’s no better time to sell than when you have a buyer! I have buyers ready to act on “the one” so please call “Definitely Dave” at 303-442-5001 today. 2013 may just be your lucky year!
