Market Update

Market Update

October 2010 MARKET UPDATE
                              BOULDER CO REAL ESTATE

Real estate markets and economies are trend oriented.   They have a tendency to follow specific paths.   Sometimes those paths are a gentle rolling road…merrily going along.   Other times the road is fraught with hurdles; i.e., rock slides, floods, snow storms, etc.   When those hurdles occur, it takes time to clean-up the resulting mess.
That’s where the real estate market and economy are today…in a clean-up mode…cleaning-up a financial market not fraught with rock slides, etc., but with fraudulent business practices, greed and stupidity.   Many people have suffered.   Others have prospered.   There is always money to be made in difficult times.
The Federal Reserve has attempted to expedite the clean-up by pumping a gazillion dollars (that’s a lot) into the economy.   All that is left for them to do now is to start giving money away.   One would surmise the “free money” line would be considerably longer than the current unemployment line.
After the clean-up has occurred, life isn’t the same.   Things have changed.   People’s perceptions have changed.   They have become more astute, more aware and more conscious of the circumstances of their lives.   They are more analytical and patient.   A knee-jerk reaction is no longer their immediate response.   They attempt to think things through more clearly before they make a decision, be it to buy a home, buy a new car, or even where to eat dinner.
In many ways, that is how the Boulder Valley real estate market has evolved.   It is a collective group of buyers and sellers attempting to make wise decisions.   Is this the best time to sell my home?   Is this the best time to buy a home?   Will mortgage interest rates continue to improve or will they “trend” upward?   These are all legitimate questions.
The Boulder County real estate market for 2010 appears it will have a similar number of sold listings as compared to 2009;...