Whole Foods & Trader Joe's Boost Real Estate

According to a Zillow study, the average price of homes nationwide within 1 mile of a Whole Foods or Trader Joe's increased 144% between 1997 and 2014 compared to a national average of a 70% increase in home value between 1997 and 2014. The average price in Boulder increased 191% between 1997 and 2014 while the average price of homes within 1 mile of Whole Foods and Trader Joe's (28th and Pearl) increased 234%.

The article by Zillow concludes by pondering whether both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying or whether  the opening of either location positively impacts home values. I would say that both Whole Foods and Trader Joe's are smart about finding neighborhoods on the verge of gentrifying. After all, who would have guessed years ago that the area around the old Crossroads Mall would be considered the hip and central location it is today? Read the full article.

I hope you and your family are enjoying the final days before school starts. Please don't hesitate to contact me if I can help you, a family member or a friend with any real estate needs, even if they just want to ask a question. - Rich

Millenials Love Colorado

Interest rates have edged up this year. The 30-year fixed rate is currently 4.75%, compared to 4.0% a year ago. Regardless, the real estate market in Boulder County remains strong. The number of sales so far this year are nearly identical to last year. In the city of Boulder specifically, the number of sales are slightly higher.  

Millennials love Colorado. It's currently the #3 state for Millennial relocation, with four cities in the top 25 destinations nationally.  Favorites include  Denver (#8), Fort Collins (#17), Colorado Springs (#20) and Thornton (#25). 

Boulder County cities are less popular among Millennials, and this is likely an affordability issue. We've been hearing about the "graying of Boulder" for years, but again, activity is high. Rising interest rates certainly impact first-time buyers more. It will be interesting to see if higher interest rates eventually slow things down. I'll keep tabs on the stats and let you know what I see.

If you want to discuss current market trends and ways to make the market work for you, p lease contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a wonderful summer. - Rich

RE/MAX of Boulder #1

Despite Boulder Valley being one of the tightest real estate markets in the country, RE/MAX of Boulder was named the #1 Single RE/MAX Office in the US for 2016 sales volume.

The award marks the 8th time we've earned that national distinction, and I'm proud to be a top-10 agent here. My experience, deep knowledge and fierce commitment to each client together make the difference in our competitive market.

I take a measured approach to the market that ensures my clients are making good decisions. Over the last three years, I've seen some costly errors caused by inexperience. Right now, all signs point toward continued high demand and low housing inventory. More than ever, it's important to have an experienced and committed agent on your side. If you're interested in making a move please call me any time or pass my name along to friends and family. I'm glad to help in any way.