Lafayette Colorado Strathmore Park Apartments Sold

strathmore park apts lafayette coloradoThe Lafayette, Colorado apartment business is apparently very strong.

Lafayette’s Strathmore Park Apartment complex recently sold again, and for a significantly higher amount than the last sale.

I think it’s pretty clear that investing in rental property in general is a good move these days in our area.

Rents in Boulder County are up considerably, and vacancy rates are extremely low.

I’ll give you my honest opinion on what’s going on with investment and rental property in our area at the end of my post.

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Boulder Library Coffee Shop

Boulder Colorado Library BridgeThe Boulder library has had, on and off for years, a cafe of some sort on the bridge that connects the original library building to the ‘new’ building we access from Arapahoe Ave.

The bridge has been part of the library for years, and a coffee shop has been part of the experience most of the time.

What happened about 20 years ago is the library was expanded, and everything shifted mostly over to the south building.

At that point, the bridge became a kind of hang-out, and has included some version of a coffee shop on and off for years.

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Denver Metro Home Affordability Low

The Denver Metro area is becoming less affordable.

Boulder probably represents one of the metro area communities which is getting to be the least affordable.

Some sources say that in comparison to the rest of the country, the Denver metro area is the 14th least affordable of all, ranked against the 100 largest metro areas in the US.

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Boulder Colorado Schools $5mil+ building upgrades

Boulder Valley Schools are going to get some major upgrades thanks to voters.

A measure on the recent ballot passed by narrow margins to approve upgrading all of its 55 schools

Some will be completely torn down, as Casey Middle School essentially was a few years ago.

Others will be improved on a smaller scale such as getting a new roof, or various rebuilding or remodeling.

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Market Update Q3 Boulder Colorado

remax sold signGenerally the market has leveled out. Home inspection seems to be the hot topic now, as buyers are becoming more attentive to noticing problems and deferred maintenance.

Number of homes sold are down slightly compared to Q1 and Q2 2014, and inventory is slightly up this year.

However, the prices seem to be up slightly, and days on market seem to be down compared to earlier in the year.

We are also seeing appraisers becoming more cautious and conservative. Sellers seem to be somewhat slow to understand this and are in some cases still over-pricing and stretching the boundaries on what they are asking in pricing.

I’m occasionally seeing multiple buyers for homes which are priced right, and buyers competing on price even above the asking price for their home, and yet in some cases, the appraisal comes in lower than contract price.

Makes for some interesting negotiating unless buyers are willing to make up the difference between what the lender will loan versus the appraised value. I see many different positions buyers are taking when this happens, and we are still managing to reach agreements and close most purchase transactions.

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