It’s cold in Boulder…..twenty plus below…..bitterly cold. The Colorado ski areas are thrilled, two feet or more of fresh snow! Be patient, it’s warming up, not just weather-wise but in the real estate market as well.
According to the Denver Post on December 9th, 2009, Metro Denver showed its first year-over-year improvement in 11 months, as the number of homes sold in November surged 23% over the same month in 2008. The economy is warming up and that is good news. Confidence levels are improving and that will be a boost to the economy across the board. Part of this surge may be due to the rush of first time homebuyers who thought the tax credit program was going to expire on November 30th. The good news: it has been extended for five months! The $8000 tax credit for first time buyers has been continued with the addition of a $6500 tax credit for move-up or move-down buyers! However, to be eligible for these incredible programs, the buyer must be under contract by April 30, 2010 and closed by June 30, 2010.
Contributing to this unique window of opportunity is the availability of historically LOW INTEREST RATES and tons of motivated sellers. One might say that the “perfect storm” has arrived. All conditions are perfect and have come together to make it an opportune time for the homeowner, whether it’s a first timer or one who just needs a change of venue. Think about it. Seriously. You don’t want to miss out on this opportunity of a lifetime.
The weather is warming up, right along with the Boulder, Colorado real estate market.