Two Cities in Northern Colorado named among Wall Street Journal’s Top 10 Emerging Housing Markets for Spring 2022

The Hottest Places to Live Now Are Often the Most Affordable 

By Nicole FriedmanThe Wall Street Journal

Less expensive cities with strong local economies climbed The Wall Street Journal/Realtor.com Emerging Housing Markets Index in the first quarter, another sign that many home buyers are giving priority to affordability.

Fast-rising  housing prices  have pushed buyers from expensive coastal cities into cheaper housing markets in recent years.  Expanded remote-work opportunities  and a search for different lifestyles during the Covid-19 pandemic have accelerated the trend.

The migration is poised to continue as home prices set new highs and  rising mortgage-interest rates  increase borrowing costs for home buyers, economists say. The average 30-year mortgage rate jumped from 3.1% at the end of 2021 to 5.0% by mid-April, adding hundreds of dollars to the typical monthly mortgage payment.

“People are chasing affordability,” said Sam Khater, chief economist at mortgage-finance giant  Freddie Mac. In response to high housing prices and increased remote-work flexibility, he said, “people are reordering where they live.”

The Rapid City, S.D., metro area of about 145,000 people near the Wyoming border was the top-ranked market for the quarter. It was followed by Santa Cruz, Calif.; North Port, Fla.; Santa Rosa, Calif.; and Naples, Fla. The top 20 cities in the ranking have an average population size of about 600,000.

The Wall Street Journal/Realtor.com Emerging Housing Markets Index identifies the topmetro areas for home buyers seeking an appreciating housing market and lifestyle amenities.

The top-ranked markets in the first quarter had faster home sales, higher wages and shorter commute times than the market as a whole, said George Ratiu, manager of economic research at Realtor.com.  News Corp, parent of the Journal, operates Realtor.com.

North Port and Naples  were the top two markets in the fourth quarter  and held in the top five as Florida continues to attract migration from other states. Some of the top-ranked markets  are also desirable vacation destinations, including Santa Cruz, Naples and Coeur d’Alene, Idaho.

Rapid City, South Dakota’s second-biggest city, is a tourist and retirement destination because of its proximity to the Black Hills mountain range and Mount Rushmore. The metro area’s economy also depends on education, military and the healthcare sector, with Monument Health as the largest employer, Mr. Ratiu said.

Buyers have flocked to Rapid City in the past two years from Colorado, California and the East Coast in search of  fewer pandemic-related restrictions, access to outdoor recreation and a small-city feel, said Shauna Sheets of Keller Williams Realty Black Hills. Investors also have been drawn to the market’s affordable prices and rental demand, she said.

“What I hear more and more [is], ‘Rapid City is what Fort Collins used to be, it’s what Colorado Springs used to be, it’s what Denver used to be,’ ” she said. “What I’ve heard is, ‘Now we know how our state will react in a crisis, and I don’t like how my state reacts.’ ”

Rapid City’s house prices have climbed in response, making it more difficult for local buyers to compete, said Stuart Martin of Re/Max Results in Rapid City. The average sale price in the area hit $364,000 in the first quarter, up from $311,000 in the same quarter a year earlier, Ms. Sheets said.

About 77.5% of page views on Rapid City-area property listings came from outside the metro area in the first quarter, according to Realtor.com. The top metro areas for interest in Rapid City listings were Washington, D.C., Denver, Omaha, Neb., and Sioux Falls in eastern South Dakota.

In Topeka, Kan., which ranked 16th in the first-quarter rankings, affordable prices also are attracting out-of-state buyers and investors, said real-estate broker Abbey Wostal. The median sales price in the Topeka metro area was $155,000 in the first quarter, down 1.6% from the same period in 2021, according to the Sunflower Association of Realtors.

“Topeka, we’ve always said, we’re kind of a great little secret,” she said. “It may not be where you choose to vacation, but it is a great place to live, because it’s affordable.”

The Wall Street Journal/Realtor.com Emerging Housing Markets Index ranks the 300 biggest metro areas in the U.S. In addition to housing-market indicators, the index incorporates economic and lifestyle data, including real estate taxes, unemployment, wages, commute time and small-business loans.


 

8 Great Reasons to Buy This Home!

by Phil Booth

Hey there my fellow CLR folk,

 

I have this great property listed for sale at 775 Kalmia Ave, in Boulder.  This is a wonderfully secluded and peaceful spot, and with over 8500SF on 1.3 acres, there is plenty of elbow room.

 

I thought you might enjoy an easy look at the property by checking out this great new ‘Studeo’ interactive story-book.  Huge thanks to Alyssa for helping me produce this.  She did a great job of compiling and editing this great piece.  She pushed the boundaries of the ‘Studeo’ platform in creating this and, I think it came out really well!

 

Please click on the link to check it out, and please feel free to share this link with your buyers.

 

http://775kalmia.landmarkstories.com

 

AND NOW,  the 8 great reasons your buyers might want to buy this property.

 

A recent (April 2020) poll by realtor.com, revealed some interesting facts about what is really important in our homes, given our new ‘Stay-at Home’ perspectives!  Based on the poll, the following attributes surfaced as being really important to homeowners.
a quiet neighborhood
outdoor space
proximity to grocery stores and pharmacies
additional square footage
multiple flexible spaces with privacy
an updated kitchen
space for a home gym
OK, that is only 7… and the 8th, and BONUS reason…. AN INDOOR SWIMMING POOL!

 

Feel free to reach out with questions.

 

Be well and stay safe.

 

Phil Booth 

REALTOR

303-817-8307

Phil@ColoradoLandmark.com

Showing Update for Boulder County & Beyond

Our industry has been experiencing almost daily changes in the way we practice, and what we are allowed to do. This past week, after Colorado Governor Jared Polis announced the “Safer at Home” policy for the State, many individual counties updated their orders to extend “Stay at Home” policies for a longer period.

Here is an update on the current rules by county, (as of April 30, 2020) as it pertains to the real estate business:

Real Estate Showings: In-person real estate showings are permitted under the following conditions:
  • Unoccupied (vacant) homes and land only
  • Appointment only (no open houses)
  • Masks required for all participants
  • Number of in-person participants limited to the greatest extent possible
    • Participation by children is strongly discouraged
  • Social Distancing Requirements are met at all times
    • From the Order: Social Distancing Requirements. To reduce the risk of disease transmission, individuals shall maintain at least a six-foot distance from other individuals, wash hands with soap and water for at least twenty seconds as frequently as possible or using hand sanitizer, cover coughs or sneezes (into the sleeve or elbow, not hands), regularly clean high-touch surfaces, and not shake hands.
    • Must otherwise adhere to all guidance on social distancing
    • Must maintain 6 feet of distance from customers when showing houses
  • Must maintain a detailed log of customer interactions in case contact tracing becomes necessary. This log should include name, date, and location of contact, as well as the contact’s phone number and/or email address.
  • Must provide gloves and masks for any customer interactions
  • Should perform tasks remotely or virtually whenever possible, including pre- and post-visit conferences

Showings are not allowed until May 9th.

Tri-County Health’s website has some guidance that says showings can resume in Douglas County on April 27th but says nothing about showings for Adams and Arapahoe Counties.  This implies that showings may not be allowed in these two Counties but it is unclear as there is nothing specific stating showings are prohibited.
Real Estate Showings/Closings:
may continue in Denver subject to the following provisions:

  • Open houses are not permitted
  • Properties must be vacant, with no one living there, unless the only occupant in the home is the owner and not a rental tenant
  • Social Distancing requirements must be followed at all times
  • All commonly-used surfaces must be wiped down and sanitized before and after the showings.

At any time that we are showing properties, we ensure that:

-Buyers have thoroughly vetted the property online, reviewed all documents and disclosures, virtual tours, and floorplans, and if possible has driven by the property ahead of time.

– All parties are required to wear masks, gloves, and booties and sign a disclosure stating that they have not knowingly been exposed to or are experiencing any symptoms of COVID-19.  Buyers are also instructed not to touch anything in the property.

– Surfaces and doorknobs are wiped down in between showings.

Of course, these rules are changing frequently and may change again.  At Colorado Landmark, we are focused on adapting each day to make sure we can serve our clients safely and effectively, no matter what is going on.  Showings are just one part of the transaction, and we have procedures in place for the entire process including virtual buyer and seller consultations, virtual tours and showings, electronic document signing, safe and virtual inspections and appraisals, and no-contact closings.

If we can help you in any way, please contact us! 

www.coloradolandmark.com

Safe Showing Update

On Sunday, April 26th, Boulder County released an update to their stay at home order, which is currently in effect until May 8th, allowing in-person showings.  (Open houses are NOT permitted.)  While we are thrilled to be able to serve our clients in this way again, we take the safety of our agents, our clients and our community very seriously.

 

Here are the steps we are taking to make sure our showings are as safe as possible:

 

Prior to approving any showings, we are asking buyers to thoroughly review photographs, virtual tours, floor plans, videos and property disclosures. and if possible, drive through the neighborhood.

 

Buyers must also be pre-approved for mortgage financing through a reputable lender, or provide proof of funds.

 

We provide a COVID-19 Disclosure and Release Agreement for both buyers and sellers to review and sign, confirming that no parties are experiencing any symptoms of COVID-19 or have knowingly been exposed.  These steps ensure that only serious buyers who are ready, willing and able to purchase the home are approved for showings.

 

Seller or listing broker will prepare the house for showing by turning the lights on, clearing paths,  opening closet doors, and removing all valuables.

 

Masks, gloves, booties, hand sanitizer and disinfectant wipes (if available) will be made available by the front door of all listings.

 

If home is occupied, the Seller is also instructed to disinfect surfaces of home after showings have taken place.

 

No overlapping showings allowed.  A maximum of three people can attend showings, and buyers should whenever possible leave children at home.  All people entering the property must wear masks, gloves and booties, leave lights on and refrain from touching anything other than doorknobs and handrails if necessary.

 

Anyone entering the property must adhere to the safe distancing guidelines, and any discussion regarding the property should take place following social distancing rules (6’ or greater) after leaving the property, or over via electronic means.

 

Together we can work to keep everyone safe while still providing our world-class service to our buyers and sellers. If you have questions about how we can help you buy or sell a home during this time, please reach out!

 

We are here for you!

 

Boulder County Updates Stay at Home Order to Allow In-Person Showings

Boulder County that has issued guidance regarding the extended Stay at Home order (which currently extends through May 8th), to allow Real Estate Showings.

Real Estate Showings: In-person real estate showings are permitted under the following conditions:

Appointment only (no open houses)
Masks required for all participants
Number of in-person participants limited to the greatest extent possible with participation by children strongly discouraged
Social Distancing Requirements are met at all times

This is great news for our buyer and seller clients who need to buy or sell during this time. Colorado Landmark has worked diligently to create safe showing protocols to protect our clients and the community, and we are thrilled that this order allows us to continue to do our jobs and serve our clients.

More information on the order can be found HERE.

For more information on the steps Colorado Landmark, Realtors is taking to ensure the safety of our clients and community, please contact us at 303-443-3377 or www.coloradolandmark.com.

Home Sales Are Still Up!

Showings are down starting in March, as you can see, due to physical distancing and safety precautions; but home sales are still up and title companies are busy!

 

We have had to become more creative in how we show and list homes. Virtual home tours have been our most effective, main creative platform.

 

Check out some of our most recent tours from CLR’s Candace Loving and 3rd Eye View Productions working with Marley Gagnon, to bring you high quality 3D virtual home tours from Matterport. If you have virtual reality goggles, you can even jump on and feel like your really in the living room or kitchen of your future home!

 


6030 Red Hill Road, Boulder

https://my.matterport.com/show/?m=ohSB8r2oc4

5 Beds | 5 Baths | 5553 Sq. Ft.

 

Listed by: Kim Thompson

303-641-2049

Kim@KimThompsonGroup.com

 


3850 Broadway Street #19, Boulder 

my.matterport.com/show/?m=EwbDki7mtA3

4 Beds | 3 Baths | 2132 Sq. Ft.

 

Listed by: Kim Thompson

303-641-2046

Kim@KimThompsonGroup.com


 

47 Chieftain Court, Lyons 

my.matterport.com/show/?m=anuZnFQobDJ 

3 Beds | 3 Baths | 2515 Sq. Ft.

 

Listed by: Joni Renee

720-365-7302

Joni@JoniReneeRealty.com

 


745 Highland Avenue, Boulder 

my.matterport.com/show/?m=NjHHgGAD28t&brand=0

5 Beds | 5 Baths | 4518 Sq. Ft.

 

Listed by: Candace Loving 

303-332-4530

CandaceLoving@gmail.com

 

 


 

What does the “Stay at Home” order mean for Boulder-area real estate?

On the evening of March 23, 2020, the City of Boulder issued emergency “Stay at Home” orders for individuals in the city.

It requires all individuals to stay at their place of residence, and that they are only allowed to leave their residences for specific approved “Essential Activities” (Things like grocery shopping, obtaining medical care or medicine, outdoor activities while practicing social distancing), “Essential Governmental Functions and Infrastructure”, and “Essential Businesses”.

(This is a VERY short summary, here is the link to the full order:
https://bouldercolorado.gov/city-emergency-orders-related-to-covid-19)

UPDATED 3/25/2020:  Boulder County has followed suit and has also issued a “Stay at Home Order” – the link to that order is here:  https://www.bouldercounty.org/families/disease/covid-19/stay-at-home-order/

Real Estate is listed as an “Essential Business” in Section 6.f.24: “Professional services such as legal, insurance, accounting, real estate and tax preparation services, including ancillary and supporting services.”

Colorado Landmark, Realtors has been diligently working to ensure the safety of our agents, clients and the community by establishing stringent practices for showing homes, and working with our lenders, title partners, inspectors and appraisers to ensure that all health and safety precautions are taken during this challenging time.

We also understand that even in times of uncertainty and crisis, people need to buy or sell their homes, so we are working to ensure that our clients are able to do so – through new marketing technology, virtual tours and virtual open houses, video buyer/seller consultations, and electronic document sharing and signing.

If you have questions about your specific situation, please reach out to your Colorado Landmark agent, or visit us at www.coloradolandmark.com.

Friday’s Featured Listing-6590 Lakeview Road, Boulder, CO

FRIDAY’S FEATURED LISTING

STUNNING CONTEMPORARY MASTERPIECE

6590 LAKEVIEW ROAD, BOULDER, CO, 80303

3 Beds / 2 Baths

Price: $4,125,000 USD

Square Feet: 2,927

Listed By: Meghan Bach – 619-955-2788

Colorado Landmark, Realtors

Take A Tour

This is quintessential Boulder, outperforming in every facet. Stunning contemporary masterpiece perched on a full acre. Endless wow views synergistically converge with exceptional Craftsmanship, Architecture and Design. An avatar of Efficiency, Sustainability and Automation. Shimmering lake, verdant Foothills and graceful Flatirons embrace us at every turn in this high IQ, NetZero home. Symbiotic outdoors-in floor plan engaging every square foot. Retreat to your private dry sauna and steam spa then soak in the sunrise and sunset views on the deck.

PROPERTY FEATURES INCLUDE: 1 Fireplace(s), security system, music system, attached, 3 space garage, carport, central air conditioning, forced air, hot water, multi-zoned heat, radiant heat, electric air filter

INTERIOR FEATURES INCLUDE: Solar domestic hot water, solar hot water heat, southern exposure, high efficiency furnace, solar pv owned, sauna, wet bar, kitchen island, media room, steam shower

Friday’s Featured Listing – 927 Rocky Ridge Circle, Erie, CO

DELUXE MODERN FAMILY HOME

927 ROCKY RIDGE CIRCLE, ERIE, CO, 80516

3 Beds / 4 Baths

$625,000

MLS # 863117

Listing Agent: Brett Sawyer – 303-517-4147

Colorado Landmark, Realtors

View IRES MLS Sheet

Here is your opportunity to own the nicest floor plan in Flatiron Meadows. Newer ranch model with over $130,000 in upgrades, including a fully-finished basement. Relish the rich wood on the main floor, and a deluxe kitchen that would make the pickiest chef envious. Just down the street is the acclaimed BVSD Meadowlark K-8 school. Quick commute to Boulder or Denver; and after work you can enjoy great restaurants in Old Town Erie, or explore the many nearby recreation trails. 

ABOUT ERIE: Although rural in nature, Erie has seen a recent surge in new families, homes and businesses. With its proximity to both Denver and Boulder, the town provides an affordable middle ground for people working in either city. It’s also close to the Broomfield area’s high-tech corridor as well as the conveniences and cultural activities of neighboring LafayetteLouisville and Longmont. While in town, enjoy an amble down Briggs Street for a glimpse of historic downtown Erie and some of the best restaurants in town. If you like golfing head to the new championship golf course, Vista Ridge. The course, like the community, offers sweeping views of the Front Range during all 340 days of sunlight a year. 

 

Friday’s Featured Listing – 9665 Avocet Lane, Lafayette, CO

EXQUISITE COUNTRY WATERFRONT ESTATE

9665 AVOCET LANE, LAFAYETTE, CO, 80026

4 Beds / 6 Baths

$2,790,000

IRES MLS #863769

Listed By: Steve Remmert – 720-339-5033

Colorado Landmark, Realtors

View IRES MLS Sheet

View Full Info and Photos on Luxury Portfolio

Exquisite country waterfront estate on a picturesque tree-lined street with breathtaking mountain views backing to open space and a spring-fed recreational pond, this is truly one of the best locations in Boulder County.

The serene setting is complemented by the incredible home with luxury updates, walls of windows and gorgeous natural light. Roast marshmallows by the fire pit, paddleboard from your backyard or entertain in the special tricked out party barn that is perfect for every occasion.

Special Features you can find only at this property include a spring-fed recreational pond with great fishing, your own personal dock perfect for a small boat or paddleboarding, circular driveway, designer carpet, custom windows, custom built-in cabinets throughout, subzero wine fridge, surround sound speakers, reading nook in the master bedroom, master bathroom suite with jetted tub, skylights, and even an elevator in the mudroom, yes, an elevator!

The party barn in the back comes with kegerator, full bar, surround sound speakers, fire pit, and more! 

PROPERTY FEATURES INCLUDE: 3 Fireplaces, security system, separate guest quarters, attached 3 car garage, garage and street parking, room air conditioner, evaporative cooler, ceiling fan, forced air, radiant heat, eat-in kitchen with island and pantry, separate dining room, vaulted ceilings, open floor plan, workshop, wood floors, wet bar, loft, walk-in closet, media room, luxury master suite, tricked out “party barn” in the back complete with full bar, surround sound speakers, and fire pit perfect for entertaining guests before paddle boarding across the beautiful blue lake, private boat dock, chicken coop, and fenced dog run.

HOA fee includes trash, snow removal, and common utilities.