How Long Have The Columbine Neighbors Been Your Neighbors?

 

Geographic mobility and stability – the tendency of residents to stay in one area or to move frequently – varies from neighborhood to neighborhood for any number of reasons. According to city-data.com, average neighborhood stability – the tendency of residents to live in the same place for over one year – in our Pulse sites is about 80%, meaning, about eight out of ten stay put for over twelve months.

 

So does that mean that neighborhoods with lower geographic stability, or higher mobility are less desirable than others? Not at all. For example, in neighborhoods like Columbine, whose geographic mobility is at 79%, one finds a combination of homeowners who have been here Forever, since time began, and renters, who flux. Mobile renters have a number of characteristics – they can be students or visiting faculty at a university, on temporary assignment at prestigious corporations or research institutes, or simply “testing out” a neighborhood in a new city while deciding where to buy. In fact, renters can move from house to house in the same neighborhood each year before buying in.

 

What is more important is how neighbors – long and short term – bond to create a real “hood” for safety, security, and just plain neighborliness. Research shows that strong communities with shared events – picnics, school events, or whatever – are the most desirable ones for prospective buyers. And even if the renter next door that you come to love leaves, there’s always social media for staying in touch.

How Long Have The Chautauqua Neighbors Been Your Neighbors?

 

Geographic mobility and stability – the tendency of residents to stay in one area or to move frequently – varies from neighborhood to neighborhood for any number of reasons. According to city-data.com, average neighborhood stability – the tendency of residents to live in the same place for over one year – in our Pulse sites is about 80%, meaning, about eight out of ten stay put for over twelve months.

 

So does that mean that neighborhoods with lower geographic stability, or higher mobility are less desirable than others? Not at all. For example, in neighborhoods like Chautauqua, whose geographic mobility is at 68%, one finds a combination of homeowners who have been here Forever, since time began, and renters, who flux. Mobile renters have a number of characteristics – they can be students or visiting faculty at a university, on temporary assignment at prestigious corporations or research institutes, or simply “testing out” a neighborhood in a new city while deciding where to buy. In fact, renters can move from house to house in the same neighborhood each year before buying in.

 

What is more important is how neighbors – long and short term – bond to create a real “hood” for safety, security, and just plain neighborliness. Research shows that strong communities with shared events – picnics, school events, or whatever – are the most desirable ones for prospective buyers. And even if the renter next door that you come to love leaves, there’s always social media for staying in touch.

How Long Have The Baseline Neighbors Been Your Neighbors?

 

Geographic mobility and stability – the tendency of residents to stay in one area or to move frequently – varies from neighborhood to neighborhood for any number of reasons. According to city-data.com, average neighborhood stability – the tendency of residents to live in the same place for over one year – in our Pulse sites is about 80%, meaning, about eight out of ten stay put for over twelve months.

 

So does that mean that neighborhoods with lower geographic stability, or higher mobility are less desirable than others? Not at all. For example, in neighborhoods like Baseline, whose geographic mobility is at 74%, one finds a combination of homeowners who have been here Forever, since time began, and renters, who flux. Mobile renters have a number of characteristics – they can be students or visiting faculty at a university, on temporary assignment at prestigious corporations or research institutes, or simply “testing out” a neighborhood in a new city while deciding where to buy. In fact, renters can move from house to house in the same neighborhood each year before buying in.

 

What is more important is how neighbors – long and short term – bond to create a real “hood” for safety, security, and just plain neighborliness. Research shows that strong communities with shared events – picnics, school events, or whatever – are the most desirable ones for prospective buyers. And even if the renter next door that you come to love leaves, there’s always social media for staying in touch.

How Long Have The Martin Acres Neighbors Been Your Neighbors?

 

Geographic mobility and stability – the tendency of residents to stay in one area or to move frequently – varies from neighborhood to neighborhood for any number of reasons. According to city-data.com, average neighborhood stability – the tendency of residents to live in the same place for over one year – in our Pulse sites is about 80%, meaning, about eight out of ten stay put for over twelve months.

 

So does that mean that neighborhoods with lower geographic stability, or higher mobility are less desirable than others? Not at all. For example, in neighborhoods like Martin Acres, whose geographic mobility is at 65%, one finds a combination of homeowners who have been here Forever, since time began, and renters, who flux. Mobile renters have a number of characteristics – they can be students or visiting faculty at a university, on temporary assignment at prestigious corporations or research institutes, or simply “testing out” a neighborhood in a new city while deciding where to buy. In fact, renters can move from house to house in the same neighborhood each year before buying in.

 

What is more important is how neighbors – long and short term – bond to create a real “hood” for safety, security, and just plain neighborliness. Research shows that strong communities with shared events – picnics, school events, or whatever – are the most desirable ones for prospective buyers. And even if the renter next door that you come to love leaves, there’s always social media for staying in touch.

Time for Millennials to Get in the Game

The market posted better numbers than expected in September, perhaps the start of a strong finish for 2014. Overall, we continued the slow transition to a “no drama” market. The window for first-time buyers to join the ranks of homeowners, and thereby change the trajectory of their life, remains wide open. More on the benefits of home ownership after a quick look at the data.
 
The volume of real estate sold across all Front Range markets in September of 2014 was 8.9% higher than September of 2013. The inventory of homes for sale increased to 2.3 months, continuing the glacial return to a more balanced inventory level of 5 to 7 months.    
In Boulder County, sales volume increased 11.9% on a year-over-year basis in September. The supply of available homes in Boulder County increased to 3.2 months.
 
salesvolumefrontrangeOCT2014The trend of increasing inventory is giving buyers a few more choices and just a bit more leverage to negotiate price this autumn. Many first-time buyers are seizing the opportunity and becoming homeowners. That said, an even greater number appear to be sitting on the sidelines, scared away by tales of not being able to secure a mortgage, or still jaded by the housing downturn and waiting for another price correction. And waiting could prove to be a mistake for the Millennials, the generation aged 18 to 33. Why a mistake? Because those who choose the path of homeownership are putting themselves on a fundamentally different trajectory in life than those who choose to remain renters.
 
A survey of Consumer Finances conducted by the Federal Reserve every three years was updated in September. Some of the findings revealed in the report:
 

  • The average homeowner has a net worth of $194,500
  • The average net worth of a renter is $5,400
  • A homeowner’s net worth is over 36 times greater than that of a renter
It’s important to note that the survey results include any drop in net worth due the housing correction of 2006. However, those who are skeptical might argue that the logic of this survey is somewhat circular, in that those who can afford to purchase a home are not surprisingly going to have a higher net worth. 
The counter to this argument is that the average American family, including both homeowners and renters, has a net worth of $81,200, and of that net worth, 61.4%, is in home equity. Conclusion: those who can scrape together a down payment (through savings, an assistance program, help from family, or all of the above) and make a purchase will start building their net worth, and those who remain renters will be shut out of that “61.4%” in upside potential.
This may not be the perfect time for Millennials, or anyone else for that matter, to buy, but it’s also clearly not a bad time to buy. Timing the market is difficult, if not impossible. The great news is that in real estate, markets move slow and as a result, you don’t need to have perfect timing. You just need to get in the game. When we look back a decade or two from now, we’ll probably find that the first-time buyers who got in the game during the housing recovery and low interest rates of this period set themselves up pretty well. The American dream of homeownership is alive and well, and still provides a path to prosperity.

Weekly Snapshot: Historic Boulder Oct. 16 – 22

BoulderSnapshot

 

Owning a home is one of the most important financial investments of your life. The more you know about how real estate works in Historic Boulder, the better off your investment will be.

 

We’re here to show you the latest changes in the neighborhood: new listings, solds and open houses. Join us each week for the scoop in Mapleton and Whittier!

 

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910 Portland Pl #25

$350,000 | 2 beds | 2 baths | 830 sq ft | Condo/Townhome in Mapleton

 

1850 Folsom St #203

$275,000 | 1 beds | 1 baths | 801 sq ft | Condo/Townhome in Whittier

 

1850 Folsom St #204

$224,900 | 1 beds | 1 baths | 801 sq ft | Condo/Townhome in Whittier

 

 

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No homes sold this week.

 

If you have any questions or are curious about your home’s value, we can help! Reach us at 303-543-3083 or clientcare@8z.com.

 

Follow Historic Boulder Pulse on Facebook

 

Weekly Snapshot: Goss Grove Oct. 16 – 22

BoulderSnapshot

 

Owning a home is one of the most important financial investments of your life. The more you know about how real estate works in Goss Grove, the better off your investment will be.

 

We’re here to show you the latest changes in the neighborhood: new listings, solds and open houses. Join us each week for the scoop in Goss Grove!

 

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There were no new listings this week.

 

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No homes sold this week.

 

Have questions about any of these properties or curious about your home’s value? We can help! Reach us at 303-543-3083 or clientcare@8z.com.

 

Follow Goss Grove Pulse on Facebook!

 

Weekly Snapshot: Flatirons Oct. 16 – 22

BoulderSnapshot

 

Owning a home is one of the most important financial investments of your life. The more you know about how real estate works in Boulder’s Flatirons neighborhood, the better off your investment will be.

 

We’re here to show you the latest changes in the neighborhood: new listings, solds and open houses. Join us each week for the scoop in Flatirons!

 

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There were no new listings this week.

 

 

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No homes sold this week.

 

 

Have questions about any of these properties or curious about your home’s value? We can help! Reach us at 303-543-3083 or clientcare@8z.com.

 

Follow Flatirons Pulse on Facebook!

 

Weekly Snapshot: Chautauqua Oct. 16 – 22

BoulderSnapshot

 

Owning a home is one of the most important financial investments of your life. The more you know about how real estate works in Chautauqua, the better off your investment will be.

 

We’re here to show you the latest changes in the neighborhood: new listings, solds and open houses. Join us each week for the scoop in Chautauqua!

 

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There were no new listings this week.

 

 

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No homes sold this week.

 

If you have questions any questions or are curious about your home’s value, we can help! Reach us at 303-543-3083 or clientcare@8z.com.

 

Follow Chautauqua Pulse on Facebook

Weekly Snapshot: Uni Hill Oct. 16 – 22

BoulderSnapshot

 

Owning a home is one of the most important financial investments of your life. The more you know about how real estate works in University Hill, the better off your investment will be.

 

We’re here to show you the latest changes in the neighborhood: new listings, solds and open houses. Join us each week for the scoop in UniHill!

 

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There were no new listings this week.

 

 

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No homes sold this week.

 

 

Have questions about any of these properties or curious about your home’s value? We can help! Reach us at 303-543-3083 or clientcare@8z.com.

 

Follow Uni Hill Pulse on Facebook!