*1st Quarter (SOURCE: IRES, LLC)
In the long term, I have confidence in near-downtown home values moving steadily upward for two reasons.
One, I doubt that any area of Loveland has seen as many "makeovers" as the downtown area, which has greatly enhanced the marketability and value of older homes.
And two, it will be a primary target in the coming decade for baby boomers looking to downsize -- people who appreciate the charm of tree-lined streets, unique architecture and proximity to restaurants, taverns, galleries and independent shops.
Loveland is a Valentine's favorite if you're going to mail a love letter.
Loveland and Colorado have become a mecca for those who have to express themselves. The Loveland Arts Council will host the 17th annual Art Show in Nisbet Park on Sunday, September 8th.
There was more than talk about NASA lending expertise to smaller companies at what would be something akin to an incubator for aerospace and high companies, but Loveland wanted to focus on larger companies. So a partnership with NASA dissolved before anything happened.
It is safe to say that great things will happen for Loveland. Loveland has all the elements of an attractive city. It has a good economy, an airport and more. Besides its gorgeous setting, Loveland is lovable for its lifestyle, too. Loveland affords many recreation and entertainment opportunities making it No. 33 on Money magazine's 2010 list of 100 Great Places to Live.
So, about real estate:
Prices have been heading up as they have elsewhere in Northern Colorado and along the Front Range. MSN.com names the Denver-Aurora-Broomfield area as a place where renters should buy now. Economists expect home prices to climb at a brisk pace in five cities that include San Francisco, Portland and Washington, D.C.
Is there a reason Fort Collins and Loveland should not be on that list? The Northern Colorado Business Report: Median home prices in Greeley and Evans continued their dramatic upward swing in June, increasing by 17.4 percent year-over-year to $176,950, according to the latest data from Information and Real Estate Services (July 2013).
So, Bonnie if you're still watching this page, your question has been answered. Prices have appreciated a great deal. About the future? I only know what I read in the press.
Now - the market is appreciating very quickly. And I have noticed a definite improvement in downtown Loveland. One of my first time home buying clients purchased an REO a few years back - small cute 2 bedroom 1 bath for 89K. They have worked on fixing it up and we just sold it for 130K last fall.
I also noticed another home that was purchased for 109K a couple years ago in old downtown Loveland and it was just listed for 145K and is under contract. The entire market is improving dramatically - in downtown as well as other areas of Loveland. Of course - downtown older homes typically have a lot more character than the newer neighborhoods and there will always be a portion of the buyers that will insist on having that character.
The ACE park, which spun out of an agreement between CAMT and NASA, originally was slated for the former Agilent Technologies campus in Loveland. The idea was to attract companies in the aerospace and clean energy industries and, with NASA's assistance, help them bring their products to market faster.
Loveland officials said the former Agilent campus would be developed as the Rocky Mountain Center for Innovation and Technology, which will be dedicated to developing a manufacturing base beyond just the aerospace and clean energy industries.
CAMT and NASA are actively engaging Colorado companies. Lifeloc Technologies recently signed an agreement that will accelerate the process of moving tech from R&D to commercialization. Lifeloc is based in Wheat Ridge.
Longmont as well as other Front Range cities did compete for the center, which is still looking for a home. The official word is Loveland ultimately was not a good fit. Loveland developers apparently will focus on a smaller set of tenants, fewer than NASA and CAMT apparently believed was in line with their goals.
The eventual landing place is something Loveland should keep an eye on. If Longmont is the place, it could still affect Loveland. The region's high tech is on the march and will need more facilities.
Greg & Nancy Colley
As the foreclosure market gains steam, and we ecomomy slips further into recession, the smart buyers are investing in the more established areas, and avoiding the transitional areas that may be in decline.
The Downtown Loveland area has more potential than other areas, but it is still a gamble. I'd look at the North Loveland Market, which is driven in part by the growth of Fort Collins, There is newer construction available for less than it cost to build the home!
Whatever you do, use an agent- it costs you nothing and you could save thousands!