|||||||||||||||||| UPDATE April 2012 |||||||||||||||||||||||||||||||||
Hope things turned out well for you Elizabeth. I'll get to your question momentarily.
I noticed that your address is Boulder, yet you chose to ask this question of agents in the 80504 zip code, which includes a sizable area from north Longmont stretching to Highway 119 on the south and east to Firestone and Frederick. The area spans a corridor straddling Boulder County and Weld County, and is a few miles outside of the city of Boulder - about 15 miles outside.
This is an interesting area, which has had some key developments. At one time, the Lifebridge Church was seeking annexation to Longmont for a piece of land between Longmont and Firestone. A Super Walmart was built on Highway 119. Over the past decade, Firestone has been successful attracting familiar brands to the Interstate 25 area. Two builders who have navigated a deep recession with flying colors - namely DR Horton and Richmond American Homes - have been steadily building communities here.
The area appears destined for further growth, too. What that will mean for home prices is another matter. What we're seeing in the first months of 2012 is encouraging.
None of the good news can happen fast enough if you're paying on a mortgage for a home that dropped some 20 percent in value. Who knows when Phillips66 will open its doors in Louisville? With no plans on file still, it can seem very far off.
However, the market changed this year owing largely to the fact there is little inventory in Boulder County. The surge in building permits is a good sign. And, the activity of the past three months is another good sign.
When an individual seller approaches us, we talk about what is happening in the market in a neighborhood right now, not five years from now. Right now, there is a lot of activity for homes in the 200-range. Talk to a Realtor. We can give you an analysis of the market in your neighborhood based on what has sold in the past year (or two).
Best to you,
PML of Longmont