Welcome

Thanks for visiting our website.  We are truly working on making this site an informative place where you can learn all that you will want to know about Life in East County.  Or better said life in Erie, Lafayette, Louisville and Superior, Colorado – The Coal Creek Watershed. 

So what does that mean?  Well as we have learned real estate is a fairly comprehensive concept.  The basic idea of real estate is land, houses and buildings; however, the broader aspect is location, community and demographics.  When one makes a real estate purchase they are buying much more than a place to eat and sleep or have a business.  They are joining a community and making a contentious choice of where they want to live, work and play.

Based on this - our intention is to create sight that will offer you information about your home, your neighborhood and your community.  We will provide neighborhood statistical information, neighborhood characteristics and neighborhood geographic significance. We will write about great up coming community events and activities.  We'll have a section on interesting community members and what they are doing to make our communities special. 

We also will try to make it interesting with guest articles, links to other community resources, YouTube video and interesting polls so you can see how others in your community think.

So thanks for stopping in and please come back again soon.  Each time you visit I am sure you will find something interesting to read or view.  And if you don't let us know - we certainly will do our best to keep this site fresh.

Regards -

Ted@CoalCreekBrokers.com

Through 3Q2011

The theme of our last report was geared toward providing good news in a bad news world and emphasizing a true low supply in our highest demand product – homes in the $200k-$350K price range.  This report’s theme is rising tides lifts all boats.  And just as the numbers are showing a stronger market, my phone ringing a few extra times a week also seems to reflect that as well.

With sales of the under $500k market getting closer to 70% of the total market, paired with an average sale price growth over the past two years, we now have two strong indicators that our market is becoming comprehensively more healthy.  On a volume basis, we also saw an uptick in sales this past quarter in every sector of the market.  Numbers across product types and price points sold more than 3Q2010 and comparable to 2Q11, traditionally our best quarter.  Additionally we continue to see new build growth in Coal Creek, Silver Creek, Indian Peaks and few infill construction projects in Old Town. 

On the year to date numbers (YTD), we are seeing signs of market recuperation, while at mid-year we were closer to half the number of sales, now we are closer to two-thirds.  And while in 2006, we had $32 million in total sales, we are at $29 million this year.  

As I have communicated in the past, our real estate market is not like the rest of the country.   While we have all felt the effects of the economy in our own lives, we have roughly held value and are now seeing growth.  In 2008, our 3Q average sales price bottomed out at roughly $320K, but since we have seen a 12% growth with 3Q11 average sales price of $367k.  While this number oscillates quarter over quarter it’s certainly trending upward with reliable consistency.

 I really hope that you take some comfort in knowing that for the most part our tides have been relatively smooth and now appear to be rising.   In certain neighborhoods, they’re rising agressively.  So if you or someone you know is interested to learn more about a specific neighborhood market – please don’t hesitate to contact me, I am certain you’ll find it helpful.

Indian Peaks West (3Q2011)

       Indian Peaks West (IPW) is situated at on the Northwest corner of 95^th and Arapahoe.  This neighborhood consisting of roughly 200 single family homes and 30 attached dwelling townhomes was constructed between 2002 -2004.  The developer and dominate builder was McStain Homes; however, there was a small section of homes in its center that were privately constructed by custom home builders on Shoshone Trail and Skywalker Point.  While the McStain products are nice homes ranging from 3 beds and 2.5 bath, 1,500 finished to 5 and 5, 4,500 finished.  The custom built homes tend to be larger and to the next level of high end finishes.  In fact, Shoshone and Skywalker house some the nicest houses in East Boulder County if not the nicest.

      IPW is new urbanism style development where the lots are traditionally smaller and neighborhood amenities grander.  Sidewalks and trails abound and corner pocket parks can be found throughout – 6 in total.  IPW like Lafayette is in the Boulder Valley School District; however, it’s elementary and middle school placement is Boulder’s Douglas and Nevin Platt respectively.   With award winning Indian Peaks Golf Course fingered throughout, many of the homes offer amazing views of the Continental Divide.  As for shopping and dining, the location is one of the best in the area.  With short, easy access to Old Town Louisville and Old Town Lafayette plus short drives to Broomfield’s Flatirons Mall, Boulder’s 29^th Street and Pearl Street Malls.  You would be hard pressed to find a better place to call home.

Indian Peaks West Market

      It’s a great time to buy IPW, particularly in the larger, upper end market.  On the contrary, the starter homes are selling much quicker and at per sqft premium.  Homes priced under $500k are seeing an average days on Market at 58 days while the neighborhood as whole is closer to 100 days after the elimination of outliers.  The sqft numbers average around $150 per – regardless of the product.  As typical to market as a whole – higher end finishes are not garnering the higher per sqft pricing you typically see.  Currently, there are 7 homes on the market IPW ranging from $349,900 for 3 beds, 2.5 baths and 2,000 ttl sqft to $975,000 for 5 beds, 4.5 baths and 5,800 sqft.