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Housing Prices near Boulder CO

Housing prices in Louisville, Superior, and Part of Broomfield CO are up about 15% more than in 2007.  However, homes in these areas still seem to be going in about a day.  Any home that stays on the market longer than 3-4 days is questionable.  Although interest rates are still low, I question whether buying at such an extremely high home price (about 50K more for a home in my price range than compared to a 2007 price) is reasonable?  I'm rather afraid that if I buy a home now it will inevitably lose 20-30K in value over the next several years.  Is buying a home in a city that has prices much exceeding their previous peak a bad idea? 
  • April 07 2014 - Broomfield
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Answers (6)

Profile picture for user0848735
Many thanks to everyone that chimed in.  I really appreciate the advice.  

I am considering Erie as a location to buy and the prices do seem more reasonable.  Thanks for the comment. 

:)
Jason
  • April 08 2014
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Profile picture for davidhawke
I agree that Denver is a destination city, and we are in for a few more years of appreciation. I noticed that you didn't mention Erie on your list of Boulder suburbs. West Erie (boulder county) is a bargain compared to Louisville, and it is super hot right now too. It's very affluent, and is poised to appreciate like crazy. If I were you, I'd be looking in Erie.
  • April 08 2014
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Profile picture for user7314833
The Denver area is number 4 on the list that people are migrating to from other states. It has no signs of letting up. The market is only going to be more saturated with people moving here which is going to limit the homes available and the prices will go up.
  • April 08 2014
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Profile picture for John Steeby
Real Estate is local.  So first of all, I suggest getting with a local agent or two and talking to them about your market.

Secondly, fundamentally real estate is an investment, and like any investment past performance offers no surety of future performance. There is risk.

Run your numbers, makes an educated decision.

Best of luck!
  • April 08 2014
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There's never a safe time to buy, x735. The future is always uncertain, and we'd all wish we could go back in time for one thing or another.
  • April 07 2014
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Profile picture for Dan Tabit
Prices are rising due to lack of inventory, pent up demand, low interest rates just to name a few things.  The factors which lead to the crash after 2007 are no where in sight.  Lenders are far more conservative, builders are also more careful and the reality of the crash is still present in most peoples mind. 
Buyers last year are grateful they didn't wait and next year could be the same. I don't know your market or some of the local economic factors you should consider, but your local agents do. 
No one can guarantee we won't have another correction, but if you plan to own for the medium to long term and don't treat your home equity like a piggy bank, you may consider buying now a good idea. 
  • April 07 2014
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