You're not alone if you're concerned about buying into today's market. Across the country, we are seeing housing prices much like 2006, but there are four key metrics that explain why this market is quite different than 12 years ago.
1. Home Prices
2. Mortgage Standards
3. Mortgage Debt
4. Housing Affordability
HOME PRICES
Yes, they are high, but if you account for inflation, after more than a decade, values should be much higher. Chief Economist for
CoreLogic, Frank Nothaft, explains it like this,
“Even though CoreLogic’s national home price index got to the same level it was at the prior peak in April of 2006, once you account for inflation over the ensuing 11.5 years, values are still about 18% below where they were.”
MORTGAGE STANDARDS
Some folks are concerned that lending standards are easing, which was a big contributor to the 2006 housing bubble. However, according to the
Urban Institutes Housing Credit Availability Index (HCAI), the riskiest loan products have been eliminated and lending standards are much tighter on a borrower's credit situation.
MORTGAGE DEBT
In 2006, many homeowners continued to withdraw from home equity and spend it without concern for ramifications. That is not occurring in today's market. The Federal Reserve Board's household Debt Service Ratio for mortgages calculates mortgage debt as a percentage of disposable personal income.
At the height of the 2006 bubble market, the ratio stood at 7.21%, today, the ratio is at 4.48%. This is the lowest in 38 years!
HOUSING AFFORDABILITY
Lastly, with home prices and mortgage rates on the rise, there is concern that homeownership may not be feasible for many buyers. From a National perspective though, the Housing Affordability Index shows that
homes are more affordable now than an other time since 1985 (with the exception of after the 2008 crash).
BUT WHAT ABOUT COLORADO AND BOULDER COUNTY?
Here in Colorado and specifically Boulder County, it may not seem that we are aligned with National averages. However, according to Mark Fleming, Chief Economist at First American Financial Corporation, Boulder County homes are still more affordable than they have been in anytime over the last 40 years, and Longmont leads the pack! If you missed it, Kyle Snyder of First American Title, along with First American Financial Corp and the Longmont Association of Realtors released the Annual Longmont Affordabilty Review at the end of March.
Read the full review here: http://bit.ly/2GbH8LO
No matter the market, deciding to buy a home is one of the biggest decisions of a lifetime. Our team takes the time to educate our buyers on the local market and can help unravel the questions and concerns that come along with buying a home. Give us a call at 303-776-4004 or send us an email at
homes@justlistedcolo.com - we'd love to help YOU!
Photo Credit: Longmont Times Call, Russell Sample, 5, paints a picture during ArtWalk in downtown Longmont
Closures as follows:
Main Street will be closed between Third and Longs Peak avenues between 3 and 9 p.m.
Southbound traffic will detour at Ninth Avenue and northbound traffic at Third Avenue.
Also, Fourth Avenue will be closed from Main Street to the alley east of Main from 1:30 to 9 p.m., and from Main west to Coffman Street from 3 to 9 p.m.
Fifth Avenue is to be closed from Main to the alley to the east from 2 to 9 p.m., and from Main Street to the alley west from 2 to 9 p.m.
Visit http://artwalklongmont.org/ for more information!
Photo Credit: 
3. Take a hike
Add purpose by hunting for wildflowers (no picking!), looking for animal signs, sketching, a scavenger hunt (but just a photo scavenger hunt - everything needs to stay in its RMNP home:)
4. Go Camping
5. Attend a Family Ranger Program
6. Go Fishing!!
7. Paddle a Canoe
8. Walk on the Tundra
9. Have a picnic
10. In the winter, there's a wonderful sledding area at the 
Photo Credit: Left to Right, LadyFreeThinker.org, GirlTalk HQ, International Anti-Poaching Foundation
Part of the Lower Zambezi Valley in Zimbabwe is a former trophy hunting reserve and, sadly, many of the animals are still threatened by poachers.
These women, unafraid of who they may encounter, are often arresting local poachers that could be their neighbor or live in a nearby village. But, their focus is on their animals and duty to protect them so they won't disappear forever.
These women are changing the face of conservation forever.
Image Credit: City of Longmont 2017 Water Quality Report
The State-certified City of Longmont Water Quality Laboratory, performs many of the tests on your drinking water. Contract labs are also used for tests that the Water Quality Laboratory does not do in-house. 10,206 tests were performed on the City’s drinking water last year, 9186 of which were performed by the City’s Water Quality Laboratory. These tests ensure that the water delivered to your tap meets or exceeds the standards set by the EPA and the Colorado Department of Public Health and Environment (CDPHE).
Last year, as in years past, our tap water met all EPA and State drinking water health standards.
We're proud to live in a city that safeguards our water to such a high standard!
Conveniently located in sought-after Parkview at Quail Ridge, it's an easy commute down HWY287 to Boulder/Louisville/Broomfield.
Parkview at Quail Ridge is close to Old Town Main Street restaurants and breweries, connected to the community by walking/bike paths, close to shopping and Longmont's Recreation Center.
This is a great starter home, low maintenance lock-and-go home, or an investment property. It's priced just right at $310,000.
Send an email if you'd like to set up a showing 
The #LoCo21DayChallenge is hinged on the notion that it takes 21 days to instill a habit and asks participants to make a personal commitment to create a new habit to reduce waste and decrease our individual environmental impacts.
Learn more about the challenge and sign up for the opportunity to win prizes and be part of the greater good!
Image Credit PARK CHAMPIONS // 02 // Rocky Mountain National Park from Compass Coalition on Vimeo
Image Credit PARK CHAMPIONS // 02 // Rocky Mountain National Park from Compass Coalition on Vimeo
Photo Credits: Michael Hodges, Jim Osterberg © 2012 RockyMountainNationalPark.com
Photo Credits: Grand Lake Chamber of Commerce
