RE/MAX Elevate Calls Louisville Home

Why Louisville and why now?

Those are the questions RE/MAX Elevate, the sister franchise of RE/MAX of Boulder, had to answer when deciding whether to put roots down there with its first office. And the answers came easy. Louisville is to many the unofficial “Capital” of East Boulder County. Business booms there, school are great, families love it, and it’s been recognized numerous times in the national media as one of the safest and best places to live in the nation (Money Magazine’s “Best Places to Live” in 2009, 2011, 2013, 2015, and 2017, one of the “20 Safest Places to Live in Colorado” by Elite Personal Finance, and among the “10 Best Towns for Families in the U.S.” by Family Circle Magazine). Louisville is a great little city. In fact, 78 percent of respondents to a citizen survey rated Louisville as an “excellent” place to live.

So it was with much excitement that RE/MAX Elevate planted its flag at 724 Main Street and had its grand opening on May 1. The public was invited to enjoy a ribbon cutting ceremony with Shelley Angell, executive director of the Louisville Chamber of Commerce, live music by Louisville musician Johnny O., wine and sangria tasting with local Decadent Saint winery thanks to Premier Lending LLC, small bites by local Wildcraft Kitchen, desserts from Bittersweet Café & Confections, and flower arrangements donated by Red Door Flowers. RE/MAX Elevate thanks the sponsors and vendors who made it such a special day in Louisville.

It is with much excitement that RE/MAX Elevate planted its flag at 724 Main Street in Louisville and had its grand opening on May 1. (Photo: Jonathan Castner)


RE/MAX Elevate Broker/Owner Jay Kalinski. “It’s an ideal place to live and do business with a great quality of life. We Heart Louisville. That’s the sentiment you’ll see on t-shirts and stickers for RE/MAX Elevate.”

Jay says that for those who want a little more space to live in, along with the beauty and amenities of Boulder County, Louisville is a remarkably attractive choice.

Lest our readers think this is a case of a national “chain” without ties to the community setting up shop in a hot market, a brief history lesson is helpful.

RE/MAX of Boulder was founded 42 years ago in Boulder by Tom Kalinski. At the time it opened for business, it was only the third RE/MAX franchise in the United States. RE/MAX of Boulder has been the No. 1 company in Boulder Valley home sales for more than 30 of its 42 years and the No. 1 single RE/MAX office in the U.S. 8 times. The company has more than 100 award-winning Realtors who are among the best in the nation, averaging more than 15 years of experience. They are seasoned experts with the utmost dedication to clients, going far beyond the extra mile to help them navigate an often challenging market. Jay became Co-Owner of RE/MAX of Boulder in 2012 and helped further expand the company to where it is today, serving as Broker/Owner for several years.

While Jay remains co-owner of RE/MAX of Boulder, he has turned Broker duties back over to Tom, so he can focus on expanding RE/MAX Elevate. Jay is a Boulder native, CU-Boulder alumnus, and Tom’s son. Jay, a lawyer and military veteran, says, “We’re thrilled to introduce RE/MAX Elevate to Louisville, where many of our founding real estate agents – and their families – live, work, and go to school, and where our clients are selling or searching for homes. We are rooted in the community.”

Jay has been a licensed broker for 10 years and a licensed attorney for 14 years having worked at several prominent law firms and serving 4 ½ years on active duty as an Air Force JAG officer. “We are committed to the city of Louisville, East Boulder County, Broomfield, and beyond,” Jay says. “And as a small local veteran-owned business, we are excited to be actively involved in the local entrepreneurial community and with nonprofits and community organizations and to support the vitality and wellbeing of the community.”

Manager Tammy Milano with Broker/Owner Jay Kalinski

Realtors in both offices have donated gift baskets from Louisville businesses for a free drawing, which kicked off during the grand opening party. Drop by any day during business hours in May to enter. Tickets will be drawn and winners announced during the Taste of Louisville on June 1. And to celebrate the opening of the new office, RE/MAX Elevate is sponsoring the Louisville Public Library’s Summer Reading Program. RE/MAX Elevate along with RE/MAX of Boulder are giving back to the community by co-sponsoring the Louisville Downtown Street Faire on Friday nights thoughout the summer.

Jenni Hlawatsch, owner of The Singing Cook, the business next door to RE/MAX Elevate where she continues to be a neighbor, is looking ahead as she welcomes the new office. She says, “While I’ll miss my Book Cellar neighbors, I look forward to the new business relationship with Jay and the RE/MAX Elevate team who are eager to support and get involved in all the goings on in downtown Louisville.”

“We’re delighted to welcome RE/MAX Elevate to downtown Louisville,” says Louisville Mayor Bob Muckle. “Their contributions to the local economy and strong tradition of community involvement will be a win for us all.”

RE/MAX Elevate is a member of the Louisville Chamber of Commerce and the Louisville Downtown Business Association.

RE/MAX Elevate, 724 Main St., Louisville; 303.974.5005; elevatedrealestate.com. Hours are: M-F 10:00 AM – 5:00 PM; Sa/Sun 11:00 AM-4:00 PM

By Darren Thornberry, At Home
Photos by Jonathan Castner and Flatirons Pro Media

 

Originally Posted by RE/MAX of Boulder

 

Posted on May 3, 2019 at 12:00 pm
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RE/MAX Elevate Opens in Louisville on May 1

 

Posted on April 24, 2019 at 12:00 pm
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Colorado 5th Most Innovative State

Colorado ranked as the No. 5 most innovative state in the U.S. and the achievement comes with perks.

For example, innovation is a principal driver of U.S. economic growth, reports WalletHub, which points toward good news for Colorado’s economic outlook.

“In 2019, the U.S. will spend an estimated $581 billion on research and development — more than any other country in the world and about 25 percent of the world’s total — helping the nation rank No. 6 on the Global Innovation Index,” writes WalletHub in its recently released study of Least & Most Innovative States.

The study compared 50 states and the District of Columbia across 24 indicators of innovation-friendliness, ranging from share of STEM professionals to tech-company density.

The top five states and their corresponding scores out of 100 are:

 

No. 1     Massachusetts, 72.31

No. 2     Washington, 68.03

No. 3     District of Columbia, 67.47

No. 4     Maryland, 64.06

No. 5     Colorado, 63.35

“Certain states deserve more credit than others for America’s dominance in the tech era. These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries,” notes WalletHub.

Colorado also ranked in the top 10 for six metrics, including tied for No. 1 in eighth-grade math and science performance, No. 5 for share of STEM professionals and share of technology companies, No. 6 for projected STEM-job demand, and No. 7 for venture capital funding per capita.

What makes Colorado so innovative?

WalletHub compared two dimensions across 24 metrics, “Human Capital” and “Innovation Environment.”

Human Capital includes:

  • Share of STEM Professionals
  • Share of Science & Engineering Graduates
  • Projected STEM-Job Demand by 2020
  • Scientific-Knowledge Output
  • Eighth-Grade Math & Science Performance
  • AP Exam Participation

Innovation Environment includes:

  • Share of Technology Companies
  • R&D Spending per Capita
  • R&D Intensity
  • Invention Patents per Capita
  • IP Services Exports as a Share of All Services Exports
  • Business Churn
  • Jobs in New Companies
  • Net Migration
  • Entrepreneurial Activity
  • Number of Startups “Accelerated” per Total Number of Start-ups
  • Tax-Friendliness
  • Venture-Capital Funding per Capita
  • Average Annual Federal Small-Business Funding per GDP
  • Industry-Cluster Strength
  • Open Roads & Skies Friendly Laws
  • Average Internet Speed
  • Share of Households with Internet Access
  • Adoption of K–12 Computer Science Standards, Note that this metric was chosen because WalletHub considers most future innovation will be tech enabled.

For more information visit https://wallethub.com/edu/most-innovative-states/31890

Originally Posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, April 16th, 2019

Posted on April 16, 2019 at 6:00 pm
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Colorado Residents Among Happiest, Healthiest in U.S.

Most of us in Colorado feel happy about our life.  Our degree of happiness and healthiness is measured annually when Gallup conducts its wellbeing survey. In the recently released 2018 results, Colorado ranked No. 6 on the Gallup National Health and Well-Being Index, marking the 11th year in a row in the top 10 across the U.S.

Colorado and Hawaii are the only two states with an eleven year record in the top 10. Hawaii ranked No. 1 and Wyoming, Alaska, Montana and Utah followed as the top five.

Colorado’s long held position as top state for physical wellbeing was nudged out in 2018 by Alaska and Wyoming. Hawaii topped all states in three elements in 2018, leading the U.S. in career, social, and financial wellbeing. Alaska and North Dakota were top states for financial wellbeing, following Hawaii.

Gallup reports that its ranking is based on more than 115,000 surveys of adults across the U.S. that measures five essential elements of wellbeing:

Career: liking what you do and feeling motivated to achieve goals

Social: having supportive relationships and love in your life

Financial: managing your economic life to reduce stress and increase security

Community: liking where you live, feeling safe, and having pride in your community

Physical: having good health and enough energy to get things done daily

High levels of wellbeing improve workplace performance and employee engagement that can benefit local employers, writes Gallup.

Here are the top 10 happiest and healthiest states and their scores out of 100 on Gallup’s National Health and Well-Being Index.

1. Hawaii                           64.6

2. Wyoming                      64.2

3. Alaska                          63.9

4. Montana                       63.5

5. Utah                              63.4

6. Colorado                      63.4

7. Vermont                        63.3

8. Delaware                      62.9

9. South Dakota               62.7

10. North Dakota             62.7

Across the nation overall wellbeing declined in 2018, with the national Well-Being Index score dropping to 61.2 from 61.5 in 2017. The Index also declined in 2017, bringing the two-year decrease to 0.9 points. Social and career wellbeing slid, while physical wellbeing improved and financial and community wellbeing held steady.

For the full Gallup Wellbeing Index, visit https://news.gallup.com/poll/247034/hawaii-tops-wellbeing-record-7th-time.aspx

 

Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Wednesday, March 27th, 2019.

Posted on March 20, 2019 at 3:00 pm
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Equity Rich Properties Dominate Boulder County Cities

More than 40 percent of homeowners in Boulder County are equity rich – that is the amount of loans secured by the property is 50 percent or less of the property’s estimated market value, according to ATTOM Data Solutions Q3 2018 U.S. Home Equity & Underwater Report.

Cities in Boulder County notch the upper end of the equity rich measure. Here are the statistics for Boulder County. Percentages within cities vary slightly by zip code:

Boulder – 55% equity rich

Louisville – 46% equity rich

Lafayette – 42% equity rich

Longmont – 41% equity rich

Statewide, Colorado homeowners aren’t far behind with more than 32 percent of Colorado properties equity rich.

Across the U.S., nearly 14.5 million properties are equity rich. That’s 25.7 percent of all mortgaged properties, up from 24.9 percent the previous quarter. Conversely, the share of seriously underwater properties dropped to 8.8 percent. ATTOM says properties categorized as seriously underwater have a combined estimated balance of loans at least 25 percent higher than the property’s estimated market value.

States with the highest share of equity rich properties are California, 42.5 percent; Hawaii, 39.4 percent; Washington, 35.3 percent; New York, 34.9 percent and Oregon, 33.6 percent. Colorado is close on Oregon’s heels with 32.3 percent equity rich properties.

“As homeowners stay put longer, they continue to build more equity in their homes despite the recent slowing in rates of home price appreciation,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “West coast markets along with New York have the highest share of equity rich homeowners while markets in the Mississippi Valley and Rust Belt continue to have stubbornly high rates of seriously underwater homeowners when it comes to home equity.”

The ATTOM Data Solutions U.S. Home Equity & Underwater report provides counts of properties based on several categories of equity at the state, metro, county and zip code level, along with the percentage of total properties with a mortgage that each equity category represents.

For the full report and to view statistics by zip code, visit: https://www.attomdata.com/news/market-trends/home-sales-prices/home-equity-underwater-report-q3-2018/

 

Posted by Tom Kalinski Founder RE/MAX of Boulder on Wednesday, February 20th, 2019 at 2:54pm.

Posted on February 20, 2019 at 5:00 pm
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Economic Growth Marches on in Boulder County, but Headwinds Building

Boulder’s economic horizon will keep its rosy glow, though economists anticipate the pace will slow in the face of growing local and national challenges.

Nationally recognized experts presented a mixed economic message to a record-setting crowd of civic, political and business leaders gathered for the 12th annual Boulder Economic Forecast. Organized by the Boulder Chamber and Boulder Economic Council, the event was held January 17 at the Embassy Suites Hotel. RE/MAX of Boulder is among the event’s sponsors.

The goal is to arm community leaders with up-to-date statistics and trends that inform decisions and support local economic vitality, according to John Tayer, CEO and President of the Boulder Chamber.

And community leaders will want to take heed.

Keynote speaker Dr. Richard Wobbekind, Executive Director CU-Boulder Leeds Business Research Division, shared a vision of continued economic growth but more moderate than previous years.

“Overall the picture is pretty positive in the sense that consumption is growing, investment is growing, government spending has been growing, so you have those pieces pushing the economy forward. That continues to fuel growth and employment,” says Wobbekind.

But uphill pressures are mounting.

With national GDP growth slowing to a projected 2.4-2.5 percent for 2019, the national economy is moving to a moderate trend. Wobbekind says the thing on everyone’s mind – “the elephant in the room”—is whether recent stock market volatility and other factors will lead to a significant downturn in the economy.

“Will the Recovery Ever End?” is his presentation title. But Wobbekind says it’s hard to say whether or not the economy will turn towards recession.

National outlook a mixed bag

Nationally, Wobbekind’s data showed a story of good news, bad news.

On the good news side, Wobbekind says nationally incomes are rising due to strong employment accompanied by strong wages. With rising incomes, consumption rates are growing and debt burden as a percentage of income is relatively low. National FHFA home price growth is showing strong price appreciation.

Then there are the tempered aspects of the national economy. He says consumer confidence is still quite high, historically speaking, but it has come down slightly. Businesses are in good shape, but there is uncertainty about interest rates, trade agreements, sales and profit growth and hiring. Nationally, business confidence is falling, but still above neutral.

Wobbekind also presents some straight-up challenges. Corporate and private tax cuts are effectively ending, with the tax cut stimulus leaving a national deficit of over $1 trillion, accumulated during a prolonged period of economic expansion. Workers are in short supply with low unemployment rates and 6.7 million jobs unfilled nationwide. Student loan debt is high and interest rates may see modest increases.

Colorado’s economy sustaining strength, but pressure is rising

Colorado’s economic record has been strong, outperforming the nation in recent years. For example, the state ranked third in the country for pace of GDP growth in 2017. Wobbekind suggests the trend may keep going, though more slowly.

For one, strong employment growth is expected to continue – Colorado has been in the top five states for job creation since 2008. But in 2018, the employment growth was down slightly to two percent. Even so, Colorado has the third highest labor participation in the country.

But worker’s wage growth is not as strong as would be expected given the tight labor market. Wobbekind notes lackluster increase in wages is troubling in the face of the high cost of housing and inflation.

While Colorado’s population keeps growing, the rate is slowing. Net migration will continue to decline as it did last year.

Home price appreciation—notably among the fastest growing in the U.S for the past 10 years—fell from the top three slots but remains in the top 10. Residential building permit activity is still strong.

While businesses are still confident in state and local economies, confidence is dropping when it comes to the national economy.

Boulder County carries on

Boulder County is expected to mostly hold steady. Though the area’s strong rate of growth is expected to decrease next year, the decline will be slight. Key statistics Wobbekind listed are:

Boulder’s GDP growth is 4 percent
Much needed multifamily housing stock is increasing
City of Boulder’s median single family home prices have stabilized somewhat
City of Boulder has a significant jump in office vacancies and more office space is coming online
Boulder County wage growth is 4.7 percent
Broomfield and Denver have higher wages than Boulder
City of Boulder’s sales and use tax dipped last year but is climbing back up

Headwinds ahead

Wobbekind points to headwinds facing Colorado, saying the state should watch out for:

Commodity prices
Drought and weather
Housing affordability
Talent shortage
Real wage increases
PERA funded only at 46 percent

Labor shortage one of state’s biggest challenges

Skillful Colorado’s Executive Director, Shannon Block, dove into to strategies for overcoming the shortage of skilled workers. Employers are struggling to find workers and the cause of the talent shortage is a skills gap. Fueling the problem, says Block, are traditional employment practices narrowly focused on candidates with 4-year college degrees. That focus is making job-landing difficult for the 70 percent of Americans who don’t have a 4-year degree.

Skillful Colorado’s focus is to shift that trend toward hiring practices that value skills-based talent. The goal is to help Coloradans get jobs in a rapidly changing economy, particularly the 60 percent In Colorado with no college degree.

For more information, see Boulder Economic Forecast slide presentations at:

Dr. Rich Wobbekind’s 2019 Boulder Economic Forecast: https://ecs.page.link/YoZU

Shannon Block, Skillful Colorado, Addressing the Skills Gap: https://ecs.page.link/kLGs

 

Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Thursday, February 7th, 2019 at 1:40pm.

Posted on February 7, 2019 at 3:00 pm
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Be mindful of warning signs in housing market

2018 was another strong year for residential real estate in Colorado in general and Boulder Valley in particular, but what’s in store for 2019?

First, a look back at 2018.  Nationally, Colorado jumped from 10th to fifth among all states for one-year appreciation, with a 9.16 percent increase in home values.  Boulder County improved from 57th in 2017 to 41st in 2018, with over 9.5 percent price appreciation.  Below are the 10 “Vital Statistics” for Boulder Valley we track to gauge the health of the real estate market from year to year.

As you can see, most of the indicators point toward an appreciating market, though increasing interest rates and a drop in the percentage of homes under contract indicate potential signs of weakness emerging. 

In the city of Boulder, the average price of a single-family home topped $1,215,000, which was up 11 percent from 2017.  However, Boulder also saw almost 50 fewer home sales than last year, which highlights our continued shortage of inventory.  The most affordable city in Boulder County continues to be Longmont, but even there, the average price of a single-family home is now over $460,000 and may reach $500,000 if its appreciation trend continues.

One statistic that gets very little attention is that we often see home prices dip slightly in the second half of the year as compared to the first.  As the chart below shows, we generally see appreciation through June or July, and then values trail off slightly.  What this chart means is that, if you’re a seller your best bet is to sell in the spring, and if you’re a buyer, try to buy in the fall when home prices are stagnant or dropping.

2018 was quite strong — will 2019 be similar?

Locally, conditions in our area generally support continued appreciation in residential real estate.  The total number of active listings available is still less than half of what it was before the Great Recession, which is likely to keep home prices growing, especially as our economy remains strong (very low unemployment) and we continue to see net migration into our area.

There are, however, several trends that could derail continued growth in our market.  First, interest rates are almost a full point higher than they were in 2017, and I’ve discussed before how a one point increase in interest rates can reduce purchasing power by 10 percent.  The Fed had indicated its intent to continue to raise rates in 2019, however, the news from the Fed’s most recent meeting in January suggested that they may hold off until at least June.

Second, the potential for a recession in the next year or two could begin dragging on home sales.  One indicator is that the yield curve (which compares rates for short-term vs. long-term Treasury notes) has been getting flatter.  When the yield curve inverts (that’s when rates for 10-year notes dip below rates for 2-year notes), it is very often followed by a recession.

Finally, local no-growth and anti-growth policies, regulations, and mindsets are making it increasingly difficult to add inventory to our region.  The dearth of homes to sell could negatively impact our market — and it is the only factor here that we as citizens have a measure of control over.

2019 has the potential to be another great year for residential real estate in Boulder Valley, but we need to be mindful of the potential derailers mentioned above.

 

Originally posted on BizWest.  Jay Kalinski is broker/owner of Re/Max of Boulder.

Posted on February 6, 2019 at 3:00 pm
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Top Places to Raise a Family in Boulder County

If you live in Boulder County, you know that all the ingredients needed to make a great place to raise a family are right here. So it’s no surprise that seven of Colorado’s top 25 places to raise a family in 2018 are in Boulder County, according to analysis by Niche.com.

Niche.com ranked the family friendliness of locations by assessing the quality of public schools, cost of living, crime rate, access to amenities, diversity, housing trends, employment statistics and percentage of households with children, among other characteristics. Data sources include U.S. Census Bureau data, the American Community Survey, FBI crime reports, and local surveys.

Most top 25 Colorado locations are in the Boulder area or the Denver metro area. Here are the Boulder County areas in the top 25 best places to raise a family in 2018:

#1 Pine Brook Hills

Pine Brook Hills is an unincorporated area just west of Boulder with a population of 1,091. According to Niche.com, many retirees live in Pine Brook Hills. 

Ranking on Key Attributes

Public Schools    A+

Housing               A

Good for Families  A+

 

#3 Louisville

The town of Louisville is in southeastern Boulder County. Amenities include 1,700 acres of open space, dozens of great eateries, a thriving arts scene, great schools, wonderful neighborhoods and a diverse mix of employment opportunities for its population of 19,972. 

Ranking on Key Attributes

Public Schools    A

Housing               B+

Good for Families  A+

 

#4 Superior

Located in southeastern Boulder County, the town of Superior has 594 acres of parks, greenspace, and open space and 27 miles of trails for its population of 12,928. Niche.com says many families and young professionals live in Superior.

Ranking on Key Attributes

Public Schools    A

Housing               B+

Good for Families  A+

 

#8  Gunbarrel

Gunbarrel is a mix of unincorporated county and city of Boulder lands, located just east of Boulder. Gunbarrel’s 9,559 residents enjoy craft breweries, coffee shops, trails and parks. Niche.com says many young professionals live in Gunbarrel.

Ranking on Key Attributes

Public Schools    A+

Housing               B

Good for Families  A+

 

#10 Boulder

Tucked into the foothills of the Rocky Mountains, the city of Boulder has a population of 105,420. Residents enjoy more than 45,000 acres of open space, 150 miles of trails, and 60 urban parks. The city is home to a thriving tech and natural foods industry and the University of Colorado Boulder. Niche.com says the public schools in Boulder are highly rated.

Ranking on Key Attributes

Public Schools    A+

Housing               C+

Good for Families  A+

 

#19 Niwot

Niwot is a small town in eastern Boulder County with a population of 4,588. Niwot offers craft breweries, coffee shops and a summer music program.

Ranking on Key Attributes

Public Schools    A

Housing               C+

Good for Families A

 

#24 Lafayette

The town of Lafayette is in eastern Boulder County with a population of 27,053 made up largely of families and young professionals. Lafayette has a parks system, greenbelts, bikeways, open space, and an attractive downtown featuring coffee shops and boutiques. 

Ranking on Key Attributes

Public Schools    A

Housing               B+

Good for Families A

 

For the full list of the top 25 most family-friendly communities in Colorado visit: https://www.niche.com/places-to-live/search/best-places-for-families/s/colorado/

To see average home prices in each Boulder County community, visit our website at boulderco.com and search “Communities.”

 

 

Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Thursday, January 17th, 2019 at 11:13am.

Posted on January 18, 2019 at 9:09 pm
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November Sales Head in Opposite Directions

A tale of two markets emerged in November, as Boulder County’s single-family home sales skidded to a stop, while townhomes and condos took a significant leap forward.

Single-family home sales in the Boulder-area markets dropped 14.4 percent in November compared to October —310 vs. 362 homes—while condominium and townhome sales rose 14.5 percent—126 units vs. 110.

Yet when data for 2018’s first 11 months is considered, the two markets tracked closely together, and both appear to be slowing, according to Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

“This is the first month single-family home sales fell below last year, and condos and townhomes are only slightly ahead,” Hotard explains.

Year-to-date through November, sales of single-family homes decreased 1.4 percent compared to the prior year with 4,205 homes sold vs. 4,266. Attached home sales over the same period improved 3.3 percent – 1,445 vs. 1,399 units sold.

Inventory decreased in both housing categories, though more significantly for single-family homes, which dropped 13.1 percent in November compared to October with 821 vs. 945 Boulder County homes for sale. Condo/townhome inventory fell 6.1 percent in November compared to the previous month with 263 units for sale vs. 280.

“My guess is the growth of the townhome/condo market is due to a larger inventory and more affordable pricing,” says Hotard. “Interest rates are making people jumpy, but the reality is that mortgage rates are still historically low. The more complete view is the inventory and pricing dynamics of the Boulder-area markets.”

He notes that single-family home sales could recover in December, but it’s not likely.

“We have the ongoing headwinds of low inventory and rising prices. When we look back, we’ll see 2018 as market slowdown for housing in our market areas,” Hotard predicts.

Despite the slow-down in housing, Colorado’s economy continues to show strength, wage growth is increasing, and gross domestic product is up, according to recent news reports.

“What the Boulder-area needs is more housing that is desirable and more affordable for people,” adds Hotard.

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Thursday, January 3rd, 2019 at 10:13am.

Posted on January 3, 2019 at 11:13 pm
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Boulder’s Economic Confidence Highest in U.S.

Boulder leads the nation for the most positive economic outlook, followed by two other Colorado cities in the top 10 — No. 3 Fort Collins and No. 9 Denver. According to the recent survey by Indeed.com, a positive economic outlook is driven largely by where you live more than by a national or political view of a national economy.

Colorado is the only state with three cities in Indeed’s top 10. Smaller mountain-state metro area residents performed well when surveyed about the economy and their personal outlook. Tech hubs also fared well, such as the San Francisco Bay Area, Austin, and Raleigh.

The following 10 U.S. cities have the highest economic confidence, according to Indeed.com:

  1.      Boulder, CO
  2.      Provo-Orem, UT
  3.      Fort Collins, CO
  4.      San Jose-Sunnyvale-Santa Clara, CA
  5.      Boise, ID
  6.      Ann Arbor, MI
  7.      San Francisco-Oakland-Hayward, CA
  8.      Austin, Round Rock, TX
  9.      Denver-Aurora-Lakewood, CO
  10.      Raleigh, NC

For the 2,000 American adults nationwide surveyed on politics and attitudes about the economy, local economic conditions such as lower unemployment, faster job growth, and a more educated workforce correlate with local economic confidence.

Nine percent describe their regional economic conditions as excellent and 51 percent say their economies are good. To analyze the local influence on economic perspective, Indeed combined answers to survey questions with data on local job markets. Five factors were found to drive local economic confidence:

  1. Personal finances – 81 percent of respondents rate their personal financial situation as excellent or good and say the same about local economic conditions.
  1. National economic view – 83 percent who rate national economics as excellent or good say the same about local economic conditions. The survey found that views of the national economic situation are also strongly influenced by politics, with 73 percent of Republicans and 43 percent of Democrats rating national economic conditions excellent or good.
  1. Local unemployment rate – Respondents in areas with lower unemployment rates have a more positive economic outlook. The outlook is likely driven by the view that a lower unemployment rate results in more job opportunities and bargaining power for workers, which should translate into faster wage growth.
  1. Higher local job growth – Job growth where you live means expanding opportunities and rising home prices. The majority of homeowners like this combined dynamic.
  1. Highly educated populations – For those who live in areas where a larger percentage of adults have a college degree – such as the Denver-metro area – there is a correlation with higher earnings and more spending power. 

People are more optimistic when they live in places that are doing well economically. That holds true for those who live in Colorado where unemployment rates continue to be among the lowest in the nation and job growth remains strong.

Yahoo Finance articlehttps://finance.yahoo.com/news/10-u-s-cities-highest-economic-confidence-170140863.html

Indeed’s full report at: https://www.hiringlab.org/2018/11/27/local-economic-confidence/

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, December 18th, 2018 at 10:18am.

Posted on December 19, 2018 at 10:54 pm
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