I wanted to take a moment and share with you a new addition to our family. On June 5, 2016 we were blessed by a beautiful & healthy baby girl “Skye”. Her piercing blue eyes accompanied by her abundant priceless expressions will literally stop you in your tracks.
With that being said, it comes easy to reflect to the incredible fall weather and the classic bluebird days we have been experiencing in Colorado. At times, it is difficult to believe that Winter is approaching and that 2016 is coming to a close.
The demand for Real Estate continues to be as strong as ever across the front range and across Colorado. Boulder’s market is in the top 1% of the country’s most expensive housing market with an average sales price of $687,330; a 16.7% increase from Q2 a year ago. There is even some talk of Boulder becoming on par with Aspen.
On the other hand, we have Denver, which ranked 3rd amongst the hottest housing markets in the country and is predicted to be the number one market in the country this year. Of those renting, 34% of their income is spent on their rent. Average rental prices for the state are 24% higher than the national average.
Given the current market conditions, now is an excellent time to consider selling, refinancing or utilizing the benefits of a tax deferred 1031 exchange. Typically stated from an investor’s point, 1031 exchange generally provides increased cash-on-cash returns while maximizing taxable deductions within a real estate transaction.