Here's an article nicely supporting what we've been saying for some time. It seems a CU professor shares our contrarian view on the local/regional real estate market.
As we've said before, the real estate bubble is largely concentrated in metro markets on both coasts. Our local/regional real estate market hasn't experienced the bubble of the past few years and as such is less likely to experience price falls from the bubble bursting. However, as prices flatten or even drop in the more overheated markets around the country, there will be effects locally as well. Local buyer and seller psychology will still be affected.
The smart Colorado home buyer should look for opportunities during this period as no doubt, there will be sellers who must exit AND buyers who hesistate because of the national hoopla about the bubble bursting (not realizing Boulder, Colorado isn't exactly New York, Boston, or San Francisco). As such, this spring/summer could be a great time to buy real estate in Boulder and surrounding communities. In our opinion, investors with moderate to long term investment horizons should do quite nicely as the long-term underlying economic drivers for housing are favorable in Colorado.
Note: This summer we issued our first research report outlining our thoughts on the bubble with respect to Colorado. We've made that report available to clients and friends. If you'd like a copy, please contact us. We'll also have a system up shortly that allow readers of the blog to download it directly.