Beware of Wood Roofs in Boulder! They will need to be replaced soon.

Back in 1994, January 1, 2014, must have sounded like the distant future of science fiction, but now it’s not so far away.  It is the deadline for homeowners in the city of Boulder with wood roofs to have them replaced, a date set in 1994 when the ban went into effect.

All wood roofs will need to be replaced by January 1, 2014.

Homebuyers take note: If the home you’ve fallen in love with has a shake roof, this will be a significant cost in the thousands of dollars to you in the future.  

The actual wording of the building code is a model of confusing bureaucratic jargon:

“No person owning a building with wood roof covering materials shall fail to remove or cause to be removed from the building all wood roof covering materials before January 1, 2014, and to replace the removed roofing with approved roof covering materials which conform to the International Building Code as adopted, and no person shall thereafter take possession or ownership of a building with wood roof covering materials.”

And, in case you’re wondering if your wood composite roof needs to be replaced, the answer is yes, if it’s more than half wood, or in the words of the code: “’Wood’" for the purposes of this definition, means any natural or composite material containing at least fifty percent wood by volume.”

My guess is that 2013 will be a busy year for local roofing companies, and you want to time a re-roof for the dry season. If you need replace your roof, you might as well do it now. Email me at monique@moniquecole.com for my recommended roofing contractors.

West Boulder Market is HOT! Spring 2012 Sales Data Encouraging

The weather heated up early this year in Boulder and so did the real estate market in my home neighborhood -- the greater Flatirons area (University Hill, Rose Hill, Chautauqua). Spring sales show that the pent-up demand we’ve been hearing about during the recession is becoming “un-pent.” See table below for 2012 sales through mid-May. Confidence has returned and motivated buyers are coming out of the woodwork – from CU parents to investors and homebuyers. The problem is that there are not enough quality homes on the market for them to buy. In mid-May there were 43 active listings under $2 million in this area, of which 19 were already under contract!

SOLD! My listing at 990 Lincoln Place went under contract in two weeks.

Chautauqua, Rose Hill - West of 9th, South of Canyon
Closed	Address	List Price	Sold Price	Discount	Beds	Bath	Gar.	DOM	Total SF	$/ SF	Fin. SF	$/fin
3/30/12	474 Marine	$499,000	$450,000	9.82%	2	2	1	79	1,740	$259	1,200	$375
4/18/12	924 8th	$525,000	$485,000	7.62%	2	2	1	170	1,121	$433	1,121	$433
4/6/12	623 Marine	$585,000	$551,400	5.74%	3	3	2	81	2,592	$213	2,592	$213
4/23/12	834 7th	$599,000	$599,500	-0.08%	2	2	2	46	1,679	$357	1,492	$402
1/3/12	627 Marine	$674,900	$640,000	5.17%	3	2	2	100	2,110	$303	1,724	$371
1/31/12	835 Grant	$849,000	$774,553	8.77%	4	3	0	185	3,284	$236	3,100	$250
3/20/12	470 College	$1,295,000	$1,220,000	5.79%	5	3	0	75	2,916	$418	2,750	$444
3/30/12	445 Christmas Tr.	AUCTION	$1,650,000	0.00%	4	4	2	51	5,804	$284	5,804	$284
3/30/12	900 6th	$1,975,000	$1,980,000	-0.25%	4	3	2	54	3,360	$589	3,360	$589
	AVERAGES	$875,238	$927,828	4.73%	3	3	1	93	2,734	$344	2,571	$373

The Hill - East of 9th, between Canyon and Baseline
5/3/12	965 10th	$405,000	$385,000	4.94%	3	2	1	109	1,406	$274	1,406	$274
2/17/12	896 17th	$499,900	$485,000	2.98%	3	2	0	19	1,849	$262	1,849	$262
5/11/12	833 Lincoln	$549,000	$550,000	-0.18%	3	2	1	32	1,508	$365	1,248	$441
4/12/12	1260 Cascade	$589,900	$565,000	4.22%	3	2	2	58	1,359	$416	1,359	$416
1/26/12	1315 9th	$575,000	$575,000	0.00%	4	2	2	12	1,824	$315	1,824	$315
3/30/12	932 Marine	$639,000	$600,000	6.10%	5	4	0	43	2,172	$276	2,172	$276
4/24/12	811 15th	$750,000	$720,000	4.00%	3	2	2	76	2,058	$350	1,966	$366
2/29/12	1035 10th	$799,000	$725,000	9.26%	6	4	4	93	3,043	$238	3,043	$238
3/30/12	990 Lincoln	$799,000	$764,000	4.38%	4	2	0	15	3,335	$229	2,389	$320
3/29/12	1026 Lincoln	$835,000	$800,000	4.19%	4	3	0	242	2,841	$282	2,561	$312
3/28/12	904 15th	$839,000	$820,000	2.26%	5	4	2	109	2,712	$302	2,642	$310
2/29/12	1139 12th	$868,400	$825,000	5.00%	7	4	0	365	3,898	$212	2,660	$310
4/26/12	766 16th	$995,000	$950,000	4.52%	4	4	3	107	3,402	$279	3,402	$279
3/29/12	842 13th	$1,195,000	$1,100,000	7.95%	3	3	3	312	2,620	$420	2,620	$420
	AVERAGES	$738,443	$704,571	4.26%	4	3	1	114	2,431	$301	2,224	$324

Discount = Percentage off of list price; DOM = Days on the Market;  /SF = Price per square foot (total) $/fin = Price per finished square foot

Source: IRES MLS. Information deemed reliable, but not guaranteed.