Karen Bernardi, owner of The Bernardi Real Estate Group at Coldwell Banker in Boulder, has been selling real estate for nearly 30 years and is involved with numerous charities and foundations. The Business Report asked her about the Boulder Valley’s residential real estate scene as it recovers from a sluggish economy.

Residential real estate has gone through a turbulent few years. How would you assess the Boulder housing market today?

Very, very good. The number of homes sold in 2012 was up about 25 percent compared to 2011. At the end of February, the number of homes available for sale was down significantly from prior years — about 28 percent. At the current rate of sales, it would take 5.3 months to sell all the single family homes currently on the market (months of inventory). Last year this was closer to nine months. In many areas — like the city of Boulder, Louisville, Superior, Lafayette and Longmont — the inventory is four months or less.


Why has Boulder seemed to recover so quickly compared with other parts of the country or even other parts of the state?

Thankfully, our market did not decline as much as other areas and our foreclosure rate, while distressing, was below many of the areas that were particularly hard hit like Florida and Arizona. We did not fall as far and therefore did not have so far to climb back. We have seen this pattern in the past; we follow the national pattern but seem not to rise and fall as much.


What specific neighborhoods and price ranges are in most demand in Boulder?

All areas in the city of Boulder are selling well. The Louisville/Superior areas has been good as well as the south part of Longmont. But, really, we have seen great homes in all areas selling quickly and many times with competing offers.


Is there any segment of the market that is still a buyers’ market?

The mountain and plains have lagged a little and have some great opportunities for buyers. But, really, aren’t interest rates below 4 percent enough?


What advice would you give to a young couple that is finding it difficult to find an affordable home?

A couple things buyers need to do up front will help them immensely. Find a good lender to help you figure out correct price range to consider, and find an experienced local Realtor to help find homes. Buyers need to be flexible and develop a list of needs first and then add on some “nice to haves.” In our market, buyers need to be ready to move on houses quickly particularly -- great homes are selling in days!


What amenities are most in demand, especially in the high end?

Homes in the high end need to “look like a million bucks.” We stage our properties, especially in the high end, to have them show fabulously.