RE/MAX of Boulder Real Estate Blog

If you just bought a new home, chances are you plan to make some changes. As a new homeowner, you may plan to do it yourself.  

After all, it’s only a small crack in that pipe. How hard could it be to fix yourself?

While many projects can be done successfully, avoid the downfall of many DIY projects. Many mistakes can be avoided by doing enough research and planning right up front before the first nail is hammered or purchase made.

Following are tips from HouseLogic.com, and embellished by our own experience, to help you get your repair or updating project right the first time.

A little forethought can save you time, money and headache of doing it more than once.

1. Research, research, research

When it comes to any job, especially

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates were mostly flat week over week as economic data was mixed.  Economic data stronger than expected included July Housing Starts, July Industrial Production, July Capacity Utilization, Jobless Claims, and July Leading Economic Indicators.  Economic data weaker than expected included the August New York Empire State Manufacturing Index, the July Core Consumer Price Index (CPI), excluding the food and energy components, and July Building Permits.  The overall CPI was unchanged as expected.  Year over Year, the overall CPI was up 0.8% and core CPI was up 2.2%.  The August NAHB Housing Market Index and the August Philadelphia Fed Business Index

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Strong job growth of high-skilled, high-paying jobs is in Colorado’s ten-year future, according to an economic study released in July.

The study concludes that the state's workforce is projected to grow faster than the nation, especially in the knowledge economy.

Prepared by the Colorado Office of Economic Development and International Trade (OEDIT) in partnership with Mercer Consulting, the study analyzed Colorado's future economy. 

"Overall, the results show that Colorado is one of the strongest knowledge-based economies in the nation, which positions us extremely well for future economic success,” said Fiona Arnold, executive director of OEDIT.

Key findings show Colorado has a high concentration of high-skilled jobs producing goods and

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates improved slightly on the week as economic data was mostly weaker than expected.  Economic data weaker than expected included Q2 Productivity, the July Producer Price Index (PPI), July Retail Sales, and the August University of Michigan Consumer Sentiment Index.  The decline in productivity was the third quarterly decline in a row, which is the longest negative streak in the history of the report which dates back to just after World War II.  The Producer Price Index was down 0.4% on expectations that it would increase by 0.1%.  Excluding the food and energy components, core PPI was down 0.3% on expectations that it would be up 0.2%.  Year over

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Sales of Boulder County homes dipped in July, which could be the sign of a typical seasonal pullback.

Single-family home sales in Boulder County dropped 15.3 percent in July 2016 compared to last month – 443 units vs. 523 – while condominium and townhome sales fell 17.8 percent – 138 units vs. 168 units.

“This is a fairly significant pullback for July,” said Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

But Hotard thinks factors could mean this is more than a summer slowdown, including rising prices, tight credit, and continued inventory challenges.

“Buyers slowed their activity significantly in the month of July. There was some improvement in inventory, but not enough. Inventory continues to

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2016 is RE/MAX of Boulder’s 39th year serving the Boulder Valley. We look forward to creating strong relationships with partners in every spectrum of our community, from businesses to schools, nonprofits and athletic organizations.

University of Colorado Athletics

The excitement of Buffalo sports is a huge reason why Boulder Valley is such a great place to live, so naturally we are big supporters! RE/MAX of Boulder is proud to serve as the official real estate agency for CU Athletics. Our partnership with CU Athletics includes an array of sponsorships that strengthen athletic opportunities and bolster student athletes.

BoulderSource.com

RE/MAX of Boulder feels incredibly lucky to be an integral part of this amazing community, so we

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Millennials seeking homeownership are taking a close look at Denver – and many are stepping up to buy.   

The Colorado city is the No. 3 best city in the U.S. for young home buyers to purchase a home, according to a recent report from the National Association of Realtors®.

The association looked at employment, population, income, and housing condition data in the nation’s biggest metro areas to arrive at the top 10 list. The top two cities are Austin, TX, and Charleston, SC, ranked first and second on the list, respectively.

Denver’s boomtown reputation, characterized by young adults streaming in, is supported by the numbers. The area had the second largest number of millennials moving in, with a 27.7 percent share of movers in the millennial age

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We are still in a strong seller’s market, with a mere 1.56 and 0.74 months’ of inventory of single-family homes and attached homes, respectively. And yes, prices are up an average of 14 percent for single-family homes and 20 percent for attached homes in the first six months of the year. (I covered Boulder’s crossing the $1 million threshold in a previous article.)

Notwithstanding the foregoing, the second half of 2016 will be the best time for home buyers to jump into the market for the foreseeable future. Here are three key reasons why.

Inventory

The inventory of homes in Boulder County typically peaks in the summer and gradually trails off in the second half of the year. There is typically an equivalent (or slight higher) number of homes on

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates increased slightly on the week on mixed economic data.  Economic data stronger than expected included June Personal Spending, the July ADP Private Jobs report, June Factory Orders, July Non-Farm Jobs, and July Private Jobs.  Non-Farm Jobs increased by 255k on expectations of 175k; Private Jobs increased by 217k on expectations of 175k.  Economic data weaker than expected included the July ISM Manufacturing Index, June Construction Spending, June Personal Income, the July ISM Services Sector Index, weekly jobless claims, the July unemployment rate, and the June Trade Deficit.  Unemployment increased to 4.9% on expectations of 4.8%.  The Bank

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Significantly more homes became available for sale in June to the benefit of would-be Boulder County buyers looking for their next home, according to real estate statistics published by the Boulder Area Realtor® Association.

The jump in inventory is a welcome surprise in a real estate market marked by persistent low inventory and high demand.

The largest inventory increase – 36 percent – showed in condominiums and townhomes for sale in Boulder County in June 2016 with 117 units available compared to 86 in May.  

Inventory for single-family homes improved 15.4 percent in June compared to May – 914 units versus 792 units.

The surge in inventory appears to be price related, notes Ken Hotard, senior vice president of public affairs for the Boulder

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