RE/MAX of Boulder News

As home values continue to rise in Colorado, it's clear that home sellers are benefitting, with four state metro’s making the top 15 of 24/7 Wall St.’s list of cities where people made the most money on home sales.

Boulder ranked No. 8 on the list with Denver, Fort Collins, and Greeley coming in seventh, eleventh and fifteenth, respectively.

According to 24/7 Wall St., Boulder’s average home price gain since last purchase is 56.4 percent or $176,750, compared with Denver’s slightly higher 56.6 percent which translates to $133,700; Fort Collins’ gain of 54.6 percent or $121,850 and Greeley’s 52.6 percent or $107,748.

Top-ranked California metro San Jose-Sunnyvale-Santa Clara had an average home price gain of 77 percent or$415,500.

Metro

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This two-part series of articles describes the variety of reasons why housing inventory is very low in Boulder County. 

Legalized Marijuana and Craft Beer

Part and parcel of very low unemployment rates and competitive job recruiting in Colorado as indicated in Part 1 of this article, are the thriving legal cannabis and craft beer industries that have added an extra boost to our economy. With the boom in grow rooms, dispensaries, and brew pubs, the surge in jobs in these thriving sectors are attracting employees not only in state, but also out of state. In addition, we hear stories from Realtors and mortgage lenders about transplants who have moved to Colorado specifically for our marijuana laws. The more people choosing to move here, the more

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Pricing and prepping your home to sell at the highest price requires strategy, even in a red hot market like Boulder County.

The best strategy is the one that suits your personal needs and local market conditions. For those reasons, your Realtor is the most reliable advisor for pricing your home. Your Realtor also can offer insights on improvements that will boost your home's appeal and value.

If you’re just beginning to consider selling, take a look at these pricing and prepping strategies reported by Realty Times. Depending on your local market, your Realtor may recommend these approaches to selling your home.   

Price Just Under a Price Break

For a home valued at $600,000, list at $599,000 to increase the number of searches your home

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Address (click on blue links for below for photos/description)

 

City(click on blue links for below for map)

 

Date

RE/MAX of Boulder Realtor

 

3575 28th St #103

Boulder

Sat 11 – 1

Kalinski Team

6249 Nottinghill Gate

Boulder

Sat 11 – 1

Eric & Alex Jacobson

307 Beacon Hill Drive

Lafayette

Sat & Sun 11 – 1

Terri Cox

9726 Jellison St

Westminster

Sat 1 -3, Sun 11 -1

Linda Nehls

3182 Cimarron Place

Superior

Sat 11 -1, Sun 2 – 4

Lynn Ryan

860 Aurora Ave

Boulder

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In the first quarter of 2018, there was a record low number of homes available to buy. In fact, as of May 7, 2018 there were only a total of 13 single-family homes shown as available in the IRES Multiple Listing Service (MLS) under $600,000 across Boulder, Louisville, and Lafayette. When buyers are out searching for houses, their most common question is, “Why is there such a shortage of homes?” 

Thinking back to just a few short years ago during the great recession of 2007 to 2012, I used to produce “unsuccessful seller” studies for subdivisions. In some subdivisions, as much as 50- to 60- percent of the homes that were available did not sell. Whereas today in Boulder County, an expired listing -- especially below the $1 million price range -- is

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Denver International Airport ranked No. 1 in the U.S, reports international air transport researchers at Skytrax in the 2018 annual airport awards. 

In a separate Skytrax ranking of regional airports by continent, Denver is the No. 1 airport in North America and No. 5 regional airport in the world.

More than 13 million international air travelers around the world surveyed for the awards voted Singapore Changi the top airport in the world for the third year in a row. Denver – ranking 29th in the world – claimed the top ranking spot for U.S. airports. Denver is followed by No. 34 Cincinnati, No. 48 Houston International, and Nos. 50 and 51 Atlanta and San Francisco, respectively.

Travelers were surveyed from August 2017 to February 2018,

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Address (click on blue links for below for photos/description)

 

City (click on blue links below for map)

 

Date

 

RE/MAX of Boulder Realtor

 

 

844 Mircos Street

Erie

Sat 10 – 12

Bob Grotluschen/Susie Donahue

 

1303 Armstrong Drive

Longmont

Sat 10 – 12

Patrick Dolan Team

 

615 S. 41st Street

Boulder

Sat 11 – 2

Mike Bader

 

1930 Tincup Court

Boulder

Sat 11-2; Sun 11-1

Jay Kalinski

 

6160 Marshall Street

Arvada

Sat 11-1; Sun 10:30-12:30

Terri Cox/Lauren Vigil

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When you prepare to sell your personal residence -- if you have lived in it for the last two out of five years -- there can be a substantial capital gains exclusion. Tax Reform 2018 retained the home sale tax exclusion of $250,000 for single people and $500,000 for married couples filing jointly. This means you can exclude that amount of profit from your tax liability. This is all well and good, but in some markets like the city of Boulder, where average home prices exceed $1 million, these exclusions have not kept up with the market.

However, capital improvements made to your home could help reduce your taxes. In any market, it is important to keep records of the capital improvements you make to your home. Why? Because any capital improvements you

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Address (click on blue links for below for photos/description)

 

 City

Date

RE/MAX of Boulder Realtor

 

1081 8th Street

Boulder

Sat/Sun 11 – 3      

Kalinski Team

601 Canyon Blvd. B

Boulder

Sat 11 – 1

John McElveen

2979 Shoshone Trail

Lafayette

Sat 12 – 2

E&L Team

930 Neon Forest Cr

Longmont

Sat 1 – 3

Lynn Ryan

2205 Walnut Street

Boulder

Sat/Sun 1 – 3

Lynn Ryan

2011 100 Year Party Ct. #1

Longmont

Sat 1 – 4

Denise Patryas

842 Saint Andrews Lane

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When you think of “mortgage insurance,” you may think of a type of life insurance that if you die, the mortgage on your house is paid off for the benefit of the survivors. Private Mortgage Insurance, known as PMI, is not that at all. PMI is insurance to protect the lender in the event the borrower defaults. PMI is usually required on conventional home loans where the down payment is less than 20%.

Without PMI, the risk to the lender would be higher, and lenders would not be as willing to commit as many funds towards low down payment programs. With PMI, conventional loan programs are available to buyers with as little as 3% down.

In rapidly appreciating markets, buying with as low a down payment as possible, makes a lot of sense.  When a market

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