RE/MAX of Boulder Real Estate News

Experts at RE/MAX of Boulder predict this year’s Boulder Valley real estate will face the same persistent challenge that dominated last year – high demand and low inventory.

The combination creates a strong seller’s market and tough buying competition. “Fierce buying competition” characterized the first half of 2016, says the 2017 Boulder Valley Real Estate Report published annually by RE/MAX of Boulder. The fierceness was driven by one simple reason: demand far exceeded supply of available homes, townhomes and condominiums for sale in Boulder Valley.

The report cites a number of factors that stimulated market demand, including a large and steady in-migration of newcomers to Colorado – 96 percent of whom settled along the Front Range. The increase

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If you are looking for reasons to love living in Boulder even more, you don't have to look far. Over the past years, Boulder has garnered a growing list of top rankings on 'Best Of' lists. Now, in January alone, another five accolades rolled in. Boulder ranked among the 'best of' on five different lists of places to live, work and visit. Here's the breakdown:

 Source:  In order listed: Niche.com, American Institute for Economic Research, PenguinValue.com, Smartasset, Expedia

 

No. 1 – Best Colorado School District. Boulder Valley School District ranked top school district in Colorado for 2017, according to Niche.com. Rounding out the top five are Aspen School District, Cheyenne Mountain School District No. 12, located in the Southwest corner

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As predicted, the Federal Reserve raised interest rates in December, and conventional mortgage rates have increased from 3.625 percent on Nov. 4 to 4.375 percent as of the writing of this article (an increase of 0.75 percentage points). In 2017, economists predict a couple more interest-rate increases to the Fed funds rate, which will likely spur increases in conventional mortgage rates as well.

To a homebuyer in the Boulder Valley, what do these projected mortgage-rate increases actually mean? The effect may be bigger than you would think.

The 1 Percent = 10 Percent Rule

As a rule of thumb, for each 1 percent increase in mortgage rates, your buying power decreases about 10 percent. To understand the import of this, it is helpful to use a couple

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Saturday February 4th

11am-1pm: 4585 13th Street E, Boulder John Hatch

11:30am-1pm: 1485 Stoneham Street, Superior Andrew Muller 

12-3pm: 105 Fairfield Lane, Louisville Tammy Milano

1-3pm: 1705 Iris Avenue, Boulder Ty Hart 

 

Sunday February 5th

11am-1pm:  343 Dakota Blvd., Boulder Clove Berger

11am-1pm: 111 Utica Cir. Boulder Dale Pearson

12-3pm: 1127 Ridglea Way, Boulder Donna Voss

1-3pm: 3961 Broadway Street, Boulder Lancene Cadora 

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With house buying season right around the corner, it’s time to shop for a mortgage. Especially in a hot housing market like Boulder County, getting your mortgage lined up before the perfect house comes along is recommended.

Yet, according to Bradley Tuttle’s Realty Times, most borrowers do little mortgage evaluation and pay more for their loans as a result. To get the best mortgage rate and avoid paying more than you need to, take a look at Realty Times top five mortgage mistakes.

1. Mistaking advertised rates with the actual rate

Advertised rates are typically for those with perfect – or almost perfect – credit. For most mortgages, to get the low rate advertised, you must pay a fee which can be up to or one percent of the loan amount, also

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429 Concord Ave., Boulder                         OPEN SATURDAY 11 AM – 1 PM     Rich Gribbon  

2245 Grape Ave., Boulder                           OPEN SUNDAY 11 AM – 1 PM      Lynn Ryan/Brian Neeper   

343 Dakota Blvd., Boulder                           OPEN SUNDAY 1 – 3 PM    Clove Berger (information coming soon) 

1111 Utica Cr., Boulder                                OPEN SUNDAY 1 – 3 PM     Dale Pearson                                     

953 11th St., Boulder                                    OPEN SUNDAY 1 – 4 PM      Patrick Dolan                     

4849 Silver Sage Ct., Boulder                     OPEN SUNDAY 1 – 4 PM      Patrick Dolan (information coming soon)

4385 S. Meadow Dr., Boulder                     OPEN SUNDAY 1 –

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December’s real estate statistics for the Boulder area were a mixed bag, impacted by the typical holiday slowdown, persistent low inventory, and continued rising prices.

Condominium and townhome inventory helped put a shine on December's attached dwelling sales in Boulder County, which rose 12.5 percent with 117 compared to 104 in November. Yet, single-family home sales dropped 33.1 percent with 224 homes sold in December 2016 compared with 335 in November 2016.

For the year, single-family sales through December 2016 declined 10.3 percent with 4,396 units sold vs. 4,899. Sales of condo/townhomes fell 9.1 percent in the Boulder area, with 1,422 units sold through December 2016 compared with last year's 1,565.

Ken Hotard, Senior VP of Public

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Denver No. 2 City for Job Seekers

If you're looking for a new job to top off the New Year, the Denver metro-area is a good place to be. In fact, it is the second best city for job seekers in 2017 compared to the 100 largest cities in the U.S., according to analysis of federal data by NerdWallet. Analysts ranked cities based on weighted scoring of best job opportunities and affordability.

Denver earned the No. 2 spot despite the rising cost of housing in the metro-area. NerdWallet counted the cost of housing as 16.7 percent of overall score. The study showed the No. 1 best city for job seekers is Austin, Texas, followed by a top-ten lineup of Denver, Nashville, TN: Seattle, Durham, NC; Atlanta, Minneapolis, Lincoln, NE; Irving TX; and Raleigh, NC.

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2017 Boulder Economic Forecast: Boulder and Beyond

More than 300 of Boulder's top business, nonprofit and political leaders gathered at UCAR recently to glimpse forecasts for 2017 national, state, and Boulder economies.  

Predictions are strongly positive for Colorado and Boulder County, according to economic experts at the 2017 Boulder Economic Forecast: Boulder and Beyond.

The annual forecast, hosted by the Boulder Economic Council (BEC) and the Boulder Chamber at UCAR, is one of the most anticipated events of the year. Moderated by BEC Executive Director Clif Harald, sponsors included Elevations Credit Union as presenting sponsor and RE/MAX of Boulder among supporting sponsors.


Event moderator Clif Harald, Executive Director of the Boulder

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If you're one of the millions who use smart devices throughout your home, take heed.

 Along with the wonder of touch-of-a-button Internet home control comes the growing problem of cybercrime. And without precautions, you could be the next victim. The use of smart devices is projected to reach 50 billion by 2020, according to Cisco Internet Business Solutions Group. With so many smart devices and the availability of easy to use hacking software such as Miria, home-targeted cybercrime is a growing problem.

Take steps now to keep your home, financial data and you, safe. Follow these valuable tips on how to keep hackers out of your house, as seen in Bradley K. Tuttle's Real Estate Update. 

 

1. Change the default setting on your smart device.

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