RE/MAX of Boulder Real Estate Blog

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

Mortgage interest rates improved slightly this past week as the Federal Reserve Bank left the Fed Funds rate unchanged at the conclusion of its FOMC meeting.  The language of the FOMC statement was left unchanged as well indicating that it will leave the Fed Funds rate at its current level for a considerable time.  Economic data was mixed.  Economic data stronger than expected included the Fed New York Empire State Manufacturing Index, the Q2 Current Account Balance, the September NAHB Housing Market Index, and weekly jobless claims.  Economic data weaker than expected included August Industrial Production, August Capacity Utilization, August Housing Starts, August

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Experts don’t recommend setting the asking price for a home too low just to attract more potential buyers who pit an offer on the table; there’s a psychology to home pricing that isn’t easy to figure out, according to the Wall Street Journal.

Mike McCann, a real estate agent with Berkshire Hathaway HomeServices, Fox & Roach in Philadelphia, tells the WSJ that pricing can be “a delicate balance,” as home owners may think their home should sell for more than what’s realistic. Real estate agents might set home prices too high to please their customers – to even land a customer – or they might set them too low for a quick sale, he says.

Getting sellers to start with a realistic asking price is one of agents’ biggest challenges, especially when home

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1.        99 Baylor Dr., Longmont               OPEN SATURDAY 10 – 12  

2.       2239 Eagles Nest Dr., Lafayette  OPEN SUNDAY 12 – 2 PM 

3.       2030 20th St. #1, Boulder                OPEN SUNDAY 2 – 4 PM 

4.       5460 White Pl., Boulder                 OPEN SUNDAY 12 – 2 PM 

5.       1028 Katy Lane, Longmont           OPEN SUNDAY 11 AM – 1 PM 

6.       8733 Portico Ln., Longmont         OPEN SUNDAY 12 – 2 PM

7.       170 Garnet St.,  Broomfield         OPEN SUNDAY 11 AM – 1 PM

8.       3753 Mtn. Laurel Pl., Boulder      OPEN SUNDAY 12 – 2 PM

9.       7290 Oriole Ln., Niwot                    OPEN SUNDAY 1 – 3 PM

10.     337 Arapahoe #103, Boulder       OPEN SUNDAY 1 – 3 PM

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The rich didn’t necessarily get richer after America’s Great Recession but apparently the poor got poorer.

According to Reuters, reporting on a survey released by the Federal Reserve recently, the incomes of the highest-earners increased following the recession but none of the groups the Fed surveyed reached the incomes they had in 2007 six years later, highlighting the deep impact of the recession.

The Fed Board of Governor conducts a large survey of consumer finances every three years, and this most recent one shows that wealth and income is concentrated among the top 3 percent of the richest Americans, Reuter reports.

The average income for U.S. families rose about 4 percent after inflation between 2010 and 2013, the survey showed, with the

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This week on RE/MAX of Boulder Radio, Duane Duggan hosted the CEO of the USA Pro Challenge, Shawn Hunter, and retired pro cyclist,Timmy Duggan.  In recent years the USA Pro challenge has been growing rapidly and becoming an ingrained part of Boulder’s cycling culture. Shawn gave us the inside scoop on the future of the race and its importance in Boulder and throughout Colorado.  

What exactly is the USA Pro Challenge?  It’s the largest pro-cycling challenge in the United States with spectators rivaling that of the Olympic Games.  Though still not as well known as the Tour De France, it certainly is picking up momentum here in the United States as well as other areas of the world, including Europe.  This race is very well supported and it is anticipated

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Fall came early to the Boulder area this year – both in the climate and the residential real estate market.

But that was not surprising to Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association, who expected home sales to enter the fall slowdown a little early.

Boulder-area markets saw 387 single-family home sales in August, a 14.7 percent drop compared with the 450 units that sold in August 2014, and an 18.4 percent decline compared with the 467 units that sold in July.

The 164 condominium/townhome sales last month was an 8.9 percent drop compared with August 2013, but only a 0.06 percent dip from July.

“It looks like what we’re experiencing the anticipated late summer/early fall slowdown, based on the

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Calling Boulder “a hip and healthy town with a hippy past and great views of the Flatirons,” Best College Reviews named it No. 1 on its list of the 50 Best College Towns in America.

Fort Collins was the only other Colorado college town to make the list, coming in at No. 14.

“There are a lot of things that have to click to make a truly great college town,” according to Best College Reviews. “Whether it’s feeling the palpable vibe of an alma mater, having tons to do, or the fact that your college town is a great place to stay after you’ve graduated, we’ve worked to provide you with a quality list of the best college towns in the nation."

Best College Reviews considered a college town’s:

  • Livability
  • Student-to-resident ratio
  • Cultural
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If the time to buy a home was when the cost of renting was skyrocketing, now would be the time.

According to Zillow, Denver renters are putting nearly 32 percent of their income toward rent, while homeowners put only 18.9 percent of their income toward a mortgage.

Denver is among the nation’s top cities as far as the lack of affordability in rental rates, with only 35 affordable units available for every 100 extremely low-income renter households, according to a National Low Income Housing Coalition (NLIHC) affordable housing map. In comparison, 57 affordable rental units are available for every 100 extremely low-income renter households nationwide.

That puts the gap between those renter households – 15,609 – and the number of affordable and

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

Mortgage interest rates increased this past week as markets increasingly believe that the Fed will increase short term interest rates sooner than anticipated just a few weeks ago.  Markets will closely monitor any change in language in the FOMC policy statement next week confirming a rate increase sooner than previously expected.  Economic data was mixed.  Economic data stronger than expected included July Consumer Credit, the August Treasury Budget, August Retail Sales, and the University of Michigan Consumer Sentiment Index.  July Consumer Credit increased to its highest level in three years.  Economic data weaker than expected included the July JOLTS Jobs Opening

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1.        717 Evergreen Ave., Boulder     OPEN SUNDAY 1 – 3 PM

2.       2030 20th St. #1, Boulder                OPEN SUNDAY 2 – 4 PM

3.       1903 Kristy Ct., Longmont             OPEN SUNDAY 2 – 4 PM

4.       2239 Eagles Nest Dr., Lafayette  OPEN SATURDAY 2 – 4 PM

5.       521 W. Hackberry St., Louisville OPEN SUNDAY 1:30 – 3 PM

6.       4742 Chatham St., Boulder           OPEN SUNDAY 11 AM – 2 PM

7.       4839 Country Club Way, Bldr       OPEN SUNDAY 11 AM – 2 PM  

8.       537 Coventry Ln., Louisville          OPEN SUNDAY 12 – 2 PM            

 

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