RE/MAX of Boulder News

Boulder-area home sales improved in February 2017, as sales jumped substantially in condo/townhomes, single-family home inventory rose, and prices moderated slightly. But inventory continues to be far lower than a healthy market requires.   

“It’s the same old song, inventory – or the lack of it – is driving a lot of the numbers,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

Hotard is hopeful that homeowners considering selling will decide to move as the spring real estate season approaches.   He says “we're seeing the beginning edge of that as some of the inventory numbers have gone up.”

In condominiums and townhomes, Boulder-area sales grew 36.8 percent month-over-month – 78 units vs. 57 in

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Published in the At Home section of the Boulder Daily Camera on March 17, 2017

RE/MAX of Boulder was named No. 1 single RE/MAX office in the U.S. for 2016 sales volume, marking the eighth time the company earned the No. 1 ranking.

The award was presented at the recent annual international RE/MAX convention held in Las Vegas, NV, attended by more than 6,000 agents and brokers from 60 countries.

“We are thrilled that the hard work and dedication of our more than 100 Realtors has been recognized,” says Jay Kalinski, RE/MAX of Boulder broker/owner who accepted the award. “Serving the community of Boulder Valley – the community I grew up in – means so much to me and my family. This award represents the many friends, neighbors and newcomers that RE/MAX

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Did you ever notice that there seem to be so many new apartment buildings in the Boulder Valley and Denver (perhaps too many) and only a miniscule amount of new condo buildings? If you are in the market for your first home, or downsizing to your last, I bet you have noticed this phenomenon. I am here to tell you that you are not crazy. There is an explanation and a solution.

Anyone who is even casually familiar with the real estate market in the Boulder Valley, like much of Colorado, knows that it is characterized by two features: lack of inventory generally and lack of affordable homes specifically. Most people do not know, however, that correcting the imbalances in the construction-defects law would help ameliorate both conditions, and it’s within

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When I talk with first time real estate buyers the number one reason they don’t buy a home of their own is the hurdle of the down payment. This article will explain several ways that a new home can be purchased with much smaller down payments than the typical 20% and some ways you might be able to raise the funds for your down payment.

1. The Traditional. Ask your parents or other relatives for a gift of cash to go toward your down payment. Worst thing that can happen is they say ‘No’, which is why there are more suggestions below.

2. The Seems Obvious. Save your money. No Starbuck’s Carmel Frappuccino, no cable or satellite TV, shop for cheaper car insurance, keep the entertainment budget low and strict, forget about vacations. You get the idea.

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This article was featured in the Aging at Altitude insert in the Boulder Daily Camera published on Sunday, February 26, 2017. Our Managing Broker DB Wilson and Broker/Owner Jay Kalinski are both quoted in the article. Read, enjoy, and share.

 

 

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As 59 million people nationwide consider becoming home buyers this year, real estate prices have soared to record highs and inventory continues to be in shorty supply, making the path to owning a home in America increasingly challenging. Many of those would-be buyers, older millennials and Generation X members ranging in age from 27 to 52, show ‘more willingness’ to buy a first home or trade up to a new home, according to a recent survey by Bankrate.com.

Here in Boulder County, home price appreciation is commonplace, where the last five years saw a 49 percent increase in the average price for a single-family home, according to the Boulder Valley Real Estate Report published February 2017 by RE/MAX of Boulder.

The trend of rising prices extends

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January home sales confirmed expectations that local Boulder real estate sales would come out of the gate slowly in 2017.

Single-family home sales for Boulder, Colorado rose 1.9 percent in January – 218 units sold compared with 214 units sold in January 2016. Month-over-month, January 2017 sales dropped 2.6 percent compared to December's 224 units sold.

In condominium/townhomes, 57 units sold in January, an 18.8 percent improvement compared with 48 units sold a year ago, but a 51.3 percent drop compared with the 117 units sold in December.

"The relatively slow start was expected. It's just a fact that Boulder County home sales will continue to be influenced by low inventory and high demand in all market areas and categories," explains Ken Hotard,

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Our office experts 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 in new

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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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