RE/MAX of Boulder Real Estate Blog

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 mainly stronger than expected.  Economic data stronger than expected included April New Home Sales, the April Trade Deficit, the March FHFA Home Price Index, Jobless Claims, April Durable Goods Orders, and April Pending Home Sales.  New Home Sales had their largest increase since 1992 and reached their highest level since the beginning of 2008.  Economic data weaker than expected included the May PMI Manufacturing Flash Index, the University of Michigan Consumer Sentiment Index, and the second look at Q2 GDP.  Q2 GDP was revised upward to +0.8% on expectations of +0.9%.  The Treasury

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4876 Darwin Ct., Boulder                              OPEN SATURDAY 11:30 – 1 PM                   Muller/Hickey                 

487 Dakota Blvd., Boulder                            OPEN SATURDAY 12 – 2 PM                         Meko/Sheene                 

717 Evergreen Ave., Boulder                       OPEN SAT. & SUN. 12 – 2 PM                         Lynn Ryan                                            

1708 Elis Cr. #30, Lafayette                          OPEN SATURDAY 1:30 – 3 PM                     Muller/Hickey                  

1330 9th Street, Longmont                            OPEN SATURDAY 11 AM – 1 PM                 Grotluschen/Donahue   

 

967 Terrace Cr. S., Boulder                          OPEN SUNDAY 12 – 3

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Fueled by demand, Boulder-area 2016 home sales increased for the month of April, while prices continue to rise in most of the area-markets and inventory remains tight.

Even so, year-to-date sales for 2016 lag last year’s robust statistics when compared year-over-year. And that trend is expected to continue, according to Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

“Typically, sales increase over the four-month period beginning in March. We’re seeing that happen in the Boulder-area markets and expect to see it continue through July,” said Hotard.

Sales of single-family homes in Boulder County markets increased by 15 percent in April 2016 compared to March 2016 with 361 units sold versus 314.

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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 the Fed indicated in its April FOMC Minutes that a rate increase is likely at either its June or July meetings.  The Fed indicated that any rate increase will continue to be data dependent, though.  Economic data was mostly stronger than expected.  Economic data stronger than expected included the April Consumer Price Index (CPI), April Housing Starts, April Building Permits, April Industrial Production and Capacity Utilization, April Leading Economic Indicators, and April Existing Home Sales.  CPI increased the most in three years, Leading Economic Indicators increased the most in 12 months, and Existing Home

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The Boulder Valley’s strong seller’s market continued throughout the first quarter, but signs of hope for buyers have begun to emerge.

Since 1991, Boulder has appreciated more than any other metropolitan area in the country. In fact, the average home in Boulder County has appreciated a whopping 303.62 percent in the past 24 years. Last year, Boulder County ranked seventh nationally for home-price appreciation with a 13.2 percent increase.

Anyone participating in the housing market understands that we have been in a strong seller’s market for some time, and that trend largely continued in the start of 2016. In the first quarter, the average sale price of a single-family home in Boulder County appreciated by 8.8 percent over the first quarter of 2015.

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In Boulder County’s competitive real estate market, before you search for the house of your dreams it is critical to prepare yourself mentally as well as financially.

Buying a home is one of the biggest financial decisions made during a lifetime, and this spring’s market, with too few homes for sale, rising prices and multiple offers on properties, adds to the already high pressure of home buying.  

To keep your decisions sound, buyers need to balance being flexible with not compromising. For insight into that all-important balancing act, here are Realty Times five pitfalls to avoid when buying a home this spring:

1. Not seeing the possibilities

In a seller’s market, houses may not be prepped for sale as thoroughly as you might expect. Look

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Home prices in Colorado hit a new peak in March with a 10 percent year-over-year increase, according to the latest Home Price Index report by CoreLogic, a leading provider of global property information and analytics.

One of 12 states to reach new home price highs, Colorado is joined by Washington, Oregon, Alaska, Hawaii, Nebraska, Oklahoma, Texas, Louisiana, Tennessee, North Carolina and New York.

And the upward trend is expected to continue. Projections show Colorado prices adding another .8 percent in April 2016 and 5.7 percent through March 2017, according to CoreLogic.

Nationwide, home prices gained 6.7 percent year-over-year and 2.1 percent from February to March 2016. Prices are expected to rise 5.3 percent from March 2016 to March 2017.

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

Mortgage interest rates were flat on the week as economic data was mostly stronger than expected.  Economic data stronger than expected included the NFIB Small Business Optimism Index, March JOLTS Job Openings, April Export Prices, April Retail Sales, March Business Inventories, and the University of Michigan Consumer Sentiment Index.  Retail Sales increased 1.3%, the largest gain since March of 2015.  Economic data weaker than expected included March Wholesale Inventories, Jobless Claims, April Import Prices, and the April Producer Price Index (PPI).  PPI was up just 0.2% in April and was unchanged year over year.  The Treasury auctioned $62 billion of 3 Year

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1242 Doris Cr., Erie                                      OPEN SATURDAY 12 – 2 PM                 Rich Gribbon          

300 W. Beacon Hill Dr., Lafayette                  OPEN SATURDAY 1 – 3 PM                   Dale Pearson         


1270 Oakleaf Cr., Boulder                            OPEN SUNDAY 11 AM – 2 PM              Lynn Ryan        (information coming soon)

1621 Stone Canyon Rd., Lyons                     OPEN SUNDAY 12 – 2 PM                    Lydia Waskul          

1927 Pine Street- B, Boulder                        OPEN SUNDAY 1 – 3 PM                      Digger Braymiller  (information coming soon)

4332 Clay Commons, Boulder                      OPEN SUNDAY 1 – 3 PM                      Mike Bader        

2942 4th St.,

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Boulder is taking honors for being green, claiming the No. 6 spot in the Best Green Cities for Families analysis performed by SmartAssest, a financial technology company.

The analysis ranked 327 of the largest cities in the U.S. on metrics that reflect environmental friendliness and family quality of life.

Falling in with such green and great places to live as Honolulu, HI and Ann Arbor, MI – Nos. 1 and 5, respectively – Boulder was noted for the “admirable” goal of becoming a zero-waste community by 2025, which requires that the city divert and reuse 85 percent of all waste. Currently, Boulder diverts about 34 percent of waste, according to SmartAsset.

Boulder also rates well for the percentage of commuters who get to work by some form of

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