May 2014

Found 18 blog entries for May 2014.

By Jessica Shanahan, Premier Lending LLC .

Mortgage interest rates improved slightly this past week as economic data was mixed.  Economic data stronger than expected included April Durable Goods Orders, the March Case Shiller Home Price Index, weekly jobless claims, and the May Chicago Purchasing Manager’s Index.  The purchasing manager’s index reached its highest level since March of 2011.  Economic data weaker than expected included the March FHFA Home Price Index, the second look at Q1 GDP, April Pending Home Sales, April Personal Income and Spending, and the University of Michigan Consumer Sentiment Index.  Q1 GDP fell 1.0%, its first decline since Q1 2011.  The Treasury auctioned $95 billion of 2 Year Notes, 5 Year Notes, and 7 Year Notes which

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1.       3171 Nelson Road, Longmont – OPEN SATURDAY 10 AM – 1 PM 

2.       2515 W. 108th Avenue, Westminster – OPEN SATURDAY 11 AM – 1 PM

3.       13631 Telluride Drive, Broomfield  - OPEN SUNDAY 2 – 4 PM 

4.       4721 Raven Run, Broomfield – OPEN SUNDAY 1 – 3 PM

5.       7266 Siena Way, Boulder – OPEN SUNDAY 12 – 2 PM 

6.       2328 Norfolk Street, Erie – OPEN SUNDAY 2 – 4 PM

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By Kaitlin Krug-Byrd

It’s no surprise that housing prices have been appreciating with significant velocity, especially in the past couple of years. However, there seems to be a few recurring questions that buyers and owners are still asking:

1. Is the Growth Sustainable?

Experts say, yes! Although we saw sharp appreciation reaching the double digits in some locations last year, the growth rate seems to be naturally curbing off. According to a survey by Pulsenomics, over a hundred experts predict an average of 4.4% appreciation in home prices in 2014, and will slow to 3.4% by 2016, which is comparable with the historical average of 3.6%. The predicted steady growth is good news for the U.S. housing market.

2. Is Now a Good Time to Buy?

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By Jessica Shanahan, Premier Lending LLC

Mortgage interest rates improved slightly this past week as economic data was limited. Of note, April

Existing Home Sales were slightly weaker than expected and April New Home Sales were stronger than

expected. Existing Home Sales were down 6.8% year over year and New Home Sales were down 13.3%

year over year. Weekly jobless claims increased more than expected to 326k on expectations of 310k.

On Sunday, Ukraine holds its presidential election. Markets will closely watch whether the results of the

election lead to increased tensions between Ukraine and Russia. In China, the preliminary purchasing

manager’s index for May increased more than expected but still indicates contraction. Markets

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1.        4095 Bimini Court, Boulder – OPEN SUNDAY 1 – 3 PM 

2.       2625 6th Street, Boulder – OPEN SUNDAY 1 – 3 PM

3.       3575 Cloverleaf Drive, Boulder – OPEN SUNDAY 1 – 3 PM 

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By Jessica Shanahan, Premier Lending LLC.

Mortgage interest rates improved this past week as economic data was mainly weaker than expected.  Economic data weaker than expected included April Retail Sales, April Import and Export Prices, March Business Inventories, the May NAHB Housing Market Index, April Industrial Production, April Capacity Utilization, and the University of Michigan Consumer Sentiment Index.  Economic data stronger than expected included weekly jobless claims, the May New York Empire State Manufacturing Index, the May Philadelphia Fed Business Index, April Housing Starts, and April Building Permits.  The strength in starts and permits, though, appears to be in multi-family units versus SFR’s.  Jobless Claims fell to their lowest

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With inventory at a historic low, Steve Altermatt of RE/MAX of Boulder explains how real estate agents handle multiple offers, an aspect that has become the norm throughout Boulder County.

Altermatt reports 71 properties currently listed in South Boulder; a figure that is half of what is typical for this area. As for the number of homes under contract, Altermatt reports 12 weeks so far this year with 50 percent of inventory under contract; 2009 had just six weeks with under contract percentages above 30 percent. The REALTOR reports scheduling 44 showings on the first day of showings for one of his South Boulder listings. Though this number is high, it’s not uncommon to have offers coming in the first day on the market from multiple buyers including

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1.       1238 Lanyon Lane, Longmont – OPEN SAT 2 – 4 PM 

2.       2860 Links Drive, Boulder – OPEN SUN 1 – 4 PM 

3.       1850 Folsom #304, Boulder – OPEN SUN 12 – 2 PM 

4.       4095 Bimini Ct, Boulder – OPEN SUN 1 – 3 PM 

5.       9513 W. 89th Cr., Westminster – OPEN SUN 12 – 2 PM

6.       710 Copper Lane #105, Louisville – OPEN SUNDAY 12 – 2 PM 

7.       1460 Zinnia Circle, Lafayette – OPEN SUNDAY 11 AM – 1 PM 

8.       354 Hollyberry Lane, Boulder – OPEN SUNDAY 12 – 2 PM – Chris Carter

9.       820 Tenacity Dr., Longmont – OPEN SUNDAY 2 – 4 PM

10.   209 Saint Ida Circle, Lafayette – OPEN SUNDAY 1 – 3 PM

11.   102 Pine Tree Lane, Boulder – OPEN SUNDAY 12 – 2 PM 

12.   792 Pine Brook Road, Boulder – OPEN SUNDAY 12 – 2

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The Boulder-area real estate market saw substantial improvement across the board in month-over-month sales and inventory for both single-family and attached homes, which could bode well for the summer buying season.

“April was a very, very good month for the area real estate market,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association. “We certainly hope this trend continues at least into summer. We are having a pretty active start to this year’s buying season.”

Single-family home sales increased 29.9 percent in April – 352 units – compared with March’s 271 units. The 140 condominiums and townhome that sold in April represented a 45.8 percent increase from the 96 units that sold in March.

And while

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A market with a tight supply of homes for sale and even tighter credit is not the most attractive or easiest for first-time home buyers.

According to Money Magazine, student debt is at an all-time high of nearly $30,000 per graduate, making efforts to save up for a down payment difficult, says David Stevens, president and chief executive officer of the Mortgage Bankers Association.

However, the time is still right to buy real estate.

“Interest rates remain the envy of even your grandparents," says Keith Gumbinger, vice president of mortgage publisher

Here’s a checklist from Money for potential first-time home buyers to get on the straight-and-narrow road of home ownership:

One year in advance

  • Ensure the time is right. Use

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