Hot Spring Real Estate Market

I have always reported that the spring real estate market is a hot time to sell and this year is the most incredible seller's market I have ever seen. Even with stock market uncertainty, interest rate increases and concerns about inflation, buyers in the current market are extremely active and have a high sense of urgency. The local real estate market not only continues to see multiple offer situations and sales above full price in many instances, but the trend is accelerating. In every area of Boulder County right now-average prices are going over 100% of list price. Check out the PDF link below to see the latest Boulder county housing stats.

Boulder County CAR.pdf

Download PDF • 66KB

The number of available homes on the market is down 40% from this time last year and inventory last year was historically low. The inventory of available homes is traditionally building this time of year towards a peak in June/July, but as Spring is upon us, the inventory remains at or below mid winter levels. My theory as to why there is such a lack of available homes is that many home owners are hesitant to put their property on the market because they are not confident that they will be able to find a replacement property to purchase. Also, the longer they wait, the more the value of their property increases. Whatever the reason, it is a great time to be a seller. Buying your replacement home before selling your present home is a good move in the current market. I can help you plan a strategy for how to finance such a purchase or how to become a cash buyer through creative financing. If buying before selling simply doesn't work for you, I've got another strategy. Listing now does not mean you have to move right away. Buyers are flexible with terms and are generally willing to offer the sellers a rent back. They simply want to lock in a purchase. Please contact me to discuss how to make the current market work for you. I can help you plan a strategy for how to buy, sell or both. Best, Rich

It's cold. It's snowy. And home buyers are out in force!

Strong buyer demand is driving quick sales and multiple offers are the norm. What's going on? The first few months of the year are traditionally dominated by a high sense of buyer urgency. That's been boosted lately by a lack of available homes on the market. Also, interest rates have risen recently and buyers are trying to lock in the lowest rate possible before they go any higher. Many sellers list in June because they feel the house shows better once things green up and they don't want to move during winter. But with so many buyers out now, it's worthwhile to get on the market and take advantage of the imbalance due to limited inventory. With less competition, sellers will likely net a better price. Listing now does not mean you have to move right away. Buyers are flexible with terms and are generally willing to offer a rent back of up to 60 days; they simply want to lock in a purchase while they can. Whether you are buying or selling in Boulder County, it's important to have an experienced and committed agent on your side. Contact me to better understand your opportunities in the current market. Best, Rich

Quick Market Update

2022 marks my 28th year in real estate. I couldn't have made it this far without you and it has truly been a privilege working with you! In looking ahead at what my 28th year might look like; I can only guess it's going to be interesting. Since RE/MAX of Boulder began tracking Boulder County home values in 1978, annual appreciation has averaged 5.85%. In 2021, the median price of single-family homes in Boulder County increased 27.6% and attached dwellings were up 10.5%. Boulder County continues to be rated one of the most stable real estate markets in the country. In the context of other investments – stocks, bonds, crypto-currency, etc. – buying REAL property in Boulder County rises to the top as a powerful and stable way to build wealth.  It has been my observation over the years that the best time to buy real estate in Boulder County is always 6 months ago, so if you are considering buying, think sooner rather than later. After 10 straight years of rapid appreciation, the Boulder County real estate market accelerated at an unprecedented pace in 2021, with high demand and lagging supply. At this point, these forces are now even more at play following the devastating fires in Marshall, Superior and Louisville. With interest rates still near historic lows and continued buyer demand, home prices will continue to go up in 2022. If you’re going to sell this year, the first quarter is traditionally an excellent time to be on the market. Buyers have a high sense of urgency in the first quarter and I’m already seeing quick sales with multiple-offer situations. I’m optimistic about our market in 2022! I hope I’ll have the opportunity to put my experience and passion for real estate to work for you – whether it’s all-around service or just some straightforward advice. Contact me today to help you brainstorm goals or talk through any options you may be considering – upsizing, downsizing, remodeling, venturing into income property, purchasing a 2nd home outside of Boulder County or leveraging your investments to increase your holdings. Also, please know that I always have time for your friends, family and co-workers and greatly appreciate your referrals. I promise to provide outstanding service that will make us both look good. Best, Rich