2024 Summer Market Update

The summer real estate market is in full swing and this year there are more choices for buyers. Higher interest rates have caused a slow down in the Boulder County real estate market and properties are staying on the market longer as a result. Having more time to make a purchase decision is a welcome change for buyers after years of our market moving so rapidly. There are always opportunities in any real estate market and in the current market there are ways for buyers and sellers to work around the higher interest rates. Sellers can pay loan closing costs on behalf of buyers which results in a lower interest rate for the buyer and results in a sale for the seller - a Win-Win Situation!

Please contact me to today to discuss how to make the current market work for you- whether you are buying, selling or investing!

All the best,

Rich

Sanitas View Model Unit Available to Tour!

I’m pleased to announce that the model unit at Sanitas View is completed and ready for tours! We will be having open houses every Saturday and Sunday in June from 11am-1pm. Come on by to take a look at this great development! The Sanitas View model is located at 3315 Broadway at the corner of Broadway and Hawthorn.

I am representing the developer of Sanitas View along side my co-listing agent Lynn Ryan. Sanitas View is Boulder's newest upscale project and consists of 13 luxury townhome style units each with individual, enclosed & private west facing backyards. All units have an attached one car garage + carport, EV chargers, solar panels and options for a roof top deck & elevator. There are two unique floor plans to these lock & leave, sleek, modern units. All units have spectacular views of Mount Sanitas from all levels and some also have Flatirons views. There are beautiful finishes and design details throughout - all units feature skylights, smooth drywall, wide plank white oak floors and a modern gas fireplace in the living room.

These units are a great fit for anyone who is looking to simplify and embrace a lock & leave lifestyle. The location is incredibly convenient at Broadway & Hawthorn in North Boulder with easy access to open space trails, the Ideal Market area shops and Downtown Boulder.

If you are considering downsizing, simplifying, splitting your time or have a family member moving to Boulder, Sanitas View is an excellent option. Please stop by an open house or reach out to me for your own personal tour.

Thanks and All The Best,

Rich

NAR Class Action Lawsuit Update

There have been a lot of headlines recently about the Class Action Lawsuit against the National Association of Realtors (NAR) and a potential settlement that has been reached. We won't know until July if this settlement will actually be accepted as it is currently outlined, but here is my take on what all this means:

As part of the settlement, NAR will no longer require seller's agents to offer compensation to Realtors who represent buyers. I'm getting a lot of questions about whether the settlement will result in drastic changes to the real estate industry as many headlines indicate. I don't believe that the settlement will eliminate commissions and reduce the cost of real estate, as some of the news stories are reporting. Most buyers want to be represented by a buyer's agent who is their advocate and buyer's agents want to be paid for their efforts. The big change is that buyer agents will no longer be able to assume that a seller and/or listing brokerage will pay their commission. As a result of the settlement, there will need to be more conversations about commission rates and whether they will be paid by sellers or buyers in any given transaction. In most situations, I believe sellers will still offer a commission to buyer's agents in order to help get their home sold. In some situations, there may be more negotiation that results in a lower commission and in some cases it will result in a higher commission.

Here is an article from a real estate industry perspective that goes into greater detail about how the settlement will affect the real estate industry. To read the full article, click here.

If you have any questions about my take or the above article, please contact me to discuss this subject in greater detail. Thanks.

Rich