Why Now is Actually a Good Time to List

Strong buyer demand is driving quick sales and multiple offers in some cases. 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 drop in interest rates. Buyers are out in force, trying to lock in the lowest rate possible. Many sellers list in June. But with so many buyers out now, it's worthwhile to get a jump on that rush. With less competition, sellers will likely net a better price. In addition, I'm predicting the market will slow down as the election heats up this summer. Many buyers may sit on the sidelines to wait and see what happens. Listing now does not mean you have to move right away. Buyers are flexible with terms; 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. Call me to better understand your opportunities in the current market.

Millenials Love Colorado

Interest rates have edged up this year. The 30-year fixed rate is currently 4.75%, compared to 4.0% a year ago. Regardless, the real estate market in Boulder County remains strong. The number of sales so far this year are nearly identical to last year. In the city of Boulder specifically, the number of sales are slightly higher.  

Millennials love Colorado. It's currently the #3 state for Millennial relocation, with four cities in the top 25 destinations nationally.  Favorites include  Denver (#8), Fort Collins (#17), Colorado Springs (#20) and Thornton (#25). 

Boulder County cities are less popular among Millennials, and this is likely an affordability issue. We've been hearing about the "graying of Boulder" for years, but again, activity is high. Rising interest rates certainly impact first-time buyers more. It will be interesting to see if higher interest rates eventually slow things down. I'll keep tabs on the stats and let you know what I see.

If you want to discuss current market trends and ways to make the market work for you, p lease contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a wonderful summer. - Rich

Thoughts on The Year Ahead

Since 2013, fierce buying competition has dominated the Boulder Valley real estate scene. Demand has far exceeded the supply of homes, town homes, condos and investment properties on the market. A strong economy, robust job market, influx of new residents and low interest rates have driven these conditions. With all of these factors, the first quarter of 2017 shows no signs of waning.

The 30-year fixed interest rate is currently at 4.5%, which is .5% higher than a year ago. Rates will likely increase more this year, but they are still near historic lows.

Intelligence in a seller's market yields better outcomes for everyone. Kicking off my 24th year in the business, I'm very proud to have helped so many buyers find, negotiate and successfully purchase homes here in Boulder County. I've also helped many sellers maximize their opportunities by offering measured guidance that results in low-drama, high-yield sales.   

It is very easy to make mistakes in a fast-paced market. In 2017, it continues to be very important for both sellers and buyers to put experience on their side. Questions? Ideas? Please call me anytime.