2019 Boulder County Market Data

Trying to figure out if you should buy or sell this year? Well, you know the line is, "The best time to buy real estate is yesterday." Still, it's good to get some context so you know what to expect. Let's start with the number of listings on the Boulder MLS for the past six years:

The graph above shows the listings climbing over the last few years. You can also see the seasonal swing of the market with the largest inventory available in the summer. Still, people buy and sell all year long. If you're a buyer in the winter this could mean less buyers to compete against and possibly price discounts.

Drill down to just the past year to see the inventory at all of the price ranges. The glut of the properties sit between $350,000 - $700,000. It was also clearly a seller's market with 1-3 months of inventory, except for luxury homes over $2,000,000. A balanced market is typically 4-6 months of inventory, which we haven't seen in most Denver metro markets since the recession.

I rely on stats to confirm my gut - there's no substitute for actually getting into houses and knowing the market one works in. Being part of a large brokerage firm and hearing my colleagues' experiences gives me a hyper-local perspective. I know which areas are still seeing higher appreciation and which would be the most vulnerable in a recession, which would be most affected by new oil and gas rules and which have strict building codes. And if you ask a question I can't answer I have 120 other agents to talk with. Let me know if I can send you any additional information!
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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FOR SALE: 4 Carla Circle, Broomfield

A great combination of a quiet neighborhood and active community! Gate 'N Green is a 55+ gated community on Main Street in Broomfield with trails, pool and hot tub, activities and trips. Enjoy a cup of coffee on the patio or take a stroll around the pond!

This home boasts 2260 sqft with a sunroom in the center. 3 bedrooms, 2 baths with a walk-in shower in the master, 2 car attached oversized garage for a workshop and a ton of storage. It's also at the west end of the complex so there's plenty of elbow room. Plenty of natural light, an updated electrical box, new roof and all appliances stay. Broomfield is a great location, a short ride into either downtown Boulder or Denver. The city is also making plans to construct a civic center at Main Street and 1st Avenue. Designs are in development, you can check progress HERE.

If you'd like to see it in person, give me a shout. I'm only a few minutes away and would love to let you into your new home!
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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Colorado Gives Day 2019

I like the idea of putting dollars back into the communities from which my business comes. I'm grateful for my client support and have compiled a list of some of their favorite non-profits. For 2019, I was able to make donations to Moving to End Sexual Assault, the Humane Society of Boulder Valley, and St. Jude Children's Research Hospital. That last one isn't local, but one of those commercials caught me off-guard one day and the kids were so dang cute. The Sarah McLachlan one came on, too, hence the Humane Society.

Thank you again to everyone for your business and referrals! I am grateful to be in a position to help people doing good. :)
 

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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Your Go-To Book for Service Providers

I've been a member of the Boulder Area REALTOR Association since I got my license a decade ago and have served on the Board of Directors for the past couple of years. Not only are they a phenomenal support for their agent members, but they are a great resource for homeowners. If you find yourself in need of service provider, their affiliate members will jump at the chance to help you. Check out their go to book for everything from architects to cleaners. 

If you don't see what you need there, shoot me a text or email - I've built a resource manual from companies that my team and I have worked with over the years. They are responsive and professional, ready to get your job done!
 

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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The Homeowner's Guide to HOAs

If you’re house hunting for the first or fifth time, and aren’t familiar with the concept of HOAs, let me know! I am an Accredited Buyer’s Representative (ABR®) and can walk you through the entire home buying process, including what you need to know about HOAs.  
 

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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iBuyers - Market Disruptor or Just Another Business Model?

Every few years in the real estate industry, something comes along that throws everyone into a bit of a tizzy. From public online listing portals to flat rate listing fee companies, the push to be more competitive and incorporate new tech is driving innovators and forcing traditional brokerages to rethink their business models.

Ug from HomeVestors

This decade's disruptor is the iBuyer. It's not a new idea - companies that buy properties directly from home owners have been around for a while, finding "ugly" houses and flipping them for a profit, no real estate agent needed. But the launch of Opendoor in 2014 has changed what it looks like and what the gains are for the purchasing corporations. Several companies have followed in the past few years - Zillow's Instant Offers, Perch, Redfin Now, to name a few - and are offering sellers another option to the traditional sale process.

The process looks like this. A homeowner can go to a company's website and click to solicit an offer to purchase. Answer some questions about the property, upload some pictures, and within 24 hours get a response. So far, I've done this with three properties, one of them my own home, and four of the iBuyer companies. Two declined to put an offer in for the properties that were already listed in the MLS. One was rejected because the company wasn't operating in Superior yet. Another was passed on because they couldn't find enough relevant comps to feel confident in an offer price. But in the end I did receive one offer on a listing in Broomfield and another on my own home.

My Broomfield listing received an offer almost 6% under the current listing price. The service charge for the sale was 6.3%, which is high for the Denver metro area, although these fees are not standard and always negotiable. The iBuyer company will do an inspection on the property once they are under contract, and any repairs they feel need to be completed will be subtracted from the offer price. The seller can decide when they want to close, I've heard anywhere from 1 week to 3 months. The offer on my home, also in Broomfield, was 8% under market value, with 6% in fees. They gave me the comps that they used to evaluate, and while two were fine the other three were different enough to argue that they should've been omitted.

Photo by Eric Allix Rogers

Right now, these companies are largely operating in cities where the housing stock is priced under $400,000 and homogenous enough where the automated valuations are fairly accurate. You can see market activity on this map. They aren't looking for fixer-uppers, but for mostly turn-key properties that they think they can turn around and sell fairly quickly. They aren't making money on the resale - no fix and flips - and are often selling for close to what they paid for, sometimes even less. They are making money on their fees, which in some places can go up to 14%. More importantly, they are buying market share and looking for future leads.

The pros for a potential home seller? Convenience and speed. No showings, no loan approval, no emotional buyers, pick your closing date. The cons? Very often less money in your pocket. Not being local or ever seeing your home in person, the values aren't as accurate as a local expert. Not getting advertising through the MLS and public websites means that you can't know for sure what your property could've commanded with adequate market exposure.

Conclusion? Just another business model. As a Realtor, I certainly have to pay attention to how the market responds to this and continue to provide value through my services and expertise. For some sellers, this service may be just what they need. But for most, I don't think that this approach will replace a competent Realtor. 
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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How Much Does It Cost to Paint a House in 2019?

One of the priorities of my business is education, both for myself, my clients and the community. The National Association of REALTORS (NAR) shares great articles with its members. Contact me if you'd like some referrals to terrific local painters!

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  How Much Does It Cost to Paint a House in 2019?

  Painting your home is a wise investment in time (if you DIY) and money. Here’s how much it’ll cost you. Read

Visit houselogic.com for more articles like this.

Copyright 2019 NATIONAL ASSOCIATION OF REALTORS®

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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