Boulder County 1Q20

Today Governor Polis is easing up on some virus restrictions, allowing retail businesses to conduct curbside pickup and real estate agents to schedule in-person showings, all with masks, gloves and social distancing guidelines. Most counties in the area, except for Boulder county, are extending their stay-at-home order until May 8, though. Of course, these restrictions are greatly affecting the real estate market, with the showing dip beginning at the end of March.

March showings are just above the 7-year low

First quarter was promising another busy spring

Despite showings only being allowed virtually, houses at the entry level under $450,000 are still seeing a lot of interest. My listing in north Westminster got 3 offers in 2 days before anyone had even set foot in the property. Pent-up buyer demand seems to indicate that our busy spring season will be pushed to late summer. If you have any questions about how to navigate this odd market, don't hesitate to reach out!

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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: 13287 Vallejo Ct, Westminster

Don't miss this adorable ranch in Amherst! Located on a cul-de-sac and just a couple of minutes from amenities and schools, this home has 3 bedrooms up, main floor laundry, master bath with walk-in closet, and attractive laminate floors throughout. There are 2 additional bedrooms in the basement with family room. The bathrooms have been updated and the HVAC and water heater are only 4 years old - plenty of life left!

The current seller replaced the old windows a few years ago with double pane vinyl and has been working her way through the house replacing the flooring and painting as she goes. The solar panels were installed just a couple of years ago, are owned, not leased, and come with a lifetime transferable warranty. Vaulted ceilings, stainless appliances, pantry with roll out shelving and plenty of storage round out the interior.

The best feature of this home is the large, covered patio in the back. Facing west, you can sit in the great Colorado weather and enjoy the sunset or entertain friends around the firepit. If the evening gets too warm, close the curtains that surround the patio. Some of the patio furniture is for sale, so if you'd like it to stay please inquire.

Priced well at $429,000. We've had a lot of interest in it already, so if you would like to schedule a virtual tour let me know ASAP!
  

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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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REALTORS® Relief Foundation

The RRF was launched immediately following the terrorist attack on 9/11 when it raised more than $8.4 million to help the survivors stay in their homes. Since then, REALTORS® have raised more than $32 million to provide housing assistance for victims of disasters such as tornadoes, wildfires, hurricanes and floods. The National Association of REALTORS® pays all of the administrative fees associated with this assistance so that 100% of the donations can go to families in need.

NAR is paying close attention to the current health crisis and continues to advocate for homeowners. RRF has not had any requests for relief in regards to Covid-19, but the REALTOR Political Action Committee (RPAC) is working closely with legislatures on the local, state and national levels to allow buyers and sellers to continue toward closing their transactions. As a supporter of RPAC and member of the Boulder Area Realtor Association Board of Directors, I have the most current updates on how the market is changing, so don't hesitate to reach out if you have any questions.

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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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What To Do If You Can't Pay Your Mortgage Because of Coronavirus

COVID-19 has caused companies across the U.S. to close temporarily and to furlough or lay off employees. Even with unemployment benefits and direct payments from the government, families may still struggle to make ends meet. That has many homeowners knowing they won’t be able to pay their mortgages and wondering what to do. If you can't pay your mortgage because of the virus, check out this article of resources.
  

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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: 12530 Utica St, Broomfield

Willow Park is in a great Broomfield location! Travel a minute south to restaurants and shopping convenience, or head the other way and take a jog on the Broomfield County Commons trails. Ride your bike over to enjoy vendors, music and fireworks on July 4! It's also midway between US-36 and I-25 for easy commuting.

This nicely maintained home greets you with a working fountain on the front patio. Enter and admire the freshly refinished hardwood floors and Hunter Douglas blinds throughout. There are four bedrooms up and an office on the main so no one has to sacrifice space. Lots of extras to enjoy, all for $619,000, including a stamped patio and retractable awning in the backyard, solar panels, newer A/C unit, hallway sensor lights, loft, and large master bedroom with 5 piece bath and walk in closet. The house is just a couple of blocks from one of the neighborhood parks and the HOA fee for common amenities maintenance is only $96/year.

The basement has been finished and boasts an in-law apartment - very comfortable living for your parent or young adult. Plenty of storage in this over 4100 square foot house, including an unfinished basement area, shed and 3-car garage. The security system lease is transferable to the new buyer.

Because of state restrictions, open houses and in-person showings are not currently allowed. You can virtually walk through the home HERE, and feel free to reach out with any questions. We are accepting offers from serious buyers with a pre-qual letter, and requesting an in-person visit during the initial inspection period after going under contract. While we are anxious to get back to business as usual, we want to keep everyone as safe as possible while still meeting the public's real estate and financial needs. If there's anything I can help with during this crisis, please don't hesitate to contact me. Stay healthy!
  

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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 In-Person Notary Requirement Suspended

Over the weekend, Governor Polis suspended the requirement that notarial officers be physically present to perform notarizations. This will allow real estate closings to move forward remotely, keeping buyers, sellers, agents and closers safer during this covid-19 crisis.

Right now, the order is temporary, but perhaps this will lead to a permanent change. Colorado is one of the few states in the nation that still closes with all parties at a physical table together; most states close "in escrow" when all of the conditions are fulfilled. I kinda' like table closings, I find that the buyer and seller appreciate meeting one another, seeing who is going to live/has lived in their home. Especially if the transaction has been rather acrimonious, this can be a chance to humanize the other party and leave the experience feeling more peaceful. Even so, having more options for closing is always better. Sometimes people have scheduling issues that can make it difficult to leave work for closing, or even physical challenges that can limit their ability to travel. Either way, the title companies I work with have been on top of this, lobbying for necessary measures and communicating regularly to their clients.

Please stay healthy, and let me know if I can answer any questions for you during this strange time!
  

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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 is Real Estate Faring During the Coronavirus?

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________________________________________ Standing Strong With You Coronavirus and Real Estate Update Today we’re in uncharted territory. The full impact of the coronavirus pandemic is yet to be known as it surges through our daily lives, schools, workplaces, businesses, and communities. While the situation unfolds, the plunging stock market and global market volatility are hitting hard – and more swings are expected. But let’s pause to take stock. Thinking back to 2008, the financial crisis was sparked in the real estate sector and led to a banking crisis. However, today, our economy and housing market are far stronger and more resilient.  Our economic fundamentals are solid, and as a nation, we have seen the longest economic expansion in history since WWII. Moreover, we are not experiencing the same weaknesses in the housing market and lending system as we once were. According to Chief Economist Dr. Lawrence Yun with the National Association of Realtors (NAR), “Conditions today are very different than the last boom/bust cycle. In 2004 we had a huge oversupply of new homes. In 2019 we still have a huge undersupply of new homes. In fact, we haven’t been building enough new homes to keep up with demand in over a decade. During the last downturn, there was the subprime factor and the variable interest rate. Now there are fewer variable rate mortgages and virtually no sub-prime mortgages.” Colorado and Boulder County outperform the nation. Colorado is well-positioned as a top economy nationally. Real GDP growth in Colorado ranked 7th in the nation year-over-year, and the state’s five-year average ranks 5th, reports leading state economist, Dr. Rich Wobbekind, with CU-Boulder’s Leeds School of Business. Meanwhile, Boulder County’s economy has been outgrowing the state economy, he says, and is uniquely able to weather a recession. Boulder County’s economic vitality is fueled by a highly educated workforce and diverse ecosystem of industries including government research facilities, aerospace, biotechnology, cleantech, and information technology – industries that endure in the long term. Our strength is local. Boulder ranks #1 the nation for home value stability and growth for the fifth consecutive year, according to SmartAsset. Based on our extensive data and market analysis, we know that we have a healthy housing market. Even through the grim days of the Great Recession, home prices only declined by 5% and recovered quickly post-recession. If you held onto your home for at least six years, there is no period when you would have lost money on your investment. Perspective over panic – a time of opportunity As challenging as it might seem in these daunting moments, taking a long view can shift our perspective from the current panic to balance. As a stable, long-term asset, real estate tends to generate more wealth over time than other assets and is often more insulated from market shocks. Here are the latest 10 vital statistics we track to keep our pulse on the market. People are continuing to buy and sell real estate, with over 50% of all homes on the market in Boulder County currently under contract. We are still seeing multiple offers on showings on some properties. Recent decline in the number of showings per available listing may be indicative of impacts from COVID-19 and its effect on the stock market – or it may reflect difficulties for out-of-state buyers to travel to see local properties. ________________________________________________________ With interest rates at a record low, for buyers, now may be an excellent opportunity to purchase the home of your dreams. For sellers, lower interest rates increase the pool of buyers for your home. Despite formidable economic headwinds, through federal stimulus, supportive measures, and proactive coronavirus containment, the uncertainty and panic will subside.This global pandemic is temporary.  Standing strong with you.  Our Realtors here at RE/MAX Elevate have seen slowdowns and shutdowns, fast-changing market flux, and recessions. With seasoned backgrounds and expert knowledge, our unrivaled Realtors have been guiding and advising our clients through thick and thin. When we tell you that the Boulder Valley real estate market is the best market in the country, the most resilient, and that we will all get through this with our largest investments – our homes – in better financial shape than before, we are speaking from hard-earned experience that no one else has. The coronavirus is our crucible, but we been here for you, we are here for you now, and we will be here for you in the future. To safeguard your health and that of all our friends, family, and the community, our Realtors have implemented new policies and practices to keep everyone safe and healthy while continuing to serve you and your real estate needs. More people in Boulder County have put their trust in RE/MAX Elevate, and we are honored to continue to be your source of real estate information in turbulent times. Please reach out to me with any questions or if I can serve you in any way. We may be social distancing and staying home, but I am here by your side – and I will always have your back. We all wish you and your loved ones care, comfort, and health. elevatedrealestate.com RE/MAX Elevate Office: 724 Main Street Louisville CO 80027 Phone: (303) 974-5005

  

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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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