Boulder Real Estate is a bit of a challenge for buyers these days. I have an out of town client (thank goodness for Skype!), who’s ready to buy and we’re finding that the limited inventory is posing some hurdles.
I did some recon on three homes for sale today, after one ideal home in the area went under contract after just a few days on the market, and just hours prior to my buyer giving me the green light to possibly draft a contract.
One home in the Gunbarrel area, one in central north Boulder, and another up in Table Mesa near Viele Lake and the South Boulder Rec Center.
The Gunbarrel home is in a wonderfully mature neighborhood, near the Boulder Country Club and golf course, although it was built in the early 1980′s and looks like it. Although clean, it appears to need a new roof, and doesn’t really have much updating. I visited today to see about taking some photos since there are none online yet in the MLS (that’s the “Magic Listing System”… ahem.)
If you’re renting, or thinking that you might wait just a bit longer to buy a home, don’t make a critical mistake. Home sales are up as we’ve seen between 30% and up to 80% increases in sales month over month, year over year.
Now just as we see the impact of increased homes sales the last couple of years or so, the upwards pressure on prices has finally happened, and I’m seeing homes with multiple offers within just a day or two (or maybe just a few days). As long as you’re priced right as a seller, you’re likely to see this work well for you.
Priced a little high? It still might work, as long as you have the right stuff that buyers are looking for in your house for sale.
That’s the Golden-based, US Department of Energy’s National Renewable Energy lab. The economic impact of this lab for Colorado is quite extensive. At a time when jobs are a concern, the economy is on everyone’s mind and the unemployment rate is a burr under many people’s saddle, we have to look locally at what a great situation we have here, even outside of Boulder and Broomfield County.
There was a new study by the Leeds School of Business at the University of Colorado (CU) Boulder.
Mortgage regulations are changing again, and it may be in your interest as a buyer to know what’s going on.
The Consumer Financial Protection Bureau (CFPB) recently announced new mortgage rules.
Basically, A qualified mortgage meets criteria as defined by the CFPB. When a lender makes a qualified mortgage, it is entitled to legal protection for the loan from distressed borrowers or buyers of mortgage-backed securities.
How about commercial real estate sales as an indicator? Local businessman and real estate investor Stephen Tebo has been buying up Boulder property for years, and he’s not about to stop.
Tebo recently purchased three buildings on the Pearl Street Mall downtown.
Actually, according to a report in the Boulder County Business Report, he’s on the prowl looking for more to buy. Apparently the money is there to borrow at good rates from lenders, and with vacancies low and rents up, Tebo and his contemporaries are making their move to acquire more Boulder property while the opportunity is ripe.