October 2011 Boulder Area Real Estate Stats

The October 2011 Boulder area real estate statistics are out. Although sales in Boulder and Broomfield since June 2011 have been ahead of the same months in 2010, most areas are still logging a decrease in total number of sales this year versus last year. Last year had a lot of hype over the various tax credits available for home buyers, and I really think that this had a psychological effect of getting people out buying in the Boulder area, even if the credit didn’t actually come into play in many Boulder area home purchases. Ironically, for many in the Boulder area, now is a better time to buy, since interest rates remain at crazy lows. Anyway, here’s the link to the hard data.

 

Adventures in Boulder Mountain Real Estate

I love the mountains. Being close to the mountains was one of the reasons I moved to Boulder. I definitely am in the flat lands more often, and wouldn’t want to do all my business in the mountains, but I get excited when clients contact me to look at mountain properties. Gives me a chance to get out there and take in some wide open vistas.

Showing properties in the mountains does have its unique, um, “moments.” Many of the roads higher up in Boulder County are not paved – they’re well-graded and well-maintained, but unpaved nonetheless. That means you’re occasionally in for a rough ride depending on where you’re going, and you always have to be on the lookout for washboards in the road (for those not in the know, that’s a phenomenon where the road gets rutted like a washboard, and, if you’re going too fast, can cause for some interesting unintentional maneuvers). Mostly, though, you can’t complain about the roads. I give a lot of credit to the powers in charge for that.

What I AM going to complain about, though, is the occasional unkept driveway. Once you get off those county-maintained roads, it’s a whole different animal. Most homeowners recognize the importance of access and keep them up. Others, not so much. When you’re touring a bunch of properties and see a driveway that is just a rutted drop-off on the side of the road, it can give one a bit of heart palpitations (especially when you’re by yourself, as I was yesterday, and there’s no cell coverage). I think it’s worth getting out and checking out the situation first before taking the plunge.  The picture here is of a driveway that at first, from the road, looked treacherous, but turned out to be nothing. But I was still glad for all-wheel drive!

Another thing unique to the mountains is that while GPS works, it’s not nearly so accurate as it is in the flat lands. So, as a Realtor showing properties you become highly dependent on your knowledge of the area and the directions given to you by the listing agent. Giving directions in miles is most helpful; directions such as drive on Generic Rd. and look for red bridge not so much. How long on Generic Rd.? What shade of red?? It can truly be an adventure. But once the buyer finds their dream home/retreat, it’s all worth it. True serenity can’t be located with a GPS!

 

 

July 2011 Boulder County Real Estate Statistics

Kind of hard to find a nice picture for statistics - so here's a colorful columbine instead.

The stats are out for July 2011 Boulder county real estate sales. There was a total of 334 single-family and 103 condo/townhomes sold in the county in July, with a decrease in total sales from last year across all areas except the plains. For the most part, the average sales price of single-family homes was very similar to the same time last year, with Boulder weighing in at an average price of $656,055, up 1.1% from last year’s average price of $648,605. Not really enough of an increase to be significant, but it’s nice to see that prices haven’t fallen. Average days to contract is a bit longer, though; up from 79 days last year to 88 days this year in Boulder. Buyers are definitely being pickier and don’t seem to be in a rush.

All in all, nothing too exciting to report. We typically experience a bit of the doldrums around this time of year, and I wouldn’t be surprised if all the gloom and doom in the news is affecting buyers’ mindsets – even if it shouldn’t. As these stats show, the Boulder area has been fortunate, and the national stats just don’t apply (shameless plug: all the more reason to hire someone familiar with the local market to help you buy or sell!).

If you want the nitty-gritty details, check out this link from the Boulder Area Realtor Association.

You Should Know This If Buying A Home in Superior, Colorado

Superior, Colorado, real estate is going strong right now. Of the 62 single-family homes currently on the market, 19 (30.6%) are under contract. As of July 2011, the average days on market was 57 days, down from 67 days over the same time period last year. Average sales price was up, also, from $422,214 to $$428,511. (Source: BARA)

One of the reasons Superior is consistently a desirable place to live is its manicured, clean streets. Everywhere you look, there are parks, neat flower beds, and well-maintained public facilities. So, how can Superior keep up this, um, superior service? (Sorry, I had to!) Every potential homeowner should know that there is a monthly city landscaping fee of $30. This may be included in the HOA assessment (check with your HOA), but for those subdivisions without HOAs (e.g., Sagamore), it is a stand-alone bill from the City. There seems to be some confusion about this monthly fee: I’ve spoken with some Realtors and residents who believed it gave them access to the recreation centers. However, that is separate – to use city pool and tennis, you just need to present proof of residency and obtain a $5 card for everyone in the household. The City also provides utilities for residents, and you can find out more information about the rates here.

Just some good things to consider if you’re thinking about buying a home in Superior, Colorado!

Love Letter to Louisville, Colorado

Dear Louisville, Colorado,

Congratulations, my dear, you’ve done it again: Money Magazine has once again found you the most desirable among your peers. Money has recognized something that your residents have always known: it’s hard to beat your clean, safe, and friendly streets. You provide for all our needs and desires with your easily accessible stores, great schools, fine dining, and lively entertainment. In all seasons, your parks and open spaces remain beautiful. There may be changes ahead, but we know we can rely on your trustworthy government to make wise decisions and continue to provide services unparalled in other towns of your size.

Don’t be offended when visitors refer to you as “Loueyville” or you’re passed over for your big sister Boulder just down the road. You’re special and unique in your own way, and your small town atmosphere is becoming more and more appreciated.

Hey, just one request: let’s keep those killer sunset views of yours our little secret, OK?

Love,

Louisville, CO residents

 

 

 

 

 

Buying a Boulder Investment Property: Smart Regs

Anyone interested in buying residential real estate as an investment in Boulder, Colorado, should be aware of Boulder’s Smart Regs program. Smart Regs is a program unique to the City of Boulder which is intended in part to help reduce the City’s greenhouse gas emissions. Smart Regs affects anyone owning residential rental property in Boulder that would require a rental license.

There are many nuances and exceptions to the program, so I really can only do a broad brush overview in a blog. Basically, by January 2, 2019, all rental properties must attain a certain number of “points” under the program in order to obtain a rental license. A landlord can obtain points in many ways. For example, points can be gained by installing insulation (one of the biggest point earners), replacing windows, controlling duct leakage, having a whole-house fan, and installing high-efficacy lighting.

Although it sounds like a daunting proposition to gain the number of points needed for the program, it’s not so bad as it sounds. Many properties will be well on their way already to obtaining the requisite points. It’s typically especially easy for condos and other attached dwellings to gain points, as they share walls, which is one of the criteria which can lead to a property gaining more points. On top of that, the date for compliance is far out, so that property owners can budget over the next few years to make alterations to their properties if necessary.

As I said, there’s much more to this program than what I’ve described, so my best advice to any potential investor buyers in Boulder is to do some research before diving into the Boulder investment property market. You can visit www.bouldercolorado.gov/smartregs for more information, or give me a call and I’ll be happy to help out with the research.

Modern Loft on Pearl St. in Boulder

I’ve been greatly enjoying my new office location on Pearl Street in Boulder at Pedal to Properties. I’m now super excited to introduce my new listing just a couple of blocks away at 2301 Pearl St., #53. This modern loft space is the ideal private nest in downtown Boulder. Completely updated and ready for move in, this unit is unique among the Whittier Place condominiums. The owner has reconfigured the bedroom loft space to allow easier (and hideable!) access, along with more square footage. The kitchen has all stainless steel appliances and artistic touches you won’t find elsewhere. Add to that the Trex deck overlooking the foothills and the cozy fireplace, and this home can’t be beat for the location and price.

For more information visit the property’s website, or contact me to take a look.

Note the modern touches mixed with fun custom painting!

 

Just part of the views off the deck.

Buying a Home That’s Part of an HOA

Buying a home that is part of an HOA, or Home Owners’ Association, should never be taken lightly. It’s especially important that first-time homeowners understand fully what they’re getting into when the buy a property that is governed by and HOA or other association.

Many states have laws governing HOAs and CICs (Common Interest Communities), but even within a state the range of things an HOA can control is across the board. For instance, I live in an HOA where the only common facility maintained by the HOA is a common drainage system. On the other end of the spectrum, though, are HOAs that maintain common or shared amenities such as a pool or common walls, or control everything from the type of roof you can install to the type of grass you can plant. Because HOAs can have such control over your property (and have the power to enforce their rules), you need to be darn sure of what you’re signing up for. An HOA can add value to your property, but it can also make life miserable!

In Colorado, we have two deadlines in the purchase contract which relate to CIC (HOA)-related matters. The first is a deadline by which the seller will get all the HOA-related documents to the buyer, and the second is a deadline up until which the buyer can opt out of the contract due to something they don’t like about the HOA’s rules.

I’m sure that all agents differ in how they handle these deadlines, but my advice to all buyers is that they carefully read over all the documents provided by the HOA, and that they ask as many questions they can think of about the HOA and its rules prior to the second deadline. And, moreover, my advice is that they communicate directly with the HOA management themselves - not through me. I’m always happy to facilitate conversations, but it’s up to my buyers to do their own homework. Every homebuyer has differing views on what they can accept/won’t accept in an HOA – what if the HOA board is overbearing and always in your business? What if it’s just the opposite, and no one does anything? What is your recourse? What can you do if you just don’t like the manager, or if they never respond to concerns?

I’ve been super pleased to be representing some great first-time homebuyers who are doing everything right with the HOA that they are buying into. They have spoken with the HOA manager numerous times. They have reviewed the HOA financials, and have asked questions about past repairs and planned repairs. They have even had the HOA pre-approve their dog as a permitted animal in the complex (imagine moving in and finding out your dog isn’t allowed!!).

Doing your HOA homework is lot of work, but avoid unpleasant surprises and get it done!

Excited to be at Pedal to Properties in Boulder!

I’m excited to share the news that I’ve moved over to Pedal to Properties in the heart of downtown Boulder. Pedal to Properties is a full-service real estate brokerage whose stated goal is to provide first-of-a-kind service in a way that is both responsible to our community and environment both locally and globally. You can see this goal reflected in the brokerage’s clever bike-based logo, and put into action through the cute cruiser bicycles that the company provides to use free of charge to clients, tourists, and visitors.

I’m really excited to find clients who want to take advantage of the upcoming beautiful weather and take a cruiser out for a tour! (Of course, the “old-fashioned” car tour is always still available!

If you’re ever out wandering around downtown Boulder, stop in for a visit!

New Listing In Indian Peaks, Lafayette

Located at the end of a quiet cul-de-sac

**UPDATE: SOLD on June 21, 2011*** This is what home should feel like: this 4 bedroom, 3 bathroom home on a quarter-acre lot is the perfect home for relaxing and entertaining. With great views of the back range and Flatirons from the living areas, backyard, and master bedroom, it feels like a getaway, but is super close to all that the Boulder area has to offer. All the rooms are well-sized, with designer paint colors and a private layout. A separate study on the main floor lets you escape (to or from!) your workspace. Anyone who’s lived in Colorado long enough will appreciate the separate mudroom with laundry off the oversized 2-car attached garage.

The seller is offering a $1500 appliance credit if you’d like to switch out the appliances when you move in. Act now to take advantage of the spring blossoming in the landscaped backyard – this home is ready to move into!

121 Overland Ct., Lafayette, CO 80026. 4 bedrooms, 3 baths, 2-car oversized garage, $475,000. For more pictures and information, please visit the property’s website here.

Hardwoods throughout main floor; kitchen opens onto deck

Landscaped backyard with views, privacy

Luxury master bathroom