Everyone will likely agree that the real estate market here has shown excellent signs of recovery.  The return back to a thriving market in Colorado has not come without some challenges, and there are several on the horizon that could impact both the industry and consumers wishing to buy or sell real estate.

The first challenge is the inventory shortage we are seeing in many areas of Colorado.  It is widespread and the cause is easy to identify, savvy homeowners have, up to this point, seen signs of recovery and as a result, are holding out for the highest price they can get for their homes.  The pricing issue itself here has many obstacles, including the fact that buyers are observing over-bidding practices which have recently been featured in the media; as a result, many are asking too much for their homes.  Certain specific areas and properties are very high demand, however, outside of those areas, prices remain either on a slight increase or decrease and are appraising very close to their actual value.  This is an obstacle not only for the listing agent, but for a new potential buyer because if they will require financing, the bank will only consider the loan up to the appraised value.  Any difference over and beyond the actual appraisal will be up to the buyer to produce, and buyers who require financing often are challenged to meet down payments financially, much less pricing overage differences.  With regard to the inventory shortage, it is not expected to recover to the levels that would be considered sustaining and healthy during this years’ selling season.  Many brokers are reporting that the amount of activity they are currently trying to manage has far exceeded what they saw pre-2006 and expect that pace will continue through the summer selling season.  Their challenge is ferreting out the perfect property for their eager buyers.  A recent top city ranking shows Denver in the top five cities across the United States for actual time a property stays on the market before it is sold.  Denver ranks 4th with an average of 29 days – beat out only by 3 cities in California, San Francisco, San Jose and Oakland.  This April Housing Summary from Realtor.com also shows Denver in 15th place, up from 18th place in overall activity and median price changes year over year from 2012.  Bottom line on the inventory and pricing is, demand is driving prices up, and inventory shortages are expected to continue as homeowners, predominantly in the single-family home sector, are trying to wait to get as much as they can for their properties.

The next challenge is where the ‘rubber meets the road’.  And that is the interest rate.  In a much anticipated move, the Federal Reserve has mapped out changes to their monetary policy, May/2013,  and will now begin easing back from measures the took to try to enhance the economy recovery, which ultimately created the historically low interest rates.  As a result, leading economists and financial experts expect these interest rates to begin climbing as early as the 4th quarter of this year.  Those either in the mortgage and finance industry as well as those closely connected in real estate know this could potentially lead to disappointed buyers that waited or couldn’t find a property and for sellers that waited to long.  Understanding why buyers might qualify right now, based on the low interest rate, is easy.  Understanding why sellers might be affected is a bit more complex; sellers whose homes are likely to attract buyers that require financing may be disappointed that the buyers are no longer able to qualify for a home at their price point after interest rates begin to rise.  Even a tiny, fractional change upward can affect buyers and may make it impossible for them to qualify as their income will not rise to meet the new ratio figures after rates go up, along with median prices being driven higher in the hotter markets due to the inventory shortage and demand for housing.

You need a buyers agent in this market.  It takes an extensive amount of time, in many cases, to thoroughly research a property and show it to a perspective buyer.  If you are a buyer researching several properties at once, which is often the case, you may loose several properties in the time it takes you to research just one.  This is happening to many buyers who check the current availabilities first thing in the morning and get there by 9 or 10 only to find that multiple offers have already been made on the property.  A buyers agent has the current, most up to date information and can save you a great deal of time in your research and sometimes many thousands of dollars in the end-game, the price negotiations.  A buyers agent represents you only, and has no potential conflicts with the seller or their agent, as the seller’s agent would be working to get as much money as possible for the seller.

The post Real Estate Market Update, Colorado – May, 2013 appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

The post Buyers Agents Will Take You Across The Finish Line! appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Using a professional buyers agent to assist you with the search, purchase and actual real estate transaction is always a prudent decision, however, there are some circumstances in which a buyers agent is particularly useful.

When A Buyers Agent Can Be A Critical Asset

Many companies across the country are engaged in formal restructuring.  This may include employee relocation and in that circumstance, a buyers agent who is a specialist in the target community would be critical.  An experienced buyer agent can quickly assemble all the research necessary for a new inbound resident.  In one such instance, Money Magazine featured a Sprint internal study that queried their employees and found that over 200 employees had company-related relocations used exclusive buyers agents to assist them in the moves and paid an average of 91% of the listing price on their homes.  That’s a substantial savings.

Think about it.  Will you really get the lowest possible price on a piece of property if the person you are dealing with is showing you a property that is listed inside their firm?  While the majority of real estate agents make every effort to carefully protect both buyer and seller interests, only an exclusive buyers agent can ensure that you are getting the best possible price on property.  They have no ‘skin in the game’, so to speak – no seller to protect – only your personal interests and goals.

Frequently, exclusive buyers agents are paid out of the commission at closing.  That being the case, the buyer agent would not receive payment for their services if the home buyer does not find a home to purchase.  This creates a huge incentive on the part of the buyers agent to provide the most complete, up-to-date information and services to the perspective buyer.  It is a win-win, especially for an inbound resident with limited knowledge about a new area they are moving to.   Information and research is essential in approaching a move outside an existing city, state or sometimes, even out of the country.  Any move can be stressful.  A relocation move can be particularly stressful and a huge drain on time as the employee is expected to maintain a full schedule at work while preparing to move, during the move and has clear cut deadlines to meet, in many cases, on the other end of the move regarding ‘report to work’ dates.

Take the first step in your move.  Hiring a professional buyers agent to assist you in getting the critical information you need is not only an excellent business decision, it will likely save you many thousands of dollars in the end.

The post Using A Buyers Agent For Relocation appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Boulder – Community Honors

We enjoy the opportunity to feature different areas of Colorado and this week we offer information on one of the most unique, eclectic communities nearby Denver Metro.  Boulder, CO has long held the reputation of one of the best places to be in Colorado for many reasons.  First and foremost is that it is home to University of Colorado – Boulder, (22% of its resident population), and this feature alone carries influence into many lifestyle areas including shopping, transportation and restaurants and many other city amenities.  Many may not be aware of other noteworthy Boulder designations, for instance, the fact that it has been dubbed the least obese Metro area in the US, (Gallup Poll – April, 2013).  Boulder also picked up these additional 2013 community honors:  Dynamic Locales for Walkable Living, (Where To Retire – April, 2013); Tree City USA for the 29th consecutive year, (National Arbor Day Foundation – April, 2013); Top 10 Metros for Female Executives, (#1 slot), (Avalanche Consulting – Feb, 2013); The 20 Most Innovative Cities in the US, (#5 slot), (Business Insider – Feb, 2013) and renown (Milken Institute designation Best Performing Cities, (#15 slot) – January 2013).

And the year is yet young, as many honors received in 2012 came later in the year.  To be certain, Boulder offers a diverse, robust economy and lifestyle for all ages with education as a key focus within the community, a very attractive feature for families with school-aged children, especially those preparing for high school with college programs in their near future.  Boulder is considered host to one of the most educated populations in the United States.

Boulder – Community Amenities

Recreation both inside and just outside Boulder is a huge feature for the area, with over 45,000 acres of open space and 150 miles of biking and hiking trails and over 300 days of sunshine.  Boulder offers excellent opportunities for art, cultural, dining, entertainment and shopping.  In addition, Boulder as very high-quality healthcare and sustainable environmental policies.  Conveniently located to Denver, it’s only 30 minutes from downtown and 45 minutes from Denver International Airport.

Boulder is host to significant industry presence featuring aerospace, bioscience, data storage, light manufacturing, natural and organic products, outdoor recreation, photonics, professional and scientific services, renewable energy and energy research, software, and, of course, tourism.

To be certain, when compared with many metro areas across the United States, Boulder is definitely a city that is thought of as “having it all”, offering big city features and amenities within a small town atmosphere.  As a result, the projected growth rate of Boulder is approximately 20% from now looking forward to 2035.  No doubt, median property values will respond to increased housing demands and other valuation pressures during that time period, making right now the best time to consider entering the market.

The post Best Places To Live In Colorado, 2013 – Boulder, Colorado appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Definitely not, if you as a buyer require someone to really get in there and help you find the right property at the right price.

Open Houses – A Great Opportunity For the Agent
There may be consequences for the buyer in an open house setting if the buyer engages in conversation with the agent.  Be careful in information exchanges with any agent who does not 100% represent your interests exclusively.

Fees
The seller’s agent fees may be negotiable but you will have no way of knowing this unless your exclusive buyer’s agent gleans this and other critical information.

Information
If you happen to disclose to a real estate agent that represents a listing that you would be willing to pay $200,000 for a listing but you would like to pay $175,000, they are obligated to give the seller this information.  Without an exclusive buyers agent on your side, you may to loose in the negotiation stages of an offer.

Zoning and Other Critical Information
It may not be intentional, but in the discovery portion of your property search, you may be given inaccurate or outdated information about the potential development, upgrade or addition made to a property.  Get this information correct and from your buyer’s agent who can help you with the research.  Not from the source trying to sell you the property.

These are no longer the ‘sleeping giant lays’ days in the real estate market.  A property might hit the MLS at 7:00AM that’s perfect for you and unless you have a top rated exclusive buyers agent you may never hear about it in the type of fast-paced market we are currently in.  An exclusive buyer’s agent greatly increases your chance of purchase success in today’s real estate market.

The post Using An Excusive Buyers Agent – Things You Won’t Have To Worry About appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Top considerations for purchases of acreages are pointing towards location when evaluating homesites in master planned communities.  Next in preferences were views from the homesite – (waterfront, mountain, golf & wooded), amenities, price and actual size of home site.

The Value and Benefits of Acreage Compared to Other or Traditional Investments

Acreage is considered a safe, stable long term investment nationwide, according to and informal survey by landthink.com.  This is really no surprise, as the economy is not considered either stable or certain and both are premier considerations in evaluating paper investments such as stocks.  One of the biggest advantages to purchasing land is not just the investment, but the recreational enjoyment of the land during ownership.  Those in the city or suburbs in communities with average size lots enjoy the opportunity to escape the city heat and congestion by taking family time weekends to the high county in more secluded, scenic mountain lands.

Enjoy Your Acreage Now As You Grow Your Investment

Acreages offer unspoiled opportunities to get close to nature, enjoy the views and the wildlife that aren’t readily available in the city.  There aren’t too many camping experiences that can top taking a drive to your own land and pitching up a tent for the family and enjoying that type of fellowship over the weekend.

There are a great number of incentives for acreage purchase – desire to own forested land, to hunt and fish, to ride ATV’s – Colorado acreage offers it all!  Searches across the state show an excellent selection of properties that may be used for various purposes, can be built upon in many cases, nearby to utility services, and in all types of shapes, sizes and locations.

Let your qualified buyers agent identify what you find most attractive in a piece of land and consider buying while land prices are still at all time lows in many areas.

The post Wide Open Spaces – Colorado Ranch Property and Acreage appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Welcome to the digital real estate age.  Although computers have been around for many years, recent technology advances and enhanced, comprehensive website information portals have forever changed the landscape of real estate, both in home search procedures that buyers might use and in marketing and advertising strategies that sellers might use.

Clear Advantages

This is timely, as in may areas of the country, markets are inventory deficient and, as a result, every advantage must be used to either buy or sell a house in a ‘hot market’.

Where buyers are concerned, hiring and establishing a solid relationship with a buyers agent will free up a buyer to look for enhanced information that may directly influence their decision to purchase, while the buyers agent concentrates on the ‘meat and potatoes’ of information gathering regarding a specific property or properties.

What and How To Search

It is remarkable that even the most technologically disadvantaged individuals can now purchase and use digital devices with ease.  One of the most useful devices in real estate searches is arguably the iPad or a tablet with excellent navigation features and mapping applications.  It is very advantageous in the middle of a property search that may involve visiting several properties in a short period of time that a person can open and move freely between several screens and applications.  For instance, one example might be a property search that involves several locations in the same county.  All addresses can be input in the map for easy location discovery, the internet can be accessed via 3G or 4G and the county appraisers website can be pulled up and left open regarding the property history, the tax information can be pulled with ease, the neighborhood data can be pulled, population data and crime statistics, school locations and addresses, all shopping and restaurants in the area and a plethora of additional information.  In addition, one can consult large consumer websites such as Zillow for information that appears on a map showing houses that have sold and what they sold for, houses directly next to the one you may be looking at and what it’s estimated value is, and remarkably, barring unrecorded or recent modifications or upgrades, the layout of the houses nearby including number of bedrooms and other important home valuation data.  It is important to note that while Zillow is an excellent reference tool, your buyers agent will have more current and up-t0-date information or the necessary contact information about a property you need information on.

This is a great time to dive in!  All of the information above will help turn a mediocre search effort into a comprehensive, robust collection of information that will help both buyers and sellers in their efforts.  Such comprehensive searches did not exist so readily exist years ago, making buyers and sellers more dependent on their real estate agents ability to locate information, and, at that time, without such comprehensive data available digitally, made these very necessary efforts extraordinarily time consuming and cumbersome.

So, welcome to the new and improved digital age – make it work for you and your existing or next home purchase and enjoy the extensive information available to you.

The post The Digital Real Estate Age appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Get The Help You Need!

First and foremost, hire a buyers agent.  This real estate professional will work for you ONLY, is not a listing agent trying to get the most for a seller, and is prepared to take the time to investigate and research the market to find you exactly what you are looking are.  After you have found someone to work with, you need to make sure you have clear understanding yourself of what it is you are looking for.  Ask all the why’s and what’s before you become fully engaged in the search process.  Are you moving across town?  Are you moving somewhere else inside the state – or out of state?  How long do you plan to own the house you are buying?  What will the house be used for?   These are all very important question that will determine the type of house that will fit both your needs and your budget.  Some of these answers will also have an effect on the type of financing you may be needing, as well.

Leverage Your Time!

Home searches can be exhaustive.  In many cases, your buyers agent will do much of the leg work but you will likely need to search as well.  Especially if you are looking in more than one area.  Much of the information you seek is available on the internet – it is much easier in this age of knowledge to find information about neighborhoods, schools, crime statistics, churches, shopping, transportation, health care, nearby recreation and activities – all things that contribute to individual lifestyle if you are going to live in the house for any length of time.  A buyers agent will come in handy in the critical part of securing the property – negotiations regarding price and terms.  Let a professional buyers agent handle the complicated and time-consuming activities in locating and purchasing your next home.

The post Home Buying Tips appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

List of Top Ten Affordable Cities

The second home market is heating up along with other sectors of real estate that have been sluggish or in the trough since the market crash this past decade.  While the luxury markets are seeing spritely increases, the affordable second home market still boasts modest median house prices as well as a good selection and affordable financing with interest rates still at record lows.

The top suggested cities in the US that have gleaned consumer interest and have shown increased equity growth over a 5 year period include:

Beaufort, SC – Myrtle Beach, SC – Asheville, NC – Ashland, OR – Daytona Beach, FL – Park City, UT – Port Townsend, WA – South Lake Tahoe, CA – Sunriver, OR and Charlevoix, MI

According to RealtyTimes, April 11, 2013 edition, at least half of the cities mentioned have a median price below the $162,000 national average price for a second home.  The towns collectively have seen an average increase of value of 10% or more for several years but still have a affordable inventories.

Incentives to Buy A Second Home

For many, the purchase of a second home may be the way to evidence additional income in pre-retirement years through rental revenue.  The interest in buying a second or third piece of property in today’s market may be spurred by restructuring retirement portfolios to include more tangible assets, with real estate as the winner for long-term performance.  During the first six months of 2013, the stock market indices tumbled by 20 to 30% or more as real estate prices slowly edged up by more than 7.5%.

The criteria for potential second homes has changed right along with the retirement landscape.  Money magazine writes of younger seniors, (age 65-79), ….”they may not weigh the pros and cons in terms of days of sunshine or number of golf courses, but rather the number of hiking and biking trails, opportunity for educational enrichment, and the caliber of art and restaurant scene”.  Many may still desire to work, so additional market evaluations are made based on local economy grades and job markets.  Based on THESE criteria, Denver ranks far above the previous mentioned cities  as it recently ranked within the top 10 fittest cities in America.  Denver has one of the most active populations in the United States with a high percentage of the population reported to be active 3o minutes or more each day.  It also holds 5th place, according to the Buiness Journals who published an article in February singing the praises of Denver for small-business vitality, which directly reflects upon job growth and overall economic health.

Milken, a leader in all types of research including real estate market and analysis observes that there are 80 million baby boomers on their way to senior status.  That size population sector will have a dramatic impact on the way future-minded businesses develop emerging opportunities for this huge, growing population.

The post Second Home Market News appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.

Summary

Boulder County is seeing an overall increase in home sales over the same quarter of 2012, as is the case with many active real estate markets that have been evidencing significant increased activity.

The Numbers

Specifically, sales were up 13% from last March, according to Neil Kearney of Kearney Realty Company.  Kearney also reports that single family home sales were up a whopping 45% from February.

Such activity in a market presents challenges – the biggest of which is inventory, a critical key in sustaining growth in the region.  Inventory is actually down 3% compared to last year so there is a concerning shortage of good listings.  Properties under contract are at an all time high, reports Kearney.

Inventory Challenges

This type of activity is a key indicator that Boulder’s real estate market is recovering at a robust pace, however, if the number of new listings in the market does not substantially increase in this current quarter, it will be difficult to maintain this level of growth.

The predominant price tier that has seen the most substantial sales are the lower to moderate price ranges in most markets in Colorado.  The median home prices in Boulder County exceed those price parameters making the market a more specialized market than other counties in Colorado.

Boulder County enjoyed an increase in home sales throughout 2012 while other markets across the country were just beginning to see evidence of a recovery trends.  In fact, Boulder and Broomfield counties closed out the year 2012 with a 24 percent increase in single-family home sales, according to Boulder Area Realtor Association data.

Looking Forward

All leading indicators point to a nearly complete market recovery for Boulder county, with the number one future concern being inventory of existing homes.  The past four years saw a 65,000 unit deficit statewide.  Unless those numbers decline, it will be difficult to sustain an increase in new household formation.  The tightening availability and increased pricing in the rental market has definitely been a key incentive for renters to enter the residential market.  Overall, consumer confidence has increased and if inventory stabilizes and mortgage rates stay within about 1% of where there are today, Boulder County will remain a market leader in Colorado.

The post Quarterly Market Report – Boulder County appeared first on Exclusive Buyer Agents, Buyer Agents, Colorado Buyers Agents, EBA, Denver Buyer Agents, Colorado Springs Buyer Agents, Boulder Buyer Agents, CEBAA.