Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.
Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process.
CLICK HERE to read more...
“What’s happening in the market?” This is a question I often get. The truth is, I am not 100% certain. The area in which I work, predominately Boulder County Colorado, has always been in high demand. Even with the crash much of the country saw in 2008, Boulder saw a little blip, then rebounded and stabilized. Then, as we headed into 2012, prices started climbing exponentially, and for the most part, have not stopped. Sure, we see the ebb and flow of the seasons, and things flatten out a bit, but overall, the value of homes in this area have been, and remain, a solid investment.
Enter 2019, then roll into 2020, a worldwide pandemic, and a sudden need for more work / live space at home. In 2019 we were already feeling the pinch of low inventory and high demand. Sellers thought about selling, but were concerned that they would not be able to find a replacement home so they stayed put. We were seeing a lot of remodeling, as homeowners decided to improve upon what they already had vs. looking for something new, and so the inventory shortage was born. 2020 marches in, and families found themselves having to pivot and work from home and homeschool their school age children; their homes went from being a place where family lived, to a place where family worked, learned, lived and played; it was a LOT of togetherness! With restrictions in place, and outings limited, having a backyard, and some private / safe space to call your own was suddenly a desired commodity, and we saw a flood of interest in the suburbs. The once desirable urban living was waning and the demand for more single-family housing rose quickly; so quickly that the demand was impossible to keep up with. This demand further tightened inventory, and drove prices through the roof. We saw rents rise as well, driving even more demand into the market from those that were renting, to try to find a place of their own to purchase.
For homeowners that were in a position to sell during this time life was sweet! They could basically name their price (within reason) and the offers would flood in, often exceeding the list price by $50k - $100k or more. Buyer agents were crafting purchase contracts stating that their buyers would not make any requests of the seller to make repairs, and offering to cover the cost difference between the list price and the purchase price should the buyer’s appraisal come in light. As a buyer’s agent, we were expected to get creative, while still working within our legal limits, and giving our buyers sound advice. The stress of the past 18 months has driven many agents out of the business. Buyer and agent burnout has been high, and after spending countless hours looking at homes, often dropping everything to accommodate our buyer and meet a tight offer deadline set by the seller, writing numerous offers, and trying to hold it all together while supporting our buyers, who were feeling defeated and frustrated, our buyers often turned to signing a lease and renting “until the market cooled off” – who could blame them? It was brutal and heartbreaking both for home buyers and agents alike.
Ironically, it was not easy to be a listing agent either. Seller expectations were often unrealistic, placing undue demand on their agent. Even the most professional and kind buyer agents were understandably tired and cranky, and would react out of character when the seller would elect to accept an offer before the offer deadline. As the listing agent, you would often be the target of that frustration when you had to make the call that the listing was no longer available. Then there was the buyer fallout to deal with; buyers feeling desperate would make fantastical offers, then once accepted would have remorse and sometimes find a reason to terminate, frustrating agents and sellers alike.
Everyone was tired. Everyone was burnt out.
But, back to the original question; “How is the market?” I do believe that there is light on the horizon! As it always does, I believe that the market is starting to correct itself.
I am seeing homes sit on the market for a week or more (in a healthy market, 90 days is not unusual). I am seeing price reductions. Instead of 15 – 20 offers on a single listing, I am seeing 1, maybe 2 or 3. Things are starting to normalize.
This is excellent news for buyers! I would not go so far as to say it’s becoming a buyer’s market…I think we are a long way from that, and buyer’s need to be mindful that they still have to submit a competitive offer in order to be considered. However, finding a home, and having your offer accepted, is more a reality now than it has been in the past 18 months!
Although sellers are not rejoicing quite as much, I do see this as a good thing for sellers as well; less fall through transactions / more authentic offers, less adversarial and more cooperative transactions, and more opportunity to find a replacement home.
I do believe that we are heading towards a more stable, healthy, real estate market.
If you have been on the fence, or renting because you were not in a position to be competitive, now may be the right time for you to revisit homeownership!
If you were thinking about selling, but had concerns about your ability to find a replacement home, now may be the time to revisit your dreams!
I would love to help you strategize reaching your goals! The market correction is a good thing for everyone! Please reach out to me if I can be of any assistance.
NOW is the time to sell and buy! (see my post below)
With fewer homes to choose from and multiple offers to compete with, It is more important than ever that you work with an experienced Realtor to help you find your dream home! Working with a CRS Relator, gives you even more of an advantage as their training and level of expertise exceeds basic licensing requirements.
Home sellers may be tempted to go it alone, in this hot market, but by doing so, you could be setting yourself up for last minute terminations and pitfalls galore. Negotiating, and navigating multiple offers has never been so challenging. Having an experienced Realtor by your side to secure you the most offers, at the highest possible price, then to stand by you through the negotiation and navigation process, could mean more money in your pocket at closing, with less hassles to get there (and this is even after paying an agent commission!
I would love to help you strategize marketing and selling your home, or buying a new one! Contact me today!
If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again!
Waiting to buy could result in being able to afford less home for more money, CLICK HERE to learn more.
I would love to strategize with you, to see how together, we can get you into your dream home!
Take a look at what's happening in the world of real estate for Boulder County, the City of Westminster, and Broomfield.
Tight inventory creates challenges for both home buyers and sellers; home buyers struggle to be competitive (I have several strategies up my sleeve! Thinking about buying? Let's connect and talk about what takes to get your offer noticed and accepted!), home sellers struggle to understand that even though a potential buyer may be willing to pay more for their home, it is still important to price it correctly and skillfully analyze all offers to avoid appraisal pitfalls (I can help! Let's chat!)
Please click the links below to see what is happening in the local markets:
Please CLICK HERE to see what is happening in the real estate market, in the city of Broomfield CO!
Thinking of buying or selling? I can help! Please reach out to me directly at Terri@BoulderColoradoProperties.com with any questions.
If you would like to know what the condo / townhome market is doing, please ask.
Please CLICK HERE to see what is happening in the real estate market, in the city of Westminster CO!
What did I do during 2020? I earned my CRS Designation! I am proud to join this elite group of Realtors!
If you are looking to make a move in 2021, I would love the opportunity to assist you!
CLICK HERE for a very short video.
Happy New Year!
CLICK HERE to see what the experts have to say about the 2021 real estate market.
Please CLICK HERE to see what the real estate market is doing in Boulder County. This report is for single family homes only. If you would like the market stats for condos and townhomes, please reach out to me directly.
For a customized valuation of your home, please ask. I am happy to provide a complimentary, no obligation, valuation for you
Please CLICK HERE to see what the real estate market is doing in the City of Westminster. This report is for single family homes only. If you would like the market stats for condos and townhomes, please reach out to me directly.
For a customized valuation of your home, please ask. I am happy to provide a complimentary, no obligation, valuation for you.
Today's real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it's more important than ever to know the ins and outs of making a confident and competitive offer.
CLICK HERE to learn the five keys to success for this important stage in the homebuying process.
Here is your Market Update for the Boulder County CO single family home real estate market. This post represents single family homes only. If you would like stats for condos and townhomes, please reach out to me directly and I will send the market information directly to your inbox; no cost or obligation.
Please CLICK HERE to view the market report in it's entirety.
Are you, or do you know anyone that is looking to sell in the Boulder County area? I work with both home buyers and sellers, and offer a very competitive listing package that I would love to share! My consultations are always free!
Here is your Market Update for the Westminster CO single family home real estate market. This post represents single family homes only. If you would like stats for condos and townhomes, please reach out to me directly and I will send the market information directly to your inbox; no cost or obligation.
Please CLICK HERE to view the market report in its entirety.
Are you, or do you know anyone that is looking to sell in the Westminster area? I work with both home buyers and sellers, and offer a very competitive listing package that I would love to share! My consultations are always free!
Here is your Market Update for the Broomfield County CO single family home real estate market. This post represents single family homes only. If you would like stats for condos and townhomes, please reach out to me directly and I will send the market information directly to your inbox; no cost or obligation.
Are you, or do you know anyone that is looking to sell in the Broomfield area? I work with both home buyers and sellers, and offer a very competitive listing package that I would love to share! My consultations are always free!
To see the current market stats for the City of Broomfield Colorado, please CLICK HERE.
Do you know someone looking to buy or sell a home in Westminster, Broomfield, or anywhere in Boulder County, please contact me. I offer a very comprehensive and competitive marketing package to my home sellers, and I make a point to go the extra mile for home home buyers.
Excellent service should not cost more, it should be expected!
Here is your monthly market update for single family homes in Boulder County Colorado. If you would like the stats for condos and townhomes, or if you would like a personalized market evaluation for your home, please contact me; I am happy to help!
CLICK HERE to see the market stats for the city of Boulder County, for August 2020.
Here is your monthly market update for single family homes in BroomfieldColorado. If you would like the stats for condos and townhomes, or if you would like a personalized market evaluation for your home, please contact me; I am happy to help!
CLICK HERE to see the market stats for the city of Broomfield, for August 2020.
Here is your monthly market update for single family homes in Westminster Colorado. If you would like the stats for condos and townhomes, or if you would like a personalized market evaluation for your home, please contact me; I am happy to help!
CLICK HERE to see the market stats for the city of Westminster, for August 2020.
What is the value of a good home warranty? PRICELESS! A good home warranty can not only save your money on expensive home repairs, it can reduce stress knowing that you are covered. You can't put a price on security and a good night's sleep.
That is why I purchase a home warranty for every one of my home buyers and sellers. When you buy or sell a home with me, I want you to enjoy the process and not worry about costly repairs.
I use 2-10 Home Warranty. Please CLICK HERE to see a short video clip of the value, and peace of mind, a home warranty can provide.
If you know anyone looking to buy or sell a home, please give me a call! I offer a very comprehensive marketing package for my home sellers, and am skilled at writing competitive offers for my home buyers.
Monthly Market Update for Boulder County. I work with home buyers and sellers all throughout Boulder County, Broomfield and Westminster in beautiful Colorado!
Thinking of buying a home? Do you want to know what your home is worth? Please reach out; I am happy to help!
CLICK HERE to see July's market update for Boulder County.
Monthly Market Update for the City of Broomfield. I work with home buyers and sellers all throughout the City of Broomfield, Westminster and Boulder County.
CLICK HERE to see July's Market Update for the City of Broomfield.
Monthly Market Update for the City of Westminster. I work with both home buyers and sellers all throughout the City of Westminster, Broomfield, and Boulder County.
Thinking of buying a home? Do you want to know what your home is worth? Please reach out, I am happy to help.
CLICK HERE to view the market update for the City of Westminster
With interest rates hitting record lows, mortgage lenders are being pushed to the max. Many mortgage companies are actively trying to hire more support staff, however with little time to train, it’s a learn as you go process for many, which also takes its toll on the process.
With mortgage lenders being overwhelmed with record numbers of refinances and purchases, this also backlogs the title companies…and the home appraisers…and so on, and so on.
So what does this mean to you:
Other businesses that pertain to the sale of your home or purchase of a new home may be impacted as well!
IF YOU ARE A PAST CLIENT OF MINE, WITH A HOME WARRANTY FROM 2-10 HOME WARRANTY, PLEASE READ:
2-10 Home Warranty
It’s a great time to buy or sell a home! Work with an experienced Realtor® to help you navigate your way to a successful closing, and be sure to do your part to sign and provide documents in a timely fashion, in order to keep your transaction moving along and meeting deadlines.
Please do not hesitate to contact me if I can be of any assistance.
In today's fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, no all agents are created equal...CLICK HERE to read more.
Here is your monthly Market Update for June 2020!
This update is for single family homes within Boulder County, the City of Broomfield, and the City of Westminser. If you would like a market update for attached homes (i.e. condos and townhomes), please ask. I am happy to provide you with a Market Update and send it directly to your inbox, at no cost or obligation.
CLICK HERE to see the Boulder County stats.
CLICK HERE to see the City of Broomfield stats.
CLICK HERE to see the City of Westminster stats.
If you have any questions, or if you or someone you know are looking to buy or sell a home, please reach out; I am only a call, text, or email away.
With businesses reopening throughout the county and some experts indicating early signs of a much-anticipated economic recovery, more home buyers are actively entering the housing market this summer.
Locally, we are seeing multiple offers, and homes selling for over their list price in the hot, hot, HOT price range between the mid to upper $300,000's to the mid $600,000's.
Get the latest real estate market information for Boulder County Colorado! We are seeing a market recovery since the COVID Shelter in Place order in early March. This is good news for both home buyers and sellers!
I work all throughout Boulder County (as well as the City of Broomfield and Westminster).
If I can be of any assistance to you or anyone you know, please do not hesitate to contact me!
CLICK HERE May 2020 market stats for Boulder County. These stats are for single family homes. If you would like to see the stats for condos and townhomes, please just ask, I am happy to send them your way