Around the water today (well, actually the coffee maker), talking with several Boulder Realtors. The first guy says, “Well, we offered $31,000 over list price. And we didn’t get it.” And the second one says, “my client beat out six other offers. We offered 110% of list price.” The third agent just shakes his head and wonders, “what the heck is going on with Boulder Co Homes For Sale & Real Estate.”
2015 Boulder Sellers Market
We are deep into a very strong Home Sellers Market. Indicators include:
- Massive lack of available inventory.
- Strong Buyer demand exceeding the limited inventory.
- Community factors such as robust economy and low home mortgage rates.
- Number of new listings is decreasing, at a time of year when things generally improve.
There are currently no indications that this phase of the Boulder Co homes for sale & real estate market is likely to change any time soon. One of the complex factors affecting the market is the declining inventory of available homes for sale. There are several reasons for this.
Lack of No-Income Verification Mortgages
Some home owners no longer qualify for a mortgage. Back before the Great Recession, “no-income verification” mortgages allowed buyers with stellar credit to buy. Don’t confuse this with sub prime mortgages. Different group. The no-incomers group accounted for a large number of self-employed, those adept at writing off their income, high income earners with high debt, etc. This group still owns their homes, in good standing. But they can’t get a new mortgage; so they don’t sell.
Baby Boomers Not Buying Up
Demographically, the baby boomers are not trading up to larger houses. This group is now downsizing or relocating to warmer climes for a second seasonal home. The boomers are seeking to trade down in house size. They are running smack into the Millennial Generation that is looking to get out of Mom & Dad’s basement. So there is heated competition for inexpensive Boulder Co homes.
Stagnant Incomes Post Recession
While the economy is booming, incomes are not climbing. Not yet at least. This is preventing many that would trade up to larger, more expensive Boulder Co homes for sale & real estate opportunities from making the move. So their homes are not listed for sale. On the other hand, home mortgage interest rates remain low, so buyers that can make the move into housing are out in droves. And the cost of renting is getting higher and higher. So if makes good financial sense to buy into the Boulder Co homes for sale & real estate marketplace. Read more on the economic realities of housing from Forbes.
Ready To Find My Own Little Piece of Boulder
Ready to find your Boulder Co homes for sale & real estate opportunities? Realtor Bob Gordon with Berkshire Hathaway HomeServices can help you with the process. Bob is adept at helping his clients stand out from the competition. How? A great strategy is shooting a video of you in the seller’s home explaining why you love the house. This is a great way to stand out from the competition. See the story of Ben & Emily buying their first home to hear how it all worked out. Bob’s solid knowledge of the home market is another advantage (20 years in the business locally and an avid blogger).
Searching For Boulder Co homes for sale & real estate
Contact Bob now with the details of your home search. Or use one of the preexisting searches such as:
- Boulder homes $700,000 to $800,000
- Boulder Co homes for sale & real estate backing to open space, under $1,000,000
- Historic properties for sale
- Homes near Chautauqua Park
- Homes for sale near Interlocken
Or read about some of the neighborhoods around the area:
- Lower Chautauqua, just below the beloved park
- The Newlands, an uber popular community nestled around North Boulder Park and walking distance to The Shoppes at Broadway.
- Blue Heron Estates, a community of larger homes centered around a private green with big trees and a community swimming pool.
- Rock Creek, a California style subdivision popular with families