Boulder Home Market Update

Blue Skies

Real estate is moving in the Rocky Mountains.  The skies are clear, blue, cloudless and alas, the inventory of homes feels the same. We need more houses on the horizon for the vast number of home buyers out there.

Low Inventory of Homes For Sale

Our Boulder market for homes is limited by extremely tight inventory.  There are just so few houses for sale today.  Likely, you have heard this before.  Why the lack of houses? Many owners are making homes into rentals.  It is a great time to be a landlord with rents up 20 to 30% from just a few years back.

Why Are There So Few Homes For Sale?

There are also a large number of owners who simply cannot move.  Why? It is so difficult to a get a home loan today.  Believe it or not, be timely on your mortgage through the recession is not enough to qualify for a new loan today.   And this is not about subprime loans.  There are folks out there with good jobs and a solid history of making a mortgage payment who no longer can qualify for the note they have. So staying put is the only option.

3207 w yarrow home for rent
This house is for rent in Superior. Homes like this need to be listed for sale!
3207 w yarrow home for rent
Walkout basement, 4 bedroom 3 bath home for rent in Rock Creek

Bottom line – there are not enough homes for sale.  This will cause two things to happen as Spring develops. First, buyers should expect to see multiple offers on houses and second, owners will see values increase.  And while buyers might want to wait it out, the downside is home mortgage interest rates are on the increase.  So, while there may be more selection of homes for sale in the not so distant future, these properties are likely to be more expensive in two ways. Prices up because of the demands in a low inventory Spring and more expensive month to month due to higher interest rates.

Best Home Buying Option For 2014

So what’s the best option? Create a relationship today with a buyer’s agent (yes, even me. I would be delighted to help you buy your home).  Start actively looking now and be prepared to act quickly. This isn’t 2009 when you could view 30, 40 or 50 homes to make a decision.  This is a fast moving market.

Give me a call today to discuss your home buying (or selling!) needs. 303-443-3334 – Bob

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