RE/MAX of Boulder put twice as many homes under contract in January 2010 as compared to January 2009. The robust market is due to remarkably low interest rates, the extension of the federal tax credit to first-time buyers as well as some current home owners, and great buying opportunities - especially in the upper price range. These conditions persist today. Therefore, if you are considering buying or selling, now is an optimum time to act.
To qualify for the tax credit, buyers must be under contract by April 30 and close by June 30. These deadlines and an expected rise in interest rates are driving momentum in the market.
Right now, I am helping several buyers and sellers take advantage of these conditions. If you are even slightly inclined towards action, I am well prepared to answer your questions and provide straightforward advise -- give me a call any time.
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The squeeze on Jumbo Mortgage Loans has eased up a bit in the last couple of months. The difficulty in securing a jumbo loan took a serious toll on high end sales in Boulder County in 2009, but since late in 2009 those loans have become more accessible and interest rates have dropped. Thus the dramatic increase in sales of $1 million + homes starting in December 2009.
I work closely with several seasoned lenders who are doing a great job securing jumbo loans for new purchases and for re-financing. Give me a call any time to discuss your options.
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A few market highlights: Looking at current listings, 60% of the single family homes in South Boulder under $500k are under contract compared to 25% throughout the rest of Boulder. 60% of the single family homes in the Uni-Hill neighborhood under $650k are under contract compared to 25% throughout the rest of Boulder. These properties are selling to parents of CU students, which shows investors from other areas see the value in Boulder.
Single family homes in Louisville are going under contract quickly with many Realtors commenting that inventory is very low. Lack of inventory is also a challenge in central Boulder. So, if you are considering selling, market conditions are very favorable. Call me to get your house on the market as soon as possible.
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Rich Gribbon 303 931 6979
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