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Rich's Boulder Valley Real Estate Report
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In the first quarter of 2016, the number of available single family homes is up slightly over this time last year, but the number of available condos/town homes is down. As a result, the median price of single family home is up about 10% in Boulder County from a year ago while the median price of condos/town homes is up about 16%. With inventory remaining low, the market conditions remain favorable to sellers. If you're considering selling and then buying another home, now is a good time for the initial sale. Finding a replacement property can present challenges. Some scenarios to consider:
Buy - Sell
If a good buying opportunity arises and you have the financial wherewithal to acquire it before selling your current home, by all means move forward. Current conditions should make for a rapid sale if your home is priced right.
Sell - Buy
Like most buyers, you may need to sell before buying. Right now, contingency offers are not viable. To be in the best position, you need to be ready to go. With inventory so tight, buyers in the current market often will allow sellers to stay in their home after closing for a period of time. I have had several closings this year where the buyer agreed to let the seller stay for free for two months after closing. This gave the seller time to find a replacement property and the ability to make a strong offer without a contingency.
Call me to discuss timing and strategy anytime. 303-931-6979
Best, Rich
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Boulder Architecture Crawl
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April is National Architecture Month. In Boulder, local architects will host an Architectural Crawl through the 15th Street Design District on April 29. The family-friendly street party will feature live music, food carts, activities for children, and open houses at participating firms. Read more about it on BoulderSource.com.
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- 30 year fixed conforming 3.75%
- 5/1 ARM conforming 3.375%
- 7/1 ARM conforming 3.625%
- 15 year fixed 3.125%
- 30 year fixed jumbo 3.75%
- 5/1 ARM jumbo 3.25%
- 7/1 ARM jumbo 3.375%
Rates provided by Calvin Cox at Commerce Mortgage at 303-931-8360.
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I appreciate your referrals and promise to provide excellent service that will make us both look good. Feel free to forward this e-newsletter or my contact details to anyone interested in Boulder Valley real estate. Thank you.
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| | Some proud RMB supporters of the YMCA |
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