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Tag: Buying Real Estate
“Relocating to Boulder, Colorado?”
I just got off a conference call with a real estate broker from Valencia, California where they are receiving multiple offers on properties, especially those priced below $500,000. Is this good news for Colorado real estate and especially Boulder real estate?
In the early 90’s when California was faced with earthquakes and riots, the Californians were anxious to move to Boulder, Colorado. In the last few years there have been many Californians with the desire to move to Boulder however we didn’t take them too seriously because it was impossible for them to sell their homes in California in order to relocate to Boulder, Colorado. However, now that their homes are selling in California lets hope that holds optimism for Boulder County Real Estate!
Where have all the good builders gone (and the other rumors)??
You know how when you see a great movie or eat in a fabulous restaurant you just have to tell everyone about…well…this message is really more of a testimonial, endorsement.
I have always been a raving fan of McStain Homes during my 26 years selling real estate in Colorado. I have sold more McStain Homes than any other builder. This was not a plan, they were just great homes.
With so many Colorado builders going “belly-up”, many buyers are concerned about after closing warranties, which is a valid concern.
Well…here’s the story…I have a resale McStain Home listed. Now, McStain Homes have always been great with after closing service but this home is 8 years old!
A potential buyer raised some concerns about the construction. The sellers called McStain and within 24 hours the customer service rep for McStain was at the property acting like a superman coming to save the world!
He pulled workers off of jobs to make any repairs that might be a concern to this or any buyer for FREE! His comment was, “we want to help all McStain homes sell wherever!”
I have know this sort of service to be standard for McStain through the years, but, honestly we all wonder in these time when nearly everyone is cutting costs…will even the best need to reduce their standards? Maybe some, but not McStain. I took a few lessons from this…
I will work hard to have someone tell a story like this about my company. I was wise to sell so many McStain homes and I will continue in confidence to do just that for many years to come!
“THINKING OF BUYING A NEW CONSTRUCTION HOME?”
If you are thinking of buying a new construction home especially in Colorado, there are a number of builders that have an overstocked inventory. It is very important that you hire a great buyers agent (like the buyers agents here at The Bernardi Real Estate Group!) to represent you. It is imperative to understand how stable a builder is, what is the probability of them continuing and finishing out the project, what the homeowner fees are, if there were any special tax assessments and especially what kind of a buy can you get on the new construction properties. These are the things that buyers agents working with The Bernardi Real Estate Group can help you with.
With over 100 years of combined real estate experience in Boulder County, The Bernardi Real Estate Group can help you like none other. Give us a call at 303-402-6000!
“HOW IS THE BOULDER REAL ESTATE MARKET HOLDING UP COMPARED TO THE REST OF THE U.S.?”
Because I have been among the top real estate agents in the nation for over 20 years, I have the opportunity to network with many various agents from around the country. Because of this network, I stay pretty closely attuned to what is going on in luxury real estate markets in the rest of the country. So far, Boulder luxury real estate is pretty healthy compared to the rest of the United States. If you would say that the luxury real estate markets in the rest of the country are dying then you would say that in Boulder Colorado our luxury real estate market just has the flu. Good homes in good locations that are priced well are still selling in this real estate market. They have to be in good condition and buyers are pickier but we are still selling houses in this real estate market. In fact, in 2008 The Bernardi Real Estate Group sold 168 properties.
Around the country, real estate depreciation has taken a toll on many luxury real estate markets. Miami is seeing depreciation at about 1-2% a month, Las Vegas is depreciating up to 3% a month, Southern California is depreciating 1-2% a month and in Detroit some houses are selling for $8000 that were formerly sold for $100,000 because there are so many foreclosures in that real estate market.
So, once again, if you are buying or selling real estate in Boulder County then we are still in a relatively healthy real estate market compared to the rest of the United States.
“ARE THERE ANY LIVE BUYERS OUT THERE FOR BOULDER COLORADO REAL ESTATE?”
I was just talking to a potential seller that called me on the phone today and he asked “Are there any live buyers out there?”. Of course I giggled and said yes there are live buyers out there and there are actually even some realistic buyers as well as qualified buyers.
The thing that’s important to realize is that buyers are cautious and there is so much on the market their perception is that they can keep on looking and looking and looking. In the city limits of Boulder between the price range of $550,000-$750,000 there are 146 homes on the market and 19 of those homes are under contract. Buyers do have quite a selection to choose from. Years ago we would show buyers 5 homes and since that was all they had to choose from they therefore had to choose one. What buyers think now is that they can keep on looking and looking and looking and looking until they find a home the perfect home. The problem is that the perfect home never exists. Live buyers and qualified motivated buyers eventually get real when there is a motivation to move such as the family has grown, they are getting a divorce, they are moving up or down in price, they are relocating into the area or they have had a job promotion and want to take advantage of it (yes, believe it or not, there are actually people getting promoted and getting raises in this market.)
The key is that we are in a price war as well as a beauty contest. Homes, even in beautiful Boulder Colorado, need to be priced correctly in addition to being pretty. Only then will you win the prize of a live buyer buying your home.
Bernardi Buzz 