Trends

“RECESSION PROOF YOUR HOME”

One way to recession proof your property against depreciation in what many would consider to be a declining luxury real estate market is that you own a home in beautiful Boulder Colorado. That may be your first and most important step in recession proofing your home.

Updating your home and keeping it well maintained including keeping the roof in good repair and getting the kitchen and bathrooms updated are the kinds of things you should do in case your life situation changes and you need to move quickly. If you keep up with the maintenance on your home then your home will be ready quickly and in perfect condition to sell. In addition to being ready for the possibility of having to sell you also get the joy of living in a property that is updated. Remember that in many cases your home is your most important investment so keep it in good repair.

If you ever want a list of people who can help you with keeping your home up to date such as decorators and contractors or you just want an evaluation of your property to see what the value is in the current real estate market, then give us a call here at The Bernardi Real Estate Group because that’s what we do.

Trends

“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.

Trends

“HOW DOES THE BERNARDI REAL ESTATE GROUP STAY #1 IN REAL ESTATE SALES IN COLORADO?”

Year after year real estate agents from all over the country call me to ask, “How do you do stay consistently the #1 agent in Boulder and Colorado?”

It makes me think, in fact, how do we do it? My first answer is that we work smarter. To be the #1 team year after year, formerly the #1 agent with ReMax, formerly the #1 agent with Century 21 in the country and to be in the top 10 in the country with Coldwell Banker year after year has not been an easy thing and it has required a great deal of focus and energy.

The most important thing that I have done is that I have built an incredible team around me. The difference between me and other agents is that I truly delegate different responsibilities to my team members and we specialize in every area of the transaction. Instead of me being out all day long with buyers and then coming back to the office to service my listings, I use my time wisely to drive sales. I spend my time trying to find buyers for listings, advertising my listings, answering my calls, servicing my listings so that they actually sell and negotiating the best price I can for my sellers. My buyers agents are out all the time with fully qualified buyers and relocation buyers and focusing their entire energy on servicing their buyers and helping to get our listings sold.

The 2nd thing that we do is we try to keep our atmosphere really positive. We don’t listen to the news and we are constantly reading new and different books to keep us motivated.

The 3rd thing that we do is that we practice and constantly hone our skills. We role play how to handle buyer calls and how to handle the various situations that come up as we sell real estate.

The 4th thing is that we market more than anyone else. Most real estate agents cut back on marketing during these hard times but in our office we believe that keeping our name and the exposure to our listings out there is of the upmost importance. If you live in the city of Boulder or close by we hope that you have heard of us.

The 5th thing that we do is that we operate as an aggressive sales team. We don’t wait for people to call us but instead we call them. We spend our day searching for people with whom we can share the great news of our fabulous listings. We don’t just sit around and wait.

The 6th thing that we do is we are constantly studying the Boulder luxury real estate market and we stay ahead of it. We never want our sellers to chase the market down so we want our listings to be the best price and in the best condition of anything else on the market.

The 7th thing we do is that we work to make our homes the prettiest by working with great stagers. This is so that people feel like they have great alternatives such as instead of just paying for their home to be staged they can have to option of having a home manager live in their property while it is on the market so that their property can be ready for showings at any time.

News, Trends

“SOME GREAT NEWS FOR THE BOULDER REAL ESTATE MARKET”

I just received an email from my investment banker saying that the Dow Jones Industrial rose more than 140 points to snap the 3 day slide in the Dow. This is likely because of great news that home sales earnings actually rose in the last quarter. Good news for us and in Boulder, Colorado lets hope that we see this trend continue. We here at The Bernardi Real Estate Group are doing our best to boost sales in Boulder, Colorado.

Trends

“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.

Trends

“THE SKY IS FALLING!…BIRD FLU/ECONOMIC CRISIS”

What ever happened to the Bird Flu? A year and a half ago all I would hear on the news was stories about the Bird Flu. My 85 year old father was afraid to go out and feed the birds at his retirement complex. Many became fearful that it wasn’t going be safe to eat chicken. Questions were raised such as, “Is it going to cross over?” or “Is it going to mutate?” It was a crisis and when I would flip thru the channels or read the newspaper not a day went by that I didn’t hear about the Bird Flu.

Fast forward to a year plus later and all we hear about is the economic crisis. We are bombarded with messages like –“The crisis…The crisis…The economic crisis!” The media may as well be saying, “The sky is falling…the sky is falling!”

What does this have to do with the luxury real estate market in Boulder, Colorado? Or for that matter buying a home at anytime?

In the words of Teddy Roosevelt, “The only thing we have to fear is fear itself…” With the news media feeding on our fears and us feeding on the fears that are driven by the news media, we have developed an exaggerated fear of the present economy. Just as we had too much confidence in the economy in that we could all expected to continue to see rising real estate prices in Boulder and that we were immune to any logical thought.

There are great buys and opportunities in any luxury real estate market, especially this one. Interest rates are at 5% & below with loans that are still attainable to people with reasonable credit and a good income that substantiates whether they can make their payments on a continuing basis. The times right now call for logic and they should not be driven by fear and paranoia. There are great investments to be made in luxury real estate in Boulder, Colorado as long as we are not driven by fear and greed.