Category Archives: Boulder County Real Estate

6 Buying & Selling Myths You May Believe

As we enter the new year, folks thinking about buying or selling start to get more serious. There are a few common “myths” that both Buyers and Sellers have when purchasing or selling a home. The six highlighted in the article are only a few, but probably the most common. Call me if I can assist you with either the sale or purchase of a home.


~ Andria Allen, 
303.810.8375


6 Buying, Selling Myths Your Clients Believe

Source: REALTOR® Magazine

Home buyers and sellers may have false assumptions about the real estate transaction process, believing in myths that could rob them of a purchase opportunity or keep them from selling for more money. Leaders of the Orlando Regional REALTOR® Association culled the top myths consumers fall for...Read More

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How is the Local Real Estate Market?

How is the local real estate market? The article below provides great information about the areas surrounding Boulder County. I personally believe the surrounding areas are increasing in activity and price due to the fact that the average home price in Boulder County makes it unattainable for many Buyers. We have seen the average home price continue to increase in Boulder County. This trend is contributing to the hike in the surrounding areas as well. If you are interested in finding out the market value of your home, give me a call.

~Andria Allen

303.810.8375


Wellington, Berthoud and Johnstown see double-digit home price hikes

Source: Coloradoan.

Home prices throughout Northern Colorado continue to escalate, with some towns seeing double-digit price hikes.

Overall, Northern Colorado’s median home price in August was $425,000, up nearly 15 percent year over year, and $292,000 for townhomes and condos, up 19 percent.

Fort Collins’ median home prices hit $420,000 after the first eight months of the year, another record high in the city which had 1,607 closed sales through August, a slight drop from a year ago…Read More

Kind Words from Brian & Barbara

Brian and Barbara, thank you for your kind words. It was an honor and a pleasure to assist you with the sale of your lovely home.


“Our family home of 35+ years was designed by our father and construction overseen by our mother. It was time to sell and Andria was extremely sensitive to the deep sentiment that was attached to this property. She kept us informed throughout the entire process. The marketing of the property was second to none. The house was under contract within four days of going on the market. Passing of papers went without a hitch. I can’t say enough kind words about Andria and would highly recommend her to anyone looking for an agent in the Boulder and tri-city areas. Brian & Barbara”

What are you paying for in the real estate commission when you sell your home?

What are you paying for in the real estate commission when you sell your home? Why work with a Realtor at all versus selling your home on your own – especially in the current market? Well, besides the online and print marketing, signage etc offered in some variety by most brokers, there are other intangible benefits.  I’d like to share the following article with you to help explain what a good, professional realtor (like me) brings to the transaction, why I add value to your home sale process and ultimately help you net more in proceeds than if you try to sell your home on your own.  Call me if you have questions or if I can help you with any real estate needs.

Andria


10 Skills You Have to Calm Commission Gripes


Source: REALTOR® Magazine
By Tonya Eberhart and Michael Carr


Even if you’re armed with vast amounts of knowledge of the industry, it isn’t very valuable without experience. To use a sports analogy, imagine that Michael Jordan had all the skills necessary to be a basketball phenomenon in his early teens but never put them to use. Would he be the hoops superstar he is today? Without the experience of playing the game, the short answer is no.

You are no different. Without experience dealing with the ups and downs of the real estate market, you wouldn’t have the answers to the critical questions your clients seek. Is a certain obstacle to the transaction really a deal breaker? Why are certain homes selling faster than others in a particular area? Which marketing tools have been proven to work best to attract a specific customer? Which negotiating tactics are likely to move things to the closing table faster? In the second part of a three-part series, let’s look at how your experience supports your commission with tips drawn from our book, 31 Reasons Your Real Estate Agent Is Worth Their Commission.

1.    You’ve got tools your clients don’t have. You could pull your own bad tooth with a pair of pliers, but the dentist—who went to school to learn and practice the skills of dentistry—has all the right tools. And after the procedure, the dentist knows the next step. Similarly, when it comes to real estate, only you know all the rules, pitfalls, and expectations. Display confidence about your real estate skills in every conversation you have with potential clients. Back that confidence up with stories or data that demonstrate your skills.

2.    You’ve got relationships your clients don’t have. You use the skills of your job as a real estate agent every day. You meet with buyers and sellers who are looking for the right property or opportunity. That means you form acquaintances and relationships that also prove invaluable over time. And you work to foster those relationships and stay on top of what matters to them. Many times, you will have a buyer in mind before you even attain a listing. Your prospects need to know this.

3.    You’ve turned objections into opportunities. You hear “no” every day. While buyers and sellers might think that is an absolute answer, you can see what is flexible and fixable. You can confidently navigate treacherous waters because you have overcome obstacles in transactions before, many of which your clients didn’t even know existed. Experience is often unveiled by answering questions your clients didn’t even know they needed to ask.

4.    You’re more efficient at solving problems. Most people are not aware of the time that can be wasted when issues arise, unnecessarily prolonging a closing. But they definitely feel the frustration when it happens. You, however, can see through 99 percent of those issues (many of which are simply excuses) and know how to circumvent them or bypass them completely, saving your clients time and often saving the deal.

5.    You bring education and modern technology. Strategy is paramount in real estate sales. Experience provides that extra 5 percent difference that often leads to the 26 percent better return on your client’s investment. You take continuing education courses every year to learn the latest guidelines, techniques, and tactics to do your job like a pro. Through your associations, you have access to every gadget or tool that gives your client’s property a competitive edge, and many of them are exclusive to your industry or brokerage.

6.    You’re loyal to a fault—and that’s priceless. Once your client contracts with you, you are not only required by law to look after their best interests but you also willingly offer them your loyalty. Take the story of Tenzing Norgay. When Sir Edmund Hillary became the first person on record to reach the top of Mt. Everest, Tenzing Norgay was the Sherpa who was pushing him while carrying his backpack. Even when you don’t receive the credit, you remain loyal and steadfast. And this loyalty wins you more than the deal—it wins lifelong customers.

7.    You act as your clients’ “broker.” “Broker” can be a noun that describes a person in a lot of industries—stock broker, franchise broker, mortgage broker—and it’s the definition most consumers think of. However, “brokering,” as it pertains to doing deals in real estate, is a verb that, by definition, describes why all real estate professionals are worth a commission. Just ask any investor whose agent was able to use their experience to navigate a multiple-offer deal by negotiating terms rather than price. The average buyer or seller may not realize how much your brokering experience can affect the bottom line of their investment. It’s imperative to communicate it early in the process.

8.    You’re the first to know. You often get the first peek at properties that are off-market or hitting the MLS soon. You know about planning and development for your area, as well as the players who are making it happen. You know about market changes that can directly affect pricing, timing, and speed of sale. This edge can put your buyers and sellers in an advantageous position that they would never realize without your experience. Many times, agents have sold a property before it even hits the MLS because of this experience.

9.    You’re always accessible. Many of you are accessible seven days a week, 52 weeks a year. And most of you have your family trained to expect a little interruption on occasion. There are few industries where this accessibility is expected more than in real estate. Obviously, everyone needs down time and to properly prioritize, but one of the reasons you’re worth the commission is because you’re there when your clients need you. Most of you have sacrificed both professionally and personally at one time or another to meet this expectation. Your clients should know that access is invaluable.

10. The statistics are on your side. There are more than 500,000 active full-time agents and more than 6 million housing units sold each year in the U.S. That represents the vast majority of buyers and sellers who utilize and pay for an agent to help them navigate the highly competitive and complicated real estate process. In fact, 88 percent of buyers purchased their home through a real estate agent, but among those who used the internet to search for homes, that share goes up to 90 percent, according to the National Association of REALTORS®’ Real Estate in a Digital Age 2017 Report. Hiring someone with your experience can save your clients both time and money, a fact that has been proven time and again with sound statistics.

WK Real Estate Featured in atHome Magazine

WK Real Estate is proud to be the largest independent real estate company in Boulder County. Our local connection to our community gives us the ability to serve our friends’ and clients’ needs with precision, and our global engagement and presence allow us to offer assistance and expertise worldwide. Read more about our origin, vision, and mission to #DoMore2018 on pages 12-13 of this atHome article!

 

May is the Best Month to Sell Your Home

Many clients ask, “When is the best time to list my home?” That can certainly differ based on your location. A resort home at a ski area might be best in the winter. There are statistic just for this purpose. I personally like to list properties once there is some greenery and blooming taking place. April for example. The article below states that May is the best month to list here in Colorado:

This Just In: Data Says May is the Best Month to Sell Your Home

Of course, you ultimately list based on what your life dictates. In my opinion, there is not a bad time to list – just better times to list.

If I can help you with any real estate questions or needs, or you are interested in a free market analysis, please give me a call.

Andria Allen

303.810.8375

How much apartment will $1,500 get you in Boulder County?

We’re all hearing about the rising cost of rents – all across the US. However, if you need a reason to purchase versus rent, the article below is a good one.  While it can be difficult to save for the down payment, it’s so worth it when your apartment rent could be a mortgage payment, and for a lot more square footage.

If you’re still renting, give me a call.

Andria Allen 303-810-8375

Squeezed: How much apartment will $1,500 get you in Boulder County? Not much

Renters get less for more as apartments shrink

By Shay Castle

Staff Writer

What can you rent in the Boulder Valley for $1,500?

Erie: 1,360 square feet / $1.10 per-square-foot average

Longmont: 1,200 sq. ft. / $1.25

Lafayette: 1,150 sq. ft. / $1.30

Broomfield: 1,100 sq. ft. / $1.36

Louisville: 1,050 sq. ft. / $1.43

Boulder County: 870 sq. ft. / $1.73

Denver (city): 840 sq. ft. / $1.78

Boulder (city): 760 sq. ft. / $1.99

Just how much apartment will $1,500 a month get you in the Boulder Valley? That depends on where you’re looking.

In Erie, for example, that amount can rent a roomy 1,360 square feet, according to a recent report from online rental marketplace Apartment List — enough for three bedrooms, a couple of bathrooms and a decent-size kitchen.

Renters in the city of Boulder will be a bit more squeezed: $1,500 a month will afford just 760 square feet of space.

That’s decidedly more than the shoeboxes available in New York or San Francisco for that price (340 square feet, in case you’re wondering). Still, Boulder apartments remain among the most costly in the state, fetching more than comparable units in Denver, itself among the priciest markets in the country, alongside major metros like Boston, L.A. and Washington, D.C.

“Apartments tend to be smaller in the most expensive markets,” said Chris Salviati, who authored the study for Apartment List, so the disparities “are more extreme.”

For example, he said, Denver — where $1,500 a month pays for 840 square feet of living space — is 2.1 times more expensive than Indianapolis, the most affordable of the major metros at 1,770 square feet for $1,500.

In fact, compared to Denver, the rest of Boulder County is a steal. Apartments in Louisville at that price average 1,050 square feet; in Lafayette, 1,150. Longmonters can call 1,200 square feet home for $1,500 per month.

But generally, the trend across the nation has been one of renters paying more for less. In 2006, the average apartment was 1,015 square feet. Ten years later, that had shrunk 8 percent, to 934, according to leasing platform Rent Cafe, an affiliate of real estate software company Yardi.

Meanwhile, median rents during that time rose 41 percent, from around $600 in 2006 to just shy of $850 in 2016, according to Census Bureau data compiled by Time magazine.

In response to increasing costs, many renters locally are fitting more people into apartments, said Bob Danos, owner of Longmont property management company PML.

“I’m seeing a lot more two-family households under one roof, splitting the rent,” Danos said. “A lot more people with roommates than what you’d see before.”

Danos said Apartment List’s per-square-foot figures sounded “a little high,” arguing that Longmont, for instance, was in the $1 to $1.10 range on average. (Apartment List has before admitted that listings for luxury units skew its data, and has taken steps to correct that imbalance.)

Prospective tenants don’t typically inquire about price per square foot, Danos said, nor are they considering the total square footage. Typically, the most important factors are numbers of bedrooms or bathrooms.

Apartment List’s Salviata said it is important to visualize rental costs in this way because it throws into relief just how expensive things have gotten.

“Stating it in terms of the number of square feet you can get a fixed price point helps put the disparities across markets into a unique perspective,” he said. “Most people have a sense, for example, that apartments in Denver are (less) expensive than those in San Francisco, but probably don’t realize that in Denver you get 2.5 times more space for the same price.”

Shay Castle: 303-473-1626, castles@dailycamera.com or twitter.com/shayshinecastle