News to Know This Month: Real Estate Update

News to Know This Month

Where are all the showings? This is the most common question I’m hearing from sellers right now. The home is priced well, the condition is great, but the total number of showings are lacking that frenzied back-to-back showing schedule we saw previously.

And that’s okay.

It only takes one serious buyer and showing to sell a house, and I can assure you buyers are still out there. However, we are in a market where we need to be patient and confident that a home will sell, it just may take longer overall with showings spread out over a period of time.

Buyers, this doesn’t mean you can necessary get a home for significantly under asking price, as many sellers know the worth of their home and aren’t willing to take a low offer. However, this does mean there is typically room for more negotiation. The most common trend I’m seeing is sellers offering concessions that can be used to buy down an interest rate or be used toward closing costs. This can lessen the total amount of cash you’ll need to bring to the closing table.

As always, let me know if I can offer any assistance with your real estate needs!

~Andria Allen

303-810-8375

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Corn Mazes and Pumpkin Patches

Your guide to corn mazes and pumpkin patches along the Front Range is here, complete with an interactive map…Read More

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20 Questions to Ask When Selling a House

Thinking about selling soon? Here are 20 questions to ask your real estate agent as you prepare to sell your home…Read More

News to Know This Month: Real Estate Update

We know it’s been a scorching summer in some parts of the country, while Colorado has remained relatively cool. But what about the temperature of Colorado’s real estate markets? The Realtor.com Market Hotness Index indicates the degree to which a given area experiences fast moving supply and high demand. Here are how Colorado’s major cities land on the hotness gauge this month:

While the nation’s median list price declined compared to the same time last year for the second month in a row, things looked slightly better in the greater Denver metro area. Median price in July 2023 came in at $675,000, a respectable 3.8% increase year over year, thanks in part to the classic effects of supply and demand. Read Full Article

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Local Snapshot

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Insurance Tips for Wild Weather

Virtually every rooftop on the Front Range has been hit by hail. It’s not a question of “if” but when, how often and how big…Read More

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The Math on Solar

Chances are, you’ve seen rooftop solar panels in your neighborhood and might be wondering if solar makes financial sense for you. Here are some considerations…Read More

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Gas Mandates on Horizon

Boulder’s 2023 energy code will likely include an update that bans gas hookups in new construction. Find out why! Read More

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Decoding the Housing Market

Is another correction coming to the housing market? Even the most reliable source can’t agree. See how predications have changed since the beginning of the year…Read More

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Rhythm at Roosevelt

For the past several years, WK Real Estate has been a proud sponsor of Rhythm on the River. This year we’re continuing the tradition as the event transforms into Rhythm at Roosevelt and moves to the cooler month of September. This one-of-a-kind music festival features live music, food trucks, beverages, and fun for all ages. Join us September 16 from 2:00 p.m. to 10:00 p.m. at Roosevelt Park in Longmont. Be sure to stop by our booth for some fun giveaways!

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News to Know This Month: Real Estate Update

News to Know This Month

I recently read a headline reading “buyers think it’s 2008 and sellers think it’s 2022”, and that perfectly sums up our current market. Buyers are looking for a deal, thinking higher interest rates and the country’s economics are keeping home prices down, similar to when the market crashed in 2008. Sellers, on the other hand are feeling like houses are selling quickly due to inventory shortages, thus making it a strong seller’s market similar to 2022.

So what is the market really doing? In most areas along the Front Range, homes in good condition and priced under $500,000 are selling incredibly quickly with the renewal of the infamous bidding wars.

However, homes at higher price points are taking much longer to sell than the 2022 market. This is evident in the stats chart below, looking at Days on Market. Boulder, with the highest median price point, also has the highest days on market (up 93% compared to the same time last year).

Move-in-ready homes are definitely the most desirable home right now, making renovations prior to selling more important than in past markets. If a home needs work, even if it’s priced well, you can anticipate it taking longer to sell.

As always, let me know if I can offer any assistance with your real estate needs!

~Andria Allen

303-810-8375

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The Value of a Home Inspection

A home inspection is a crucial step in the home buying process because it can reveal potential problems that may not be apparent to the buyer during a showing or walk-through…Read More

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A Star Gazing Guide in Colorado

Colorado offers a remarkable opportunity for star gazing enthusiasts to immerse themselves in the wonders of the universe during these warm summer months…Read More

News to Know This Month: Real Estate Update

News to Know This Month

As summer reaches its peak, the real estate market is ablaze with activity. However, the current state of affairs leans towards a buyer’s market.

With the market down, prices have dipped, resulting in lower price tags, longer days on market, and fewer sales overall. Despite this trend, properties priced under $500,000 continue to fly off the shelves, especially attracting first-time home-buyers.

One significant factor affecting the market is the high interest rates. Many prospective buyers and sellers are adopting a cautious approach, waiting for more favorable conditions before diving into the market.

As always, let me know if I can offer any assistance with your real estate needs!

~Andria Allen

303-810-8375

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How To Win A Real Estate Bidding War

In a hot real estate market, it’s not uncommon for buyers to find themselves in a bidding war for their dream home. Bidding wars can be intimidating, but there are strategies you can use to increase your chances of coming out on top. Read More

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Boulder 4th of July Celebration is Back!

We’re excited to announce a whole new experience for Boulder’s 2023 4th of July celebration! Join us at Folsom Field to experience Boulder’s first night sky drone show in place of traditional fireworks. Read More

News to Know This Month: Real Estate Update

With the recent dramatic changes in interest rates, people are asking, “How is the real estate market?”  I thought you might enjoy more information about this topic and some statistics to support this information. I’ve included some holiday giving ideas as well.

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Forecast Cooler

Winter is coming, and the housing market is slowly freezing over. Since late last winter, mortgage rates have risen more and faster than at any time on record going back to 1971. So what does that mean for your real estate market? Read More

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Share-a-Gift 2022

Words cannot express how grateful we are for the generosity of those who have donated to Share-a-Gift. The money and toys will be going directly to kids in low-income families…Read More

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Boulder Single Family Homes – Monthly Market Statistics

Here is the latest overview of our local market stats comparing the market from October 2022 to October 2021…Read More

News to Know This Month

Please contact me for any of your real estate needs at: 303.810.8375

Local Nurseries and Springtime Flowers

April showers are right around the corner, meaning that it’s nearly time to start spotting flowers! As soon as nightly temperatures consistently stay above freezing, you can begin…Read More

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Days On Market – Simple number speaks volumes

DOM: Days on Market
The number of Days a property has been On the Market.
This simple number can speak volumes about a property. The longer…Read More

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Medical #MatchDay – New doctors need housing

You are there every day for your patients. We, at WK Real Estate, are there for you! 🩺 It’s Match Day! Were you or someone you know matched with…Read More

News to Know This Month: Real Estate Update

News to Know This Month

I love New Year’s Day. There is something about starting fresh, with a clean slate, new goals and a renewed energy to tackle those bucket lists and to-do lists. If you’ve been shopping for a home or looking to sell, it’s also a chance to look at the market in a new light.

Inventory is selling at a record breaking pace – great for home sellers, even in what many people consider the “slower” winter market (no slowing down this year!).

Interest rates are incredibly low for a majority of buyers – it may take more than one offer before your dream home becomes a reality, but mortgages are more affordable than ever.

I hope you had a fantastic holiday season, and greet 2022 with joy and laughter.

~Andria Allen

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Source: IRES and REColorado comparing Nov 2020 to Nov 2021

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Donation Guide

Getting organized and decluttering your home? Save the environment while cleaning those closets and use this handy donation guide to find out where to bring your household items! Read More

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DoMore #theWKway

It has been quite the year of giving back – supporting the people and places that make the Front Range the very best place to live. Here’s a recap of all the organizations and ways WK made the Front Range better in 2021. Read More

Winter Housing Market Update

As we approach the holiday season, I just wanted to take a moment to say thank you and to express my gratitude to each and every one of you. I am successful in my business because of the fantastic support, trust, and commitment you have shown. I love what I do, and I am thankful every morning that I get to follow my passion and help home buyers and sellers find that perfect next step in their journey toward creating a healthy and happy lifestyle.

Thank you,

Andria Allen

303-810-8375

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Local Snapshot

Data compares September 2021 to September 2020 from DMAR and BARA statistical reports.

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The Subjective Nature of Affordability

It’s a common misconception among today’s homebuyers that earlier generations had it easier when it came to buying a home. Prices were so much lower 25 years ago, right?

A new report by Black Knight says different. The industry analytics company recently released its Monthly Mortgage Monitor report, which includes a detailed analysis of home affordability nationwide. According to the report, the average monthly mortgage payment today consumes 21.6 percent of household income. That’s the highest it’s been in the last three years. However, over the past 25 years, the average mortgage payment has consumed 23.6 percent of household income for homeowners nationwide.

Objectively speaking, today’s homebuyers have roughly the same ability to be homeowners as their parents.

Todd Teta, Chief Product and Technology Officer at ATTOM Data, explains: “The typical median-priced home around the U.S. remains affordable to workers earning an average wage, despite prices that keep going through the roof. Super-low interests and rising pay continue to be the main reasons why.”

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Generation Wars in the Housing Market

Millennials are the single biggest generation among current homebuyers. But increasingly, they find themselves competing against Boomers when shopping for homes. Read More.

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Looking Ahead by Looking Back

After a year like this for home prices, everyone asks, “What’s next?” History may provide answers. Housing along the Front Range since the 1970s has had three states: flat, up, and bubble-bust. Read More.

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Shifting Priorities in Home Design

The last 18 months has triggered a tectonic shift in the types of features owners and buyers want in a home. Here are the top 5 requested amenities. Read More.

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WK Real Estate Gives Back

Community means everything to us at WK. We live and work here, which is why our company, agents, and staff are eager to participate in fundraising events and other activities throughout the year. Read More.

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News to Know in October: Real Estate Update

News to Know This Month

The fall real estate market is in full swing with little signs of slowing down. Mortgage rates remain low keeping buyers in the market, and average home prices continue to increase on the sellers’ side. As new inventory arrives on the market, it goes under contract quickly, leading many to see an “inventory problem”. However, upon a closer look at the numbers, in most of the front range markets, we have more sold transactions year to date than last year, indicating that in fact we have housing inventory coming in, it just continues to sell at a faster rate. For example, according to the Colorado Association of REALTORS® the City of Boulder has 18.7% more sold listings that this time last year, and the City of Denver is up 14.3%.

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Corn Mazes & Pumpkin Patches!

Crisp fall air, crunchy leaves under foot, and a spiced pumpkin latte in hand? Must be fall, and that means time to try a corn maze and pick out the perfect pumpkin. Find the closest one to you with this handy map and list. Read More.

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Best Real Estate Company: Boulder County Gold

This year, WK Real Estate won its 21st award for Boulder County Gold: Best Real Estate Company. Thank you to everyone who voted for WK – it has been an absolute pleasure to work with each and every one of my clients, and I’m ecstatic to work at the best real estate company out there. Read More.

News to Know This Month: Real Estate Update

News to Know This Month

A slight cooling of the real estate market is visible in subtle ways throughout the Front Range. Although there are still multiple offers on homes, especially in the first-time buyer price ranges, less offers are being presented at one time. Some homes are only seeing a single offer that would have had 5 or 6 offers a few months ago. Buyers are considering more cosmetic details again such as carpets, cabinets and overall home condition prior to submitting an offer. Even though we’re seeing signs of a market shift, it is still a strong seller’s market and, if priced right, offers under list price are rare.

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Rising Housing Supply – What It Means

An important factor in today’s national market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see.

Read More

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Hiking a 14er?

With a few final weeks of summer left, why not give yourself a good challenge by hiking an infamous Colorado 14er? Here’s a resource guide on how to safely prepare and hike at elevation.

Read More