Category Archives: Real Estate News
“One small positive thought in the morning can change your whole day.”
Viewing Homes During Safer-at-Home
As the final counties in Colorado move into a Safer-at-Home status on Saturday, buyers will once again have the opportunity to see a home in person before writing a contract, regardless of where the home is located. Sellers will be able to market their home with professional photos and other services. With the interest of everyone’s safety in mind, showings will adhere to new rules and regulations. Please keep in mind everyone’s situation is different and, although these are the general guidelines, some sellers or buyers may still prefer to operate on a “virtual only” basis.
April is historically one of the busiest months of the year for real estate, but nationwide new listings actually fell over 44% year-over-year. Over the course of the last week ending May 6th, new listing activity in Boulder and Broomfield counties was down only about 21% compared to the same week in 2019. This is an improvement over prior weeks when new listings were down as much as 72%. See full update
Create a Calming Space
Over the past few weeks, our homes have become our whole world. Sometimes that world can be intense, and we need a calm, soothing retreat to recharge and refocus. Here are some ideas to rework or refresh your space. See ideas
“Stay positive no matter what. Life never gives us more than we can handle, and you are more than up to the task of facing every challenge. All these things will strengthen your spirit and help you out as you make your way into new adventures and stand up to adversities. There is nothing you can’t overcome with a little bit of courage.” – Ashley Rice
New This Week
An updated Public Health Order 20-24 issued in conjunction with the Stay at Home order (Executive Order D 2020 017) has deemed in-person showings for real estate no longer a critical business/service. Closings can still occur, following social distancing requirements. Virtual showings are also permissible. Talk with me about the latest guidelines if your need to buy is urgent.
The real estate market in our corner of Colorado is still strong but responding proportionally given the stay at home orders and newly announced restrictions on real estate practices in the State of Colorado. Most experts predict that the majority of US real estate markets will see a drop in activity and transaction volume to around 50% of “normal”. See full update
Unemployment & The Housing Market
Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. How do experts feel this will affect the housing market? See full article
Easter Activities for the Home
Easter might look a little different this year, but that doesn’t mean you can’t have just as much fun celebrating this holiday! We’ve curated a great list of activities that your kids will love without having to leave your house. Read More
Best Fitness Resources
Gyms and fitness classes are closed, but there are plenty of options for staying fit at home. Here is a curated list of the top fitness blogs, websites, apps, free online classes, and equipment to help keep you active and sane during the quarantine. See full list
Community Food Share Corporate Challenge
Will you join us and help us win the corporate challenge? Learn more here!
These are scary times. Many of my current clients have asked if I think there will be a slump in housing like the housing bubble in 2008. While I can’t read the future, I do have my own opinion. I think the attached article with graphs and charts helps explain the current housing situation very well. Please read the article. If you have questions about your real estate please don’t hesitate to contact me.
5 Simple Graphs Proving This Is NOT Like the Last Time
Source: Keeping Current Matters
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008. The feeling is understandable. Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:
“With people having PTSD from the last time, they’re still afraid of buying at the wrong time.”
There are many reasons, however, indicating this real estate market is nothing like 2008. Here are five visuals to show the dramatic differences…Read More
I recently attended the ribbon cutting ceremony for the Micah Project. The Micah Project will provide permanent housing for disabled, veterans and low income individuals. The Micah Project is part of The Inn Between. The Inn Between is one of my favorite local organizations as it helps local residents with a hand up through transitional housing and other assistance programs. The Micah Project is amazing in that a number of local churches, organizations and individuals have come together to make a difference in our community to provide permanent housing for up to 14 people in need. It is inspirational to see how our community has come together for this project. I am so grateful to live in a community where there are such wonderful people donating time, funds, and skills to help one another.
If you’d like to know more about The Inn Between and/or the Micah Project, please visit their website at www.theinnbetween.org. If you’d like to donate, in any way, please do so.
We all know the local real estate market has appreciated A LOT over the last 2-3 years. Home appreciation goes a long ways to increasing our equity in the home. Another way to increase equity is to pay down the mortgage. In the past, during the economic downturn, millions were plagued with homes that were not worth what they paid for them. My husband and I were one of those with a rental property in Arizona. The rent did not cover the mortgage, even with a substantial down payment. That negative cash flow each month is not what we intended with an investment property. So, I said, “Let’s sell it”. Wrong. The home’s market value was $60,000 less than we had paid for it. So, we had to find a way to cover this difference between the mortgage and the rent received each month until the home either appreciated enough and we could sell it, or we could raise the rent enough to cover the mortgage. I know many people found themselves in the same situation with investment properties and primary residences. Fortunately for us, the home has now appreciated to much more than we paid for it. And, we were in a position to be able to handle the negative cash flow at the time.
It’s good news (see below) that this trend has begun to correct itself. Of course, in areas of economic growth, this is more likely to be the case.
I’m happy to say, living in Boulder County, that our primary residence has appreciated quite a bit. However, I’m also happy to say, we just paid off the mortgage!! Yeah! This feels like true financial freedom. The extra cash flow each month will be used wisely to expand our retirement portfolio. Paying off a home is a huge milestone for all homeowners.
Call me if you are interested in the market value of your home.
More Properties Are Equity-Rich Than Ever Before
The number of American properties that are equity-rich has reached an-all time high of 14.5 million, or according to new third quarter 2018 data from property data tracking firm Attom Data Solutions.
An equity-rich property is defined as one where the combined estimated amount of loans secured is 50 percent or less of the property’s market worth…Read More
Hmmm, no garage? I see so many folks who do have a garage and don’t put their car inside as they have other toys and stuff stored there. I know we can expect a lot of changes in transportation options now and in the near future. But, I still like my garage, even if it isn’t for my car. What do you think?
The technology to power driverless vehicles is already here, and greater tests of autonomous vehicles are already hitting the roadways. And as autonomous vehicles are spread around and the popularity of car-share programs rise, housing analysts are already calling on the death of the garage in residential homes…Read More
I thought you might enjoy a variety of articles for this post, so check out the links below.
Isn’t fall the greatest time of year in Colorado? Whether you’re outside taking in the sights or…Read More
We are excited to announce that WK Real Estate has been awarded “Best Real Estate Company” and…Read More
Today’s housing market is vastly different than the bubble market of 12 years ago. Here are four key differences…Read More
If you’re selling your home, here are some ways to make a great first impression…Read More