Real Estate Conference Set to Explore Boulder Valley Challenges and Trends

The eleventh annual Boulder Valley Real Estate Conference offers a packed day Thursday, November 15, exploring trends, commercial impacts, and inventory shortages in Boulder County commercial and residential real estate.

Organized by BizWest with presenting sponsor RE/MAX of Boulder, the event delivers an intensive schedule of national keynote speakers and panels made up of local real estate experts and development officials.

More than 500 real estate professionals and anyone interested in the local real estate market are expected to attend. Attendees get insights into residential and commercial real estate activity and coming opportunities in Boulder and Broomfield counties.

The conference kicks off with local real estate expert Todd Gullette, RE/MAX of Boulder Managing Broker, discussing the latest sales and price statistics and implications for residential real estate across Boulder Valley. The commercial forecast follows, with Angela Topel, Gibbons-White Senior Broker, exploring major commercial developments, sales and vacancy statistics.

Future technology – now turned present – takes center stage when Jay Kalinski, Broker/Owner of RE/MAX of Boulder, moderates a panel of real estate banking and technology experts, exploring “The Impact of Blockchain” on residential real estate. Blockchain technologies enable a shared, nationwide database of houses on the market. The panel will look at how Blockchain platforms affect Boulder County’s housing market and how Realtors should respond.

“Big Tech Settles In” focuses on the local impact of the tech economy and examines the surging Boulder tech scene, including expansions by Google, Twitter, Microsoft and Uber.

Conference keynote address presents the outlook of Wells Fargo’s EVP of Housing Policy and Homeownership Growth Strategies, Brad Blackwell, and MetroStudy’s Senior Director West Region, John Covert.

Next up, “Breaking Ground” – back by popular demand – reveals commercial and residential developments in the Boulder Valley and beyond. A panel of city-employed development directors from Lafayette, Longmont, Louisville, Superior, Boulder, Erie and Broomfield provide a complete rundown of the region’s top projects.

“Wrestling with Supply” tackles the top challenge for Boulder-area residential real estate markets. Lack of housing inventory, issues with infill development, height limits, accessory-dwelling units and zoning conspire to cause a critical housing shortage. Moderated by Duane Duggan, RE/MAX of Boulder Realtor, the panel will discuss policy changes developers believe would address the problem.

“Icons of Real Estate” is back by popular demand. Featuring long-time successful real estate experts Tom Kalinski, Owner/Founder, RE/MAX of Boulder; Stephanie Iannone, Managing Broker, Housing Helpers; and Seth Chernoff, CEO, Chernoff Boulder Properties, audience members will ask questions to learn proven best practices and advice for success in commercial real estate.

The conference will be held from 9:00 am to 4:00 pm on Thursday, Nov. 15 at the Embassy Suites hotel, 2601 Canyon Blvd. in Boulder. Registration opens at 8:15 am. For details and to pre-register visit http://fallrealestateconference.com. Breakfast and lunch are included. The conference is open to anyone with an interest in Boulder Valley real estate. Conference attendees can earn six Van Education credits.

Conference details in this quick video: https://bit.ly/2PAsWQV

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, November 13th, 2018 at 3:40pm.

Posted on November 14, 2018 at 10:33 pm
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What it’s like to be a first-time homebuyer in 2018

“Ever since we moved out here, we’ve been keeping an eye on the market,” Gibson says. “We see new houses go on the market, but that for-sale sign goes down and a for-rent sign takes its place, and so we’re competing with people that have the ability to buy multiple homes just to rent them out.”

The Gibsons live just north of Boulder in the town of Longmont, Colo. The Boulder area is one of the toughest markets for first-time buyers — and the epicenter of a growing housing affordability crisis.

“The country as a whole has been generally appreciating since coming out of the recession in 2011, 2012. Boulder has definitely led the way in a lot of ways,” says RE/MAX of Boulder’s Jay Kalinski, who is also the chair-elect of the Boulder Area Realtor Association. “Since 1991, we’ve appreciated more than anywhere else in the country — I think for over 400% appreciation since then. Our average single-family house in the city of Boulder now is around $1.2 million.” (The average price of a new home in the U.S. is $377,200, as of September, according to the Census.)

Yahoo Finance visited Boulder for HuffPost’s Listen to America town hall series installment on housing affordability and to talk to residents and local officials about the issues facing potential buyers in a market that serves as a snapshot of what’s happening across the country.

When you look at the affordability index, we’re getting less and less affordable as a community,” Kalinski says. “We’re becoming more akin to something like an Aspen or a Silicon Valley, where our home prices just are not going to support people who are making an average or even a good income.”

Watch the full HuffPost Listen to America town hall for To Develop Or Preserve: A Conversation About Affordable Housing In Boulder, CO.

Boulder City Council member Jill Adler Grano, who spoke at the Listen To America town hall, has been concerned with buyers getting priced out of the Boulder market for some time. “Unless you have money from another source or a lot of money saved up — a trust fund something like that — it’s very difficult to save for that down payment,” she says.

But there are steps the city is taking to address the issue. “As a city, we’re working on a pretty aggressive affordable housing program, so we have a goal of having 10% of our housing stock be permanently affordable,” she says. “At first that was all just for people making below area median income, but now we’ve realized that middle class is actually above area median income, so we’ve added another 5% goal for those making even above area median income but still being priced out of our city.”

But that path to homeownership has its own drawbacks, Kalinski says. “On the bright side, it means you can have a home in Boulder, you can live here at a reduced rate,” he says. “The downside is you don’t get the benefits of homeownership. Your growth is capped at 3% a year, and when the rest of the city is growing it’s a 10% to 15%, you’re giving up all of that upside.”

If income-sensitive housing isn’t an option, there are other routes cash-strapped buyers can take, including a trend Kalinski calls “driving until you qualify” that’s popular in the Boulder area. “First-time home buyers can either look a little further out or they can talk to their friends and family about trying to get a bigger down payment together to get into a market-rate home,” Kalinski says.

As for the Gibsons, they’re pressing ahead and trying to maintain a positive outlook. “I walk my dog around a lot and look at for-sale signs, look at ads, just trying to get an idea of what the market is,” Gibson says. “And hope that our hopes aren’t dashed when we get into a bidding war with about 10 other couples that are also trying to buy the same home.”

Follow Ned Ehrbar on Twitter.

Originally posted here on Yahoo Finance.

Posted on November 7, 2018 at 11:34 pm
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