Colorado Ranks High for Job Seekers

If you feel like you live in a great state for your career, it’s official: you are absolutely correct. Among all 50 states, Colorado is the second best state for finding a job, according to analysis by WalletHub.

The only state where job seekers fare better is Washington, with a total WalletHub score of 71.45 compared to Colorado’s 70.04.

But in “Job Market Rank,” Colorado pulled the top position at No. 1, followed by Utah, Maryland and Minnesota. Washington came in at No. 7.

Total score of most attractive states for employment was determined by WalletHub’s comparison of 50 states across 29 key indicators of job-market strength, opportunity and a healthy economy. The two key dimensions were Job Market and Economic Environment. Job Market was weighted more heavily since the factors in that category most heavily influence a job seeker’s decision in terms of relocation for employment.

Here’s how Colorado ranked in key categories.

In ‘Economic Rank’ Colorado is No. 19. Economic Rank evaluates the economic environment based on indicators such as median annual income (adjusted by the cost of living), monthly average starting salary, share of workers living under poverty line, average length of work week, average commute time and commuter-friendly jobs.

At the city level, Aurora led Colorado as the top place to find a job, ranking No. 33 in the U.S. Denver followed at No. 35 and Colorado Springs No. 68. The top cities in ‘Job Market Rank’ are Peoria, AZ; San Francisco, CA; Chandler, AZ; Gilbert, AZ; and Scottsdale, AZ, ranking 1-5 respectively.

In April, Colorado’s state unemployment rate fell by a tenth of a point to 2.9 percent and Colorado employers added 7,200 non-farm jobs to their payrolls, according to a monthly update from the Colorado Department of Labor and Employment. Nationally, the unemployment rate in April stood at 3.9 percent.

Average hourly earnings rose from $27.73 an hour to $28.91 over the past year. The average workweek remains unchanged at 33.7 percent.

For the full listing of statistics on the states, visit https://wallethub.com/edu/states-with-the-best-economies/21697/. For cities, visit https://wallethub.com/edu/best-cities-for-jobs/2173/.

Originally Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, July 20th, 2018 at 10:09am.
Posted on August 8, 2018 at 7:08 pm
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What Not to Do Once Your Mortgage Is Approved

The real estate market in Boulder County is red hot, which makes maintaining your mortgage approval a must if you’re shopping for a home.

“It can be a lot of work to get your mortgage approved. Once it is approved, it is important not to make any major financial changes until you sign your final disclosure and the loan is closed,” says Jessica Shanahan, loan officer with Premier Lending.

To keep your mortgage approval, you need to know the financial moves not to make.

Your mortgage approval is primarily based on documenting your income and assets, your equity stake or down payment, your credit history and the cash you’ll have left over after the deal is done, according to Tuttle’s Real Estate Update.

After your mortgage is approved, don’t change any one of those qualifiers without first consulting your loan officer or you could lose your mortgage.

Here’s Real Estate Update’s list of what not to do:

Avoid Big Purchases

Don’t buy a new car or another large possession, or change the lease on your current car. It could show up on your credit report or bank statement. The new loan or purchase amount could tilt the debt-to-income ratio the lender used to approve your home loan, and your mortgage could vaporize.

Don’t Get New Credit

Don’t sign up for any new credit cards or other lines of credit, even for a zero interest rate. Resist all of those credit card offers that flow in after you get your mortgage approval.

Don’t Miss a Bill Payment or Pay Late

Pay your bills on time without fail, even if you dispute the charge. If you stop paying a bill, it can end up on your credit report and cause a problem with your mortgage.

Don’t Change Jobs

Now isn’t the time to start a new job or lose the job you have. It is okay to take a second job, as long as you keep the job you have. However, if you should be so fortunate as to get a promotion and raise, your mortgage shouldn’t be jeopardized.

Don’t Spend Your Cash

Don’t use your cash reserves, transfer large sums between bank accounts, or make undocumented transactions in your back account – either deposits or withdrawals. This activity can cause your mortgage approval to be reversed.

Just remember to control items that affect your financial picture, and barring any uncontrollable life events, your mortgage should be fine.

For more information see: https://bit.ly/2JzU2lx

Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, April 13th, 2018 at 12:09pm.

Posted on April 17, 2018 at 5:29 pm
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Top Five Reasons to Sell Your Home Early in 2018

If you’re planning to sell your home this year, timing can make a big difference in your home’s final selling price.

Even though statistics show Boulder County’s real estate market remains among the hottest in the country, Realtor.com reports that your “window of opportunity may be rapidly narrowing.”

“We’ve seen two or three years of what could be considered unsustainable levels of price appreciation,” says Javier Vivas, director of economic research for realtor.com®.

The key word there is “unsustainable.” Changes on the near horizon suggest you should get going and be among the first to sell your home in 2018. Here are the top five reasons:

1. Interest rates remain historically low

While interest rates have already increased from the recent lows, today’s 30-year mortgage rates at just above 4 percent still draw buyers into the market.

But experts predict rates will rise to a less enticing five percent before the end of the year. With rate hikes expected to continue, you should list your home earlier in the year. You will not only sell your home more quickly, if you’re buying another home, you’ll benefit from the lower rates.

2. Inventory is tight and demand high

In the red-hot housing market of Boulder County, buyers far outnumber available homes for sale. Tight inventory is a trend that extends across the nation. And the housing shortage will likely get worse before it gets better: Realtor.com predicts inventory will see a decline of 4 percent year-over-year by March.

Inventory shortages result in quick sales, bidding wars, and pro-seller terms. This can be especially true in areas like Boulder County, where a prolonged shortage has persisted for years.

Cash buyers are also a factor, making up 22 percent of all home sales nationwide in November 2017, according to the National Association of Realtors®.

3. Home prices are still increasing

While home price increases in the Boulder area have moderated recently, prices are still rising. But with interest rates increasing, slowing price appreciation is expected to continue. By listing your home sooner rather than later, you’ll avoid the cooling trend.

4. Buyers are better off financially

“Incomes are growing and people are finding better and more stable jobs,” Vivas says. High consumer confidence, low unemployment, and stock market surges make buyers feel good about their financial outlook.

In fact, the Fed projects an unemployment rate of below 4 percent for the first time since the 1960s, reports Realtor.com.

All of this fuels home sales, which grew 5.6 percent nationally in November 2017, reaching its strongest pace in nearly 11 years.

5. Millennials want to buy

More and more millennials are entering their 30s, a time in which taking the homeownership plunge becomes increasingly desirable. Realtor.com data suggest that this demographic group could account for 43 percent of home buyers taking out a mortgage in 2018, equating a 3 percent year-over-year increase.

In a complex real estate market, local real estate knowledge helps you time the sale of your home to your best advantage. So, if you’re considering selling, consult with a Realtor soon.

You can read more at https://www.realtor.com/advice/sell/reasons-to-sell-your-home-in-2018/

 

Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, January 26th, 2018 at 11:15am.
Posted on January 30, 2018 at 8:45 pm
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