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Kalinski: How buying and selling a home will change in the Roaring 20s
As we enter a new decade, the massive wave of technological advancements fueled by entrepreneurial tech companies has reshaped consumers’ expectations. Companies such as Uber and Amazon have both dramatically shortened the time that people expect to wait for gratification and raised consumers’ expectations with 
regard to the ease and smoothness of the experience. That is, consumers now expect to press a button and have whatever it is that they want delivered to them in a matter of a couple days (Amazon shipments), hours, or even minutes (Uber rides); moreover, they want to be able to track their shipment’s progress through a simple, pleasing interface on their phones.
While consumers now expect smooth, pleasant and near instant gratification in most aspects of their lives, the real estate home sale process still typically takes 30 to 45 days and — due to its complexity, legal ramifications, and the fact that it is an ongoing negotiation between multiple parties — it is usually neither frictionless nor “fun.” This growing friction between consumers’ expectations and the longer duration and complexity of completing a real estate transaction has made the industry ripe for innovation. What follows are the likely developments that will make real estate transactions faster and easier over the coming decade.
1. The home search-to-closing customer journey. The days of agents-as-gatekeepers of real estate listings are gone. These days, most buyers start their search online and look at up to hundreds of homes to educate themselves. When they get serious, though, about 90 percent of buyers (and sellers) choose to use an agent to help them with the home buying/selling process.
Why is that? It’s because Realtors realized that they needed to change their value proposition to buyers and sellers in order to stay relevant and, well, valuable. One of the challenges for buyers and sellers is that, with the exponential growth of information available on the internet, the amount of “noise” has grown exponentially as well, but the valuable information (the “signal”) has become harder to find. Today’s Realtors have things that are in short supply online: hyperlocal and market knowledge, a network of trusted vendors and professionals, expert negotiation skills, a refined process to make the home buying/selling experience less painful, etc. These skilled Realtors who have adapted to consumers’ shifting expectations provide their clients with better technology, a smoother process, and expert advice. Those agents who fail to adapt will eventually exit the business.
Other innovators, such as so-called iBuyers, will make you an offer, often within a day, to buy your home for cash quickly. This convenience, however, comes at a cost, as many iBuyers will likely cost you two-to-five times more out-of-your-pocket than using a Realtor would.
2. The loan experience. Typically, the longest (and perhaps most annoying) part of a real estate transaction is the loan process. Many lenders can take 30 days or more to complete their due diligence, including their assessment of your loan-worthiness and an appraisal of the home, before approving a home purchase loan. Anyone who has been through this process knows how frustrating and slow it can be.
Fortunately, at least for many people, this process may get a lot shorter and easier. Lenders are using artificial intelligence (AI) to conduct automated appraisals on properties and help with assessing buyer’s applications. For “in the box” situations, with well-qualified “W2 employees” buying homes that the AI algorithms can value with a high degree of confidence, the underwriting process can be dramatically shortened without the need for a physical appraisal. This is already a reality — last fall, we represented buyer clients whose lender did not require an appraisal on the home they were buying and gave them very fast loan approval.
3. The title and closing process. Almost everything can seemingly be accomplished these days online from the comfort of your home. However, at least in Colorado, you still need to physically go to the title company and hand-sign a stack of documents in front of its notary public (how barbaric, right?). Well, this isn’t actually the title company’s fault, as many lenders — and state law — still require physical notarization of certain documents.
The good news is that this may change in 2020, if the Colorado legislature passes a bill similar to Senate Bill 18-109, which would allow optional remote notarization of documents. If such a bill were to become law, then notarizations could be done using audio-video recording of the document signing (kind of like signing over Skype or FaceTime, but with more layers of security). Thus, you would be able to close on the purchase/sale of your home from anywhere in the world, so long as you have a good internet connection.
Conclusion. The players in the real estate industry have (finally) recognized that consumers’ expectations and demands have shifted and are innovating quickly to make the home buying and selling process faster, easier, and more enjoyable (or, at least, less painful). Within the next few years, many people will be able to buy/sell a home in half the time or less than it takes on average today, and with a lot less disruption to their lives.
Originally posted by Jay Kalinski is broker/owner of Re/Max of Boulder.
The end may be here (but don’t panic)
At this time last year, our market was experiencing all-time highs for average home prices and all-time lows for housing inventory. Many of the market indicators we track were pointing to continued strong demand and price appreciation, especially with the continued influx of people into Boulder and Broomfield counties. And yet, with home price appreciation outstripping wage gains for the better part of a decade, in the back of everyone’s minds was the question: “How long can this go on?” We may now be starting to get our answer.
The big picture
In 2018 last summer, the Federal Housing Finance Agency measured the average appreciation nationally at 6.89 percent which slowed this year to 5.05 percent. Then, FHFA ranked Colorado as having the fourth-highest one-year appreciation in the country, at 10.63 percent. Boulder County ranked 68th among metropolitan areas in the country with 8.25 percent appreciation. This year, Colorado has dropped to 28th, with 4.78 percent appreciation, while Boulder fell to number 91 with 6.14 percent appreciation So, Colorado and Boulder County are cooling compared to the rest of the country, but, as a bright spot, Boulder County’s appreciation since 1991 still leads the entire nation at 417.28 percent.
There are 10 statistics we track to gauge the state of the residential real estate market, and studying the movement of these indicators can give you a good sense of the direction of the market. For most of this decade, those indicators have generally pointed toward a rising market, marked by tight inventory, brisk appreciation, quick sales, and low months of inventory (the time it would take to sell all existing homes if no new homes entered the market). At the close of the second quarter of 2019, we are seeing a strong shift for both the single-family homes and attached dwellings (see charts).
As you can see, nearly every indicator we track is pointing to a softening, shifting market, aside from interest rates. And while Months of Inventory still indicates a seller’s market, the trajectory is moving toward a balanced market (between five and seven months of inventory).
And now for the good news
If you are an aspiring buyer in Boulder County, your timing is excellent: inventory is up, so you have more homes to choose from; prices are flat or falling, so you may be able to get a (relative) bargain; and interest rates have dropped once again, so you can get more house for the money.
If you are a homeowner or thinking of selling, the news is not all bad: you’ve rode an impressive wave of appreciation for the better part of a decade; and even when Boulder’s market stalls, it typically does not lose much value (even in the great recession, home prices only dropped about 5 percent).
Remember, don’t panic. Boulder is still the best place in the country to invest in real estate.
Originally posted by Jay Kalinski is broker/owner of Re/Max of Boulder.
Where have all the buyers gone?
A well-functioning market consists of two sides: suppliers who offer a particular good for sale and consumers who purchase those goods. In the Boulder Valley residential real estate market since 2012, there have been more consumers looking to buy homes than there were sellers offering homes for sale, which has led to a long appreciation period for homes. Now, however, it appears that the number of buyers is dropping as is their willingness to pay ever-increasing prices.
Spotting the trend
First, how do we know that there are fewer buyers in the market? The most direct measure of buyer activity that my company tracks (courtesy of Broker Associate Mike Malec) is the number of showings per available listing. From examining the data, it is fairly easy to see that this year’s showing activity is markedly below the recent boom years, but is still above the levels present during the recession.
Second, to further substantiate this decline in buyer activity, we can look at more indirect measures, such as average sales prices, available inventory of homes on the market, and average time a home will be on the market before sale. Each of these markers indicates a decline in buyer activity. Through May of this year, the average price of a single-family home in Boulder has fallen 0.6 percent, while the average attached unit has fallen 4 percent, compared to the same timeframe last year. This indicates that there are fewer buyers competing for available homes to the point where home appreciation rates have stalled. At the same time, the amount of homes available on the market has increased nearly 20 percent for single-family homes and almost 50 percent for attached ones, while the average time on the market for single family homes has gone up 5 percent and nearly 20 percent for attached ones. These statistics indicate that those buyers in the market are becoming choosier and are able to take their time making decisions.
Based on the above discussion, it seems that there are fewer buyers in the market and that those who are in the market are more cautious, but why?
Economic Conditions?
It does not appear that our local economic conditions explain the drop in buyer activity. According to the State Demographer’s office, people are continuing to move into Boulder and Broomfield counties, albeit at a slower rate than previous years (though the city of Boulder has seen its population declining in the last two years). And local unemployment levels continue to be historically low.
Economic conditions at the national level are softening, to the point where the Fed is discussing interest rate cuts, so these conditions may play some role. But, interest rates are actually about half a percent lower than they were at this time last year, which would appear to weaken that argument.
Could it be the weather?
Another possible explanation I’ve heard is that our unusually cold and snow winter could have suppressed buyer demand as people were less willing to trudge through the snow to go see houses. While this is plausible, all else being equal, we would have expected to see that pent up demand being released as the weather improves, but we just have not seen that play out in the data yet.
The takeaway
Whatever the cause of the decline in buyer activity may be, local real estate legend Larry Kendall of the Group Inc. Real Estate in Fort Collins always says that buyers are the smartest people in the market, so they may be acting as the proverbial canary in a coal mine, meaning that they could be a leading indicator that our market is shifting from a seller’s market to either a balanced or buyer’s market. If you are a seller, be wary of pricing above the market in these shifting conditions.
Originally posted by Jay Kalinski is broker/owner of Re/Max of Boulder.
RE/MAX Elevate Calls Louisville Home
Why Louisville and why now?
Those are the questions RE/MAX Elevate, the sister franchise of RE/MAX of Boulder, had to answer when deciding whether to put roots down there with its first office. And the answers came easy. Louisville is to many the unofficial “Capital” of East Boulder County. Business booms there, school are great, families love it, and it’s been recognized numerous times in the national media as one of the safest and best places to live in the nation (Money Magazine’s “Best Places to Live” in 2009, 2011, 2013, 2015, and 2017, one of the “20 Safest Places to Live in Colorado” by Elite Personal Finance, and among the “10 Best Towns for Families in the U.S.” by Family Circle Magazine). Louisville is a great little city. In fact, 78 percent of respondents to a citizen survey rated Louisville as an “excellent” place to live.
So it was with much excitement that RE/MAX Elevate planted its flag at 724 Main Street and had its grand opening on May 1. The public was invited to enjoy a ribbon cutting ceremony with Shelley Angell, executive director of the Louisville Chamber of Commerce, live music by Louisville musician Johnny O., wine and sangria tasting with local Decadent Saint winery thanks to Premier Lending LLC, small bites by local Wildcraft Kitchen, desserts from Bittersweet Café & Confections, and flower arrangements donated by Red Door Flowers. RE/MAX Elevate thanks the sponsors and vendors who made it such a special day in Louisville.
It is with much excitement that RE/MAX Elevate planted its flag at 724 Main Street in Louisville and had its grand opening on May 1. (Photo: Jonathan Castner)
RE/MAX Elevate Broker/Owner Jay Kalinski. “It’s an ideal place to live and do business with a great quality of life. We Heart Louisville. That’s the sentiment you’ll see on t-shirts and stickers for RE/MAX Elevate.”
Jay says that for those who want a little more space to live in, along with the beauty and amenities of Boulder County, Louisville is a remarkably attractive choice.
Lest our readers think this is a case of a national “chain” without ties to the community setting up shop in a hot market, a brief history lesson is helpful.
RE/MAX of Boulder was founded 42 years ago in Boulder by Tom Kalinski. At the time it opened for business, it was only the third RE/MAX franchise in the United States. RE/MAX of Boulder has been the No. 1 company in Boulder Valley home sales for more than 30 of its 42 years and the No. 1 single RE/MAX office in the U.S. 8 times. The company has more than 100 award-winning Realtors who are among the best in the nation, averaging more than 15 years of experience. They are seasoned experts with the utmost dedication to clients, going far beyond the extra mile to help them navigate an often challenging market. Jay became Co-Owner of RE/MAX of Boulder in 2012 and helped further expand the company to where it is today, serving as Broker/Owner for several years.
While Jay remains co-owner of RE/MAX of Boulder, he has turned Broker duties back over to Tom, so he can focus on expanding RE/MAX Elevate. Jay is a Boulder native, CU-Boulder alumnus, and Tom’s son. Jay, a lawyer and military veteran, says, “We’re thrilled to introduce RE/MAX Elevate to Louisville, where many of our founding real estate agents – and their families – live, work, and go to school, and where our clients are selling or searching for homes. We are rooted in the community.”
Jay has been a licensed broker for 10 years and a licensed attorney for 14 years having worked at several prominent law firms and serving 4 ½ years on active duty as an Air Force JAG officer. “We are committed to the city of Louisville, East Boulder County, Broomfield, and beyond,” Jay says. “And as a small local veteran-owned business, we are excited to be actively involved in the local entrepreneurial community and with nonprofits and community organizations and to support the vitality and wellbeing of the community.”
Manager Tammy Milano with Broker/Owner Jay Kalinski
Realtors in both offices have donated gift baskets from Louisville businesses for a free drawing, which kicked off during the grand opening party. Drop by any day during business hours in May to enter. Tickets will be drawn and winners announced during the Taste of Louisville on June 1. And to celebrate the opening of the new office, RE/MAX Elevate is sponsoring the Louisville Public Library’s Summer Reading Program. RE/MAX Elevate along with RE/MAX of Boulder are giving back to the community by co-sponsoring the Louisville Downtown Street Faire on Friday nights thoughout the summer.
Jenni Hlawatsch, owner of The Singing Cook, the business next door to RE/MAX Elevate where she continues to be a neighbor, is looking ahead as she welcomes the new office. She says, “While I’ll miss my Book Cellar neighbors, I look forward to the new business relationship with Jay and the RE/MAX Elevate team who are eager to support and get involved in all the goings on in downtown Louisville.”
“We’re delighted to welcome RE/MAX Elevate to downtown Louisville,” says Louisville Mayor Bob Muckle. “Their contributions to the local economy and strong tradition of community involvement will be a win for us all.”
RE/MAX Elevate is a member of the Louisville Chamber of Commerce and the Louisville Downtown Business Association.
RE/MAX Elevate, 724 Main St., Louisville; 303.974.5005; elevatedrealestate.com. Hours are: M-F 10:00 AM – 5:00 PM; Sa/Sun 11:00 AM-4:00 PM
By Darren Thornberry, At Home
Photos by Jonathan Castner and Flatirons Pro Media
Originally Posted by RE/MAX of Boulder
RE/MAX Elevate Opens in Louisville on May 1
Home Sales Slow in December, Show Slight Decline for Year End
Boulder County home sales declined for December, but overall 2018 sales held somewhat steady with a slight decrease.
“December was not a fabulous month for home sales, particularly for attached dwellings,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.
Sales of condominiums and townhomes in the Boulder-area dropped 42.9 percent in December compared to November – 72 units sold vs. 126. For the year, attached dwelling sales improved .02 percent with 1,525 units sold vs. 1,522.
Single-family home sales dropped 2.6 percent with 302 sales vs. 310 for December compared to November. Year-over-year, single-family home sales dropped 2.3 percent – 4,533 sales vs. 4,640.
Hotard points out the total decline for all Boulder County dwellings sold for the year – attached and single-family – was only 1.8 percent. That compares to a 3.1 percent national decline reported by the National Association of Realtors.
“Our Boulder County market continues to perform well. Job growth is good, demand is strong, and the area is desirable,” says Hotard, adding that inventory is an ongoing challenge.
Inventory of single-family homes dropped 24 percent in December compared to November—declining to 624 units from 821, while multi-family unit inventory decreased 22.4 percent—204 units versus 63—over the same period.
So where do we go from here?
Hotard says many reports indicate the U.S. is entering a home sales slump, but he expects the Boulder County markets to continue to buck the national trend.
“It’s possible well see a year-over-year decline similar to this year, but I don’t expect it to be more significant, if our markets decline at all,” he says.
In Hotard’s assessment, strong fundamentals in Boulder County are not waning: Employers continue to bring new jobs and prices are holding or improving.
But inventory continues to take a hit. “We need to see inventory numbers improve as we head into March, April, May and June,” Hotard adds.
“It’s going to be ‘steady as she goes’ in 2019, as long as we don’t have any major national or international events.”
Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Monday, February 11th, 2019 at 1:34pm.
Economic Growth Marches on in Boulder County, but Headwinds Building
Boulder’s economic horizon will keep its rosy glow, though economists anticipate the pace will slow in the face of growing local and national challenges.
Nationally recognized experts presented a mixed economic message to a record-setting crowd of civic, political and business leaders gathered for the 12th annual Boulder Economic Forecast. Organized by the Boulder Chamber and Boulder Economic Council, the event was held January 17 at the Embassy Suites Hotel. RE/MAX of Boulder is among the event’s sponsors.
The goal is to arm community leaders with up-to-date statistics and trends that inform decisions and support local economic vitality, according to John Tayer, CEO and President of the Boulder Chamber.
And community leaders will want to take heed.
Keynote speaker Dr. Richard Wobbekind, Executive Director CU-Boulder Leeds Business Research Division, shared a vision of continued economic growth but more moderate than previous years.
“Overall the picture is pretty positive in the sense that consumption is growing, investment is growing, government spending has been growing, so you have those pieces pushing the economy forward. That continues to fuel growth and employment,” says Wobbekind.
But uphill pressures are mounting.
With national GDP growth slowing to a projected 2.4-2.5 percent for 2019, the national economy is moving to a moderate trend. Wobbekind says the thing on everyone’s mind – “the elephant in the room”—is whether recent stock market volatility and other factors will lead to a significant downturn in the economy.
“Will the Recovery Ever End?” is his presentation title. But Wobbekind says it’s hard to say whether or not the economy will turn towards recession.
National outlook a mixed bag
Nationally, Wobbekind’s data showed a story of good news, bad news.
On the good news side, Wobbekind says nationally incomes are rising due to strong employment accompanied by strong wages. With rising incomes, consumption rates are growing and debt burden as a percentage of income is relatively low. National FHFA home price growth is showing strong price appreciation.
Then there are the tempered aspects of the national economy. He says consumer confidence is still quite high, historically speaking, but it has come down slightly. Businesses are in good shape, but there is uncertainty about interest rates, trade agreements, sales and profit growth and hiring. Nationally, business confidence is falling, but still above neutral.
Wobbekind also presents some straight-up challenges. Corporate and private tax cuts are effectively ending, with the tax cut stimulus leaving a national deficit of over $1 trillion, accumulated during a prolonged period of economic expansion. Workers are in short supply with low unemployment rates and 6.7 million jobs unfilled nationwide. Student loan debt is high and interest rates may see modest increases.
Colorado’s economy sustaining strength, but pressure is rising
Colorado’s economic record has been strong, outperforming the nation in recent years. For example, the state ranked third in the country for pace of GDP growth in 2017. Wobbekind suggests the trend may keep going, though more slowly.
For one, strong employment growth is expected to continue – Colorado has been in the top five states for job creation since 2008. But in 2018, the employment growth was down slightly to two percent. Even so, Colorado has the third highest labor participation in the country.
But worker’s wage growth is not as strong as would be expected given the tight labor market. Wobbekind notes lackluster increase in wages is troubling in the face of the high cost of housing and inflation.
While Colorado’s population keeps growing, the rate is slowing. Net migration will continue to decline as it did last year.
Home price appreciation—notably among the fastest growing in the U.S for the past 10 years—fell from the top three slots but remains in the top 10. Residential building permit activity is still strong.
While businesses are still confident in state and local economies, confidence is dropping when it comes to the national economy.
Boulder County carries on
Boulder County is expected to mostly hold steady. Though the area’s strong rate of growth is expected to decrease next year, the decline will be slight. Key statistics Wobbekind listed are:
Boulder’s GDP growth is 4 percent
Much needed multifamily housing stock is increasing
City of Boulder’s median single family home prices have stabilized somewhat
City of Boulder has a significant jump in office vacancies and more office space is coming online
Boulder County wage growth is 4.7 percent
Broomfield and Denver have higher wages than Boulder
City of Boulder’s sales and use tax dipped last year but is climbing back up
Headwinds ahead
Wobbekind points to headwinds facing Colorado, saying the state should watch out for:
Commodity prices
Drought and weather
Housing affordability
Talent shortage
Real wage increases
PERA funded only at 46 percent
Labor shortage one of state’s biggest challenges
Skillful Colorado’s Executive Director, Shannon Block, dove into to strategies for overcoming the shortage of skilled workers. Employers are struggling to find workers and the cause of the talent shortage is a skills gap. Fueling the problem, says Block, are traditional employment practices narrowly focused on candidates with 4-year college degrees. That focus is making job-landing difficult for the 70 percent of Americans who don’t have a 4-year degree.
Skillful Colorado’s focus is to shift that trend toward hiring practices that value skills-based talent. The goal is to help Coloradans get jobs in a rapidly changing economy, particularly the 60 percent In Colorado with no college degree.
For more information, see Boulder Economic Forecast slide presentations at:
Dr. Rich Wobbekind’s 2019 Boulder Economic Forecast: https://ecs.page.link/YoZU
Shannon Block, Skillful Colorado, Addressing the Skills Gap: https://ecs.page.link/kLGs
Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Thursday, February 7th, 2019 at 1:40pm.
Be mindful of warning signs in housing market
2018 was another strong year for residential real estate in Colorado in general and Boulder Valley in particular, but what’s in store for 2019?
First, a look back at 2018. Nationally, Colorado jumped from 10th to fifth among all states for one-year appreciation, with a 9.16 percent increase in home values. Boulder County improved from 57th in 2017 to 41st in 2018, with over 9.5 percent price appreciation. Below are the 10 “Vital Statistics” for Boulder Valley we track to gauge the health of the real estate market from year to year.
As you can see, most of the indicators point toward an appreciating market, though increasing interest rates and a drop in the percentage of homes under contract indicate potential signs of weakness emerging.
In the city of Boulder, the average price of a single-family home topped $1,215,000, which was up 11 percent from 2017. However, Boulder also saw almost 50 fewer home sales than last year, which highlights our continued shortage of inventory. The most affordable city in Boulder County continues to be Longmont, but even there, the average price of a single-family home is now over $460,000 and may reach $500,000 if its appreciation trend continues.
One statistic that gets very little attention is that we often see home prices dip slightly in the second half of the year as compared to the first. As the chart below shows, we generally see appreciation through June or July, and then values trail off slightly. What this chart means is that, if you’re a seller your best bet is to sell in the spring, and if you’re a buyer, try to buy in the fall when home prices are stagnant or dropping.
2018 was quite strong — will 2019 be similar?
Locally, conditions in our area generally support continued appreciation in residential real estate. The total number of active listings available is still less than half of what it was before the Great Recession, which is likely to keep home prices growing, especially as our economy remains strong (very low unemployment) and we continue to see net migration into our area.
There are, however, several trends that could derail continued growth in our market. First, interest rates are almost a full point higher than they were in 2017, and I’ve discussed before how a one point increase in interest rates can reduce purchasing power by 10 percent. The Fed had indicated its intent to continue to raise rates in 2019, however, the news from the Fed’s most recent meeting in January suggested that they may hold off until at least June.
Second, the potential for a recession in the next year or two could begin dragging on home sales. One indicator is that the yield curve (which compares rates for short-term vs. long-term Treasury notes) has been getting flatter. When the yield curve inverts (that’s when rates for 10-year notes dip below rates for 2-year notes), it is very often followed by a recession.
Finally, local no-growth and anti-growth policies, regulations, and mindsets are making it increasingly difficult to add inventory to our region. The dearth of homes to sell could negatively impact our market — and it is the only factor here that we as citizens have a measure of control over.
2019 has the potential to be another great year for residential real estate in Boulder Valley, but we need to be mindful of the potential derailers mentioned above.
Originally posted on BizWest. Jay Kalinski is broker/owner of Re/Max of Boulder.
Top Places to Raise a Family in Boulder County
If you live in Boulder County, you know that all the ingredients needed to make a great place to raise a family are right here. So it’s no surprise that seven of Colorado’s top 25 places to raise a family in 2018 are in Boulder County, according to analysis by Niche.com.
Niche.com ranked the family friendliness of locations by assessing the quality of public schools, cost of living, crime rate, access to amenities, diversity, housing trends, employment statistics and percentage of households with children, among other characteristics. Data sources include U.S. Census Bureau data, the American Community Survey, FBI crime reports, and local surveys.
Most top 25 Colorado locations are in the Boulder area or the Denver metro area. Here are the Boulder County areas in the top 25 best places to raise a family in 2018:
#1 Pine Brook Hills
Pine Brook Hills is an unincorporated area just west of Boulder with a population of 1,091. According to Niche.com, many retirees live in Pine Brook Hills.
Ranking on Key Attributes
Public Schools A+
Housing A
Good for Families A+
#3 Louisville
The town of Louisville is in southeastern Boulder County. Amenities include 1,700 acres of open space, dozens of great eateries, a thriving arts scene, great schools, wonderful neighborhoods and a diverse mix of employment opportunities for its population of 19,972.
Ranking on Key Attributes
Public Schools A
Housing B+
Good for Families A+
#4 Superior
Located in southeastern Boulder County, the town of Superior has 594 acres of parks, greenspace, and open space and 27 miles of trails for its population of 12,928. Niche.com says many families and young professionals live in Superior.
Ranking on Key Attributes
Public Schools A
Housing B+
Good for Families A+
#8 Gunbarrel
Gunbarrel is a mix of unincorporated county and city of Boulder lands, located just east of Boulder. Gunbarrel’s 9,559 residents enjoy craft breweries, coffee shops, trails and parks. Niche.com says many young professionals live in Gunbarrel.
Ranking on Key Attributes
Public Schools A+
Housing B
Good for Families A+
#10 Boulder
Tucked into the foothills of the Rocky Mountains, the city of Boulder has a population of 105,420. Residents enjoy more than 45,000 acres of open space, 150 miles of trails, and 60 urban parks. The city is home to a thriving tech and natural foods industry and the University of Colorado Boulder. Niche.com says the public schools in Boulder are highly rated.
Ranking on Key Attributes
Public Schools A+
Housing C+
Good for Families A+
#19 Niwot
Niwot is a small town in eastern Boulder County with a population of 4,588. Niwot offers craft breweries, coffee shops and a summer music program.
Ranking on Key Attributes
Public Schools A
Housing C+
Good for Families A
#24 Lafayette
The town of Lafayette is in eastern Boulder County with a population of 27,053 made up largely of families and young professionals. Lafayette has a parks system, greenbelts, bikeways, open space, and an attractive downtown featuring coffee shops and boutiques.
Ranking on Key Attributes
Public Schools A
Housing B+
Good for Families A
For the full list of the top 25 most family-friendly communities in Colorado visit: https://www.niche.com/places-to-live/search/best-places-for-families/s/colorado/
To see average home prices in each Boulder County community, visit our website at boulderco.com and search “Communities.”
Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Thursday, January 17th, 2019 at 11:13am.
4 Key Home Buying Trends to Watch in 2019
As we look ahead to coming trends in 2019 real estate, home buyers and sellers nationwide will face changes in the marketplace, according to the economic research team at realtor.com. From housing inventory to generational shifts, here are four top trends to look for in 2019.
1. Inventory will grow, especially for luxury homes
Inventory has been tight nationwide, hitting its lowest level in recorded history in the winter of 2017, says realtor.com. Supply finally began catching up with demand in 2018. That inventory growth will continue in 2019, but at rate of less than 7 percent. While sellers will have more competition, it will still be a good market.
“More inventory for sellers means it’s not going to be as easy as it has been in past years—it means they will have to think about the competition,” says Danielle Hale, realtor.com chief economist.
“It’s still going to be a very good market for sellers, but if they’ve had their expectations set by listening to stories of how quickly their neighbor’s home sold in 2017 or in 2018, they may have to adjust their expectations,” she adds.
In markets with strong economies and high-paying jobs, most of the expected inventory growth will come from listings of luxury homes.
2. Affording a home will be challenging
Interest rates and home prices are expected to continue to increase. Hale says homebuyers will continue to feel a “pinch” from affordability, as costs will still be a pain point. She predicts mortgage rates will reach around 5.5 percent by the end of 2019, which translates into the typical mortgage payment increasing by about 8 percent. Incomes are growing about 3 percent on average. These factors are hardest on first-time home buyers, who tend to borrow most heavily.
3. Millennials will dominate
Millennials are now the biggest generation of home buyers. Some are first-time home buyers, while others are moving up from starter homes. The millennial group accounts for 45 percent of mortgages compared with baby boomers and Gen Xers at 17 and 37 percent respectively, reports realtor.com. And many millennials still have student debt, which adds to the challenge of affording a home.
4. The new tax law’s effect is still unknown
For many tax filers, the effect of the new tax law won’t be known until their April tax filing results in a bigger tax bill or a bigger refund.
Renters are likely to have lower tax bills, but the new increased standard deduction reduces the appeal of the homeowner’s mortgage-interest deduction. The new tax law may dissuade people from taking out large mortgages which will affect higher cost homes. Add these factors to the challenge of affording a home and homeownership for some may be harder to achieve or less appealing.
The net effect of the coming 2019 trends is that even with these challenges, sellers are in a good position and homeowners will continue to enjoy positive financial gains from their home.
For more information, read the full report at https://www.realtor.com/news/trends/real-estate-trends-expect-2019/
Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Thursday, January 10th, 2019 at 10:05am.
