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.

Posted on February 11, 2019 at 3:00 pm
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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.

Posted on February 7, 2019 at 3:00 pm
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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.

Posted on January 18, 2019 at 9:09 pm
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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.

Posted on January 10, 2019 at 11:51 pm
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November Sales Head in Opposite Directions

A tale of two markets emerged in November, as Boulder County’s single-family home sales skidded to a stop, while townhomes and condos took a significant leap forward.

Single-family home sales in the Boulder-area markets dropped 14.4 percent in November compared to October —310 vs. 362 homes—while condominium and townhome sales rose 14.5 percent—126 units vs. 110.

Yet when data for 2018’s first 11 months is considered, the two markets tracked closely together, and both appear to be slowing, according to Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

“This is the first month single-family home sales fell below last year, and condos and townhomes are only slightly ahead,” Hotard explains.

Year-to-date through November, sales of single-family homes decreased 1.4 percent compared to the prior year with 4,205 homes sold vs. 4,266. Attached home sales over the same period improved 3.3 percent – 1,445 vs. 1,399 units sold.

Inventory decreased in both housing categories, though more significantly for single-family homes, which dropped 13.1 percent in November compared to October with 821 vs. 945 Boulder County homes for sale. Condo/townhome inventory fell 6.1 percent in November compared to the previous month with 263 units for sale vs. 280.

“My guess is the growth of the townhome/condo market is due to a larger inventory and more affordable pricing,” says Hotard. “Interest rates are making people jumpy, but the reality is that mortgage rates are still historically low. The more complete view is the inventory and pricing dynamics of the Boulder-area markets.”

He notes that single-family home sales could recover in December, but it’s not likely.

“We have the ongoing headwinds of low inventory and rising prices. When we look back, we’ll see 2018 as market slowdown for housing in our market areas,” Hotard predicts.

Despite the slow-down in housing, Colorado’s economy continues to show strength, wage growth is increasing, and gross domestic product is up, according to recent news reports.

“What the Boulder-area needs is more housing that is desirable and more affordable for people,” adds Hotard.

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Thursday, January 3rd, 2019 at 10:13am.

Posted on January 3, 2019 at 11:13 pm
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Gifts and Volunteer Elves Bring Magic to Boulder County Families

More than 650 Boulder County families with children who might have been overlooked can feel cheer this holiday season, thanks to the power of giving Share-A-Gift makes possible.

Now in its 47th holiday season, each year Share-A-Gift helps connect community donations with hundreds of families, representing approximately 1,500 girls and boys from birth to age 14 years. The donations are collected with the help of businesses, citizens, and volunteers who give toys, money, and time to bring holiday magic to every family who lives in the Boulder County School District. Gifts include new and gently used bikes, toys, books, and clothing.

RE/MAX of Boulder is one of the businesses, which has proudly supported Share-A-Gift for more than 20 years. The Realtors at RE/MAX of Boulder encourage staff, clients, and friends to drop-off donated presents to the lobby of their main office at 2425 Canyon Boulevard. Many of the presents are donated from RE/MAX of Boulder’s Patrick Dolan Team and his clients.

RE/MAX of Boulder volunteers help gather the generously donated toys and take them to the Share-A-Gift Toy Shoppe. They work alongside the army of Toy Shoppe volunteers to ensure each family finds appropriate gifts for their children.

RE/MAX of Boulder Realtors including Patrick Dolan and his team have been gathering gifts from clients, friends, and staff to donate to Share-A-Gift. This incredible nonprofit brings holiday magic to Boulder County families in need. RE/MAX of Boulder and Patrick Dolan have been supporters for 20+ years.

This year, RE/MAX of Boulder volunteers included Managing Broker and Share-A-Gift Board Member Todd Gullette, and Realtors Patrick Dolan, Lisa Wade, and Timmy Duggan.

 

“For those less fortunate, this can be the hardest time of year,” Managing Broker Todd Gullette says.

With years of Share-A-Gift volunteering in his background, he knows the meaningful value the program brings to the community.

“Share-a-Gift does an amazing job of empowering parents and relieving some of the stress the holidays can bring. We would love to thank the hundreds of you who come out each year to help us create such a loving and caring event,” adds Gullette.

The hundreds of “Santa Helpers” who come together to create and share in the joy of giving include community members from all walks of life, the city of Boulder police department, schools, clubs, and organizations.

Volunteers work where help is needed, sometimes applying their special skills to make a difference. RE/MAX of Boulder Realtor Timmy Duggan – a former pro-bike racer and Olympic cyclist – found good use for his bike knowledge in the Share-A-Gift bike repair shop, getting bikes tuned up and ready to ride.

The volunteer elf work performed by community members adds up to thousands of hours, which any community would be proud of. Most importantly, sharing of time and resources gives families and children in need a chance to feel the magic of the season.

For more information visit shareagift.org.

Volunteers like REMAX of Boulder Realtor Timmy Duggan tunes up bikes of all sizes ready to ride at Share-A-Gift’s bike repair shop.

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Wednesday, December 19th, 2018 at 1:24pm.

Posted on December 21, 2018 at 11:01 pm
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Leeds MBA Program Jumps 13 Points in Bloomberg Businessweek Rankings

University of Colorado Boulder Leeds School of Business ranked No. 67 for its full-time MBA program, according to Bloomberg Businessweek’s 2018 rankings. The ranking is 13 points ahead of last year’s 80th placement.

When ranked only among public universities, Leeds rose to No. 29.

In the entrepreneurship category, the school ranked No. 10 overall, reflecting its Boulder and Front Range location’s access to a vibrant entrepreneurial business community with many venture capital and startup opportunities. Along with the Deming Center for Entrepreneurship, students have a strong network of connections and resources that enables them to excel.

Leeds attributes the significant rise in Bloomberg’s ranking to recent program enhancements, increased engagement and partnerships with the business community, and new faculty hires. Over the last two years, the school added faculty from noted universities including Berkeley, Northwestern, Wharton, London Business School, and Harvard.

Recently, Leeds partnered with more than 70 key business leaders and influencers, locally and globally, to understand essential skills and attributes students will need in the 21st century workplace.

“We are very proud of this momentum,” said Dean Sharon Matusik, “But we consider it just the beginning.” Matusik credits the teaching and research ability of a world-class faculty for Leeds success. “The classroom learning combined with access to our business community—which is known around the world for being entrepreneurial, innovative and with an orientation toward creating both economic and social value—provides a distinctive educational experience that prepares our graduates to positively transform the future of business.”

This year Bloomberg modernized the ranking methodology for business schools to assess MBA program value from the perspective of graduating students, recent alumni, and recruiting companies. Assessments are organized into four categories based on importance to respondents: Compensation, Learning, Networking and Entrepreneurship.

Bloomberg senior editor, Caleb Solomon, says this lets stakeholders decide critical factors for success. Bloomberg used the results and compensation data as building blocks for calculating overall ranking. 

For more about University of Colorado Boulder’s Leeds School of Business, visit https://www.colorado.edu/business/

To see Bloomberg rankings visit http://www.bloomberg.com/features/2015-best-business-schools/

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, December 4th, 2018 at 2:26pm.

Posted on December 8, 2018 at 9:07 pm
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Despite Monthly Swings, Boulder County Home Sales Hold a Strong Course

If there is one constant in Boulder Valley, it’s a strong real estate market. October’s sales statistics show 2018 is on track to finish strong. This is despite that month-to-month, those statistics sometimes show significant fluctuation.

Take September and October 2018. When compared to October, September’s data is like Colorado weather: If you don’t like the statistics one month, wait a month, they are likely to change.

September’s single-family sales dropped 20 percent, then recovered to gain 8.7 percent in October with 362 homes sold vs. September’s 333. Despite the short-term fluctuation, year-to-date sales are holding steady through October, reaching just one unit short of the same volume as last year – 3,880 vs. 3,881.

“It’s hard to characterize our market here in Boulder County. Given all of the factors, it can be difficult to decipher trends as opposed to an event,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

“While the swings add volatility to the market, the market exhibits good health with strong demand, and prices and sales holding steady,” he says, adding that a strong economy and job growth continue to be drivers.

Condo/townhomes in Boulder County saw a month-over-month sales decrease of 5.2 percent, with 110 units sold in October compared to 116 in September. Year-to-date attached dwelling sales rose 4 percent through October – 1,317 vs. 1,266.

October’s inventory for attached dwellings also increased 7.3 percent over September with 280 units available in October compared to 261 the prior month. Single-family home inventory declined 10 percent, with 945 homes available for sale in October compared to 1,050 in September 2018.

Hotard projects November and December sales will be “anybody’s guess depending on the weather. But all things being equal, I don’t expect much change through the end of the year.”

The next big change he expects will be in early 2019. “I think we’ll see a big increase in inventory and sales in February and March. I think people will look at taking the gains we have seen in this market, providing inventory and set the market up for pretty strong increases in the big home selling months.”

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, November 27th, 2018 at 9:40am.

Posted on November 28, 2018 at 5:14 pm
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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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Exterior Renovations Deliver Best ROI

A beautiful new kitchen is often the renovation homeowners dream of. But if getting a high return on investment (ROI) is at the top of your checklist, you may want to consider doing exterior work instead.

Seven out of the ten highest payback projects are exterior renovations, according to Remodeling Magazine Cost vs. Value Report 2018. Except for a minor kitchen remodel, work done on the exterior of the house generated higher returns than did interior renovations.

Here are the five renovations that give the highest return, according to Remodeling Magazine.

Garage door replacement

A new garage door can give your home instant curb appeal. Expect to spend about $3,500 to install a new 16×7-foot windowed garage door with lifetime warranty and new heavy-duty galvanized steel tracks. Average ROI is 98.3 percent nationwide and 96.7 percent in the mountain region.

Remodeling Magazine’s mountain region includes Colorado, New Mexico, Idaho, Nevada, Utah, Arizona, Wyoming and Montana.

Manufactured stone veneer

Stone is a popular siding, particularly in Colorado. Adding stone to your home’s exterior gives it character and gives high payback when you sell. At a cost of $8,221, ROI in the mountain region is 93.8 percent and 97.1 percent nationwide.

Wood deck addition

Speaking of trends, inviting outdoor living areas are hot, so wood deck additions add desirability to your home. Estimated cost is $10,950. Average payback in the mountains is higher than across the nation—84 percent compared to 82.

Minor kitchen remodel

At last, we can talk about redoing the kitchen. Expect to spend $21,198 to replace some of the components in your kitchen such as fronts of existing cabinet boxes and drawers, new hardware, new energy-efficient cooktop/oven range combination and refrigerator, laminate counter tops, and flooring. Average mountain region payback is just under 84 percent, and 81 percent nationwide.

Siding replacement

A $15,072 investment to replace old warped or cracked siding with new can help sell your home. You will get around 65 percent of that back here in Colorado and almost 77 percent nationwide.

Here are the top ten renovations with the highest payback.

For the full report, visit http://www.remodeling.hw.net/cost-vs-value/2018/key-trends-in-the-2018-cost-vs-value-report

 

Originally posted here by Tom Kalinski Founder RE/MAX of Boulder on Wednesday, November 7th, 2018 at 2:02pm.

Posted on November 9, 2018 at 10:26 pm
Jay Kalinski | Category: Articles, RE/MAX of Boulder | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,