by Neil Kearney | Jul 22, 2011 | Featured, For Sellers, General Real Estate Advice, Real Estate 101
In order to sell a house in today’s real estate market a house must make a compelling case to the market. Some things like neighborhood and location within the neighborhood you can’t control. But set those aside and you are left with two key variables that are controllable and important to the sale.
What I’d like to talk about today is being competitive in the market. The main variables a seller has control over is the price they ask for their home and condition and/or upgrades of the home. I have represented these two variables on an axis below so that I show you what I’m thinking. Basically, if your home is in great condition (and I mean exceptional) you can ask a high price compared to similar homes on the market. If your home is in poor shape you have to ask a lower price. This is not rocket science but it gets trickier when a house is somewhere between the extremes. It is in okay condition and has a middle of the road price. Looking at the chart below you can see the line running at 45 degrees. Think of this as the success line. Every house that fits above the line (price vs. condition) will most likely end up in a successful sale. Every home below the line will wallow until the price or the condition changes enough to get it above the line.
Right now the market is fairly slow. There are fewer buyers out there. This means that competition for sellers is tough. In order to be compelling to the small pool of buyers they have to bring a more compelling product to the market. This means that the line has shifted, sellers have to either improve their home to sell it for the same price or reduce their price to make it work.
Knowing where you are is the tricky part. I help my clients by giving good feedback and keeping them abreast of the market as it changes. The information you used to list your house is no longer valid. Get it priced right and have your house show the best it can. If you can’t afford to make improvements up front, lower your price. It’s simple economics.
by Neil Kearney | Jul 20, 2011 | Listings
1618 Stanley Drive – $285,000
www.1618Stanley.com
This is a great home in quiet Erie neighborhood. Popular open floorplan with hardwood floors on the main level and three bedrooms plus a loft upstairs. Great yard with mature landscaping and large deck. Central air and room for expansion in the basement. Within a short walk to new elementary school! Close to Erie Recreation Center and many parks and paths. A great place to be. Well priced and maintained.
by Neil Kearney | Jul 11, 2011 | Colorado Lifestyle
One of the great things about living in Colorado is the excellent golf courses available to the public. We are blessed with good weather and most years golf can be played year around. January golf is not for the fair weathered golfer but I’m just saying that it is possible. Here is a list of the golf courses in Boulder County. See you on the links!
Public Courses:
COAL CREEK GOLF COURSE
585 W. Dillon Road, Louisville, 303-666-7888 website $35 – $43
Eighteen-hole, 7,028-yard championship course with driving range and putting and chipping greens.
FLATIRONS GOLF COURSE
5706 Arapahoe Road, 303-442-7851 website $34
Eighteen-hole, 6,782-yard course with driving range, color-coded distance system, target greens and putting and chipping greens.
HAYSTACK MOUNTAIN GOLF COURSE
5877 Niwot Road, 303-530-1400 website $26 – $30
Nine-hole, 2,153-yard walking course including lighted driving range with grass tee and putting and chipping greens. Family friendly.
INDIAN PEAKS GOLF COURSE
2300 Indian Peaks Trail, Lafayette, 303-666-4706 website $40- $47
Eighteen-hole, 7,083-yard championship Hale Irwin signature course with driving range and putting and chipping greens. www.indianpeaksgolf.com
SUNSET MUNICIPAL GOLF COURSE
1900 Longs Peak Ave., Longmont, 303-651-8466 website
Nine-hole, 2,876-yard course with putting and chipping greens.
TWIN PEAKS MUNICIPAL GOLF COURSE
1200 Cornell Drive, Longmont, 303-651-8401 website
Eighteen-hole, 6,810-yard course with grass driving range and putting and chipping greens.
UTE CREEK AT SPRING VALLEY GOLF COURSE
2000 Ute Creek Drive, Longmont, 303-774-4342 website
Eighteen-hole, 7,200-yard championship Robert Trent Jones II course with driving range and putting and chipping greens.
Private Courses:
BOULDER COUNTRY CLUB
7350 Clubhouse Road Boulder, 303-530-2226 website
Eighteen-hole, 7,002-yard championship course with all facilites expected at a nice private country club. This course has plenty of trees that can alter your shots. The greens are fast, undulating, and well maintained. An excellent view of the mountains can be seen in the backdrop, plus water hazards (two streams and four lakes) come into play on a number of the holes.
LAKE VALLEY GOLF CLUB
4400 Lake Valley Drive, Niwot 303-444-2114 website
Eighteen-hole, 6,725-yard championship course. Rural feeling, more wide open than many other front range courses. Nice golf only facility.
by Neil Kearney | Jul 7, 2011 | Boulder County Housing Trends, Statistics
It really feels like we are making some progress in the market lately. During many years, we have already peaked by July
1st and have already started experiencing the summer stall. This year it has a different feel to it. Buyer’s are out in force and we are still selling at brisk pace. At the end of June 20% of the active listings were under contract. This is a good pace for this time of year. Last year at the end of June 14% of listings were under contract.
For the year, sales are still down 16% but we are making gains and eating into an early deficit caused by the tax credit of 2010. Last month we were 20% behind last year. I expect that we will make even better gains during July since last July was one of the worst summer closing months I can remember.
Here are the keys I see for the market going forward:
- No dramatic interest rate increases. I think everyone expects rates to gradually rise but too much at one time will shock the market. Buyers are still looking for deals.
- The economy seems to be moving in the right direction. We are getting many new residents to the area and the unemployment rates and vacancy rates are very low. This bodes well for the future. As long as we don’t have a huge change in status on a national level I expect to see continued improvement.
- Improvements in short sale processing and credit underwriting. I guess this is more of a wish than a prediction.
To view the latest statistics in graphic form view the slides below. View in full screen for best results.
by Neil Kearney | Jul 2, 2011 | Uncategorized
Happy 4th of July weekend! Here is a list of the fireworks shows in Boulder County.
Boulder – Fireworks spectacular at Folsom Field at the University of Colorado with Ralphie’s Independence Day Blast. Fireworks, choreographed to live music, begin at 9:30 p.m. Gates open at 8 p.m. and program begins at 8:30 p.m. Admission to the fireworks display is free. For more information about parking and shuttle buses, go to Boulder4thofJuly.com.
Broomfield – Great American Picnic and Fireworks Extravaganza will be held at Broomfield County Commons, located at 132nd and Sheridan on July 4. We start our celebration at 6:30 p.m. with children’s entertainment and carnival games. At 7 p.m. enjoy a free concert. Bring your picnic dinner or enjoy a hot dog grilled to perfection for a minimal cost at the park. After the concert, at dusk, the fireworks display begins, approximately 9:15 p.m. at the Broomfield Commons. For additional information, call (303)-464-5530 or visit broomfield.org/events.
Erie – Fireworks wil be shot off at Denver Colorado National Golf Club on SUNDAY, July 3. It is FREE. Make sure to be a part of Colorado National’s annual July 3rd Extravaganza! Many vendors will be here for you to enjoy, and do not forget about the largest fireworks display on the Front Range. The fireworks are shot from the golf course and the driving range becomes the sitting area. For more information about the Independence Day Spectacular call 303-665-2732 or visit Colorado National Golf Club (formerly Vista Ridge).
Lafayette – This wonderful July 4th celebration is free to the public and will take place from 4 pm – 10pm at Waneka Lake; 1600 Caria Dr. in Lafayette. The celebration will include free kid’s activities, live entertainment, food concessions, lawn games and fireworks at dusk. Dance to the music of The Modniks, Rock Music of the 60’s inspired by the British Invasion and California Sounds in the style and energy of the era. Performance will take place from 5 pm-9pm. Donations are being accepted for the fireworks show, contributions are trickling in but we have a long way to go. There are many ways that you can donate. Visit LafayetteColorado.com or call at 303-666-9555.
Longmont – Celebrate the 4th of July with the wonderful music of the Longmont Symphony Orchestra at Thompson Park at noon. Public display of fireworks at Boulder County Fairgrounds, 9595 Nelson Road, at Hover and Boston will take place at 9:30 p.m. Call 303-651-8437 or go to VisitLongmont.org for more information.
Louisville – Fireworks on July 4 at Coal Creek Golf Course, 545 West Dillon Road. There’s no parking at the golf course. Free shuttle from Louisville Recreation Center and Home Depot. Call 303-335-4536 or go to http://www.ci.louisville.co.us for more information.
For a list of fireworks shows throughout the State of Colorado click here.
