by neil kearney | Aug 13, 2025 | Boulder County Housing Trends |
I mentioned a week or two ago the Mortgage Guaranty Insurance Corporation (MGIC). MGIC is a company that provides mortgage insurance in case of borrower default. It is their business
to know the risks in the nations real estate markets. On their website they have a detailed analysis of the 72 largest metropolitan areas. Today, I’m going to compare three market areas Denver, Detroit and Seattle. Denver is rated as a stable market with no change on the horizon, Detroit is rated as a soft market with weakening in the future and Seattle is rated a strong market with no change in the near future.
I will go through the main areas of the report in order:
Income Trend
- Denver – Personal income growth up 7%; Wage and Salary Growth up 8%.
- Detroit – Personal income growth up 3.75%; Wage and Salary Growth up 3%.
- Seattle – Personal income growth up 9.8%; Wage and Salary Growth up 10.25%.
Employment
- Denver – Unemployment Rate 4.7%, Employment Growth Rate 5.7%.
- Detroit – Unemployement Rate 8.75%; Employment Growth Rate -1.25%.
- Seattle – Unemployement Rate 4%; Employment Growth Rate 6.8%.
Housing Affordibility – A measure of how incomes, median price and mortgage rates interact. The lower the number the more affordable the market is to the most people.
- Denver – 123 and trending down (good).
- Detroit – 205 and trending up (poor).
- Seattle – 78 and trending down (good).
Home Appreciation as measured by OFHEO
- Denver – 2.8% per year and declining – median price of $249,167
- Detroit – -1% and declining – median price of $105,940
- Seattle – 17.5% and stabilizing – median price of $398,244
Single Family Permits vs. Household Growth a measure of population growth.
- Denver – Household Growth 1.5%, Single Family Permits 14,700 and declining.
- Detroit – Household Growth -.25%, Single Family Permits 2,200 and declining.
- Seattle – Household Growth 1.25%, Single Family Permits 10,500 and stable.
Overall, you can see the factors that go into the health of a real estate market. This can be replicated for any of the 72 largest metropolitan areas and is one good tool to identify possible investment areas. After looking at Detroit and other depressed areas in the Midwest I am grateful for the market we do have in Boulder and Denver Colorado.
by neil kearney | Aug 13, 2025 | For Buyers, For Sellers |
Condition at Closing
or How to Avoid a Mess at Closing
One of the greatest sources of letdown and conflict in a real estate transaction is the condition of the house after the Sellers 
move out. Provisions in the purchase contract allow for the buyer to do a walk through inspection prior to closing. I advise my buyers to do this walkthrough as late as possible so as to see the true condition of the property as it will be left. What to look for in a walkthrough could be its own topic but in summary; we are checking to make sure that the inspection items were completed as agreed upon, the inclusions are still at the house, that there has not been any recent damage to the house and finally to check the cleanliness of the house. The first three items are fairly “cut and dry”, either the refrigerator is in the kitchen or it’s not. I have found that cleanliness is very subjective. What may be very clean to one hurried, harried seller may be “filthy” to the buyer. I try to mitigate this by talking about this subjective divide as we write the agreement and make the language in the contract as plain and literal as possible. Instead of saying carpet cleaning (sellers picture the Bissell in their closet, buyers picture the $500 top of the line pro), I would make it clear that the carpets are to be cleaned by a professional with the receipt provided.
No matter what you try to plan for it is an issue. Sometimes it becomes an outlet for buyer frustration after a particularly tough set of negotiations. Sometimes it is a seller with good intentions but not enough time. Sometimes it is a professional hired who does a less than professional job. All I know is that I have hired cleaners, pitched in with the sellers as we did a last minute shine or have cleaned cupboards and closets myself. Small important details in making the closing day go smoothly and making my clients happy.
So some parting advice:
To Sellers:
- Plan in advance. Closing and moving is a very hectic time and it is not always easy to complete all of those little last minute tasks.
- Bring in help. Hire a cleaning company or better yet family. It is always very hard to go back to the old house to clean while all of your stuff is at the new house.
To Buyers:
- Get it in writing. If you are worried about the condition of the house, set forth your expectations in writing.
- Be realistic. Maybe you have to tidy up a bit when you move in to bring it up to “your” standards. Don’t let it ruin your day.
by neil kearney | Aug 13, 2025 | For Buyers, For Sellers, Real Estate 101 |
-Multiple Offers-
We are working in a buyers market. The average days-to-offer in our market is around 75 days. It is unusual to have houses go under contract right away. You would think that multiple offers and offers over full price would be non-existent; but they happen. 
When there is a large inventory of houses on the market buyers become very good at spotting a good deal. When after looking at 20 homes, buyers see a new listing that they “know” is a good house for a good price, they tend to jump on it. If they are smart they give a good offer and wrap up the negotiations as quickly as possible. Chances are they are not the only buyers looking in that area and price range. What happens if two buyers decide to write an offer on the same house. Here is some advice from the buyer and seller perspective.
From The Buyers Perspective:
- Check to see if you have competition. Your agent will call the listing agent to announce your intention to write an offer. Make sure you know if you are competing with another buyer. At the same time have the agent ask for the sellers preferred closing date and for any items that will be excluded from the offer. All of the information below assumes that there is another offer.
- Make your decisions quickly. Getting your offer in a day ahead may make a big difference. Ask for a quick acceptance deadline.
- Do your homework: Check comparable sales and decide the maximum price you will be willing to pay. Also, think about how you would feel if you would lose this house over a couple of thousand of dollars.
- Do a thorough walk-through: When you see a house you are interested in, take your time. Check on the condition of the house, what would you need to do to make it yours. Are the systems (furnace, roof, windows) in good condition?
- Prepare a clean offer: Don’t ask for Sellers to pay for appraisal, cleaning, HOA transfer fees etc. When the seller is considering two similar offers, $50 can make a big difference and send a signal that the buyers asking for all of the small stuff will be tougher to work with down the road on inspections etc.
- Have your financing in place and make sure to include a letter from a lender along with the offer. I prefer to see a local lender who can jump in and make the closing work in a difficult situation rather than somebody who is working a toll free line.
- A nice touch is to write a personal letter to the seller explaining who you are and why you love their house. The seller has an emotional attachment to the house and wants to sell to someone who will take care of their house.
- Consider an escalation clause. When the house is a good value and you know there is competition one effective method is to write in an escalation clause. This clause in the contract automatically raises the bid price if another offer beats theirs financially. For instance it could read “the offer price shall be automatically raised to a price $1,000 above any other bonefide offer, the purchase price shall not exceed $xxx,xxx”. This is where the buyer has to know how much they are willing to pay; is it full price or $5,000 over?
From The Sellers Perspective:
- If you are attracting more than one offer it shows that you have taken care of your home and priced it correctly.
- You want to make sure that all interested parties have a chance to submit an offer. Have your agent communicate to each agent who has shown the property recently to gauge interest.
- When reviewing offers look at these main points: net price to you after all closing costs, dates and terms and buyers ability to pay and close.
- Try to read between the lines and get a feel for motivation. A buyer who has been transferred and is living in temporary housing is a stronger candidate than an investor who will not be living in the house.
- Try to tie up some of the loose ends now. Use a counterproposal to change dates and terms. You will never again be in a better negotiating position.
- Choose what feels right and be open with your agent .
- Remember, you have a right to choose what offer you accept but you do not have the right to discriminate against a buyer. Choose an offer based upon what is on the paper.
From The Agents Perspective:
- Make sure the communication lines are open. Get a dialog going with the other agents. If all parties feel informed about the process and situation there will be no hard feelings. If a second offer comes in after the first, it is customary to call the first agent and give them a chance to change their offer.
- If you are in an agency position with your client they will lean heavily on an agents advice. Give them good information and let them choose from the possibilities.
Every situation is different but remember the buyers agent is charged with helping the buyer get the house and the sellers agent or listing agent is charged with getting the best price and terms for their client.
by neil kearney | Apr 29, 2015 | Boulder Real Estate |
Boulder Colorado Neighborhood Profile
RED FOX HILLS
Boulder, Colorado 80301
Red Fox Hills is a small neighborhood of 114 homes tucked into a quiet corner of the Gunbarrel area Northeast of Boulder. It is an especially quiet area, away from major streets and rail lines. It is surrounded by open space and many nights the only sounds you hear are those of the neighboring coyotes. The homes were built in the late 1980’s and early 1990’s by the local builder, Hudson Homes. One of the best features of this neighborhood is the proximity to Boulder County Open Space and trails. Many of the homes in the neighborhood back to open space and the trails around The Twin Lakes provide a great place to walk, run or view wildlife. One of the lakes has recently been designated an “off leash” area for dogs. The neighborhood is also known for its community activities such as a yearly progressive dinner and a community garage sale. It is also located near Boulder Country Day School and Mountain Shadows Montessori among others. The community pool is a great place to cool off, have a picnic and to meet neighbors.
Neighborhood Snapshot
- Number of Homes – 114
- Percent Owner Occupied – 95%
- Years Homes were built – 1985 – 1993
- Distance to Pearl Street Mall – 7 miles
|
| Schools
|
Neighborhood Amenities
- Surrounded by Open space
- Quiet Location
- Neighborhood Pool
- Large yards
- Friendly neighborhood activities
- Choice of High Schools
|
by neil kearney | Jan 27, 2011 | For Sellers, General Real Estate Advice |
The end of January is when the real estate market in Boulder Colorado just starts to get moving. New listings are coming on the market full of hope. But what if you have been on the market for awhile? Here are a few tips to make sure you haven’t lost your showing edge.
Here is the typical scenario; During the first few weeks it is common to have many showings because there is a pool of buyers waiting for new listings. Once the initial few weeks have passed that the showings slow considerably and only new buyers to the market set up showings. So what if your house was not priced correctly or did not otherwise compare well with the competition and remains on the market without offers or interest. I have recently shown homes that have been listed for close to a year. What if you own one of these homes and need to get the house sold. Here are some ideas:
- Lower the price – The market has spoken and if your home has not sold in a reasonable time as other homes in the neighborhood get listed and sold, your price is too high.
- Make the house look better – Sometimes you have to spend money to make money. Take an objective look at your house, maybe it needs a paint job, some new counter tops or a replacement for the green shag carpet. I have nothing against green shag, I grew up with green shag. I love it, you love it but buyers DO NOT love it.
- Do some staging – Maybe you have all the pieces, but they are all in the wrong places. A little staging goes a long way in making that all important first impression.
- Make sure your curb appeal is the best on the block – Do some landscaping, buy some flowers, or this time of year make sure the snow is shoveled.
