RE NEWS: 'Real Estate Prices Up, but Not For Long'

Inman news, reports that home prices have risen for the fourth straight month in July, according to the latest report from loan data aggregator and analytics firm CoreLogic.  This is good news, but experts have been weighing in that this is only a seasonal spike and come fall, we will see home prices dip once again.

This is nothing new, it is true that home prices tend to fluctuate during the seasons and this year is no different.  On a national average home values and average home sales price have risen significantly this summer compared to last summer, showing signs of market improvement.  Boulder, in particular has seen similar growth in that average home sales prices have gone up this summer over the 2010 summer.  However, the number of homes on the market continue to fall from previous years.  We have seen a trend that since 2006 the number of listings per month have followed the same declining trend year after year.

My thoughts:  I am optimistic and foresee this next spring being a huge turnaround point for the market.  I think that the economy will start turning around, some new government programs will be set up, unemployment will do down, causing people to be less afraid of the market and realized their home values will not magically jump back up to their unrealistic values from 2007.  These are the kinds of things that need to happen to turn the economy around.

read the entire article here


Tell me your thoughts?

Matt Ullrich
303.941.2452
ullrich@boulderco.com

NEWS: 'The Mortgage Fix That Can Save the Economy'

I stumbled on an interesting article today about a new type of loan modification program that has potential to save the economy.  Past loan modifications have only left us worse of and now banks are suing banks and the government is handing out money to corporations and now the people are standing up and fighting back, and with a brilliant sollution at that.

The idea is for a new loan program that instead of the government to lend out millions of dollars to banks, the banks will just reduce the amount of principal on loans.  The statistics are as follows:

"If lenders would reduce all underwater mortgages to their current market value, the nation's banks could pump $71 billion per year into the economy, create more than 1 million jobs annually and save families up to $6,500 per year on mortgage payments, according to The New Bottom Line, a collaborative of 1,000 faith-based and community organizations who want Wall Street held accountable for the mess it created."  -Ann Brenoff, AOLreal estate

The idea behind this is that by reducing people's loan payment, it allows them to spend their money on other things such as groceries, clothes, etc.  This would cause a spike in consumer demand and businesses would be doing better and lead to prosperity and jobs.

Tell me what you think, could this idea help revive the economy?


Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

*for the full article on this issue follow this link

NEWS: 'HUD Extends Deadline for Unemployed Mortgage Assistance'

A program designed to help the unemployed with mortgage payments to recieve interest-free mortgage payments has been extended applications through September 15th.  The program is  part of the HUD's plan to help the unemployed keep up with their mortgage payments.  If applicants mee the critereia of the application the unemployed homeowner will be allowed to pay off their mortgage interest free. 

Colorado is taking part in the service, so if you would like to know how to apply for the program or would like to read the entire article, you can find it here at HousingWire.com


If you have any questions please feel free to email or call


Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

News: 'Home Affordability Remains High'

Home Affordability is near record highs (which is a good thing)  This rating means that American families are buying homes within their means.  The National Association of Home Builders said the affordability of homes sold in the second quarter for 2011 was 72.6%.  The national median income is $64,200.

At a time of high affordability it means prosperity, homeowners are purchasing within their limits and with the historic low interest families are getting great deals on homes and will be well financed to make affordable payments.  Unfortunately, the high level of affordability has not turned into more sales, actually, the national average of home sales dropped 3.5% in July from June sales.


*If you want to read the whole story check it out on RealtyTimes.com



Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

West End Tavern Presents 'Warren Miller Wednesdays'

Tonight is the kickoff party at the West End Tavern.  They are getting ready for ski season by watching vintage Warren Miller movies (every wednesday night at 8:30) and featuring food and drink speacials all night.


They are also giving away door prizes from FlyLow, Patron, Christy Sports, etc.  Start thinking snow and come down the West End Tavern tonight and have some fun.


*find this event online:  Warren Miller Wednesdays


Matt Ullrich
303.941.2452
ullrich@boulderco.com

Boulder Farmers' Market

Its that day of the week again (Wednesday if you weren't sure), come down to 13th street between Arapahoe and Canyon, from 4-8pm.

*The Boulder Farmers' Market is a locally grown farmers market with all the gourmet fixins of veggies, meats, fruits, flowers, chesses, and even wines!  Its a great atmosphere and fun for the entire family.  Support local!


Matt Ullrich
303.941.2452
ullrich@boulderco.com

RE NEWS: 'US housing faces another plaguing issue'

Through all the ups and downs the housing market has been going through, one key issue is holding the market back from growing.  The market IS seeing lots of improvement from a year ago but that is just from housing activity and not the facts.  The activity in the market has been growing over the past year but the facts of the matter is that, nationally, we are not improving when it comes to home appraisals and valuation.  Home appraisals are the staple to the healthy economy and because of the past few years of poor valuation we are seeing the effects today...Here is why:

Before the housing bust, home appraisals were getting out of hand, making higher valuations than the property was worth.  This market characteristic contributed heavily to the housing bust, homes were jumping up 10-16% a year, when on an average year home values are to appreciate between 2-4%.  This spike in home values lead to the crash and the appraised values plummeted and over the past 3 years we have seen large de-valuation of homes where they were highly valued.


The home appraisals of today are the effects of the high appraisals and the low home values of the past 3 years.  What is happening today is that home valuations are turning up lower than the REAL value of the home.  What I mean by REAL value of the home, is that a home may actually be worth $500,000 BUT because of the low appraisals of the past few years, the home that has a REAL value of $500,000 will end up being appraised at a lower value because the appraiser does not have comparable homes to compare it to.  And if the appraiser does have homes to appraise it to, they are at a lower price because of the housing bubble bust and the home values of comparables that have sold recently are at a lower price, therefore, causing the home with the REAL value of $500,000 to be valued below its worth at say $450,000.


Now you may be thinking, ok, its valued at $450,000 but im going to put it on the market for the $500,000 because that the real price it should be appraised at.  The problem here is 99 out of 100 times a buyer will want to see the most recent home appraisal and if the appraisal says the home is worth $450,000 and not $500,000 (as listed) the buyer will not be willing to go above $450,000 on the home and will end up buying a house down the street and leaving yours on the market for a long long time.


This is a very interesting subject to keep track of, because until home appraisers can figure out a better system to appraise homes, we may be stuck in this downward appraisal turmoil for a long time.  The appraisal system has the power to turn the housing market around and bring things back to normal.
    *for a similar story please follow this link:  U.S. housing faces extra drag- low appraisals


I'd love to hear some comments on home owners/ home buyers/ home sellers, and what you think about all of this.

Matt Ullrich
303.941.2452.cell
ullrich@boulderco.com
RE/MAX of Boulder, INC

'Boulder Firms Top Best Work Places List'

The past week Outside Magazine ranked Boulder, Colorado the best place to work in the U.S.  This was only the fourth year for the poll but it is slowly picking up.  Out of the 100-150 companies that have taken place in the poll, this years list was the most competitive.  The ranking are as follows:

"Boulder-based Natural Habitat Adventures, a travel operator, is No. 1 on the list. Boulder-based Environmental Management & Planning Solutions Inc., an environmental consulting firm is No. 2, and Boulder-based Sterling-Rice Group, an advertising and communications firm, is No. 3."bcbr.com

For the entire article from BCBR.com follow this link.


Matt Ullrich
303.941.2452.cell
303.4154.2251.office
RE/MAX of Boulder, INC

Real Estate News: ‘Market Turmoil Leads to Even Lower Mortgage Rates’

A very poor start for the stock market this morning, dropping 400 points already has caused mortgage rates to hit the 50 year low!  A 30-year fixed loan has dropped from 4.32% to 4.15%, while the average 15-year rate fell from 3.5% to 3.36%.

Now is an excellent time to re-finance if you have been thinking about it.  It would be hard to believe that rates could fall any lower.  If you have been thinking about refinancing, feel free to leave a comment or contact me…

*For the entire article read here



Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, Realtor

Boulder News: CNNmoney releases the ‘Top 100 Places to Live 2011′ Guess who’s at the top?

Today, CNNmoney released their ‘Top 100 Places to Live 2011′ list, ranking 3 Colorado cities in the top 20.  The rankings are based on a combination of job opportunities, fiscal strength, top-notch schools, safe streets, good health care, cultural and outdoor activities, and nice weather.
HERE are the ranks for the three Colorado cities that made the top 20:

20. Superior, CO

Top 100 rank: 20
Population: 12,900
This former coal-mining town is a cyclist’s dream. Superior’s stunning mountain roads draw hundreds to the annual Morgul Classic bike race, and the town recently built a BMX bike park. Homes are more affordable here than in nearby Boulder, but residents have access to the same high-performing school district. Many of the city’s well-educated and affluent residents work in the tech sector, at Denver-area employers such as Oracle.
The second Colorado city is Castle Rock, CO, ranked #19: 

19. Castle Rock, CO

Top 100 rank: 19
Population: 37,200
With roots in mining and railroads, this affluent town offers an updated taste of the Old West. It boasts an historic downtown area, 265 acres of parks, and 44 miles of trails. Douglas County Rodeo comes to town each summer, complete with a fair and parade. And there are bargains to be had at the nearby outlet mall. The local economy is improving too. A manufacturer for wind turbine parts recently moved to Castle Rock, and officials have earmarked an economic development assistance fund of $5 million to bring new businesses to town.
…and the third Colorado city is Louisville, CO, taking the top spot at #1

1. Louisville, CO

Top 100 rank: 1
Population: 18,400
Unemployment: 6.3%
This sunny, lively mountain town is safe (crime rates are among the lowest in Colorado) and easy to navigate. Lots of good jobs in tech, telecom, aerospace, clean energy, and health care can be found right in Louisville, and more are on their way. And there’s world-class mountain biking, hiking, and skiing in the nearby Rockies. Real estate prices have barely budged since 2005, yet a typical three-bedroom house here still runs less than a comparable one in nearby Boulder. Its schools consistently rank among the top three academically in the Denver area.

Way to go Louisville!  I deal a lot of business in Louisville and would have to say it is one of the nicest towns I have ever seen.  Complete with  historical old town and new development, but at the same time keeping a sort of small town charm.  It is a booming city full of opportunity, and compared to Boulder it is much more affordable. 


Matt Ullrich
303.941.2452.cell
303.4152251.office
RE/MAX of Boulder, realtor

Real Estate News: ‘The Basics of Homeowners Insurance’

Are you a current homeowner, or looking to be one in the future?  Well then you are going to want to have Homeowners Insurance and I’m sure your going to be taking a lot of time searching for the right coverage.  Take a short cut and read this attached article to RealtyTimes.com and read their experts tips for picking out the right type of coverage for you.

*Read the article ‘The Basics of Homeowners Insurance’ here!


Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, realtor

Boulder News: ‘Lowe Alpine Coming back to Boulder’

Lowe Alpine, a backpack maker is moving back home after being bought out by parent company Equip Outdoor Technologies.  Lowe Alpine’s distribution and marketing will be relocating to Louisville by November 1st of this year. 

“I have long admired Lowe Alpine, and it has been an inspiration to me during the 20 years that I have been working in the outdoor industry,” Matt Gowar, Equip’s chief executive officer, said in a statement. While Equip is based in Derbyshire, United Kingdom, Gowar lives in Boulder.”

This is the second company that I have heard relocating to Louisville in the past few weeks.


Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, realtor

Boulder News: ‘Geeky is Good?’

Boulder was recently voted America’s 2nd Geekiest City.  In a national search the U.S. National Science Foundation conducted its annual “Science and Engineering Indicators” report, and found Boulder to be a top producer.  To break it down, the geekiest city in America is the city with the tech and science jobs per capita.  Boulder was found second at 17.4% to be beaten only by San Jose, California with an 18.2% and the new title of ‘Geek Capital of America’.

*To read the entire Geek list follow this LINK.


Matt Ullrich
RE/MAX of Bouder, realtor
303.941.2452.cell
303.415.2251.office

‘Stock Market Takes Hit from Financial Stocks’

On Monday the Dow Jones Stock Market took a big hit coming after the New York Times reported a lawsuit from AIG to Bank of America.  The lawsuit is over $10 Billion dollars in damages from BofA for misrepresentations on mortgage-backed securities that AIG insured.  Following the release of the story BofA stock took a huge hit, dropping more than 20% closing at $6.52.  The stock market also took a hit after Standard and Poor downgraded the U.S. debt rating from a AAA rating to a AA rating, investors braced for a massive sell-off and prices plummeted.  Still holding strong, the price of Gold jumped $70 making the price of gold per ounce a whopping $1,721.
The Dow Jones fell 631 points, making it the sixth worst day of trading in the history of the Dow Jones Industrial Average.  Monday’s slide took down nearly every financial stock including JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley

My opinion:  This is not a huge deal, for this morning there has already been large turnarounds for investors buying off the cheap stock.  It will however cause another variable in the economy, staging off recovery until the stock market is corrected.


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Happy Monday, Summer Sets

Happy Monday everyone and enjoy the work week.  For many this is the last week of summer before the kids go back to school.  Make sure to take some time and make some summer memories. #Summerfun.

Matt Ullrich

RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Boulder news: ‘Boulder ranked 3rd for best place to live’

An article by the Wall Street Journal, under personal finance, has a brand new top 10 list of the ‘best places to live in the U.S.’.  Boulder was ranked third by ‘RelocateAmerica’ in this year’s annual Top 10 list.  Boulder was ranked 3rd because…

“Boulder is a stable community at the foot of the Rocky Mountains — and a city that is well-loved by its residents, said Steve Nickerson, president of RelocateAmerica. In addition to its picturesque scenery and opportunities for outdoor recreation, the city offers a variety of cultural attractions, according to RelocateAmerica”

We were beat out only to #1 Austin Texas, they have strong economic opportunity and cultural attraction, and #2 Grand Rapids, Michigan, for its solid schools, strong economy, and housing market.

*See the entire Top 10 list HERE!


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2254.office

Real Estate News: ‘Signs of Market Improvement, Mortgage Applications Rise 7.1%’

Hot off the press:  The Mortgage Bankers Association’s market composite index (measures the volume of mortgages nation wide) rose 7.1% over the last week showing signs over a healing market.  The increase in mortgage applications shows that people are still wanting to buy homes.  This is great news on the national level because it is showing strength coast to coast and when that happens banks, sellers, the economy, everyone feel the good effects.  GOOD NEWS!

Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

'Alfalfa’s doing well’

Local grocery store Alfalfa’s recent return to Boulder has done so ahead of projections.  After being open for about 10 weeks the organic and natural grocery store are seeing a growth of new and loyal clients filling up their store.

“You have to be mindful when you open a new store that … you take sales dollars from existing places. Our sales dollars come from other competitors here in town,” Retzloff said. “We know the neighborhoods surrounding our store are very happy that we’re back because they don’t have to go to 28th Street.”

Alfalfa’s doesn’t have big plans for the future, the owner says they are just working on getting back their customers from their 9 month absence.  SUPPORT LOCAL STORES!


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Boulder CO: ‘RE/MAX ranks first among buyers, sellers in JD Power Survey’

From a survey of more than 3,680 buyers and sellers found RE/MAX to be ranked first overall for satisfaction.  Of the home buyers surveyed, RE/MAX was found to have the best satisfaction, as well, among home sellers RE/MAX took the top spot.  GO RE/MAX!


Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251.office

Boulder Real Estate News: Boulder Housing Market Statistics

There is so much information out there about the housing market and most of the data is on a national basis and can not be used for the City of Boulder.  Our market here is performing strides above everyone else and to show you, I have a few statistics about Boulder that show you the housing market here is moving in the right direction.

2011 Housing Statistics:
-The average sales price in June 2011 has increased 1.8% from June 2010, making a noticeable jump from $433,675 to $441,56.
-The average sales price of a single family home, in the 1st half of 2011, in Boulder is $672,073.  This is the highest average sales price in Boulder since 2007 at $674,592.
-The average sales price of attached dwellings, in the 1st half of 2011, in Boulder, has increase 6% from $251,503 in 2010 to $266,650 in 2011.  This is the highest average sales price of attached dwellings in Boulder over the past 8 years.
-The number of showings per listing is higher today, on average, than the last two years.
-Foreclosures in the first half of 2011 have decreased by 25% from this time last year.
-39% more contracts were written this June than in June 2010

As for RE/MAX of Boulder, INC. we continue to remain the strongest real estate office in Boulder with a combined 488 listings and sales, so far this year.  Our closest competitor, Coldwell Banker Residential 28th street, is clocking 200 combined.  RE/MAX also holds the highest sales in the area with 229, compared to the next closest, Coldwell, with 96 sales.

Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

‘Licious Organics’, Boulder’s own Raw Cookie company…mmm

I had the pleasure to meet the owner and founder of Licious Organics Lauri Wirichs, yesterday and was turned on by her delicious cookies.  Lauri and Licious Organics make THE BEST raw cookies around.  They are even made with ‘home grown’ honey and is 100% organic and deLICIOUS (get it).  The goal of the company is to take lead of the green movement and make a 100% organic product, meaning all food ingredients are pesticide free and additive free, as well the packaging is made from from a non-GMO, 100% compostable alternative to plastic.  Pretty neat concept.

So next time your out grocery shopping, support local companies like Licious Organics, you can find them at any local Whole Foods Market, Lucky’s Market, Alfalfa’s Market, Sunflower Farmer’s Market, and Online.

Visit Lauri and Liciousorganics online at:  liciousorganics.com


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

President of the Humane Society talks animal rights in Boulder

Wayne Pacelle, president of the Humane Society of the U.S. has been on a national tour to promote his new book “The Bond:  Our Kinship with Animals, Our Call to Defend Them” spoke at Barnes and Noble in Boulder last night.  This national tour is part of his campaign to grow the bonds/relationships between humans and animals.  Wayne has also teamed up with Michael Vick, the NFL quarterback who pleaded guilty to dog fighting charges, to lobby for a bill that would impose more strict penalties for spectators who bring minors to animal fights.

Be supportive of your local Humane Society and donate today!  <https://www.kintera.org/AutoGen/Simple/Donor.asp?ievent=317377&en=otKSL4NKI9INKZMDKfLWJbMRKdITI8POInJ2JiO2H>
Love,
Whiskers

Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251.office

Foresight vs Hindsight: Sell Now or Later?

Sell now or later?  A very popular question right now around the country.  Will things get better or worse?  Looking at Boulder and Colorado statistics for the second quarter of 2011, we are very on track with our sales, listings, and average home prices for this time of the year, however, the summertime is the highest volume of transactions of the year, with the most people buying and selling.  Come September/October the number of people ‘looking’ drops annually.  In my personal opinion Boulder and Colorado’s housing market has remained strong, and even though we are still at a low point the market is still functioning. 

People are scared to sell their house below what their purchasing price is, because they think they are losing money.  BUT the new home they are buying is also selling below their purchase price and you therefore come out even.  *The home you are selling is at a cheaper price, but the home you are buying is also at a lower price.  Everyone’s affected.

To answer the question of sell now or later, you will need to follow THIS link at RealtyTimes to read the full article.  If you have any questions about the housing statistics in Boulder or Colorado feel free to call or email me.


Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251