Jeff Feenstra

Boulder Real Estate - Should I Sell? Should I Buy? Is the time Right?

Jeff Feenstra — Fri, 26 Mar 2010 14:07:00 GMT

Should I or Shouldn’t I? If you’re a Seller, or a Buyer, you are probably are asking these questions as we approach springtime! Should I sell? Should I Buy? Is it the right time? The question, If I wait till next year or the following year, will prices rebound and skyrocket back up? Will the Banks gain some stability and loosen their belts freeing up the supply of money for prospective buyers? Are you kidding!!! Seems the lenders continue to tighten their skivvies. Could be sometime before we see prices headed back up…Price volatility over the short-term I’d say sums it up! Buying opportunity, maybe! Selling or buying for the short-term will most likely be volatile, “Buy and hold in Boulder” as they say in the stock market is a safer bet. Short-term buyer speculation is a high risk. A Seller, Selling later could be a high risk. As a Seller, you know right now what you have and what selling price you might realize. This is lower risk. Some background for you to consider: The real estate market is a very slow moving slug. It takes 8-12 months following any serious economic event for the real estate market to react. (We’ve been in one of these markets!) To gauge this market we analyze activity measured by the number of contracts closing, the number of showings, and the number of contracts versus inventory, all compared to earlier years. Consequently, if negative conditions remain consistent for a period of time, average prices will start to come down! As of Feb 1st the City of Boulder single family homes average prices are down <1.4%> YTD. (Better than last month and a good sign that the trend may be up) Median Price is down <2.4%> (half the homes sold above, half sold below). The number of Sold Single family homes is down <25.1%> YTD. In the “Republic of Boulder” this can be deemed as GREAT news since prices are holding in lieu of the number of sales being down versus Year Ago. But who’s counting! The risk of waiting to sell is anybody’s guess. Your situation should be evaluated. Selling now and then buying in the same city is much less risky. “All things rise and fall with the tide” as long as you’re in the same boat, in the same bay. If you sell lower, you’ll buy lower. You could sell now, and then rent and wait it out. Or you could sell and then buy in a market that has fallen hard. The one sure thing is that all markets have momentum (Big Mo) and they are slow moving. Never forget that the “Trend is your Friend”! Timing is surely important here. Buying on the way up is a good risk. A stable, highly desirable market like Boulder where prices are flat is another good risk. Should you buy? I don’t know! Do you have any money? Do you have a job and a paycheck to prove it? If you haven’t talked to your lender in awhile you may not qualify for a loan anymore. Do yourself a favor. Get pre-approved before you go shopping. Know your price range and shop in that range. It will save you and your agent lots of time. Before I forget: Buyers have some “Obamacentive” (homebuyer credit) to purchase a new home. You need to go under contract before April 30th and close by June 30th for a maximum credit of $8,000! This is a completely refundable credit – a dollar for dollar reduction of your income tax liability. If you’re a home owner (long-term resident) wanting to move, you also have a tax incentive to the tune of $6,500, if you’ve been living in the same residence 5 consecutive years during the last 8 years. This is assuming the government coffer keeps on giving and we are able to continue paying China interest on its interest… If you’re a buyer and you have a regular paycheck, and you’re buying in the Boulder Area, it’s probably a safe bet to purchase now. Boulder has only been down <1-3%> on an annual basis only twice in the last 32 years! Now, and once in 1983 when Mortgage Interest rates were 16-18%! Check out www.fhfa.gov to compare your US City price index. Boulder was recently rated the #1 Happiest City in the Country to live by USA Today which continues to make our town a great place to buy. USA Today released its comprehensive list of America's happiest, healthiest cities Monday, and the West was dominant. 8 of the top 10 cities were West of the Mississippi, and 3 of those ten were in the Rocky Mountain West. Posted Feb 15, 2010. This also helps make buying in Boulder a very low risk for the long-term. (5+ years out). Buying in the Short-Term which I see as one to three years out, we may see some price volatility. So what are you waiting for? The 2010 Olympic Winter Games in Vancouver are over and it’s time to get our lives back on the rollercoaster of life and enjoy the fact that we live in one of the Happiest Places on Earth, next to Disneyland that is! Until Next time. I’m your friendly neighborhood Realtor Jeff Feenstra of Feenstra Real Estate and Property Management. I can be reached at 303-931-7320 or email at Jeff@FeenstraRealEstate.com or on the web at www.FeenstraRealEstate.com

Boulder Condo at Pendleton Square - 2 bedroom 2 bath

Jeff Feenstra — Sat, 13 Feb 2010 13:49:00 GMT

Wonderful 1st floor two bedroom, two bath condo. Features designer paint throughout and nice patio. Also features Wood Fireplace and Includes newer washer/dryer. Walk to shops, grocery, bus, parks. Pool and clubhouse. Carport space is # 89. HOA fee includes heat. Available Immediately! Listed at $1100 per month.

Boulder Real Estate Aficionados!

Jeff Feenstra — Fri, 12 Feb 2010 14:33:00 GMT

Dear Boulder Real Estate Aficionados!

Happy Valentine’s Day! Your home has a contract to sell that has been signed by all parties! Wow, that’s “music to my ears” you say! Well… First you must have been on the Market “For Sale” and you would be one of the 140 properties Under Contract (UC) of the 804 properties on the market! That’s 17% of the market Under Contract today! Not bad for an early season blip from years past. “How did you get your home UC your neighbors inquire politely?” “Well”, you say “I priced it a lot lower than I should have. I de-cluttered big-time! You know the things I use at least once every couple or years, and I copied all I could from the designer homes I see in those home-type magazines! Oh, and I buried Saint Joseph upside-down in my backyard with his feet pointing up at a 22.2 Degree angle, offset 1 degree for solar gain! (http://www.saintjosephsellshomes.com) Whew, and did I mention I sent the kids to Grandma’s and Grandpa’s in Arizona to keep the house in show condition!” And that’s how you did it you say.

Well, you’re not that far off! If you don’t have a contract within 30 days, either you made a mistake on your price or it’s a really horrible Market (nope, not Boulder). You probably priced your home too high…. Above the tree line, out of radar range, out of “the zone”! This market is a new market! Even Boulder isn’t immune.

Do all you can when you have a showing on your home! Wine, dine and dazzle your prospective buyers with sweet sounds, fresh flowers and chocolates. Include some Soft background mood music with soft lighting and candles (Fake candles for this article of course, real ones are a fire hazard). Bake some fresh bread or some chocolate chip cookies to dazzle the nasal senses. Emotional reactions are what your home needs to give birth to. Vacuum, dust, do the dishes, and put the toys away mom. I know you’re proud. I have kids too, but they aren’t buying my house! No diapers, no pacifiers and definitely no signs of your family pets “stuff”! You know what I mean here right?

You want to move on, move out, pack up and mosey on down the road, right? Get it right at the beginning of your listing. Don’t chase the market! You’ll end up sitting, stewing, and staying longer than you’d planned in your “I’m over it” abode, wishing you’d listened to me in February!

Happy Valentines Dear! Until next time, I’m your friendly neighborhood Realtor Jeff Feenstra.

Jeff owns Feenstra Real Estate and Property Management in Boulder and can be reached at 303-931-7320 or emailed at Jeff@FeenstraRealEstate.com. www.FeenstraRealEstate.com

Louisville Real Estate - New listing across from Heritage Park

Jeff Feenstra — Thu, 04 Feb 2010 14:13:00 GMT

281 S Buchanan Circle, Louisville, CO 80027

Incredible S. Facing Lot Tri-Level Home Across from the PARK! In Cul-De-Sac with View to Open Space and Park. Walking Trails, Basketball Court and Baseball fields 200 Yards away and Playground for the kids!

Featuring Newer Vinyl Windows, A/C, Furnace, Hot Water Heater, Storage Shed and a place for your trailer. Professionally Zeroscaped for your enjoyment! 2 beds up and 1 bedroom down with a 17X12 Rec room in lower level. Vaulted Ceilings in the living area and Great Back Deck for the BBQ get togethers.
Close to shopping and Dining this home will go FAST!

Boulder Real Estate - State of the Market

Jeff Feenstra — Thu, 04 Feb 2010 14:10:00 GMT

Where We’ve Been, Where We’re Going?

2009 at a glance:

· How is the City of Boulder fairing on its Median Price? Not bad for being down just <2.6%> vs. Year Ago. Last time we were in this range was 1983 when interest rates were in the 16-18% range! City of Boulder holds up even in the most difficult times…

· No Doc loans and stated income loans are a thing of the past. Yes, you really need to prove you have an income to pay for your mortgage!

· Jumbo Loans became very restrictive, yet you can still lock in a 30 year rate in the mid 6% range. Adjustable rate mortgages are in the mid 4% range!

· The Stimulus Package helped Boulder County increase in the 4^th Quarter single family home sales. In 2009 sales increased to 752 from 604 in 2008! A 24% increase in homes sold! Attached Dwellings increased in 2009 to 261 from 203 in 2008! A 28% increase! Total Sales 3,069 from Dec 1, 2008 to Nov 30, 2009 compared to 3,606 homes in 2008 same period, a 15% decrease. Condo’s are down 11 percent from 1,345 to 1,193 during the same period. We’re on the uptrend even with that said based on the great 24% and 28% increase of last quarter!

Reviewing the numbers in the City of Boulder for single family homes for the last 4 years from 2006 thru December 31^st of 2009 we see that prices remained fairly flat with the Median Price in the City of Boulder in 2006 at $545,000. In 2007, $550,500, 2008 $539,000 and in 2009 $525,000, down only <2.6%> versus Year Ago. The big surprise is that across all prices ranges we’ve seen a similar reduction in the total number of sales. Some thought the high-end listings (over $1M) would have seen a more significant reduction in total sales in 2009. Down just 22% versus year ago.

· 2009 Total Sales in the under $600,000 range in single family homes in the city of Boulder we are down <25%> versus Year ago, down <37%> versus 2007, and down <53%> versus 2006 where 729 homes were sold versus 342 in 2009.

· 2009 Total Sales over $600,000 range in single family homes in the city of Boulder we are down <30%> versus Year ago, down <46%> versus 2007, and down <50%> versus 2006 where 448 homes were sold versus 222 in 2009.

· 2009 Total Sales in the $600,000 - $1M range in single family homes in the city of Boulder we are down <25%> versus Year ago, down <44%> versus 2007, and down <52%> versus 2006 where 339 homes were sold versus 163 in 2009.

· 2009 Total Sales over $1M range in single family homes in the city of Boulder we are down <22%> versus Year ago, down <39%> versus 2007, and down <32%> versus 2006 where 102 homes were sold versus 69 in 2009.

I believe that there is some pent up demand for housing out there. The first of the year showed very good activity for buyers looking for their next home. A great measure I use of things getting better is the Percent of single family homes under contract versus year ago. As of January 19^th, 2010 the percent of single family homes under contract are up from 9% of the inventory Under Contract last year to 14.6% this year, a 62% increase! Condos aren’t yet feeling the momentum of being Under Contract. They are down at 11% this year versus 17.9% last year.

Selecting the right price point and staging your home for sale are the most important factors any seller can focus in on. This is a new market and becoming realistic in your pricing early on can make the difference in your home selling or not.

Well that’s it for the State of the Union in the City of Boulder this month! Stay tuned.

This is Jeff Feenstra of Feenstra Real Estate and Property Management Specializing in Boulder Real Estate Sales and Property Management signing off for now.

I can be reached at 303-931-7320 or emailed at Jeff@FeenstraRealEstate.com. Website address is: www.FeenstraRealEstate.com

Open House in Twin Lakes on Sunday

Jeff Feenstra — Fri, 02 May 2008 16:25:55 GMT

Twin Lakes, Gunbarrel - We invite everyone to visit our open house at 6811 Bugle Court on May 4 from 1:00 PM to 4:00 PM.

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Open House in Indian Peaks on Sunday

Jeff Feenstra — Fri, 02 May 2008 16:25:52 GMT

Indian Peaks, Lafayette - We invite everyone to visit our open house at 622 Beauprez Avenue on May 4 from 1:00 PM to 4:00 PM.

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3 Story For Sale in Boulder

Jeff Feenstra — Thu, 24 Apr 2008 06:00:00 GMT

• 1,778 sq. ft., 3 bath, 5 bdrm 3 story - MLS® $398,750

Boulder, Boulder County - VIEWS!! VIEWS!! VIEWS!! Amazing VIEWS & PRIVACY IN THIS sought after SHANAHAN RIDGE LOCATION!! This South-Facing END, END UNIT OVERLOOKS SHANAHAN RANCH OPEN SPACE & THE DAVIDSON MESA. Light & Bright featuring 5 bedrooms,3 baths! Enjoy WOOD FLOORS, TILE in Kitchen and all Baths, Living FIREPLACE, FENCED PATIO & SOUTH DECK. Park in your own 1 CAR GARAGE with ADDITIONAL PARKING. Feels more like a Single Family home since this is the largest floor plan in the Shanahan 2 complex. Won’t last!!

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3 Story For Sale in Indian Peaks

Jeff Feenstra — Fri, 11 Apr 2008 06:00:00 GMT

Location and High-End Upgrades!

• 2,018 sq. ft., 3 bath, 3 bdrm 3 story - MLS® $298,000

Indian Peaks, Lafayette - This premium lot LOCATION townhome features OPEN SPACE in front & back & many high end upgrades. Kitchen boasts HARDWOODS, stainless appliances with gas stove, large island & nook. Two-sided gas FIREPLACE highlights formal dining & comfy family room. Home also features A/C, plantation shutters, balcony with snow capped VIEWS, soaring ceilings, 5 piece master bath & master retreat area. Natural LIGHT bathes home. Relax indoors or outside in the beautifully landscaped courtyard. Truly a must see!

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Single Story For Sale in Boulder

Jeff Feenstra — Mon, 07 Apr 2008 06:00:00 GMT

INCREDIBLE VIEWS!

• 2,288 sq. ft., 2 bath, 4 bdrm single story - MLS® $589,000 - ON THE PARK IN N. BOULDER

Boulder, Boulder County - BEST LOCATION on the PARK! Quiet, Safe and Peaceful 4 Bedroom, 2 bath Ranch with Soaring Ceilings, walls of windows & Skylights to bring in the outdoors! This home has all the UPDATES. With an Addition and Remodel in 2001, this Beach Front-like Home boasts 2 GAS FIREPLACES, HARDWOOD FLOORS, Marble/Granite SLABs in all Baths with SOLID Maple/Cherry CABINETRY and Designer Tile. Unwind with Unobstructed Kitchen/living room Views of the park! Kitchen Features Hardwood floors, Granite Tile Countertops/Backsplash with Maple Cabinets. Relax on your HUGE 20'x16' Park-side Deck with a new in 2002 recessed Top of the Line, Hot Spring Hot Tub. Enjoy the 8'X16' East Deck for early morning Coffee. Detached 2 car Garage is poised for Pop-up Study on the Park! Professionally Landscaped. Lower level boasts an 14'X3' Atrium for Natural Light, built-in Desert Aquarium, and Custom 12' California Closet in the 3rd Bedroom. Equipped with A/C, home also offers a New high Efficiency Furnace, Roof and H2O Heater in 2002. Tiled Laundry. HURRY, this one won't last!!!

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Single Story For Sale in Martin Acres