How to be a Competitive Buyer in a Seller’s Market

Image from Keeping Current Matters

There's no getting around it; now is a tough time to be a buyer. With scarce active listings and median home prices creeping up, it may seem like a tough time to buy a home. Here are a few things you can do to remain competitive in this market:

First and foremost, know your budget. This way you can make informed decisions before putting in an offer. Knowing your budget allows you to narrow your search and focus energy on homes within your price range.

Compile a list of must haves and deal-breakers. If you know you are looking for a 2+ bath home, referencing this list will keep you from making offers on a home that may not actually suit your needs.

Get pre-approved to borrow. This shows the seller that you are serious about purchasing their house and can fast track your offer.

Build a team of trusted professionals. You'll have a better chance at landing your dream home when working with experienced leaders in the industry.

4 Reasons Why Today’s Housing Market is NOT the 2006 Bubble all Over Again

4 Reasons Why Today’s Housing Market is NOT the 2006 Bubble all Over Again

You're not alone if you're concerned about buying into today's market. Across the country, we are seeing housing prices much like 2006, but there are four key metrics that explain why this market is quite different than 12 years ago. 1. Home Prices 2. Mortgage Standards 3. Mortgage Debt 4. Housing Affordability HOME PRICES Yes, they are high, but if you account for inflation, after more than a decade, values should be much higher. Chief Economist for CoreLogic, Frank Nothaft, explains it like this, “Even though CoreLogic’s national home price index got to the same level it was at the prior peak in April of 2006, once you account for inflation over the ensuing 11.5 years, values are still about 18% below where they were.”    MORTGAGE STANDARDS Some folks are concerned that lending standards are easing, which was a big contributor to the 2006 housing bubble. However, according to the Urban Institutes Housing Credit Availability Index (HCAI), the riskiest loan products have been eliminated and lending standards are much tighter on a borrower's credit situation.   MORTGAGE DEBT In 2006, many homeowners continued to withdraw from home equity and spend it without concern for ramifications. That is not occurring in today's market. The Federal Reserve Board's household Debt Service Ratio for mortgages calculates mortgage debt as a percentage of disposable personal income. At the height of the 2006 bubble market, the ratio stood at 7.21%, today, the ratio is at 4.48%. This is the lowest in 38 years! HOUSING AFFORDABILITY Lastly, with home prices and mortgage rates on the rise, there is concern that homeownership may not be feasible for many buyers. From a National perspective though, the Housing Affordability Index shows that homes are more affordable now than an other time since 1985 (with the exception of after the 2008 crash). BUT WHAT ABOUT COLORADO AND BOULDER COUNTY? Here in Colorado and specifically Boulder County, it may not seem that we are aligned with National averages. However, according to Mark Fleming, Chief Economist at First American Financial Corporation, Boulder County homes are still more affordable than they have been in anytime over the last 40 years, and Longmont leads the pack! If  you missed it, Kyle Snyder of First American Title, along with First American Financial Corp and the Longmont Association of Realtors released the Annual Longmont Affordabilty Review at the end of March. Read the full review here: http://bit.ly/2GbH8LO ​No matter the market, deciding to buy a home is one of the biggest decisions of a lifetime. Our team takes the time to educate our buyers on the local market and can help unravel the questions and concerns that come along with buying a home. Give us a call at 303-776-4004 or send us an email at homes@justlistedcolo.com - we'd love to help YOU!

Rocky Mountain National Park Series – December 3rd Full Moon Hike

Rocky Mountain National Park Series – December 3rd Full Moon Hike

by Cory Dudley

Bask in the light of the full moon in Rocky Mountain National Park this Sunday 12/3.

What better a way to get into the holiday spirit! 

Photo Credit: NPS/Russell Smith

The Rocky Mountain Rangers lead Full Moon Walks in the winter months, the first one this coming Sunday. Groups leave from Beaver Meadows at 5 pm. Reservations are required and can be made in person or you can call the Beaver Meadows Visitor Center at 970-586-1223. Maybe there will even be a little fresh snow from the system that passes through Sunday - fingers crossed!

Congratulations to our Sellers, Who JUST CLOSED!

Congratulations to our Sellers, Who JUST CLOSED!

Congratulations to our sellers!

They JUST SOLD their spectacular luxury townhome in the Renaissance neighborhood of southwest Longmont. With an ideal location alongside a neighboring greenway and intelligent design options & green features, we knew this one would go fast...

This unbelievable townhome is the second one in 2 years that Cory has sold for the highest known price in the Renaissance neighborhood. He admits to getting a bit of a rush seeing where the market will go and maximizing his clients return, so they can dream big on their next home purchase.

Our strategies work, are proven and in the end, they deliver!

Cory feels blessed and honored to be a top producing, full-time real estate broker and business owner in beautiful Colorado. He gives everything he has to fulfilling his client's dreams of home ownership - and it's a privilege he doesn't take lightly. His family includes his wife and daughter, and they feel fortunate to call Longmont their home.

Cory can be reached by mobile at 303.641.8597 or email at cory@justlistedcolo.com.

Congraulations to Our First Time Homebuyer!

Congraulations to Our First Time Homebuyer!

Congratulations to this first time homebuyer - we found a winner! We're so proud of you, Chelsea...

Congratulations again from all of us!

Christa is a Licensed REALTOR for The Winning Team Real Estate Group at Old Town Real Estate in beautiful Longmont, Colorado. Christa is The Winning Team's Buyer's Specialist. Her business background gives her the experience and expertise a Buyer needs and wants in today's competitive market. Christa lives with her contractor husband, Guy, and their two pups Bubba and Whim in the foothills of North Boulder. Christa can be found spending her free time mountain biking, skiing, running and enjoying her home and property. It's all that Colorado has to offer that keeps Christa and Guy happy, healthy, and enjoying life to it's fullest.

Christa can be contacted via email at christa@justlistedcolo.com  or mobile at 303.913.9698

Congratulations To Our Buyers!

Congratulations To Our Buyers!

Congratulations to our buyers, who just closed this afternoon on a great condo in the Vista Ridge neighborhood of Erie...

Time to downsize and enjoy some relaxation....

Enjoy the views from that hottub, too! We're grateful to have helped you through the process.

Christa is a Licensed REALTOR for The Winning Team Real Estate Group at Old Town Real Estate in beautiful Longmont, Colorado. Christa is The Winning Team's Buyer's Specialist. Her business background gives her the experience and expertise a Buyer needs and wants in today's competitive market. Christa lives with her contractor husband, Guy, and their two pups Bubba and Whim in the foothills of North Boulder. Christa can be found spending her free time mountain biking, skiing, running and enjoying her home and property. It's all that Colorado has to offer that keeps Christa and Guy happy, healthy, and enjoying life to it's fullest.

Christa can be contacted via email at christa@justlistedcolo.com  or mobile at 303.913.9698

JUST SOLD! Perfect Addition to Client’s Investment Portfolio

JUST SOLD! Perfect Addition to Client’s Investment Portfolio

We're so happy that we were able to find our client a fantastic investment property to add to his growing portfolio - and in the neighborhood of McKay Landing!

The property has a pool, bike paths and is within walking distance to McKay Lake!

Congratulations again! I'm honored that you put your trust into the team and I to guide you through this important decision!

Cory Dudley, Principal Broker

Cory feels blessed and honored to be a top producing, full-time real estate broker and business owner in  beautiful Colorado. He gives everything he has to fulfilling his client’s dreams of home ownership - and it’s a privilege he doesn’t take lightly. His family includes his wife and daughter, and they feel fortunate to call Longmont their home.

Cory can be reached by mobile at 303.641.8597 or email at cory@justlistedcolo.com.

Call us if you want a 'SOLD' sign in your yard!

JUST SOLD in the 60+ Hover Place Community!

JUST SOLD in the 60+ Hover Place Community!

I'm so excited and happy to have helped these two find the perfect home for the next chapter of their lives!   Landmark Homes in Hover Place offer low-maintenance, attached homes in a strictly 60+ community. They believe homeowners in their neighborhood value quality construction, a premier location, premium amenities and mature, friendly neighbors. Homeowners can appreciate the accessibility of their designs, which include single levels, attached garages, secured entry and an elevator service. The view overlooking Hover Park is simply the cherry on top! Congratulations, friends - and welcome home! Cory Dudley, Principal Broker Cory feels blessed and honored to be a top producing, full-time real estate broker and business owner in  beautiful Colorado. He gives everything he has to fulfilling his client’s dreams of home ownership - and it’s a privilege he doesn’t take lightly. His family includes his wife and daughter, and they feel fortunate to call Longmont their home. Cory can be reached by mobile at 303.641.8597 or email at cory@justlistedcolo.com.

Just Sold in the Exclusive Fox Hill Neighborhood!

The Winning Team Real Estate Group just closed on a beautiful home in the Fox Hill neighborhood in Longmont.

Congratulations to both the Sellers and Buyer. I was honored to represent them both in this major next chapter of their lives!

#BringingYouColorado

Call us if you want a 'SOLD' sign in your yard!