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YOUR RESIDENTIAL PROPERTY MANAGEMENT EXPERTS
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| Whenever you see words that are underlined in blue, be sure to click on them as they are hyperlinks to the rest of an article or report. |
Kevin Chard Accredited Buyer's Representative Designation
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GRI, CRS, CRP - what does all this alphabet soup mean to you when you see it in print? When you see initials like these behind a REALTOR's name, it means that this person is a committed professional, not content just to take the courses needed to earn and maintain a real estate license, but determined to improve their professional skills. REALTOR's have devoted time to attending advanced educational courses and taking examinations to earn these designations to better serve their clients.
ABR: Accredited Buyer Representative - This designation is awarded by the Real Estate Buyer's Agent Council (REBAC). It denotes a Sales Associate who is qualified to provide buyer representation and is familiar with buyer brokerage and buyer agency issues. Earning the ABR requires attending a 12 hour course with a minimum passing final exam grade of 80%, active membership in REBAC, at least five documented transactions during the previous 18th month period where the Sales Associate acted as a buyer's representative, and the completion of an additional 8 hour elective course with a minimum passing grade of 80%.
We're proud that Kevin has received this designation, as it allows him to provide an enhanced and higher educated performance level with his Buyer partners. Kevin has been extremely busy this Spring and Summer assisting numerous residents transition from renting into home ownership, working with investors seeking to create or add to their real estate portfolio, and Sellers who wish to liquidate their investment or primary property.
If you have any questions on our regional real estate market, your particular property, or would like a Comparative Market Analysis (CMA) and Estimated Seller's Net Sheet created for you then feel free to reach out to Kevin at Kevin Chard or contact him in our office at 303-666-4300.
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Low inventory is still the primary dilemma in our Boulder County market. In May we only had 696 single family homes for sale across the entire county, the five year average for this time of year is 1,637 homes putting our current inventory over 57% off the average. This trend isn't constant across all areas however. Some towns have more homes available this year than they did last year, like Lafayette and Superior. Others have about the same, like Louisville and Erie; while Boulder, Longmont and the Suburban plains have fewer.
Our ongoing inventory dilemma will continue to make it difficult for buyers who are almost always competing against other buyers for properties. Even in areas with more homes for sale over last year, the overall number is still so much lower than normal that this slight uptick hasn't relieved much pressure. Our number of Homes Under Contract is also higher than the 5 year average. More demand and dramatically less supply equals the price appreciation we've been seeing.
Lafayette is the one city that is seeing a significant higher level of inventory, 48% more than this time last year. While initially this sounds impressive, this change in actuality only means an additional 15 more homes are on the market this year as compared to last year. The 2014 inventory levels in Lafayette remain at 50% of the five year average, and the number of Homes Under Contract is higher than at any time since 2005 and was at 58.93% under contract in mid-May.
New construction builders are continuing to increase supply by building new homes throughout the metro area. Not as many projects are underway in Boulder County, but throughout the rest of the Metro area, builders have numerous projects underway. More inventory will definitely help our market become more balanced, although our building pace will take some time to catch up to historical pent up demand coupled with our current ongoing demand rate for shelter. Our state continues to enjoy a better than national unemployment rate, and also continues to attract population figures from outlying states due to our economy, attractive weather, and lifestyle; so we need to build to current demand rates and to our demand backlog.
Our inventory of homes for sale through the first half of 2014 has been even lower than our previous period in 2013. With even fewer homes for sale it would be hard to have higher Monthly Number of Sales as homes going to market are generally all selling. When just about everything sells, fewer homes available equals fewer home sales. As our inventory levels appear to be growing above last year's level, we may recognize some recovery in the second half of the year.
Interested in Boulder County's single family home, condo and townhome latest stats? Click on the June 2014 link to review the latest statistics just released by the Boulder Area Realtor Association. There are also Year-over-Year figures as well represented in the report. The continued good news is that our Average Days to Contract for both Homes and Condo's/Townhome's continue to decrease year over year, while Median Sales Price continues to increase year over year in virtually all of our Denver North Metro & Boulder markets.
BARA The Review | July 2014
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Erie, Lafayette, Longmont, & Firestone Make Top 10 List
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Erie residents have just 162-to-1 odds of being victims of a crime, making it the safest Colorado community to live in according to a recent report by real estate website Movoto.com.
While Erie topped the list, Lafayette landed the seventh spot and Longmont tied for 10th, giving Boulder County three communities in the top 10.
Movoto used 2010 census data and information from the FBI's 2012 Uniform Crime Report to review Colorado communities with populations of at least 10,000.
The website based its safety rankings on the incidents of murder, rape, robbery, assault, burglary, theft and vehicle theft in each community, and divided the cases into four categories: murders, violent crimes, property crimes and total crimes.
Each community was ranked based on its score in each category, and the categories were weighted so that murders, violent crimes and property crimes each made up 30 percent of the overall score. Total crimes accounted for the remaining 10 percent.
Top 10 safest communities in Colorado
1. Erie
2. Firestone
3. Windsor
4. Parker
5. Fruita
6. Arvada
7. Lafayette
8. Golden
9. Castle Rock
10. (tie) Longmont, Fort Morgan
For the complete article be sure to click on this link at Colorado Hometown Weekly Phoenix Realty and Property Management is happy to report that we manage properties in 6 of the 10 towns noted in the article.
Colorado Hometown Weekly | July 30, 2014
Source: "Erie named safest community in state by real estate website"
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