Beautiful Boulder County

Now is the Time to Invest in Real Estate in Boulder and Denver

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 08 Feb 2012 03:53:17 -0800

The Denver metro area has been receiving a lot of press lately as being one of the best places in the nation for real estate investment. Here's a video laying out why now might be the time to invest in the Denver area: http://www.youtube.com/watch?v=Y9frmEv-vPA&feature=share Furthermore, rental rates in Boulder and Denver counties are at an all-time high in the fourth quarter of 2011. The median rental rate in Boulder is $993.85, and the average is $1,037.94. Combine that with the record-low mortgage rates we've been seeing, and you've got ideal conditions for real estate investment. If you find the right property, it is possible to have positive cash flow in either area. http://www.bcbr.com/article.asp?id=61880 Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Boulder Area October 2011 Real Estate Statistics

Ann O'Connell (Real estate agent at Oak Real Estate) — Thu, 10 Nov 2011 12:27:18 -0800

The October 2011 Boulder area real estate statistics are out. Although sales in Boulder and Broomfield since June 2011 have been ahead of the same months in 2010, most areas are still logging a decrease in total number of sales this year versus last year. Last year had a lot of hype over the various tax credits available for home buyers, and I really think that this had a psychological effect of getting people out buying in the Boulder area, even if the credit didn't actually come into play in many Boulder area home purchases. Ironically, for many in the Boulder area, now is a better time to buy, since interest rates remain at crazy lows. Anyway, here's the link to the hard data. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Adventures in Boulder Mountain Real Estate

Ann O'Connell (Real estate agent at Oak Real Estate) — Thu, 22 Sep 2011 06:29:54 -0700

I love the mountains. Being close to the mountains was one of the reasons I moved to Boulder. I definitely am in the flat lands more often, and wouldn't want to do all my business in the mountains, but I get excited when clients contact me to look at mountain properties. Gives me a chance to get out there and take in some wide open vistas. Showing properties in the mountains does have its unique, um, "moments." Many of the roads higher up in Boulder County are not paved - they're well-graded and well-maintained, but unpaved nonetheless. That means you're occasionally in for a rough ride depending on where you're going, and you always have to be on the lookout for washboards in the road (for those not in the know, that's a phenomenon where the road gets rutted like a washboard, and, if you're going too fast, can cause for some interesting unintentional maneuvers). Mostly, though, you can't complain about the roads. I give a lot of credit to the powers in charge for that. What I AM going to complain about, though, :) is the occasional unkept driveway. Once you get off those county-maintained roads, it's a whole different animal. Most homeowners recognize the importance of access and keep them up. Others, not so much. When you're touring a bunch of properties and see a driveway that is just a rutted drop-off on the side of the road, it can give one a bit of heart palpitations (especially when you're by yourself, as I was yesterday, and there's no cell coverage). I think it's worth getting out and checking out the situation first before taking the plunge. The picture here is of a driveway that at first, from the road, looked treacherous, but turned out to be nothing. But I was still glad for all-wheel drive! Another thing unique to the mountains is that while GPS works, it's not nearly so accurate as it is in the flat lands. So, as a Realtor showing properties you become highly dependent on your knowledge of the area and the directions given to you by the listing agent. Giving directions in miles is most helpful; directions such as drive on Generic Rd. and look for red bridge not so much. How long on Generic Rd.? What shade of red?? It can truly be an adventure. But once the buyer finds their dream home/retreat, it's all worth it. True serenity can't be located with a GPS! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

July 2011 Boulder County Real Estate Sales Statistics

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 31 Aug 2011 08:54:08 -0700

The stats are out for July 2011 Boulder county real estate sales. There was a total of 334 single-family and 103 condo/townhomes sold in the county in July, with a decrease in total sales from last year across all areas except the plains. For the most part, the average sales price of single-family homes was very similar to the same time last year, with Boulder weighing in at an average price of $656,055, up 1.1% from last year's average price of $648,605. Not really enough of an increase to be significant, but it's nice to see that prices haven't fallen. Average days to contract is a bit longer, though; up from 79 days last year to 88 days this year in Boulder. Buyers are definitely being pickier and don't seem to be in a rush. All in all, nothing too exciting to report. We typically experience a bit of the doldrums around this time of year, and I wouldn't be surprised if all the gloom and doom in the news is affecting buyers' mindsets - even if it shouldn't. As these stats show, the Boulder area has been fortunate, and the national stats just don't apply (shameless plug: all the more reason to hire someone familiar with the local market to help you buy or sell!). If you want the nitty-gritty details, check out this link from the Boulder Area Realtor Association. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

You Should Know This If You're Considering Buying A Home In Superior, Colorado

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 23 Aug 2011 09:59:36 -0700

Superior, Colorado, real estate is going strong right now. Of the 62 single-family homes currently on the market, 19 (30.6%) are under contract. As of July 2011, the average days on market was 57 days, down from 67 days over the same time period last year. Average sales price was up, also, from $422,214 to $$428,511. (Source: BARA) One of the reasons Superior is consistently a desirable place to live is its manicured, clean streets. Everywhere you look, there are parks, neat flower beds, and well-maintained public facilities. So, how can Superior keep up this, um, superior service? (Sorry, I had to!) Every potential homeowner should know that there is a monthly city landscaping fee of $30. This may be included in the HOA assessment (check with your HOA), but for those subdivisions without HOAs (e.g., Sagamore), it is a stand-alone bill from the City. There seems to be some confusion about this monthly fee: I've spoken with some Realtors and residents who believed it gave them access to the recreation centers. However, that is separate - to use city pool and tennis, you just need to present proof of residency and obtain a $5 card for everyone in the household. The City also provides utilities for residents, and you can find out more information about the rates here. Just some good things to consider if you're thinking about buying a home in Superior, Colorado! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

A Love Letter to Louisville, Colorado

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 16 Aug 2011 08:12:23 -0700

Dear Louisville, Colorado, Congratulations, my dear, you've done it again: Money Magazine has once again found you the most desirable among your peers. Money has recognized something that your residents have always known: it's hard to beat your clean, safe, and friendly streets. You provide for all our needs and desires with your easily accessible stores, great schools, fine dining, and lively entertainment. In all seasons, your parks and open spaces remain beautiful. There may be changes ahead, but we know we can rely on your trustworthy government to make wise decisions and continue to provide services unparalled in other towns of your size. Don't be offended when visitors refer to you as "Loueyville" or you're passed over for your big sister Boulder just down the road. You're special and unique in your own way, and your small town atmosphere is becoming more and more appreciated. Hey, just one request: let's keep those killer sunset views of yours our little secret, OK? Love, Louisville, CO residents Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Buying A Boulder Investment Property: Smart Regs

Ann O'Connell (Real estate agent at Oak Real Estate) — Mon, 11 Jul 2011 10:20:54 -0700

Anyone interested in buying residential real estate as an investment in Boulder, Colorado, should be aware of Boulder's Smart Regs program. Smart Regs is a program unique to the City of Boulder which is intended in part to help reduce the City's greenhouse gas emissions. Smart Regs affects anyone owning residential rental property in Boulder that would require a rental license. There are many nuances and exceptions to the program, so I really can only do a broad brush overview in a blog. Basically, by January 2, 2019, all rental properties must attain a certain number of "points" under the program in order to obtain a rental license. A landlord can obtain points in many ways. For example, points can be gained by installing insulation (one of the biggest point earners), replacing windows, controlling duct leakage, having a whole-house fan, and installing high-efficacy lighting. Although it sounds like a daunting proposition to gain the number of points needed for the program, it's not so bad as it sounds. Many properties will be well on their way already to obtaining the requisite points. It's typically especially easy for condos and other attached dwellings to gain points, as they share walls, which is one of the criteria which can lead to a property gaining more points. On top of that, the date for compliance is far out, so that property owners can budget over the next few years to make alterations to their properties if necessary. As I said, there's much more to this program than what I've described, so my best advice to any potential investor buyers in Boulder is to do some research before diving into the Boulder investment property market. You can visitwww.bouldercolorado.gov/smartregs for more information, or give me a call and I'll be happy to help out with the research. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Buying a House That's Part of an HOA

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 24 May 2011 09:09:32 -0700

Buying a home that is part of an HOA, or Home Owners' Association, shouldnever be taken lightly. It's especially important that first-time homeowners understand fully what they're getting into when the buy a property that is governed by and HOA or other association. Many states have laws governing HOAs and CICs (Common Interest Communities), but even within a state the range of things an HOA can control is across the board. For instance, I live in an HOA where the only common facility maintained by the HOA is a common drainage system. On the other end of the spectrum, though, are HOAs that maintain common or shared amenities such as a pool or common walls, or control everything from the type of roof you can install to the type of grass you can plant. Because HOAs can have such control over your property (and have the power to enforce their rules), you need to be darn sure of what you're signing up for. An HOA can add value to your property, but it can also make life miserable! In Colorado, we have two deadlines in the purchase contract which relate to CIC (HOA)-related matters. The first is a deadline by which the seller will get all the HOA-related documents to the buyer, and the second is a deadline up until which the buyer can opt out of the contract due to something they don't like about the HOA's rules. I'm sure that all agents differ in how they handle these deadlines, but my advice to all buyers is that they carefully read over all the documents provided by the HOA, and that they ask as many questions they can think of about the HOA and its rules prior to the second deadline. And, moreover, my advice is that they communicate directly with the HOA management themselves - not through me. I'm always happy to facilitate conversations, but it's up to my buyers to do their own homework. Every homebuyer has differing views on what they can accept/won't accept in an HOA - what if the HOA board is overbearing and always in your business? What if it's just the opposite, and no one does anything? What is your recourse? What can you do if you just don't like the manager, or if they never respond to concerns? I've been super pleased to be representing some great first-time homebuyers who are doing everything right with the HOA that they are buying into. They have spoken with the HOA manager numerous times. They have reviewed the HOA financials, and have asked questions about past repairs and planned repairs. They have even had the HOA pre-approve their dog as a permitted animal in the complex (imagine moving in and finding out your dog isn't allowed!!). Doing your HOA homework is lot of work, but avoid unpleasant surprises and get it done! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Excited to be at Pedal to Properties in Boulder, Colorado!

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 27 Apr 2011 10:40:40 -0700

I'm excited to share the news that I've moved over to Pedal to Properties in the heart of downtown Boulder. Pedal to Properties is a full-service real estate brokerage whose stated goal is to provide first-of-a-kind service in a way that is both responsible to our community and environment both locally and globally. You can see this goal reflected in the brokerage's clever bike-based logo, and put into action through the cute cruiser bicycles that the company provides to use free of charge to clients, tourists, and visitors. I'm really excited to find clients who want to take advantage of the upcoming beautiful weather and take a cruiser out for a tour! (Of course, the "old-fashioned" car tour is always still available! :) If you're ever out wandering around downtown Boulder, stop in for a visit! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

New Listing In Indian Peaks, Lafayette

Ann O'Connell (Real estate agent at Oak Real Estate) — Thu, 07 Apr 2011 08:37:55 -0700

Located at the end of a quiet cul-de-sac This is what home should feel like: this 4 bedroom, 3 bathroom home on a quarter-acre lot is the perfect home for relaxing and entertaining. With great views of the back range and Flatirons from the living areas, backyard, and master bedroom, it feels like a getaway, but is super close to all that the Boulder area has to offer. All the rooms are well-sized, with designer paint colors and a private layout. A separate study on the main floor lets you escape (to or from!) your workspace. Anyone who's lived in Colorado long enough will appreciate the separate mudroom with laundry off the oversized 2-car attached garage. The seller is offering a $1500 appliance credit if you'd like to switch out the appliances when you move in. Act now to take advantage of the spring blossoming in the landscaped backyard - this home is ready to move into! 121 Overland Ct., Lafayette, CO 80026. 4 bedrooms, 3 baths, 2-car oversized garage, $475,000. For more pictures and information, please visit the property's website here. Hardwoods throughout main floor; kitchen opens onto deck Landscaped backyard with views, privacy Luxury master bathroom Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Interview Other Realtors. Lots Of Them.

Ann O'Connell (Real estate agent at Oak Real Estate) — Thu, 10 Mar 2011 05:41:53 -0800

Message to home sellers: Interview other Realtors. Lots of them. One of the best things to hear when I do a listing presentation is that the seller is interviewing other Realtors for the job of listing their home. Why am I so happy to hear that the potential client is talking to my competition? A seller who interviews numerous agents is a serious seller. They care about hiring the best person to get the house sold. They're motivated to get this done. A seller who interviews numerous agents is a smart seller. They realize that they can learn a lot from speaking with numerous agents - all of us will give away some free nuggets of selling advice. They also realize it is worth their investment of time to speak with various agents and do their due diligence. Selling your home is a big deal - don't just list with the first schmo off the street. A seller who interviews numerous agents is a well-informed seller. After hearing similar evaluations of their home, its likely selling range, and the comps on the market, by the time the seller hires me he or she will have realistic expectations of what the house's positives and negatives are. They'll also have a better idea of how much it will sell for and how long it might be on the market. A seller who interviews numerous agents is a people-savvy seller. He or she understands that they'll be working closely with their agent, possibly for a long time. Here in the Boulder area, we're fortunate that there are many reliable, talented, and knowledgeable Realtors. All other things being equal, a seller might just have to make their choice based on their gut feeling about with whom they'll work best. That's OK! The smart seller knows that the more they get along with their agent, the easier the process will be for all involved. So go ahead, sellers - PLEASE - talk with other Realtors. Do your homework, learn a lot, and ask a lot of questions. And, if possible, interview me last, so we can get the process started right away! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Iron Flats, Boulder

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 16 Feb 2011 09:28:53 -0800

I had the pleasure of showing a townhome for sale in Iron Flats today. I love the vibrancy of downtown Boulder, and think that this is one of the cooler downtown living developments. Built in 2001 and designed by Oz Architecture, this community is just blocks from the Pearl Street Mall, and features a mix of residences and some commercial. Its "commercial centerpiece" is the national headquarters for The Nature Conservancy, and right next door is a pleasant park and outdoor area on the corner of Pearl and Folsom. There are currently 3 units for sale in Iron Flats, ranging in price from $499,000 to $539,000 (1335 to 1679 sq. ft., respectively). Interesting architectural details abound in the complex, and residents enjoy features such as large windows, bridges, and rooftop decks with astounding views. There is also an underground heated garage, and many units have extra storage space. There are few developments in Boulder where you can get this kind of square footage, style, and proximity to the liveliest parts of Boulder! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Valentines' Day Weekend In Louisville, CO

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 01 Feb 2011 05:46:32 -0800

Louisville has some fun events planned for the weekend before Valentines' Day - get them on your calendar now! Friday, February 11, there's a perfect excuse to take your Valentine out on the town a little early: Savor the Favor, an event where participating restaurants have agreed to donate 10% of your dinner bill that night to the Louisville Senior Foundation. The participating restaurants include: the Empire Lounge & Restaurant, Lucky Pie Pizza & Tap House, The Huckleberry, Zucca Italian Ristorante, Taqueria Cactus Wheel, Old Santa Fe Mexican Grill, and Tibet's Restaurant & Bar. Still not sure where I'll end up that night - I love Lucky Pie's fun atmosphere (and the fact that it's right next to Sweet Cow), but my husband is addicted to Tibet's chai. You'll likely see us at more than one place . . . After you're done stuffing your face all in the name of charity, you can roll out of bed Saturday morning and join CBS4 and the Mayor in a Fit 4 Colorado Community Walk. The walk will start at 9 am at John Breaux Plaza and go for 1-2 miles. Sounds like a good warm-up to start burning off all those calories from the night before . . . Boulder County REALTOR www.oconnellhomes.com 303-868-3957

What Does It Mean If the House You're Buying Has A Geothermal System?

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 25 Jan 2011 08:07:02 -0800

I've shown a couple of homes in the Boulder area that have had geothermal energy systems, and, other than thinking, "man, that looks complicated," I haven't known WHAT to think about them. I finally got to learn a bit more about them at today's Mock Realty sales meeting, where Kevin Hatland of Blue Valley Energy here in Boulder came and gave a presentation on what a geothermal system is. Simply put, a residential geothermal system is one possible way of lessening your home's environmental impact by tapping into the Earth's constant temperature to provide heating and cooling to your home. A geothermal system works much like a refrigeration system. A loop of sorts is drilled into the ground either around or below your home, and a water/glycol solution is circulated through the loop by a heat pump. In cold weather, the warmer temperature of the ground heats up the solution (amplified by the pump) to bring heat to the home. In warmer weather, the reverse happens, and the ground's relative coolness facilitates the cooling of the home. Blue Valley Energy's website provides much more detailed information than I can possibly provide about these systems. One thing I do have to mention, though, was that the cost of these systems is not as high as I initially thought - they run approximately $19-35K before various government incentives, varying based on the needs of the individual home. Depending on what type of heating system the house had before, a geothermal system can pay for itself within anywhere from 6-15 years. If you're a buyer considering a home with a geothermal system, consider this energy-efficient solution a bonus. The systems can have up to a 50-year warranty, and are relatively low-maintenance and trouble-free. Add in to that the savings you'll have on your heating and cooling bills and lack of guilt turning on the AC in the summer, it seems you can't go wrong buying a house with a geothermal system! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Going to be a Busy Weekend for Boulder Open Houses!

Ann O'Connell (Real estate agent at Oak Real Estate) — Fri, 21 Jan 2011 07:55:44 -0800

It looks like it's going to be a busy weekend for Boulder open houses! I'll be hosting one at 4650 Greenbriar Ct., and a glance at www.coloprop.com shows over 50 already listed for Saturday and Sunday. If you're looking to find open houses this weekend, I recommend checking www.coloprop.com (scroll over "for sale" and click on "open houses"), Craigslist, and the Daily Camera's open house guide. These tend to be the three best sources for finding open homes in the area. If you find a property you'd like to see but can't make the open house (hopefully because you're out skiing or having fun!), just let me know and I can arrange another time for you to check it out. Or, if do go to an open house but want to go back for a second time, I can also set that up. Happy house hunting! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Boulder Field Trip: Denver Botanic Gardens

Ann O'Connell (Real estate agent at Oak Real Estate) — Fri, 14 Jan 2011 08:29:01 -0800

In the tropical conservatory . . . One of my favorite finds in the greater Boulder area is the Denver Botanic Gardens. In another life I would have been a landscape architect or master gardener, but in this one I'm going to have to settle with the occasional visit to the gardens - which is plenty good enough! If you live anywhere within a 100 mile radius of this place, and are remotely interested in plants, make a point of visiting - it's worth it. In the summer there are numerous gardens in bloom to wander in and out of, and the informative displays help you figure out what those mystery plants in your yard are. One of my favorite gardens is the rock alpine garden, because it amazed me to realize just how much actually grows in high altitude climates. In the winter, you can always visit the indoor displays and greenhouse complex, a cheap alternative to say, Hawaii or Costa Rica. This year I was able to check out the holiday lights display, and now have a new holiday tradition. I've started taking some classes through the gardens' Botanical Illustration program to give the right side of my brain a treat. Before the close of the year, I took an introductory pencil class, and loved it. Yesterday I started a class centered on color and color theory. On the break, I was able to roam around the Boettcher Memorial Tropical Conservatory, taking a 15-minute vacation to the tropics. Next time we have negative temps, I know where I'm heading . . . Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Websites for All Listings

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 12 Jan 2011 07:43:27 -0800

If your home is listed for sale but doesn't have its own website, it may as well not be on the market. A bold statement, yes, but one I firmly believe in. Today, having a website for your listed home is just as necessary as having a flyer out front was 15 years ago. There really are no excuses for not having a website for each listing - it doesn't have to be elaborate or fancy, it takes minimal technical skill, and there are many services out there that are inexpensive and do the trick. A website for your listing can provide more pictures of the property and much more information about the house and the neighborhood than what is in the MLS. It makes marketing of the property through different channels easier as you can simply provide a link to the site. And, most importantly, it engages potential buyers on a deeper level than a one-dimensional MLS listing or flyer can. The look and feel of the website will make the property stand out from other listings, attracting more showings and interest. Having a website isn't necessarily going to make your house sell faster or for more money - you still have to price it right and use the website as one tool in your marketing box. But, used properly, it will put your house in front of more buyers and make it stand out from the rest of the pack, and I consider it a necessity for all my listings. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Snow!

Ann O'Connell (Real estate agent at Oak Real Estate) — Mon, 10 Jan 2011 04:11:29 -0800

With the weather we've been having, this little guy was confused and took a wrong turn on his way to Florida. No doubt now that he's in Colorado . . . Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Boulder Emergency Rooms

Ann O'Connell (Real estate agent at Oak Real Estate) — Thu, 16 Dec 2010 07:25:03 -0800

I recently had the unfortunate experience of having to learn where the nearest emergency room was. After nearly two years of living in my current home, I realized I had a vague idea of where it was, but since I (fortunately) have never had to visit, I couldn't be sure. Take it from me - you don't want to have to learn where the ER is while you're dealing with an actual emergency! Being of the generation I am, the first place I turned to find out where the nearest ER is was the Internet. Amazingly, it was very difficult to figure out where the nearest one was! Hospitals' websites aren't exactly user friendly, and even in researching this blog post I had to dig through multiple pages just to find the darn address. The second place I looked was the phone book, which, again, didn't have the address of the ER - just a number. So, having gone through this painful process I thought I'd provide a list of the ERs I found in Boulder County here. I'm sure I'm not the only new (or old) home buyer who has no clue where the nearest ER is. This may not be an exhaustive list, is subject to change, and is not to be relied on in a life-threatening situation (blah, blah, blah), but hopefully it will help point you in the right direction. If you know of other ERs, let me know. Also, don't forget that there are many urgent care centers out there. Boulder North: Boulder Community Hospital - 1100 Balsam Ave., at the intersection of North Broadway and Balsam. www.bch.org Boulder East: Boulder Community Foothills Hospital - 4747 Arapahoe Ave., at the intersection of Arapahoe and Foothills Parkway. www.bch.org Louisville: Avista Adventist - 100 Health Park Dr., just off Dillon Rd. This hospital has an Ask-A-Nurse hotline to call if you're not sure it's an emergency: 303-777-NURSE (6877). www.avistahospital.org Longmont: Longmont United Hospital - 1950 Mountain View Ave., Longmont.www.luhcares.org Hope you never have to use any of this information! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Even the Today Show Agrees It's Not Worth Your Time To Make A Lowball Offer In Boulder!

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 16 Nov 2010 11:49:22 -0800

On a recent airing of the Today show, a viewer named Lauren from Boulder, CO, e-mailed a question to real estate guru Barbara Corcoran. Lauren asked, "We want to buy a home in Boulder, CO, and I've noticed many properties have been on the market over 60 days. How low of a bid is appropriate on $500,000 house on the market over 60 days? I don't want to bid too high or low." Ms. Corcoran quickly knocked some sense into the e-mailer, saying that deciding to make a low offer based on the number of days on market is nonsense. The best gauge of whether a low offer might be accepted is the seller's motivation. Moreover, in a "rising market" (her words, not mine) such as Boulder, putting in a lowball offer will only result in frustration and having to bid higher the next time around. She recommended 10% as the most under the worth (note she said "worth", not asking price) of the house that you should go. I agree that the seller's motivation is the key factor in whether a low offer is going to be accepted. If a seller doesn't have to sell, they're not going to even bother responding to a lowball offer. As for the suggestion to not go more than 10% under asking, I think that's a good ballpark number for the absolute lowestyou should go in the Boulder market. Even at that point, though, you're risking offending a seller, because we really don't see things selling for 10% under asking much in the Boulder market. I think it comes down to this: if you love a place, don't mess around hoping to get a bargain on it. Have your Realtor help you do your homework in determining what the right price is for YOU. If the home is a stretch and all you can manage is 90% of the asking price, it can't hurt to try. Maybe you can draft a letter to the seller explaining the rationale behind the low offer. But be aware: if you see something you love, you can almost be guaranteed someone else will love it, too. Don't take the chance that they'll love it enough to bid you right out of your dream home. Here's the link to the video (Boulder part starts at about 1:40): http://www.msnbc.msn.com/id/26184891/vp/40213852#40194605 Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Average Days Under Contract In Boulder

Ann O'Connell (Real estate agent at Oak Real Estate) — Mon, 08 Nov 2010 11:22:44 -0800

A question I'm frequently asked is how long it takes for a transaction to close here in the Boulder area. There really is no magic number - the answer is that the amount of time you spend under contract is completely negotiable. That being said, most closings happen anywhere from 30 to 60 days after getting under contract. Cash transactions can almost always close faster than those where the buyers are obtaining financing. That's because in a cash situation, you can close as quickly as you can take care of contingencies (e.g., inspection or survey) and have the cash in hand. Cash purchases create a great negotiating point - since a cash buyer can typically close faster and doesn't have to obtain approval from a lender, sellers may be more inclined to accept an offer below their asking price. When a lender is involved, it's a good idea to discuss with the lender how long they think it will take for the appraisal to go through and for the funds to be made available. If you can start this dialog with the lender before you make an offer, chances are better that you'll have a timely closing. I don't think buyers should be hesitant to ask for a shorter or longer closing time than "normal." You never know what the seller's situation is - they may be relieved to not have to move out in a rush, or, conversely, may be thankful to be rid of the property (and the mortgage) ASAP. The best strategy is to ask for the closing date that works best for you as a buyer, then see if the seller asks you to change it. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

How To Find Boulder County Open Houses

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 13 Oct 2010 11:00:10 -0700

Even if you're already working with an agent, sometimes you just want to go out on your own and wander through some properties. I get it. So, you'd think there would be a centralized place to find a list of all the open houses on a given weekend, wouldn't you? Unfortunately, that isn't the case. There are many good sources for open house information, but there is no one place that all agents and home sellers have agreed they will list the times for their open homes. No need to despair, though - there are some good bets for finding Boulder County open houses besides driving around on Sunday looking for signs. The first place I would look if I were a home buyer is www.coloprop.com, which is the Boulder area's public-facing MLS. Go to the "For Sale" tab at the top left of the page and then click on "Open Houses" for a search form. Another great source is the Daily Camera's online open house finder at http://camerahomes.com/boulder-open-homes/. If you're still into having a hard-copy newspaper in your hand as you drive around town, the Daily Camerafills that need as well: On both Saturday and Sunday the DC puts out an open house quick guide. On Sunday check the real estate section for brokerage's block ads and individual guides. I always advertise my open houses on Craigslist.com, Zillow, and Trulia, too. You can check these before you go out on your house search, but be sure to double check the dates for the opens - Zillow and Trulia in particular are prone to having out-of-date information. If you know of any other good open house sources, feel free to leave a comment and share with the rest of us! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

What a Dream Home Is to Me

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 21 Sep 2010 07:56:54 -0700

One of the perks of this job is getting to visit homes of all types, sizes, and styles. Every home, no matter how humble or grand, has potential: the potential to be upgraded and modernized, the potential to provide its owners with a new lifestyle, the potential to be the first home a new baby lives in, the potential to have a garden to support its owners . . . the list goes on and on. I get excited about potential; I get excited about the new vision of life each home presents to those who cross its threshold. But beyond simple, clear potential, there are dreams, and I visited a dream home today. A dream home to me is one where the builder has made quality the first priority. The quality must emanate from every nook and cranny of the home, and be reflected back to its occupants by the materials used and the layout of the home. A dream home welcomes you and invites you to turn the next corner with eager anticipation of what lies beyond. The finishes are so natural that they become secondary - rather than observe what great tiles are on the walls, you observe what a great bathroom it is. The dream home I was in today was at 772 Circle Drive in Boulder, in my mind one of the very best possible locations in Boulder to live. The lot has 360 degree views from the Flatirons to Fort Collins to Denver, and the builders took advantage of the location, creating a rooftop deck to lounge on and soak up the sun. Countless windows let in light to create a glow off the white oak floors and travertine tiles. Geothermal heating and cooling along with a photovoltaic system lessen the home's impact on the environment. But, most importantly, the home made me want to linger - my ultimate litmus test for quality. The listing agent's description of the home says it best: this home is a work of art. Virtual tour of 772 Circle Dr. Realtor.com listing of 772 Circle Dr. Boulder County REALTOR www.oconnellhomes.com 303-868-3957

Hazards of the Job In Boulder, Colorado

Ann O'Connell (Real estate agent at Oak Real Estate) — Wed, 01 Sep 2010 11:56:15 -0700

Was out previewing properties today, and was denied admittance to one home by these big guys. I wasn't about to argue! Boulder County REALTOR www.oconnellhomes.com 303-868-3957

If I Can Research Properties on the Internet, Why Should I Work With An Agent?

Ann O'Connell (Real estate agent at Oak Real Estate) — Tue, 24 Aug 2010 10:48:53 -0700

I am a do-it-myselfer. I enjoy the challenge of fixing what's broken on my own, of discovering something new, and of finding a good bargain. So I have to admit I get it when people tell me they think they don't need an agent for buying a house. Between being able to search our MLS online, internet postings about open houses, and virtual tours, buyers have so many tools at their disposal, it's easy to start believing you can do it yourself. Too easy . . . because there's a lot more to buying a house than simply finding a pretty one on the Internet. We are seeing a real trend - buyers researching properties on the Internet, attending open houses, and then trying to put in offers on their own in an attempt to save on some commission. Sometimes it works. But more often than not, the buyers' attempt to save a buck ends in disappointment. A couple of weekends ago I saw the perfect example of why you can't always do it yourself. I hosted an open house at an extremely well-priced townhome in a popular subdivision in Boulder. People were literally waiting at the door for me to open it, saying they'd seen it come up on the MLS and couldn't wait to check it out. Unfortunately, their ship had already sailed. Other buyers had already jumped on the property, having had early notice of its being on the market and having seen it before the open house. How could these open house visitors have avoided this disappointment? By having their agent alert them of the new listing and get them into the property as soon as possible to check it out. Your agent alerting you to new interesting listings is just one small example of how working with a buyers' agent can pay off. There are so many other benefits: the agent's knowledge of the market and sales prices, which can help you avoid overpaying; the agent's experience with contracts once you make an offer; the agent's experience in bringing in qualified inspectors and professionals to evaluate the property you're buying . . . the list goes on and on. All things said and done, after negotiating an offer, inspections, appraisals, and mortgage issues, working with an agent will often save you more than you will pay out in commission. It also avoids countless evenings filled with stress and worry over the pending transaction. Buying a house is just not the time to be a do-it-yourselfer - save that for the new kitchen remodel! Boulder County REALTOR www.oconnellhomes.com 303-868-3957