Monthly Archives: July 2011

Boulder Real Estate

Posted by Michael Hughes

The summer heat permeates my being and my morning runs. I think about what was over there, years ago or what has changed in Boulder. Here,  historically the lowest interest rates & home prices Boulder has ever seen, make now the best time ever to buy. Opportunities available today will not last forever… Much like the stock market you can’t choose the bottom however if the bottom has not already occurred it is near it. John Paulson has repeated over and over ‘buy.’ Who is JP? He is the hedge fund leader who anticipated the coming collapse of the subprime mortgages, shorted them and several billion dollars later he has evolved as the pinnacle of wisdom on housing and mortgages and timing.

I remember coming to Boulder in the late 70’s and thinking how outrageous I thought it was to have to pay $189,000 for 5 acres and a 2400sf ranch surrounded by open space. Brilliant? No. Time after time real estate in Boulder has proven to be a great investment. It is a time tested theory and over time it will test out again and again and again. As long as you’re not using your house as an ATM utilizing HELOC’s or refinancing and removing equity every other year you’re, if not already, going to be golden. Boulder real estate, stronger than ever and becoming more and more extraordinary every day.

Michael is a longtime resident of Boulder and one of FSIR’s most successful Realtors with Fuller Sotheby’s International Realty. If you have questions regarding this article any of the neighborhoods or have any questions about Boulder or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO. 

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When should you pay more than asking for Boulder Real Estate?

Posted by Michael Hughes

Home sales in most of the country are floundering yet in Colorado and particularly Boulder, Boulder real estate is hanging in there. Unlike Detroit or some other areas,  I won’t mention, people actually ‘want’ to live here. We see the healthy lifestyle, coffee, world class dining, convenience, outdoor sports, 300 days of sunshine and a lifestyle to love. Boulder; home to the happiest people on the planet.

Couple that with low interest rates and now you have multiple offers with prices surpassing asking price. This of course will occur when a great listing comes on the market and it’s priced at or under market (did you know you can never price a property too low-the market will bring multiple offers and push it up, often past where the price should be-the market is a force and it is never wrong-I have used this as a strategy and it does work).

Paying over the offer price for Boulder real estate can be a good idea if the property has all the bells and whistles you want and as long as it appraises unless you are offering cash without an appraisal. Make sure it will appraise and that the price can be justified by recent sales activity in the area. Your Realtor can pull all this data together to see if it makes sense.

*Fair market value is the price a willing and able buyer will pay and seller will accept with neither party under undue pressure to act.

The decision of how much to offer should be based on a sound knowledge of market data/values in the area, your personal financial situation and lifestyle goals. If you do choose to pay more than the local comparable sales indicate, recognize that you may not be able to sell for the price you paid right away.

Michael is a longtime resident of Boulder and a Realtor with Fuller Sotheby’s International Realty. If you have questions regarding this article any of the neighborhoods or have any questions about Boulder or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO. 

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The “S” Word is much less impacting than the “F” Word!

Posted by Michael Hughes

“The sclerotic process of short sales will become streamlined in the future. Streamlined meaning will take only 2-5 months.”

Are you late on your mortgage payement(s)? Do you have a hardship? Either medical, divorce, loss of job, family issues or any of the multiple others? Why do a Short Sale? That’s easy because it is 5-8 years less (credit) impacting than a foreclosure. Do you qualify? Call me;  in about 20 minutes I will know whether you have a great chance of qualifying or not. Regular Boulder real estate or Luxury Boulder real estate many are in danger of foreclosing because of financial and other hardship.Do you think this will impact the market for sellers and buyers?

A Short Sale as opposed to a Foreclosure is much more advantageous for the Seller. Credit reports typically show it as “settled.” Any tax implications to the seller/home owner should be reviewed by their independent real estate attorney or accountant. A 1099C may be issued for the short fall and is handled somewhat differently than a 1099. Pre-foreclosure or short sale involves the sale of the property by the borrower to a third party for less than the amount owed (short sale) to satisfy the delinquent mortgage, as agreed to by the lender, investor and the mortgage insurer. I underline investor as this is where most of the delay happens. While this is getting better all the time due to delegated authority to the lender. Short sales are getting faster and there is no reason to go into foreclosure. Together we can explore all options to foreclosure: Refinance, Financial Counseling, Modification, Short Sale, Deed in Lieu and lastly the “F” word Foreclosure.

If you or anyone you know are 30 days or more late on your/their mortgage payment call me or give them my name and number lets see if we’re a good fit.

If you have questions regarding this article or have any questions about Boulder, Boulder real estate or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. 

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Boulder Real Estate-Photography-Visuals-The Basics

Posted by Michael Hughes

It’s clear I am not an expert photographer (which is precisely why I hire a professional photographer, just after I schedule the professional stager for my Boulder real estate listings-visuals are often why they sell faster than the average listing), but if the situation dictated that I had to take the DIY path, I am reasonably certain I would remember to close the lid, move the trash can, and relocate, at least temporarily, the couch potato and his dog (not shown for reasons of privacy). The lighting and the content are so poor in these photos.

Clearly this is a discounted broker doing their own photos of this property. I pity the sellers. Talk about taking the band-aid off one hair at a time!

Call me I can help and if you would like to comment or need help buying or selling Boulder Real Estate or if you are interested in Listing and Selling your Boulder Real Estate in a professional manner, please, TEXT, call or email me. You can also visit me at my Website. Thanks for reading. Michael Hughes at Fuller Sotheby’s International Realty-Boulder, CO

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Boulder Real Estate Negotiation

Posted by Michael Hughes

Negotiation: (Ne goshee aysh n) The reaching of agreement by means of competitive, collaborative or compliant negotiation. The goal to win and control, influence and persuade. The biggest fear of Boulder real estate negotiations by buyers or sellers is that you will be taken advantage of, be rejected or criticized. In other words you will pay too much or sell for too little, give too much or get too little. The trust level in negotiations can be from zero to willing to build, to eager to trust (not recommended). Power can be abused, shared or given away (once again not recommended). The tactics can be intimidation, broken record, take it or leave it, what if and asking why. I always use a combination of competitive and collaborative. Typically gathering information for using or adopting solutions and options. Primary emotions can range from anger, optimism or fear. I come from a firmly grounded desire for my clients, never fear and always emotionally detached. The main method of influencing is self interest (of my clients), sound logic, exchanges, uniqueness, sameness and contrast. The way you create value affects how it gets divided. Focus on the right brain then bridge to the left logic bound side. When you persuade, speak of interest, not reason.

I am a Certified Negotiation Expert in the Boulder real estate market. Always bringing my clients the best of what they want. If you have any questions about negotiation, would like to comment or need help buying or selling Boulder Real Estate or if you are interested in Listing your Boulder Real Estate please, TEXT, call or email me. You can also visit me at my Website. Thanks for reading. Michael Hughes at Fuller Sotheby’s International Realty-Boulder, CO

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Boulder Real Estate-Listing Agent

When choosing a listing agent you should choose the one that best meshes with your personality. Someone you like and trust.

  1. How much? Ask potential agents how much they think they can sell your home for. If two agents say $700,000 and the third says $800,000, think hard. It’s likely the high bid is an exaggeration to attract your business. Also it may be someone new to the business. In the trade it’s known as buying a listing. In the end, you’ll be the one who pays because the high price will have you chasing the market not leading it. Also a great question. What is the Absorption Rate for my neighborhood. In other words how many months of inventory is on the market in my price range and how long will it take to be absorbed if it is priced properly. This will help you understand where the market is headed.
  2. How will you market it? I have numerous ways in which to get the property into the collective consciousness of buyers wanting to buy in your neighborhood. I will also talk about what kinds of people are the most likely buyers and how I will reach out to those specific people. I will show you my marketing plan tailored to your property.
  3. How has your business changed in the last five years? Can you say wired to the teeth. Smart phones, e-blasts, twitter, linked in, numerous syndicated websites. Exposure, exposure, exposure! At Sotheby’s International Realty-Boulder this has brought in numerous international buyers.
  4. Tell me how your last two deals surprised you? I have great success stories and would love to tell you more about these.
  5. How many people are you selling homes for right now and what are you doing for them? It may not be a bad thing that a high-powered agent is juggling 15 homes, but don’t expect him/her to give you personal service, although their assistant should be attentive, you may end up dealing with someone new each time. On the other hand, be wary of an agent with no other customers because they may lack experience and contacts.
  6. What do you expect of me? A good agent will have expectations. They may want you to leave and take the dog when the house is shown, paint the garage, use their stager, move some furniture around and scrub the tile in the bathroom. It shows that they can think like a buyer and that’s a good thing.
  7. What advice would you have for me if I get an offer from a buyer who wants to use an FHA loan? It wasn’t very long ago when the right answer might be run the other way, but these days government-guaranteed financing from the Federal Housing Administration, the Department of Veterans Affairs and state and locally managed loan assistance programs can be key to selling a property. Real estate agents shouldn’t be pushing buyers toward their favorite lenders, but they should be able to help them and you wade through complex financing issues.
  8. What’s your fee?  My price of doing business.
  9. Can I talk to one of your previous clients? I have a list of previous clients upon request.

Michael grew up around Santa Fe and is a longtime resident of Boulder and has been with Sotheby’s International Realty since their inception in Boulder County and along the front range.  If you have questions regarding this article or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO.

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Boulder Real Estate-Buyers Agent

Posted by Michael Hughes

Who I am as a Buyers Agent

1. Honesty and Credibility-You will feel comfortable with me because I will always tell you the truth. I will never sugar coat it. Truth! I will not push you toward undue increases in the amount you wish to spend, however I will help to educate you to how much you can get for your money. I will always tell you the truth. It is your purchase and I can negotiate the pants off any other agent in the business.

2. Area Familiarity-I sell Boulder real estate in neighborhoods all over Boulder County. I know about the schools, local parks, local events, restaurants and the many things that make that neighborhood unique.

3. Good Follow Through-I will always do what I say whether you prefer e-mail, calling or face to face meetings. My buyers know, like and trust me because I always follow through with what I say. I walk the talk.

4. Organization-Having been in business since 1996 I have systems in place and am extremely organized. Which will help you and keep you from redundant tasks.

5. Good Listener-You are human and unique. No two buyers are alike, I do not judge, I do as you wish, find you what you want and never assume anything. That is why I ask a lot of questions to really understand what you want, who you are, your lifestyle, your needs and what you are looking for.

6. References or Testimonials-Upon request.

If you have any questions, would like to comment or need help buying Boulder Real Estate or if you are interested in Listing your Boulder Real Estate please, TEXT, call or email me. You can also visit me at my Website. Thanks for reading. Michael Hughes at Fuller Sotheby’s International Realty-Boulder, CO

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Filed under #1 place to thrive, buy a home in Boulder, buy home boulder, Buying a Home in Boulder, buying a home in Boulder CO, Fuller Sothebys International Realty, relocating to boulder