Category Archives: Sotheby’s International Realty

Why the house isn’t selling

Yes there are a few properties still sitting on the Boulder real estate market. Clearly there is something not quite right here.

I have sold luxury homes in Boulder for some time now and I often get calls from upset sellers who are having a tough time selling their property. I get their frustration. Most people start off the conversation with the same question, which is, “Why haven’t we even had an offer on our home?” I have talked about this a lot in my blogs however I think it is worth repeating. It boils down to a few reasons why your house didn’t sell.

  • Did you price it right? All a realtor can do is present the data. It’s your home, and you make the decision on how quickly you want to sell the home. If you ignore good data and price it high, the home will sit, sit, and sit. When you decide to price it right, the home will sell, but the decision is entirely up to you. I provide (data) you decide (the price). I then decide whether or not we are a good fit. I list Boulder real estate to sell not sit.
  • Does your home show well? If it does show well and it is in excellent condition we can move on. I always hire a stager for my sellers, it helps give them an objective eye for the property.
  • Do you have great marketing? Great marketing is multi-pronged with print, internet and creative modes of delivering the property to the market for massive exposure, not only locally but globally. Sotheby’s International Realty is the only true global brand in Boulder.
  •  It’s the first and most important rule of real estate. Location, location, location. If you have a bad location or a challenging location, you may have a difficult time selling your home. The only thing that you can do to fight a rough location is to price the home well below market value. You have to make the price so appealing that a buyer would ignore the setting because the price is so good.

You want to get it right straight out of the gate so all of the above must be in place to super saturate the market with your property. It must be everywhere so that the guy in California who is up at 2am and is nervous about where he and his family are going to live, sees it over and over and over on site after site.

Michael is a longtime resident of Boulder and has been in real estate since the mid 90′s and with Sotheby’s International Realty since their inception in Boulder County and along the front range. About Me 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

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Boulder Buyers Market-R.I.P.

It’s been noted lately that the “inventory for new homes in Boulder is fairly thin.” That is an understatement. I have not seen so few homes on the market since around 1999. I know this because as a Realtor I was also in the market in 1999 for a home for myself and my kids after a divorce. There wasn’t much available. Have you noticed also, that prices in that all too familiar log jam, are starting to break and move up if ever so slightly, much to sellers’ delight.

My theory; the Boulder buyers market as we knew it, is over. Hail in the new Sellers Market. Not that you can overprice and expect to sell quickly, however if you do put a reasonable price on a property you will sell. Condition of course as always must be stellar. Location; the closer to the heart of Boulder all the better.

Like stocks you’ll never sell at the top nor buy at the bottom. That only happens after the curve is established. Boulder real estate has always been a great investment . The average Boulder real estate homeowner who purchased in 2002 gained 28% in equity while those who bought in 1998-2001 have gained about 46% and that in a “down market.”  Mortgage rates have declined over the past 50 years to record lows.

Now is a great time to sell. With the lowest inventories since 1999, record low mortgage rates and demand that is solid, now is the time to sell your Boulder real estate. For maximum global exposure a Sotheby’s marketing plan tailored to your property is the way to go; focusing on “Lifestyle” not bedrooms and bathrooms. Every buyer looks to satisfy a lifestyle, a need for living the reflection of their hopes and dreams. Sotheby’s International Realty is the only website and marketing plan that allows buyers and sellers to search via lifestyle criteria. Sotheby’s is a true International brand and not simply a loose marketing alliance. Consistency yields results.

Michael is a longtime resident of Boulder and has been in real estate since the mid 90’s and with Sotheby’s International Realty since their inception in Boulder County and along the front range. About Me 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

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12 Great Reasons To Sell Your Boulder Real Estate In 2012

  1. The Denver/Boulder area is the #1 place to invest in real estate. Boulder real estate being the tops. View the video from CEO-Greg Rand-OwnAmerica.com
  2. The average rate on a 30 year fixed mortgage has dropped significantly to a low 3.87%.—Associated Press
  3.  The Denver /Boulder real estate home inventory has not been this low since 1999.—Denver Metro Association of Realtors
  4. The number of homes on the market dropped some 30% in November from a year earlier, likely the greatest year-over-year drop in metro area’s history—Inside Real Estate News
  5. Dow at a 4 year high; Nasdaq hits 11 year high—CNN Money.com 2/3/2012
  6. Boulders apartment vacancy rate hit its lowest fourth-quarter level in over a decade at the end of 2011—Denver Post
  7. Inventory available of single family homes in Boulder County in February, 2012 is 69% lower than at the same time 2 years ago; meanwhile luxury home inventory is down 42% in the Boulder area—Inside Real Estate News
  8. Denver/Boulders median list price is higher than the national average—Realtor.com
  9. The Denver/Boulder area has the lowest average days on market of 146 national statistical metro areas—Inside Real Estate News
  10. Denver/Boulder area ranked #1 by Case-Shiller Index and S & P
  11. Denver/Boulder’s population will grow at a faster-than-average rate in 2012, and combined with a tight inventory of existing homes and job growth will boost housing construction—Denver Metro EDC
  12. Low interest rates + low home inventory = Highest price for your Boulder Real Estate.

Low Interest Rates + Low Home Inventory = Highest Price For Your Boulder Real Estate

If you are looking to buy or sell a home in the coming year, allow me to extend my full range of premium services toward your real estate success.

Call 303-359-6627 or visit Boulder Real Estate

Michael grew up near Santa Fe and is a longtime resident of Boulderand has been with Sotheby’s International Realty since their inception in Boulder County and along the front range. About Me 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

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Jobs Equal Healthy Boulder Real Estate

Boulder County is the most educated county in United States. There’s a high percentage of highly intelligent residents, which is its greatest asset for attracting and retaining strong employers and employees. Boulder real estate is healthy, a sure sign of good times coming. It’s all about jobs. Strong jobs equal strong Boulder real estate.

Numerous high tech businesses in the Boulder Valley Corridor are starting to hire. When I asked a local head hunter if there were going to be a lot of out of town people coming in she said “there seems to be a robust amount of talent available in the area right now.” Of course as time goes by the tech area will need more and more talent to feed the demand.

Many high schools in Boulder County offer special programs such as Skyline High School in Longmont that offers the Scientific Technology Engineering and Mathematics (STEM) program, a magnet component that prepares students to excel in science and math related fields. Also with the onset of the International Baccalaureate Program in numerous schools in the Boulder Valley; Boulder schools could help “grow” their own work force and provide opportunities for our children’s future by implementing similar programs in all schools.

Boulder offers a quality of life that attracts and keeps people here. It’s a life that can’t be beat. We love our Boulder real estate and we often come up on lists for a very high quality of life. A lifestyle robust in fitness, with running trails right out our office door,  world class organic food, home grown brews, entertainment, high intelligence, happy people, entrepreneur heaven, skiing and snowshoeing nearby, dog friendly areas and many opportunities to enhance our lifestyle.

Michael grew up near 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 (CNE) Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO. What’s your lifestyle? I take great pride in my in-depth knowledge of Colorado luxury home market trends, research-based pricing strategies, having a powerful network of qualified luxury home buyers, first-hand Boulder real estate insight and proven 16 year track record of selling unique Denver and Boulder luxury real estate.

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Sell Your Boulder Home-11 Tips

1. Hire a Professional Realtor. This is no time to be navigating the rough waters of the Boulder real estate market on your own. You want someone who can help you truly price your home, bring in potential buyers, handle contracts, and market your home to the global masses. You can check to see if there have been any infractions with a Realtor by checking DORA (Department of Regulatory Agencies-Colorado/Search Licensees ).

2. Fully Disclose. Are you selling your Boulder home because it needs more work than you can handle? Are there infestation problems you’d rather not talk about? Whatever you disclose, the Realtor will have knowledge of and must disclose to a potential buyer.

3. Price it Right. Your Boulder home may sell the first week if priced properly and if you have to drop the price the result may be lower in the long run. The longer it’s on the market, the lower the price will be in the long run.

4 . Detach Emotions. This is a business transaction. Keep emotions in check.

5. Be Involved. Hire a local Boulder agent who will communicate with you at least one time per week and gives you regular feedback. Utilize that feedback to make changes or adjustments. Talk it over with your Realtor.

6. Stage your Home. Staging is a perfect way to help buyers see the true potential of each room. Buyers have to understand the purpose of each room and staging can help clarify that. Tone down your own style and pack away any clutter or extraneous decor.

7. Don’t Hang out. During showings or an open house. Resist the urge. This will make it very uncomfortable for buyers. Leave the premises.

8. The Next Step. Get ready because here comes the offer. Renting or buying what is your best option at this point? Start early!

9. Be Flexible. It’s no secret that today’s Boulder luxury and Boulder real estate market can be challenging for many sellers. Don’t compromise on your bottom line, but understand that you must be willing to negotiate.

10. Understand your Marketing Plan. Understand what you are getting for your money. What kind of internet exposure, media coverage and global presence will you get? A marketing plan should be clean, clear and will drive the buyers to your property’s website.

11. Positivity. Don’t get discouraged. A buyer will come.

Michael grew up near 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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New Years Day Trek

Kitchen Mesa rising 600' from the valley

Jocelyn coming up through the narrows on the rope

Every New Year on the 1st of January we do something awesome. Last year it was a Crossfit (OMG) class in the morning. I am very grateful to have a wonderful home on the north end of  Heron Lake in Northern New Mexico so this year it was Hiking Kitchen Mesa at Ghost Ranch, New Mexico with my girlfriend, my daughters and boyfriends. I have two daughters and love them to pieces however it was the best having guys around (the boyfriends).

Michael, Jessica, Jocelyn and Dan-Shock and Awe at the beautiful panoramic view

Everyone was ready to get out and hike a bit after stuffing ourselves for the past ten days and the noteworthy muffin tops arising from the indulgence. Not really. All of the family is in extreme shape enough so to run marathons, salsa dance for hours, hold yoga positions forever, pursue and receive black belts in Muay Thai Kickboxing, Snowshoe for miles at high altitude and keep horses under control, you get the picture here.

Jessica and Dan

We started out at Vista de Brazos  in the pines of Lake Heron and as we drove south and dropped in elevation down to the desert, we started getting into the reds, oranges, yellows, blues and blacks of the massive sandstone cliffs and mesas carved out by millions of years of water, wind and weather. This was the stomping grounds of one Georgia O’Keefe and I could feel her presence as we viewed Pedernal Mesa as it grew bigger and bigger.

Callie coming up through the narrows

We started out on a very slippery slope of ice shaded by the juniper and pinon trees. We broke in to red mud that added about 10 pounds per shoe. Slogged up the canyon and then at the end of a box canyon there was a rope. Hmm? So we pulled ourselves up the rope about 150 feet to the most spectacular views. I could see in every direction. Some views were up to a hundred miles away. Wow. The whole hiking group made it to the top, my girlfriend Jocelyn had minor trepidation about the narrow and very steep passage with the rope but was a trooper to the top.

I ran part of the mesa. It was energizing, recharging and fantastic to have the family along to enjoy this epic hike on New Years Day. The quiet was, positive, all that is and all that will be good, astounding, inspiring. Now I start the New Year rested, energized, focused and with that Never, ever, ever give up attitude that keeps me going in Boulder luxury real estate. Thanks for the great memories family!

Michael grew up near 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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Year of the Dragon-Chinese New Year 2012

Dragons are the free spirits of the Chinese Zodiac. Perfect for Boulder and Boulder real estate. Non conforming, freedom sparks the flame of creativity into the Dragon. Dragons must be free and uninhibited. The Dragon is a beautiful creature, colorful and flamboyant. A Dragon must live in a space that says “I am extremely successful.” An extroverted bundle of power, gifted and utterly irrepressible, everything Dragons do is on a grand scale – big ideas, ornate gestures, big entrances, over-sized hallways, extreme ambitions. However, this behavior is natural and isn’t meant for show. Because they are confident, fearless in the face of challenge, they are almost inevitably successful. Dragons usually make it to the top. However, Dragon people must be aware of their natures. Even though they are willing to aid when necessary, their pride can often impede them from accepting the same kind of help from others. Dragons’ generous personalities give them the ability to attract friends, but they can be rather solitary people at heart. A Dragon’s self-sufficiency can mean that he or she has no need for close bonds with other people. People born in the Year of the Dragon share certain characteristics:  Innovative, enterprising, self-assured, brave, passionate, conceited, and quick-tempered. The Dragons are the free spirits of the Chinese Zodiac. Everything Dragons do is on a grand scale – big ideas and extreme ambitions.   Because they are confident, fearless in the face of challenge, they are always successful.

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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