Tag Archives: best time to buy

Best Time To Buy A House In Boulder-When Is Now A Good Time?

By Michael Hughes     October 6, 2010

In today’s competitive Boulder Real Estate market, you need a strategy to be a successful home buyer.  You need to by crystal clear about your finances, your down payment (with documentation of origin), your top priorities in a home, and how hard you are willing to work to make it happen. As a home buyer, you need to be clear about your money, your timing, and your most important features in a home.  Here’s how this breaks down.
You need to learn the truth about Short Sales, REOs and Residential Properties so you can make informed decisions about the offers you make and the approach you take.  Short Sales are unpredictable and have up front waiting periods while the bank considers your offer – it could be 2 – 6 months in some cases.  REOs are in unpredictable condition, often vacant for months and damaged inside and sometimes out. This could affect your budget if there are repairs that need to be made that the bank is unwilling to do.

You need to know that some homes in Boulder are being priced under market value in some cases – creating a feeding frenzy (multiple offers) similar to the chumming scene in Jaws.

Home mortgage interest rates are at an all time low – seriously, they have never been lower in the history of lending. Under 4% are you kidding me? It’s like banks are giving money away to QUALIFIED buyers – people with documented money already in the bank, and money coming in every month, and manageable re-payment obligations (commonly called debt.)

You’re probably not surprised to learn that you are not the only one looking for a great deal – there’s fierce competition for homes under $700K. And it may also shock you to learn that you’ve found a great deal if you can get 90% of what you are looking for in a home.  Regardless of the price range.  Honestly.

So let’s get busy – focus on all the right reasons to buy a home in today’s Boulder Real Estate Market – low low home prices, low low low interest rates, and 300+ days of sunshine every year.  Perfect!  Giddyup Let’s Go!

If you have questions about this article or anything Boulder TEXT or give me, Michael Hughes a call at 303-359-6627 and you can also visit my website or the Boulder MLS.

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Obama signs New Buyer Credit and More… November 17, 2009

By Michael Hughes

Great news for Boulder County real estate. Congress approved the extension and expanded the homebuyer tax credit to further stimulate the housing market. The date has been extended to April 30th, 2010 (originally scheduled to end November 2009). The tax credit requirements have been expanded to include current home owners as well as first time home buyers, and it now includes people earning a higher income as well (up to $125,000 for singles and $225,000 for married couples compared to $75,000 and $150,000).
The tax credit amount can be up to $8,000 for first time home buyers and up to $6,500 for current home owners who decide to move. The amount is determined by the price of the house and by the purchaser’s income. The tax credit applies for homes purchased up to $800,000. There are plenty of homes in Boulder for sale at this price range.
As a current home owner, you qualify for the tax credit if you have lived in the house you now own, for at least five consecutive years within the past eight years. Even if you’ve owned property in the past you may still qualify as a first time home buyer if you have not owned your primary residence for the past three years. Call Michael Hughes to get an honest home evaluation to see what your home could sell for today, and what else is available for you in and around Boulder.
Hopefully the great interest rates we are experiencing will hold. Right now is the best time to buy, and if you need to sell it’s a good time to secure the increased number of buyers out there due to the tax incentives and low interest rates.
Contact us today if you or anyone you know needs real estate help….
e-Mail michael.hughes@sothebysrealty.com Direct 303-359-6627 Website:www.bolderrealestate.com

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