Prepare a home for sale with computer

Transcription

D OMES
VIRTUAL
istinctive
D O MSTAGING
ES
istinctive
OF THE BOULDER VALLEY
OF
OFTHE
THEBOULDER
BOULDERVALLEY
VALLEY
Prepare
a home for sale
with computer-generated
furnishings, 10B
VIRTUAL STAGING companies combine design and technical expertise to “furnish” a base photo of an empty room with attractive
computer-generated décor.
PHOTOS COURTESY VIRTUAL STAGING SOLUTIONS INC.
A Special Publication of the Section B
Boulder County Business Report Sept. 14 - 27, 2012
2B
View All Our Listings
EvEry HomE is a LANDMARK
HOME FINDING
ASSISTANCE
HOME SALES
& MARKETING
BUYER & SELLER
SERVICES
WWW.COLORADOLANDMARK.COM
RELOCATION
SERVICES
EXQUISITE FAMILY COMPOUND
13160 N. 75th Street, Boulder $2,495,000 | 8,878 sq ft, 5 bedrooms, 5 baths
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$500,000 PRICE REDUCTION
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light, huge wraparound porch, private guest suite, 3 Stall barn/ tack room,
tennis courts, private pool, water rights, and breathtaking mountain views.
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6659 Legend Ridge Trail, Niwot
$2,995,000 | 11,562 sq ft, 6 Bedrooms, 9 Baths
Joel Ripmaster
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Colorado living at its finest! This elegant Niwot home fills every need for
the most discerning buyer. Warm, inviting floor plan, and incredible outdoor retreat with pool/spa. Perfect for entertaining!
SODA FOUNTAIN AND RETRO HOME THEATER IN NIWOT!
Joel Ripmaster
303-641-3377
9253 Blue Spruce Lane, Niwot - $1,799,000
$1,799,000 | 9955 sq ft, 5 Bedrooms, 8 Baths
Finally some true elegance and style! An excellent opportunity to gain
equity and own an essentially brand new luxury home with stunning
finishes and impeccable quality. Set on 1.2 acres with views of open space
and the Colorado mountains.
BOULDER COUNTY’S BEST PRICED LUXURY HOME
8049 Bellflower Court, Niwot
$1,295,000 | 9724 sq ft sq ft, 4 Bedrooms, 8 Baths
COMMUNITY
INFORMATION
Joel Ripmaster
303-641-3377
Far below reproduction costs, far above the competition. This elegant and
light-filled home has spectacular European-style landscaping on a quiet
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cellar, exercise room - this home has it all. Somerset in Niwot is a great
alternative to houses in town and this is undoubtedly the best buy.
Kim Thompson
8605 Monte Vista Ave, Niwot
303-641-2049
$1,490,000 | 7414 sq ft , 5 Bedrooms, 7 Bathrooms
Panoramic snow-capped mountain views of the entire range from this energy efficient home with solid maple finishes throughout! Don’t miss the
secret movie room and hidden kids playhouse! Entertain with an authentic
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seating, concession stand, ticket booth and more! Outstanding!!!
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820 Pearl Street, Unit D, Boulder
$1,365,000 | 2,118 sq ft, 2 Bedrooms, 2.5 Baths
Joel Ripmaster
303-641-3377
Soaring ceilings, contemporary finishes, and sunlight create open airy space
on the coveted West End of Pearl Street. Sunny outdoor space on both levels
with views of the Flatirons. Very open floor plan with main-floor study. Incredible master suite with gorgeous luxury bath . Private 2-car garage.
Serving the Boulder, Broomfield & north metro AreA Since 1977
303-443-3377
303-652-8800
136 2nd Ave,
2350 Broadway,
Downtown Boulder
BOULDER COUNTY BUSINESS
REPORT
DISTINCTIVE HOMES
Old Town Niwot
SEPT. 14-27, 2012
3B
Numbers tell the story
Boulder County, neighbors
help lead housing recovery
W
here, exactly, does the
Boulder market rank
nationally in terms of
the housing market?
As Jeff Thomas notes in this edition of Distinctive Homes of the
Boulder Valley, the Boulder Metropolitan Statistical Area — essentially, Boulder County — has made
steady progress in terms of housing
price appreciation. That’s according
to the latest data from the Federal
Housing Finance Agency.
The Boulder MSA ranks 53rd
nationwide in terms of the annual
percentage change in housing prices
for the second quarter, with oneyear appreciation of 1.47 percent.
During the past five years, the Boulder MSA recorded appreciation of
0.7 percent — not bad for a period
that saw one of the biggest housingmarket collapses in U.S. history.
Elsewhere in Colorado, the
Denver-Aurora-Broomfield MSA
ranked 26th nationally, with appreciation of 2.44 percent in the second
quarter, and depreciation of 4.96
percent over the past five years.
The Colorado Springs market
came in at No. 153 nationwide,
with depreciation of 0.43 percent
in the past year and 11.57 percent
over five years, while Pueblo came
in at No. 251 nationally, with oneyear depreciation of 2.84 percent
and five-year depreciation of 12.85
percent.
Looking north, the Fort CollinsLoveland MSA — essentially, Larimer County — came in just behind
Boulder for the second quarter, with
annual appreciation of 1.44 percent, but with five-year depreciation
of 1.84 percent. The Greeley MSA
— Weld County — showed a strong
rebound, coming in at No. 32 nationally for the second quarter, with
annual appreciation of 2.05 percent, compared with depreciation
of 10.28 percent over five years.
Farther west, the Grand Junction
MSA continues to experience housing-price troubles, coming in at No.
250 nationally and annual depreciation of 2.74 percent in the second
quarter. Grand Junction housing
prices have declined by 23.04 percent during the past five years.
Statewide, Colorado saw housing appreciation of 4 percent during
the second quarter compared with
the same period a year ago, according to FHFA.
(Incidentally, the Cheyenne,
Wyoming, MSA recorded one-year
growth in housing prices of 3.35
percent, coming in at No. 16 nationwide. During the past five years,
Cheyenne recorded appreciation of
PNublisher’s
OTEBOOK
THOSE ARE A LOT OF NUMBERS,
BUT THEY TELL A POWERFUL STORY.
First, Boulder, Larimer and Weld counties have
become strong housing markets once again,
along with the larger Denver-Aurora-Broomfield
MSA to the south. Southern Colorado, including
Colorado Springs and Pueblo, and the Grand
Junction market still are experiencing serious
housing troubles.
PUBLISHER’S NOTEBOOK
CHRISTOPHER WOOD
4.45 percent.
Those are a lot of numbers, but
they tell a powerful story. First,
Boulder, Larimer and Weld counties have become strong housing
markets once again, along with the
larger Denver-Aurora-Broomfield
MSA to the south. Southern Colorado, including Colorado Springs
and Pueblo, and the Grand Junction market still are experiencing
serious housing troubles.
But a lack of significant overbuilding in Boulder County has
helped our market maintain a remarkable strong housing sector,
capable of producing increases in
value even during a period that encompassed the Great Recession. In
Larimer and Weld counties, where
overbuilding was a definite problem, the recovery is well under way,
largely because Northern Colorado
experienced the housing collapse
before the rest of the country. (And
growth in the energy sector has
helped spur a housing revival.)
Local residential real estate
agents now speak with more con-
BOULDER COUNTY BUSINESS REPORT
fidence than they’ve displayed in
several years. Activity has remained
strong in 2012, and most speak of
optimism for 2013.
The numbers, at least this year,
tell a positive story.
——
This marks the year’s final edition of the Boulder County Business Report’s Distinctive Homes of
the Boulder Valley special section,
which will return in March 2013. In
the meantime, be sure to visit www.
distinctivehomesbv.com for all of
our content, as well as updates in
the intervening months. And drop
by our main website, www.bcbr.
com, for the breaking business
news, economic statistics, industry
data and much more.
Have an idea for Distinctive
Homes? Just email or call me at
the contact information below with
suggestions for article ideas, or any
other feature you’d like to see in
print or online.
Christopher Wood can be reached at
303-440-4950 or cwood@bcbr.com.
DISTINCTIVE HOMES SEPT. 14-27, 2012
BS E L L E R S R
ome
HF I N A N C E D
uyers
4B
SELLING
SHORT
Despite new rules, lenders reluctant to participate
By Jeff Thomas « News@bcbr.com »
B
oulder Valley real-estate experts don’t
expect that new guidelines designed to streamline
short sales — in which a home sells for less than a
borrower owes — will have much effect here, unless there’s an abrupt change in direction from major lenders.
“They talk a good talk, at least in the media, but
we just are not seeing any good results,” said Karen
Bernardi about the reluctance of major banks to
participate in short sales. The broker at the Bernardi Group at Coldwell Banker said most of the
major home lenders take far too long to respond
to offers made in good faith, and don’t seem to be
responding to the existing rules designed to streamline the short-sale process.
In August, the Federal Housing Finance Agency
took further steps designed to streamline the process, allowing homeowners with a Fannie Mae or
Freddie Mac mortgage to pursue a short sale even
if they haven’t fallen behind on payments. The new
rules kick in on Nov. 1, but local-real estate agents
are not holding their breaths, given the length of
time it is taking these banks to act.
Mary Arnold, the closing manager at the Bernardi Group, said one submitted offer for a short
sale made last December has yet to be approved or
rejected. And while the Bernardi Group also has
begun submitting the new pre-approval paperwork
for banks, which was also designed to streamline
the short-sale process, she said that is also taking
months to complete.
“We submitted one on the first of July and we
still don’t have any idea what will constitute a good
offer,” Arnold said. “We don’t know anything
more than we would on any (previous) short-sale
submission.”
Banks are under no obligation to accept any
short sale, since it usually results in the borrower
being forgiven for a good chunk of the loan. However, in many more distressed markets, the megabanks have shown a greater liking for short sales,
which can be far quicker than a foreclosure and
result in more money being returned on the loan,
as well.
In some cases, major banks even have been willing to pay homeowners many thousands of dollars
to go through a short-sale process, although that
practice appears to be infrequent and arbitrary. In
the Boulder Valley, the response from major banks
has been slow and arbitrary, Bernardi said.
“It’s different if it’s a local lender, and you can go
in and actually talk to someone,” she said. “If it’s
Chase, Wells-Fargo or Bank of America, you just
never know. It’s quite arbitrary how they respond.”
THE FEDERAL HOUSING FINANCE AGENCY is trying to streamline the process of a “short sale,” in which a home is
priced to sell for less than a borrower owes.
PHOTO BY MICHAEL MYERS
“
lender, and you can go in and
actually talk to someone. If it’s
Chase, Wells-Fargo or Bank
of America, you just never
know. It’s quite arbitrary how
”
they respond.
KAREN BERNARDI
Broker,
Bernardi Group
➤ See Short, 6B
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6B
SHORT, FROM 4B
Lisa Wade, a realtor at RE/MAX of Boulder, said
counteroffers from the lender are a matter of course
with almost any offer and the waiting time doesn’t
appear to be at all tied to whether or not a short sale
is warranted.
“Personally, I think there are more and more people wanting to do a strategic default and more and
more people with reasons they can’t make a payment,” Wade said.
The upturn in the market has made the wait for
any response on a short-sale proposal even worse,
as both appraisers and lenders are dealing with a
hot sales market, as well as the continued refinance
market spurred by low available interest rates, she
said. “We were doing 30-day closing,” Wade said.
“Now, they are taking 44 to 60 days.”
Carrie Nash, sales manager at SWBC Mortgage
in Boulder, said the volume of short sales has been
less in the Boulder Valley than in Adams and Weld
counties, but they may have had a significant impact on home values in some neighborhoods. She
said most of the short sale proposals take from two
to nine months after an offer is made.
“What I see on my side is they will wait and wait,
and then when it gets to my world it’s a mad rush,”
Nash said. “The banks come back after all this waiting, and then say they want to close in two weeks. It
makes it extremely stressful on everybody.”
Although appraisers are not supposed to look at
distressed-home sales, Wade said, often that’s the
only recent data they have in some neighborhoods,
meaning short sales will have a negative effect on
home prices.
“
We submitted one on the
first of July and we still don’t have
any idea what will constitute a
good offer.We don’t know
anything more than we would
on any (previous) short-sale
”
submission.
MARY ARNOLD
Closing Manager,
Bernardi Group
Bernardi also said she thought short sales have
affected Boulder Valley neighborhood markets,
although the effect probably has been limited to
specific areas of Longmont and Erie.
For homeowners wanting to complete a short
sale, Bernardi said, it is very important to look
and work through the options. For instance, going bankrupt before knowing how much is owed
DISTINCTIVE HOMES on a short sale can be a huge mistake, because
the unpaid part of the mortgage would be a new
debt.
“The reality is that people going through a short
sale have to be very careful,” Bernardi said. But the
news isn’t always that bad, she added.
“We actually have been able to sell houses to
people who have just gone through short sales.”
SEPT. 14-27, 2012
7B
RE/MAX of Boulder’s
COLLECTION
Email us today for your private showing: distinctivehomes@boulderco.com
8520 Waterford Way ~ Niwot
1909 9th Street – C ~ Boulder
1301 Canyon Blvd. #410 ~ Boulder
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2917 13th Street ~ Boulder
$1,100,000
525 22nd Street ~ Boulder
$1,399,900
9300 Hills View Drive ~ Niwot
New construction in the core of Boulder at Washington Village offers
a 3 bed, 4 bath home with basement, 2-car garage. Net-zero energy
technology in a gorgeous functional floor plan. (688118)
Modern, yet practical, Gettliffe designed & built in 2007. Situated
below Chautauqua Park & the scenic Flatirons. Near trails & all
things good. Your home search has just been rewarded! (688236)
Beautifully remodeled custom home with upscale finishes of granite,
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by conservation easement. Three-car oversized garage. (688509)
$1,245,000
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Have you mastered the Art of Relaxation? Come up Flagstaff Mtn & find
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7006 Roaring Fork Trail ~ Gunbarrel
Location! Location! This charming 4 bed, 5 bath home has the charm
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True Southwest-style home on a .43 acre lot, perched on a hill
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Live the life of Louisville’s friendly small town atmosphere. Walk-out
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A Boulder Colorado classic! One of the first homes built in the West
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Exceptional home in every detail! Shows like a model! Gorgeous Coloradostyle home with timber, stone & slate accents. Great location in private
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BOULDER COUNTY BUSINESS
REPORTCO 80302-6736
DISTINCTIVE HOMES Boulder,
1.800.825.7000
SEPT. 14-27, 2012
8B
INTERACTIVE
marketing
TOM KAHN, founder and managing broker of Re/Max
Alliance on Walnut, shows off his company’s interactive
WindoVision kiosk at 11th and Walnut streets in Boulder.
The system records the number of touches, garnering 100
interactions per night.
Homes for sale line a two-way online street
By Heather McWilliams News@bcbr.com »
R
ecent Internet and social-media developments have transformed traditional marketing
practices, leaving a remodeled advertising landscape
for many industries. Savvy Front Range real-estate
agents capitalize on this new foundation to build an
unprecedented window into prospective homes for
prospective buyers.
For Re/Max Alliance on Walnut, however, interactive marketing is an actual window.
Brokers at the real-estate office in Boulder have
mixed the traditional photographic display on their
1911 11th St. office with a computer screen allowing customers to select a property, see images, take
a virtual tour or contact an agent.
“The window has become a very smart, tactile
tool for the consumer and a benefit to the seller,”
said Jay Hebb, partner at Re/Max Alliance on Walnut. The system records the number of touches, gar-
BROKERS AT THE REAL-ESTATE OFFICE IN BOULDER
HAVE MIXED THE TRADITIONAL
photographic display on their 1911 11th St. office with a computer screen
allowing customers to select a property, see images, take a virtual tour or
contact an agent.
nering 100 interactions per night, he said.
The Walnut office, founded in 1975 as Walnut
Realty, recently joined forces with Re/Max Alliance,
said Tom Kahn, founder and managing broker of
Re/Max Alliance on Walnut. The union allowed the
agency to blend the Re/Max Alliance presence with
the people, culture and flavor developed over the
years in its same high-traffic address.
DISTINCTIVE HOMES “It’s a very active form of marketing that nobody
else offers because of our location,” said Kahn. Innovative real estate marketing backed with solid
agent follow-up isn’t new to the organization. In
2010 Hebb was recognized on the national stage for
his development of an app that allows consumers to
combine a smartphone’s GPS ability with MLS list➤ See Interactive, 9B
SEPT. 14-27, 2012
9B
JAY HEBB, partner at Re/Max Alliance on Walnut,
developed an app that allows consumers to combine a
smartphone’s GPS ability with MLS listings called iRealty.
“You tap into the map and it will actually drive you to the
property,” Hebb said.
INTERACTIVE, FROM 8B
ings called iRealty.
“You tap into the map and it will
actually drive you to the property,”
Hebb said.
Up to 60 percent of buyers now
use smartphones when house shopping, he said, and the app seemed a
logical step. The consumer response
has been great, Hebb said, because it
allows people to search for properties
in real time while they are moving
through neighborhoods they like.
With most buyers looking at properties online before contacting an agent,
Re/Max Alliance on Walnut also submits properties to more than 100 realestate websites, providing worldwide
exposure, Kahn said, and maintains a
good placement on Google searches.
They also try to keep website content
fresh with regular blogging, new photos and virtual tours.
The uptick in demand for highquality photography and virtual tours
created a niche filled by Colorado Virtual Tours. The company opened in
2005, offering aerial photography of
commercial sites but quickly evolved
into marketing high-end residential
real estate, said Tim Ray, owner of
Colorado Virtual Tours. They now
offer aerial and mid-range photography, 360-degree panoramic shots,
interior photography and night shots
among others.
“We do whatever it takes to come in
and make the property look its best and
help the real estate agent more effectively market it,” Ray said. He works
with a number of Front Range agents,
often as repeat clients. The online nature of today’s real-estate market makes
a quality first look at a home essential.
“The first impression is the online
shot they see, and having that good
first impression is key to us,” Ray said.
Tara Boston, with Keller Williams’
Boston Group in Longmont, agrees
that buyers want online quality.
“If that’s not spot on, then they are
not interested,” Boston said. She uses
social media in a focused approach,
looking to build relationships with
existing clients then draw others in.
“Our business is 92 percent referrals and our marketing isn’t to the
masses,” she said.
In a sea of social media and Internet marketing, hand-written notes still
round out Boston’s strategy because
they stand out and create a personal
touch.
Good old personal connection is
still the basis of her business, but Boston recently began using Zillow.com’s
services. When prospective buyers
click on a Zillow.com property, participating agent names pop up. It’s
where Boston gets the other 8 percent
of her clients, she said.
Blogs packed with fresh content
and an interactive community, both
online and in person, work for his
agency, said Tom Kalinski, owner and
broker at Re/Max of Boulder Inc.
“We see ourselves as a purveyor
of content, and it’s a way of connecting with people,” Kalinski said. “It’s
fairly satisfying because you can get
them to communicate back.”
The agency strives to stock its website with ever-changing information
relevant to the community, such as
links to area schools and information
on community activities.
The days of putting a picture and
an ad in a print publication and then
waiting for a phone call are long gone.
One recent strategy included sponsoring the U.S. Pro Cycling Challenge.
Re/Max of Boulder held a party for
clients during the race’s Boulder stage.
So many people rode over for the event
that bikes filled the Re/Max racks and
spilled onto the lawn, he said.
All this new marketing and information has widened the business and
made selling houses more fun.
“I enjoy this part of the business
more now than I ever did,” Kalinski
said. “You have to know a lot more
about what you’re selling … and online, you can find out about anything
you want.”
The next step could be online marketing videos for high-end properties.
It’s something for which real-estate
consumers are clamoring, said Ray,
and Colorado Virtual Tours created
a branded version of real-estate video
marketing called Make It Life.
“The market is demanding it,”
Ray said. “It’s a great way to tell a
story about a house.”
Award-winning construction
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info@ParrishBuilt.com
SEPT. 14-27, 2012
10B
VIRTUAL STAGING
Now you don’t see it, now you do
By Elizabeth Gold « news@bcbr.com »
A
while back, a friend invited me to
see the house she and her husband just bought. What I saw were tiny rooms,
ugly carpet and a lot of wood that looked like it
had been spray painted by a hyperactive 5-yearold.
She, on the other hand, saw the house as a masterpiece in the making.
Today, the house looks like her vision. Some of
us, however, can’t see that kind of potential without some prompts.
It’s those prompts, combined with a budget, that
ACCORDING TO ROB LARSEN, owner of Rob Larsen
Photography Inc. in Boulder, “Virtual staging is a costeffective way of making an empty house appeal to viewers who are looking online. It’s sometimes hard for some
people to visualize how a space can be utilized.”
Photo by Jonathan Castner
lead some real-estate agents to virtual staging, according to Rob Larsen, owner of Rob Larsen Photography Inc. in Boulder.
Whereas some home sellers post pictures of
properties with current or rented furnishings, those
who use virtual staging rely on computer images to
spice up a room.
“Virtual staging is a cost-effective way of making
an empty house appeal to viewers who are looking
online,” Larsen said. “It’s sometimes hard for some
people to visualize how a space can be utilized.”
Real-estate brokers know that staging is a marketing tool that can increase the appeal of a property for sale. The most basic step in traditional stag➤ See Virtual, 11B
11B
With a little computer enhancement, a room gains tasteful paintings and comfortable-looking furnishings in front of a roaring fire.
PHOTO COURTESY VIRTUAL STAGING SOLUTIONS INC.
The base photo shows an empty room as it is, in preparation for décor added by the virtual-staging
experts.
PHOTO COURTESY VIRTUAL STAGING SOLUTIONS INC.
VIRTUAL, FROM 10B
ing is to de-clutter: Take pictures off the refrigerator
and liquidate the piles of magazines in corners.
After that, adding a chair here or a couch there
could be the add-ons that attract potential buyers
to a showing.
Using computer graphics to create virtual furniture and home decor increases options in how a
room can look as well as how much needs to be
invested in creating that look.
“One client told me she paid $250 a month, and
I’ve heard of it going as high as $500 or $600 a
month,” Larsen said, describing traditional staging
costs, which involve renting the furnishings.
Aside from his photo fee, Larsen’s fee for virtual
staging is a flat charge of $180 to create three different images. He recommends choosing the living
room, kitchen and master bedroom for the project,
pointing out that the digitally altered images go beyond the furniture and include additions such as
curtains, rugs and artwork.
Images come from collections of photos of the
real additions, either from traditionally staged real
estate or rooms that are staged in furniture stores.
“Agents start by telling me what the look and feel
they want is — styles like country, Pottery Barn or
rustic,” Larsen said. “I then shoot the empty rooms
with consideration for the final image.”
His photos accommodate the angles, lighting and
views that match up to the library of virtual furnishings he works with.
Larsen’s photo fees start from $150 to $350, depending on the listing price of a home.
DISTINCTIVE HOMES “Most folks charge on the quantity of photos,
but I’ve found that the best indicator of time it takes
me to produce images is the listing price,” he said.
“The listing price takes into account the amount of
time I put into highlighting amenities and details
that show off the essence of a property.
“A million-dollar house, for example, gets more
marketing dollars by Realtors.”
Virtual staging is better suited for properties that
are less expensive, he added. Smaller mountain
homes tend to be well matched to the benefits.
“Mountain homes are less accessible. People
have to want to make the trip to see them; to have
a reason to see the rest of a property,” Larsen said,
➤ See Virtual, 14B
SEPT. 14-27, 2012
12B
D S A L E S LLoftI V I N G
reen
HListoric
G
IVING
LIVING
istinctive
utdoor
O
D
S TAT S
S
T
Y
L
E
TOKENS OF
APPRECIATION
uyers
esidential
BS E L L E R S RS P O T L I G H T
T ome
istinctive
HF I N A N C E D N U M B E R S
istinctive
THIS MAP SHOWS the four-quarter price change by state, a seasonally adjusted
purchaser-only index. Nationally, price changes showed a 3 percent appreciation from
the second quarter of 2011 to the second quarter of 2012.
MAP COURTESY FEDERAL HOUSING FINANCE AGENCY
Home prices bouncing back, but recovery is slow
By Jeff Thomas « News@bcbr.com »
he good news: Across the nation, home
prices are rebounding.
The bad news: They still have far to go to get to
the standards set before the recession.
Single-family home prices rose 1.8 percent
nationally from the first quarter to the second
quarter of 2012, according to an August press release from the Federal Housing Finance Agency,
or FHFA. The seasonally adjusted index of home
purchases is calculated from sales information
from Fannie Mae and Freddie Mac mortgages.
Closer to home, prices are rising at about that
same rate, which is pretty good news considering
that Boulder Valley home prices came nowhere
near losing as much value as did those in some
parts of the nation.
“Although some housing markets (nationally)
are still facing significant challenges, house prices were quite strong in most areas in the second
quarter,” said Andrew Leventis, FHFA principal
economist. “The strong appreciation may partially reflect fewer homes sold in distress, but declin-
ing mortgage rates
and a modest supply
of homes available
for sale likely account for most of the
price increase.”
That also is what
local experts are seeing in the Boulder
Valley.
Much of the price
appreciation is being seen in states where the
greatest loss in home value occurred, with Colorado being a possible exception. Arizona saw
the greatest gain in the FHFA index, followed by
Idaho, Florida, Michigan, Arkansas, Utah, North
Dakota, Hawaii, Colorado and California.
Of those 10 states, only Colorado and Arkansas have less than double-digit losses in home
values over a five-year period, reporting losses of
3.24 and 5 percent, respectively. In comparison,
Arizona and Florida have shown more than a 40
percent loss of home value during that five-year
period.
Nationally, the index only has rebounded to
DISTINCTIVE HOMES 2004 levels, according to FHFA data — but Colorado appears to be much closer to 2008 levels.
For the second quarter of 2012, Colorado
homes saw a 4.83 increase in value. The Boulder area saw a 1.47 percent increase, which was
preceded by a 2.26 percent increase in the first
quarter, according to the FHFA data. That seems
in line with data from the Boulder Area Realtors
Association, or BARA, which showed strong rebounds in cities that previously had posted some
loss.
According the BARA data, Lafayette showed
the most significant increase at 10.4 percent;
➤ See Tokens, 14B
SEPT. 14-27, 2012
13B
www.rmaonwalnut.com
303.442.3180
1911 11th Street Ste 107
Boulder, CO. 80302
Tom Kahn
303.579.4678
thomaskahn7@hotmail.com
Jay Hebb
303.859.9485
jayhebb@remax.net
Jennifer Egbert
303.619.3373
jennifer@jenniferegbert.com
Jill Grano
303.945.0601
315 Arapahoe Ave
West Arapahoe on the Creek
Minutes to Nederland and Boulder but a
$485,000 2 beds, 2 baths 1332 Square Feet Security, serenity
and stylish living are yours at Shadow Creek. Swimming pool and
Gazebo on site and steps from Eben G Fine Park.
totally private retreat in the heart of 25 forested, meadowed
acreage. Horses allowed. 4 bedroom, 4 baths, over 4400
square feet of high quality finish. Listed at $1,275,000.
1746 Pine St.
Modern Downtown Farmhouse
This classic Whittier farmhouse is newly renovated creating a
unique marriage between old world charm and sophisticated
modern finish. 3 beds / 3 baths : Offered @ $929,000
3981 Promontory Ct.
1035 Pearl St., #501
Boulder’s Only 5th Floor Penthouse
Located along Pearl Street’s most coveted block this chic penthouse is proudly
perched a full story above its downtown neighbors offering unobstructed views
in every direction. 4 beds / 4 baths : Offered @ $2,900,000
2847 4th St.
Wonderland Lake. Contemporary. Gorgeous. Newlands. Triple Lot. Home.
Wonderland Hills Contemporary steps from Lake Trails. Updated
Kitchen and Master Bath set the tone for turning this contemporary
home into a modern marvel.
2235 Linden Ave.
Recently Sold Representing the Buyer
This magnificent home commanded the highest price in the City of Boulder to date in
2012. As a buyer agent, Jill brings outstanding knowledge and resources to her clients
and works tirelessly on their behalf. Listed
at $3,495,000, SOLD
for $3,175,000.
DISTINCTIVE
HOMES
Jill@JillGrano.com
227 County Rd 126 S
Beautiful Newlands Craftsman on TRIPLE LOT! Custom kitchen
cabinets, open floor plan, large bedrooms, large finished basement,
landscaped yard, luxury master bath, and really COOL city views.
675 Iris Ave.
Gorgeous Pocket Listing in Newlands
Style, comfort and attention to detail come together in this brilliantly crafted contemporary home. Please see www.675Iris.com for more information and call Jill Grano at
(303) 945-0601 for for price information or to schedule
a showing.
SEPT.
14-27, 2012
14B
A LOT OF AGENTS POST THE DIFFERENT VIRTUAL LOOKS to show shoppers a variety of potentials, said Dennis Miller, co-founder of Virtual Staging Solutions Inc. He deals with the
concern about deceiving potential buyers by telling agents, “We just show an idea of what it could look like.”
PHOTOS COURTESY VIRTUAL STAGING SOLUTIONS INC.
VIRTUAL, FROM 11B
describing how he first got involved
with virtual staging.
“I saw the service available somewhere, told a client about it, and she
said she’d like to try it.”
The result was three showings a
day.
“It’s challenging to get to remote
properties in places like Nederland
on a dirt road,” he added. “She felt
the virtual staging was driving attraction to this place more than the empty
shell of a home was.
“Agents don’t always want to
make a large investment in properties that are less expensive and if they
charge their clients for staging, those
owners don’t always want to spend
that kind of money either.”
Clearly, the upside of virtual stag-
CLEARLY, THE UPSIDE OF VIRTUAL STAGING IS
that it’s less expensive than renting furnishings. The
downside, however, can be that potential home
buyers sometimes are shocked when they see the real
thing: Empty rooms.
ing is that it’s less expensive than
renting furnishings. The downside,
however, can be that potential home
buyers sometimes are shocked when
they see the real thing: Empty rooms.
“Personally, it seems disingenuous for someone to be upset by that.
Most homes don’t include furniture
anyway,” Larsen said.
One of his clients decided to decrease the surprise, however, by adding a post that the photos were virtual
imaging.
Whereas Larsen describes virtual
staging as a small percentage of his
current work, he admits that he’s yet
to do any marketing of the process.
Dennis Miller, co-founder of Virtual Staging Solutions in Austin, Texas, on the other hand, has created a
business of the process that now has
served more than 5,000 clients internationally.
Miller has combined his background in design with the technical
background of his business partner,
Bryan Bittner, to shape the company.
A lot of agents post the different
virtual looks to show shoppers a variety of potentials, he added.
He deals with the concern about
deceiving potential buyers by telling agents, “We just show an idea of
what it could look like.”
TOKENS, FROM 12B
Broomfield posted a 4.9 percent rise; Erie, 4.3
percent; Longmont, 3.5 percent; and Louisville,
3.3 percent. Boulder and Superior posted declines
of 0.9 percent and 6.8 percent, respectively.
BARA spokesman Ken Hotard said the Boulder
Valley and most of Colorado never went through
the speculative increases that hit other parts of
the nation, such as Arizona and Florida, so subsequently there was never a crash in prices that
came with the onset of the 2008 recession.
“The pricing never really got affected one way
or the other. The pricing reductions that occurred
were at the higher end, and that happened a couple years ago,” Hotard said.
“What we did see was a significant decrease
in volume, and a significant increase in sales of
lower-priced homes.”
That may be particularly true in the city of
Boulder, said Boulder real-estate broker David
Scott, illustrating why a price index may show
a decrease where much of the market actually is
fairly strong.
“There are all kinds of ways to cut the data. The
problem is they don’t show you all the underlying
data,” Scott said. In the Boulder Valley, homes
BARA SPOKESMAN KEN HOTARD SAID THE BOULDER VALLEY
and most of Colorado never went through the speculative increases
that hit other parts of the nation, such as Arizona and Florida, so
subsequently there was never a crash in prices that came with the onset
of the 2008 recession.
priced below $600,000 are showing significant
gains, he said, while the market for homes priced
at more than $600,000 is significantly weaker.
“The luxury market in Boulder is not very
strong above the $1.2 million mark,” he said.
“The truth is there’s still downward pressure
on upper-level market — not at the point of listing, but at the point of sale.”
In resort areas, Scott said that Aspen appears to
be leading the parade in terms of price recovery,
although he hasn’t seen people flocking back to all
the resort areas to buy second homes.
DISTINCTIVE HOMES Hotard noted that the various niche markets in
Colorado make for interesting study, given that
the state has some very rural areas, the resort locations and everything in between.
“I think Denver, in particular, has seen a relatively strong rebound,” Hotard said.
“One of the things I do see in play in Colorado
is (that) even though we do not see significant job
creation, we have seen significant family formation — people moving to Colorado. It has kept
some of that demand in play.”
SEPT. 14-27, 2012
tive
S
RS
CE
OSutdoor
TYLE
esidential
RS P O T L I G H T
istinctive
DN U M B E R S
15B
BREATHTAKING VIEWS can be found in every direction from the fifth-floor penthouse of 1035 Pearl St.
VIEWS IN EVERY DIRECTION
B
oulder abounds with breathtaking views, but few residences offer such views in all directions. This property at 1035 Pearl St., Suite 501, does indeed offer
views of the Flatirons, the foothills, downtown Boulder and the
University of Colorado. The listing for this property describes it as
the city’s only fifth-floor penthouse. The property is located in the
downtown core, with elevator access from Pearl Street, an oversized gourmet kitchen, luxury bath, hardwood floors and private
balconies. It includes three garage spaces, always a plus downtown.
LOCATION: 1035 PEARL ST.,
SUITE 501, BOULDER
PRICE: $2.99 million
SIZE: 4,653 square feet, 3
bedrooms, four baths
COOL FEATURES: This property is just a few doors west
of the Pearl Street Mall and
includes an eat-in kitchen,
A LUXURY MASTER BATH provides views of the historic neighborhoods of downtown Boulder.
THE FLATIRONS are perfectly framed by a window in the
dining room.
THE MASTER SUITE at 1035 Pearl St. overlooks the Boulder historic district.
DISTINCTIVE HOMES separate dining room, open
floor plan, walk-in closet, loft,
sauna, skylights and much
more.
YEAR BUILT: 2005
LISTING AGENT: Jay Hebb,
Re/Max Alliance on Walnut,
jayhebb@remax.net, 303859-9485
Use your mobile device
to access more details
about this property.
A LIGHT-FILLED KITCHEN includes a double oven, island
and stainless-steel appliances.
SEPT. 14-27, 2012
16B
WHAT YOU GET
for $2.5 million
By Elizabeth Gold « news@bcbr.com »
N
ow that Labor Day has
passed and the kids are back
in school, some people are ready to move
ahead with house hunting and house selling.
The variety of area houses in the $2.5 million
range is wide if that’s your market.
Two local real-estate brokers who are listing homes in this category have some advice
to help both buyers and sellers in the process.
Ron McCrimmon, Fuller Sotheby’s International Realty broker, reminds sellers that
you don’t want to be the highest in your market. “Price it right,” he said. “Look around
your area and see what sold.”
McCrimmon, listing agent for a property
at 9405 Memory Lane in Longmont, suggests the same strategy for buyers. “Look at
areas you like and see all the houses there.”
How’s the market right now?
AN 8,388-SQUARE-FOOT HOME at 9405 Memory Lane in Longmont
features 10-foot-high ceilings on the main and lower levels, elaborate woodwork and trim carpentry, and a hot tub.
PHOTO BY JONATHAN CASTNER
THE HOME FOR SALE AT 9405 MEMORY LANE in Longmont abuts farmland and includes extensive landscaping, a swimming pool, a private beach
on Crystal Lake.
“I have a lot of houses in the $1.8 million
to $10 million range, and things were good
up until the recent fires,” he said. “People
thought Colorado had burned up.”
In recent weeks, however, the interest is
returning and sales are picking up again.
Ellen Lutz, Re/Max Alliance Louisville
realtor, advises buyers to focus more on negotiating.
“There are a lot of great properties out
there,” she said. “Make an offer. Don’t be
concerned that the sellers will be offended.
Most are really amenable to that.”
Lutz refers to a property she’s listing —
8600 Baseline Road in Lafayette — as one of
those great properties and one that’s unusual
to find because of its size and its close proximity to downtown Boulder. With 35 acres and
water rights, the house has attracted potential
buyers interested in turning it into a bed and
breakfast as well as an organic gardening farm.
➤ See Get, 17B
RON McCRIMMON, broker at Fuller Sotheby’s International Realty, reminded sellers that they don’t want their listing to be
the highest price in their market.
17B
MILLION, FROM 16B
9405 MEMORY LANE, LONGMONT | $2.49 MILLION
www.coloproperty.com/listing/details/984244
UNIQUE FEATURES
This home and 47-acre lakefront
estate borders Crystal Lake.
INSIDE
SIZE: 8,388 TOTAL SQUARE FEET; FIVE BEDROOMS, SIX
BATHS – THREE FULL BATHS, TWO THREE-QUARTERS AND
ONE HALF BATH.
The house features 10-foot-high
ceilings on the main and lower
levels, an open floor plan, elabo-
rate woodwork and trim carpentry,
wood windows, a bay window, a
hot tub, gourmet kitchen, pantry,
closed-in porch, six garage spaces,
a media room, rec room, a gym off
of the main suite, a luxury bath and
steam shower, walk-in closets, wet
bar, central air conditioning, and
radiant heat.
OUTSIDE
The property includes a
lawn sprinkler system, extensive
landscaping, a swimming pool, a
private beach, storage buildings,
patio, deck, deciduous trees and
native grass. It abuts farmland.
8600 BASELINE ROAD, LAFAYETTE | $2.24 MILLION
UNIQUE FEATURES
The house sits on 35 acres and
is adjacent to open space with
mountain views and water rights.
It’s zoned for horses and abuts
public open space.
INSIDE
The house features three fireplaces, central air conditioning,
baseboard heat and an open floor
plan with pantry and bay window
as well as walk-in closets and
skylights.
OUTSIDE
In addition to a pool and decks,
the property includes a two-bath
guest house, a new electric security
gate, a six-stall barn with tack
room, five loafing sheds, hay storage, a three-space garage and a
lawn sprinkler system.
6,898 TOTAL SQUARE FEET; SIX BEDROOMS; SEVEN BATHS –
FIVE FULL BATHS AND TWO HALF BATHS.
63 BOULDER VIEW LANE, BOULDER | $2.5 MILLION
UNIQUE FEATURES
This contemporary/modern
style, bilevel house is adjacent
to Mount Sanitas, with a one
minute walk to the trail. It features
panoramic views and is a short
distance from downtown Boulder.
INSIDE
The house has been remodeled and includes steam showers,
custom cherry cabinets, solar hot
water and solar electric panels
placed on a new roof. It has central air conditions, forced air heat,
hardwood floors and skylights.
OUTSIDE
It sits on a .62-acre corner lot
and includes a deck, patio and
double-vehicle garage
4,741 TOTAL SQUARE FEET; THREE BEDROOMS; FOUR BATHS
– THREE FULL AND ONE HALF BATH.
13497 DARBY LANE, LONGMONT | $2.3 MILLION
www.cohomefinder.com/p/80504/1129425-13497-Darby-Ln-Longmont-CO-80504.htm
UNIQUE FEATURES
This custom ranch-style home,
tucked away in a private eight-acre
setting, is owner built and was
owner occupied.
6,507 TOTAL SQUARE FEET; SIX BEDROOMS; SEVEN BATHS
– TWO FULL BATHS, TWO THREE-QUARTER AND THREE HALF
BATHS.
INSIDE
The house includes alder and
cherry cabinetry, 8-foot-high doors,
and ceilings that range from 10 to
17 feet high. In addition to central
air conditioning and forced-air
heat, it features an eat-in kitchen,
open floor plan, a pantry, wood
windows, a wet bar and a media
room.
OUTSIDE
It has a walk-out basement,
five-vehicle heated garage, lawn
sprinkler system, patio and deck
9455 CRYSTAL LANE, LONGMONT | $2.5 MILLION
UNIQUE FEATURES
The house sits on 10 acres and
includes lake rights.
8,814 TOTAL SQUARE FEET; FIVE BEDROOMS; SEVEN BATHS
– TWO FULL BATHS, THREE THREE-QUARTERS AND TWO HALF
BATHS
INSIDE
The house features a gourmet
kitchen with a walk-in pantry, alder
cabinets, an elevator to a walkout
basement, a rec room, wet bar,
wine cellar, media room, air conditioning, forced-air heating and four
fireplaces.
DISTINCTIVE HOMES OUTSIDE
The property includes a
wrap-around deck, professional
landscaping, a five space heated
garage, lawn sprinkler system,
balcony, patio, deck, deciduous
trees and native grass.
SEPT. 14-27, 2012
18B
MARKET ANALYSIS - ACTIVE LISTINGS VS. SOLD
Jan. 1 - Aug. 31, 2012
Price
Type
Boulder
Broomfield
Lafayette
Active Sold DOM DOM Active Sold DOM DOM
Active Sold
Active Sold
Suburban
Plans
Active Sold DOM DOM Active Sold DOM DOM Active Sold DOM DOM Active Sold DOM DOM
Active Sold
Active Sold
Active Sold
Active Sold
Active Sold DOM DOM
Active Sold
S.F.D.
17
124
86
398
56
66
31
151
95
90
222 400
101
16
98
40
74
97
81
199 165
65 196 113 111
534
1428
111
A.H.
150 400 125 131
50
146
73
117
22
92
65
90
57
183 135 119
5
28
75
83
1
1
23
32
317
921
146
400,000 -
S.F.D.
114 352 118 127
70
166 139 101
20
86
107 143
45
76
190 108
220 168
799,999
A.H.
54
72
222 252
0
1
0
168
0
0
0
1
800,000 -
S.F.D.
75
99
213 165
15
3
254
58
5
5
5
4
1,299,000
A.H.
16
10
285 360
1
0
6
0
0
0
0
0
0
0
0
1,300,000 - S.F.D.
46
35
171 237
3
0
216
0
0
0
0
0
2
0
Plus
A.H.
13
7
174 612
0
0
0
0
0
0
0
0
0
0
Sub-Total
S.F.D.
252 590
174 567
56
242
Sub-Total
A.H.
233 489
51
147
22
92
485 1079
225 714
78
334
0
0
168 113
80
Total Total Sold
Active Sold Aug.
399,999
S.F.D.: Single Family Detached
58
Mountains
Close in
Louisville
0-
Grand Total S.F.D & A.H
104
Longmont
196 144
22
82
81
54
60
0
3
0
212
0
0
449 491
5
6
58
91
25
14
0
0
0
0
0
0
0
0
236
0
0
1
0
95
27
2
0
0
0
0
0
0
0
0
274 480
43
187
57
184
5
31
331 664
48
218
0
72 104
0
1010
180
4
2
113 161
58
79
6
57
45
236 170
187
176
38
0
0
0
17
10
1
243
0
74
14
152
52
3
0
0
0
0
13
7
1
0
123 194 154 145
0
239 118
230 151
1
71
0
307 319
0
0
319 449
873
2666
332
36
405
1017
154
1278 3683
486
1
231 152
0
73
355 522
Prepared by David W. Scott
Scott Group at Colorado Landmark, Realtors
Data supplied by IRES & Metrolist Multiple Listing Services
D.O.M.: Days on Market
A. D. : Attached Homes
David W. Scott
303-443-5163 (o)
303-588-8358 (m)
dwscott@coloradolandmark.com
www.boulderrealestateinfo.com
as
43
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DISTINCTIVE HOMES www.alliancebizpubs.com
SEPT. 14-27, 2012
e
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i
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Lookingfora Dis
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19B
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303.443.6161
facebook.com/fullersothebys
19 Arrowleaf Court, Boulder
Exceptional home minutes from downtown Boulder. A truly
unique residence w/strong contemporary lines and materials.
Timeless outdoor beauty that nature provides. $7,900,000
Jason Kloss 720.253.6244
fullersothebysrealty.com
4322 Sunshine Canyon Drive, Boulder
Sited on 40 acres of breathtaking Sunshine Canyon forestry.
Crafted from natural stone drawn from the surrounding
terrain. Meticulously designed landscape. $6,000,000
James Simpson 323.819.6632
5860 Boulder Hills Drive, Longmont
French style home w/4 bds, 5 baths, over 8,000 sf. State-of-theart stables host 10 horses & 6 paddocks. Irrigated 40 acres incl 24
shares of Left Hand Ditch + George Maxwell Spring. $5,995,000
EquEstrian EstatE
1256 Riverside Drive, Lyons
Middle Fork Ranch - 300+ acres of heavily wooded sloping
terrain, steeped in rich history. Exquisite vistas, stunning
landscape, contiguous to National Forest. $4,200,000
26801 Perseverance Trail, Golden
Colorado Lodge style home on 10 acres in a private gated
enclave just 15 minutes from downtown Golden. Walking
distance to White Ranch Park with miles of trails. $1,699,000
Linda Scaglia 303.859.4698
9405 Memory Lane, Longmont
New Mission style lakefront estate home on private 47-acre
Crystal Lake. Extreme custom! Ranch style, swimming pool,
hot tub, extensive landscaping, private beach, more. $2,490,000
Ron McCrimmon 970.214.2763
8374 Larkspur Road, Boulder
Luxury custom 4 bd, 4.5 bath. Mountain Living close to
town with views. Stunning entry, 8-foot waterwall, Italian
lighting and mosaic floor, maple cathedral ceilings. $899,000
Carrie Host 303.817.8333
749 15th Street, Boulder
The elegance of past generations w/modern updates in this
updated 1920s home! Grand rms, great light & oversized gated
lot in one of the nicest neighborhoods in Boulder! $2,450,000
Jason Kloss 720.253.6244
510 S. Snowmass Circle, Superior
Character and ambience in beautiful, well maintained home in
Rock Creek Ranch with 2 community pools, 12 playgrounds,
27 miles of paths, 594 acres of community open space. $639,000
Michael Hughes 303.359.6627
salE PEnding
1207 Peakview Circle, Boulder
Magnificent views from every window in this 3.4-acre property
in Boulder Heights. Home sits high in the treetops w/exquisite
views of the Continental Divide. Energy efficient. $499,000
Marie Jacobs 303.919.4122
5240 Bella Vista Drive, Longmont
Beautiful ranch home in Renaissance has open flr plan w/9 ft
ceilings, and 12 ft ceilings in great rm. Trex deck and flagstone
patio w/built-in gas firepit. Built-Green for efficiency! $449,000
Michael Hughes 303.359.6627
3701 Arapahoe Avenue C-313, Boulder
No-maintenance lifestyle, 30 min to slopes. 3rd flr, 1 bd, 1 bath,
sunny unit w/deck. Gourmet kitchen, front-load W/D, rooftop
pool/hot tub, huge gym. Best garage space/storage! $315,000
Carrie Host 303.817.8333
1050 Walnut Street, Suite 100, Boulder • 303.443.6161 • fullersothebysrealty.com
Other Locations:
Downtown Denver
Cherry Creek
Denver Tech Center
Evergreen
Castle Pines Village
Vail Valley

Prepare a home for sale with computer

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