At Home Colorado: Boulder County

REAL ESTATE

Real Estate News, Open Home Listings, Homes for Sale, Rentals and More!

BOULDER COUNTY

Fall in Love With Your New Home With Brookfield Residential

Open Homes and Virtual Tour Quick Guide

What Credit Score is Needed to Buy a House?

The Final Walkthrough Before Closing: Checklist and Tips

Looking for a home? View comprehensive listings of local virtual tours and open houses taking place from all across the area.

Credit score plays a significant role in the ability to buy a home, but the necessary minimum can vary depending the type of loan and intended down payment.

It’s your last chance to view a home prior to closing and ensure that it’s in the agreed upon condition. Make sure you don’t miss anything with this checklist.

October 8-9, 2021

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REAL ESTATE

COLORADO HOME AND REAL ESTATE

ATHOMECOLORADO.COM CONTRIBUTING WRITERS Tom Kalinski Duane Duggan Sharon Bokan Wendy McMillan Katie Laughridge Ilyce Glink Samuel J. Tamkin Mary Lynn Bruny Erik J. Martin Paul F. P. Pogue ADVERTISING CONSULTANTS Thais Hafer Toni McNeill Mary Romano MANAGING EDITOR/ DESIGNER Greg Stone

EDITORIAL

At Home Colorado is a weekly publication designed for the Colorado home and real estate community. The Boulder County edition publishes Friday in the Boulder Daily Camera and Saturday in the Longmont Times-Call.

The Northern Colorado edition publishes Saturday in the Greeley Tribune and Loveland Reporter-Herald. Submit news releases and articles to: gstone@prairiemountainmedia.com.

ADVERTISING

To advertise in At Home or to promote your virtual home tour visit AtHomeColorado.com/Advertise, call Thais Hafer at 303.473.1456, Toni McNeill at 303.684.5329 or Elvonney Poole at 970.392.5645.

At Home is an advertising feature of the Boulder Daily Camera, Greeley Tribune, Longmont Times-Call and Loveland Reporter-Herald. ©2021 Prairie Mountain Media.

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AT HOME COLORADO

What Credit Score is Needed to Buy a House?

With all the focus on credit scores, do you wonder what a good credit score to buy a house is?

While a wide range of credit scores can be

BY TOM acceptable, the KALINSKI higher your RE/MAX of Boulder credit score, the better your loan options and rate will be.

Most lenders agree: the minimum credit score to buy a house for most loan types is 620, according to Investopedia. For some government-backed loan types, the minimum credit score needed to buy a house is in the 500s.

Determining what is a good credit score to buy a house While the minimum credit score to buy a house ranges depending on the type of loan you take out, if you want the best loan options and a lower interest rate, a good credit score to buy a house is 740 or more. Borrowers with a credit score of 740 or more will be rewarded with the lowest interest rates. Conversely, buyers who qualify with lower credit scores may be quoted higher rates and be required to make a larger down payment.

A credit score tells the lender the estimated risk that you won’t repay the loan. According to Rocket Mortgage, your credit score is based on: • Payment history • Amount of money owed • Length of your credit history • Types of credit used • Pursuit of new credit Minimum credit score to buy a house by loan type FHA loan If you have a credit score in the 500s, you should look into a home loan insured by the Federal Housing Administration.

The lower your credit rating the higher your down payment will need to be. A credit rating of 500 to 579, requires a 10% down payment; if your credit score is 580 or higher, your down payment will need to be at least

3.5%.

According to Ellie Mae, the average Fair Isaac Corporation (FICO) score for home buyers with FHA loans was 680 for the 6-month period ending June 2020.

Conventional loan A conventional loan isn’t backed by a government agency, according to Nerdwallet.com.

Conventional loans often meet the down payment and income requirements set by Fannie Mae and Freddie Mac, and conform to the loan limits set by the Federal Housing Finance Administration (FHFA).

What credit score is needed to buy a house with a conventional loan? You may qualify to get a conventional loan with a credit score as low as 620, but these mortgages often require higher scores. Ellie Mae data shows credit scores for home buyers with conventional loans averaged 756 for the 6-month period ending June 2020, reports Nerdwallet.com.

Higher credit scores can also help lower the cost of private mortgage insurance (PMI). PMI is required when the down payment is less than 20% of the purchase price.

VA loan VA loans are mortgages guaranteed by the Department of Veterans Affairs. They don’t have a government-set minimum credit score to buy a house, as long as you are a veteran, on active military duty or an eligible spouse. But a credit score of at least 640 will help you get the loan.

USDA loan A USDA home loan – issued by the United States Department of Agriculture – is a zero down payment mortgage for eligible rural homebuyers. Like VA loans, USDA home loans don’t have a set minimum credit score. A score over 640 could be eligible for streamlined credit processing.

Jumbo loan If you want to take out a jumbo loan that enables you to borrow more than the

conforming loan limit set by the Federal Housing Finance Agency (FHFA), most lenders require a credit score greater than 700 or even 720, according to Nerdwallet.com.

The 2021 loan limit on conforming loans is $548,250 in most areas and $822,375 in highcost areas.

The 2021 loan limit on conforming loans is $548,250 in most areas and $822,375 in highcost areas. According to FHFA, the Fannie Mae and Freddie Mac maximum loan limits for mortgages acquired in 2021 for Boulder County properties are: • $654,350 1-unit • $837,700 2-units • $1,012,550 3-units • $1,258,400 4-units One of the most important steps in the process of buying a house is getting a periodic credit report to make sure it is at least the minimum credit score to buy a house – the magic 620. To keep your credit score high, you should pay your bills on time every month, maintain low credit card balances, keep credit cards open, pay off debt when you can and avoid opening new lines of credit.

If you are considering your options, a Realtor knowledgeable about your area and familiar with various mortgage types can help guide you in the right direction.

For more information on mortgage types, see nerdwallet. com/article/mortgages/whatsexact-credit-score-need-buy-home _________ Tom Kalinski is the broker/owner of RE/MAX of Boulder, the local residential real estate company he established in 1977. He was inducted into Boulder County’s Business Hall of Fame in 2016 and has a 40year background in residential and commercial real estate. For questions, e-mail Tom at tomkalinski33@gmail. com, call 303.441.5620, or visit boulderco.com.

BOULDER DAILY CAMERA / LONGMONT TIMES CALL

ASK ANGI

Paul F. P. Pogue, Ask Angi (TNS)

How should I clean for houseguests?

When cleaning for surprise guests, prioritize the most important tasks and areas first. (Dreamstime/TNS)

Sometimes you have fair warning when guests are coming over, such as for major holiday events. Other times people drop in with little or no warning.

Whatever the case, you want your home to make the best impression.

If you’re short on time, here are some tips on how to quickly prep your home for maximum comfort and give your guests a great experience. Fear not — you can accomplish quite a bit of cleaning in a short amount of time if need be!

— Walk through your house and think like a visitor. What are the things you notice first that might not look so great?

Pay special attention to common areas, guest bedrooms and bathrooms.

— Prioritize what needs to be cleaned first. You can always close the door to your home office, your own bedroom and other areas guests aren’t likely to wander.

— Be aware of your guest’s needs. For instance, if they have allergies to particular scents, avoid cleaning materials that use them.

— Wash all the bedding and other linens in the guest rooms.

— Wipe down commonly touched surfaces such as countertops, doorknobs and light switches. For the best results to get rid of germs and viruses, use a two-step process. Clean with soap and water first, then disinfect using a bleach or alcohol solution.

Store-bought alcohol wipes are good for the second step.

— Give your oven and refrigerator a good cleaning. The oven will probably get a lot of use, so you want to make sure it’s in the best order. Remove all outdated food from your fridge to make room for leftovers.

— Check all your bulbs, indoors and out. Sometimes it’s easy not to notice a burned-out bulb in an area you can walk through with your eyes closed, but your guests won’t have that familiarity.

Prep the bathroom You want your bathroom(s) in particular to give your guests a good impression. Give each bathroom they might use a good wipe-down, particularly the toilet, shower basin, sink, floor and fixtures.

Make sure the supplies are up to date. Clean expired medicine

from the cabinet. Make sure soap, towels, shampoo, conditioner and a hair dryer are available.

Stock the cabinet and sink with commonly used items such as toothpaste, toothbrushes, disposable razors, feminine products, allergy medication, overthe-counter painkillers or cotton swabs.

Leave room for your guest’s stuff. An empty, flat surface will be perfect for their own toiletries.

If you lack the time yourself, you can always hire a professional housecleaner for the job.

Housecleaning services cost between $40 and $80 per hour, per cleaner, and the average one-time job runs between $150 and $200. Keep in mind you might have a hard time getting a housecleaner on short notice if you don’t have an existing relationship with one, and could pay a premium for same-day scheduling.

Tweet your home care questions with #AskAngi and we’ll try to answer them in a future column.

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October 8-9, 2021

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REAL ESTATE NEWS

WK Real Estate welcomes Kristine Coughlin

Kristine Coughlin, Broker Associate, WK Real Estate

BOULDER – WK Real Estate has announced the addition of the newest Broker Associate, Kristine Coughlin to its Boulder office.

Having lived in Boulder for 15 years, Kristine has an intimate knowledge of the local real estate market and will work tirelessly to transform your visions into reality. With great patience, attention to detail, and a natural ability to listen and connect, Kristine partners with her clients seamlessly guiding them to the best possible lifestyle.

With years of experience in advertising, marketing, retail, and design, Kristine has the ability to see the beauty of spaces through a functional design lens. She helps clients view the practical considerations in buying or selling a home, in addition to the lifestyle that the location and amenities of a home provide. Kristine strives to help ensure each client fully understands the best options available to them.

Kristine Coughlin can be reached at 720.217.7164 and via email at kcoughlin@wkre. com.

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CSU EXTENSION

Planning a Windbreak ponderosa pines are good trees for a windbreak and should be planted 10’ to 16’ apart.

Deciduous trees that make good windbreak trees are bur oak and hackberry. The distance between rows is between 8- and 20-feet depending on whether you will be using mowing or cultivation equipment between the rows for weed management. If you are using equipment, the distance should be width of the Single row blue spruce windbreak, planted as seedlings sixty years ago equipment plus 4-feet.

Windbreak plantings need to be watered for tallest plant (mature height Sharon Bokan, Small Acreage at least the first year to get them not planted height) in length Coordinator, Colorado State established. Mulch can help and continuous to be effective.

University Extension Boulder hold soil moisture.

Windbreaks provide reduced County Plan your windbreak now so windspeeds 2 to 5 times the that you can take advantage of height on the windward side As we head into the windier two opportunities to purchase and hopefully snowy time of the and 5 to 10 times the height your trees and shrubs. Seedling on leeward side. For example, year, now is the time to make and smaller trees and shrubs if the trees in your windbreak plans to plant a windbreak on can be ordered and directly will be 30’ tall at maturity, your small acreage next spring. from the Colorado State the windbreak rows should be Windbreaks make your yard Forest Service Nursery csfs. planted 60- to 150-feet away less windy, prevent snow drifts colostate.edu/seedling-treefrom the driveway or structure. across the driveway and in nursery/ in Fort Collins or the They provide protection from corrals, prevent soil erosion, Boulder Valley and Longmont 150- to 300-feet on the leeward provide protection and shade Conservation Districts side of the windbreak. for your livestock and provide Windbreak plants can include longmontcd.org . They order wildlife habitat. In our area, the trees from the Colorado deciduous trees and shrubs, but windbreaks should be planted State Forest Service Nursery and they should include conifers to on the north and west sides be most effective. Conifers work bring the trees to the county of a property to block our for pickup. Both organizations best for windbreaks as they winter winds. The principle start taking orders in the fall for provide the dense year-round behind windbreaks is the trees spring pickup. The plants are foliage that makes a windbreak and shrubs are a barrier for available in various size pots or effective.

Windbreaks should be the wind slowing it down at least one row but can contain bare root and come either singly and allowing soil or snow to or in bundles of 25 plants. more than one row depending drop out. By slowing the wind on space. If you only have velocity, they also protect soil Colorado State University space for one row the best tree from erosion.

Extension, together with Boulder is a conifer tree.

Additional Windbreaks should not be County Parks and Open Space, rows can be added depending planted directly next to the provides unbiased, research-based on space, your reason for the area you are trying to protect.

They must be planted a distance windbreak. Deciduous trees and information about consumer and family issues, horticulture, natural shrubs can be used in multiple away allowing for the dust row windbreaks and for wildlife resources, agriculture and 4-H or snow to drop out prior to youth development. For more habitat. the driveway or building. The information contact Colorado Shrubs that work well in a windbreak needs to be placed State University Extension at the windbreak are shrub junipers, back two to five times the Boulder County Fairgrounds, 9595 tree height at 20 years of age lilac, sumacs, Nanking cherries, Nelson Rd., Box B, Longmont, (usually from 20’ to 50’ tall) native plum and chokecherry.

303.678.6238, e-mail comeara@ away from the driveway or They should be planted 4- to structure. Windbreaks need to bouldercounty.org or visit ext.

6-feet apart. Rocky Mountain be 10 times the height of your colostate.edu/boulder. juniper, Eastern red cedar and BOULDER DAILY CAMERA / LONGMONT TIMES CALL

19 Years

of Boulder County Gold Awards!

305 Quebec Avenue New Listing!

Great townhome in Longmont! www.305.wkre.com Barry Remington: 720-373-9297

Longmont $324,669

536 Collyer Street Longmont 403 Canyonlands Street New Listing! $825,000 New Listing!

Charming Old Town Longmont Victorian.

Spectacular Mountain Views!! www.536.wkre.com www.403.wkre.com Cristina INA Sajovich : 970-306-912 Lisa Rice: 503-336-0778

Berthoud $490,000

1850 Folsom St, #704 Boulder 720 16th Street #220 Denver 2760 S. Perry Street Denver New Listing! $425,000 New Listing! $299,000 New Listing! $575,000 7th floor southwest facing 1 bedroom condo.

Modern Condo in Heart of Downtown Denver! Charming Harvey Park Brick Ranch. www.1850.wkre.com www.720.wkre.com www.2760.wkre.com Joyce Pollich: 303-249-6501 Lauren Jensen: 303-868-6445 David Vincent: 720-234-3383

6701 W. 20th Street Road Greeley 825 St. Andrews Lane Louisville 19435 E. Mann Creek Dr #A Parker Under Contract $499,500 Under Contract $869,000 New Listing! $379,000 Rare opportunity for Large Lot in town!

Remodeled 4 bed, 3 bath home in Coal Creek. Stroh Ranch crisp and clean condo! www.6701.wkre.com www.825.wkre.com www.19435.wkre.com Jenny Oliveira Getting: 970-534-1188 Andria Allen: 3 03-810-8375 Dene Yarwood: 303-808-0076

VIEW THE ENTIRE MARKETPLACE INVENTORY OF LISTINGS ON WKRE.COM BOULDER OFFICE: 303.443.2240 LONGMONT OFFICE: 303.776.3344 wkre.com October 8-9, 2021

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STYLE AT HOM3E:

Fall trends 2021: polka dots and pampas Katie Laughridge Tribune News Service(TNS)

Pampas grass is a stunning (and fluffy) addition to your foliage collection that brings to mind a bountiful harvest and swaying pastoral waves of grain.

(Karlyn Kubin/TNS)

With each season comes new fashions at our favorite boutiques, new menus at our go-to restaurants and new decor trends with which to fill our homes.

Everyday decor styles are forever ebbing and flowing in and out of vogue. While New Traditional design stays constant for the most part — it is timeless, after all — certain styles rise in popularity and start to trend. Sometimes trends seem to appear overnight and at other times they seem to reinvent themselves throughout the seasons.

One of the trends carrying over from warmer months: the ever-nostalgic and fun polka dots. They’ve been around a lot longer than the last six months.

They were introduced to garment fabrics in 1857. Given that they remain a fan-favorite, it’s easy to see these playful dots are always evolving. We started the summer with oversized polka dots on our

Steve Altermatt R

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$1,500,000

639 Arroyo Chico

$1,150,000

5469 Seneca Place

Remodeled 4BD, 2.5BA, 2,148 sf, 4-level in Keewaydin Meadows with open concept on the main level. Kitchen with big center island, cherry cabinets, quartz countertops, and ss appliances. Close to East Boulder Rec Center and open space trails!

$995,000

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Modern Frank Lloydesque 2,602 sqft, 3 BD, 3 BA home with panoramic views located on 5 acres only 10 minutes west of Boulder. Superbly well built by a renowned Boulder builder for his personal residence.

130 S 31st Street

Stunning mid-century modern ranch located on a very quiet street in coveted Martin Acres! Every surface has been updated! 1,026 sqft, 3 BD, 1.5 BA with awesome Flatiron views, beautifully landscaped lot, and super quiet & convenient location.

$825,000

714 E Simpson Street

$750,000

4282 Eldorado Springs Drive

Lovely 2,096 sqft, 3BD, 3BA, 2-story home nestled in Eldorado Springs Canyon.

Updated kitchen, private primary suite on 2nd floor with vaulted ceilings, balcony, and attached bath. 2-car garage.

$899,500

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Old Town Lafayette 2,567 sqft, 4 BD, 3 BA home features an expanded main level with primary bedroom and family room additions with vaulted ceilings, an open kitchen, and an alley accessible 3 car garage.

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300 Hopi Place

(Adapted from nellhills.com.

Katie Laughridge is the owner of Kansas City interior design destination Nell Hill’s. For more information, contact Katie at info@nellhills.com.)

Steve sells more homes in Boulder than any other real estate agent or team!

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Sprawling 4,328 sqft, 6 BD, 4 BA, Ranch in Frasier Meadows sits on a beautiful 1/3 acre lot with mature trees. Wonderful floorplan built around a central atrium. Remodeled kitchen and bathrooms. Great view of the Flatirons!

This light and airy stem pairs wonderfully with the gorgeous neutrals and wicker accents we loved in the spring and summer while still bringing us new texture and energy for the months ahead.

Pampas grass isn’t just for calming neutrals, it also pairs well with trendy colors like millennial pink and dark and mysterious black backdrops.

With just enough pomp – or “pamp,” I suppose – to make a statement without overwhelming an arrangement, it is a wonderful splash of the unexpected. We’ve been using it as standalone texture and pairing with our other favorite dried stems and vegetation for stunning displays in almost every room.

STEVE ALTERMATT, BOULDER’S #1 REAL ESTATE AGENT!

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pillows and accessories full of whimsy and camp. As we progress through the year, however, they are becoming more delicate and textured.

We are seeing a fine revival of the classic polka dot, and it is stunning. This dotted-swiss version of the beloved pattern is all about texture and inconsistent sizing. If you prefer organic shapes over rigid formality, these spots are now a perfect representation of organized chaos.

The new rendition of polka dots doesn’t take away from its light and cheery disposition — if anything, it is enhanced. From upholstery to lamps and tabletop accessories, dots and spots are the most fun thing to add to your home this season.

Another standout for fall 2021 shows us the grass isn’t always greener, and we don’t want it to be. Pampas grass is a stunning (and fluffy) addition to your foliage collection that brings to mind a bountiful harvest and swaying pastoral waves of grain.

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3565 Moorhead Ave

Great Boulder starter home or income property conveniently located with easy access to downtown Boulder, Denver and CU! This 1,426 sqft tri-level has been nicely remodeled with 4 BD, 2 BA. Priced under FHA loan limits for first time home buyers!

$639,000

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500 Mohawk Drive #210

Outstanding location in Southeast Boulder! This one bedroom, one bath, 2nd floor unit has a west facing balcony with amazing mountain views! Enjoy all the HOA amenities including indoor pool/spa, billiards, exercise room, and more.

$395,000

Steve Altermatt, CRS 303-441-5669

www.SteveAltermatt.com • steve@stevealtermatt.com 6

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BOULDER DAILY CAMERA / LONGMONT TIMES CALL

M WT ANT MORE INFORMATION? Check out these great homes and many more at: Check out these homes and many more at:

tinyurl.com/BoCoFeatured

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12 UNIT APARTMENT BUILDING 1945 Canyon Blvd BOULDER $6,000,000

VIEWS FOR DAYS 6264 Red Hill Rd BOULDER $1,797,000, 3 Beds, 4 Baths, 3077 SqFt Kevin Murray 303-818-9249

INCREDIBLE FLATIRON VIEWS 5004 Gallatin Pl BOULDER $1,375,000, 5 Beds, 4 Baths, 3718 SqFt

OFFICE SPACE FOR 5 190 Arapahoe Ave BOULDER $1,200,000, 1985 SqFt

TRI-LEVEL W/ VIEWS 6365 Baseline Rd BOULDER $1,050,000, 4 Beds, 3 Baths, 1816 SqFt

PRIVATE & MATURE STREET 1432 Wonderview Ct BOULDER $995,000, 3 Beds, 2 Baths, 1882 SqFt

SPACIOUS LOCK & LEAVE 104 Springs Cv LOUISVILLE $899,900, 3 Bedss, 4 Baths, 3496 SqFt

CHARMING HORSE PROPERTY 8029 Firethorn Dr LOVELAND $850,000, 5 Beds, 3 Baths, 2464 SqFt

Sat en Op

EXPERIENCE THE SERENITY 13302 Wild Basin Wy BROOMFIELD $850,000, 5 Beds, 4 Baths, 4572 SqFt

1926 FARMHOUSE 695 Beauprez Ave LAFAYETTE $765,000, 4 Beds, 2 Baths, 2292 SqFt

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DESIRABLE WATERSONG @ CREEKSIDE 2330 Watersong Cir LONGMONT $619,900, 3 Beds, 4 Baths, 2868 SqFt Mary Romano 303-588-8433

IMPRESSIVE & CONTEMPORARY 13554 Saddle Dr MEAD $500,000, 4 Beds, 3 Baths, 2253 SqFt 1-4 at nS e Op

SPACIOUS IN FOX CREEK FARM 1302 Laurel Ct LONGMONT $490,000, 3 Beds, 2 Baths, 2204 SqFt

CORNER LOT W RV PADS 231 1st St MEAD $425,000, 4 Beds, 2 Baths, 1671 SqFt

FLATIRON VIEWS 665 Manhattan Dr 108 BOULDER $380,000, 2 Beds, 2 Baths, 888 SqFt

MOVE IN READY W VIEWS 804 Summer Hawk Dr 8205 LONGMONT $350,000, 3 Beds, 2 Baths, 1300 SqFt Jan Marose 303-817-9675

COZY & CONVENIENT 1825 Kendall St 107 LAKEWOOD $219,920, 1 Bed, 1 Bath, 580 SqFt

BEAUTIFUL COUNTRY LIVING 83 Mountain Vw BOULDER $139,900, .92 Acre

BUILD YOUR DREAM HOME 54 Carson Ct WARD $79,000, ~.93 Acre

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READY TO MOVE IN 333 Southridge Pl LONGMONT $325,000, 2 Beds, 1 Bath, 1021 SqFt Tom Pringle 303-921-2668

Boulder 303.499.9880

Downtown Longmont 303.651.3939

Downtown Boulder 303.442.3180

Nederland 303.258.7070

4770 Baseline Rd #220 Boulder, CO 80303

1911 11th St #200 Boulder, CO 80302

October 8-9, 2021

512 4th Ave #101 Longmont, CO 80501

286 N Bridge St Nederland, CO 80466

Lafayette 303.497.0588

109 N Public Rd View these homes online!

Lafayette, CO 80026

rem.ax/bocohomes

Louisville 303.666.6500

225 W South Boulder Rd Louisville, CO 80027

Each office independently owned and operated.

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Boulder’s Independent Real Estate Professionals ce

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7245 Coyote Trail Just Sold 4 secluded, quiet acres with a remodeled home near Hygiene.

7823 Hygiene Rd

$1,695,000

Updated ranch-style home on 31 acres. No Conservation Easement, good soils and senior water rights with Oligarchy Ditch. Sought-after schools, a quiet location and walking distance from the town of Hygiene. ng

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5557 Aspen Ave Just Sold 1.28 acres, 3-bed home, workshop and 7-stall barn.

718 Pine Brook Road $895,000 2200 sf home located on 1.4 acres in Pinebrook Hills. w Ne

8181 N 41st St $3,250,000 11.5 acres of private, irrigated land enjoying Flatirons views. Custom home, 3-stall barn and finished workshop.

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8127 Hygiene Rd $1,050,000 Cute and private ranch house with attached greenhouse, legal studio, wonderful trees and water rights on 1.6 acres.

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20115 S Saint Vrain Dr $695,000 80 acres of beautifully dense forest and level building sites.

303.444.3177 klrealty.net team@klrealty.net BOULDER DAILY CAMERA / LONGMONT TIMES CALL

BANKRATE

The final walkthrough before closing: Checklist and tips Final walkthrough checklist: What to look for There are several items you should confirm during the final walkthrough of the property.

Okasinski and Elizabeth Grimes, an attorney Josh Green, 32, left, tours a remodeled junior one-bedroom with Ligris + condominium in Chicago on March 12, 2021.

Associates PC (Jose M. Osorio/Chicago Tribune/TNS) in Wellesley, Massachusetts, Erik J. Martin recommend the following Bankrate.com (TNS) checklist: As you prepare to finalize -The seller’s belongings have a home purchase, there’s an been fully moved out. important step to take before the -Any repairs that the seller closing: the final walkthrough. promised would be done have This personal inspection helps been completed. ensure that the home you -All appliances that the committed to on paper is in purchase agreement specified relatively identical condition to would remain are in proper when you first visited, and that the working order. seller is compliant with the terms -The seller left copies of all of your real estate contract. manuals and instructions for appliances and fixtures.

What is the final walkthrough -Door and window locks are before closing? fully functioning.

A final walkthrough is an -The HVAC systems (furnace, opportunity for you, as the air conditioning, etc.) are working homebuyer, to visit and assess the properly. property you’re purchasing before -All faucets are working, toilets the closing. The goal of the visit is flush properly and there are no to ensure the home is in the same plumbing leaks. condition it was when you agreed -All walls, ceilings and to buy it. doorways are structurally intact “It’s also an opportunity for and not damaged from moving. you to ensure that the seller has -The yard is free of any debris moved out or substantially moved or damage. out, and that the seller did not -The seller left the garage door cause any damage during the openers and keys in the home or move-out,” adds Lisa Okasinski, with their agent. a real estate attorney and owner “Cleanliness, completion of Okasinski Law PLC, based in of repairs, any changes to the Detroit. condition of the property from the This visit is important, as it time of the sales contract, presence allows you to assess whether the of all items that are contractually seller has met your interpretation included in the sale and removal of the purchase agreement of items not included in the sale and removed all their personal should all be checked during property, explains David North, your final walkthrough,” North broker/owner of Realtrua in advises.

Redmond, Washington.

“This is also the time to confirm When is the final walkthrough? that non-subjective contractual The final walkthrough obligations of the seller, such as commonly take places 24 to 48 specific repairs, have been met,” hours before closing. The home North says. purchase agreement typically October 8-9, 2021

contains a provision allowing for the walkthrough, and it might specify the window of time in which it can occur.

“I always suggest to my clients to schedule the final walkthrough on the morning of the closing so that they are getting a last look to make sure the property is in good condition prior to signing closing paperwork,” Grimes says.

What to bring to the final walkthrough You are not required to bring anything with you to the final walkthrough, but you might want to bring a checklist (either on paper or your phone) that you can mark off during your visit. Your real estate agent and/or attorney might also be present with you during the final walkthrough.

“I always suggest buyers bring a flashlight to look in basement and attic areas that have low visibility, too,” Grimes says.

How long should a final walkthrough take?

The duration of the walkthrough is up to you — there is no legal maximum or minimum time limit, according to Okasinski. Generally speaking, prepare to take the time necessary to carefully evaluate the home. Rushing through a final walkthrough can lead to regret, as you could accidentally overlook flaws or breaches of contract.

“How long it takes is highly dependent on the property, how inclined you are to look at details, what you end up finding and other unpredictable factors,” North says. “I always recommend scheduling at least an hour and a half — sometimes longer.

Walkthroughs don’t usually take longer than that, but they can, at times.”

Can a buyer back out during the final walkthrough?

Whether or not you can terminate your real estate contract after the final walkthrough depends on the terms of your agreement.

“In most cases, it would be hard to terminate the purchase agreement as a result of the final walkthrough, unless you could point to a major change in the condition of the property,” Okasinski cautions. “For smaller

items of damage that happened after the purchase agreement was entered, it’s more realistic that the parties would agree to have the buyer withhold from the seller an amount necessary to make the repairs at closing.”

Legally, however, you are allowed to back out if the property does not meet the obligations detailed in your real estate contract, according to Grimes.

“Typically, sellers and buyers instead agree to either monetary compensation or other solutions to ensure the transaction moves forward,” Grimes says.

What to do if you find issues in the walkthrough You might discover a problem or violation of your purchase agreement during the final walkthrough, but that doesn’t mean it’s a dealbreaker.

“Depending on the problem, there is usually a solution that can be worked out with the seller,” Okasinski says. “For example, if the seller appears that they are not able to move by the scheduled closing date, you could either delay the closing date or enter into a lease with the seller so that you receive rent from them after the scheduled closing date. If there is damage to the property you notice, you could have the seller agree to make the repairs to the property or negotiate to have the purchase price reduced by the cost of repairs.”

“I always advise the buyer to review the situation carefully and figure out whether or not it’s worth delaying the closing or mentioning it to the seller,” adds Jason Gelios, a Realtor with Community Choice Realty in Southeast Michigan. “However, larger issues like missing appliances or major damage to the property should never be overlooked.”

Gelios notes that most of his buyer clients don’t back out of the deal without holding the seller accountable for things not honored in the purchase agreement.

“Most sellers are open to making things right at this stage of the process,” Gelios says.

(Visit Bankrate online at bankrate.com.)

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9

COVERPROFILE

Fall in Love With Your New Home With Brookfield Residential

By Wendy McMillan At Home Colorado Photos courtesy: Brookfield Residential

Brighton Crossings: Low-maintenance living at its best

A

utumn is here at last, and what better time to feel the love for Colorado?

With its spectacular mountain views, shimmering lakes, and sweeping plains, it’s never any wonder why our beautiful state is such a coveted place to live. But, with a blazing backdrop of turning leaves the season inspires an extra swell of appreciation. Not only that, cooler temps and golden aspen glow have us all embracing change, too. For prospective home buyers, that well may include looking forward to your perfect home, no matter what season you’re enjoying in life.

Fall just may be the perfect time for purchasing a new property.

The weather couldn’t be better, and striking that just-right fit in autumn opens up the opportunity to relax and enjoy the holidays around the corner. Better yet, 10

AT HOME COLORADO

Brookfield’s Villa Portfolio homes offer plenty of pizazz.

buyers today can forego the exhaustive searching while creating their dream homes by buying new, with Brookfield Residential.

Dedicated to creating the best places to call home, Brookfield Residential exemplifies the benefits of new construction homes. This includes brand-new amenities such

as resort-style pools, premium clubhouses, tranquil parks, vibrant playgrounds, fitness centers and more. Just as significantly, these new construction homes epitomize smart investments, with top technology and energy efficiency and fresh, clean living, styled to taste.

When it comes to stress, moving house always features as one of life’s top events--but it doesn’t have to be that way. Brookfield Residential aims to offer you the perfect welcome, from the home-buying experience to your lifestyle options once moved in.

For a premium example, you need look no further than Brighton Crossings, where low maintenance living means more time to make the most of top-notch amenities and a supreme, pure Colorado location.

Located at South 50th Avenue south of East 168th, Brighton Crossings is serenely situated, a quiet haven within easy reach of all the conveniences. From King Soopers, Target, and Home Depot to a slew of tempting restaurants and appealing retail, everything you need is right at hand, with the bonus of easy access to the airport and metro area. And, with

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Downtown Brighton and idyllic Barr Lake State Park both just ten minutes away, this neighborhood leaves nothing to be desired.

Of course, at Brighton Crossings, there will be plenty of times you feel like staying put. The premier, master-planned community was thoughtfully designed with the aim of cultivating community. This vision is evident in the numerous pocket parks, the large Venture Center recreation center and swimming pool, a second, smaller recreation center, two dog parks (one for big, the other for small dogs), and more. This past spring saw the opening of Volley Park, inclusive of two pickleball courts, a tennis court, picnic areas with covered pavilions, a playground, built-in yard games, and lots of grassy space encouraging residents to get out and enjoy.

Alongside the strong neighborhood appeal at Brighton Crossings is the allure of the homes themselves. Stunning, on-trend designs showcase everything you could wish for in low-maintenance living. What’s more, this blissful combo of quality, amenities, and ease comes affordably priced, starting in the mid $400s.

The Villa Portfolio: Where it’s good to share Brookfield’s Villa Portfolio homes remind us just what a wonderful thing it is to share — while keeping your own personal space. With a marvelous mainfloor suite of your very own, wide open living areas, a front porch and patio, these paired homes offer plenty of privacy and pizazz.

With careful design providing privacy and uplifting natural light, Villa homes make you forget you share a wall with your neighbor.

Moreover, paired homes bring the price of single-level living starting in the mid-$400s, truly a rare find

Villa 3 floor plan at Brighton Crossings.

in today’s hot market. Moreover, you get to take advantage of an exquisite opportunity to skip the bidding wars and buy new, choosing layouts that match your tastes, lifestyle and budget. Quick move-ins are also available.

The Villa Portfolio is comprised of three, stellar floor plans ranging from 1348 to 2043 square feet.

All come with a 2-car garage and the option to finish the spacious basement. Front yards are mowed, and snow is shoveled in the winter. With top quality, beauty, and comprehensive amenities throughout and outside of the community, this is indeed what you call good sharing. Quick move in homes will be ready to close by the end of the year.

North End Central Park: Where Every Day is Memorable

Located at the northern edge of Denver’s Central Park, where a great city meets great plains, the special, well-developed North End neighborhood reflects some of the city’s most inspired and exciting ideas. Homes have been intentionally designed to fully take advantage of the rolling landscape and breathtaking mountain views.

What’s more, the premium location is a true celebration of a thriving community.

With 32,000+ residents and more than 100 businesses each adding warmth and signature flavor, Central Park offers a diverse, captivating mix of uses.

Wherever you are, you can count on both a sense of genuine community, as well as access to the great outdoors. Brookfield Residential homes invite residents to step outside to greet their neighbors, from porches, balconies, and courtyards. And certainly, feeling the summer sunshine from these carefully cultivated outdoor spaces is all the invitation needed to explore any of the 60+ parks, 62 miles of trails, and expansive open spaces.

If your vision of a beautiful, single-family home feels out of reach, rest assured. There are gems to be found, when you know where to look for them. And, you need look no further than North End Central Park.

Tealight Portfolio How often do we hear the phrase, “charming old home”?

The Tealight Portfolio takes what could be considered cliche and

makes it a marvel. As smart as they are beautiful, these classic homes have a gemlike quality, with every facet carefully polished. Kitchens, for example, feature professionally designed Mastercraft Cabinet layouts with crown molding and light rail, Whirlpool stainless steel appliances, and quartz countertops with under-mount sinks. Living spaces are enhanced by LED disk lights, wood shelving in all closets and pantries, and numerous other tasteful touches that elevate each home.

Ranging from 1,461 to 1,632 square feet, these homes combine time-honored character with bright, clean, modern sensibility.

Not only that, they’re designed for efficient living, too. Brookfield Residential’s myCommand smart home automation offers homeowners high-tech functionality that wasn’t available in the past. New homes can be built fully connected, brimming with smart home accessories that offer a seamless user experience versus retrofitting an older home with similar tech upgrades. Protect and equip your haven with front door smart lock hardware, smart garage door openers, a camera linked doorbell, Wi-Fi extended coverage, smart switches, USB outlets, and more. All this amounts to easier and more enjoyable living, and allows for more hours each day for pure enjoyment. Starting in the $500s, there are six new homes available, ready to close by year’s end. What’s more charming than that?

Ready to learn more?: Visit brookfieldresidentialCO.com or call 303.529.1709

Ranging from 1,461 to 1,632 square feet, Tealight Portfolio homes combine time-honored character with bright, clean, modern sensibility.

October 8-9, 2021

ATHOMECOLORADO.COM

11

REAL ESTATE MATTERS

Here’s why you should keep your kids off the title to your home Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency Q: My mother put me on the deed to a house she purchased five years ago. Recently, she has decided that she wants to sell the house to buy a smaller house in a nearby town. The house has been her primary residence for the last five years, but not mine. I live three hours away.

What are the tax implications for me from the sale of the house?

She wants to do an 80/20 split with me gaining the majority. I understand what she is trying to do, and I appreciate it and could use the money, however, that kind of money would probably move me into a higher tax bracket.

Would it be better for her to take the total gains and then give me what she wants at a later time?

A: The simple answer to your question is: yes. It’s better for her to own this property entirely when she sells it. But let’s back up a bit so you both will understand why she made a classic mistake and why she might want to unwind it.

First, it’s unclear to us what problem your mother was trying to solve by putting you on title to the property. Was she hoping to avoid probate when she dies? Was she trying to give you some or all of the property? Did she simply feel better knowing you were on the title to the home and would automatically get the home upon her death?

When your mom put you on title to the home, she might have thought she was doing you both a favor. In a few cases, this may be true. But in many others, it is not.

As the owner of the home, your mom gets to exclude from federal income taxes the first $250,000 of profit (up to $500,000 if she was married) on the sale of her home.

To enjoy this tax benefit, your mom must meet a number of requirements. Most notably, she must have lived in the home as her primary residence for two of the last five years.

Now, if you own the home and you die, your heirs inherit the home at the home’s value at 12

AT HOME COLORADO

around the time of your death.

Let’s say your mom purchased the home for $100,000 and the home was worth around $500,000 at the time of her death. Assuming you inherited the property outright and then sold it immediately, you’d enjoy about $400,000 in profits. However, due to current tax laws, you would technically inherit the home at the home’s value at the time of her death so if you inherited the home and then sold it shortly after she died for $500,000, the IRS would view the property as being worth $500,000.

You inherit a home worth $500,000 and then sell it for $500,000, which means there is no profit because of what is known as the stepped-up value of the home assigned at the time of your mom’s death. As an added benefit, if your mom’s estate is below the threshold for paying estate taxes, your mom’s estate wouldn’t pay taxes either.

Unfortunately, if you and she own the home together and she dies, you might have been equal owners of the home. On her death, you would inherit only onehalf the value of the home (and would receive the stepped-up basis for that half) but would not fully benefit from the stepped-up basis that we described. If you sold the home, you wouldn’t pay tax on

the share you inherited from your mom at the time of her death, but you’d likely have to pay tax on your share of the home. Your tax would be based on the value of your share when you obtained ownership against the amount you received when you sold the home.

To use the same numbers as an illustration: If your mom bought the house for $100,000 and you were co-owners, you would inherit her half of the property at the stepped-up basis of $500,000.

When you sold the home, her half would be shielded from taxes, but your profit would be calculated based on the difference between the purchase and sales prices, or $400,000, of which your share is $200,000. You would likely owe taxes on the $200,000 in profit rather than not owing any tax at all.

There are a lot of trivial tax rules that can make this more or less complicated, but in a nutshell, it might be better for your mom to put the home in a living trust that allows her to control the home while she is alive and allow you to inherit the home through the trust upon her death. While your mom is alive, she can do what she wants with the home (including selling it) and would not need you to sign anything. But in the event of her death, she’d know that the home would go to you.

For more information, you and your mom might want to talk to an estate planner or estate attorney about setting up a living trust and walking you through the process.

As an aside, if your mom wants to give you cash, she can give you (and anyone else) $15,000 per year with no tax implications.

If she wants to give you more, she can give you significantly more, but it will come out of her lifetime gift tax exemption, which is $11.7 million. (The exemption is scheduled to decrease to $6 million in 2026.) For more details on gift taxes, visit the frequently asked questions on gift taxes page at irs.gov.

(Ilyce Glink is the author of “100 Questions Every FirstTime Home Buyer Should Ask” (4th Edition). She is also the CEO of Best Money Moves, an app that employers provide to employees to measure and dial down financial stress. Samuel J. Tamkin is a Chicago-based real estate attorney. Contact Ilyce and Sam through their website, bestmoneymoves.com.)

(C)2021 Ilyce R. Glink and Samuel J. Tamkin. Distributed by Tribune Content Agency, LLC.

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THE LIGHTER SIDE

Increase your happiness: Do some remodeling demo work

BY MARY LYNN BRUNY If you’re feeling a little meh about aspects of your life or the world (easy to do nowadays), I have just the ticket for you: Spend a few weekends doing remodeling demolition work. I assure you, this will make you feel better.

On remodeling shows, demolition work is playfully shown in a 30-second montage with upbeat music. A woman with a cute bandanna tied on her head struggles to lift up a heavy sledgehammer and – bam!

– pounds that first hole in a wall!

It’s fun! It’s fast! Barely a spec of dust flies!

But like most things on these shows, nasty old reality is barely shown. The reason these programs show only seconds of demolition work is because it is God-awful, hard, dirty, soul and body crushing work.

I know of what I speak as I just did this for four weekends.

Why, you ask, would an “older”

woman willingly undertake this endeavor? Like most foolishness in my life, my husband is at fault.

The problem is he’s always game for new projects. As usual, he underestimates the effort a task will take and overestimates our ability to accomplish it. But even worse, he’s always willing to work hard which means I must too. I can’t just be the wuss he married.

This hellscape all started because our nearby son and his beloved bought a beat-up fixerupper that was formerly a rental.

As a young couple, they are trying to keep remodeling expenses down by doing as much of the work as they can. My husband, being the wonderful father he is, volunteered to help them demo. Of course I had to help as well to keep my Best Mom Ever status. (Mother’s

Day cards don’t lie, do they?)

First the old, stained, peturine soaked carpeting and padding were removed. Though cumbersome, this was the easy part and left the home smelling profoundly better. And it was very uplifting when the discolored toilets, sinks and tubs were removed.

Removing the heavy tile and vinyl flooring, however, was what almost broke all four of us. I think Thor himself installed this stuff to last the ages. Professional tools were rented and assisted with sledgehammers. Progress was made by inches through a film of dust in the air and swear words on the lips.

Perhaps the icing on the cake of grossness was the mold. It was in many places, perhaps none

quite as retching inducing as the decomposing peed-upon walls and baseboards behind the toilets.

As the mother of two little boys, I took a hit for the team and dealt with removing these. Points earned.

When we got too disgusted with one task, we went to another and got disgusted with that one. And by the end of each day we were disgusting, too. We were covered in demo grit mixed with sweat.

In essence we were smelly used human Brillo pads.

After a day of demo, my husband and I got home completely exhausted. Cracking open a beer and taking a hot shower felt like heaven. At the end of the weekend we could barely move due to stiffness in muscles we didn’t know existed. But this passed, usually just in time for the following weekend.

But demolition work has a great side affect: Suddenly all the dull, onerous tasks in our lives seem easy. Any chore that isn’t grossly dirty and physically body breaking seems down right pleasant. Even mask wearing isn’t bad if it’s not around peed-upon, mold-infested walls and baseboards. Life is looking better, for sure. Either that or I have drywall dust in my eyes.

Mary Lynn Bruny writes about local real estate and home-related topics. Contact her at ml.bruny@ comcast.net. To read previous THE LIGHTER SIDE articles, go to athomecolorado.com/thelighter-side.

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15

REAL ESTATE

Shelter Capital Gains through Opportunity Zone Funds The rapid price appreciation of real estate since the end of the recession in 2012 has kept

BY DUANE many homes DUGGAN off the market.

Realtor and Author The reason?

RE/MAX of Boulder Current tax law states that a single person can exclude $250,000 of gain from their personal residence and it will not be subject to capital gains tax. A married couple can exclude up to $500,000 of gain.

Those numbers have been part of tax law for years. The issue now, however, is that home prices have surged. Several years ago, it was very likely you could shelter all of the proceeds of your personal residence sale from taxes. Now, with the average sales price over $1 million in Boulder County, many homeowners are finding that if they sell, they can expect a huge tax bill. Therefore, they are deciding not to sell.

According to Chris Bryant of RBC Wealth Management in Colorado, an alternative to signing a check for the amount of the tax due is to invest in an Opportunity Zone Fund. In 2017, the Tax Cuts and Jobs Act, created the Qualified Opportunity Zone program to provide a tax incentive for private, long-term investment in economically distressed areas. An Opportunity Zone is a community nominated

by the state and certified by the U.S. Treasury Department as qualified to be a part of the program. That act created 8,700 Opportunity Zones in all 50 states, including a few in Boulder.

Opportunity Zone Funds are available for investors to defer and potentially reduce or eliminate tax on capital gains.

The Fund Manager invests in a selection of Opportunity Zone projects. These investments are only available to Accredited Investors. An Accredited Investor is someone with at least $1 million in net worth or $200,000 of annual income as a single person or $300,000 for a couple Investing in a Qualified Opportunity Zone Fund has several benefits. An investor with substantial capital gains tax liabilities from any (stocks,

FEATURED AGENT MARY ROMANO Blue SkyAlliance Colorado Real Estate Re/Max Coldwell Banker Residential

303-588-8433 homes@maryromano.com Read Mary’s At Home profile at:

http://athomecolorado.com/mary-romano

16

AT HOME COLORADO

bonds, real estate, etc.) prior to investment can defer, reduce, and possibly eliminate the tax due if all the criteria are met. Tax savings are only available when an investor is willing to retain the investment in the Qualified Opportunity Zone Fund for specific periods of time. The greatest benefit occurs if the investment if held for 10 years.

If you are going to invest in an Opportunity Zone Fund, you need to do it within 180 days of the sale of the appreciated asset.

The Investor may invest the return of principal as well as the capital gain, but only the portion of the investment attributable to the capital gain will qualify for the tax on any appreciation of the Opportunity Zone Investment.

Often real estate is owned by an entity, rather than an

individual. An Investor who receives a capital gain from a pass-through entity, like a partnership, an S-Corporation, or a trust/estate, has 180 days from the end of the calendar year to make an investment in an Opportunity Zone Fund, no matter how early in the calendar year the entity realized the capital gain.

There are no investments that are risk free. Opportunity Zone Funds have been around for a relatively short period of time.

If you are facing a significant tax liability due to capital gains from any source, exploring the opportunity to invest in a Qualified Opportunity Zone fund would be worthwhile.

Consult your financial planner to determine if you qualify to invest, which Opportunity Zone Funds are currently available for investing, and what the levels of risk are.

Learn more about the Colorado Opportunity Zone Program with interactive map at: https:// oedit.colorado.gov/coloradoopportunity-zone-program Duane has been a Realtor for RE/MAX of Boulder since 1982.

Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life. For questions, e-mail DuaneDuggan@boulderco.com, call 303.441.5611 or visit boulderco.com.

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QUICK GUIDE

OPEN HOUSES // VIRTUAL TOURS

LIST YOUR OPEN HOUSE OR VIRTUAL TOUR: VISIT OPENHOMES.ATHOMECOLORADO.COM OR CALL 303.473.1456, 303.684.5329 Boulder 4435 Hastings Drive $1,025,000 Saturday 12:00 PM-2:00 PM Brigitte Furst 8Z Real Estate (720) 244-4411 4435 Hastings Drive $1,025,000 Sunday 2:00 PM-4:00 PM Brigitte Furst 8Z Real Estate (720) 244-4411 1087 Terrace Cir S $1,375,000 Saturday 1:00 PM-3:00 PM Karen Bernardi The Bernardi Group at Coldwell Banker (303) 402-6000 6264 Red Hill Rd $1,797,000 Sunday 12:00 PM-2:00 PM Kevin Murray RE/MAX Alliance On Walnut (303) 818-9249

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Superior 1362 Dillon Way $959,000 Saturday 11:30 AM-1:30 PM Barry Remington WK Real Estate (720) 373-9297

Westminster 10395 Quail Street $475,000 Saturday 11:00 AM-1:00 PM Karen Bernardi The Bernardi Group at Coldwell Banker (303) 402-6009

Windsor 1830 E. Seadrift Dr. $739,900 Sunday 1:00 PM-4:00 PM Shannon Blesener Sears Real Estate (970) 405-5964

Longmont

1789 Beachside Dr $785,000 Saturday 11:00 AM-2:00 PM Dennis Schick RE/MAX Alliance - Fort Collins (970) 567-3942

333 Southridge Parkway $325,000 Saturday 1:00 PM-3:00 PM Tom Pringle RE/MAX Alliance (303) 921-2668

1789 Beachside Dr $785,000 Sunday 11:00 AM-2:00 PM Dennis Schick RE/MAX Alliance - Fort Collins (970) 567-3942

2910 17th St $1,947,500 Saturday 10:00 AM-12:00 PM Karen Bernardi The Bernardi Group at Coldwell Banker (303) 402-6000

2330 Waterson Cir $619,900 Saturday 12:00 PM-2:00 PM Mary Romano RE/MAX Alliance (303) 588-8433

1785 Beachside Dr $820,000 Saturday 11:00 AM-2:00 PM Dennis Schick RE/MAX Alliance - Fort Collins (970) 567-3942

1715 Sunset Blvd $3,600,000 Friday 4:00 PM-6:00 PM Marybeth Emerson Colorado Landmark (720) 394-1997

2330 Waterson Cir $619,900 Sunday 12:00 PM-2:00 PM Mary Romano RE/MAX Alliance (303) 588-8433

1785 Beachside Dr $820,000 Sunday 11:00 AM-2:00 PM Dennis Schick RE/MAX Alliance - Fort Collins (970) 567-3942

1428 Cassin Court $1,895,000 Sunday 1:00 PM-3:00 PM Tom Cohen RE/MAX of Boulder (303) 829-6787

October 8-9, 2021

ATHOMECOLORADO.COM

17

REAL ESTATE

High home prices continue to weigh on homebuying sentiment

Wide Disparity Exists Between Homebuying and Home-Selling Conditions, Consumers Report PRNewswire/— The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) decreased 1.2 points to 74.5 in September, as survey respondents continued to report divergent opinions of homebuying and home-selling conditions.

Overall, three of the index’s six components decreased month over month. Most notably, an even greater share of consumers reported that it’s a bad time to buy a home – with that number now sitting at 66 percent, up from 63 percent last month and significantly higher than the 28% of respondents who believe it’s a good time to buy. The home-

selling conditions component remained mostly flat, with a strong majority of consumers maintaining that it’s a good time to sell.

Year over year, the full index is down 6.5 points.

“The HPSI declined slightly this month but remains within the general bounds we’ve seen since the end of last year,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist.

“The survey’s story is also largely unchanged: Consumers feel it’s a bad time to buy a home but a good time to sell – and they continue to cite high home prices as the primary reason. Across all consumer segments, renters and younger consumers were slightly more likely to indicate it’s a bad time to buy, perhaps a reflection of their generally lower incomes and their observation that the availability of affordable homes is lacking. We’re also seeing a softening in consumers’ expectations that home prices will continue to increase; however, in our view, other housing market fundamentals remain supportive of further home price appreciation – including low levels of inventory and low interest rates.”

Home Purchase Sentiment Index – Component Highlights Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased

in September by 1.2 points to 74.5. The HPSI is down 6.5 points compared to the same time last year. Read the full research report for additional information.

Good/Bad Time to Buy The percentage of respondents who say it is a good time to buy a home decreased from 32% to 28%, while the percentage who say it is a bad time to buy increased from 63% to 66%. As a result, the net share of those who say it is a good time to buy decreased 7 percentage points month over month.

Good/Bad Time to Sell The percentage of respondents who say it is a good time to sell a home increased from 73% to 74%, while the percentage who say it’s a bad time to sell remained unchanged at 19%. As a result, the net share of those who say it is a good time to sell increased 1 percentage point month over month.

Home Price Expectations The percentage of respondents who say home prices will go up in the next 12 months decreased from 40% to 37%, while the percentage who say home prices will go down remained unchanged at 24%. The share who think home prices will stay the same increased from 31% to 33%. As a result, the net share of Americans who say home prices will go up decreased 3 percentage points month over month.

Mortgage Rate Expectations

The percentage of respondents who say mortgage rates will go down in the next 12 months increased from 6% to 8%, while the percentage who expect mortgage rates to go up decreased from 53% to 51%. The share who think mortgage rates will stay the same decreased from 35% to 33%. As a result, the net share of Americans who say mortgage rates will go down over the next 12 months increased 4 percentage points month over month.

Job Concerns The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 82% to 81%, while the percentage who say they are concerned increased from 15% to 16%. As a result, the net share of Americans who say they are not concerned about losing their job decreased 2 percentage points month over month.

Household Income The percentage of respondents who say their household income is significantly higher than it was 12 months ago increased from 26% to 27%, while the percentage who say their household income is significantly lower increased from 12% to 13%. The percentage who say their household income is about the same decreased from 59% to 57%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago remained unchanged month over month.

Wendy Conder

Let’s discuss your real estate goals today!

Elliott Apartments are located in a historic residential neighborhood in Longmont, Colorado. Just two blocks from beautiful main street Longmont, Elliott Apartments has easy access to shopping, restaurants, and entertainment.

Offering 1, 2, and 3 bedroom apartments.

418 Emery St. Longmont • (303) 772-6452 18

AT HOME COLORADO

An Experienced Real Estate Agent You Can Trust When it’s Time to Buy or Sell Your Home.

WENDY CONDER

303-775-0108 • wendy@wendyconder.com BOULDER DAILY CAMERA / LONGMONT TIMES CALL

Real Estate place yoUr ad:

303.466.3636 BoUlder/Broomfield/longmont or 970.635.3650 loveland or frontrangeclassifieds.com

Real Estate

FAIR HOUSING NOTICE All real estate advertising in this newspaper is subject to the Federal Fair Housing Law which makes it illegal to advertise a preference limitation or discrimination based on race, color, religion , sex, handicap, familial status, or national origin, or an intention to make any such preferences, limitation or discrimination.

This newspaper will not knowingly accept any advertising for real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. To complain of discrimination, call The Colorado Civil Rights Office at 1-800-262-4845/ HUD at 1-800-669-9777.

Water Mineral Want to purchase minerals and other oil/gas interests.

Send details to: P.O. Box 13557, Denver, CO 80201

DRIVE YOUR WHEELS!

List your car, RV, boat or motorcycle and get ready to roll!

Call

303-466-3636 970-635-3650 719-275-5300 888-355-0935

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Thank you for reading and supporting your local newspaper!

• OCTOBER 8, 2021 • 19

RECENTLY LISTED HOMES UNDER CONTRACT

BROOMFIELD | 2292 RIDGE DRIVE

LONGMONT | 931 REYNOLDS FARM A5

LOVELAND | 1907 GRAYS PEAK DRIVE 204

5 BR * 2 BA * 2308 TSF (952042) * $589,000

4 BR * 3 BA * 1965 TSF (952067) * $435,000

2 BR * 2 BA * 1101 TSF (952080) * $340,000

UNDER CONTRACT

BOULDER | 3733 PAONIA STREET

BOULDER | 1800 KALMIA AVENUE

GREELEY | 135 50TH AVENUE

3 BR * 3 BA * 3079 TSF (952081) * $1,000,000

4 BR * 2 BA * 2364 TSF (952171) * $1,095,000

3 BR * 3 BA * 2123 TSF (952192) * $425,000

UNDER CONTRACT

WESTMINSTER | 9548 DUDLEY DRIVE

FORT COLLINS | 2015 FALCON RIDGE DR.

BOULDER | 8918 KATHERINE COURT

3 BR * 4 BA * 2356 TSF (952222) * $630,000

4 BR * 4 BA * 2701 TSF (952249) * $539,000

6 BR * 5 BA * 6373 TSF (952322) * $2,995,000

BROOMFIELD | 13729 LEGEND TRAIL 102

BOULDER | 4282 ELDORADO SPRINGS DR.

BLACK HAWK | 188 DIANE AVENUE

2 BR * 2 BA * 2690 TSF (952338) * $505,000

3 BR * 3 BA * 2096 TSF (952431) * $899,500

3 BR * 3 BA * 3491 TSF (952436) * $1,397,000

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2425 Canyon #110 | 1320 Pearl 20

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303.449.7000 | BoulderCO.com BOULDER DAILY CAMERA / LONGMONT TIMES CALL