RE/MAX Alliance agent Danna Hinz answers questions regarding the current real estate market and what’s happening specifically in the Louisville/Lafayette area. Danna is a Boulder Native and has lived in Boulder County for most of her life. Danna has been a real estae agent since 1999 and joined RE/MAX Alliance in 2001. She received the prestigious Hall of Fame award in 2009 and the Platinum Club in 2008. Her designations include ABR, CDPE, GRI, and IRES.
What are today’s consumers concerned with when it comes to buying and selling real estate?
Resale has always been an issue. Luckily this area has very stable schools and low crime rates. That always helps your resale ability. Sellers always want top dollar and buyers want a deal. Smart shopping and good comparisons for property values will help you to make sure you’re not under selling or over paying.
What are some positive signs in the Louisville/Lafayette real estate market? Louisville was just awarded the #1 Place to Live AGAIN by Money Magazine. That is one very positive sign! Although home sales are down by 1.9% from this time last year, homes are still being sold at an average of 96.5% of asking price. The new home subdivision of Steel Ranch also opened up their model homes recently and has since started taking presale orders. This has been a much-anticipated chance for homeowners in Louisville to buy a brand new home. Lafayette has seen an increase of 7.21% in their average sales price as well.
What are the current market trends in Louisville/Lafayette? I would say that stable is a good way to put most of the areas in both Lafayette and Louisville. A home that is priced well and in good condition doesn’t stay on the market too long. There are not as many fixer uppers and short sales as we have seen in the past. The market in this area seems to be returning to a more normal pattern.
Where are Louisville/Lafayette homebuyers coming from? One of the unique things about this area is the wide diversity of buyers. I do see a lot of relocation for both retirement and employer relocation. There are a number of buyers taking advantage of the low interest rates and moving up as well. The empty nesters seem to be buying that dream home that they never thought they could afford since rates are so low.
Why is now a great time to buy a home? Depending on the area, there are quite a few homes to pick from and low rate financing to go along with it. The key is to have your down payment already saved up. Usually you have low rates and nothing to pick from or high inventory and high rates. Now is an exceptional opportunity for buyers to have both.
What do you think is a realistic outcome for the remainder of 2011? I have a lot of listings coming on the market soon and relocations coming in from out of state. People seem to be willing and able to make a move now that the summer season is over. Family vacations are done and life is returning to normal. I don’t foresee a huge shift in the remainder of this year.
“People that I have talked to most recently seem to be very reluctant to make a decision until they have a chance to really sit down and talk to a professional,” said Hinz. “I don’t think that most people realize that they can sit down and have an in-depth conversation, without revealing any confidential information, at no cost or obligation. This helps to reduce fears and increase general knowledge and make the decision making process much smoother and less stressful.”
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I really want to thank Donna for everything she's doing and how quickly and thoroughly she handled everything. She is very knowledgeable and professional but yet very down to earth and easy to work with. Thank you
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