March Madness is here – and with Boulder’s red-hot real estate market, it’s not just for college basketball fans. Bomb cyclone threats aside, winter and its predictably slow real estate season is making its annual exit.
Longer days are upon us: we’re entering the season of weekend yard sales, abundant open houses and more House for Sale signs. With inventory already up ten percent from last year, potential buyers will have plenty of homes to explore while spring does its thing.
Historically, March is the time of year when potential buyers try to get a jump on the market and secure a home before the full summer press begins. With Boulder’s historically low inventory – even with this year’s ten percent bump, it’s still super-low – buyers tend to come out in droves.
The spring months often see some of the highest sales prices as buyers go on the defense to secure their dream home. With all the excitement from the sidelines, it’s important for buyers to stay focused and not get wrapped up in the March madness. Several fouls to avoid? Overpaying for marginal locations, ignoring deferred maintenance or overlooking questionable floor plans.
In Boulder, properly priced properties will continue to move quickly, but the key is knowing which homes are worth stepping up to the line for. Staying calm and making solid game-day decisions are a good offensive strategy, and having a seasoned real estate agent coach you through the process is tantamount to a successful transaction.
But, players be warned: overpaying for today’s housing trends will only haunt you in the long term. Those Air Jordans won’t always be on-trend, and that adorable modern farm house on the busiest corner in town won’t hold its value long term. To win Boulder’s real estate championship, it’s about considering your investment’s long game rather scoring a quick two-pointer.
By Sean McIllwain, Mod Boulder Real Estate. Sean is the founding broker of Mod Boulder Real Estate and the principal pedaler at Club Mod Cycling. Call 720.252.6051, e-mail firstname.lastname@example.org or visit modboulder.com.