May Market Update

May Market Update

May is here and brings warmer weather, landscaping projects, end of school activities, graduation parties and more. We would like to thank all of you for making our May a bright one with an extra special thanks to all of the Mothers out there who were celebrated last Sunday.

At SRE, we feel fortunate to have so many buyers and sellers making our business a successful one. Along with the constant struggle to find inventory and battle competition for contracts, we have gained invaluable knowledge on what works in this market. We currently have 5 homes under contract, 2 homes that closed last month, and have made the list of top 50 producers in Boulder for Q1 2022. We actually just found out that our brokerage will be featured in "Real Producer" magazine next month. 

Having said that, thank you all dearly for your support, trust, and friendship. We truly love what we do would love the chance to make your next home or investment sale a successful and effortless one. Please hit one of the buttons in this newsletter to contact us or obtain a free home/investment valuation.

Market News: 
In market news, the biggest change is interest rates. With the hikes by the Fed last week, we saw a modest climb in real estate borrowing costs. In the table below, you can see how the purchasing power for a $3,500 per month payment decreases by 11% for just a one point hike. 
It is easy to see why there is such a frenzy to buy what little inventory there is as the certainty of rising rates continues. We get asked a lot if we have seen things slow down yet in Boulder, and honestly, from being on the frontline, the answer is no. Homes are selling faster than ever and on average for April, 9% over ask price. We are also seeing a lot of cash buyers winning over conventional purchasers due to the shorter timeframe of not having to deal with a bank's approval, and especially, the appraisal process.

What does this mean for you? It means that it's a great time to sell your home. Even if you have many uncompleted home projects or deferred maintenance items. Many people think it is not possible to purchase a home if they sell theirs; however, many sellers are using what is called a "Post Closing Occupancy (Rent-Back) Agreement" that will allow the Sellers enough time to stay in their home after closing to purchase another one. The entire process of finding and buying a home can be done in less than 60 days from start to close (this also happens to be the standard time for a "Rent-Back" agreement).

Other options available are month-to-month and short term rentals, as well as financing tools like HLOC's and "bridge loans". Please contact us if you have any questions on how these might work.

If you want to purchase a home, does this mean it is hopeless to buy a home right now? Absolutely not, however; what we have found is that you generally have to be willing to pay over asking price and also wave many of your contingencies (inspection, appraisal differences, and more). With our proven track record of winning contracts for our buyers this year, please contact us on competitive offer strategies. It's really not as scary as it sounds and can be done in a safe, risk-mitigated way. It takes a seasoned agent to navigate the current waters, so please put our knowledge and customer service to work for you.
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Local Numbers

For this month's edition of our newsletter, we thought it would be more helpful to see the various figures in a table format versus our normal graphs. We also added a year-over-year analysis in hopes to combat some of the misconceptions the media is projecting onto the Boulder area. We are always hopeful that a more balanced market is coming, however, given our findings this month, Boulder is very similar to last year, but with higher prices and lower Days On Market...
New Listings: we are up 22% for April and about 5% from last year. That is a hopeful indicator that more people are selling this year going into our busy season.

Average Percent of Original List Price VS Sold: This is always a fun one, especially right now with everything selling over list price. To put this in context, the average home in Boulder is $1.2M. At the current 9% figure, that would mean homes are selling $108K over ask on AVERAGE. In some cases, we have seen places go as high as 30% over!

Average Days On Market (DOM): Homes are selling on an average of 22 days. That is just on day shy of an aggressive 3-week closing. That is amazing for lenders to get their loans in so fast, and also an indication that many contracts are selling in cash.

Months Supply Of Inventory: We are up 33% this month and 14% from last year. That is good, but not enough for the 3-month supply needed for a balanced market. We are still under a 1-month supply and have been for quite some time. Per our local MLS (Multiple Listing Service) IRES, the last team we saw a supply of over 3-months was in July of 2019.

Average Showings To Pending: This data was interesting as it would indicate that less people are going out to see homes before they are going under contract. Perhaps buyer fatigue and fears of recession are finally starting to creep in, which might mean more opportunities for those looking to buy. 
Colorado Association of Realtor's Market Summary
How To Divert Water From The Home
We wanted to send a quick note that May is flash flood season, so we would like to remind everyone to clean out gutters and make sure that any and all water is being diverted away from your home. Here are a few ways to keep your home safe and dry.

Clean Your Gutters

This task is both simple and free. Start by cleaning near the downspout, then climb a sturdy ladder to inspect and clean the gutters along the edge of the roof. Reach into the gutter and pull out any leaves, twigs and other debris that may cause clogging. Use a trowel to get anything that is difficult to reach or grasp.After you pull out all of the gunk, flush the gutter. If the water flows through the gutter just fine but isn’t coming out the other end, you may have a blockage in the downspout. In that case, you may have to detach the downspout to work on it further. It is best to clean your gutters at least twice a year – when you prepare for the start of summer and as you complete your fall cleaning.

Extend Your Downspouts

It is recommended that downspouts are extended at least 6 feet away from the home to divert the path of water away from the foundation. If your downspout ends less than 6 feet from your home, add an extender. These devices easily attach to your existing downspout and typically cost less than $10.

Create A Rain Garden

rain garden helps collect runoff, slows it down and helps it filter into the ground. The garden consists of mulch, multiple layers of soil and plants that can tolerate wet environments.The garden should be the end destination of the water, so create one at least 10 feet from the home and make sure the yard slopes toward it.

Install A Rain Barrel

If you are unable to extend your downspout due to its location, a rain barrel could be another option. Instead of the water dumping onto the driveway or ground, it would dump into a rain barrel. The barrel would store the water until you can get rid of it, usually by reusing it to water your lawn. This is especially helpful in reducing your water usage and lowering your water bill. While many people store their rain barrels beneath their downspouts, you can also place the barrel anywhere water collects from overhead sources. If you decide to install a rain barrel on your property, make sure you place it on a flat surface that can hold the weight of a full barrel. You’ll also want to get a rain water diverter, which keeps mosquitos out and prevents debris from flowing into the barrel.

Seal The Driveway

If your driveway butts up to the side of your house, you can prevent water from getting into the space between the structure and pavement by creating a seal. The first step is removing as much debris from the space as possible. You can do this with a leaf blower or high-powered vacuum. Once cleaned, fill the crack with landscape foam. The foam will expand to fit the space and provide a seal between the pavement and wall. Since the foam expands, you may have to use a utility knife to cut across excess to make it level. Once the foam is level with the driveway, you’ll want to smooth tar caulk over it to create a flexible, waterproof seal.

Install A French Drain

A French drain collects water below the surface and transports it away from the home. Putting one in your yard involves digging a trench about 2 feet deep then lining it with water-permeable landscape fabric. Once the fabric is laid, add a few inches of gravel and lay down a drainpipe that is punctured with several holes. Once the pipe is laid, you’ll add more gravel on top, then add sod over it. While it sounds easy enough, it can be pretty labor intensive and will require you to rip up part of your lawn. You may want to consider hiring a professional.

Improve The Grading

Negative grading often occurs due to poor design, soil displacement or structural settling. Whatever the reason, you can fix the issue by re-grading your yard. If you only have a few problem areas, you may be able to get away with only fixing those spots. If you have major drainage issues or sloping problems in the majority of the yard, you may have to tear up your entire yard and start from scratch.

Either project will involve examining your yard, determining the degree of the slope, digging up parts of your yard and adding, removing or moving soil. Then, you’ll need to rake and till the ground before adding new sod. The scope of work will depend on how much of your yard you’ll need to regrade and how good you are at landscaping. Just like a French drain, this project requires a good amount of physical labor and is better left to professionals. As you work, you may want to consider also installing a French drain since your yard will be ripped up anyway. This will provide double-duty drainage.

Install A Sump Pump

A sump pump helps remove water from under your home’s foundation by collecting it in a sump basin (usually located under your house) and pumping it away from your home through a discharge pipe. You can pay to have a sump pump installed in your home, but be aware that this will require breaking through your basement floor and installing a pipe through your wall. We put in a sump pump at our home externally to divert water away from our basement. During the 2013 floods, we noticed water pooling quickly at our walk-out basement door and were fortunate to have a neighbor with a pump. We dug a makeshift well outside and pumped the water to the street. It actually saved our basement! Last summer we did an entire external renovation to prevent this from ever happening. If you have any questions on water diversion, please let us know and we can help! 

While some of these actions require little work and money, other bigger projects will require you spend some cash and hire a professional. If the drainage issue is a newer problem or you don’t notice any structural damage to the home, try the inexpensive options first. However, if the issue has been going on for some time, you’ve exhausted the other options, or you notice damage to the home, call in the professionals to inspect the home and provide the best solutions and pricing specific to your problem.

With the increase in wind and fire danger, now might be the time to up you home insurance. We just increased our rebuild cost to $350 PSF, which is actually low in Boulder (many builders are over $500 PSF). This was the most our provider could offer, and we were told by other that this is the max for most policies. Check with your current provider or contact us for some good contacts. 

As always, if anyone needs help right now with a loss of home, sale of land, or questions regarding insurance, please do not hesitate to reach out. We have helped numerous friends/clients and have many resources that can help.
Buy A Home

FOR SALE: 41 Navajo Nederland, CO 80466 
AND SUNDAY 11:00AM - 1:00PM

Come see this sun drenched chalet with million dollar views. This home sits at the top of Navajo Trail on the sunny side of Nederland with a full acre of land and every part has been redone (including: all NEW bathrooms, windows, fireproof Hardie siding (with Lifetime warranty), metal roof, heated gutter system, HVAC, all new flooring, fresh drywall and more). The downstairs was a separate rental from 1972 until 1991 when the current owners purchased the home with a separate entrance, gas, utilities, and more. Easily converted back if desired. You will not believe how much was spent to make this home bullet proof from the elements. Relax next to the new wood burning stove in an open concept floor plan and entertain guests inside or outside on the brand new deck. You will love this private oasis flourishing with character and wildlife. Fully mitigated for fires and walking distance to RTD, schools, downtown and more. Just minutes from Eldora Ski Resort and downtown Boulder.

SOLD: 780 Hartford Dr, Boulder 80305

Congratulations to our buyer who purchased his first home! It is such an amazing remodel in one of Boulder's main blueprints. The neighborhood, light, size, garage, landscaping is all amazing. It's truly one of a kind. 

Property Description
This understated Table Mesa home is sure to surprise & delight! A welcoming covered front porch and xeriscape front yard set the tone. Not your typical bi-level, this quality home has been expanded, remodeled and features beautiful foothills views, large light-filled bedrooms, vaulted ceilings, a spacious study w/built-ins, an oversized (25x29 2-car+ garage with room for all your toys & so much more. Enjoy radiant heat in remodeled master bath. Fantastic private backyard with deck, flagstone patio, benches & walls, gas-connected fire pit, vegetable gardens, backs to farmer ditch! 4.2 KW solar is owned. Great location near renowned SOBO schools, shopping & restaurants, rec center, hiking trails! Love where you live!!

Under Contract: 910 Spruce St, Boulder 80302

We are so fortunate to have timed the contract on this property right after it went on the market. We are thrilled for our buyer and just absolutely love this home. It is the perfect fit and in the heart of downtown. You can literally walk anywhere and has 3 deeded parking spaces downtown! CLOSING ON MAY 20TH.

Property Description

Cute home in West Boulder one block off Pearl Street built in 1870 on a nice large lot. Home is mostly in original condition and could use a remodel or an addition for more living space. The lot has 3 parking spaces off the alley and a barn/garage. There is a deck with fenced off area for more privacy along with a cure white picket fence. Home offers unlimited potential with a natural landscaping with lots of flowers, couple of apple trees and a grape vine. Lot could possible have an ADU added. Walkable to Lolita's Market, coffee shop, the Boulder Book Store, fine dining, ice cream shops and so much more. Hiking and biking trails nearby and easy access to the mountains.

CLOSING MAY 24TH!: 6628 S White Crow Ct Aurora, 80016

Congratulations to our buyers for selling their current home (off-market) and getting a 2 month lease back to allow time for the build to be finished next month. 
Property Description:
One of the neatest communities in Denver. Vista Point at Southshore combines resort-style living with close proximity to the magnificent Aurora Reservoir, exclusive amenities, top-rated Cherry Creek Schools, and luxury single-family homes.

Under Contract Prairie Village Villas, LONGMONT, CO

Congratulations to our buyers for finding a lot in this wonderful community. Here are some highlights:
  • Located 2 miles from downtown Longmont
  • Low-maintenance paired homes with private side yards
  • Zoned for top-rated St. Vrain Valley Schools
  • Near golf courses, shopping, dining, neighborhood parks and trails
  • Easy access to Hwy. 66 and I-25
  • Close to Union Reservoir for boating, kayaking and swimming
If you have any questions about buying a new construction home, please contact us.

SOLD: 915 Lawn St, Boulder 80303 $2,525,000

Property Description:
Enjoy lovely single-level living and total serenity in this beautifully updated five-bedroom, four-bathroom one level home sited on a flat one-acre parcel just a block from Baseline Reservoir's beach entrance. A courtyard entry invites you inside this 3,434-square-foot mid century charmer filled with hardwood floors, recessed lighting and sunny windows throughout. Gourmet open kitchen features a great center island. Beautiful primary bedroom suite, along with three more bedrooms all on the same


Here are the most recent rates published by our preferred lender, Lisa Higdon at BW Mortgage:
Conventional 30 year – 5.5%
Conventional 15 year- 4.875%
Home Ready- Home Possible 30 year- 5.625%
Freddie Mac Borrow Smart5.75%
FHA 30 year- 4.75%
FHA 15 year- 4.5%
USDA  30 year- 5.25%
VA 30 year- 4.75%
Jumbo 30 year- 5.375%
Jumbo Arm 5 year- 4.875%
Jumbo 30 year with Interest Only- 5.625%

(rates are quoted with 800 credit score, 80% LTV, Primary Home, 550k Sales Price with 440k Loan Amount with no origination and no points, Jumbo is quoted at 1million with 800k, call for specific scenario’s and borrower origination paid, discount upfront options)
Investment Rates
Conventional 30 year on Investment- 6.5%
Conventional 15 year on Investment- 5.875%

(rates are quoted with 800 credit score, 80% LTV, Investment Home, 550k Sales Price with 440k Loan Amount, call for specific scenario’s and borrower origination paid options)

News and Products
  • Freddie Mac opening credit box, more approvals expected through this program
  • Fed Raised interest rates by .5 which was better than the .75 expected
  • Florida Loans to be available soon
For questions on lending, we recommend Lisa Higdon.  Feel free to call her at 720-290-8305 and/or start the application at
We are proud of our boutique brokerage company and ability to win contracts and provide exceptional service in this unbelievably competitive market. With almost all of Boulder's Brokerages being national and big brands, we are one of the few small, family-owned, local real estate brokerages left. We promise to provide you exceptional service and complete knowledge of the local market place.

Please contact us any time and, as always, thank you for choosing us as your trusted real estate experts!
Sandrock Real Estate
Real Estate Professionals
Office: 720.704.1769
Mobile: 303.249.5599
[email protected]
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This email is for informative purpose and not the intent to solicit current offerings of other real estate agents. I promise to provide honest, professional and courteous real estate services. The information provided in this email represents data from the MLS (multiple listing service) known as IRES and REColorado and the Colorado Association of Realtors.


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