Landmark Moment: Company Announcement

On Tuesday, August 10, 2021, Colorado Landmark, Realtors’ Founder, Joel Ripmaster welcomed his daughter, Orly Ripmaster as the incoming President and Co-owner of the company, as well as Scott Ripmaster the new Vice President and Head of Recruiting.

Joel hosted a spirited transition announcement at Folsom Field, in the heart of The University. It felt fun and appropriate to kick off the announcement at this significant venue, as it’s been an integral part of his and his family’s lives. “As we lean into local, what could be more local than being right here in the heart of the buffalo!” – Joel Ripmaster

Colorado Landmark, Realtors’ story began in 1977, shortly after founder Joel Ripmaster, graduated from the University of Colorado Boulder, where he played football for the University of Colorado Buffaloes. Where he would spend his time hiking from campus to Chautauqua Park with his college sweetheart and later to be wife. The two young Midwestern students would walk and daydream about one day owning a home in Boulder, starting a family and a business, and spending a life here. Joel fell in love with Boulder, his wife, and residential real estate and what it represented to his young family. 

Over the last 45 years, Joel has committed to being a coach and mentor, and committed to Boulder. Colorado Landmark felt being independent and local is more important and sought after than ever before. “What we have built can’t be replicated!” Being one of the top independent agencies in the country is a huge accomplishment. With that, Joel realized that he needed a partner. A partner who can table the future while honoring the past and has the capacity, the drive, and desire to take the long view. He found his partner… A fellow real estate executive with 20 years experience in Real Estate and Private Equity, with an MBA in Real Estate from ESSEC Business School in Paris, France, Ivy League credentials with an honor’s degree from Harvard, and a Master’s in communications from the University of Colorado.  An athlete, a scholar, a Mom, a daughter and a Real Estate executive. She is joining the team as the retiring Senior Vice President and Chief of Staff of KSL Capital Partners. 

“I am humbled that she would ever consider leading this organization. Partnering with my daughter to establish a sustainable succession plan that ensures the DNA of Colorado Landmark, Realtors for years to come.”

Orly will strategize, modernize and bring vitality to the day-to-day operations and management of the business. Joel will continue to work shoulder-to-shoulder with Orly and will remain the Founder of Colorado Landmark, Realtors and named Principal of the organization. As Principal, Joel will remain to build and mentor the team and brand with his foundational knowledge and expertise, as well as manage and grow his own luxury sales. With 15 years in the business, Scott will bring fresh energy to our recruiting team and management to the Louisville location. His expertise and authenticity will be such a powerful accelerator for the brand and the voice. Colorado Landmark prides itself in being a local, independent, family-oriented real estate firm and is now female owned.

“We talk a lot about Landmark Moments and this week’s announcement was certainly amongst the most significant landmark moments in my career. It’s a really exciting time to be at Colorado Landmark. We will be leaning into our brand, galvanizing our messaging and and celebrating the power of our new positioning: Local, Independent, Family Built, Female Owned. Needless to say, I am so proud” – Founder, Joel Ripmaster


Announcing the 2020 Real Trends Superstars

The 2020 Real Trends Rankings have been released, and Colorado Landmark has some superstars on the list!

 

America’s Best Real Estate Professionals honors America’s finest real estate agents from all across the country! Over 18,000  U.S. real estate sales associates from every state are featured in America’s Best.

Those ranked are among the top 1.5% of 1.4 million real estate professionals in the United States!


 

Marybeth Emerson – #1 INDIVIDUAL IN BOULDER and #37 individual in Colorado by Volume

 

 


 

 

Kim Thompson Group – #8 SMALL TEAM IN BOULDER and #43 small team in Colorado by Volume

 

 


 

 

The DRF Team – #1 MEDIUM TEAM IN BOULDER & NIWOT and #19 medium team in Colorado by Volume

 

 


The entire list of winners from all over the country can be viewed here

 

Landmark Moment: Colorado Landmark, Realtors VP & Agent Jennifer Fly Serves as a Panelist at Luxury Portfolio International’s REimagine Conference

Colorado Landmark, Realtors Vice President and Agent  Jennifer Fly  recently presented at Leading Real Estate Companies of the World and Luxury Portfolio International’s  REimagine Conference. 

With over 20 years of experience in real estate, Jennifer is recognized as an industry expert, and served as a panelist on the main stage at the Wynn in Las Vegas. The session she spoke in was dedicated to helping agents from all over the world understand how to best prepare their buyers to win during multiple offer situations, a scenario our industry is experiencing now more than ever, given current market conditions.

As a firm, we are grateful for Jennifer’s leadership and guidance when it comes to creating Landmark moments in the lives of our clients, agents, and staff!


Top Home Sales: Featuring Marybeth Emerson & Kimberly Thompson

By Lily O’Neill
Five months after it sold for $6 million in November, this Boulder home sold again in April with a price tag of $6.4 million. (Courtesy of Colorado Landmark-Boulder)

 

Colorado Landmark, Realtors agents Marybeth Emerson and Kimberly Thompson were recently recognized by BusinessDen’s Top Home Sales list for the sale of 2299 4th Street in Boulder. 

 

An excerpt from BusinessDen: 

 

2299 4th Street, Boulder: $6.4 million

Listing agent: Marybeth Emerson, Colorado Landmark-Boulder
Buyer’s agent: Kimberly Thompson, Colorado Landmark-Boulder

Five months after it sold for $6 million in November, this Boulder home was back on the market again. The 5,365-square-foot home is located in the heart of Historic Mapleton Hill and was once featured on the cover of Luxe Architecture & Design Magazine. The five-bedroom, four- bathroom house offers surrounding views of the Flatirons, Red Rocks and Mt. Sanitas, according to the listing.


 

Property Value Assessments & Appeals 2021

The Boulder County Assessor’s Office has completed its biennial reappraisal of all property in Boulder County. Notices of valuation are mailed to property owners on Saturday, May 1. If you are a homeowner, you should have received yours by now, and it has most certainly gone up in value!

This is based on the upward trend the real estate market has been experiencing, more than usual, for the past two years. However, this does not mean you shouldn’t appeal. Appeals are due by June 1st this year, and can be submitted online, mailed electronically or physically, or faxed.

Every odd year, county assessors in Colorado are required to reassess properties within their jurisdiction and determine the market value for each property as of June 30 of the prior year.  Therefore, this year’s reappraisal cycle is based on market values as of June 30, 2020. 

In Boulder County, there has been a positive change in values for residential properties overall. The median percent increases for residential type properties in this appraisal period is 11%.

For 2021 Reappraisal of Single Family Residences, click Here.

For Boulder County Residential Values, click Here.

If you wish to appeal the determined market value of your home or commercial property, Appeal Your Property Value Here.

Whether you need help researching home value within the above time period, or are wishing to deepen your understanding of how and why this process occurs, please reach out to us via phone at 303-443-3377 or email. We are here to offer you, our neighbors, with any assistance you may need!


 

Top Agent Magazine Features Candace Loving

Top Agent Candace Loving – of Colorado Landmark, Realtors in Boulder, Colorado – is a truly dedicated real estate professional who consistently provides her many clients with the very best customer service possible. Specializing in farms, ranches, land and residential luxury properties, Candace has built an impressive business on a sturdy foundation of honesty, integrity and deep industry knowledge, and has more than earned her reputation as a trusted, caring real estate advocate.

Candace began her journey in the world of real estate in 1990, initially working with her father on some of his development projects prior to taking on her own. After finding great success in that area, Candace obtained her real estate license in 2007, and the rest is history. Serving a wide swath of the Centennial State, Candace can currently claim that the lion’s share of her business is based upon referrals from past clients, positive word of mouth, and her reputation as an expert in the ranch, farm and land sales sector.

“I think it’s because I truly care about my clients,” says Candace, when asked how she has managed to achieve such impressive levels of trust and loyalty amongst those she works with. “I sincerely care, and it’s my compassion for them that really drives me. I think they feel very supported and know that they can count on me to have their best interests at heart. Also, treating people fairly is very important to me.”

In addition to her extensive development, investment, construction and design knowledge that provides her clients with extra value, there are many factors that come into play when assessing Candace’s impressive and ever-growing success story. Chief among them would be her expertise on water rights and title issues as well as negotiating skills and thorough, intelligent marketing strategies that maximize exposure for her many listings, translating into fast sales for top dollar, not to mention happy – returning and referring – clients.

Candace, who hold a perfect, five-star over-all rating on Zillow.com, truly enjoys what she does for a living. “I love helping my clients,” she says. “I love learning new things about the real estate industry, and I like being challenged and being a problem solver for my buyers and sellers.” Just one of many glowing reviews she has received reads in part: “Candace was the perfect agent for me and my situation. She was patient and supportive in the initial stages with my house hunting and decision making when I was still sorting out the best path forward and determining what the best solution was for my needs. When it came time to make an offer, she was extremely responsive which allowed me to secure my dream home in the incredibly competitive Boulder market… I highly recommend Candace.” 

When she’s not busy making her clients happy, Candace enjoys spending time with her daughters and friends, and she enjoys horses and skiing. She also loves to travel, particularly to the south of France.

Looking to the future, Candace’s plans include becoming licensed in Wyoming, and to continue building her already-thriving business. Above all, however, remains her longtime commitment to providing each and every one of her clients with the unparalleled customer service that has long been her calling card.


Candace Loving

REALTOR®

303-332-4530

CandaceLoving@gmail.com


 

3 Reasons We’re Definitely Not in a Housing Bubble

from Keeping Current Matters

Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.

 

1. This time, housing supply is extremely limited

The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.

In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a  sellers’ market  in which prices normally appreciate.

Between 2006 and 2008, the months’ supply of inventory increased from just over 5 months to 11 months. The months’ supply was over 7 months in twenty-seven of those thirty-six months, yet home values continued to rise.

Months’ inventory has been under 5 months for the last 3 years, under 4 for thirteen of the last fourteen months, under 3 for the last six months, and currently stands at  1.9 months  – a historic low.

Remember, if supply is low and demand is high, prices naturally increase.

 

2. This time, housing demand is real

During the housing boom in the mid-2000s, there was what Robert Schiller, a fellow at the Yale School of Management’s International Center for Finance, called “irrational exuberance.” The  definition  of the term is, “unfounded market optimism that lacks a real foundation of fundamental valuation, but instead rests on psychological factors.” Without considering historic market trends, people got caught up in the frenzy and bought houses based on an unrealistic belief that housing values would continue to escalate.

The mortgage industry fed into this craziness by making mortgage money available to just about anyone, as shown in the  Mortgage Credit Availability Index  (MCAI) published by the Mortgage Bankers Association. The higher the index, the easier it is to get a mortgage; the lower the index, the more difficult it is to obtain one. Prior to the housing boom, the index stood just below 400. In 2006, the index hit an all-time high of over 868. Again, just about anyone could get a mortgage. Today, the index stands at 122.5, which is well below even the pre-boom level.

In the current real estate market, demand is real, not fabricated. Millennials, the largest generation in the country, have come of age to marry and have children, which are two major drivers for homeownership. The health crisis is also challenging every household to redefine the meaning of “home” and to re-evaluate whether their current home meets that new definition. This desire to own, coupled with historically low mortgage rates, makes purchasing a home today a strong, sound financial decision. Therefore, today’s demand is very real.

Remember, if supply is low and demand is high, prices naturally increase.

 

3. This time, households have plenty of equity

Again, during the housing boom, it wasn’t just purchasers who got caught up in the frenzy. Existing homeowners started using their homes like ATM machines. There was a wave of cash-out refinances, which enabled homeowners to leverage the equity in their homes. From 2005 through 2007, Americans pulled out  $824 billion dollars  in equity. That left many homeowners with little or no equity in their homes at a critical time. As prices began to drop, some homeowners found themselves in a negative equity situation where the mortgage was higher than the value of their home. Many defaulted on their payments, which led to an avalanche of foreclosures.

Today, the banks and the American people have shown they learned a valuable lesson from the housing crisis a little over a decade ago. Cash-out refinance volume over the last three years was less than a third of what it was compared to the 3 years leading up to the crash.

This conservative approach has created levels of equity never seen before. According to Census Bureau  data,  over 38% of owner-occupied housing units are owned ‘free and clear’ (without any mortgage). Also, ATTOM Data Solutions just released their fourth quarter  2020 U.S. Home Equity Report,  which revealed:

“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value…The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States.”

If we combine the 38% of homes that are owned free and clear with the 18.7% of all homes that have at least 50% equity (30.2% of the remaining 62% with a mortgage), we realize that 56.7% of all homes in this country have a minimum of 50% equity. That’s significantly better than the equity situation in 2008.

 

BOTTOM LINE

This time, housing supply is at a historic low. Demand is real and rightly motivated. Even if there were to be a drop in prices, homeowners have enough equity to be able to weather a dip in home values. This is nothing like 2008. In fact, it’s the exact opposite.


 

Market Updates & Listing Outreach from CLR Agent Phil Booth

We are in a VERY UNIQUE WINDOW right now, which reinforces that there may not be a better time to sell than the second quarter of 2021!

We are currently in an extremely strong sellers market.  There is very little housing inventory (low supply) and an abundance of buyers (high demand).   This situation is a direct reflection of concerns around COVID and super low mortgage interest rates.  These factors are colliding to create a ‘perfect storm’ for sellers.

To explain concisely, there are two forces at play:

1. SUPPLY (SELLERS) – There are many would be sellers who have chosen to hold tight over the past year and not sell because of COVID.  They simply do not want to open their homes up to buyers!  As such, we have had and continue to have historically low inventory.

2. DEMAND (BUYERS) – There is super high buyer demand based on COVID… there is a dramatic influx of people moving from denser population centers to the area, there are many people who, having spent more time than ever at home over the past 12 months, have realized that their current home does not meet their needs  Couple these factors with the fact that money is ‘cheap’ at present… people looking to capitalize on historically low interest rates.

THE RESULT.  When properties come onto the market that are well prepared, well presented, and well priced, we are seeing extremely high showing demand and multiple offers, at well above asking price.   This phenomenon is causing rapid appreciation.  In the last 12 months in Boulder County we have seen appreciation of up to 20% for single family homes and 10% for attached dwellings.  And, this pattern is continuing stronger than ever here in 2021, with 2% appreciation per month in certain areas and price points!

However, this supply and demand imbalance is likely to balance out in the second half of 2021. WHY?

1. SUPPLY – As we see higher vaccination rates (hopefully by mid summer) home owners will feel less wary about COVID and will feel more comfortable about selling, and will be HIGHLY motivated to realize the rapid appreciation they have seen in their homes.

2. DEMAND – We are likely to see interest rates creep up, which will cause buyer demand to wane somewhat.

It is still promise to remain a Sellers’ market, but not to the degree of imbalance we are seeing at present.

Hence, the second quarter of 2021 is a fantastic opportunity to sell and realize the benefits of  THE PERFECT STORM!

Phil Booth

REALTOR®

303-817-8307

Phil@ColoradoLandmark.com

 

Landmark Moment: SRQ Magazine Features CLR Agent Anja Deichmann

At Colorado Landmark, Realtors, we recognize that each home, buyer, and seller has a unique story, as do our agents that represent them. CLR agent Anja Deichmann is no exception: she is a top agent that splits her time between Sarasota, Florida and Boulder, offering her clients a diverse and dynamic perspective when it comes to finding the perfect place to call “home.”

Click  here  to read SRQ’s entire feature on Anja in the magazine’s latest digital publication, which can be found on page 3.


 

Spring 2021 Buyer, Seller + Millennial Guides Are Now Online

Great news! Spring 2021 Buyer & Seller Guides are now available! Both Guides speak of present, crucial information about today’s housing market in an easy-to-understand way.


Seller Guide

Selling your house when the fewest number of homes are available to buy is what puts you in the driver’s seat. With today’s high buyer traffic and low inventory of houses for sale, this power combination makes now the optimal time to sell, if you’re ready. Whether you want to move-up or downsize, here’s the breakdown on supply and demand and why this imbalance in the current housing market positions this season as the optimal time to make your next move.

 

Buyer Guide 

The housing market recovery has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause last year is playing out extremely well for real estate, so it’s an ideal time to buy a home for those who are ready to make a purchase. Here’s a dive into some of the biggest wins for homebuyers this spring.

 

Millennials Guide

If you are one of the millions of millennials who has seen their peers begin to buy homes recently and are wondering what it would take for you to do the same… you’ve found the right eGuide!

There are many stereotypes and myths about the millennial generation as a whole, AND about what it takes to buy a home in today’s market. These myths have prevented many millennials from even considering homeownership as an option for them and their families.

The goal of this eGuide is to provide you with the information you will need to make the best decision for you and your family in regards to homeownership. We will break down the myths and stereotypes that have long been believed to be true, as well as shed light on the opportunity you have to build wealth using your monthly housing cost.