"For many people in our community and country, the pandemic was a tipping that caused them to visit a food pantry for the first time," says Burgess.  "We saw an opportunity to help. 2.5 miles from downtown Boulder lies in an oasis, the Mackenzie Farm. As the seller's representative, I approached the owners of this fertile but fallow 80-acre property and inquired, 'Can we put this land to use for our community?' There are a lot of people in need in Boulder and Broomfield County, over 46,000 people."

Burgess Realty Group partnered with Mackenzie Farm, Boundless Landscapes, Earth's Table and, most especially, Community Food Share on the project.

The Food Security Project in Boulder, Colorado

As a longtime supporter of giving back to the community, Burgess Group | Compass financially supports 14 local and national charities yearly (detailed here). Additionally, Catherine currently serves on the board of directors for the Museum of Boulder and P.E.O., with past board positions in local PTAs, the Unitarian Universalist Church of Boulder. She promotes female entrepreneurship and leadership with SheEO and Emerging Women.

For more information, please contact Catherine Burgess at 303.506.5669 or catherine@burgessgrouprealty.com

Catherine Burgess is the exclusive agent representing the Boulder, CO real estate market as a member of the Haute Residence Real Estate Network. View all of her listings here.

The post Burgess Group Realty Expands Beyond Real Estate: The Food Security Project appeared first on Haute Residence by Haute Living.

Looking back at Boulder Real Estate in 2020, January and February performed very similarly to how they did in 2019, 2018, and previous years. March began in quarantine which lasted into May. During that time, the volume of our transactions decreased by 50% but remained fairly robust compared to the rest of the nation. We had 50% fewer new listings that came to market and 50% fewer under contracts. However, incredibly, our under contracts and new listings met each other and our sell-through rate remained consistent with what we have seen in previous years. This demonstrates the immense stability of the Boulder County market.

Looking forward into 2021, we know that a huge quantity of buyers that have been on the sidelines waiting for inventory will hit the ground running as soon as inventory increases in January. Sellers are trying to get to market much earlier than we have seen in previous years, and it is anticipated that the quantity of demand will still outstrip the quantity of supply and prices will accelerate in response. 

However, we expect that around mid-year prices will ease as more and more sellers continue to come to market. Additionally, we'll see housing starts that began last summer get finished and come to market which will also aid in the easing of strong price acceleration come the second half of 2021.

Buyers, keep in mind that while it can be challenging to find a property, The Burgess Group has been getting 1 or 2 buyers PER WEEK for years and we have yet to see this change even in times of great inventory shortage. In fact, it is still possible to find great deals.

Oftentimes there are properties that the market has overlooked and pockets of inventory in little corners of town that are, for whatever reason, in oversupply. As a result, these areas may function like a buyer's market in this overall broader sellers market. Don't lose hope. It's a good time to be a seller, but under the right conditions, it can also be a great time to be a buyer.

We are anticipating that the migration we saw begin in 2020 will continue into 2021 as people move from densely populated areas into the smaller cities, such as Boulder, that have a perceived terrific quality of life with more space and room to breathe.

Overall, the general anticipation is that sales volume will continue to rise, just as it did in 2020,  another 7% to 10% in 2021. We look forward to seeing sellers bring their inventory to meet that demand. If you’re interested in exploring more data, you can read our newsletter here.

If any of us at Burgess Group | Compass can answer your real estate questions or be a resource in any way, please reach out. We’d love to help you meet your financial and real estate goals in the new year.

For more information, please contact Catherine Burgess at 303.506.5669 or catherine@burgessgrouprealty.com

Catherine Burgess is the exclusive agent representing the Boulder, CO real estate market as a member of the Haute Residence Real Estate Network. View all of her listings here.

Catherine Burgess

Photo Credit: Courtesy of Burgess Group Reatly

The post Catherine Burgess Talks Boulder Real Estate In 2020 And Expectations For 2021 appeared first on Haute Residence by Haute Living.

They were hosted by Haute Living's Erik Haase. Watch the webinar below

About today's panelists:

Catherine Burgess is Founder of Burgess Group of Compass in Boulder, one of the top producing teams in the state of Colorado.

David Welles is the top listing and sales agent in Wellington, FL equestrian community since 2015, with over $100 million in current listings.

Highlight quotes:

Catherine Burgess: "The luxury market really picked up in May, and has been very comfortable. It's not the same in terms of inventory and under-contracts every week, but fairly balanced... Currently, we have had three weeks [that has led to] a healthier spot than we were at this point in 2019... We typically have a few people coming from Houston, Dallas, and Austin. Now, we have them from D.C., Boston, New York, Chicago, San Francisco, and a little bit from Seattle; pretty much all the dense places... For our sellers, we are drawing buyers who may not be here before they close... There has been huge progress in how we can best assess people so they feel they have the green light to move forward... We are keeping our eyes on what our clients need to feel well-served."

David Welles: "The summer season usually slows down for us, but this year was different. We have had a record year to date, people wanting to move out of the cities, not only because of the Coronavirus but the tax breaks. The market here is very strong for luxury homes and equestrian farms... Most of my buyers are cash buyers, but some of them are looking at how record lows of cost of money is, with a 2.5-3% interest rate for a $10 million property [for example]... The luxury market here is strong in the $1-5 million range... Properties are going for record prices... We have been able to reach out to other agents around the country and become a tight group with a lot of referrals going back and forth. That's going to keep us stronger as we get through the pandemic."

To watch more real estate webinars curated by Haute Residence, visit dev.hauteresidence.com.

Catherine Burgess, David Welles

The post Watch: “Coast To Coast” Real Estate Webinar #5 By Haute Residence appeared first on Haute Residence by Haute Living.