Tag Archives: Housing Helpers Real Estate

Boulder County Real Estate CEO Roundtable With Stephanie Iannone

Boulder home market ‘healthier’ as appreciation rate declines

Courtesy of BizWest Media

BOULDER — The rate at which single-family homes appreciate in Boulder is slowing down, and more homes are becoming available on the market, pointing to a “healthier” residential market in the city by the Flatirons.

DB Wilson, broker associate with Re/Max of Boulder, said the rate at which home prices have appreciated has dropped from 14 percent a year ago to between 5 percent and 6 percent now.

“That’s healthier,” he said, but added that there isn’t much available for sale below $550,000 in Boulder.

“We’ve lost the low end,” he said during BizWest’s CEO Roundtable on real estate and construction held Tuesday at the offices of Berg Hill Greenleaf & Ruscitti LLP.

He said the number of home sales are up, the time on the market is shorter, and the market still favors sellers, pointing out there is about 3½ months of inventory, still below the ideal six months of inventory.

Wilson said home prices historically appreciate steeply in four-year cycles.

“We are in the last year of a four-year period,” he said. “But I don’t expect prices to go down … they will likely level off.”

The median home price in Boulder exceeded $1 million in May, and was in the high $900,000s in June.

Stephanie Iannone, owner and managing broker of Housing Helpers, said the number of offers a seller may expect is declining.

“Higher prices are making it harder to qualify for a mortgage,” Iannone said. “Only 26 percent of the inventory is below $400,000 in Boulder County.”

David Sinkey, president and CEO of homebuilder Boulder Creek Neighborhoods, has found his sweet spot — building ranch-style homes for empty nesters in the $300,000 to $400,000 range.

“We can’t build enough product,” he said. But he is also finding success in building and selling homes for active adults that command $900,000 to $1.2 million.

Sinkey agreed with Wilson that there is no good answer for dealing with affordability.

Cost of construction, rising taxes

The problem facing homebuilders — and commercial developers — is the rising cost of construction.

In the commercial sector, it is affecting lease rates for tenant finishes of commercial and industrial buildings, as are increasing property taxes driven higher by assessed building valuations.

Jorge Espinoza, broker associate and principal at The Colorado Group, said several factors are affecting the increasing cost of making improvements for tenants tenant finishes made by landlords — lack of skilled labor, increased material costs and the city of Boulder’s new energy code. The code, Espinoza said, requires landlords to bring an entire building to the new code when the project reaches a certain percentage of a building’s assessed value.

Some of these improvements are not being done if tenants aren’t willing to absorb the added cost in the lease.

“It’s creating a big struggle in negotiating, Espinoza said. “It all depends on what the landlord is willing to do — sometimes, it’s take it or leave it.”

Lynda Gibbons, CEO of Gibbons-White Inc., said those taxes can reach $5 per square foot, and the city’s parking requirements for a new project can add $2 to $3 per square foot to a lease.

Gibbons, who was an investor in and handles leasing for Pearl West, a mixed-use development in downtown Boulder, said the city’s push to “make (industrial) parks more fun” by incorporating more amenities in the parks such as restaurants, coffee shops and places for social meetups is “weakening the core.”

Becky Gamble, CEO of Dean Callan & Co., said park owners have benefitted from this. “That’s where smaller companies can go when they can’t afford to be downtown anymore.”

Jeff Wingert, president and chief operating officer of W.W. Reynolds Cos., said subleasing office and industrial space has been in a slowdown mode for at least a year, but sees signs of life.

“East of 28th Street, there has been a fair amount of activity picking up the last two to three months,” Wingert said.

Developing industrial buildings on speculation is paying off for most right now.

Developers are leasing-out spec buildings before they can complete them in the Colorado Technology Center in Louisville.  Andrew Freeman, principal of Freeman Capital Management, said he expects the park to be built-out in the next couple of years.

Keith Burden, principal and managing broker of Burden Inc., said his company’s new light-industrial building in Gunbarrel designed for smaller companies leased out quickly, adding that lease rates for industrial space has hit a new high.

Chris Jensen, principal of Vista Commercial Advisors Inc., said not all builders can gain the financing needed because of increased building costs.

“Lenders and builders are having a harder time agreeing on projects,” Jensen said. “Cost of construction along with increased cost of building permits in many cities, as high as $50,000 per house, creates a challenge. … It’s blowing up deals.”

Sinkey added that new codes requiring fire-suppression systems can cost $10,000. “I don’t see that coming down,” he said.

Reshaping the shopping center

The type of brick and mortar retail businesses in shopping centers is making a monumental shift, moving from soft and hard goods to food and entertainment venues.

“Food is the new anchor category,” said Allen Ginsborg, managing director and principal at NewMark Merrill Mountain States, the group that converted the enclosed Twin Peaks Mall into The Village at the Peaks, an open-air center that is predominantly made up of eateries and entertainment.

Another prime example is the Village at Burlington shopping center in Longmont. At one time, its two anchor tenants were an Office Depot and a Sports Authority sporting-goods store.

It now has as anchors, The Wild Game, an entertainment center that includes bowling, a bar, arcade and live music space, and The Jump Craze, an indoor trampoline park that will open in mid-August, said Burden, who owns and manages the Village at Burlington.

While Ginsborg said retailers are in a state of reconsolidation,  Stephen Tebo, founder and owner of Tebo Development, hasn’t had a problem keeping his retail properties totaling 350,000 square feet leased. He said he has only two spaces vacant, one of 1,400 square feet and another of 1,700 square feet.

“There isn’t a lot of retail being built,” Tebo said. “There has been turnover of prime spaces. We had five open up within two blocks of each other, but we were able to fill them fairly quickly.”

Participants

Keith Burden, principal/managing broker, Burden Inc.; Jorge Espinoza, broker associate/principal, The Colorado Group; Andrew Freeman, principal, Freeman Capital Management; Becky Gamble, CEO, Dean Callan & Co.; Lynda Gibbons, CEO, Gibbons-White Inc.; Allen Ginsborg, managing director/principal, NewMark Merrill Mountain States; Stephanie Iannone, owner/managing broker, Housing Helpers; Chris Jensen, principal, Vista Commercial Advisors Inc.; David Sinkey, president/CEO, Boulder Creek Neighborhoods; Stephen Tebo, founder/owner, Tebo Development Co.; DB Wilson, broker associate, Re/Max of Boulder; Jeff Wingert, president/COO, W.W. Reynolds Cos. Moderator: Christopher Wood. Sponsors: Justin Dodge and Liz Castro, EKS&H; George Berg, Becky Rigo and Peter Schaub, Berg Hill Greenleaf Ruscitti.

 

Boulder County Real Estate

Housing Helpers Real Estate Team

Housing Helpers Colorado Named Top 100 Woman Owned Business!

We are proud to announce that Housing Helpers led by owner Stephanie Iannone has been named to the Top 100 Woman Owned Businesses in Colorado for the 7th consecutive year.  Ranking 49th on the list, Housing Helpers is a real estate and relocation services company with headquarters in Boulder Colorado.

With Iannone at the helm, Housing Helpers is celebrating another important milestone this year as well, its 30th year in business. The company has grown over the years, starting as a small rental locating office in Boulder Colorado, to now handling national and international real estate, corporate housing, and relocation business for Fortune 500 companies.

I am thrilled to be recognized as one of the Top 100 Women Owned Colorado Companies. I’m grateful to the entire Housing Helpers team and to our wonderful clients. This is truly an honor. – Stephanie Iannone, Housing Helpers Owner

At the heart of all Housing Helpers services is the company’s values simply stated in its tag line, “helping people connect with places”.   The company is a “one-stop-shop” for corporate HR managers, Travel and Recruiting Directors, and Corporate Executives to handle all of their housing needs from rentals, to home purchase, and temporary housing.  

“What sets Housing Helpers apart is its diverse offering of services to handle the full life cycle of housing needs for its clients.  We work very hard to take the burden of employee housing off the shoulders of corporate executives which creates tremendous value for our clients”  – Stephanie Iannone, Housing Helpers Owner    

Housing Helpers core services include Corporate Housing, Rental Locating, Real Estate, Relocation Services, and newly added to the portfolio this year is Property Management.

For more information contact Housing Helpers at 303-545-6000, www.housinghelpers.com

View the full list of the Top 100 Woman Owned Businesses Here:  https://cobizmag.com/List%20top%20100%202017%201-100.pdf

Housing Helpers Real Estate Team

Housing Helpers achieves 30-Year Milestone in Boulder

Housing Helpers will be celebrating 30 years as a Boulder business in 2017. The company was founded by a University of Colorado student who saw the need for a better way to match roommates. It has grown over the past 30 years into a full-service real estate and relocation services company offering integrated housing solutions, always emphasizing friendly personal service provided by local professionals who are committed to the communities where they live and work.

Housing Helpers differentiates itself from other real estate companies through the synergy its real estate, rental, corporate housing and leasing services offer customers. No matter what the real estate need is, Housing Helpers can help.

The owner of the Boulder franchise, Stephanie Iannone, has been a leader in the Boulder community for many years. She currently serves as the Chair for the Boulder Chamber and has also held Board positions with the Boulder Area Realtor Association, IRES, and the Boulder Area Rental Housing Association. She has received numerous awards and recognition for her expertise, including Distinguished Realtor of the Year (from the Boulder Area Realtor Association Magazine), Top 25 Most Powerful Salespeople in Colorado (from COLORADOBiz Magazine), and 40 under 40 emerging business leaders (from BizWest).

In the 23 years she has led Housing Helpers, Iannone’s passion has always been to help people. One of the highlights of her career was partnering with the City and County to find housing for people displaced in the 2013 floods. She is also proud of her team at Housing Helpers, which is an extension of her family. Their focus is to help people and serve their customers, and they also have a good time together. At their annual yearend party, they read letters from customers whose lives they have touched by helping them with one of the most important aspects of their lives – their home.

Interview with a client

Ellie Duncan of Arvada is a three-time client of Housing Helpers. “We were introduced to Housing Helpers when we were living outside Philadelphia, Pennsylvania, and my husband was being relocated by his company to Colorado. Stephanie Iannone provided the relocation services, and we bought a house in Arvada. We had owned a number of houses already, and we both felt she was the best Realtor we ever used.”

When they next moved – from Colorado to South Carolina – they had Stephanie sell their Arvada home. “And now we’re back in Colorado and she found us this house, in the same neighborhood. We loved it here and now we’re back.” Iannone provided corporate housing while they waited to close on their home.

Duncan also praises two of the Realtors on Stephanie’s team, Mindy and Kim. And the highest accolades go to Stephanie. “Stephanie makes you feel you are her priority, though she has tons of clients. She doesn’t really care what your price point is; she wants to be sure you find the right house for you.

“And she’s a straight shooter. She’ll tell you if a house isn’t the right fit for you – for instance, if you have kids, as we do – and she’ll see things you might not notice. I think she’s amazing. She’s one of the best negotiators – very nice and fair, and strong. She fights for you.

“I’ve been the seller and buyer with her. She really represents you. She’s a very caring, genuine person, and wickedly bright. 

Housing Helpers award winning Colorado real estate agents provide home purchase, home sales, investment property, and relocation services to buyers, sellers and real estate investors throughout Colorado.  

By Judy Finman, At Home, Daily Camera  

About Housing Helpers

 

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