Boulder Living

Featured Property Listing

2009-09-14T16:22:00.017-06:00

1872 Clark Dr.
Erie, CO 80516

MLS # 607076

Locale: Erie

County: Boulder

Subdivision: Canyon Creek Flg 2 Correction

Total SqFt All Lvls: 3259

Basement SqFt: 1165

Total Finished SqFt: 2094

# Garage Spaces: 2

Garage square feet: 520

YearBuilt: 1998

Bedrooms: 3
Baths: 3

This amazing large two story contemporary home will knock your socks off! Large separate dining room. Large study. Large fenced in back yard. Over sized two car garage. Master suite with 5 piece master bath! New carpet! New Laminate Floors! Fresh Paint! Extremely open, light and bright! Faces private space and park. Shows beautifully with staged furniture!

SUMMARY OF THE ECONOMIC STABILIZATION ACT

2008-10-08T09:39:00.001-06:00

A SUMMARY OF THE ECONOMIC STABILIZATION ACT

On October 1, the Senate passed the Emergency Economic Stabilization Act (EESA) on a bipartisan vote of 74 – 25. NAR supported both the Senate package and the one the House defeated September 29.

This summary uses some general subject headings to illustrate the many pro-taxpayer and pro-borrower provisions in the bill, as well as to showcase the provisions that encourage banks to work more closely with borrowers in foreclosures and short sales.

Help Homeowners and Borrowers: The Senate legislation responded to the criticisms that lenders have been slow and/or unwilling to work with homeowners and borrowers. It encouraged negotiation in short sales and consumer efforts to refinance or reconfigure existing mortgages:

· When the Treasury (or other federal agency that holds mortgages) acquires troubled existing mortgages from financial institutions, agencies are required to work with lenders and mortgage servicers to find ways to avoid foreclosures.
· All federal agencies are required to work with servicers to facilitate loan modifications that will consider the net present value of the mortgage.
· Similar refinancing and foreclosure prevention requirements apply to mortgages involving owners of multi-family properties and owners of commercial properties. Policy goal is to assure that tenants don’t lose their residence or their place of business when an owner has problems with the mortgage.
· Changes to existing mortgages can include (but are not limited to) revisions in principal, interest rate and period for repayment.

Tax Relief: The Senate added an extensive package of extensions of expired and expiring provisions that had passed previously on a vote of 93 – 2. Extended provisions include the 15-year life on leasehold improvements, brownfields clean-up deductions, deductions for mortgage insurance premiums and relief from the Alternative Minimum Tax.

Get Money into the Financial System Quickly: The credit markets are nearly frozen. Lenders can’t lend because they are receiving no payments on existing loans. The legislation allowed the government to buy troubled loans and mortgage securities. The funds that the institutions received when the government purchased the existing portfolios were to be available to issue new mortgages with more carefully specified and monitored lending standards. Provisions include:

· Create a Troubled Asset Relief Program (TARP) to purchase and guarantee the troubled assets from the financial institutions that hold mortgages and/or mortgage-backed securities.
· A new Office of Financial Stability within the Treasury to operate TARP, with input from the Federal Reserve, Federal Deposit Insurance Corp (FDIC – the agency that works with failed and failing financial institutions to insure and protect consumers), the Comptroller of the Currency (bank regulator), Office of Thrift Supervision (regulator of former savings and loan companies) and the Secretary of Housing and Urban Development.
· Don’t give out all the money at one time. First release of funds to purchase troubled assets will be $250 Billion. Second release of up to $100 Billion must be authorized by the President. Final $350 Billion can be issued only on Congressional approval. Congress given 15 days to act.

Follow, Protect and Watch Over the Money: Congress will keep a tight rein on TARP. Congress will have the assistance of numerous agencies charged with specific tasks and reporting responsibilities:

· TARP Oversight Board at Treasury -- monthly activity reports to Congress.
· Secretary of Treasury -- detailed reports to Congress for each $50 Billion in transactions.
· Government Accountability Office (Congress’s auditor) -- financial reports about TARP activities every 60 days.
· Judicial Review -- Federal courts may issue injunctions when there is a finding that the Secretary of the Treasury has acted in a manner that is arbitrary, capricious or outside the law.
· Create a new Inspector General (IG) for TARP. An IG might be viewed as the “cop on duty” who has authority to investigate TARP’s activities. IG will make quarterly reports to Congress.
· Appoint a Congressional Oversight Panel – receive and process all these reports to keep Congress apprised of the state of financial markets, activities of the regulatory system and the use of TARP’s asset acquisition and disposition authority.
· Federal Reserve -- provide reports to Congress on utilization of the lending authority created earlier this year. That authority was intended to assist ailing financial institutions.

Put Brakes on the Bad Guys: Congress wanted to curtail “bad acts” of executives who gambled and lost.

· Assure that skilled asset managers who buy and sell TARP assets have no conflicts of interest with prior employers or firms.
· No golden parachute or severance payments to executives of companies that sell assets to TARP. An executive who receives a parachute payment will be required to pay a 20% excise tax on it.
· No tax deductions allowed for any executive’s compensation of more than $500,000.
· All financial regulatory agencies are required to cooperate with the FBI in its investigations of fraud, misrepresentation or malfeasance in the selling or advertising of financial products.

Give the Taxpayers a Stake in the Profits: Historically, when the government has intervened to shore up a company’s or government’s financial dealings (such as the loan guarantees made to Chrysler and the aid given to New York City during a fiscal crisis), the long-term effect has been that the government has made money back on the deal. The legislation provided an “upside” benefit for taxpayers:

· Any profits generated when the government subsequently sells TARP assets would be used to pay down the national debt.
· The government will receive warrants in the companies that participate in TARP. The warrants are similar to stock, but do not grant any voting authority to the government. If the participating company pays dividends at some future time, the warrants would allow the government to receive the dividend. Similarly, if the government sells its stake in the company, the warrants would entitle the government to any appreciation.

Safeguard Savings: Increase the amount of federal insurance on bank accounts from $100,000 to $250,000. This will be particularly helpful to smaller and local banks and small businesses.

Recoup What’s Still Owed: If, after five years from the date of enactment (the date the President signs a bill), the program has lost money, the sitting President will be required to present a plan to Congress for ways to recover the funds from the financial institutions that benefited from the TARP relief.

Fannie and Freddie's Dual Obligations

2008-10-07T14:36:00.000-06:00

For years our nation has tried to encourage home ownership. The tax benefits are wonderful plus this encourages people to have pride of ownership and take care of their neighborhoods and properties. I have been in this business long enough to remember when getting people into Community Home Buying programs was a good thing. We all wanted the teachers, fireman and gardners to have a place that they could call home. And before affordable housing programs became the rage (which is almost completely subsidized) the Community Home and mandated FNMA and FDMC buying programs that allowed people in homes with zero down and shaky incomes were strongly encouraged by Congress and Clinton. I tried to find a non-partisan take on this issue. This article is from June 2003Fannie and Freddie Mac Meeting Dual Obligations

Troubled Asset Relief Program Was A Necessary Evil

2008-10-07T14:22:00.005-06:00

We now own a property that went into foreclosure only because the owner lost his job and couldn't find a comparable job for two years. How many of us can withstand 2 years of no income? The housing bust is the symptom of a recession economy that was left unchecked. Instead if saying hey...we are in a recession so let's stabilize it...barely anything was done to correct the trend. So here we are. And Congress is frozen and afraid to do anything. I can almost understand when you have hundreds of economists saying something like http://prospect.org/csnc/blogs/beat_the_press. But let's not do "anything" and let's just sit on the sidelines while this train wrecks into a deep depression is in my opinion not an option. We haven't been a completely free market, capitalistic economy after the depression and banks were required to keep reserves, the FDIC , labor unions and anti-trust, anti monopoly laws, etc, etc were formed. Let's not pretend to be a free market now. Let's see if the ecomonists and Congress can come up with a plan that will work and do something because mainstreet... everyone is going to be effected by this credit crunch! Troubled Asset Relief Program (TARP)

Emergency Economic Stabilization Act Slow To Ease Homeowners

2008-10-07T13:31:00.002-06:00

Emergency Economic Stabilization Act will be slow to ease the difficulty that
homeowners feel today. Many homeowners only have days not months before their
homes go into foreclosure. What definitely needs to reviewed are the bankruptcy laws and
regulation on Wall Streets hidden economic sink hole Swaps and Derivatives.

A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT

2008-09-30T14:17:00.001-06:00

What's At Stake?
Reprint for National Association of Realtors Action Center

Pass the Emergency Economic Stimulus Act

A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT WHAT’S AT STAKE FOR REALTORS

The House has defeated the Emergency Economic Stabilization Act (EESA) on a vote of 205 – 228. NAR supported the package. Media reports about it did not present the case for the many ways it would have supported the real estate industry.
The summary below presents all the bill’s provisions, condensed into some general subject headings. Many of these provisions are likely to survive in whatever legislation comes next.
Help Homeowners and Borrowers: The legislation responded to the criticisms that lenders have been slow and/or unwilling to work with homeowners and borrowers. It encouraged negotiation in short sales and consumer efforts to refinance or reconfigure existing mortgages:
When the Treasury (or other federal agency that holds mortgages) acquires troubled existing mortgages from financial institutions, agencies are required to work with lenders and mortgage servicers to find ways to avoid foreclosures.
All federal agencies are required to work with servicers to facilitate loan modifications that will consider the net present value of the mortgage.
Similar refinancing and foreclosure prevention requirements apply to mortgages involving owners of multi-family properties. Policy goal is to assure that tenants don’t lose their residence when an owner has problems with the mortgage.
Changes to existing mortgages can include (but are not limited to) revisions in principal, interest rate and period for repayment.
Get Money into the Financial System Quickly: The credit markets are nearly frozen. Lenders can’t lend because they are receiving no payments on existing loans. The legislation allowed the government to buy troubled loans and mortgage securities. The funds that the institutions received when the government purchased the existing portfolios were to be available to issue new mortgages with more carefully specified and monitored lending standards. Provisions include:
Create a Troubled Asset Relief Program (TARP) to purchase and guarantee the troubled assets from the financial institutions that hold mortgages and/or mortgage-backed securities.
A new Office of Financial Stability within the Treasury to operate TARP, with input from the Federal Reserve, Federal Deposit Insurance Corp (FDIC – the agency that works with failed and failing financial institutions to insure and protect consumers), the Comptroller of the Currency (bank regulator), Office of Thrift Supervision (regulator of former savings and loan companies) and the Secretary of Housing and Urban Development.
Timing for TARP purchases designed to assure that all the authorized $700 Billion is not released at one time.
First release of funds to purchase troubled assets will be $250 Billion. Second release of up to $100 Billion must be authorized by the President. Final $350 Billion can be issued only on Congressional approval. Congress given 15 days to act.
Follow, Protect and Watch Over the Money: Congress will keep a tight rein on TARP. Congress will have the assistance of numerous agencies charged with specific tasks and reporting responsibilities.
TARP Oversight Board at Treasury -- monthly activity reports to Congress.
Secretary of Treasury -- detailed reports to Congress for each $50 Billion in transactions as the transactions are completed.
Government Accountability Office (Congress’s auditor) -- financial reports about TARP activities every 60 days.
Judicial Review -- Federal courts may issue injunctions when there is a finding that the Secretary of the Treasury has acted in a manner that is arbitrary, capricious or outside the law.Create a new Inspector General (IG) for TARP. An IG might be viewed as the “cop on duty” who has authority to investigate TARP’s activities. IG will make quarterly reports to Congress.
Appoint a Congressional Oversight Panel – receive and process all these reports to keep Congress apprised of the state of financial markets, activities of the regulatory system and the use of TARP’s asset acquisition and disposition authority.
Federal Reserve -- provide reports to Congress on utilization of the lending authority created earlier this year. That authority was intended to assist ailing financial institutions.
Put Brakes on the Bad Guys: Congress wanted to curtail perceived “bad acts” of executives who made big bets and lost.
Assure that skilled asset managers who buy and sell TARP assets have no conflicts of interest with prior employers or firms.
No golden parachute or severance payments to executives of companies that sell assets to TARP. If a company that sells assets to TARP does make any post-employment payments (other than retirement compensation), the executive (not the company) must pay a 20% excise tax.
If a company sells assets to TARP, then no tax deductions for salary or other compensation will be allowed if a worker’s compensation package is more than $500,000.
All financial regulatory agencies are required to cooperate with the FBI in its investigations of fraud, misrepresentation or malfeasance in the selling or advertising of financial products.
Give the Taxpayers a Stake in the Profits: Historically, when the government has intervened to shore up a company’s or government’s financial dealings (such as the loan guarantees made to Chrysler and the aid given to New York City during a fiscal crisis), the long-term effect has been that the government has made money back on the deal. The legislation provided an “upside” benefit for taxpayers:
Any profits generated when the government subsequently sells TARP assets would be used to pay down the national debt.
The government will receive warrants in the companies that participate in TARP. The warrants are similar to stock, but do not grant any voting authority to the government. If the participating company pays dividends at some future time, the warrants would allow the government to receive the dividend. Similarly, if the government sells its stake in the company, the warrants would entitle the government to any appreciation.
Recoup What’s Still Owed: If, after five years from the date of enactment (the date the President signs a bill), the program has lost money, the sitting President will be required to present a plan to Congress for ways to recover the funds from the financial institutions that benefited from the TARP relief.

$700B Bailout Could Be Less When Assets Sold

2008-09-29T12:06:00.001-06:00

The 700 Billion Dollar Bail Out
By Scott Martin
Premier Mortgage Group an Affiliated Company of Cherry Creek

As you have probably heard, the U.S. Treasury Department is working on a plan to allow the federal government to buy troubled assets (primarily bad mortgages) from private companies.
Although we don’t yet know all the details of the Treasury Department’s bailout plan, we do know that SOMETHING is being done, and that has brought some calm to the financial markets.

The mortgage backed securities markets have been in a vicious circle of “de-leveraging.” In other words, If a market participate wants to de-leverage their assets, they will begin to sell Mortgage Backed Securities (MBS – or Mortgage Bonds). If too many market players sell at the same time, it will drive down the price. This can sometimes create a panic with other MBS sellers. The more sellers that try to sell drives the price even lower. And the lower the price of the mortgage bond, the HIGHER the interest rate – which translates DIRECTLY to a higher rate for new mortgages.
The Treasury’s plan will break that circle and allow normalcy to return to the mortgage markets. That mean better and more stable interest rates, and more available liquidity. In fact, we’re already seeing a more stable and calm Wall Street.
The Cost;
The final cost can’t be determined for years. But first it’s important to note that the Feds may not spend all $700 billion. Some economist estimate that there may not be that much to be bought.
Some banks won’t want to sell, believing they can do better themselves. Some of the bad debt has already been written off.
ALSO, for every bad mortgage Uncle Sam buts, there is a house that comes with it. Sooner or later the they will SELL that house and recoup some of their costs.

Scott MartinPremier Mortgage Groupan Affiliated Company of Cherry Creek MortgageMortgage Broker License # MB 100019187direct line (303) 302-3901fax (303) 449-4455cell (303) 941-7287

Is this the end?

2008-09-24T16:48:00.000-06:00

Reprint:

Commentary: Bailouts will lead to rough economic ride
By Ron PaulSpecial to CNN

Editor's note: Ron Paul is a Republican congressman from Texas who ran for his party's nomination for president this year. He is a doctor who specializes in obstetrics/gynecology and says he has delivered more than 4,000 babies. He served in Congress in the late 1970s and early 1980s and was elected again to Congress in 1996. Rep. Paul serves on the House Financial Services Committee.
(CNN) -- Many Americans today are asking themselves how the economy got to be in such a bad spot.
For years they thought the economy was booming, growth was up, job numbers and productivity were increasing. Yet now we find ourselves in what is shaping up to be one of the most severe economic downturns since the Great Depression.
Unfortunately, the government's preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention.
Ever since the 1930s, the federal government has involved itself deeply in housing policy and developed numerous programs to encourage homebuilding and homeownership.
Government-sponsored enterprises Fannie Mae and Freddie Mac were able to obtain a monopoly position in the mortgage market, especially the mortgage-backed securities market, because of the advantages bestowed upon them by the federal government.Laws passed by Congress such as the Community Reinvestment Act required banks to make loans to previously underserved segments of their communities, thus forcing banks to lend to people who normally would be rejected as bad credit risks.
These governmental measures, combined with the Federal Reserve's loose monetary policy, led to an unsustainable housing boom. The key measure by which the Fed caused this boom was through the manipulation of interest rates, and the open market operations that accompany this lowering.
When interest rates are lowered to below what the market rate would normally be, as the Federal Reserve has done numerous times throughout this decade, it becomes much cheaper to borrow money. Longer-term and more capital-intensive projects, projects that would be unprofitable at a high interest rate, suddenly become profitable.
Because the boom comes about from an increase in the supply of money and not from demand from consumers, the result is malinvestment, a misallocation of resources into sectors in which there is insufficient demand.
In this case, this manifested itself in overbuilding in real estate. When builders realize they have overbuilt and have too many houses to sell, too many apartments to rent, or too much commercial real estate to lease, they seek to recoup as much of their money as possible, even if it means lowering prices drastically.
This lowering of prices brings the economy back into balance, equalizing supply and demand. This economic adjustment means, however that there are some winners -- in this case, those who can again find affordable housing without the need for creative mortgage products, and some losers -- builders and other sectors connected to real estate that suffer setbacks.
The government doesn't like this, however, and undertakes measures to keep prices artificially inflated. This was why the Great Depression was as long and drawn out in this country as it was.
I am afraid that policymakers today have not learned the lesson that prices must adjust to economic reality. The bailout of Fannie and Freddie, the purchase of AIG, and the latest multi-hundred billion dollar Treasury scheme all have one thing in common: They seek to prevent the liquidation of bad debt and worthless assets at market prices, and instead try to prop up those markets and keep those assets trading at prices far in excess of what any buyer would be willing to pay.
Additionally, the government's actions encourage moral hazard of the worst sort. Now that the precedent has been set, the likelihood of financial institutions to engage in riskier investment schemes is increased, because they now know that an investment position so overextended as to threaten the stability of the financial system will result in a government bailout and purchase of worthless, illiquid assets.
Using trillions of dollars of taxpayer money to purchase illusory short-term security, the government is actually ensuring even greater instability in the financial system in the long term.
The solution to the problem is to end government meddling in the market. Government intervention leads to distortions in the market, and government reacts to each distortion by enacting new laws and regulations, which create their own distortions, and so on ad infinitum.
It is time this process is put to an end. But the government cannot just sit back idly and let the bust occur. It must actively roll back stifling laws and regulations that allowed the boom to form in the first place.
The government must divorce itself of the albatross of Fannie and Freddie, balance and drastically decrease the size of the federal budget, and reduce onerous regulations on banks and credit unions that lead to structural rigidity in the financial sector.
Until the big-government apologists realize the error of their ways, and until vocal free-market advocates act in a manner which buttresses their rhetoric, I am afraid we are headed for a rough ride.
The opinions expressed in this commentary are solely those of the writer.

Economist's Commentary: September 22, 2008

2008-09-24T13:23:00.000-06:00

$700 Billion for What?
By Lawrence Yun, Chief Economist
A massive $700 billion bill will be fast-tracked through Congress this week to give the U.S. government the authority to buy bad mortgages off the books of Wall Street firms. People are calling it the 'mother of all bailouts' and the 'biggest bailout in the history of mankind.' I am inclined to view it as the biggest sovereign wealth fund investment to date.
Several sovereign wealth funds - essentially a mutual fund run by a government for the government (or its taxpaying citizens) - have been investing in Wall Street firms and mortgage-related debts since late last year. Singapore, South Korea, United Arab Emirates, Saudi Arabia, and China were among the countries putting up a few billion dollars in the hopes of turning a big profit once the housing market recovers. Treasury Hank Paulson, a former CEO of the top U.S. investment bank Goldman Sachs and perhaps missing his old job, has now created a U.S. sovereign wealth fund that outstrips in size all other sovereign funds put together. Some may even view it simplistically as the Treasury Department going "all-in" in this $700 billion Texas Hold 'Em poker bet.
The principal goal of this new Treasury authorization is not to make money but to unclog the financial pipelines. Worries about capital inadequacy, further mortgage debt write-downs, and margin calls have hemorrhaged the movement of capital. The overnight borrowing rate has been skyrocketing, as any firm with excess cash was unwilling to lend that precious dough should it face the fate of Lehman Brothers. The very essence of capitalism - of allocating capital to its most productive use - was collapsing before our very eyes last week. The whole economy and Main Street civilians would have eventually suffered greatly from the mistakes of Wall Street.
The way to unclog the system is to buy certain mortgage backed securities off the books of financial firms. Because of illiquidity many mortgage securities, even those performing reasonably well, are being valued at pennies on the dollar if forced to sell. Let's say, for example, that you as a bank hold 100 mortgages and half of your clients are paying mortgages on time. At worst, these 100 mortgages would get at least 50 cents on the dollar. However, if you need to raise capital because of margin calls in the current panic, you would not get 50 cents but only few pennies on the dollar. These unrealistically low valuations are paralyzing the balance sheets of financial institutions and hindering the liquidity flow.
Treasury intervention will help restore the proper valuation of these illiquid assets. However, Treasury should not reward the mistakes of Wall Street by bailing out at an unreasonably high price and handing out "free money." Buying at a deeply discounted price could potentially lead to huge revenue benefits for Treasury on the behalf of taxpayers once the housing market and mortgage debt valuation recovers, but the financial firms may be unwilling to sell at unreasonably low prices. If this happens, we are back to square one. Subsequently, a delicate balance must be pursued with the goal of helping unclog the financial pipeline, but also protecting taxpayers' money.
Understandably, there will be anger and outcries from the Main Street public of this massive Wall Street 'bailout.' Politicians will feel the heat in this election year. But those same politicians have no choice: if the bill does not pass, the acute financial pain will quickly trickle down to Main Street.
The Main Street disgust of executive pay is also understandable. I will defend the '$700 billion bailout' to help stabilize the housing market and economy, but not the golden parachutes of fallen Wall Street executives. How is it that failed managers are able to get away with a fistful of dollars? The same can be said of Fannie Mae (FNMA) and Freddie Mac (FHLMC) executives. Many past managers of these government sponsored enterprises were paid a gigantic sum for running the very simple business of borrowing cheap and lending high. It was possible for Fannie and Freddie to borrow cheap on the backs of government (i.e. U.S. taxpayer) guarantees. Most of this borrowing cost advantage should have been passed onto consumers and not kept by Fannie/Freddie managers.
Hank Paulson has a tough task. He must permit capital to move around. That is the essence of capitalism. He must at the same time also protect taxpayer money. The return on the taxpayer gamble depends on two things: at what price the Treasury will buy bad mortgage debts off Wall Street books, and the future mortgage default rate. The default rate, in turn, will depend on the housing market recovery. Knowingly or not, the 75 million homeowners and 100 million taxpayers have now become the key stakeholders on the side of housing market recovery. In the end, if all goes better than anticipated, Mr. Paulson may perhaps get his own super hero figure made for returning a healthy rate of investment to taxpayers on this $700 billion gambit.

COMPATABLE DEVELOPMENT IN SINGLE-FAMILY NEIGHBORHOODS WORKSHOP

2008-09-24T12:23:00.002-06:00

(Formerly Known as Pops & Scrapes or FAR Issue)
Neighborhood Workshops6:30 - 8:00 p.m.Sept. 15, 17, 22, and 23See Neighborhood Workshop page for more

"Public Affairs Dispatch" Boulder Association of Realtors

The city of Boulder invites you to participate in the community kick-off event for the Compatible Development in Single-Family Neighborhoods project. The intent of this workshop is to provide participants with a project overview, interact with the project team, and participate in small break-out group activities. Discussions will center on the defining characteristics of existing neighborhoods, current regulations that relate to single-family development, and redevelopment trends.
The city of Boulder is launching this effort to examine the impacts that surround what is often referred to as "pops and scrapes" redevelopment. This project may result in a variety of outcomes related to the regulation of single-family development and redevelopment. The city is interested in hearing all perspectives on this topic.
This community workshop will be followed by a series of smaller neighborhood workshops in mid-September. Community feedback will be used in identifying potential strategies.

Rentals/Renters

2008-09-22T13:10:00.009-06:00

Let us know if you or a friend would like to rent one of these properties or others or rent one of there own.

Louisville Homes for rent!

262 Buchanan $1,450.00/ month. A four bedroom home on a quite circle close to Heritage Park and Fireside Elementary school! Very cute! extremely well kept, nice fenced yard, deck. Also has a living room, family room and unfinished basement area!

303-588-8999

954 Willow $ 1600.00

This cute little 3 bedroom/ two car garage home in Louisville is at the top of the Mesa surrounded by very expensive homes. It has a huge back yard and a hot tub. Very close to Mesa Elementary School, Harper Lake and Cute playgrounds. Call us for a showing!

303-588-8999

Buyer Needs/ Active listings

2008-09-22T12:30:00.011-06:00

Buyer Needs:

Buyer 1: We need a 2-3 condo loft within walking distance to Pearl Street Mall. Up to
1Million.

Buyer 2: A live/work condo home ready to move into for an artist.

Listings:

647 Princeton Place: $395K INDIAN PEAKS GOLF COURSE HOME ON A CUL DE SAC AND BACKING UP TO GREENBELT*** UPDATES GALORE ON THIS BEAUTIFUL AND WELL DESIGNED OPEN FLOOR PLAN INCLUDING NEW GRANITE COUNTERS, DOUBLE SIDED FIREPLACE, REFINISHED WOOD FLOORS ON THE MAIN LEVELS, LARGE GREAT ROOM, GAS STOVE, OVERSIZED TWO CAR GARAGE, NEW SOD IN THE LARGE YARDS, NEW PAINT AND TILE THROUGHOUT!***
IRES MLS#: 580590

325 Kohl. 219K WELL-ESTABLISHED COMMUNITY; OPEN FLOORPLAN; 4 BDRMS W/ 3 BATHS; ONE OF LARGEST MODELS IN NEIGHBORHOOD; SHORT DISTANCE TO EMERALD ELEMENTARY; LARGE, PRIVATE BACK YARD; ONE OF FEW WITH 2-CAR GARAGES IN NEIGHBORHOOD--- QUITE A GEM!
Public Comments: WELL-ESTABLISHED COMMUNITY; OPEN FLOORPLAN; 4 BDRMS W/ 3 BATHS; ONE OF LARGEST MODELS IN NEIGHBORHOOD; SHORT DISTANCE TO EMERALD ELEMENTARY; LARGE, PRIVATE BACK YARD; MINI- MAL FIX-UP; ONE OF FEW WITH 2-CAR GARAGES IN NEIGHBORHOOD--- QUITE A GEM! Ires MLS#580071

1360 Walnut $1,050,000 ***Twenty-Four by Twenty-Eight square feet is the size of this great room! Landmark Development with views of the Foothills and Downtown Boulder****Panoramic ceiling to floor store front windows, exposed brick, bamboo floors, stainless appl, balcony***Elegant Finish work in Industrial style loft***12.5 ft ceilings & exposed ducts***Zodiac Counters, Stainless Sinks & Seamless Entry Shower*** Elevator*** Go to work,

workout, go home, enjoy dinner and Live bands W/O a car!!! It is a lifestyle!!!
Public Comments: ***Twenty-Four by Twenty-Eight square feet is the size of this great room! Landmark Development with views of the Foothills and Downtown Boulder****Panoramic ceiling to floor store front windows, exposed brick, bamboo floors, stainless appl, balcony***

Elegant Finish work in Industrial style loft***12.5 ft ceilings & exposed ducts***Zodiac Counters, Stainless Sinks & Seamless Entry Shower*** Elevator*** Go to work, workout, go home, enjoy dinner and Live bands W/O a car!!! It is a lifestyle!!!
IRES MLS#: 561901

8900 Sugar Loaf Rd VERY VERY PRIVATE PRISTINE MOUNTAIN PROPERTY!!! BUILD YOUR DREAM HOME ON 9+ ACRES OF PRIVACY!!! COMPLETELY SURROUNDED BY FOREST SERVICE LAND SO THAT YOU FEEL LIKE YOU OWN 9000 ACRES!!! ONLY 30 MINUTES TO BOULDER.***ROCK OUTCROPPINGS, PONDEROSA PINES, DOUGLAS FIR & NATIVE GRASS MEADOWS ON A SLOPPING TERRAIN!!! UNRECORDED PHYSICAL ACCESS VIA OPEN FOREST SERVICE ROAD.
Public Comments: VERY VERY PRIVATE PRISTINE MOUNTAIN PROPERTY!!! BUILD YOUR DREAM HOME ON 9+ ACRES OF PRIVACY!!! COMPLETELY SURROUNDED BY FOREST SERVICE LAND SO THAT YOU FEEL LIKE YOU OWN 9000 ACRES!!! ONLY 30 MINUTES TO BOULDER.***ROCK OUTCROPPINGS, PONDEROSA PINES, DOUGLAS FIR & NATIVE GRASS MEADOWS ON A SLOPPING TERRAIN!!! UNRECORDED PHYSICAL ACCESS VIA OPEN FOREST SERVICE ROAD. IRES MLS#: 579160

Signs of A Stabilizing Market

2008-09-18T15:06:00.050-06:00

(From an Article By John W. Schoen, Senior producer of MSNBC; Aug. 26, 2008)

Though home prices continued to fall in July, there are growing signs that the market may be stabilizing as lower prices lure some buyers off the sidelines. But a broad housing recovery faces stiff headwinds in the form of rising unemployment, tighter credit for borrowers and a huge inventory of unsold homes. The widely watched Standard & Poor's/Case-Shiller national home price index fell by a record 15.4 percent during the second quarter compared to the same period a year ago. Still, the report offered a glimmer of hope that the slide in home prices may be easing: The rate of price drops slowed from May to June, and regional price data showed that nine of the 20 cities tracked by the index posted slight month-to-month gains.

The New 2008 Home Owner Laws & What They Mean For You

2008-09-18T15:06:00.046-06:00

(From an Article Written by Jay Taylor about The Housing Rescue Bill, signed into law July 30, 2008)

Some highlights:

The law will extend a tax credit of up to $7,500 to first-time homebuyers. A first-time homebuyer is defined as someone who hasn't owned a home in three years. The tax credit is for 10 percent of the purchase price, up to $7,500, but phases out for higher-income homeowners. Homeowners are eligible for the tax credit if they bought after April 8 of this year and before July 1, 2009.

This is a tax credit, not a deduction. It reduces the homeowners' tax bill by up to $7,500 for the tax year in which the purchase was made. If you buy a house this year, you get the tax credit for the 2008 tax year -- the one with a filing deadline of April 15, 2009. If you buy a house next year by the end of June, you get the tax credit for the 2009 tax year. It's a one-time credit; you don't get to keep taking it year after year.

But the money has to be repaid over 15 years, starting two years after you buy the house. That makes the tax credit an interest-free loan. If you take the full $7,500 tax credit, your income tax bill will increase by $500 a year for 15 years. If you sell the house before then, you'll have to pay the remaining balance.

Under current law, you can deduct your property taxes from federal income tax -- but only if you itemize deductions on Schedule A. That leaves out people who don't have enough deductions to warrant filling out Schedule A. They have to take the standard deduction -- they can't deduct property taxes. For homeowners who pay property taxes, it increases the standard deduction by $500 for single filers and $1,000 for couples filing jointly.

There are maximum amounts for loans that the FHA will insure, and that Fannie Mae and Freddie Mac will guarantee. Those limits were raised temporarily this year. The new law raises limits permanently. For FHA-insured mortgages, the new limit will be 115 percent of the median home price in that area, up to $625,500. That provision will affect loan limits in higher-cost areas. In lower-cost areas, the current FHA limits won't decrease. For conforming mortgages -- those eligible to be bought by Fannie Mae and Freddie Mac -- the conforming limit will remain at least $417,000 for a single-family home. It can be higher than that. Starting next year, the new limit is either $417,000 or 115 percent of the area's median home price, whichever is higher -- up to $625,500. After that, the limits go up or down according to a price index. More regulations on reverse mortgagesA reverse mortgage is an advance against home equity. It's for homeowners age 62 or older, and the reverse mortgage doesn't have to be repaid until the borrowers die or move out. Borrowers are required to get counseling first, to learn the pros and cons of reverse mortgages. The law will result in strengthened qualifications for counselors. The law bars insurance salesmen from originating reverse mortgages and prohibits originators from requiring homeowners to buy annuities or insurance products. (There's one big exception: The FHA insures reverse mortgages, and borrowers will buy that coverage.)

Finally, the law limits origination fees on reverse mortgages. They can't exceed 2 percent of a reverse mortgage of up to $200,000. For a reverse mortgage amount above that, the limit is $4,000, plus 1 percent of the loan amount above $200,000. Origination fees can't exceed $6,000 in any case. In future years, this upper limit is indexed to inflation. It will establish an Office of Housing Counseling, which coordinate all federal housing counseling functions, as well as produce booklets that will be given to people applying for mortgages.

Home Staging Tips

2008-09-18T15:06:00.042-06:00

(From an Article by Debra Gould, President of "Six Elements Inc.")

1. Consider the curb appeal.
Landscaping is nice, but not in everyone's budget. At minimum, lawns should be freshly mowed, leaves raked, or snow shoveled. Consider a hanging or potted plant for the entrance. Sweep the porch, deck and all walk ways and ensure garbage and recycling are tucked neatly away from the front of the house. Scrub your front door, porch, outside railings and steps. This is cheaper than repainting and makes a world of difference. Once the outside entrance is clean, decide if the paint really needs a touch up.

2. Get rid of clutter!
Pick one closet or area at a time so the task isn't as daunting. Look at every item with a very critical eye and ask yourself why you're keeping it. Remember that how you live in your home and how you sell your house are two entirely different things. You're going for a "show home" look! Forget about hanging onto items for a garage sale. Pick your favorite charity and donate it. You paid for these things long ago, why not just give them away to others who REALLY need them? You'll probably have to edit the same closets a number of times to really whittle them down to the "essentials". If rooms and closets still look cramped, rent a storage locker.

3. Turn excess inventory into cash.
If you have a collection of items for projects you never got around to, return them. This also applies to the two-year supply of light bulbs, canned goods or paper products sitting in your basement. Without a receipt you won't get cash, but you will have a store credit that you can use once you move. Less clutter and less stuff to pack, move and unpack again!

4. Watch where the eye goes.
There are speedy and low cost solutions to many of the little problems that together make a home seem shabbier than it needs to. Walk along each corridor and into every room and check where your eye is drawn (you can ask a real estate broker or family member). If the eye is drawn to the chipped white paint on the door frame, take some "white out" and fill it in. If it's those old nail holes in the wall, see if you can hang a picture to cover them. Glue any peeling wallpaper. If it's really horrible and you can't afford the time or money to fix it properly, hang pictures and strategically place baskets. You won't cover the problem entirely (which would be wrong anyway), but you will draw your audience's attention away from the problem and onto something more visually pleasing to focus on.

5. Find a fix-it person.
Ensure cupboards open and shut and that no taps are dripping. Look in all rooms for things you never got around to fixing and decide which ones might be distracting to potential buyers. No, it's not OK for door handles to fall off, even if you have learned to ignore it!

6. Clean, clean and clean again.
Most mortals can't live in a spotless environment all the time. This can be one of the more stressful aspects of having your home on the market— but it's worth the effort to sell your home for top dollar. You can hire a professional service to come in and deep clean everything; then take 20-30 minutes each day to maintain it. Don't neglect hallways. They lead potential buyers through your home and should be bright and clutter free. Remember you're trying to maximize the feeling of space in your home! Appliances should sparkle even if you're not including them with the house. After all, you might throw them in later as a negotiating tool. Counter tops, taps, sinks and bathtubs should be shiny and free of water spots.
If you have a pedestal sink, don't forget the dust that collects on top of the plumbing where it attaches to the wall. If the whole sink is spotless and the taps aren't dripping, it will look new!
Dust shelves and vacuum or "Swiffer" the floors. Naturally, all beds should be made. At a recent open house for a home listed over $500,000 (and over 60 days on the market), they hadn't even bothered with these two simple steps! It made you wonder what bigger things had been neglected.

If all this attention to detail seems over the top, remember that a very clean home leaves the impression that the house is well cared for. This helps put buyers at ease— especially a first time buyer who may be worried about the responsibilities of owning a house.

7. Let in some air.
Open some windows for at least 10 minutes. There is nothing worse than walking into a stuffy house or one that smells of smoke and pet odors.

8. Let in some light.
It might be mood lighting to you, but if you're trying to sell your home, keep it bright! Dimly lit rooms tend to look small and dingy— especially during the day.
If you have a particularly dark room, consider investing in a floor lamp that will bounce light off the ceiling. If your walls are so dark that they're sucking up all the light, consider repainting. You can even buy a small can of a lighter shade of your wall color, mix it with glaze and rub it onto the wall. It will reflect light and give the room a more open feeling. This approach saves much of the preparation and clean up involved in repainting.

9. Don't forget fresh flowers.
You don't need to spend a fortune to have fresh flowers throughout your home. Even a daisy in a bud vase brightens a bathroom counter. Ask your florist which blooms last a week. You can also use potted flowering plants that are in season for a low-cost solution. Don't use plastic or obviously fake flowers, especially in an expensive home!

10. Carefully consider music.
Soft background music can help create a soothing environment and camouflage neighbor and traffic noise. But make sure the volume is very low. Blaring TVs are definitely a no-no, but you'd be surprised how many people leave them on for showings!

Step back and look at your home with the eye of a highly critical buyer. Be honest with yourself! Most buyers can't look past unattractive or disorganized rooms or figure out how their furniture might look in an empty room. Home staging creates the "dream home" environment for buyers so they don't have to use their own imagination and can immediately fall in love and say "this is home!"

Mortgage Delinquencies Decline in Colorado

2008-09-18T15:06:00.037-06:00

(From an Article in the Denver Business Journal, Sept. 5, 2008)
Colorado ranked 41st in the nation in mortgage delinquencies in the second quarter, down from 39th in the first quarter, accord to data released Friday by the Mortgage Bankers Association.
Meanwhile, the percentage of Colorado loans on which foreclosure was started in the April-though-June quarter fell three basis points to 0.84 percent.

“The national foreclosure numbers continue to be driven by the hardest-hit states continuing to get much worse,” Jay Brinkmann, the MBA’s chief economist, said in a statement. “The increases in foreclosures in California and Florida overwhelmed improvements in states like Texas, Massachusetts and Maryland.” California and Florida accounted for 39 percent of all foreclosures started during the second quarter, and 73 percent of the increase in foreclosures between the first and second quarters. Only eight states had rates of foreclosure starts that were above the national average: Nevada, Florida, California, Arizona, Michigan, Rhode Island, Indiana and Ohio. The remaining 42 states plus the District of Columbia were below the national average.

“The other factor that continues to drive foreclosure rates is loan type,” Brinkmann said. “Subprime [adjustable-rate mortgage] loans accounted for 36 percent of all foreclosures started and prime ARMs, which include option ARMs, represented 23 percent.”
Colorado had 20 percent nonprime borrowers, compared with a national average of 19 percent.

Xcel Moving on SmartGridCity Project in Boulder

2008-09-18T15:06:00.031-06:00

(From an Article in the Denver Business Journal, Aug. 21, 2008)
Xcel Energy Inc. said Thursday it’s installed 82 miles of fiber-optic cables and the first of 13,000 new electricity meters in Boulder as part of its $100 million SmartGridCity pilot project in Boulder.

The equipment can respond to a power outage by automatically isolating the incident and rerouting power so fewer customers are left in the dark. The trailer also has a web portal that allows customers to pre-set their furnace, air conditioning and lights to save energy. “SmartGridCity is a prime example of how in Colorado we are using new technologies to build the New Energy Economy,” Gov. Ritter said in a statement. “This project is a great example of a public and private partnership between the state, the city of Boulder, Xcel Energy and its partners.” Xcel said the utility and its SmartGridCity technology partners are making significant progress in Boulder. The first so-called “smart” meters have been installed, and are working with two-way communication between the customer and Xcel through the fiber-optic cables.
By the end of 2008, Xcel expects to have more than 13,000 homes with smart meters. By next summer, another 10,000 meters will be available for installation at the customer’s request.
In addition, Xcel said two substations in Boulder have been upgraded with smart technology, which can automatically detect, isolate, and restore electricity load when an outage occurs. This information allows Xcel to cut the impact of outages by predicting them, and thus preventing outages, and technology to reduce their duration.

Denver Home Price Rise Tops 20-City List

2008-09-18T15:06:00.027-06:00

(From an Article in the Denver Business Journal, Aug. 26, 2008)
Denver home prices show the strongest rebound of the 20 markets studied, according to the S&P Case-Shiller Home Price Indices. The report said home prices rose in June from a month earlier in nine cities. Denver had the biggest gain, at 1.5 percent, followed by Boston at 1.2 percent.

A separate report, by the Office of Federal Housing Enterprise Oversight, showed more positive news for the Denver market. Home prices in the Denver-Aurora area are up 0.38 percent in the past year. The report relies on home sales and refinancing of mortgages for its data. Home prices in Boulder were up 2.47 percent in value from a year ago, and 0.25 percent higher in the second quarter. For Colorado as a whole, prices rose by 1.82 percent in the past year and by 0.32 percent in the second quarter.

Passco Buys Land in Louisville

2008-09-18T15:06:00.023-06:00

(From an Article in the Denver Business Journal, Sept. 3, 2008) A California company has purchased a 20-acre site within the Colorado Technology Center in Louisville for $3.8 million and plans to construct a series of office buildings there. The site includes two approved planned unit developments, or PUDs. Passco Companies Development LLC said it expects to break ground this fall on the first phase of development, an 84,000-square-foot building called One Technology Center. The company will have space available for lease from 20,000 to 84,000 square feet. Phase two will be Two Technology Center, a 104,000-square-foot building. The third phase will be two 40,000-square-foot multi-tenant office or flex properties.

Denver Water Considers Higher Rates

2008-09-18T15:06:00.020-06:00

(From an Article in the Denver Business Journal, Sept. 2, 2008) Water’s board will decide Sept. 24 whether to raise water bills by $19 to $33 a year for residential customers, depending on if they live in the city or the suburbs. The agency needs to raise an extra $18.5 million in 2009 to cover rising costs for maintaining and improving its water system.

Other projects in 2009 include the replacement and rehabilitation of aging infrastructure, Hayman Fire watershed recovery work, potential enlargement of Gross Reservoir and expanding conservation education, rebates and incentive programs, the utility said.
Increasing water rates will close that gap, the utility said, since it doesn’t receive any tax dollars.

Under the current proposal for 2009, reviewed by the Denver Water board, Denver residential customers would see their bills increase by about $19.14 a year, on average. Suburban residential customers served by Denver Water would see an increase of $33.12 per year, on average. The effects of the proposed changes on customer bills would vary depending upon the amount of water the customer uses and whether the customer lives in Denver or is served by a suburban distributor under contract with Denver Water.

The utility is also looking at ways to revise its rate structure for 2010 designed to encourage water conservation. Public comment on the 2009 water rate increase and the 2010 rate structure is being taken.

Forest City Breaks Ground on 184 acre Park

2008-09-18T15:06:00.017-06:00

(From an Article in the Denver Business Journal, Sept. 3, 2008)
Developer Forest City Science + Technology Group broke ground on the 184-acre Colorado Science and Technology Park in Aurora Wednesday. The new park will house an incubator for emerging businesses, a hotel and conference center and a 175,000-foot-foot office building for University Physicians Inc. The Fitzsimons Federal Credit Union also will break ground on the site. During the groundbreaking, Aurora Mayor Ed Tauer unveiled a study that showed that development in the former Fitzsimons Army Medical Center — which includes the Anschutz Medical Campus, The Children’s Hospital and Research Center and a planned veterans hospital — will generate up to $4.5 billion in “annual economic impact” by 2013. Forest City Science + Technology Group is a division of Forest City Enterprises Inc. (NYSE: FCEA, FCEB), a real estate development company based in Cleveland, Ohio.

Ascendant, Cobalt Plan Spec Building

2008-09-18T15:06:00.013-06:00

(From an Article in the Denver Business Journal, Sept. 4, 2008)
Ascendant Development and Cobalt Industrial REIT II will break ground this month on a 100,000-square-foot speculative light industrial building in the Denver Business Center. The building site is 6.10 acres. Privately held Ascendant Development is based in Denver. The company specializes in buying and developing business parks, plus build-to-suit and speculative office and industrial buildings in the Rocky Mountain Region.

Dallas-based Cobalt Capital Partners, a private equity firm that buys, manages and develops light industrial properties, manages Cobalt Industrial REIT II and its predecessor, Cobalt Industrial REIT I. Together, the REITs own more than 23 million square feet of space in 15 markets.

Metro State board backs energy-tax measure

2008-09-18T15:06:00.009-06:00

(From an Article in the Denver Business Journal, Sept. 4, 2008) Trustees of Metropolitan State College of Denver have endorsed a ballot measure to collect more severance taxes from energy companies to fund scholarships and are opposing an initiative that would curtail affirmative-action programs. The college’s board of trustees voted unanimously to support Amendment 58, which would end a tax credit enjoyed by gas and oil companies that drill in Colorado.

The measure would raise more than $300 million in severance-tax revenue, about two-thirds of which would go into a college-scholarship fund for qualifying Colorado students. Proponents say energy companies don’t need a tax credit, which they don’t get in other states, and that the money could help thousands of Colorado students attend college who might not otherwise be able to go. Opponents say it could cause gas and oil companies to flee the state and result in higher energy prices for consumers.

Trial Attorneys Use Guerilla Tactic on REALTORS

2008-05-05T10:03:00.001-06:00

Politics can get really ugly.

Trial Attorneys Use Guerilla Tactic on REALTORS®: Employing the “misery loves company strategy,” the Colorado Trial Lawyers Association filed a proposed ballot initiative to limit commissions on real estate sales. The trial lawyers did this because of a proposed ballot question which would limit their fees and used the tactic in an attempt to force REALTORS® to become their allies. The proposal would reduce commissions on the sale of homes valued above $500,000 to one percent, commissions on homes valued between $250,000 and $500,000 to three percent and leave commissions on homes valued under $250,000 at six percent. CAR immediately voiced strong opposition to the proposal and is negotiating with the trial lawyers to get the proposal withdrawn. The Colorado Trial Lawyers Association has filed nine different ballot measures, all designed to restrict professional fees or salaries of various groups. In a press release, the Executive Director said "For too long, corporate interests have been put ahead of consumer interests in this state."

Scary Ballot Initiative

2008-04-28T11:23:00.004-06:00

There are some Special Interest Groups that would like to see real estate take a plummet. They would like to see deflation as the order of the day and possibly undermine the health and wealth of our state. Or they have a poor basic understanding of what Realtors do on a daily basis. Realtors have individual businesses with individual expenses and overheard. Great Realtors absorb expenses for web sites, written advertising, staff, gas etc on the success of a sale in the future. A lot of risk is taken on our part. If an initiative like this gets any traction then sellers and buyers will need to be ready to get their check books out to pay hourly rates plus itemized expenses. It also seems crazy that someone with a higher priced home in this initiative will have to pay less than someone who owns a lower priced home. It leads me to believe that the people behind this measure own a home higher than $500,000.00 .

If the general trend is still to believe that Realtors get paid to much...then maybe those folks should get there license and start selling!

Ballot Initiative Update
There are now three active initiatives that have been filed which address real estate transfer taxes – all brought forward by the same groups. To address flaws existing in the current initiative, the proponents submitted the two additional proposals this week. CAR remains actively engaged in this process and will continue to intervene on behalf of REALTOR® interests.

In addition to the transfer tax proposals, initiative #109 was filed this week concerning the restriction of earned real estate broker fees. In a nutshell, a six percent cap would be placed on transactions up to $250,000; three percent for $250,000 – $500,000; and one percent for transactions above $500,000 (but no more than $500 per hour).

In reaction to initiative #109, CAR has released the following press statement:

First the Colorado Association of REALTORS® believes the ballot initiative process is an unproductive way to deal with consumer and business issues. Second we believe this proposed ballot initiative specifically is bad for consumers. It changes the relationship between the consumer and the real estate agent/REALTOR® by mandating a fixed price whereas, current commission rates are negotiable regardless of the selling price of a property.
The sliding scale is patently unfair, particularly to the majority of buyers who are purchasing homes on the lower dollar value of this scale. For example, using the proposed ballot initiative scale, a family purchasing a $200,000 home would be required to pay a $12,000 commission. A family purchasing a $500,000 home would only pay a $5,000 commission based on the 1 percent mandated rate.
Our current system encourages innovative business models that clearly benefit the consumer. As an association, our desire is to encourage and support our varied professionals in being creative for the consumer and providing diverse solutions to their real estate needs.

Ritter approves 'land grab' bill

2008-04-28T11:05:00.000-06:00

Ritter approves 'land grab' bill
Adverse possession law set to change
By Heath Urie (Contact)Saturday, April 26, 2008

Beginning July 1, people hoping to use "adverse possession" to take control of another person's land had better be prepared to pay for it, thanks to a bill signed into law Friday by Gov. Bill Ritter.
Ritter gave final approval to House Bill 1148, which modifies the longtime legal concept that allows trespassers to claim another's land after using it openly and continuously for at least 18 years.
The bill, which garnered wide bipartisan support among state lawmakers, requires that an adverse possessor believe in "good faith" that the land is actually his or her own. It also raises the burden of proof in an adverse-possession case and gives judges the power to make plaintiffs payfor any land they are awarded.
Rep. Rob Witwer, R-Evergreen, and Sen. Ron Tupa, D-Boulder, co-sponsored the bill, which was crafted in the wake of a controversial Boulder land dispute.
Richard McLean and Edith Stevens sued neighbors Don and Susie Kirlin in 2006 using adverse possession. In October, the former district court judge and attorney won their case -- and 34 percent of the Kirlins' vacant, next-door lot.
"I'm just so impressed and happy with the Colorado Legislature," Don Kirlin said. "The fact that they were able to change a law so that no one would have to endure what we went through ... is pretty monumental."
Witwer on Friday said the bill is a victory for property owners.
"This will make it harder to abuse adverse-possession law," he said. "Frankly, it should have been done decades ago. But it's better late than never."
Earlier this month, Ritter signed a bill sponsored by Rep. Claire Levy, D-Boulder, which -- beginning Aug. 6 -- will require Colorado district and county court judges to step down from cases involving other current or former judges within the same district when requested.
Levy said she sponsored her bill in reaction to the Kirlin case.

2008 Short Term Freddie Mac Rules

2008-04-18T10:20:00.001-06:00

Update on Purchases of Conforming Jumbo MortgagesUpdated April 17, 2008

On February 13, the President signed into law the Economic Stimulus Act of 2008 that includes a temporary increase in Freddie Mac's conforming loan limits in high cost areas, as defined by the U.S. Department of Housing and Urban Development (HUD).
Freddie Mac believes the temporary increase in conforming loan limits will allow us to provide much-needed liquidity and stability to the jumbo portion of the residential mortgage market, and is in the best interest of the economy and consumers.
We are using the descriptive term “conforming jumbo” mortgages to distinguish Freddie Mac-eligible jumbo mortgages from other jumbo mortgages that are ineligible for purchase by Freddie Mac and from eligible conventional, conforming mortgages.
New Loan Limits
The new loan limits are applicable to high cost areas only and are the higher of the 2008 conforming loan limit ($417,000) or 125% of the area median house price, not to exceed $729,750 for a 1-unit property. The law also allows the purchase of eligible loans originated with note dates between July 1, 2007 and December 31, 2008.
HUD has published the list of high cost Metropolitan Statistical Areas (MSAs) and applicable loan limits per number of units. This information is available on:
HUD's website. HUD offers a user-friendly, look-up tool that provides loan limits for all MSAs and counties.
OFHEO's website [PDF]. This list provides only the high cost counties and MSAs affected by the new loan limits.
New Originations of Conforming Jumbo Mortgages
For deliveries beginning June 1, we will offer Guarantor contracts for newly originated conforming jumbos for delivery through our selling system. We consider newly originated mortgages to be originations with note dates on or after March 1, 2008 up to and including December 31, 2008. Below are our requirements for originating conforming jumbo mortgages.
The ability to sell conforming jumbo mortgages to Freddie Mac is available on a limited, negotiated basis. We are offering the ability to sell these mortgages in a phased approach to eligible Guarantor customers. Freddie Mac Account Managers will contact eligible Guarantor customers to begin contracting discussions.
For all other customers, we recommend you contact a lender that you have a wholesale relationship with and who is offering conforming jumbo loans. If you don't currently have a relationship with a wholesaler, or if you are unsure if your wholesaler is currently selling conforming jumbo mortgages to us, please contact your Freddie Mac Account Manager or representative. We will assist you whenever possible to determine a wholesale relationship.
Requirements for New Originations
We've defined specific credit and pricing requirements for conforming jumbo mortgages that will be different from our current conforming mortgages requirements. At this time, our credit and underwriting requirements for originations with note dates on or after March 1, 2008 up to and including December 31, 2008, include the following:
General Eligibility
Please note, where the requirements below are silent, conforming jumbos mortgages must comply with all other requirements in the Single-Family Seller/Servicer Guide.
Eligible Products, Purpose and Occupancy Requirements
Products
15-, 20-, 30- and 40-year fixed-rate, fully amortizing mortgages (no balloons)
30-year fixed-rate mortgages with 10-year interest-only periods
Fully amortizing 5/1 adjustable-rate mortgages (ARMs)
5/1 ARMs with 10-year interest-only periods
Purpose
Purchase
No cash-out refinance
Cash-out refinances for primary residence only
Occupancy
1-unit primary residences, including condos and PUDs
1-unit second homes
1-unit investment properties
Maximum Loan-to-Value (LTV) and Total Loan-to-Value (TLTV) Ratios
The following chart outlines the maximum LTV and TLTV ratio requirements for conforming jumbo mortgages:
Loan Purpose
LTV/TLTV
Minimum Indicator Score
Primary Residence
Purchase
90%
LTV >75%: 700LTV <75%: 660
No cash-out refinance
90%
LTV >75%: 700LTV <75%: 660
Cash-out refinance
75%
720
Second Home and Investment Property
Purchase
60%
660
No cash-out refinance
60%
660
Cash-out refinance
N/A
N/A
Eligibility for New Originations
Loan Characteristic
Requirement
Reserves
Primary residence: 2 months verified
Second home and investment property: 6 months verified
Maximum Cash-Out Amount
Per Guide requirements, including mortgage proceeds to the borrower or any other payee may not exceed $100,000
Maximum Seller Contributions
Maximum of 3% is permitted for primary residence and second homes regardless of LTV
Maximum of 2% is permitted for investment properties
Required Documentation
All Loan Prospector® documentation classes apply, including Accept Plus
Full documentation requirements apply for all other mortgages
Housing Payment History
No 30-day late housing payments within the last 12 months
Nontraditional Credit
Not permitted
Debt-to-Income Ratio
45% maximum
Appraisals
Full URAR - interior and exterior inspection required
In addition, a field review (Form 1032) is required if the LTV/TLTV > 75% and the value is > $1,000,000
The person performing the appraisal must be qualified to perform appraisals without oversight or supervision by a "supervisory" or "review" appraiser
Freddie Mac's Declining Markets requirements apply. If the appraiser or Seller has determined that a property is located in a declining market, maximum financing must be reduced. Section 23.5 of the Guide provides that a lender must not offer financing to the maximum LTV/TLTV ratio in any instance in which property values are declining.
Age of Documents
120 days
Mortgage Insurance
Standard mortgage insurance (check with your MI provider to obtain its eligibility requirements)
Financed MI not permitted
Eligible Underwriting Path
For loan amounts less than $1 million
Loan Prospector Accept Plus and Accept
In addition to the Loan Prospector assessment, you will need to ensure that the loan meets our credit requirements for conforming jumbos
Manually underwritten mortgages
Settlement Cycle
5-day minimum settlement cycle
Ineligible Products and Features
Balloon Mortgages
FHA Mortgages
Financed MI
Streamlined refinances
Special purpose cash-out refinances
Second liens
Manufactured homes
Cooperative units
Temporary subsidy buydowns
Home Possible® Mortgages or other lender-branded affordable programs
2- to 4-unit properties
Servicing
There are no special servicing requirements related to the servicing of conforming jumbo mortgages. The minimum servicing spread will be 25 basis points.
Securitization
The Securities Industry and Financial Markets Association (SIFMA) indicated that conforming jumbos will be traded as non-TBA securities:
30-year fixed-rate mortgages will be pooled in a separate prefix and trade non-TBA.
ARMs will be pooled in specific conforming jumbo pools using existing non-TBA prefixes. Co-mingling will not be allowed.
Pricing
Our pricing for conforming jumbos will be as follows:
Your standard guarantee-fee
Plus, current Single-Family Seller/Servicer Guide Exhibit 19 delivery fees
Plus, unique conforming jumbo mortgage postsettlement delivery fees. To determine the delivery fee, take the standard delivery fee rate and apply all applicable delivery fee rate adjustors, as defined in the tables below.
Fixed Rate Mortgage Standard Delivery Fee Rate
Product Type
Delivery Fee
Fixed Rate
0.25%
Fixed Rate Mortgage Delivery Fee Rate Adjusters
Product Type
Purpose Type
LTV/TLTV
Delivery Fee
Fixed Rate
No Cash-Out Refinance
> 75%
0.50%
Cash-Out Refinances
All eligible LTV/TLTVs
1.00%
Fixed-Rate 10-year Initial Interest
All purpose types
All eligible LTV/TLTVs
0.25%
Adjustable Rate Mortgage Standard Delivery Fee Rate
Product Type
Delivery Fee
ARM < 80% LTV/TLTV
0.75%
ARM > 80% LTV/TLTV
1.50%
Adjustable Rate Mortgage Delivery Fee Rate Adjusters
Product Type
Purpose Type
LTV/TLTV
Delivery Fee
ARM
No Cash-Out Refinance
> 75%
0.50%
Cash-Out Refinances
All eligible LTV/TLTVs
1.00%
Please contact your Freddie Mac Account Manager or representative if you have any questions regarding our offering for new originations.
Existing Portfolios of Eligible Mortgages
In addition to purchasing new originations, we are purchasing existing lender-held portfolios of qualifying loans with note dates on or after July 1, 2007, and up to and including February 29, 2008, through our bulk transaction path. This is a negotiated offering available to lenders experienced in selling through our bulk process. A broader product set may be available for this option. If you are interested in selling a qualifying portfolio to Freddie Mac, please contact your Freddie Mac Account Manager or representative.
© 2008 Freddie Mac

FREDDIE MAC TO BUY CONFORMING JUMBO MORTGAGES IN HIGH COST MARKETS FROM WELLS FARGO, CHASE, CITIMORTGAGE, WAMU

2008-04-18T10:03:00.001-06:00

FREDDIE MAC TO BUY CONFORMING JUMBO MORTGAGES IN HIGH COST MARKETS FROM WELLS FARGO, CHASE, CITIMORTGAGE, WAMU

Temporary Stimulus Act Authority May Add $10-$15 Billion in Mortgage Sales This Year
McLean, VA – Freddie Mac (NYSE: FRE) has agreed to purchase billions of dollars of new conforming jumbo mortgages with original loan amounts up to $729,750 from Wells Fargo Home Mortgage, Chase, CitiMortgage and WaMu. Freddie Mac conforming jumbo mortgages can be used to finance properties in hundreds of high cost markets designated in the Economic Stimulus Act of 2008 President Bush signed on February 13.
Today's announcement marks the first large-scale effort to jump-start the stalled jumbo mortgage market under the Economic Stimulus Act, which temporarily raised Freddie Mac's conforming loan limit from $417,000 to as much as $729,750 through December 31, 2008. Freddie Mac's purchase of conforming jumbo mortgages is restricted to 224 high cost markets where median home prices exceed Freddie Mac's $417,000 loan limit.
As a result, qualified borrowers can now apply for an array of fixed-rate or adjustable rate conforming jumbo mortgages that will be less expensive than non-conforming jumbo loans in high cost markets. Borrowers can use Freddie Mac conforming jumbo mortgages to finance up to 90% of a property's value.
Because Freddie Mac is buying the new conforming jumbo mortgages for its portfolio, Wells Fargo, Chase, CitiMortgage and WaMu will have instant liquidity and can offer a stable jumbo market rate to qualified borrowers. By working with Wells Fargo, Chase, CitiMortgage, WaMu and other national lenders, Freddie Mac expects to finance between $10 and $15 billion in new jumbo mortgages in 2008.
"Purchasing conforming jumbo mortgages for our portfolio shows how we can bring new liquidity to markets other investors have all but abandoned and make full use of the new tools Congress gave us to help restore stability during the current housing crisis," said Freddie Mac Chairman and CEO Richard Syron. "We initially expect conforming jumbo mortgages to have rates that are as much as half a percentage point below the jumbo market rate in many of these high cost markets."
"I want to thank Wells Fargo, Chase, CitiMortgage and WaMu for working with us and enabling us, in a new way, to fulfill our public mission to America's lenders and borrowers," Syron added.
"CitiMortgage applauds Freddie Mac for agreeing to buy loans for these qualifying borrowers, and we are looking forward to working with Freddie and borrowers to improve housing affordability in these higher cost markets," said Bill Beckmann, CitiMortgage president.
"These new conforming jumbo mortgages will reduce homeownership costs for families in high-cost areas," said Dave Lowman, CEO of Chase Home Lending. "Freddie Mac's involvement will help increase availability."
"We value our relationship with Freddie Mac which enables us to collectively do great things for consumers," said Mike Heid, co-president of Wells Fargo Home Mortgage. "While Wells Fargo has offered jumbo loans directly to consumers throughout the current market correction, this important agreement provides a reliable investor for loans in high-cost areas which, in turn, further broadens our ability to serve these customers."
While specific product availability may vary by lender, Freddie Mac has said it will buy 15-, 20-, 30- and 40-year fixed-rate, fully amortizing conforming jumbo mortgages; 30-year fixed-rate mortgages with 10-year interest-only periods; fully amortizing 5/1 adjustable-rate mortgages (ARMs) and 5/1 ARMs with 10-year interest-only periods. Qualified borrowers can also obtain cash-out refinance conforming jumbo mortgages that provide a maximum cash-out of $100,000.
For more information on Freddie Mac conforming jumbo mortgage products, visit www.freddiemac.com/singlefamily/increased_limits.html.
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

Defining house-size problem

2008-04-17T11:13:00.004-06:00

My definition of loss of character occurs when regulations overly restrict the creative tools necessary to establish an interesting achitecture or genre`. What we are otherwise left with when restrictions are too limiting are homes that look like boxes so that every allowable square foot is useable space. It is a "loss of character" when porticos, carriage homes, gazebos, covered patios, dog houses, doll houses, sheds, green houses, studios and more are detered by regulations that define "loss of character" by house size or FAR (Floor Area Ratios).

Defining house-size problem
Boulder leaders address what exactly amounts to 'loss of character'

By Heath Urie (Contact)Wednesday, April 16, 2008

Boulder's leaders Tuesday night began formally discussing a problem involving large houses replacing smaller ones in established neighborhoods.
But they struggled for hours to define exactly what the problem is — or if there is one.
Boulder City Council members have said some new and remodeled homes are affecting "neighborhood character."
The council began an initial conversation Tuesday about how to move forward limiting "pops and scrapes," or smaller homes that are demolished and replaced with homes many thousands of square feet in size.
A proposal to temporarily limit house sizes was put on hold last week following public outcry and a recommendation by the Planning Board not to move forward with it.
After an extended debate that stretched into the late night, City Councilman Macon Cowles helped piece together a definition of the problem that leaders want to address.
It defined the goal, in part, as fixing the "loss of character of established single-family neighborhoods by assuring that new construction and additions are compatible" with existing neighborhoods.
It also included directing city staffers to include "due consideration" of house size, open space, mass, loss of space between houses, views, lot coverage, blank walls, setbacks, height and the visual character of individual areas when considering how to move forward with an ordinance.
The council also asked staffers to consider the loss of mature trees, older homes and how the city's solar-access ordinance affects the shape of houses.
"I do think that we've got to get more precise about what the problem is," Councilwoman Suzy Ageton said. "We're not clear yet. We need to start defining what it is that makes people feel that what's next to them is a mega-mansion."
Councilwoman Angelique Espinoza said the group might need to change how it's handling the matter completely, but she agreed with Cowles' definition.
"I would prefer, myself, to change the approach altogether," she said.
Espinoza said she wants to convene another "brainstorming" session where council members can perform a "gut check" about whether to go on spending money and time examining the issue of large houses.
"Some of these things it is our business to regulate, and some of these things I think may not be," Espinoza said.
The council also reached a general agreement that any ordinance aimed at limiting house sizes should focus on low-density residential zones, that it should not include affordable housing projects and should include an appeals process to address “unintended consequences.”
While they didn’t set a firm timeline for moving forward, most of the council agreed the issue should be resolved before the end of the year, although there was some concern about a lack of staff resources available to work on the project.
The city's Planning and Development Services division asked the council to answer some other basic questions, including whether it's worth spending between $80,000 to $100,000 to hire a consultant to study the issue further.
The council didn’t specifically address the issue, but gave an initial nod to using “consultants as needed.”
The first real move by the Boulder City Council on the topic of limiting large, "out-of-scale" houses could come at a May 6 meeting, when city planners will return after considering the council's Tuesday discussion.
Ruth McHeyser, acting planning director for the city, said she appreciates the council pausing from its first approach of pursuing a fast-track temporary ordinance.
"I think people are appreciating a little bit of our stepping back," she said.
One thing most of the council members agreed on with little debate was that moving forward with an interim ordinance to limit house sizes isn’t a good idea.
“One of the things we gained by stepping back was giving people some breathing space,” Ageton said. “I will not be supporting that kind of proposal.”

ConocoPhillips will bolster local economy, green movement

2008-04-16T18:46:00.000-06:00

ConocoPhillips will bolster local economy, green movement

By Shannon CoeSaturday, April 12, 2008

Who would have thought oil would seep its way into our green backyard? ConocoPhillips' purchase of the former StorageTek campus in Louisville is proving to be one of the more dramatic changes in our green community.
The Houston-based company will tear down most of the buildings on the 432-acre campus to build a global training center and global technology center, which will teach employees from more than 40 countries. The company made the $58.5 million purchase in January from Sun Microsystems, which is leasing the campus until the end of 2008 when development will begin for ConocoPhillips. ConocoPhillips is the powerhouse that will put Colorado in the lead for alternative renewable energy sources with the development of the new training campus that will have a high economic impact, especially in the Louisville community. It is a great addition to the area.
The company has a large portfolio of assets and is a well-established global company, with $194.5 billion in revenue in 2007. The original Conoco, Continental Oil Company, located its headquarters in Denver in the 1870s. ConocoPhillips has 600 employees currently in Colorado. It has a large gas line storage terminal in Commerce City, oil and gas production in Garfield County and a gas pipeline from Colorado to Texas. The number of permanent employees is not known, but the training facility will attract thousands of ConocoPhillips employees annually. The estimated number of permanent jobs is 10,000, which will create another 18,000; this will contribute $1.7 billion a year to the Louisville economy.
The development of the Louisville campus also will help aid Colorado's real estate sector. CB Richard Ellis, the potential developer, estimates construction on over 4.7 million square feet of building on the campus.
And ConocoPhillips is committed to contributing to renewable energy and carbon-fuel recovery. Its investment in renewable energy in 2007 was $150 million. ConocoPhillips is using this location for research and development for renewable energy. Fear-driven environmentalists are scared this will be a center for toxic waste. It will not only foster sharing of knowledge, innovation, and creativity, but it will certainly provide flexibility and alternatives for the ever-changing energy market.
ConocoPhillips' move also will establish Colorado as leading state for renewable energy. It will further legislation to require energy alternatives and support Colorado's $7 million dollar clean energy fund. Gov. Bill Ritter stated at a new conference announcing the deal, "They are building a bridge to the future by investing in new, cleaner technologies and in renewable energy."
Environmentalists, businesses, lawmakers and residents alike will be pleased with the changes big oil-tycoons, such as ConocoPhillips has made with their advanced efforts in the Green Movement. Check it out greenies, oil is in the cause!
Shannon Coe is from Boulder

Public Input on Judge Klein Due

2008-04-16T18:36:00.003-06:00

Public input sought on judge in 'land grab'
Hearing for judges up for retention set for Thursday
Camera staffOriginally published 07:56 a.m., April 16, 2008Updated 07:56 a.m., April 16, 2008

The Colorado Judicial Commission will hold a public hearing from 5 to 6:30 p.m. Thursday seeking input on six judges in the 20th Judicial District up for retention this fall.
The judges who will be on the November ballot include District Judge James Klein, who has drawn intense criticism for his decision to award one-third of a south Boulder couple's vacant lot to their neighbors.
Also up for retention are district judges Roxanne Bailin, Maria Berkenkotter and Gwyn Whalen, and county court judges John Stavely and Thomas Reed.
The hearing will be held in Courtroom F of the Boulder County Justice Center at Sixth Street and Canyon Boulevard in Boulder.
The commission will accept public input, either written or in person, from anyone who has had matters before those judges since Jan. 1, 2007.
Since 1990, judges in Colorado must have their names appear on the ballot every four or six years. Voters can choose to either keep the judges on the bench or kick them off.
The Colorado Judicial Commission issues recommendations in the "blue books" that are distributed to voters every election.
Letters also may be sent to William Eckert, 20th Judicial District Judicial Performance Commission, 5431 Omaha Place, Boulder, CO 80303.
Letters must include the name and address of the person submitting the comments, and the judge will receive an anonymous copy of the letter.

2008-04-16T18:28:00.003-06:00

McLean, Stevens deny path was recently fabricated
Judge nears 'land grab' rehearing
By Heath Urie (Contact)Wednesday, April 16, 2008

Courtesy Don and Susie Kirlin
This photo taken one day after Richard McLean and Edith Stevens filed a lawsuit seeking a portion of the Kirlins' lot in October 2006 shows no visible path on the lot, according to the Kirlins.

Courtesy Don and Susie Kirlin
This photo, taken by Don Kirlin in November 2007, shows a section of an 80-foot walkway that cuts across the Kirlin property on Hardscrabble Drive in south Boulder. The path arches around three pine trees and back toward the street down a small hill.
A Boulder County District Court judge charged with revisiting a controversial land dispute should not consider "outrageous" claims that Richard McLean and Edith Stevens lied to win their case, according to the couple's attorney.
In court documents submitted Tuesday, Boulder attorney Kim Hult responded pointedly to accusations made by Don and Susie Kirlin that their neighbors fabricated a path across their Hardscrabble Drive vacant lot.
The thin dirt trail, which has come to be known as "Edie's Path," was a critical piece of evidence that in part led Judge James C. Klein last fall to award about a third of one of the Kirlins' lots to McLean and Stevens under the longtime legal concept of "adverse possession."
The path, McLean and Stevens successfully argued at trial, represented more than the 18 years ofcontinuous use required by state law in order to assert the squatter's-rights law.
However, the Colorado Court of Appeals earlier this month granted a request by the Kirlins to send the case back to Klein based on "new evidence" that, they say, indicates the path was faked.
The Kirlins are asking Klein to overturn his trial court decision based on aerial and ground photographs of the disputed property and sworn affidavits of neighbors who say the path was a recent creation -- not the result of longtime use.
Hult's response to the Kirlins' package of evidence included an argument that Klein is under no obligation to find in favor of the Kirlins because they knew about, but failed to use, certain evidence in the original trial.
"In the apparent hope that the negative publicity garnered about the court's judgment will produce a new result on remand, Kirlin seeks to retry this case with long-available evidence to support arguments he made at trial," Hult wrote.
She said the Kirlins' evidence does not point to misconduct on the part of her clients.
"(The Kirlins') 'new' evidence proves little, other than that his witness cannot agree about when Edie's Path was allegedly 'fabricated,'" she wrote. "(They) further misunderstand the significance of the path, which was evidence of but one of McLean's many uses of the disputed property proved at trial."
She argued that the path, by itself, did not win the trial for McLean and Stevens.
"Kirlin, therefore, fails to prove -- by clear and convincing evidence -- that the alleged 'fabrication' of the path would have altered the outcome at trial had he chosen to introduce his 'new' evidence then," Hult wrote.
Hult's filing also includes more than 10 sworn affidavits in support of McLean and Stevens -- including two signed by McLean and Stevens themselves.
"My wife, Edie Stevens, and I have not taken any action to alter the condition of Edie's Path or to 'fabricate' that path after the filing of this case," McLean wrote.
Other witnesses include several former law clerks for McLean -- a former Boulder district judge -- who wrote that they recalled attending parties at the couple's home in which a nearby path was used.
On Tuesday, McLean said the paperwork "says it all" and declined to talk about the pending case.
Susie Kirlin said she hadn't seen the response Tuesday night and didn't want to comment except to say she feels she and her husband have a "strong case."
Both of the attorneys involved in the case said it would be inappropriate to comment.
Andy Low, the Kirlins' attorney, has until April 24 to file a response to Hult's brief.
Klein has been urged by the Colorado Court of Appeals to act quickly to resolve the Kirlins' request. The judge has the option to hold a limited hearing with each side, a full hearing complete with witnesses or to make a decision about the case after reviewing the written arguments.
The Kirlins have said they plan to continue the appeals process if Klein rules against them again.

Top 10 Best Cities for Home Sellers and Buyers

2008-04-11T14:27:00.002-06:00

Daily Real Estate News April 10, 2008

Top 10 Best Cities for Home Sellers Four factors are widely seen as affecting whether a housing market is a good one for sellers: job growth, amount of new construction, vacancy rates, and credit availability. Forbes magazine used a variety of resources to determine how the country’s 40 largest metro areas fared according to these measures. The result is this list of top 10 cities for sellers.

San Jose, Calif. Because of a tough regulatory environment, new home construction dropped 63 percent last year.San Francisco. When the conforming loan limit recently jumped from $417,000 to the maximum $729,750, that made credit much easier to get for many of the city's homebuyers.
Salt Lake City. The 3 percent annual job growth rate, paired with a declining inventory of existing homes and one of the nation’s sharpest declines in construction made this market a good one for sellers.
Austin, Texas . Texas is very affordable, plus the city has the nation’s fastest job growth at 4.1 percent.
Kansas City, Mo. The number of unsold, vacant houses dropped by 40 percent last year.
San Antonio, Texas . Jobs are growing by 3 percent and construction starts have dropped by 42 percent.
Denver. The 49 percent drop in construction starts paired with the 2 percent rise in new jobs are good news for sellers.
Providence, R.I. Vacancy rates at 1.6 percent combined with a 42 percent cut in inventory help sellers.
Charlotte, N.C. Moderate prices and strong job growth bode well for sellers.Seattle, Wash. Strong job growth and a 42 percent decrease in new home construction are good news for sellers.

Source: Forbes, Matt Woolsey (04/07/2008)

Govenor Ritter To Receive Adverse Possession Bill

2008-04-10T18:43:00.001-06:00

Ritter receives 'adverse-possession' bill for approval

By Heath Urie Originally published 03:40 p.m., April 3, 2008Updated 03:23 p.m., April 3, 2008
STORY TOOLS
A bill that would change the longtime legal concept of “adverse possession” gained final approval from the Colorado General Assembly today and is on its way to Gov. Ritter’s desk.
Evergreen Republican Rep. Rob Witwer and Boulder Democrat Sen. Ron Tupa are co-sponsoring House Bill 1148, which the pair crafted in the wake of a controversial Boulder land dispute.
McLean and Stevens sued neighbors Don and Susie Kirlin in 2006, using the long-standing doctrine — essentially a squatters’ rights law — to claim the land next door.
Ritter has 30 days to either approve or veto the bill, which has garnered overwhelming support among state lawmakers.
If he approves it, a “good faith” provision and other requirements would be added to the law of adverse possession, which now allows trespassers to claim land after using it openly and continuously for at least 18 years.
Witwer said the bill is a victory for property owners.
“It’s a great day for private-property rights,” he said. “I only wish we could have done it sooner.”
Tupa has said the bill will likely become “one of the strongest adverse-possession laws in the country.”
House Bill 1193, introduced by Rep. Claire Levy, D-Boulder, also is awaiting Ritter’s final approval.
If Ritter signs that bill, Colorado judges would be barred from presiding over cases involving other current or former judges within the same jurisdiction.
Levy said she sponsored the bill in reaction to the Kirlin case.
© 2006 Daily Camera and Boulder Publishing, LLC

Boulder City Council agrees to hold off on home-size regulations

2008-04-10T15:16:00.000-06:00

Boulder City Council agrees to hold off on home-size regulations
Wilson: 'I think we need to step back'
By Heath Urie Wednesday, April 9, 2008

Public outcry and a recommendation by the Boulder Planning Board not to move forward with a temporary ordinance limiting house sizes prompted the City Council to put the issue on hold late Tuesday night.
In a surprise move after 10 p.m., the council voted unanimously not to hear a first reading of an interim ordinance on the matter, which had been scheduled for its April 15 meeting.
Instead, the council will hold a discussion at next week's public meeting about the possible options for crafting such an ordinance. It will not consider any formal plan.
Mayor Shaun McGrath proposed holding off on the matter at the end of a special meeting in which the council appointed Jerry Gordon as city attorney.
McGrath said he's simply heard too many negative responses about the ordinance, which the entire council previously indicated would be a positive step toward eliminating "pops and scrapes," or huge homes built on the lots of demolished smaller ones.
"It's my belief that, given the input we received from the Planning Board, the direction we gave focused on (floor-area ratios) ... may not really work in a lot of ways," McGrath said.
The Planning Board last week agreed that using a proposed "floor-area ratio" calculation -- or the percentage of a lot covered in finished square footage of a house on all levels -- to tell people how big a house can be is a "blunt tool" that does not achieve the council's goals of controlling the largest homes and preserving neighborhood character.
Many of the board members said they were concerned the City Council would act to draft a short-term ordinance regardless of the board's recommendation.
Opponents of the measure also say it would violate personal property rights and could harm the local economy.
On Tuesday, Councilman Ken Wilson supported McGrath's call for a slowdown in the face of mounting opposition to the plan.
"I think we need to step back and think about the process," he said.
Wilson said, based on the sliding national economy and tightening credit market, an increase in so-called speculation homes in Boulder isn't likely to be an immediate concern.
Councilwoman Susan Osborne said she's received more than 1,100 e-mails about the proposed ordinance and that the community is feeling disengaged from the process in general.
"We need to take the time to think about how we have that discussion," Osborne said. "I think the bigger shame would be having a large sector of our community feeling like we didn't listen ... that we didn't get it that their values and issues weren't being addressed.
"I think it makes a lot of sense to take some time with our staff to figure out how we go forward."
The matter will be placed on the council's April 15 agenda under the title, "discussion of options to address remodels and demolition rebuilds that greatly impact established neighborhoods."
The public will be allowed to speak for 45 minutes during public participation time.
© 2006 Daily Camera and Boulder Publishing, LLC.

Commissioners OK green-building code

2008-04-10T15:12:00.000-06:00

Commissioners OK green-building codeOfficials delay acting on county house-size limits
By John Fryar Longmont Times-Call

BOULDER — Starting with building permits issued on or after May 1, any new houses constructed in unincorporated Boulder County will have to conform to “green” standards.
On Tuesday night, County Commissioners Ben Pearlman, Cindy Domenico and Will Toor approved requiring energy efficiency and waste reduction in new-home design and construction by adding “Boulder County BuildSmart” standards to Boulder County’s building code.
The new code provisions will apply to all work on new residential construction requiring a county building permit, including new houses, renovation and remodeling projects, and additions to existing homes.
Boulder County’s green-building requirements will escalate with the size of the residential construction project, with stiffer standards applied to larger houses in an effort to reduce both energy use and greenhouse-gas emissions.
County commissioners on Tuesday did not, however, complete work on a separate program that could affect the sizes of future houses built in rural Boulder County.
That program proposes to set square-footage thresholds on new homes constructed in unincorporated areas. It would also require applicants to buy development rights before the county would allow them to proceed with construction of houses larger than those thresholds.
Commissioners did tentatively decide that 3,500 square feet of floor area should be the countywide house-size threshold that would trigger the development-rights purchase requirement.
Subterranean basements of any size would not count against that threshold, but walk-in basements would. Also not counting against the 3,500 square-foot total would be up to 1,000 square feet of garage space and storage areas.
Pearlman said that by not including those basements, garages and storage sheds in the square-footage tally, “we’re still talking about very large structures” that could be built without first having to buy development rights.
Commissioners are expected to resume their consideration of proposed Boulder County house-size restrictions, and conditions for exceeding those limits, on May 6.
John Fryar can be reached at 303-684-5211 or jfryar@times-call.com.
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Austin vs Boulder FAR Home Size Limits

2008-04-10T14:03:00.008-06:00

It is my opinion that we will need to wait a few more years for the negative fall out. The little old lady has been effected but we still have to wait for the data to come in and for those looking at this issue to ask the right questions.

The data will show that the suburban areas will appreciate now at a much higher rate than the urban area. Car traffic will incease, the area will have gentrification as families move out of town....this is all short sighted. I believe whole heartedly in incentives...if this is what the town and people want...then the people need to create a "green" fund just as we have our open space fund to create programs to buy valuable lots, provide access to "green" technology and items, etc. Over regulating is never the solution.

Just my opinion. I am a democrat and I believe in protecting our environment but being the first in the door and closing it off to those others is wrong and also some of our beautiful Boulder Historic Treasures (mapleton hill homes for example) could not be built today with the regulations that we have already... Our Council is also being hypocritical by living in "mcmansions" by current views! I also find that a lot of people that want this have small to families of one...With the way our laws are today parents need to keep a watchful eye on their kids inside of our house for fear of someone complaining that we are not watchful enough or the kids getting hurt on some swing or tree and we are not around...I remember in my youth I would be outside and gone for hours without my parents knowing where I was, etc. It was freeing and creative! I rode horses, went for hikes, road bikes, knocked on my friends doors, played golf, road skates and skate boards, ran...! A very good experience for me. We are doing more and more out of our homes...working, playing, entertaining...

A paradigm shift needs to happen in Boulder. It seems that right now it is my view, my home and it includes my abililty to access this view through your home, your view... People should go back to the days of buying lots together to save it...or once again through a "green" fund created through taxes. The burden should not always be placed on the individual property owners or "developers" as some would like to say.

Austin city limits: A home-size example

Texas city imposed restrictions in 2006; observers split on outcome
By Ryan Morgan (Contact)Sunday, April 6, 2008

Regulations here and there
The measure limiting home sizes that the city of Austin imposed in 2006 is similar to proposals Boulder's elected leaders are considering. Both target "floor-area ratio" -- that is, the percentage of a homeowner's lot that's covered by square footage, including garages and outbuildings.
Austin's ordinance limits floor-area ratios to 0.4 and also restricts building to an "envelope" meant to protect nearby houses from being crowded. The measure guarantees homeowners on smaller lots that they'll be able to build a house of at least 2,300 square feet.
Boulder's officials have aired several possible floor-area ratio restrictions. Last month, City Councilman Macon Cowles suggested a temporary limit of 0.35 while officials debated a permanent measure. But he and other council members have since backed away from that number.
As Boulder's elected leaders consider whether to impose limits on large houses, they can look 1,000 miles to the south for a how-to guide.
The City Council of Austin, Texas, in 2006 passed an ordinance to limit the size of new houses after residents complained that "McMansions" were threatening the character of the city's older, "core" neighborhoods. Two years later, the ordinance gets mixed reviews.
Proponents say it's working well, while critics in real estate say it's needlessly complicated and threatens home prices.
The Austin ordinance limits "floor-area ratios" of new homes -- that is, the percentage of the lot that's covered by square footage -- to 0.4, but it gives the owners of small lots a minimum of 2,300 square feet to work with. The measure also requires new building to fit within an "envelope" meant to keep new construction from crowding its neighbors.
As in Austin, Boulder's officials are considering placing limits on floor-area ratios, although critics -- including some Planning Board members -- say those limits are too crude.
Danette Chimenti, an Austin resident who served on a task force that delivered the ordinance to the City Council, said she's happy with what it produced. The measure was a compromise, she said, so it wasn't as restrictive as some "McMansion" critics would have liked.
"I think the general feeling, and my personal opinion, is that it has helped some," Chimenti said. "It hasn't been a cure-all. It hasn't totally stopped some of the out-of-scale development that was happening in neighborhoods."
But Chimenti said the ordinance also is notable for what it hasn't done: destroy Austin's housing market, as critics feared. Homeowners, real estate agents and builders in Boulder have voiced similar concerns."In Austin, the real estate market is still pretty strong," Chimenti said. "No little old ladies lost their nest eggs, and all the dire stuff. There have been no negative consequences in that realm."
Building activity actually increased in 2007 and into this year, although it has since slowed slightly. But Harry Savio, vice president of the Home Builders Association of Greater Austin, said it's hard to tell what would have happened without the ordinance.
Savio's organization unsuccessfully tried to keep the measure from passing. He said he's been flooded with complaints from builders about it.
"There's been some decline in the demand for this kind of housing, but it's hard to distinguish between how much of that is caused by the ordinance and how much has been because of national declines in housing," Savio said.
The real problem with the ordinance, Savio said, is that it's complicated and "draconian." And its impact may not be felt for years, as the real estate market picks up and consumer demand for larger houses returns, he said.
"You can't tell by looking at Austin today -- it's going to be five, 10 years from now for us to see results," he said. "My forecast is that instead of coming back in and going into the core of the city, it's just going to strengthen the suburban high-end subdivisions," which don't put caps on home sizes.
Savio said he couldn't defeat the ordinance, but he did encourage builders and homeowners to rush their building plans down to the city's planning department before the City Council imposed any limits.
"When we knew the ordinance was coming down the pike, we got the word out to our members and encouraged anyone who had a plan on the boards to get it finished up quickly and get it to the city," he said. "I told people, 'If you have anything at all, hard-line it and get it in.'"
So far, that rush hasn't happened in Boulder: The city's planning department said the number of permits requested so far this year trails those issued last year.
Karen McGraw, an architect who helped draft the Austin ordinance, said it's flexible enough to give people the space they need. For example, the square footage of many basements and attics doesn't count toward limits.
The ordinance's goal -- which McGraw thinks has succeeded -- is to keep new homes from towering their neighbors.
"We are a city of many one-story homes and many modest homes, so the relationship to existing development is really the most important thing," she said.

Property Rights is the Core to Individual Freedom

2008-04-03T19:04:00.003-06:00

As one of the few moderate Democrats out there I really have struggled with the issue of rights in general. Whether it is my right as a woman to work outside of the home, my right to walk next to if not in front of my spouse, the right to voice my opionion as a woman and have it respected, the right to decide what happens to my body and to seek great health care...these rights are very treasured to me.... So this video clip helped me see even more of a relationship between private property and our individual freedoms. I hope it gives you pause to think about the relationship between all of our private property; whether it is real estate or not, and our individual freedoms.

http://www.youtube.com/watch?v=87-W7NO5E3E

Don't give your freedoms away or allow regulations to take your neighbors private property away. It will only serve to hurt your individual freedoms!

2008-04-03T18:50:00.002-06:00

This is at least one less thing that private property owners have to worry about in Colorado but there is still some concern about when this law takes effect! (18 years ago from the start of the adverse possession or on this year being the first year for the start of adverse possession). Hopefully Governor Ritter will sign this!

Ritter receives 'adverse-possession' bill for approval
By Heath Urie (Contact)Originally published 03:40 p.m., April 3, 2008Updated 03:23 p.m., April 3, 2008
STORY TOOLS
A bill that would change the longtime legal concept of “adverse possession” gained final approval from the Colorado General Assembly today and is on its way to Gov. Ritter’s desk.
Evergreen Republican Rep. Rob Witwer and Boulder Democrat Sen. Ron Tupa are co-sponsoring House Bill 1148, which the pair crafted in the wake of a controversial Boulder land dispute.
McLean and Stevens sued neighbors Don and Susie Kirlin in 2006, using the long-standing doctrine — essentially a squatters’ rights law — to claim the land next door.
Ritter has 30 days to either approve or veto the bill, which has garnered overwhelming support among state lawmakers.
If he approves it, a “good faith” provision and other requirements would be added to the law of adverse possession, which now allows trespassers to claim land after using it openly and continuously for at least 18 years.
Witwer said the bill is a victory for property owners.
“It’s a great day for private-property rights,” he said. “I only wish we could have done it sooner.”
Tupa has said the bill will likely become “one of the strongest adverse-possession laws in the country.”
House Bill 1193, introduced by Rep. Claire Levy, D-Boulder, also is awaiting Ritter’s final approval.
If Ritter signs that bill, Colorado judges would be barred from presiding over cases involving other current or former judges within the same jurisdiction.
Levy said she sponsored the bill in reaction to the Kirlin case.

Details and Drafts of Boulder County Expanded TDR Including Structure Size Threshold

2008-04-03T18:07:00.002-06:00

2nd draft for April 8, 2008

4-1300 – Expanded TDR Program and Structure Size Thresholds for Single Family Uses
Introduction and Purposes
1. This Section 4-1300 establishes structure size thresholds for single family residences, above which additional Development Credits must be obtained to offset the impacts of larger scale homes, and below which Development or Credits can be sold to preserve a supply of smaller scale homes. These regulations also provide for the transfer of Development Credits to maintain rural character through the preservation of vacant land.
2. These regulations are adopted to implement the goals and policies in the Sustainability Element of the Boulder County Comprehensive Plan. Those goals and policies include:
a. Preserving the rural character of unincorporated Boulder County, especially those areas with particular historic or contextual character;
b. Promoting more sustainable development through incentives, education and regulation;
c. Allowing for the impacts of larger scale home development to be offset through the preservation of vacant land and smaller scale residential development elsewhere in the County;
d. Providing flexibility for property owners to build and keep smaller scale homes which will help provide a diversity of housing stock in unincorporated Boulder County; and
e. Promoting and preserving vacant land by creating incentives for property owners to leave land undeveloped.

4-1301 – Division of the County into Geographic Areas
For purposes of this article 4-1300, unincorporated Boulder County is divided into the following two geographic areas:
1. Mountain Area – The Mountain Area includes the mountainous areas of the County as defined in the Land Use Code Section 18-178A (the area west of CO 93 from its intersection with the south county line to the City of Boulder, west of the City of Boulder city limits, west of US 36 from the City of Boulder to CO 66, and west of the St. Vrain Supply Canal from CO 66 to its intersection with the north county line),
2. Plains Area – The Plains Area includes all areas of the County that are not included in the Mountain Area.
a.

4-1302 – Single Family Size Threshold
A. The Size Threshold is the measure of single family residential floor area that is allowed on a legal building lot without having to purchase Development Credits, as further provided below. Building lots with residential floor area at a specified level less than the Size Threshold may sell Development Credits, as further provided below.
1. Size Threshold to be applied county-wide
·

a. Total residential floor area equal to X,XXX square feet, excluding the following floor area:
i. subterranean basements as defined in Article 18,
ii. up to 500 square feet of attached or detached garage floor area,
iii. up to 500 square feet of detached unconditioned storage floor area, such as a storage shed, and
iv. up to 500 square feet of covered porches or decks.
b. This total floor area includes all other residential accessory structures including but not limited to studios and home offices.
·
B. Structures exempt from the Size Threshold are manufactured homes located in a zoned Manufactured Home Park; nonresidential structures including agricultural accessory structures such as barns and loafing sheds; and Agricultural, Family Care and Historic Accessory Dwelling Units that are approved though a special review process.

1.
a.
1.

4-1303 –Conveyance and Severance of Development Credits
A. Development Credits may be conveyed either in a private market transaction or through the County Clearinghouse (see Section 4-1305, below).
1. For Development Credits conveyed through private market transactions, the parties must obtain Development Credit Certificates from the County Clearinghouse in advance of conveyance.
a. Adequate documentation of private transactions, such as purchase agreements or bills of sale, must be submitted to the County Clearinghouse within five business days after the closing of the transaction, for registration purposes.
b. The County Clearinghouse may request information as necessary to provide adequate evidence of the private transaction.
2. Boulder County may sell or donate Development Credits to the County Clearinghouse from properties purchased by the Boulder County Parks and Open Space Department under the rules and policies governing the operation of the Clearinghouse, contained in Section 4-1306, below, and the purchase of properties by the Parks and Open Space Department.
B. Conveyance of Development Credits from Vacant Building Lots
1. Development Credits may be conveyed from vacant building lots, and any future development potential removed from the subject parcel, based on the following :
a. In the Plains Area
i. The parcel must be a building lot.
ii. The building lot must have legal access.
iii. The property owner may offer to grant a conservation easement, or other preservation instrument, on the property to either the County or another land preservation entity approved by the County, keeping the property vacant in perpetuity. If such offer is accepted, the property owner retains fee title to the lot and will receive ten Development Credits, which may then be held by the property owner or sold to either the County Clearinghouse or on the private market.
iv. The property owner may offer to sell the lot in fee to either the County or another land preservation entity approved by the County. If such offer is accepted, the property owner will receive twelve Development Credits, which may then be held by the property owner or sold to either the County Clearinghouse or on the private market.
b. In the Mountain Area
i. The parcel must be a building lot.
ii. The building lot must have legal access.
iii. The property owner may offer to grant a conservation easement, or other preservation instrument, on the property to either the County or another land preservation entity approved by the County, keeping the property vacant in perpetuity. If such offer is accepted, the property owner retains fee title to the lot and will receive five Development Credits which may then be held by the property owner or sold to either the County Clearinghouse or on the private market.
iv. The property owner may offer to sell the lot in fee to either the County or another land preservation entity approved by the County. If such offer is accepted, the property owner will receive seven Development Credits, which may then be held by the property owner or sold to either the County Clearinghouse or on the private market.
(a) c.
C. Severance of Development Credits from Vacant or Developed Building Lots where development is to be restrictred
1. Development Credits may be severed from either vacant or developed building lots, and any future development restricted on the subject lot, based on the following:
a. The parcel must be a building lot.
b. The building lot must have legal access.
c. For Developed Building Lots, only detached single family residential floor area is eligible for these size restriction.
d. The property owner must restrict their property to the size, measured in square feet of residential floor area as calculated in Section 4-1302.A.1a., above, noted below and receive the designated Development Credits specified below:
i. Development restricted to 2,000 square feet of residential floor area and may receive two Development Credits.
ii. Development restricted to 1,500 square feet of residential floor area and may receive three Development Credits.
iii. Development restricted to 1,000 square feet of residential floor area and may receive four Development Credits.
2. The owners of eligible lots shall receive the authorized number of Development Credits upon the granting of a restrictive covenant or other county approved preservation instrument to assure that the restriction imposed on the size of future development will run with the property in perpetuity.
3. A developed lot, whose owner restricts the size of development on that property under this Section, may redevelop to the maximum size included in that deed restriction.

i.
D. Additional Development Credits may be awarded for either vacant or developed building lots from which Development Credits are conveyed, as a bonus for significant conservation values found to exist on such lots, subject to the provisions of this subsection. Vacant property purchased by the Boulder County Parks and Open Space is not eligible for Bonus Development Credits.
i. Bonus Development Credits may be awarded to a particular lot based on a site-specific assessment of the parcel by the County Parks and Open Space Department.
(a) The availability of Bonus Development Credits will be based on the number and extent of significant conservation values which the Parks and Open Space Department in its sole discretion finds associated with the specific building lot.
(b) Such review will be undertaken upon request of the building lot owner.
(c) The award of Bonus Development Credits is limited to a maximum of five Development Credits per building lot.
ii. Significant conservation values based on which the County Parks and Open Space Department may award Bonus Development Credits include:
(b) Preservation of Resources – The lot(s) contains natural, cultural or ecological resources as outlined in the Boulder County Comprehensive Plan that will be preserved thorough a restriction on development on the lot, such as critical ecosystems (riparian habitat, natural areas or landmarks, scenic vistas or view corridors, wildlife habitat and migration corridors) historic or archaeological areas, or cultural resources.
(c) Urban Shaping – The lot(s) helps to create significant buffer zones between communities or between residential and nonresidential uses, including but not limited to rural preservation areas specified in County intergovernmental comprehensive planning agreements with municipalities.
(d) Other Open Space Benefits – The lot(s) offers linkages to trails or other open space properties, provides access to public lakes, streams or other usable open space properties, eliminates private property enclaves, or expands current pubic land holdings.
(e) Agricultural Water Rights – The lot(s) have agricultural water for irrigation tied to the land to be preserved in accordance with Parks and Open Space policy.
E. Limitations on the Use of Development Credits on Preserved Lots
1. Once a property owner has severed the Development Credits from a vacant lot under Section 4-1303.B, above, Development Credits may not be repurchased to allow development on that lot.
2. Once a property owner has severed Development Credits from a lot where development has been restricted under Section 4-1303.C.., above, the preservation instrument restricting development on that lot may be amended to allow the purchase and use of Development Credits to increase the floor area allowed on that lot up to a maximum of 2,000 square feet.
a. Prior to the issuance of a building permit for the allowed increase in floor area, the owner must execute and record an amended preservation instrument approved by the Clearinghouse to memorialize the new restricted floor area.

b. The property owner shall submit the required Development Credit Certificates along with building permit application for construction of the additional square footage.

4-1304 – Acquisition and Use of Development Credits for Construction of Residential Floor Area
A. Requirement for acquisition of Development Credits – For residential floor area approved through the Site Plan Review process or other applicable County review process, which exceeds the Size Threshold in Section 4-1302, above, Development Rights or Credits must be acquired prior to the issuance of a building permit for the approved development.
B. Development Credits must be obtained for development of floor area greater than the Size Thresholds according to the following table.

.
Number of square feet
Number of Credits
Total Additional Square Footage
Total Credits for Additional Square Footage
1st 500
1
500
1
2nd 500
1
1000
2
3rd 500
2
1500
4
4th 500
2
2000
6
5th 500
3
2500
9
Each additional 500
3

C. Process for the acquisition of Development Credits
1. In the case of either a private transaction or purchase from the Clearinghouse, the Clearinghouse shall issue the appropriate Development Credit certificates. Certificates may be acquired in a private transaction at any time, and applicants purchasing Credits prior to a site plan review approval do so at their own risk. Certificates may not be acquired from the Clearinghouse for development exceeding the applicable size threshold until the development has received final County Site Plan Review approval.
2. Any building permit application for a single family residential structure greater than the applicable Size Threshold shall not be considered complete without the submission of the necessary Development Credit certificates and completion of any required land use process.
C. Relationship between Size Thresholds Existing Single Family Residential Structures
1. Existing single family residential structures are not subject to the Size Thresholds; however, any addition of residential floor area to an existing structure which increases the total residential floor area to a size greater than the specified size threshold, will be subject to a requirement to purchase Development Credits to offset the portion of that additional residential floor area above the threshold.
2. The number of Development Credits required will be based on the additional square footage of the addition.

4-1305 – Boulder County Development Credits Clearinghouse
A. Short Title
1. The Boulder County Development Credits Clearinghouse (also referred to as the “Clearinghouse”) shall be established to assist in the administration of this Article 4-1300.
B. Duties and Responsibilities
1. Purchase and Sale of Development Credits – The Clearinghouse will have the ability to purchase Development Credits from willing sellers, and to sell Credits to willing buyers needing additional floor area for their single family residential development.
2. Registration of the Development Credits – The Clearinghouse will maintain a registration of the Development Credits available for purchase either through private market transactions or through the Clearinghouse, and of Development Credits that have been purchased and sold.
3. Issuance of Development Credit Certificates – The Clearinghouse shall be responsible for the issuance of Development Credit Certificates to be used in both private and Clearinghouse transactions to convey or acquire Development Credits.
4. Recordation – The Clearinghouse shall oversee the recordation of the necessary approved documents to assure that development size limitations and vacant land preservation encumbrances on specific lots associated with the transfer of Development Credits are maintained as required in this Article 4-1300.

4-1306 – Application of These Regulations
A. The following development shall be exempt from compliance with the Size Thresholds outlined in Section 4-1302:
1. The specific development recognized in any land use approval granted prior to the effective date of these regulations, which is within the statutory vesting period granted under Section 3-207 of the Land Use Code (codifying Part 1 of Article 68, Title 24, C.R.S.). The applicable statutory vesting period is specified in the Commissioners’ resolution approving the subject development. Once the statutory vesting period expires, the development becomes subject to these regulations.
2. The specific development for which a complete application for a County building permit has been submitted prior to the effective date of these regulations. If any building permit issued under this subsection expires or is not lawfully pursued, the development becomes subject to these regulations.
3. The specific development approved as a site plan review under Article 4-800 of this Code (whether approved solely as a site plan review request, or as a site plan review request combined with another form of land use review), pursuant to a complete application submitted on or before September 7, 2007. This exemption lasts for the three-year period specified in Section 4-810.A., after which the site plan review approval expires and the development becomes subject to these regulations.
·
4. The specific development recognized in a Commissioners’ authorization for a firm, numerical house size to be built, under the following circumstances:

a. The house size is stated in a land use approval granted pursuant to a complete application submitted on or before September 7, 2007, for which a recorded conservation easement was required or agreed to as part of the approval. This exemption does not apply, however, where the conservation easement was anticipated or required under the general land use regulations governing the development, such as PUD, NUPUD, and TDR sending site regulations. This exemption also does not apply where the house size allowance in the subject approval is stated presumptively (as opposed to authorizing a definite size), or where the size allowance applies to multiple structures (making it difficult to determine the particular size authorized for the residence itself).
b. The house size is stated in a land use approval granted pursuant to a complete application submitted on or before September 7, 2007, for which no conservation easement was required or agreed to as part of the approval. This exemption also does not apply, however, where the house size allowance in the subject approval is stated presumptively (as opposed to authorizing a definite size), or where the size allowance applies to multiple structures (making it difficult to determine the particular size authorized for the residence itself). In addition, this exemption lasts only for three years following the date of adoption of the Commissioners’ resolution governing the subject land use approval.
5. The restoration of a structure under Section 4-802.B.3, where a structure has been damaged or destroyed by causes outside the control of the property owner or agent.
B. For purposes of interpreting the exemptions contained in Section A, above, the following additional provisions shall govern:
1. The effective date of these regulations shall be the effective date stated in the Commissioners’ resolution approving the regulations.
2. Approvals granted prior to the effective date of these regulations shall be approvals that have a final Commissioners’ vote of approval before the regulations’ effective date.
3. A requirement for a complete application to be filed, means a complete application as determined by the Director with reference to this Code’s or the Building Code’s submittal requirements for the application in question.
4. The reference to an exemption applying to the “specific development” in a submitted or approved application means the exact development in the submitted or approved application, with only minor modifications being allowed in the discretion of the Land Use Director.
C. The Land Use Director is empowered to make interpretations regarding the application of the exemptions stated in Section A., above, to specific development. In making interpretations, the Land Use Director shall consider the purposes of the regulations in this section, as well as the principles of interpretation and rules of construction contained in Article 1 of this Code. Any aggrieved party may appeal the Director’s final interpretation under this Section to the Board of County Commissioners, provided that any such appeal shall be in writing, and shall be filed with the Land Use Director no later than 30 days following the date of the Director’s final interpretation.

4-1307 – Review and Amendment of These Regulations
A. The Board of County Commissioners will undertake a review of this Article 4-1300, including the Size Thresholds and the operation of the Clearinghouse, six months after the effective date of these regulations.
B. After that initial review, the Board may establish a regular time interval for continued review of this program.

Site Plan Review Amendments
4-806 Site Plan Review Standards
All site plan review applications shall be reviewed in accordance with the following standards which the Director has determined to be applicable based on the nature and extent of the proposed development. When two or more of the standards listed below conflict, the Director shall evaluate the applicability and importance of each of the conflicting standards under the facts of the specific application and make a reasonable attempt to balance the conflicting standards in reaching a site plan decision.
1. To provide a greater measure of certainty as to the size of single family residential development which is compatible with the general character of the applicable neighborhood or surrounding area, the following presumptions definition of neighborhood or surrounding area shall be used to review proposed Site Plan Review applications:
a. For applications outside of platted subdivisions with seven or more developed lots or the townsites of the Allenspark, Eldora, Eldorado Springs, Gold Hill, Greater Allenspark, Hygiene, Raymond and Riverside Special Character Areas, the applicable defined neighborhood or surrounding area is the area within 1500 feet from the applicable parcel. The neighborhood or surrounding area shall not include any parcels inside municipal boundaries, platted subdivisions with seven or more developed lots or the townsites of Allenspark, Eldora, Eldorado Springs, Gold Hill, Raymond and Riverside.
b. For applications within inside the Allenspark, Eldora, Eldorado Springs, Gold Hill, Greater Allenspark, Hygiene, Raymond and Riverside Special Character Areas, the applicable neighborhood or surrounding area is defined as the mapped townsite. area defined as that applicable Special Character Area.
c. For applications inside platted subdivisions which have seven or more developed lots, the neighborhood or surrounding area is that platted subdivision.
2. The size of the proposed development must be compatible with the topography, vegetation, and general character of the applicable defined neighborhood or surrounding area. The height, size, location on the parcel, exterior materials, color, and lighting of proposed structures shall be compatible with the topography, vegetation, and general character of the applicable defined neighborhood or surrounding area.
a. In determining size compatibility of residential structures with the defined neighborhood, it is presumed that structures of a size within 125% of the median above grade floor area for that defined neighborhood or area are compatible with that neighborhood.
i. The Boulder County Assessor’s Records will be the source of data to determine the median above grade size within that defined neighborhood or area.
ii. Median above grade floor area will exclude subterranean basement floor area, as defined in Section 18-162.B.1.
b. Development compatible with the general character of that applicable neighborhood or area is development that is of a size within 125% of the median single family residential floor area for parcels in the defined neighborhood or area.
b. Either the applicant or the Director may demonstrate that these this presumptions does not adequately address the neighborhood size compatibility of the proposed development with the defined neighborhood.
i. Factors to be considered when determining the adequacy of these this presumptions in addressing neighborhood compatibility include:
(a) The Visibility of the proposed structure(s) from other private parcels within the defined neighborhood or areas, as well as public roads and open space both within and outside that defined neighborhood or area.
(i) To overcome this size presumption, the structure must be minimally visible other private parcels within the defined neighborhood or areas, as well as public roads and open space both within and outside that defined neighborhood or area.
(ii) Mitigation factors to be considered in determining the visibility of the proposed development include the use of topography to screen the proposed development and distance of the proposed development from other private parcels, pubic roads and open spaces;
(b) transportation routes or topographic features on or around the parcel that delineate a coherent area provide separation between the subject parcel and other parcels in the defined neighborhood;
(b) the distribution of home sizes within the defined neighborhood, taking into consideration the home sizes most closely adjacent to the subject property; and
(c) common development patterns within the defined neighborhood, including considering such features as the bulk and mass of residential structures size, structure height and location on the parcel, and lot size and lot coverage.; and
(d) boundaries of platted subdivisions or other established communities.
b. In addition to the presumed size of the proposed development, other factors to be used in determining compatibility with the defined neighborhood include the following:
i. the height, size, bulk and massing of the proposed structure;
ii. setbacks and location of development on the parcel;
iii. exterior materials, color, and exterior lighting of proposed structures shall be compatible with the topography, vegetation, and general character of the applicable defined neighborhood or surrounding area.
3. The location of existing or proposed buildings, structures, equipment, grading, or uses shall not impose an undue burden on public services and infrastructure.
4. Plans for the proposed development have satisfactorily mitigated any geologic hazards, such as expansive soils, subsiding soils, questionable soils where the safe-sustaining power of the soils is in doubt, or contaminated soils, landslides, unstable slopes, rockfalls, and avalanche corridors, as identified in the Comprehensive Plan, or through the site plan review process.
5. The site plan shall satisfactorily mitigate the risk of wildfire both to the subject property and those posed to neighboring properties in the surrounding area by the proposed development. In assessing the applicable wildfire risk and appropriate mitigation measures, the Director shall consider the referral comments of the County Wildfire Mitigation Coordinator and the applicable fire district, and may also consult accepted national standards as amended, such as the 2003 Urban-Wildland Interface Code; NFPA / 80A, 299, 1231; 2003 International Fire Code; and the 2003 International Building Code.
6. The proposed development shall not alter historic drainage patterns and/or flow rates or shall include acceptable mitigation measures to compensate for anticipated drainage impacts.
7. The development shall avoid significant natural ecosystems or environmental features, including but not necessarily limited to riparian corridors and wetland areas, plant communities, and wildlife habitat and migration corridors, as identified in the Comprehensive Plan or through the site plan review process. Development within or affecting such areas may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonably necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
8. The development shall avoid flash flood corridors, alluvial fans, floodplains, and unique geologic, geomorphic, paleontological, or pedologic features, as identified in the Comprehensive Plan or through the site plan review process. Development within or affecting such hazards may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonable necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
9. The development shall avoid agricultural lands of local, state or national significance as identified in the Comprehensive Plan or through the site plan review process. Development within or affecting such lands may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonably necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
10. The development shall avoid significant historic or archaeological resources as identified in the Comprehensive Plan or the Historic Sites Survey of Boulder County, or through the site plan review process. Development within or affecting such resources may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonably necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
11. The development shall not have a significant negative visual impact on the natural features or neighborhood character of surrounding area. Development shall avoid prominent, steeply sloped, or visually exposed portions of the property. Particular consideration shall be given to protecting views from public lands and rights-of-way, although impacts on views of or from private properties shall also be considered. Development within or affecting features or areas of visual significance may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonably necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
a. Development located within the Peak-to-Peak Scenic Corridor Area shall not have a significant negative visual impact on the scenic character of the scenic corridor. In reviewing development proposals in this Scenic Corridor Area, special attention will be paid to minimizing the view of the development from the Peak-to-Peak Highway. Mitigation of visual impact may include changing structure location, reducing or relocating windows and glazing to minimize visibility, reducing structure height, changing structure orientation, requiring exterior color and materials that blend into the natural environment, and/or lighting requirements to reduce visibility at night.
12. The development location of the development shall be compatible with the natural topography and natural vegetation and the development shall not cause unnecessary or excessive site disturbance. Such disturbance may include but is not limited to long driveways, over-sized parking areas, or severe alteration of a site's topography. Driveways or grading shall have a demonstrated associated principal use.
13. Runoff, erosion, and/or sedimentation from the development shall not have a significant adverse impact on the surrounding area.
14. The development shall avoid Natural Landmarks and Natural Areas as designated in the Goals, Policies & Maps Element of the Comprehensive Plan and shown on the Zoning District Maps of Boulder County. The protection of Natural Landmarks and Natural Areas shall also be extended to their associated buffer zones. Development within or affecting such Landmarks or Areas may be approved, subject to acceptable mitigation measures and in the discretion of the Director, only if no other sites on the subject property can be reasonably developed, or only if reasonably necessary to avoid significant adverse impacts based upon other applicable site plan review criteria.
15. Where an existing principal structure is proposed to be replaced by a new principal structure, construction or subsequent enlargement of the new structure shall not cause significantly greater impact (with regard to the standards set forth in this Section 4-806) than the original structure.
16. The proposal shall be consistent with the Comprehensive Plan, any applicable intergovernmental agreement affecting land use or development, and this Code.

Peak to Peak Corridor amendments

4-119 –Peak-to-Peak Scenic Corridor Area
Purpose
1. To preserve and protect the distinctive scenic values of the Peak-to-Peak Scenic Corridor enjoyed and valued by residents of and visitors to Boulder County.
2. To establish boundaries of the Scenic Corridor Area where additional Site Plan Review Standards will reduce conflicts between new residential construction, existing development, and the natural beauty and scenic vistas along this established corridor.
General Provisions
1. The Peak-to-Peak Scenic Corridor Area shall be subject to the provisions contained in the regulations in this Section 4-119 of the Land Use Code, including a map defining the Scenic Corridor Area boundaries.
2. Residential development in the Peak-to-Peak Scenic Corridor shall be subject to the specific standards for review included in Section 4-806, Site Plan Review Standards.

4-119A – Peak-to-Peak Scenic Corridor Area

A. Boundaries of the Peak-to-Peak Scenic Corridor Area
1. For purposes of applying the Site Plan Review Standards in Section 4-806, the boundaries of the Peak-to-Peak Scenic Corridor Area are as shown on the Peak-to-Peak Scenic Corridor Area Map.
B. Building and Structure Requirements
1. Development in the Peak-to-Peak Scenic Corridor Area must preserve the unique scenic qualities of the corridor. Site Plan Review approvals in this area will be subject to specific requirements to mitigate the visual impact of the development on the vistas and views from the Peak-to-Peak roadway.
2. Specific Site Plan Review standards for review of development proposals within the Peak-to-Peak Scenic Corridor are included in Section 4-806.A.11.a.

Clearing House

As part of the Expanded Transfer of Development Rights Program, the Board of County Commissioners authorizes the establishment of a County Clearinghouse to facilitate the administration of this program. For the first year of the program, a third-party Clearinghouse Administrator will manage the Clearinghouse. (The County put out a Request for Proposal for this work, and has entered into a contract with a third-party to act as the Clearinghouse Administrator.) It is expected that in this first year of operation, the Clearinghouse Administrator may assist in identifying any necessary changes to process or procedure needed to ensure the efficient operation of the Clearinghouse. After this initial one-year period, the Board of County Commissioners may decide to continue having a third-party administrator or may determine it is appropriate to locate the Clearinghouse within an existing County department.

The functions and duties of the Clearinghouse are outlined below; these functions and duties are broken into processing functions and administrative functions.

1. Program Processing Functions and Duties of the Clearinghouse

The primary functions associated with the processing of a County TDR Clearinghouse will be the following:

For the Sale of Development Credits to the County Clearinghouse:
Accept applications for the sale of Development Credits by property owners to the Clearinghouse; applications would include documentation from the Land Use Department as to the status of the property as a legal building lot(s) and documentation from the Transportation Department as to the legal access to the property
Send a referral to Parks and Open Space for review of applicant’s request for a determination of any Bonus Development Credits associated with the parcel
Notify property owners of the number of Rights or Credits associated with a particular property based on the regulations and any bonus determination
Coordinate with County to draft, review, execute and record required conservation easements, deed restrictions or other preservation instruments in exchange for the creation of Credits
Issue certificates memorializing the sale of Credits
Process purchase and sale agreement for Credits, and payment to the property owner for the sale
Assist, on a regular or on-going basis, determine a fair market value for which the Clearinghouse will pay for Development Credits

For the purchase of Development Credits from the County Clearinghouse
· Accept application to the Clearinghouse by an interested party to purchase Development Credits, including an approved Site Plan Review including a determination letter showing approval for a residential structure of a size greater than the size threshold.

· Coordinate appropriate documentation to memorialize the sale, including the issuance of development Credit Certificates to property owner, execution of a purchase agreement between the Clearinghouse and the purchaser, and registration of the sale of certificates
· Processing payment from Property Owner for the Credits Purchased
· Assist, on a regular or on-going basis, determine a fair market value for which the Clearinghouse will sell Development Credits

For the Repurchase of Development Credits from the Clearinghouse
· Application to Clearinghouse by Property Owner to repurchase a Development Credit for a parcel where a previous sale of Development Credits has been completed
· Coordinate appropriate documentation to memorialize the sale and increase in the allowed single family residential floor area for a particular parcel, including the issuance of Development Credit Certificates to the property owner, execution of a purchase agreement between the Clearinghouse and the purchaser, and registration of the sale of certificates, and recordation of an appropriate deed restriction with the Clerk and Recorder

For the processing of private market transactions for the sale or purchase of Development Credits
· If Credits have not been previously created, accept applications for the creation of Development Credits by property owners; Applications would include documentation from the Land Use Department as to the status of the property as a legal building lot(s) and documentation from the Transportation Department as to the legal access to the property
Send a referral to Parks and Open Space for review of applicant’s request for a determination of any bonus Credits associated with the parcel
Notify property owner of the number of Credits associated with a particular property based on the regulations and any bonus determination
Coordinate with County to draft, review, execute and record required conservation easements and deed restrictions in exchange for the creation of Credits
Issue certificates memorializing the sale of Credits
· Registration of purchases and sales through private transactions

2. Administrative Functions of the Clearinghouse

The primary administrative functions of the Clearinghouse will be the following:
· Keep appropriate records, including records of private market transactions and extinguished Rights and Credits used in County-approved development projects
· Make periodic reports of the Clearinghouse’s functions to the Board of County Commissioners

Definitions
Current Definitions, with amendments, included in Article 18 of the Land Use Code

18-100 Above Grade - Amended into and replaced by Article 18-162. See Article 18-162.

18-114 Basement – Amended into and replaced by Article 18-162. See Article 18-162.

18-162 – Floor Area – The area of a building or structure, existing or new, including basements and attached garages calculated without deduction for corridors, stairways, closets, the thickness of interior walls, columns, or other features as measured from the exterior face of the exterior walls. (For Residential Structures, see also Article 18-190.)

A. Above Grade Floor Area – Any Floor Area that is not Below Grade Floor Area.

Below Grade Floor Area – Any level of a building or structure where more than one half of the vertical distance between the floor and ceiling is below finished grade for more than 50% of the total perimeter of that building or structure.
1. Subterranean Basement – For the purposes of Site Plan Review and the presumptive size thresholds associated with the Expanded Transfer of Development Rights Program, a Subterranean Basement is Below Grade Floor Area which includes any lower level of a structure where the finished surface of the floor above is no more than two feet above either the existing or finished grade, whichever is more restrictive.

18-190 – Residential Floor Area – For the purposes of Site Plan Review and the presumptive size thresholds associated with the Expanded Transfer of Development Rights Program, Residential Floor Area includes all floor area (as defined in 18-162) on a parcel including principal and accessory structures used or customarily used for residential purposes.

2008-04-03T10:28:00.002-06:00

The county seems to want to charge full force with this wasteful uses of our tax dollars to make an ineffective change on global warming and carbon footprint.

Please go to this meeting to state that you oppose this uncreative regulation.

Attached please find the press release for the Board of County Commissioners’ Public Hearings on BuildSmart and the Expanded TDR Programs. The materials for these hearings are posted on the Boulder County Land Use Website at the locations noted below.

April 8 public meeting scheduled for Boulder County BuildSmart and the Expanded TDR program

The County Commissioners have scheduled a two-part public meeting on Tuesday, April 8, to take public testimony and consider final recommendations for the Boulder County BuildSmart Program and the expanded Transfer of Development Rights (TDR) program.

Date: Tuesday, April 8, 2008
Time: 5:00 p.m.
What: Board of County Commissioners Public Hearing on BuildSmart, followed immediately by a Board of County Commissioners Public Hearing on the Expanded TDR program
Where: 3rd Floor Hearing Room, Boulder County Courthouse, 1325 Pearl St., Boulder.

Boulder County BuildSmart

On January 8, the Board of County Commissioners approved the Boulder County BuildSmart program. On Tuesday, April 8, the Board will take public comment and consider the final adoption of amendments to the Boulder County Building Code to implement the Boulder County BuildSmart program. Boulder County BuildSmart is a set of building code regulations whose primary purpose is to regulate the energy efficiency of the design and construction of residential buildings in unincorporated Boulder County as well as to reduce residential construction waste, conserve residential water use, and insure proper indoor air quality within energy-efficient residential structures. See the County’s Land Use web site at www.BoulderCounty.org/lu (look under “What’s new in Boulder County Land Use” on the right side of the site for the BuildSmart materials) for a complete description of the program.

For questions regarding the Boulder County BuildSmart Building Code Amendments, please contact Jeff Dwight, Boulder County Building Official, at JDwight@bouldercounty.org or 720-564-

Expanded Transfer of Development Rights (TDR) program

On Tuesday, the Board of County Commissioners (BOCC) will consider a final round of draft proposals for an expanded TDR program. In March, Land Use staff compiled a set of revisions to the last round of draft proposals based on direction they received from the BOCC at two public study sessions on March 4 and March 10, and based on input from members of the public at a public hearing on March 6.

On April 8, the BOCC will take public comments and make final recommendations on the new revisions to the proposed expanded TDR program, including amendments to the Site Plan Review standards and the designation of the Peak-to-Peak Scenic Corridor Area. The expanded TDR program is intended to ensure a varied housing stock in unincorporated Boulder County by defining structure size thresholds, above which additional development rights must be obtained to offset the impacts of larger scale homes, and below which development rights may be sold to preserve smaller homes.

Materials for discussion at the April 8th meeting are available on the County’s Land Use Web site at: www.bouldercounty.org/lu (look under “What’s new in Boulder County Land Use” on the right side of the site for the Expanded TDR materials).

Economy vs McMansion

2008-04-03T10:24:00.002-06:00

People will need to decide if they want to slow down the economy by limiting homes sizes or
if they just get along with their neighbors and help create a healthy economy.

Economists caution limiting house sizes may limit Boulder
By Heath Urie (Contact)Thursday, April 3, 2008
Regulating house sizes in Boulder would have economic consequences ranging from potentially lower property-tax revenues to decreased demand for housing in an already-struggling market, economists said Wednesday.
The Boulder Planning Board will meet at 5 p.m. today to make recommendations to the City Council about what provisions an interim ordinance should contain to restrict the "floor-area ratio" of new houses or residential redevelopment.
The council has directed its staff to seek feedback from the Planning Board before it drafts an interim ordinance, which is scheduled for a first reading at the council's April 15 meeting.
City officials have said such an ordinance would address the increasing number of "pops and scrapes" in Boulder, possibly by limiting the floor-area ratio of those projects -- or the amount of finished square footage on all levels of the house.
Members of the City Council have heard complaints from people across Boulder upset when small homes are razed and replaced with many-thousand-square-foot homes.Economists say there is cause for everyone in the city to pay attention to the council's actions on the matter.
Byron Koste, executive director of the Real Estate Center at the University of Colorado's Leeds School of Business, said any city ordinance that limits variety of house size and choice could ultimately end up hurting the local economy.
"If the demand shrinks because people who want a bigger home no longer can come to a certain area ... that will decrease the competition and hurt the upside on the economic scale," Koste said. "The great cities of the world have chosen not to do this. I'm not sure why we are choosing to do this."
Gary Horvath, a research assistant at CU's Business Research Division, said property taxes could be affected by tightening building restrictions, but there is a potential upside, too.
"It could attract people to the area because they think the area is more responsible socially," Horvath said. "There are certain people who feel that would be an advantage and would want to live here."
Among the staff recommendations the Planning Board will consider today is to make an interim ordinance -- in whatever form the City Council decides -- effective beginning April 16. The staff also is recommending the ordinance remain in effect until at least March 2009, rather than the six-month time frame that was initially suggested, to allow more time for the city to draft permanent regulations.
The staff proposal also suggests that the council take one of two approaches to an interim ordinance: that it either enact a "simple" floor-area ratio limit by zone district, or a "sliding-scale" floor-area ratio limit based on lot size.
The first approach would set a maximum ratio and also would include a maximum square-footage limit and a minimum square-footage amount allowed, irrespective of lot size. The sliding-scale approach would set a ratio for a specified lot size, and the ratio would then increase as the lot size decreases.
An interim ordinance also would address the types of zoning districts affected, whether high ceilings, basements or garages are included in floor-area ratio calculations, a variance or appeals process and rules for grandfathering existing plans and structures.
Philip Shull, a member of the Planning Board since 2004, said he's looking forward to taking up the issue.
"I think there's a lot of interest in the discussion," Shull said. "I think it's the only real occasion we'll have to help shape the language."
Contact Camera Staff Writer Heath Urie at 303-473-1328 or urieh@dailycamera.com

Family Matters

2008-03-12T15:00:00.003-06:00

As a working mom I always get excited when I run across great sites to help me make my life easier and more organized with kids. So with this in mind, every time I run into one, I will try to place it on my blog. Here is a good one that I found when I was trying to find a fun new activity for a birthday party.

www.coloradokids.com

City of Boulder Looking to Limit House Size to 2500 Square Feet

2008-03-12T14:36:00.001-06:00

Council may scrap 'scrapes'
Boulder leaders consider limits on razing old houses to replace with larger ones
By Ryan Morgan (Contact)Tuesday, March 11, 2008

A few of Boulder's elected and appointed leaders will sit down Thursday night to ponder the best way to keep "mega" houses from being built on the remains of more modest ones.
The question of whether "pop-and-scrape" residential redevelopments should be limited is just one of several land-use issues the members of the City Council and Planning Board will discuss at Thursday's meeting, Mayor Shaun McGrath said.
McGrath said members of the City Council have heard lots of complaints from people across Boulder upset when small homes are razed and replaced with many-thousand-square-foot homes. One City Council member is even proposing a maximum size of 2,500 square feet for rebuilt homes, prompting debate among leaders.
"We've heard from a lot of people who have worried about how scrapesin particular are changing the character of neighborhoods," McGrath said. "I don't know what the end policy might look like, but we certainly want to have a conversation with the community."
Critics say big, new homes in older neighborhoods -- such as the Newlands in north-central Boulder -- are an environmentally destructive, aesthetic assault. They're particularly upset by new homes that spread from one end of a housing lot to the other, crowding their neighbors.
This isn't the first time members of the City Council have expressed an interest in possibly limiting residential redevelopment -- but Thursday's meeting could be the first step toward putting an ordinance in place.
Two years ago, City Councilwoman Crystal Gray tried to bring up the issue, but it didn't gather much momentum. That's changed, said Gray, who's now the city's deputy mayor.
"I just think that the pace of redevelopment has really picked up and spread to all areas of the city," she said, so an issue that only raised eyebrows in a few neighborhoods a few years ago now has broader resonance.
Many cities have enacted measures limiting house sizes, and Gray said Boulder has plenty of new regulatory options from which to choose. The City Council could tighten existing caps on "floor-area ratios" for homes -- that is, the percentage of a property that's covered with finished square footage.
They could examine more subtle and flexible "building envelope" limits, or even "character guidelines," which would be more labor-intensive to enforce.
Policy-makers often use the shorthand term "pops and scrapes" when talking about the issue. But both Gray and McGrath said they're more concerned with scrapes -- the practice of demolishing a home and replacing it with something much bigger -- than pops, which just expand the size of existing homes.
Any proposal is likely to be controversial. Susan Graf, president of the Boulder Chamber of Commerce, said people in the city's business and residential community are nervous.
"I would hope that the City Council and the Planning Board would clearly identify the problem they're trying to solve," she said. "They point to a few specific examples of big houses or ugly houses, and I don't know that that constitutes a problem. ... I'd be worried they're trying to hit a fly with a sledgehammer."
And elected leaders will likely disagree about the best way to go forward. City Councilman Ken Wilson delivered a rebuke Monday to a proposal from City Councilwoman Lisa Morzel on the City Council's "hot line," a public e-mail list officials use to communicate.
In a post to the e-mail list, Morzel wrote that she'd "strongly suggest our building size maximums start at 2,500 (square feet) for the main structure/house, allowing 450 (square feet) for garages."
To which Wilson replied, "I guess I will need to tear down a third of my home. I will not support regulations that limit my neighbors building something smaller than the home I live in, or a (floor-area ratio) less than mine -- which has been at its current size since the mid-1920s."
Wilson said he'd consider asking the city's staff to assemble a list of the sizes and floor-area ratios of City Council members' houses.
"I think it is only fair to see where our homes fall into this mix," he said.
That drew a reply from City Councilman Macon Cowles, who said the city has a duty to maintain the supply of affordable and reasonably sized housing, protect existing neighborhoods and address the environmental impacts of new construction.
"The council has a fiduciary obligation with respect to each of these three things, and the route forward cannot be determined by using the house sizes of individual people as a yardstick with which to measure an appropriate response for the city," he wrote.

Boulder County House Size Restrictions

2008-03-12T13:32:00.005-06:00

House-size proposals tweaked
By John Fryar Longmont Times-Call

BOULDER — Restrictions and conditions should be imposed on new rural Boulder County homes that would exceed county-set size thresholds, the Board of County Commissioners has tentatively decided.

Commissioners Ben Pearlman, Will Toor and Cindy Domenico unveiled their latest version of proposed structure-size regulations at a Monday evening study session.
Under the commissioners’ currently favored scenario, an applicant would have to buy development rights before being allowed to proceed with building a house and related structures totaling more than 3,000 square feet of above-ground floor area — regardless of whether that residence is to be located in the mountains or on the plains.
Subterranean basements of any size, whether finished or unfinished, would not count against that 3,000 square-foot total. But walk-in basements would.
The developer could have up to 500 square feet of detached or attached garage space — enough to house two vehicles, county officials said — that also would be exempt from the 3,000 square-foot threshold. But any additional garage space would count against the limit.
The project could include up to 500 feet of detached storage sheds and other outbuildings that wouldn’t count against the 3,000 square-foot calculation. But any additional outbuildings would be factored into the floor-area totals.
By not counting below-grade basements, 500 square feet of garage space and 500 square feet of outbuildings, the resulting overall project could actually wind up being several thousand square feet larger than the 3,000 square-foot threshold, Pearlman said.
“We are talking about very large houses” that still could be built, Pearlman said — if the applications pass other county tests, such as clearer site-plan review criteria about whether the project would be compatible with other homes in its county-defined neighborhood.
Under the latest proposal, “you really do have to be building a giant structure before it affects you,” Pearlman said. The development rights that a large-house applicant would have to buy in order to exceed the 3,000 square-foot threshold would be made available when owners of property elsewhere in Boulder County sell building rights after deciding not to develop their own land to its full county-set potential. That, county commissioners said, should help preserve open areas and maintain a mixture of small, medium-size and larger houses in unincorporated Boulder County.

On Feb. 20, the Boulder County Planning Commission recommended against proceeding with the structure-size thresholds and development-rights transfer program under consideration at that point. Pearlman noted on Monday, however, that the planning advisory panel also endorsed the general concept of using such a program to offset the impacts of large-scale houses.
Commissioners directed Monday that the county staff prepare another draft of the program, based on the commissioners’ study-session positions — a revised draft that may be ready for further consideration and possible board action as early as next Tuesday.
The earlier version of the proposed program drew more than 60 speakers to a three-hour-long public hearing last Thursday night.

When Pearlman was asked after Monday’s study session whether there would be another hearing on the revisions the commissioners have ordered before they take final action, he said, “I don’t know that we need another public hearing.” Commissioner Will Toor suggested that before scheduling any more hearings, he and his colleagues first have to see how substantively their study-session directives changed the draft program published before last week.
During Monday’s study session, Commissioner Cindy Domenico said there will be many chances in the months and years ahead to modify the house-size and development-rights transfer program, if that proves necessary. “There’s always an opportunity to fine-tune a program as you move forward into the future,” Domenico said.

Commissioners said they’ve decided to drop a proposal to designate such unincorporated communities as Allenspark, Raymond, Riverside and Hygiene as “special character areas.” Instead, the county will work with residents and property owners on possible plans and guidelines for future development in those communities.

John Fryar can be reached at 303-684-5211 or jfryar@times-call.com.

2965 Moorhead

2008-03-05T14:06:00.001-07:00

2965 Moorhead

LOWEST PRICED HOME IN CITY OF BOULDER! This Highland Park home has been tastefully updated: remodeled kitchen & bath.oak cabinets, granite tile counters, 2-tone paint, vinyl replacement windows, & 6 panel colonist doors. Third bdrm. with outside entrance. Great for student rental property. Close to CU & public transportation.

8500 Sugar Loaf Rd

2008-03-05T13:56:00.006-07:00

Pristine Mountain Property! Build your dream home on 9+ acres of privacy! Surrounded by
forest service land. 360 degree views of Back Range, Peewink, Comforter & Sugar Loaf mountains & plains! Only 30 minutes to Boulder. Rock Outcroppings, Ponderosa Pines, Douglas Fir & Native Grass Meadows on slopping terrain. Complete Privacy...

Own 9.12 acres - feels like 9,000! Unrecorded physical access via open forest service road.

900 Cleveland Ct. Louisville

2008-03-05T13:50:00.004-07:00

Beautifully updated Four level contemporary home on a quiet cul-de-sac*** Open floor plan with an eat-in kitchen, Brazilian Cherry Hardwood floors, Granite Counter Tops in Kitchen, Master bath and Hall bath***Stainless steele Dishwasher!! Double Sink in the Master Separate dining room, family room and lower level rec room, bedroom & study/office. Close to Downtown Louisville, Memorial Pool, Louisville Rec Center** Backs to green belt from fenced yard.

2880 Sundown #308

2008-03-05T13:41:00.006-07:00

Gold Run Condo. This quiet and spacious top floor unit with vaulted ceilings, is just minutes away from CU. The property is popular not only for students but also for those individuals that love the proximity to all the wonderful experiences that Boulder has to offer. The Boulder Bike path and Boulder Creek offer visually pleasing areas and with 29th St. A car is not necessary to enjoy fine dining and shopping. The rare and fabulous club house includes racquetball, tennis, volleyball, indoor pool, indoor and outdoor hot tub, exercise equipment & so much more!! This is a lifestyle of education, fitness and beauty that can not be replicated anywhere else!

Boulder City Council Member on County TDR Program

2008-03-05T12:19:00.000-07:00

I normally do not agree with Steve on many things but on this we are in complete agreement!

Pomerance: Expanded Transfer of Development Rights -- the wrong approach
Steve PomeranceSunday, March 2, 2008
When the Boulder County commissioners meet this week, they should abandon the ill-conceived Expanded Transfer of Development Rights proposal. The program has fundamental flaws that are not amenable to correction, would accomplish little to benefit the citizens of the county, and potentially could put the county at risk from "takings" and TABOR lawsuits.
The proposed ETDR scheme envisions setting "thresholds" for the square footage of development on a parcel, with the thresholds being lower in the mountains and higher in the plains. In general terms, and ignoring many of the details, if a property owner wants to build more than the threshold allows, he or she would have to purchase the requisite amount of square footage of "development credits" from another property owner at market price. The seller's development potential would then be restricted by an equivalent amount below their threshold.
This action in effect transfers development potential between the property owners. It also reduces the average floor area of new development, since one development's going above the threshold requires another to be below. Unfortunately, as the county Planning Commission noted, the thresholds are inevitably somewhat arbitrary.
The ETDR approach does not appear to distinguish areas the county would like to protect from areas where the commissioners have less concern. In other words, an owner in an area where the county wants less development could purchase development credits, leading to more, not less, development in those areas.
A technical difficulty with ETDR is that some properties can never be developed up to their thresholds because of the stringent nature of the Site Plan Review process. So it appears that these owners could sell credits for development that would, in fact, not be permitted under the county's review process. Thus they would be the prime sellers of development credits -- their prices would be lowest because they are giving up the least. This would remove most of the disincentive for building larger homes.
On the other hand, some property owners do not have significant Site Plan Review constraints. If such an owner sells credits, he or she can sell only the amount of square footage below their ETDR threshold. But in the process, they also apparently lose what they might have been able to build above their threshold. However, a similarly situated purchaser only needs to buy what is needed to go above their threshold. Thus the cost of these credits will be prohibitive, because the seller is giving up far more than the buyer is getting.
In Nollan vs. California Coastal Commission, the U.S. Supreme Court determined that exactions from property owners need to have an essential nexus with the action being permitted. In layman's terms, the fix being exacted must be tied to the problem being created. But there is no real connection between, for example, the impact from building an overly large house near Niwot and the benefit from buying down development rights on properties near Ward or Raymond.
Some people will claim that the commissioners are, in effect, taxing people who build big houses to pay for a county effort to buy out development rights. This would then arguably be a county excise tax imposed without a TABOR vote, which would make it illegal on two counts. And further legal issues might be raised about the arbitrary thresholds.
The commissioners have better alternatives: They could impose a Floor Area Ratio requirement that would limit houses to, say, 3500 square feet, with each extra 100 square feet requiring the lot to be one additional acre over 35 acres. They could also set visual standards, increase set-back requirements, and so on.
In politics, many times an ill-defined problem and a "good idea" solution get so stuck together that alternatives are never examined. The commissioners have done some very good work recently on building codes and on making the whole development process more "green." They need to bring a similar level of reality-check to this process.
Steve Pomerance is a former Boulder city council member and can be reached at stevepomerance@yahoo.com

Transeral Development Rights Study Session Boulder County

2008-03-05T11:46:00.000-07:00

Only two more hearings and then I am sure that the County Commissioners are going to pass this regulation!

Subject: Board of County Commissioners meetings on TDRs N Boulder County Board of County Commissioners Study Sessions and Public Hearing Expanded Transfer of Development Rights Program including Structure Size Thresholds - Docket DC-05-002H Thursday, March 6, and Monday, March 10, 2008 Third Floor Hearing Room, Boulder County Courthouse 1325 Pearl Street, Boulder Tuesday, March 4, 2008 at 4:00 PM The Boulder Board of County Commissioners will be holding a study session on the proposed Expanded Transfer of Development Rights (TDR) Program on Tuesday, March 4, 2008 at 4:00 PM. The hearing will be held in the Third Floor Hearing Room at the Boulder County Courthouse, 1325 Pearl Street. The purpose of this study session is for staff to present the Planning Commission recommendations on the proposed TDR program to the Board of County Commissioners. The Board will not be taking any public testimony or any action on this program at this March 4th study session; however the public is invited to attend. Thursday, March 6, 2008 at 5:30 PM The Boulder Board of County Commissioners will be holding a public hearing on the proposed TDR Program on March 6, 2008 at 5:30 PM. The hearing will be held in the Third Floor Hearing Room at the Boulder County Courthouse, 1325 Pearl Street. The purpose of this hearing is to take public comment on the proposed TDR program including the draft TDR regulations, proposed amendments to the Site Plan Review Standards, interim regulations for the designated Special Character Areas, amendments to the Definitions included in the Land Use Code, and the authorization for a County-run TDR Clearinghouse. Public testimony will be limited to three minutes per person. Written comments for this public hearing may be submitted. Please e-mail comments to Michelle Krezek at mkrezek@bouldercounty.org. The Board of County Commissioners will not be taking any action at this March 6th hearing. Monday, March 10, 2008 at 5:00 PM A study session for the Board of County Commissioners to discuss the public comments given on March 6th and to give direction to staff regarding changes to the proposed TDR program will be held on Monday, March 10, 2008 beginning at 5:00 PM at the Boulder County Courthouse. This study session will be open to the public, but no public testimony will be taken on March 10th. Materials for these meetings are available on the Boulder County Land Use Department website at <http://www.bouldercounty.org/lu/code_updates/expanded_tdr/index.htm%3E . The same materials will be used for the March 4th and March 6th meetings. These study sessions and public hearings will be web cast. To view the web cast, please go to <http://www.bouldercounty.org/stream/index.htm%3E . If you have additional questions, please contact Michelle Krezek at 720-564-2623 or mkrezek@bouldercounty.org

Boulder TDR House Size Limitations

2008-03-05T09:57:00.000-07:00

It appears that Boulder's County Commissioners are set on taking peoples private property rights through the TDR Program. I feel sorry for those people who have not added on to their homes yet or who have vacant land properties!

Boulder County's house-size battle nears an end
Opponents worry their voices will be ignored
By Laura Snider (Contact)Tuesday, March 4, 2008
If you go
What: County commissioners review the "expanded transfer of development rights," or TDR, program. The measures seek to offset the effects of large house sizes in unincorporated Boulder County.
When: At 4 p.m. today, the commissioners will have a study session to review the proposals. The meeting is open to the public, but no public testimony will be taken.
At 5:30 p.m. Thursday, the commissioners will listen to public testimony on the program.
At 5 p.m. Monday, the commissioners will have another study session when they will likely give direction to the staff on what the final program will look like.
Where: All meetings will be on the third floor of the Boulder County Courthouse, 1325 Pearl St.
For more information: Visit www.bouldercounty.org/lu or call Michelle Krezek at 720-564-2623.
Katrina Peterson doesn't think Boulder County should limit house sizes. She's said it at public meetings, she's written it in letters and she's called the land use department to express her concerns.
And even with a landslide of public opinion on her side -- or at least the vast majority of people who show up at public meetings on her side -- she's worried her voice isn't being heard.
Starting today, the county commissioners will hold three public meetings to discuss the county's controversial proposal to limit house sizes in unincorporated Boulder County. On Monday, it's likely the commissioners will decide on the final form of the regulations.
"I won't be surprised if they put it in place," said Peterson, who owns a house in the mountains and worries her property value will be damaged by the program. "It'll be pretty discouraging."
For many county residents doggedly following the house-size debate, the issue has laid bare a much more basic question than whether house sizes should be restricted. It has people pondering how elected officials should go about determining what their constituents really want.
"It's pretty hard to understand when (Commissioner Will Toor) says there's a lot of people out there who support it -- how do they know? How do they know when they don't show up?" Peterson said. "The staff and the county commissioners say there is a silent majority out there, and we're going to interpret that to mean they're OK with it."
More than 100 people wrote letters or e-mails to the land use department opposing at least some part of the program, compared with fewer than 40 supporting it.
And the county's Planning Commission, which is charged with advising the county commissioners on land-use issues, announced last month that it doesn't recommend house-size limits in the form of the "transfer of development rights" program, which would allow developers to build houses above set limits if they buy extra development rights.

Even so, there is evidence that county residents do support some form of house-size limits, and Toor says it's his responsibility to make a decision that's best for the entire community — now and in the future.
Toor points to a 2006 survey of Boulder County registered voters in which people were asked "whether respondents agree or disagree that if a house would be larger than, say, 4,000 or 5,000 square feet the county should require mitigation to the land such as buying open land and leaving it open ..." Seventy-three percent of people agreed.
"Having spent years in public office on the City Council and now on the county commission, I've learned the people who show up to testify on particular issues are not a representative sample of the population at large," Toor said. "We need to listen and understand those concerns, but I think there is a much broader public interest out there."
Contact Camera Staff Writer Laura Snider at 303-473-1327 or sniderl@dailycamera.com.
THE NUTS AND BOLTS OF HOUSE-SIZE LIMITS
The proposal that the county commissioners will review in the next week can be broken down into three pieces:
Expanded transfer of development rights
This is the part of the program that would set thresholds for house sizes. Most recently, the Planning Commission decided not to recommend such a program. However, the county commissioners still have the power to pass the program.
The last numbers used by the Planning Commission set a limit of 5,500 square feet for houses built in the plains and 3,500 square feet for houses built in the mountains. If a developer wants to build a larger house, he or she would need to buy extra development rights from owners of land that has not been developed or smaller houses that have not used all the square footage allowed.
Site-plan review
Now, anyone who wants to build a house in unincorporated Boulder County must go through a stringent site-plan review process to determine if the planned house would be in "harmony" with its neighborhood. The proposed amendments to the review would clarify what defines a neighborhood and create a clearer rule of thumb for what size house can expect to clear the review.
The Planning Commission recommended that the default "neighborhood" be set to 1,500 feet in all directions and the default house size be set to 125 percent of the median size of homes in that neighborhood. The definition of neighborhood or the size allowed could change with negotiation.
Special character areas
This designation would exempt unincorporated communities from the program, including Eldora, Eldorado Springs, Hygiene, Gold Hill, Allenspark, Raymond and Riverside. The program would also create a Peak-to-Peak scenic corridor. In all these designated areas, residents would work with the land use department to create codes that fit their individual communities and that would preserve the unique character of the area.

Adverse Possession in Colorado

2008-03-05T09:48:00.000-07:00

Adverse possession bill set for Senate committee
By Heath Urie (Contact)Originally published 03:43 p.m., March 4, 2008Updated 08:00 p.m., March 4, 2008

A bill that seeks to change a controversial land law that has locked two Boulder couples in a bitter legal dispute for years is set to be heard next week by the Colorado Senate.
House Bill 1148, which would overhaul the law of adverse possession, is scheduled to be heard by the Senate Judiciary Committee at 1:30 p.m. March 12. The hearing, originally set for March 5, has been delayed.
The state law now allows trespassers to claim land after using it openly and continuously for at least 18 years.
The law caught the attention of several lawmakers last fall after a Boulder District Court judge awarded a portion of one of Don and Susie Kirlin’s vacant lots on Hardscrabble Drive to neighbors Dick McLean and Edith Stevens.
McLean, a former district court judge and Boulder mayor, and Stevens, an attorney and Democratic activist, sued the Kirlins using the law of adverse possession.
The bill, which would add a “good faith” provision and other requirements to the longtime legal doctrine, gained initial approval last month by a House vote of 63-1.
If approved Wednesday, the bill will move to the full Senate for consideration and would require final approval by Gov. Bill Ritter.

Adverse possession bill set for Senate committee
By Heath Urie (Contact)Originally published 03:43 p.m., March 4, 2008Updated 08:00 p.m., March 4, 2008
VIDEO: Nov. 18 protest picnic in support of the Kirlins. WATCH »
VIDEO: Take a look at Don and Susie Kirlin's land and hear them speak about the case. WATCH »
MAP: Satellite image Google map of Hardscrabble Drive.
AUDIO: Listen to NPR's report on the case.
AUDIO: Local singer Don Wrege composed several songs about the land dispute.
1. Stealing Land From Our Neighbor
2. This Land Belongs to Don & Susie
3. Edie & Dick (The Grinch Theme)

TDR- Transferable Development Rights Regulation

2008-02-28T22:14:00.000-07:00

Please make your voice heard as this could greatly affect your private property values. The question is where will the regulations stop if this type of regulations is allowed.

NEWS RELEASE: Public meetings scheduled to consider final proposals for an expanded TDR program
Date: Thu, 28 Feb 2008 13:25:02 -0700
From: Halpin, Barbara bhalpin@bouldercounty.org
To: BCPRESSRELEASE@bouldercounty.org FOR IMMEDIATE RELEASE:
February 28, 2008
Contact: Michelle Krezek, Boulder County Land Use, 720-564-2623 or Barb Halpin, Public Information Officer, 303-441-1622

*Public meetings scheduled to consider final proposals for an expanded TDR program* *

Board of County Commissioners to consider recent Planning Commission recommendations and to take public testimony on a Transfer of Development Rights/Structure-Size Program for unincorporated Boulder County /**//* (Boulder County, Colo.) -

The County Commissioners have scheduled a series of meetings in March to consider recent Planning Commission recommendations and to take public testimony on an expanded Transfer of Development Rights (TDR) program for Boulder County. On February 20, the Planning Commission made final recommendations on the proposed TDR program, including amendments to the Site Plan Review standards and the designation of Special Character Areas and Scenic Corridor Areas. The Board of County Commissioners will be considering the Planning Commission's recommendations, taking public input and providing direction to county staff for drafting final program amendments at the following public meetings:

*Date: *Tues., March 4, 2008 *Time: *4:00 p.m. *What:* * *Board of County Commissioners *Study Session* on the Expanded TDR program *Description:* Boulder County Land Use staff will review the Planning Commission's recommendations with the Board of County Commissioners. No public testimony will be taken, but the public is invited to attend.

*Date: *Tues., March 6, 2008 *Time: *5:30 p.m. *What:* Board of County Commissioners *Public Hearing* on the Expanded TDR program *Description:* The Board of County Commissioners will take public testimony on the proposed expanded TDR program. The public is invited to attend and provide comment.

*Date:* * *Mon., March 10, 2008 *Time:* * *5:00 p.m. *What: *Board of County Commissioners *Study Session* on the Expanded TDR Program. *Description: *This study session will be for the Board of County Commissioners to give Boulder County Land Use staff direction on amendments to the proposed TDR program. No public testimony will be taken, but the public is invited to attend. Note: All meetings will be held in the 3rd Floor Hearing Room, Boulder County Courthouse, 1325 Pearl Street, Boulder. A *set of materials* <http://www.co.boulder.co.us/lu/code_updates/expanded_tdr/index.htm%3E for discussion at the upcoming meetings is available on the County's Land Use Web site at: *www.bouldercounty.org/lu <http://www.bouldercounty.org/lu%3E*. For more information, contact Michelle Krezek at 720-564-2623. * * -###- *Barb Halpin x 1622 **Public Information Officer *Boulder County Board of County Commissioners 303-441-1622 - Office 303-441-4525 - Fax

1360 Walnut #303 Boulder One Plaza

2008-02-26T14:36:00.004-07:00

Boulder One Plaza Loft!! Exclusive and very rare Landmark Development! With views of the Foothills & Downtown Boulder from the panoramic ceiling to floor store front windows, exposed brick, bamboo floors, stainless appliances, balcony. Contemporary yet elegant finish work in this true industrial-style loft with open 12.5 ft ceilings and exposed ductwork, designer lighting, Zodiac counters, stainless sinks and seamless entry shower stalls! Incredible downtown location! Corner of 14th & Walnut.! Includes an elevator & concierge service that will help you with personal things such as picking up your dry cleaning, walking your dog and alerting you to social events or special discounts with local venues! Walk to work, workout, get dressed, get dinner then listen to live bands w/o getting into your car!!! It's a lifestyle!! Eco-friendly! Visit my Boulder real estate website

5 SIMPLE ENERGY-EFFICIENT TIPS TO GET YOU THROUGH THE CHILLY HOLIDAYS

2007-12-17T11:39:00.000-07:00

1. Save gas by bundling your errands! Make a list and plan your trips. Head towards where you need to go and purchase as many products as possible the first time - instead of going back and forth to the store and wasting the gas because you forgot one thing.

2. To maximize holiday energy savings, use timers to limit light displays to the hours you want. These timers are readily available and also save you the hassle of running around at dusk plugging in or turning on lights.

3. Use LED lights, which look the same as traditional incandescent bulbs, last longer, use about 85 percent less energy and stay cool to the touch, which is safer for those families with curious younger children. The lights are fairly inexpensive in the long run - a strand of 60 Philips LED dome string multi-color twinkle lights uses up to 88 percent less energy and lasts up to 20 times longer than standard bulbs.

4. Americans generate millions of additional trash over the holidays that requires additional energy to process. Try to be creative about wrapping presents-use linens or other reusable items instead. If you need wrapping paper, be sure to use recycled. Rather than using new tissue paper to wrap ornaments and things you don't want to break, reuse the bubble wrap and wrapping paper that your family's gifts arrived in.

5. Cut your heating bills and stay warmer by sealing air leaks. Make sure your fireplace damper is closed, or better yet, install an inflatable chimney balloon that seals off leaks. Check to ensure your windows are all sealed tight. Mount storm windows. Weatherstrip doors and the attic access hatch.

What is the difference between Built Green® Colorado and ENERGY STAR®?

2007-12-12T15:58:00.000-07:00

Built Green Colorado, is a voluntary industry-led program created through the joint efforts of the HBA of Metro Denver, The Governor’s office of Energy Management and Conservation, Xcel Energy, and E-Star Colorado. While Energy Star and Built Green have the same energy efficiency minimum requirement – 15% above IECC 2006 – Built Green is a “green building” program, not just an energy efficiency program. The Built Green Checklist provides builders a flexible approach to building homes that provide greater energy efficiency and comfort, have improved indoor air quality, save water, preserve natural resources, and have improved durability and reduced maintenance needs. Homes are verified for compliance on a random basis by third-party verifiers.

Energy Star is a voluntary government-backed program that focuses on improved energy efficiency. New homes earn the Energy Star designation by meeting energy efficiency guidelines outlined by the U.S. EPA. The guidelines are set to exceed the IECC 2006 by 15%. Energy Star’s primary focus is on energy efficiency. Homes must be verified for compliance by third-party verifiers.

Energy Star and Built Green are compatible programs; participation in one does not exclude participation in the other. A builder can fulfill the 2007 Built Green Checklist Energy Requirement by meeting the requirements of Energy Star, and then make selections from the Checklist to address the additional components relative to IAQ, water and resource conservation, durability and reduced maintenance. Both Built Green and Energy Star use the same third-party verifiers to conduct inspections, including an insulation inspection, and blower door and duct pressurization tests. Built Green home inspections also include documentation and/or visual inspection to verify compliance with the Built Green Checklist. Please see the “List of Approved Raters” at: http://builtgreen.org/directory/raters.aspx, to select a HERS rater to complete these inspections.

Food & Clothing Drives

2007-11-19T13:27:00.000-07:00

Nearly 10% of Colorado’s population lives in poverty. Many of these people do not have enough nutritious food to eat, and often they don’t have access to adequate clothing. You can ease their struggle by making a donation at any of the following locations across the state.

Boulder and Broomfield Counties: Let’s Bag Hunger Food Drive. From November 11-21, drop your food donations off at participating local grocery stores or at the Community Food Share site: 6363 Horizon Lane, Longmont. Call 303.652.3663 or visit http://www.communityfoodshare.org/ for more information.

Colorado Springs: Care and Share Food Bank. Donate food anytime of the year to the Care and Share warehouse located at 2520 Aviation Way, Suite 130, Colorado Springs. Hours are 8 a.m. - 5 p.m., Monday - Friday and from 9 a.m. - 3 p.m. on Saturdays. You can also drop off your donation at local Police Department Substations. For more information call 719.528.1247 or visit http://www.careandshare.org/.

Denver: Food Bank of the Rockies. Donations are accepted at 10700 E. 45th Ave. anytime between 9 a.m. – 3:30 p.m. Monday through Friday. For more information regarding volunteering or donations call 303.371.9250 or visit http://www.foodbankrockies.org/.

Denver and additional locations across Colorado: 9 Cares, Colorado Shares. Until November 9th at 4 p.m., help thousands of Coloradans by dropping off your canned food and clothing donations to any First American Heritage Title Company in the state and other participating sites. Visit http://www.9news.com/ and click on the “community” link for more information and other participating businesses. And visit http://www.fahtco.com/ for a list of First American Heritage office locations.

Denver: Coats for Colorado. Drop off used coats at any Dependable Cleaners location in the Denver metro area until November 30th. For more information and drop-off locations, visit http://www.coatsforcolorado.org/.

Metro Area: Share the Warmth. Denver Mattress and CW2 News have joined efforts in keeping Colorado warm this winter. Now through November 12th, drop off coats to any Denver Mattress location and receive a discount coupon to Denver Mattress. Coats benefit Energy Outreach Colorado and are distributed to local charities. For more information and a list of Denver Mattress locations go to http://cw2.trb.com/ and click on the ‘Share the Warmth’ logo on the right side of the page.

Fort Collins and Loveland: Food Share Pantries. Help provide for single parents, elderly and individuals in crisis this season by donating to the Food Share Pantry and the Food Bank for Larimer County. Drop off donations Tuesdays through Saturdays from 9 a.m. – 2 p.m. at 245 S. Madison Ave. in Loveland and at 1301 Blue Spruce in Fort Collins. For more information visit http://www.foodbanklarimer.org/.

Grand Junction: Food Bank of the Rockies (FBR). Help FBR provide food supplies to over 970 hunger relief programs across Colorado and Wyoming. Drop off donations Monday, Wednesday and Thursday - 8 a.m. to 1 p.m., Tuesday - 2 p.m. to 4 p.m. and Friday - 8 a.m. to 12 noon. For more information on donations or on setting up your own food drive, contact Starlene Collins at 970.243.3937 or scollins@foodbankrockies.org.

Eagle County: Vail Police Department: Make a Difference Day. On October 27th drop off your food and/or clothing donations to the Vail Police Department parking lot from 10 a.m. – 2 p.m. Other drop off locations include grocery stores in Eagle, Edwards, Vail, Avon and Gypsum as well as many schools throughout Eagle County. For more information call 970.376.6952.

Boulder Market has Home-buying and Investment Opportunities

2007-11-07T12:10:00.000-07:00

The national real estate market has received a fair amount of negative attention lately. Consequently, it is understandable that Boulder County property owners are wondering how all of this negativity affects our local market. Buyers are reportedly taking their time to decide and are in no hurry to make purchases, while some sellers are generally out of touch with what is going on in this market. Although the national real estate market has been negatively impacted, Boulder is unique and doesn’t fit the traditional mold of a city or of other real estate markets across the country.Although Boulder is seeing the effects of a market slowdown, agents at RE/MAX of Boulder believe now is the time to buy.

Fewer people are looking to buy homes than in the past, but more sellers in the market means buyers have a better inventory of homes from which to choose. As a result, prices have softened and sellers have even dropped the price of their homes to sell them. In some cases homes can sit on the market for six to nine months, especially higher-priced homes. Agents are recommending sellers pay to stage their homes, as experience has shown that homes that “shine” and are priced competitively will sell faster.Although the market is not as strong as in years past right now, some positive signs show an upward trend may be on the horizon. Statistics from IRES LLC show that prices have softened, but Boulder real estate has continued to appreciate over the last two years while surrounding areas have suffered. There is a growing trend of people transferring here for new jobs, which means more buyers in the marketplace. Sellers are taking homes off the market and renting them out to take advantage of a strong rental market. With homes coming off the market, the amount of inventory will start to decline. All of these factors demonstrate why our market is unique and emphasize the point – even though the press has been reporting that nationally values will continue to drop, our market will hold its own.Under these market conditions RE/MAX agents see opportunities for both buyers and investors alike.

The rental market is strong; there are quality tenants and rising rental rates. Thus smart investors are buying income properties while the market is slow and it is still difficult for buyers to get financing. Some agents predict buyers will find good deals through the first of January and the market will make a comeback in 2008 for a stronger year. Remember, they advise, Boulder remains a desirable place to live and an excellent place to own real estate. With its proximity to the mountains, temperate climate, high quality of life, abundant open space and limited future development potential, Boulder County will always have a greater demand than supply for homes. Therefore the values should continue to rise in the long term.

South Boulder Creek Flood Mapping Study

2007-10-24T14:42:00.000-06:00

The City of Boulder has recently finished a study on the flooding potential along the South Boulder Creek area. The Federal Emergency Management Agency (FEMA) had rejected an earlier study concluding that it was too conservative. This latest study predicts that approximately 1,137 structures would be underwater during a 100-year flood.

How does this affect Boulder homeowners? Well, if you house is in the newly described 100-year flood plain you will likely be required by your mortgage holder to obtain flood insurance. Those who have federally subsidized mortgages will probably be required to purchase FEMA insurance which costs an average of $12,00 annually. Future building in the flood plain could be restricted as well. Even though it could take up to a year for FEMA to formally adopt the new study, the City of Boulder will begin enforcing land use and building code requirement soon. It could alter your plans for an addition or a home sale!

To find out more information or to see if your home falls in the projected flood plain, visit http://www.southbouldercreek.com/. We advise you to talk to your insurance agent now, as obtaining flood insurance before the formal adoption of the study by FEMA may save you a substantial amount on insurance premiums!

ENERGY AWARENESS CHALLENGE!

2007-10-17T10:27:00.000-06:00

Put yourself on the map!

Take the October Energy Awareness Challenge!

Pledge online today to lower your carbon footprint and reduce your energy use. Your name will be added to a growing online list of committed Boulder County residents and businesses, and a green pin to visually represent your location will be placed on the ClimateSmart map.

The October Energy Awareness Challenge is a ClimateSmart initiative with a goal of adding 1,000 names to the Who’s In list during October, National Energy Awareness Month. Take the pledge and tell your Boulder County friends and colleagues! beclimatesmart.com/pledgeNow

Burglar Proof Inside Your Home

2007-10-08T14:22:00.000-06:00

There's a burglary every 15 seconds in the United States - and more than 6 Million home break-ins every year. The good news: Your house doesn't have to be one of them. There's plenty you can do, experts say, to make it tougher for housebreakers to make off with your hard-earned, perhaps irreplaceable stuff.

A few smart moves within the house can keep a burglar out - or at least minimize his haul.

Put lights and a radio or TV on timers. People who leave the lights on all day "might as well put out a sign in their front yard saying they're out of town" says Ann Lindstrom of ADT Security Services, the nation's oldest alarm-system company. Look for the type of timer that can be set for random on and off times. Otherwise, it's too easy for crooks to get wise to the fact that your lights are coming on at the same time every night.

Don't rely on your dog. You'd like to believe that your "vicious" golden retriever will scare off burglars. And though barking may persuade them to skip your house, you shouldn't count on it. "Most of us train dogs to be friendly to strangers", says Frank Santamorena, an expert for the Discovery Channel's burglary-prevention show, It Takes A Thief. Some thieves even bring dog biscuits.

Close most shades. If a thief can't see inside, he won't know whether there's anything worth stealing, says Lauren Russ, executive director of the nonprofit Burglary Prevention Council (BPC). But keep a few shades open on the second floor to make it look as if someone is home.

Lock up valuables. It may sound obvious, but thieves know we all like to hide our most important things under the bed, in a coffee tin, or behind a bookcase. So keep passports, Social Security cards, and the like in a bank safe-deposit box or in a heavy-duty combination safe you can bolt to the floor in a closet.

Keep two jewelry boxes. Store inexpensive pieces in the nice case on your dresser. Stash the good bits in a safe. A thief may be fooled by the "cheap box" and not bother looking for more.

Lock away guns. Weapons are attractive to thieves, so if you have them in your house, hide them in a safe, just as you would conceal other valuables.

Make your stuff harder to sell. Use an engraving pen (sold in hardware stores) to mark big-ticket items, like electronics and computers. Prominently engrave your initials and driver's license number (not your social security number) on the back. Since many pawnshops don't accept ID engraved items or are required by law to report them to the police, burglars may pass on them. At the very least, you'll have a better change of recovering them.

Get an alarm system. A recent survey by Temple University researchers found that alarms, when used in combination with other precautions, reduce the likelihood of burglary be as much as 66%. All monitored electronic-security systems operate through phone lines. The more recent types have backup service that uses cellular technology or digital radio, so if the line is cut or the power goes out, you're still protected. This can add a few hundred dollars to the bill, but experts say it's a must. Expect to pay at least $350 for installation and around $35 a month in monitoring fees.

City and County Green Building Codes

2007-10-03T13:27:00.000-06:00

GET INVOLVED!

THIS WILL AFFECT YOU WHETHER YOU ARE A BUYER OR SELLER!

The city and county green building programs are moving forward and your participation in the public process is welcome!

City of Boulder - Green Points (Office of Environmental Affairs): Elizabeth Vasatka VasatkaE@bouldercolorado.gov (email her to be on a listserv of updates)
Hearings: (at City Council Chambers, 1777 Broadway)Planning Board: October 4th,
(agenda item C-around 8 pm)
City Council (first hearing): October 16th
City Council (second hearing): November 13th Boulder County - Build Smart: Michelle Krezek mkrezek@co.boulder.co.us (email her to be on a listserv of updates)
Hearings: Board of Review: October 25th, 3:30 pm Drafts and further hearing dates will be posted on http://www.co.boulder.co.uslu/

The city's update to the current Green Points program is building on the evolution of a 10 year old green building program. Revisions include mandatory measures for energy performance for new construction, deconstruction and construction waste requirements, and mandatory measures for remodels and additions. The goal is to have a comprehensive program that includes indoor air quality and sustainable resource management. The city's program set an energy threshold of 50% above code across the housing sizes, but will be asking Planning Board for its feedback on scaling energy efficiency by house size.

The county's program is starting with energy efficiency, waste and water measures that are mandatory. We're thrilled to have the county join the ranks of local governments mandating a level of green building measures.

Remember, these juridications have different development patterns, housing types, housing sizes and direction from their public officials. Visit the web site, www.bouldergreenpoints.com, to educate yourself on the processes and documentation involved. BGBG's goal is to make green building common practice! We encourage you to educate yourself about these important, impending policies decisions and thank you in advance for participating.

New Energy Economy

2007-09-26T15:51:00.000-06:00

Legislation Launches the New Energy Economy

More than 20 energy-related bills passed the legislature and were signed into law. Several of these new laws provide a critical boost to energy efficiency and renewable energy efforts in Colorado. A recent Governor's Energy Office newsletter summarized the key bills and explained how they are setting the foundation for the vision of the New Energy Economy Governor Ritter established for Colorado during his campaign last year.

House Bill 1281 doubled the Amendment 37 renewable standard passed by the voters in 2004. Investor-owned utilities must now generate 20% of their electricity from renewable energy by 2020. And the municipal and rural co-op utilities must achieve 10%.

House Bill 1279 extends the sales tax exemption on manufacturing equipment to renewable energy generation, saving millions of dollars for companies investing in Colorado and also reducing costs of electricity for all Coloradans.

House Bill 246, Clean Energy Fund, will provide a steady stream of revenue ($7m in 2008) to the Governor's Energy Office for the purposes of advancing energy efficiency and renewable energy throughout the state.

House Bill 1087 creates a grant program to place wind turbines on schools.

House Bill 1228 requires biofuels be used in state fleet vehicles.

The Greening of Government Executive Order set a goal of a 25% reduction in petroleum fuel usage by 2012 in the state fleet through the use of biofuels or by increasing efficiency.
House Bill 1146 raises the baseline for local building codes to the 2003 International Energy Conservation Code.

House Bill 1037 requires investor owned gas utilities to invest in energy efficiency, and directs the Public Utility Commission to set new goals for electric energy efficiency.

The Latest FHA News from DC

2007-09-17T11:34:00.000-06:00

THE LATEST FROM DC:
1) FHA LEGISLATION TAKES A MAJOR STEP FORWARD
On late Friday afternoon, Senate Banking Committee members struck a deal on FHA modernization legislation. This is the key step on the road to enactment of the legislation in the next 30 days assuming the deal holds. The Committee is scheduled to mark-up the bill on Wednesday, September 19th. The FHA bill can now move expeditiously through the Senate because of the bi-partisan support. The key provisions are: (We will provide an in-depth analysis of the provisions after the mark-up)
a. Higher mortgage limits
The Senate bill will increase the FHA limits as follows:
FHA floor increases from 48% to 65% of the GSE limit (i.e. from $200,160 to $271,050)
The new floor will likely be effective upon signature by the President.
FHA ceiling will increase to $417,000
This provision will likely not be effective immediately. FHA will need to analyze local markets to determine whether an increase is justified. We do believe that FHA will move to increase limits ASAP.
b. Lower and more flexible down payment
The compromise will require 1.5% borrower cash investment. There will be a cap of 100% loan-to value ratio. However, the upfront MIP will apparently be required to be included in the 100% LTV effectively capping the loan amount at 98.5% assuming an upfront MIP of 1.5%. At first glance, our thoughts on this provision are:
1. The reduced cash investment (1.5% instead of the current 3%) provides flexibility in helping the borrower to qualify. For example, it would permit the seller to pay closing costs or the homebuyer to pay closing costs through premium pricing. Gifts from acceptable sources will certainly continue to be allowed.
2. If FHA does implement risk-based pricing administratively as they have indicated, the inclusion of the MIP in the 100% LTV calculation would likely require higher down payments from higher risk borrowers. For example, if FHA implemented a 3% upfront premium for a category of borrowers, the maximum LTV would effectively become 97% (100% -3% upfront premiums.
While some would like a lower down payment/cash investment requirement, this provision is probably the best we could hope for in light of current market conditions.

c. No mention of risk-based pricing
We understand there will be no mention of risk-based pricing in the bill. However it will permit a maximum upfront premium of 3% instead of 2.25% as well as an increase in the annual premium.
What is next and when the bill be enacted?
The compromise indicates that a bill is likely. In fact, we would now be shocked if an FHA bill is not passed this year. We would expect the process to be completed and signed by the President in the next 30 days barring some unforeseen circumstance.

That being said, there are several steps to go. First, the House will vote on the legislation on Tuesday. On Wednesday, the Senate Banking Committee will mark-up its bill (highlights above) and then its bill will be sent to the full Senate for action. That should be completed quickly assuming there are no problems at the mark-up.

Probably the most critical step remaining will occur when the FHA bill goes to a conference of House and Senate Committee leaders to reconcile differences in the two bills. Because of the nature of Senate rules (i.e. minority has considerable power), we would expect most controversial provisions to be resolved along the lines of the Senate bill although changes are possible. For example, there will be a House amendment to raise the FHA mortgage limits significantly in high cost areas (as high as $700,000). While it may pass in the House, its odds of inclusion in the final bill are much more questionable at this time. However, market events over the next several weeks could also have a significant impact on this provision and possibly others.

We will, of course, follow this process through the remaining steps that hopefully will end at a bill signing ceremony by the President. While there are still some issues to be resolved, we do believe that it is appropriate to start planning for implementation of major changes to the FHA program including higher mortgage limits and changes to the down payment calculation. By the end of this week, we should have more certainty as to the likely provisions.

2) RISK-BASED PRICING
HUD has indicated that they will be proposing a risk-based price premium structure in a notice early next week. HUD will be soliciting comments before making a final decision. They had wanted to implement this proposal in January 2008. However, based on feedback they are receiving about the time needed to implement such a change, we are hopeful that HUD will delay implementation for at least several more months.

Boulder County Housing Size

2007-09-13T12:32:00.000-06:00

Notice to All Home and Land Owners of Unincorporated Boulder County

Be on notice that Boulder County has proposed a revision to the Land Use Code, if enacted, may substantially reduce the value of your home and land.

The reduction in the value of your property will result from a mandatory square footage reduction in the construction of new residences, or additions to existing residences. The current regulations provide for maximum building sizes of 25,000 sq. ft. The officials of Boulder County propose to substantially reduce residence sizes to no more than 4,500 sq. ft. in the mountains and 6,500 sq. ft. on the plains. Your family will feel its detremental effects at the time of construction or future sale of your residence.

We believe that our forefathers meant it when they said that a citizen may use his or her land in any reasonalbe matter so long as it does not create a nuisance for the neighbors. The proposed policy constitutes the taking of private property by the government, but it claims that such taking is justified because it is not taking too much property from too many people. History demonstrates that the erosion of the rights of citizens by government is successful where it is accomplished piecemeal, and only if citizens do not speak out against the denial of their rights in a timely manner.

The County's proposed policy also allows people who are wealthy to avoid the reduction in the value of their property, but effectively precludes people of moderate means from preventing the reduction in the value of their property.

The Boulder Area Realtors Association, which has expertise and experience in maintaining the values of the realty of citizens, recommends the establishment of an unbiased Blue Ribbon Study Panel and Survey to determine the economic impact the proposed revision to the Land Use Code to your property. The Land Use Coalition (http://www.landusecoaltion.org/) agrees with this sensible approach, and requestes the citizens of Boulder County to speak out against the denial of their rights in a timely manner.

Time is short. Now is the time to act to protect your rights. Notify the Boulder County Commissioners and the Boulder County Planning Commission that you will not tolerate the County enacting the proposed revision that is likely to substantially reduce the value of your home and land.

The Boudler County Planning Commission will meet to consider the proposed revision at 6 pm on September 19th, at the Boulder County Courthouse. For additional information, to to http://www.landusecoalition.org/.

Congress Ready to Tackle Mortgage Crisis

2007-09-05T09:25:00.000-06:00

With Congress set to reconvene, the mortgage crisis is among lawmakers' top priorities.

Among some of the expected measures to be considered:
> A bill that would lift Fannie Mae and Freddie Mac's portfolio restrictions in an effort to add liquidity to the mortgage market.

> An anti-predatory lending bill that would federally regulate mortgage brokers and make mortgage-backed securities investors partially liable for problem loans. House Financial Services Committee Chairman Barney Frank (D-Mass.) is expected to propose the bill.

> Housing counseling to help curtail foreclosures. Sen. Charles Schumer (D-N.Y.) plans to propose that $100 million be earmarked in an appropriations bill for housing counseling.

> Meanwhile, President Bush has proposed enabling the Federal Housing Administration to back refinances of adjustable-rate mortgages in default or close to default.

> Kurt Pfotenhauer, Mortgage Bankers Association senior vice president of government affairs, says the trade group is in favor of uniform national lending standards. While he has no comment on the legislation to be introduced by Frank on anti-predatory lending, he does not think investors should be held liable for problem loans. Pfotenhauer also expresses concerns about an overreaction on the part of federal lawmakers, noting that "if we go too far in passing rules to protect people in the mortgage market, we could end up denying them access to credit."

Source: Daily Real Estate News

What's In Your IRA?

2007-08-29T09:44:00.000-06:00

Many people know that housing is a good long-term investment, but how many consumers have integrated real estate into their retirement strategy?

These days, people can use pensions, 401k accounts, and IRA's to invest in real estate as part of a retirement plan. Self directed IRA's in particular allow investors the flexibility to invest in real estate As an added benefit, if investing through a Roth IRA, capital gains on the property are generally tax-free because contributions have already been taxed.

When considering whether to invest in real estate through an IRA, consumers should consult an expert, since the transaction can be complex, and mistakes can be costly. Intrepid investors,though, can benefit from adding real estate to their retirement portfolio.

The current buyer's market is a great time to invest!

Baby, You Can Drive My Car......

2007-08-24T11:50:00.000-06:00

Right Into My Oversized Garage.....

It seems that America's love affair with cars extends to their homes. Despite rising gas prices, the percentage of home buyers who think having a garage with two or more spaces is very important has risen dramatically over the past three years.

According to the 2007 Profile of Buyer's Home Feature Preferences, 57 % of home buyers in 2006 said an oversized garage was very important, compared with only 41% in 2003-2004.

Other features high on buyer's lists included central air conditioning, a walk-in closet in the master bedroom, and a home that is cable/satellite TV-ready.

Source: NAR Home Delivery, Residentail Real Estate Trends
August 2007

Beautify Your Bathroom

2007-08-07T12:49:00.000-06:00

Your bathroom may be the smallest room in your home, but remodeling it can feel like a huge project. Here are some tips from Home and Garden Television to help you get it done:

1. Function First. Like the kitchen, the bathroom is one of the hardest-working rooms in the house. Keep function in mind when planning any remodeling or decorating. Consider adding touches that make the room more user-friendly, such as a seat in the shower or additional lighting.
2. Determine layout. Consult the plumbing layout when you are planning to move bathroom fixtures. Think about your daily routine and plan accordingly, keeping fixtures within logical reach of each other (for example, keep the towel rack near the shower).
3. Choose color and style. Think about what you want from the room. Should is be calming? Elegant? Fun? Choose colors that fit your vision. Have fun with your theme or motif, but always keep in mind the size of the room. Too much will appear cluttered.
4. Accent with fixtures. Your faucet and other plumbing fixtures can add drama and appeal to your bathroom. Today’s products offer a plethora of styles and finishes, such as brushed metal, brass and stainless steel.
5. Lighten up. Bathroom lighting is important. Use task lighting for the sink and mirror so you can see clearly. The entire bathroom, however, doesn’t need to be drenched in glaring light. Use softer lighting elsewhere to enhance the mood. 6. Mix materials. Use fabrics and other soft objects to reduce the harshness of tiles and other hard surfaces. Choose soft and luxurious towels, mats and window treatments.

COUNTER INTELLIGENCE

2007-08-03T15:26:00.000-06:00

Granite alternatives…. Concrete, glass and stone are gaining ground as popular materials for countertops. Concrete’s biggest advantage is that it can take any shape, and it’s not as pricey as some other natural stone materials. Because it is cast in molds, it can include subtle texturing and decorative objects such as pieces of metal, fossils or glass. If you are using concrete in the kitchen, consider placing raised strips of metal cast into countertops to support pots and pans near the sink and cooking area.

For those who crave ultra-modern design, another option is glass, which comes in nearly limitless colors, shapes, thicknesses and textures. And because it is nonporous, it is stain-proof and hygienic and can handle hot pots without cracking. Since it’s translucent, it can be combined with other design elements, such as glass over aluminum or decorative tile embedded into the slab. Installing lighting under the counter creates added drama and elegance.

Finally, consider engineered stone, which is slightly cheaper than granite. It’s made from quartz crystals and polymer resin, so it’s nearly maintenance-free. Plus, it’s heat- and cold-resistant, mildew-free, stain-resistant and harder than most things you put on it, so it won’t scratch. Finally, it comes in dozens of colors — some mimic the real thing while others are made to match a designer’s palette. The cost ranges from $70 to $120 per square foot with installation.

Outdoor Furniture Fixes

2007-07-25T10:19:00.000-06:00

As the days get longer and the weather heats up, you’ll want to take advantage of the season by entertaining outside as much as possible. Tables and chairs that have been exposed to the elements all winter will probably need a good cleaning and perhaps a few repairs. Here’s advice for maintaining different types of outdoor furniture.

Good wood. Wood furniture should be kept under waterproof covers when not in use. To keep it in good shape, start off the season with a sealant such as teak oil for hardwood. If possible, don’t stand wood legs directly on grass because the moisture from the ground can rot untreated wood. For ongoing maintenance, wipe down tables and chairs every two weeks or so with a cloth that’s been wrung out from a solution of soapy wood cleaner.

Plastic fantastic. For resin furniture, guard against fading and brittleness from excessive heat and abrasive cleaners by washing with a mild all-purpose cleaner. When white plastic ages, it can yellow. If your furniture gets to this stage, you can use a mildly abrasive cleaner, which helps prevent black grime from getting embedded in the rough edges of the plastic. Soaking such a stain in a strong bleach solution — 2 1/2 tablespoons bleach to one gallon of water — also helps whiten it, but you may not get uniform results. If you can, position the chair so the bleach solution covers an even area. Rinse the solution off after 30 minutes.

Heavy metal. Metal furniture generally has a protective finish, so all you need to do is wash it with a cloth dipped in soapy water. However, if the coating has started to wear away, you can paint it again with a clear metal varnish. Most cast- or wrought-iron outdoor furniture will already have a clear varnish, but it can wear over time. To repair it, sand the damaged areas carefully before reapplying paint or varnish. Then, throughout the season, wipe down with a soapy cloth and dry very thoroughly.

Chill Out

2007-07-18T10:58:00.000-06:00

Want to keep your electric bills from going through the roof this summer? Here are a few environmentally friendly steps you can take to keep things cool.
· Open windows and use portable or ceiling fans instead of operating your air conditioner. Even mild air movement can make you feel three or four degrees cooler.
· Without blocking air flow, shade your outside compressor. Change air filters monthly during the summer.Use a programmable thermostat with your air conditioner to adjust the setting at night or when no one is home.
· Don’t place lamps or TVs near your air conditioning thermostat. The heat from these appliances will cause the air conditioner to run longer.
· Install white window shades, drapes or blinds to reflect heat away from the house. Close curtains on south- and west-facing windows during the day.
· Caulking and weather stripping will keep cool air in during the summer.
· Turn off your computer and monitor when not in use.

The Nose Knows

2007-07-10T14:04:00.000-06:00

Can the way your home smells have an impact on how it sells?
You bet!

A poll by Canadian real estate company Royal LePage shows that the odor of a home has a huge impact on buyers’ decisions about whether to buy a home. According to the poll, 53 percent of buyers said strong odors such as pet and cigarette smells had a stronger impact on their impression of a home than overall tidiness and cleanliness, strong wall colors or an outdated facade and landscaping.

Here are some tips for making sure your home has good scents:
· Don’t mask smells with candles or potpourri. Buyers will wonder what odor you are trying to hide.
· Keep the exotic spices and fish to a minimum when cooking the night before a showing. Work toward achieving a “clean” smell.
· Remove animals and litter boxes from the property.
Getting rid of repellent scents is the first step, but some staging experts also advise using “homey” smells to entice buyers. After all, who doesn’t love the aroma of freshly baked cookies or pie?

Is Your Home Baby Ready?

2007-07-03T11:33:00.000-06:00

More than 2.5 million children are injured or killed each year in household accidents, according to the National Safety Commission (NSC). Fortunately, there are many things you can do at home to keep your child safe — just taking a moment to view your home from a child’s perspective will help you identify many potential hazards.

Suffocation is the most common type of accident in the home for children under four years old and the most common cause of accidental death in children under one. To prevent these accidents, make sure that all pull cords are secured and out of reach of children. Also remember to put all small objects – coins, rings, batteries, etc. – out of children’s reach. And in your child’s bedroom, crib bars should be no more than two-and-three-eighths-inches apart. The Consumer Product Safety Commission has a list of approved cribs on its Web site, www.cpsc.gov.

Another hazard in your home is hot water, which can burn or scald young skin. An easy fix is to set your hot water thermostat to no more than 120 degrees. If you are unable to control your water heater, anti-scald devices for faucets and shower heads can help regulate water temperature. To prevent electrocution, cover all outlets with outlets covers, which can be purchased at any hardware store. Be sure that they cannot be removed easily and are not small enough to be a choking hazard.

To find information on other child safety products and related information, visit www.cpsc.gov and www.nsc.org/library/facts/babyprf.htm.

GET SOME SPACE!

2007-06-28T16:39:00.000-06:00

Small spaces can be warm and intimate. But if a room in your home feels more cramped than cozy, there may be a simple way to improve it.

Odette Lueck, of Odette Lueck Interiors in Oakland, Md., says the best way to stretch the size of a room is to start from the ground up. “The thing I use most is diagonal lines on the floor,” says Lueck, who suggests installing wood flooring or tiles in a diagonal line. “No matter which way you look, it’s expanding the border.”

If you’re not ready for a major project, you’d be amazed at what you can accomplish with just a few decorating tricks. First and foremost is color. To make your room appear larger, stick with neutrals and keep backgrounds (wall, furniture, draperies) the same color, says Lueck. But neutral doesn’t have to be boring. “Use your color in accessories,” says Lueck. But beware of patterns. Too many patterns can make a space seem cluttered.

Furniture placement is also important. The number of pieces should be kept to minimum and positioned against a wall. “Use glass coffee tables,” suggests Lueck. “It’s one less thing to be a solid focus in the a room.” Don’t be afraid to use a little creativity. For example, a stack of coffee table books next to chair can serve as a unique end table.

Another option is to embrace the room’s petite size. “More often than not clients
make the mistake of thinking that room always has to be larger,” says Lueck. “Small is
not necessarily bad. A lot of times, what you’re actually striving for is a more
intimate space.” To warm up a small room, include dark colors, lots of wood and plenty of cozy
fabrics.

The Call Of the Outdoors

2007-06-22T15:40:00.000-06:00

If you think outdoor living simply requires a few folding chairs and a hibachi on your
back porch, think again. According to the Hearth, Patio and Barbecue
Association (HPBA), homeowners can set up
a basic outdoor living space consisting of a durable, high-performance grill, a dining area with table and chairs, lighting, a patio umbrella and a portable heater or fireplace for as little as $2,500. For larger spaces and budgets, high-end landscaping, an in-ground swimming pool and a kitchen island with appliances create an ideal place to entertain family and friends.

To get you started on building your ideal outdoor room, here are a few tips:
* Decide how you will use the space. Will you entertain family and friends, or use it as a relaxing hideaway for yourself?
* Create a wish list of features you want your outdoor room to have. Clip photos from magazines or keep a notebook of ideas.
* Consider your home’s architectural style, so your outdoor room design complements your indoor space.
* Work with a specialty retailer who can suggest products and guide you on your final plan.
* Sketch a layout of your outdoor room with the fireplace as the focal point. Then blend in the cooking and eating areas.
* Consider the foundation, such as retaining walls, fences and decks.
* For large-scale projects, implement your plan over a two- or three-year period, beginning with electrical and plumbing. Accessorize the space during the second year, and add landscaping last.
Once your outdoor room is complete, you won’t want to spend time anywhere else.

COLO. 7 UPGRADES AND REROUTING UNDER REVIEW

2007-06-13T10:45:00.001-06:00

Eight municipalities in Adams, Weld and Boulder Counties and now working with the Colorado Department of Transportation (CDOT) to consider significant expansion and rerouting of Colorado 7 to accommodate future development and transportation planning. Under review is the section of highway stretching east from Lafayette, bordering Broomfield, Erie and Dacono, and that runs through sections of Brighton. The municipalities and CDOT are cooperating to raise the $700,000 needed to complete the planning. The goal is to determine where additional lanes, realignments, traffic signals and intersection improvements are needed. CDOT will add $350,000 to the funding. Brighton officials are very interested in rerouting around its downtown and to mitigate high volume, high speed traffic. Locally, Lafayette and Erie are cooperating to reroute the highway north along 119th Street to Arapahoe, mitigating the nearly 20,000 vehicles that pass through Lafayette daily. Once funded, the study will commence in January 2008.

Source: BARA/In Region

Local Real Estate 1st Quarter Report

2007-06-06T13:59:00.000-06:00

Local Real Estate Report
1st Quarter 2007

Housing market stats for the 1st quarter of 2007 have been tabulated and show some pros and cons over the 4th quarter of 2006 as follows:

Q4 ’06 Q1 ’07 Q2 Forecast
Average Price $456,100 $469,000 ↑
# Homes on the Market 1,821 2,180 ↓
# Homes Sold 782 659 ↑
# New Homes Built 51 47 ↑
Avg # of Days on Market 107 124 ↓

In the Boulder area marketplace, we are continuing to see homes being sold at a higher than average pace and price range than that of the rest of the nation. The market is correcting itself however with some price moderation; the percentage of asking price vs. sold price remains at a respectable mid 90’s percentage range in Boulder County. Combined with historically low mortgage rates, home sales should continue at a steady pace – people still need homes!

The region added 5,900 jobs in the past 12 months. More jobs could also be added based on the weakness in the dollar, which helps the U.S. exporting companies. The forecast, as reported by Lawrence Yun, NAR Senior Research Forecaster: “Best guess is for home sales to show a year-over-year growth by the 4th quarter. The momentum will strengthen in 2008. Prices will also show a respectable rise in 2008. The market just needs to pass through the subprime loan implosion in 2007.”

Source: Information and Real Estate Services, LLC

REAL ESTATE - A LOCAL MARKET

2007-05-18T15:39:00.000-06:00

First quarter statistics for the Boulder area real estate market are encouraging:

The average price of homes in UP!
Mortgage rates remain low!

According to NAR, the forecast for the second quarter indicates that the average price per home will continue to rise; the number of homes on the market will decline; the number of homes sold will rise; the number of new homes built will rise; and, the average days on the market will decline.

Integrity!

2007-05-09T12:53:00.000-06:00

In today's dog-eat-dog world, the word "integrity" has become more of a concept than an actual character trait. Watch an old Jimmy Stewart movie sometime, you'll learn about old-fashioned integrity. Remember George Bailey in "It's a Wonderful Life?" He always did the thing he knew in his heart was right.

I wouldn't say that I'm anything like George Bailey, but I will say that in the business of real estate, integrity is my greatest asset, one that I protect with every decision, increase with every satisfied customer, and ensure with every positive action.

You deserve the absolute highest level of integrity in every transaction. And that's my pledge to you, and your friends or others that you might refer to me.

If there is any way that I can help you or an associate, please call at your convenience.

Spring Spruce-Up Tips

2007-04-27T11:21:00.000-06:00

9 Spring Spruce-ups
On a Shoestring

LowesRealtorBenefits.com
Source - Reprinted with permission for our customers: © 2007 by Lowe’s®.
1. Spring into cleaning – Use a little elbow grease to
make your floors, windows, appliances and light
fixtures sparkle. Potential buyers feel more comfortable
when viewing a clean house.
2. Minimize clutter – “Less is more” when it comes
to staging your home for sale. Put anything in storage
that takes away from a room’s overall impact.
3. Organize closets – A well-organized closet will appear
roomier, which is what buyers want. There are
a number of affordable closet shelving and storage
systems that you can install yourself.
4. Paint works wonders – Fresh paint can be the
least expensive way to transform a room. Neutral
colors work best because a buyer can move in
now and choose their custom colors later.
5. Make a great first impression – Pretend that
you’re entering your home for the first time. If there
are cobwebs or peeling paint on your front door,
that first impression will be negative. Make needed
repairs and replace an overly-worn welcome mat
with a new one.
6. Add color with containers – Add container plantings
to your front entrance for a welcoming focal
point. The following plants are perfect for spring:
ivy, sweet alyssum, geranium, snapdragon, salvia,
liriope, and dianthus.
7. Fresh cut flowers – Fresh flowers bring the outdoors
inside, adding color and aroma. If your home
is painted in neutral tones, choose brightly colored
flowers. If your home is already full of color, opt for
lighter hues, such as white or yellow.
8. Spring touches – Lighten up your decorating
with throws and toss pillows that say “Spring”.
Pack away those heavier quilts and winter accent
pieces.
9. Hot color trends – This Spring, soothing mint and
bright foliage are two striking variations of this
season’s signature color: green. Other tones also
incorporate a hint of green, including light, airy
blues and deeper gray teals. Honey-hued yellows
and subtle shaded purples, along with bright white
round out the season’s palette.

Tax Time!

2007-03-30T11:19:00.000-06:00

Look for New Breaks at Tax Time
Last-minute changes may affect your 2006 income taxes.

Before you file your 2006 income taxes, double-check that you and your tax preparer have digested the last-minute changes made with the Tax Relief and Health Care Act of 2006, passed December 20, 2006.

The good news: You may qualify for some of these deductions.

The bad news: The tax law changes were passed after the IRS's November print deadline for key 2006 forms, which means that some of the printed forms you have in hand could be inaccurate. Yes, those tax forms that are already difficult for most of us to decipher have the added level of difficulty with possible inaccuracies.

The IRS knew that special extenders could be passed by Congress, so some of their forms indicate that there was legislation pending. Still, the IRS decided not to reprint all of the 2006 tax forms that are affected. Instead, they are relying on you to find out about the changes to correctly fill out the paper forms or download the correct forms from their website.

Before you say that you've missed the boat on any possible way to take advantage of the changes because you have already filed your returns for 2006, stop that thought. Ask your tax preparer to help you make the correction on Form 1040X if you filed as an individual or Form 1120X if you filed as a corporation. In most cases, you have up to three years to file the correction.

Many of the changes include extensions to previously discontinued programs. Listed below are the changes that are most likely to affect you.

Health savings accounts (HSAs) function a lot like IRAs, except they are earmarked for healthcare expenses. If you have an HSA, you can claim a tax deduction for contributions that you — not your employer — make to your tax-deductible HSA in 2006. Planning for the rest of 2007, you can make pre-tax contributions equal to your annual deductible, up to $2,700. (These contributions aren't included in your gross income.) If you want to transfer funds into your HSA from your IRA, you can make a one-time transfer of $2,850. You can also make a one-time transfer from a flexible spending account or a health reimbursement account. There are restrictions on the maximum transfer amount, so check with your accountant before making changes.

IRA contribution limits have risen for the 50+-year-olds who have Roth and traditional IRAs: from $4,500 to $5,000 for 2006. If you are under 50, the limit is still $4,000. If you are 70-1/2 or older, you can transfer up to $100,000 tax-free to an eligible charity. This contribution counts toward your minimum required distribution, which means that it's a tax-free way of moving the required funds out of your IRA. (More information can be found at IRS News Release IR-2006-192.

Welfare to Work Credit (WTWC) and Work Opportunity Tax Credit (WOTC) concerns employers who hire economically disadvantaged employees — convicted felons, food stamp recipients under age 25, high-risk youths, etc. This credit had expired at the end of 2005 but was extended through 2007. If you have hired someone from a qualifying group, you can typically claim 40 percent of the qualified first-year wages, with a maximum of $2,400. If you've hired someone this year who may qualify you for this credit, keep in mind that WTWC and WOTC are combining into just the WOTC, which means more changes. (For more information, click here and here.

Sales tax claims have changed for states that don't have state and local income taxes. The IRS allowed those taxpayers to claim state and local sales taxes in 2004 and 2005. With the end-of-the-year extenders, those affected taxpayers can continue to claim sales tax (including any paid for houses, cars, and boats) through 2007. The sales-tax tables weren't included in the Form 1040, so you will need to visit the IRS website for Publication 600, which helps figure out the deduction that is done on line 5 of Schedule A with the notation 'ST' to the left of line 5. For more information, click here.)

Your personal taxes If you are keenly tax-aware, you know that around November each year the IRS uses its authority to make some decisions that affect income tax filing, including those that involve cost-of-living deductions. A few of the other 2006 income tax changes that you should know about include the following:

Standard deductions typically change each year, based on cost-of-living changes. For married couples filing a joint return and qualifying widows and widowers, the standard deduction went up $300 to $10,300. For singles and married people who file separately, it rose $150 to $5,150. Heads of households have a standard deduction of $7,550 — up $250.

Standard mileage rates also change almost every year. For 2006, the mileage rate for business use of a vehicle was 44.5 cents per mile. The rate for this year, 2007, is 48.5 cents per mile. Also, if you are involved in helping out with any charitable building with Katrina, the mileage rate is 32 cents per mile for 2006, which is higher than the standard 14 cents per mile for other charitable services.

Direct-deposit tax refund choices have expanded for 2007. Starting with your 2006 federal income tax refund, you can split your refund among three bank accounts. You will need to complete Form 8888. If you want funds deposited in just one account, just use the direct-deposit line on Form 1040.

Overwhelmed? Tax laws and the IRS forms can seem daunting, but it's worth taking the time to check into these end-of-the-year changes. They could affect your income tax return this year and may even affect the way you are planning to manage the rest of 2007.

If you'd like more information about the last minute tax changes, check out IRS Pub. 553 Highlights of 2006 Tax Changes.

Source: Theresa Coleman is a freelance writer and editor based in Ambler, Pa. She has an extensive background in publishing with the National Association of Home Builders, covering job-site safety among other topics.

The Advantages of Working with a REALTOR

2007-03-23T15:59:00.000-06:00

Working with a real estate professional who is a REALTOR® is in your best interest. That's because:

Not everyone who sells real estate is a REALTOR®. Possessing a real estate license does not afford instant REALTOR® status; an important distinction of which you need to be aware. A REALTOR® is a member of local, state and national professional trade associations and, as such, has access to a vast array of educational programs, research and resources. A REALTOR® subscribes to a strict Code of Ethics developed by the NATIONAL ASSOCIATION OF REALTORS®. REALTORS® pledge to provide fair treatment for all parties involved, protect the right of individuals to own property and keep abreast of changes in real estate practice through continuing education and interaction with other professionals.

REALTORS® also are committed to higher levels of education and professional development; many REALTORS® have earned professional designations or specialty certifications requiring intensive study. For example, REALTORS® who have obtained the Accredited Buyer Representative and Certified Residential Specialist designations have been trained in all aspects of serving as buyers' and sellers' representatives in real estate transactions.

Your REALTOR® can tap into numerous resources, like immediate access to full-time real estate attorneys who can provide objective up-to-the-minute counsel. Your REALTOR® also receives up-to-date information on a wide variety of legal, financial and economic issues and has access to an association with more than 80 years of experience in real estate. And, if things don't work out, your REALTOR® can offer arbitration as a choice instead of lengthy and expensive legal proceedings.

In addition to subscribing to the REALTOR® Code of Ethics and belonging to their local, state and national REALTOR® associations, some REALTORS® have undergone additional training to serve specific markets and client groups. If, for example, you'd like to work with a REALTOR® who is familiar with international transactions or a REALTOR® who works primarily with elderly clients, you might want to find REALTORS® who are designated as Certified International Property Specialists (CIPS) or Senior Real Estate Specialists (SRES), respectively.

E-Mail

2007-02-28T16:33:00.000-07:00

Get Wired: E-mail Mistakes That Make You Say, 'Uh Oh'

Here are some easily avoidable mistakes you should know to keep your image and inbox in tip-top shape.

Failing to follow e-mail etiquette:
- Don't write when you're angry. Calm down. Have someone else edit your e-mail.- Don't use sarcasm. You may think you're clever, but the recipient will be put off.
- DON'T USE ALL UPPERCASE! That's the e-mail equivalent of yelling. Go easy on the exclamation marks, too. Overuse dulls their effectiveness.
- Use clear subject lines. That will help people decide whether to read the e-mail now or later.
- Keep it short. If your e-mail is more than two paragraphs, maybe you should use the telephone.

E-mail is almost like talking. We use it so much that we don't really think about it. But there are rules and courtesies, just as there are with talking. Giving them some additional thought could make your e-mail experience more satisfying and your recipients much happier.

Source: MSN.com

FREE SEMINAR

2007-01-19T14:39:00.000-07:00

REAL ESTATE INVESTMENT SEMINAR

LEARN TO USE THE KNOWLEDGE OF INDUSTRY EXPERTS!

Seminar Details
Date Sunday, January 28, 2007
Time 1:00 ~ 4:00 p.m.
Location RE/MAX of Boulder, Inc.
Call to reserve your seat today ~ Space is limited
(303) 415.3590

Refreshments Provided

Economic Outlook for Boulder & Colorado
Investment Strategies In Today’s Market
Foreclosure Investments ~ Pitfalls and Profits
Panel Discussion ~ Ask The Experts!
Bring All Of Your Questions And Ask The Experts For Their Advice!
1031 Exchanges; Using Your IRA To Fund Investments; Mortgage Strategies;
Title Commitments; Estate Planning, and Tax Advantages; and,
Tenant-In-Common Investments

Ask The Experts:
Lou Barnes, Owner
Boulder West Financial Services
Attended Choate School & Brown University
Colorado Real Estate Broker since 1978
National Association of Securities Dealers Principal and Sales Licenses
Author & Publisher of Mortgage Credit News, a national weekly newsletter
Author of a finance column for the Boulder Daily Camera since 1992
Mark Casey, Regional Director
SCI Real Estate Investments, LLC
MBA, Colgate Darden School, University of Virginia
BS, University of Missouri
20+ years of progressively challenging commercial real estate experience
At the individual investor level, he has successfully structured ownership groups
and facilitated tax-deferring 1031 Exchanges
AJ Chamberlin, Broker Associate
Residential REALTOR® since 1990
Active member of National Association of REALTORS®
Active member of Colorado Association of REALTORS®
Chairperson of State Legislative Committee, Land Use/ CAR
President, Property Owners for Sensible Road Policy
Former President, Sugar Loaf Community Inc.
Former President, Land Use Coalition
Recipiant of Colorado Realtors Political Service Award, 2005
BA, University of Colorado
John Chamberlin, Broker Associate
Residential REALTOR® since 1985
Active member of National Association of REALTORS®
Active member of Colorado Association of REALTORS®
Active member of Real Estate Buyer’s Agent Council®
Past Director of Boulder Area Realtor Association®
Past member of Arbitration Committee, BARA
Past member of Grievance Committee, BARA
Past member of MLS Committee, BARA
Past member of MAD Committee, BARA
Former Owner/Broker of ERA 1st Choice Realty, Inc.
New Home Sales Specialist/Former On-Site Builder Sale Manager
Jim Hunter, Production Manager of Northern Colorado
First National Bank
Attended University of Maryland & Towson State University
Certified Mortgage Lender (CML)
Past president of Northern Chapter of the Colorado Mortgage Lenders Association
Member Board of Directors, Northern Chapter Colorado Mortgage Lenders Association
Member of Fort Collins Sertoma, a national service club
Member of Colorado State Men’s Roundball Club
Betty Marick, CES
1031 Corporation Exchange Professionals
Certified Exchange Specialist since 1998
CES, Federation of Exchange Accommodators
She was among the first in the nation to receive her CES designation
Former escrow officer
Former title examiner
Colleen P. Weaverling, CPA
Certified Public Accountant since 1982
BS, Business Administration from Trinity University, San Antonio TX
Specializing in Individuals, Small Business, International, Personal Service
Corporations, Accounting and Taxation, Medical/Dental Practices
Member of American Institute of CPA’s
Member of Colorado Society of CPA’s
League Coordinator of Boulder Tennis Association
Founding member of Centennial Valley Tennis Association
Past treasurer of Centennial Valley Tennis Association
Karen Woolhiser, Senior Residential Mortgage Lender
First National Bank of Colorado
Top producer of residential mortgages since 1974
Preferred mortgage lender with RE/MAX of Boulder for 6 years
Major fund raiser for Boulder Community Hospital & Boulder County Hospice
“My #1 goal is to design a loan program to meet your specific needs.”
Catherine Wynne, VP
Entrust New Direction IRA, Inc.
Catherine Wynne is one of the two principals in Entrust New Direction IRA, Inc. New Direction is a self-directed IRA administrator which assists clients who want to diversify their IRA/401k plans into non-securities based assets like real estate. She has extensive background in buying and selling commercial real estate, both as an investor and an IRA administrator. The result is that Catherine is intimately familiar with what it takes to make a real estate investment — taxable or otherwise — work. She understands that assembling the investment and paying attention to the details of the transaction as well as the IRS rules is important. Working primarily in client asset acquisition she is well acquainted with the IRAs purchase of a wide variety of assets such as mortgages, notes, private placements and LLCs. Catherine has a BS in Structural Engineering from the University of Pittsburgh and spent the first part of her career in oil and gas production, later moving into nuclear power plant design with Westinghouse before moving into retirement plan administration.

5 Reason You Need A Realtor

2006-11-29T16:24:00.000-07:00

5 Reasons You Need A REALTOR

A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.

Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of 77 days. And it usually takes another 35 days or so for the transaction to close after an offer is accepted.

Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.

REALTORS have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.

REALTORS provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, homeselling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you keep focused on both the business and emotional issues most important to you.

REALTORS are members of the NATIONAL ASSOCIATION OF REALTORS, a trade organization of more than 1 million members nationwide. REALTORS subscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity.

Freddie Mac Announcement

2006-11-16T13:50:00.000-07:00

Freddie Mac economist says worst of US housing slump over

Nov 15, 2006
WASHINGTON (MarketWatch) -- The worst of the nation's housing slump is over, and the market should show signs of a pickup around mid-2007, a senior economist at Freddie Mac (FRE) said Wednesday.

"I think the worst is behind us in terms of the downturn in the housing market," said Frank Nothaft, Freddie Mac vice president and chief economist, at a luncheon in Washington, D.C.
While Nothaft felt the market may not have reached its "trough" yet, he said it was unlikely that housing starts would plummet as dramatically as they did from the third quarter of 2005 to the third quarter of 2006, when they fell by 18%.

"Housing starts will trend a bit lower, and we have them bottoming out at some point in the first half of 2007," Nothaft said. "I think by the midpoint of 2007 we're going to consistently see some positive signs," he added.

Those predictions for the housing market coincide with Nothaft's expectations for below-trend overall economic growth in the first half of 2007, followed by an uptick in the second half of next year, with overall gross domestic product growth coming in at 3.2% for 2007.

Real Estate Real Talk!

2006-11-09T10:13:00.000-07:00

Are you all tired of being beaten up by the press about how bad the real estate market is?

Don't they realize that LOCALLY this is our second best year ever? 2005 was the best!

Don't they also realize that the market slows down about this time every year?

Yes, we have higher amount of inventory, but the prices are still inching up!

Here is a breakdown of September 2005 - September 2006 average house price changes:

Boulder + 5.8 %

Broomfield + 1.7 %

Erie + 0.4 %

Lafayette + 3.5 %

Longmont + 3.5 %

Louisville + 6.7 %

Superior + 5.4 %

Mountains + 9.9 %

Plains + 8.2 %

MEDIA HYPE

2006-10-19T16:11:00.000-06:00

Economists Challenge Media's Negative Drumbeat on Housing

By Kenneth R. Harney, Realty Times Columnist: Is it a housing bust or a media-driven panic? Mike Moran, chief economist for Wall Street's Daiwa Securities America, says he's surprised that virtually nobody has challenged the constant drumbeat of negative headlines and TV news warnings of imminent crashes and home price meltdowns.

"It's really been way out of line with reality," says Moran, whose firm specializes in the bond market. When a 1.7 percent decline in the median home price nationwide sparks headlines about the "housing bust," that is "just pure sensationalism about what is going on here," he said in an interview.

The housing market "is going through a correction that's badly needed" after five years of record sales and price appreciation. "The key issue is whether it is orderly or disorderly" - and it's clearly the former. Yet the financial press and TV news programs are "portraying it as a catastrophe."

Moran got indirect support for that view from other economists, including the Mortgage Bankers Association of America's chief economist, Doug Duncan, who said "the rhetoric is just way overwrought" - the sky is not falling in the real estate and mortgage sectors.

To the contrary, even the Federal Reserve's vice chairman believes the current correction will not be dramatic or even that long-lived, and that the housing slowdown will not have dire side effects on other parts of the economy.

In a speech that went virtually unreported by major media, vice chairman Donald L. Kohn told New York analysts that the "rebalancing" of prices to better fit current demand that is under way in many metropolitan markets is a normal, cyclical event - not an incipient disaster. In fact, it may even be a healthy and necessary part of the cycle: "The reported declines in new home prices in a number of areas should help facilitate the rebalancing of supply and demand" - i.e., lower prices should help gradually expand the number of serious buyers looking for houses.

Thanks to strong underlying demographic factors - new household formations and population growth - the current down phase may be relatively short-lived, Kohn suggested. New housing "starts may be closer to their (low point) than to their peak." If one takes mid-summer 2005 as the peak of the multi-year housing boom, Kohn appeared to suggest that the low point of the cycle - and the beginning of the eventual turnaround - could be just over the horizon.

The latest pending home sale index from the National Association of Realtors, which showed a surprising 4.3 percent jump in the number of sales in the contract stage, but not yet closed, supports that conclusion.

Kohn also noted that other economic conditions today do not point to a deep housing price recession or bust. For example, long-term mortgage interest rates are about a point above their historic lows, the Fed itself has stopped raising short-term rates, gas prices are falling, and the unemployment rate just dropped to 4.6 percent.

The current "situation stands in sharp contrast to some past downturns in the housing market" - in the early 1980s especially - "that followed actions by the Federal Reserve to tighten credit conditions significantly."

"Continuing growth in real incomes should underpin the demand for housing," said Kohn, "and as home prices stop rising, help to erode affordability constraints."

How come you're reading about the Fed vice chairman's moderately upbeat speech here rather than watching it on the evening news or reading about it in your newspaper?

Good question.

SUPPLY & DEMAND

2006-10-13T14:00:00.000-06:00

There has been a lot of news media in the recent past about the "slowing housing market"....

Did you know that this year ranks among one of the highest in home sales? Well, probably not, the news media isn't talking about that.....

There are times when the economy is brisk and everyone feels confident about the future. As a result, people spend money. They eat out more, buy new cars, and they buy houses!

In a slowing market where the supply of available houses is greater than the supply of buyers, appreciation may slow and prices may even fall. If you are lucky enough to purchase a home during a slow period, you will probably have lower interest rates available for financing, you can be reasonably certain the economy will begin to show strength again and along with it higher appreciation rates.

Well, we are in that SUPPLY & DEMAND timeframe, interest rates are low AND NOW IS A GREAT TIME TO INVEST IN A HOME PURCHASE!

Since 1983, we have had two failrly long expanses of hot real estate markets with only a slight recession in between each. You would not want ot wait nine years to buy a home, would you? You could miss out on a substational amount of appreciation by waiting, and end up paying much higher prices.

BUY NOW - THERE IS A FABULOUS SUPPLY - LOW INTEREST RATES - LOW PRICES!

Best Of The Best

2006-09-27T14:06:00.000-06:00

We're Number One!

Boulder ranks high in many national publications lists.

And, RE/MAX of Boulder, Inc. , once again wins the destinction by being voted "Best Of The Best" - Boulder Realtors!

READY - SET - BUY

2006-09-21T14:20:00.000-06:00

WHETHER THE HOME YOU ARE ABOUT TO BUY IS NEWLY BUILT OR PREOWNED - ESTABLISHING YOUR PRIORITIES EARLY IN THE HOUSEHUNTING PROCESS IS VITAL!

Identify FAMILY priorities: Begin with a family discussion of priorities, a "must list". Establish a price range and mortgage amount that you can qualify for. Determine how long you expect to live there and its location. Select a competent and experienced REALTOR.
Define INDIVIDUAL priorities: Identify privacy needs, family and individual activity requirements, and space needs to accommodate your current and anticipated lifestyles and preview homes that fit those priorities as closely as possible.
Establish MONETARY priorities: Expect some anxiety - it's normal whether you are a first time buyers or veteran movers. Avoid "qualification anxiety" by meeting with a lender early-on so that you know what price range you can qualify for and search with your REALTOR in an appropriate range.

WHY RENT WHEN YOU CAN OWN

2006-09-13T13:48:00.000-06:00

Home Ownership - A Good Investment In Your Future!

As a general rule, homes appreciate about five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.
Five percent may not seem like that much at first. Stocks, may at times, appreciate much more and you could currently earn 4.87 % with 30 year treasury bonds, the safest investment of all.
Over the last 10 years, the cost of renting housing in the U.S. has increased an average of 3% per year. That means that an apartment or home renting for $1,000 per month will cost more than $1,300 per month in 10 years. If you rent the same home for 10 years, the total amount you would pay for rent will equal $137,567!

None of that $137,567 is returned to you, either through savings or as an investment. Homeownership, on the other hand, has tax advantages that renting does not, and those advantages can help you save money! Unlike your monthly rent, part of your monthly mortgage payment “comes back to you” in tax savings.

Return On Investment

If you bought a $250,000 house, obtained a mortgage, and put as much as 20% down—that would be an investment of $50,000. At an appreciation rate of 3% annually, a $250,000 home would increase in value $7,500 during the first year. That means that you earned $7,500 with an investment of $50,000—an annual “return on investment” of 15 %!

Plus Income Tax Savings &Tax Advantages

Because of income tax deductions, the government is basically subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year may be deducted from your gross income to reduce your taxable income.

For example, assume you purchase a home that costs $250,000. Your down payment is $50,000 (plus closing costs incurred to actually process the transaction). You finance the balance with a 30 year fixed rate mortgage at 7 % interest, making your initial loan balance $200,000. During the first year you would pay $13,935 in interest. If your first payment is January 1st, your taxable income would be $6,135 less due to the IRS interest rate deduction!
Property taxes are deductible too. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation.

Tax Advantage & Home Ownership

Annual Taxable Income $50,000
Interest Deduction -13,935
Property Tax Deduction - 2,500
Taxable Income $33,565
Tax Liability $10,069

Annual Tax Savings $3,401
Return on Investment $7,500
Principal Payment $2,031
Ownership Advantage $12,932

Freedom & Individualism

When you rent, you are normally limited on what you can do to improve your home. You have to get permission to make certain types of improvements. Nor does it make sense to spend thousands of dollars painting, putting in carpet, tile or window coverings when the main person who benefits is the landlord, not you.
When you own a home, however, you can do whatever you want. You get the benefits of any improvements you make, plus you get to live in an environment you have created.

Your rate of return when buying a home is higher

than most any other investment you could make!

It's Easy Being Green!

2006-09-11T15:34:00.000-06:00

Have A BBQ!

You knew grilling was a healthy way to cook vittles, but did you know it was good for the air? Outdoor grills take less energy than electric kitchen stoves. They also keep heat out of the house, lowering air conditioning costs.

Stick with grills that use propane or natural gas; they emit 5.6 pounds of carbon dioxide into the atmosphere while a charcoal grill belches 11 pounds of the air-polluting compound.

One more thing - dine on reuseable plates, not disposable paper ones.....The Tress Will Thank You!

Economic Outlook & Real Estate

2006-08-30T14:11:00.000-06:00

Excerpts from The Kiplinger Report:

Will housing's slump cause a recession?
* No. But it will slow growth a lot through next year, until the balance of supply and demand for residential property returns. Next year...2.5% economic growth TOPS, and it may well be closer to 2%.

Housing is delivering a triple economic whammy:
* A sharp, sudden drop in housing construction, financial strains on many homeowners' incomes and a major chill in consumer confidence.
* Energy prices remain the linchpin on whether the economy sinks or swims in 2007.
A big increase in costs of oil and other fuels would be too much for U.S. consumers to bear on top of the hit they're taking from housing.
* Most likely, oil prices have peaked and will start a slow easing after Labor Day. But supply disruption risks are rising as conflicts in the Middle East gain intensity.
* Average home prices will stay flat through about the middle of next year. By then, builders will have curtailed supply enough to allow the current overhang of about 300,000 houses nationwide to start to be absorbed by the market.
* Still, sellers will face a dismal spring, usually the best sales season.
* We see starts sliding to 1.7 million next year from 1.85 million this year. Population trends argue for an average of 1.8 million homes to be added annually, but builders surpassed that level in 2004 and 2005.
* Much of that surplus went to speculators, but the demand has vanished.
* Housing will play a big part in slowing job growth. Next year, net employment growth will slacken to an average of 117,000 a month.
* Home building and related fields...mortgage finance, furnishings, design, landscaping, etc...have made up 25% of overall job growth since 2002.

The housing cooldown will have a broader reach than expected just a few months ago. Back then, it seemed that the bulk of the downturn would be restricted to former boom areas, located mainly on the coasts. But sluggishness in some industries, especially autos, is taking its toll on some inland areas, notably Ind., Mich., Ohio and parts of Pa. and N.Y.

That doesn't spell a shift from a market correction to a crash. The market is adjusting, albeit very quickly, from an extended period of unusually robust activity made frothy by investment-led purchases. By late 2007, homeownership will resume its historical role as a relatively secure store of value that also provides shelter.

Strong global demand is putting a firm floor under oil prices, keeping them between $70 and $75 a barrel through Nov. at least.
* Of course, any new threat to supplies will produce sharp price spikes.
* Gasoline prices WILL start coming down after Labor Day, as usual.
* But motorists may hardly notice. In past years, pump prices fell about 15% between the end of summer and early Jan. This year, the drop will be about half that, to $2.75 a gallon, on average, from $2.95 now.
* Diesel fuel...down only about a dime, from $3.11 a gallon.
* Heating oil...up about 30¢ a gallon, on average, this winter from $2.80 this summer. That's about 25¢ a gallon higher than a year ago.
* Natural gas will be much costlier by year end as well, increasing to $10 to $12 per million British thermal units, from $7 now, as demand for electricity to heat homes puts pressure on scant supplies.

Although many large U.S. companies are flush with cash... Not all are prosperous. Public company bankruptcies are rising this year for the first time since 2001 and will keep climbing for years. Among the reasons: Higher interest rates, a cooling housing market and high energy costs will bedevil firms struggling to pay off debt.

HOW A NEW CAR PAYMENT REDUCES YOUR PURCHASE PRICE!

2006-08-23T09:57:00.000-06:00

BUY THE HOUSE FIRST!

When determining your ability to qualify for a mortgage, lenders look at what is called your "debt-to-income" ratio. A debt-to-income ratio is the percentage of your gross monthly income that you spend on debt. This will include your monthly housing costs, including principal, interest, taxes, insurance, and HOA fees if applicable It will also include your monthly consumer debt, including credit cards, student loans, installment debt, and ..... car payments.

For example, suppose you earn $5,000/month and you have a car payment of $400. At current interest rates you would qualify for approximately $55,000 LESS than if you did not have the car payment. Even if you feel you can afford the car payment, mortgage companies approve your mortgage based on THEIR guidelines, not YOURS!

However, if you have not already bought a car, remember one thing. Whenever the thought of buying a car enteres you mind, think ahead.....Think about buying a home first. Buying a home is a much more important purchase when considering your future financial well being.

Do Not Buy The Car First -- Buy The House First!

Buying A Home Is A Good Investment!

2006-08-18T14:48:00.000-06:00

As a general rule, homes appreciate about four or five percent in a year. Some years will be more, some less. The figure will vary from neighbohood to neighborhood and from region to region. Boulder County has generally seen much higher appreciation rates over the years.

Five perdent may not seem like much. Stocks can sometimes appreciate much more and treasury bills or bonds are a pretty safe return on investment.

Let's take a look at a property investment....

If you bought a home for $200,000 with a 20% downpayment, your initial investment would be $40,000. At an appreciation rate of 5%, your home would increase in value by $10,000 during the 1st year. Not bad on a $40,000 investment!
You are also making mortgage payments and paying property taxes. However, since the interest you pay on your mortgage and your property taxes are both tax deductible, the governments is essentially sudsidizing your home purchase.

Your rate of return on your home purchase investment is higher than most any other investment you could make!

Pikes Pike Bicentennial Celebration

2006-08-08T15:40:00.000-06:00

July 14 - August 15

Original Pike documents from the National Archives will be on display at the Colorado Springs Pioneers Museum. This will be the first time these documents have been seen in this region since Zebulon Pike was here 200 years ago!

Pikes Peak was first seen by Zebulon Pike on November 15, 1806.

Many activities to celebrate are going on throughout the year.

Visit www.zebulonpike.org for more details.

ARE YOU READY FOR SOME FOOTBALL?

2006-08-03T14:14:00.000-06:00

The first pre-season Broncos football game is just 8 days away!

Are you ready?

The game is at Detroit but will be televised on CBS.

Remember the time difference!

Don't miss a minute!

7:30 p.m. EDT from Ford Field