Does Your Credit Score Affect Your Homeowners Insurance

Our post today is from KCM (Keeping Current Matters) about the connection between your credit score and your homeowners insurance payments.  It's widely debated, but quite commonly practiced for an insurance carrier to use a consumer's credit score to determine their insurance premiums.  Read "Does Your Credit Score Affect Your Homeowners Insurance" from Carrie Van-Brunt Wiley, editor of HomeInsurance.com.  Let me know if your thoughts and if you have any questions regarding your homeowners insurance.

Mortgage Rates ... What Will Happen Now?

Last week Ben Bernanke announced the Fed will not scale back their bond purchase program right now to continue the stimulus package geared at bringing back the national economy.  Mortgage rates have been rising in the past few weeks with the assumption this program was going to wind down.  So what will happen with rates now?  Those at bankrate.com explain 'mortgage rates should fall back -- not massively, but to some extent.' Mortgage professionals say that it doesn't mean home buyers should wait for lower rates.  Read more at Mortgages Fall - Will Fed Keep Them Down.  If you have are considering a move this fall, please contact me.

5 Reasons to Sell Your House Now

From Keeping Current Matters, www.kcmblog.com:

Thinking of Selling Your House? 5 Reasons to Do it Now

by THE KCM CREW on SEPTEMBER 10, 2013 

Many now realize that it is a great time to buy a home. Today, we want to look at why it might also be an opportune time to sell your house. Here are the Top 5 Reasons we believe now may be a perfect time to put your house on the market.

1.) Demand Is High

The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed a 17.2 percent increase in sales over July 2012; sales have remained above year-ago levels for 25 months. There are buyers out there right now and they are serious about purchasing.

2.) Supply Is Beginning to Increase

Total housing inventory last month rose 5.6% to 2.28 million homes for sale. This represents a 5.1-month supply at the current sales pace, compared with 4.3 months in January. Many expect inventory to continue to rise as 3.2 million homeowners escaped the shackles of negative equity in the last 12 months and an additional 1.9 million are expected to enter positive equity in the next 12 months. Selling now while demand is high and before supply increases may garner you your best price.

3.) New Construction Is Coming Back

Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative for many purchasers.

4.) Interest Rates Are Rising

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year mortgage have shot up to 4.57% which represents a jump of more than a full point since the beginning of the year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will continue to climb.

Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

5.) It’s Time to Move On with Your Life

Look at the reason you are thinking about selling and decide whether it is worth waiting. Is the possibility of a few extra dollars more important than being with family; more important than your health; more important than having the freedom to go on with your life the way you think you should?

You already know the answers to the questions we just asked. You have the power to take back control of your situation by putting the house on the market today. The time may have come for you and your family to move on and start living the life you desire. That is what is truly important

Depot Square Groundbreaking

The mixed-use project, Depot Square, at the northeast corner of 30th and Pearl, had their groundbreaking ceremony on August 19th.  The area has been eyed by the city for the past two decades with the final project looking very different from original plans.  As part of the larger Boulder Junction, the new bus station will be a six-bay station located completely underground in the Depot Square development below the parking structure.  Also included will be a 140-room Hyatt Place hotel, 71 permanently affordable apartments and a five-level parking structure built around the historic depot building which will house a restaurant.

A rendering depicts the front of the
Depot Square development in central Boulder,
which will include an underground Regional Transportation District
bus rapid transit station.

Top 10 Reasons To Hire A Real Estate Agent

Top 10 Reasons To Hire A Real Estate Agent

New downtown for Westminster

"This is a bold plan that lines up with the vision for a new downtown that our community has been calling for," said city manager Brent McFall. "At the end of this process, we will have a development opportunity that is unique not just in Colorado but in the country."

That's a bold statement for developing a new downtown in Westminster, but as the towns between Denver and Boulder continue to grow and receive recognition, it will be a welcome development. The area under renovation will be the 105-acre site including the previous Westminster Mall area.   Check out the plans on their website and a map of the plan.  We wish the community luck in this ongoing project and would be happy to help anyone looking for rental property or a new home in Westminster.

House Pricing is Still about Supply and Demand

A recent blog from Keeping Current Matters outlines the national pricing effects based on inventory.  Their research from the National Association of Realtors, the National Housing Trend Report, states:

The recovery is entering a new phase where inventory shortfalls are no longer the driving force behind changes in housing prices in many markets. Larger inventories, especially in the hotter markets that experienced rapid price increases in the spring, are expanding buyers’ choices and helping to moderate price increases.

Read the complete blog at KCM or contact me for information on pricing in the Boulder area market.

Broomfield Job Growth tops in Money Magazine

Money Magazine's recent poll of job growth ranked Broomfield 15th due to it's 9.7 percent job growth between 2010 and 2012.  The poll touted Broomfield-based businesses ranging from start-up organic kitchen cooperatives to frozen yogurt companies.  Craft brewing makes another part of Broomfield's job growth sector as well as The National Archives, who moved their headquarters to the area from Lakewood in 2012.  The CNN Money poll indicated that Broomfield also is an ideal workplace for relocation or new job growth because of its location near the University of Colorado and 16 federal science, research and engineering centers, such as Ball Aerospace.  Read more about Broomfield's growing businesses at CNN Money.

  

Kudos to Lucky's Market

Lucky's Market, now with two locations, has pledged to buy at least 10% of the products from local farms.  We love the commitment to the Boulder community, their customers and providing locally sourced food.  Check out one of their locations, Boulder and now Longmont.

Lucky's Market owners Trish and Bo Sharon pose for a portrait on Tuesday in their new Longmont store at 700 Ken Pratt Blvd. (Matthew Jonas/Times-Call)

New Listing! 725 S. 44th Street

Enter this recently renovated ranch style home and be amazed by its bright open floor plan complete with skylights, a redesigned kitchen with granite counters and stainless steel appliances. You'll find new carpet, vinyl clad windows and custom lighting.  The basement sound room is perfect for musicians. Huge backyard! Hurry as this home will go fast!

725 S. 44th St.

Gorgeous Remodeled Gold Run Condo For Rent

For Rent!  2992 Shadow Creek Drive in the Gold Run Condominiums has been beautifully remodeled with granite countertops, stainless appliances, pergo floor and trim and a jetted tub.  The complex has a  fitness center, pool, tennis courts, sand volleyball court and is conveniently located near Scott Carpenter Park and the 29th Street Mall.  Available early September, call for a showing today!

How To Make Gorgeous Landscape Work For You!

Attractive landscaping is of course wonderful to enjoy as you drive up to your house or from your patio, but did you know that all that work can increase value to your home considerably?  According to landscape economist John Harris, good landscaping can increase your overall property value by up to 28% and can cut time on the market 10% to 15%.  Landscape for your enjoyment, knowing it will add to your homes investment down the road. The essential elements - trees, native plans and outdoor lighting can be improved upon by adding fencing, attractive walkways, retaining walls and terracing.  Read about these great landscaping ideas at House Logic.  

Additional ideas for flowering plants in the shade and walkways that lead to curb appeal should have your yard looking gorgeous.   If this is more than you want to do on your own, let me know and I can recommend a landscape architect for you.

Economic Outlook? All good.

The news lately in Colorado economy has been all positive.  CNBC ranked Colorado a top state for business, placing 7th (up from 8th last year), showing the greatest improvement in the strength of its economy.  The rankings are determined by 51 metrics including business friendliness, cost of doing business and access to capital.  Colorado improved slightly in education and was consistent in technology and innovation, as well as infrastructure and transportation.  Additionally, the Boulder County Business Report recently indicated the Colorado economy continues to grow at magnitude that exceeds previous forecasts.  Sectors seeing the largest growth include construction, professional and business services and leisure and hospitality, according to economist Richard Wobbekind, University of Colorado-Boulder's Leeds School of Business.

As job growth and economy optimism continues in our area, confidence remains in the real estate market.  It is still a good time to buy or sell, please contact me if you'd like information on the Boulder area market.

Economic Confidence Spikes

The Boulder County Business Report indicated a strong survey response on both economic confidence and capital expenditures.  Confidence in the state economy, which spiked from 62.1 to 64.6, is the highest it's been in more than a year and outpaces that of the national economy for the 33rd straight quarter.

Employment and consumer spending continue to rise which adds to the strong real estate market we've been experiencing in the Boulder market.  Although interest rates rose last week, they have paused at the current levels and indications are conflicting as to their direction moving forward.  It's a great time to buy a home or investment property.  Let me know if you'd like to see what's currently on the market.

Shred Event a Success

Thank you to everyone who showed up for our Shred-A-Thon event on Friday.  We look forward to our next event, check on our website under events for Boulder and Chamberlin Investment Group events.  If you have an idea for us, please contact me!

Porch Ideas

Colorado is blessed with sunny days and we love to enjoy our outdoor living spaces.  House Logic provides 5 budget-friendly ideas to remodel your front porch to add value and get more enjoyment from the great outdoors.  From adding architectural elements to creative ideas like painting the floor, you'll be inspired to make a few updates for your enjoyment, or to create curb appeal to sell your home.  Read Five Porch Ideas Under $500, and please let me know if you have some ideas to share!

Renovate or Relocate?

A popular question at one time or another for homeowners, do you fix up your current home, or move into a new one.  As your life changes, your needs from your home can change too.  CNN Money suggest five key questions to ask before making this decision.  The real estate market is hot, as is the remodeling market.  Is selling a realistic option?  You can answer this question by assessing the prospects in the market.  I can help you with this one.  Consider what you need from a new home and how your neighborhood compares to others in the area.  Then determine if renovating is an option and if you could get the home you want from remodeling your current home.  Read the article Renovate or Relocate at CNN Money and contact me if you'd like any advice on your home.

Foothills Mall Redevelopment Passes

Northern Colorado seems to be creating a trend with redevelopment of shopping centers.  First, the 29th Street Mall, plans were recently approved for Longmont's Twin Peaks Mall and now Fort Collins has stepped in passing developer's plans for a $312 million redevelopment of the Foothills Mall.  Approval includes many environmental considerations and guidelines.  From the Coloradoan:  "Their plan to tear down most of the building to add green space and new entertainment options creates a new way to reuse that central land instead of sprawling out over greener pastures.  A new Youth Activity Center will replaces the old facility. Apartments and townhomes placed around the edges of the property will help make for a more walkable community. And, of course, there’s the fact that shopping options will undoubtedly improve." 

We look forward to seeing the redevelopment and growth in our neighbor Northern Colorado town.  

iPad Seminar and Shred-A-Thon

Join us!  Friends and family are free, call for details!

Property Flipping Is Still Profitable

Denver is still a profitable market for property flippers (buying, rehabbing and reselling homes for a profit, usually within 90 days), ranking 25th in the country according to RealtyTrac.  Typical investors gained about a 10% gross profit in the sale of their property.  Flipping homes will continue to be favorable for investors in 2013 as home prices continue to rise.  While buying rental properties still offer a solid rate of return, even buy-and-hold investors typically flip properties periodically to fund their ongoing rental purchases.   The Boulder market is a unique real estate market, but there are still opportunities for rental investment properties and flipping, but like any area, you need to do your homework.

Chamberlin Investment Group specializes in these investment strategies.  If you'd like to learn more about investing, rental market or rehabbing homes for selling, or properties that we currently have, please contact me.  I love working with new and experienced real estate investors.