New Listing! 393 Montezuma Street

WOW, stop searching, you have found your new home! The nicest Ryland Cabernet model with finished basement on the largest walkout lot in the subdivision.  Backs to rural land and HOA trail, this 5 bedroom, 4 bathroom beautifully finished 2,736 square foot home features gourmet kitchen with slab granite counters, center island, stainless appliances, & hardwood floors. The large, open floor plan has soaring ceilings and tall windows, features gas fireplace in family room, and a main floor study. The finished walkout basement includes huge rec. room and kitchenette for mother-in-law retreat.  Call now for a showing!

393 Montezuma Street

New North Boulder Neighborhood

Land can be scarce in Boulder, so when Boulder County moved their fire-training center from Lee Hill to a space near the Boulder Reservoir, Allison Management and Thistle Communities jumped at the opportunity to build a new neighborhood.  The area, just south of Broadway on Lee Hill, will contain 31 single family homes ranging from 1,200 to 2,360 square feet and will be generally priced from $400,000-$600,000.  The builders are leaning towards making six of the homes comply with Boulder's affordable housing program instead of building other affordable unites offsite or paying cash in lieu. Coburn Development will be their design partner, bringing a nice mix of new design to that area. Groundbreaking should begin in March.  If you would like additional information on these, or other new construction, contact me!

Considering Buying A Home? Look at COST not just Price

Keeping Current Matters provides real estate agents with national industry information and statistics that can be valuable in helping to analyze our local market. Their latest blog post offers an interesting perspective on what the cost would be if you waited, even a year, to buy a home. Read more:

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.

Last month, the Mortgage Bankers Association(MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about one full percentage over the next twelve months. We also know that many experts are calling for home prices to also increase over the next year.

What Does This Mean to a Buyer?
Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 even if home prices don’t increase:

Where Real Estate Prices are Headed

The Keeping Current Matters reports from a Pulsenomics survey where real estate prices are headed over the next five years:

"Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number."

The results of their latest survey

The latest survey was released last week. Here are the results:

• Home values will appreciate by 4.3% in 2014.
• The average annual appreciation will be 4.2% over the next 5 years
• The cumulative appreciation will be 28% by 2018.
• Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 16.8% by 2018.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

Denver 's Proactive Approach Proves Successful

Denver weathered the economic recession better than most in the country according to a study released from the Pew Charitable Trust.  Denver's tax base relies primarily on sales and income taxes and less on property taxes, the area felt the economic pain sooner, but recovered quicker.  Cities that relied on property tax didn't feel the economic strain until more than a year later, but at the end of 2011, two-thirds of those cities have yet to recover.  With other tactics like cutting spending, a hiring freeze and encouraging early retirement, Denver positioned itself for long term growth. Read more at the Denver Post.

Aspen Real Estate Sales

Land Title Guarantee Company reports statistics on real estate sales across Colorado, it's our source for the area stats that we post on our website, Chamberlin Investment Group.  In August, they reported that

the Aspen area real estate sales were up 31% over last year, with 162 transactions recorded (compared to just 60 in August 2012).  However, the average sales price and median sales price for single-family-homes were both down.  How is this important to you?  First of all, I've been reporting all year that the real estate market has been strong and increasing from last year.  All across Colorado, home sales are rebounding.  This is  relevant if you have plans to either buy or sell.  Secondly, investing in real estate continues to be a good financial decision.  Adding a second home, rental property or contributing to a real estate investment trust could be a wise portfolio addition before the end of 2013.  If you'd like more information on mountain properties, or other real estate investment options, please contact me.

Why You Should Sell Now

Why You Should Sell Your House Now

Many now realize that it is a great time to buy a home.  It might also be an opportune time to sell your house.  Here are the five 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 Reports by the National Association of Realtors (NAR) show a double digit percent increase in sales year-over year; sales have remained above last year’s levels for over 25 months.  There are buyers out there right now and they are serious about purchasing.

2. Supply Is Beginning to Increase

Total housing inventory is again approaching historic norms of a 5 month supply 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 Will Again Rise

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year.  The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by this time next year.

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.

reprinted from Keeping Current Matters

New Listing - 745 Wildrose, Louisville

745 Wildrose Way

Louisville, CO

4 Bedroom, 4 Bathroom

3,112 square feet

Map

This dramatic 2-story home is complete with a gourmet kitchen featuring a center island, slab granite counters and stainless Amana appliances. Fully finished basement includes a large education room/office, 4th bedroom, recreation room, and large full bath. This home has been lovingly cared for by the owner since 1995 and includes new paint inside and out. Rich looking, stained trim and six- panel doors. An outdoor oasis awaits in back with a spacious mature yard, large deck and hot tub. Close to schools and open space too! 

You Need A Professional to Buy or Sell A Home

The latest blog post from KCM (Keeping Current Matters) accurately explains the advantages of hiring an experienced real estate agent to navigate the process of buying or selling property:

754 Pope

Many people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s market, we believe this is an easy decision: you need an experienced professional!

You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer ready, willing and able to pay fair market value for your home at a time when lending standards are so stringent is not an easy task. Finding reasonable financing can also be tricky when interest rates are volatile like they have been over the last several months.

You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.

Bottom Line

We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

Reprinted from the KCM blog

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!