February 2009

There are 8 blog entries for February 2009.

Sunset Magazine Names Boulder as one the 20 Best "Small Towns."  Surprised?   I did not think so. 

The lists of Best for Boulder just keep on growing.  This time Boulder is being recognized as an earth friendly spot.  Sunset highlights "its smart growth policy is the best in the nation" and that it is the number one biking capital in the country.  So we will add Earth Friendly to the list which already includes best town for entrepreneurs, adventure athletes, area to raise families, most educated population, outdoor mall, and the list goes on. 

When the wise real estate investor said the thre most important items when investing in real estate are location, location, location he must have been looking at a picture of Boulder.

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OBAMA STIMULUS PLAN First time home buyers who purchase a home before 12/1/2009 will receive tax credit of up to 8K.  To qualify as a first time home buyer, the purchaser and the purchaser's spouse may not have owned a home for 3 years prior to the current purchase and it must be a primary home.  The amount for the credit is the lesser of 10% of the purchase price or 8K.  The tax credit does not need to be re-paid unless the home is sold within 3 years of purchase and then the full credit would be due. For more info, please visit www.realtor.org or give me a call! Diversification in our job opportunities is also very positive with the growth of companies such as Crispin Porter, Conoco Phillips, Vestas Wind Systems, Schwab, Creative Foam, GE,…
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Single Family 2007 to 2008

 Prices are in 1,000's

Average Sales Price   Median Sales Price  
2007 2008 Changes 2007 2008 Changes
Boulder 663 656.7 -0.95% Boulder 550.5 539 -2.09%
Broomfield 379 396.4 4.59% Broomfield 304 348.5 14.64%
Louisville 393 390.7 -0.59% Louisville 355 350.3 -1.32%
Lafayette 405 355.4 -12.25% Lafayette 320 311.5 -2.66%
Longmont 280 252 -10.00% Longmont 240 219.9 -8.38%
Superior 410 437.8 6.78% Superior 382.5 401.3 4.92%
Plains 589 525.9 -10.71% Plains 440.5 400 -9.19%
Mountains 457 435.5 -4.70% Mountains 365 355 -2.74%
Erie 351 345.7 -1.51% Erie 300.7 305 1.43%

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The final jury is not in until Obama signs the Stimulus plan but it appears the $15,000 Credit has been trimmed to amendment in the economic stimulus package that was sponsored by Sen. Johnny Isakson. The new revision is an $8,000 credit for first time home buyers. This is still great news.  I can see first time homebuyers using this tax incentive in many ways:

 

1.  First many first time Buyers in essence can use the incentive to pay their mortgage first their year or two in the property.

 

2.  The incentive could be applied to points and pay down the already attractive interest rates to even lower rates.  Can you say rates possibly in the 4% range with $8,000 to apply towards the loan it may be possible.

 

 3.  With today's markets at an all time

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February/2009 

         Real estate market activity across the Northern Colorado and metro Denver market area continues to limp along waiting for the Federal government to throw a lifeline to the national housing market. 

         During the presidential campaign, Barack Obama said:  “You can put lipstick on a pig, but it’s still a pig.”  This “bail-out plan” conceived by two disparate political parties has that same feeling.  Housing markets don’t magically change the path they are on my slapping some lipstick on them.  They are slow moving entities composed of numerous elements i.e. mortgage lenders, appraisers, inspectors, etc.  Not to forget the two key elements of any housing market are buyers and sellers.  What has been missing from the market

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  2930 6th Street, Boulder

Nicest Home In Newlands on an Over Sized Lot

$1,825,000

A savings of $150,000

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Front Porch for enjoying Summer Evenings

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Large Yard, yes in Newlands!

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Roof Top Deck Ready for Outdoor Kitchen

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Gourmet Kitchen with Wine Cooler

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"Best Floorplan we've seen"

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Let the sun shine in

Old World Charm with New World amenities

Top of the line stainless steel appliances. Located on a quiet block of 6th Street in Newlands within blocks of North Boulder Park. This new urbanism 4 square incorporates the finest finishes available. The home is situated on an oversized lot to maximize views and privacy in a beautifully landscaped setting, providing an inviting environment. Oversized 2 car garage.

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The the December Pending Homes Sales index reading today, from the National Association of Realtors, ose 6.3% to 87.7 from an upwardly revised reading of 82.5 in November. The December reading was 2.1% higher than December 2007 when it was 85.9.

Correspondingly NAR reported that the Housing Affordability Index rose 10.9% in December to 158.8, the highest national score on record. The index measures what a median income household can afford where 100 means that the median household can just afford a median priced home with 20% down at today’s average mortgage rates. At this higher level of affordability, median households can afford far more than the median home.

Both of the indicators are show nice movement for the year ahead.  Th efirst indicator show

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Hey everyone we just wanted to let you know we have succesfully worked with the MLS to provide higher resolution photos for all of our searches.  When you get a chance be sure to log on and let us know what you think.  We are also considering adding Sold Data from the MLS.  Please let us know if this would be of value in the future and the tools you would like to see.
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