Author Archive
Foreclosure Verses A Short Sale
March 7th, 2010 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, Market Conditions, REO and HUD Talk, Selling Thoughts
A short sale is when the real estate sale proceeds fall short of the balanced owed on the property’s loan. This happens when the borrower is unable to pay their property’s mortgage. Instead of penalizing the mortgagor, the lender agrees to sell the property at a moderate loss. This is an advantage to both parties as it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. Clients in Boulder ask this all the time and no, this may not release the mortgagor from their deficiency. Neither foreclosure nor a short sale leaves you free and clear.
Definition made simple of foreclosure: when the borrower is legally removed as owner to their home. Ownership is terminated due to late payments (default). The property is sold at a public auction. Proceeds go to payment of the balance. When the bank buys the property at the auction, it is then put on the market.
If it’s right for your situation, a short sale would occur before the home goes to auction. A Realtor lists the home in hopes of selling and presenting an offer to the bank before the sale date. This date can be extended while the home is listed. Two basic scenarios: 1) Home receives an offer and the bank accepts = no foreclosure. 2) Property receives no offers or the bank rejects offers = home goes to auction & foreclosure.
Written by John Vaughan | Discussion: No Comments »
Happy Happy Boulder
February 20th, 2010 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, First Time Buyers, Focus on Boulder
I’m sure you heard the good news by now, Boulder was rated the happiest and healthiest place to live in the United States. This was according to a Gallup Poll and the Colorado Daily reports:
The new massive study of Americans’ attitudes and lifestyles concludes that Boulder is the prime U.S. location for general well-being and quality of life.
“The fact that Boulder is up there makes a lot of sense when you’re looking at what we know of happiness,” said Tim Wadsworth, an assistant professor of sociology at the University of Colorado. “For example, health is huge, and Boulder is known for its high level of health.”
The Gallup-Healthways Well-Being Index asked more than 353,00 Americans in 2009 about their jobs, finances, physical health, emotional state and communities when calculating the rankings. Click here to know more. Read the rest of this entry »
Written by John Vaughan | Discussion: No Comments »
Homebuyer Tax Credit…Extended AND Expanded
February 14th, 2010 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Market Watch, Selling Thoughts
Recently I was showing homebuyers around Boulder Colorado and they made an interesting comment about it being unfortunate they missed the deadline for the tax credit and they don’t qualify because this wasn’t their first home. Just when I thought EVERYONE knew about the homebuyer tax credit! I was quick to correct them and reassure my new clients that they can indeed still benefit from this one-of-a-kind credit. Read more and you too can reap the rewards of homeownership in 2010! It is a buyers market and this is opportunity should not be missed. A fantastic time to buy! The time to buy is now. Ok, I think you get my point. Get the details….
Written by John Vaughan | Discussion: No Comments »
Celebrate New Year’s Eve In Boulder County
December 27th, 2009 Categories: Focus on Boulder, Mountain Living, Relocating
Looking for something to do on New Year’s Eve? Boulder Colorado has everything you desire whether it be ringing in the New Year in style or hanging with your family. The list is long in activities. Feel like dressing up, wearing your best clothes and dancing into the New Year? The Hotel Boulderado might be the place for you. Want to keep it casual? Try Leftover Salmon at the Boulder Theatre – a long standing tradition on this special night. Whatever your preference may be, you won’t find yourself looking for something to do. There is something for everyone on New Year’s Eve in Boulder Colorado. Check it out! Read the rest of this entry »
Written by John Vaughan | Discussion: No Comments »
Why People Love Prospect; Longmont Colorado
November 11th, 2009 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, First Time Buyers, Relocating, Selling Thoughts
Front Range
A newer subdivision along the Front Range of Longmont Colorado that needs your attention is Prospect; a part of Boulder County. After recently hosting an open house at our newest listing, I truly discovered that people love this neighborhood. Curious neighbors and potential homebuyers couldn’t stop the po
sitive comments about wanting to live and loving to live in Prospect Colorado. Find out why… 
Written by John Vaughan | Discussion: 1 Comment »
Louisville Ranked #1 Place To Live In 2009
September 21st, 2009 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, Colorado Round Up, Relocating
Louisville has been ranked THE NUMBER ONE place to live in the United States! And for those of us who live here, we already know why. Previously ranked in the top ten places to live, now Louisville Colorado in Boulder County is at the top of the list for best place to live (for populations under 50,000).
Not only is the local economy here still thriving: there is low crime, great job opportunities, and affordable housing. This is where you want to live so read more to find out why.
Written by John Vaughan | Discussion: No Comments »
Real Estate Investment: Do’s And Don’ts
August 26th, 2009 Categories: Boulder Subdivisions and Neighborhoods, Buyer's Corner, Market Watch, Trends
Investors and first-time homebuyers are often aiming for the same goal: great resale. I witness it all the time; buyers who need a place to live who also want to make money someday. It’s important to know the difference in real estate investment. It’s not always for those of us who need to buy in order to have a place to call home. Yes, you should buy a place in which your investment will grow over the years. However, you need a place that’s livable and suitable to your specific needs. On the other hand, if your angle is profits and returnsand not necessarily a place to live, then you are an investor. This blog with help you either way. The do’s and don’ts of real estate investing in a nutshell. Read the rest of this entry »
Written by John Vaughan | Discussion: No Comments »
First Time Homebuyer Tax Credit Paid In Advance
August 9th, 2009 Categories: Buyer's Corner, Colorado Round Up, First Time Buyers, Market Conditions
If you’re not taking advantage of the first time homebuyer tax credit – you should be! Lower interest rates, high inventory and low sale prices are continuing to make this a buyers real estate market. Not only are we seeing great deals in home sales, but first timers are getting that tax credit we are all hearing about. Buy before December 1st and receive $8,000 at tax time. Luke Mullins from US News explains that the federal first-time homebuyer tax credit was created by Congress this summer to encourage new homebuyers to purchase homes and thereby stimulate housing markets. However, the federal tax credit has been largely ineffective. One of the primary reasons the federal credit hasn’t worked is that the homebuyer doesn’t receive the money until he receives his federal income tax refund – which may be several months after the home is purchased. Read more.
Written by John Vaughan | Discussion: No Comments »
Help! Do I Qualify For Housing Assistance?
July 26th, 2009 Categories: Colorado Round Up, Focus on Boulder, Market Conditions, Selling Thoughts
Many people all over the country, as well as locally in Boulder and Denver, are wondering if they qualify for mortgage help under the Obama administration plan. Homeowners may be in one of two scenarios. 
For instance, many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates becasuse the value of their home has decreased. Others are unable to make their monthly payments because their interest rate has increased or they have less income. The administration’s housing plan provides two types of assistance that are designed to help make mortgages more affordable for up to nine million homeowners. Find out what the assistance options are and how to qualify.
Written by John Vaughan | Discussion: No Comments »
Important Mortgage Regulation Updates
July 16th, 2009 Categories: Buyer's Corner, First Time Buyers, Market Watch, Selling Thoughts
This is important whether you’re a home buyer, seller, or agent; on July 30th 2009, the new Housing and Economic Recovery Act (HERA) laws will go into effect. And Wells Fargo Bank states that this could impact your closing date, so read on.
Written by John Vaughan | Discussion: 3 Comments »
