Author Archive
Winter in Boulder is anything but Cold
January 20th, 2010 Categories: Colorado Round Up, Focus on Boulder
I grew up in Chicago and when winter came rolling around it was time for one thing……staying warm. Here in Boulder, things are a bit different. With a much more mild winter climate, Boulder offers plenty of winter activities to keep you active and warm.
Countless groups and organizations offer winter hikes and activites. Such as the Flatirons Ski club, which will take you all over the state to ski Colorado. Both nordic and downhill skiing are available. What a great way to get outside and meet new people.
One of my personal favorite Clubs is known as FIDOS or Friends Interested in Dogs and Open Space. If you have a dog, love the outdoors and enjoy meeting people in your community this is a great club for you. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
A Different Look at Boulder
July 1st, 2009 Categories: Focus on Boulder
To get a quirky irreverent look at Downtown Boulder and Denver Banjo Billies offers really fun one of a kind guided bus tours. But this isn’t any boring ordinary coach bus, you are riding in style. Each bus is made to look like a hillbilly shack on wheels. Inside the open air buses patrons will find disco balls and have their choice of seating which may be a couch, a recliner, or even a saddle! Along the ride all kinds of stories of Boulder’s past are revealed through tales of folklore, history, and ghosts. No two tours are the same… in fact the tour guides customize the ride to what the riders say they want to hear about, so when you go be sure to speak up and have fun. Banjo Billies offers tours year round that last about two hours each. It is a great affordable way to relax but still have fun with friends, family, Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
For Sale by Owner – Buyers Beware
June 11th, 2009 Categories: Buyer's Corner, First Time Buyers, Home Inspections and Maintenance, Real Estate Tales, Selling Thoughts
I recently had the unpleasant experience of dealing with a “For Sale by Owner” seller. My buyer decided that we should look at a house that was listed in Longmont, Colorado. The Sellers representing themselves, paid a fee to have an agent enter the listin
g on the MLS system. After viewing this home, my buyer decided she wanted to make an offer since the home appeared to be what she was looking for. I cringed knowing that I would now be interacting directly with the Seller, although this shouldn’t be an issue, it was. I prepared the offer and submitted it to the Sellers, who then had tons of questions and their own opinions of Real Estate contracts and Real Estate Law. After several long phone conversations, I was able to educate these Sellers about the Contract and Contract dates and deadlines. We finally went under contract and my buyer was ready to perform her due diligence by getting the home inspection. As it turns out, this home had inspection issues, and had not been properly maintained. We submitted an Inspection Notice to the Sellers to correct many deficiencies. We also asked for documentation relating to radon, which the seller had in their possession. The Sellers refused to give us the radon documentation and refused to disclose the radon reading. They also refused to correct most of the inspection items, claiming there were no problems and ignored the recommendations of our licensed Inspector. There were electrical issues, furnace problems, the roof had hail damage and there was much pet hair in the ducts and behind the appliances that needed cleaning. The Sellers refused to correct the inspection issues which convinced my buyer that she could not trust these people because they were not truthful and refused to disclose any adverse material facts about the home, such as the radon. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
Q and A on The New Homebuyer Tax Credit
March 27th, 2009 Categories: Buyer's Corner, First Time Buyers, Trends
Is the tax credit $8000…… or $7500? It depends on when you bought your new home, of course. Would you rather have to pay back $7500, or not pay back $8000? If you are eligible for the $8000 you don’t have to pay back, do you have to wait until 2010, or can you get it in 2009? So many questions, so hard to get real answers.
The new tax credit for home buyers is a sweet deal, if anyone can actually figure it out. Leave it to Congress to put the language in such fine print that most homebuyers have to hire an expert to understand it.
A quote by Tom Herman, “If you meet certain qualifications, such as buying a home from Jan. 1 through Nov. 30 this year, you may be eligible for a tax credit of as much as $8,000. You also have a choice of claiming the credit on your federal income-tax return for 2008 or 2009. A credit is typically more valuable than a deduction, since it eliminates your taxes on a dollar-for-dollar basis — and in this case, you may get it even if you don’t owe any taxes.”
The following questions and answers were published in the Wall Street Journal recently and for those of you that didn’t see the article, I decided to post them here, since this is a hot topic. These questions and answers are taken directly from the article which was published, March 18, 2009, “Cracking a Valuable Homebuyer Credit” by Tom Herman. I am not a tax expert but merely sharing this information with you, please seek tax advise from a tax expert.
Here are answers from IRS officials and tax advisers to some questions about the credit. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
Avoid Foreclosure and Foreclosure Scams
March 26th, 2009 Categories: Buyer's Corner, REO and HUD Talk, Trends
Did you know that foreclosure is not the only option to help homeowners struggling to make payments. The Federal Trade Commission outlines the following options:
- Reinstatement – the borrower pays the entire past due balance plus late fees and penalties by an agreed upon date.
- Repayment Plan – the lender gives the borrower a fixed amount of time to repay past due payments by adding a portion to the regular payments.
- Forbearance – mortgage payments are reduced or suspended for an agreed upon period of time. At the end of that time, the borrower resumes regular payments plus a lump sum or partial payments for a number of months to bring the loan current.
- Loan Modification – the borrower and lender agree to permanently change one or more terms of the mortgage contract to make payments more manageable. Modifications could include lowering the interest rate, extending the term of the loan, or adding missed payments to the principal. Some lenders may forgive a portion of the debt under the Mortgage Forgiveness Debt Relief Act of 2007. Check with a tax expert regarding reporting or excluding the income.
- Sale - the homeowner sells the property and pays off the debt. Some lenders may postpone foreclosure if there’s a pending sales contract or if they know the home is being listed for sale.
- Short Sale – the lender allows a property to be sold for less than the existing loan balance. A short sale is really a form of pre-foreclosure and occurs when the lien holder agrees to accept less than the loan amount to avoid the foreclosure process.
- Deed-in-Lieu – with the lenders agreement the homeowner voluntarily transfers property title to the lender in exchange for cancellation of the remainder of the debt. Although the homeowner loses the home and equity, this process is less damaging to the borrower’s credit than a foreclosure.
Written by Ro Troia | Discussion: 2 Comments »
Adding Pizzaz May Help Sell Your Home
March 24th, 2009 Categories: Selling Thoughts, Trends
Do you think that color can cost you a sale? Have you heard that realtor beige or off-white walls sells a home? Well think again, a touch of color may spark a buyers’ interest. I know, beige and off-white are neutral, but color either on walls or accessories can boost positive responses from buyers. Even in Boulder, Colorado, where the real estate market is better than other areas of the country, sellers should think about using color to enhance a listing.
Color can change how we feel, for instances, warm colors will exude a feeling of coziness and positive reactions. When you reach for a bucket of white paint for your walls, think ghost or invisible because that’s what white will do, make a room disappear, not really, but it will become invisible. Buyers cannot project themselves in a space that’s white, it’s just too sterile. Did you know that in Asian cultures white is a symbol of death, dear god, that’s not what we need to try to sell a listing. Pastels may have the same effect since they mostly have a white base. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
CHFA has New Home Loan Programs
March 12th, 2009 Categories: Buyer's Corner, Colorado Round Up, First Time Buyers, Market Watch
What is CHFA? It stands for the Colorado Housing and Finance Authority and is based in Denver, Co. CHFA makes loans possible for low to moderate income homebuyers with lower credit scores.
CHFA’s newest programs are called the HomeOpener and HomeOpener Plus loan programs. These programs are available to both first time homebuyers and those buyers that have purchased one home already. Homebuyers must attend the homebuyer education course offered through the Authority. The 30 year, fixed rate loans offer down payment assistance and closing cost assistance through CHFA. For a homebuyer to qualify, their credit score must be a minimum of 580 and a maximum debt to income ratio (DTI) of 45%. Read the rest of this entry »
Written by Ro Troia | Discussion: No Comments »
Are You Water-Wise?
March 11th, 2009 Categories: Colorado Round Up, Focus on Boulder
Generally, I receive tons of junk mail and end up tossing or shredding most of it. This month with my water bill was an informative pamphlet about being water-wise. I thought this would be good information to share with those of you that didn’t receive this good piece of junk mail.
There are several ways we can be water-wise:
- You can learn how to save water in your yard this summer. Since Spring planting season is coming up, the city of Boulder, Colorado, in partnership with the Center for ReSource Conservation (CRC) is offering numerous programs and resources that will help conserve water in your lawn and garden. Beginning March 2, The CRC will offer garden supplies, trees, drip irrigation kits, compost, mulch, and other items that help reduce water consumption. For more information on this program or products contact the CRC at: www.ConservationCenter.org or you can call 303-999-3820 x217. Supplies seem to be limited so contact soon. Read the rest of this entry »
Written by Ro Troia | Discussion: 4 Comments »
Foreclosure Prevention Plan
March 6th, 2009 Categories: Market Watch
The Obama administration released guidelines which will allow lenders to begin modifications to eligible loans under the “Homeowner Affordability and Stability Plan.” The Foreclosure Prevention plan is estimated to help seven to nine million homeowners make their loans affordable and prevent foreclosure. 
Here’s an outline of these guidelines from the Department of Treasury: click this link for the summary
According to the U.S. Department of Treasury, “The Home Affordable Refinance Program” will be available to 4 to 5 millon people who have solid payment history on a mortgage owned by Fannie Mae or Freddie Mac. These are homeowners who could not refinance because they owed more than 80% of the home value. Many homeowners will now be able to refinance and take advantage of the low interest rates and turn a variable rate mortgage to a 30 year fixed. Documentation for these loans is suppose to be less cumbersome and not cost an arm and a leg to process. This program ends June of 2010. Read the rest of this entry »
Written by Ro Troia | Discussion: 1 Comment »
The New First Time Home Buyer Tax Credit
February 22nd, 2009 Categories: Buyer's Corner, First Time Buyers
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.
I have put together a matrix (click on the link at the end of this post) that compares the old first time buyer tax credit of 2008 with the revised credit for home purchases after January 1, 2009 and before December 1, 2009. Some of the highlights are:
- Maximum credit allowed is $8000
- Purchasers who utilize revenue bond financing can use the credit
- No repayment for purchases between January 1 and December 1, 2009
- If the home is sold within 3 years of the purchase, the entire amount of the credit is recaptured with the sale. This applies only to homes purchased in 2009.
Written by Ro Troia | Discussion: No Comments »
