Well - in Boulder Colorado  it could be!  With over 40 dispensories, growers, in home care services and herbal medicine shops just in Boulder alone with ” medical marijuana” names such as Bubbua Kush or Blue Dream.   Nope!   In fact Rockygrass  isn’t something you plant or smoke! It’s a bluegrass festival in Lyons Colorado that happens every year in July. Lyons is located 15 miles north of Boulder Colorado and the festival is held at Planet Bluegrass Ranch on Hwy 35 just northwest of Lyons.  Just 25 minutes from Boulder and 1 hour from either Denver or Ft. Collins it’s known as one of the best bluegrass festivals around the country.   Three Days of sun, music, river wading and floating, good food, camping, and exquisite scenery!   Check out this years music lineup! – Doc Watson, Sam Bush, Tim O’Brien, and Tony Rice, just to mention a few.  Read on for more info

If you are planning to visit Boulder Colorado during the summer, make sure you check out the Rockygrass lineup of musicians for that year and buy your ticket(s) in advance (they go on sale in Jan or Feb) because they sell out quickly.  My family visited me the summer of 2008 and we went to all 3 days of the Rockygrass  festival.  Not only was the music fantastic, but during the hot mid day sun we spent hours in the North St. Vrain river cooling off.  No matter where you are sitting in the park, you have good views and the music just surrounds you!   If you need a break you can visit the small quarry town of Lyons where they have restarants and antinque stores.  You could schedule a morning mountain biking at Hall Ranch or touring Rocky Mountain National Park, or take a ride into Estes Park and have lunch.    There is camping at Planet Bluegrass Ranch and there is also local lodging close by in Boulder or Longmont.   I found that my Verizon cell phone worked well, but some other service providers were a little spotty.  As much as you love your dog……please leave Spot at home, there are way to many young, old, dancing, singing people and children around – so NO DOGS.    I found it easy to buy my tickets online at www.shopbluegrass.com or call them at 800-624-2422.  Have a great summer in Boulder!  Call or email the Troia Team if you are making a visit to Boulder any time soon.  We offer free tours of the area!     Lyons Colorado is a nice affordable alternative to Boulder and close enough to be able to participate in the Boulder Fun!

For the pick of Boulder Colorado’s finest grown produce there is only one place to be….  If you are looking for live music outside, I know where you should go…If you are interested in tasting some local flavors such as tamales and honey, the destination is clear….. Boulder’s Farmers’ Market.  The Boulder County Farmers’ Markets take pride in bringing you locally grownvegetables, meats, fruits, flowers, plants, gourmet cheeses and wines sold by the farmers that produce them. While you’re purchasing your fresh vegetables and fruits (many of them organically grown) enjoy a tasty pastry from a local bakery or a meal created by local chefs.       There was a time when city grocery stores featured locally grown agricultural products. But as a demand for fruit and vegetable production increased, farms grew larger in size and fewer in numbers. Many growers decided to enter the wholesale business and abandon their seemingly less profitable retail stores.  In the Autumn of 1986, a small group of local farmers decided to organize a formal Farmer’s Market to be located in downtown Boulder, Colorado.  The site had to be permanent, highly visible, attractive, accessible and shaded. Boulder’s Central Park, located in the heart of the city, was chosen and the Boulder County Farmers’ Market was off and running!!!!!!

Having been there myself, more than a few times, I can suggest some of the vendors you must visit.  The local honey goes unrivaled.  There is a bread vendor, who has the best loaf of olive wheat bread you will ever taste.  Enjoy a nice lunch from a number of vendors while you listen to a local musician play music for you.  Of course if you want to escape the crowds, a local restaurant called the Boulder Dushanbe Teahouse is a few steps away.  There is a yogurt vendor who has some of the freshest varieties of delicious flavors.  Of course my back yard is full of flowers and vegetables that I picked up at the market.  These are just a few of my favorites.  For a list of all your favorite vendors click here.

Near the corner of Arapahoe and Broadway Central Park is an ideal location.  Sunshine shade and the Boulder Creek will be there waiting for you.  Many people bring their children and dogs to just chill in the park and enjoy the day.  The Saturday market is a great family environment, and will be open to the public from 8 in the morning to 2 p.m. April 3-November 6.  For a more mature scene head there on Wednesday nights.  There is beer being served and fewer kids running about.  That market is open Wednesday nights from 4 p.m. to 8 p.m. May 5-October 6.

If you are interested in a more local scene with “roots” in our city, don’t head to Safeway or King Soopers, head to the Boulder County Farmers’ Market.  I will see you there……

The Coldwell Banker Story.  I’ve been on a lot of listing appointments lately with spring arriving here in Boulder Colorado and included in the listing presentation are reasons why to choose Coldwell Banker.  I, myself even had to ponder the reasons why to choose one brokerage company over another when becoming a real estate agent.   Upon intensive research and endless appointments with recruiting office managers, I went with Coldwell Banker Residential Brokerage and The Troia Team.  Here’s why I did and why you should as well.

The history of our residential brokerage is fascinating and proves this company comes with experience – over 104 years old in fact!  Yes, legacy has it that the origination of Coldwell Banker began to evolve in 1906 after the devestating earth quake and fire.  Saddened economic times resulted and contemptuous business practices emerged.  Two men sought to change the way companies were operating by creating a real estate firm that was based on the principles of honesty, integrity, and professionalism.  Our accomplishments to this day are proof that we are the most successful and influential brokerage.  Check out the video.

QUESTION: How did we get our name?

ANSWER: The two men who founded our company were Colbert Coldwell and Benjamin Banker.

Why should you list with us?  What sets us apart?

The tangibles: 1) Reality Check from ColdwellBanker.com, Previews (homes over $700,000), Colorado Homes On Demand, and CBAgentInfo (agent’s source for all needed links and resources).

We are ahead of the times and always updating our marketing strategies.  See us on YouTube, social networks such as Twitter, Facebook, and MySpace.

Our direct marketing campaign includes CB direct connect which is a monthly promotional email.  Your new listing or open house can also be distributed.

The Troia Team utilizes Proquest which is the 1-800 number on the top of your yard sign.  It allows potential buyers to call on the sign and gather more information regarding the home.  They are immediately contacted by a Troia Team Realtor, making for the quick sale of your home.

Let’s not forget about Leadrouter.  When I put your home in the multiple listing service, it also goes to websites such as coloproperty.com, Realtor.com, Zillow.  Buyers are able to inquire about a listing through the website and again, they are promptly contacted by an agent.

….300 Websites and COUNTING!!!!

Most importantly and as our history demonstrates, our company follows the values you must have in a Realtor: Integrity, Honesty, and Professionalism.  Contact me today for a free market analysis and subscribe to our website for up to date news.

Here ya go readers and potential buyers.  Another update on the mortgage rates here in Boulder Colorado.  Not much has changed but a few numbers have.  Please check them out.

1) 30 yr is at 5.2 with no points and 5% even with 1 point

2) FHA 30 yr is 5.238 with no points and 5.138% with 1 point.

Also, I would like to inform you all about a unique program that only Coldwell Banker is offering.  It is a Pre-Purchase Rate Protection (PPRP).  It allows a buyer to lock a rate without identifying a property, and is good for a 90 day lock.  Every Coldwell Banker Mortgage customer gets the opportunity to enroll in the (PPRP) as soon as they receive a mortgage pre-approval decision from Coldwell Banker Mortgage.

So click here and lock in your rate today with a professional mortgage broker.

This is more than important information to know if you are buying, selling or renovating real estate in Boulder County and anywhere in Colorado.  As many of you know, if you sell or rent a home built before 1978, you must disclose that your home may contain paint that contains lead.  Not only is there a disclosure form to sign, but a pamphlet that highlights the paint’s risks, especially to children.  But did you also know that a new law will go into effect this month?  Read on to obtain this essential piece of knowledge.

Here’s the law according to the EPA, which signed a new regulation regarding the renovation of child-occupied buildings built before 1978 on April 22, 2008. The rule becomes effective April 22, 2010. Under the rule, beginning in April 2010, contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and must follow specific work practices to prevent lead contamination. EPA’s RRP rule impacts many construction trades, including general contractors and special trade contractors, painters, plumbers, carpenters and electricians. Activities performed by all of these trades can disturb lead-based paint and have the potential to create hazardous lead dust. For most individuals, eight hours of training is required. However, individuals who have successfully completed renovation courses developed by HUD or EPA, or an abatement worker or supervisor course accredited by EPA or an authorized State or Tribal program, can become certified renovators by taking a four hour EPA-accredited renovator refresher training.

Before hiring a contractor, consider the following before performing the renovation to your home built before 1978:

     1.  Safety first.  If any contractor is pushing you to do upgrades prior to the rule change to cut costs, they probably would not have been safe to begin with.
     2.  Verify the contractor is licensed, bonded and insured.
     3.  Has the contractor received the lead paint certification?  If not, find out what their safety practices are to avoid contamination and when they are getting certified.
     4.  Contact references from previous work.  If no references available, move on.
     5.  Get at least 3 detailed bids to compare costs of different contractors.  Pay attention especially to the labor costs as that is where the fees will increase due to the new rules.
     6.  If subcontractors are required for the job, will there always be at least 1 certified lead paint contractor on site?
     7.  Referrals of qualified contractors from family, friends and co-workers is a great place to start.  Ask The Troia Team, we can help.  And if you would like up to date real estate news, subscribe to our website.

Here is the first of many to come.  The Troia team at Coldwell Banker will have frequent market updates for your convenience.  So please visit our blog frequently and stay in the loop. 

1) 30 year fixed conventional loan is at 5.22% with 0 points.  5% with 1 point

2) FHA 30 fixed is at 5.239% with 0 points.  5.149% with one point

For more info or to speak to a professional motgage lender please click here. 

Rates are Climbing

The cycle of mortgage rates tend to consistenly rise slowly with large unpredictable and infrequent drops occuring occassionally.  Most likely, tomorrow’s rate will cost you more than today’s.  So lock in a loan today and you will save tomorrow.  Pick up the phone and call a qualified professional real estate agent with the Troia Team and lets find you a home.

Cities offer us bright lights, night life and excitement.  All things you expect from the city.  However, not all of us want that twenty four hours a day seven days a week.  For those of us who need to live near the city but not in it, the surrounding areas are the answer.  The Denver metropolitan area consistently ranks as one of the most desirable areas to live in the United States. Of course all our cities offer easy access to the 28 major resorts areas found in the nearby Rocky Mountains, which offers skiing, hiking, rafting, and camping, as well as beautiful and breathtaking scenic wonders… most are well within a two hour drive. Below are a few of Denver’s cities and reasons why you and your family might want to move there.

Thornton: In the early 1950’s a 7 million dollar 5,000 home project was out into place.  Named after Dan Thornton, then current senator, the city was created.  Close to Denver, an easy drive to the Rocky Mountains, access to parks, museums, professional sports teams and shopping… We like to think that the City of Thornton has it all.  As you’ll discover, Thornton is a good place to visit and an even better place to live!  Within ten minutes  North of downtown Denver, Thornton is very close and convenient for city visits or going to work.  As in most cities in Colorado, Thorntonoffers activities and areas to stay active.  Thornton has aggressively pursued recreation programs with nearly 1,000 acres of land developed or designated for public parks. The numerous lighted tennis courts, athletic fields, indoor and outdoor swimming pools, recreation centers and gymnasiums offer recreation opportunities for people of all ages and activity levels.  Click here for more on Thornton’s demographics.

Westminster: On your way out of Denver on highway 36, while you head Northwest, keep an eye out for Westminster.  Only about fifteen minutes away from downtown, Westminster has plenty to offer. This city is a growing suburban community that offers a wide choice of housing, excellent schools, and public facilities. The best features in Westminster include the hundreds of recreational activities. If history is your interest, take a step back in time and visit Westminster as it was 100 years ago by visiting the Bowles House Museum.  With an age over 100 years there is plenty of history to take in.  As for getting outdoors, here is some info…Westminster residents love the outdoors and have 2,900 acres of parks to enjoy. A total of 54 parks are located throughout the city, and each Westminster resident has a park within a half mile of their home. This includes our four-legged friends who can romp at the city’s 300-acre Off-Leash Dog Park located at 105th Avenue and Simms Street or our newest dog park located at the Big Dry Creek Park.  There are also plenty of sports to play and recreational activities to dive into.  The Department of Parks, Recreation and Libraries offers a wide variety of activities and programs including adult activities, adult arts and crafts, adult sports, swim lessons and aquatics classes, fitness and wellness programs, child/teen arts & crafts and activities, preschool and tot, youth/teen sports and classes for our mature adult population.  For more information on Westminsters schools click here.

Wheat Ridge: Wheat Ridge was founded as a community in 1859. It was a farming community that supported Denver and nearby mining communities, and became the largest producer of carnations worldwide until the mid-20th century. Wheat Ridge did not incorporate until August 1969, when it was faced with annexation by surrounding cities. This city is one of my personal favorites.  Very close to the city and affordable homes make this an ideal location for first time home buyers taking advantage of the first time home buyer credit. With a strong motivated local government Wheat Ridge is planning for the future.  Already gearing to adopt and change in ways that will be best for its’ residents, Wheat Ridge has designed the Repositioning Wheat Ridge report to help address future issues.  Part of the report is the “Wheat Ridge 2020, a public, non-profit corporation, created to facilitate and encourage appropriate development in Wheat Ridge.” This sounds like a city I can trust to develop well in the future.  Just one more reason Wheat Ridge stands out from other cities.  For more information of Wheat Ridge’s demographics, click here.

So whether you are relocating, selling, looking to upgrade, want to get out of or get closer to the city there is a place in Denver’s metropolitan areas for you.  For a list of all the cities you may want to move to, near Denver, click here.

Yes, we can help! Short sales are increasingly common as new government acts have passed to find alternatives to foreclosures.  You are not alone.  The economy is tough in Boulder Colorado and elsewhere;  people are losing jobs and it’s been a difficult time in real estate as property values have dropped below mortgages owed on homes.  This makes it difficult to refinance and when it’s hard to pay on that mortgage, you find yourself in a dire situation.  Often times if you qualify, a short sale is a better solution that foreclosing.  It’s not as hurtful to your credit and the bank is willing to accept a payment lower that the borrowed amount in order to avoid foreclosure costs.  The Troia Team has written many blogs on the topic so if you feel you are a candidate for a short sale, let us know.  We can help.   Because we have covered the positives to a short sale and explained the process in detail, I wanted to use this blog to provide examples of short sale hardship letters.  These are necessary to submit to a lender when simultaneously submitting the other necessary documents that go along with a short sale request to the bank.  Click here for hardship letter examples.

EXAMPLE ONE:

To Whom It May Concern:

This letter is a explanation of our financial hardship for short sale documentation.

At the time I bought a home, my wife and I were full time employees of long standing companies.  Upon the harsh economic times, lay offs were inevitable and my wife and I both found ourselves laid off.  Not to mention, a baby on the way.  We were unprepared for this unknown fate and as a result, have not been able to make our mortgage payments.

The current market conditions resulted in an under appraised home.  We have both been laid off for almost a year, thus depleting our savings.  Although our efforts to find new jobs has been a full time job in itself, no jobs have become available in this area.  I finally received a  job offer in another state, but the pay is much less and my wife is staying home with our new baby.

I feel certain that a short sale is the best option for us to get out of this situation and hopefully move forward with our lives.

Thank you in advance for allowing us this opportunity to short sale on our home.

Please do not hesitate to contact me and our Realtor who is assisting us in this entire transaction.

Sincerely,

EXAMPLE TWO:

We are writing this letter regarding our property at 123 Martin Road.  Even with the willingness from Bank of America to work with us, we have found ourselves unable to make any more mortgage payments and are behind two months already.  We were a two income family until my husband suffered many medical conditions due to the laborous conditions of his job.  His back ailments have left him unable to work and I can not make enough to support the monthly mortgage payments along with the new medical bills we’ve encountered.  Not to mention our other bills are behind and our bank accounts depleted.

Please accept this short sale offer on account that we are experiencing financial hardship and medical issues.  We would like to downsize to a smaller home near family and rent until our conditions approve.

We have tried every possible avenue to cure our struggles and afford our home, but we are not able to maintain payments at this time.  Please help us avoid foreclosure and accept the attached offer presented by our Realtor.

Regards,

…..Yes, this is a hard action to take and often a short sale is a last resort before foreclosure. The Troia Team of Boulder Colorado is an experienced real estate team and we care about your outcome.  Let us assist you with what we do best.  Contact me for further information.

But worth your while, I guarantee you.  The Troia Team from Boulder Colorado is writing so much on the subject lately because IT IS the subject lately.  Real estate short sales are everywhere and the numerous listings are partially due to the Home Affordable Foreclosure Alternatives Program; go ahead, call it HAFA. 

The information is non-ending.  You can’t write enough about short sales.  As we discussed before, having a knowledgeable Realtor is most important.  One who can walk you through the process.  If I were going through a short sale, here’s what I would want to know from my real estate agent.

What’s first? As a seller, you need to thumb through all those mortgage papers and give your agent the most information possible.  Lender’s name, number, address and your account number.  Social security card number, payment history, and recent balance statement/bill are also helpful.  It’s not always easy to contact the appropriate person at the bank but it’s not impossible.  One of the other pertinent pieces of information I learned at a short sale class is BE NICE.  Courtesy will get you a long way.  Many of the employees working on short sales at the bank are overworked and underpaid.  Ticking them off will get you nowhere fast.

A letter of authorization is necessary so create it before the lender asks.  Your real estate agent will help you write a letter giving the lender permission to talk with those specific interested parties about your loan.  Include your property address, loan reference number, your name, the date, and your agent’s name and contact information.

Conduct a preliminary net sheet or estimated closing statement.  Again, your agent can help and so can the lawyer (which I always advise one).  This will include: 1) sale price approximation, 2) unpaid loan balances, 3) title costs, lawyer fees, lender fees, 4) late fees, and 5) real estate commissions.

The hardship letter.  Be expecting a blog with sample letters.  It’s exactly how it sounds.  Explain why you need a short sale.  What is happening to create financial distress in your life.  Divorce?  Job loss?  BE HONEST!  Dishonesty may get you rejected by the lender and besides, it’s bad karma.

Proof of income and assets.  Again, BE HONEST.  Name all your assets, saving accounts, money market accounts, 401k, any other stocks/bonds, other real estate, income and copies of bank statements.  It’s possible you may not qualify for a short sale if you have enough assets to cover unpaid debt.

Next, your comparative market analysis prepared by your real estate agent which includes active listings on the market, pending sales and solds from the last six months.

Lastly, the lender loves to see the purchase agreement (offer) and listing contract.  You’ll have a listing contract with your real estate agent when you begin and after your home has been on the market, a buyer (or several) will come along and make offers.  Accept one and have it ready to submit with the above information.  Lenders usually try to renegotiate offers and commissions and refuse to pay for inspection items.

It may seem like a lot of documentation but that is why expertise representation is so essential.  The Troia Team can help with these forms and the entire short sale process.  Register with our site and receive updated real estate news and let me know if you have any questions regarding short sales!

What is it when a seller’s lender agrees to accept a lower amount for a property than is owed? 

Yes…a short sale. 

This is big real estate news in Boulder Colorado and throughout the country.  If the owner of a home has an outstanding loan/lien that is greater than the value of the home and they are in financial distress (late on mortgage payments), then a short sale is an option other than foreclosure.  Click here to read all about  it.

What you should know…

Finding a Realtor, like the Troia Team, who specializes in the short sale process is crucial.    A short sale is not the best option for everyone.  Also, there is a stack of required documentation and forms, such as the financial hardship letter and financial statement, from the lender.  Realtors should be certified in listing short sales (as we are) because it can be complex as well as emotional.

Getting an answer from the bank can take awhile depending on who the lender is and how far along they are in the process.  Sometimes they will hold several offers for months, then say no (this would be a worse case scenario).  Usually, you’ll get an answer between 2 weeks to 3 months.  The bailout may help this as the government tries to help homes from going to foreclosure.  It will help accommodate the short sale process and time-lines will be faster.

Short sale homes are usually sold as is.  The home may be partially remodelled, then left incomplete due to the financial nature of the situation.  Inspection items are usually not addressed by the bank and many fees like title insurance are paid by the buyer.

Do you meet any qualifications for a short sale?  These include:

1.  Can’t get your home sold in the current market because the mortgage balance is greater than the market value of your home.

2. You are behind on your mortgage payment and facing default or foreclosure.  You know that you can’t afford your mortgage any longer.

3. Facing financial hardship such as job loss, death or illness in the family, need to relocate, divorce, and/or inquiring more bills.

4. Are you depleting your savings to pay your mortgage?

5. Is selling your home an absolute necessity?!?!

Most of the time, a lender would rather short sale than go to foreclosure and the government is now on board.  Call us today to get the support you need and the expertise of short sale listing agents.  We can help.