taken by Sam Hall

With this latest fire, over 1,800 Boulder Colorado residents were asked to evacuate their homes yesterday and the breaking news for today is that the evacuation was lifted.  And according to the Daily Camera, mandatory evacuation orders remained in place overnight for at least 139 Boulder County residents and 1,700 people within city limits west of Seventh Street, from Canyon Boulevard on the south, to North Street on the north. Also, Boulder Community Hospital’s Maxwell and Mapleton facilities were also evacuated and will remain closed Saturday. The hospital’s north Broadway location was not affected.  Read about how the fire started and more.

The cause of the “Dome Fire” is still uncertain but not at all uncommon.  As a resident of Boulder for over 15 years, the community knows that this is the dry season.  We’ve had little rain, no snow yet and the winds have been insane.  Several days ago, I think the winds were over 60 mph!  Thank goodness there wasn’t a fire that day.  There were actually two fires yesterday.  The first is possibly from a campfire and the second was caused by a blown ember.  The fires then combined into one blaze that moved with high winds to the north and east and that’s when the evacuation orders were prompted.  Along with reverse 9-1-1 calls, police went door to door. 

Check out some more great pictures.

While devastating and  worrisome, fires are a part of mountain living.  Luckily no structures have been damaged in this latest fire. My heart goes out to all who lost a home in the Fourmile Fire.  My advice has a real estate agent, please make sure to purchase homeowners insurance if you own your home outright and renters insurance for you renters.  If you have a mortgage, you are required to carry insurance anyway.   

I was asked the following question when showing one of our VA (Veterans Administration) owned properties:

 ”Are you familiar with the Vendee Program in which Bank of America offers to buyers? And I am curious if you’ve had real estate deals involving the Veterans Administration.”

Since we are witnessing more and more Veteran Administration-owned properties in the real estate market, I assume that many more people have the same question or are unaware of financing that they may in fact qualify for. 

Vendee financing is a program Veterans Admin offers to help finance VA REO (bank-owned) properties. The appeal of this is the times when a VA loan product or program is offered to non-veterans.

According to the Department of Veterans Affairs, there are two terms available; a 15 year and a 30 year.  The terms include 0% down if the property is an owner occupied purchase. The loan can increase, but the funding fee may not be financed.  For non-owner occupied purchases, at least 5% down is required.

Regardless of whether the purchase is classified as an owner occupied or not, the type of home loan is a ”credit score driven product”.  However, for non-owner occupied purchases, the Depart of Veterans Affairs insists buyers prove they have experience in property management and must include estimate rent amounts when providing loan documents.

For qualified investors, a big part of vendee financing is the fact that there are no limits on the amount one can buy under the program- if there’s a list of properties available under vendee financing, you can add what you’re able to invest in.

The VA does not give loans; rather, they guarantee the loans of qualified borrowers. Because of this, lenders are more willing to offer lower interest rates or take risks on applicants with questionable credit. In the event that a loan goes into default, the VA pays off the mortgage , takes possession of the house and lists it for resale.

Again, this program applies to properties in the VA’s inventory of foreclosed homes only.   Contact me to find you  VA listings in your area and I can assist you in how to obtain financing and get you into a great deal on a VA-owned home.

School is ending for the 2009-2010 year and with that comes the need to find childcare for the summer.  As a working mother in Boulder Colorado, I am always looking for a great summer camp or two around the county.  And since real estate is really picking up, I will need plenty of full-time child care.  Over the years, my children have attended YMCA, Science Discovery,  and Avid4Adventure.  These are all fulfilling camps providing not only supervision but stimulating activities as well.  Did you know that YMCA camps have been voted the best day camps 4 years in a row!?  Wow, you can’t beat that kind of award.  It’s nice to feel reassured that while your child is away for the day; that they are learning, having fun, and being well taken care of.  At the YMCA Day Camp, children can enjoy all sorts of adventure including archery, swimming, arts & crafts, field trips, and new friendships.  A wide variety of programs are offered for children ages 5-17, with special programs designed just for teens.  Want to hear about more camp opportunities?  Read on.

The University of Colorado’s Science Discovery, is one that my daughter attended every summer. Each year was a different experience ranging in Dinosaur Fun to  Chemistry Chefs.  The Science Discovery program offers classes for ages 4-16 including math, science and technology which are taught with hands-on activities that are fun and informative. Teachers utilize university and community resources to produce a stimulating environment, both indoors and out, and a variety of field experiences. New classes are offered each summer and support the Colorado Science Standards.

One of our other favorites is Avid4Adventure especially because it contains experiences that are active and outdoors.  One summer, my daughter took a week long kayaking trip that also included camping and rock climbing.  It was important to me to have her outdoors in nature possibly doing something that she never would have done otherwise.  David Secunda, the Founder explains that Avid4 Adventure provides age-appropriate outdoor activities that encourage learning, develop self-esteem and build friendships. Given that outdoor activities can involve risks, he says that the focus is on promoting safety through participant awareness and quality staff. All of the staff are proficient and tested in their area of instruction, certified in first aid and CPR, trained in defensive driving, background checked, as well as being experienced with kids and great role models.

Boulder County Kids is a great way to find out more about the summer camps in and around Boulder.  For real estate news and to learn more about what’s happening in town, subscribe to our site and receive all the information you need.

Really?  Not a short sale?  Not a foreclosure?  It’s called a ” Deed in Lieu of Foreclosure” which actually lets a homeowner voluntarily turn over the deed to their house to the lender!    This is not a new concept, however, neither is foreclosure, but this crazy real estate market we are living in now requires that you cover all you bases before making a final decision on how to get out from under your mortgage.  Even thought the federal government launched some new rules earlier this month concerning short sales, some homeowners might not quality for a short sale because they have no hardship. Could this be you?  Read on please….

A Deed in Lieu options sometimes allows the homeowner to negotiate more favorable exit terms than a foreclosure allows.  It is a signed written legal instrument that is used to grant a right that will convey all interest in your property to the mortgagor to satisfy a loan that is in default, ultimately avoiding foreclosure.  If you have already declared bankruptcy, however, and your home is part of the bankruptcy, a Deed in Lieu will not apply. After talking to a short sale facilitator recently, I found out that If you are contemplating bankruptcy sometimes it’s best to settle your real estate affairs, either with a short sale or deed in lieu prior to filing for bankruptcy.  You should always professional legal and accounting advice before making your final decision.  

Here are few of the advantages that I found for both the borrower and the lender:

Advantages for the homeowner:

• The borrower is immediately released from “most” or all of the personal indebtedness
• The borrower avoids the public notoriety of a foreclosure proceeding
• The borrower may receive more generous terms from the lender than if they went into formal foreclosure
• The borrower’s credit might be hurt less than with a foreclosure, however, if you are concerned about your credit, a short sale is the best alternative.  The bank still has to re-sell your house with a Deed in Lieu to recoup their costs, it’s a close cousin of foreclosure.
• The borrower might be able to stay in the house a few months longer

Advantages for the lender:

• Lender has a reduction in the time and costs of a repossession
• Lender has a lower risk of owner revenge (vandalism before sheriff eviction), although lenders have the option of coming after the homeowner if there has been vandalism). Remember in your mortgage contract….there’s this clause that says..you will maintain the property and not damage it.
• Lender can potentially save tens of thousands of dollars in legal fees and other costs associated with foreclosure

Contact your lender and discuss your options before it gets too far down the road.  As always, communication is “crucial” with your lender to get maximum outcome.  Here are some things you should also know in order to be considered for a Deed in Leiu of foreclosure:

• Both lender and borrower must enter into this agreement voluntarily and in good faith – which means with honest intentions
• The value of the agreement between you and your lender must be at least “fair market value of the home”, which is the estimated value that a knowledgeable, unpressed buyer would pay a seller in the current real estate market.
• Sometimes the lender will agree to a Deed in Lieu even if the amount owed on the mortgage is more than the current fair value, because they will end up with the property anyway
• Lender will want the borrower to sign a written offer of conveyance stating that the offer and negotiation is being done voluntarily.  The will prevent either party from presenting evidence that contradicts or adds to the written contract and will protect the lender from a  possible claim that the lender acted in bad faith or pressured the borrower into the settlement.
• Get in writing from the lender “debt forgiveness”  otherwise they may come back and ask the for difference.

One more important thing to note is  “document everything”, from phone calls to certified letters and please don’t forget to have an attorney help you with the negotiations. I wouldn’t suggest negotiating this alone.

As a Realtor on the Troia Team in Boulder Colorado, we are doing our due diligence to educate ourselves and our clients as to what the options are for them.  We know how hard it can be, we’ve worked with many home owners and understand the complexity, complications and the anxiety that are a part of our real estate world today.  How may we help you?

Got kids?  How about family visiting from out of town?  Well, this is your week Boulder County Colorado!  It’s family week, which obviously means a weekends worth of activities designed for the whole gang.  If you’re from Lafayette, enjoy time spent at the Bob Burger Recreation with FREE ADMISSION for the kiddos!   The Longmont Museum and Cultural Center is hosting hands-on games including a water game and solving the Sweet Beet Puzzle.  Keep reading for more details on these activities and more.

One participating organization, Bob L. Burger Recreation Center, which is a 47,000 square foot recreation center housed on 20 acres of parkland.  This multi-use area features a 4-field youth sports complex, an in-line hockey rink and the City’s outdoor classroom.  These amenities provide the community with a wonderful focal point for great family recreation.

Mention Boulder County Family Week and youths 2-17 will receive free admission with an adult’s paid admission May 1st – 7th.  Their address is 111 West Baseline Road in Lafayette and their phone number: (303) 665-0469.

Next is the Longmont Museum and Cultural Center hosting a hands-on day of water games, solving puzzles, using a digital microscope, playing with buffalo and crow costumes, creating your own town, and fin hidden treasures in the Long’s Peak room.  They are located at 400 Quail Road and the next family day date is May 7th from 9-10:15, 10:15-11:30, and 12:30-2.  Ages 2-5 with a parent.

Another great event is held at Playfair Toys on 2550 Arapahoe in Boulder which involves making a craft for mom.  It’s on Saturday at 11:00am.  Ages 3 and up and you can reach them at (303) 444-7502.

Check out Reverence Academy of Dance where a kickin’ swing class will be taught.  Also in Lafayette at 1370 Minders Dr #103 on Friday May 7, 5-6:30pm.  Ages include 7 and older with parents.

If you would like more information on family activities in Boulder and real estate trends in the area, subscribe to our site and receive updates.  I’d love to hear your ideas for the weekend.  See you around town!

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.

 The Troia Team Realtors of  Boulder Colorado love Rockies baseball.  Because we also love our clients, we throw a client appreication game day each year in which we provide free Rockies Tickets and a pre game party.  Last year it was held on the rooftop of LoDos, serving food and beer.  Then, we all headed to the game, providing free popcorn and snacks.  It’s always a blast.  Many of you have already participated  in a game, forever loyal to your local Denver team.  Read more about the Rockies season and history.

Here’s the most recent news according to Jeff Siedel: Aaron Cook battled uncharacteristic control problems Monday night, and his early troubles helped Washington score five quick runs en route to a 5-2 victory over the Rockies before 11,623 at Nationals Park. Cook (0-2) labored through his three-inning stint. He threw 83 pitches (just 46 strikes) and gave up five runs on seven hits, walking four and striking out two while repeatedly falling behind in the count.That’s what forced the right-hander to face nine batters in the second and eight more in the third. Cook’s biggest problems came with Willie Harris, who hit a three-run homer in the second and a sacrifice fly in the third.Clint Barmes got an RBI double for Colorado (6-7) in the third, and Miguel Olivo added a sacrifice fly in the fourth. Washington starter Craig Stammen (1-0) threw eight strong innings, giving up just two runs on five hits.The loss ended a nine-game Colorado winning streak against the Nationals, dating back to late in the 2008 season, and was the franchise’s first loss in Nationals Park.

Click here for this season’s schedule.

HISTORY:

The Colorado Rockies are a Major League Baseball team based in Denver, Colorado. Established in 1991, they started play in 1993, the Rockies play in the West Division of the National League. The team is named after the Rocky Mountains, which pass through Colorado, just west of Denver. The Rockies play their home games at Coors Fieldin downtown Denver. After previous failed attempts to bring the Major League Baseball to Colorado (most notably the Pittsburgh Pirates nearly relocating to Denver following the Pittsburgh drug trials in 1985), by the early 1990s a team seemed to be a possibility in Denver. The Colorado Baseball Commission, led by banking executive Larry Varnell, was successful in getting Denver voters to approve a 0.1 percent sales tax to help finance a new baseball stadium. Also, an advisory committee was formed in 1990 by then-Governor of Colorado Roy Romerto recruit an ownership group. The group selected was led by John Antonucci, an Ohio beverage distributor, and Michael I. Monus, the head of the Phar-Mor drugstore chain. Local and regional companies—such as Erie Lake, Hensel Phelps Construction, KOA Radio, and the Rocky Mountain News—rounded out the group. On July 5, 1991, the National League approved Denver and Miami, Florida, as the sites for two expansion teams to begin play in 1993.The Rockies joined the National League in 1993, along with the Southern Florida franchise, the Florida Marlins. The Rockies’ first pick in the expansion draft was pitcher David Nied from the Atlanta Braves organization. Nied pitched 4 seasons for the Rockies.

If you’d like to be a part of our unique and fun client appreication party, subscribe here and you will receive up to date real estate news and client appreciation party details.

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.

Looking for entertainment tonight or this week in Boulder County Colorado?  Do you love to dance, listen to music, drink famous beer, and eat yummy food? Well, look no further than the all-famous Oskar Blues in either Longmont or Lyons.  One of my favorite attributes of the brewery is the live music.  Of course, many visitors love the beer including the all-famous Dales Pale Ale, which was voted one of the quintessential American hoppy pale ales of our time by BeerAdvocate.com. The intimate, 100-person capacity of the beloved juke joint gets you up close with the best musicians in Colorado and the United States. No wonder Rolling Stone Magazine called them the hottest place to be on a Saturday night in Colorado. Read what Oskar Blues has to say about themselves.

Oskar Blues says, “Our list of acclaimed, top-shelf comfort foods covers a lot of tasty ground. We serve up everything from soul-stirring gumbo and other New Orleans-style treats to exceptional fried catfish (the best in the Rockies), bodacious burgers, and mouth watering Mexican fare.

We also take pride in our homemade pizzas, Dixie-fried bar fare, and an array of vegetarian and low-fat offerings. Craving dessert? Our Chocolate Dump cake is one of our most revered after-dinner treats. We also serve a wholesome lunch and dinner special each day, call us at  303-823-6685  to get the daily special info.

Along with great beer and food, we’re also down with soul saving live. Both our basement music room at OB Grill & Brew & our most recent upstairs live music venue at Home Made Liquids & Solids have presented some of best national and local acts to come to the area.  In addition to having a passion for full-flavored beer, we also have a big love for delicious, down-home cooking. Our family-friendly, folk-art blessed restaurant is home to a mighty menu of Cajun, Creole and Southern-style comfort foods that reflect our founder’s southern upbringing. We’re also nuts about live roots music. Our basement music room has presented the best national and local acts since 1997. We welcome everything from blues, rock, bluegrass and jam music to folk, Americana, trad-country and the Lyons High School Jazz Band (they rule!).

We’re especially crazy about the blues. Our lineup of national blues acts stretches from living legends such as Pinetop Perkins and Duke Robillard to up & comers such as Tommy Castro, John Lee Hooker, Jr. and other rising stars.”

Find out why I love this brewery and don’t miss the next live band.  Check out tonight’s venue. You’ll have a blast!  After you visit, let me know what you think.  You can subscribe to our blog to find out more local restaurants and hotspots around the area.  And do you need a real estate agent who specializes in the area?  Look no further than The Troia Team.

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.