The Peloton
The Peloton is a new luxury condominium building in Boulder. It has a great central Boulder location close to the Creek Path, the new 29th Street Mall, Public Transportation and multiple grocery stores and resturants.
The Peloton features on-site amenities including: street level retail; underground deeded parking for residents landscaped courtyards; dog park; private balconies; eco-passes for all residents and community bicycles.The Peloton also has a private Community Center, which includes: a 6,000 sq. ft. fully equipped fitness center, billiards and game room, lounge, 22 seat theater with 133″ screen, meeting room, and rooftop pool with hot tubs, fire pit and barbeque grills.
RATES FALL SLIGHTLY ON FOMC ANNOUNCEMENT
December 19th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates fell slightly this past week as the Fed cut the discount rate by 75 basis points at the conclusion of its FOMC meeting on Tuesday. Additionally, the Federal Reserve stated that they would purchase large quantities of agency debt and mortgage backed securities to support the mortgage and housing markets. The yield on the 10 Year Treasury Note fell from 2.58% last Friday to 2.10%
currently but mortgages have not kept pace.
Economic data of note included sharp declines in November Housing Starts and Building Permits, which fell to their lowest levels on record. The November Consumer Price Index (CPI) fell 1.7%, the largest decline on record. Core CPI, excluding the food and energy components, was unchanged.
The Dow Jones Industrial Average is currently at 8,611, down slightly on the week. Crude oil futures are currently trading at $35.10 per barrel, down over $11 per barrel on the week. President Bush announced that GM and Chrysler will get $13.4 billion in government loans in exchange for restructuring their businesses.
Next week look toward Tuesdays final read on third quarter GDP, Wednesdays Durable Goods Orders and Personal Income and Outlays as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
Listing Your Home During The Holidays
December 14th, 2008 Categories: Buyer's Corner, Selling Thoughts
You think that listing your home during the holidays isn’t a good idea Boulder Colorado? Well…think again! This time of the year is a great time to have your home on the market. Just remember the basics. Price it right, comparable to the competition. Make necessary repairs and add staging so it shows well . Work with your Realtor on a great marketing plan. And do what you can to make it accessible to potential buyers. With these things in place, you are more likely to have a quick sale, and you are not competing with all of the homes that will be on the market in the spring.
Read more about the reasons why you should list your home for the holiday season.
Listing your home during the holidays; myths and facts.
Myth: Buyers don’t look at homes during the holidays.
Truth: Real estate agents know that homebuyers are shopping for properties during the holidays. Life doesn’t stop just for Christmas and there are people who need to move during this time. They are serious and anxious to close quick.
Myth: The housing market is already in favor of buyers. We won’t get a good deal.
Truth: You will get a great deal and here’s why: there is less competition and fewer homes to choose from over the holiday season. Less competition means more demand for your home.
Myth: We like to decorate our home for Christmas and we won’t be able to.
Truth: Actually, home show great when decorated for the holidays as long as it’s not overdone. Keep it simple and pack other items so your home doesn’t look cluttered. And on a little different note; buyers tend to be more emotional around this time of year. Their decision is often based on the warmth and good feelings they receive when viewing the home.
Myth: People don’t want the hassle of buying at the end of the year.
Truth: Many people want to buy at the end of the year for tax and financial purposes. Also, there are many homebuyers who have a lot of time off right now. They prefer to look for a home at the end of the year.
Myth: Waiting until spring is better.
Truth: Waiting until spring is not better because January is a high job transfer month statistically. Your home has got to be on the market in order to sell. These homebuyers can’t wait for spring to buy and you may miss your chance. And what’s more…many sellers will put their homes on the market in the spring. You’ve just increased your competition!
See? There are plenty of perks to listing your home during the holiday season. By selling your home at this time, you’ve allowed yourself the opportunity to look at homes during the spring season when there will be too many to choose from. Great strategy!
Written by Julie Johnson | Discussion: No Comments »
RATES FALL AGAIN ON NEGATIVE ECONOMIC DATA
December 13th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Interest rates fell slightly again this week on continued negative economic data. October Wholesale Inventories and weekly jobless claims were much weaker than expected. November Retail Sales fell 1.8%. Excluding automobile sales, Retail Sales were down 1.6%. The November Producer Price Index (PPI) fell 2.2% on expectations that it would fall 1.8%.
Excluding the food and energy components, core PPI increased 0.1%. November import prices fell 1.8% and export prices fell 2.9%. China’s November Exports fell 2.2% year over year, its first year over year decline in seven years. At next weeks FOMC meeting the markets increasingly expect the Fed to cut the Fed Funds rate by 75 basis points to a rate of 0.25%.
Other news of note includes the auto bailout plan, which has stalled in the Senate. The Dow Jones Industrial Average is currently at 8,575, down about 60 points on the week. Crude oil futures are currently trading at $44.83 per barrel, up about $3 per barrel on the week. The US Dollar lost ground versus both the Euro and Yen.
Next week look toward Mondays Industrial Production, Tuesdays FOMC Announcement, Consumer Price Index (CPI), and Housing Starts as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
Boulder Colorado Committed to Affordable Housing
December 10th, 2008 Categories: Buyer's Corner, Colorado Round Up, First Time Buyers, Focus on Boulder
The city of Boulder is committed to offering housing to people that could NOT afford a home in today’s market. Boulder offers home ownership to those with low or moderate incomes. In order to make home ownership possible to people of lesser means, Boulder offers assistance. To qualify for the various programs, incomes and assets must be below specified levels for each program. Click income levels to find out more.
Other than income being the most important qualifier there are other qualifications:
- Applicant must complete the city’s Orientation program and Homebuyer Class Series
- You must work at least 30 hours per week, unless retired or disabled.
- You must have a one year work history.
- You must be able to contribute $2,000 for a down payment or towards closing costs.
- You must be able to secure a first mortgage.
- Debt to income ratio should not exceed 42%.
- Your assets cannot exceed $50,000 for one person and add on $10,000 for each additional family member.
- Home must be owner occupied.
- The number of bedrooms may only exceed the number in the household by a factor of one.
- You cannot own another property.
- There are resale restrictions.
The programs are as follows:
Homeworks Program
To make sure that homes fit the needs of low to moderate income levels, homes are build by developers as a requirement of Inclusionary Zoning. Homes are sold at below market prices and these homes are generally classified as permanently affordable. Resale prices are restricted which keeps the homes affordable in the future. To purchase any of these homes you must complete an Income Certification Application.
There are two programs for Down Payment Assistance.
The H2O program, which stands for; House to Home Ownership. This is essentially a deferred loan program, which means you can borrow up to $50,000 and not make any payments for up to 15 years. When you sell the home or if you reach 15 years the loan is due in it’s entirety plus 15% appreciation. If you only own the home for 2 years the 15% is waived. There is no resale restriction. For more information you can download the H2O Brochure.
With the “First Home” program, the city of Boulder will provide up to 20% or a maximum amount of $56,000 towards the purchase of a home. For families of 3 or more, then the amount is increased to $90,000 even if this exceeds 30% of the purchase price for a 3+ bedroom home. These purchased homes become classified as “permanently affordable” and at resale the sale is the price minus the amount of the grant. Essentially the grant becomes an investment of the property by the city. Please read, First Home Conditions and Requirements,
The 3% Solution program is basically a grant that can be used in conjunction with the Homeworks program or on properties purchased with Thistle Community Land and Trust if within Boulder city limits. This 3% grant is solely for persons that DO NOT qualify for the CHFA (Colorado Housing Finance Authority.) Persons must be denied CHFA assistance before applying for the 3% grant. The grant is invested in the property so that when a person decides to sell the property the 3% is deducted from the starting sale price. You may not have more than $12,500 in assets. Here is more information on CHFA loans.
The benefits of all these programs are huge, your chance to own instead of renting, tax benefits, possible equity, and having control over your own property.
I know this is a lot of information, but it’s good information and if you need help then ask your Realtor for assistance. I have only touched the surface of all the details involved with all these great programs, if you are interested, then I urge you to investigate thoroughly all the resources available through the city of Boulder, Co.
Written by Ro Troia | Discussion: No Comments »
Boulder County Colorado - a bright spot in a gloomy forecast
December 9th, 2008 Categories: Colorado Round Up, Focus on Boulder, Market Conditions, Relocating
The Boulder Daily Camera highlighted today the economic forecast for the state, stating that “next year 1000’s of people might loose thir jobs, retail sales will be sluggish and the state’s housing market will continue to slide”. This was released Monday from the University of Colorado recapping the 44th Annual Colorado Economic Forecast released Monday. By comparison, even though Colorado’s forecast might be a bit rosier than the US as a whole, what was amazing was that Boulder County’s forecast is faring quite well. Although not immune, Boulder County as been outperforming the state and national economy in many areas due to the “strength and diversity” of the economy which will most likely hasten the recovery.
Because of the unique mix of employers in the Boulder County and a high concentrations of well paying jobs in industries such as aerospace, biotechnology, renewable energy and natural and organic products industries, Boulder will sustain at a higher level. The CU Economic Forecast expects the natural resources, education, health services and government sectors to weather the recession the best. The report also expects the private businesses and professional and business services to see some gains, however, the retail , information sector, finance, insurance and real estate are expected to cut jobs.
Here are a few of the highlights of the economic indicators for Boulder Colorado:
- 4.6 percent - August unemployment rate, compared with 5.2 percent for Colorado and 6.1 percent for the US
- 16 percent - Decrease in the number of building permits from the first quarter of 2007 to the first quarter of 2008
- 2.5 percent - Appreciation of homes from mid-year 2007 to mid-year 2008, compared with 1.8 percent for the state and a fall of 1.7 percent nationwide
- $243 million - Increase in deposits held in county banks from mid-year 2007 to mid-year 2008
- $346 million - Venture capital investment in local companies between mid- year 2007 and mid-year 2008
For Colorado in general, the government will add about 4,400 jobs, mostly in education, however, the economic forecast expects Colorado state to loose 4,000 jobs bringing the unemployment rate to 6.5% - compared to the 2009 national US unemployment forecast that is expected to grow to 7.5%.
So, can’t stand all the good news here? Stick with sage advice of “DO NOT PANIC“, and don’t “DON’T DO ANYTHING STUPID“. Continue doing what you normally do. They say “the economy is driven much more by people’s attitudes and their perspectives”. And if you’ve got a good job, hold onto it if you can.
Written by Karen Cifala | Discussion: No Comments »
Deck The Halls With Boughs Of Holly
December 7th, 2008 Categories: Focus on Boulder, Market Conditions, Selling Thoughts
Yes, Boulder Colorado, decorating your home for the holidays is fun, spiritual, and festive. We love to put out those icicle lights, wreaths, and huge figurines. However, if you are listing your home during the holidays, be cautious to not go overboard. Sellers, you don’t need to keep all the trimmings in storage just because your home is on the market. But you should decorate in such a way that buyers won’t be turned off. Will they be able to picture themselves spending the holidays in your home someday? Read more to find out.
In Boulder, you know it’s the season to be jolly when you see the huge star lighting up Flagstaff Mountain. The poinsettias and singing Santa adorn our office lobby. Pearl Street Mall looks dazzling and homes sparkle with their holiday light. Sellers want to continue with their particular family tradition and decorate accordingly but homes that are on the market should not ever be overly personalized or cluttered. 
Honestly, it’s not a good time to put the blow-up snowman that is as tall as your roof out on the lawn. So where do you start and what is appropriate. Asking your Realtor is a good place to begin as they should be able to help you strike that balance between enjoying tradition and showing restraint.
Too many novelties end up hiding what’s most important about your home such as architectural style as well as its’ location, price, and condition. It goes along with the curb appeal of the home and that the first impression to buyers is the most critical element in capturing them to want to see more. You want them to say, ” I wish this was MY home for the holidays.
There is one huge advantage to listing your home during the holidays - buyers during this season are serious. Don’t blow your chances. Do the following:
Keep it simple, tasteful, and quiet. David Lannuccilli, an agent in RI, says to keep it minimal. One wreath, one tree, and one table centerpiece. How about a tall narrow tree to emphasize a room’s height and conserve floor space? No cute wreaths with gingerbread men and steer clear of personalized objects such as monogrammed stockings. “When decorations get too personal, people have a hard time picturing themselves in the home.” Pat Heydlauff, a feng shui expert in Palm Beach County, Fla., recommends no or few religious symbols, whether it be crèches or menorahs.
Decorations picked or cut from the garden tend to look as good as anything you can buy. Obviously, holly is the best known plant for this. Christmas without holly is like Easter without daffodils, and that combination of green leaves and red berries will add the simple elegance you’re looking for to sell your home.
When deciding which decorations go where, also decide which nonseasonal items you’ll be removing. For every seasonal item, trade it with a nonseasonal item and put that in storage. This will help keep your home from looking cluttered.
If your home is still on the market when the holidays are over, don’t procrastinate to take them down as soon as possible. I’d say not more than a couple of days after New Year’s.
One more tidbit of advice: In the winter in Boulder, you need to keep the walk shovelled and approachable. You don’t want potential buyers slipping on your sidewalk or tracking in snow for that matter.
Sellers need not refrain from family traditions when listing during the holidays. Just remember, you want to show off your house - not your holiday decorations. Keep it simple, decluttered, and flattering.
Written by Julie Johnson | Discussion: No Comments »
RATES CONTINUE TO FALL ON ECONOMIC DATA
December 5th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates fell slightly on the week on continued negative economic data.
This Weeks Rates
Todays November employment report showed job losses of 533,000 on expectations that 320,000 jobs would be lost. The unemployment rate was reported at 6.7% on expectations of 6.8%. The ISM Manufacturing Index and the ISM Services Sector Index were weaker than expected. October Construction Spending and Factory Orders were also weaker than expected. The Treasury is considering buying mortgages at rates as low as 4.50% but no details have been worked out. It is just a rumor at this point.
The Dow Jones Industrial Average is currently at 8,264, down almost 500 points from the Wednesday before Thanksgiving. Crude oil futures are currently trading at $41.21, down over $13 per barrel on the week. U.S. automakers continue to ask Congress for bailout loans to help them avoid bankruptcy.
Next week look toward Thursdays International Trade and weekly jobless claims and Fridays Producer Price Index (PPI) and Retail Sales as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
Tis The Season to Be Giving
December 3rd, 2008 Categories: Colorado Round Up, Focus on Boulder
During these seemingly difficult times (ok- even the press is calling it a “recession” now) it really makes my heart shine when I continue to read in the Boulder Colorado Daily Camera newspaper about people digging deeper into their pockets making sure that their neighbors have enough to eat. This year the Community Food Share’s “Let’s Bag Hunger” food drive has so far exceeded it’s goal to collect food and money by 20%. The scary part is that the 20% is also a mirror of the increase in demand . I am proud to say that Boulder’s Non-Profit Community is one of the best I’ve ever seen and one which Boulderites pride themselves. Continue reading to see a sample list of non-profits in Boulder Colorado and think about getting involved in one of Boulder’s unique non-profits or maybe one in your community.
- United Way of Boulder Colorado currently has a socks and mitten drive going on and check out their website if you want to set out a collection bin in your office, store or church.
- Parenting Place - their goal is to relieve to relieve isolation and the stress of parenting by providing outreach, education, and help in developing a sense of community.
- Boulder Shelter for the Homeless - their goal is to provide safe shelter, food, support services and an avenue to self sufficiency for homeless adults. They have 2 very successful fundraisers: the Barely Black Autumn Gala, held at the Boulder Theater and the Boulder Shelter Golf Classic.
- Community Radio station KGNU - a non profit “community radio” continues after 30 years to be a part of the publicity organ by promoting community outreach and participation.
- Boulder Humane Society - founded to protect those who do not have voices to protect themselves.
- Boulder Health and Human Services - click on the website to see a list of all Boulder County’s health services
- NARF - Native American Rights Foundation - based out of Boulder Colorado and founded in 1970, it’s the oldest and largest non-profit law firm dedicated to asserting and defending the rights of Indian Tribes, organizations and Indians nationwide.
- Golden West Foundation - formed to cover gaps between Medicaid reimbursements and actual costs for senior housing and care to Boulder residents in their assisted - living facility.
- EFAA - Emergency Family Assistance Association - helps those in the community with immediate needs for food and shelter and other basic necessities.
- Peace and Justice Center - rooted in the spirit of unconditional nonviolence and decdicated to personal and social change.
- eQuilters Inc - a Boulder based online resource of quilting supplies who have earmarked their 2009 charitable partner Engineers Without Boarders - promoting and implementation of water filtration and energy solutions in Rwanda Africa.
- Pedestrian Shops of Boulder - they’re collecting used shoes
- Bead of Life - an organization founded by 3 women that arrange to try and help Ugandan woman overcome extreme poverty and hardship by earning money by making colorful bead necklaces out of paper and selling them.
This is just a smattering of volunteer non profits in the Boulder County Community. If you want more information about working as a volunteer and are looking for that special interest of your heart, please visit The Volunteer Connection. Established in 1969 in Boulder Colorado, this organization was one of the first volunteer information and referral centers in the nation.
Please email us if you would like The Troia Team to highlight your non-profit organization on our website and in our blogs during this holiday season and throughout the new year. As a Real Estate Team, we are involved in the community and want to be involved with you! Have a wonderful and safe Holiday Season.
Written by Karen Cifala | Discussion: 1 Comment »
Eco Fun Facts
November 30th, 2008 Categories: Focus on Boulder, Trends
Did you know that turning your thermostat down by just 1 degree, you’ll cut fuel consumption by as much as 10% ? Cutting down on energy use is great for so many reasons - global warming being one of them.
Boulder Colorado has got to be one of the most environmentally progressive cities in the United States. Because the mountains provide ample outdoor activities for people of all ages, the earth and nature are respected here. When I park to go shopping, I am always in awe of so many Toyota Prius Hybrids in one place! Everyone is joining the green revolution. We have Eco Realtors, “green” mortgage lenders, eco-handymen, eco product stores, sustainable building, healthy home consulting…and the list goes on and on. Here in Boulder, you need to be up to date on your eco facts. Read more and impress your friends with what you know.
ECO FUN FACTS
1) One 98 foot tree with 200,000 leaves can absorb 11,359 gallons of water and breathe it into the air in just one growing season. Another reason why Boulder is a great place to live - we have lots of trees!
2) I guess you can’t hear this one enough - compact fluorescent light bulbs consume up to 75% less energy and they last up to 10 times longer than incandescent bulbs. We even bought LED Christmas tree lights this year!
3) By replacing old refrigerators, dishwashers, and washing machine with EnergyStar qualified appliances, you can save up to $200 per year. When you resell your home, this will also increase the value of your home.
4) Renewable energy quickly replaces itself and is usually available in a never-ending supply such as sunlight, wind, and water.
5) Non-renewable energy refers to sources of energy that cannot be immediately replaced like coal, oil, and natural gas.
6) Laptop computers consume up to 90% less energy than standard desktop computers.
7) Wind is the fastest growing energy source in the US. You can even sign up to have wind generate the power for your home. 
Appliances like TVs and microwaves keep using electricity even when not in use, so be sure to unplug before leaving for the holidays.
9) The average home can accumulate as much as 100 pounds of household hazardous waste in the basement, garage, and storage closets. I have one word for you - declutter! And do it right by disposing of waste appropriately. Go to your local recycling centers website for details on what waste goes where.
10) An average family of four uses 400 gallons of water every day. If one out of 10 homes in the US upgraded to water-efficient fixtures, it could save more than 300 billion gallons and nearly $2 billion annually.
11) Shortening your showers by 1- 2 minutes, you can save up to 2600 liters of water per month.
12) Using the air conditioner in stop and go traffic can increase fuel consumption by as much as 20%. This was a major issue during the summer when gas prices were so high.
Remember, Boulder Colorado is home to one of the most impressive environmental movements I’ve seen. As a real estate agent, it’s important to know about sustainable building and eco-friendly products. Buyers and sellers want to know about energy efficiency and home health. Just by doing one or two of these easy tips, you can positively impact the earth and people in Boulder will be impressed.
Written by Julie Johnson | Discussion: 1 Comment »
RATES INCREASE DESPITE FALL IN TREASURY YIELDS
November 25th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts, Trends
Mortgage interest rates increased slightly this past week despite the yield on the US Treasury 10 year note falling from 3.71% to 3.174% currently. This is the biggest weekly drop in the 10 year note since the stock market crash of 1987. Money continues to flow into safe Treasury debt with short-term yields nearing zero and out of the stock market.
The Dow Jones Industrial Average is currently at 7,528, down almost 1,000 points on the week. The market is now speculating that the Fed may cut the Fed Funds rate by 75 basis points at its December FOMC meeting.
Economic data of note included the Producer Price Index (PPI) and the Consumer Price Index (CPI). PPI fell 2.8%, its largest decline since 1947 and CPI fell 1.0%, its largest decline in 61 years. October Housing Starts and Building Permits fell substantially. Housing Starts are at their lowest level since 1959 and Building Permits are at their lowest level since 1960.
Crude Oil futures prices continued to fall, dropping over $8 per barrel to $48.59 per barrel currently. Fannie Mae and Freddie Mac announced that they will suspend foreclosures over the holidays. Citigroup announced that they will eliminate over 50,000 jobs.
Next week look toward Tuesdays second look at third quarter GDP and Wednesdays Durable Goods Orders and Personal Income and Outlays as potential market moving events.
Written by Brody Stinson | Discussion: No Comments »
