Beautiful Townhome in Boulder
• 1,833 sq. ft., 4 bath, 3 bdrm townhouse - 
MLS® $369,000
Noble Park, Boulder - Cozy 2-story town home in Noble Park. Wood floors, gas fireplace, deck overlooks bike path and pond, loft/study upstairs. Finished basement with family room, bedroom, full bath and laundry. HOA just painted the exterior of the building last fall. Includes all appliances and a one-year home warranty.
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I actually enjoy the winter months when working with buyers because the day ends at dusk or around 5 pm, what I would consider a full work day. Whereas in the summer months I could be showing homes from dawn until dusk or 9 pm. When I finish up with a day of showings in the winter, I know the buyer is going to go home, have dinner, and probably spend the rest of the evening searching for more properties on the internet. But, as the days are now getting longer, I am reminded of what is to come with daylight savings and more hours to house shop. Why would I care, you ask? Because if I drop a buyer off before dark, they will hop into their own car and keep driving around looking at homes, contacting FSBO's (for sale by owners), making sign calls to other agents, and so on. And then the call comes the next day. "Say, Judy, we drove around a little last night and saw this house over on Numbnuts Street, and, well, the seller, Mr. Numbnuts, was out in front and we just took a little tour, and...well, he said if his agent writes the offer that we would save a lot of money as he would give us a special deal if we let his agent write up the contract, and, er, we wrote an offer with his listing agent last night."
Here's the question for you readers. Do you really, really believe that you can save money by going around your agent and working directly with the Seller and the Seller's Agent? .I would love to hear your thoughts on this. I'm always amazed and amused at what people are thinking and would love to respond to your comments. Have at it!
As if the housing market doesn't have enough woes, the loan situation is continuing to challenge our already small buyer pool. Read on....
- HUD announced today some major changes to FHA today. There is no date yet as to the effective date of the changes, but it should ignite a fire under those buyers who were sitting on the fence and thinking about an FHA loan.
- The Up Front Mortgage Insurance Premium is going to be raised from 1.75% to 2.25%. That does get rolled into the loan, but paying another .50% in that fee is quite a jump. (on a 200,000 property, that is almost another $1000 in UFMIP)
- The down payment is said to jump to 10% for those with credit scores below 580. But to be honest, there aren’t very many investors that will lend below a 620, even though FHA will go lower.
- Seller Credits are going to be capped to 3% (from 6%)
- And it will need to be approved still, but they are also wanting to increase the monthly Mortgage Insurance as well.
- All big changes that will help FHA, but could hurt some buyers abilities.
- Again these changes will come into effect sometime this ‘spring’. Once we see a date, I’ll pass it along.
Today’s Market Barometer: (30 day lock, 20% down, O/O, Excellent Credit… Always call for an exact scenario quote)
30 Year Fixed 0+0 (no points) = 5.125% 5/1 ARM 0+0 = 4.00% 30 Year Fixed JUMBO 0+0 = 6.125%
30 Year Fixed 0+1 = 4.875% 5/1 ARM 0+1 = 3.625% 30 Year Fixed JUMBO 0+1 = 5.75%
Let me know if I can help: FHA, VA, USDA, Jumbo’s…we got ‘em,we close ‘em!
Ananda Lantaff, Bank of Commerce, Boulder, CO Email: ananda@boulderfinance.com
9 Ways to Avoid Foreclosure
REINSTATEMENT: Bring the loan current
FOREBEARANCE: Temporary repayment plan
REFINANCE: New loan with reduction in monthly payments
LOAN MODIFICATION: Modify original loan terms
SELL THE PROPERTY: Use equity to pay off or pay difference
RENT THE PROPERTY: Must make loan current
SHORT SALE: Negotiate with bank to accept sale under loan amount
DEED IN LIEU OF FORECLOSURE: "friendly foreclosure"
BANKRUPTCY: Will stall foreclosure but not prevent it
THERE IS A HUGE DIFFERENCE BETWEEN LIFE AFTER FORECLOSURE AND LIFE WITHOUT FORECLOSURE!
Allow me to be your advocate!
Judy Spear, CDPE 720-771-6075
Judy Spear of Spear and Company, Boulder, CO has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
In the Boulder County area, there are already more than 416 homes scheduled for Public Auction in 2010 and more homeowners are in default and in danger of foreclosing. And this is only January! It is happening in all price ranges. There are currently about 115 Active Short Sale listings in the MLS in Boulder County. Of those, 12 are in the over $1-3 million dollar price range.
This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales. It is so rewarding to be able to help sellers save their homes from foreclosure.
Judy Spear has been helping homeowners with Short Sales since 1999. I have valuable training and experience in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. I can can help sellers through the emotional experience.
For more information on how you may be able to avoid foreclosure and Short Sale your home, call Judy directly at 720-771-6075.
St. Vrain Ranch, Firestone - Announcing a price reduction on 10260 Echo Cr, a 2,736 sq. ft., 4 bath, 4 bdrm 2 story. Now MLS® $215,000 - PRICE REDUCED $20K!. Need an offer to stop foreclosure. Call Judy at 720-771-6075.
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I just had to take a moment to endorse Sprouts Farmers Market located on the SW corner of Baseline and 30th Streets in Boulder across from Williams Village. Sprouts specializes in farm fresh produce purchased from local growers, when possible. I swear that the produce is brighter, crispier and fresher tasting than I have found at any other market. And, best of all the prices are remarkably lower than the other stores (including the one with the big green brand name with the high prices.) I am amazed that my grocery bill is about half of what it used to be since I've been shopping at Sprouts! If you want to have the best organic products and produce at the lowest (and I mean lowest) prices, stop by Sprouts. It is my very favorite market! Here's a website link for more information. http://sprouts.com/home.php (And, I didn't get paid to write this.)
Did you know that you may be eligible for a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).
Follow this link for complete information on the Home Buyer Tax Credit http://www.federalhousingtaxcredit.com/faq2.php
This is a great time to begin searching for your next home. You can search the entire Denver and Front Range MLS systems on our site. Save the properties you are interested and let me know if you need more specific information on the homes of interest. Give me a call when you are ready to take a tour of these homes or need more information.
We look forward to helping you with your next purchase. Happy House Hunting!
Judy Spear, Spear and Company - 303-448-8855
Many folks are pressed with the question “Should I list my home for sale now, going into the holidays and winter months, or wait until spring?” Well, here are Ten Good Reasons to list your home for sale right now.
1. Serious Buyers – Yes, there are fewer buyers, but those buyers that are in the market are usually very serious about making a purchase or, have to make a purchase.
2. Less Competition- Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
3. Homes Show Better During the Holidays – Buyers love a home that can tell a story. The holidays are a great time to show homes because the home is usually dressed for the holiday celebrations!
4. January Is the Biggest Transfer Month – Did you know that more corporate moves happen during January than any other time of year? This may be a great reason to list your home during the winter!
5. Timing- By putting the home on the market during the winter you may be able to more easily hit your moving goals and priorities. After all, if you need to relocate now, for personal, business or family reasons, should you really wait to sell?
6. More Time To Get Top Dollar- By starting to market your home early you may be able to secure a higher price. Less supply can yield a higher price for your home. 7. Great Time To Shop-If your home sells quickly you will be able to shop for your next home during the winter, a great time to find a bargain!
8. More Advertising- Because most Realtors and offices have less inventory during the winter your home will stand out with Spear and Company's comprehensive marketing program.
9. The Market – Today’s interest rates are low and buyers are anxious to take advantage of the tax credit incentives. This gives buyers more spending power. And, when you begin shopping for your next home, you can benefit from the added buying power of the low interest rate on your new mortgage!
10. About 20% of the homes in a given year are sold between November and February – Buyers and Sellers are usually quite motivated to get the transaction completed. This can mean less price haggling and fewer hassles during the inspection period. There are quite a few benefits for moving forward now!
Get started today with a free Market Evaluation. Call Judy Spear at 303-448-8855 and let's get your home on the market!
Home sellers are very concerned when their home has been on the market for some time. The offers presented, if any, have been too low to even consider. The home hasn't sold. Quite naturally they want to know "what's wrong?"
The Boulder County housing market is active and homes are selling. Interest rates are down and neighboring homes have sold. "Why haven't I had a serious offer", "Should I take my house off the market?", Should I change Realtors?"
PRICE: There is a selling price for every property. If the market is showing little interest in your property, the price is probably too high for this market. Reviewing your asking price is the most difficult, painful and personal part of answering the question, "Why aren't we getting any action". Get fresh comparable sales in your area. Forget the asking prices of homes that aren't selling. Those are the "wishful sellers with wish prices." Check out the homes that are selling. Your home must be priced to meet the market in your neighborhood.
TERMS: How flexible are you really prepared to be? Can you offer Owner Financing or a Quick Closing (30 days or less)?
APPEARANCE: Remember, "Even your best friends won't tell you!" A good Realtor will level with you. Listen to your Realtor, or call a third party staging expert in for objective opinion and advice. You will need to remove your personal feelings and emotions about your home (along with some of your most prized possessions and bric-a-brac). Be prepared to paint, clip, cut, clean, deodorize, send to storage, toss out, caulk, mow, paper, cement, repair, add, scoop, weed, tear down, and scrub. Paying attention to these things will make the difference between a For Sale or Sold sign in your yard.
ATMOSPHERE: Leave the house when it's being shown and take the dog and children with you. If you must be home don't chat with the buyers, just disappear. Play quiet, soothing music. Be careful of cooking odors. Turn on all the lights and open the blinds and shades. Put fresh flowers on the table. Have fresh "show" towels in the bathrooms (unused).
BE PATIENT: Today's buyers are tough but every market offers opportunity. Seek your real estate professional's advice. Put together an aggressive program and then act on it. Properly priced, packaged and presented homes are selling. Yours will too!
One of our favorite Holiday Traditions each year is watching this home-town parade from the comforts of The Rio Grande Restaurant at 11th & Walnut. The weather is usual cold and snowy. So Tom and I prefer to meet with friends at the restaurant and sit in the "garage" watching the parade chug around the corner. Parade starts at 6 pm but you will need to arrive a little early to get one of the coveted seats in the "garage". (The restaurant was a gas station years ago.) For good Mexican food and fantastic Maragaritas (limit 3) plus a fun light show and parade, come on down this Saturday.
Longmont and Lyons are also celebrating with parades, fireworks and light shows. For a list of other Boulder County Holiday Events, check out this link http://www.getboulder.com/things_todo/todo_holidays.html
John and Roselyn Moore of 123 Eagle Canyon Cr, Lyons, closed on the successful sale of their home today! We want to extend a very warm welcome to the Buyers and new Owners of this gorgeous property, Bengt and Margaretha Bergstrom, hailing from New Jersey and new to the Boulder County area. Theyare especially delighted to have found this wonderful home and we know they will really enjoy living in Lyons. Congratulations to all!
(Not to brag or anything, but this home was only on the market 8 days when the Bergstroms found it on the internet and brought an offer. Was that great marketing or what? Well, it was an exceptional home and I would love to list a few more like this one.)
Judy Spear, Listing Broker, Spear and Company
Hearty Congratulations to Darren Clemenhagen and Lynda Jo Keating on the successful sale and closing of their home at 129 Eagle Canyon Cr in Lyons today. I especially want to thank them for going above and beyond the norm with regard to insuring that all items of concern to the buyers were met with immediate response. The cooperation of all parties in a real estate transaction is essential to a successful Closing! Kudos to the two of you and Best Wishes in your new home!
Judy Spear, Listing Broker, Spear and Company, www.bouldercountyinfo.com
Homebuyers want to know your home inside and out. With the help of a professional Home Inspector, the buyers will look for everything that might be wrong with the house. Will the roof end up leaking? Is the wiring safe? What about the plumbing?
These and many more questions will come up during a home inspection. According to industry experts, there are at least 33 physical problems that will come under scrutiny during a home inspection. I have detailed 11 of those items in this blog post.
Defective Plumbing
Damp or Wet Basement
Inadequate Wiring & Electrical
Poor Heating & Cooling Systems
Roofing Problems
Damp Attic Spaces
Rotting Wood
Masonry Work
Unsafe or Overfused Electrical Circuits
Structural or Foundation Problems
High Levels of Radon
In most cases, you can make a reasonable pre-inspection yourself if you know what you are looking for. And knowing what you're looking for can help you prevent little problems from growing into costly and unmanageable ones.
I recommend that every home seller obtain a Pre-Inspection Report with a professional home inspector. This will insure that the problems that are found can be corrected before a purchase contract is presented and a buyer inspection takes place. A good home inspector will provide you with a complete report of your home, in writing. This can be available for potential buyers to view when touring the home and notes and comments can be added to the report by you detailing any corrective measures taken.
You will save thousands of dollars by having your home pre-inspected and correcting the problems found. Sellers are often pleased to have negotiated a good purchase price on their home. But, then comes the Inspection and subsequent negotiation in the inspection period with the buyers asking for more money off of the price in the form of seller concessions or major fix-ups. The problem is in how buyers and sellers see the fix-ups. A $100 fix for a seller may be viewed as a $500 repair that the buyer is facing.
Knowledge is Power! And, the more you know about your home, the more money you will get to keep in your pocket at closing!
If you would like more detailed information on How to Pass Your Home Inspection, just drop me an email: judy@spearteam.com and I will be happy to send it to you.
Happy Selling!
Judy Spear, Spear and Company
November 11, 2009
Miliken Institute and Greenstreet Real Estate Partners reissued their 2009 index of Best-Performing Cities. The scoring for cities is based on factors such as job growth and creation, gross domestic product and wages – weighing heavily on jobs.
In 2008, Boulder CO scored #95 amongst the top 200 largest cities in the country. 2009 is proving to be a year of growth. The study re-indexed Boulder, CO as being #44 out of the top 200 cities. Receiving an index score of 101.85 for job growth in 2009, Boulder scored the 19th highest in the nation and ranking 3rd for high tech gross domestic product.
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