Financial Fitness - Your Credit Score - Free Class Offered!

Would you like to know more about credit scores? This class will answer your questions - what they are, who uses them, what actions on your part affect them, what is a good score or a bad score, what kind of score do I need to get a loan to purchase a home or car?

An expert from the Boulder County Housing program will be speaking on these topics to our agents, clients, family and friends.

Colorado Landmark, Realtors is pleased to offer a FREE 1-hour class to our clients and friends.

Wednesday, November 18th

9:00am

Snacks provided! Door Prize!

Please RSVP to Pam at pam@coloradolandmark.com and you will receive a confirmation email with the location of the class.

Danver Ranking means Good News for Boulder Real Estate, Boulder Jobs

Price Waterhouse/Cooper and the Urban Land Institute recently released a report detailing 10 national cities to watch with regard to commercial real estate recovery and growth. For the third year in a row Denver ranked in the top ten! Given the reasons cited for Denver's ranking it follows that the Boulder area plays a huge factor in the Denver area's economic health.

Why? Because the study specifically cited green initiatives as the main booster in the area's local economy and that the city is a national hub for alternative energy, wind farm manufacturing and natural gas. Many of the companies that play the biggest roles in these local industries are right in OUR backyard, in Broomfield, Golden, and even in Boulder proper, so Denver ... say a big thank you to the Boulder Area for your accolades!

Many of these energy industry companies are growing and expanding, which should be good news for our local employment figures. When companies hire locally and bring in talent from outside the area that provides a boost in consumer spending and real estate sales, thus increasing tax revenues for local municipalities. Conoco Phillips will have a significant impact on our local economy when they start staffing up their facility from 2012-2014.

For the full report click HERE, but if you just want some highlights, here they are. Denver was:

#10 - Multifamily and Commercial Investment

#9 - For Sale Homebuilding

#8 - Apartment Buy/Hold/Sell Recommendations

#8 - Office Property Buy/Hold/Sell Recommendations

#11 - Retail Property Buy/Hold/Sell Recommendations

#12 - Hotel Buy/Hold/Sell Recommendations

More news you can use from Colorado Landmark, Realtors.

Pam Metzger

Director of Relocation and Business Development

Colorado Landmark, Realtors

pam@coloradolandmark.com

twitter = @pmcolorado

News You Can Use - Tax Credit, Unemployment, Boulder Housing Market

If you read my blog you know that I will give you the straight scoop - no sales pitch or baloney here! If you dare, read on ....


As long anticipated, the House and Senate have both approved an extension to the homebuyers tax credit of 2009. The credit will now be extended to April 30, 2010. First time homebuyers will get a credit up to $8000 depending on income level, and veteran homebuyers who have been in their home for at least 5 years can receive up to $6500 depending on income level. The original tax credit was set to expire November 30th. Every realtor in the country is now going to be emailing their clients saying "now is the time!" Is it??


This IS good news for homebuyers who want to keep some cash in their pocket after their purchase. The other good news is that interest rates are still at near-record lows. I researched rates in Colorado today and for a $250-299k conventional loan with no points borrowers can get rates between 4.75-5.125% with varying fees. A jumbo in the $500-549k range will be at 4.875-6.4% with varying fees.


The bad news is that unemployment figures continue to be discouraging. At the national level CNN reports that we hit 10.2% in October 2009, the highest level reached since 1983 and indicating 22 straight months of declining employment. Worst case forecasts for the first two quarters of 2010 are in the 10.5% range. Among the hardest hit sector are teens ages 16-19 whose rate rocketed to 27.6% in October. Teens now have to compete with adults for jobs in industries like food service and retail, typically dominated by the teen demographic. Obama has signed a bill allowing the jobless to receive up to an additional 20 weeks of unemployment benefits which is sure to help out many households, even in our relatively stable and affluent Boulder area.


In Colorado we are hovering around a 7.0% unemployment rate. The state's unemployment figures for October will come out on November 20th. In our immediate area, for September 2009 Boulder County was at 5.5%, Broomfield County was at 6.6% and Weld County was at 7.5%. Some major area employers (IBM, Sun) have announced pending layoffs but it is unclear how many of them will come from our area. And of course our white knight Conoco Phillips is scheduled to bring jobs to our area but the initial build-out of 2012 is suspect, and could be pushed out by a couple years. That's a chicken we can't count until it hatches!


The term "jobless recovery" is being thrown about, but how our nation or our local economy can experience a real recovery without putting more people back to work is beyond me.


All that bad news being said, in Boulder (MLS sub-area 1) median home prices remain stable in the low-mid $500k range. Louisville (MLS sub-area 2) median home prices have jumped all over the place, ranging from $310-425k over the course of 2009 so far, coming in at $$324k in October. Longmont is steady in the low $200's. Superior is a robust market seeing median home prices range from $342k all the way up to $675k! Proximity to transportation, employment, open space, good schools, etc... continue to bolster the Louisville-Superior area's housing market.


So ... to buy or not to buy ... Speaking from purely my own opinion if you have some confidence about your employment situation and intend to stay in your house more than 2-3 years then this really IS the time to buy. And that's honestly not realtor-speak, because I am not one! The late fall-winter selling season typically gives buyers the least amount of inventory to look at, but the most negotiating power. The combination of the tax credit and crazy-low interest rates makes this a perfect storm for you (in a good way). If you have dreams of becoming a fix and flip artist though, think again. Probably too risky given that we don't know exactly where housing prices are going to go.


If you are a seller, consider putting your home, or keeping your home, on the market this winter. Yes, there are fewer buyers, but those in the market are serious. Relocation buyers (job transfers, life changes, etc...) are still out there too in addition to the local prospects. And your home will look so pretty decorated for the holidays! BUT (and there is always a "but") these buyers are going to be looking for a deal, if not a steal. If you want top dollar for your home then frankly don't list it. (And expect to wait until around 2014 to get your price! again, my opinion)



As a seller, if you have some room to negotiate and just want out, then price it fairly given it's condition, age, and location. Offer a buyer something for "free", like a view, or landscaping. How do you do this? Price it similar to a recently sold home or another currently listed home that perhaps didn't have your location backing to open space, or your soothing backyard pond. This way the buyer thinks they are getting a freebie. Let go of that "gotta get" mentality and the ego that compels you to want to get more than your neighbor did for their home. This is not time to worry about stuff like that. I have trained many of my agents on "price positioning" and we are seeing great results.


Stay tuned for more information and insights from Colorado Landmark, Realtors - your Boulder and Front Range experts.



Pam Metzger
Colorado Landmark, Realtors
pam@coloradolandmark.com
twitter = @pmcolorado

Roundabout Boulder - A Tutorial

I drive to work almost every day down Pine Street in downtown Boulder between Folsom and Broadway, and each day I realize how lucky I am to live and work in such a wonderful community. However, I think I might need to find a different route because almost every day I arrive at work irritated by drivers on Pine Street who don't know how to negotiate the traffic circles! After stewing about this for some time I thought ... why not take this opportunity to use our blog to educate and inform Boulder drivers on exactly how to drive through these little roundabouts. Then we'll all be safer AND in a better mood!

In some cities, small traffic circles have been constructed in the middle of residential intersections to calm neighborhood traffic. Occasionally, these small circles are called roundabouts or mini-roundabouts. Circles of this type are common in Seattle, WA and Boulder, CO. Definitions of traffic calming vary, but they all share the goal of reducing vehicle speeds, improving safety, and enhancing quality of life. What we have on Pine Street are known as traffic circles, not roundabouts. Per http://www.trafficcalming.org/ traffic circles are raised islands, placed in intersections, around which traffic circulates. They are good for calming intersections, especially within neighborhoods, where large vehicle traffic is not a major concern but speeds, volumes, and safety are problems. B efore the installation of these roundabouts on Pine Street one could observe cars blazing down the street in this otherwise quiet residential neighborhood.

The towns of Erie and Superior also have traffic circles, mini-roundabouts, or roundabouts, so if you drive anywhere in Boulder County it might be a good idea to be familiar with how to negotiate these traffic calming road features.

Okay, so now for the HOW TO portion of this post. The city of Overland Park, KS has a nice little .pdf on their website with a diagram that illustrates how to drive a roundabout. Click on the link to see for yourself or just read on ...

1. Slow down as you approach, be prepared to YIELD, and check the crosswalk for pedestrians and cyclists.


2. Look to your left and check for vehicles already in the traffic circle - vehicles already in the circle have the right of way. Wait for them to flow through and then when there is a gap in the circulation it is your turn, so go ahead and pull into the circle!
   
3. Once you are in the traffic circle YOU have the right of way. Herein lies my big pet peeve - if you are already IN the traffic circle, don't stop! Keep on moving (with caution of course). If you stop you cause a bottleneck for everyone. You don't have to stop and let new cars in the circle - why? Because YOU have the right of way - you were there first! Of course if there is an irresponsible driver who you think clearly intends to disregard traffic circle protocal then by all means slow down or stop to avoid an accident. Otherwise, keep on truckin'!


4. As you approach your exit put on your right turn signal, and then exit the traffic circle.

Now, what if you and another driver arrive at the traffic circle at the exact same time, but at difference entry points? According to SafeMotorist.com the driver on the left should always yield to the driver on the right. The same rules apply for traffic circles as for regular intersections. For instance, if you reach an uncontrolled intersection (i.e. traffic circle) at close to the same time, the vehicle who actually reached the intersection last is the driver who must yield the right of way. If you reach the intersection at the same time, the driver on the left should always yield the right of way.

Congratulations - You survived Traffic Circles 101. Happy driving Boulder!

Disclaimer - I am NOT an expert on traffic circles, or traffic laws in Colorado or anywhere else. For information specific to Colorado please consult the State of Colorado, Department of Revenue, Division of Motor Vehicles Colorado Driver Handbook. Page 16 has information on Right of Way. Content in this blog post was obtained via research on the websites mentioned or is my opinion only.

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
pam@coloradolandmark.com
twitter = pmcolorado

Fall Maintenance Tips for Your Home

Fall is officially here in Boulder, with our first true chill in the air! October in Boulder is beautiful and there is always something going on - school events, sports activities, CU Buffs games, and Halloween to name a few things. Don't get so busy with the fall fun that you forget stay on top of a few important home maintenance "to do's". Whether you are staying put for the time being or you are sellling your home and trying to keep it comfortable and in great showing condition be sure to make time for the following:

• Trim trees and remove dead branches. Bad weather and the high winds we sometimes experience here in the Boulder area can cause weak limbs to break, damaging property or causing injury. Consult a professional tree service for large jobs.
• Reduce energy costs by lowering the thermostat on your hot water heater to 120 degrees F.
• Make sure caulking around windows and doors is adequate to reduce heat loss.
• Replace the filter on your furnace and schedule routine maintenance with a qualified heating contractor.
• Change the batteries in your smoke and carbon monoxide detectors - time this to correspond with switching your clocks back in the fall, and then forward in the spring so you won't forget!
• Clear out gutters and downspouts on the exterior of your home to prevent the build-up of leaves and debris that can impede the flow of rainwater and cause water damage.
• Check your chimney for birds nests or other debris especially if you have a wood burning fireplace, and make sure the chimney cap is in place. Call a chimney sweep to perform maintenance.
• Be aware that mice will try to start coming in from the cold, especially if you live in or near a rural area, field, park or open space. There are numerous ways to trap mice, humane or otherwise. You will find many choices and expert assistance at McGuckin Hardware, Boulder's go-to place for pretty much everything since 1955.
• Consider repainting or staining and sealing your exterior doors to protect them from rain, snow, ice and wind. A $10 can of paint or sealant could go a long way to prevent damage to an expensive door.
• Cover your patio furniture, outdoor grill, portable firepit, etc... or move into storage.
• Drain and store your garden hoses, and have your sprinkler system blown out to prevent damage to pipes in freezing weather.
• Pull your refrigerator away from the wall and vacuum the condensor coils to prevent damage to the motor.
• Check your dryer exhaust tube and vent for built up lint, debris, birds nests, etc...
• Clean out your whole house humidifier and replace filters before heating season starts.
• Be prepared for weather related emergencies such as high winds, tornados, blizzards, or flooding. Organize survival kits and review an emergency escape or protection plan with your household.
  

Have a wonderful fall and enjoy everything our beautiful area has to offer this season!

Pam Metzger
Director of Business Development and Relocation
Colorado Landmark, Realtors
pam@coloradolandmark.com
303-443-3377