How about some good news for a change?

In crazy economic times like these, it's great to be finally hearing some good news about the market and the Boulder/Denver area is especially getting a lot of positive attention lately.

• Last week, Money Magazine voted Louisville the best place to live in America for the second year in a row. Superior was also on the list, coming in at #13. The criteria was based on factors like strong economies, great schools, affordable housing, low crime, and proximity to the outdoors and all that beautiful Colorado has to offer.


• Forbes also just listed Denver as #13 on their 2009 Best Places for Singles due to a fantastig restaurant/bar scene, a ton of popular sports teams (Denver Broncos, Denver Nuggets, Colorado Rockies, Colorado Avalanche), as well as incredible outdoor recreation options.


• The Denver Business Journal recently reported that even with a recession, the selling prices of homes are rising in some of the area’s most desirable neighborhoods, including Boulder, Louisville, and parts of Denver.


• The American Legislative Council just ranked Colorado #2 for economic recovery based on low tax rates, Colorado's Taxpayers' Bill of Rights and expenditure limitation.

All this news shows that even in a recession, the Boulder/Denver area is still a great place to buy a home. For more information about our company and how a qualified Realtor can help you find your perfect Colorado home, whether it is a condo in Denver, a single family home in Louisville, or a luxury home in Boulder, visit http://www.coloradolandmark.com/.

Posted by:

Jennifer Fly

303-506-0253

jenniferfly@coloradolandmark.com

Twitter: jenflycolorado

Important New Carbon Monoxide Detector Law

Effective July 1, 2009, the State of Colorado is requiring carbon monoxide detectors in many homes due to the passing of House Bill 1091 which was signed into law in March by Governor Bill Ritter.

The new law requires that sellers/landlords of homes or apartments provide carbon monoxide alarms near bedrooms, if the home has the following:

• a fuel-burning heater or appliance;
• fireplace; and/or
• attached garage.

Mobile and manufactured homes also are covered by the law. Landlords are required to install these devices any time there is a new tenant occupying a rental. The new law also applies to the construction of a new home or upgrades to an existing home. Alarm installation costs approximately $30.00.

Carbon monoxide is an odorless, tasteless gas that is very toxic and kills hundreds of people every year. Protect your family and make sure you have a properly working detector in your home!

For more information, feel free to contact your Colorado Landmark Realtor.

Posted by:

Jennifer Fly

303-443-3377

jenniferfly@coloradolandmark.com

Twitter: @jenflycolorado

What are you doing for the 4th of July?

There are so many options for fun this holiday weekend in the Boulder area!

FRIDAY JULY 3rd:

ERIE - Vista Ridge Independence Day fireworks at dusk – http://www.vistaridgegc.com/

SATURDAY JULY 4th:

ARVADA - Arvada’s Spirit of America Fourth of July Festival at Lutz/Stenger Sports Complex, W. 58th Ave., Arvada. Starting at 3 PM Classic car show, a military display, live music, family entertainment, great food and a fireworks display. 303-421-5305

BOULDER - Ralphie’s Independence Day Blast at Folsom Field. Gates open at 7:45 p.m. The program begins at 8 p.m. The fireworks display will be at 9:30 p.m. Additional event information can be found at www.dailycamera.com/boulderfireworks

BROOMFIELD – Great American Picnic and Bike Parade with pony rides, family entertainment, face painting, inflatables for the kids, a bike parade at 5:30 PM and fireworks at dusk. http://www.broomfieldrecreation.com/

DENVER – Coors Field - Colorado Rockies vs. Florida Marlins at 6 PM, Fireworks following the game around 10 PM http://colorado.rockies.mlb.com/

ESTES PARK - Fourth of July celebration with car show 10 AM – 3 PM on MacGregor Avenue between Elkhorn and Wonderview, patriotic concert and fireworks over Lake Estes at 9:30 PM. http://www.estesparkcvb.com/

JAMESTOWN - Fourth of July celebration with pancake breakfast at 7:30 AM, parade at noon, kids’ games, food and beverages, pie/cake contest, fireworks and live music all day. All proceeds benefit Jamestown Volunteer Fire and EMS departments. 303-429-1129

LOUISVILLE - Fireworks at Coal Creek Golf Course in Louisville - Fireworks start at approximately 9:15 http://www.louisvilleco.gov/Portals/0/Special%20Events/july42009.pdf

LONGMONT – Boulder County Fairgrounds - fireworks at dusk 303-441-3927

NEDERLAND – Barker Reservoir Parade at noon, fireworks at sunset http://www.town.nederland.co.us/

We hope you have a wonderful and safe 4th of July from everyone at Colorado Landmark, Realtors!

Colorado Landmark, Realtors

303-443-3377

www.coloradolandmark.com

New Lending Regulations May Affect Your Boulder Area Home Sales

We all know that the real estate market and the mortgage industry has been going through many changes. With past mortgage fraud leading to an all-time high number of foreclosures, the government is taking measures to prevent deceptive lending practices and ensure that buyers are better protected and informed. In 2008, the Home Ownership and Equity Protection Act (HOEPA) and the Housing and Economic Recovery Act (HERA) were passed by Congress, and the Federal Reserve Board published new regulations under the Truth in Lending Act. In addition, Fannie Mae and Freddie Mac adopted the Home Valuation Code of Conduct (HVCC), which will take effect July 30, 2009. These new regulations will affect several aspects of real estate closings.

• Lenders are now required to use an appraiser from a national pool of independent appraisers from around the country. In the past, lenders maintained longstanding relationships with local appraisers, and were sometimes able to influence the values in order to secure financing, which led to some appraisals being inaccurate. The intention of this new regulation is to put more separation between the lender and the appraiser to ensure fair, accurate appraisals. In reality, it also means that the appraiser who is evaluating a property may not be experienced in that specific market. Before the appraiser is scheduled to come to appraise a house, Sellers should have any documentation about the house that might be helpful in the valuation – receipts for work they have had done, a list of improvements they have made and special features about the house. This will help an appraiser who is less familiar with that area deliver the most accurate evaluation possible.
  
• Buyers are now required to receive a copy of their appraisals no less than 3 business days prior to the closing of their loan. The intention of this rule is to make sure they have ample time to review the appraisal and fully understand the value of the property they are purchasing.
  
• The earliest any home purchase transaction can close is 7 business days after the homebuyer is issued his or her initial Truth in Lending disclosures from the lender. These documents are typically given to a buyer at the time of the application, but if the buyer and lender don’t meet in person, the requirement allows extra days for mailing (e-mailing isn’t currently an acceptable form of delivery). Again, this insures that Buyers have time to review all the documents.
  
• Upfront fees that have been typically collected at the time of application can no longer be collected until the Truth in Lending disclosures are received, and the same rules apply as stated above – there needs to be time built in to allow for mailing of these disclosures unless the buyer meets with the lender in person.
  
• And lastly, any increase in more than .125% in the APR from the initial Truth in Lending disclosures (which can happen for a number of reasons, including a change in the loan amount, an un-locked rate or a re-lock in a rate, changes to fees, etc.) requires the disclosures to be re-issued and received by the buyer at least 3 business days before closing.
  

Ultimately, what this all means for buyers and sellers is that parties need to allow ample time between contract and closing to address all these issues. Working with a knowledgeable, experienced Realtor who is up to date on the latest rules will ensure that your transaction is structured appropriately to avoid any closing delays due to these new regulations. At Colorado Landmark, Realtors we strive to be up to date on the latest industry issues to provide exceptional customer service to our clients.

This article contributed by:
Jennifer Fly, Broker Associate
Colorado Landmark, Realtors
303-302-8823 (office)
jenniferfly@coloradolandmark.com
www.twitter.com/JenFlyColorado

Louisville Street Faire - Friday Nights in Downtown Louisville

If you are looking for a fun way to spend an evening this summer, check out the Louisville Street Faire! Presented by the Louisville Downtown Business Association, the Faire runs Friday evenings from 5:00 – 9:00 PM and is FREE! Every week there is great live music and booths with food, beverages, art, children’s activities, and more. Music Starts around 6:15, upcoming bands include:

June 26 - Pure Prairie League
July 3 – No Faire
July 10 – The Informants
July 17 – Hamilton Loomis
July 24 – Flash Cadillac
July 31 – Firefall
August 7 – Hazel Miller Band
August 14 – The Northern Way & Roe

For more information check out: http://www.louisvilledba.com/street_faire.htm

See you there!

Jennifer Fly

303-506-0253

jenniferfly@coloradolandmark.com