Press Release: Colorado Landmark, Realtors Wins International Marketing Contest

Boulder, CO – Colorado Landmark, Realtors is proud to announce it is the recipient of a Leading Real Estate Companies of the World® Marketing Contest Award. The award was presented March 10 at the 2011 Leading Real Estate Companies of the World® Conference at The Cosmopolitan of Las Vegas, an event that attracted 800 real estate brokers, managers, relocation professionals, sponsors and guests from across the U.S. and eight countries worldwide.

The award-winning entry in the Business Cards and Letterhead category was chosen based on creativity, quality and overall presentation and effectiveness. 

“We are delighted to recognize the member real estate firms that have showcased outstanding marketing, branding and promotional activities,” said Robin LaSure, LeadingRE vice president of corporate marketing. “Winning companies have distinguished themselves by providing useful information to home buyers in sellers in compelling and memorable ways.”

“We work hard to make sure our advertising and marketing materials represent what our company stands for – integrity, quality, excellence, expertise and service to our clients and community. We have been the Boulder area’s most powerful resource for distinctive properties since 1977,” states Pam Metzger, Director of Business Development for Colorado Landmark.

Colorado Landmark also received recognition for being a Peak Producer (sending one of the highest quantity of outgoing revenue-generating closings), the Million Dollar Club (for multiple referrals with an actual sales price of $1 million or greater) and the Momentum Club (for improving our company's Outgoing Referral Fee Split by at least two split levels from 2009 to 2010).


Colorado Landmark, Realtors is the local representative of Leading Real Estate Companies of the World®, the largest network of 600 premier locally-branded firms producing $250 billion in annual home sales. LeadingRE provides a broad range of brokerage services to its affiliates, including lead generation, branding support, luxury marketing through Luxury Portfolio International, web exposure and technology systems, and state of the art learning and credentialing.

For more information on Colorado Landmark, Realtors visit http://www.coloradolandmark.com/ or call 800-737-MOVE.

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About Leading Real Estate Companies of the World®
Leading Real Estate Companies of the World®  is the largest network of top independent local and regional brand-name brokerage firms in the residential sector of real estate. The 600 firms affiliated with Leading Real Estate Companies of the World® are represented by 5,000 offices and 150,000 associates in more than 30 countries worldwide. The organization's leadership is demonstrated by the fact that its affiliates comprise six of the top 10 real estate companies in the country. Collectively, LeadingRE affiliates produced nearly 1 million home sales valued at $250 billion in the U.S. in 2009. In addition, LeadingRE affiliates hold the Number One position in terms of sales or volume in more of the top markets than any other organization.

Top Ten Sales - Boulder/Broomfield Counties - February 15-28, 2011

At the recent Vectra Bank Business For Breakfast the Colorado economy was the prime topic.  One of the state's leading economists, Dr. Phylis Resnick from the Center for Colorado's Economic Future, says that we can expect to experience a "new normal" for the time being.  This translates to slower growth in most economic variables and slightly higher long-term unemployment rates. The good news is that Americans are saving again, with personal savings rates returning to levels not seen since the 1908's. Colorado real per capita personal income dipped a little in 2009-2010 but is forecast to see a slow but steady upward climb.  The bad news is that there will be a continued gap between Expenditures and Revenues for the State of Colorado with no end in sight.  This means our local communities will continue to be challenged to maintain the amenities and services we have been so accustomed to.


Approximately every other week Colorado Landmark provides detailed information on the real estate actvity in Boulder and Broomfield Counties from the past two weeks. Hopefully our analysis will help reveal what properties are selling, at what prices, how long they are are taking to sell, and other relevant information about what's going on in OUR local area - Boulder County and Broomfield County.

For the two week period from February 15 through February 28, 2011 here are the numbers:

•148 properties sold (compared to 197 for same period in 2010)
•Price range of properties sold during this period: $60,000 - $2,500,000
•Median price: $287,000
•Average price: $389,586 (down from $420,907 for last period examined)
•$0-199k = 34 sold this period
•$200-299K = 41 sold
•$300-399k = 24 sold
•$400-499k = 17 sold
•$500-599k = 10 sold
•$600-699k = 9 sold
•$700-799k = 1 sold
•$800-899k = 5 sold
•$900-999k = 2 sold
•$1.0-1.9M = 4 sold
•$2.0M+ = 1 sold

Top Ten Listings Sold during this period:

Information obtained from MLS and public record.

Each period's Top Ten numbers continue to point to the potentially fatal ramifications of over-pricing.  This period the glass-half-full view is that 5 of the top 10 properties examined sold for 90% or more of their original asking price.  The flip side of that is that the remaining five sold for 77.5% or LESS than their original asking prices.  The property on Bellevue Dr. sold for a dismal 56.8% of it's original 2007 asking price.  The key here is the 2007 ... it took 1000 days for this property to sell.  Now we expect that properties of this caliber can take a year or more to sell, but almost 3 years?  That's a total miss on the pricing mark from the get-go.  2539 Briarwood sold for 77.5% of it's asking price after a ridiculous 1334 days on the market.

The other part of the glass-half-full is that only NONE of the above properties sold for less than what the owners paid for it.  That is great news!  It is impossible to tell if these owners put in any improvements that would have increased their basis significantly, but if not then all of these lucky folks did a little better than break-even.  As I said last time, homeowners can't assume that their housing is going to be a big money-making investment - key word = housing, when it comes down to it that is what your home is.  Homeowners also should not be surprised if they encounter a few more realtors out there that are willing to turn down the opportunity to list their house.  You know a good realtor when they turn down your listing because you can't agree with them on price.  No amount of marketing and internet exposure can make up for pricing too far beyond what the market can bear.

Your takeaway here is the following advice on Selecting a Listing Agent: 

• If you are considering listing your home, interview at least 3 realtors.  Ask each about their experience selling homes in YOUR SPECIFIC neighborhood.  If they don't have it, show them the door.  What different skill sets do they bring to the table? How will they alter their marketing strategy if your home doesn't sell quickly?
• Ask each for an opinion of likely sale price and therefore best list price.  IMMEDIATELY throw out the high one.  Seriously!  Don't get sucked in to overpricing your home by a realtor that just wants another listing in their inventory and will tell you what you want to hear.  If you hear what you want to hear, consider that a big red flag. 
• Don't necessarily choose the realtor that you "like" best.  The goal here isn't to make a life-long friend, it is to sell your house, for the highest price, as quickly as possible so that it is the least inconvenience to you.

Until next time ...

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
800-737-MOVE
http://www.coloradolandmark.com/  
www.facebook.com/COLandmark  
www.facebook.com/365ThingsBoulder

Top Ten Sales - Boulder/Broomfield Counties - Dec 1 - 15, 2010 - Location, Location, Location

Our Colorado economy is still struggling but there are signs of improvement. The Denver Post reported this week on job growth in Colorado.  "The primary indicator for any state of economic recovery is job growth, and for the first time in three years, we have experienced three straight months of job growth here in Colorado," Governer Ritter said.  That's good news for housing, but we haven't seen that translate to much sales activity in the last month.  Not surprising though given the time of year, the holidays being traditionally slow for home sales in our area.  The true test will be to see if activity picks up in the February-March-April time frame.

Approximately every other week Colorado Landmark provides detailed information on the real estate actvity in Boulder and Broomfield Counties from the past two weeks. Hopefully our analysis will help reveal what properties are selling, at what prices, how long they are are taking to sell, and other relevant information about what's going on in OUR local area - Boulder County and Broomfield County.

For the two week period from December 1 through December 15, 2010 here are the numbers:

•132 properties sold
•Price range of properties sold during this period: $72,000 - $2,290,000
•Median price: $320,500
•Average price: $389,800

•$0-199k = 31 sold this period
•$200-299K = 28 sold
•$300-399k = 25 sold
•$400-499k = 24 sold
•$500-599k = 11 sold
•$600-699k = 2 sold
•$700-799k = 3 sold
•$800-899k = 1 sold
•$900-999k = 1 sold
•$1.0-1.9M = 5 sold
•$2.0M+ = 1 sold

Top Ten Listings Sold during this period:

Information obtained from MLS and public record.

This period's Top Ten numbers reinforce a very cliche real estate phrase - "Location, Location, Location"!

When markets are bad, especially at the high end, the attributes of location and condition become even more important to the successful sale of a property, and should be carefully analyzed when it comes to pricing a property for the market. 

Properties in highly desireable locations will hold their value in a down market more so than in other areas.  Two examples of this are the properties on Marine and Highland in this week's list above, both with terrific downtown Boulder locations. This is not to say that the other areas listed, like White Hawk Ranch, the close-in mountains, and Lafayette are undesireable, far from it; they are just less so to some buyers than others. The home on Marine St. was priced appropriately and went under contract in a mere 32 days and garnered 99% of the asking price.  The property on Highland Ave. took quite a bit longer to sell - 595 days to contract - but the sellers netted 83.3% of their original asking price, which in this market is not bad for any property priced over $2 million. 

Additionally, these two homes have the highest price per square foot at $492/sq ft for Marine and $592/sq ft for Highland, when compared to other homes on the list.  Several of the other homes have argueably more luxury features, larger lots, and are considerably more spacious yet yielded much lower $/sq ft.  Consider the home on Bitterroot Circle for example - same selling price as Marine, but at $227/sq ft.  The luxury home out in White Hawk Ranch sold for a mere $310/sq ft. 
(using finished square feet above grade for comparison purposes) 

The takeaways here for me are the following:

• If you know you will be somewhere for the long haul, then buy what you want, where you want.  But if there is a chance your plans could change in 5 years or less, consider the location of your next purchase much more carefully with an eye on desireability, walkability and popularity.
• Also, if you have a home priced over $600,000 you can expect the market to continue to be quite slow for a while.  Homes under this threshhold are still selling quite well though!

Happy Holidays everyone! 

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
800-737-MOVE
http://www.coloradolandmark.com/  
www.facebook.com/COLandmark  
www.facebook.com/365ThingsBoulder

Boulder-Denver Economy, OUR Nation and YOUR Real Estate - Part II

Any good real estate agent or relocation professional should stay on top of their local economic news as well as the news at the national level, and at Colorado Landmark, Realtors that's just what we try to do every week.  As I said in my previous post, last week I had the privelege of attending the Rocky Mountain Relocation Council's Fall Conference held at the Arvada Center.  My previous post was about national economic news conveyed to us by an economist from Wells Fargo Bank.

The second speaker of the morning was Cheryl Meyn from Denver's The Genesis Group.  Cheryl has an extensive background in Denver area real estate and spoke to us about economy in Colorado and specifically the 7-County Denver Metro Area.  Here are a few highlights from her presentation:

• Real estate overall:  If you look at the statistics, theoretically the Denver area real estate market bottomed out last year in 2009. 
• Unemployment:  Hovering around 8%, Colorado's unemployment rate is one of the lower rates in the nation.  We are experiencing a lessening of job losses which is giving the area economy some stability, but unfortunately not much in the way of job growth yet.  We have lost a net 45,000 jobs in this recession (at one point it was as high as 52,000) and it could take 3 years to recover from that.  Our area unemployment rate is not expected to go under 7% until late 2011.
• Mortgages and foreclosures:  18-20% of Coloradans are underwater on their mortgages, compared to 25-30% nationally, however foreclosure activity for 2010 is 10% below 2009 levels.  70% of all of the area's foreclosure activity is in Adams, Arapahoe and Denver counties.
• Housing inventory:  We have 3 years inventory of properties over $1M.  Local home builders have shown incredible restraint and we have little to no new construction inventory which has helped our resale market significantly
• Home Prices:  We have actually experienced a 3.6% increase in price activity in the last year.
• Housing Demand:  Pent up demand in our area is growing as we are seeing our population and # of households grow.  From 2005-2010 it was predicted that we would see a growth in households of 75,459 but the actual figure is 80,909.  From 2010 to 2015 we will see 80,952 additional households in our area.  Owner occupancy has declined from 66.7% in 2005 to 60.9% today and we have the lowest vacancy rates since 1994. 

So, what's in Colorado's future?  Housing will stay flat in 2010 and might improve somewhat in 2011.  Resales, which were down 8% in 2010 will see a rebound in 2011.  There are signs of improvement on the foreclosure front, and in-migration continues to be strong, with people still moving to Colorado.   All you have to do is check in with the national news media once in a while to hear various Colorado communities earning accolades for one thing or another, so it's no wonder people want to relocate here!

For Boulder County, the employment numbers are quite optimistic.  The most current numbers from the Bureau of Labor Statistics (for August 2010) put the Boulder Metropolitan area's unemployment at 6.4%.  Broomfield County recorded a 7.1% unemployment level for August 2010, so closer to the state level of 8.0% recorded for September 2010.

On the other hand, foreclosure activity is definitely catching up with our area.  According to RealtyTrac foreclosure filings in Boulder County were up in Sept 2010 with 234 filings, the highest number in 12 months.  The highest numbers were in Louisville (75) and Longmont (67).  Month-over-month price appreciation levelled out at 0.0%.  Only 29 foreclosure properties actually SOLD in Sept 2010 though.  Foreclosure activity is expected to rise, while the # of pre-foreclosure properties rose significantly last month from the single digits to over 60 properties.  The majority of the foreclosures are in the $100-300k range.  The foreclosures in our area don't necessarily translate to huge price savings for buyers -  10% in most of the county, with 20% in Longmont.

Broomfield County saw 52 new foreclosures in Sept 2010 and actiity is also expected to rise there.  Only 10 foreclosure properties actually SOLD in Sept 2010 though.  As in Boulder County, month-over-month price appreciation levelled out at 0.0%.  The majority of the foreclosures are also in the $100-300k range.

Pam Metzger
Director of Relocation, Business Development and Finance
Colorado Landmark, Realtors
www.facebook.com/COLandmark
www.twitter.com/COLandmark 
www.facebook.com/365ThingsBoulder

The Boulder-Denver Economy, OUR Nation and YOUR Real Estate - Part I

Any good real estate agent or relocation professional should stay on top of national economic news as well as news at their local area, and at Colorado Landmark, Realtors that's just what we try to do every week.  Last week I had the privelege of attending the Rocky Mountain Relocation Council's Fall Conference held at the Arvada Center. 

The first guest speaker was Dr. Scott Anderson PhD, Senior Economist at Wells Fargo Bank, based in Minneapolis.  His words about the state of our nation's economy and what that means for real estate on a national level didn't exactly bring smiles and fist-pumping enthusiasm to the room of about 75 real estate, mortgage, and mobility professionals.  A few brief highlights from his speech:

• The housing market will continue to underwhelm in the foreseeable future
• We are enduring one of the worst recessions since the Great Depression
• Overall loss of wealth during this 2.5 year period is $17 trillion, representing 20 years worth of savings
• 14% of mortgage holders are not making their payments
• The Chicago Mercantile Exchange is predicting national declines of 5% in housing prices
• The pipeline of foreclosure properties is still filling
• We currently have the highest federal deficit since World War II
• A national sales tax could be coming, as well as cut backs in Social Security

And that was the good news ... just kidding!  There really WAS some good news, but the question is, is that news good enough to sustain our economy going forward?  That remains to be seen.  Some positive notes from his speech:

• Corporate profits always lead job growth ... and they are now above pre-recession levels
• In Q2 2010 business spending grew 25%, which is not sustainable, but some measure of double-digit growth IS
• 1.5-2.5% growth in the national economy is predicted for 2011; when this number goes over 3% it will be enough to have a meaningful impact unemployment

Stay tuned - later today or tomorrow we'll post some notes from the other conference speaker, Cheryl Meyn from Denver's The Genesis Group who gave detailed economic info on our 7-county Denver Metro Area.

Pam Metzger Director of Relocation, Business Development and Finance
Colorado Landmark, Realtors
www.facebook.com/COLandmark
www.twitter.com/COLandmark 
www.facebook.com/365ThingsBoulder

Colorado Landmark Associate and Client Featured on HGTV tonight!

Colorado Landmark, Realtors associate Michelle Clifford and her client are the featured story on tonight's HGTV episode of My First Place!  If you are in the Boulder/Denver area tune in at 6:30pm to Comcast channel 39 or Dish Network channel 112.

In tonight's episode ... Michelle's client Ginny is set on buying her first place in only one Boulder neighborhood, but will her budget get her an updated older first place that's and problem-free? She discovers that with older homes often come bigger problems, which may leave Ginny with more than she bargained for. How much will Ginny compromise to get her first place within her favorite Boulder area zip code?

Michelle Clifford has been a sales associate with Colorado Landmark since 2006.  Her dedication to her clients can be seen in every transaction. She epitomizes professionalism and diligence. Her attention to detail ensures her clients receive the quality of service expected of a Colorado Landmark, Realtors broker.  Michelle's recent acquisition of the designations GRI, ePro, and RECS ensure that she is staying on the forefront of the changing real estate market.  Way to go Michelle!

Top Ten Sales - Boulder/Broomfield Counties - Sept 19-25, 2010

Our area's real estate market is still somewhat flat (yes, even in Boulder/Broomfield) but homeowners are bombarded by conflicting national news reports and statistics that make it difficult to discern what is really happening in OUR area. At Colorado Landmark, Realtors we are committed to knowing the local market and giving our clients and friends the most up-to-date and accurate information possible.

To that end, about every other week Colorado Landmark provides detailed information on the real estate actvity in Boulder and Broomfield Counties from the prior week. What is selling, at what prices, how long these properties are taking to sell, and other relevant information about what's going on in OUR local area.

For the week of September 19-25, 2010 here are the numbers:

•63 properties sold (up from from 58 properties 2 weeks ago)
•Price range of properties sold during this period: $46,000 - $1,019,000
•Median price: $310,000 (down from $290,000)
•Average price: $348,849 (down from $364,332)
•$0-199k = 15 sold this week
•$200-299K = 16 sold
•$300-399k = 11 sold
•$400-499k = 10 sold (up from 5 last period)
•$500-599k = 2 sold
•$600-699k = 5 sold (up from 2 last period)
•$700-799k = 1 sold
•$800-899k = 1 sold
•$900-999k = 1 sold
•$1.0-1.9M = 1 sold
•$2.0M+ = 0 sold

Top Ten Listings Sold during this period:

Information obtained from MLS and public record.

This week's statistics illustrate a depressing fact - today's selling prices have reverted to 2000-2001 levels in many cases.  And homeowners who purchased later than 2006 may not break even selling in today's market.  With transaction costs and seller concessions, this means that some sellers may even have to bring a check to the closing table - ugh! Activity in the upper echelon of the market has slowed down, after a fairly decent summer of sales in the $1.0-1.9 million range.  And as reported last time, if your home is priced in the $700-999k range, be prepared for a tough go. Homes in this "move up" price range are a difficult sell.  Consumers concerned about unemployment may not be willing to risk a leap now, despite the lowest interest rates in history.

The statistics illustrate the glaringly obvious fact that overpricing your home can be a devastating financial mistake.  The three properties above with the highest days on market are also the ones with the most drastic price reductions.  The property on today's list that was on the market for over 1900 days sold for 43% of the original list price.

Pricing is THE only way to compete in this market.  Sellers should consult no fewer than three real estate professionals for price opinions ... and list with the one who tells the hard, honest truth.  This is not a time to let anyone blow sunshine in your face about the price of your home.  Sorry Gordon Gecko, but in this market greed is NOT good.  The only explanation for 1900 days of market time is greed and a very poor pricing strategy.

Here's your takeaway for the week - price positioning.  Set a market price for your home and it will sell.  Case in point - the second property on the above list.  The seller knew they were not going to be able to sell for the price they purchased the property for in 2007, so they didn't even try.  They priced it to sell, and it did ... in 5 days.  Be that seller - realistic, brave, and smart.

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
800-737-MOVE
www.coloradolandmark.com
www.facebook.com/COLandmark
www.facebook.com/365ThingsBoulder

Top Ten Sales - Boulder/Broomfield Counties - Sept 5-11, 2010

There is volatility in the real estate market right now (yes, even in Boulder/Broomfield), and an abundance of conflicting news reports and statistics that maare potentially confusing to buyers and sellers. At Colorado Landmark, Realtors we are committed to knowing OUR local market and giving our clients and friends the most up-to-date and accurate information possible.


To that end, about every other week we will give you detailed information about the prior week's real estate actvity in Boulder and Broomfield Counties.  What is selling, at what prices, how long these properties are taking to sell, and other relevant information about what's going on in OUR area.

For the week of September 5-11, 2010 here are the numbers:

•58 properties sold (down from 81 properties 2 weeks ago)
•Price range of properties sold during this period: $114,900 - $1,500,000
•Median price: $265,000 (down from $290,000)
•Average price: $364,332 (down from $432,480)
•$0-199k = 13 sold this week
•$200-299K = 18 sold
•$300-399k = 10 sold
•$400-499k = 5 sold
•$500-599k = 5 sold
•$600-699k = 2 sold
•$700-799k = 2 sold
•$800-899k = 0 sold
•$900-999k = 1 sold
•$1.0-1.9M = 2 sold
•$2.0M+ = 0 sold

Top Ten Listings Sold during this period:
Information obtained from MLS and public record.

Looking over the last two reports of Top Ten on this blog, there are a couple of obvious conclusions. One, if you have priced your home in the $700-999k range, be prepared for a tough go.  If you are in the $800's it is especially rough.  Homes in this price range are difficult to sell right now.  For the Boulder area this is typically a "move up" price range.  It has historically been a tough price point to sell anyway, but with consumers concerned about unemployment it's even tougher for buyers to make that leap to "movin' on up" now.

The other obvious conclusion is that sellers still haven't gotten the message about overpricing their homes.  You can hire the best realtor in the area, with affluent connections, the most innovative and comprehensive marketing, and biggest web presence.  You can stage your house beautifully, keep it spotlessly clean for showings and open houses, and make it look like an HGTV showcase home.  But all that means nothing if you insist on overpricing it!  You don't need to give your home away, but you DO need to be realistic and toss both your ego and emotional attachments aside.

I am going to sound like a real broken record here, but again ... it doesn't take a rocket scientist to look at the chart and see that the five homes with the longest DOM are the five homes with the most drastic price reductions, from 21.8% all the way up to 62.3% off original list price.  Hellooooo ..... anyone listening?

Here's your takeaway for the week - It's time for tough love.  Instead of beating your realtor up about why your home hasn't sold, get their honest opinion (or one from their managing broker) about what it will take to price your home to sell in the next 90 days.  Listen, bite down on that leather strap, and just do it.

Pam Metzger
Director of Relocation and Busienss Development
Colorado Landmark, Realtors
800-737-MOVE
www.coloradolandmark.com
www.facebook.com/COLandmark
www.facebook.com/365ThingsBoulder

Boulder Four-Mile Fire Information and Resources

Here is a list of some websites that have good information on the Boulder Four-Mile Fire:

Boulder Office of Emergency Management - main page for emergency status, updated throughout the day
American Red Cross Disaster Update - day-by-day update of services that are being offered and what to do and what NOT to do in terms of volunteering, dropping off donation items, etc...
Boulder County Government Update Page - daily update of general affected areas, resources, map
Radio Frequencies for Emergency Services -  professional rescuer and amatuer listener radio frequencies used in Boulder County and surrounding areas are provided here.  Law enforcement frequencies are NOT provided.   Also on Radio Reference.
Updated Map of the burn area - provided by Boulder County
Updated List of Homes Damaged or Destroyed - provided by Boulder County
Official Drop Off Site for Donations - provided by Boulder County, plus list of items needed and what items will NOT be accepted
Public Information Resources - provided by Boulder County, information on services offered at the victim assistance center, numbers to call for evacuees, volunteers, etc ...
Information on Air Quality in Boulder County - health information for area residents on air quality issues as a result of the fires
Boulder Daily Camera Fire Coverage - links to all news stories from Boulder's local newspaper, links to live audio feeds, photos, photo submissions, #Boulderfire twitter feed, map
News Report on Fire - story on the fire, with list of links down the left hand side of the article to other other articles, resources, photos, etc...
Photos of Fire Area - Fox News Photo Gallery
Full Fire Coverage - Colorado Daily's coverage page, links to stories, photo galleries, videos, maps

For Evacuees and Victims:
Victim Assistance Center - provided  by Boulder County.  Address and list of services offered
Safe and Well website - site provided by the Red Cross to register yourself, search for family and friends
YMCA of Boulder Valley - page on the shelter set up at the Mapleton YMCA
Offers of Help - posed on the Daily Camera website, many people are offering housing, pet help, etc...
Boulder Humane Society - offering assistance for those with displaced pets - this is their page dedicated to info about that
Longmont Humane Society - also offering assistance for those with displaced pets, main page
How to Get Help - comprehensive list from Daily Camera
Forum for People Needing/Offering Help - from Sparkplace.com, a clearinghouse of offerings


Facebook Pages
Boulder County
Red Cross Mile High Chapter
Boulder Office of Emergency Management

Twitter Links - also check for posts using the hashtag #Boulderfire
Boulder County
Red Cross Denver
Boulder Office of Emergency Management
Colorado Division of Emergency Management
EPIC Colorado - CU research effort in emergency information
Boulder Police Department

How to help/donate:
Call 211 - this will connect you to the United Way's central clearinghouse for donations.  United Way is supporting the American Red Cross and the Salvation Army.  Most likely they will take down your name, contact info and details about what you would like to donate rather than give you specific instructions. 
Salvation Army - currently providing meals to the firefighters via a mobile kitchen and cold truck

American Red Cross - currently helping evacuees and victims by providing shelter, meals, needed items.  They are currently stating on their Twitter page that people should bring donation items to 3111 28th Street in Boulder, NOT the Mapleton YMCA.

Boulder County Volunteer Connection - volunteer information and referral center for Boulder County

Fight the Boulder Fire - central site for volunteer and donation information, plus live Twitter feed on everyone posting about #Boulderfire

Daily Camera posting site - post what help you can offer here in the comments section of this article

Citizen Action Team Relief Database - list of many organizations collecting donations, items, drop off sites, items needed

How to Help - comprehensive list from Boulder Daily Camera on ways to assist

Forum for People Needing/Offering Help - from Sparkplace.com, a clearinghouse of offerings

This is only the tip of the iceburg for resources and information.  As soon as we identify and additional set of resources we will post and update.

Top Ten Sales - Boulder/Broomfield Counties - Aug 22-28, 2010

There is volatility in the real estate market right now, and an abundance of conflicting news reports and statistics that may be confusing to buyers and sellers. At Colorado Landmark, Realtors we are committed to knowing OUR local market and giving our clients and friends the most up-to-date and accurate information possible.

To that end, periodically we are highlighting the week's real estate actvity in Boulder and Broomfield Counties, to let you know what is selling, at what prices, and how long these properties are taking to sell.

For the week of August 22-28, 2010 here are the numbers:

• 81 properties sold
• Price range of properties sold during this period: $89,500 - $2,495,000
• Median price: $290,000
• Average price: $432,480
• $0-199k = 19 sold this week
• $200-299K = 21 sold
• $300-399k = 12 sold
• $40-499k = 9 sold
• $500-599k = 5 sold
• $600-699k = 5 sold
• $700-799k = 1 sold
• $800-899k = 0 sold
• $900-999k = 2 sold
• $1.0-1.9M = 4 sold
• $2.0M+ = 2 sold

Top Ten Listings Sold during this period:

Information obtained from MLS and public record.





The message this week is pretty obvious - if your home is priced over $1 million and not priced correctly for the market, it is going to take a REALLY long time to sell!  The average days on market (DOM) for homes in this category for this week is 596 days, with 565 days to offer.  That is astounding in itself, but what is even more astounding are the drastic price reductions off of original list price.

It doesn't take a rocket scientist to look at the chart and see that the five homes with the longest DOM are the five homes with the most drastic price reductions, from 30% all the way up to 61% off original list price.  If that is not a call to action for sellers, I don't know what is!!

There is only one way to make sure that your luxury home doesn't take 600 days to sell and that is by employing what is called Price Positioning.  Take a look at other relevant active listings and price your home competitively as close to the bottom of that range as you can tolerate.  This plainly is not the time to be greedy.  Be the first home that a buyer in your home's category wants to look at.  If your price is compelling the buyer won't want to leave the house without making an offer for fear that someone else will buy it first.  Here's your takeaway for the week - Be THAT seller.

Pam Metzger
Director of Relocation and Business Development
Colorado Landmark, Realtors
303-443-3377
@pmcolorado
www.facebook.com/COLandmark

Top Ten Sales - Boulder/Broomfield Counties - Aug 9-15, 2010

There is volatility in the real estate market right now, and an abundance of conflicting news reports and statistics that may be confusing to buyers and sellers.  At Colorado Landmark, Realtors we are committed to knowing OUR local market and giving our clients and friends the most up-to-date and accurate information possible.

To that end, periodically we will highlight the week's real estate actvity in Boulder and Broomfield Counties, and let you know what is selling, at what prices, and how long these properties are taking to sell.

For the week of August 9-15, 2010 here are the numbers:

• 83 properties sold
• Price range of properties sold during this period: $110,000 - $875,000
• Median price: $360,000
• Average price: $386,986

 Top Ten Listings Sold during this period:

  

Information obtained from MLS and public record.

Clearly the high end of the market is taking a beating.  Bad news for sellers, but great news for qualified buyers looking for bargains.  

Takeaway for this Week - DON'T overprice your home!  Of course neither you or your realtor want to leave money on the table, but the Kelly Road property is a perfect example of what happens when you make the mistake of overpricing.  Your property sits and sits, and gets stigmatized.  When and IF it finally sells, it will sell FAR below what it might have if it was priced correctly to begin with.  My guess on this one is that it might have sold in the high $700's or even low $800's if priced appropriately in 2008.

Action Items, Do's and Don'ts -  Sellers: interview several listing agents, and tell them to give you the honest truth about what your property is worth.  And DON'T make them feel bad for being honest!  If you need to sell now, you can't afford to have someone blowing cherry smoke in your face.  DON'T list with the realtor who tells you what you hoped to hear (i.e. the highest price); instead DO list with the realtor who gives you the most concrete set of facts, has the most effective marketing plan, and sets realistic expectations.  Agree with your realtor to price position your property to obtain a sale in 90 days or less.

Pam Metzger
Director of Business Development and Relocation
Colorado Landmark, Realtors
@pmcolorado
@COLandmark
@365Boulder
www.facebook.com/COLandmark
www.facebook.com/365ThingsBoulder

Boulder - one of the best places to live in 2010

This week, RelocateAmerica released their 2010 Breakout Lists for the Best Places to Live in 2010. It's no suprise to us that Boulder made not one, but FOUR of the lists including:

• Top 10 Overall Cities
• Top 10 Earth-Friendly Cities
• Top 10 Recovery Cities
• Top 10 Recreation Cities - #1 on this list!

According to RelocateAmerica's website, Boulder was chosen because of the "unique quality of life" that Boulder residents enjoy. This includes the stunning natural beauty of the Colorado front range, access to parks and mountain trails, performing arts, fantastic restaurants, the University of Colorado and innovative economic and technological development. Of course our beautiful climate with close to 300 days of sunshine a year doesn't hurt either.

We are lucky to live and work in such an amazing place. If you are thinking of relocating to the Boulder/Broomfield area and would like to receive some relocation information, or if you have any questions about this wonderful place we live, please contact a Colorado Landmark Realtor or our relocation deparment at info@coloradolandmark.com.

Jennifer Fly

Colorado Landmark, Realtors

(303) 443-3377

jenniferfly@coloradolandmark.com

Twitter: @jenflycolorado

Credit Information EVERYONE Needs to Know

If you are thinking about buying a or re-financing now, or anytime in the future, one of the main factors determining your ability to qualify for a loan is your credit score. Understanding what credit scores mean, how they are calculated, and how to improve your score can make the difference in your ability to qualify for a loan and get the best possible terms and interest rates.

Credit scores range from 300-850. Here is how those scores are broken down:

780 and Above: Outstanding

740-780: Excellent

690-740: Good

620-690: Fair

62o and Below: Poor

Typically, the higher your credit score, the better loan terms you will be offered. People with scores below 620 will generally not be able to qualify for a loan.

Credit scores are determined by a number of factors including:

• Amounts owed
• Payment history
• Types of credit in use
• New Credit
• Length of Credit History

There are three major credit reporting agencies: Equifax, Experian, and TransUnion. These agencies may all have slightly different information, and they each use a different method to calculate credit scores, so your score will be slightly different from each one. Most lenders will pull credit reports from all three agencies when processing a loan. It is important that everyone checks their credit report at least once a year to ensure that the information is accurate and up-to-date. You can pull a free copy of your credit report once a year through the website http://www.annualcreditreport.com/. This website also offers credit scores, for a fee.

If your credit score has seen better days, there are things you can start doing right away to improve your score:

• Pay all your bills on time
• Work to get credit card balances below 25% of their limits
• Open new accounts only if absolutely necessary
• Lengthen your credit history
• Seek credit counseling through the National Foundation for Credit Counseling http://www.nfcc.org/
• Opt-out to stop receiving new credit card offers through http://www.optoutprescreen.com/ or call 1-888-567-8688

In Boulder County, we have a fantastic resource for anyone who is thinking about buying a home and has questions about credit or related items. The Boulder County Housing Counseling Program offers free housing counseling and classes http://www.bouldercounty.org/hhs/housingcounseling.htm. These services are available to residents of Boulder, Broomfield, and western Weld Counties.

Brought to you by:

Jennifer Fly

Broker Associate

Colorado Landmark, Realtors

(303) 443-3377

jenniferfly@coloradolandmark.com

Twitter: jenflycolorado

Boulder, CO #1 Strongest Housing Market in the US, Few Foreclosures

Boulder has received LOTS of great press lately, and for that we are always thankful. If any of you read my blog entries you know that I love it when Boulder or any of our surrounding communities makes it into a ranking or national survey. But I just read a local competitor's blog that stated "What recession? Move to Boulder! Living here is simply the best!" Not to be a "negative Nellie" here, but the recession IS still alive and well here in Boulder. Enough propoganda! Although we have definitely fared better than many other parts of the country, our economy does seem to have lagged behind the rest of the country by 12-24 months, going into the downturn, and it will be in the recovery too.

A very recent and much twittered and blogged about Business Week article touted Boulder for its strong housing market. Boulder is the #1 Strongest Housing Market in the US! 60% of the homes in our market have increased in value during the past year, and the city of Boulder's median home price rose 2.12%. Reasons? Big limits on development and growth within city limits (thus constriction of the housing supply), the University of Colorado providing a constant source of jobs and new energy to the town, and of course the area's incredible natural beauty.

What people aren't buzzing about on blogs, Twitter, etc... is mention in the same article that our local economy HAS slowed, and that while our housing marketing is STRONG, it isn't necessarily affordable. I'm not trying to rain on anyone's parade, but I am trying to be honest. I am grateful every day that I live in the Boulder area, but I have lived here long enough (15+ years) to be congizant of its drawbacks as well as its attributes.

Two things have been tough to find in Boulder in the last 12-24 months - foreclosure properties, and jobs. I get referrals for out of the area buyers frequently, and everyone I speak to believes they can find a foreclosure property in Boulder and get a screaming deal. You certainly CAN in other parts of the country (Florida, Michigan, California, etc...) so why not Boulder? If you are looking in one of the outlying areas like Longmont, Lafayatte, Erie you may indeed be in luck. But if you are looking in Boulder proper ... think again. That cute single family Victorian style home, walking distance to downtown and nearby trails, with a gourmet kitchen and spacious yard simply doesn't exist in Boulder for even $450,000 in most areas, and certainly not for $250,000, which is the number buyers tend to throw out at me when I get their initial call. However the Daily Camera reported Friday that foreclosure filings are on the rise in Boulder County - 17% in the second quarter and foreclosure sales increased 33%. We still have the lowest foreclosure rate in the Denver metrol areas at 1 per 540 households, compared to 1 per 169 households in Denver County and 1 per 197 households in Douglas County. But that being said, the Boulder County public trustee's office figure's show that the county's foreclosure filings don't seem to be slowing down, so attention bargain hunters - don't give up yet!

As for jobs, as of June 2009 the Colorado Department of Labor and Employment was reporting an unemployment rate of 6.6% in Boulder County. While you might say "Well what's wrong with that? That's fantastic!" remember that a significant population living in Boulder works elsewhere. Unemployment rates in other surrounding counties aren't so good - 7.5% in Broomfield, 8.5% in Denver, 7.5% in Jefferson, 9.0% in Adams, 7.7% in Arapahoe counties and 7.8% statewide. And these figures are about 2-3% points above where they were 2 years ago.

So my answer to my competitors who blow sunshine all over the place and say "What recession?" - I answer with THIS recession - it is still affecting Boulder County and may continue to do so for the foreseeable near future. Is Boulder still a phenomenal place to live - DARN RIGHT! Is real estate in the Boulder area still a wise investment - ABSOLUTELY! As long as you aren't expecting to buy and flip over the short term, real estate in Boulder is as close to a "sure thing" as you can get, especially if you look at it from the perspective of housing, and not the source of a quick turnaround buck. No brainer alert!

So it's a great time to buy, but what does this mean for home sellers? Do not under any circumstances overprice your home - price it competitively and fairly, or even better than fairly, and don't think you will be able to squeeze every last dime out of it in this market, or it will sit, and sit, and sit on the market. When it finally sells it will sell for LESS than it would have if you have priced it correctly to begin with. We may not see full market recovery until 2012, so if you do not need to sell then wait. If you do need to sell, price it right to begin with. Consult a reputable real estate professional with experience and success listing and selling homes in YOUR neighborhood who can provide analysis (key word here) and recommendations for pricing. Price it to sell within 90 days - you don't want it to sit.

Do you want the propoganda, or do you want the facts? I never promised anyone that I would be "glass half full" all the time. But I have promised that I will always be honest and straightforward about our community and our market, and that I will try to provide our clients with the best information possible to assist in their decision making. And really, isn't that what you want in a real estate company?

Pam Metzger

Director of Relocation and Business Development

Colorado Landmark, Realtors

pam@coloradolandmark.com

www.twitter.com/pmcolorado

303-302-8839 (direct)

Boulder Real Estate Company Expands Reach to French Riviera!

David Scott of Colorado Landmark, Realtors in Boulder is a lucky fellow ... he is fortunate to split his time living in two incredible locations - Boulder, CO and France! Dave recently leveraged his considerable experience and international connections and has sold a luxury home in Port Grimaud, France for €1.3 Million, or about $1.85 Million.

At Colorado Landmark, Realtors we are very fortunate to be affiliated with the Luxury Portfolio Fine Property Collection. Luxury Portfolio was launched by Leading Real Estate Companies of the World in 2005 and in the very first year it's award-winning website, http://www.luxuryportfolio.com/, featured more $1 million-plus properties than any other luxury real estate organization. Today Luxury Portfolio represents over 17,000 of the world's most remarkable properties. Luxury Portfolio is a major player in the global arena, with properties in 24 countries, website visitors from over 200 countries, site translation in nine languages, and conversions for 60 currencies. With over 45 states and 24 countries represented, their total inventory of properties exceeds $39 billion. Using Colorado Landmark's affiliation with Luxury Portfolio, Dave Scott was able to list, market and sell a beautiful property in France near the French Riviera.

Dave recently sold this charming Maison de Pecheur (or Fisherman's House) in the village of Port Grimaud, France, where every home has direct access to the Mediterranean. Port Grimaud began in the 1960's as the dream of French architect Francois Spoerry. His dream was to create a private lagoon city with waterways in place of roads, where yachts could be docked in front of the owner's homes. The village was designed with traditional Provencal architecture and looks like an authentic centuries-old coastal village. Originally planned for 900 dwellings it has grown to over 2200 dwellings over the past 40 years. Port Grimaud is located in the south of France at the head of the Golfe of Saint-Tropez, equal distance from Saint-Tropez and Sainte-Maxime.

As a long time Boulder resident, Dave has seen Boulder from multiple perspectives - as a student, a corporate employee, a business owner and realtor, a homeowner and a parent and grandparent. Dave strives to provide his clients the best service possible and is constantly working to enhance his knowledge and expertise. He recently earned the EcoBroker® and TRC (Transnational Referral Certification) designations. He also recently completed his course work for both the CIPS (Certified International Property Specialist) and ABR (Accredited Buyer's Representative) designations. On his website you will see that Dave's clients are understandably generous with testimonials to the level and depth of the expertise and service he provides in the Boulder area. With his international experience and contacts Dave can also guide clients through the maze of rules and regulations that govern property purchases in France.

At Colorado Landmark, Realtors we are proud that Dave Scott is a member of our wonderful team of broker associates, and we congratulate him on this incredible accomplishment. If you would like more information on real estate in Boulder or in France Dave Scott would be pleased to assist.

David Scott

Broker Associate

Colorado Landmark, Realtors

http://www.boulderrealestateinfo.com/

303-443-3377 x250

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

What's in a Sign? Choosing the Right Listing Agent to Sell your Home.

The spring selling season is well upon us, but perhaps you are still in the process of putting your house on the market for sale and wondering how to choose a listing agent. Today’s consumers have almost unlimited options when it comes to selecting a real estate firm for the sale of their property. The purchase or sale of a home is about the experience of the transaction and performance of the real estate professional as much as it is about the property itself. As such the selection of the right real estate professional is of the utmost importance. Colorado Landmark, Realtors recommends that anyone looking to select a real estate firm consider the following five important criteria.

1. Have the right network connections.
2. Demonstrate a proven track record.
3. Have a property marketing program.
4. Be invested in resources.
5. Specialize in luxury (IF your home qualifies as a luxury property)

The Right Network Connections
It is important to evaluate what the individual realtor's or company's name or connection actually represents with regard to local sales statistics as well as strength on a global basis. For example, Colorado Landmark is a member of Leading Real Estate Companies of the World®, as well as two global luxury marketing programs, The Luxury Portfolio Fine Property Collection™ and Christie’s Great Estates®.

• Leading Real Estate Companies of the World® is a major real estate network comprised of the best locally and regionally branded residential firms selling nearly $370 billion in homes annually, more than any national franchise brand.


• The Luxury Portfolio Fine Property Collection™ , the luxury marketing program of Leading Real Estate Companies of the World®, sells more $1M+ homes each year, has more top sales associates, and has more of the top listings in the country than any other real estate organization.


• Christie's Great Estates®, a wholly owned subsidiary of Christie's, the world's oldest fine art auction house, was established in 1995 and is the largest network of real estate brokers dedicated to the marketing and sale of important properties.

Demonstrate a Proven Track Record
Choose a firm that has a proven track record in dealing with properties in your specific neighborhood and price category – a firm that has done this before and has existing clients that you can contact for references. You can always see what properties a firm is marketing and make sure that the firm you choose is entrenched in the marketplace, working with other similar buyers and sellers.

Have a Property Marketing Program
All firms can “run an ad” or put a sign in your yard, but the effectiveness of that promotion and the overall marketing program needs to be evaluated. In this challenging market, it’s not about more marketing but marketing differently. The firm that you choose needs to have access to the right buyers – and target their program to reach those buyers. The web is just as selective and effective marketing dictates being on sites that attract the right consumers, not necessarily the masses. Today, the mix of websites should include those attracting local and regional customers on a global basis, as this is the key to finding the right buyer for your home.

Be Invested in Resources
All real estate firms are licensed to sell all properties, but it is important to choose a firm that has invested in the resources it takes to successfully market properties. Every home needs to look its very best, and in this challenging market it is even more critical that the home appears to offer the best value for the money. This means finding a firm that can consult with you to improve the salability of your home. The firm should also assist in the process, recommending efficient solutions to correct any issues through their network of service providers and resources.


Specialize in Luxury (if applicable to your home)
In the Boulder area a luxury property would typically be one priced over $900,000, although there are some homes that would be considered "luxury" in eastern parts of the county in the $800,000 range. Big firms and national franchises are not necessarily better; a boutique marketing organization within a large firm or a local single office firm that specializes in luxury is probably best suited to handle the individual marketing needs of a luxury customer. Every luxury home is unique and individual – typically because it was designed and built for the needs of a very exacting individual with very unique and specific requirements. It takes a educated real estate professional who does not use an “off the shelf” approach, but rather understands the needs and sees the unique features of the home that actually make a difference in the lifestyle of the owner and future buyer.

So ... What to Do?
Just because you see someone's signs in a lot of yards it doesn't mean they will be successful selling YOUR home. Find out if the realtor works independently, with a partner, or with a large team. Decide how much personal attention you want and need from your realtor. Do you mind if you see them at the listing presentation and then never again? Is it okay if your main point of contact is their assistant? Do you want your realtor to check in with you on a weekly basis - hint ... they should! Are they stuck in a rut of newspaper ads, or have they migrated to a multi-faceted marketing approach that includes heavy internet presence?

Boulder has one of the highest numbers of realtors per capita than anywhere else in the country! Everyone in town seems to know at least 2-3 realtors! Decide if you are comfortable sharing your personal and financial information with a friend, or if you prefer to work with someone less closely connected to your circle. There are pros and cons to both scenarios, although many people swear by the tenet "business and friendship don't mix". Go with your instincts and prior experience and do what feels comfortable to you. A good friend will have your best interests at heart and should understand if you choose another realtor. If you decide not to work with a friend, then let them refer you to a colleague that they know and respect.

Ultimately your home selling experience should be as stress-free as possible. Sure ... it IS stressful to keep your house clean and ready for showings at a moment's notice. However, if you are confident that your listing agent will successfully guide you through the process from preparation and staging, to a multi-faceted marketing campaign, to contract negotiations, and finally to closing the transaction, your home selling experience can be a good one.


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