'30-Year mortgage rates fall below 4% for the first time'

For the first time ever, 30-year mortgage rates fall below 4%.  Not to be confused with 15year fixed-rates which hit a 50 year low of 3.26% a few weeks ago, the 30-year mortgages dropped below 4% for the first time in history.  The interest rate loan fell to 3.94% this week, the lowest rate since Freddie Mac began tracking it.

These record low mortgage rates can result in considerable savings for homeowners.  To show you the savings, take the 30-year interest rate from a few months ago, 4.6%, the difference between the 4.6% and the new 3.94% would decrease your monthly payment by $40 for every $100,000 borrowed.  Total your payments over the life of the loan and you would save almost $14,000 for every $100,000 borrowed. 

These drastic savings are why NOW is the most affordable homes have ever been.  If you look at it this way, for every 1% drop in interest rates, it will decrease your monthly payment by almost 10%.  Average that 10% drop over 30 years and that's a substantial savings.  Take the example above.  If you bought a home for $300,000, you would most likely put $50,000 or more down on the house, leaving a $250,000 mortgage.  If you could like in todays rate over the previous 4.6% your savings in payment over the 30 year life of your mortgage would total nearly $35,000.


If you are a homeowner or have been thinking of buying a home, and have questions about interest rates and mortgages, send me an email or give me a call.

Matt Ullrich
303.941.2452.mobile
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder, INC

'Green Living: Saving Energy This Season'

Fall weather is upon us and we find ourselves switching between the heater and the AC in the same day, driving up the costs of our utility bills.  Think green this fall and winter, save the earth and save your money.  Winter heating costs have risen in the last few years making it more enticing to go green and be energy efficient this year. 

You may all ready be thinking about going green to save some money, but how do I do get there?  Well let me tell you.  The first idea is to shop around electric providers.  Compare the rate per kwh and see if you could save money by switching companies.  The second idea if you have some money to spend is to upgrade your heating source.  Yes, there is a large upfront cost, but for most upgrades you will see the return on your investment in a few short years. Upgrades could be things around the home like installing energy efficient windows or upgrading to an energy efficient water heater.  You may even receive a tax credit for installing these upgrades.

Don't have the money to upgrade, don't sweat it.  There are easy tricks that are cheap to save some money on your bill.  On a cool night, walk through your house and find if there are and drafts coming from the windows, doors, or attic.  Then take a trip to your favorite local hardware store and pick up some supplies for a quick do it yourself fix.  You'll like yourself in January. 
You know how cold it gets during the winter, so while the days are still reaching the high 80's, look into fixing up some things around the home.  It will help keep some cash in your wallet.

Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder, INC

Funny real estate news: 'Having trouble selling your home right now? Make it more enticing'

A homeowner in Glenview, Ill is having problems getting her house to sell, so to sweeten the deal she bought $1,000 worth of booze to entice prospective buyers to take a second look at the home and emphasize the nearby nightlife of the town.  Full Story here. 

My Opinion: This certainly is an interesting incentive to make buyers think twice.  But there are a lot of homes on the market so how do you make yours more noticeable?  The first and most important rule is to have your home prices right.  That does not mean what the homeowner thinks it is worth, but what the market is saying people will pay for it.  Especially in this market when home values are hurting, prospective buyers are looking for VALUE in a home, which comes to my second point.  The second most important rule is if you are serious about selling your home, it needs to be presentable.  I'm not saying it needs to be staged but it will give you a huge advantage over the home down the street.  In today's market, especially, homebuyers are looking for that value and are looking for a home that they feel comfortable in and are ready to move into.  Lets say there are two homes on the market, both are priced correctly but home A is clean and staged, and B has 3 children and the house is a wreck...which home will sell?  -Getting back to the homeowner in Glenview, there are a lot of ways to make your home more vibrant to buyers, the $1,000 of liquor is a great idea.  Think of similar incentives to help your home be worth its value!


Matt Ullrich
303.415.2251.office
303.941.2452.mobile
ullrich@boulderco.com
RE/MAX of Boulder

'Increased Lending, Short Sales Necessary to Reduce High REO Inventories'

This has been a big question around the real estate world, what do we do with all of the real estate owned (REO) properties held by the government?  i.e. foreclosures.  After crunching the numbers and looking at the economics of the situation the solution is to continue to lend money and approve short sales.  (short sales are homes that are owned or in the process of being owned by the government/banks, they sell the home below market value to cover losses and get someone who can afford the home into the property).    The reasons behind continuing to loan and approve short sales are the negative affects of foreclosures.  When homes are foreclosed it is not just the homeowner that is hurt, but the entire community, the housing market, and the nation's economy.  By keeping the homes off the market in occupied the economy will have a better chance of improving.



Matt Ullrich
303.415.2251.office
303.941.2452.mobile
ullrich@boulderco.com
RE/MAX of Boulder

'A New Threat to Home Prices'

CNNMoney reports there is a new threat to home prices.  The threat is coming from a culmination of all financial issues facing Washington.  Between the growing national debt, the harrowing financial markets, and the weaning economic market, signs point to growing threat against home prices.  The issue: home mortgages will feel pressure on prices in high-end markets.  New loan limits are coming into play and these limits will mostly affect high-end markets and is said to affect 8% of the total U.S. housing market. 

You may be thinking, this will not affect me, this is only about high-end homes, wrong! If expensive homes stop selling, then prices for the houses under them will feel the pressure too.  As this issue will fall from high-end to low-end there is threat to the housing market.  Experts believe that President Obama will propose a major housing-related stimulus in the coming weeks as part of a broader economic plan.  May it be cutting conforming loans or creating more hurdles for 'jumbo' loans.

*related article here, CNNMONEY.com

Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder, INC

'The Way Appraisals are Sinking Real Estate Deals'

If you have sold a house recently in a depressed market than you are certainly aware of the current issue of appraisals.  In a down market home values drop and people sell their home below market value, appraisals are supposed to show/prove the worth/value of your home but if the homes around you are selling below market, this could mean trouble for you.  It is easy logic, but in order for an appraisal to take place someone comes out and inspects your home then, here's the kicker, they compare it to homes in the area that have recently sold that are similar to your home (comparables).  The problem is these comparables have been selling below market value in order to get the sale done.  The consequence is that your home is now taking a beating because the 'comparables', because they were sold below market value, now quality by association, your home will be appraised at a lower value.

What is going on here is a never ending cycle of bringing down home values.  The reason this keeps happening is before an offer is made a buyer gets an appraisal on the home and the appraisal comes in at $500,000 but the homeowner knows it is actually valued at $600,000.  The buyer knows that market says it is only worth $500,000 and will not make an offer higher than the appraisal.  This starts the cycle.  Now that the home dropped in value by $100,000, the next home will be brought down in value, and so on and so forth.  Currently there is no end to the cycle, the only way I see this ending is if buyers start paying over the appraised value or there is a second regulation in place to 'appraise' homes without bringing down the home values.

*for a similar article visit INMAN.com


Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder

'Mortgage Applications up 6.3% Last Week'

Last week mortgage applications rose 6.3% as many homeowners filed purchase applications or refinanced.  This rise in mortgage applications and be traced back to the record-low interest rates today.  With such low rates people are refinancing and saving big money.

The interest rates for a 30-yr fixed mortgage dropped from 4.23% to 4.17% and the average rate for a 15-yr fixed mortgage dropped from 3.41% to 3.4%.


Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder

RE news: '11 Fastest-Moving Real Estate Markets'

AOL Real Estate just released the 11 Fastest-moving Real Estate Markets.  Two Colorado cities made the list. Follow this link to see who made the list...


Slow, Tired, Gloomy day in Boulder. At least its already Wednesday.


Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder

Boulder News: 'Ball Aerospace wins $36 Million Job'

BCBR.com reported Ball Aerospace and Technologies have won a $36million contract for a missile launch program.

'Boulder-based Ball Aerospace will create the Moire Program, which will include optics and geosynchronous imaging that can help detect missile launches and track them, according to a press statement. The project will also include real-time video.
Of the work, 73.2 percent of the project will be done from Ball Aerospace's Broomfield location, according to the press statement. Other work will be done in Goleta, California, 17.2 percent; Livermore, California, 7.2 percent; and Huntsville, Alabama, 2.4 percent.'-Beth Potter

Ball Aerospace revenue has been growing rapidly over the last year citing a near 15% growth from last year.  An increase from $18.6million to $21.7 million, second quarter numbers.  The company has also finished their 160,000sqft expansion of their manufacturing center and started expanding their satellite manufacturing facility in Boulder.

*read the full article at BCBR.com

Matt Ullrich
303.941.2452.cell
303.415.2251.office
ullrich@boulderco.com
RE/MAX of Boulder

News: 'Time for a new 'New Deal''

This is just a great article about the current 'recession' and an interesting take with economic facts of today.  Its a good short read from Inman Real Estate News.  I hope you read it.  INMAN NEWS


Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

Boulder RE News: 'Boulder Home Prices Increase'

From the BCBR.com:  Boulder home prices have risen 4.1% in July, according to CoreLogic July Home Price Index.  Nationally prices jumped shot up in July, but at a lower rate averaging only 0.8%, and down 5.2% from July 2010.

Full story here


Matt Ullrich
303.941.2452
ullrich@bouldeco.com
RE/MAX of Boulder, INC

RE NEWS: 'Real Estate Prices Up, but Not For Long'

Inman news, reports that home prices have risen for the fourth straight month in July, according to the latest report from loan data aggregator and analytics firm CoreLogic.  This is good news, but experts have been weighing in that this is only a seasonal spike and come fall, we will see home prices dip once again.

This is nothing new, it is true that home prices tend to fluctuate during the seasons and this year is no different.  On a national average home values and average home sales price have risen significantly this summer compared to last summer, showing signs of market improvement.  Boulder, in particular has seen similar growth in that average home sales prices have gone up this summer over the 2010 summer.  However, the number of homes on the market continue to fall from previous years.  We have seen a trend that since 2006 the number of listings per month have followed the same declining trend year after year.

My thoughts:  I am optimistic and foresee this next spring being a huge turnaround point for the market.  I think that the economy will start turning around, some new government programs will be set up, unemployment will do down, causing people to be less afraid of the market and realized their home values will not magically jump back up to their unrealistic values from 2007.  These are the kinds of things that need to happen to turn the economy around.

read the entire article here


Tell me your thoughts?

Matt Ullrich
303.941.2452
ullrich@boulderco.com

NEWS: 'The Mortgage Fix That Can Save the Economy'

I stumbled on an interesting article today about a new type of loan modification program that has potential to save the economy.  Past loan modifications have only left us worse of and now banks are suing banks and the government is handing out money to corporations and now the people are standing up and fighting back, and with a brilliant sollution at that.

The idea is for a new loan program that instead of the government to lend out millions of dollars to banks, the banks will just reduce the amount of principal on loans.  The statistics are as follows:

"If lenders would reduce all underwater mortgages to their current market value, the nation's banks could pump $71 billion per year into the economy, create more than 1 million jobs annually and save families up to $6,500 per year on mortgage payments, according to The New Bottom Line, a collaborative of 1,000 faith-based and community organizations who want Wall Street held accountable for the mess it created."  -Ann Brenoff, AOLreal estate

The idea behind this is that by reducing people's loan payment, it allows them to spend their money on other things such as groceries, clothes, etc.  This would cause a spike in consumer demand and businesses would be doing better and lead to prosperity and jobs.

Tell me what you think, could this idea help revive the economy?


Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

*for the full article on this issue follow this link

NEWS: 'HUD Extends Deadline for Unemployed Mortgage Assistance'

A program designed to help the unemployed with mortgage payments to recieve interest-free mortgage payments has been extended applications through September 15th.  The program is  part of the HUD's plan to help the unemployed keep up with their mortgage payments.  If applicants mee the critereia of the application the unemployed homeowner will be allowed to pay off their mortgage interest free. 

Colorado is taking part in the service, so if you would like to know how to apply for the program or would like to read the entire article, you can find it here at HousingWire.com


If you have any questions please feel free to email or call


Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

News: 'Home Affordability Remains High'

Home Affordability is near record highs (which is a good thing)  This rating means that American families are buying homes within their means.  The National Association of Home Builders said the affordability of homes sold in the second quarter for 2011 was 72.6%.  The national median income is $64,200.

At a time of high affordability it means prosperity, homeowners are purchasing within their limits and with the historic low interest families are getting great deals on homes and will be well financed to make affordable payments.  Unfortunately, the high level of affordability has not turned into more sales, actually, the national average of home sales dropped 3.5% in July from June sales.


*If you want to read the whole story check it out on RealtyTimes.com



Matt Ullrich
303.941.2452
ullrich@boulderco.com
RE/MAX of Boulder, INC

West End Tavern Presents 'Warren Miller Wednesdays'

Tonight is the kickoff party at the West End Tavern.  They are getting ready for ski season by watching vintage Warren Miller movies (every wednesday night at 8:30) and featuring food and drink speacials all night.


They are also giving away door prizes from FlyLow, Patron, Christy Sports, etc.  Start thinking snow and come down the West End Tavern tonight and have some fun.


*find this event online:  Warren Miller Wednesdays


Matt Ullrich
303.941.2452
ullrich@boulderco.com

Boulder Farmers' Market

Its that day of the week again (Wednesday if you weren't sure), come down to 13th street between Arapahoe and Canyon, from 4-8pm.

*The Boulder Farmers' Market is a locally grown farmers market with all the gourmet fixins of veggies, meats, fruits, flowers, chesses, and even wines!  Its a great atmosphere and fun for the entire family.  Support local!


Matt Ullrich
303.941.2452
ullrich@boulderco.com

RE NEWS: 'US housing faces another plaguing issue'

Through all the ups and downs the housing market has been going through, one key issue is holding the market back from growing.  The market IS seeing lots of improvement from a year ago but that is just from housing activity and not the facts.  The activity in the market has been growing over the past year but the facts of the matter is that, nationally, we are not improving when it comes to home appraisals and valuation.  Home appraisals are the staple to the healthy economy and because of the past few years of poor valuation we are seeing the effects today...Here is why:

Before the housing bust, home appraisals were getting out of hand, making higher valuations than the property was worth.  This market characteristic contributed heavily to the housing bust, homes were jumping up 10-16% a year, when on an average year home values are to appreciate between 2-4%.  This spike in home values lead to the crash and the appraised values plummeted and over the past 3 years we have seen large de-valuation of homes where they were highly valued.


The home appraisals of today are the effects of the high appraisals and the low home values of the past 3 years.  What is happening today is that home valuations are turning up lower than the REAL value of the home.  What I mean by REAL value of the home, is that a home may actually be worth $500,000 BUT because of the low appraisals of the past few years, the home that has a REAL value of $500,000 will end up being appraised at a lower value because the appraiser does not have comparable homes to compare it to.  And if the appraiser does have homes to appraise it to, they are at a lower price because of the housing bubble bust and the home values of comparables that have sold recently are at a lower price, therefore, causing the home with the REAL value of $500,000 to be valued below its worth at say $450,000.


Now you may be thinking, ok, its valued at $450,000 but im going to put it on the market for the $500,000 because that the real price it should be appraised at.  The problem here is 99 out of 100 times a buyer will want to see the most recent home appraisal and if the appraisal says the home is worth $450,000 and not $500,000 (as listed) the buyer will not be willing to go above $450,000 on the home and will end up buying a house down the street and leaving yours on the market for a long long time.


This is a very interesting subject to keep track of, because until home appraisers can figure out a better system to appraise homes, we may be stuck in this downward appraisal turmoil for a long time.  The appraisal system has the power to turn the housing market around and bring things back to normal.
    *for a similar story please follow this link:  U.S. housing faces extra drag- low appraisals


I'd love to hear some comments on home owners/ home buyers/ home sellers, and what you think about all of this.

Matt Ullrich
303.941.2452.cell
ullrich@boulderco.com
RE/MAX of Boulder, INC

'Boulder Firms Top Best Work Places List'

The past week Outside Magazine ranked Boulder, Colorado the best place to work in the U.S.  This was only the fourth year for the poll but it is slowly picking up.  Out of the 100-150 companies that have taken place in the poll, this years list was the most competitive.  The ranking are as follows:

"Boulder-based Natural Habitat Adventures, a travel operator, is No. 1 on the list. Boulder-based Environmental Management & Planning Solutions Inc., an environmental consulting firm is No. 2, and Boulder-based Sterling-Rice Group, an advertising and communications firm, is No. 3."bcbr.com

For the entire article from BCBR.com follow this link.


Matt Ullrich
303.941.2452.cell
303.4154.2251.office
RE/MAX of Boulder, INC

Real Estate News: ‘Market Turmoil Leads to Even Lower Mortgage Rates’

A very poor start for the stock market this morning, dropping 400 points already has caused mortgage rates to hit the 50 year low!  A 30-year fixed loan has dropped from 4.32% to 4.15%, while the average 15-year rate fell from 3.5% to 3.36%.

Now is an excellent time to re-finance if you have been thinking about it.  It would be hard to believe that rates could fall any lower.  If you have been thinking about refinancing, feel free to leave a comment or contact me…

*For the entire article read here



Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, Realtor

Boulder News: CNNmoney releases the ‘Top 100 Places to Live 2011′ Guess who’s at the top?

Today, CNNmoney released their ‘Top 100 Places to Live 2011′ list, ranking 3 Colorado cities in the top 20.  The rankings are based on a combination of job opportunities, fiscal strength, top-notch schools, safe streets, good health care, cultural and outdoor activities, and nice weather.
HERE are the ranks for the three Colorado cities that made the top 20:

20. Superior, CO

Top 100 rank: 20
Population: 12,900
This former coal-mining town is a cyclist’s dream. Superior’s stunning mountain roads draw hundreds to the annual Morgul Classic bike race, and the town recently built a BMX bike park. Homes are more affordable here than in nearby Boulder, but residents have access to the same high-performing school district. Many of the city’s well-educated and affluent residents work in the tech sector, at Denver-area employers such as Oracle.
The second Colorado city is Castle Rock, CO, ranked #19: 

19. Castle Rock, CO

Top 100 rank: 19
Population: 37,200
With roots in mining and railroads, this affluent town offers an updated taste of the Old West. It boasts an historic downtown area, 265 acres of parks, and 44 miles of trails. Douglas County Rodeo comes to town each summer, complete with a fair and parade. And there are bargains to be had at the nearby outlet mall. The local economy is improving too. A manufacturer for wind turbine parts recently moved to Castle Rock, and officials have earmarked an economic development assistance fund of $5 million to bring new businesses to town.
…and the third Colorado city is Louisville, CO, taking the top spot at #1

1. Louisville, CO

Top 100 rank: 1
Population: 18,400
Unemployment: 6.3%
This sunny, lively mountain town is safe (crime rates are among the lowest in Colorado) and easy to navigate. Lots of good jobs in tech, telecom, aerospace, clean energy, and health care can be found right in Louisville, and more are on their way. And there’s world-class mountain biking, hiking, and skiing in the nearby Rockies. Real estate prices have barely budged since 2005, yet a typical three-bedroom house here still runs less than a comparable one in nearby Boulder. Its schools consistently rank among the top three academically in the Denver area.

Way to go Louisville!  I deal a lot of business in Louisville and would have to say it is one of the nicest towns I have ever seen.  Complete with  historical old town and new development, but at the same time keeping a sort of small town charm.  It is a booming city full of opportunity, and compared to Boulder it is much more affordable. 


Matt Ullrich
303.941.2452.cell
303.4152251.office
RE/MAX of Boulder, realtor

Real Estate News: ‘The Basics of Homeowners Insurance’

Are you a current homeowner, or looking to be one in the future?  Well then you are going to want to have Homeowners Insurance and I’m sure your going to be taking a lot of time searching for the right coverage.  Take a short cut and read this attached article to RealtyTimes.com and read their experts tips for picking out the right type of coverage for you.

*Read the article ‘The Basics of Homeowners Insurance’ here!


Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, realtor

Boulder News: ‘Lowe Alpine Coming back to Boulder’

Lowe Alpine, a backpack maker is moving back home after being bought out by parent company Equip Outdoor Technologies.  Lowe Alpine’s distribution and marketing will be relocating to Louisville by November 1st of this year. 

“I have long admired Lowe Alpine, and it has been an inspiration to me during the 20 years that I have been working in the outdoor industry,” Matt Gowar, Equip’s chief executive officer, said in a statement. While Equip is based in Derbyshire, United Kingdom, Gowar lives in Boulder.”

This is the second company that I have heard relocating to Louisville in the past few weeks.


Matt Ullrich
303.941.2452.cell
303.415.2251.office
RE/MAX of Boulder, realtor

Boulder News: ‘Geeky is Good?’

Boulder was recently voted America’s 2nd Geekiest City.  In a national search the U.S. National Science Foundation conducted its annual “Science and Engineering Indicators” report, and found Boulder to be a top producer.  To break it down, the geekiest city in America is the city with the tech and science jobs per capita.  Boulder was found second at 17.4% to be beaten only by San Jose, California with an 18.2% and the new title of ‘Geek Capital of America’.

*To read the entire Geek list follow this LINK.


Matt Ullrich
RE/MAX of Bouder, realtor
303.941.2452.cell
303.415.2251.office

‘Stock Market Takes Hit from Financial Stocks’

On Monday the Dow Jones Stock Market took a big hit coming after the New York Times reported a lawsuit from AIG to Bank of America.  The lawsuit is over $10 Billion dollars in damages from BofA for misrepresentations on mortgage-backed securities that AIG insured.  Following the release of the story BofA stock took a huge hit, dropping more than 20% closing at $6.52.  The stock market also took a hit after Standard and Poor downgraded the U.S. debt rating from a AAA rating to a AA rating, investors braced for a massive sell-off and prices plummeted.  Still holding strong, the price of Gold jumped $70 making the price of gold per ounce a whopping $1,721.
The Dow Jones fell 631 points, making it the sixth worst day of trading in the history of the Dow Jones Industrial Average.  Monday’s slide took down nearly every financial stock including JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley

My opinion:  This is not a huge deal, for this morning there has already been large turnarounds for investors buying off the cheap stock.  It will however cause another variable in the economy, staging off recovery until the stock market is corrected.


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Happy Monday, Summer Sets

Happy Monday everyone and enjoy the work week.  For many this is the last week of summer before the kids go back to school.  Make sure to take some time and make some summer memories. #Summerfun.

Matt Ullrich

RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Boulder news: ‘Boulder ranked 3rd for best place to live’

An article by the Wall Street Journal, under personal finance, has a brand new top 10 list of the ‘best places to live in the U.S.’.  Boulder was ranked third by ‘RelocateAmerica’ in this year’s annual Top 10 list.  Boulder was ranked 3rd because…

“Boulder is a stable community at the foot of the Rocky Mountains — and a city that is well-loved by its residents, said Steve Nickerson, president of RelocateAmerica. In addition to its picturesque scenery and opportunities for outdoor recreation, the city offers a variety of cultural attractions, according to RelocateAmerica”

We were beat out only to #1 Austin Texas, they have strong economic opportunity and cultural attraction, and #2 Grand Rapids, Michigan, for its solid schools, strong economy, and housing market.

*See the entire Top 10 list HERE!


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2254.office

Real Estate News: ‘Signs of Market Improvement, Mortgage Applications Rise 7.1%’

Hot off the press:  The Mortgage Bankers Association’s market composite index (measures the volume of mortgages nation wide) rose 7.1% over the last week showing signs over a healing market.  The increase in mortgage applications shows that people are still wanting to buy homes.  This is great news on the national level because it is showing strength coast to coast and when that happens banks, sellers, the economy, everyone feel the good effects.  GOOD NEWS!

Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

'Alfalfa’s doing well’

Local grocery store Alfalfa’s recent return to Boulder has done so ahead of projections.  After being open for about 10 weeks the organic and natural grocery store are seeing a growth of new and loyal clients filling up their store.

“You have to be mindful when you open a new store that … you take sales dollars from existing places. Our sales dollars come from other competitors here in town,” Retzloff said. “We know the neighborhoods surrounding our store are very happy that we’re back because they don’t have to go to 28th Street.”

Alfalfa’s doesn’t have big plans for the future, the owner says they are just working on getting back their customers from their 9 month absence.  SUPPORT LOCAL STORES!


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

Boulder CO: ‘RE/MAX ranks first among buyers, sellers in JD Power Survey’

From a survey of more than 3,680 buyers and sellers found RE/MAX to be ranked first overall for satisfaction.  Of the home buyers surveyed, RE/MAX was found to have the best satisfaction, as well, among home sellers RE/MAX took the top spot.  GO RE/MAX!


Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251.office

Boulder Real Estate News: Boulder Housing Market Statistics

There is so much information out there about the housing market and most of the data is on a national basis and can not be used for the City of Boulder.  Our market here is performing strides above everyone else and to show you, I have a few statistics about Boulder that show you the housing market here is moving in the right direction.

2011 Housing Statistics:
-The average sales price in June 2011 has increased 1.8% from June 2010, making a noticeable jump from $433,675 to $441,56.
-The average sales price of a single family home, in the 1st half of 2011, in Boulder is $672,073.  This is the highest average sales price in Boulder since 2007 at $674,592.
-The average sales price of attached dwellings, in the 1st half of 2011, in Boulder, has increase 6% from $251,503 in 2010 to $266,650 in 2011.  This is the highest average sales price of attached dwellings in Boulder over the past 8 years.
-The number of showings per listing is higher today, on average, than the last two years.
-Foreclosures in the first half of 2011 have decreased by 25% from this time last year.
-39% more contracts were written this June than in June 2010

As for RE/MAX of Boulder, INC. we continue to remain the strongest real estate office in Boulder with a combined 488 listings and sales, so far this year.  Our closest competitor, Coldwell Banker Residential 28th street, is clocking 200 combined.  RE/MAX also holds the highest sales in the area with 229, compared to the next closest, Coldwell, with 96 sales.

Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

‘Licious Organics’, Boulder’s own Raw Cookie company…mmm

I had the pleasure to meet the owner and founder of Licious Organics Lauri Wirichs, yesterday and was turned on by her delicious cookies.  Lauri and Licious Organics make THE BEST raw cookies around.  They are even made with ‘home grown’ honey and is 100% organic and deLICIOUS (get it).  The goal of the company is to take lead of the green movement and make a 100% organic product, meaning all food ingredients are pesticide free and additive free, as well the packaging is made from from a non-GMO, 100% compostable alternative to plastic.  Pretty neat concept.

So next time your out grocery shopping, support local companies like Licious Organics, you can find them at any local Whole Foods Market, Lucky’s Market, Alfalfa’s Market, Sunflower Farmer’s Market, and Online.

Visit Lauri and Liciousorganics online at:  liciousorganics.com


Matt Ullrich
RE/MAX of Boulder, realtor
303.941.2452.cell
303.415.2251.office

President of the Humane Society talks animal rights in Boulder

Wayne Pacelle, president of the Humane Society of the U.S. has been on a national tour to promote his new book “The Bond:  Our Kinship with Animals, Our Call to Defend Them” spoke at Barnes and Noble in Boulder last night.  This national tour is part of his campaign to grow the bonds/relationships between humans and animals.  Wayne has also teamed up with Michael Vick, the NFL quarterback who pleaded guilty to dog fighting charges, to lobby for a bill that would impose more strict penalties for spectators who bring minors to animal fights.

Be supportive of your local Humane Society and donate today!  <https://www.kintera.org/AutoGen/Simple/Donor.asp?ievent=317377&en=otKSL4NKI9INKZMDKfLWJbMRKdITI8POInJ2JiO2H>
Love,
Whiskers

Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251.office

Foresight vs Hindsight: Sell Now or Later?

Sell now or later?  A very popular question right now around the country.  Will things get better or worse?  Looking at Boulder and Colorado statistics for the second quarter of 2011, we are very on track with our sales, listings, and average home prices for this time of the year, however, the summertime is the highest volume of transactions of the year, with the most people buying and selling.  Come September/October the number of people ‘looking’ drops annually.  In my personal opinion Boulder and Colorado’s housing market has remained strong, and even though we are still at a low point the market is still functioning. 

People are scared to sell their house below what their purchasing price is, because they think they are losing money.  BUT the new home they are buying is also selling below their purchase price and you therefore come out even.  *The home you are selling is at a cheaper price, but the home you are buying is also at a lower price.  Everyone’s affected.

To answer the question of sell now or later, you will need to follow THIS link at RealtyTimes to read the full article.  If you have any questions about the housing statistics in Boulder or Colorado feel free to call or email me.


Matt Ullrich
RE/MAX of Boulder
303.941.2452.cell
303.415.2251

News: "Apartment Market Remains Tight"

The Boulder County Business Report says for the second quarter apartment vacancy rates in Boulder and Broomfield fell.  This is a good thing!  The vacancy rate for the second quarter was at 4.9% and fell to 4.6%.  Vacancy in Denver fell to 4.8%, which is the lowest rate in the greater Denver area since 2001 at 5.5%.

The lowest vacancy rate in Boulder was around the University of Colorado with a stunning 0.4% vacancy rate, while the rest of the city stands at 4.7%.  The median rent in Boulder and Broomfield counties is $969.13.  The median rent in metro Denver is $863.37.

What this means:  A fall in vacancy rates means that there is a growing demand and less supply.  It seems that more people are downsizing from homes and moving into cheaper apartment living.  This will pose a short-term threat to home sales in those counties but in the long-term it means there will be a large shift from apartment owners to home owners.

News: "How To Maintain Your Home's Resale Value"

In this market, resale value is very important in getting your home sold.  People today who are looking for a home, not only want to find a home for a good price, but instead want a home for a good price AND great value.  What is going to set your home apart from other homes on the market is the value of your home.  This comes from simple updating over the years.  It could be installing energy efficient windows, or updating that old oven and fridge that are 20 years old.  If you want your home to stand out it needs to have compelling aspects.  Think of it this way, people want a house they can see themselves moving into today and not a home where they walk into and say "I have to fix up the paint job, the kitchen, the flooring, etc." 


For more TIPS about maintaining your homes resale value read this article!

News: "Man Claims $300,000 Home for $16"

This has been all over the news lately, but if you have not heard the story, a man from Texas used his noodle to claim stake to a foreclosed home.  The Texas man cited the law of "adverse possession" to lay claim to the property.  Adverse possession is written to say, the owner of the property is no longer living here, (I) will occupy it for X period of time, and if the true owner does not fight the adverse possession within that time frame, then the 'squatter' will gain title of the property. 

You may be thinking it is unfair and illegal, but the main point behind adverse possession is the idea that the real estate is valuable and the government wants every piece of land to go to the 'highest and best use' of the property.  In this case the home was empty, a man said, "I will live there and maintain the home".  Because of this the government will not have to spend time and money to continue the foreclosure process and secondly in 3 years (the time the squatter receives title) will be paying property tax, both parties win.


For the entire article read HERE

News: "Health of the Real Estate Market"

It seems like there are articles written everyday by real estate newspapers and magazines that keep slamming the state of the economy and I just glance over it and do not put any more thought into the piece, however, this article by RealtyTimes really captured the national economy right. <full article>
Most of these articles blame the economy and the national debt issue, or that the summer heat is too hot, but not this one.  The author, Carla Hill, really dug deep and cited the Federal Reserve chairman Ben Bernanke and found the most important issue that has stunted the recovery of the market.  That stunt is not a heavy burden, but instead a common element in home buying that has been around since the housing market came about, and that element is a 'down payment'.


Yes, the biggest road block to the housing recovery right now is the 'down payment'; it holds the key to a recovery.  The issue at hand is potential homebuyers do not have funds to make a down payment and from a national survey, 82% say that is the largest obstacle in buying a home.  This is troubling news to hear, because homes have more affordable rates now more than ever. 
                    *for the entire article look HERE*


BOULDER:  For my Boulder followers, we have a different tale, the real estate market here has not been affected to the degree as most of the country, and comparatively we are in the 95percentile for best housing markets.  So do not feel down, we are doing fine.  If you have any questions or concerns, feel free to contact me.

News: "Chesapeake Buys Stake in Sundrop"

Local biofuel company in Louisville, Sundrop Fuels Inc., on Monday has signed agreements to receive $175million to build a "green gasoline" biorefinery.  The funds will come from Chesapeake NG Venture Corp. which is a subsidiary of Chesapeake Energy Corp., an Oklahoma based natural gas company.  Chesapeake holds a 50% stake in Sundrop Fuels.

Sundrop plans to build the oil refinery in 2012.  The refinery is expected to produce more than 40million gallons of gas every year!

What this means:  What this contract means is that Louisville, CO is going to see a BOOM in growth over the next couple of years.  This large investment will stimulate the economy, create jobs and opportunity for Louisville and the surrounding towns.


For the entire article read HERE!

News: "Concerns Shadow Real Estate's Buzz"

The Boulder County Business Report says "the Boulder area real estate market has approached a tipping point, and a recovery or another stall could be around the corner." 

Across Boulder real estate companies have seen a jump in activity so far this year and a handful of companies are seeing an increase of sales right now compared to this time in 2010. 

"We're at a point where if things continue in the right direction, the flood gates will open again," Gamble said, likening it to the environment about 10 years ago when the recession of the early 2000s ended.
The one big concern is the national debt debate.  Instability of the economy on the national level and if there is no resolution to the debt crisis people may become weary of spending/investing money right now.

For the entire article read HERE!

News: "When Buying A Home, How Much Can You Afford"

Are you in the stages of buying a home?  Then you probably have asked yourself this question, how much can I afford? 

Thanks to our friends at Yahoo Real Estate your question can now be answered.  Just follow THIS link for the entire article.

News: "Federal Housing Administration Eases Foreclosures Rules For Unemployed"

The Denver Post reports that the Federal Housing Administration will be lower regulation on foreclosed homes for people who are unemployed.  The FHA, starting on August 1st, will be extending the period for unemployed homeowners to miss mortgage payments to a full a FULL year from the previous 3-4 months. 

This does not mean that people do not have to pay their mortgage, it is instead a delayed foreclosure process to give unemployed people more time to find a job and make money to pay off their mortgages and keep their home.


For the entire article read HERE!

News: "Sellers Brace for New Mortgage Caps"

The Wall Street Journal reports new government regulation is soon ready to be enacted to lower mortgage caps, which means bad news for Sellers.  Three years ago the feds raised mortgage caps to $729,750, to help stimulate the economy and continue to encourage people to invest in the housing market.  However, new legislation wants to bring that number down saying the high cap is actually part of the problem and not the solution.  This is bad news for sellers because it means less people are going to be able to pull-out a large enough loan to pay for a home, which will lead to a drop in home sales.

This is not all bad news.  Yes, the feds are lowering the mortgage cap BUT it does not mean that that is the maximum amount of loans you may pull-out to make a deal.  There are other privatized loan, or second mortgages that allow you to receive the additional funding that you may need to purchase your new home.

For the entire story read HERE!

News: "Pending Home Sales Turn Around in May"

RISmedia.com reports that pending home sales strongly rose in May with all regions experiencing gains from a year ago, which points to a recovering market and pointing to higher housing activity in the second half of this year.

Read the entire article HERE!

News: "Boulder County Sells Old Farmhouse"

A couple days ago the Boulder County Commissioners voted to sell a parcel of property that was attached to a deal from April as part of a major open space acquisition.

The April deal included a 756 acre property which cost about $20.55 million and is said to be one of the largest remaining tracts of undeveloped land in Boulder County.  This acquisition also included the purchase of two ranches, totaling 70 acres for a price of $9,05million.

Boulder County Commissioners decided to sell part of a parcel with an old farmhouse to a lady for $322,000.  The property lies on N.63 Street.

News: "Get a Tax Break for Home Improvement"

Wanna know how to get a tax break on home improvements?

Homeowners today are weary to put money into their own homes, but did you know that home improvements can create tax breaks in the future?  This tax break is not short term, instead the added value from improvements make to your home allow for future tax benefits. 

Here is an example from inman.com:  Joe and Jane purchased their home in 1990 for $250,000 and it is now worth $1 million, they will have a $750,000 gain.  A full $500,000 of this amount is tax-free because Joe and Jane are a married couple and qualify for the tax exclusion.  BUT there is still $250,000 subject to taxation.  However, if Joe and Jane had spent $250,000 adding improvements to their home, they would have NO taxable gain.  This is because the $250,000 is added to the home's original value, which was $250,000.

To sum it up, if you add value to your home from improvements you will be able to deduct that added value from the gain-on-sale when you sell your home.  So do not be afraid to re-model that kitchen this summer, in the long-run it will pay for itself.

For the entire article, click HERE.

News: "Affordability Reaches Highest Level in 20 Years"

REALTOR.org reports that homes are more affordable today than they have been in the last 20 years.  "Nearly 75% of homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400."


Check out the entire article HERE!

News: "5 Real Estate Trends to Watch For"

Most people have been keeping a close eye on the real estate market waiting for the right time to buy/sell their home but the market has been shaky and with this roller coaster ride  for the past couple of years and we have all been thinking "maybe next year."  For those of you still undecided, here are some interesting market projections from some of Real Estate's most trusted advisors.

5 Real Estate Trends to Watch:
-Short term slump:  Yes, the market is down and it will not correct itself right away.  Do not expect prices to shoot back up, but they WILL move up.
-Overdevelopment:  Urban Sprawl is a big reason for the bust.  People kept building homes with the idea that demand will be there.  Thanks to the laws of supply and demand, Houses > People = lower home values.
-Jobs:  keep an eye on the unemployment rate in your area.  If it continues to drop you will notice that larger companies are moving out and into more stable cities.
-Lifestyle:  People are moving now more than ever to seek better opportunity, however, people move to places not only with better markets but better weather, leisure, or cost of living, which usually turns out to be the better markets.
-Government Regulation:  We have seen the government try to step in and fix the economy and there is legislation in place to help people forestall foreclosures, reduce mortgage debt, and help refinance to get back on their feet.


These are simple trends to note in a recession and if you play it right you can be successful in the housing market.

-Bill Allen
RE/MAX of Boulder
ballen@boulderco.com
303.570.9814

News: "Boulder to Receive Stimulus from HUD"

The Boulder County Business Report says that Boulder is to receive a grant from the U.S. Department of Housing and Urban Development (HUD).  The county is expected to receive $240,000 to put toward public housing, primarily for the elderly and people with disabilities to support their independent living.  The money will also help people obtain jobs in the workforce.

"The grant is part of a $31 million awarded nationally to public housing authorities, residential associations and nonprofit organizations across the US" -Doug Storum

For the entire article read HERE.

Matt

News: "Denver Home Prices Steady"

Inmnan news reports a steady value for homes in the Denver Metro area.  The numbers support the claim.  Good Information. Read the entire article HERE!

Denver "has never had the highs or the lows as the other markets have had. It always has been consistent," said Hank Bauer, an independent real estate broker who analyzes local housing statistics. -Gilbert Mohtes-Chan

...is this a good news or bad news?  Thoughts?


Matt

News: "Home Resales Slide 3.8%"

The Wall Street Journal reports that home sales for May dropped 3.8%.  The housing slump will only be fixed, and see growth, when buyers start trading up instead of tradding down.  As people continue to be weary about the market they continue to seek lower home prices and instead of "stimulating" the economy by purchasing a home, they are hurting the recovery for everytime someone buys down in home value it brings down the value of homes.  So instead of trading down, homebuyers need to trade up to stimulate growth. 

To read more about home sales follow the link: <http://online.wsj.com/article/SB10001424052702304070104576399481575600692.html?mod=WSJ_RealEstate_LeftTopNews>

News: What Real Estate Website draws the most hits?

InmanNews just posted an article analyzing the MOST visited Real Estate sites out there.  Yahoo Real Estate was ranked #1...follow this link to see the rest:  http://www.inman.com/news/2011/06/22/10-most-popular-real-estate-websites-in-may

News: "Go Green. Bike to Work Day in Boulder"

Did you bike to work today? 

More than 4,000 Bolderites, sign up for "bike to work day."  The event was founded in 1977, and is now part of a Bike Month that takes place all of June.  Register for the bike events or for more information go to http://www.communitycycles.org/.

News: "Walkscore.com Offers Advertising Space for Realtors"

Walkscore.com, a website dedicated to providing a "walkscore" for any location in the country.  A Walkscore is a rating that a LOCATION receives for its ability to walk to restaurants, coffee shops, shopping, schools, etc.  The higher your walk score the more likely you are able to walk to these places, in relation to people in surrounding areas.

But now, Walkscore.com is offering up advertising space to Realtors to give brief descriptions of a neighborhood for a low fee of $5.  This may become a growing trend, as young people stumble on this site often when they migrate, they look for as much information about a city and neighborhoods as they can.  If a 25 year old looks up Silver Creek on Walkscore.com and you bought the advertising space your picture, contact info, and description of the neighborhood would pop up on their seach...potential? You decide.




Any questions are welcome


Matt Ullrich
matthew.ullrich@colorado.edu

Quote of the Day, enjoy

"If you have nine dumb friends, you're bound to be the tenth one"
-Terrence Battle Jr.

Update: Been on Vacation

Dear Followers,

Sorry for the span of no posts, I have been out of town visiting family in St. Louis.  But my absence on Monday also stems from something else.  As of yesterday I have been put in charge of the entire social platform for RE/MAX of Boulder.  I guess my new title is "Head Social Media Director" or something like that.  My new responsibilities are include "playing" & "socializing" on all the major social platforms to spread the word of RE/MAX and how great we are.  So if you notice that I am always on Facebook and LinkedIn and Twitter, etc.  it is not because I have no life, but because I'm working.  This is a teenage girl's dream job!

*Keep following, I will post the links on this blog to all of the RE/MAX social media websites.


Matt