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.