Happy March!
Today feels a bit like Spring in many ways. The Colorado sun is warming me up and there is a buzz of activity
in the Four Star Realty office. The number of listings typically increases in March and April and we are seeing that once again.
It's still a great time to buy, especially if you are a first time home Buyer or a "move-up" Buyer. Buyers have a few
more months to take advantage of the federal tax credit.
Do you love where you live? Me too! Boulder ranked No. 1 in overall well-being out of 162
large and medium-sized cities in a new Gallup-Healthways poll. Denver is listed as one of the top cities where it’s
smarter to buy. Read more below.
Have a great month in beautiful Colorado. As always, call me if I can be of assistance to you, your family,
or your friends in our dynamic local real estate market.
Michelle |
 Case-Shiller home price index and 7 months of home price increases.
In December 2009, home prices rose for the seventh straight month. Granted the increase wasn’t but only .2% from November 2009, it’s still leaps better than the sometimes double-digit declines some areas experienced in the past. Home prices were still down 3.1% from December 2008, but officials had estimated a 3.2% decline from 08 to 09.
Denver is included in the 20 city composite and saw a 1.2% increase over the past year.
In The News: Boulder and Denver......
Boulder rated happiest, healthiest city in U.S. in new Gallup poll
Happiness is living in Boulder, if you believe the results of a new Gallup-Healthways poll. Boulder ranked No. 1 in overall well-being out of 162 large and medium-sized cities. It also topped the list in work experience, rated No. 4 in healthy behaviors, No. 7 in physical health, No. 10 in access to basic needs for a healthy life and No. 27 in emotional health. Read More: Daily Camera post 2.15.10, Vanessa Miller
Denver One of Top Cities Where it’s Smarter to Buy
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities, per Forbes magazine. Read More
 Home Sales on the Rise, Take Advantage of the First Time Home Buyers Tax Credit Now! Strong gains in existing-home sales were seen in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors®.
The West experienced a 16.2 percent increase in existing-home sales, posting an annual rate of 1.38 million units. On a year-over-year basis, resales in the region were up 18.2 percent. The median existing single-family home price in the West did decline 8.9 percent from a year ago (to $227,200), but many metros showed price gains.
The time to buy is now: Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Another indicator that home sales are on the rise:
Properties recently listed by FourStar Realty that went Under Contract in 10 days or less
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3460 Colorado Ave B13
$194,500
Boulder, Colorado
Under Contract in 1 Day
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1453 North Street
$444,900
Boulder, Colorado
Under Contract in 6 Days
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1645-1647 7th Street
$435,000
Boulder, Colorado
Under Contract in 1 Day
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730 Copper Lane 202
$169,900
Louisville, Colorado
Under Contract in 10 Days
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874 9th Street
$639,000
Boulder, Colorado
Under Contract in 5 Days
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805 29th Street, 506
$295,000
Boulder, Colorado
Under Contract in 8 Days
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Bid-Ups on Purchases
As we start turning the corner and find decreased inventory for houses, bid-ups will start happening with more frequency. Here are two basic scenarios that can happen, and how most lenders will accommodate them.
#1 A house is listed for sale at $300,000, but the sellers find themselves with multiple offers, and opt to take the highest. In this case, since the house is selling for over listing price, the lender will only accept the loan if the buyer provides one of two things…a letter from the listing agent saying they accepted the highest offer, or in some cases, the actual copy of the other offers that were not accepted.
# 2 A house is listed for sale at $300,000, but the buyers offer over listing price to insure their offer gets accepted. So in this case, if the offer was $305,000, the borrower would have to come to the table with difference of $5,000.
 Tax Time is Here…Take Advantage of the Federal Tax Credits for Consumer Energy Efficiency
What is included in the Tax Credit?
Tax Credit: 30% of cost up to $1,500 Expires: December 31, 2010
Details: Must be an existing home & your principal residence. New construction and rentals do not qualify.
Biomass Stoves Heating, Ventilating, Air Conditioning (HVAC)
Insulation Roofs (Metal and Asphalt)
Water Heaters (non-solar) Windows and Doors
Even if you purchase multiple products you can only get a maximum of $1,500 over the 2-year period (2009 & 2010). Basically you can spend up to $5,000 during this 2 year period on a single or multiple products, for your principal residence that you own and live in, and get 30% or $1,500 (30% of $5,000 = $1,500) back as a tax credit. If you get the entire $1,500 credit in 2009, then you can't get anything additional in 2010.
Two or more unmarried people living in the same home who own it jointly are each eligible for the tax credit on the amount of money they each individually spend to make home improvements - up to a maximum of $1,500 total for the home. Example: Person A pays $3,000 towards new windows, and Person B pays $2,000 towards the new windows (for a total expenditure of $5,000 on new windows). Person A will get 3/5 ($3000 = 3/5 of $5000) of the $1,500 tax credit or $900, and Person B will get 2/5 of the $1,500 tax credit ($2,000 = 2/5 of $5,000) or $600.
For more information go to www.energystar.gov or consult your tax professional
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"Many hands make light work."
Contact Michelle
303-588-4847 or
Featured Listings
2525 Blue Heron Cr
$629,900
Lafayette, Colorado
6238 Willow Lane
$229,000
Boulder, Colorado
915 Eldorado Lane
$410,000
Louisville, Colorado
840 Sparta Drive
$255,000
Lafayette, Colorado
2785 S. Gilpin Street
$293,000
Denver, Colorado
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Contact Michelle
303-588-4847 or
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