Beth's Broomfield Homes Blog

Get rid of your household waste for FREE in Broomfield this Saturday

Mon, 29 Sep 2008 13:09:47 -0500

Is that giant dinasour of a computer monitor STILL sitting in your loft collecting dust? (Oh, that's at my house!) Make an appointment now to get rid of it free of charge this Saturday, October 4.

You can email kschaefer@broomfield.org or call at 303.438.6336. I emailed her this morning and she responded right away with a 10:30 appointment.

It's for Broomfield residents only and if you'd like to know what kind of Household Hazardous Waste they're accepting click here. You'll need to take your waste to 124th and Lowell, head east (trust me, you'll see all sorts of cars going in) and then follow the signs to the appropriate drop off.

3815 Red Deer Trail in Red Leaf Neighborhood For Sale! $235,000

Sun, 28 Sep 2008 13:11:20 -0500

If you've always wanted to live in Red Leaf but found it a bit expensive now's your chance to own an affordable place in that neighborhood! This beautiful home measures 1,580 square feet, has 3 bedrooms + a spacious master suite and 3 bathrooms. AND the counter space in the kitchen is to die for! PLUS you can forget about breaking your back this winter while shoveling snow, because that and lawn care is all taken care of by the HOA!

If you would like to see more pictures and get more information on this great home please visit http://www.3815reddeertrail.info.

And of course you can always call me at 303.887.1883.

Save $5 on a class at Broomfield Rec through September

Thu, 18 Sep 2008 08:54:53 -0500

The Broomfield Rec Center is trying to encourage folks to register for classes online so they're offering $5 off the registration fee if you sign up through eConnect through September.

You'll need to register for the class out of the Fall 2008 Broomfield Recreation Services brochure which you can get here.

What's that you say? You've never been to the Broomfield Rec Center? It's located just north of 128th and Lowell on the west side of Lowell. It's a gargantuan building and you can't miss it. I think they offer approximately 10 million different activities (well, okay, maybe not 10 MILLION) including swimming, rock wall climbing, assorted fitness classes for all ages and so on.

Take a video tour of the Broomfield Rec Center right here.

Don't forget to thank a soldier

Thu, 11 Sep 2008 10:58:37 -0500

Okay, so I completely swiped the idea for this post from my Krav instructor but it bears repeating. (P.S. If you’d like to see what all the fuss is about visit the Broomfield Krav Maga Open House on September 27.)

Considering this week is the 7th anniversary of the terrorist attacks on United States soil I think it is an especially good week to take the time to thank a soldier. If you happen to see one in the airport or at Starbucks or while you’re out eating dinner or whatever, you could offer to pay for their lunch, or buy them a beer or simply say “thank you” — thank you for your service and thank you for helping keep my family and my country safe.

I have a couple of spare DVD’s sitting around that I need to mail out to the soldiers. You can do that too right here at anysoldier.com. They also love books, games, Chapstick, tissues, cookies, candy, cards, letters and so on. They don’t always have time or the resources to respond but one soldier sent me a letter with pictures of her painting some Iraqi girls fingernails and it was really neat.

Another good group is Soldiers’ Angels. In fact my very first client decided to join this group at my urging and she has a whole unit to which she and her grandkids send goodies and she actually hears back from them all the time!

If you have a good group you support post it here with a link in the comments.

FREE Krav Maga Classes in Broomfield

Tue, 09 Sep 2008 09:29:16 -0500

Perhaps you've driven past the Krav Maga gym in Broomfield in 120th and Main and wondered, "What on earth is this thing called Kraaaavvvv Maaaggggaaaaa????" (I would spell it out phonetically but I don't even know how.) I know I certainly did at one point and now I'm preparing to take the Level I (or yellow belt as it's loosely known) test this Saturday. Seems hard to believe!

For those of you who don't know, Krav Maga is the form of self defense used by the Israel Defense Forces. It actually means "close combat."

It's TONS of fun and a lot of work but if you're looking for an excellent workout and to learn some great ways to defend yourself I encourage you to visit the Open House on September 27th and take a free class! You can view their Open House flyer right here.

If you do plan to go, wear work out clothes (there are no uniforms for the adults - yay!) but remember it's pretty "hands on" so I suggest you not wear your "finest" work out clothes.

At 9:00 a.m. you can either choose the hour long Fitness & Conditioning workout or attend the Women's Only Self Defense class.

At 10:30 let the kids try the Karate Concentration for Kids class.

At 11:45 don't miss the hottest fitness trend around called CrossFit OR the Brazillian Jujitsu/MMA workout.

Finally at 12:45 be sure to catch the intro to Basic Krav Maga.

The gym is located at 6821 W. 120th Ave.

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Dog Daze at the Bay in Broomfield

Sun, 31 Aug 2008 18:15:33 -0500

If your dog loves other dogs and loves water just as much, you really must take him to The Bay on September 13, from either 9-11 a.m. or 11 a.m.-1 p.m. or 1-3 p.m.

Note that the swimming isn't for the humans, just for the dogs.

To ensure there is enough space they would like you to pre-register. It's $5 for residents and $7 for non-residents.

For those of you who don't know what The Bay is: it's Broomfield's Aquatic Park that is normally open (for the humans) from Memorial Day to Labor Day every year and includes serpentine slides an interactive play structure and an inntertube slide among other things.

Unfortunately, I couldn't pay my dog to get in the water much less to get in the water and frolic with a bunch of other dogs, but oh well, hopefully you have a dog who would enjoy this!

Looking to buy a home in Broomfield? Start your search here!

Bicycle friendly areas in Broomfield

Mon, 25 Aug 2008 18:00:46 -0500

There was in interesting article in the Wall Street Journal last week about how home buyers are growing more and more interested in buying a home in an area that is bicycle friendly.

If you happen to be one of those buyers you may be interested in Willow Run which backs directly to the Dry Creek Open Space path and has 8 homes available for sale with a price range of $226,000-$273,900.

Columbine Meadow is located directly west of Willow Run and has 3 available homes in the price range of $219,900-$229,000.

Crofton Park which includes both townhomes and patio homes (and a soon to be built Senior Boutique area for the 55+ crowd) and sits directly north of the Dry Creek path and directly west of Willow Run and has 10 available homes in the price range of $244,900-$344,900. There are 5 available condos at a price range of $229,900-$329,900.

Did you know that if you normally drive along Highway 36 (Boulder/Westminster) alone you can get up to $180 by switching to your bike? Follow the link for program details.

If you're really getting into this whole biking thing you may want to visit the official Bicycle Colorado website.

Search for your next dream home on the MLS here.

Still think blogs aren't important?

Mon, 18 Aug 2008 10:01:24 -0500

Of course you don't! That's why you're reading this. But for further proof, I just found out today that Google has a special beta (which means it's still in the "testing" phase but good enough to be tested randomly by the public) search engine for blogs http://blogsearch.google.com/.

On a lazy rainy day in Broomfield

Sat, 16 Aug 2008 13:17:00 -0500

It is just kind of one of those days where you want to lounge around the house. One of my favorite things to do while lounging about is watch movies online. Here are some great sources to do just that:

iTunes: I love to download movies to my iPod. I know, the screen is so tiny but I still love it because I can take it anywhere and watch them. If you rent a movie it expires in 24 hours but if you buy it you can keep it and watch it forever on your computer or your iPod.

Blockbuster: This is a new feature from Blockbuster that allows you to download movies right to your computer. Warning though, most of these online features don't work very well (if at all) on Firefox so you'll have to suck it up and use IE for the movie.

Movielink: Yet another place to buy and rent movies online.

Netflix: Joining Netflix also allows you to download movies. They have different rules depending on which subscription you buy so read the details carefully.

Great starter home in Northglenn $160,000

Fri, 15 Aug 2008 11:57:41 -0500

This pretty home is in move-in condition with brand new paint and carpeting throughout. It measures 1650 square feet total (825 main and 825 in basement) with 2 bedrooms and full bath on main floor and 2 non-conforming beds and 3/4 bath in basement. The basement also has a huge finished family room area with built in book shelves.

The house sits on a lot that measures nearly 1/4 of an acre, includes a 1-car garage, additional enclosed parking area, AND additional RV/boat parking as well. There is a covered patio out back, perfect for BBQ or quiet summer nights with friends.

It is NOT a lender owned or short sale property! Just a quick and easy sale with quick possession. First time home-buyers could qualify for the new $7500 tax credit and an FHA loan if needed as well.

It is located at 1169 W. 102nd Ave. and selling for $160,000.

If you would like to see more pictures or video, this home has its very own blog at http://www.1169w102ave.info.

Of course you can always call me as well at 303.887.1883.

Broomfield City Council Update

Wed, 13 Aug 2008 16:52:58 -0500

I received my unofficial minutes from the recent Broomfield City Council meeting and thought I would share some of the notes I found interesting.

It appears that that service area for the ZIP Shuttle at the Flatiron Mall will be expanding. For those of you who don't realize it, mall shoppers pay for the ZIP via an additional tax that is automatically added on through each merchant. (Check youre receipt!) The shuttle has come under some fire in the last year or so for costing an average of over $7 per passenger to operate.

A new chapter regarding Public Nuisance may be added to the city's Municipal Code. It deals with run down homes, but before you get too excited about ratting on your neighbor who decided to plant his entire front lawn with nothing but flowers, that now look like dead weeds, note that to be considered a nuisance the property must meet 3 of the criteria, and in my opinion they're pretty significant. More details are here in the Broomfield Enterprise.

It also appears that a Burger King will be going in at 136th and Huron. (I renew my call for more Taco Bells!!!)

Apparently, interest in renting office and industrial space in Broomfield is quite high. Inquiries may even break the 1996 record.

Did you know that you can get the unofficial Broomfield City Council minutes delivered right to your email inbox? Or that you can watch video of council meetings online? Go here for more information.

What are they building in Broomfield now?

Fri, 08 Aug 2008 12:23:44 -0500

If you're like me, you often drive by areas in Broomfield and note all the construction work going on and want to know what the heck they're doing. (Of course if you're really like me you keep hoping for another Taco Bell - the one at 120th and Sheridan is just toooo busy.)

If you'd like to know about Broomfield commercial development click here for a map. It appears from this, that most of the new activity is taking place at the Barber Farm area (behind KMart at 120th & Sheridan) where the new WalMart and other whatnots will be built. Then the rest of it is taking place north of Highway 7 or 168th Ave.

If you'd like to know more about Broomfield residential development click here for a map. I'll be covering more of the upcoming projects specifically in future blog posts, but you might want to take note of the new Senior Development at Crofton Park which is located just south of 128th and Lowell, the Lambertson development at 136th and Zuni and the Palisade development at 168th and Huron.

Redbox movie rentals free in August

Thu, 07 Aug 2008 16:57:27 -0500

I don't know about you but I love to rent movies from the Redbox movie rental boxes for $1. I tend to frequent the boxes at the WalMart at 136th and Huron and the McDonalds at 120th and Sheridan. I found out today you can get FREE movies on Wednesdays in August by allowing them to text you a code on your cell phone. Great day!! You can sign up here for your free movies.

Broomfield County Real Estate Market Report July 2008

Thu, 07 Aug 2008 09:24:52 -0500

Metrolist released their data today for real estate sales in Broomfield County:

July 2008

Single Family Homes

77 sold

86 Days On Market for average property

$313,712 average "sold" price

350 homes currently for sale in Broomfield

4.5 month supply of homes avail.

Compare these figures to one year ago

July 2007

Single Family Homes

92 sold

88 Days On Market for average property

$314,373 average "sold" price

408 homes were available for sale

4.4 month supply of homes avail.

Now compare them to two years ago

July 2006

Single Family Homes

84 sold

85 Days On Market for average property

$320,737 average "sold" price

467 homes were available for sale

4.7 month supply of homes avail.

Note that while the average sold price has declined, so has the number of homes that were actually sold which in terms of "bang for your buck" you're still getting more in Broomfield County than home sellers are in many other places. Also interesting to note is that average Days On the Market remains about the same as does the absorption rate. It is likely that the reason the number of homes sold has decreased, is due to the current credit crunch - it's just tougher than it used to be to buy a home.

The fact remains that if you're lookiing for a "get rich quick scheme" real estate isn't the way to go. However, if you're looking to invest money for the long term, real estate may end up being particularly lucrative at this time with prices lower than usual and the fact buyers pretty much have their pick of homes to choose from.

Whether you're looking for a place to live or an investment property, pick a home that is well priced for the condition it's in, take care of it, and then wait. I predict that 10-20 years from now fortunes will be made from this market - college funds and retirement funds will be well stocked because folks bought intelligently and were patient. Their friends and family will wonder "where on earth they got all that money" and they'll say, "Yeah, remember back in 2008, when everyone else was whining about the doom and gloom? I bought a couple investment properties at a great price and then waited..."

Data provided in this representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market. Based on information from Metrolist, Inc. for periods July 2008,2007,2006.

Willow Run Neighborhood Market Report

Wed, 06 Aug 2008 18:08:58 -0500

Ever driven down 128th towards Zuni and noticed the Willow Run neighborhood in Broomfield? It's a great place to live! There are no covenants or HOA and it backs to the Dry Creek Open Space area! For my most recent market report on Willow Run go here.

Vote early! Vote often Broomfield!

Wed, 06 Aug 2008 09:13:16 -0500

Okay, okay, I'm kidding about the "often" part. But you can vote early in the Broomfield County primary starting today. You know, as often as I complain about bloated and inefficient bureaucracies (which is pretty much every day) I do have to give props to the Broomfield Clerk & Recorder's office. They appear to do pretty well in matters of voting and registration. I know that when I changed from having a party affiliation to Unaffiliated last spring, I mailed it in and in less than a week everything was completel. They also have so great online resources:

If you want to know where you can vote in Broomfield (early or otherwise) go here.

To see the sample ballot for the Democrats, go here.

Or for the Republicans go here.

If you'd like to double check your voter registration information you'll have to do that with the Secretary of State here.

Finally, if you want to register to vote, or change something on your record, such as your party affiliation, you can do that through Broomfield County right here.

Now get out there and vote people! Others have died, getting and keeping our right to vote. Many, many others throughout this world would give up their own lives for this right, so give thanks that you already have it and go exercise it. Okay?!

How is Broomfield Real Estate Doing So Far This Year?

Tue, 05 Aug 2008 09:12:46 -0500

According to Metrolist statistics, at the end of June for 2008, there have been 467 single family homes sold and 64 condos sold.

At this same time last year, in 2007, 531 single family homes sold and 71 condos sold.

As of June 2008, the average sold price on a single family home was $337,321, while the average sold price on a condo was $212,970.

Pop back in time to June 2007 and the average sold price on a single family home was $349,536 and for condos it was $201,026.

The average Days On Market for the first 6 months of this year was 99 for single family homes and 136 for condos.

The same time for 2007 saw 114 Days on Market and 148 respectively.

So while the average sold price has decreased over the year for single family homes the Days On Market has also decreased which is important. It could indicate that sellers are finally starting to price their homes properly and buyers are taking notice.

Note that in the area that is (roughly) considered Adams County the average single family home sold price was $197,751 for the first six months of this year, while the average sold price for a condo was $114,829. A year ago at this same time the average single family home sold for $221,723 while the average condo sold for $151,790.

Back to Broomfield: a rather interesting statistic is the "absorption rate" which is basically the number that indicates "supply and demand." It's supposed to show whether or not an area is in a buyer's market, seller's market or neutral. It's also indicitave of how long it will take to exhaust the current supply of available homes. The current number (available properties divided by properties that sold the past month) is 4.8 which often would suggest being just out of reach of a seller's market. It also means Broomfield has roughly a 4.8 month supply of available single family homes.

Stay tuned to this blog for what these numbers actually mean to you as a seller or buyer of property in Broomfield, Colorado and for more specific neighborhood reports.

When I'm not setting the kitchen on fire I save bunnies

Wed, 19 Sep 2007 19:50:21 -0500

I want to take the time to point out to everyone just how much the Animal Emergency Referral Center in Broomfield ROCKS.

On Sunday I noticed that one of the wild bunnies who hang out in my yard and provide the cats with hours of entertainment (it's like television for them) was limping. He let me get way too close so I knew something must be wrong, and then I could see that his leg was bleeding. So I threw a large towel on top of him, picked him up and stuffed him in the cat crate. I didn't really want to call my vet because he would laugh at me, as I admit he probably should.

I decided to stop into the AERC to see what they thought. I didn't want him to suffer or get snatched up by some other animal.

The AERC is open evenings only and 24 hours on weekends and holidays. If your pet (no matter what kind!) needs emergency treatment and you live nearby I highly recommend their services!!

They happily took the yard bunny and didn't even laugh at me! Turns out he had a laceration on his leg. They had another bunny in the back who had been hit by a car but was recovering nicely. They put them in together for company. They explained that they try to do as little as possible (other than keep them comfortable) since they are wild animals. But this way they have a quiet place to recover. (If necessary they will euthanize them so they don't suffer.)

I called just now to check on my bunny and he was released today! Yay!!

Animal Emergency Referral Center
303.464.7744
1480 W. Midway Blvd.
Broomfield

The Reserve at the Broadlands in Broomfield

Wed, 19 Sep 2007 19:02:35 -0500

I did manage to sneak away from my desk on Sunday and visit The Reserve at the Broadlands and I have to say, these are some very slick homes! They’re patio homes which I personally am usually not too crazy about (the dog and all) but I really liked these homes. Besides you can opt for a split rail fence with chicken wire if you wish so if you have a dachshund like me that works out pretty well. (All you have to worry about is the BARKING but you’re used to that, right?)

HOA dues are $131 a month and that includes lawn care and mowing(!), snow removal, 2 Clubhouses one with an outdoor pool, the other with an indoor pool and exercise room.

They’re building 46 patio homes, 6 models – 4 will be ranches and 2 are 2-story.

I saw the St Andrews model (ranch), which had a very open floor plan, with a main floor master, a large kitchen and breakfast area, huge bathroom, HUGE closet in the bedroom, main floor office and spacious utility room. The basement was finished and featured a family room, a work out room, a bar, which was more like a small kitchen, full bathroom and bedroom.

Prices start at $469,950 and go into the $600’s. The homes are made by Sheffield homes.

If you would like to see any of these homes I would be more than happy to go with you and help you write an offer if you want! I’m an Associate Broker with the Moser Real Estate Group – Metro Brokers and you can call me at 303.887.1883 or email me at beth@bethskinner.com.

Know how to use your fire extinguisher (or here's to you dad!)

Mon, 10 Sep 2007 21:25:37 -0500

Okay, so I had a bit of a crisis at my house today. I very stupidly turned on the wrong burner on the stove and set the blender, which happened to be sitting on that burner, on fire. Which, fortunately set off ALL the fire alarms (who knew that was so piercing, I think I have permanent hearing loss) which caused me to stop working on my potential op/ed and go downstairs to see what the commotion was about and then I saw the fire. Yes I said fire. An honest-to-God fire in my home.

Now I've started tiny fires on the stove top, while cooking, which resulted in a brief adrenaline rush while I grabbed the frying pan lid and/or baking soda to smother it. One time I set a hand towel on fire but just stamped it out, but nothing prepared me to see, what appeared to be, the entire stove - on fire.

Fortunately my dad taught me to use a fire extinguisher when I was a kid and I have 2 of them in my house (about which, I might add, others have laughed!) but I am embarrassed to admit, I panicked too much to be able to get the pin out of the first one and sprinted upstairs to get the 2^nd one, and in the midst of panicking over that one, I finally and literally, yelled at myself to calm down.

I raced down the stairs, ripped the pin out, flung it aside, stopped, took a breath, realized where that trigger was, and then blasted the stream at the fire. (Although I can't say it was the smartest thing in the world to empty the ENTIRE fire extinguisher onto the fire, even after it was clearly out, because let me tell you, that is a serious mess.)

Post crisis, it's strange to me what I first thought of when I thought my entire life was flashing before me, but to my credit my very first thought was of my pets and how I could get 2 cats and a dog to safety if it became necessary to evacuate the house.

I have to admit my 2^nd thought (I'm not kidding) was of my laptop and what would happen to it. I torment my "#1 Geek Friend" Dave who literally carries his flash drive around his neck, and yet I realized today the world could implode, and if he could find another computer, he could simply pop in his flash drive and have his hard drive right in front of his eyes.

My 3^rd thought was of my house. (Some real estate agent I am!)

Nothing else even crossed my mind at the time, not my clothes (whoa that's serious), not my books (I can get more at the thrift store), photos, the TV, nothing. The pets and the laptop. Good grief. (Although if my Blackberry hadn't been attached to me I probably would have thought of it!)

Although I will say that when the alarm company called and asked if everything was okay and I told the lady that I had a fire in the kitchen but that I put it out, she asked repeatedly if I wanted to fire department to come out just to make sure everything was okay, I honestly thought about whether or not someone else needed them more. And what it would cost the taxpayers to have them come out? (I would have been more than happy to pay for their trip myself. Okay, so "happy" may not have been the right word, but how about willing?) I'm honestly not saying this to brag, but just that it occurred to me later how weird I am! (I'm sure if the fire had been bigger or if I had 2-legged had children I would have thought differently!)

The blender has definitely gone to the used appliances place in the sky, I actually don't think I killed my stove after all, although I'm afraid to use it now, thank God the super deluxe coffee grinder I got from Costco is okay although slightly mangled, and once I get all the fire extinguisher powder out off the coffee maker it should be okay, and the microwave is going to be really ugly until I replace it. My pets and my laptop are safe and I can still make coffee. What more does a girl need?

And for those of you who are wondering, fire extinguisher "stuff" leaves a very fine powder EVERYWHERE. It's not goo as you might imagine but POWDER. And it took me all afternoon to clean most of it up.

Props to the Home Security Center who called as soon as the alarm went off and made extra sure everything was okay, and super props to my neighbor who came by to see if I was all right after she heard the fire alarm blaring forever.

The entire microwave is black, a good portion of my cupboards are black, and my beautiful blue walls in the kitchen, that I just painted last winter, are black, the pets are extremely rattled but all right and I am on my 3^rd glass of wine and I think my hands will stop shaking at some point next week. Lest I sound ungrateful I truly am thankful that the pets are all alive and the worst of it is a house that smells like burnt plastic and fire extinguisher stuff. While this whole thing sucks and I'm really mad at myself for being so stupid, (it could truly have cost me my life and my home) I realize there are people who would love to have my "problems" right now.

The moral of the story? Stop thinking about the op/ed you're writing and whether or not you can get the Wall Street Journal to publish it and that maybe, maybe, Neil Cavuto will finally call, and ask you to be on his show, and pay attention to which burner you're turning on!!!!!

The 2^nd moral is, have at least one fire extinguisher in your home and KNOW HOW TO WORK IT. Seriously. Take time to look at it and think about pulling the pin and pressing the button to put a fire out. If your kids are old enough, teach them to use it too. It honestly helped that my dad once made my brother and I learn how to use it with a piece of burning newspaper in the middle of the driveway, because I swear I thought of that in the midst of all that panic.

For now, I think I'll have another glass of wine and order some pizza. (And call my dad.)

Broomfield Home Sale Statistics for August 2007

Mon, 10 Sep 2007 19:48:01 -0500

Average Broomfield home sale prices were down to $325,330 in August 2007 according to Metrolist statistics from $336,373. Not great if you were the seller, but far from bad, and this still hardly denotes a "housing crisis."

If you're thinking about buying, this is definitely the time to get serious. Do it before the markets start to recover and prices begin increasing again.

The number of Broomfield homes sold in August 2007 was up to 94 from 86 a year ago.

Note that last month the average price of a home sold in Broomfield was $314,373 and 92 homes sold.

I'm from the government and I'm here to help!

Mon, 10 Sep 2007 19:45:00 -0500

The hue and cry finally got so loud over this entire mortgage “mess” that even President Bush decided he better weigh in publicly and offer what every good politician feels they must offer: HELP. The problem with this so-called help is that it is often unnecessary and eventually ends up doing more harm than good.

Politicians get elected on their ability to “help” people – i.e. pass out pork (other people’s money). So the more goodies they can hand out whether it’s through farm subsidies, new construction, or mortgage assistance the more likely they are to get re-elected. Yes, even the so-called fiscally conservative Republicans know this.

Another maxim in politics is that “perception is reality” so whether or not the whole “housing crisis” is really a crisis or not, folks watching the nightly news, or borrowers who have felt the pinch from their adjusting mortgages, or home owners who have watched several homes in their neighborhood go into foreclosure, most feel that there is indeed a crisis afoot.

Yet back in June, the Mortgage Bankers Association (MBA) released data from the 1st Quarter of this year that showed overall, mortgage delinquencies decreased. Wait a minute? What’s that? Delinquencies decreased? How can that be? We’re in the midst of a crisis that only the government can cure!!! Aren’t we?

According to Dr. Douglas Duncan, Chief Economist for the MBA, “The percentage of loans in foreclosure would be well below the average of the last ten years were it not for Ohio, Michigan and Indiana…” And if it weren’t for California, Florida, Nevada and Arizona “foreclosure starts would have declined.” Further, “24 states saw a decline in foreclosure starts, while the rest of the states saw negligible increases…” The hell??? From the way the media and politicians talk I figured everybody was facing foreclosure.

The MBA also claims that their sources indicate the foreclosures in Florida, Nevada, California and Arizona are “heavily influenced by speculators who are walking away from properties...” In other words speculators bought up a bunch of properties using adjustable ARM’s with super low interest rates, and gambled that they could sell the homes at a profit before the ARM’s flexed. Uhhh whoops.

So now we have the government (i.e. hard working taxpayers) jumping in to help bail out folks who gambled on the housing market and lost. As Jonathan Hoenig points out in his Smart Money column, financial traders are (typically) accustomed to losing money when they make poor financial decisions and don’t expect the government to bail them out. Unfortunately this seems to be changing with the government proposed “help.”

Speculators who lost money on a bad bet or your average homeowner who took a gamble on a home that they thought/hoped they could afford but in the end could not, may now be (forcibly) helped out of their bad investment decisions by others. Not a good sign.

Is it really fair that you, Mr. and Mrs. Average Home Owner, who work hard at your jobs, and who only bought a home you knew you could afford, within your given budget, be asked to bail out those who over invested or over spent?

Because I assure you, when President Bush and Mrs. Clinton insist they’re here to help it’s actually you the taxpayer/homeowner who are helping. (There is no money tree in the backyard at the White House.)

I truly feel bad for people who may end up losing their homes or decide to declare bankruptcy. I’ve met some very good people who simply made a mistake and I wish they hadn’t. And as a real estate agent it certainly affects my business when people aren’t buying and I can’t get my listings sold.

I’m also an advocate of FHA loans – they help people who have the income but not necessarily the down payment and/or credit scores to get into a standard mortgage – those who take out these loans also pay mortgage insurance on them, in case they default. Foreclosure rates for FHA loans in the 1st Quarter of this year ran around 2%, whereas foreclosure rates for subprime ARM loans were more than 6%.

Ultimately however, I am a taxpayer and a firm believer in small government, so while I can appreciate “modernizing” or streamlining the FHA process I certainly don’t want to see a large scale taxpayer bailout of a “crisis” that isn’t as much of a crisis, but more a prime opportunity for politicians of all stripes to take the opportunity to snatch up extra votes by proclaiming they’re from the government and they’re here to help. Yipes. No thanks.

National Housing Meltdown - on Neptune I guess

Sun, 02 Sep 2007 14:52:01 -0500

The Denver Post reports today that we're in the midst of a "national housing meltdown..." Seriously? And on what planet would that be??? (As a quick aside I must point out that the best part about blogging is I can do what I want with punctuation.) Honestly, I think it's irresponsible to throw out phrases like that in the guise of journalism when there isn't a bit of solid data to back up an assertion like that.

There is absolutely, positively, NO "national housing meltdown." Not even close. Sure, it's fun to write words like "meltdown" and I suppose people are more likely to buy the newspaper and actually read articles with words like "meltdown," rather than "housing market kinda slowish at this time in certain areas..." Which is FAR closer to the truth than "meltdown" but a hell of a lot more boring.

Now to give the author some credit he does supply several quotes from economists who do not predict big trouble ahead for the American economy, but that doesn't erase the "meltdown" comment in the first sentence that is stated as fact and not opinion.

Lawrence Yun, senior economist for the National Association of Realtors, was in Broomfield 2 weeks ago to give a talk on the state of the real estate market. (To which, I might add, the media was invited, but unless they were hiding, no one from the major dailies bothered to show.) He opened his talk with the words, "...the housing market is fundamentally sound." Again, much more boring than "meltdown" but actually backed up by - wait for it - DATA.

I've griped about the media before and I'm sure to do it again but how about a little less hyperbole and a few more facts folks? The way the media presents things you'd think that every other house on your block was in the middle of foreclosure.

On August 27, the National Association of Realtors released sales DATA for July which showed home sales had remained stable and that "the market is holding on despite temporary mortgage disruptions." [emphasis mine] Maybe I was too busy watching Big Brother at the time but I missed the flurry of announcements by the media on that news. How about some headlines proclaiming "Good news on the housing front" or "Housing market woes look to be lifting" or just a simple "Housing market holding steady"?

In fact, there were home sale increases in the west and Northeast which, Dr. Yun goes on to point out, that sales and prices in the Northeast have increased "on a fairly consistent basis the last few months" and that may prove promising because it was the first region that experienced problems after the boom and now that it appears to be coming back, other regions may follow. Again, didn't hear a whole lot about that did we?

Along the Front Range in Colorado I can assure you there is nothing even remotely resembling a "meltdown." According to Metrolist data in July, homes sales while down nearly 3% from the previous month were UP 2.68% from this time a year ago.

Metrolist will release the housing sales statistics on Wednesday for August and I can already predict how it will go - if housing sales are down by the tiniest amount it will be trumpeted all over the place - if they've held their own or are up, we won't hear much.

Am I claiming that everything is just peachy? Of course not. I have clients who have been personally and profoundly affected by adjusting mortgage interest rates and they are struggling. But I'm also smart enough to know that my anecdotes do not a market make.

I could go on forever but this is a blog after all and not an issue paper. But trust me, I'll be back.

Great opportunity for first time home buyer in Thornton

Fri, 10 Aug 2007 14:44:58 -0500

Check out this great home that includes 1800 square feet of living space, 4 bedrooms, 2 bathrooms, and a beautifully landscaped front yard that sits on a corner lot. This super clean house is smoke free and has newer paint and carpeting.

PRICED RIGHT AT $179,900!!

You CAN get FHA Financing for this home with rates ranging from 6.5% - 7.5% along with Down Payment Assistance and 100% financing!

If you are interested in viewing this home call me at 303.887.1883 or if you would like to see if you can qualify for an FHA mortgage, and aren't already working with a mortgage consultant, call Eric Grandcourt at Waterstone Mortgage at 303.552.0375.

Don't ruin your chances for buying your dream home

Wed, 01 Aug 2007 20:17:40 -0500

Okay people I'm only going to say this once (more). Houses aren't FREE. They cost money. In fact they cost a lot of money. BUT financially speaking, buying a home is one of the smartest moves you'll ever make. Whether it's a 6,000 square foot house on the golf course or a 1,600 square foot condo, you OWN it. This is the American dream. This is in large part what makes this country so great - we have the right to own property, as much as we can afford - plain and simple.

Besides, you can deduct your mortgage interest, mortgage insurance (if you have it) and your property taxes from your income tax bill each year and eventually, when you sell, it will have gone up in value, and if you've managed your finances well you'll have a nice little pile of cash (equity) for your efforts. Try that with renting!

Having said all of that, buying a house can be a difficult and trying process (yes I freely admit that, even as a real estate agent). Unless you're paying all cash, you have to qualify for a mortgage and this is where your past can really come back to haunt you.

In order to keep this from happening my advice here is PAY YOUR BILLS. Somehow. Somewhere. Someway. PAY YOUR BILLS. Even if you have to call your creditors and cut a deal with them to pay a small amount each month, it's better than hoping it will all just go away. Do everything in your power to keep your bills from going to collections and honest to Pete don't let it get to the judgment stage.

According to Eric Grandcourt, Mortgage Planner at Waterstone Mortgage, "credit history counts for more than a third of your credit score." Which means if you have numerous collections and judgments this can seriously clobber your FICO score and your chances to own your dream home. (Which isn't to say that if you have these types of problems you should give up - but you'll have to work to pay them off to get your credit score back into the acceptable range.)

There are a variety of things you can do to appease your creditors. (Especially if you take it on when the trouble first starts.) Swallow your pride (come on, you've been through worse, you know you have) and call them. Be nice, be polite, be humble. You'll get a lot further with honey than you will with vinegar (or however that goes). Tell them you're having trouble paying your bills but that you really want to pay them. Explain your situation - you got laid off for 3 months but now you're working again, or your lousy husband ran off with his secretary and left you to pay the bills, or whatever. Cry! (Seriously. Who here hasn't cried to get out of a speeding ticket? Same principle applies.)

Ask if they would be willing to cut the interest rate, or the finance charges or accept a lower monthly payment, etc. Now granted, at this point some will be jerks and say no but keep paying anyway because at least the record will show that you made an effort to pay your bills.

An old friend of mine refused to pay his student loans because he felt college should be free for everyone. (!) Whatever. But now they garnish his entire tax refund every year. And how would you like to see that little bugger on your credit report?

And yes, I am on a rant about this because I've seen one too many good, honest, decent people who, for whatever reason, got in over their heads with debt, but instead of doing something about it, they ignored it and/or tried to blame someone else for their problems.

Then they wake up one day and decide they want to own a home. So they go and find their dream home, but when it comes time to get qualified for a mortgage, all those mistakes they had hidden carefully away in the closet come tumbling out on their heads. No mortgage. No dream home. Sorry.

Don't let this happen to you. Make a vow that you will start to turn things around today by ordering a FREE copy of your credit report, check to see if there are any surprises on it (there may be some bills that you have actually paid that still show up as unpaid), start to pay off the debt you currently owe, and rebuild a higher FICO score so that when you do spot that dream home you can actually buy it.

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