When talking about the real estate market, common words associated with the market are: volatile, confusing, unpredictable, and fluctuating, to name a few. So, in a market that’s anything but consistent, what can past trends tell us about what to expect?
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The question of whether to stay and renovate or move entirely has been top of mind for many of us. That’s a big decision to make with a variety of factors to consider, so let’s go over top considerations you don’t want to ignore.
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Inflation has had a severe impact on the US economy for months now, and shows no signs of letting up. What does this mean for us in real estate?
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Searching for a home can be exhausting, frustrating, and sometimes even infuriating, we get it! But while you’re in the heat of the search, it’s helpful to remember that this is a search that is well worth your time. You’re looking for a place not only to call home, but that can serve as your sanctuary, office, entertainment center, and…
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For many, homeownership is the right path to building wealth. Discover why, and learn how you can start building your wealth with homeownership today.
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Renters and buyers alike want their bathrooms to be equally functional and aesthetically pleasing. This means that periodically upgrading your bathrooms can go a long way in helping you keep your property fresh while improving your property value.
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Winter is almost here, which means it’s time to get your property ready for those long, cold months. What do you need to do to be prepared? Read on.
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It’s time to explore what Broomfield has to offer, from museums to open space, it’s got it all. Learn more.
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Renovating your rental property can be a massive undertaking, so it’s important to ensure you make changes that will last for years. Here’s what not to do.
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Broomfield, CO. has a rich history with roots in gold, the railroad, and tons more. Learn all about it today, who knows? It may be your new home’s next location!
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If you have a rental property, then you may have become interested in smart thermostats, but is it worth the initial investment? Let’s find out!
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With so much entertainment to go around, Old Town Arvada is stock-full of fun activities for the whole family to enjoy! Read about what’s coming up!
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Learn about Old Town Arvada and its rich history, what its cute downtown has to offer, and for how much homes in the area are selling for.
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Landscaping will go a long way in keeping your rental property looking luscious while improving your curb appeal. Learn a few tips to keep your rental property looking fresh all summer long!
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Heard the term “1% Rule” but not sure what it means? We’ll clarify and give you pointers on how to determine if an investment property is worth your attention or not.
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Does your rental property have wooden floors that need some attention? Read on for tips on how to refinish them, without the sander!
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It’s 2021, and one thing’s for sure, the real estate market is TIGHT. That’s why it’s crucial to listen to your realtor on how you can make a competitive offer that will land you your dream home.
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If you’re choosing between a traditional water heater or a tankless water heater, here are a few things to consider as a property manager or homeowner.
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Building your home equity will give you more than just utter joy, but an opportunity to grow wealth on your own terms. Learn 6 tips to build home equity today.
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Working from home could lead to an increase in vacation home sales as people move from convenient housing, to more desired housing.
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Looking for an effective property management company, or property manager is no easy feat. We recommend finding someone with focus, who is honest, and can handle maintenance needs. Learn all about it.
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House Bill 20-1009 and 20-1332 were signed into law in 2020. We’ll go over what that means so you’re fully informed.
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Home security is a top priority for any homeowner. Read on for easy tips to keep your home safe without breaking the bank.
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Though 2020 was tough, 2021 is looking to provide real estate experts and homeowners alike with much-needed good news: low interest rates, a growing economy, and growth in home sales. Read all about it!
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Whether you’re a homeowner, property manager, or renter, home security is always a priority. Discover the pros and cons of smart locks to determine if they’re the right choice for you.
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**House Committee on Business Affairs & Labor Postpone Indefinitely** Managing relationships with tenants is a crucial part of any landlord or property manager’s day-to-day. It’s important to safeguard your investment, of course, but equally as important to ensure your tenants feel safe, appreciated, and protected. One way landlords and property managers can keep their investment and tenants safe, is to…
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The FHA has proposed a private flood insurance option that could help buyers with FHA-insured mortgages save.
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Whether you have one rental property to care for, or dozens of buildings, property maintenance is of the utmost importance. A maintained building shows your residents you care for their well-being, that their safety is important, and of course, it safeguards your investment for years to come. Keeping track of everything that needs to be done can be challenging, so…
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The world of Real Estate is always changing, like the Clear Cooperation Policy that was implemented in January of 2020—what does it mean? We’ll walk you through it.
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How often do you perform inspections of your rental properties? One thing’s for certain, it’s important to balance the number of rental inspections you do—too many, and you create problems with your tenants, and too few could lead to potentially serious and expensive issues. The one thing to remember is that rental inspections are vital for property management. So, here…
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Following FHA, HDU, and ADA guidelines can often seem challenging for housing providers. Here’s our breakdown on reasonable accommodations regarding assistance animals.
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A lot of our day-to-day happens online, and that includes rent payments. If your tenants are still using paper checks to pay, then read on to learn about the benefits of accepting online rent payments.
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The COVID-19 pandemic has negatively affected a variety of industries, with airlines, casinos, and auto parts dealers facing the worst of it, and yet, real estate nationwide continues to grow. The CoreLogic House Price Index (HPI) report for June (a 3-month weighted average that is not seasonally adjusted) reports that as of June, housing prices are up 4.9% as compared…
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Whether you’re a homeowner, property manager, or renter, you’re painfully aware of the dangers lead poisoning in water presents. You can’t smell, taste, or see lead in drinking water, which makes it all the more dangerous. Worse yet, the most common sources of lead in drinking water come from lead pipes, faucets, or plumbing fixtures that could be part of…
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Property management companies need to fill vacancies, and COVID-19 makes showing units challenging. Here are some tips that will change the game for property managers out there.
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Selling your home is quite an undertaking. If you are looking ahead to the new year and making plans to sell your home, it’s best to start prepping now. From a fresh coat of paint to a few trips to drop off items you no longer need, when you space out the projects over a few months it’ll be much…
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In the 2019 Legislative session, Colorado Congress passed several laws relating to rental properties. We’ll cover most of them over the next few months but we’ll start with HB19-1106 (Rental Application Fairness Act). This bill sets regulations on the process of charging application fees. This is a standard practice among landlords and property managers, but the bill seeks to create…
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In Boulder County, home prices have increased by over 45% since 2009 proving that investing in real estate is one of the best investments you can make. Shockingly, even with the growing housing market, over 40% of households in Boulder County rent, according to the US Department of Housing and Urban Development. Buying a home feels intimidating, and it’s a common…
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Selling your home is quite an undertaking. If you are looking ahead to next year and making plans to sell your home, it’s best to start prepping now. From a fresh coat of paint to a few trips to drop off items you no longer need, when you space out the projects over a few months it’ll be much more…
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Having long-term tenants means you spend less on vacancy, marketing and repairs. The key is to keep your tenants happy to benefit your business. Here are a few simple things to implement now to improve the tenant experience and work towards longer term renters. Accept Rent Online With the rise of peer-to-peer money exchanging apps, online bill pay and the…
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When it comes to real estate, there are very few experts in the world as most people will only buy a sell a few times in their lives. If you’ve been living in your first home for a while now and are ready to sell there are a few things that you need to do for a smooth transaction. Hire…
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So you took the plunge and invested in a rental property, now what do you? Managing a rental for the first time can feel overwhelming, which is why it can save you time, money and stress to hire a property manager to do it for you. Here are 6 reasons to hire a property manager: Screening applications All landlords will…
Continue Reading →Each industry has its own jargon which can be overwhelming to those on the outside. Even having bought or sold a few times doesn’t guarantee you’ve heard and understood all of the lingo. To help you out in your real estate journey we’ve put together some common real estate terms (and a few uncommon but important ones) to help you…
Continue Reading →The jury is out in the property management world on whether or not it’s a good idea to allow tenants to sublease your property. This is for good reason as subleasing comes with many complexities regarding maintenance requests, property access and reliability of tenants. As a landlord, you get the final say on whether or not to allow subleases. Here…
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Once your home is under contract, the ball shifts into the court of the buyer. Legally, buyers are allowed to walk away from a deal for almost any reason. As a seller, you need to play your cards right to keep a buyer in the deal, especially when negotiating an Inspection Objection. Saying no to requests from a buyer can…
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Are you tired of showing your rentals and not getting a bite? Even in a busy market with low vacancy rates, renters are often picky about where they are living and who they are giving their money to. Here are 5 maintenance tips to help your units make a strong first impression: Improve Curb Appeal Make a strong first impression…
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The Denver/Boulder real estate market is still a hot one. Days on the market have increased but homes are still turning over quickly and prices continue to rise. Many homeowners wonder if now is the right time to sell and cash out on their investment. Before you decide to sell, ask yourself these 5 questions: Is it a want or…
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A recent article in The Denver Post exposed poor business practices regarding the ranking and promotional system at Angie’s List. With Angie’s List being known as a trusted source for quality vendors, this news leaves many landlords scrambling for where to go now. The article explains how the ranking of “top-rated pro” was only given to companies who paid Angie’s…
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Warmer weather and the freedom of summer has people feeling ready to move. Summer is one of the most popular times for real estate sales and gives you a good chance of selling fast. But, the Denver area market is shifting and sellers are having to compete for buyers more than in years past. Make your house stand out this…
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As a real estate investor, you have a lot of plates to juggle. Managing rentals can feel overwhelming and hard to keep up with. The many details involved in managing a rental are intricate and best handled by a property manager saving you time, money and stress. Here are 7 reasons to hire a property manager: Keeping you in compliance…
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Inventory in the Denver area is on the rise which means more competition for sellers. You want your home to stand out to buyers as the best, so what do you need to do? You could hire a home stager to really wow buyers, but if you’re looking to maintain a high bottom line then there’s a lot you can…
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Since 2010 national rents have, on the whole, continued to steadily increase. This trend didn’t change in 2018 and we saw a year-over-year increase of 3.1% from December 2017 to December 2018 according to CoreLogic. The Denver area was above this pace. According to Rent Jungle, rents in the area increased by 4.18% year-over-year. In Denver proper, the average rent…
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You’re getting ready to put your home on the market, which means a move is coming. As a home seller, you have a lot of control over when you move, and you know that it’s coming up soon. Even two months can fly by before you know it, so it’s important to start getting prepared now so you can stay…
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If you’re looking to get into the game of real estate investing, you have a few choices for financing. Ideally, purchases are made with cash but that’s not realistic for most first time investors. This means you’ll likely be taking out of a loan of some kind, but what’s the best fit for you? Here are 4 different ways to…
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Interest rates have been on the rise for a few years now and have done little to slow the market in the Denver area. In general, experts are expecting a slight slow down in the market as interest rates continue to rise. Some experts even expect interest rates to rise about 5% in 2019. So what does this mean for…
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It’s easy to enter the world of real estate investing, it really just takes the purchase of one property. However, there is plenty of room for mistakes along the way. It’s important to carefully consider all your expenses, stay organized and plan ahead to truly make this worthwhile. Here are 5 tips all new real estate investors need to know:…
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It’s no secret that the Denver market has been burning hot for years now. Experts have been questioning how long this burn would last and some are wondering if it’s come to an end. According to the Denver Post, Denver and other markets saw a sales slump and an increase in inventory at the end of 2018. Data from ReColorado…
Continue Reading →We understand that it’s tempting to manage properties on your own. While it can quickly get overwhelming, for many people it’s easy enough to manage maintenance requests and other such tedious tasks associated with being a landlord. One thing we highly encourage you never to do alone is drafting leases. A poorly written lease can leave you empty handed in…
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Selling your home is quite an undertaking. If you are looking ahead to next year and making plans to sell your home, it’s best to start prepping now. From a fresh coat of paint to a few trips to drop off items you no longer need, when you space out the projects over a few months it’ll be much more…
Continue Reading →According to Apartment List, there was a .2% decrease in rent prices for 2 bedroom units from September to October 2018. The good news is that even with the drop in prices, rents have still risen 1.2% since the same time last year. As a real estate investor, you’ve invested in the right market. Interestingly, the Denver Metro area has…
Continue Reading →In Boulder County, home prices have increased by over 40% in the past 8 years proving that investing in real estate is one of the best investments you can make. Shockingly, even with the growing housing market, over 40% of households in Boulder County rent, according to the US Department of Housing and Urban Development. Buying a home feels intimidating,…
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Having long-term tenants means you spend less on vacancy, marketing and repairs. The key is to keep your tenants happy to benefit your business. Here are a few simple things to implement now to improve the tenant experience and work towards longer term renters. Accept Rent Online With the rise of peer-to-peer money exchanging apps, online bill pay and the…
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It’s easy to find tips on how to get your home ready for showings, but what happens once your home is under contract? As a seller, there is still some game playing to be done as in Colorado the buyer has a lot of power once a home is under contract. Here’s what to expect after your home is under…
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Despite the luxury housing trends of lazy rivers and game rooms, it doesn’t take much to attract good tenants to a unit. Most renters aren’t looking for all the bells and whistles, they’re just looking for a place to live that fits their budget. Simple amenities that may feel basic can be a big draw. Here are 5 simple amenities…
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There’s a common myth floating around that you can save money by listing your home with a real estate agent. While this may feel true on paper, research shows that for sale by owner listings sell for 5.5 percent less than those that use a real estate agent. Here are 3 reasons why working with a real estate agent will…
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The life of a landlord and real estate investor is busy and can be stressful if you let it. Working with a property manager can help keep your life manageable, but you still need to adopt a few habits to keep things in order. Successful real estate investors have many of the same qualities, here are a just a few…
Continue Reading →Purchasing your home was a big deal, but now it’s time to sell and you may be feeling overwhelmed. Home buying and selling is something that almost no one is an expert at, but it doesn’t have to be complicated. Just a few tips can save you countless headaches. Hire a Real Estate Agent You may believe that you can…
Continue Reading →Summer is one of the busiest seasons for real estate, rental units included. With kids being out of school and the weather looking nice, it’s a great time to move. With all the business of move-in and move-out inspections, it can be hard to find the time to complete basic summer maintenance on your properties. It’s important to keep your…
Continue Reading →Maybe your kids have started heading off to college. Maybe they’re all graduated and not coming home for summers anymore. Or maybe you bought a large house a few years ago and wonder if you have too much space. There can be many reasons for downsizing, but is now the right time to make the move? Here are 5 questions…
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Home design goes through just as many fads and changes as fashion. Renovations to your rental property are inevitable, but following trends can end up costing you money in the long run. A trendy unit will be highly marketable for a bit but will quickly feel out of date. Here are a few current trends to avoid during your renovations:…
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It’s no secret that the real estate market heats up in the summer. In the Denver area this makes what’s already a seller’s market even more of a seller’s market. But inventory is on the rise and competition is increasing. Making your home look nice from the outside can give a buyer an overall better experience and help your home…
Continue Reading →Boulder County implemented BuildSmart regulations a few years ago and since then they have been tightening and perfecting the requirements for new developments. These building regulations are part of Boulder County’s Sustainable Energy Plan. All new developments in unincorporated Boulder County are required to follow BuildSmart regulations. Outside of the actual materials and inspection of the completed building, the BuildSmart…
Continue Reading →The Home Energy Rating System is the standard by which a home’s efficiency is measured and is the same nationwide. This can be good for a homeowner to obtain for many reasons, the first of which showing where modifications can be made to improve efficiency and lower energy bills in a home. But when you’re selling your home, is there…
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Vacant units are expensive. Not only are you not bringing in rent while a unit is vacant, you also incur costs marketing it and finding new tenants. Instead of losing money to vacant units, work to keep good tenants around. It doesn’t take a lot to keep most tenants happy and it can save you a lot in the long…
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The green trend is still going strong and buyers love seeing homes that have energy efficient solutions. This doesn’t mean you need to replace all your appliances before putting your home on the market. With warm summer months coming up fast here in the Denver area, you want your home to stay cool without blowing up the energy bill. There…
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When you have a rental property, setting the right price can be the difference between having a vacant unit for months and having a waiting list of tenants. It’s important to find the sweet spot so you attract the type of tenants you want without losing money because of vacancy. So how do you find the right price? Here are…
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There are a lot of myths that come up around the topic of real estate. It’s easy to perpetuate ideas that aren’t true because there are very few real estate experts at your standard cocktail party. So instead of getting advice about selling your home from your cousin’s friend or your neighbor try getting some advice for a true professional,…
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There are a wide range of expectations when it comes to moving in and out of a rental. From the tenant to the owner to the property manager, there are a lot of people to make happy. So what should these walkthroughs cover and how can you manage the expectations? Here are 3 common misunderstandings for move-in and move-out walkthroughs:…
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As a homeowner, you are the only person responsible for the health of your lawn, including your trees, unless you decide to hire a professional landscaper. When winter comes, many homeowners take a break from managing their plants outside because everything is in hibernation, but that may not be accurate. Here’s how to give you trees the water they need:…
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Tenants don’t sue often. Most times a landlord is threatened with court it’s an empty threat. But it does happen and it is rarely expected. Understanding the most common reasons for a lawsuit is the first step to avoiding them. Here are the 4 most common reasons tenants sue: Mishandled Security Deposit Laws about security deposits vary from state to…
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More often than not our garages end up being used as storage. And since it’s not intentional stuff ends up being unorganized and all over the place. Many buyers dream of having a place to park and store their stuff. So how can you give them what they want? Here are a few tips to market your garage as a…
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Earlier in 2017, Invitation Homes, one of the nation’s largest Real Estate Investment Trusts (REIT) went public. In addition to gaining billions in the capital market, they received a $1 billion interest-only loan from Fannie Mae. This loan was met with a lot of questions and outrage. People are concerned about Fannie Mae’s involvement in backing a company that buys…
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Once your home goes under contract, the ball primarily lies in the buyer’s court. They are legally allowed to walk away from the deal for almost any reason. This means you have to play your cards right, especially when it comes to resolving the Inspection Objection. You don’t want a buyer to turn away when you refuse to make repairs,…
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When you have a vacancy all you want is to fill it, and filled quickly but that doesn’t mean you should let just anyone in. Of course, you always need to comply with Equal Housing guidelines but there are plenty of reasons to say no to a tenant. It’s not worth having the risk of dealing with an eviction to…
Continue Reading →As they say, the kitchen is the heart of the home. Make your kitchen stand out by giving it some attention before you list. A clean and organized kitchen can wow almost any buyer and all you need is a little elbow grease. Here are our 5 tips to stage your kitchen before you list: Clean – And Again Kitchens…
Continue Reading →After a few years of working with tenants it’s likely you’ll have stories to share you never would have imagined. Despite tight screening things with a tenant can go wrong quickly. Maybe they lost a loved one, lost their job or are struggling with their health. Life happens and some tenants aren’t able to manage and start to go off…
Continue Reading →The Denver area real estate market is still going strong even after seeing a 2.75% decrease in housing prices from July 2017 to August 2017. Home prices in the area have still increased over 8 percent from August 2016. While the market is still turning over quickly, the Denver area is on it’s way to becoming a more normal market…
Continue Reading →Do you clearly communicate to tenants their responsibility for utilities? Your lease should outline who is responsible for what, but you also need to communicate to the tenants their responsibility. What’s required of them if they voluntarily move out before the lease without breaking it? What happens if they fail to pay the bill and their heat is turned off…
Continue Reading →When you’re selling your home your focus is often going to be on the bottom line, and how to maximize it. This generally leads you to focus on list price and potential inspection items you need to fix, but have you factored in the other costs of selling your home? It’s more than just Realtor commission, and while you will…
Continue Reading →Having a rental property can sound simple enough, but once you get into it you realize there’s a lot you need to manage. Between finding tenants, collecting rent and turning over the rental property can all be exhausting. Here are a few signs you need a property management company: You Get Emotionally Involved As an owner of a property, it’s…
Continue Reading →Listing your home at the right price can feel like a scene out of Goldilocks and the Three Bears. Too high and you might be on the market for a while, too low and it cuts into your bottom line. So how do we pick the price that’s just right? Well, it’s more of an art than a science. Here…
Continue Reading →Security deposits range from $200 to a month of rent and more, but how do you decide how much to charge? A security deposit is an important part of your business as a real estate investor. It protects you from paying for repairs out of pocket and in theory gives your tenants extra motivation to take good care of their…
Continue Reading →Smart home technology is all the rage, and while not everyone needs these additions many buyers will go the extra mile to purchase an already equipped home. You don’t need to install voice-activated light switches to help push your home over the edge, but there are a few updates you can make to bring your home into the 21st century….
Continue Reading →Summer is peak real estate season. As you look into buying a new home you may be considering keeping your old one as part of your real estate portfolio. This can be a great way to build your portfolio, but if this is your first entry into real estate investing there are a few things to keep your eye out…
Continue Reading →There has been a lot of talk recently about the low inventory in the Denver area, but how low is low? Let’s walk through the past 10 years of inventory levels to see just how low inventory is these days. In January of 2007, Denver had 41 months worth of inventory. In January, in the dead of winter when real…
Continue Reading →There are several paths to becoming a real estate investor. You can buy properties with the sole intention of using them as an investment, you can fix and flip properties or you can ease your way into purchasing properties. This last option is one of the most approachable options and can produce a lot of value for you over time….
Continue Reading →In the current Denver area market, it doesn’t take much to sell your home. Inventory is still low and homes are being snatched up. However, if you’re looking to get top dollar for your home there are a few important things to keep in mind, starting with your neighbors. Here are 5 things to know about your neighbors (and neighborhood)…
Continue Reading →Does the word liability make you cringe? You may be surprised by what you as a landlord can be held accountable for. Luckily, most liabilities can be avoided with good property management and tenant screening. Here are 5 major landlord liabilities to stay on top of: Hazards This is a relatively obvious one and should fall under common sense. The…
Continue Reading →Under Colorado law, all counties must reappraise real properties every two years. The Notice of Valuations (NOV) must be mailed to the property owners on or before May 1st, on odd numbered years (2017). The taxes will be for the following 2 years. The tax rates are set in December each year. For most properties, 2018 (Intervening tax year) taxable value…
Continue Reading →Buying and selling real estate isn’t easy. Most people do it only a handful of times in their life and the process can be long, draining and emotional. Currently, the Denver area is a very seller-friendly market with low inventory and high prices. It’s easy to get overconfident and list your home as-is, but avoiding these home selling don’ts can…
Continue Reading →Subleasing is a subject of much debate in the world of property management, and for good reason. There are many complexities regarding maintenance requests, access to the property and responsibility which deter many landlords. As a landlord you have the power to not allow subleases on your properties, but should you? Here are the pros and cons of allowing a…
Continue Reading →It’s almost spring, or so they tell us, and you may have started thinking towards the summer with dreams of outdoor gatherings, beautiful gardens and maybe a firepit or built in grill. Before you run to grab your shovel and head to your nearest home improvement store, let’s dive into some numbers and make sure you aren’t throwing your money…
Continue Reading →Most people who start on the path of real estate investment will only acquire one property. But, if you truly want to see profit and increase your wealth you need a much larger portfolio. As you begin your journey into real estate investment, adjust your expectations of overnight wealth. While you won’t get rich overnight, if you play your cards…
Continue Reading →With the steady rise in home prices in the Denver Metro Area over the past several years, some days it may feel as though home prices are simply pulled out of thin air. As a homeowner, you are able to control many aspects of your home’s value, but many are outside of your control. Regardless, it is important to understand…
Continue Reading →The snow has started to fall and it looks like this winter will be a wet and heavy one. Snow removal can start to feel exhausting during a heavy winter. But who is actually responsible for snow removal? Here are 3 ways to help you define who is responsible for snow removal: Research Local Laws Snow removal regulations can vary…
Continue Reading →Each industry has its own jargon which can be overwhelming to those on the outside. Even having bought or sold a few times doesn’t guarantee you’ve heard and understood all of the lingo. To help you out in your real estate journey we’ve put together some common real estate terms (and a few uncommon but important ones) to help you…
Continue Reading →According to the Denver Post, the number of units reducing asking prices increased by half a percentage point nationally from the same time last year. While the national change isn’t much to write home about, according to the Denver Business Journal, Denver has experienced a 3.1% drop in one bedroom apartments. Some experts say this is due to an oversupply…
Continue Reading →It’s time for another Denver market update. The winter/holiday season is historically very slow for real estate and we generally see a slight dip in home prices. So what does this season hold for Denver? Let’s take a look at the Denver market as of November 30, 2016. Number of New Listings – 967 in November 2016, down from 919…
Continue Reading →Many people consider buying a condo to be a good investment, one you could live in for a while and rent out later or buy outright as a rental property. Are these purchases really all they’re cracked up to be? Let’s take a look at the numbers for the Northern Denver area: 2015 Average Sale Price For Condo October 2015:…
Continue Reading →Long-term renters are a landlord’s dream. It means no vacancy costs, no marketing costs and fewer repair costs. Keeping your tenants happy is important to your business. Here are a few things to stop doing to keep your tenants happy and keep your business on the right track. Requiring Check Payments If you’re not set up to take payments digitally,…
Continue Reading →You may be a few years removed from the millennial generation or perhaps you’re a millennial landlord with no student debt. Regardless, it can be easy to feel like the issue of student loan debt doesn’t relate to you, but the truth is it does. Millennials make up the primary renter base. 60% of rental applicants from 2011 – 2015…
Continue Reading →Denver area home inventory has been at historic lows since early 2012. The question all real estate professionals are asking is, when will it recover? Low inventory means higher prices, with some areas seeing increases in value as high as 7.6% within a year period. This means buyers are struggling to find a home they can afford and sellers are…
Continue Reading →Are you tired of showing your rentals and not getting a bite? Even in a busy market with low vacancy rates, renters are often picky about where they are living and who they are giving their money to. Here are 7 simple projects to help your rental properties show well: Start Outside To make a strong first impression, start outside….
Continue Reading →There’s a lot of talk about how to win a bidding war on the home of your dreams and the best and worst times to buy. But what happens once you sign a contract? As a buyer, you should be relieved to learn you now have the power. You are able to leave the deal before the closing if you…
Continue Reading →Property Manager Tips: When Do I Need to Replace Appliances in Rental Units? Unexpectedly having to replace appliances in multiple units can be a huge blow to your cash flow as a property manager. It’s important to keep appliances well maintained to get the most life out of them. During a move-in walk through it is important to explain basic…
Continue Reading →You want to make your home stand out with potential buyers, but you also don’t want it to stick out like a sore thumb. So where’s the middle ground? Working with a home stager (get in touch and we can give you a recommendation) can have a huge impact on the amount of time your home is on the market…
Continue Reading →A lot goes into buying a new home. It’s easy to get caught up in the emotion of home buying, but is a neighborhood with a HOA right for you? Take a look at these pros and cons before deciding to buy in a neighborhood with (or without) a HOA. PROS 1. Property value maintenance Homeowner associations were instituted to…
Continue Reading →Managing tenants can sometimes feel like an uphill battle. Long term tenants can save you money as a property manager or owner because it limits turnover costs and vacancy. So when you find a good tenant, how do you keep them around? While not every tenant can be (or should be) retained, there are a few small things that can…
Continue Reading →So you took the plunge and invested in a rental property, now what do you? Managing a rental for the first time can feel overwhelming, which is why it can save you time, money and stress to hire a property manager to do it for you. Here are 8 reasons to hire a property manager: Screening applications All landlords will…
Continue Reading →The Denver market is still smokin’ hot and will continue to gain steam as summer approaches. A hot market will help your house fly off the market, but there are still several important steps you need to take as a seller to help buyers see the best of your house. Here are my 7 tips to sell your home fast:…
Continue Reading →How Much Mold is Too Much? We often face situations in homes where there is some mold or mildew that needs to be cleaned. The question is if we have to hire a professional to remediate. In most cases if the affected area is less than 10 square feet, you can handle the job yourself. This is per EPA’s documentation….
Continue Reading →There is a frenzy in the housing market. Homes are sold quickly with multiple offers. It is the reminiscence of a few years back. It is only natural to ask if another housing bubble is in the making! A recent article in the Economist magazine argues perhaps not. The prices in the 20-city index compiled by the Standard & Poor’s®,…
Continue Reading →The question I’ve been frequently asked by owners is whether a security deposit a taxable income. The security deposit or damage deposit you receive from a tenant should not be included in your rental income if you intend to return the funds to your tenant when they leave after the lease expires. However, if the tenant breaks the lease and…
Continue Reading →This post describes how the property taxes are calculated and what are the timelines in order to appeal if your property tax seems too high. Property taxes are determined on odd-numbered years for 2-year tax periods. Property taxes determined in 2013 will be the taxes for 2013 and 2014 State statute requires that each property in the county be re-valued…
Continue Reading →The 15 real estate markets across the U.S. with the most “flash sales” recorded in the last five months, as compiled by Redfin. Flash sales are defined as homes going under contract within 24 hours Read more: Denver’s hot real estate market now seeing quick, 24-hour sales
Continue Reading →The Top 10 Best Cities for Home Sellers based on ZipRealty’s List Price to Close Price RatioReport are: San Francisco, San Diego, Sacramento, Las Vegas, Los Angeles, Orange County, Denver, Tucson, Portland and Seattle.
Continue Reading →The Metrolist®, the Denver’s Multiple Listing Service, published a report titled “Denver’s Housing Market Continued to Recover in January Offering an Unprecedented Opportunity for Sellers“. The number of homes currently available on the market is at the lowest since 1990. “Year-over-year inventory levels continue to be low, home prices are up and average days on market (DOM) for Denver-area homes…
Continue Reading →Colorado Department of Local Affairs: For the second month in a row, all metro areas in Colorado, except Colorado Springs, are on the National Association of Home Builders’ Improving Markets Index. For much of 2012, Greeley, Boulder, and Ft. Collins were included on the “Improving Markets” list put out by the National Association of home Builders. The February list, released…
Continue Reading →Well,how did we do in 2012? I have wrapped up the highlights of 2012 in this short report full graphs and numbers. It includes information on the legislation front; rental market in Metro Denver, various vacancy rates by markets & dwellings, rent survey; Unemployment figures; Hiring; Home sales &Prices; new homes; and supply of homes on the market. Enjoy. 2012WrapUp
Continue Reading →From my subscription to retechnology.com I’d like to share: We’re celebrating the end the year by counting down our 10 most engaging articles of 2012. This article, from HomeFinder.com, was posted in July and is #5 in our countdown. Best of 2012: 6 Apps Every Homebuyer Needs When Buying a House
Continue Reading →Proud to announce that Metro RE Investment Group and Property Management is now a BBB accredited business.
Continue Reading →The Colorado Division of Housing has published it’s 3rd Quarter 2012 Foreclosure Report. After the peak of 2009, the foreclosures have been on a decline. The numbers for the 3rd quarter 2012 is down 23.6% over the same period in 2011. Please refer to the report for details and a quarterly graph of. A lot of factors are lining up…
Continue Reading →I had posted earlier on Senate Bill 70 – Concerning the Uniform Residential Landlord & Tenant Act. The bill status is postponed indefinitely. It is a victory for property managers and landlords.
Continue Reading →Trulia price and rent monitor reporting Metro Denver rents are up 9.4% year-over-year.
Continue Reading →Standard & Poor Case-Shiller® home price indices track home prices of 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller® Home Price Indices are calculated monthly using a three-month moving average. This post compares the residential housing markets of Denver with the 2 composite indices. The data is from Standard & Poor CaseShiller®…
Continue Reading →The talk of the summer was the housing recovery. The supply of available homes have dropped sharply. The graphs below capture the state of the market – the sales and the median prices The graphs include Supply of Homes on Market, Sales, and Median prices for four regions and the nation. The historical data is directly obtained from the National…
Continue Reading →The construction of mutli-family housing has been on the rise, however, the shortage in rental market is persisting. The Denver posted reported yesterday the vacancies in Metro Denver has dropped to 4.3% in the 3rd quarter in 2012, the lowest since 2000. The average rent is up 5.2% in one year. The full article is at Denver metro apartment vacancies…
Continue Reading →With the 2012 tax rates expiring, I thought to recap where the 2012 tax rates, brackets, and capital gains rates are along with an example of how the marginal tax rate is calculated. As the example shows, one in the 28% bracket does not pay 28% of the income for taxes. The tax is calculated in an stair-step manner on…
Continue Reading →Yahoo Finance published an article on “Mortgages with No or Little Down-payments”. Homebuyers with little money for a down payment are finding more home loans available for a low down payment or even no down payment. 4 mortgages are listed: No down VA No down Navy Federal No down Department of Agriculture Low down: FHA Read the full article here.
Continue Reading →The latest data from Metrolist®, the largest real estate multiple listing service (MLS) serving Colorado real estate agents, show a continued strong real estate market in the Denver metro area. Read the full article here.
Continue Reading →Americans still favor home ownership. The U.S. home-ownership rate continues to remain around 65.5 percent, the U.S. Census Bureau reported late last week. The home ownership rate is nearly the same as it was in the second quarter of 2011 at 65.9 percent. Please read the full article in the Realtor Magazine. The peak was at 69.2% in 2004.
Continue Reading →An interview with Warren Buffet on housing recovery. Here is the Wall Street Journal video.
Continue Reading →An article from the Certified Distressed Property Expert (CDPE) website stating the additional evidence supporting the shortage in the housing market. It is more difficult nowadays for investors to pickup bargains. In the past the investors have been able to wait out the “preference” period given to home-occupant buyers. The HUD and many banks have a period of time giving…
Continue Reading →Housing starts jumped 6.9% in June to a 3.5-year high, underscoring the residential real estate’s slow recovery as a bright spot in a sputtering economy. http://www.usatoday.com/money/economy/housing/story/2012-07-18/housing-starts-june/56297966/1
Continue Reading →The Wall Street Journal headline “Housing Passes a Milestone“
Continue Reading →On 5/29/2012, the governor signed the House Bill 12-1237. The bill overhauls the record keeping requirements of Homeowner Associations mandated by the Colorado Common Interest Ownership Act (CCIOA). The following is not a legal advice but a summary of the requirements. The bill also talks about, among other things, privacy issues, inspection rights of unit owners and the procedures thereof….
Continue Reading →Effective April 9th, the FHA’s Mortgage Insurance Premiums will be increasing. The upfront premium, payable at closing, will increase from 1% to 1.75%. The annual premium increases from 1.15% to 1.25%
Continue Reading →Yet Another Bill Introduced, Senate Bill 12-162. “CONCERNING VERIFICATION OF REMEDIATION PERFORMED ON PROPERTY CONTAMINATED BY AN ILLEGAL DRUG LABORATORY”. Below are excerpts from the bill: (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary…
Continue Reading →REALTORS® are seeing favorable market developments but also expressing continued concern with issues related to lending and appraisals, according to comments and replies they’ve provided this month for the REALTORS® Confidence Index. See Housing Stats and Analysis from NAR’s Research Experts
Continue Reading →The Colorado Senate Bill 70 – 2012, creates the Uniform Residential Landlord and Tenant Act describing the obligations of both landlords and tenants as it relates to rental property and rental property agreements. The industry stakeholders including the Property Managers community, Colorado Apartment Association and Colorado Association of Realtors are in opposition to the bill. We are involved in and/or…
Continue Reading →HUD secretary announces equal access housing rule: A new rule took effect this week barring those who own or operate U.S. Department of Housing and Urban Development-funded housing from asking about an applicant’s sexual orientation or gender identity, an Obama Administration official announced Friday.
Continue Reading →House Bill 1237 was sponsored earlier February by the State Representative Angela Williams. The bill concerns the records kept by the homeowners associations of common interest communities (CIC) making the records more accessible to the homeowners. “The bill adopts, with some revisions, suggested language from the commission on uniform state laws concerning the records required to be kept by a…
Continue Reading →The Denver Business Journal reporting apartment vacancies at a 12-year low confirming the trend with single family home low vacancies and higher rents. Denver-area apartment vacancies hit 12-year low for Q4 .
Continue Reading →The latest report from Colorado Department of Housing.
Continue Reading →The Westminster Economic Development Authority (WEDA) is purchasing Sears in the former Westminster Mall Per the Metro Denver Economic Development Corporation. The acquisition would add 7.8 acres to the currently purchased urban redevelopment site. WEDA purchased the most of the 105-acre site last summer. The vision for the new urban center is a mix of retail, office and residential. The…
Continue Reading →The purpose of this case study is to illustrate the steps involved in analyzing a residential investment opportunity. It may not cover all aspects of the investment analysis but it is very comprehensive. Where applicable, there are links to more explanation of the topics throughout this post. The objective is to show how one, systematically and objectively, can quantify the…
Continue Reading →“The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.” See report Government Set to Sell foreclosures in Bulk
Continue Reading →HARP 2.0: What it is; What it isn’t
Continue Reading →Supply of homes and condos priced $250,000-and-lower stands at only 3.69 months reports Inside Real Estate News.
Continue Reading →Law & Regulations investors and managers should know: Risk-Based Pricing & Credit Score Disclosure HB10-1278 HOA Registration LBP Compliance Guide LBP Pamphlet Renovate Rights Pamphlet HB09-1276 Delayed Foreclosure HB10-1249 Expedited Sale Protecting Tenants in Foreclosure HB08-1356 Warranty of Habitability HB09-1091 Carbon Monoxide Law
Continue Reading →Standard & Poor Case-Shiller home price indices track home prices in 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average. This post compares the residential housing markets of Denver with the 2 composite indices. The data is from Standard & Poor’s Case…
Continue Reading →Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors®. Here is the full report.
Continue Reading →Decision Points Unlike purchasing a property as a home, where the buyers are emotionally involved, the purchase of an investment property mostly is (should be) a business decision. Below are some of the decision points: Initial cash needed for down payment, closing costs, repairs, etc Cash flows (before and after tax) Tax impact (liability or savings) Return on investment Financing,…
Continue Reading →As I show homes to my buyers, there is a common theme: finished & unfinished projects all over the city, many foreclosed. Homes in some of the hottest areas as of a few years ago are not flipping. Sold one recently at a great price but it was not the profit the investor had in mind. Check out the article…
Continue Reading →I’ve discussed the first component of wealth building, Time Value of Money, in another post. In this post I am discussing the second component Leverage, the pros and the cons. First some definitions and I’ll have examples. Leverage is the use of borrowed funds to finance an investment. A Positive leverage is when an unleveraged investment has higher returns than…
Continue Reading →How aggressive is your late payment penalty? Opinions vary on this subject. In my practice I have learned to keep the late fees relatively low. Let me explain. I do NOT any make exceptions for anyone. That said, one thing I know for sure I won’t be in trouble with the Fair Housing laws treating people differently. Now, with the…
Continue Reading →The threat of another economic downturn is stalling a housing recovery, Fannie Mae said in a report Monday.
Continue Reading →Both the foreclosure Filings and sales at the public trustees auctions are down for the year compared with the same period in 2010. The foreclosure filings were down 31.4 percent and sales at auctions were down 18.5 percent. The report was released on Thursday by the Colorado Department of Housing.
Continue Reading →The two principals in wealth building that an investor must understand are the Time Value of Money and Leverage. This post describes TVM and a few things about financial calculators. But first 5 definitions: Compounding(i) & Discounting(i), Present Value(PV), Future Value (FV), Payment (PMT), Holding Period (n). (A)Let’s say you invest $1000 today (PV) at 10% annually for 5 years…
Continue Reading →The taxes you owe on the sale of an investment property is made of 2 parts: 1) Tax on the gains Taxable Gain = Sale Price – Cost of the Sale – Adjusted Basis*. 2) Tax on total cost recovery (depreciation) Tax on the total cost recovery taken is at the maximum of 25%. For Example, You purchased a property…
Continue Reading →Adjusted basis refers to the total cost of acquiring a property less any cost recovery (depreciation). So, Adjusted Basis = Purchase Price + Acquisition Costs + Capital Improvements – Cost Recovery. Example, You purchased a property for $80,000; paid 1.5% mortgage origination fee; Put a new roof for 5,000; and, kept the place for 10 years. The land is, say,…
Continue Reading →Standard & Poor Case-Shiller home price indices track home prices in 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average. There is a two month lag. This report compares the residential housing markets of Denver and the 2 composite indices. The data…
Continue Reading →http://www.9news.com/money/216001/344/Foreclosures-made-up-31-pct-of-home-sales-in-
Continue Reading →The methodology behind figuring out the After-Tax cash flow (ATCF) is to take your Before-Tax Cash-Flow (BTCF) and add to/subtract from it your tax savings/ tax liability. Here are the steps: Taxable Income = Net Operating Income (NOI) – Annual Interest Payments – Cost Recovery See below for Cost Recovery (a.k.a. depreciation) calculation. Tax Impact = Taxable Income X Investor’s…
Continue Reading →The Capitalization Rate is defined as CR=NOI/Price. Cap Rate is often used to valuate and compare investment opportunities. It is a simple way to do so. It takes into account expenses but not the financing, appreciation, tax impact, etc. An Example: There are 2 four-plex buildings. Building A with an annual income (NOI) of $30,000, priced at $335,000 yielding a…
Continue Reading →Net Operating Income (NOI) , as one put it, is the center of the universe. Practically all valuations are based on NOI. It is the Net income from the property as if there are no Mortgages. A couple of definitions first: Gross Scheduled Income (GSI) is the income expected from the rental property assuming fully rented + any other income,…
Continue Reading →Single filers can exclude from their income up to $250,000 and married couples up $500,000 of gains from the sale of the primary home meeting the time-test. The seller(s) must have lived in the house 2 years out of 5 years prior to the sale. The 2 years does not have to be consecutive. There are other rules and exceptions…
Continue Reading →The Denver Police new Crime Lab construction in full swing.
Continue Reading →The latest existing-home sales report from the National Association of Realtors shows the prices in the West region is down by 7% from July of 2010 to July of 2011. The number of transactions, however, is up by 12% for the same period according to NAR. The West region which includes Colorado lags the nation. Click here for the analysis…
Continue Reading →There are several ways to estimate the value of and analyses of an investment property. Each method has advantages and disadvantages. All should be considered when applicable. There are 3 key areas that would impact the value. Like a 3-legged stool, all 3 must make sense to for the investment to stand straight. Income from the property Operating expenses of…
Continue Reading →Pay careful attention to 3 key areas Income Expenses Financing Run the numbers BEFORE buying Cash-flow analysis before and after taxes Tax Savings or Liability Project the cash-flow for the holding period Disposition plan and overall investment performance over the holding period FMRR – Financial Management Rate of Return is a system to capture a the points listed above. I…
Continue Reading →A new rule from the Federal Trace Commission aimed to deter deceptions in mortgage advertising. The rule imposes record keeping among other things on those impacted by the rule. “The Rule will impact real estate professionals that provide this information to consumers, such as giving a consumer a lender’s rate sheet.” According to the National Association of Realtors. Federal Register…
Continue Reading →Colorado Department of Housing has issued the Mid-year housing snapshot. Click here for the report. Or cut & paste the link below into your browser. http://www.colorado.gov/cs/Satellite?blobcol=urldata&blobheadername1=Content-Disposition&blobheadername2=Content-Type&blobheadervalue1=inline%3B+filename%3D%22midyear2011.pdf%22&blobheadervalue2=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1251731922239&ssbinary=true
Continue Reading →The Fair Credit Reporting Act (FCRA) was enacted in 1970 to promote accuracy, fairness and privacy of the consumer information collected by consumer reporting agencies (CRAs). There has been a number of amendments in using consumer credit reports to make rental decisions, specifically the adverse action notice. Dodd-Frank Wall Street Reform and Consumer Protection Act amends the FCRA to require…
Continue Reading →http://www.divisionofhousing.com/2011/06/home-sales-closings-denver-area-down-19.html
Continue Reading →http://www.divisionofhousing.com/2011/05/single-family-rental-vacancies-at-all.html
Continue Reading →“New single-family home sales fell again in the US, and in the West region, which includes Colorado. New home sales fell back to the lowest March total recorded in at least ten years. ” according to Colorado Division of Housing. http://www.divisionofhousing.com/2011/05/march-new-home-sales-still-at-ten-year.html
Continue Reading →http://www.divisionofhousing.com/2011/05/both-filings-and-sales-fall-in-march.html
Continue Reading →Here’s a breakdown of year-over-year median home-price changes for the Denver metro area in recent quarterly IAS360 reports: Q1 2011 (from Q1 2010) — Down 3.9% Q4 2010 (from Q4 2009) — Unchanged. Q3 2010 (from Q3 2009) — Down 3.1%. Q2 2010 (from Q2 2009) — Up 1.2%. Read more http://www.bizjournals.com/denver/news/2011/05/10/ias-home-price-decline-eases-in.html
Continue Reading →The city of Westminster plans to demolish the blighted Westminster Mall to develop a downtown for the 100-year-old community. Read more: Westminster Mall to be razed for a new downtown – The Denver Post http://www.denverpost.com/business/ci_17978568#ixzz1LO897KPg Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse
Continue Reading →http://www.divisionofhousing.com/2011/04/total-employment-in-state-continues-to.html
Continue Reading →The senate, this week, passed H.R. 4 repealing the extended 1099 reporting law that had passed in 2010. The 2010 law was requiring, among other requirements, that the landlords to file 1099 for anyone who had provided services of $600 or more. http://speakingofrealestate.blogs.realtor.org/category/property-management/ NAR Briefing on the Extended 1099 Reporting
Continue Reading →Senate Bill 11-234 would ban private real estate transfer fees, which have been added to homeowner association covenants during the development phase to fund an investment scheme cooked up by Manhattan-based Freehold Capitol Partners. The covenants are set up to require that a percentage of the sale price of a home be paid to a private 3d party every time…
Continue Reading →The New York Times: Mortgage Servicers will be required to bring in a consultant to investigate complaints by homeowners who lost money because of foreclosure processing errors in 2009 and 2010. In some cases the homeowners could be compensated. http://www.nytimes.com/2011/04/11/business/economy/11foreclose.html
Continue Reading →There is a shadow cast across the real estate market today in the form of real estate owned, or REO, properties that have accumulated in the wake of the foreclosure crisis. http://www.coloradoan.com/article/20110410/LOVELAND03/304100002
Continue Reading →Two national surveys on bank health have found that many Colorado banks are under more financial stress banks than other states and they may have a thinner cushion to absorb bad bank loans. 9-News Video Link
Continue Reading →The Denver-area housing market ranked No. 6 in January out of the 20 metropolitan statistical areas tracked by the closely watched S&P/Case-Shiller Home Price Indices. The data lags 2 months. Please refer to S&P Case-Shiller March Report.
Continue Reading →Taking part in discussions and correspondences with other property managers nationwide, the shortage of rental housing is not limited the metro Denver area. Other managers are seeing record low vacancies low vacancies in their respected areas. The metro Denver single-family vacancies are at all time low of 2.% The shortage seems to be evident in the supply of apartments. The…
Continue Reading →http://www.dsnews.com/articles/sales-of-previously-owned-homes-slump-96-2011-03-21
Continue Reading →The vacancy rate for single-family homes/townhomes and condos is at all-time low of 2% during the 4th quarter of 2010 according to the Colorado Department of Housing. The average number of days to rent such homes dropped to 38.2 days from 53.9 days in the 4th quarter of 2009. Click here for the full report.
Continue Reading →Colorado Department of Housing has published the 2010 Colorado Foreclosure report. The charts below show 2003-2010 stats for Colorado and the metro Denver area. The Denver metro includes the Denver, Arapaho and Adams counties. For other areas please refer to the actual report. The foreclosure filings are down, however, more homes are going to auction.
Continue Reading →2-day discussion on how medical marijuana is grown and sold. See Daily Camera article.
Continue Reading →Effective 1/1/2011 all rental property owners in the City of Westminster must register with the city and obtain a rental license.This registration must be completed by March 1, 2011. There are restrictions, licensing fee, and inspection fees applicable.
Continue Reading →HB-1278 – All Homeowners Associations governed by CCIOA (Colorado Common Interest Ownership Act) must, annually, register and pay the required fees, with the Colorado Department of Regulatory Agencies Division of Real Estate. This bill is effective 1/1/2011. All registrations must be completed online prior to March 1, 2011. The registrations must be renewed annually. An association is exempt from the…
Continue Reading →The Denver post reporting today that the commercial investment in Denver area has doubled this year over 2009. Full article is available at http://www.denverpost.com/business/ci_16938797
Continue Reading →Overcome the anxieties of selling | Inman News.
Continue Reading →Additional 1099 Reporting Requirement for 2011 — Landlords HR 5297 includes an expansion of the 1099 reporting related to a trade or business. Currently only the Property Managers are required to file Forms 1099 to reflect payments of $600 or more. Congress has extended the Form 1099 requirement to any person who receives rental income. This requirement would apply to…
Continue Reading →Flood insurance was extended for another year as congress adjured. The extension is through September of 2011. Read more.
Continue Reading →The Denver post reporting: Areas that avoided foreclosure mess earlier may be taking hit now – Homes in metro Denver neighborhoods that previously appeared insulated from the housing crisis are seeing a decline in prices as foreclosures and short sales tick up. Meanwhile, those communities that were hit hardest are showing signs of improvement. Read full article: http://www.denverpost.com/business/ci_16353602
Continue Reading →The Denver Post published an interesting article on how big the problem with bedbugs has become. The bugs have become resistant to typical household pesticides since the ban on DDT and homeowners are resorting to the use of toxic outdoor chemicals to combat the critters. Read the article here.
Continue Reading →“We look at the very low vacancies among rental houses, condos and townhouses. We also note that average rents have not kept up with inflation” says Colorado Division of Housing. See Video.
Continue Reading →On September 27, 2010 H.R. 5297 (Small Business Jobs and Credit Act of 2010) was singed into law. There are tax breaks and SBA loan improvements included in the bill. Read More.
Continue Reading →September 30th is the deadline to close on the homes purchased by Apr 30th tax-credit expiration date to earn the tax-credit. There were two variations to the tax-credit, one for the homes purchased in 2008 and one for those purchased in 2009. For homes purchased in 2008, the tax-credit was $7,500 and only applicable to the first time homebuyers. The…
Continue Reading →Aug new-home sales unchanged. Full Report Here.
Continue Reading →More on Vacancies Dropping from Colorado Dept of Local Affairs – Housing Division. “The second quarter’s vacancy rate is the lowest second-quarter rate reported since the report was started in 2004.”
Continue Reading →Colorado Dept of Local Affairs – Housing Division’s Housing Snapshot August report is out.
Continue Reading →Homeowner Tax credit ended 4/30. There was a mad rush in March and especially in Apr to have the contracts in place by the 4/30 deadline. All the contracts had to be closed by end of June (then, extended to end of Sept because of overload). I expect a slow rest of the year and early 2011. The National Association…
Continue Reading →The Denver post reported yesterday Denver Metro home sales is down 26% compare to a year ago. This is expected as the homebuyers tax credit ended in April. All those contracts were to close by June 30 (now extended to end of September due to overload). The Denver Post Article.
Continue Reading →Gain from the sale of a primary home is tax exempt up the $250k/$500k (singles/married) limit but not if the house is rebuilt and sold. The tax court ruled that in this case (Gates, Tax Court No 1) the owners did not live in their rebuilt house 2 years out of the 5 years prior to the sale as is…
Continue Reading →CNNs Money “Best Places To Live” List http://money.cnn.com/magazines/moneymag/bplive/2010/top100/ Highlands Ranch, Broomfield, Ft. Collins, Loveland
Continue Reading →Metro REIG is on Facebook. www.facebook.com/MetroREIG
Continue Reading →Denver has adopted the new zoning code effective June 25th. The zoning map designates the zoning district for every property. At this link you will find the new zoning code map & the former chapter 59 zoning map, history, case status, and a lot more info. Here is another link to Denver zoning code and more.
Continue Reading →Colorado Association of REALTOS®: “The Environmental Protection Agency (EPA) has delayed the enforcement of the new Lead: Renovation, Repair and Painting rule to provide time to get more remodelers and other contractors trained – and for EPA to get the word out to consumers about the importance of hiring a certified remodeler, according to the National Association of Home Builders…
Continue Reading →Denver has a new zoning code. Opponents are concerned that it will be too restrictive and harder to navigate than the existing code. However, creators of the new code say it’ll be just the opposite. They feel the new code will be easier to use, and allows for more options for how and where businesses and homes will be built…
Continue Reading →The tax court ruled that co-owners of a principal residence are eligible for full $500k exemption ($250k each) just like married couples provided each had lived at the home 2 years out of the 5 years prior to the sale. The IRS auditor had allowed $125k each (Hsu v. Commissioner of Internal Revenue , Tax Court Summary Opinion 2010-68). Currently…
Continue Reading →April’s 12800+ job addition negated by May’s 10,200 losses per Colorado Department of Labor. Unemployment rate is at 7.7% compare to 8.2% a year ago.
Continue Reading →Earlier reports had shown Denversingle family home vacancies have dropped and rents are up. Now, the same is true for apartments Per CO Dept of Housing. This is encouraging news. The housing and employment are directly related. Although employment is still lower than the levels of 2009, in April Co added 12800+ jobs. See the June Housing Snapshot
Continue Reading →Three senators (Harry Reid D-NV, Johnny Isakson R-GA., Christopher Dodd D-CT) have proposed to extend the tax-credit closing deadline to September 30th from June 30th. The extension is for those homebuyers who have qualified for the tax credit and also have had their contracts in place by the April 30th deadline. National Association of Realtors estimates that about 75,000 homebuyers…
Continue Reading →The 3.8% Medicare Surtax on the sale of a primary home (in general on investment income) effective in 2013 applies to very few people.1) The net profit from the sale of the primary residence must be over $250K for singles, and $500K for married. Any amount over those is classified as investment income and is subject to capital gain tax…
Continue Reading →Bank of America offering loan modifications to 10,000 homeowners starting in late June. It applies to homeowners who have missed at least 2 payments and owe 20 percent or more than their home is currently worth. Only certain types of loans issued by Countrywide Financial Corp. qualify for the adjustment. More at MSNBC Business ..
Continue Reading →No hiccups please, 30 days to go. April 30the was the deadline for tax-credit contracts to be in place. All those contracts must CLOSE by end of June for the homeowners to claim the tax-credit. It seems 2 months is plenty of time nonetheless home buyers and their agents must stay on top of things.
Continue Reading →1Q2010 Metro Denver area residential homes & condos vacancy rate dropped to 3.1% (5.5% for 4Q2009), average rent increased to $1,035 ($1,016 in 4Q2009) according to Colorado Department of Local Affairs. Full report.
Continue Reading →The Denver Post published an article yesterday (5/23/2010) that the City of Arvada my change or ease a fire safety code that is hindering the resale of some homes. The code is part of the 2006 International Property Maintenance Code adopted by the City of Arvada and other metro-area cities. The code disallows the sale, lease, disposition of non-conforming homes….
Continue Reading →Mortgage applications fell sharply in week ending 5/14, according to NAR. Tax-credit ended at end of April.
Continue Reading →The National Association of Realtors reports that the median sales price for existing homes increased in 91 of the 152 metropolitan in the 1st quarter of 2010 over the same period in 2009. Denver prices increased by 16%, Boulder by 2.2%
Continue Reading →Under Current Home Value tab: get an instant, computer generated price for your home, recent sales in the area, other homes value, etc OR request a detailed assessment.
Continue Reading →February Existing-Home Sales Decline, Inventories Higher but Improvement Over a Year Ago Existing-home sales declined slightly in February. The decline continues after peaking in November. The sales slipped 0.6% nationally to a seasonally adjusted annual rate of 5.02 million units. However, it is 7.0% higher than February of 2009. The home prices are also more stable than a year ago….
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