Monthly Archives: May 2010

Kiplinger on Boulder

Posted by Michael Hughes   May 28, 2010

Boulder poised for recovery and future growth.  Boulder ranks in the top 10 of Relocate America cities in their most recent survery. Boulders’ strong local leadership, employment opportunities, thriving community commitment, improving real estate markets (if you are thinking you are going to buy a house in Boulder), growing green initiatives, plentiful recreational options and an overall high quality of life landed it on this highly esteemed list. Boulder is one of the many communities moving in the right direction.

Boulder has been singled out as one of the “10 best city for the next decade” in the July issue of Kiplinger’s Personal Finance magazine. It’s no wonder with all the planets aligning with Boulder. First of all there is the University of Colorado-Boulder, the federal research labs and more than 6,601 small businesses and corporation. Kiplinger chose cities for its next-decade list on the basis of current and likely future growth in high-quality jobs and income, housing affordability, public-transit infrastructure and the size of the local “creative class” of scientists, engineers, educators, writers, artists and entertainers, among other factors.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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2 Major Mistakes to Avoid when Selling your Home

Posted by Michael Hughes   May 27, 2010

When you begin the process of selling your home you begin an information gathering process. What’s the market like relative to your house. Which realtor do you have rapport with. Who do you feel is confident to get the job done properly? What brand has the best vehicle for exposure?

You will soon find out that you must be the price leader, the condition leader, the location leader. I believe you must work backwords from the closing table.  It does not matter what a buyer is willing to pay (unless it is cash and there is no appraisal) but most properties bought are bought with a loan component.  With that in mind the next thing working backward (with the exception of the loan conditions being met) is the appraisal. So important. The house must appraise above or at the offer price with no conditions.  Working backwards we get to the home inspection and the conditions (seen or unseen of the home). The two biggest killers of deals are the inspection (some buyers believe this is the time to renegotiate the price; it is not). The second deal killer is the appraisal. Especially if you are working with appraisers/underwriters unfamiliar with the market you are working in.  This can be a challenge even for the most patient. Two things can remedy these problems.

  1. Get your property in perfect condition and keep it show ready.
  2. Price it properly so there are no issues with the appraiser or the underwriter.

If you are going to buy a house in Boulder or just have a question about anything Boulder, call me today.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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Close, very close to the bottom

Posted by Michael Hughes  May 26, 2010

It is expected that the nation’s housing bottom will be hit in the 3rd quarter of 2010 causing somewhat of a seesaw effect.  Expected are high unemployment, higher mortgage rates and  higher foreclosure rates, not to mention short sales. Sellers that are waiting for the market to improve are likely to put their homes on the market. This may in fact flood the inventory and cause a slight seesaw down in prices.  If you own a house in Boulder, you may have noticed housing prices have been somewhat flat and decreasing minimally, while areas like Louisville have had a substantial increase in sales and prices. A housing market that has hit the bottom also stops seeing a decline in housing prices. In other words, housing prices stabilize. This is a very good sign for Boulder and the surrounding area (see current Boulder and surrounding area Statistics). While there are several million homeowners who want to move into a different house or neighborhood, they do not because of negative equity and the loss they would incur. What sellers don’t see is that they will have the same gain depending upon where they  buy next. Sellers do not like to be “trapped” and with the slightest improvement in the housing market they will put their homes on the market possibly causing the see to saw effect. To read the entire story.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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Get more done, get up early

Posted by Michael Hughes  May 20, 2010

  1. When I first wake up I usually meditate for about 20 minutes then quiets me down.read for about 15 minutes just to stimulate my brain waves.I jump out of bed and know whatever happens today it’s a great day already. How do I feel? Super good and getting better! Where do I live? Boulder, Colorado.The quiet time of the morning is thought provoking and my time when I get the most done.Sunrise is one of the greatest things to wake up to and if you are out running it is even better, breathing cold air waking to the new day. What a great new day to be in. I am totally grateful and appreciative.Breakfast just tastes better when you have time to enjoy it.Mornings are the most productive of all time, quiet, no distractions, I can get 4 times more work done at that time of day than any other. Also a great time to review your goals. It’s much easier to make those early appointments on time if you get up early. Showing up late for those appointments is a bad signal to the person you’re meeting. Show up a little early also you will have had time to prepare and wake and be ready.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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The Boulder Money Magnet

Posted by Michael Hughes May 19, 2010

The FAA has awarded Boulder-based Flatirons Solutions, together with prime contractor CSSI Inc., a $280 million contract to perform engineering work on upgrading the nation’s air traffic management system. It will be the largest contract in FAA history.

Always good to hear of more job creation in and around Boulder. This could be hundreds of jobs and create a great deal of tax revenue for Boulder. Which we really need and can’t create all the revenue needed by traffic and speeding tickets. Everyone’s gotten wise to the speed traps and the new “if you are 5 miles over the speed limit we will ticket you” concept. We need to find new ways to generate revenue other than putting all on the local police force.

It makes sense. Boulder attracts more businesses and people. It is the place to Thrive! Read the Entire Story here.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me at 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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Filed under #1 place to thrive, buy house boulder, FAA, Fuller Sothebys International Realty, investment capital, investors, jobs, relocating to boulder, relocating to boulder county, technology

Fighting City Hall-Ways to fight Your Assessment

Posted by Michael Hughes    May 13, 2010

Many homeowners are challenging their property tax assessment to save money where they can. Many municipalities are trying to make up for shortfalls in revenues in their city or county. Truth be told some assessments are over –priced.  Often Tax assessment values are not usually for the actual time period, let me explain, in Colorado home owner taxes are paid in arrears. Arrears means in 2010 you are paying for your 2009 taxes.  The taxes must assess the value for when the taxes are being charged. This method can really be skewed if they are not using comparables for the actual time period of the tax assessment.

  • Find out how your county calculates home values for your house in Boulder
    (there is no consistent method; ask the county if they use nearby comparables during the same time period as the tax or are they using replacement value (which can be much higher).
  • Go online (or call me) or go to the county and pull the public records and make sure all the square footage, number of bedrooms, bathrooms, buildings and acreage are accurate for your property. Check the zoning, this can hugely skew taxes especially on agricultural properties.
  • Compare your home to comparable homes of equal size and location, check to see what the tax is on those homes. It should be very close compared with your home. Build your evidence file and spreadsheet the properties, date sold, include square footage and all amenities and price paid per square foot. Also list the similarities and differences that may cause adjustment to price up or down.
  • Set up an appointment with your assessor once you have gathered all the evidence pointing to the belief that you are being over charged. Show the assessor your evidence and ask for an opinion. If the assessor agrees that the assessment may be too high you will most likely have an easy time of it. If the assessor thinks your tax is okay as is, be polite and move on to the appeal process.
  • Compile all your evidence and reasons why the tax being charged is too high. Put it in a simple to read letter with all your spreadsheets and evidence.
  • Hand deliver or send certified mail receipt requested with your appeal. While you wait for an answer on your appeal make sure you continue to pay your property taxes in full if you don’t  you may incur penalties and interest.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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Filed under Boulder County, lower living costs, taxes, Uncategorized

Boulders’ Dawson to give free iPads

Posted by Michael Hughes   May 11, 2010

Every fifth- and sixth-grader at the private Dawson School in Boulder will be receiving an Apple iPad at the beginning of next school year. The school will be researching the efficiency of e-readers. Given the results of the test the school may expand the program in to other grades.

What a great place to be a fifth or sixth grader. iPads. This program is coming at no additional cost to families as it will come out of the already existing Fund for Excellence. And also given the cost of going to Dawson I am sure it is built in to the price. Nonetheless while my daughters have long graduated grade school wouldn’t it be nice if all kids could have iPads, not in a socialistic type thought but just the opportunity to have a tool like that for science projects, or researching for papers or if mom and dad were house hunting looking for a house in Boulder.

Technology used to change every 18 months, then weeks now it may just be days or hours. Spinning quicker than ever, making our lives better, if we choose to use them. But what happens to the people who choose not to be technologically contemporary? Do they have a less rich life? Probably not. Is it better now that we have people focused on “things” like computers, and tweeting and iPads? Or would it be better if we were more connected with each other or is this the “new connection?” The future of bff. Nothing is better than connecting with another human face to face. Not even an iPad can replace that.

If you have questions regarding this article or are thinking you will Buy A House In Boulder please call or text me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO. Featured Listings

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Filed under buy house boulder, dawson, education, iPad, technology