Category Archives: lifestyle

Boulder Real Estate Housing Shortage

Posted by Michael Hughes-Sotheby’s International Realty-Boulder, CO

Everyone is focusing on the fact that there are foreclosures and cheap housing to be had; all things being relative that doesn’t really relate to Boulder real estate because we have so few foreclosures. Ok yes we have some foreclosures and some short sales. But everyone is looking “over there” and not looking at the impact of what may likely be the biggest housing shortage of all time.  The thought right now is with fires, teardowns, lack of new builds and worn out properties, we need at least 1.6 million new homes (in the U.S.) right now to just keep up with the population growth. Housing starts are down. The population is growing. When we have job growth; Lookout!

According to RealtyTrac 315,716 properties had foreclosure filings last month. The filings included default notices, auctions and bank repo’s. Mortgage rates are very low. Mortgages are not difficult to find if you have a solid job and good credit. Investors and savvy buyers are snapping these properties up to add to their portfolios. Smart buyers are buying now. When you think of vineyards you think of micro-climates. Boulder is one such micro-climate in the U.S. real estate market. Boulder is the beacon of value and prices staying at a good and sustainable level. Once the job creation is back in place we will have some double digit years of appreciation coming in the Boulder real estate and the Boulder luxury real estate market.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Filed under 2011, best place to live, bolder real estate, boulder luxury real estate, buy home boulder, buy house boulder, economy, employment, home for sale in boulder, homes in boulder, house hunting boulder, house in boulder, Housing market bounce back, housing shortage, lifestyle, Real Estate Investing, relocate Boulder, relocating, relocating to boulder

Phantom Strikes Boulder

Posted by Michael Hughes – Sotheby’s International Realty – Boulder, Colorado

Phantom Sculptor strikes again in Boulder. The underground scene is alive and well in Boulder, Colorado. Similar to Boulders’ version of Banksy in London, no one seems to know who the sculptor is. An anonymous statement. Whereas Banksy “graffiti” or “art” is clearly a style of satirical street art and subversive epigrams combined with  irreverent dark humor; no one seems to know what the “meaning” of the sculpture is that was planted in the front of some Boulder real estate late last week.

Does there need to be a meaning to everything? Well not really. It is fun and somewhat whimsical and to Donna Coughlin the Boulder Home owner, a little nostalgic as this happened 23 years ago when a CU artist named Mark Guilbeau dropped a sculpture on to her front lawn and left the same gift; Again this time attached to the base of the sculpture was a round tin box holding a pair of earrings and a note with letters and words cut from a magazine spelling out “We hope u enjoy this thing,” signed with the letters PS. Again the box and the earrings appeared. Mr. Guilbeau was unavailable, as in, not to be found for comment. Coughlin found the similar earrings in a box attached to a sculpture that mysteriously appeared in her front yard more than 23 years ago, in 1987. Click here for the entire story.

Another mystery sculpture has appeared in Boulder. This time, employees at the Boulder History Museum noticed the artwork as they arrived Tuesday morning. It was standing on the front lawn of the museum. A set of earrings in a box attached to it as well. Similar to the Coughlin sculpture.

Boulder is truly an amazing place to live. World class athletes, entrepreneurs, eclectics, a small town feel, close knit community activism and artistic eccentricity to balance it all out.

Happiness is a choice. Joy is a journey, not a destination.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Boulder Luxury 2011

Posted by Michael Hughes-Fuller Sothebys International Realty

After my buyer clients wrung their hands about the nation’s bad economy, high unemployment rates, the fragile economic recovery, and other catasrophic economic  stories they had seen on CNBC, Fox and CNN or read in this morning’s paper;  I replied with a simple question: “Ok, but how is your personal economy doing?”  After a puzzling look from my clients, I explained that while the nation’s economy is important, it’s not nearly as relevant to them as their own personal circumstances when it comes to buying or selling a home.

In most cases my buyers have solid jobs with excellent incomes, strong savings and investments. With Boulder Luxury Real Estate and home prices bouncing on the bottom in a narrow margin up and down  2%, and mortgage rates near record lows, they were in my opinion in a fantastic position to buy and afford the home of their dreams – most likely in a better position than they will be in the future when interest rates rise and home prices rebound.

Assuming your “personal economy” is reasonably good, it may be time to swallow your fears and take advantage of this window of opportunity and buy a home. Call me today and let’s see if we’re a fit.

  • Boulder—Sales continue to increase with October 2010 showing a 38% increase in over $1 Million sales in Boulder County.
  • The Boulder real estate market continues to be strong.
  • Interest rates while starting to inch up are still pretty low.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Divorce and Selling Your Home

Posted by Michael Hughes – Sothebys International Realty-Boulder

Once in awhile, the most satisfying days for real estate agent Michael Hughes of Sothebys International Realty in Boulder, Colorado are the ones when he goes to a listing appointment and the homeowner says no he doesn’t want to sell. “I love ‘No’s. Don’t get me wrong I love Yes’s as well but it has to be a good fit for me as well as the divorcing couple.” Says Hughes. First it has to be a good fit for them, a good fit for me and the house has to be a Sotheby’s quality home.

I specialize in Boulder real estate sales related to divorce, a niche I cultivated after my own marriage ended several years ago and I became painfully conscious of the uncertainty and apprehension that can surround this major marital asset.

Going through a divorce is confusing and anxiety inducing. I wasn’t sure of what to do with my house after the divorce and all my friends were giving advice. I love my friends however I am glad I didn’t listen to them as it was some of the worst advice.

I decided that the financial strife that goes hand in hand with divorce must be universal. Any real estate agent who focuses on divorce-related sales not only is going to have to be able to endure a certain amount of pressure and potential friction, but also has to tread a fine line between empathy and business like detachment.

When I started listing and selling houses of couples divorcing, the tendency would be to want to listen (to sellers discussing their marital breakups), after awhile I set my boundaries and realized they needed to talk to therapists not me about their marital strife. I am a Realtor I can help them move on by helping them get their home sold quickly and efficiently. I keep a list of therapists, lenders, insurance agents, mediators and financial planners handy at all times.

I work as a transaction broker.  I represent both divorcees in the sale of their Boulder real estate. Often this requires a double set of every communication and separate and often equal approvals for each decision.

When it is a court ordered sale then it must be done and it is a matter of showing both parties that I can represent them both rationally and safely and that they are both safe. I will not bias to one side or the other as a Transaction Broker ever.

If you are divorcing please give me a call. I can help.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Time to Celebrate in Boulder County

Posted by Michael Hughes-Fuller Sothebys International Realty

Break out the Champagne or better yet the Screaming Eagle 2004 Cabernet Sauvignon Magnum. According to recent reports foreclosure sales dropped to a 19-month low in the majority of Colorado’s largest urban counties in October 2010. While Boulder real estate and Boulder luxury real estate has not been hit as hard it is still a reassuring report.

Foreclosure public trustee sales fell 38 percent from September to October 2010 as many banks halted foreclosures. Whilst this short-frame picture may not be a proper indicator; the 19 month low is a good indicator with a sufficient amount of substantive data.

Foreclosures are down 38% for Boulder real estate in the County YTD and down 60% YTD for Broomfield County. A substantial drop for both counties and even figuring the bank halting of foreclosures for approximately 11 days this is a very good sign. While the shadow inventory does loom out there it does not seem to be a significant problem that will impact housing prices to lower levels as previously thought.

All metro counties showed decreases in foreclosure sales at auction, comparing year-over-year. The only area there was an increase was in Mesa county coming in with an increase of 35%.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

 

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The Bad News First

The bad news first. Wikileaks has reduced your ability to function and generally weakens the intelligence and military community. The good news is there are special rules for members of the Military, the Foreign Service and the Intelligence Community regarding the Home Buyer Tax Credit when you return home. Given your unique circumstances Congress is allowing:

  • An additional year to utilize the HBTC or the Home Buyer Tax Credit.
  • Exemption from the Tax Credit Recapture Rules. Great good news as this allows you to avoid thousands of dollars of recapture you normally would have had to pay. Ask your accounting professional or coach about this and how it applies to your situation.

When you are thinking of a great place to live and/or raise your family, think about buying Boulder Real Estate or Boulder Luxury Real Estate in Boulder County. 300 plus days of sunshine, small community feel with big city amenities. The safest investment you will ever make.

Rules for the Tax Credit Deadlines Extension

  • The typical home buyer tax credit was available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010.
  • However, for qualified service members who are ordered on a period of official extended duty, these dates are extended even more. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
  • A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension as well.

Definitions

  • “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
  • “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Pied-a-Terre Boulder Chic

Pied-a-Terre

Posted by Michael Hughes

Suburbanites who get a chance to experience life in another city without doing an extended hotel stay will usually buy a Pied-a-terre  or what is commonly known as a second home. Don’t you agree Pied-a-Terre does sound sexier?

People want to be more than a tourist and are drawn by locations that have a robust business, iconoclastic local lifestyles, vibe, attributes such as architecture, culture, history, art, and also shopping, world class dining, nightlife and social events.  These cities inspire people to become part of daily life if only for a day a week or a month.

People are looking for a lifestyle change and to be able to Gestalt the location. Many buyers say they feel ‘renewed’ like youngsters again but with the options. Usually cosmopolitan types who travel a lot; or like a nice family from Chile who found Fuller Sotheby’s International Realty a few months ago because they wanted a home in Boulder outside of Santiago to offer their children the “American experience.” Or the people from Milan who wanted a place to be near the downtown area of Boulder, or the family from Shanghai who wanted a getaway and a place to renew, recharge and thrive for short periods of time. We have helped them all. People want to be a “local” not just a tourist passing through.

The Pied-a-terre in Boulder Real Estate in my experience has been the downtown lofts in The Walnut or the Arête, the Newlands, Whittier and Mapleton Hill and the close in downtown or the close in Country Estate.

A pied-à-terre is usually purchased for the Boulder lifestyle. Think well chosen, think green, think resale and you have one of the best possible real estate investments that has universal appeal. Cool location, size and condition are key. A hip central location in a leading neighborhood allows owners to access a city’s attractions quickly, within walking or cycling distance and often without a long commute.

Owning something that’s easy to maintain is extremely attractive because they are not often used. Move in ready, no maintenance and sound. No one wants to spend their time supervising work crews. Buy only where there are other Pied-a-terre buyers not a gaggle of subletters. What the objective is, is prime real estate and convenience in an atmosphere you find enjoyable.

In Boulder Real Estate right now it is  “a great opportunity to buy.” Boulder is a city that is alive with business, culture, activity, green building, active people, sports, world class dining and a view to die for. Breathe deep and thrive in Boulder, Colorado.

If you have questions regarding this article or have thought about selling, renting, investing or  would like to Buy A House In Boulder check out my website. You may also call, TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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