Category Archives: Pied-a-Terre

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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Boulder Luxury Real Estate Market Rallys

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

Buyers snapped up 125 luxury homes in the Boulder area from November 30th 2009 to November 30th 2010 priced at $1 million or more, a better than 21% increase from a year ago (November 2008-November 30th 2009). That is a discernible improvement from a year ago when the luxury market dipped by more than 50 percent. These were all single family homes in the Boulder Luxury Real Estate market in Boulder County. Whether it is a Pied-De-Terre or your family home, it shows that buyers are feeling more confident. When they look at their portfolio they are no longer running for cover. These buyers couldn’t care less about a buyer tax credit. They do care about getting value and feel more relaxed knowing that there is a prosperous and robust luxury housing market in Boulder County.

Realtors specializing in the high Boulder Luxury Real Estate market say more prosperous buyers are taking advantage of sellers eager to slash prices. In addition  near historic low interest rates are abundant. Now don’t expect those interest rates to stay as low as they are. They are already starting to feel upward pressure. Even if they can afford to pay cash, many high-end buyers will put debt on a house in order to shelter money and seek out higher returns with their liquid capital elsewhere.

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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Boulder Softens Building Rules

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

We know you would like a bigger house in Boulder. In Boulder luxury real estate, the commissioners say you can’t have a bigger house in Boulder, unless you have the money then you can have a bigger one.

It is difficult to build a house in Boulder larger than 6,000 square feet. This has been a rule since 2008. If you really want a larger house you can buy what are called “development offsets.” Very few people have purchased the offsets to increase the size threshold. Boulder luxury real estate is suffering from these autocratic rules.

Because this has been a problematic and controversial rule in Boulder, the Boulder County Commissioners (have been pressured in to re-thinking these tightly bound rules) they finally have unanimously voted to soften the program’s rules. The house rules were developed in response to the large homes being built in Boulder County. Always “trying” to keep it green the county planners tried to reign in building the larger homes while increasing local coffers.

The program necessitates the builder of homes larger than 6,000 square feet to buy TDC’s (Transferable Development Credits) these are sold from vacant land or from homeowners who decide to maintain their homes at 2,000 square feet or smaller.

The new softening of the rules the commissioners approved allows homeowners to add a one-time addition of up to 200 square feet without buying any development credits. I applaud this as a decision in the right direction (coupled with other decisions) and will ultimately help get Boulder’s house market going better than ever.

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 Real Estate

The Peoples’ Republic of Boulder sees itself as unique. A sort of utopian society at the foot of the Flatirons.  A love for staying fit and blissed out with just the right amount of intelligence and 300 plus days of sunshine. Blend that with open space, packs of lycra clad Lance look-a-likes, runners and hikers burning it up on the trails and streets, and moms pushing their progeny at a pretty good clip. Over 200 miles of open space trails accessible from the city and there you have Boulder. In a nutshell; Green, hip, smart, cool and somewhat quiet. If you are looking for Boulder luxury real estate, it ranges from $650K to about $9M.

If you are coming to see family, friends or just look the town over for your next VC investment company or to house hunt for that special house in Boulder. You can stay at the elegant St. Julien or the historic Boulderado (request a south or west facing room for the best views) Both within walking distance of the pedestrian mall on Pearl Street. Here you can find boutique shopping, local coffee shops, entertaining street acts and fine world class dining.

In the summer Chautauqua (one of only 3 left in the U.S.) continues to draw well known classical musicians, pop and folk. The hiking; extraordinary, the food; outstanding and the views when Mozart wafts out on to the open air; transcendent.

Wonderful world class eateries await you after a long day of hunting for a house in Boulder.  The Kitchen locally grown  food presented in a very cool place, Salt is Bradford Heaps’ newest creation (exceptional eclectic foodery), Jax where Josea Rosenberg hangs his chefs hat and of course last but not least to the east on Pearl is Frasca from former chefs at the French Laundry. There are many more to chose from but these are just a handful of my favorites.

If you have questions about this article or questions about Boulder Luxury Real Estate you can TEXT or call me (Michael Hughes)  at 303-359-6627. I have lived in Boulder for well over 25 years and work with Sotheby’s International Realty in Boulder, Colorado.

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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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