Did you Know…….?

The price of gold on the day of the opening ceremonies of the 2008 Beijing Summer Olympic Games 8/8/08 was $857.80 an ounce. The day of the opening ceremonies in London the price of gold was $1,617.90. – BTN Research
Housing starts climbed to an annually adjusted 760,000 in July. – Commerce Department
That is a 37% increase from 2009’s 554,000 housing starts. – Treasury Department
It is still way below the 1.1 million housing starts needed to just keep up with our growing population. – Mortgage Daily News
32% of homes are owned free and clear. – Federal Reserve
24% of home owner’s with a mortgage are underwater. – Federal Reserve
In 1880 72% of Americans lived on farms. In 1920 that number dropped to 50%. Today just 2% of Americans live on farms. – Social Security and the EPA
1% of the population accounts for 21.8% of all health care expenditures. 5% of the population accounts for 49.5% of all health care expenditures. – National Institute for Health Care Management
The average American aged 65 or older makes 8 visits per year to a doctor, a hospital and/or an emergency room, that’s once every 1 ½ months. – Center for Disease Control
The cost of living in the US increased by 25% in the decade of the 50s, 28% in the 60s, 103% in the 70s, 64% in the 80s, 33% in the 90s and 28% in 00s. – Department of Labor

Michael is a longtime resident of Boulder and has been in real estate since the mid 90′s and with Sotheby’s International Realty since their inception in Boulder County and along the front range. About Me If you have questions regarding this article or would like information about Boulder real estate not yet on the market, call me or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes

12 Great Reasons To Sell Your Boulder Real Estate In 2012

1. The Denver/Boulder area is the #1 place to invest in real estate. Boulder real estate being the tops. View the video from CEO-Greg Rand-OwnAmerica.com
2. The average rate on a 30 year fixed mortgage has dropped significantly to a low 3.87%.—Associated Press
3.  The Denver /Boulder real estate home inventory has not been this low since 1999.—Denver Metro Association of Realtors
4. The number of homes on the market dropped some 30% in November from a year earlier, likely the greatest year-over-year drop in metro area’s history—Inside Real Estate News
5. Dow at a 4 year high; Nasdaq hits 11 year high—CNN Money.com 2/3/2012
6. Boulders apartment vacancy rate hit its lowest fourth-quarter level in over a decade at the end of 2011—Denver Post
7. Inventory available of single family homes in Boulder County in February, 2012 is 69% lower than at the same time 2 years ago; meanwhile luxury home inventory is down 42% in the Boulder area—Inside Real Estate News
8. Denver/Boulders median list price is higher than the national average—Realtor.com
9. The Denver/Boulder area has the lowest average days on market of 146 national statistical metro areas—Inside Real Estate News
10. Denver/Boulder area ranked #1 by Case-Shiller Index and S & P
11. Denver/Boulder’s population will grow at a faster-than-average rate in 2012, and combined with a tight inventory of existing homes and job growth will boost housing construction—Denver Metro EDC
12. Low interest rates + low home inventory = Highest price for your Boulder Real Estate.

Low Interest Rates + Low Home Inventory = Highest Price For Your Boulder Real Estate

If you are looking to buy or sell a home in the coming year, allow me to extend my full range of premium services toward your real estate success.

Call 303-359-6627 or visit Boulder Real Estate

Michael grew up near Santa Fe and is a longtime resident of Boulderand has been with Sotheby’s International Realty since their inception in Boulder County and along the front range. About Me If you have questions regarding this article or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes

Short Sale Colorado

Short sales can be painful.  Add to that, the concern, that the bank may come after you years later, for a deficiency, a tax consequence or send you a 1099 or promissory note to payback the deficiency. All of these can be devastating to your finances,  often spinning short sellers into bankruptcy. A short sale takes about 3 years to overcome, a bankruptcy can double that, foreclosure can add more time. The title to the property may be clouded by a deficiency or a judgement which can also cause future issues.  If the short sale is not done properly and in a timely manner it can lead to foreclosure.

What would you think if all of the problems with a short sale could be negotiated away and done in a timely manner? No deficiency! No tax consequence! No 1099! No promissory note! Short sales are tough enough on the homeowner. They don’t need to complicate your life and make it worse and spin you in to bankruptcy.

We work with investors who utilize their own in house negotiators to negotiate all the guesswork out of short sales. We can negotiate away the tax consequence(s), the 1099, the promissory note, the deficiency. What this means to you is no further problems or issues to deal with in the future. It is a clean short sale. No future surprises.

We can help you. Call me today to see if you qualify for a short sale. We can help take the pain part out of the short sale process.

Michael grew up around Santa Fe and is a longtime resident of Boulder and has been with Sotheby’s International Realty since their inception in Boulder County and along the front range.  If you have questions regarding a clean short sale or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO.

Boulder Real Estate-In Praise of Louisville

WINNER 2011 Top 100 rank: 1
Population: 18,400
Unemployment:6.3%Compare Louisville to Top 10 Best Places

The report highlights small towns across America with populations of 50,000 or less, high job opportunities, fiscal strength, excellent schools, safe streets, great health care, outdoor and cultural activities and 300 days of sunshine (great weather).

The writer says it is a “sunny lively mountain town”; it is not a mountain town. While the views are great of the front range, Louisville is mostly in a valley and is situated on the “plains.”  I agree with “crime rates are among the lowest in Colorado” and the town is “easy to navigate.”  Louisville boasts lots of good jobs in tech, telecom, aerospace, clean energy, alternative energy and health care and many companies are relocating to the area as happy workers are great workers. In addition there are  world-class mountain biking, hiking, and skiing nearby as well as in the close by Rockies. Housing prices are still lower than Boulder real estate and schools rank well and are in the top three academically. Not everyone wants to live in Louisville;  however given the Music Festival, the Farmers Market, Street Faire, the great little mom and pop restaurants that have been here some since the 50’s and Main St. Louisville, what’s not to like? Read Money Magazine article. Ps. Superior Colorado came in at 20/100!

Search the MLS for Louisville or surrounding area

Michael is a longtime resident of Boulder and one of (FSIR’s)Fuller Sotheby’s International Realty. If you have questions regarding this article, Louisville or Superior or  would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO. 

Awesome Lineup-Why I love Summer!

Awesome lineup in Louisville, CO

• June 17 Little Feat

  Hello Faire family. Little Feat in little ol’ Louisville. Crazy, right? Let’s make it crazy cool. Come ready to have fun, but also come ready to be kind and mellow with your fellow music lovers.
  Peace. The Street Faire Staff.

• June 24 The Samples

  We’re thrilled to have The Samples at The Steinbaugh for the first time! It’s going to be a rock-n-reggae party with local-boy-made-good Sean Kelly and band.

• July 1 No Faire

  See ya next week!

• July 8 A Very Special Evening with Chris and Hazel

  Two of Colorado’s most beloved and talented musicians, Hazel Miller and Chris Daniels, have each played the Faire a record six times—join us for lucky seven.

• July 15 Great American Taxi

  “Americana Without Borders” is how GAT describes their no-limits sound. It’s going to be an evening of amazing musicianship and good jam band vibes at the Steinbaugh.

• July 22 Tab Benoit

  Pure. Talent. More of that Louisiana vibe that seems to work so well at the Faire—Tab Benoit brings his take on the blues—from deep in his soul directly to Historic Downtown.

• July 29 Firefall

  They call the Steinbaugh “home.” Join 5000 of your closest friends for a magical evening with Jock Bartley and the timeless tunes of this legendary Boulder band.

• August 5 Hamilton Loomis

  If you’ve seen him, you know—if you haven’t—it’s time. Straight from the heart of Texas, Hamilton and band are flat out amazing—taking the Bo Diddley Beat right to your feet. Let’s dance.

• August 12 Marcia Ball

  Straight from N’awlins and back by popular demand, Marcia and her smokin’ hot band are making their third consecutive appearance at the Faire.

The Street Faire runs 5 to 10pm. Music is 6:30 to 9ish — rain or shine.

There is excellent food, cold drinks, lots of children’s activities, quality arts, crafts, sundries
and, because of our awesome sponsors, this event is FREE!

Call, text or e-mail me today if you or anyone you know needs real estate help or have any questions about the music festival in Louisville, Niwot, Boulder Bricks, Boulder 29th St or Flatirons. e-Mail michael.hughes@sothebysrealty.com  Direct/Text 303-359-6627 Website:www.bolderrealestate.com

Don’t Get Caught With Your Pants Down-Put it in the Contract!

Don't get caught with your Pants Down-Put it in the Contract!

By Michael Hughes  September 30, 2010

When you buy a house in Boulder, whatever you want kept in the house, cleaned, fixed, repaired, refinished, painted, pulled out, explained, or even permitted in the Boulder house you’re buying – put it in the contract or the Inspection Notice! Rule of thumb if it’s something you want; put it in the contract, if it’s something you need cleaned, removed, fixed or finished put it in the Inspection Notice (Notice to Correct).

The inspection is finished and whether you are the buyer or seller there may be a list of things that need to be addressed. When your Realtor creates a contract there is an Inspection Objection Deadline. This is not the deadline to have the inspection finished (it should have been finished earlier if possible) but is the date by which you must file an Inspection Notice. At this point you can decide to either check the box “Notice to Terminate” thereby terminating the contract or you can check the box “Notice to Correct” whereby you list the things you would like carpets cleaned, repaired, refinished, removed, etc.

Time to Negotiate!

Now, do some sellers automatically take care of cleaning the carpets, cleaning the floors, touching up the paint, filling in the nail holes when they take down their pictures?   Sure.  Sometimes.   But if it’s not in writing, you can’t count on it.  Sellers are only obligated to take care of the things that were in the contract or negotiated in the Inspection Notice.   That’s just reality.  If you don’t have it in writing you have to deal with it.

Put it in Writing – In the Contract or in the Inspection Notice

Dear other Agents, an email to me does not count as an amendment to the purchase contract or the Inspection Notice.  Never.  Never.  Never. Always present your clients’ requests on the appropriate  CREC form, with their signatures on it where required.  In the case of carpet cleaning, home cleaning, window cleaning, or tile cleaning – I would suggest to include these requests in the Inspection Notice-Notice to Correct.  Is the seller obligated to agree?  Absolutely not.  So you’d better put your marketing hat on and queue it up nicely for your buyer!  Make it as easy as possible for the seller to say yes and you increase your chances of getting it accepted.

First the Walk Through and then Closing. Always ask for invoices for repairs from professionals to be provided at closing. This will ensure that things have been done properly and by a professional or certified person.

You can’t always get what you want; or can you?

Here’s a short list of things that buyers have asked for up front, with their offer, and sellers have agreed to:

• Home and carpets to be professionally cleaned prior to Closing.
• The 200′ irrigation line and pump.
• The oil painting in the dining room.
• The 12’ Mirror with Gold Inlay
• The custom made curtains, throw pillows, comforter, bed skirt and upholstered chair that match the mural in the little girl’s room.
• The patio furniture all of it.
• The kids play-ground sized redwood play set with swings and a slide.
• The pot rack above the kitchen counter.
• The family dog.  Oh Yeah.
• And last but not least a BMW 535i in mint condition

Michael grew up near Santa Fe and is a longtime resident of Boulder and has been with Sotheby’s International Realty since their inception in Boulder County.  If you have questions regarding this article or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes.  Michael is a (CNE) a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO. What’s your lifestyle? I take great pride in my in-depth knowledge of Colorado luxury home market trends, research-based pricing strategies, having a powerful network of qualified luxury home buyers, first-hand Boulder real estate insight and a proven 16 year track record of selling unique Denver and Boulder luxury real estate.

Attention Boulder County Homesellers

By Michael Hughes                             September 27, 2010

So your house didn’t  sell?  Selling your home in a buyers market can be, to say the least, challenging, but here are some suggestions to help tip the scales in your favor. All the hours spent vacuuming and making beds and putting your stuff away and keeping dishes out of the sink and physically leaving your home, so complete strangers, who never make an offer, could look inside your drawers, your closets or even your medicine cabinets.  Or even worse, you get your house ready to show every day and no one comes. Really!

There are only three reasons why your  home won’t sell in today’s Boulder County Real Estate Market

1.      Emotional Appeal, that get ‘em in the gut, what I like to call the WOW factor

2.    Price (oh yeah, the money part)

3.    Exposure (what we Realtors call “Marketing” 21^st Century Style)

How WOW is your house?  The more WOW – the wider appeal it has to a larger group of buyers.  The better you’ll be at grabbing those picky buyers in their gut – where they’re vulnerable and they get all mushy and emotional.  Low WOW – well just be realistic about the price.  And about how your house stacks up against the competition.  You have checked out your competition, haven’t you?

How have you priced your house?

1. Below market value? Trying to start that feeding frenzy that’s got people more riled up than a Democrat on the Fox News Network?  Hope you can handle the volume of offers  and have a great Realtor to help you see the pros and cons of each offer.
2. Right at market value? – good for you – now get in the groove and get ready for an offer.
3. Over market value? Meaning, more than 1 red cent,  over what any other similar home has sold for in the last 3 months. Similar (size, bedroom count, lot size, upgrades, condition, location….) and actually SOLD in the last 3 months – not what some other confused seller has their somewhat similar home listed for .

So – when you’re ready to get real about getting your house sold. Give me a call.  I can help.

Michael Hughes. Fuller Sotheby’s International Realty-Boulder  www.BolderRealEstate.com or you can reach me at 303-359-6627

The 3 Scariest Words in Boulder County Real Estate

Short Sale Time Line

Posted by Michael Hughes   September 17, 2010

When you hear the terms Approved Short Sale it’s like you think your dream came true. All is good in the world and the planets just aligned in Boulder County. Snap out of it!

What I know is this. At one time there was a buyer for the “Short Sale.” Many months later it was approved, for that specific buyer at that specific price at that specific point in time. It is only approved in the sense that it is an approval for a contract that is no longer valid. More than likely for one reason or another, the buyer walked on the offer. Evaporated.  Hasta la vista baby.

So now you as a buyer of the “Approved Short Sale” come along. You are prequalified for a bank loan, you have your down payment in line and completely documented. You think that the last buyer did all the work and now you will slide in to the “Approved Short Sale.”  Not so fast!

“Woohoo” Approved Short Sale, this is awesome. Think again. The previous offer was for then. The net sheet for the bank was done so many months ago. Before the grass died, before they didn’t pay the HOA for months and before what used to be a Koi pond is now a toxic waste dump. So the savvy Short Sale listing agent is now in scramble mode to re-market the house.  He remarkets it as “Approved Short Sale” hoping to bring in a similar buyer. After  months and months of dealing with the bank on a short sale, many buyers say “oh just shoot me now, put me out of my misery.

Here’s the scoop on Approved Short Sales. The bank or banks if there is a 2^nd, 3^rd or 4^th lien holder will have to do a Re-Do. The bank will start from the beginning point and will proceed in the same way they did with the initial buyer.  There is an unknown, with the length of time of response and for the price, terms and conditions the bank will eventually get around to letting you know. So it’s back to square one and you will have to go through the entire process.

At least now you can decide if this is a game you wish to play and not put your fingers in your ears and say “lalalalalalalalala.” Just keeping it real in Boulder County.

Michael Hughes is a Realtor with Fuller Sotheby’s International Realty in Boulder Colorado. You may comment below. If you have a question you can call or text me at 303-359-6627 or you can view my website.

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

Mortgage Mix

Posted by Michael Hughes    April 13, 2010

When you are buying a home it’s challenging to acquire the right kind of financing. Having the right mix of savings, credit score and debt-to-income ratio will improve your chances of securing a loan.

Buyers today are obviously faced with new obstacles to financing. These new restrictions are part of the “hangover” from the 2008 financial meltdown and the easy lending frenzy of the recent past. But obtaining financing is not impossible. A solid job, credit score and savings will make it happen.

Ideally, prospective buyers have at least 6 months of reserved savings with a debt-to-income ratio of no more than 45%. Credit scores of 700 or greater are preferred. Thinking you are going to buy a home in Boulder? Prequalifying is a quick 15 minute conversation. Call me today if you need the names of reputable lenders I have worked with that do a great job.

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