Category Archives: sell house boulder

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.

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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. 

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When should you pay more than asking for Boulder Real Estate?

Posted by Michael Hughes

Home sales in most of the country are floundering yet in Colorado and particularly Boulder, Boulder real estate is hanging in there. Unlike Detroit or some other areas,  I won’t mention, people actually ‘want’ to live here. We see the healthy lifestyle, coffee, world class dining, convenience, outdoor sports, 300 days of sunshine and a lifestyle to love. Boulder; home to the happiest people on the planet.

Couple that with low interest rates and now you have multiple offers with prices surpassing asking price. This of course will occur when a great listing comes on the market and it’s priced at or under market (did you know you can never price a property too low-the market will bring multiple offers and push it up, often past where the price should be-the market is a force and it is never wrong-I have used this as a strategy and it does work).

Paying over the offer price for Boulder real estate can be a good idea if the property has all the bells and whistles you want and as long as it appraises unless you are offering cash without an appraisal. Make sure it will appraise and that the price can be justified by recent sales activity in the area. Your Realtor can pull all this data together to see if it makes sense.

*Fair market value is the price a willing and able buyer will pay and seller will accept with neither party under undue pressure to act.

The decision of how much to offer should be based on a sound knowledge of market data/values in the area, your personal financial situation and lifestyle goals. If you do choose to pay more than the local comparable sales indicate, recognize that you may not be able to sell for the price you paid right away.

Michael is a longtime resident of Boulder and a Realtor with Fuller Sotheby’s International Realty. If you have questions regarding this article any of the neighborhoods or have any questions about Boulder 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. 

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Boulder Real Estate Negotiation

Posted by Michael Hughes

Negotiation: (Ne goshee aysh n) The reaching of agreement by means of competitive, collaborative or compliant negotiation. The goal to win and control, influence and persuade. The biggest fear of Boulder real estate negotiations by buyers or sellers is that you will be taken advantage of, be rejected or criticized. In other words you will pay too much or sell for too little, give too much or get too little. The trust level in negotiations can be from zero to willing to build, to eager to trust (not recommended). Power can be abused, shared or given away (once again not recommended). The tactics can be intimidation, broken record, take it or leave it, what if and asking why. I always use a combination of competitive and collaborative. Typically gathering information for using or adopting solutions and options. Primary emotions can range from anger, optimism or fear. I come from a firmly grounded desire for my clients, never fear and always emotionally detached. The main method of influencing is self interest (of my clients), sound logic, exchanges, uniqueness, sameness and contrast. The way you create value affects how it gets divided. Focus on the right brain then bridge to the left logic bound side. When you persuade, speak of interest, not reason.

I am a Certified Negotiation Expert in the Boulder real estate market. Always bringing my clients the best of what they want. If you have any questions about negotiation, would like to comment or need help buying or selling Boulder Real Estate or if you are interested in Listing your Boulder Real Estate please, TEXT, call or email me. You can also visit me at my Website. Thanks for reading. Michael Hughes at Fuller Sotheby’s International Realty-Boulder, CO

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Did You Know…

Posted by Michael Hughes—May 24, 2011

The U.S. has accumulated as much debt, $7.13 Trillion, in the past 7 years as it has in its entire history up to 7 years ago-Treasury Department

Through the first 4 months of 2011 the U.S. Stock Market’s value has increased by $1.4 trillion to $16.9 trillion-BTN Research

The top 1% of taxpayers paid an average tax rate of 34.5% in 1980. In 2008 they paid an average tax rate of 23.3%.-IRS

The bottom 50% of taxpayers paid an average tax rate of 6.1% in 1980. In 2008 they paid 2.6%-IRS

Over the last 20 years the value of assets owned by Americans  tripled in value to $71 trillion-Federal Reserve

At the same time over the past 20 years the debt owed by Americans quadrupled to $14 trillion-Federal Reserve

So…the total net worth of Americans is $57 trillion-Federal Reserve

On May 4th the government released a list of 12,217 properties owned by the federal government that are “excessive and unnecessary.” -Civilian Property Realignment Act

Nearly 1 out of 4 of those properties are located in California-CPRA

Boulder real estate home sales had diminished total number of homes sold year over year for 2011. Average price is up 1.1% YOY. Number of days on market is down to 79 days on market or down 2.9%. 71 homes between $720k and $4.15M sold since January 1st 2011 and 63 homes between those price ranges are under contract.

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 Neighborhoods 105

Boulder Neighborhoods 105 the Outback (be sure to check out Boulder Neighborhoods 101-104 Blog Posts).

If lower taxes, a shorter commute to Denver or Fort Collins, more house for your money and great panoramic views are your thing. This may be just the Boulder real estate ticket for you.

Erie started out as a coal mining town and a small train hub town. This was one of those out of the way towns where there was no church so it brought on a parade of traveling preachers. One such preacher was Reverend Richard Van Valkenburg, civic leader and founder of Erie, Colorado. Since then communities have grown from Arapahoe Ridge, Erie Village and Vista Ridge a golf course community.  Homes range from $250K-over $1 million.   The style ranges from Victorian in Erie village to contemporary in Vista and Arapahoe Ridge.

Schools in Erie are Blackrock Elementary, Erie Middle and Erie High School.

Frederick in the early 1900’s this was a coal town. Firestone has grown up and is one of the fastest growing municipalities in the past 10 years on the front range. The over view of these two communities is that you get a great deal of house for your money. 10 reasons to move your business to Firestone.  This is a fiercely independent community and one that bears a second look if you are a commuter north, south, east or west. Taxes are lower and houses abundant with panoramic views of the front range.

Schools serving Frederick and Firestone are Frederick Elementary, Coal Ridge Middle and Frederick High School and Fort Lupton High School

Dacono is a small town with a bigger town feel. Houses are abundant and in many price ranges, parents looking for low student teacher ratios will find that here. Along with spectacular views of the Rocky Mountain chain.  Butler Elementary, Fort Lupton Middle and Fort Lupton High School

Schools serving Dacono are

Fort Lupton is a rural community situated in southern Weld County along the banks of the South Platte River. The town anchors the eastern side of a triangle with Boulder and Longmont, and is conveniently close to two of Colorado’s major highways. A drive to Denver’s International Airport takes only 30 minutes. Houses are priced lower and with lower taxes and low student teacher ratios this is a great place to call home.

Schools serving Fort Lupton are Butler Elementary, Fort Lupton Middle and Fort Lupton High School

If you have questions regarding this article or have any questions about Boulder, Boulder real estate 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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2011 Boulder Real Estate

Posted by Michael Hughes-Sotheby’s International Realty

2010 was a great year for me personally in Boulder real estate and I have much gratitude. I see many changes as I look into the future. 2011 is going to be better yet. Many possibilities and opportunities will come to pass in 2011.

  • Jobs– Improvement was seen in 2010 in the housing market.  The improvement won’t be dramatic until we see pervasive job growth.  Housing prices will remain stable in Boulder.
  • The “F” word or the “S” word – Foreclosures and Short Sales of course. Boulder has had a few of these, very few comparatively speaking. Short sales and foreclosures create excess supply, artificial low prices and provide downward pressure on pricing. There is very little “shadow market” in Boulder and this is great news.
  • Robust Rental Market-this is great news for potential tenants and will see a saturation of cool rental properties, much to the chagrin of landlords.
  • Interest Rates Will Increase– Interest rates are at nearly 50 year lows.  Rates will rise in the near future. If you don’t get a loan or refinance now, you will wonder why you didn’t take advantage of these rates a year from now and buy that Boulder luxury real estate.
  • Buyers Become Commuters – Many buyers that work in Boulder are willing to buy outside the city and take up the commute.
  • Housing Shortage – Population continues to increase. In Boulder County new housing starts are way down.  There is a continual rise in population in Boulder.  Something’s gotta give.  What this says to me is the builders will be caught with their pants down (except Markel who continues to build) and the shortfall of housing will result in fewer available housing choices on the market for buyers. This of course will happen over time.
  • Did you Know? — Did you know that in Boulder last year between November and January 39 homes over $750K sold?! That is one home every 40 hours. I professionally have had the best year ever! I nurture and care for my clients. Call me today if you need help selling or buying Boulder real estate.

If you have questions regarding this article, have any questions about Boulder or 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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