Category Archives: selling your property

Sell Your Boulder Home-11 Tips

1. Hire a Professional Realtor. This is no time to be navigating the rough waters of the Boulder real estate market on your own. You want someone who can help you truly price your home, bring in potential buyers, handle contracts, and market your home to the global masses. You can check to see if there have been any infractions with a Realtor by checking DORA (Department of Regulatory Agencies-Colorado/Search Licensees ).

2. Fully Disclose. Are you selling your Boulder home because it needs more work than you can handle? Are there infestation problems you’d rather not talk about? Whatever you disclose, the Realtor will have knowledge of and must disclose to a potential buyer.

3. Price it Right. Your Boulder home may sell the first week if priced properly and if you have to drop the price the result may be lower in the long run. The longer it’s on the market, the lower the price will be in the long run.

4 . Detach Emotions. This is a business transaction. Keep emotions in check.

5. Be Involved. Hire a local Boulder agent who will communicate with you at least one time per week and gives you regular feedback. Utilize that feedback to make changes or adjustments. Talk it over with your Realtor.

6. Stage your Home. Staging is a perfect way to help buyers see the true potential of each room. Buyers have to understand the purpose of each room and staging can help clarify that. Tone down your own style and pack away any clutter or extraneous decor.

7. Don’t Hang out. During showings or an open house. Resist the urge. This will make it very uncomfortable for buyers. Leave the premises.

8. The Next Step. Get ready because here comes the offer. Renting or buying what is your best option at this point? Start early!

9. Be Flexible. It’s no secret that today’s Boulder luxury and Boulder real estate market can be challenging for many sellers. Don’t compromise on your bottom line, but understand that you must be willing to negotiate.

10. Understand your Marketing Plan. Understand what you are getting for your money. What kind of internet exposure, media coverage and global presence will you get? A marketing plan should be clean, clear and will drive the buyers to your property’s website.

11. Positivity. Don’t get discouraged. A buyer will come.

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 and along the front range.  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 is a Certified Negotiation Expert and full time Realtor at Fuller Sotheby’s International Realty in Boulder, CO.

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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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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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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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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 Real Estate Transaction…Please be Mature!

Some Boulder County home buyers and sellers need to be reminded to be grown-up during their Boulder Real Estate Transaction. I know you’re anxious. I know you’re maxed out trying to handle work, your family, your loan, the sale of your  home, your deadlines or your closing on the buy side. But you will help yourself immensely if you remember to be mature as the transaction unfolds.

Get all your paperwork in so loan conditions can be met in a timely fashion, like before the deadline. Initial and sign all the paperwork. Your Realtor will sit down with you to go over this, answer any questions and you also have the option of running it by your legal adviser. This is a business transaction not a drama. Talk everything over with your Realtor. Use your Realtor as your trusted advisor. Could there possibly be miscommunication and misunderstanding; well, yes. Think business transaction. Getting your Boulder Real Estate bought or sold is the goal. Have the intention of getting through it one step at a time. Be familiar with the scheduled deadlines and if your not clarify it with your Realtor. If something goes sideways as it sometimes does in a complex transaction trust your Realtor to talk it over and handle it in a mature manner.

Trust that your Realtor has your best interest as his primary goal.  The faster you raise an issue to your Realtor, the faster he can work to get it resolved.  Whether it’s the other party, the lender, the title company,  the appraiser, or the inspector – if you come across anything during your Boulder Real Estate transaction that makes you angry, suspicious, upset, or confused, take a deep breath and realize the best way to handle this is to be calm.  Remember this is a business transaction and you are an adult.  Stick to the facts and address the issues quickly and  in a courteous manner one at a time. Resolve and move on.  And if you have an issue with your Realtor let him know.  Tell him what you are thinking and feeling.  Speak directly to him. The ‘tonality’ of emails and texting can be grossly misconstrued so always call.

If you have questions about this article or anything Boulder give a call or TEXT me anytime. Michael Hughes. Fuller Sotheby’s International Realty. 303.359.6627 or you can visit my website or you can e-mail me.

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Fire in Boulder, Relaxed Rules for Rebuilding

Posted by Michael Hughes

Land use codes for Fourmile Fire victims who want to rebuild their homes have been relaxed by the Boulder County Commissioners. Deja Vu yesterday when another fire threatened Boulder real estate in the nearby foothills.

People whose houses burned in the blaze have up to two years to apply for permits to rebuild essentially in the same location, the same house they lost without going through the county’s painstaking site plan review process. As a person who as done an addition and built in house in Boulder I speak from experience.

The fresh rules will also allow victims to add up to 530 square feet, typically the size of a two-car garage. That’s somewhat of a random number however any additional amount that can be added is beneficial to the fire victims. They can also make minor changes to the house design and site location, using an accelerated review process that’s more meticulous than just applying for a building permit but easier than going though the entire review.

The Fourmile Fire burned more than 6,000 acres, demolishing 169 homes in its wake in the mountains west of Boulder.

The commissioners said they were sympathetic to the call to waive fees but apparently they aren’t into doing it across the board. They know they should just do it instead of wasting time in more meetings to resolve minutae. They need to be sensitive to cases of hardship and  a fire is all hardship. Of course we don’t want the taxpayers of Boulder County footing the bill for the items that otherwise might be paid for by insurance companies. These people have been devastated they don’t need to be more devastated by an numb group of county commissioners. Let them rebuild there Boulder real estate and move on. To read the full article.

If you have questions about this article or any things Boulder or Real Estate give me a call a comment a text or visit my website or Phone or text. Michael Hughes at Fuller Sotheby’s International Realty.

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