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

Boulder Real Estate On Fire

Figuratively, not literally. In Boulder we have so many great areas to choose from where fire is not a danger. We are buffered by the Flatirons to the west and many of our mountain areas such as Pine Brook Hills have fire hydrants frequently along the road. Call me today if you’re looking for a home in the Boulder area. I have many “quiet” listings of people who are interested in selling however for one reason or another don’t want to be full out on the market.

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

Reduce Your Boulder Real Estate Taxes

Owners of Boulder real estate, especially those with Boulder luxury real estate, know how expensive property taxes can be. While the housing market may have softened considerably, many homeowners are discovering that they are still being assessed property taxes that reflect housing values at the time of peak real estate prices in 2005 and 2006.

Assessments are only done every three to four years and this can result in homeowners paying much higher taxes than they should. Real estate assessment is also more of an art than a science and the correct assessment depends in large part on the assessor being knowledgeable and having a good handle on the local real estate market. Certain parts of the country are more expensive to live in than others and Boulder, Colorado is a prime example of this.

The pristine air and tranquil nature, as well as the elevation, attract many people who are interested in purchasing Boulder real estate. The area is a paradise for sports enthusiasts and those that love nature. Prices of Boulder luxury real estate are high because this is such an exclusive part of the country to live in.

The city regularly ranks among the top cities in the United States to live in terms of health, education, art, quality of life and well being. Unfortunately, the privilege of living in Boulder also carries high property valuations, which means high property tax bills. Property taxes have risen across the country. The National Taxpayers Union, which is a non-profit advocacy group, has an expectation that property tax bills will increase by at least 5 percent this year. Every year, the average property tax of homes has gone up by about 7-8 percent, since 2001.

Things homeowners can do to reduce property taxes:

This increase has left a lot of property owners frustrated and wondering what they can do to reduce the cost of their property tax bills. Short of letting their home go completely to ruin and thereby decreasing the value of their property, many people are wondering what they can legitimately do to save money. Across the country homeowners have filed property tax appeals in record numbers this year. Appeals can be lodged at any time, but to affect tax bills this year the appeals have to be filed by a specific date.

To have a convincing case it is a good idea to start with the fact that the assessment given to the home no longer reflects market value. Months or years can elapse between property assessments, so discrepancies are bound to show up. It is possible to have a successful appeal if it can be proven, with documentation to back up the appeal, that the assessment is unfair and no longer valid.

There are a few other things that people who own Boulder real estate or Boulder luxury real estate can do to lower property valuations. The easiest thing to do is to find evidence that the local assessor made an error when evaluating the property.

Many communities rely completely on drive-by evaluations, so it is not far-fetched to assume mistakes could have been made. The assessor estimates the value according to the features that other homes in the area possess. It is possible that the assessor made an assumption that the home contains a certain number of bedrooms or bathrooms, or a fully finished basement, when this is not the case at all. Homeowners may also have success with their case if they can show that the property they own, such as condo units or luxury real estate, has not kept up with the pace of the local market.

Homeowners should compare their home assessment with other similar properties in the area. If there are at least five properties that carry lower valuations, the odds of successfully filing a property tax appeal are increased. It may also be a good idea to hire a private appraiser to properly value the property. There may be mitigating circumstances such as a damaged roof or leaking basement that a drive-by inspection could not possibly reveal.

It is also possible to hire professionals to file the property tax appeal, although they will charge money for it and this can cut into property tax savings. Anyone unhappy with their property tax bill should file an appeal as soon as possible because local governments limit refunds to the prior year`s tax bill. Anyone interested in financial products may wish to visit   http://www.simplyfinance.co.uk/calculators/mortgage-cost-calculator.html Simply Finance for more information.

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 or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes

Why the house isn’t selling

Yes there are a few properties still sitting on the Boulder real estate market. Clearly there is something not quite right here.

I have sold luxury homes in Boulder for some time now and I often get calls from upset sellers who are having a tough time selling their property. I get their frustration. Most people start off the conversation with the same question, which is, “Why haven’t we even had an offer on our home?” I have talked about this a lot in my blogs however I think it is worth repeating. It boils down to a few reasons why your house didn’t sell.

• Did you price it right? All a realtor can do is present the data. It’s your home, and you make the decision on how quickly you want to sell the home. If you ignore good data and price it high, the home will sit, sit, and sit. When you decide to price it right, the home will sell, but the decision is entirely up to you. I provide (data) you decide (the price). I then decide whether or not we are a good fit. I list Boulder real estate to sell not sit.

• Does your home show well? If it does show well and it is in excellent condition we can move on. I always hire a stager for my sellers, it helps give them an objective eye for the property.

• Do you have great marketing? Great marketing is multi-pronged with print, internet and creative modes of delivering the property to the market for massive exposure, not only locally but globally. Sotheby’s International Realty is the only true global brand in Boulder.

•  It’s the first and most important rule of real estate. Location, location, location. If you have a bad location or a challenging location, you may have a difficult time selling your home. The only thing that you can do to fight a rough location is to price the home well below market value. You have to make the price so appealing that a buyer would ignore the setting because the price is so good.

You want to get it right straight out of the gate so all of the above must be in place to super saturate the market with your property. It must be everywhere so that the guy in California who is up at 2am and is nervous about where he and his family are going to live, sees it over and over and over on site after site.

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 or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes

Time to Sell

It’s spring and homes show better in the spring than at any other time of year. Seasons are becoming less of an issue. January, February and March were some of my best months thus far since 1998.

Buyers for Boulder real estate are psyched to buy now. Buyers have taken to stealthing out sellers in neighborhoods, where nothing is for sale and at parties, ears perk at the merest hint of anyone thinking of selling.

Negative economic news continued to play a big part in the sluggish home sales during most of last year. People have pent up demand. The stock market has come back and buyers are feeling flush.

Bad economic news and massive uncertainty lowers consumer confidence. With all the negative economic news it tailspins buyers in to feeling little to no confidence. That is over in Boulder where buyers are abundant and houses for sale are few, driving prices up and bringing multiple offers on homes properly priced.

With consumer confidence on the upswing; interest rates historically low and unemployment decreasing; we have the perfect storm for Sellers. High-demand, low-inventory market gives sellers an edge.

These positive indicators combined with a drop in homes for sale at the end of 2011 and a decrease in unemployment may provide huge opportunities for sellers in 2012, provided their homes are priced right for the market.

Any major surprise on the economic front could change the picture, but regardless of the economic indicators, the best time to sell is when the time is right for you, the Seller.

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 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

Jobs Equal Healthy Boulder Real Estate

Boulder County is the most educated county in United States. There’s a high percentage of highly intelligent residents, which is its greatest asset for attracting and retaining strong employers and employees. Boulder real estate is healthy, a sure sign of good times coming. It’s all about jobs. Strong jobs equal strong Boulder real estate.

Numerous high tech businesses in the Boulder Valley Corridor are starting to hire. When I asked a local head hunter if there were going to be a lot of out of town people coming in she said “there seems to be a robust amount of talent available in the area right now.” Of course as time goes by the tech area will need more and more talent to feed the demand.

Many high schools in Boulder County offer special programs such as Skyline High School in Longmont that offers the Scientific Technology Engineering and Mathematics (STEM) program, a magnet component that prepares students to excel in science and math related fields. Also with the onset of the International Baccalaureate Program in numerous schools in the Boulder Valley; Boulder schools could help “grow” their own work force and provide opportunities for our children’s future by implementing similar programs in all schools.

Boulder offers a quality of life that attracts and keeps people here. It’s a life that can’t be beat. We love our Boulder real estate and we often come up on lists for a very high quality of life. A lifestyle robust in fitness, with running trails right out our office door,  world class organic food, home grown brews, entertainment, high intelligence, happy people, entrepreneur heaven, skiing and snowshoeing nearby, dog friendly areas and many opportunities to enhance our lifestyle.

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 (CNE) 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 proven 16 year track record of selling unique Denver and Boulder luxury real estate.

Castle for a Curmudgeon?

Clyfford Still by some was thought to be somewhat of a curmudgeon. This November, four rare works by Clyfford Still come to Auction at Sothebys in support of the long awaited museum in Denver devoted to the elusive master of abstract expressionism. The challenge is that the museum will be devoted to one artist.

With an agreement with Denver and Still’s widow, Patricia. The Still will be opened. Still who died in 1980 at the age of 75, had bequeathed his collection to an American city that would keep it intact and display it in isolation from the work of other artists. Denver competed with 19 other cities to acquire the collection. Sothebys Auction  on 9 November will be selling 4 masterworks  by Still to further support the museum’s endowment. The primary mission is to move this artist’s reputation back into the top echelon.

Clyfford Still was an early and  groundbreaking Abstract Expressionist who found much in common with like-thinking peers in Mark Rothko, Jackson Pollock and others connected with the New York School.

Still reserved 94 percent of his oeuvre for himself making the works some of the most intact in history.

The new director of the museum Dean Sobel formerly of the Aspen Art Museum, which operates on a European Kunsthalle model and thus does not have a permanent collection. We hope this single artist museum in Denver lives up to the likes of the Van Gogh in Amsterdam, the Zentrum Paul Klee in Bern and the Warhol.

Opening week of the Clyfford Still Museum in Denver will be Mid-November 2011.

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 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.

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.

Bullet Proof Real Estate

Boulder Real Estate on Left

Forbes Magazine says. As the economy seems to unravel around us these cities are bucking the trend as the top 25 Recession-Proof Cities. Bullet proof as it were. These are the 25 metro areas in the U.S.  leading the bull market in real estate. Also Q2 stats are out about the Boulder area in the governmental websites that I track which substantiates what Forbes is saying. The bottom (in Boulder at least) is over, done, finished, adios. What does this mean? It means we will continue to see more and more multiple offers, higher prices and competitive bidding for Boulder real estate and Boulder luxury real estate.  The statistics for the increase in home prices for this story come from Zillow. While I vehemently dislike Zillow as a tool to figure out what your home is worth (they are extremely inaccurate 98% of the time-up or down) they do a good job of tracking price changes in the market. For this list, Zillow poured through home and real estate price data for 499 metro areas, reviewing values for homes both on and off the market using list prices, final sale prices, tax records, and property histories. Three markets in our great state of Colorado made it on to the Forbes 25 Recession Proof list; Boulder, Fort Collins and Pueblo. According to Zillow; Boulder real estate Second Quarter 2011 Price Increase: 1.6% First Quarter 2011 Price Increase: 0.5% Price Plunge Since Peak: 6.7% decline. According to the government website Second Quarter increase: .12% at least Zillow is going in the right direction.   Read the entire story in Forbes.

Michael 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.