Tag Archives: home for sale boulder

Buyers Beat Boulder Burbs For Deals

Posted by Michael Hughes  April 22, 2010

There has been an unprecedented number of first-time homebuyers in March and April with many buyers putting homes/condos under contract ahead of the approaching extended tax credit expiration (April 30th). This provided a stellar sales boost the second time around even here as buyers were out to buy a home in Boulder. As sales to first-time buyers neared the 50% mark. Short sales should surge with April’s launch of HAFA (Home Affordable Foreclosures Alternative). This is a program that (allegedly) allows banks, investors and mortgagers the ability to secure short sales quicker.  To get more information about HAFA.

If you have questions regarding this article, need help with a short sale  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. Featured Listings

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Home for sale Boulder;HAFA Starts April 5, 2010 (Short sale vs. Foreclosure)

Posted by Michael Hughes  February 19, 2010

Please leave a comment and link to my blog.

If you have a home for sale in Boulder, a short sale as it were the lender agrees to take less than the full amount the homeowner owes on the mortgage. The transaction is saying that the value of the house is lower than the amount due, sometimes significantly so.

These deals appeal to homeowners, not so much (yet) for banks. The homeowners’ credit score and ability to borrow will be damaged, but not as much as if the house goes into foreclosure.  And the IRS is not that forgiving on what is considered unearned income or deficiency judgement (the difference between what you owe and the distance between that and what is accepted by the bank). HAFA may remedy that.

The easiest short sale is one where there is only one lender. Easy being the operative but relative word. Short sales to this point have not been easy nor fast. When there are two or more lenders it is almost impossible to get them to come to agreement on which parties will receive how much.

If the banks would just enlighten up and start accepting these offers the log jam of short sales and foreclosures would soon be behind us. Short sales are definitely less costly than a full blown foreclosure and they are quicker.

Foreclosures still outnumber short sales but (short sales) are the only way we can get these inventories lower and to what the new “normal” as far as supply and demand (absorption) will be when the dust settles. The shell shocked confidence of Americans is playing into this big time.

The Treasury’s HAFA program will probably increase short sale activity significantly. Under HAFA, the lender settles on an approved price in advance. A lender must provide “Either a list price approved by the servicer or the acceptable sale proceeds, expressed as a net amount after subtracting allowable costs that the servicer will accept from the transaction.” This will help speed up the transaction and minimize short sale fraud.

Under HAFA, the servicer must “allow a portion of gross sale proceeds to be paid to subordinate lien holders in exchange for release and full satisfaction of their liens.” That helps with the 2nd lien problem and is great for the homeowner because there will be no deficiency judgment (also, upon closing, the first mortgage holder has to agree to release the borrower “from all liability for repayment of the first mortgage debt”). This is much better than “walking away”! Take action before it is too late and you are going in to foreclosure.  Call me today. You can avoid foreclosure. It is a matter of take the band aid off quick or remove it hair by hair. Which would you prefer?

HAFA starts on April 5, 2010 and is limited to homeowners with an unpaid principal balance less than or equal to $729,750.

If you NEED HELP WITH A SHORT SALE or have questions regarding this article or Boulder Real Estate please call me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO

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Homes For Sale Boulder-Home for Sale Boulder

By Michael Hughes   February 10, 2010

Boulder, Colorado is the 11th largest amongst the cities in Colorado.  The University of Colorado at Boulder is the largest University in the state.  Naropa University also campuses in the city. Boulder is located about 25 miles from Denver and lies on the east side of the foothills and right at the base of the Rocky Mountains. People who wish to be near  wilderness, skiing, running, cycling, blading, climbing, snow shoeing, well educated people and fitness buffs, love to buy homes in Boulder, Colorado

Boulder is set right up against the flatirons and the foothills. The proximity of the town is one of easy access to Denver International Airport while having numerous amenities. Small town charm with big town advantages. There is a slight shortage of homes for sale in Boulder as of November 2011. Hiking in the area is abundant: Bear Mountain, Mount Sanitas, Chautauqua Park, Enchanted Mesa Trail, Wonderland Lake and of course the Boulder Creek Path.

If you’re thinking of buying a home in Boulder as a rental or a second home this is an excellent choice.  Boulder boasts a steady flow of tourists who may prefer renting a home in boulder in lieu of staying in a hotel. As of the 1st Quarter 2012 listings are very tight. There is no better time to list your property than right now. Lowest interest rates in history. Limited for sale inventory and a Sotheby’s International Realty Marketing Plan = Less time on the market for your home, a quicker sale for more money, often with multiple offers. Call me today, let’s see if were a fit. Also often I have homes that are not on the market that are for sale just not on the market. Call me today for these listings 303-359-6627-Michael.

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The most popular neighborhoods in the city include North Boulder and Holiday, Newlands, Mapleton Hill, Silver Maple, Whittier, University Hill, and many more. Of these, Newlands is the most popular neighborhood in town. Call me today I can help you find the home of your dreams. About Me.

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.

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