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Friday, February 5, 2010
Remodeling your home? New Lead Paint Rules and What You Need To Know Homeowners living in homes built prior to 1978 are likely
aware of the risk of Lead Based Paint. Disclosure of known information of lead-based paint and lead-based paint hazards before the sale or lease of a property
built prior to 1978 has been required since 1992.
What's new are the rules for
contractors remodeling these homes.
Beginning April 22, 2010, the Environmental Protection Agency is requiring that all contractors be lead paint certified to complete a remodel in homes built prior to
1978. According to the EPA website "Under the rule, beginning in April 2010, contractors performing
renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built
before 1978 must be certified and must follow specific work practices to prevent lead contamination."
I recently
attended the Northern Colorado Home Improvement Show in Loveland, CO and just about every builder and contractor mentioned
this change. Why? Because they claim it will drive up their cost and therefore, their client's cost. Many
were pushing me to make immediate upgrades to my own bathroom and kitchen to AVOID an increase in cost.
The EPA introduced the rules requiring the use of lead-safe practices for renovations in 2008.
http://www.epa.gov/lead/pubs/renovation.htm The new requirements are the certification, no more "opt-out" option for homeowners, and clean-up regulations
are more strict.
It would be wise for anyone doing renovations to a home built prior to 1978 to keep the
following things in mind before hiring a contractor to do the work:
1. Safety
first. If any contractor is pushing you to do upgrades prior to the rule change to cut costs, they probably
would not have been safe to begin with.
2. Verify the contractor is licensed,
bonded and insured.
3. Has the contractor received the lead paint certification?
If not, find out what their safety practices are to avoid contamination and when they are getting certified.
4. Contact references from previous work. If no references available,
move on.
5. Get at least 3 detailed bids to compare costs of different
contractors. Pay attention especially to the labor costs as that is where the fees will increase due to the
new rules.
6. If subcontractors are required for the job, will there always be at
least 1 certified lead paint contractor on site?
7. Referrals
of qualified contractors from family, friends and co-workers is a great place to start.
Tuesday, February 2, 2010
Improvisation is the
practice of acting, singing, talking and reacting, of making and creating, in the moment and in response to the stimulus of
one's immediate environment and inner feelings (Wikipedia)
 Remember those old typewriters that would "bing" at you to let you know you were at the end of the line? In a way, typing
was a form of exercise - putting the paper in just so, making sure you have enough ink ribbon, pushing the keys down
far enough without getting your fingers stuck, being able to type the letters fast enough so you don't forget what you want
to say...."bing", push, cliiiiiiick, stop. I can still hear it. There were no distractions then - it
was a rhythm, an art.
When I sit in front of my computer now thinking of something wonderful and brilliant to say
about the housing market, I see five windows open on my browser with things left undone. So, I'm gonna go close those
windows and get back to the work at hand...stream of consciousness - whatever comes to my mind and heart relayed
through my fingers onto this magical thing called Blog. Ok, logged out of Facebook and Twitter, closed Google, Word
and Quickbooks. I'm in (wonderful and brilliant? not so sure).
I used to type a daily diary when I was younger on that old typewriter and I loved every minute. I am a fast
typer because I took piano lessons for most of my young life so it came naturally for me. Music and writing have always
been the best ways for me to express myself (my family knew what kind of mood I was in by the songs I played on the piano
- bless them for not throwing me out on the street...there were no headphones on a grand piano) Anyway, I digress.
Housing Market/Real Estate - yes, that is the subject. I'm focused now.
 Here's the thing...we've just entered a new decade and it's time to
shake things up. Add some Jane's Krazy Mixed-Up Salt (my fav) and make buying and selling a home fun again.
It's why I began a career in real estate 20 years ago - the people, the laughter, the fun. Yes, it's hard work too,
but doesn't anything worth living for take faith, trust, patience and dedication?! And, it's never too late to be happy,
move to a new neighborhood, make new friends, or start a new career.
Jane Semans, founder of Jane's Krazy Mixed-Up Seasonings, started her business at the age
of 60. "I don't feel anyone should actually retire,
but should keep busy meeting people. When you start a business at sixty like I did, you realize that age is not important.
It's the enthusiasm."  Enthusiasm! Taking that leap of faith and saying "I
can do this, no matter what." The resources and support are out there if we choose to seek and find them.
No more bland. Spice
things up.
"Bing",
push, cliiiiiiick, stop. We're at the end of the line - jump or fly.
Tuesday, January 19, 2010
Big News in Housing - HUD announces temporary waiver on Anti-Flipping Rule to simulate economy
As of February 1, 2010, buyers with FHA-backed loans will be able to
purchase homes owned for less than 90 days. This past Friday, January
15, 2010 HUD announced a temporary policy to allow for the quick resale of foreclosed property - with strict guidelines in place to prevent predatory "flipping"
where buyers are purchasing homes with over-inflated pricing. Most first-time buyers are using FHA insured financing because the down payment requirements are less than conventional financing. Increasing the amount of affordable
housing available for first-time buyers to purchase (along with the extension of the tax credit) will provide an opportunity to stimulate the economy by improving the value of homes in neighborhoods with high
vacancy and those most affected by the foreclosure crisis.
For more information on the Federal Housing Administration,
follow this link http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration
The goal of the temporary waiver is also to lure investors back into the market to purchase property with the intention of fixing them, and then selling them
(flipping). The guidelines included with this waiver are as follows:
* All
transactions must be at "arms length". In other words, the transaction must have no identity of interest between
the parties.
* Seller's profits are limited to 20% above the purchase cost. Specific conditions
must be met for profits above 20% to be accepted.
* The waiver is limited to forward mortgages
(mortgage where equity rises and debt falls), and does not appy to the Home Equity Conversion Mortgage (HECM) for purchase program.
The announcement is great news for investors, buyers, sellers,
neighbors and even lenders. We strongly encourage anyone buying or selling to hire competent Real
Estate and Mortgage professionals to assist with negotiation, presenting offers, market analysis, FHA guidelines, inspections,
etc. to look out for your best interest.
Friday, January 8, 2010
Northern Colorado Real Estate and Housing Market Trends 2010
Extra! Extra! Read all about it! The Northern Colorado Housing Market is on track for an outstanding 2010.
Take Me Home Real Estate, LLC has compiled real estate market research and found positive statistics to share. In comparing housing
sales for 2008 and 2009 (Residential, Attached Dwellings, Vacant Land, Farm and Ranch) in Northern Colorado, here is
what we found:
1. Housing sales and values rose 16% in the
fourth quarter of 2009 from the previous year.
2. Foreclosure sales decreased
a total of 28.38% from 2008 to 2009, from 3034 to 2173 sold while short pay sales increased substantially.
3. Although the total number of sales decreased by 9.59% and values decreased by 15.34% from 2008 to 2009, it
is an improvement from the 2007/2008 comparison of 13.11% and 17.56%.
4. Putting things into
perspective - the increase in property values from 2000-2005 was 45.24%.
Five years and almost 2 billion dollars more. The decrease in values from 2005-2009
was 36.83% and 2 billion dollars less.
(Source: IRES, LLC Information deemed reliable but
not guaranteed)
Take Me Home Real Estate, LLC's predictions for 2010:
* Rising interest rates - pay attention to mortgage rates and contact lender to request a good faith estimate for monthly costs.
* First-Time Home Buyer Tax Credit - expires April 30, 2010. We will see an increase in condo, townhome and affordable single family home sales during
the first quarter.
* Move-Up/Repeat Home Buyer Tax Credit - expires April 30, 2010. Listing inventory will increase during the first quarter as sellers/repeat
home buyers take advantage of the $6500 tax credit.
* An increase in rental housing demand - those
losing their homes to foreclosure will continue to need temporary housing.
* Affordable housing between $80k and $200k selling quickly. Values should remain stable
throughout the year with a slight increase towards the latter part of 2010.
* Luxury home market sales, especially
short sales, will be strong. Homes that have been on the market over 1 year with significant price reductions will begin
to move as well.
* An increase in overall Short Sales as the New Guidelines and incentives take effect.
* Increasing demand for Senior Housing, Assisted Living and Retirement Communities near
medical facilities.
* Investors taking advantage of the down market between January and July by bidding
on undervalued COMMERCIAL and RESIDENTIAL property.
Thursday, December 31, 2009
New Luxury Rental Available in Northwest Greeley, CO
Take Me Home Real Estate, LLC is featuring this beautifully upgraded, luxury home For Rent. The location of Northwest Greeley in Poudre River Ranch is ideal –
walking distance to the Poudre River Trail, breathtaking mountain views, Windsor Schools. This home features granite
counter tops, wood floors, vaulted ceilings, living room fireplace, luxury 5 piece master bath and so much more. Rent
includes lawn maintenance, trash and snow removal. Contact Take Me Home Real Estate, LLC for more details at 970-378-2615 or visit the following link http://www.coloproperty.com/Rentals/index.cfm?&Action=DetailReport&Rental_ID=6006
Wednesday, November 18, 2009
Mortgage professionals predict interest rates will increase slightly over the next 90 days| The
Mortgage Rate Trend Survey summarizes where mortgage professionals think mortgage rates are headed in the future. To conduct
this survey, Mortgage-X asks more than 250 experts in the mortgage field about their expectations for the mortgage market. | | Over the next 30 days: | Over the next 90 days: | | rates will rise significantly: 3.4% | rates will rise significantly: 13.8% | | rates will rise slightly: 13.8% |  rates will rise slightly: 41.4% |  rates will remain unchanged: 51.7% | rates will remain unchanged: 24.1% | | rates will decline slightly: 31.0% | rates will decline slightly: 20.7% | | rates will decline significantly: 0.0% | rates will decline significantly: 0.0% |
| Currently, about 52% of the participating mortgage professionals believe mortgage
rates will remain unchanged over the next 30 days and 41% believe mortgage rates will rise slightly over the next 90 days.
|
Note:
Mortgage-X is not responsible for decisions based on the Mortgage Rate Trend Survey. The reported Survey results
are for informational purposes only.
Tuesday, November 17, 2009
Homebuyers and Sellers - It's time to get off the fence.
Tue, November 17, 2009 | link
Wednesday, November 4, 2009
Expanded Recovery Act Tax Credits Help Homeowners Winterize their Homes, Save Energy
The IRS announced The American Recovery and Reinvestment Act has expanded two home energy tax credits (the
nonbusiness energy property credit and the residential energy efficient property credit). "People can
now weatherize their homes and be rewarded for their efforts. According to the Internal Revenue Service, homeowners making
energy-saving improvements this fall can cut their winter heating bills and lower their 2009 tax bill as well."
(http://www.irs.gov/)
For eligible energy improvements , homeowners can earn a tax credit at 30% of the cost, up to $1500.00 for the combined years 2009 and 2010. Improvements
included in the nonbusiness energy property credit include windows, doors, insulation, roofing, HVAC, water heaters
and biomass stoves.
Homeowners (existing homes and new construction) who are investing in alternative
energy equipment can earn a second credit equaling 30% of the cost, with no upper limit through 2016.
This credit is available for improvements including geothermal heat pumps, solar panels, solar water heaters, wind turbines,
and fuel cells.
*Tax credits available for home improvements: - must be "placed in service" from January 1, 2009 through December 31, 2010
- must be for taxpayer's principal residence, EXCEPT for geothermal
heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes qualify)
- $1,500 is
the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements,
EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not
subject to this cap, and are in effect through 2016
- must have a Manufacturer Certification Statement to qualify
- for record keeping, save your receipts and the Manufacturer Certification Statement
- improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695
(2009 version) — it will be available late 2009 or early 2010
- If you are building a new home, you can qualify
for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind energy systems and fuel cells,
but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters.
*http://www.energystar.gov/index.cfm?c=tax_credits.tx_index#c1
Monday, October 26, 2009
Colorado set to be a strong leader in renewable energy  Solar panels, wind turbines, environmentally-friendly buildings, safe food, clean energy, water,
and air...all necessary elements in providing a livable earth for ourselves, our children and grandchildren.
We are at a crossroads where home, health, community, sustainable living, and peace meet. A place of choice to
live in the positive, learn new skills to provide for our family, and believe that anything is possible.
These truly are exciting times because we have the opportunity to literally change the world we live
in. Anything is possible.
By this time, you may be wondering
how it can be said these are exciting times when people are suffering every day with health and economic issues with seemingly
no way out. Maybe this is our test. Maybe this is the crossroads we have been waiting for and now we can choose
the right path.
Green energy is not new, but it is gaining momentum, especially in Colorado!
Just today, Fortune magazine placed Colorado (Denver, Boulder, Greeley) in the top 15 Best Places for Green Jobs. In their words, "Clean tech' employment is poised to soar - and the jobs will be all over the
country." To view the entire article, click the following link:
http://tinyurl.com/yjpk7za
Mayor Hickenlooper and Governor Ritter just announced today that a new renewable energy company
has chosen Colorado for it's facility. The company, SMA Solar Technology will create 300 new jobs in the Colorado area in 2010. SMA will be joining the long list of renewable energy companies
in Colorado http://tinyurl.com/yfkwwjd
These are exciting times if we choose to see it that way. Maybe today, we go out and learn a new skill.
Maybe the path we chose in the past has met at the crossroads and we can take "the road less traveled." And
that road will lead us to a better future. Anything is possible...
Monday, October 19, 2009
NEW LISTING! Beautiful home in Eaton, Colorado Take Me Home Real Estate, LLC just listed
a wonderful home in Northern Colorado for only $195,000. First-time buyers can still take advantage of the $8000.00
tax credit, however it is important to act quickly because qualified buyers must purchase a new home by December 1, 2009.
Follow this link to learn how you can take advantage of the tax credit http://tinyurl.com/ckywn4 This home in Eaton, Colorado is ideal with 3 bedroom, 2 baths and features a living room fireplace, vaulted ceilings, wood floors in the kitchen and dining
room, beautiful cherry cabinets in the kitchen, 3 car garage and an unfinished basement with room to grow. For more
information, contact Take Me Home Real Estate, LLC and follow this link http://tinyurl.com/tmh-features-eaton
Thursday, October 8, 2009
Northern Colorado Real Estate and Foreclosure Watch The Northern Colorado real estate market has seen noticeable changes during the current recession and market adjustment.
There is no denying that buyers are hesitant or unable to purchase a home and sellers are weary and frustrated. Take
Me Home Real Estate, LLC works with both buyers and sellers and believe me, there has been a quantum shift in the
way people buy and sell homes or secure a loan (not only with the logistics, but the mental process as well). With
the consistent negativity in the media regarding the housing market, it's difficult to focus on the possibility that there
may be some GOOD news to be found. It seems the ones who enthusiastically push the positive look quite silly because
the reality is that people are struggling and that is no laughing matter.
As Broker/Owner of
Take Me Home Real Estate, LLC, it is my goal to present current information and facts about the housing market.
How it is interpreted is in the hands of the reader.
So, I begin with a quiz.
These questions are based on the following criteria: Areas included - Greeley/Weld County, Fort Collins, Loveland/Berthoud Time frame - 1st-3rd Quarter comparison 2008 vs. 2009 Property types - Residential, Attached, Income, Vacant land,
Farm/Ranch Source of information
- IRES, LLC (Northern Colorado MLS)
Question 1: Has the total number of properties sold increased or decreased
over the past year? Question
2: Has the number of foreclosures sold increased or decreased? Question 3: What percentage
of properties sold have been foreclosures and have they increased or decreased?
Question 4: Have the values of sold properties during
the 3rd Quarter increased or decreased from 2008 to 2009?
Answer to Questions 1 and 2: The number
of properties sold AND foreclosures sold has decreased in all areas. Here's how it
breaks down:
| | Greeley/Weld | Fort Collins | Loveland/Berthoud | | Total Sold 2008 | 2979 | 2783 | 1360 | | Total Sold 2009 | 2697 | 2366 | 1163 | | DIFFERENCE | -282 | -417 | -197 |
| | Greeley/Weld | Fort Collins | Loveland/Berthoud | | Foreclosures Sold 08 | 1149 | 308 | 323 | | Foreclosures Sold 09 | 898 | 228 | 206 | | DIFFERENCE | -251 | -80 | -117 |
Answers to Questions 3 and 4:
Percentage
of Foreclosures Sold 2008/2009
Home values in Greeley/Weld and Fort Collins have decreased in value by approximately 2% and Loveland area values have
decreased approximately 5% from the same time last year.
Why are these numbers important?
Because whether you are a Buyer or a Seller, knowledge of the real estate values and trends in the community you live or aspire
to live puts the power of decision in your hands. Buyers actively seeking a home can be thankful that the interest rates
are currently below 5% and because the property values are decreasing, the likelihood of finding a home at an incredible value
(foreclosure or not) is very high. Sellers can be wise to price their home to compete with the changing market
and know that a decreasing number of foreclosures in some areas is a good sign.
Thursday, September 24, 2009
Catching my breath to just say hello! Keeping up with the real estate market can be exhausting. I am
naturally a gatherer, especially of information pertinent to assisting my clients with their real estate decisions.
Social media (including Twitter, Facebook,LinkedIn, Active Rain, etc.) is a gift in many ways because the information is readily available and there are so many different perspectives
to consider. It's incredible we have so many options to express our opinions and expertise on just about any subject.
I am, however, tired. Too many hats! Information overload.
I just needed to take a break for a moment
to say "Hey, how are you doing?" , "How's life?" Taking a deep breath to slow down for while
- to relax and be thankful that I am, in fact, taking a breath. To be thankful for my family, friends, clients and business
associates that share their lives with me. Thankful for my health and for having a safe, comfortable home to create
the memories that will last forever.
Real Estate means nothing to me unless it incorporates the word "home".
Home, after all, is where we can be ourselves to laugh, cry and learn to love. It's why I got into this business in
the first place - to help people find their place to be themselves. I could be the most brilliant Realtor around the
globe and an expert at everything, but it wouldn't matter if I didn't LISTEN to my clients and learn from them.
So, my
rambling ends for me to say "Hello. How are you?"
Monday, September 21, 2009
Updated Mortgage Rate Trend SurveyMortgage Rate Trend
Survey
Monday, Sep 21, 2009 | The Mortgage Rate Trend Survey summarizes where mortgage professionals
think mortgage rates are headed in the future. To conduct this survey, Mortgage-X asks more than 250 experts in the mortgage
field about their expectations for the mortgage market. | | Over the next
30 days: | Over the next 90 days: | | rates will rise significantly: 0.0% | rates
will rise significantly: 0.0% | | rates will rise slightly: 27.6% | rates will rise slightly: 41.4% | | rates will remain unchanged: 37.9% | rates
will remain unchanged: 34.5% | | rates will decline slightly:
34.5% | rates will decline slightly: 20.7% | | rates will decline significantly: 0.0% | rates will decline
significantly: 3.4% |
| | Currently, about 38% of the participating mortgage
professionals believe mortgage rates will remain unchanged over the next 30 days and 41% believe mortgage rates will rise
slightly over the next 90 days. |
Note: Mortgage-X is
not responsible for decisions based on the Mortgage Rate Trend Survey. The reported Survey results are for informational purposes
only
Saturday, August 22, 2009
$8000.00 First-Time Buyer Tax Credit expires in 3 months
With mortgage interest rates at a record low and the median home sales price at $178,400, buyers are
rushing into the market to take advantage of the first-time buyer tax credit available to those who qualify. According
to CBS News, "home resales posted the largest monthly increase in at least 10 years last month as first-time buyers rushed to take
advantage of a tax credit that expires this fall...It was the fourth-straight monthly increase and the highest level of sales
since August 2007"
In Larimer and Weld counties, over 1300 homes under $200,000 have a contract pending
or have sold in the past three months. Of those, 306 are lender/owner REO, 79 are HUD properties, 139 are short sales
and the balance of 776 homes are regular sales. Multiple offers on homes in this price range are not uncommon so time
is of the essence.
To see if you qualify for the First-Time Buyer Tax Credit,
click the following links:
http://tinyurl.com/ckywn4
http://tinyurl.com/cuqkzy
To search for a home in Colorado, click the following link:
Search for a home
Thursday, August 20, 2009
Just for fun - ever worked with a pushy Realtor? Remember, your opinion matters!
Thu, August 20, 2009 | link
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