Boulder County Realty Real Estate BlogRecently posted or modified blog postshttps://www.advancedhomegroup.com/blog/Copyright AdvancedHomeGroup.com2020-12-03T20:19:28-07:00tag:advancedhomegroup.com,2012-09-20:83692021 Conforming Loan Limits Boulder County and Beyond<img src="https://assets.site-static.com/userfiles/1323/image/2021_Conforming_Loan_Limits450x378.png" width="450" height="378" alt="2021 Boulder County Conforming Loan Limits" title="2021 Boulder County Conforming Loan Limits" style="float: right;" class="img_box_right" />The Federal Housing Finance Agency (FHFA) announced on November 24, 2020, that the nation-wide maximum conforming loan limits for 2021 will increase to $548,250 compared to the 2020 limit of $510,400. The loan limit was increased as a direct reflection of the 7.42% increase calculated by the FHFA in their seasonally adjusted housing price index.
In our area specifically, a higher conforming loan limit was established because Boulder County satisfied the regulatory criteria which states that if "115% of the median home value exceeds the nation-wide conforming loan limit" then the limit shall be increased. Accordingly, in these higher-cost areas like Boulder County, the 2021 conforming loan limit is $654,350. See a full summary below.
‘Conforming loans’ refer to loans with origination balances below a specific amount as defined by law. These loans are then eligible for purchase by the two government-sponsored mortgage loan companies, Fannie Mae and Freddie Mac, to maintain liquidity, stability, and affordability in the mortgage market. Loan amounts above the defined limits (set for each county across the nation) are referred to as jumbo loans. Often times, interest rates for loan amounts that are on the cusp of this division fluctuate and an increase in the conforming loan limit may or may not translate to more attractive interest rates.
Conforming loans and Conventional loans are typically used interchangeably by Realtors®, but there are some differences. "Conforming" relates to whether or not the amount of the loan adheres to the limits used by Fannie Mae and Freddie Mac (these corporations purchase mortgage loans). A Conventional loan is not insured by the government but it does adhere to the conforming loan limits so that it can be sold to Fannie and Freddie.
The New Conforming Loan Limits Begin January 1, 2021
2021 Conforming Loan Limits for Boulder and Beyond (<a href="https://www.fhfa.gov/DataTools/Tools/Pages/Conforming-Loan-Limits-Map.aspx" target="_blank">click for map</a>)
2021 Boulder County Conventional Loan Limit: $654,350<br /><br />2021 Broomfield County Conventional Loan Limit: $596,850<br /><br />
Denver, Broomfield, Arapahoe, Douglas, Adams: $596,850<br /><br />
Larimer County and Weld County: $548,250<br /><br />
<a href="https://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2021_HERA-BASED_FINAL_FLAT.xlsx" target="_blank">Click here</a> to access a spreadsheet of the full list of 2021 maximum loan limits for all counties across the US.
2020-12-03T17:56:00-07:002020-12-03T20:19:28-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:7363Consumer Reports- List of Recommended DishwashersIf you're shopping for a new dishwasher, you're likely wondering "What's the best dishwasher?" And if you type that into google, get ready to be overwhelmed.
We have a subscription to Consumer Reports so we thought we'd share the most recent list of recommended dishwashers. If you're seeking other appliances as well, feel free to reach out and we'll be happy to share the recommendations for those as well.
<a href="https://assets.site-static.com/userfiles/1323/file/Consumer_Reports_Dishwashers_Recommendations.pdf" target="_blank">Click here to access the pdf of recommended dishwashers.</a>
2020-08-18T13:18:00-07:002020-08-18T14:48:26-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:5394Somerset Meadows- Time is Running Out
Time is of the essence to scoop up one of only a few remaining new construction homes in Somerset Meadows, a new neighborhood in Longmont, Colorado.
In this quick tour, Kirk walks you through the Adler floor plan and is referencing lot 38, which will also be the Adler, however, it will be a flipped (mirror version of it).
These homes are built by Lennar. For a number of reasons, you simply won't find new 6,000+ square foot homes with a 3 car garage and lots over a quarter acre- for under $1M in Boulder County, ever again!
Text/call Kirk at 720-649-6300 to learn more.<br />2020-01-28T18:52:00-07:002020-08-18T13:14:58-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:48442020 Real Estate Market Conditions<img src="https://assets.site-static.com/userfiles/1323/image/money-house-clock.jpg" width="250" height="144" alt="2020 Real Estate Predictions" class="img_box_right" />What will the 2020 real estate housing market look like? Will it be a buyer's market, seller's market, or a balanced market? What will happen to interest rates? Will we be in a recession by the end of the year? It's not possible to know for sure, but we have collected some predictions from various sources.
<a href="http://www.freddiemac.com/research/forecast/20191220_optimism_heading_into_2020.page" target="_blank">Freddie Mac</a> is predicting that mortgage rates will remain low, hovering around 3.8%. Many homeowners refinanced in 2019 as a result of interest rates dipping below 4%. Nationwide, there were approximately six million homes sold in 2019, with slight increases expected through 2021. Home values aren't likely to drop, but the appreciation rate is expected to slow with current annual growth finishing 2019 around 3.2% and dropping slightly to 2.9% in 2020 and 2.1% in 2021.
<a href="https://www.redfin.com/blog/2020-housing-market-predictions/" target="_blank">Redfin's latest forecast</a> expects the first half of 2020 to see an increase in homes that receive competing offers due to low interest rates and less inventory. This will bring appreciation, which will help to lure other sellers to the market and help the market inventory levels balance out towards the end of the year.
<a href="http://zillow.mediaroom.com/2018-05-22-Experts-Predict-Next-Recession-Will-Begin-in-2020" target="_blank">Zillow</a>, on the other hand, is predicting that this year will bring the start of the next recession. They put together a panel of more than 100 real estate experts, economists, and strategists to get their views on the timing of the next recession. 19% of them predict the recession to start in Q3 of this year. Only 1% predict that a recession will not begin until 2023, and another 1% anticipate that it will be after 2023.
Lawrence Yun, Chief Economist with the National Association of REALTORS®, predicts housing prices will appreciate between 3 and 5% in 2020. Builders continue to start more homes but are still unable to keep up with current demand. This will be felt more in low to mid-priced homes as millennials are currently approaching 50% of the current market activity.
The rule of thumb definition of a recession is two consecutive quarters of negative Gross Domestic Product (GDP) growth. We haven't seen a single quarter of negative GDP growth since the first half of 2009. Let's remember that recessions are an inevitable part of the economic cycle. At 127 months, we're currently experiencing the longest-running US economic expansion in history. The prior record was 120 months (from March of 1991 to March of 2001). So, given the statistical data, it's no wonder why we're beginning to hear quite a bit more talk of a looming recession.
Everyone has an opinion. Although we tend to give more weight to the predictions of economists, historical data proves that even <a target="_blank" href="https://www.bloomberg.com/opinion/articles/2019-07-19/recession-forecast-for-2020-economists-are-so-bad-they-re-good">economists are consistently wrong</a>, or better put, slow to catch up to the most recent data. The majority of economists inaccurately predicted the beginning and also the end of the last recession. Full IMF report 'How Well Do Economists Forecast Recessions' <a target="_blank" href="https://www.imf.org/~/media/Files/Publications/WP/2018/wp1839.ashx">here.</a>
I'll toss my opinion in the mix, too. We're in record territory here, and a recession will inevitably occur. The only lack of clarity is when it will happen. So, when making critical financial decisions such as buying or selling a house, you must weigh the pros and cons, including the impact a recession would have during or after your transaction.
If you're likely to move out of the state in the next couple of years, it may be worth considering selling while near the peak and then renting before you move out of town so that you aren't potentially selling in a buyers market. That being said, if your house is well maintained and has lots of upgrades, it would likely do well even in a buyer's market.
If you're thinking of downsizing, this may be the time to sell instead of having to do so in a buyer's market.
If you're thinking of upsizing, you may be better off holding out for a recession and upsize then because the higher valued homes tend to take more of a hit (in general) in a recession.
I love all things real estate, and if you feel like a move may be in your future, we should get together and brainstorm the pros and cons regarding timing and potential market conditions.2020-01-16T10:18:00-07:002020-01-27T13:59:22-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:4385Boulder County Receives a Bump in Conforming Loan Limits for 2020<img src="https://assets.site-static.com/userfiles/1323/image/house_made_of_blocks_in_grass.jpg" width="350" height="233" alt="2020 Conforming Loan Limit Boulder Area" title="2020 Conforming Loan Limit Boulder Area" class="img_box_right" />The Federal Housing Finance Agency (FHFA) announced on November 26, 2019, that the nation-wide maximum conforming loan limits for 2020 will increase to $510,400 compared to the 2019 limit of $484,350. The loan limit was increased as a direct reflection of the 5.38% increase calculated by the FHFA in their seasonally adjusted housing price index. ‘Conforming loans’ refer to loans with origination balances below a specific amount as defined by law. These loans are then eligible for purchase by the two government-sponsored mortgage loan companies, Fannie Mae and Freddie Mac, to maintain liquidity, stability, and affordability in the mortgage market. Loans with origination balances above the defined amount are referred to as jumbo loans. Often times, interest rates for loan amounts that are on the cusp of this division fluctuate and an increase in the conforming loan limit may or may not translate to more attractive interest rates.
Conforming Loan Limit is Effective for Dec 2019 Loans
Homebuyers could take advantage of the loan limit increases as early as December of this year. In our area specifically, a higher conforming loan limit was established because Boulder County satisfied the regulatory criteria which states if "115% of the median home value exceeds the nation-wide conforming loan limit" then the limit shall be increased. Accordingly, in these higher cost areas like Boulder County, the 2020 conforming loan limit is $644,000. See a full summary below.
2020 Conforming Loan Limits for Boulder and Beyond (<a href="https://www.fhfa.gov/DataTools/Tools/Pages/Conforming-Loan-Limits-Map.aspx">click for map</a>)
Boulder County $644,000<br /><br />
Denver, Broomfield, Jefferson, Arapahoe, Douglas, Adams: $575,000<br /><br />
Summit County: $625,000<br /><br />
All other counties in CO: $510,4002019-12-27T14:25:00-07:002020-01-30T21:42:57-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:4394Top 5 Ideas for Winter Fun in the Boulder AreaRead below for our recommendations which range from area traditions to new events for 2019...
<img src="https://assets.site-static.com/userfiles/1323/image/shutterstock_119864710.jpg" width="300" height="200" class="img_box_right" />1. Holiday Tea Service
There are four locations that offer tea service in the Boulder area. See list below
<a href="https://www.boulderado.com/holiday-teas/">Hotel Boulderado Holiday Tea Series</a> – Nov through Dec 22<br />Boulder’s iconic historic hotel offers three types of tea service: Boulderado Tea, Royale Tea, and Children’s Tea<br /><br /><a href="https://www.bouldercoloradousa.com/event/afternoon-tea-at-the-boulder-dushanbe-teahouse/17972/" target="_self">Boulder Dushanbe Teahouse</a> – An elegant afternoon tea is available daily, by reservation. English-style white linens accompany all the tea time accouterments.
<a href="https://stjulien.com/eat-drink/jill's-restaurant-and-bistro" target="_blank">St. Julien Hotel & Spa</a> – Visit the hotel and enjoy their Gingerbread Tea
<a href="https://www.bouldercoloradousa.com/listings/chautauqua-dining-hall/55/" target="_self">Chautauqua Dining Hall</a> – Sunday tea service happens in front of the cozy fireplace.
<a href="https://www.thehuckleberry.com/afternoon-tea">The Huckleberry</a> – Nov 29 – Jan 1<br /> The Huckleberry Restaurant in Louisville serves afternoon tea year-round. During December though, tea service is holiday-themed and guests are also treated to a holiday gift bag.<br />
2. Outdoor Fun
Ice Skating in Louisville – All December long<br /> Located next to Steinbaugh Pavilion. A hot cocoa and snack bar is located next to rink and skates are available for rent.
Horse Drawn Carriage Rides – Sat/Sun in December <br /> Leaves from Steinbaugh Pavilion 12p-3p. Free.
3. Fun Events for the Kids
Gingerbread House Decorating – Dec 20-22<br />Visit Bittersweet Café in downtown Louisville for Gingerbread House Decorating from 4pm-7pm.
Motown for Kids Holiday Celebration – Dec 22<br />The Boulder Theater presents the Motown for Kids Holiday Celebration performed by the Rock and Roll Playhouse group of performers. These performers offer weekly family concerts at many of the regional concert halls and theaters. Volume levels are turned down and games and audience participation is encouraged.
4. Indoor Light Show
<a href="https://www.colorado.edu/fiske/showtimes/fulldome-films-star-shows/season-light">Season of Light Show at Fiske Planetarium</a> – Ongoing in Dec<br />Visit the planetarium on CU’s campus for a special show that explains the history and development of the world’s most interesting holiday rituals, all of which involve lighting up the winter season. This is a special experience given the film is designed for viewing in a planetarium that mimics the night sky. See trailer <a href="https://youtu.be/OCKm5FTzBo8">here</a>.
5. Post-Holiday Fun
<a href="https://business.lafayettecolorado.com/events/details/lafayette-oatmeal-festival-and-5k-walk-run-january-11-2020-7896">Lafayette Quaker Oatmeal Festival/5k Run</a> – Jan 11<br /> Run a 5k and enjoy a warm bowl of oatmeal topped with every imaginable combination in downtown Lafayette.<br /> <br /> <a href="http://prairiedoghalf.com/winter.html">Arctic Prairie Dog Half Marathon</a> – Jan 19<br /> Run a 5k, 10k, or Half Marathon which winds through the back roads of east Boulder County.2019-12-16T14:20:00-07:002019-12-16T14:44:42-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:4367Boulder County Market Trends: Winter 2019<img src="https://assets.site-static.com/userfiles/1323/image/lauren/housecoinplant.jpg" width="300" height="166" title="Boulder House Prices" class="img_box_right" />Our local market trends this fall remain consistent with expectations. There are a few outliers in the data set and they are explained below. In general, value increased in single digits across most cities that we poll. Homes are sitting on the market longer than they did last year. “Closed sales” in Superior doubled this year compared to last as buyers take advantage of all of the new construction homes in Downtown Superior. See an update on the new developers and their floorplan options <a href="https://www.bouldercountyrealty.com/blog/downtown-superior-new-builders-offer-unique-styles-and-floorplans-for-all-phases-of-life/">here</a>. It is also worth noting that homes continue to sell for slightly less than the original list price across most of the region. This is a noteworthy indicator of a weakening seller’s market. Buyers continue to benefit from high inventory levels with less competition. Accordingly, they are able to negotiate with sellers to terms that benefit them greater than in a strong sellers’ market.
Click <a href="https://assets.site-static.com/userfiles/1323/file/Winter_2019_stats.pdf" target="_blank">here</a> OR on the table below to expand and view all statistics.<br /><br /><a href="https://assets.site-static.com/userfiles/1323/file/Winter_2019_stats.pdf" title="Boulder Area Housing Stats Winter 2019" target="_blank"><img src="https://assets.site-static.com/userfiles/1323/image/lauren/stats_image.JPG" width="600" height="323" title="Winter 2019 Boulder Housing Stats" class="img_box_left" /></a><br />
2019-12-11T13:00:00-07:002019-12-11T13:16:52-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:4342Downtown Superior - New builders offer options for all phases of lifeDowntown Superior continues to develop and some exciting new residential options are now available including three neighborhoods offered by builders that are new to the Downtown Superior space. If you live in and around Superior or Louisville, or frequent the Sports Stable for hockey practice or events, then you have watched as Wonderland Homes sold out of their four-story townhomes and Remington Homes completed and sold their Phase I townhomes and single family homes and are now selling units with new floor plans for Phase II. Thrive Builders, the last of the original three builders to secure land within Downtown Superior, has broken ground on their two-story solar powered row homes. Now we have more builders on the scene: Boulder Creek Neighborhoods, Discovery Residential, and Toll Brothers. Read on to learn more about all current and future plans from these various builders.
Overview of Home Builders
Remington Homes
<img src="https://assets.site-static.com/userfiles/1323/image/lauren/0916191308a_HDR.jpg" width="300" height="225" title="Remington Homes Downtown Superior Single Family" class="img_box_right" />Currently selling new floorplans for both townhomes, starting at $564,000, and single family homes, starting at $636,000, in Phase II. Four new townhome floorplans range from 3-4 bedrooms, 2.5-3.5 bathrooms, and 1,700-2,200 square feet. All floorplans include 2 car garages and 10 foot ceilings in the 1st and 2nd floors with 12 foot ceilings in the master bedrooms. Three new single family floorplans all offer 3 bedroom, 2.5 bathrooms, and 2 car garages. The floorplans differ in layout and square footage from 2,300 – 2,500 square feet. Call 720-339-1500 to schedule an introductory meeting to review floorplans, estimated building schedules, etc. as these homes are not yet built.
Thrive
<img src="https://assets.site-static.com/userfiles/1323/image/lauren/0916191244a_HDR.jpg" width="300" height="225" title="Thrive Homes Downtown Superior CO" class="img_box_right" />Currently selling two-story solar-powered row homes starting at $574,000. Floorplans range from 2-3 bedrooms, 2.5-3.5 bathrooms, and 1,500 – 2,000 square feet. All plans have oversized two-car garages. This builder differentiates themselves from others in their focus on energy efficiency and use of building materials with less environmental impact (i.e. solar panels are standard, water heater is tankless, low VOC paints, and use of reclaimed wood for finishing pieces). These homes are worth checking out. The location of the Thrive homes is unique in that they are adjacent to the childrens’ playground and slightly higher on the hill in the Downtown Superior Community.
Thrive have almost completely sold out of their first phase of homes, with just three of thirteen total residences still available. There are plans to open sales of the 18-24 homes slated for Phase II in October 2019. For an update on availability and to schedule a tour, call 720-339-1500.
Discovery Residential
<img src="https://assets.site-static.com/userfiles/1323/image/lauren/0916191241a_HDR.jpg" width="300" height="225" title="Discovery Residential Downtown Superior CO" class="img_box_right" />Discovery Ridge is collection of 20 single family homes with larger square footage, mountain views, and no HOA. Floorplans are categorized by “Collection”. The Silver Collection starts at $1,050.000 and has two floorplans that are approximately 2,600 square feet with two bedrooms and 2.5 baths. Some of their floorplans provide for two master bedrooms, which is a nice feature when entertaining guests for extended stays. The Gold Collection starts at $1,200,000 with three floorplans that are approximately 3,400 square feet with 3-4 bedrooms and 2.5-3.5 baths. One of the floorplans has a main floor master. This builder offers some higher-end finishes including steam showers, heated floors, and customized closets. Call 720-339-1500 to schedule a personal tour.
Boulder Creek Neighborhoods
Lanterns at Rock Creek refers to the development currently underway just east of Downtown Superior and just off of S 88th St. These homes will be ranch-style paired patio homes starting at $640,000. There are four floor plans ranging from 1,700-3,300 square feet with 2-4 bedrooms and 2-4 bathrooms. The differentiating aspects of these homes compared to other options at nearby Downtown Superior are that they are one level and paired or connected to one other home. These homes are being pre-sold, call 720-339-1500 to learn more.
<img src="https://assets.site-static.com/userfiles/1323/image/lauren/0916191238_HDR.jpg" width="300" height="225" title="Boulder Creek Neighborhoods Rogers Farm Downtown Superior" class="img_box_right" />Rogers Farm refers to the development currently under construction on the north side of McCaslin, just across the road from Downtown Superior, and on the same side of the road as Whole Foods and Target. The development will feature single family homes, starting at $730,000, with three floor plan options ranging from 2,440-2,800 square feet with 3-4 bedrooms and 3.5-4 bathrooms. The differentiating aspects of these homes compared to the single family options across the street at Downtown Superior are that they offer more garage space (two to four car options) and slightly larger lot sizes. These homes are being pre-sold, call 720-339-1500 to learn more.
Toll Brothers
This national builder is currently resubmitting their application to Superior City Council to develop 199 townhomes and 101 single family cottages over 37 acres next to Downtown Superior, starting in 2020. The building would occur in four phases. There will likely be six floor plans for the townhomes and five floor plans for the single family homes.2019-11-04T09:00:00-07:002019-12-16T13:18:05-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3119Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/1323/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2019-10-18T15:52:00-07:002019-10-18T14:07:05-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3267Avoid These Mistakes When Buying New Construction<img src="https://assets.site-static.com/userfiles/1323/image/IMG_0478.JPG" width="1152" height="768" />
Purchasing a brand new home in a new development can be an exciting option. It’s easy to pop into the sales center of new developments and entertaining to tour the beautiful model homes. The sales center representatives, who act on behalf of the developer as real estate agents, will put you at ease and encourage you to proceed with the process of buying without independent representation. Please review the common mistakes buyers make below before touring new homes.Purchasing a brand new home in a new development can be an exciting option. It’s easy to pop into the sales center of new developments and entertaining to tour the beautiful model homes. The sales center representatives, who act on behalf of the developer as real estate agents, will put you at ease and encourage you to proceed with the process of buying without independent representation. Please review the common mistakes buyers make below before touring new homes.<br /><br />1) Not visiting the development with your realtor on the FIRST visit.<br />This is one of the most regretful mistakes that buyers make and it can be easily avoided. Essentially, the builder has allotted money to pay the real estate agent (representing you) a commission because they know that agents bring lots of buyers. The problem is that the builders hire sales representatives (the ones that assist you at the model homes) typically on a commission based employment (base salary + commission) so the sales reps are incentivized to work with as many unrepresented buyers as possible. The builders have a simple rule in place that if not followed, can cause some real issues. That rule is that the agent who is representing the buyers MUST both register the buyers with the sales office (stating that the agent is representing them) AND be with the buyers the first time they visit the new community. If that doesn’t happen, then the buyers agent will likely not be paid a commission by the builder and therefore, won’t assist the buyers throughout the numerous stages of the new home buying process. Or, the buyers agent representing you may turn to you for the payment of their commission. <br /><br />2) Assuming the final purchase price will be similar to that of the base price and falling in love with the model home.<br />It’s simple for buyers to tour a model home and fall in love with the home in large part due to fancy finishes. You’ll want to get a clear understanding of just what is included in the base or standard price. You’ll likely be surprised at just how few things are included and that you’ll have to tack on many “upgrades” to get a house that even remotely resembles that of the model home you love.<br />
<img src="https://assets.site-static.com/userfiles/1323/image/IMG_0476.JPG" width="1152" height="768" /><br />
3) Running up debt before closing on your new home.<br />The construction process of a new home can take 6-10 months and the builders will make sure that you’re pre-approved at the start of the process. Over the course of the next 10 months or so, buyers may wind up buying another car and run up credit card debt buying things for their new home such as furniture, blinds & appliances. The lender will check your debt to income ratio’s again prior to closing so be sure to keep your spending consistent and if you’re thinking of making any big purchases, talk to your Realtor and Lender first.<br /><br />4) Thinking that you can’t afford a brand new home. <br />Typically, new homes are more energy efficient than existing homes, which can help save money on utility bills. Also, there tend to be fewer projects around the house that you’ll want to take on after buying a new home. After buying an existing home, however, you might find yourself in the midst of many projects and living within a construction zone as you remodel the house. Renovating a kitchen and bathrooms can take a fair amount of time and be a large cash outlay whereas a new home might cost more at closing, you’ll likely just be making one monthly payment with a low interest rate and not have to take on large jobs. Sometimes financing is the better option. With todays interest rates on a 30-year fixed rate mortgage, you’ll typically spend around $50/mo on your mortgage payment for every $10,000 borrowed. So, would you rather have a brand new $10k value bathroom for an extra $50/mo or spend $10k cash out of pocket and be living in a construction zone working evenings and weekends? <br /><br />5) Choosing the wrong mortgage.<br />We caution against anything less than a 30-year fixed rate mortgage. Why? Because most of us have mapped out our future, however, things can and typically will change. If you’re feeling pretty confident that you’ll only be staying in a home for 5 -7 years and therefore choose a 15-year mortgage or adjustable rate mortgage, you’ll have to ask yourself what happens if we end up staying longer? Do the benefits of the mortgage you’re considering outweigh the risks? <br /><br />6) Assuming that new construction means the home won’t have any issues.<br />Like any business, there are great builders out there and terrible builders out there. Some clear differences between them is how they handle issues when they inevitably arise, what types of construction materials are being used and work ethic of the craftsmen actually building the homes. Seek a competent new construction Realtor that knows what to look for from the time the builder breaks ground to the time you get the keys to your new home and who is looking out for your best interests all along the way. <br /><br />7) Thinking that the home buying process is easy because it’s new construction. <br />The process of buying a new home is entirely different from that of a resale property. - First, the price advertised is typically the “base price” and not the final purchase price. You’ll need to budget your money wisely since there are plenty of structural upgrade options and design options to choose from. This is in addition to the available lots and lot premiums that are tied to those lots. These options routinely add 10% - 20% on top of the base price. You’ll need to navigate your way through the barrage of options and choose those that mean the most to you and then you’ll have lots of styles and colors to choose from when it comes to the design options.- Second, the contract paperwork is entirely different than a resale property.- Negotiations are different. With new builds, unless under extreme economic downturn circumstances, there is no room for negotiation on the base sales price. Depending on demand and time of year, there may be some wiggle room on the price of your options and upgrades. - The quality of the construction. Unless you have spent years on new construction sites or have gone through extensive training on new construction, you won’t likely know what to look for to determine if things were done properly or not throughout all phases of the construction process. Just because the builder has gone with quality materials doesn’t mean that you’ll get quality workmanship. You’ll want to have someone you can trust to visit the site multiple times and check for flaws. Whether it’s you, your realtor or parents/in-laws, have one or more people on your side that are wise about construction.<br /><br />8) Failing to choose a Realtor who is experienced with new construction and independent of the development itself.<br />Buyers often feel a real estate agent isn’t necessary when buying a new construction home because there’s a sales representative within the new development that is there to assist them with their questions. The problem is that the sales representative works for the builder and has the builder’s best interests in mind, not yours. You have nothing to lose and much to save by hiring a real estate agent that will work on your behalf and who has significant experience with new home construction. On top of that, the real estate agent won’t cost you any money because the builder will pay their commission (it’s not something that needs to be negotiated).<br /><br />9) Being set on a specific lot or lots within the new development. <br />While it’s nice to have favorites, you could be sorely disappointed if you don’t get one of the lots that you have pre-selected in your mind. Sometimes the lots are first come, first served, however, the majority of the time, there are waiting lists that come around even before the builder breaks ground on the land. These buyers then have first choice over the lots as they are released. If your lot does become available to you, another challenge you could run into is that the neighboring lots may have chosen the model you like most and the builder can’t/won’t put two of the same models right next to each other. So, it’s good to be very familiar with the lots and which you prefer, but strive be flexible if your ideal lot is not possible to get. <br /><br />10) Not hiring a third party home inspector. <br />When the new home construction labor force is in high demand, the subcontractors actually building your home may be overworked and so can the city/county building inspectors. Being overworked means that mistakes are made and things are missed. Don’t make the assumption that residential building codes equate to a perfect home in the end. Building codes are primarily designed for health and safety and like I said, even these areas could be missed on occasion. So, consider having a pre-drywall inspection done so that things can be discovered before they’re covered up. Also, consider having an inspection done prior to closing and another inspection done after one or more years living in the house but before the end of your builder warranty so you don’t lose your ability to make a claim before the warranty expires.<br /><br />11) Not reading the contract paperwork. <br />Unlike the state approved purchase contracts used for most resale (existing) properties, builders have the unique ability to create their own purchase contracts in Colorado. What that means is that you’ll typically find that the purchase contract for new home construction is very much in the favor of the builder, especially in a hot market. Many times, the contract can be summarized by saying that the builder has very little liability and the buyer is hoping that the builder completes the home so they can move in. Even earnest money, that is meant to be sitting in an escrow account, can be spent by the builder right away on whatever they want. If you want new construction, you have little choice but to read, become very familiar with the paperwork and literally hope that they’ll complete the project and on time. There is typically no language with teeth against the builder since it’s their contract. 2019-10-16T16:31:00-07:002019-11-04T11:16:22-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3309Solar Panels- The Lesser Known Details<img src="https://assets.site-static.com/userfiles/1323/image/Solar-Panels-Louisville-CO.JPG" width="720" height="480" />
With seemingly everyone talking about and jumping on the solar bandwagon, have you done your homework on solar panels? It’s great to become familiar with the lesser known details before signing up.
Solar may very well be a great fit and save money but there are several factors to consider and each application is unique. Get quotes from multiple companies and review the multitude of purchase and leasing options to determine which will serve you best. Do your best to factor in all costs from cradle to grave (as well as how long you’ll live at the property) to determine if you really will save money. Remember, even if you don’t save money you can still have the satisfaction of going green and getting your energy from the sun.
Here are some factors to consider...
Efficiency
-Roof direction can impact energy production. Solar companies will analyze and provide the specifics based on your roof direction.<br /><br />-Roof shading (due to trees and nearby structures). Again, solar companies will analyze this for you.<br /><br />-Cleaning the panels- how often do you expect to do this (or pay to have it done)?<br /><br />-Panel efficiency with leaves and caked on dust/dirt may not be accounted for when calculating energy generation.
-Solar panels lose efficiency with each passing year.
-There is a policy limit to the amount of energy the system can produce and it’s typically based on the average energy your household consumed the previous year. What if the house was vacant part of that time?
Unanticipated Costs
-There may be additional monthly fees/taxes/surcharges on your utility bill that are associated with having solar panels.
-If you would own the solar panels, contact your homeowners insurance agent to discuss insurance coverage of them and if the panels would be included automatically or if you'll need to pay extra for proper coverage. Get verification of this in writing. If you would lease the panels, insurance is likely already included within your monthly lease payment.
-Solar panel removal and disposal can cost thousands of dollars. Hopefully cost efficient recycling programs will spring up before the solar panels (from the current boom) are decommissioned. <br /><br />-You will likely need to re-roof your house at some point during the 20-30 years that the solar panels are on your house. Do you re-roof around the panels or remove them and then re-install them? If you re-roof around them, then the shingles won’t match after you ultimately remove the panels and install new roofing (due to fading). Removing and re-installing after a new roof is installed can cost thousands of dollars and may require a licensed electrician.
-The warranty on solar panels is typically 20-25 years while the warranty of inverters is typically 5-10 years. Therefore, you may find yourself having to replace the inverter (along with the labor for an electrician to remove the old and install the new) once or twice before the solar panels reach the end of their useful life. <br /><br />-Even if there is a covered warranty issue, you may get the replacement part but the labor expense will likely be out of your pocket.
-If the grid power goes out, so does your power, even on a sunny day. Investing in a battery backup system is a costly and completely separate topic.<br /><br />-Installing a solar system over roofing consisting of Spanish tile or cedar shake shingles will cost more than installing over traditional asphalt shingles.<br /><br />-Birds like to go under the panels to hide out (and defecate all over the roof). Be sure to add the expense of the optional screening to prevent the birds from getting under the panels (unless you want to help the birds keep comfy).
Investment
-Time Value of Money. If you spend $20,000 cash out of pocket to pay for the system upfront (after all rebates and incentives), the 'time value' of that money over the next 25 years would be $67,727 (if you were to instead invest that money elsewhere and received a 5% annual compounding rate of return). Which investment would be best for you based on your anticipated long term returns?<br /><br />-The average homeowner moves every 5-7 years. Paying upfront for a system and then selling within 5-7 years equates to placing money in the buyers pocket and typically a loss on your investment. Depending on location, buyers would like having the solar panels but not necessarily paying more for the house just because it has solar panels.<br /><br />-Lifespan of the panels vs loan life. Wouldn’t that be awful to still be paying off a loan on the panels after they reached the end of their lifespan? <br /><br />-Will you literally be saving money each month with nothing down loans and leases?
Other
-Solar panel production does produce hazardous waste that is not typically discussed when talking about how ‘green’ solar panels are. Learn more <a href="https://www.forbes.com/sites/michaelshellenberger/2018/05/23/if-solar-panels-are-so-clean-why-do-they-produce-so-much-toxic-waste/#fd6d67121ccd" target="_blank">Here.</a>
-Seek out online reviews of the solar companies you are considering going with. You'll always find some folks that were unhappy and wanted to vent to the world. Read the detailed reviews and if that reviewer brings up a good point on a bad experience, bring it up to the solar company to see if the solar company will explain how that scenario won't also happen to you. Remember, just because a company has a bad review doesn't mean that they are a bad company. It's not possible to keep every single person happy when dealing with a large volume of customers, however, great customer service does make a big difference.
My main purpose of writing this was to bring up the things that you may not be aware of so that you could take them into consideration before making a decision. Perhaps it's just me but it sure seems that most people assume that getting solar panels always equates to saving money.
Finally, there are many benefits to solar panels that most are well aware of so I won't go into them within this article.<br /><br />I'm always up for discussing details or assisting folks any way I can. So get in touch with me if you want to carry on the conversation.2019-10-06T13:01:00-07:002019-10-18T14:02:11-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3231The Best Regional Hikes for Visiting Family & Friends <img src="https://assets.site-static.com/userfiles/1323/image/300dpi_Flatirons.jpg" width="1620" height="1080" />
Check out this stellar list of day hikes that pack a punch in terms of scenery, are close-by, and don’t require you to wear 35 pounds of gear on your back. These hikes are excellent options for visiting family & friends that may be adjusting to the altitude. After you knock these off your list you should reference <a href="https://dayhikesneardenver.com/" target="_blank" rel="noopener">Day Hikes Near Denver</a> to learn about more local hikes. It is a wonderful resource.<br /><br />Estes Park (Rocky Mountain National Park) – Mills Lake<br /><br />This moderate 5.3 mile out-and-back journey includes a waterfall (Alberta Falls), a bridge crossing, and an alpine lake (Mills Lake). Pack a picnic to enjoy at the lake and take in the scenery of three “almost” fourteener mountains (Pagoda, Thatchtop, and Chiefs Head). You need to buy a park pass to enter.<br /><br />Estes Park (Rocky Mountain National Park) – Ouzel Falls<br /><br />During June and July, this 5.4 mile round trip moderate hike explodes with wildflowers including the rare calypso orchid. Ouzel Falls is a 40-ft waterfall located at 9,370 ft. Hike to Calypso Cascades and back on the same trail for a shorter 3.6 mile round trip trek. You need to buy a park pass to enter.<br /><br />Morrison – Bear Creak Trail at Lair o’ the Bear Park<br /><br />This 1.6 mile out-and-back if super family friendly as it is easy, shady, parallels a creek (Bear Creek), and plenty of spots for picnics. Fishing is also possible along the creek but check if a permit required.<br /><br />Boulder (Chautauqua Park) – Royal Arch Trail<br /><br />This moderate to difficult 3.4 mile out-and-back trail leads away from Boulder’s picturesque Chautauqua Park. The best feature of this hike is the 20 foot sandstone arch that spans overhead at the trail’s best lookout location. Chautauqua is packed during the weekends so plan this one either super early on a weekend or during the week.<br /><br />Littleton – Roxborough State Park<br /><br />Locals refer to this park as “Denver’s Garden of the Gods” due to the red rock formations, unique rock ridges, and fossil remains. The park is over 4,000 acres in size with a trail for everyone. Start out with the easy 2.2 mile loops of Fountain Valley Trail, which loops around the red rocks and the ruins of an old estate. You need to buy a park pass to enter.<br /><br />NW of Golden - Golden Gate Canyon<br /><br />This is another great state park consisting of over 12,000 acres and 36 miles of trails. Enjoy the view of the Continental Divide at the beginning and end of the moderate 2.5-mile Raccoon Trail loop. Another fun option is the 3-mile out-and-back Forgotten Valley Hike where hikers can see an old homestead. Golden Gate Canyon state park is great for camping too. You need to buy a park pass to enter.<br /><br />Evergreen – Alderfer and Three Sisters Park<br /><br />This 770-acre park consists of 18 separate trails ranging 0.2 to 10+ miles in length. Hidden Fawn trail is an easy 2.4 mile loop and boasts lots of wildflowers in the summer months. The 6.7-mile Summit Trail loop is another good one and provides views of the Continental Divide.<br /><br />Idaho Springs - St. Mary’s Glacier Loop<br /><br />This 1.6 mile out-and-back hike is an easy to moderate walk that offers a glacial lake and access to snow year-round usually if you make it to the actual glacier. Sledding and skiing are allowed on the glacier too at your own risk. There is a parking fee at both the north and south trailheads.2019-09-23T16:55:00-07:002019-10-18T14:07:30-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3307Don't Do These After Applying For a Mortgage<img src="https://assets.site-static.com/userfiles/1323/image/house_small.jpg" width="271" height="181" />
Don't do these things after applying for a mortgage because you could lose your ability to obtain financing.
The lender will check your credit again just before you close on your home and if your Debt to Income Ratio (DTI) is too high, they can deny your loan just before you close on your home. If that happens and you're just days away from buying your new home, can you imagine how devastated you'd be?
Don't go out and buy (or lease) a car
Don't ignore all of the information the lender is requesting from you. Getting them the info is a top priority.
Don't move large sums of money around (unless you get the clear to do so from the lender, such as shifting your down payment money)
Don't switch banks
Don't pay off or close any old collection accounts unless specified to do so by the lender.
Don't change jobs (and try to keep the one you have ;)
Don't take on new loans
Don't run up your credit cards on new appliances and furniture (maintain the same spending habits)
Don't co-sign a new loan for anyone
Don't stop paying your mortgage, unless the lender specifically told you to do so (in writing)
Don't file bankruptcy (sort of goes without saying, right?)
Now you know better :)2019-09-07T12:52:00-07:002019-10-18T13:42:26-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3281Recall Alerts - Websites to Keep You Safe<img src="https://assets.site-static.com/userfiles/1323/image/tomatoes-ketchup-sad-food.jpg" width="640" height="427" />
Frozen berries contaminated with E. Coli bacteria, a car with faulty brakes, an infant car seat that fails to lock into the base correctly – these are real issues that can affect our lives significantly. We’ve all likely been in the situation where something that we use has been recalled and it can be scary. <br /><br />While car manufacturers and some stores like Costco tend to issue recalls promptly, other companies can drag their feet. Be proactive and visit the main U.S. government <a href="https://www.usa.gov/recalls" target="_blank">website</a> for recall notifications. This site provides links to recall lists from government agencies that regulate vehicles, foods, drugs, consumer products, pet foods, medical devices and more. Take your vigilance to a higher level and setup auto-email alerts for specific products by <a href="https://www.recalls.gov/list.html" target="_blank">clicking here</a>.2019-08-31T17:48:00-07:002019-10-18T14:05:01-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3233Range Hoods 101 <img src="https://assets.site-static.com/userfiles/1323/image/Range_Hood.jpg" width="500" height="343" />
Raise your hand if you’ve ever returned home the day after preparing a particularly smelly dish and you can detect a lingering stink. Maybe it was pan-seared fish or a particularly aromatic curry. Whatever the source, we don’t like this stinky side-effect. The fastest way to “clear the air” is to turn the range hood over your stove or cooktop on during cooking and to leave it on for a few minutes after you've finished. Here is what you need to know in terms of types, features, price ranges, etc.
Types of Vent Hoods
Wall-Chimney
This type of vent hood extends all of the way to the ceiling. They vent directly outside through ductwork in the wall or ceiling. Price range: $500-$3,000 depending on size, exterior finish, airflow and other features.<br /><br />Under Cabinet<br /><br />This type of vent hood mounts to the bottom of a wall cabinet. The ductwork should route outside (more on this below under “Important Considerations”. These vents are as deep as the cabinet under which they are mounted, which is less deep than the cooking surface. As a result, sometimes they do not capture all steam and smoke from the cooking surface. Price range: $150-$1,000 depending on airflow and features. Another option is to purchase a microwave and vent hood combined, which is them called a 'microhood'. The price range for a microhood: $300-$1,000.<br /><br />Island<br /><br />This type of vent hood is similar to the wall-chimney design but is not supported by a wall behind. They vent directly outside through ductwork in the ceiling. Island vent hoods should be slightly larger than the cooking surface to capture all steam and smoke because there are no walls to help direct these gases into the device. Price range: $1,000-$4,500 depending on size, exterior finish, airflow and other features.<br /><br />Downdraft<br /><br />This type of vent is designed for use on an island or other area where the homeowner either cannot or prefers not to have a hood above the cooking surface. They are designed to pull steam and smoke down through the vent, which typically pops up out of the cooking surface, and through ductwork in the floor. These vent hoods are the least effective. Price range: $300-$1,000 depending on size, exterior finish, airflow and other features.<br /><br />General Note: Just as the price for hoods varies widely, so will the cost of installation. Expect to pay a minimum of $300 if the ductwork already exists and you are installing an undercabinet model and upwards of $750 if ductwork needs to be installed. Installation of wall-chimney units will also require some drywall or touch-up painting as well.
Important Considerations...
Airflow- this is the most important feature of the hood. Manufacturers report the airflow of the unit, or how much air is pulled through the vent in a given time period, in cubic feet per minute. The higher the airflow the faster air will be pulled from the cooking surface.<br /><br />Fan Speed(s) – better quality units have at least two speeds; a higher speed to void the cooking area of steam, smoke, and odor during cooking and a lower speed to continue to draw stinky air from the cooking area once cooking is finished. <br /><br />Exhaust Timer – this feature allows the user to set a timer that automatically turns the vent hood off after a set amount of time.<br /><br />Thermostat Control – some undercabinet models have a temperature sensor that will automatically turn the vent on if the cooking surface reaches a certain temperature. The point is to protect the electronics of a microwave, which is typically installed above the hood. However, there is a safety concern with this feature if a fire were to ignite on the cooking surface as the vent would draw more air on the fire essentially fanning the flames. <br /><br />Duct Vs. Ductless – We advise to always opt for a range hood with duct work that directs the exhaust outside of the home. Ductless units simply redistribute the stink throughout the room by sucking up air around the cooking surface and releasing it back into the room. Yes, ductless units are cheaper but what’s the point of buying a range hood in the first place?
2019-08-14T17:45:00-07:002019-10-18T14:04:14-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3227Guide to Grills & Smokers: Best of 2018
<img src="https://assets.site-static.com/userfiles/1323/image/grilling.jpg" width="5115" height="3264" />
Do you enjoy grilling and or smoking and want to invest in a setup? Look no further than these definitive guides on choosing the best grill and/or smoker for your situation.
Grilling
Popular Mechanics published a <a href="https://www.popularmechanics.com/grill-bbq-ideas-tips/" target="_blank" rel="noopener">comprehensive guide</a> to the best gas grills for home as well as portable, grilling gadgets, best cleaning techniques, and more this year. We especially found the article on converting your grill to a smoker interesting.
Smoking
We love reading articles on <a href="https://www.grillsforever.com/" target="_blank" rel="noopener">grillsforever.com</a> where their motto is “If the Grill Doesn’t Smoke Then Your BBQ is a Joke” – they take things seriously! Here is there <a href="https://grillsforever.com/smoker-grill-buying-guide/" target="_blank" rel="noopener">recent guide</a> to choosing the best smoker for you, whether it be an electric, pellet, charcoal, or gas.
2019-07-25T16:20:00-07:002019-10-18T13:41:45-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:32527 Suggestions for a Smooth Kitchen Remodel<img src="https://assets.site-static.com/userfiles/1323/image/modern-kitchen.jpg" width="500" height="334" />
Kitchens are the hearts of our homes. They are also one of the best rooms in the house to remodel as a sizeable portion of the remodel cost can be recovered in the eventual sale of the home. Everyone loves a beautiful kitchen! A 2015 report released by the National Association of Realtors® reports that the median cost of a kitchen remodel in the U.S. amounted to $60,000. The report also cited that 67% of the total cost of the remodel was recovered during the home’s resale. We agree that a kitchen remodel is one of the two wisest places to invest in your home; with the other option being your master bath. However, to maximize your return on this significant outlay of funds, you need to remodel wisely using the tips below:<br /><br />1) Plan – Take your time to plan and really think through the entire remodel. More time spent up-front to think through all of the details will save you a lot of stress once construction commences. Some designers go as far as to recommend that the design and planning phase should take longer than the construction phase…go figure! In all seriousness though, let the following tips guide your planning process:
HGTV provides three different worksheets for planning, designing, and budgeting – check them out <a href="https://www.hgtv.com/remodel/kitchen-remodel/planning-your-kitchen-remodel" target="_blank" rel="noopener">here</a>.<br /><br />
Allow enough space for appliance doors to open fully – We’ve all seen or heard of stories of design snafus. Get creative in tight spaces with ideas such as <a href="https://www.pinterest.com/pin/151855818659840781/" target="_blank" rel="noopener">this one</a>.<br /><br />
Design around how YOU work in your kitchen – do you have a massive Tupperware collection and want to display it behind glass? Um, kinda weird but we’re not judging. Do you need extra tall storage for your Vita-Mix and Kitchen Aid? Think about how your new kitchen will serve you and your family as you grow older. Add pull-out tracks in low drawers, consider a <a href="https://modernize.com/home-ideas/17724/stand-alone-vs-wall-ovens" target="_blank" rel="noopener">wall oven vs a </a><a href="https://modernize.com/home-ideas/17724/stand-alone-vs-wall-ovens" target="_blank" rel="noopener">stand-alone</a><a href="https://modernize.com/home-ideas/17724/stand-alone-vs-wall-ovens" target="_blank" rel="noopener"> range</a>, design a smarter pantry that promotes organization.<br /><br />
Build in Contingencies for Time and Cost – Do you need your kitchen to be completed by Christmas? Well, work to have it completed by Thanksgiving...to allow for inevitable out-of-stock situations or contractor scheduling snafus. <br />
Decide on all materials and fixtures before commencing with construction – This allows tradesman to more accurately bid out their portion of your remodel. It may also help with the out-of-stock situations mentioned above.<br /><br />
Hire a Professional Designer – Unless you really feel like you can “own” the design, strategizing, material selection, and contractor hiring – you should hire a designer. Fees range from $75-$200/hour or about 5% - 20% of the total project cost.
2) Avoid Moving Big Ticket Items – Knocking down walls and relocating plumbing and electrical are costly and will take a big bite out of your remodeling budget. Here is a <a href="https://houseupdated.com/tearing-down-and-moving-kitchen-walls/" target="_blank" rel="noopener">real-world example</a> with great pictures of the project in all stages.<br /><br />3) Choose Your Appliances Carefully – Pick your appliances based on their ability to help you work happier and more efficient in the kitchen. Yes, appearance and style are important but don’t let these factors supersede everything else. Gas cooktops are impressive and do provide enhanced temperature control but those cast iron grates are a pain to keep clean. Who isn’t impressed by an <a href="https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8518512/A-history-of-the-Aga-cooker.html" target="_blank" rel="noopener">AGA cooker</a>? But do you really need a stove that heats loads of water and dries your clothes?<br /><br />4) Don’t Skimp on Lighting – Plan for both<a href="https://www.lightology.com/index.php?module=how_to&sub=kitchen-lighting" target="_blank" rel="noopener"> task lighting and ambient lighting</a>. Task lighting will allow you to work safely and efficiently. These lights are mounted under cabinets, hang from the ceiling as pendants, and can be recessed or on tracks to illuminate open counter surfaces or sinks. They are often installed as two or more to avoid creating weird shadows. Ambient lighting sets the general tone in the kitchen and draws people into the space. These lights can be a combination of recessed and wall mounted sconces and should always include dimmers.<br /><br />5) Think of Resale – If you’re remodeling a kitchen in a home that isn’t necessarily your “forever” home then you need to consider how appealing your design choices and material selections will be to future buyers. Choose durable counter surfaces and quality cabinetry and flooring that will “wear” well during your residence in the home. On a similar note, hold off on installing super custom design elements like flooring the entire space with pennies. Side note: The same advice goes for bathroom floors choices like <a href="https://apartmentgeeks.net/10-strange-looking-yet-awesome-home-flooring/" target="_blank" rel="noopener">this one!</a><br /><br />6) Setup a Temporary Kitchen – Install a few of your old cabinets and a piece of your old countertop next to the utility tub in your laundry room and voila – you now have a temporary kitchen. You will need a space to washes dishes, microwave food, and make coffee during the remodel. Go crazy and install a hotplate if you choose to cook. Here are some <a href="https://www.prettyhandygirl.com/how-to-survive-without-a-kitchen-during-renovation/" target="_blank" rel="noopener">tips for surviving without your kitchen</a> once the works begins.<br /><br />7) Measure Twice & Cut Once – These tips are for those homeowners who choose to “go-it-alone” without a contractor. Take heed of the following common blunders.
Determine countertop dimensions based on measurements taken AFTER base cabinets are installed. Out-of-square walls and cabinets that are slightly off spec may lead to ugly gaps between the wall and counter if you order your countertops based on planned vs. actual measurements.<br /><br />
Pay attention to the potential for floor gaps. If you plan to keep your existing flooring and replace your cabinets than ensure that the new cabinet are similar in depth to the old ones. Otherwise, you will need to address ugly gaps between the base of the new cabinet and the floor. Molding will typically hide gaps less than one inch.<br /><br />
Thinking of adding an island? Build a rough one out of plywood and try it out. Make sure it is the same size you plan on installing and allows for the same aisle width in your design in order to evaluate whether it will work.
2019-06-20T19:36:00-07:002019-10-18T14:04:36-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3270Cooling Your Home from A-Z<img src="https://assets.site-static.com/userfiles/1323/image/cooling-options.jpg" width="500" height="383" />
Summer is fast approaching and that means it’s about to get hot outside! We'll soon be turning on our cooling systems for some relief. Are you looking to add or upgrade your home’s cooling ability? See below for a summary of options, pros & cons, and recommendations.
Central Air Conditioner
Basics: This is a compressor cycle unit that utilizes refrigerant in a coil to cool air inside the home. The cool air is then circulated throughout the home in the same duct system used by the furnace in the winter. <br />Costs: $3,000-$6,000 for single zone unit and install*<br />Pros: Central AC is quiet and super convenient to operate using your wall thermostat. Provides air filtration.<br />Cons: This option is typically the most expensive to purchase and operate. Installation requires the services of an HVAC contractor. Cost depends on whether you want to replace an existing unit or add AC to your home for the first time. Note, before deciding to change out your unit, check your ductwork. Your home may not be as cool as you like due to leaking ducts versus an aging AC unit. If it’s a first-time install than the cost depends on whether your home is already setup for AC, if it needs additional ductwork, and/or access to install is tricky. <br />Tips: Select an installer that ensures: the unit(s) is/are sized correctly, your home’s duct system is free of any damaged or leaking sections and air flow throughout your home is optimized by adjusting ducts and vents. Pay attention to SEER and EER ratings but don’t get hung-up splitting hairs. The Seasonal Energy Efficiency Ratio (SEER) is the most common rating displayed on central AC units and represents total cooling output over a typical temperature range in warm seasons divided by total energy consumed. Values range from 8-30 but the highest value units only go to SEER-23 currently. The higher the number the more efficient the unit. SEER can be a good value for unit comparison purposes in Colorado as our average summer temperatures are in the range of values used in the government test to establish SEER values (i.e. average temperature value in summer is 83 degrees). The Energy Efficiency Ratio (EER) preceeds the SEER rating system and represents total cooling divided by total energy consumed based on 95 degrees outside, 80 degrees inside, and 50% humidity. Technicians tend to like the EER rating because it is a more straight forward calculation for comparing units but note that units. In summary, defer to EER values if they are available and default to SEER values if needed. We have read that units with a SEER rating higher than SEER-16 are not worth the money as these units are more expensive to repair based on their variable speed blowers.
Window Units
Basics: These units work in a similar fashion to central AC units but are much smaller and can be mounted in windows or through walls. They have a much smaller cooler capacity and are intended to cool single rooms. <br />Costs: $100-$500*<br />Pros: Install is simple and can be done by you the homeowner. Significantly less expensive than other cooling alternatives to buy and operate. <br />Cons: Air filtration mechanisms in window units are typically less than stellar. These units have no way of circulating cool air in the room so cooling is not uniform. They can be loud when cycling on or off.<br />Tips: Window units are rated using the EER system as d above for central AC units. Take the time to properly install a window unit to reduce leakage of cool air between the unit and the window frame. Skip the accordion-style panels that come with the unit and install rigid panels, secured with strong adhesive tape, on both sides between the unit and the window frame.
Ductless Mini-Split
Basics: Ductless mini-split units have been popular in Europe and Asia for years and are growing increasingly popular here in the States. These units consist of an outdoor compressor unit and one or more indoor “air handling” units, which emit the cooled air into the room and house the control panel for settings. The individual pieces are typically connected by a three-inch line containing power and refrigerant lines. Each indoor unit can be controlled individually providing flexibility in cooling options on a room-by-room basis. These units skirt around the issue of needing to run ductwork through the house for central AC while providing more precise cooling options than window units. These units are also a good option for additions or garage apartments.<br />Costs: $1,700-$8,000**<br />Pros: No ductwork required, can be installed basically anywhere on the wall, quiet, much more efficient than a window unit, great filtration. Some units also provide heating capability.<br />Cons: Installation requires the services of an HVAC contractor. Less efficient than central AC (assuming equally sized spaces are being cooled). Units are visible inside and outside of the home.<br />Tips: Regularly check and clear dust and debris from the outdoor unit and ensure the indoor unit is not blocked by furniture, curtains, etc. Clean the filters regularly every four to six weeks.
Evaporative Cooler (AKA Swamp Fan)
Basics: Evaporative coolers draws outside air across moist pads located inside the unit thus cooling the air via the evaporative cooling process. The fan located within the unit blows and circulates cool air around the house. These units work best in arid climates like ours. Evaporative coolers are capable of lowering indoor temperatures by a maximum of 30 degrees compared to outdoor temperatures.<br />Costs: $2,800 - $4,200* (For whole house unit)<br />Pros: Cost significantly less than central AC to install and uses significantly less energy to operate. Increase the humidity level in your home.<br />Cons: Requires regular maintenance.<br />Tips: The unit needs to be drained and cleaned regularly to ensure optimal performance. Units must be sized carefully to achieve the greatest benefit.
Whole House Fan
Basics: A high-powered fan that rapidly draws air up and outside of your home into the attic or through a vent pipe. These units are used at night to purge your home of warm air and draw cooler air in. <br />Costs: $1,500***<br />Pros: Can quickly cool entire home in evening or when the air outside is cooler than inside. <br />Cons: Does not provide cooling capabilities during the day and cannot be adjusted for temperature.<br />Tips: Look for fans that offer at least two speeds. Some variable speed fans now offer remote control access via your smart phone and the ability to set fan speed based on preferred interior temperature via your thermostat.<br /><br />*Costs are based on HomeAdvisor True Cost Guide for material and install within Boulder, CO and National stats.<br />** Costs are based on ImproveNet estimates for materials and install of one unit systems.<br />***Cost is based on fixr.com material & install estimates based on national average.2019-05-02T17:03:00-07:002019-05-03T17:07:56-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3224Hot Summer Eats: Trucks, Burgers & Ice Cream<img src="https://assets.site-static.com/userfiles/1323/image/thaiicecream.jpg" width="500" height="334" style="font-size: 17px;" />
Ten Best Food Trucks in Our Area
There is something special about eating delicious food alfresco in a chance encounter with an awesome food truck. <a href="https://www.westword.com/restaurants/denvers-best-food-trucks-10472494" target="_blank" rel="noopener">This article</a> from Westword ranks the ten best trucks in the area to help make your next food truck dining experience stellar. Whether it is authentic Puerto Rican sandwiches using plantains instead of sandwich bread or braised bison on Indian fry bread, this list covers a lot of delicious options for trucks both in Boulder and Denver. <br /><br />Best Burgers in Our Area <br /><br />Westword’s <a href="https://www.westword.com/restaurants/the-ten-best-homegrown-burger-bars-in-denver-10083691" target="_blank" rel="noopener">top ten burger list</a> this year features some time-tested favorites like the Cherry Cricket and Park Burger but also sports some new additions. Indulge one of these summer evenings with a pint and burger!
<br />Looking for a burger sans the meat but still super tasty? Look no further than Westword’s <a href="https://www.westword.com/restaurants/denvers-ten-best-vegan-burgers-for-summer-10454615" target="_blank" rel="noopener">recent article</a> on the ten best spots for a killer vegan burger. The restaurants listed range in location from Westminster to the Highlands to downtown Denver. <br /><br />Best Ice Cream in Our Area<br /><br />Summer is not complete without a quintessential ice-cream outing with the whole family and or friends. <a href="https://www.westword.com/slideshow/photos-denvers-best-ice-cream-shops-10460711/8" target="_blank" rel="noopener">This list of the region’s ten best</a> will not disappoint and includes some interesting locals like Milkroll, which serves up Thai-style rolled ice cream sundaes and Rocket Ice Cream at Lowry Air Force Base. Sweet Cow is of course on the list! We also would like to add the <a href="https://www.heiferandthehen.com/" target="_blank" rel="noopener">Heifer and the Hen</a> in Boulder as an honorable mention!2019-05-01T13:41:00-07:002019-05-01T17:29:25-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3282Yard Upgrades 2.0 - Gardening, Games & Gear<img src="https://assets.site-static.com/userfiles/1323/image/patio-with-umbrella.jpg" width="640" height="425" />
It’s Spring! Temperatures are warming, trees are blooming, and some of you may have even fired up the outdoor grill for some weekend BBQs. Are you thinking of ways to spruce up your yard in preparation for a summer of fun in the sun? Our yard makeover list provided below is full of unique ideas. <br /><br />1. Upgrades that Conserve Water:<br /><br />Replace flower beds with a water feature – Replace water-intensive grassy areas with a water-conserving waterfall-type feature that recirculates water. <a href="https://www.rmwaterscape.com/rmw/Portfolio/Pages/Pondless_Waterfalls.html" target="_blank">Pondless-type water features </a>are fed via a below-ground reservoir that is covered by rock, thus helping to reduce evaporation.
<br />Plant native, drought tolerant species – Pass on those plants that have high water and maintenance needs (i.e. dead heading, pruning, etc.) for native species that are proven to thrive in the Colorado sun and heat and still look good! We love to use <a href="https://plantselect.org/plants/find-a-plant/" target="_blank">Plant Select</a>, a website sponsored by Denver Botanic Gardens and Colorado State University, to find plants for our yard.
<br />Hardscaping – Replace some of the grass in your yard with “hardscape” to diversify the way that you enjoy your yard. Stamped concrete or patio pavers make a great surface in which to place a table and chairs for outdoor dining. Install a natural gas firepit surrounded by a gravel path. Or combine hardscape with gardening by surrounding your raised beds with gravel or paved paths.
<br />Go Faux – Do you have a patchy lawn where grass doesn’t grow well? Consider replacing it with synthetic turf. The initial upfront cost is significant but over time you may find the investment worthwhile when you no longer have to re-sod or re-seed, fertilize, water, and mow. <a href="https://www.homestratosphere.com/backyard-astro-turf-ideas/" target="_blank">Click here</a> for some ideas
<br />2. Uprades that Grow Veggies:
<br />Build raised garden beds – Veggies grow great in raised beds in our region. Their roots don’t have to compete with the high clay content in our ground soil and you are able to plant earlier in the season if you opt to cover your beds. You can build your own and find ideas for designs <a href="https://www.sunset.com/garden/fruits-veggies/raised-garden-bed-designs/view-all" target="_blank">here</a>.
Join a community garden – Alternatively, rent a garden plot in a community garden and meet some friends while you tend your veggies. Community gardens charge you for your plot, water and overhead costs in exchange for a plot with accessible water. Here is a list of community gardens in our region. <br /><br /><a href="https://www.growinggardens.org/community-gardens-" target="_blank">Boulder</a> – Hope, Centennial, Holiday, Foothills, Living Harvest, Hickory, Hawthorn, Fortune<br /><a href="https://www.growinggardens.org/community-gardens-" target="_blank">Longmont</a> – Alta Park, 11th Ave, Roger's Grove<br /><a href="https://www.growinggardens.org/community-gardens-" target="_blank">Louisville</a> – Kerr<br /><a href="https://www.cityoflafayette.com/Facilities/Facility/Details/7" target="_blank">Lafayette</a> – Wilson<br /><a href="https://sites.google.com/site/kenoshafarmcommunitygardenorg/home" target="_blank">Erie</a> – Kenosha Farm
<br />3. Upgrades that Increase the Fun Factor
Build an Outdoor Kitchen – Surround your stand-alone grill with stone counter tops, a bartop, or design the kitchen from scratch. <a href="https://www.thisoldhouse.com/ideas/cook-great-outdoor-kitchen" target="_blank">Get inspired with these designs.</a>
Build a Ping Pong Table – Ping pong can get pretty competitive in our home! It’s a great way to pass the time until dinner is finished cooking on the grill too. This<a href="https://www.thewellexamined.life/make/2014/12/30/how-to-build-a-concrete-ping-pong-table" target="_blank"> DIY outdoor concrete ping pong table</a> is a great alternative to buying one at the sporting goods store. Plus it can double as a second table when your guest list gets ridiculous ;)
Take Entertainment to the Next Level – Turn your yard in the PARTY yard with these twists on typical yard games. <a href="https://www.amazon.com/Victory-Tailgate-Cornhole-Night-Light/dp/B004IUND0M/ref=pd_sim_200_1?_encoding=UTF8&pd_rd_i=B004IUND0M&pd_rd_r=XVJVHEV3QEK9CCBKW29J&pd_rd_w=Tn51M&pd_rd_wg=BAaG6&psc=1&refRID=XVJVHEV3QEK9CCBKW29J" target="_blank">Night Light Cornhole </a>anyone? Keep your frosty beverages in <a href="https://www.pinterest.com/pin/170644273353526918/" target="_blank">easy reach</a> while playing horseshoes. Bring the <a href="https://thehorticult.com/show-thyme-how-to-build-an-outdoor-theater-in-your-garden/" target="_blank">movie theater</a> home to your yard.
Designate a Kids Play Area – Your kiddos will love these alternatives to the standard background swingset. Setup a game of <a href="https://www.hometalk.com/1727075/tic-tac-toe-garden-table" target="_blank">bug and bee tic tac toe</a>. Invite them to h<a href="https://readbetweenthelimes.blogspot.com/2011/08/hopscotch-stepping-stones-and-dramm.html" target="_blank">opscotch</a> through your garden. Build them a <a href="https://www.learnwithplayathome.com/2014/07/how-to-make-water-wall-for-kids.html" target="_blank">waterwall</a>.2019-04-09T17:51:00-07:002019-05-03T17:52:56-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3280Spring Cleaning - Natural Products that Work<img src="https://assets.site-static.com/userfiles/1323/image/bathroom-cleaning.jpg" width="1280" height="1096" />
The urge to fling open the windows, air out the house, and clean is synonymous with Spring. This instinctual ritual provides a sense of satisfaction, leaves us feeling unencumbered, and ready to embrace all of the adventure and opportunity that these warmer months provide. Spring cleaning can mean different things to different folks. Add a few new tips to your repertoire with the following natural cleaning techniques.
Citrus
Rejuvenate Your Cutting Board – Use one half of a lemon to massage coarse salt into your well-used wooden cutting board monthly to draw out lingering odors and stains. Sit for 10 minutes before rinsing. Maximize the life of your wooden board by working mineral oil or other food-grade oil into the grains.
Steam Clean Your Microwave – Mix 2 cups water, 2 tablespoons white vinegar, and a few drips of citrus essential oil in a microwave-safe bowl. Heat the mixture on high for four minutes and let sit in the unit unopened for four minutes. Open and wipe all surfaces down.
Sunlight
Sun-Bleach Stains – This method works well on lots of different stains…including all stains created by newborns. We speak from experience on this one! Wet clothing and lay as flat as possible directly in the sun. You may need to repeat with dark stains. For extra stain removing power, spray the stain with a mixture of ¼ fresh cup lemon juice and 2 cups water. Alternatively, pour ½ cup fresh lemon juice into a load of whites before machine washing and then proceed with sun-bleaching.
Streak-Free Windows – Clean your windows on a cloudy day. The Colorado sun will dry cleaning solution faster than you can remove it, leading to streaks…and frustration.
Vinegar
All-Purpose Spray Cleaner – Pour 2 cups water and ½ cup vinegar into spray bottle. Add 2 tablespoons baking soda and 25 drips of essential oil and shake to mix.
Glass Cleaner – Pour 1 cup water and 1 cup vinegar into a spray bottle. Add ½ cup fresh lemon juice.2019-04-09T17:39:00-07:002019-05-03T17:46:54-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3272The Good, the Bad, and the Ugly of Home Warranties<img src="https://assets.site-static.com/userfiles/1323/image/handyman-with-toolbox.jpg" width="500" height="334" />
Overview<br />A home warranty is an optional policy available to homeowners that covers the cost of repairing and/or replacing appliances and systems within a home. Most policy providers offer a variety of policies with a range of premiums and coverage options. Warranties are most commonly purchased by either the seller or the buyer at the point in time when a property changes hands. However existing homeowners are also eligible to purchase policies to cover ageing appliances and systems (assuming these things are in working order at the time of policy purchase). <br /><br />Is it Worth it?<br />The actual savings afforded by these policies are debatable based on their coverage loopholes. Many of our clients reason that it makes more sense to dedicate a portion of their savings towards home repair and maintenance versus carrying a home warranty policy. <a href="https://www.consumerreports.org/extended-warranties/what-to-know-about-buying-home-warranty/">Click here</a> for a quick summary of Consumer Reports take on home warranties. <br /><br />Nuts & Bolts of Home Warranty Policies<br />There are typically three tiers of coverage in a policy: basic, enhanced, and optional. Each tier typically covers the following:<br />Basic Coverage: Plumbing, range/oven, dishwasher, garbage disposal, exhaust fan, sump pump, water heater, ceiling fans, heating and electrical systems, built-in microwave.<br />Enhanced Coverage: A/C, washer/dryer, refrigerator, garage door opener.<br />Optional Coverage: Pool, spa, well-pump, septic system, standalone freezer.<br /><br />So how does a policy work? <br />The homeowner contacts the warranty company when an appliance or system stops working. The warranty company contacts a contractor to request repair or assessment. The contractor travels to the home to repair the issue. If the issue is beyond repair than replacement is an option but one must review their policy’s language carefully to understand when replacement is and isn’t covered. Policies typically range from $300-$600 per year. A customer can add extra coverage for things like swimming pools and spas. Most warranty companies do not differentiate between new and old homes. There is typically a deductible that must be met prior to covering things and a fee for service visits.<br /><br />Consider these major points when evaluating policies:<br />1) Check that the company offering the policy is in good standing – Check the BBB rating of the company and carefully reads ratings and reviews from multiple websites to narrow your search. Call your top three choices and have a conversation with representatives from each. Ask them for statistics on the % of denied claims on an annual basis, how their plan is differentiated from their competitors, what the local subscription rate is for your city, and what the average response time is for their contractor network.<br />2) Confirm the umbrella of coverage – Home warranties are somewhat notorious for not fully or adequately covering common repair and/or replacement needs. Make sure the policy that you’re considering is what you think it is. <br />3) Be aware of what could void the policy – policies are viable for a defined period and many stipulate strict terms & conditions whereby the policy is void if appliances and systems are not properly maintained according to manufacturer’s specifications and if you or a contractor perform additional work on any units after purchasing the policy.<br /><br />Red Flags to Watch For<br />A home warranty is not home insurance. Home insurance is required by lenders if the home purchase is financed. It covers your home’s structure and your belongings within the home should they be damaged by unforeseen or force majeure events like weather, fire, etc.. A home warranty covers a specific list of appliances and systems when they need to be repaired and/or replaced due to normal use. There is little need for a home warranty when purchasing a new home as most repair costs are covered by the appliance or system manufacturer. When purchasing a policy pay the most attention to the list of coverage, caps on coverage, replacement policies, deductibles, site visit costs, the size of their contractor network and effective dates. Some policy's activate a full 30 days posting closing. Again, it is our opinion that a dedicated savings account for home repair & maintenance is often times a wiser option than paying for a policy that doesn’t cover what ultimately requires attention.<br /><br />Who Benefits from Home Warranties the Most?<br /><br />The home warranty companies selling the policies. That being said, some buyers feel more comfortable purchasing a home that comes with a home warranty policy, especially when the Seller covers the cost. Thus, some Sellers feel that offering a policy will attract more buyers. This is especially the case for older homes. As an aside, some home warranty companies provide Seller’s with coverage for free during the home’s listing period. 2019-04-09T17:12:00-07:002019-05-03T17:15:11-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3120Is Getting a Home Mortgage Still Too Difficult?<img src="https://assets.site-static.com/userfiles/1323/image/getting-a-home-mortgage.jpg" alt="Is Getting a Home Mortgage Still Too Difficult?" title="Is Getting a Home Mortgage Still Too Difficult?" height="410" width="750" />
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2019-03-20T15:52:00-07:002019-03-20T15:54:54-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3118Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/1323/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 2019-02-20T16:52:00-07:002019-05-01T17:33:49-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3292Boulder County Realty's Step-by-Step Guide Are you thinking about making a move this spring? It’s a big, exciting decision that can also feel overwhelming! <br />Take control of the process and follow the steps in our guide below.
<a href="https://assets.site-static.com/userfiles/1323/file/BCRCSellingProcess.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BCRCSellingProcess.pdf"><img src="https://assets.site-static.com/userfiles/1323/image/BCRCSellingProcess.jpg" width="494" height="757" /></a>2019-02-07T19:35:00-07:002019-05-03T18:37:08-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3277Retirees' Most Common Real Estate Mistakes<img src="https://assets.site-static.com/userfiles/1323/image/elderly-couple-smiling.jpg" width="768" height="1024" />
Retirees want different things out of retired life. This also rings true when it comes to their real estate decisions. Some folks want to downsize and travel more. Others want to buy a bigger home in their favorite destination and host their ever-growing family for every holiday and vacation. Regardless of goals, there are a few mistakes that all retirees need to be aware of and avoid in order to enjoy their retired years to their fullest.<br /><br />Mistake #1 – Failing to assess your future needs - Will your current living situation mesh with your vision of life post-retirement? Does it have a main floor bedroom, which is much easier on the knees. How about the time and resources required to maintain a home’s exterior and yard when you no longer feel up to the task? Should you refinance to a 15-year fixed mortgage to pay your home off sooner? Discuss the advantages and disadvantages to living in your current location post-retirement and take thoughtful inventory of your conclusions. Use these conclusions to inform your next actions whether it be relocating, renovating your current home to meet future needs, or keeping everything the same.<br /><br />Mistake #2 – Waiting until retirement to buy a second home – Shift your mindset away from waiting until retirement to buy your dream vacation home and towards purchasing a practical property that can be rented for positive cash flow during your working years. Ideally, this second property is purchased in your 30s-40s so that rent collected by the tenants contributes significantly to paying down the mortgage while providing you with a second stream of income. When retirement comes, you have a couple options: sell your current home and move into the rental, sell the rental (and perhaps your current home) and use the equity to buy a new home without carrying a large mortgage, or extract the equity accrued and use it to purchase yet another rental property to throw off even more cash flow to cover living expenses. <br /><br />Mistake #3 – Rushing to buy in an area that you do not know well – You may be eager to move somewhere new upon retirement. Take the time to do the due diligence and understand what all aspects of living in this new area entail; physically, emotionally, and financially. Some folks assume that they want to move to Arizona to golf all day and bask in the sun but they fail to evaluate the specific region in which they’re looking for quality restaurants, shopping, commute times, transportation options, and health care providers.<br /><br />Mistake #4 – Using retirement money to pay off the mortgage – Aim to have your home paid off prior to retiring but do not do so by tapping retirement accounts to pay the monthly mortgage. The tax penalty levied on utilizing these fund before retirement really chips away at aggregate value of these types of accounts. Think about refinancing just before retirement if you do need to carry your mortgage with you.<br /><br />Mistake #5 – Deeding the property to you children – Let’s say that you want to move into a smaller home and allow your kids to take over your current residence. It makes more financial sense to sell them the home versus deeding the home as gift. Selling your home provides profit and tax incentives by way of the capital gains exclusion which allows you to avoid paying tax on up to $250,000 as an individual or $500,000 as a couple tax-free. In addition, your children will not be required to pay capital gains based on the different between the homes original price and current value. Note: your children would not be required to pay capital gains if they lived in the house for two out of the last five years.<br /><br />Adapted from 5 Major Mistakes that Retirees Make with Real Estate via www.realtor.com2018-12-14T18:29:00-07:002019-05-03T17:31:45-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3305Off the Beaten Slope: Fill Your Winter with FunColorado is a skier’s paradise. Many of you likely already have your skis and/or snowboard tuned and ready to carve. We know a few of you that have already hit the slopes. Living in Colorado and loving to ski goes together like bread-and-butter or peas-and-carrots. But, flying below the radar are the non-skiers among us..shhh..we won’t let your secret out. Whether it be the result of old knees, distaste for cold weather and icy driving conditions, or simply disinterest; these folks don’t ski. So what else is there to do in this state for fun in the winter other than carving down snow-covered hillsides at one of our many ski resorts? We’ve got some interesting recommendations below for alternatives that are off the beaten path.<br /><br />
<img src="https://www.bouldercountyrealty.com/mydata/images/f3s0i96crgq-jakob-owens_small.jpg" alt="" width="268" height="174" />
<a href="https://rockymountainnationalpark.com/things-do/winter/tubing-sledding" target="_blank">Snowshoe and sled in Rocky Mountain National Park</a> – rent some snowshoes in Estes or pack your own for a 1.6 mile trek to Gem Lake, complete with views of the Continental Divide and 1.8 billion year old granite formations along the way. You can also check out RMNP’s 2-hr long ranger-led snowshoe hikes to various areas within the park. Alternatively, dust off the old sled and hit the hills in Hidden Valley. This area of the park was formally a downhill ski area and now offers sled rentals, toilets, and a heating structure in which to thaw out.
<a href="https://cpw.state.co.us/placestogo/parks/ElevenMile/Pages/Winter.aspx" target="_blank">Ice fish, skate, and boat at Eleven Mile State Park</a> – Don’t put your poles away just yet. Pack them up and drive to Lake George, Colorado which is a 2.5 hr drive southwest of Boulder near Colorado Springs for some of the state’s best fishing. Try your hand at ice boating which is basically like windsurfing but on ice. Finally, snuggle into one of the parks 10 camp sites equipped with electricity.
<a href="https://strawberryhotsprings.com/" target="_blank">Take a nice, long soak in Strawberry Park Hot Springs</a> – Yes, you will have to drive to Steamboat and vacation among skiers but when they hit the hills you can hit the pools. Strawberry Park is a truly unique little gem of a facility outfitted with three pools built of large river rock. The pools are adjacent to the icy creek for those that dare to take a dip. Strawberry Park offers massage services, bathroom facilities, and rustic lodging. Clothing is optional after dark.<br />
Or stay inside where it’s WARM with these recommendations…<br />
Explore a new hobby with a local class at one of the following:<br /><br /><a href="https://www.livingartsschool.com/es" target="_blank">Living Arts School </a>– All classes are located in and around Boulder and include a wide range of topics from furniture making to knitting to barn dancing. <br /><a href="https://tinkerartstudio.com/" target="_blank">Tinker Art Studio</a> – Offers both child and adult classes including drawing and wheel throwing. <br /><a href="https://www.shopcommonthreads.com/schedule/" target="_blank">Common Threads</a> – Offers both child and adult sewing, knitting, and screenprinting classes. <br /><a href="https://www.escoffier.edu/programs/home-cook/class-offerings/" target="_blank">Escoffier School of Cooking</a> – Plenty of fun, three hour weekend classes ranging from candy making to Thai cuisine. <br /><a href="https://www.boulderphoto.com/" target="_blank">Boulder Photo Center</a> – Learn how to use that spiffy new camera that you are about to receive this holiday season. Take a beginning camera class series or an adobe photoshop editing class for those of you with advanced skills. <br /><a href="https://www.generalair.com/Training2016.aspx" target="_blank">General Air Welding</a> – Explore metal welding in Denver with classes from beginners to advanced. <br /><a href="https://www.craftsmanandapprentice.com/" target="_blank">The Craftsman & Apprentice</a> –Take a short drive to Denver to take a class at this dynamic space. Classes range from reclaimed woodworking to jewelry making.
Or stay home altogether while exploring new things with these recommendations…
Hire an instructor and take a class online using one of these cool new sites:<br /><a href="https://www.takelessons.com/">TakeLessons.com</a> – Hire a professional tuba player from the New York Symphony for lessons or brush up on your Spanish with an instructor living in Barcelona. <br /><a href="https://www.craftsy.com/" target="_blank">Craftsy.com</a> – Provides a wide range of online classes from quilting to cookie decorating. <br /><a href="https://www.edx.org/" target="_blank">edX</a> – Take free classes from top academic institutions such as Harvard, Berkeley, and MIT. Over 950 courses are offered across a massive range of topics.
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2018-12-04T13:39:00-07:002019-05-08T12:42:40-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3304Beat Cabin Fever: Top Home Projects to Conquer this WinterLet’s face it, we all love the first half of winter but the second half tends to drag on for what feels like forever! The novelty of the holidays, outdoor fun in the snow, and playing Yahtzee around the fire with friends & family gives way to boredom and yearning for warmer weather and fresh starts. Take advantage of this time of year by addressing some home maintenance and improvement projects. We recommend that you start by walking through your home to take inventory of what needs addressing in each room. Start with maintenance-type items and then allow yourself to get creative with cosmetic improvements. Here is a list of our top recommendations:
<img src="https://www.bouldercountyrealty.com/mydata/images/geh-r9a4rbg-taduuda_small.jpg" alt="" width="287" height="191" />
Maintenance
Hanging Loose
Fix loose towel bars and toilet paper holders by unscrewing the fixture and check the drywall anchor that holds the bar in place. Pull it out and replace with something more substantial like a toggle bolt or E-Z Anchor.<br /><br />
Repair blistered ceiling paint above showers and baths by scraping off old paint and repainting with exterior-grade paint that is designed to withstand heat and moisture. If you don’t have a bathroom exhaust fan, consider installing one.<br /><br />
Tighten up loose door, furniture, and cabinet handles with a screwdriver. If the screw just spins without tightening then replace with a larger screw.
Loud and Clear
Quiet squeaky door hinges with a squirt of powdered graphite in the pin where the hinge pivots.<br /><br />
Fix creaky floorboards with off-the-shelf repair kits like Squeeeek No More. These kits contain easily concealed screws to further anchor those troublesome boards.
Prior, Proper, Preparation...
Replace your ionization smoke detectors with photoelectric or dual-sensor detectors to ensure the best reliability. Learn more <a href="https://www.youtube.com/watch?v=zrOLxh8GuCU" target="_blank">here</a>.<br /><br />
Check your water shut-off valves on your toilets and sinks for rust which can accumulate over time and render them non-functional. Lube them up with WD-40 and turn on and off to work the lubricant into the threads.<br /><br />
Proactively replace the batteries in your carbon monoxide and fire alarms annually to avoid the loud chirping reminder that the units will emit.<br /><br />
Replace any cracked drain hoses on your clothes washer, icemaker, and dishwasher to avoid future floods.<br /><br />
Install programmable thermostat
Clean as a Whistle
Remove and clean the grates of your stove’s exhaust vent. If you have a microwave above your stove then remove and replace the filter. Grease builds up over time and can reduce the efficiency of air flow.<br /><br />
Clean out residual lint in your dryer’s vent pipe. Pull the dryer away from the wall and disconnect the vent pipe. Vacuum out lint trapped in the pipe and also in the hole coming out of the dryer. Take it a step further and venture outside to vacuum or clear out the external vent so air can flow easily.
Improvements
Face-lifts
Install a new backsplash – updating your kitchen backsplash can enliven your familiar kitchen surroundings. Look to ceramic subway tile for a traditional, monochromatic, and clean feel or choose from a wide range of glass mosaics in square or rectangular shapes to pull existing paint and countertop color through the theme. A backsplash is a great way to polish up on your tiling skills if you want to do it yourself.<br /><br />
Change out hardware – replace the pulls on your kitchen or bath drawers with new styles. Choose brushed nickel for a modern look, polished brass for a transitional feel, or glass & ceramic for a traditional look.<br /><br />
Install an accent wall – reclaimed wood accent walls are super popular right now. Look at local suppliers like Front Range Timber in Broomfield or Collector’s Specialty Woods in Denver.<br /><br />
New paint – Order up a few sample cans of paint from your local home supply store and try a new color on your walls. Make sure to paint a test patch on different walls in the same room to gauge how the color appears in different light. A color that appears perfect when painted on the sunniest wall may see too dark on the other walls that do not get as much light during the day.
2018-12-03T13:28:00-07:002019-05-08T12:31:24-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3219Iconic Winter Fun List 2018<img src="https://assets.site-static.com/userfiles/1323/image/winter-2902582_640.jpg" width="640" height="426" style="font-size: 17px;" />
Parades and Tree Lighting Ceremonies
<a href="https://www.downtowndenver.com/9news-parade-of-lights/">9News Parade of Lights</a> – Denver - Fri 11/30 at 8pm and Saturday 12/1 at 6pm
<a href="https://www.visitlovelandco.org/winterwonderlights/">Winter Wonderlights</a> – Loveland – Every Fri & Sat from 11/16-1/1 5pm-9pm shows every 30 minutes
<a href="https://www.visitgolden.com/olde-golden-christmas/holiday-parades/">Holiday Parade</a> – Golden – Three Sat 12/1, 12/8, 12/15 at 10:30am
<a href="https://www.boulderdowntown.com/light-up-the-holidays/events/lights-of-december-parade">Lights of December Parade</a> – Boulder – Sat 12/1 at 6pm
<a href="https://www.lyonscolorado.com/events/lyons-holiday-parade-of-lights">Holiday Parade of Lights</a> – Lyons – Sat 12/1 at 6pm
<a href="https://niwot.com/events/niwots-holiday-parade">Niwot Holiday Parade</a> – Sat 12/1 at 11am
<a href="https://www.louisvillechamber.com/chamber-events/#!event/2016/12/3/parade-of-lights-first-friday-art-walk">Louisville Parade of Lights</a> – Fri 12/7 at 5:30pm
Visits with Santa and Reindeer
<a href="https://www.facebook.com/events/jingle-bell-fridays-at-village-at-the-peaks/135841117015635/">Jingle Bell Fridays</a> – Longmont – Every Fri thru Dec 22 5pm-8pm
<a href="https://www.boulderdowntown.com/light-up-the-holidays/events/st-nick-on-the-bricks">Saint Nick on the Bricks</a> – Boulder –Sat 12/1 at 11am
<a href="https://www.cityofwestminster.us/EventDetails/e/7232?od=12/15/2018">Santa on the Plaza</a> – Westminster – Sat 12/8 at 5pm
<a href="https://www.cityofthornton.net/festivals-events/Pages/winterfest.aspx">Thornton WinterFest</a> – Fri 12/7 at 6:30pm
<a href="https://www.botanicgardens.org/events/special-events/santas-village-chatfield-farms">Santa’s Village at Denver Botanic Gardens Chatfield</a> – Every Fri, Sat, and Sun through 12/23
<a href="https://www.murdochs.com/news/reindeer/">Visit Live Reindeer at Murdoch’s</a> – Longmont – Sun 12/2 at 3pm
Chanukah Celebrations
<a href="https://www.facebook.com/r.php?locale=en_US">Chanukah at Village at the Peaks</a> – Sun 12/9 at 5:45pm
Chanukah on Pearl – Mon 12/3 at 5:30pm
<a href="https://www.boulderjcc.org/index.php?src=events&srctype=detail&category=Boulder%20JCC%20Events%20Calendar&refno=10620">Ignite Hanukah</a> – Wed 12/5 at 5:30pm
Markets & Holiday Shopping
Louisville Winter Market – Sat 12/8 at 10am
Denver Christkindl Market – Nov 16 – Dec 23
Union Station Holiday Market – Every Fri, Sat & Sun until 12/16
Georgetown Christmas Market – Dec 1-3 & 8-10
12th Annual BCFM Winter Market – Longmont – Sat 12/1 at 9am
Light Displays
<a href="https://www.denverzoo.org/events/zoolights/">Denver Zoo Lights</a> – Now through 1/6 5:30pm-8:30pm
<a href="https://www.botanicgardens.org/events/special-events/blossoms-light">Blossoms of Light at Denver Botanic Gardens</a> – Now thru 1/1 5:30pm-9pm
<a href="https://christmasincolor.net/?fbclid=IwAR12dZUFAwk2NAgYNHkK8v7cjbii4xSF6xnWqc0Z6K50Zu7etJ9ssx30qnc">Light Display at Water World</a> – Mon-Thu 5:30pm-10pm, Fri & Sat 5:30pm – 10pm
Outdoor Skating
Check out this comprehensive <a href="https://www.google.com/maps/d/u/0/viewer?mid=18kpvedPoyDVY_Abf3yYeXKeXLlCnWE9m&ll=39.63997666010884%2C-105.35923425553818&z=7">map</a> of outdoor rinks this season.2018-12-01T13:12:00-07:002019-05-01T17:35:28-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:32321st Ever Net Zero Energy Leasing in Boulder<img src="https://assets.site-static.com/userfiles/1323/image/NZELease.jpg" width="1000" height="667" />
Imagine working in an office-space where your monthly rent costs are dependent on the amount of electricity you consume from plug-type devices, the number of days you choose to drive to work versus take public transportation, and potentially how warm or cool you prefer your working space to be throughout the year. This situation is a reality if you work within the new zero net energy <a href="https://bouldercommons.com/sustainability/" target="_blank" rel="noopener">Boulder Commons development,</a> located just southeast of Valmont and 30th near the Steelyards. Boulder Commons consists of 100,000 square feet of commercial space, a restaurant and coffee shop spaces, and community gathering areas. It was developed by Morgan Creek Ventures and designed to be a<a href="https://www.wbdg.org/resources/net-zero-energy-buildings" target="_blank" rel="noopener">Net Zero Energy</a> (NZE) complex, which means the facility generates all of the energy that its tenants consume. Boulder Commons is outfit with photovoltaic cells for solar power, a responsive HVAC system based on individual units vs entire building, and advanced buildings materials that optimize insulation and reduce energy leakage. The parking garage is outfit with EV charging stations and spaces are allocated for tenants that utilize car shares and carpools. <br /><br />ZNE buildings are growing in popularity across the U.S. increasing 400% over the past five years from 99 total projects in 2012 to over 400 projects in 2017. The majority of these projects are owner-occupied. Tenant-occupied ZNE buildings have lagged in growth primarily due to the absence of lease precedents that create a win-win situation for both the landlord and the tenant. Colorado now has such a precedent as the state’s first NZE lease has been established between Boulder Commons and its first tenant, Rocky Mountain Institute (RMI). RMI is an internationally-recognized, non-profit environmental consultancy with 180 staff and annual operations of $42 million across five offices.<br /><br />When a tenant enters into a NZE-lease agreement, they agree to manage their power consumption to stay within a range that allows the building to provide 100% of the building’s entire energy demand. If the tenant exceeds a pre-defined consumption rate then they are required to pay more in rent to cover the purchase of offsite renewable energy generation through renewable energy certificates (RECs) (i.e. tradeable environmental commodities that represent a certain capacity of renewable energy generated by a source that is traceable, legit, and not previously claimed for its environmental benefits). RMI is an unusual tenant in that it dedicates time and resources towards analyzing how best to structure the lease with Boulder Commons and now provides a <a href="https://rmi.org/news/city-rockies-paves-way-net-zero-energy-leases/" target="_blank" rel="noopener">guide</a> for others to reference moving forward. <br /><br />NZE building development dovetails naturally with Boulder’s progressive climate action policies. In 2007, the city implemented the nation’s first voter-approved tax dedicated to addressing climate change (i.e. Boulder’s Climate Action Plan CAP). The tax is one component of the city’s overarching goal to reduce greenhouse gas emissions 80% of 2005 levels by the year 2050. In order to achieve an 80% reduction by 2050, analysts estimate that city-wide electricity consumption needs to decrease 25% by 2020 and 50% by 2030. The city’s climate action plan also aims to attain 100% renewably-sourced electricity by 2030 with at least 100 megawatts of the generation being provided locally. Expect to see more NZE building development in the years to come across the Front Range.2018-11-13T18:03:00-07:002019-05-01T17:36:09-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3218Market Data: Q3 2018Looking back on last quarter, we see fairly consistent appreciation trends, consistent inventory numbers, consistent “days on market” for homes that sold, and homes continue to sell for list price or slightly under. Home sales slowed towards the end of the quarter as is typical moving into the winter months.
<img src="https://assets.site-static.com/userfiles/1323/image/Q32018_BCRC_Stats.jpg" width="1056" height="816" />2018-10-16T11:42:00-07:002019-05-01T17:37:05-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3283Denver Among Top Cities for Women in the Tech Sector<img src="https://assets.site-static.com/userfiles/1323/image/woman-in-front-of-computer.jpg" width="640" height="457" />
According to study conducted by Smart Asset, analysts evaluated 59 U.S. cities and ranked them by value based on gender pay gap, income after housing costs, tech jobs filled by women, and four-year tech employment growth. Click <a href="https://smartasset.com/mortgage/best-cities-women-in-tech-2017" target="_blank">here</a> for the article.Denver was recently ranked #8 among the top 15 cities that provide the best working environment and compensation for women in computer and mathematical occupations. The tech industry in the Denver metro area is strong. The list of leading companies in the industry abound and include: Ball Aerospace, Covidien, Digital Globe, Emerson Micro Motion, Google, IBM, Level 3, Lockheed Martin, Log Rhythm, Northrup Grumman, Oracle, Qualcomm, Rally Software, Siemens, Sierra Nevada, Seagate, and Spectra Logic. 2018-10-02T17:55:00-07:002019-05-03T17:56:41-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3256Boulder County's Best Pumpkin Patches<img src="https://assets.site-static.com/userfiles/1323/image/lots-of-pumpkins.jpg" width="3024" height="4032" />
Get your pumpkin patch fix by visiting at least one of these wonderful farms located in our area.<br />
<a href="https://www.7thgenerationfarm.com/" target="_blank" rel="noopener">7th Generation Farm</a> – Louisville <br />Open daily through October – 9:30 am – dark<br />Enjoy wagon rides to the pumpkin patch, visit with the farm animals, paint a pumpkin, run in the corn maze, and purchase the farms locally raised eggs, meats, and other local products.
<a href="https://www.munsonfarms.com/" target="_blank" rel="noopener">Munson Farms</a> – Boulder<br />Open daily through November 1st – 9:00 am – 6:30 pm<br />Munson offers a great variety of heirloom squash including Cinderella Pumpkins, white, and greens varieties. Go to Munson for pumpkins only as they do not offer any other activities.
<a href="https://andersonfarms.com/" target="_blank" rel="noopener">Anderson Farms</a> – Erie<br />Open daily through November 2nd – Hours vary<br />Anderson Farms is the largest Fall Festival on the front range. Activities include hay wagon rides to the pumpkin patch, touring/feeding farm animals, pumpkin launching,gem stone mining, pumpkin painting, face painting, pony rides, rubber ducky races, live music, food vendors, playground, and 30 acres of corn mazes. Anderson Farms is open on select evenings for Zombie Paintball and Haunted Corn Maze fun.
<a href="https://redwagonfarmboulder.com/the-farm/pumpkin-patch/" target="_blank" rel="noopener">Red Wagon Farm</a> – Boulder <br />Open daily through October 31st – 10:00 am – 6:00 pm<br />Pick your own pumpkins, tour the straw bale maze, visits alpacas and llamas, take ahay ride.
<a href="https://cottonwoodfarms.com/" target="_blank" rel="noopener">Cottonwood Farm</a> – Boulder<br />Open daily through October 31 – 10:00 am – 6:00 pm<br />Cottonwood offers a pumpkin patch, corn maze, produce stand, hay rides, and a few animals to visit.
<a href="https://www.rockcreekfarm.com/" target="_blank" rel="noopener">Rock Creek Farm</a> – Broomfield<br />Open Daily through October 31st – 9:00 am – 6:00 pm<br />Rock Creek allows you to drive the perimeter of their 120-acre pumpkin patch to pick your own favorite gourd. Tour their 30-acre corn maze, visit farm animals, walk through the hay bale maze, and enjoy treats from their farm stand. Rock Creek also offers corn maze tours at night and they aren’t haunted.2018-09-21T20:01:00-07:002019-05-01T20:03:04-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3253Timing is Everything: 6 Fall Home Tips to Do Now<img src="https://assets.site-static.com/userfiles/1323/image/frozen-copper-pipe.jpg" width="500" height="334" />
The following suggestions will help you save time, money, and frustration this winter.The following suggestions will help you save time, money, and frustration this winter.<br /><br />1) Cover Outdoor Faucets – Add a $2 hose bib protector to all outdoor faucets to prevent cold air from reaching interior pipes. These inexpensive little things sell out in the winter so buy yours this weekend and get ‘em installed. Make sure your garden hoses are detached from all faucets. You’ve already blown out your sprinklers, right?!<br /><br />2) Buy Appliances – Do you need a new dishwasher or range? Sep-Dec is a prime time to score a deal as manufacturers are selling off this year’s models to make room for next year’s, which are released within the month of December. <br /><br />3) Trim Branches in Front of Windows – Allow as much natural light as possible to shine into your home. Trim back any large bushes and branches now to aid in passive solar heat transfer during colder months.<br /><br />4) Optimize Air Flow in the House – Did you know that the blades in most ceiling fans will rotate in both directions? Flip the switch so that blades circulate in a clockwise direction. Instead of pushing air down to cool, they will pull air up and help to distribute the heat in your home more efficiently.<br /><br />5) Wash Windows Now – We all love the Colorado sunshine. Let as much light as possible in this winter by cleaning your windows now. If you plan to do the work yourself then take advantage of warmish temperatures now. If you plan to use a professional then hire them soon as they can sometimes book out around the holidays.<br /><br />6) Clean Gutters – Remove leaves, needles, and dirt that may prevent water from draining dammed up water will freeze in colder temps and can lead to busted gutters, which in-turn lead to improper drainage around your home and a cascade of water-related problems that you don’t want to have to think about.<br /><br />7) Schedule a Furnace Tune-Up and Vacuum Those Vents – Don’t wait for your furnace to go down during the first snowstorm. Schedule an HVAC person to inspect the combustion chamber for corrosion, filters for replacement (you can do this yourself), and assess for system leaks. If you haven’t ever had your vents vacuumed then you may want to do this too. Dirt, animal dander, and construction debris (if your home is new or newly remodeled) settles in the ventilation and will begin recirculating once your heat kicks on.<br /><br />8) Insulate At-Risk Pipes – Is your plumbing older or improperly insulated? Evaluate problem pipes in unheated areas like garages, attics, and crawl spaces now and get them insulated with foam or heat tape, especially if you plan to travel over the winter and will leave your house cooler during your absence. We’ve all heard those stories…”We had just returned from Barbados (or other similarly sunny and wonderful location) and walked into 1 inch of standing water in our kitchen.”
2018-09-17T19:40:00-07:002019-05-01T19:42:24-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3284Colorado Ranks Among Top States for Retirees<img src="https://assets.site-static.com/userfiles/1323/image/elderly-couple-smiling.jpg" width="768" height="1024" />
Colorado recently ranked #17 among the best states in which to enjoy your retired years. Things like low crime-rate, weather, culture & social scene, low taxes, and quality of healthcare balance the relatively high cost of living to help our state shine. Read the article <a href="https://www.bankrate.com/retirement/states-ranked-from-first-to-worst-on-retirement-2/" target="_blank">here</a>. 2018-08-07T17:58:00-07:002019-05-03T17:59:35-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3229Top 10 Unique Road Races: Bolder Boulder is #2 <img src="https://assets.site-static.com/userfiles/1323/image/bolderboulder_races.jpg" width="5472" height="3648" />
We know many of you that participated in the Bolder Boulder this past Memorial Day and rocked it. Our region’s most beloved race was ranked the second best most unique race in the country by <a href="https://livability.com/topics/things-to-do/10-cities-that-host-unique-races-you-should-run-or-walk-in-your-lifetime?utm_campaign=coschedule&utm_source=facebook_page&utm_medium=Boulder%20Chamber">LIVABILITY.COM</a>. Check out the other nine most races from coast-to-coast including a 5K scramble up the 34 percent grand Mt Marathon in Seward, AK and the Krispy Kreme 5K Challenge in Raleigh, NC where runners are invited to chow down on donuts during the race.2018-07-25T16:47:00-07:002019-05-01T17:38:21-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:32262018 Mortgage Trends: A Continued Climb<img src="https://assets.site-static.com/userfiles/1323/image/house_small.jpg" width="271" height="181" style="font-size: 17px;" />
Economists continue to predict that the Federal Reserve will maintain its course of rate hikes. As predicted, the second hike of the year occurred this past June. The one surprise that emerged from the meeting was the indication that there may be two more hikes amounting to four total in 2018 as opposed to previous references to three in total. Expect the next hike in September or December. <br /><br />What does this mean for homeowners? Well, if you are considering buying then the sooner the better if you plan to finance your purchase. Rates are only predicted to climb throughout 2018. Presently, rates are at their highest since 2011. 30-Year fixed mortgage rates are averaged 0.75% higher than this time last year. This translates to roughly a $200 per month increase in one’s mortgage payment. In short, purchase power is decreasing. This is exacerbated by the continued trend of home values in our area.2018-07-20T16:18:00-07:002019-05-01T17:40:31-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3225Recovering from a Hailstorm<img src="https://assets.site-static.com/userfiles/1323/image/hail.jpg" width="500" height="334" style="font-size: 17px;" />
Have you been impacted from hail yet this season? Typically hail occurs between April and September in our region. The Denver Metro region is jokingly referred to as “hail alley” by some meteorologists as hail tends to fall within our area with the largest frequency in all of North America. Many of our clients were hit hard by the storm in June, which produced hail that was 3 inches in diameter and fell at speeds up to 80 miles per hour! While the storm was impressive in terms of hail stone size, it did not even touch the 4.5 inch diameter record in the books for a storm that occurred in 2011. According to the National Insurance Crime Bureau, Colorado holds the record for the second highest number of hail-related claims to Texas. This latest storm is estimated to amount to $300 million worth of insurance claims for damage. The area of destruction was concentrated in the Louisville/Superior area. Estimates of claim rank this storm as the eighth-most expensive storm in the state. Here are some considerations for those to consider who have been impacted:
Rising Costs of Premiums
Colorado ranks third in the nation for fastest rising homeowner premiums and third in the nation for fasting rising auto premiums. We heard reports of deductibles immediately being raised following the storm for new applicants. Other insurance companies are offering alternatives to avoid raising costs across the board like offering a separate wind-hail deductible option.
Avoid Roofing Scams
The BBB has formed a movement to fight roofing contractor fraud, called <a href="https://www.bbb.org/denver/hail?utm_source=Last+Week%27s+Northern+Colorado+and+Denver-Metro+Area+Hailstorms+Carry+%24276.4+Mill&utm_campaign=Insurance+News%3A+Last+Week%C3%A2%C2%80%C2%99s+Northern+Colorado+and+Denver-Metro+Area+Hailstorms+Carry+%24276.4+Million+Insurance+Price+Tag&utm_medium=email" target="_blank" rel="noopener">No Roof Scams</a>. The site has some useful resources including an interactive Scam Tracker map. In general, get more than one estimate, do your due diligence on the roofing companies in terms of online reviews/licensing/BBB rating, get everything in writing, ensure the contract is solid including a “right to rescind” if your insurance claim is denied, confirm whether the company performs the work themselves or use 3rd party contractors, and never pay in advance or provide down payment. Also, when establishing the terms of your homeowner's insurance, make sure you opt for “replacement cost value” versus “actual cost value” – the latter of which deduct depreciated value of your roof from the total payout. <br />
Damage to Vehicles
Car insurance policies only cover hail damage if you have comprehensive coverage. A representative from the insurance company or an auto body repair shop will inspect your vehicle(s) and determine whether the car requires repair or replacement. Check with your insurance provider about the necessary steps before proceeding. Are you considering buying a hail-damaged vehicle? Consider the following:
Have an automotive technician inspect the vehicle to ensure that the damage is just cosmetic and not so extensive that it affects window seals, etc.
Talk with your insurance company to understand if you will be able to fully insure the car with “comprehensive” coverage. Some companies will not offer this option to protect themselves from individuals who dishonestly try to file claims for repair from previous storms.
Check the Carfax before negotiating the price for the vehicle to see if any hail-related claims were filed. This will reduce the value of the car and such a record may impact your ability to sell the vehicle later so don’t overpay now!
Check with your lender first, if you choose to finance your purchase, to ensure they will lend on a hail-damaged vehicle.
Necessary disclosure: we are not insurance professionals so please consult the necessary professional for advice and further guidance.
2018-07-20T16:05:00-07:002019-05-01T17:41:16-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3228Boulder County Market Data Q2 2018<img src="https://assets.site-static.com/userfiles/1323/image/Stats_on-phone-small.jpg" width="200" height="134" />
Looking back on the second quarter of 2018, we see that inventory was lower than last year in most areas of Boulder County. Overall, sale prices were higher than last year this time, “days on market” were less, and homes were selling for list price. <br />
<img src="https://assets.site-static.com/userfiles/1323/image/Q2-2018-stats_image.JPG" width="967" height="519" />2018-07-16T16:35:00-07:002019-05-01T18:19:35-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3287DIY Staging Tips: Ideas for Every Room<img src="https://assets.site-static.com/userfiles/1323/image/table-with-flowers-and-dinnerware.jpg" width="640" height="425" />
“You never get a second chance to make a first impression.” - Will Rogers
Our regional market is hot right now. Multiple offers and bidding wars are not uncommon in this Seller’s market. Do you want to maximize the profit from the sale of your home and entertain multiple full-price or over-asking offers? Then set yourself up for success by taking the time to spruce up your home so that every buyer that walks through it wants to call it “home.”
Some folks assume that their home will “sell itself” in these market conditions without fixing or addressing functional and/or cosmetic issues. We respond by saying, “Yes, your home will sell but will it sell for the price you expect?” Trust us, it is worth spending the time to give your home the attention it deserves to make a great first impression. Follow these tips & techniques to get started:
Inside<br />
Clear the Clutter – some buyers have a hard time seeing past clutter. Give them the opportunity to envision themselves living in the home by getting rid of piles of unread magazines and a refrigerator covered in your favorite magnets. Family photos, diplomas, kid’s art work, etc. should be packed away now to get a jump start on moving as well as to avoid distracting buyers when they walk through. Make the process more manageable by tackling one room at a time. If time allows, maybe tackle one room per weekend to make progress while not feeling overwhelmed. Do you have a hard time letting go of things? We recommend reading <a href="https://www.amazon.com/Life-Changing-Magic-Tidying-Decluttering-Organizing/dp/1607747308" target="_blank">The Life Changing Magic of Tidying Up</a> by Marie Kondo to get you started.<br /><br />
Deep Clean – take the time to clean areas that are often overlooked during routine cleaning like baseboards, windowsills, blinds, light switch panels, light fixtures, etc. Dirty fingerprints, cobwebs, and dead flies are real turnoffs.<br /><br />
Repair – repairs should be categorized as either functional or cosmetic. Go through your list of each and prioritize the importance of addressing each item. We can help you decided what to address. There may be some big ticket items that require the help of a contractor or prior planning to resolve. Other things like a leaky faucet, burned out light bulbs, and broken blinds can be addressed fairly easily. We created a thorough checklist to use for this purpose. <a href="mailto:kirk@bouldercountyrealty.com">Email us</a> for a copy.
DIY Staging – follow these tips to really make your home shine…
Living Room <br />
Practice the 'rule of symmetry' when rearranging side tables, lamps, pillows, etc.
Practice the “rule of three” with wall hangings and tabletop accessories. Three objects create a more appealing visual experience as the human eye involuntarily works harder when viewing odd vs even groupings.
Add table lamps to either side of the couch to make the room feel cozy.
Clean the fireplace (if wood-burning) by removing soot and replacing the screen.
Err on the side of neutral colors when replacing any furniture or rugs and opt for bright or accent colors for pillows, blankets, & accessories.
Turn light classical or acoustic music on using your TV or Sonos.
Kitchen
Clear all countertops of appliances, cups holding pens, mail, etc.
Set out a few decorative items such as a bowl full of lemons, a vase of flowers, etc.
Get a jump-start on moving by packing up all but one set of dishware. Rid your pantry of half-empty chip bags and cereal boxes. This makes your cabinets looks more spacious and less cluttered.
Sprinkle cinnamon on a baking sheet and bake for 15 min at 350 to freshen up the space.
Get rid of fridge magnets.
Move your trash cans out of sight.
Bedrooms
Stay gender neutral in each bedroom by painting over bright colors in the kiddos rooms with light, neutral tones.
Give the room a new look by using new, coordinated bedding & pillows that you bought for your new home for the purpose of staging now.
Pack up and store away all of your clothes except for those that you wear this season to make your closets look more spacious.<br />
Dining Room
Set the table with interesting plates, cloth napkins, and a set of wine or margarita glasses to encourage buyers to picture themselves entertaining in your home.
Consider an area rug underneath the table to define the space.
Remove and store extra dining room chairs that are normally stored around the periphery.<br />
Bathrooms<br />
Eliminate soap scum on glass shower doors using a 1:1 ratio of Dawn dish soap to white vinegar. Let the mixture sit for at least 20 minutes and rinse.
Consider replacing the grout in your shower if pieces are missing or have extensive mildew.
Strip and re-caulk around the tub or floor if pieces are missing or have extensive mildew.
Replace the shower curtain with a white one.
Add simple accents that evoke a spa-like feeling: a nice soap dispenser, a potted orchid, a basket with white towels, a new white bath mat, one or two white robes hanging on hooks.
Replace mismatched bath and hand towels with a matching set in an appealing color.
Outside
Clean up the yard – clear the yard of fallen branches, dead leaves, and dead perennial foliage. Neatly stack firewood. Remove unused trash cans, tools, and other clunky-looking belongings to help your yard appear more as a “fun, relaxing” and less of a “random storage” space. Hide trash cans and recycle bins.
Add new mulch – add a fresh layer of dark brown mulch in garden beds and around trees to instantly upgrade the look of your yard, even in the winter.
Pressure wash - your home’s siding, deck, front porch, driveway, and walkways.
Paint – any surface that is fading, chipping, or in general need of attention. A fresh coat of paint on your home’s trim or front porch makes a big impact.
Hang new house numbers – Choose large, attractive numbers and hang them in a spot that is visible from the street.
Clean outdoor lights – Clear the cobwebs and dead bugs from inside the lamp glass. Replace white fluorescent bulbs that do not fit with warmer, well-fitting bulbs.
Replace doormat – Make buyers feel welcome as soon as they approach your home with a clean, new doormat.
Locks and doorbell – Ensure the lock turns easily and the doorbell works. If the doorbell button is cracked then replace it.
Mailbox – Clean, paint, or replace your mailbox if it looks old.
We're always excited to see what changes our sellers decide to make to their homes prior to selling. We're also happy to lend our advice. Give us a call with questions if they pop-up (720) 339-1500. We've been known to help spread mulch and are pretty good with a paint roller if you find yourself in need of help ;) 2018-05-17T18:22:00-07:002019-05-03T18:23:46-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3235Is Boulder's Affordable Housing Fund in Jeopardy?<img src="https://assets.site-static.com/userfiles/1323/image/AffordableHousing.jpg" width="500" height="393" />
Commercial Construction may not “pencil-out” for many developers following a city council vote last month in favor of raising a mandatory cost of developing in the city 150% from $12 per square foot to<a title="Boulder Affordable Housing" href="https://www.rockymountainrealestatelaw.com/2018/03/boulder-county-municipalities-look-to-double-affordable-housing-linkage-fees/" target="_blank" rel="noopener">$30 per square foot</a>, which is second in the nation to Palo Alto, CA at $35 per square foot. The one-time fee is known as the “affordable housing linkage fee” and funds affordable housing development and programs. This is a hotly contested issue as city council was split 6-3 in favor of the increase. The also has tiers for example service facilities like hospitals are required to pay $20 per square foot and warehouse facilities are required to pay the minimum rate of $10 per square foot.
Stakeholders are divided. Opponents argue that the effects of the November 2016 rate hike from $9.53 per square foot to $12 per square foot have not had time to take effect and increasing the rate to $30 per square foot would stifle commercial development and exacerbate the city’s current $4 million budget shortfall due to already low sales tax revenue. Lack of commercial development would strangle contributions to affordable housing programs. They advocate for re-zoning of areas from commercial or industrial to residential versus raising development costs. Supporters of the rate hike argue that such a drastic increase in the fee is necessary to incentivize housing development over commercial development in an effort to alleviate the city’s jobs/housing imbalance. Following the vote, city council members in favor of the rate hike cited that now commercial developers will now be charged at a level that is similar to the sum of fees that residential developers pay. Currently, the city’s affordable housing fund is $1.7 million. To put things in perspective, the construction of a new 10,000 per square foot office building would contribute $300,000 to the fund while a property on the scale of the new 200,000 per square foot Google campus on Pearl St would contribute $6,000,000.2018-05-07T17:58:00-07:002019-05-01T18:01:15-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3234Our Ultimate Summer Vacation List for 2018<img src="https://assets.site-static.com/userfiles/1323/image/UniqueVacationIdeas.jpg" width="5184" height="3456" />
We all enjoy vacation. Why not try something different this year? We’ve compiled a list of interest-specific options for you below. Tell us where you go!
For Beach Combers<br /><br />Looking for a list of the best beach vacations around the world that won’t cost you an arm and a leg? <a href="https://travelbird.nl/beach-price-index/" target="_blank" rel="noopener">TravelBird</a> compared 310 locations and ranked them according to their Beach Price Index. Check out their list of the top 15 excellent options <a href="https://www.thrillist.com/travel/nation/best-cheap-beach-vacations" target="_blank" rel="noopener">here</a>, which include undiscovered beaches in Cancun, pristine reef systems in Cuba, and a turtle-nesting hotspot in Costa Rica. Do you want to bring your dogs along? Then check out these stateside <a href="https://vacationidea.com/beaches/dog-friendly-beaches.html" target="_blank" rel="noopener">options </a>when traveling with your dogs.
For Cyclists
Are you interested in spending much of your next vacation in the saddle…on your bike? Bicycling.com compiled a list of amazing adventures <a href="https://www.bicycling.com/rides/adventure/the-worlds-coolest-bike-tours/slide/10" target="_blank" rel="noopener">here</a> including island hopping in Croatia, brewery ride tours in Belgium, and a 45-day tour which starts in Venice and ends in Greece. Check out the Slovenia tour too – we’ve been to this beautiful country a few times and are blown away by the turquoise colors of the lakes and the gorgeous mountain scenery.<br /><br />For Naturalists<br /><br />Sign us up for every trip on <a href="https://www.nationalgeographic.com/travel/features/best-trips-2017/#nature" target="_blank" rel="noopener">National Geographic’s Best Nature Trips for 2017</a>. From the cloud forests of Ecuador to the hot springs/camping options in the Canadian Rockies – each trip looks like it would be once in a lifetime.<br /><br />For Foodies<br /><br />We all need to eat! So, why not schedule a food tour during your next vacation? The travel desk at U.S. News released its <a href="https://travel.usnews.com/gallery/the-15-best-foodie-tours-in-the-usa" target="_blank" rel="noopener">Top 15 Foodie Tours in the U.S.</a> and there are some real gems here including a walking tour in Savannah, Georgia to sample southern specialties, a bussed tour of the best food trucks in Austin, Texas, and a bike tour of Portland’s best farmer’s markets and farm-to-table restaurants. Some of the world’s top foodie destinations are captured and blogged about <a href="https://www.savoredjourneys.com/worlds-best-foodie-vacations/" target="_blank" rel="noopener">here</a> on the Savored Journeys blog. The blog is authored by a married couple who provide specific restaurant recommendations and tips from their global jaunts.<br /><br />For Train Enthusiasts<br /><br />All aboard! Wired shares their Top 7 Best Train trips in the World <a href="https://www.wired.com/2015/12/the-7-best-train-trips-in-the-world/" target="_blank" rel="noopener">here</a> including week-long rail tours in the Canadian Rockies, day tours in Peru that climb the Inca Trail to Machu Picchu, and routes in the Scottish Highlands that stop at castles and golf courses.<br /><br />For Spa-Goers<br /><br />Town & Country compiled their list of <a href="https://www.townandcountrymag.com/leisure/travel-guide/g13797039/best-luxury-spas-in-the-world/" target="_blank" rel="noopener">Top Luxury Spa Vacations in 2017</a> including a trekking-focused spa in Nepal and spa/safari combo adventure in Indonesia. Here is a great<a href="https://www.townandcountrymag.com/leisure/travel-guide/g3185/best-destination-spas/?slide=1" target="_blank" rel="noopener">list of options</a> that are exclusively stateside including paddle-boarding and yoga on the lake at the Lake Austin Spa Resort and hiking or biking through Boynton Canyon’s red rock vortexes at the Mii Amo resort in Sedona, Arizona.2018-05-01T17:54:00-07:002019-05-01T17:56:04-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3230Boulder County Market Data Q1 2018<img src="https://assets.site-static.com/userfiles/1323/image/Stats_on-phone-small.jpg" width="200" height="134" />
Looking back on the first quarter of 2018, we see that inventory was super tight. Homes listed early in the quarter benefited from establishing price levels in the New Year however they also risked pushback from buyers (and appraisers). Fortunately, our clients who have sold thus far have fared well.
Overall, sale prices are higher than last year this time, “days on market” are less, and inventory is significantly lower. We have observed a number of listings in various communities reduce their list price recently. This can happen when sellers set their list price at or above the level of the highest neighborhood sale while disregarding the advantages of setting a healthy price that attracts multiple buyers.
Additionally, buyers expect that high prices should correlate with turn-key homes, meaning that the home is immaculate and shows no signs of deferred maintenance. Side note: hopefully our seemingly nit-picky “to-do” list ahead of listing now makes sense! Also, remember that if the thought of preparing your home for sale is daunting, we've got a list of options available to you as a seller to help your home shine including professional window cleaning, staging, and a list of trusted contractors that can knock out those 'to-do' items for you.
<img src="https://assets.site-static.com/userfiles/1323/image/Stats_Q1-2018.JPG" width="810" height="440" />2018-04-19T16:52:00-07:002019-05-01T18:19:55-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3236Monthly Boulder County Real Estate Statistics: March 2018Stay up-to-date by reviewing last month's market activity with the <a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Mar.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Mar.pdf">March 2018 report</a>.
<a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Mar.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Mar.pdf"><img src="https://assets.site-static.com/userfiles/1323/image/BCStats_Mar_Image.JPG" width="617" height="798" /></a>2018-04-18T18:02:00-07:002019-05-01T18:20:16-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3117Will Increasing Mortgage Rates Impact Home Prices?<img src="https://assets.site-static.com/userfiles/1323/image/mortgage-rate-projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2018-03-20T15:52:00-07:002019-11-23T23:45:47-07:00Kirk Wittigtag:advancedhomegroup.com,2012-09-20:3239Federal Tax Law Changes: Summary for HomeownersWe’ve had a number of buyers and sellers ask us how they will be affected by the tax reforms. As real estate professionals, we are not able to provide clients with tax or investment advice. Thus, the information provided below should not be used for these purposes. Please consult your tax advisor. The following is a summary of information gleaned from various publically available resources.
Congress approved significant tax reforms on December 22, 2017 as part of the Tax Cuts and Jobs Act (TCJA). You can read the full regulation text <a title="TCJS Regulation" href="https://www.congress.gov/bill/115th-congress/house-bill/1/text" target="_blank" rel="noopener">here</a>. The IRS continues to provide clarifying memorandums on aspects of the regulation <a title="IRS Memos and Updates" href="https://www.irs.gov/newsroom/tax-reform" target="_blank" rel="noopener">here</a>. The regulation applies to taxable years between 2018 through 2025 and affects corporate and individual tax structures.
The regulation provides for a reduction in income taxes, doubles the standard deduction, eliminates personal exemptions, limits property tax deductions, caps mortgage interest deductions, and increase the estate tax exemption value. We provide a summary of the changes related to solely to homeownership below. You can find an overview of all of the individual tax reforms that were enacted, related to homeownership and beyond, in this <a href="https://taxfoundation.org/conference-report-tax-cuts-and-jobs-act/" target="_blank" rel="noopener">article</a> and this <a href="https://www.thebalance.com/trump-s-tax-plan-how-it-affects-you-4113968" target="_blank" rel="noopener">article</a>.
Key Elements of the Tax Reform Act Related to Homeownership
Standard Deduction: The standard deduction has increased to $12,000 for single filers and $24,000 for joint filers. This equates to a portion of the population no longer needing to itemize deductions.
Deduction of Mortgage Interest: A new limit or cap is placed on the amount of mortgage debt that can be deducted. Interest can now be deducted for up to the first $750,000 of the loan. The previous cap was $1,000,000. This change affects loans issued after December 15, 2017. Note that folks can refinance mortgage debts that existed before Dec 15th and deduct interest on loan amounts up to the previous $1,000,000 cap under the condition that the new loan does not exceed the amount refinanced.
Deduction of Home Equity Loans and Lines of Credit Interest: Interest on these loan instruments can no longer be deducted when funds are utilized for purposes other than home improvement. Previously, any and all interest on home equity loans or lines of credit, up to $100,000 in loan amount, was eligible. The IRS provides clarity on the caveats around the deduction requirements <a href="https://www.irs.gov/newsroom/interest-on-home-equity-loans-often-still-deductible-under-new-law">here</a>. Basically, if HELOC funds are used to build or substantially improve the home then interest may be deducted.
Taxes (both State and Local): There is now a $10,000 cap on the maximum amount of state and local tax that can be deducted. Filers can claim a combination of property tax plus either income or sales tax (same as before) up to the $10,000 amount (this is the new part).
Estate Tax Exemption: The tax exemption on estate value was doubled in 2018 from previous the value of $5.6 million to $11.2 million and will continue to be adjusted for inflation albeit using the new “chained CPI” or C-CPI rate table.
Moving Expenses: Folks can no longer deduct moving expenses unless they are members of the military.
2018-03-14T18:51:00-07:002019-05-01T18:52:27-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3237Monthly Boulder County Real Estate Statistics: February 2018Stay up-to-date by reviewing last month's market activity with the <a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Feb.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Feb.pdf">February 2018 report.</a>
<a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Feb.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Feb.pdf"><img src="https://assets.site-static.com/userfiles/1323/image/BCStats_Feb_Image.JPG" width="468" height="596" /></a>
<a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyStats_Feb.pdf"> </a>2018-03-14T18:21:00-07:002019-05-01T18:35:05-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:3245Monthly Boulder County Real Estate Statistics: January 2018<a href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyMonthlyStats_Jan2018.pdf" mce_href="https://assets.site-static.com/userfiles/1323/file/BoulderCountyMonthlyStats_Jan2018.pdf"><img src="https://assets.site-static.com/userfiles/1323/image/MonthlyStats_BoulderCounty_Jan2018IMAGE.JPG" width="574" height="749" /></a>2018-02-22T20:02:00-07:002019-05-01T19:06:36-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:32442017 Real Estate Market Overview: Longmont, Colorado<img src="https://assets.site-static.com/userfiles/1323/image/Longmont_New.png" width="1600" height="3708" />2018-01-30T20:01:00-07:002019-05-01T19:01:15-07:00Lauren Wittigtag:advancedhomegroup.com,2012-09-20:32432017 Real Estate Market Overview: Superior, Colorado<img src="https://assets.site-static.com/userfiles/1323/image/Superior_New.png" width="1600" height="3708" />2018-01-29T19:59:00-07:002019-05-01T19:00:07-07:00Lauren Wittig