Take a look at this short video if you are a seller. Will certainly help!
After a snowfall that I am sure not everyone expected you may end up with branches from broken trees. Luckily the city will be able to help with removing that. Follow this link for more info. It seems like many times the word does not get out to everyone about this kind of thing so I thought I’d forward this along to everyone who lives in Longmont. Especially because there are SOOOOOO many branches down! What a storm, eh?
If you don’t already know this, you can sign up for the City’s e-alert system and you will automatically get this type of news. (http://www.ci.longmont.co.us/selectalert/index.htm)
Hope you all are staying warm!
Longmont’s largest snowfalls since 1990:
23.7 inches Dec. 20-21, 2006
21 inches Mar.8-9, 1992
17 inches Oct. 24-25, 1997
14.5 inches Mar. 18-19, 2003
13.5 inches Nov. 20-21,23; 1992
12.4 inches Oct. 27-29, 2009
12 inches Nov. 13-14, 1994
11.8 inches Apr. 10, 2005
11.5 inches Oct. 25-26, 2011
11.1 inches Mar. 26-27, 2009
– Courtesy Dave Larison
This is a question that we often hear. The summer season is approaching and the local real estate market is picking up. Home sales have increased every month in 2011 in Boulder County and unlike last year there is no tax credit supporting the sales growth we are experiencing. Additionally, Boulder and Broomfield counties boast the lowest foreclosure rates in Colorado, while Boulder and Fort Collins/Loveland have the lowest unemployment rates in the state. What does this mean? Our local market is among the strongest in Colorado and even the U.S..
Foreclosures in Colorado have fallen to their lowest levels since the third quarter of 2008 and have fallen nearly 35 percent below 2009′s third-quarter total when filings peaked at more than 12,000, the state of Colorado Division of Housing said today.
New foreclosure filings fell to 8,115 in Colorado during 2011′s first quarter, falling 27 percent from 2010′s first-quarter total of 11,136.
According to the report released Thursday by the division, foreclosure sales at auction, the event that completes the foreclosure process, also dropped during the first quarter, falling 16 percent from 6,686 to 5,606, year-over-year, for the first quarter.
“Mortgage services and lenders continue to process foreclosures at an unusually slow rate, and although we expected foreclosure activity to drop in the first quarter, it fell more than expected,” said Ryan McMaken, Division of Housing spokesman. ”
Our agents have access to the Foreclosed homes in your area, so give us a call today and let’s find your next home or investment property!
If you’re like most of American’s right now you’re watching your pennies closely and always looking for the best deal you can find. For some people this means buying a foreclosed home. While there are excellent deals out there, it’s very important to make sure you’re not purchasing a nightmare that you’ll regret ever laying eyes on. Here are a few tips to remember that will help you avoid a potential catastrophe:
1. You MUST, MUST, MUST get a recent inspection by a reliable home inspector. If you’re financing your purchase this is almost always a condition of your loan approval anyway. However, if you’re looking at paying cash for your foreclosure, DON’T skip this step. Even if it’s already been inspected, do it again! Homes can deteriorate very rapidly when they are empty and not taken care of. Pipes freeze, pests invade, vandalism occurs… Do your homework. Money spent on an inspection could save you literally thousands and thousands of dollars in the long run.
2. While its imperative you have the home inspected to arm yourself with all the information you can about the home itself, it’s just as important to look around the home at its neighborhood. Use your common sense and ask yourself some questions. Why was the home foreclosed? Don’t assume that it was because of the previous owners financial issues. Are there a large number of foreclosures in that neighborhood? Are the school districts viewed as less than stellar? Is there an unreasonable HOA involved? Is the crime rate higher in that neighborhood or is the neighborhood near an area with a high crime rate? Your Realtor can help you with this research. Essentially you want to investigate what may have made that home unappealing to buyers when it was listed prior to foreclosure. The last thing you want to do is buy a home that you won’t ever be able to re-sell because of an issue that is out of your control.
3. Flipping… be cautious. If you’re thinking of flipping the house, that is, buying it, doing some renovating or repairs, and then selling it for a potential profit, you may want to think again. Unless you are very sure of yourself and have a VERY trustworthy contractor you’re likely setting yourself up for failure. Historically speaking, folks who aren’t very adept at flipping have spent upwards of three times the amount of money they thought they would getting the home ready to sell again. This pretty much eats away at any bargain you may have gained when you bought the home.
4. Foreclosures are owned by BANKS. You will be negotiating with an entity, not a person. You are on their terms, their timeline, and at the mercy of their bad moods. You won’t be dealing with a seller who cares about their home and finances. Banks often don’t really care about you or the home they now own. They won’t fix anything and they are often times under-motivated to get the transaction closed. Be prepared to follow their rules and jump through their hoops.
Foreclosures can be a great investment if you find the right one. As Realtors we can help you avoid mistakes that could ruin your good fortune. Call us and we’ll talk. We are here to help!
Credit to Mandy Wormke, Keller Williams 1st Realty