Wednesday, December 21, 2011
Owning a Home is Less Expensive Than Renting
Owning a Home is Less Expensive Than Renting: Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.
Foreclosures Drop in Denver Metro Area
Foreclosures Drop in Denver Metro Area: Foreclosure filings and sales continue to drop in the Denver metro area, including Boulder and Broomfield counties, according to the latest report from the Colorado Division of Housing.
Existing Home Sales Edge Higher in October: Homebuyers scooped up more previously owned homes in October, slowly putting a dent in the huge inventory on the market, an industry report showed Monday. Sales of existing homes rose 1.4% last month to an annual rate of 4.97 million homes, up from a downwardly revised 4.90 million homes in September, the National Association of Realtors reported November 21st.
Existing Home Sales Edge Higher in October: Homebuyers scooped up more previously owned homes in October, slowly putting a dent in the huge inventory on the market, an industry report showed Monday. Sales of existing homes rose 1.4% last month to an annual rate of 4.97 million homes, up from a downwardly revised 4.90 million homes in September, the National Association of Realtors reported November 21st.
Forbes Rates Colorado 5th-Best State for Business
Forbes Rates Colorado 5th-Best State for Business: Colorado ranks as the nation's fifth-best state for business and careers in the latest annual report by Forbes, posted Tuesday, December 20th.
Colorado Unemployment Drops 8.1%
Colorado Unemployment Drops to 8.1%; Jobs up 8,800: Colorado's unemployment rate dropped again in October, to 8.1 percent, the lowest rate in more than 2-1/2 years, as the state added 8,800 nonfarm payroll jobs, the highest monthly gain since early 2007, the Colorado Department of Labor and Employment reported Tuesday.
Colorado Small-Business Jobs up 0.5% in November: Employment by Colorado small businesses grew 0.5 percent in November from the previous month, according to a report November 29th from Intuit Inc.
Forbes Rates Colorado 5th-Best State for Business: Colorado ranks as the nation's fifth-best state for business and careers in the latest annual report by Forbes, posted Tuesday.
Colorado Small-Business Jobs up 0.5% in November: Employment by Colorado small businesses grew 0.5 percent in November from the previous month, according to a report November 29th from Intuit Inc.
Forbes Rates Colorado 5th-Best State for Business: Colorado ranks as the nation's fifth-best state for business and careers in the latest annual report by Forbes, posted Tuesday.
Tuesday, December 20, 2011
Lighthouse Wrapped In Ice for the Holidays!
I thought this was befitting for the holidays!
Lighthouse Wrapped for the Holidays
from www.NationalGeographic.org
Photograph by Mark Duncan, AP
It's not a wedding cake, an ice sculpture, an ice hotel or Snow Miser's palace—just a lighthouse at the entrance to Cleveland Harbor in Ohio, as seen enrobed in ice on December 16 (Cleveland map).
Spray from Lake Erie and below-freezing temperatures turned Cleveland's West Pierhead Lighthouse into a Popsicle last week, leaving the Coast Guard to worry that any stubborn skippers braving the lake this time of year would miss the shoreline. The light's lens, as well as the rest of the building, is completely iced over—and will be for months.
Mariners have been issued warnings to exercise extra caution around the harbor entrance, though most boat traffic has already stopped for the season, said Petty Officer 3rd Class George Degener, who serves with the U.S. Coast Guard's Cleveland-based Ninth Division.
On the bright side: There's no lighthouse keeper shivering inside the icy tower. The facility has been automated for decades.
If you're looking to check out some local ice castles, visit the Silverthorne, CO ice castles...
Silverthorne Ice Castles Article from www.Silverthorne.org
Experience a glacial adventure unlike anything you have ever seen before, right here in Silverthorne! The Ice Castles at Silverthorne opened for business on Friday, December 9, and anticipate to remain open until April 2012.
Ice Castles are one-of-a-kind formations that can reach up to 50 feet high and weigh over 10,000 tons. These creations of walkways, illuminated ice formations, tunnels and arches are all made entirely out of ice and are naturally shaped by gravity and freezing water. Every day at the Ice Castles is unique and different as the ice formations are constantly evolving, depending on the amount of water added at night, the night time temperature and snowfall. For a completely different experience, visit the Ice Castles in the evening, when they are illuminated by lighting, frozen right into the structures!
The Ice Castles’ hours of operation are: Weekdays - noon to 9pm, Saturdays - 10am to 10pm and Sundays 11am-7pm (weather permitting). Tickets can be purchased at the on-site ticket office at 400 Blue River Parkway, Silverthorne. Tickets are $10 for adults and $7.50 for children. Kids under the age of 5 are free. Adult and family season passes are also available for purchase. Check out Ice Castles website at www.icecastles.com for more information.
About the Artist: After moving his family from California to Utah in 2002, Brent Christensen was searching for new outdoor winter activities for his children. One year he created an ice skating rink in the backyard. Then one year created various formations of icicles. Another year he started experimenting with icicles to create an ice castle in his front yard. His children loved a castle he built that had a cave, tunnels, and a huge slide with a bank turn on to an ice skating rink. People began driving by the Christensen’s home just to see the unique ice structure in the front yard. The following winter, a Utah resort asked Brent if he would build a larger ice castle on the front lawn of the resort. Brent built the castle in 2009-10 and in two months the word had spread and about 10,000 people had come to see the “Ice Castle” at the Zermatt Resort. The following winter (2010-11) he built another castle in the Town square in Midway, Utah which is about 15 minutes from Park Town. Over 25,000 visitors came to see the ice castles last winter. In the summer of 2011, Brent began looking for a new location for his creation, and chose Silverthorne as a perfect location to create his 2011-12 ice castle masterpiece.
Monday, December 19, 2011
Before You Buy a Home - Look at Eight Reasons to Buy a Home
Before You Buy a Home - Look at Eight Reasons to Buy a Home
www.about.com
If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are eight good reasons why you should buy a home.
Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.
Appreciation
Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. Its House Price Index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation.
Mortgage Interest Deductions
Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.
Property Tax Deductions
IRS Publication 530 contains tax information for first-time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. In California, the passage of Proposition 13 in 1978 established the amount of assessed value after property changes hands and limited property tax increases to 2% per year or the rate of inflation, whichever is less.
Capital Gain Exclusion
As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the "over-55" rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation.
Preferential Tax Treatment
If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment.
Morgage Reduction Builds Equity
Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500.
Equity Loans
Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. Equity loan interest is often much less and it is deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home's equity for a variety of reasons such as home improvement, college, medical or starting a new business. Some state laws restrict home equity loans.
www.about.com
If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are eight good reasons why you should buy a home.
Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.
Appreciation
Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. Its House Price Index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation.
Mortgage Interest Deductions
Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.
Property Tax Deductions
IRS Publication 530 contains tax information for first-time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. In California, the passage of Proposition 13 in 1978 established the amount of assessed value after property changes hands and limited property tax increases to 2% per year or the rate of inflation, whichever is less.
Capital Gain Exclusion
As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the "over-55" rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation.
Preferential Tax Treatment
If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment.
Morgage Reduction Builds Equity
Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500.
Equity Loans
Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. Equity loan interest is often much less and it is deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home's equity for a variety of reasons such as home improvement, college, medical or starting a new business. Some state laws restrict home equity loans.
6 Tips To Sell Your Home Faster
6 Tips To Sell Your Home Faster
www.investopedia.com
In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home's attractiveness besides lowering the asking price. If you're looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.
Tutorial: Exploring Real Estate Investing
1. Differentiate From the Neighbors
In order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high grade windows or a new roof. This can help improve the home's aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that will appeal to the widest audience. In addition, they should compliment the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.
However, while it can pay to spice up your home, don't over-improve it. According to a 2006 article in Realtor Magazine, some renovations, such as adding a bathroom or a sun room, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom addition is about 75%. For a sun room, it's even less. If you're going to invest in renovations, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home's listing information. More than ever, in a down market you should take every small edge you can get. (For more insight, see Fix It And Flip It: The Value of Remodeling.)
2. Clean the Clutter
It is imperative to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space. Staging costs can range from a couple hundred dollars for a basic consultation to several thousand dollars, particularly if you rent modern, neutral furniture for showing your home. Many people feel that stagers can make a home more salable, so hiring one deserves some consideration. (For more insight, see Staging Your Home For A Quick Sale.)
3. Sweeten the Deal
Another way to make the home and deal more attractive to buyers is to offer things or terms that might sweeten the pot. For example, sellers that offer the buyer a couple of thousand dollars credit toward closing costs, or offer to pay closing costs entirely will in some cases receive more attention from house hunters looking at similar homes. In a down market, buyers are looking for a deal, so do your best to make them feel they're getting one.
4. Another tip is to offer a transferable home warranty, which can cost $300 to $400for a one-year policy and will cover appliances, such as air conditioners and refrigerators, that fail. Depending on the policy, other appliances and house gadgets may be covered as well. A potential buyer may feel more at ease knowing that he or she will be covered against such problems, which could make your home more attractive than a competing home.
Finally, it's important to note that some buyers are motivated by the option to close in a short amount of time. If it is possible for you to close on the home within 30 to 60 days, this may set your deal apart and get you a contract.
5. Improve Curb Appeal
Sellers often overlook the importance of their home's curb appeal. The first thing a buyer sees is a home's external appearance and the way it fits into the surrounding neighborhood. Try to make certain that the exterior has a fresh coat of paint, and that the bushes and lawn are well manicured. In real estate, appearances mean a lot. What better way to set your home apart than to make it attractive at first glance?
Get Your Home in "Move In" Condition
Aesthetics are important, but it's also important that doors, appliances and electrical and plumbing fixtures be in compliance with current building codes and in working order. Again, the idea is to have the home in move in condition and to give potential buyers the impression that they will be able to move right in and start enjoying their new home, rather than spending time and money fixing it up.
6. Pricing It Right
Regardless of how well you renovate and stage your home, it is still important to price the home appropriately. Consult a local real estate agent, read the newspapers and go to online real estate sites to see what comparable homes are going for in your area.
It's not always imperative to be the lowest priced home on the block, particularly when aesthetic and other significant improvements have been made. However, it is important that the listing price is not out of line with other comparable homes in the market. Try to put yourself in the buyer's shoes and then determine what a fair price might be. Have friends, neighbors and real estate professionals tour the home and weigh in as well. (To learn more, read 10 Tips For Getting A Fair Price On A Home.)
The Bottom Line
Selling a home in a down market requires a little extra work. Do everything you can to get the home in excellent shape and be prepared to make some small concessions at closing. These tips, coupled with an attractive price, will increase the odds of getting your home sold.
www.investopedia.com
In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home's attractiveness besides lowering the asking price. If you're looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.
Tutorial: Exploring Real Estate Investing
1. Differentiate From the Neighbors
In order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high grade windows or a new roof. This can help improve the home's aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that will appeal to the widest audience. In addition, they should compliment the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.
However, while it can pay to spice up your home, don't over-improve it. According to a 2006 article in Realtor Magazine, some renovations, such as adding a bathroom or a sun room, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom addition is about 75%. For a sun room, it's even less. If you're going to invest in renovations, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home's listing information. More than ever, in a down market you should take every small edge you can get. (For more insight, see Fix It And Flip It: The Value of Remodeling.)
2. Clean the Clutter
It is imperative to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space. Staging costs can range from a couple hundred dollars for a basic consultation to several thousand dollars, particularly if you rent modern, neutral furniture for showing your home. Many people feel that stagers can make a home more salable, so hiring one deserves some consideration. (For more insight, see Staging Your Home For A Quick Sale.)
3. Sweeten the Deal
Another way to make the home and deal more attractive to buyers is to offer things or terms that might sweeten the pot. For example, sellers that offer the buyer a couple of thousand dollars credit toward closing costs, or offer to pay closing costs entirely will in some cases receive more attention from house hunters looking at similar homes. In a down market, buyers are looking for a deal, so do your best to make them feel they're getting one.
4. Another tip is to offer a transferable home warranty, which can cost $300 to $400for a one-year policy and will cover appliances, such as air conditioners and refrigerators, that fail. Depending on the policy, other appliances and house gadgets may be covered as well. A potential buyer may feel more at ease knowing that he or she will be covered against such problems, which could make your home more attractive than a competing home.
Finally, it's important to note that some buyers are motivated by the option to close in a short amount of time. If it is possible for you to close on the home within 30 to 60 days, this may set your deal apart and get you a contract.
5. Improve Curb Appeal
Sellers often overlook the importance of their home's curb appeal. The first thing a buyer sees is a home's external appearance and the way it fits into the surrounding neighborhood. Try to make certain that the exterior has a fresh coat of paint, and that the bushes and lawn are well manicured. In real estate, appearances mean a lot. What better way to set your home apart than to make it attractive at first glance?
Get Your Home in "Move In" Condition
Aesthetics are important, but it's also important that doors, appliances and electrical and plumbing fixtures be in compliance with current building codes and in working order. Again, the idea is to have the home in move in condition and to give potential buyers the impression that they will be able to move right in and start enjoying their new home, rather than spending time and money fixing it up.
6. Pricing It Right
Regardless of how well you renovate and stage your home, it is still important to price the home appropriately. Consult a local real estate agent, read the newspapers and go to online real estate sites to see what comparable homes are going for in your area.
It's not always imperative to be the lowest priced home on the block, particularly when aesthetic and other significant improvements have been made. However, it is important that the listing price is not out of line with other comparable homes in the market. Try to put yourself in the buyer's shoes and then determine what a fair price might be. Have friends, neighbors and real estate professionals tour the home and weigh in as well. (To learn more, read 10 Tips For Getting A Fair Price On A Home.)
The Bottom Line
Selling a home in a down market requires a little extra work. Do everything you can to get the home in excellent shape and be prepared to make some small concessions at closing. These tips, coupled with an attractive price, will increase the odds of getting your home sold.
11 Ways to Cut Your Electricity Bill
Cut Your Electricity Bill
Time to complete: 5 minutes to unplug devices
10-20 minutes to buy bulbs
Money you'll spend: $3 to $13 per fluorescent bulb
$80-120 for a microwave or toaster/convection oven
What you'll get: Around $100 to $500 per year off your electric bills.
--------------------------------------------------------------------------------
List of Electricity-Saving Tips:
1. Use compact fluorescent bulbs in lamps that are on for more than one or two hours per day. Fluorescent lights have greatly improved in quality over the past ten years, and prices have come down recently: you can get 13-watt bulbs for less than four dollars. Fluorescent bulbs are 6-8 times more energy-efficient. They last 10-20 times longer than normal bulbs, so you won't have to change them for years. You can buy fluorescent bulbs that give off a very warm yellowish light, not that harsh white light. According to the Rocky Mountain Institute, a fluorescent bulb will prevent the emission of 1000 pounds of carbon dioxide from electrical power plants.
Let's say you have a light on for 4 hours a day, 250 days in a year. On average, running a 23-watt fluorescent bulb for that long will cost you $1.88, while a 100-watt incandescent bulb will cost you $8.30 in electricity. A 23-watt fluorescent bulb costs about $13, but it saves you $6.42 in energy costs per year, so it will pay for itself in 2 years. Your local power company might even help you pay for your fluorescent bulbs. I recommend that you buy them at a local hardware store rather than buying them online, because many fluorescent bulbs don't fit into normal light sockets. If you still want to buy them online, check out Bulbs.com.
Note: Sometimes you'll see a light bulb advertised as a "long-life bulb", or something like that. That's not a fluorescent bulb, and it won't really save you much money.
2. Do you work at a desk at home? Use a 20-watt desk lamp instead of turning on a 60-watt light bulb that lights the entire room. You'll save about $5 on electricity for every 500 hours you spend at the desk. Look for one in the Electronics category at the MySimon.com shopping agent.
3. Go around your home and unplug devices you haven't used in the past month. Even if they aren't turned on, they probably use some juice just to stay warm.
4. Use a microwave oven or toaster oven when cooking small items. They use less energy and they don't require preheating. The approximate yearly cost to use ovens of various types is:
Electric Oven: $27
Toaster Oven: $14
Gas Oven: $13
Convection/Toaster Oven: $10
Microwave Oven: $5
Use the MySimon.com shopping agent to look for one.
5. A computer system can use $35 to $140 worth of electricity per year. You can reduce this cost by about 85% if you use a laptop computer. Or you could use the "standby" mode that's available in newer desktops, and/or use flat-screen monitors. You can go to your PC's power settings and tell it to automatically go into standby after not being used for a while (when it wakes up, your PC will still have the files and programs that were there when it "sleeped" itself.)
6. Set your refrigerator temperature to 38-40 degrees Fahrenheit. If it's set 5 degrees lower than that, it's costing you about $5 more per year than it should. Defrost it as needed, to save another few bucks per year. Don't open the door too often, or for too long.
7. Employ your kids as "Energy Rangers": Offer to pay them half of the utility-bill savings they can generate, compared to last year's bills. Turn them loose on this site, then sit back and watch as they frantically plug every energy leak you can imagine.
8. Get your deposit back from the power company (you probably paid it when you moved in.) Usually you can get it back after living in your home for a year or two. So if you've established a reliable payment record, ask to get it back. They'll usually pay you 6% yearly interest on the deposit.
9. Washer/Dryer. You can save money by washing clothes with cold water, drying only full loads (without overloading), cleaning the lint filter, and stopping the dryer as soon as the clothes are dry.
10. Your local power company probably has a "Time of Use" program. This means you'll be charged more for electricity during prime times and less during off hours. When you switch to TOU, the power company will install a new meter. You may be able to save as much as $500 a year with this idea. Businesses can participate too.
11. For more ideas see Home Energy Savers, a government site that helps consumers find the best ways to save energy in their homes.
Time to complete: 5 minutes to unplug devices
10-20 minutes to buy bulbs
Money you'll spend: $3 to $13 per fluorescent bulb
$80-120 for a microwave or toaster/convection oven
What you'll get: Around $100 to $500 per year off your electric bills.
--------------------------------------------------------------------------------
List of Electricity-Saving Tips:
1. Use compact fluorescent bulbs in lamps that are on for more than one or two hours per day. Fluorescent lights have greatly improved in quality over the past ten years, and prices have come down recently: you can get 13-watt bulbs for less than four dollars. Fluorescent bulbs are 6-8 times more energy-efficient. They last 10-20 times longer than normal bulbs, so you won't have to change them for years. You can buy fluorescent bulbs that give off a very warm yellowish light, not that harsh white light. According to the Rocky Mountain Institute, a fluorescent bulb will prevent the emission of 1000 pounds of carbon dioxide from electrical power plants.
Let's say you have a light on for 4 hours a day, 250 days in a year. On average, running a 23-watt fluorescent bulb for that long will cost you $1.88, while a 100-watt incandescent bulb will cost you $8.30 in electricity. A 23-watt fluorescent bulb costs about $13, but it saves you $6.42 in energy costs per year, so it will pay for itself in 2 years. Your local power company might even help you pay for your fluorescent bulbs. I recommend that you buy them at a local hardware store rather than buying them online, because many fluorescent bulbs don't fit into normal light sockets. If you still want to buy them online, check out Bulbs.com.
Note: Sometimes you'll see a light bulb advertised as a "long-life bulb", or something like that. That's not a fluorescent bulb, and it won't really save you much money.
2. Do you work at a desk at home? Use a 20-watt desk lamp instead of turning on a 60-watt light bulb that lights the entire room. You'll save about $5 on electricity for every 500 hours you spend at the desk. Look for one in the Electronics category at the MySimon.com shopping agent.
3. Go around your home and unplug devices you haven't used in the past month. Even if they aren't turned on, they probably use some juice just to stay warm.
4. Use a microwave oven or toaster oven when cooking small items. They use less energy and they don't require preheating. The approximate yearly cost to use ovens of various types is:
Electric Oven: $27
Toaster Oven: $14
Gas Oven: $13
Convection/Toaster Oven: $10
Microwave Oven: $5
Use the MySimon.com shopping agent to look for one.
5. A computer system can use $35 to $140 worth of electricity per year. You can reduce this cost by about 85% if you use a laptop computer. Or you could use the "standby" mode that's available in newer desktops, and/or use flat-screen monitors. You can go to your PC's power settings and tell it to automatically go into standby after not being used for a while (when it wakes up, your PC will still have the files and programs that were there when it "sleeped" itself.)
6. Set your refrigerator temperature to 38-40 degrees Fahrenheit. If it's set 5 degrees lower than that, it's costing you about $5 more per year than it should. Defrost it as needed, to save another few bucks per year. Don't open the door too often, or for too long.
7. Employ your kids as "Energy Rangers": Offer to pay them half of the utility-bill savings they can generate, compared to last year's bills. Turn them loose on this site, then sit back and watch as they frantically plug every energy leak you can imagine.
8. Get your deposit back from the power company (you probably paid it when you moved in.) Usually you can get it back after living in your home for a year or two. So if you've established a reliable payment record, ask to get it back. They'll usually pay you 6% yearly interest on the deposit.
9. Washer/Dryer. You can save money by washing clothes with cold water, drying only full loads (without overloading), cleaning the lint filter, and stopping the dryer as soon as the clothes are dry.
10. Your local power company probably has a "Time of Use" program. This means you'll be charged more for electricity during prime times and less during off hours. When you switch to TOU, the power company will install a new meter. You may be able to save as much as $500 a year with this idea. Businesses can participate too.
11. For more ideas see Home Energy Savers, a government site that helps consumers find the best ways to save energy in their homes.
Monday, December 12, 2011
Federal report: Home flipping drove housing bubble
Denver Post
LAS VEGAS—The Federal Reserve Bank of New York says real estate investors drove the housing bubble that led to record foreclosures in Nevada, California, Arizona, Florida and other states.
The report released last week says the financial crisis was amplified by the rise and fall of housing prices during the last decade.
The report says investors who used mortgage credits to purchase multiple residential properties helped inflate home prices. According to the report, more than a third of all U.S. home mortgages granted in 2006 went to people who already owned at least one house.
Those buyers then defaulted in large numbers after home values began to drop.
The report notes that in Arizona, California, Florida and Nevada, investors made up nearly half of all mortgage-backed purchases.
LAS VEGAS—The Federal Reserve Bank of New York says real estate investors drove the housing bubble that led to record foreclosures in Nevada, California, Arizona, Florida and other states.
The report released last week says the financial crisis was amplified by the rise and fall of housing prices during the last decade.
The report says investors who used mortgage credits to purchase multiple residential properties helped inflate home prices. According to the report, more than a third of all U.S. home mortgages granted in 2006 went to people who already owned at least one house.
Those buyers then defaulted in large numbers after home values began to drop.
The report notes that in Arizona, California, Florida and Nevada, investors made up nearly half of all mortgage-backed purchases.
New Colorado School Grades website grades schools with simple A through F
www.DenverPost.com
Www.coloradoschoolgrades.com
A coalition of 18 community organizations has launched a nearly $1 million Internet-based project that translates state rankings of public schools into simple letter grades.
"Every parent can relate to grades A through F," said Colorado Succeeds president Tim Taylor, a member of the Colorado School Grades coalition. "We're not changing inputs, just translating in a way that is clear."
The website — in English and Spanish — went live today to coincide with the start of choice enrollment for many districts in Colorado.
The launch includes an advertising campaign with 18 billboards across the state and multiple radio and television commercials.
The coalition has been working with the Center for Education Policy Analysis at the University of Colorado Denver's School of Public Affairs to determine the grade breakdown.
The state Department of Education ranking system labels 60 percent of public schools in the top category of "performance," according to Colorado School Grades.
"We thought it would be better to be able to acknowledge who our top performers were," Taylor said. "Clearly some schools need help too."
Under the coalition's grading system, most schools are given a letter C for average, allowing the top performers to be highlighted.
The coalition grades on a curve, allowing only schools with the top 10 percent of scores — based on the state's calculation — to receive an A.
The state calculations of school rankings take academic growth into high consideration, letting it account for 75 percent of the final score in elementary and middle schools, and 50 percent in high school grades.
The website provides links to the original state school grades.
"Transparency is the most important factor — clear, concise and easy-to-understand information," Taylor said. "But the second part is taking action."
In addition to grading every school and allowing side-by-side comparisons, the website provides information on how to reach out to teachers, principals, superintendents, board members and legislators to push for school improvement.
"If someone's not satisfied with their school's grades, they can see the different opportunities and suggestions on how to get involved to make an improvement," Taylor said.
Other coalition members include the Colorado Children's Campaign, Stand for Children, the Professional Association of Colorado Educators, the Walton Family Foundation and the Adolph Coors Foundation.
Www.coloradoschoolgrades.com
A coalition of 18 community organizations has launched a nearly $1 million Internet-based project that translates state rankings of public schools into simple letter grades.
"Every parent can relate to grades A through F," said Colorado Succeeds president Tim Taylor, a member of the Colorado School Grades coalition. "We're not changing inputs, just translating in a way that is clear."
The website — in English and Spanish — went live today to coincide with the start of choice enrollment for many districts in Colorado.
The launch includes an advertising campaign with 18 billboards across the state and multiple radio and television commercials.
The coalition has been working with the Center for Education Policy Analysis at the University of Colorado Denver's School of Public Affairs to determine the grade breakdown.
The state Department of Education ranking system labels 60 percent of public schools in the top category of "performance," according to Colorado School Grades.
"We thought it would be better to be able to acknowledge who our top performers were," Taylor said. "Clearly some schools need help too."
Under the coalition's grading system, most schools are given a letter C for average, allowing the top performers to be highlighted.
The coalition grades on a curve, allowing only schools with the top 10 percent of scores — based on the state's calculation — to receive an A.
The state calculations of school rankings take academic growth into high consideration, letting it account for 75 percent of the final score in elementary and middle schools, and 50 percent in high school grades.
The website provides links to the original state school grades.
"Transparency is the most important factor — clear, concise and easy-to-understand information," Taylor said. "But the second part is taking action."
In addition to grading every school and allowing side-by-side comparisons, the website provides information on how to reach out to teachers, principals, superintendents, board members and legislators to push for school improvement.
"If someone's not satisfied with their school's grades, they can see the different opportunities and suggestions on how to get involved to make an improvement," Taylor said.
Other coalition members include the Colorado Children's Campaign, Stand for Children, the Professional Association of Colorado Educators, the Walton Family Foundation and the Adolph Coors Foundation.
Tuesday, November 22, 2011
Marketing Your Home to Sell
I can help you with all of these.
These are great considerations of Current Market Conditions for your home:
1. Are home prices in your area trending upwards or downwards?
2. Are homes selling quickly or languishing?
3. Will your home be on the market in the spring home-buying season or the dead of winter?
4. What are current interest rates for mortgages?
5. Will you be selling in a Buyers or a Sellers market?
6. Is the local job market strong or are employees fearful of staff reductions?
7. How motivated are you for a quick sale?
8. Is it necessary for you as Seller to provide “incentives” such as a “pre-home sale” inspection, Home Buyers Warranty, financing assistance, Selling Agent bonuses? Many of these factors will be weighed in the First Step in marketing your Home.
These are great considerations of Current Market Conditions for your home:
1. Are home prices in your area trending upwards or downwards?
2. Are homes selling quickly or languishing?
3. Will your home be on the market in the spring home-buying season or the dead of winter?
4. What are current interest rates for mortgages?
5. Will you be selling in a Buyers or a Sellers market?
6. Is the local job market strong or are employees fearful of staff reductions?
7. How motivated are you for a quick sale?
8. Is it necessary for you as Seller to provide “incentives” such as a “pre-home sale” inspection, Home Buyers Warranty, financing assistance, Selling Agent bonuses? Many of these factors will be weighed in the First Step in marketing your Home.
Literally, An Upside Down House!
The Upside Down House is a project created by a Polish businessman and philanthropist named Daniel Czapiewski, and is located in Poland in the tiny village of Szymbark, and here are a few pics with this house. Rather than simply being a bizarre tourist attraction this house, managed to attract thousands of tourists. The house is also meant to be a profound statement about the Communist era and the state of the world. Czapiewski’s company would normally take three weeks to construct a house, but this one took 114 days because the workers were disorientated by the strange angles of the walls. Many tourists who visit complain of mild seasickness and dizziness after just a few minutes of being in the structure.
From www.FresHome.com
9 ways to keep lid on energy bills
9 ways to keep lid on energy bills
Air leaks can infiltrate surprising places
By Paul Bianchina
Inman News™
No one likes wasting money, especially in these tough economic times. So it certainly makes sense -- dollars and cents -- to make a small investment of time and supplies to close up those heat-wasting air leaks around your home. It'll pay back big dividends in reduced energy bills and a warmer, more comfortable house this winter. So let's look at some of the areas where those drafts may be lurking, and see how to take care of them.
1. Doors and windows: This should be an obvious one. If you can see gaps between your siding and your windows or exterior doors, close them up with a bead of clear or paintable acrylic latex caulk. Larger gaps can be filled with foam backer rod before applying the caulking.
2. Exterior penetrations: Some of these areas are going to be obvious, while some may take a little bit of searching. Some examples of exterior penetrations where air can leak into the house include exterior faucets, dryer vents, exterior electrical outlets, exterior light fixtures, holes that have been drilled for phone and TV cables, conduit penetrations, exit points for plumbing drains, and penetrations for air conditioning lines. Closing these penetrations may require a variety of different techniques, including caulk, expanding spray foam, or, in the case of electrical boxes and fixtures, specific gaskets that are designed to fit the boxes.
3. Exhaust-vent covers: Dryer vents, range hood vents, bath fan vents, and other interior ventilation equipment typically terminate outside the house in a plastic or metal cover that has one or more louvers on it. The louvers are designed to be in the closed position whenever the fan is not in use, so that outside air doesn't leak in. Check all of these louvers to be sure they're closing completely, with no air leaks. If they aren't, you can adjust the spring tension to hold them closed more tightly; add foam weatherstripping tape for a more air-tight seal; or replace the entire vent cap with a new one.
4. Gaps around interior vents and recessed lights: Inside your home, heated air can be leaking out around that same ventilation equipment, where vent pipes pass through the walls or ceiling, or where vent covers meet wall and ceiling surfaces. Recessed light fixtures can also be real air-leakers. Around the vent pipes and recessed light cans, seal any gaps with caulking. For the vent covers and recessed light covers, remove the covers, then adjust the springs and/or add foam weatherstripping tape to create a tight seal between the cover and the ceiling.
5. Heat-duct penetrations: Gaps around heating-duct cans where they pass through the floor or wall allow cold air to enter from the crawl space, while gaps around ceiling-duct cans allow heated air to escape into the attic. To close those drafts, first remove the register, then use a combination of caulking and/or metallic duct sealant tape to close any gaps between the sheet metal cans and the floor, wall or ceiling surface.
6. Fireplaces and woodstoves: Lots of gaps can occur around these appliances. With a conventional fireplace, keep the damper closed except when burning a fire to prevent heated air from escaping up the chimney. Consider investing in a set of air-tight doors, which close off the air leaks and also make your fires more efficient. Look for gaps around woodstove and gas fireplace flue pipes, and air leaks around masonry chimneys. Use a metal collar if necessary around flue pipe penetrations, and seal gaps with heat-resistant sealant specially formulated for this application.
7. Attic and crawl space hatches: These can be real air losers if they're not weatherstripped, so take care of that with some foam tape. Make sure the hatches are insulated as well.
8. Interior doors to unheated spaces: If you have any interior doors that lead to unheated spaces, including basements, garages or attics, be sure the doors are weatherstripped to prevent air leakage. If possible, replace older, hollow-core doors with solid-core or, better yet, insulated metal doors.
9. Sill plates and penetrations: This one's not as easy to deal with, but it's well worth the effort to try to do whatever you can with it. Air can leak both into and out of the house through gaps where the sill plate meets the foundation or the siding, and around plumbing and wiring penetrations drilled through wall plates in various areas. If you have a gap between your siding and the bottom of your exterior wall, especially in older homes where the use of sill sealers was not a common practice, consider closing up this big air gap with a bead of caulking or expanding foam. In the basement, crawl space and attic, if you can access any of the pipes and wires that pass through the wall plates, seal the penetrations with expanding foam.
Air leaks can infiltrate surprising places
By Paul Bianchina
Inman News™
No one likes wasting money, especially in these tough economic times. So it certainly makes sense -- dollars and cents -- to make a small investment of time and supplies to close up those heat-wasting air leaks around your home. It'll pay back big dividends in reduced energy bills and a warmer, more comfortable house this winter. So let's look at some of the areas where those drafts may be lurking, and see how to take care of them.
1. Doors and windows: This should be an obvious one. If you can see gaps between your siding and your windows or exterior doors, close them up with a bead of clear or paintable acrylic latex caulk. Larger gaps can be filled with foam backer rod before applying the caulking.
2. Exterior penetrations: Some of these areas are going to be obvious, while some may take a little bit of searching. Some examples of exterior penetrations where air can leak into the house include exterior faucets, dryer vents, exterior electrical outlets, exterior light fixtures, holes that have been drilled for phone and TV cables, conduit penetrations, exit points for plumbing drains, and penetrations for air conditioning lines. Closing these penetrations may require a variety of different techniques, including caulk, expanding spray foam, or, in the case of electrical boxes and fixtures, specific gaskets that are designed to fit the boxes.
3. Exhaust-vent covers: Dryer vents, range hood vents, bath fan vents, and other interior ventilation equipment typically terminate outside the house in a plastic or metal cover that has one or more louvers on it. The louvers are designed to be in the closed position whenever the fan is not in use, so that outside air doesn't leak in. Check all of these louvers to be sure they're closing completely, with no air leaks. If they aren't, you can adjust the spring tension to hold them closed more tightly; add foam weatherstripping tape for a more air-tight seal; or replace the entire vent cap with a new one.
4. Gaps around interior vents and recessed lights: Inside your home, heated air can be leaking out around that same ventilation equipment, where vent pipes pass through the walls or ceiling, or where vent covers meet wall and ceiling surfaces. Recessed light fixtures can also be real air-leakers. Around the vent pipes and recessed light cans, seal any gaps with caulking. For the vent covers and recessed light covers, remove the covers, then adjust the springs and/or add foam weatherstripping tape to create a tight seal between the cover and the ceiling.
5. Heat-duct penetrations: Gaps around heating-duct cans where they pass through the floor or wall allow cold air to enter from the crawl space, while gaps around ceiling-duct cans allow heated air to escape into the attic. To close those drafts, first remove the register, then use a combination of caulking and/or metallic duct sealant tape to close any gaps between the sheet metal cans and the floor, wall or ceiling surface.
6. Fireplaces and woodstoves: Lots of gaps can occur around these appliances. With a conventional fireplace, keep the damper closed except when burning a fire to prevent heated air from escaping up the chimney. Consider investing in a set of air-tight doors, which close off the air leaks and also make your fires more efficient. Look for gaps around woodstove and gas fireplace flue pipes, and air leaks around masonry chimneys. Use a metal collar if necessary around flue pipe penetrations, and seal gaps with heat-resistant sealant specially formulated for this application.
7. Attic and crawl space hatches: These can be real air losers if they're not weatherstripped, so take care of that with some foam tape. Make sure the hatches are insulated as well.
8. Interior doors to unheated spaces: If you have any interior doors that lead to unheated spaces, including basements, garages or attics, be sure the doors are weatherstripped to prevent air leakage. If possible, replace older, hollow-core doors with solid-core or, better yet, insulated metal doors.
9. Sill plates and penetrations: This one's not as easy to deal with, but it's well worth the effort to try to do whatever you can with it. Air can leak both into and out of the house through gaps where the sill plate meets the foundation or the siding, and around plumbing and wiring penetrations drilled through wall plates in various areas. If you have a gap between your siding and the bottom of your exterior wall, especially in older homes where the use of sill sealers was not a common practice, consider closing up this big air gap with a bead of caulking or expanding foam. In the basement, crawl space and attic, if you can access any of the pipes and wires that pass through the wall plates, seal the penetrations with expanding foam.
Thursday, November 3, 2011
Buy a House, Get a Visa: Congress Looks to Lure Foreign Nationals
www.realestateinsidernews.com
Attention Canadian snowbirds, well-heeled Brazilians and boom-era Chinese nationals looking for a little piece of that increasingly elusive thing called “The American Dream.”
America has your number and, literally, it’s $500,000.
In a comprehensive bill that aims to spur foreign travel and spending in the U.S., Senators Charles E. Schumer (D-NY) and Mike Lee (R-UT), have proposed providing a three-year residential visa to foreign nationals who invest at least $500,000 in residential real estate in the U.S. At least $250,000 must be spent on a primary residence where the visa holder will live for at least 180 days out of the year while paying taxes to the U.S.
Investor Warren Buffett offered an early version of this real estate inducement back in August. During an interview on PBS, Buffett suggested that if the U.S. altered policy and opened the door for “rich immigrants,” those resources would be welcomed in a struggling U.S. economy, especially in the area of residential housing.
Inducements for foreign national purchase of U.S. real estate is seen another important step towards bolstering prices and shoring up markets in foreclosure-centric areas.
“There is no silver bullet out there. And really, the path forward is a lot of small steps like this that we’re going to take,” according to Stan Humphries, Zillow’s chief economist.
Real estate analysts have said this proposal could lift demand for U.S. homes and help ease the housing crisis. According to Humphries, foreigners spent more than $80 billion on U.S. homes last year, a 24 percent increase from the year before. A quarter of those buyers were Canadian. Another 25 percent of foreign investors in residential U.S. property is made up of investors from China, Mexico, United Kingdom and India — a percentage that could be boosted should the proposal become law.
Humphries is not alone in advocating myriad measures for alleviating the real estate doldrums. Editorial writers at newspaper around the country are also weighing in.
“Offering smart and abundant pathways to foreign investment in our domestic markets and legal immigration have always been important to America’s long-term economic growth. We wish there were political will to provide even bolder solutions. But it is gratifying to see Lee and Schumer reach across the aisle to identify these politically palatable and modest ways to provide for increased tourism, foreign investment and residential immigration,” said the Deseret News in Salt Lake City, UT.
However, critics question whether the measure is an unnecessary, if not unwarranted, inducement. Debate is being waged around key issues:
■Given the level of investment already, do foreign nationals need further incentive?
■Will foreign buyers actually help spark another real estate bubble, at least in some specific markets generally attractive to non-U.S. investors?
■Is the U.S. housing market’s recovery more dependent on far more broad recovery of the entire U.S. economy?
■Is the residency visa a political ploy to fend off criticism that incentives are being given to foreign investors instead of U.S. citizens, many of whom have been forced out of the U.S. real estate market?
Schumer’s office said the inducement extends beyond the actual real estate purchase. If foreign nationals with cash to buy $500K homes are on U.S. soil, then they are spending money on gas, groceries and other goods and services that bolster local economies.
With a three-year time frame applied to the residency visa, the proposal would also create more enforcement demands. Are foreign nationals living in those properties? What happens when the visa expires?
But Congressional supporters say The Visa Improvements to Stimulate International Tourism to the United States of America Act (VISIT-USA Act) would remove bureaucratic red tape that stifles travel and investment in the U.S. Foreign buyers would not be granted work visas and they would still be subjected to criminal background checks and other safeguard measures.
The proposal has gotten the thumb’s up from the U.S. Chamber of Commerce, the U.S. Travel Assocation and the American Hotel & Lodging Association.
Attention Canadian snowbirds, well-heeled Brazilians and boom-era Chinese nationals looking for a little piece of that increasingly elusive thing called “The American Dream.”
America has your number and, literally, it’s $500,000.
In a comprehensive bill that aims to spur foreign travel and spending in the U.S., Senators Charles E. Schumer (D-NY) and Mike Lee (R-UT), have proposed providing a three-year residential visa to foreign nationals who invest at least $500,000 in residential real estate in the U.S. At least $250,000 must be spent on a primary residence where the visa holder will live for at least 180 days out of the year while paying taxes to the U.S.
Investor Warren Buffett offered an early version of this real estate inducement back in August. During an interview on PBS, Buffett suggested that if the U.S. altered policy and opened the door for “rich immigrants,” those resources would be welcomed in a struggling U.S. economy, especially in the area of residential housing.
Inducements for foreign national purchase of U.S. real estate is seen another important step towards bolstering prices and shoring up markets in foreclosure-centric areas.
“There is no silver bullet out there. And really, the path forward is a lot of small steps like this that we’re going to take,” according to Stan Humphries, Zillow’s chief economist.
Real estate analysts have said this proposal could lift demand for U.S. homes and help ease the housing crisis. According to Humphries, foreigners spent more than $80 billion on U.S. homes last year, a 24 percent increase from the year before. A quarter of those buyers were Canadian. Another 25 percent of foreign investors in residential U.S. property is made up of investors from China, Mexico, United Kingdom and India — a percentage that could be boosted should the proposal become law.
Humphries is not alone in advocating myriad measures for alleviating the real estate doldrums. Editorial writers at newspaper around the country are also weighing in.
“Offering smart and abundant pathways to foreign investment in our domestic markets and legal immigration have always been important to America’s long-term economic growth. We wish there were political will to provide even bolder solutions. But it is gratifying to see Lee and Schumer reach across the aisle to identify these politically palatable and modest ways to provide for increased tourism, foreign investment and residential immigration,” said the Deseret News in Salt Lake City, UT.
However, critics question whether the measure is an unnecessary, if not unwarranted, inducement. Debate is being waged around key issues:
■Given the level of investment already, do foreign nationals need further incentive?
■Will foreign buyers actually help spark another real estate bubble, at least in some specific markets generally attractive to non-U.S. investors?
■Is the U.S. housing market’s recovery more dependent on far more broad recovery of the entire U.S. economy?
■Is the residency visa a political ploy to fend off criticism that incentives are being given to foreign investors instead of U.S. citizens, many of whom have been forced out of the U.S. real estate market?
Schumer’s office said the inducement extends beyond the actual real estate purchase. If foreign nationals with cash to buy $500K homes are on U.S. soil, then they are spending money on gas, groceries and other goods and services that bolster local economies.
With a three-year time frame applied to the residency visa, the proposal would also create more enforcement demands. Are foreign nationals living in those properties? What happens when the visa expires?
But Congressional supporters say The Visa Improvements to Stimulate International Tourism to the United States of America Act (VISIT-USA Act) would remove bureaucratic red tape that stifles travel and investment in the U.S. Foreign buyers would not be granted work visas and they would still be subjected to criminal background checks and other safeguard measures.
The proposal has gotten the thumb’s up from the U.S. Chamber of Commerce, the U.S. Travel Assocation and the American Hotel & Lodging Association.
Metro Denver apartment rental market stays tight in third quarter
Metro Denver apartment rental market stays tight in third quarter
By Denver Post
Metro Denver's apartment vacancy rate inched slightly higher in the third quarter after falling to a 10-year-low in the second quarter.
But the rental market is still much tighter when compared with the third quarter of 2010.
The metro area's vacancy rate was 4.9 percent in the third quarter, up from 4.8 percent during the previous period but down from 5.3 percent during the third quarter of 2010, according to a new report released by the Apartment Association of Metro Denver.
"Given the limited number of new additions to the inventory in the last two years, and especially during the last year, a somewhat lowering of the high unemployment rate, continued immigration, increase in metro area natural population, the very similar vacancy rate this quarter was expected," the report states.
Average rent increased to $936.46 from $915.08 during the second quarter and $912.68 in the third quarter of last year.
By Denver Post
Metro Denver's apartment vacancy rate inched slightly higher in the third quarter after falling to a 10-year-low in the second quarter.
But the rental market is still much tighter when compared with the third quarter of 2010.
The metro area's vacancy rate was 4.9 percent in the third quarter, up from 4.8 percent during the previous period but down from 5.3 percent during the third quarter of 2010, according to a new report released by the Apartment Association of Metro Denver.
"Given the limited number of new additions to the inventory in the last two years, and especially during the last year, a somewhat lowering of the high unemployment rate, continued immigration, increase in metro area natural population, the very similar vacancy rate this quarter was expected," the report states.
Average rent increased to $936.46 from $915.08 during the second quarter and $912.68 in the third quarter of last year.
Average rate on 30-year mortgage falls to 4 pct.
Average rate on 30-year mortgage falls to 4 pct.
AP Economics Writer
Posted: 11/03/2011
WASHINGTON—The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago.
Freddie Mac said Thursday the rate on the 30-year loan dropped from 4.10 percent last week. Four weeks ago, it dropped to 3.94 percent—the lowest rate ever, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage fell to 3.31 percent from 3.38 percent. Four weeks ago, it too hit a record low of 3.26 percent.
Mortgage rates tend to track the yield on the 10-year Treasury note. They yield fell this week after investors shifted money out of stocks and into the safety of Treasurys on fears that Europe's debt crisis could worsen.
The Federal Reserve is also shifting more money into longer-term Treasurys to try to force mortgage rates lower. Treasury yields fall when buying activity increases.
Federal Reserve Chairman Ben Bernanke said Wednesday that low rates have failed to spur the increase in home buying or mortgage refinancing that government officials had expected.
High unemployment and declining wages have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that could lose value over the next three to four years. And most homeowners who can afford to refinance already have.
The number of Americans who bought previously occupied homes fell in September and is on pace to match last year's dismal figures—the worst in 13 years.
Sales of new homes rose last month after four straight monthly declines. But the increase was largely because builders cut their prices. And it followed a peak buying season that was the worst on records going back nearly 50 years.
The low rates have caused a modest boom in refinancing, but that benefit might be wearing off. Most people who can afford to refinance have already locked in rates below 5 percent.
Rates have been below 5 percent for all but two weeks in the past year. Just five years ago they were closer to 6.5 percent. Ten years ago, they were above 8 percent.
The average rate on the five-year adjustable loan fell to 2.96 percent from 3.08 percent. That matches a record low hit four weeks ago.
The average rate on the one-year adjustable loan declined to 2.88 percent from 2.90 percent. It fell last month to 2.81 percent, the lowest on records dating to 1984.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for the 30-year fixed mortgage fell from 0.8 to 0.7. The average fee on the 15-year fixed loan was unchanged at 0.7. The average fees on the five-year adjustable loan one-year adjustable loan were also unchanged at 0.6.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
AP Economics Writer
Posted: 11/03/2011
WASHINGTON—The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago.
Freddie Mac said Thursday the rate on the 30-year loan dropped from 4.10 percent last week. Four weeks ago, it dropped to 3.94 percent—the lowest rate ever, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage fell to 3.31 percent from 3.38 percent. Four weeks ago, it too hit a record low of 3.26 percent.
Mortgage rates tend to track the yield on the 10-year Treasury note. They yield fell this week after investors shifted money out of stocks and into the safety of Treasurys on fears that Europe's debt crisis could worsen.
The Federal Reserve is also shifting more money into longer-term Treasurys to try to force mortgage rates lower. Treasury yields fall when buying activity increases.
Federal Reserve Chairman Ben Bernanke said Wednesday that low rates have failed to spur the increase in home buying or mortgage refinancing that government officials had expected.
High unemployment and declining wages have made it harder for many people to qualify for loans. Many Americans don't want to sink money into a home that could lose value over the next three to four years. And most homeowners who can afford to refinance already have.
The number of Americans who bought previously occupied homes fell in September and is on pace to match last year's dismal figures—the worst in 13 years.
Sales of new homes rose last month after four straight monthly declines. But the increase was largely because builders cut their prices. And it followed a peak buying season that was the worst on records going back nearly 50 years.
The low rates have caused a modest boom in refinancing, but that benefit might be wearing off. Most people who can afford to refinance have already locked in rates below 5 percent.
Rates have been below 5 percent for all but two weeks in the past year. Just five years ago they were closer to 6.5 percent. Ten years ago, they were above 8 percent.
The average rate on the five-year adjustable loan fell to 2.96 percent from 3.08 percent. That matches a record low hit four weeks ago.
The average rate on the one-year adjustable loan declined to 2.88 percent from 2.90 percent. It fell last month to 2.81 percent, the lowest on records dating to 1984.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for the 30-year fixed mortgage fell from 0.8 to 0.7. The average fee on the 15-year fixed loan was unchanged at 0.7. The average fees on the five-year adjustable loan one-year adjustable loan were also unchanged at 0.6.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
Thursday, October 27, 2011
Denver ranks 10th in U.S. on housing-market strength
Denver Business Journal
October 27th, 2011
Denver ranks 10th out of the nation’s top 100 cities in the strength of its housing market, according to new data from market-intelligence firm Hanley Wood.
Denver achieved its ranking because its home values are holding steady, its foreclosed-homes inventory is dwindling, and its economy is stronger than most other markets.
“Denver is at the end of a long valley, but there’s still a slow, gradual recovery ahead,” said Jonathan Smoke, executive director of research for Costa Mesa, Calif.-based Hanley Wood. “The good news is, it’s not getting worse. Denver is right at the point of recovery.”
Smoke spoke Thursday at an “Intel for a Changing Market” event at the Hyatt Regency Denver Tech Center. The top-100 markets data is in the September issue of Builder magazine.
In a speech entitled “Adapt or Die,” Smoke laid out statistics showing how Denver’s market has gone through the worst, and is expected to continue to rebound — regardless of this being an average year for home building and sales.
“Despite this being an excellent time to buy [because of low interest rates and lower house values], people are just not buying,” Smoke said. “Denver definitely fits into that category.”
But the net demand for homes here exceeds the supply of new construction, Hanley Wood research shows. Home prices here have been moderate, and though there haven’t been any huge gains, the values have hit bottom and are moving up, Smoke said.
“It does not look this way in other parts of the country,” Smoke said. “I don’t enjoy these sessions in California.”
Denver’s economy is the key, he said, and is expected to recover jobs lost during the recession six months before the rest of the country. Hanley Wood predicts that national recovery will be in 2014.
While the level of distressed properties here is higher than in many markets, there are still more re-sales and new home sales than real-estate owned (REO), or foreclosure sales by banks and lenders.
“It’s Denver’s negative supply that we like about this market,” he said.
There was a time banks were out-selling builders by a 3-1 margin as the values of those distressed properties were, on average, 40 percent cheaper than other market homes, according to Smoke.
The ZIP codes with the strongest REO ratio are 80238 and 80230, both in Denver, and 80023 in Westminster. The two counties that have “turned the corner” and have the strongest housing market are Broomfield and Douglas, Smoke said, but only in Broomfield are builders selling more than banks.
As far as values, Denver homes have been selling at the same average price as 2005, though with much less volume, Smoke said.
“This was one of the only markets in the country where we saw this play out,” he said.
The top builders in the metro Denver area flipped in five years, with Richmond American Homes (the homebuilding brand of M.D.C. Holdings Inc. M.D.C. Holdings Inc.
“You just need to appreciate where you are in Denver, as compared to the rest of the country,” Smoke said. “We expect increases in Denver’s market next year, but it will be very slight. At least it’s not a decrease.”
October 27th, 2011
Denver ranks 10th out of the nation’s top 100 cities in the strength of its housing market, according to new data from market-intelligence firm Hanley Wood.
Denver achieved its ranking because its home values are holding steady, its foreclosed-homes inventory is dwindling, and its economy is stronger than most other markets.
“Denver is at the end of a long valley, but there’s still a slow, gradual recovery ahead,” said Jonathan Smoke, executive director of research for Costa Mesa, Calif.-based Hanley Wood. “The good news is, it’s not getting worse. Denver is right at the point of recovery.”
Smoke spoke Thursday at an “Intel for a Changing Market” event at the Hyatt Regency Denver Tech Center. The top-100 markets data is in the September issue of Builder magazine.
In a speech entitled “Adapt or Die,” Smoke laid out statistics showing how Denver’s market has gone through the worst, and is expected to continue to rebound — regardless of this being an average year for home building and sales.
“Despite this being an excellent time to buy [because of low interest rates and lower house values], people are just not buying,” Smoke said. “Denver definitely fits into that category.”
But the net demand for homes here exceeds the supply of new construction, Hanley Wood research shows. Home prices here have been moderate, and though there haven’t been any huge gains, the values have hit bottom and are moving up, Smoke said.
“It does not look this way in other parts of the country,” Smoke said. “I don’t enjoy these sessions in California.”
Denver’s economy is the key, he said, and is expected to recover jobs lost during the recession six months before the rest of the country. Hanley Wood predicts that national recovery will be in 2014.
While the level of distressed properties here is higher than in many markets, there are still more re-sales and new home sales than real-estate owned (REO), or foreclosure sales by banks and lenders.
“It’s Denver’s negative supply that we like about this market,” he said.
There was a time banks were out-selling builders by a 3-1 margin as the values of those distressed properties were, on average, 40 percent cheaper than other market homes, according to Smoke.
The ZIP codes with the strongest REO ratio are 80238 and 80230, both in Denver, and 80023 in Westminster. The two counties that have “turned the corner” and have the strongest housing market are Broomfield and Douglas, Smoke said, but only in Broomfield are builders selling more than banks.
As far as values, Denver homes have been selling at the same average price as 2005, though with much less volume, Smoke said.
“This was one of the only markets in the country where we saw this play out,” he said.
The top builders in the metro Denver area flipped in five years, with Richmond American Homes (the homebuilding brand of M.D.C. Holdings Inc. M.D.C. Holdings Inc.
“You just need to appreciate where you are in Denver, as compared to the rest of the country,” Smoke said. “We expect increases in Denver’s market next year, but it will be very slight. At least it’s not a decrease.”
Wednesday, October 26, 2011
Famous Haunted Property in Colorado-The Stanley Hotel-Estes Park, CO
The Stanley Hotel
From www.LegendsofAmerica.com
This old hotel was built in the early 1900's by F.O. Stanley, who created the Stanley Steam Engine -- a steam powered horseless carriage. The majestic Georgian style hotel opened in 1909, catering to the rich and famous.
Arriving in Colorado in 1903, Freelan Oscar Stanley (F.O.) and his wife Flora had been sent West by F.O. Stanley’s doctor to seek the fresh mountain air.
Stanley, who suffered tuberculosis, had been advised to not make plans beyond six months. The doctor arranged for the couple to stay in a friend’s cabin in Estes Park for the summer. Immediately, they fell in love with the area and F.O.’s health began to dramatically improve.
After spending the summer in the cabin, Flora wanted a home like the one she had left in Maine. Their home was built about one-half mile west of where the Stanley Hotel would later be built. Today the house is a private residence.
F.O. Stanley built the hotel on land that he purchased from the Irish Earl Lord Dunraven. Dunraven came to the area in 1872 while on a hunting trip. He built a hunting lodge, cabin and hotel for his guests and illegally homesteaded up to 6,000 acres in an unsuccessful attempt to create a private hunting preserve. Dunraven was finally run out of the area after trying to swindle folks out of their land and money.
In 1906, construction started on the Stanley Hotel. Wood and rock were obtained from the nearby mountains and the hotel was built in the Georgian architectural style, which experienced a revival in the early twentieth century. In 1909, the luxury hotel was complete, with no expense spared. Equipped with running water, electricity and telephones, the only amenity the hotel lacked was heat, as the hotel was designed as a summer resort.
The Stanley Hotel has hosted many "famous” guests including The Unsinkable Molly Brown, John Philip Sousa, Theodore Roosevelt, the Emperor and Empress of Japan, and a variety of Hollywood personalities. And, of course, the Stanley Hotel hosted Stephen King, whose experience inspired his book, "The Shining.”
In addition to its regular guests, the hotel is also said to play host to a number of other worldly visitors. The most notable is F.O. Stanley himself who is most often seen in the lobby and the Billiard Room, which was his favorite room when he was still alive. On one such occasion, he was said to have appeared during a tour group’s visit to the Billiard Room, materializing behind a member of the tour. Bartenders at the old hotel also report having seen F.O. stroll through the bar, disappearing when they try to cut him off at the kitchen.
Not to be left out, Flora Stanley also haunts the hotel, continuing to entertain guests with her piano playing in the ballroom.
Employees and guests have reported hearing music coming from the room, and when they take a peek in there, they can see the piano keys moving. However, as soon as someone walks across the thresh-hold to investigate further, the music stops and no more movement can be seen upon the keys of the piano.
There are several rooms in the hotel that seem to be particularly haunted. One is Room 407, which is said to sometimes be occupied by Lord Dunraven, who owned the land prior to F.O. Stanley. Reportedly, he likes to stand in the corner of the room near the bathroom door. On one such account, witnesses reported that a light in that corner kept turning on and off. While the light was off, they told the ghost that they knew that he was there, they would only be staying two nights, and would he please turn the light back on. The light turned back on. However, later when the lights were turned off and they were trying to sleep, noises were constantly heard from the nearby elevator during a time when the elevator was not in use. At other times, a ghostly face has been reported to be looking out the window of Room 407, when the room is not booked.
Room 418 gets the most reports of haunting activity apparently from children’s spirits. Cleaning crews report having heard many strange noises from the room, as well as seeing impressions on the bed when the room has been empty. When guests stay in the room, they often report that they hear children playing in the hallway at night. One couple reportedly checked out of the hotel very early in the morning, complaining that the children in the hallway kept them up all night. However, there were no children booked in the hotel at the time.
There have also been many reports by guests of haunting activities in Rooms 217 and 401.
Tour guides tell a story of the ghost of a small child who has been seen by many of the staff in various areas of the old hotel. Reportedly, Stephen King also saw the child, who was calling out to his nanny on the second floor. Other past employees report footsteps and apparitions seen throughout the building.
The Stanley Hotel is open year-round and is located at 333 Wonderview in Estes Park, Colorado.
Tuesday, October 25, 2011
Denver County 2011 Tax Sale Information
If you're looking for information on your county tax sales, go to your official county website and search the treasurers office for tax sales...if you're looking in Denver County See the information below to get the process started...
This is from the Treasurers Section of www.DenverGov.org
BIDDING RULES FOR THE TREASURER’S ANNUAL PUBLIC AUCTION OF REAL ESTATE TAX LIENS FOR TAX YEAR 2010
TREASURY DIVISION
CITY AND COUNTY OF DENVER
BIDDING RULES FOR THE TREASURER’S ANNUAL PUBLIC AUCTION OF REAL ESTATE TAX LIENS
FOR TAX YEAR 2010
LOCATION OF PUBLIC AUCTION
The Annual Public Auction will be conducted entirely by means of the internet at www.denvertaxsale.com.
DATE AND TIME OF PUBLIC AUCTION
Bidding will begin on November 1, 2011 at 8:00 a.m. M.D.T. and will close on November 4, 2011 at 5:00 p.m. M.D.T.
REGISTRATION/DEPOSITS
Buyers can register and make deposits beginning October 17, 2011 at www.denvertaxsale.com. Registration and deposits may be made until November 3, 2011 at 5:00 p.m. M.D.T. All deposits must be made in electronic funds transfer. Final determination regarding the acceptability of any deposit will be at the discretion of the Treasurer or his employees. Buyers are responsible to ensure the information on their registration is correct since certificates of purchase, redemption checks and refund checks are prepared from this information. Once registration is completed, a bidder number will be issued for bidding.
COMPUTER WORKSTATIONS
Access to computer workstations for bidding will be available in City and County of Denver, Treasury Division, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, Denver, Colorado between October 17, 2011 and November 8, 2011, between the hours of 8:00 a.m. M.D.T./M.S.T. and 5:00 p.m. M.D.T./M.S.T., Monday through Friday. Access will be on a first come first served basis.
UNPAID TAX LIST AND PUBLIC AUCTION
Publication of the unpaid tax list will be in alphabetical order by property owner name. The list will be published in The Denver Post on September 30, October 7, and 14. Taxes will be auctioned in parcel identification number order. The list of the unpaid taxes, in parcel identification number order, will be posted (1) at www.denvertaxsale.com beginning October 17, 2011 and (2) in Taxpayer Service Section of the Treasury Division for several days before the public auction. Each parcel will be offered for the amount of taxes, advertising, penalty interest, and fees and will be subject to general bidding.
BIDDING
In accordance with §39-11-115 (2) (c) and (d), C.R.S., minimum bids and bid increase increments are as follows:
· Bids will be accepted in the amount of the minimum with the first bid.
· The next bid will be increased by one dollar.
The bidding rules as well as instructions on accessing the public auction and submitting bids will be posted at www.denvertaxsale.com on October 17, 2011.
For bidding purposes, properties will be grouped in batches and sold in one hour increments beginning at 8:00 a.m. M.D.T. on November 4, 2011, and ending at 5:00 p.m. M.D.T. Items in each batch will be identified with a closing time.
Payment transfers that are rejected for any reason, including the lack of funds, may result in cancellation of the corresponding bid(s) and the Treasurer may prohibit a person who fails to pay the amount due from bidding on sales for up to five years under §39-11-116, C.R.S.
It is the bidder’s responsibility to know what is purchased. All successful bids are final. No changes in or cancellation of parcels purchased can be made after bidding is closed.
The certificate of purchase issued on a successful bid will show the legal description, purchase amount, and buyer’s name (as entered on registration form), interest rate, and date of sale. Buyers will be notified when their certificates are ready to be picked up. The City and County of Denver will keep them if the buyer wishes and provide copies.
Redemption interest is 10% per annum. If parcels are redeemed prior to delivery of certificates, redemption checks will be mailed to buyers and notations made on buyers’ lists of purchases.
Employees and officials of the City and County of Denver and members of their families are not allowed to purchase at the Denver Tax Lien Public Auction.
PLEASE NOTE! Delinquent Real Estate Tax payments must be received in our office by 4:30 p.m. M.D.T., Monday, October 31, 2011. Payments will not be accepted after that time without redemption interest. Payments will not be permitted during the Annual Public Auction of Real Estate Tax Liens.
Any questions regarding the Annual Public Auction should be directed to the Treasury Division, Taxpayer Service Section, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, 1st floor, Denver Colorado 80202, (720) 913-9300.
STEVEN L ELLINGTON
Treasurer
This is from the Treasurers Section of www.DenverGov.org
BIDDING RULES FOR THE TREASURER’S ANNUAL PUBLIC AUCTION OF REAL ESTATE TAX LIENS FOR TAX YEAR 2010
TREASURY DIVISION
CITY AND COUNTY OF DENVER
BIDDING RULES FOR THE TREASURER’S ANNUAL PUBLIC AUCTION OF REAL ESTATE TAX LIENS
FOR TAX YEAR 2010
LOCATION OF PUBLIC AUCTION
The Annual Public Auction will be conducted entirely by means of the internet at www.denvertaxsale.com.
DATE AND TIME OF PUBLIC AUCTION
Bidding will begin on November 1, 2011 at 8:00 a.m. M.D.T. and will close on November 4, 2011 at 5:00 p.m. M.D.T.
REGISTRATION/DEPOSITS
Buyers can register and make deposits beginning October 17, 2011 at www.denvertaxsale.com. Registration and deposits may be made until November 3, 2011 at 5:00 p.m. M.D.T. All deposits must be made in electronic funds transfer. Final determination regarding the acceptability of any deposit will be at the discretion of the Treasurer or his employees. Buyers are responsible to ensure the information on their registration is correct since certificates of purchase, redemption checks and refund checks are prepared from this information. Once registration is completed, a bidder number will be issued for bidding.
COMPUTER WORKSTATIONS
Access to computer workstations for bidding will be available in City and County of Denver, Treasury Division, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, Denver, Colorado between October 17, 2011 and November 8, 2011, between the hours of 8:00 a.m. M.D.T./M.S.T. and 5:00 p.m. M.D.T./M.S.T., Monday through Friday. Access will be on a first come first served basis.
UNPAID TAX LIST AND PUBLIC AUCTION
Publication of the unpaid tax list will be in alphabetical order by property owner name. The list will be published in The Denver Post on September 30, October 7, and 14. Taxes will be auctioned in parcel identification number order. The list of the unpaid taxes, in parcel identification number order, will be posted (1) at www.denvertaxsale.com beginning October 17, 2011 and (2) in Taxpayer Service Section of the Treasury Division for several days before the public auction. Each parcel will be offered for the amount of taxes, advertising, penalty interest, and fees and will be subject to general bidding.
BIDDING
In accordance with §39-11-115 (2) (c) and (d), C.R.S., minimum bids and bid increase increments are as follows:
· Bids will be accepted in the amount of the minimum with the first bid.
· The next bid will be increased by one dollar.
The bidding rules as well as instructions on accessing the public auction and submitting bids will be posted at www.denvertaxsale.com on October 17, 2011.
For bidding purposes, properties will be grouped in batches and sold in one hour increments beginning at 8:00 a.m. M.D.T. on November 4, 2011, and ending at 5:00 p.m. M.D.T. Items in each batch will be identified with a closing time.
Payment transfers that are rejected for any reason, including the lack of funds, may result in cancellation of the corresponding bid(s) and the Treasurer may prohibit a person who fails to pay the amount due from bidding on sales for up to five years under §39-11-116, C.R.S.
It is the bidder’s responsibility to know what is purchased. All successful bids are final. No changes in or cancellation of parcels purchased can be made after bidding is closed.
The certificate of purchase issued on a successful bid will show the legal description, purchase amount, and buyer’s name (as entered on registration form), interest rate, and date of sale. Buyers will be notified when their certificates are ready to be picked up. The City and County of Denver will keep them if the buyer wishes and provide copies.
Redemption interest is 10% per annum. If parcels are redeemed prior to delivery of certificates, redemption checks will be mailed to buyers and notations made on buyers’ lists of purchases.
Employees and officials of the City and County of Denver and members of their families are not allowed to purchase at the Denver Tax Lien Public Auction.
PLEASE NOTE! Delinquent Real Estate Tax payments must be received in our office by 4:30 p.m. M.D.T., Monday, October 31, 2011. Payments will not be accepted after that time without redemption interest. Payments will not be permitted during the Annual Public Auction of Real Estate Tax Liens.
Any questions regarding the Annual Public Auction should be directed to the Treasury Division, Taxpayer Service Section, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, 1st floor, Denver Colorado 80202, (720) 913-9300.
STEVEN L ELLINGTON
Treasurer
BBB Checklist for Winterizing Your Home
From www.bbb.org
With a tough economy looming like the Grinch over this year’s holiday season, many people are looking for ways to ensure their homes are ready for the cold winter months in an effort to save money through energy efficiency. Your Better Business Bureau is offering a checklist for homeowners to safely prepare their homes for winter and perhaps save a few dollars in the process.
According to the Energy Information Administration, home heating costs this winter are expected to rise by 23 percent for homeowners who rely on heating oil, 18 percent for homes relying on natural gas and 10-11 percent for homes heated by propane or electricity. Luckily, homeowners can fend off some of the rising energy costs by winterizing their home before the harshest weather takes hold.
“As if people needed some more bad news about high prices, high heating costs are the next hurdle for cash-strapped consumers, and yet another reason for homeowners to take steps to winterize their homes before the cold sets in,” said Steve Cox, BBB spokesperson. “Winterizing a home makes good economic sense because a small up-front investment can pay dividends for months by increasing the energy efficiency of a house and reducing overall heating costs.”
Following is a BBB home winterizing checklist for consumers to consult when preparing for the cold months ahead:
• Furnace. Furnaces older than 15 years might be due for a replacement. For younger furnaces, BBB recommends making sure the furnace filter is clean, the thermostat is working properly and the pilot light is functioning. Homeowners can also hire an inspector to do the job and make sure the furnace is in safe working order.
• Heating ducts. Ducts should be cleaned once every two years. Homeowners should also consider adding insulation to any exposed ductwork. According to the U.S. Department of Energy, a home with central heating can lose up to 60 percent of its heated air before that air reaches the vents if ductwork is not well-connected and insulated, or if it travels through unheated spaces.
• Chimney. Before lighting up, homeowners planning on using their fireplace come winter should have the chimney inspected for animals, debris and leaves that may have fallen in. BBB also recommends installing a screen over the chimney opening.
• Gutters and ridge vents. Gutters should be cleaned to prevent any clogs that would cause rainwater to back up and freeze, making the gutters expand and crack. The ridge vents need to be cleaned as well in order to allow the house to "breath" correctly. Otherwise, air will stagnate and create an unhealthy environment.
• Smoke alarm and carbon monoxide detectors. BBB recommends testing smoke alarms and carbon monoxide detectors and installing fresh batteries. Homeowners should consider replacing smoke alarms older than 10 years.
• Caulking and Weather Stripping. The average American home has air leaks that amount to a nine-square-foot hole in the wall, according to the EarthWorks Group. To prevent leaks, homeowners should inspect the caulking around windows and doors and check for cracking and peeling. In addition, BBB recommends ensuring that doors and windows shut tightly and no cold air is coming in due to worn down weather stripping.
• Seasonal equipment. Homeowners won’t need their spring and summer equipment for a few months, so BBB recommends draining the water from garden hoses and air conditioner pipes and the gasoline from the lawnmower and other garden tools. It’s also time to pull out the snow shovels and plows and ensure they are in good repair.
• Emergency kit. When a winter storm strikes, an emergency kit should have all essential materials in one handy place. An emergency kit should include flashlights, candles and matches, a first aid kit, bottled water, non-perishable food and a battery-powered radio. BBB recommends creating the same emergency kit for the car as well, including a couple blankets.
With a tough economy looming like the Grinch over this year’s holiday season, many people are looking for ways to ensure their homes are ready for the cold winter months in an effort to save money through energy efficiency. Your Better Business Bureau is offering a checklist for homeowners to safely prepare their homes for winter and perhaps save a few dollars in the process.
According to the Energy Information Administration, home heating costs this winter are expected to rise by 23 percent for homeowners who rely on heating oil, 18 percent for homes relying on natural gas and 10-11 percent for homes heated by propane or electricity. Luckily, homeowners can fend off some of the rising energy costs by winterizing their home before the harshest weather takes hold.
“As if people needed some more bad news about high prices, high heating costs are the next hurdle for cash-strapped consumers, and yet another reason for homeowners to take steps to winterize their homes before the cold sets in,” said Steve Cox, BBB spokesperson. “Winterizing a home makes good economic sense because a small up-front investment can pay dividends for months by increasing the energy efficiency of a house and reducing overall heating costs.”
Following is a BBB home winterizing checklist for consumers to consult when preparing for the cold months ahead:
• Furnace. Furnaces older than 15 years might be due for a replacement. For younger furnaces, BBB recommends making sure the furnace filter is clean, the thermostat is working properly and the pilot light is functioning. Homeowners can also hire an inspector to do the job and make sure the furnace is in safe working order.
• Heating ducts. Ducts should be cleaned once every two years. Homeowners should also consider adding insulation to any exposed ductwork. According to the U.S. Department of Energy, a home with central heating can lose up to 60 percent of its heated air before that air reaches the vents if ductwork is not well-connected and insulated, or if it travels through unheated spaces.
• Chimney. Before lighting up, homeowners planning on using their fireplace come winter should have the chimney inspected for animals, debris and leaves that may have fallen in. BBB also recommends installing a screen over the chimney opening.
• Gutters and ridge vents. Gutters should be cleaned to prevent any clogs that would cause rainwater to back up and freeze, making the gutters expand and crack. The ridge vents need to be cleaned as well in order to allow the house to "breath" correctly. Otherwise, air will stagnate and create an unhealthy environment.
• Smoke alarm and carbon monoxide detectors. BBB recommends testing smoke alarms and carbon monoxide detectors and installing fresh batteries. Homeowners should consider replacing smoke alarms older than 10 years.
• Caulking and Weather Stripping. The average American home has air leaks that amount to a nine-square-foot hole in the wall, according to the EarthWorks Group. To prevent leaks, homeowners should inspect the caulking around windows and doors and check for cracking and peeling. In addition, BBB recommends ensuring that doors and windows shut tightly and no cold air is coming in due to worn down weather stripping.
• Seasonal equipment. Homeowners won’t need their spring and summer equipment for a few months, so BBB recommends draining the water from garden hoses and air conditioner pipes and the gasoline from the lawnmower and other garden tools. It’s also time to pull out the snow shovels and plows and ensure they are in good repair.
• Emergency kit. When a winter storm strikes, an emergency kit should have all essential materials in one handy place. An emergency kit should include flashlights, candles and matches, a first aid kit, bottled water, non-perishable food and a battery-powered radio. BBB recommends creating the same emergency kit for the car as well, including a couple blankets.
Selling 'as is' isn't as easy as it seems
Selling 'as is' isn't as easy as it seems
Bankrate.com
Highlights
Buyers assume an as-is home is in lousy condition and needs work.
Selling as is generally doesn't release sellers from state disclosure laws.
It might be better to pay for repairs than accept a rock-bottom price.
Selling a home as is can save repair dollars, but the sales tactic has risks and other considerations sellers should keep in mind.
The main danger of selling a home as is comes from the possibility it will fetch a rock-bottom price. Sometimes, but not all the time, it's more cost-effective to pay for repairs to merit a higher purchase price.
Sellers can advertise their home any way they choose, whether that means as is, willing to make repairs or no comment on the subject, says Patti Ketcham, owner of Ketcham Realty Group in Tallahassee, Fla.
Some sellers don't want to make repairs because they have lived in the home themselves for a long time and don't see the need for improvements, Ketcham says.
"The house is held together with duct tape," she says, "and it's worked fine for them for 45 years, so (they're thinking), 'Why in the world would I need to put in granite countertops?'"
Other sellers are upside-down or underwater -- they owe more on the mortgage than the home is worth, says Jan Baron, a Realtor at HomeSmart Real Estate in Temecula, Calif. These sellers need the lender's permission to close a short sale, and because they expect to lose money on the deal, they're in no mood to pay for repairs.
Virtually all bank-owned homes are sold as is, though in those cases, the stipulation is more about responsibility than the repairs themselves.
"Banks are more worried about the liability," Baron says, "though they don't want to make any repairs they don't have to. The short sellers are thinking more about that they don't want to pay out of pocket because they don't have the money."
Buyers can negotiate for repairs
Moreover, an as-is sale doesn't mean buyers won't try to negotiate repairs because the home's condition, like the sale price, is subject to negotiation regardless of how the property is advertised. In fact, Ketcham says she advises buyers to make an offer on terms they prefer rather than what the seller wants. Just because a house is advertised as is does not necessarily mean it will be sold under that stipulation.
Many states require sellers to make disclosures about a home's condition to prospective buyers, says Joanne Fanizza, a real estate attorney in Farmingdale, N.Y. An as-is sale generally doesn't erase such obligations as much as sellers might wish it did.
Nor does as is mean the buyer will waive a home inspection. Ketcham says sellers can try to head off buyers' demands by getting an inspection before they put their home on the market and using that to price the property and inform prospective buyers of what will and will not be repaired.
"It puts your house in a category way above all the other houses buyers have to look at if you've already had the inspection done," she says.
As is may mean lower sale price
The biggest risk of an as-is sale is a lower sale price. For sellers who have no equity, this trade-off is irrelevant. But for those who expect a profit, it should be a real consideration.
The lower sale price occurs because some buyers will avoid any house being sold as is. First-timers in particular may be unable or unwilling to make repairs or fearful of such tasks, says David Tamny, owner of Professional Property Inspection in Columbus, Ohio.
"People are attracted to an as-is property because they see that house as being (priced) below what it maybe was worth a number of years ago, but once they find out (it needs repairs), it's not really so attractive to them," he says. "They don't have money for repairs, and they don't necessarily have the skill set to make repairs."
"As is" carries a stigma, Tamny says, since the term suggests the house is in poor condition.
"Most houses that are sold as is are sold as is for a reason," he says. "Something is wrong with it usually, and the sellers know they can't deal with it."
The bottom line is that today's housing markets are competitive, and buyers will choose another home if they're suspicious of the seller's motivations, or they believe a home isn't a good deal based on its location, price and condition.
"If you're selling," Ketcham says, "your house has to be priced a little better than the other four houses the buyer will look at that same day."
Bankrate.com
Highlights
Buyers assume an as-is home is in lousy condition and needs work.
Selling as is generally doesn't release sellers from state disclosure laws.
It might be better to pay for repairs than accept a rock-bottom price.
Selling a home as is can save repair dollars, but the sales tactic has risks and other considerations sellers should keep in mind.
The main danger of selling a home as is comes from the possibility it will fetch a rock-bottom price. Sometimes, but not all the time, it's more cost-effective to pay for repairs to merit a higher purchase price.
Sellers can advertise their home any way they choose, whether that means as is, willing to make repairs or no comment on the subject, says Patti Ketcham, owner of Ketcham Realty Group in Tallahassee, Fla.
Some sellers don't want to make repairs because they have lived in the home themselves for a long time and don't see the need for improvements, Ketcham says.
"The house is held together with duct tape," she says, "and it's worked fine for them for 45 years, so (they're thinking), 'Why in the world would I need to put in granite countertops?'"
Other sellers are upside-down or underwater -- they owe more on the mortgage than the home is worth, says Jan Baron, a Realtor at HomeSmart Real Estate in Temecula, Calif. These sellers need the lender's permission to close a short sale, and because they expect to lose money on the deal, they're in no mood to pay for repairs.
Virtually all bank-owned homes are sold as is, though in those cases, the stipulation is more about responsibility than the repairs themselves.
"Banks are more worried about the liability," Baron says, "though they don't want to make any repairs they don't have to. The short sellers are thinking more about that they don't want to pay out of pocket because they don't have the money."
Buyers can negotiate for repairs
Moreover, an as-is sale doesn't mean buyers won't try to negotiate repairs because the home's condition, like the sale price, is subject to negotiation regardless of how the property is advertised. In fact, Ketcham says she advises buyers to make an offer on terms they prefer rather than what the seller wants. Just because a house is advertised as is does not necessarily mean it will be sold under that stipulation.
Many states require sellers to make disclosures about a home's condition to prospective buyers, says Joanne Fanizza, a real estate attorney in Farmingdale, N.Y. An as-is sale generally doesn't erase such obligations as much as sellers might wish it did.
Nor does as is mean the buyer will waive a home inspection. Ketcham says sellers can try to head off buyers' demands by getting an inspection before they put their home on the market and using that to price the property and inform prospective buyers of what will and will not be repaired.
"It puts your house in a category way above all the other houses buyers have to look at if you've already had the inspection done," she says.
As is may mean lower sale price
The biggest risk of an as-is sale is a lower sale price. For sellers who have no equity, this trade-off is irrelevant. But for those who expect a profit, it should be a real consideration.
The lower sale price occurs because some buyers will avoid any house being sold as is. First-timers in particular may be unable or unwilling to make repairs or fearful of such tasks, says David Tamny, owner of Professional Property Inspection in Columbus, Ohio.
"People are attracted to an as-is property because they see that house as being (priced) below what it maybe was worth a number of years ago, but once they find out (it needs repairs), it's not really so attractive to them," he says. "They don't have money for repairs, and they don't necessarily have the skill set to make repairs."
"As is" carries a stigma, Tamny says, since the term suggests the house is in poor condition.
"Most houses that are sold as is are sold as is for a reason," he says. "Something is wrong with it usually, and the sellers know they can't deal with it."
The bottom line is that today's housing markets are competitive, and buyers will choose another home if they're suspicious of the seller's motivations, or they believe a home isn't a good deal based on its location, price and condition.
"If you're selling," Ketcham says, "your house has to be priced a little better than the other four houses the buyer will look at that same day."
Feds broaden program to help struggling homeowners
Denver Business Journal
Date: Monday, October 24, 2011, 11:05am MDT
The Obama administration on Monday rolled out changes to a program aimed at enabling more “underwater” homeowners to refinance at today’s low rates.
An earlier version of the “Home Affordable Refinance Program” (HARP) was rolled out in 2009 and has fallen far short of the number of people it was supposed to help.
The Federal Housing Finance Agency (FHFA) estimates up to 1 million borrowers will use the revised program.
The changes will now let mortgage holders refinance no matter how much value their homes have lost, eliminating previous limits.
The plan would streamline the refinance process by eliminating appraisals and extensive underwriting requirements for most borrowers, as long as homeowners are current on their mortgage payments.
Only mortgages backed by Fannie Mae Fannie Mae
Latest from The Business Journals
Obama mortgage plan could lift burdens on banks
New Phoenix ads jab at Romney over foreclosures
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Follow this company and Freddie Mac Freddie Mac
Latest from The Business Journals
Obama mortgage plan could lift burdens on banks
New Phoenix ads jab at Romney over foreclosures
Feds broaden HARP to help underwater homeowners
Follow this company will be eligible.
A key hurdle for the U.S. economic recovery has been a sluggish housing market as many homeowners can’t refinance.
Date: Monday, October 24, 2011, 11:05am MDT
The Obama administration on Monday rolled out changes to a program aimed at enabling more “underwater” homeowners to refinance at today’s low rates.
An earlier version of the “Home Affordable Refinance Program” (HARP) was rolled out in 2009 and has fallen far short of the number of people it was supposed to help.
The Federal Housing Finance Agency (FHFA) estimates up to 1 million borrowers will use the revised program.
The changes will now let mortgage holders refinance no matter how much value their homes have lost, eliminating previous limits.
The plan would streamline the refinance process by eliminating appraisals and extensive underwriting requirements for most borrowers, as long as homeowners are current on their mortgage payments.
Only mortgages backed by Fannie Mae Fannie Mae
Latest from The Business Journals
Obama mortgage plan could lift burdens on banks
New Phoenix ads jab at Romney over foreclosures
Feds broaden HARP to help underwater homeowners
Follow this company and Freddie Mac Freddie Mac
Latest from The Business Journals
Obama mortgage plan could lift burdens on banks
New Phoenix ads jab at Romney over foreclosures
Feds broaden HARP to help underwater homeowners
Follow this company will be eligible.
A key hurdle for the U.S. economic recovery has been a sluggish housing market as many homeowners can’t refinance.
Boulder tops list of happiest cities
9News
10.26.11
BOULDER - Look no further than Boulder, Colorado for people who say they are the happiest in the nation, according to a recent survey by National Geographic.
Boulder residents told surveyors they are happier on a scale of 1 to 10 than people responded in any place else in America. That comes from the Gallup Healthways Well Being Index, which asked 1.4 million Americans the question, "How Happy Are you?"
Many factors play into Boulder's happiness, including access to the outdoors, overall quality of life and a relative balance of high technology use and low-tech down time.
"Social networks and TV do bring us a little bit of happiness, but it peaks at about 45 minutes. If we're spending more than that watching TV, we're probably doing it at the expense of more authentic sort of happiness, like socializing, like volunteering, like doing our hobbies, like staying in shape," said National Geographic author and speaker Dan Buettner. Buettner's book "Thrive: Finding Happiness The Blue Zones Way" explores the keys to happiness.
He suggests the best way to keep your kids happy is to never allow TVs in the bedrooms as well as to keep it behind an entertainment center door or in an out-of-the-way place to prevent screen time overload and to keep TV as an intentional thing rather than reflexive activity. Smart phone overload can also detract from one's overall well-being aside from occasional, intellectual-driven usage to learn something or look up a fact.
Sleep is also another big factor in overall happiness. Americans sleep a little over six hours a night, while the happiest people in the country sleep a little more than eight hours a night. Folks who are just hitting the average are losing about a third of the happiness they could be experiencing with a little more than those who get more than eight hours.
Sexual activity plays a big role in the happiness of survey respondents. The grumpiest people, or least-happiest people in the country, rarely if ever have sexual relations. Meanwhile, the happiest respondents reported having sex multiple times a day.
Finally, music plays a big part in helping people stay happy. The happy zone, or time frame to keep people happiest, is with at least two or more hours of music per day.
10.26.11
BOULDER - Look no further than Boulder, Colorado for people who say they are the happiest in the nation, according to a recent survey by National Geographic.
Boulder residents told surveyors they are happier on a scale of 1 to 10 than people responded in any place else in America. That comes from the Gallup Healthways Well Being Index, which asked 1.4 million Americans the question, "How Happy Are you?"
Many factors play into Boulder's happiness, including access to the outdoors, overall quality of life and a relative balance of high technology use and low-tech down time.
"Social networks and TV do bring us a little bit of happiness, but it peaks at about 45 minutes. If we're spending more than that watching TV, we're probably doing it at the expense of more authentic sort of happiness, like socializing, like volunteering, like doing our hobbies, like staying in shape," said National Geographic author and speaker Dan Buettner. Buettner's book "Thrive: Finding Happiness The Blue Zones Way" explores the keys to happiness.
He suggests the best way to keep your kids happy is to never allow TVs in the bedrooms as well as to keep it behind an entertainment center door or in an out-of-the-way place to prevent screen time overload and to keep TV as an intentional thing rather than reflexive activity. Smart phone overload can also detract from one's overall well-being aside from occasional, intellectual-driven usage to learn something or look up a fact.
Sleep is also another big factor in overall happiness. Americans sleep a little over six hours a night, while the happiest people in the country sleep a little more than eight hours a night. Folks who are just hitting the average are losing about a third of the happiness they could be experiencing with a little more than those who get more than eight hours.
Sexual activity plays a big role in the happiness of survey respondents. The grumpiest people, or least-happiest people in the country, rarely if ever have sexual relations. Meanwhile, the happiest respondents reported having sex multiple times a day.
Finally, music plays a big part in helping people stay happy. The happy zone, or time frame to keep people happiest, is with at least two or more hours of music per day.
Thursday, October 20, 2011
Best day to list real estate for sale: Friday
Best day to list real estate for sale: Friday
Redfin study: day of the week may make a difference
By Inman News
Sellers should list their home on a Friday for the best chance of selling it, according to Seattle-based brokerage Redfin.
Redfin analyzed data for 1.2 million listings in 16 markets nationwide over the past 21 months. The brokerage found that of all listed homes in those 16 markets, those listed on a Friday were 12 percent more likely to sell within 90 days, and homes listed on a Thursday or Friday sold, on average, for slightly closer to list price: 94.4 percent compared with 93.9 percent when homes are listed on a Sunday or Monday. Put another way, that's a $1,000 difference on a $200,000 home.
Homes listed on a Friday were also 18.8 percent more likely to be toured by Redfin customers. Homes listed on a Sunday or Monday were the least likely to be toured.
"Our theory is that since homebuyers tend to tour homes on the weekends (Saturday and Sunday have 2.5 times more tours per day than weekdays), homes listed on Fridays are the freshest in buyers' minds when they're making their weekend plans. It also seems likely that many homebuyers sort their weekend 'must see' lists by date listed, going to see the freshest homes first so they have the best chance of getting in on a potential good deal before other buyers," the brokerage said in a blog post about the findings.
"These factors put homes listed on Friday in front of more touring buyers on the weekend (which our touring data bears out). More tours leads to more offers, and more offers leads to a better price and a better chance of selling."
In one respect, Sunday beat out any other day of the week: Homes listed on Sunday attracted slightly more online page views than the average on Redfin.com.
While the vast majority of homes are listed on weekdays, no one weekday was especially popular, with between 17 percent and 19 percent of homes listed on any given weekday. About 19 percent of homes were listed on a Friday during the time period studied, Redfin reported.
Redfin study: day of the week may make a difference
By Inman News
Sellers should list their home on a Friday for the best chance of selling it, according to Seattle-based brokerage Redfin.
Redfin analyzed data for 1.2 million listings in 16 markets nationwide over the past 21 months. The brokerage found that of all listed homes in those 16 markets, those listed on a Friday were 12 percent more likely to sell within 90 days, and homes listed on a Thursday or Friday sold, on average, for slightly closer to list price: 94.4 percent compared with 93.9 percent when homes are listed on a Sunday or Monday. Put another way, that's a $1,000 difference on a $200,000 home.
Homes listed on a Friday were also 18.8 percent more likely to be toured by Redfin customers. Homes listed on a Sunday or Monday were the least likely to be toured.
"Our theory is that since homebuyers tend to tour homes on the weekends (Saturday and Sunday have 2.5 times more tours per day than weekdays), homes listed on Fridays are the freshest in buyers' minds when they're making their weekend plans. It also seems likely that many homebuyers sort their weekend 'must see' lists by date listed, going to see the freshest homes first so they have the best chance of getting in on a potential good deal before other buyers," the brokerage said in a blog post about the findings.
"These factors put homes listed on Friday in front of more touring buyers on the weekend (which our touring data bears out). More tours leads to more offers, and more offers leads to a better price and a better chance of selling."
In one respect, Sunday beat out any other day of the week: Homes listed on Sunday attracted slightly more online page views than the average on Redfin.com.
While the vast majority of homes are listed on weekdays, no one weekday was especially popular, with between 17 percent and 19 percent of homes listed on any given weekday. About 19 percent of homes were listed on a Friday during the time period studied, Redfin reported.
Tuesday, October 18, 2011
10 states ranked by high, low homeownership rates
10 states ranked by high, low homeownership rates
From AOL Real Estate: Share ranges from 53% to 73%
October 18, 2011
By Inman News
The dream of owning a home has become increasingly unattainable for many Americans, and the situation is not likely to improve soon, as the collapse of the housing market and the recession continue to take their toll.
That is the disturbing conclusion to be drawn from the U.S. Census Bureau's newly released report, "Housing Characteristics: 2010," an overview of the national home market at the end of the last decade.
One of the highlights of the report is a list of the states that have the highest and lowest percentage of homes occupied by their owners.
A review of the data by 24/7 Wall St., which offers analysis and insight for equity investors, found that homeownership rates were high in thinly populated states and those with low home prices, while homeownership was low in states with expensive homes and large cities.
5 states with highest homeownership rates
1. West Virginia
2. Minnesota
3. Michigan
4. Iowa
5. Delaware
5 states with lowest homeownership rates
1. New York
2. California
3. Hawaii
4. Nevada
5. Rhode Island
The swing between the states with the highest and lowest homeownership is extraordinary. Just over 53 percent of the people in New York state own homes. At the other end of the spectrum is West Virginia, with a homeownership rate above 73 percent. In addition to New York City, New York state includes the relatively large cities of Rochester, Buffalo, Syracuse and Albany. In West Virginia, by contrast, the two largest cities -- Charleston and Huntington -- are barely cities at all.
Together, they have just over 100,000 people in a state with 1.9 million residents. For this article, 24/7 Wall St. has primarily considered cities' metropolitan areas, which are cities and their adjacent communities that, according to the Census Bureau, "have a high degree of economic and social integration" with the cities.
According to the report, in the last decade, homeownership in the U.S. dropped the most since 1940. The postwar housing boom lasted for over half a century as increased construction and liberal lending practices made homes affordable to a large majority of Americans.
Subprime mortgages stretched that ease of availability to the breaking point. When the market collapsed, so did the ability of many Americans to own homes because of tighter lending practices and fears that the market still has much further to fall.
The pattern of homeownership will probably not change much in the years ahead. People in large cities have opportunities to rent not available in suburban and rural areas. Home prices are low in states where the number of people per square mile is low. There is little supply in these states, but their populations are not large enough to create excessive demand.
The American dream of homeownership may have peaked around 2000. Much of the U.S. population is still in a struggle with high debt and stagnant income. And job security may not return to pre-recession levels for a number of years. Even if the reasons to own a home return with rising prices, the ability to buy one may not.
From AOL Real Estate: Share ranges from 53% to 73%
October 18, 2011
By Inman News
The dream of owning a home has become increasingly unattainable for many Americans, and the situation is not likely to improve soon, as the collapse of the housing market and the recession continue to take their toll.
That is the disturbing conclusion to be drawn from the U.S. Census Bureau's newly released report, "Housing Characteristics: 2010," an overview of the national home market at the end of the last decade.
One of the highlights of the report is a list of the states that have the highest and lowest percentage of homes occupied by their owners.
A review of the data by 24/7 Wall St., which offers analysis and insight for equity investors, found that homeownership rates were high in thinly populated states and those with low home prices, while homeownership was low in states with expensive homes and large cities.
5 states with highest homeownership rates
1. West Virginia
2. Minnesota
3. Michigan
4. Iowa
5. Delaware
5 states with lowest homeownership rates
1. New York
2. California
3. Hawaii
4. Nevada
5. Rhode Island
The swing between the states with the highest and lowest homeownership is extraordinary. Just over 53 percent of the people in New York state own homes. At the other end of the spectrum is West Virginia, with a homeownership rate above 73 percent. In addition to New York City, New York state includes the relatively large cities of Rochester, Buffalo, Syracuse and Albany. In West Virginia, by contrast, the two largest cities -- Charleston and Huntington -- are barely cities at all.
Together, they have just over 100,000 people in a state with 1.9 million residents. For this article, 24/7 Wall St. has primarily considered cities' metropolitan areas, which are cities and their adjacent communities that, according to the Census Bureau, "have a high degree of economic and social integration" with the cities.
According to the report, in the last decade, homeownership in the U.S. dropped the most since 1940. The postwar housing boom lasted for over half a century as increased construction and liberal lending practices made homes affordable to a large majority of Americans.
Subprime mortgages stretched that ease of availability to the breaking point. When the market collapsed, so did the ability of many Americans to own homes because of tighter lending practices and fears that the market still has much further to fall.
The pattern of homeownership will probably not change much in the years ahead. People in large cities have opportunities to rent not available in suburban and rural areas. Home prices are low in states where the number of people per square mile is low. There is little supply in these states, but their populations are not large enough to create excessive demand.
The American dream of homeownership may have peaked around 2000. Much of the U.S. population is still in a struggle with high debt and stagnant income. And job security may not return to pre-recession levels for a number of years. Even if the reasons to own a home return with rising prices, the ability to buy one may not.
Monday, October 17, 2011
Top 10 U.S. areas with rising real estate prices
West Virginia leads list with 8.6% year-over-year growth in August
By Inman News, Friday, October 7, 2011.
Home prices increased in 12 states and Washington, D.C., on a year-over-year basis in August, according to a home-price report released this week by property data firm CoreLogic.
West Virginia led all states with an 8.6 percent rise in home prices, followed by Wyoming at 3.6 percent, and North Dakota at 3.5 percent. The CoreLogic Home Price Index tracks price changes in repeat sales of homes.
CoreLogic August Home Price Index (year-over-year change)
State/district All single-family Excluding distressed sales
West Virginia 8.6% 10.7%
Wyoming 3.6% 2.4%
North Dakota 3.5% 4.2%
New York 3.2% 3.6%
Alaska 2.2% 3.1%
South Dakota 1.5% 0.6%
Washington, D.C.1.3% 1%
Nebraska 1.1% 1.1%
Kansas 1% 3.7%
Indiana 0.8% 2.2%
By Inman News, Friday, October 7, 2011.
Home prices increased in 12 states and Washington, D.C., on a year-over-year basis in August, according to a home-price report released this week by property data firm CoreLogic.
West Virginia led all states with an 8.6 percent rise in home prices, followed by Wyoming at 3.6 percent, and North Dakota at 3.5 percent. The CoreLogic Home Price Index tracks price changes in repeat sales of homes.
CoreLogic August Home Price Index (year-over-year change)
State/district All single-family Excluding distressed sales
West Virginia 8.6% 10.7%
Wyoming 3.6% 2.4%
North Dakota 3.5% 4.2%
New York 3.2% 3.6%
Alaska 2.2% 3.1%
South Dakota 1.5% 0.6%
Washington, D.C.1.3% 1%
Nebraska 1.1% 1.1%
Kansas 1% 3.7%
Indiana 0.8% 2.2%
Tuesday, October 11, 2011
Liberty’s Malone is largest U.S. landowner
Denver Post
10.11.2011
Media magnate John Malone tops the The Land Report’s annual list of America’s largest landowners, bumping CNN founder Ted Turner into the No. 2 position.
Malone, chairman of Douglas County-based Liberty Media, ousted Turner when he purchased more than 1 million acres of timberland in Maine and New Hampshire earlier this year, giving him holdings totaling 2.2 million acres.
Turner owns more than 2 million acres, according to the 2011 Land Report 100. He had been the largest individual landowner since the 1990s, the magazine’s editors said.
The 2011 Land Report 100, presented by Fay Ranches, is an annual survey of the largest private U.S. landowners. It excludes any leased and/or public lands and focuses on deeded acreage owned by individuals, families, family-owned companies and family-controlled foundations.
10.11.2011
Media magnate John Malone tops the The Land Report’s annual list of America’s largest landowners, bumping CNN founder Ted Turner into the No. 2 position.
Malone, chairman of Douglas County-based Liberty Media, ousted Turner when he purchased more than 1 million acres of timberland in Maine and New Hampshire earlier this year, giving him holdings totaling 2.2 million acres.
Turner owns more than 2 million acres, according to the 2011 Land Report 100. He had been the largest individual landowner since the 1990s, the magazine’s editors said.
The 2011 Land Report 100, presented by Fay Ranches, is an annual survey of the largest private U.S. landowners. It excludes any leased and/or public lands and focuses on deeded acreage owned by individuals, families, family-owned companies and family-controlled foundations.
Monday, October 3, 2011
10 Most Walkable Cities of 2011
another interesting article....
10 Most Walkable Cities of 2011
www.thestreet.com
By Jason Notte
NEW YORK (TheStreet) -- Living within a quick drive of work, the store, school or public transportation is nice, but only having all of those items a few blocks away makes your neighborhood "walkable."
The people behind Walk Score, a Seattle-based service that rates the convenience and transit access of 10,000 neighborhoods in 2,500 cities, have spent the past four years judging the distance between residents and amenities and ranking places based on the results. That "walkability" led to the first set of rankings in 2008 and the use of those rankings by more than 10,000 cities, civic organizations and real estate groups in the years that followed.
It also helped increase emphasis on the elements that make a city walkable. Walk Score's ideal neighborhoods have either a main street or public space at the center, enough people to keep public transit running frequently and a good mix of housing and businesses. Parks and other public spaces make up a large part of the equation, as do amenities designed around pedestrians, nearby schools and workplaces and "complete streets" designed for pedestrians, cyclists and transit. Children don't shoot hoops in cul de sacs in walkable cities.
"Very often, you'll see a good pedestrian design with sidewalks and crosswalks that make a city more accessible and walkable," says Josh Herst, chief executive of Walk Score. "Even in cities that on the whole aren't that walkable, there are neighborhoods that are great places to walk."
It's an idea that's already caught on in U.S. cities, where public transportation systems have grown from little more than 1,000 in 1980 to 7,700 in 2009, when the American Public Transportation Association public transit advocacy group last took stock. From 1995 to 2008, the APTA says public transportation ridership increased by 38% as the highways system grew 21% and the U.S. population 14% during the same period. Even Walk Score had to catch up and didn't start tracking the proximity and value of transit service in more than 120 cities with its Transit Score system until August.
"In quite a few cities for quite a few reasons, including a desire to promote sustainability and public health and a number of economic benefits, we've seen interest in walkability continue to grow," Herst says. "We know that some communities are looking at Transit Score and doing some what-if analysis like 'If you added light rail service down this corridor, how much would that change the transit score for how many people?'"
The convenience is lovely, but U.S. homebuyers are going to need the pot sweetened a bit more if they're going to be convinced to give up cars and yard space for noise and density. A CEOs For Cities study based on Walk Score data insists that a walkable neighborhood adds an average $3,000 to a home's selling price. The APTA raises the stakes by noting that households more likely to use public transportation save more than $8,400, while households that use public transportation and live with one less car save an average of $9,000 annually.
If bribery doesn't work, threats just might. University of British Columbia professor Lawrence Frank found that residents of walkable neighborhoods tend to be at least seven pounds lighter than their counterparts in more sprawling areas.
For a glimpse of what life is like in walkable America, TheStreet offers a look at Walk Score's Top 10 most walkable cities of 2011 and the amenity-packed neighborhoods that made the difference:
10. Oakland, CA
9. Minneapolis, MN
8. Miami, FL
7. Washington, D.C.
6. Seattle, WA
5. Philadelphia, PA
4. Chicago, IL
3. Boston, MA
2. San Francisco, CA
1. New York, NY
10 Most Walkable Cities of 2011
www.thestreet.com
By Jason Notte
NEW YORK (TheStreet) -- Living within a quick drive of work, the store, school or public transportation is nice, but only having all of those items a few blocks away makes your neighborhood "walkable."
The people behind Walk Score, a Seattle-based service that rates the convenience and transit access of 10,000 neighborhoods in 2,500 cities, have spent the past four years judging the distance between residents and amenities and ranking places based on the results. That "walkability" led to the first set of rankings in 2008 and the use of those rankings by more than 10,000 cities, civic organizations and real estate groups in the years that followed.
It also helped increase emphasis on the elements that make a city walkable. Walk Score's ideal neighborhoods have either a main street or public space at the center, enough people to keep public transit running frequently and a good mix of housing and businesses. Parks and other public spaces make up a large part of the equation, as do amenities designed around pedestrians, nearby schools and workplaces and "complete streets" designed for pedestrians, cyclists and transit. Children don't shoot hoops in cul de sacs in walkable cities.
"Very often, you'll see a good pedestrian design with sidewalks and crosswalks that make a city more accessible and walkable," says Josh Herst, chief executive of Walk Score. "Even in cities that on the whole aren't that walkable, there are neighborhoods that are great places to walk."
It's an idea that's already caught on in U.S. cities, where public transportation systems have grown from little more than 1,000 in 1980 to 7,700 in 2009, when the American Public Transportation Association public transit advocacy group last took stock. From 1995 to 2008, the APTA says public transportation ridership increased by 38% as the highways system grew 21% and the U.S. population 14% during the same period. Even Walk Score had to catch up and didn't start tracking the proximity and value of transit service in more than 120 cities with its Transit Score system until August.
"In quite a few cities for quite a few reasons, including a desire to promote sustainability and public health and a number of economic benefits, we've seen interest in walkability continue to grow," Herst says. "We know that some communities are looking at Transit Score and doing some what-if analysis like 'If you added light rail service down this corridor, how much would that change the transit score for how many people?'"
The convenience is lovely, but U.S. homebuyers are going to need the pot sweetened a bit more if they're going to be convinced to give up cars and yard space for noise and density. A CEOs For Cities study based on Walk Score data insists that a walkable neighborhood adds an average $3,000 to a home's selling price. The APTA raises the stakes by noting that households more likely to use public transportation save more than $8,400, while households that use public transportation and live with one less car save an average of $9,000 annually.
If bribery doesn't work, threats just might. University of British Columbia professor Lawrence Frank found that residents of walkable neighborhoods tend to be at least seven pounds lighter than their counterparts in more sprawling areas.
For a glimpse of what life is like in walkable America, TheStreet offers a look at Walk Score's Top 10 most walkable cities of 2011 and the amenity-packed neighborhoods that made the difference:
10. Oakland, CA
9. Minneapolis, MN
8. Miami, FL
7. Washington, D.C.
6. Seattle, WA
5. Philadelphia, PA
4. Chicago, IL
3. Boston, MA
2. San Francisco, CA
1. New York, NY
Where to Live Like the Wealthy Do for Less
Interesting article...
Where to Live Like the Wealthy Do for Less
By Jason Notte, The Street
September 29, 2011
Real estate's Champagne wishes and caviar dreams are waking to a stingy, jobless reality of metropolitan moochers posing as the wealthy.
The U.S. is at 9.2% unemployment and conspicuous housing consumption is constricted by tightening loan requirements, while the average home has fallen 4.6% in price from a year ago, according to the National Association of Realtors. In neighborhoods where housing prices have remained high, properties are increasingly out of reach.
"Even with recent economic softness, this is a disappointing performance with home sales being held back by overly restrictive loan underwriting standards," says Lawrence Yun, chief economist for the National Association of Realtors. "There's been a pendulum swing from very loose standards, which led to the housing boom, to unnecessarily restrictive practices as an overreaction to the housing correction."
But why break your back paying close to seven figures for a closet in one of the most expensive neighborhoods in the U.S. when there's cheaper property nearby? The zip code's cache is nice and all, but even television and Hollywood helped America realize that Alan Arkin's family in Slums of Beverly Hills could get by on the fringes and that Gabrielle Carteris' Andrea Zuckerman character didn't have to be born or have parents in Beverly Hills: 90210 to get into fictional West Beverly High School.
TheStreet took a look at five of the tonier neighborhoods in America and found five more on the outskirts that gave residents deep discounts while dropping them directly adjacent to all the stores, restaurants, theaters, museums, parks and other amenities that command premium prices from the rich neighbors:
Wealthy: New York's Upper West Side
Cheaper: Inwood
Manhattan's Inwood is an alternative to the Upper West Side.
Photo: flickr | danakosko
Want to grab a morning bagel with Harvey Keitel at Barney Greengrass, catch the Akira Kurosawa retrospective at Symphony Space, grab some cheese and a baguette at Zabar's and head over to Central Park for the summer concert series? There are two vastly different ways for homebuyers to approach this.
The first is to actually live on the Upper West Side and pay the median $933,400 that Zillow says neighborhood residents are shelling out for their homes. The other is to look just a few clicks up the Hudson in Inwood, which offers Riverside Drive-quality views of the Hudson and the palisades, tree-lined streets and well-kept homes on the neighborhood's west side and stops along the A and 1 subway lines that take residents to any Upper West Side stop within minutes.
While Inwood residents aren't exactly a skip away from the Columbus Avenue Shake Shack or the fossil room at the American Museum of Natural History, they're paying an average of only $356,000 to be pretty darn close without having to cross a river or live in another city. Inwood may as well be called "Where?" during dinner-party discussions, but its proximity to the best of the West Side and the small-town look of some of its blocks despite being situated squarely in Manhattan make it a place worth knowing.
Wealthy: San Francisco's Presidio Heights
Cheaper: Western Addition
San Francisco's Western addition is an affordable neighborhood.
Photo: flickr | permanently scatterbrained
So you've heard all about San Francisco and would love a place near a lot of parkland with a really great view of the water and Golden Gate Bridge? OK, that'll be $2.8 million, please.
Presidio Heights and "cheap" almost never appear in the same sentence. With a plot adjacent to the sprawling Presidio of San Francisco National Park and the former military installation's fields, historic architecture and views, Presidio Heights is easily the most expensive neighborhood in the city.
The adjacent Marina and Pacific Heights neighborhoods are similarly sought after and sport $1.16 million and $1.05 million median home prices, respectively. There is, however, a neighborhood south of California Street and east of Presidio Avenue that lets its residents live close by for roughly 20% of the cost.
Western Addition is home to two of the city's hospitals, the city's University of California campus, Japantown, the Fillmore district and a number of parks, but is just five blocks away from the Presidio at its closest point and even closer to Presidio and Laurel heights' shops, restaurants, specialty grocers and coffee bars along Sacramento and California streets.
That's if homeowners want them. Western Addition's jazz clubs, farmers markets, Fillmore Auditorium and restaurants like Yoshi's do just fine for themselves without bankrupting the surrounding gentry. This all still needs a bit of perspective, as Western Addition's $576,700 median price tag on homes is on the lower end of San Francisco's offerings, but would easily make it the most expensive neighborhood in Chicago.
Wealthy: Chicago's North Center/Lake View
Cheaper: Albany Park
Chicago's Albany Park appeals to some who like North Center.
Photo: flickr | Zol87
When you live in either of these Chicago neighborhoods, gentrification isn't something that's happening, but what the guy who owned your condo two owners ago heard he was responsible for just before shrugging it off and heading out for post-game beers at the L&L Tavern.
Lake View and its Wrigleyville and Boystown neighborhoods are among some of the most sought-after in the city, especially for those who like the idea of living in a doorman building on North Lakeshore, catching the Brown, Red or Purple lines to work, making a dinner comprising items purchased at Whole Foods and then heading out for a show at Metro, a game at Wrigley or a few drinks on Lakeview or North Clark. They're paying a median of $300,000 to do so, which is considerable in a town where the high-end median is $446,000 for properties on West DePaul.
The same can be said for nearby North Center, which hikes up the premium to $346,000 while adding bars, restaurants, bowling alleys and movie theaters while subtracting the lake and the Wrigley Field-adjacent nightlife. Is there any way to take part without paying some of the highest buy-in prices in the city?
The answer's found a few paces west in Albany Park, where a neighborhood dotted with green space like Ravenswood Manor Park and Ronan Park right on the river also has three brown-line stations just a few stops away from both North Center, Lake View and even Wrigleyville, where the Southport stop provides Albany Park residents a more favorable ride home than what their more monied neighbors are taking when they jam the red line's Addison station after the ninth inning.
Albany Park does just fine on its own, too, as Koreatown's restaurants, the mix of hookah and dart bars at West Lawrence Avenue and North Pulaski Road and the proliferation of bicycle, gadget, tobacco and other shops scattered throughout the neighborhood give the place the type of character that doesn't come one mixed-use residential development at a time. For all this, homebuyers pay about $189,000 on average, which is less than more remote but well-tread gems like the artistically inclined Pilsen neighborhood ($199,000) and little more than still-developing neighborhoods like Humbolt Park ($174,100).
Wealthy: Beverly Hills, Calif.
Cheaper: Hollywood
Hollywood is more affordable than nearby Beverly Hills, Ca.
Photo: flickr | letizia barbi
There was a time when they would let any hillbilly with poor marksmanship, a pickup truck piled high with personal belongings and a little oil money into Beverly Hills with a smile. Now anything less than the $1.9 million median home price wouldn't even secure you a parking spot.
Perhaps there's the stray "dingbat" apartment here or there, but the overwhelming majority of Beverly Hills and the area surrounding have prices that have been star-quality for a good, long time. Beverly Hills is ringed by the Hollywood Hills ($971,200 median home price), Bel Air ($1.74 million), Westwood ($655,700), Century City ($642,600), West Los Angeles ($760,300), Pico-Robertson ($667,600) and Mid-City West ($800,500) neighborhoods, which are all well above the city's $375,900 median.
The only neighborhood directly adjacent to Beverly Hills that even remotely meets that city's median is Hollywood, where a $417,200 price tag has led to increasing gentrification in West Hollywood and throughout the rest of the neighborhood in general. High-end restaurants, coffee shops and bars are open, celebrities and paparazzi are back and home prices were on the rise until the recent dip in the housing market. The lingering memories of drug dealers and 24-hour pizza places may buy a homebuyer some time in snatching up some rich-folk-adjacent property here, but considering it's the one piece of the Beverly Hills ring that isn't ridiculously high-priced as of yet, Hollywood's rebound shouldn't be bogged down much longer.
Wealthy: Aspen, Colo.
Cheaper: Basalt
Basalt, CO is as outdoorsy as pricier Aspen.
Photo: flickr | twred
It's a little early to be thinking about ski season, but not if your options are plunking down a median $1.99 million for a place or spending a quarter of that to take a one- to two-hour drive at the height of winter.
Aspen and neighboring Snowmass really want skiers to commit when considering property in either area. That $1.99 million isn't great, but it's a deep discount in Aspen after the housing crisis and recession knocked the frosty wind out of home sales and continued to send prices downhill well afterward. The median cost of a home in Aspen was 25% more at this time last year.
It's a similar story in Snowmass, where the $1.25 million median is almost 22% less than it was in summer 2010. Homebuyers can bet against a comeback and wait for prices to plummet to the six-figure mark, but that kind of self-destructive cynicism isn't necessary when there's already a more budget-friendly option down the road.
Basalt, Colo., isn't exactly bargain basement with its $575,000 median home price, but has more to offer than Aspen and Snowmass. Basalt's roughly 27 minutes from the slopes at Aspen and six minutes from Snowmass, but its position on the Frying Pan River and Ruedi Reservior make it a great trout-fishing and boating spot as well. If so inclined, a homeowner can take some of that savings, invest in a decent mountain bike and spend the summer pedaling through Roaring Fork Valley. It's in the middle of the action without being amid the throngs of tourists, which in itself justifies the commute.
Where to Live Like the Wealthy Do for Less
By Jason Notte, The Street
September 29, 2011
Real estate's Champagne wishes and caviar dreams are waking to a stingy, jobless reality of metropolitan moochers posing as the wealthy.
The U.S. is at 9.2% unemployment and conspicuous housing consumption is constricted by tightening loan requirements, while the average home has fallen 4.6% in price from a year ago, according to the National Association of Realtors. In neighborhoods where housing prices have remained high, properties are increasingly out of reach.
"Even with recent economic softness, this is a disappointing performance with home sales being held back by overly restrictive loan underwriting standards," says Lawrence Yun, chief economist for the National Association of Realtors. "There's been a pendulum swing from very loose standards, which led to the housing boom, to unnecessarily restrictive practices as an overreaction to the housing correction."
But why break your back paying close to seven figures for a closet in one of the most expensive neighborhoods in the U.S. when there's cheaper property nearby? The zip code's cache is nice and all, but even television and Hollywood helped America realize that Alan Arkin's family in Slums of Beverly Hills could get by on the fringes and that Gabrielle Carteris' Andrea Zuckerman character didn't have to be born or have parents in Beverly Hills: 90210 to get into fictional West Beverly High School.
TheStreet took a look at five of the tonier neighborhoods in America and found five more on the outskirts that gave residents deep discounts while dropping them directly adjacent to all the stores, restaurants, theaters, museums, parks and other amenities that command premium prices from the rich neighbors:
Wealthy: New York's Upper West Side
Cheaper: Inwood
Manhattan's Inwood is an alternative to the Upper West Side.
Photo: flickr | danakosko
Want to grab a morning bagel with Harvey Keitel at Barney Greengrass, catch the Akira Kurosawa retrospective at Symphony Space, grab some cheese and a baguette at Zabar's and head over to Central Park for the summer concert series? There are two vastly different ways for homebuyers to approach this.
The first is to actually live on the Upper West Side and pay the median $933,400 that Zillow says neighborhood residents are shelling out for their homes. The other is to look just a few clicks up the Hudson in Inwood, which offers Riverside Drive-quality views of the Hudson and the palisades, tree-lined streets and well-kept homes on the neighborhood's west side and stops along the A and 1 subway lines that take residents to any Upper West Side stop within minutes.
While Inwood residents aren't exactly a skip away from the Columbus Avenue Shake Shack or the fossil room at the American Museum of Natural History, they're paying an average of only $356,000 to be pretty darn close without having to cross a river or live in another city. Inwood may as well be called "Where?" during dinner-party discussions, but its proximity to the best of the West Side and the small-town look of some of its blocks despite being situated squarely in Manhattan make it a place worth knowing.
Wealthy: San Francisco's Presidio Heights
Cheaper: Western Addition
San Francisco's Western addition is an affordable neighborhood.
Photo: flickr | permanently scatterbrained
So you've heard all about San Francisco and would love a place near a lot of parkland with a really great view of the water and Golden Gate Bridge? OK, that'll be $2.8 million, please.
Presidio Heights and "cheap" almost never appear in the same sentence. With a plot adjacent to the sprawling Presidio of San Francisco National Park and the former military installation's fields, historic architecture and views, Presidio Heights is easily the most expensive neighborhood in the city.
The adjacent Marina and Pacific Heights neighborhoods are similarly sought after and sport $1.16 million and $1.05 million median home prices, respectively. There is, however, a neighborhood south of California Street and east of Presidio Avenue that lets its residents live close by for roughly 20% of the cost.
Western Addition is home to two of the city's hospitals, the city's University of California campus, Japantown, the Fillmore district and a number of parks, but is just five blocks away from the Presidio at its closest point and even closer to Presidio and Laurel heights' shops, restaurants, specialty grocers and coffee bars along Sacramento and California streets.
That's if homeowners want them. Western Addition's jazz clubs, farmers markets, Fillmore Auditorium and restaurants like Yoshi's do just fine for themselves without bankrupting the surrounding gentry. This all still needs a bit of perspective, as Western Addition's $576,700 median price tag on homes is on the lower end of San Francisco's offerings, but would easily make it the most expensive neighborhood in Chicago.
Wealthy: Chicago's North Center/Lake View
Cheaper: Albany Park
Chicago's Albany Park appeals to some who like North Center.
Photo: flickr | Zol87
When you live in either of these Chicago neighborhoods, gentrification isn't something that's happening, but what the guy who owned your condo two owners ago heard he was responsible for just before shrugging it off and heading out for post-game beers at the L&L Tavern.
Lake View and its Wrigleyville and Boystown neighborhoods are among some of the most sought-after in the city, especially for those who like the idea of living in a doorman building on North Lakeshore, catching the Brown, Red or Purple lines to work, making a dinner comprising items purchased at Whole Foods and then heading out for a show at Metro, a game at Wrigley or a few drinks on Lakeview or North Clark. They're paying a median of $300,000 to do so, which is considerable in a town where the high-end median is $446,000 for properties on West DePaul.
The same can be said for nearby North Center, which hikes up the premium to $346,000 while adding bars, restaurants, bowling alleys and movie theaters while subtracting the lake and the Wrigley Field-adjacent nightlife. Is there any way to take part without paying some of the highest buy-in prices in the city?
The answer's found a few paces west in Albany Park, where a neighborhood dotted with green space like Ravenswood Manor Park and Ronan Park right on the river also has three brown-line stations just a few stops away from both North Center, Lake View and even Wrigleyville, where the Southport stop provides Albany Park residents a more favorable ride home than what their more monied neighbors are taking when they jam the red line's Addison station after the ninth inning.
Albany Park does just fine on its own, too, as Koreatown's restaurants, the mix of hookah and dart bars at West Lawrence Avenue and North Pulaski Road and the proliferation of bicycle, gadget, tobacco and other shops scattered throughout the neighborhood give the place the type of character that doesn't come one mixed-use residential development at a time. For all this, homebuyers pay about $189,000 on average, which is less than more remote but well-tread gems like the artistically inclined Pilsen neighborhood ($199,000) and little more than still-developing neighborhoods like Humbolt Park ($174,100).
Wealthy: Beverly Hills, Calif.
Cheaper: Hollywood
Hollywood is more affordable than nearby Beverly Hills, Ca.
Photo: flickr | letizia barbi
There was a time when they would let any hillbilly with poor marksmanship, a pickup truck piled high with personal belongings and a little oil money into Beverly Hills with a smile. Now anything less than the $1.9 million median home price wouldn't even secure you a parking spot.
Perhaps there's the stray "dingbat" apartment here or there, but the overwhelming majority of Beverly Hills and the area surrounding have prices that have been star-quality for a good, long time. Beverly Hills is ringed by the Hollywood Hills ($971,200 median home price), Bel Air ($1.74 million), Westwood ($655,700), Century City ($642,600), West Los Angeles ($760,300), Pico-Robertson ($667,600) and Mid-City West ($800,500) neighborhoods, which are all well above the city's $375,900 median.
The only neighborhood directly adjacent to Beverly Hills that even remotely meets that city's median is Hollywood, where a $417,200 price tag has led to increasing gentrification in West Hollywood and throughout the rest of the neighborhood in general. High-end restaurants, coffee shops and bars are open, celebrities and paparazzi are back and home prices were on the rise until the recent dip in the housing market. The lingering memories of drug dealers and 24-hour pizza places may buy a homebuyer some time in snatching up some rich-folk-adjacent property here, but considering it's the one piece of the Beverly Hills ring that isn't ridiculously high-priced as of yet, Hollywood's rebound shouldn't be bogged down much longer.
Wealthy: Aspen, Colo.
Cheaper: Basalt
Basalt, CO is as outdoorsy as pricier Aspen.
Photo: flickr | twred
It's a little early to be thinking about ski season, but not if your options are plunking down a median $1.99 million for a place or spending a quarter of that to take a one- to two-hour drive at the height of winter.
Aspen and neighboring Snowmass really want skiers to commit when considering property in either area. That $1.99 million isn't great, but it's a deep discount in Aspen after the housing crisis and recession knocked the frosty wind out of home sales and continued to send prices downhill well afterward. The median cost of a home in Aspen was 25% more at this time last year.
It's a similar story in Snowmass, where the $1.25 million median is almost 22% less than it was in summer 2010. Homebuyers can bet against a comeback and wait for prices to plummet to the six-figure mark, but that kind of self-destructive cynicism isn't necessary when there's already a more budget-friendly option down the road.
Basalt, Colo., isn't exactly bargain basement with its $575,000 median home price, but has more to offer than Aspen and Snowmass. Basalt's roughly 27 minutes from the slopes at Aspen and six minutes from Snowmass, but its position on the Frying Pan River and Ruedi Reservior make it a great trout-fishing and boating spot as well. If so inclined, a homeowner can take some of that savings, invest in a decent mountain bike and spend the summer pedaling through Roaring Fork Valley. It's in the middle of the action without being amid the throngs of tourists, which in itself justifies the commute.
Friday, September 30, 2011
Feds want land bridge between mountains and Rocky Flats Wildlife Refuge
Future areas protected from development...
Feds want land bridge between mountains and Rocky Flats Wildlife Refuge
By Bruce Finley
The Denver Post
Posted: 09/30/2011 11:45:33 AM MDT
Updated: 09/30/2011 01:25:34 PM MDT
Rocky Flats National Wildlife Refuge on Friday ( THE DENVER POST | Kathryn Scott Osler)
Federal officials today unveiled plans for a complex property swap that will create a land bridge between the Rocky Flats National Wildlife Refuge and the mountains to the west.
The U.S. Fish and Wildlife Service managers this morning said the plan to cross Colo. 93 at the southwest corner of the 6,240 acre compound will make the difference between the refuge remaining an isolated enclave that is home to mule deer and small predators versus performing a much richer prairie preserve that draws larger ungulates, such as elk, and big predators including black bears and cougars.
The release of the plan triggers a 31-day public comment period.
Fish and Wildlife assumed management of the most of the 9-square mile site in 2007, after the Environmental Protection Agency determined that the cleanup of waste left by manufacturing plutonium triggers for nuclear warheads had been completed.
Since then, the compound east of Colo. 93, between Golden and Boulder, has remained closed to public access because of a lack of funding for management operations. The property is considered critical habitat for the federally threatened Preble's meadow jumping mouse. It also contains 1,500 acres of rare xeric tallgrass prairie.
Nearly one third of the compound remains under the control of the U.S. Department of Energy, fenced off and closed due to residual plutonium contamination.
The refuge, one of seven in Colorado, is considered a key link in vision proposed by Interior Secretary Ken Salazar's America Outdoors program to create a link between Denver and Rocky Mountain National Park. In the metro area, there are two other National Wildlife Refuges, Two Ponds in Arvada and Rocky Mountain Arsenal, a reclaimed mustard gas production facility east of Commerce City.
Feds want land bridge between mountains and Rocky Flats Wildlife Refuge
By Bruce Finley
The Denver Post
Posted: 09/30/2011 11:45:33 AM MDT
Updated: 09/30/2011 01:25:34 PM MDT
Rocky Flats National Wildlife Refuge on Friday ( THE DENVER POST | Kathryn Scott Osler)
Federal officials today unveiled plans for a complex property swap that will create a land bridge between the Rocky Flats National Wildlife Refuge and the mountains to the west.
The U.S. Fish and Wildlife Service managers this morning said the plan to cross Colo. 93 at the southwest corner of the 6,240 acre compound will make the difference between the refuge remaining an isolated enclave that is home to mule deer and small predators versus performing a much richer prairie preserve that draws larger ungulates, such as elk, and big predators including black bears and cougars.
The release of the plan triggers a 31-day public comment period.
Fish and Wildlife assumed management of the most of the 9-square mile site in 2007, after the Environmental Protection Agency determined that the cleanup of waste left by manufacturing plutonium triggers for nuclear warheads had been completed.
Since then, the compound east of Colo. 93, between Golden and Boulder, has remained closed to public access because of a lack of funding for management operations. The property is considered critical habitat for the federally threatened Preble's meadow jumping mouse. It also contains 1,500 acres of rare xeric tallgrass prairie.
Nearly one third of the compound remains under the control of the U.S. Department of Energy, fenced off and closed due to residual plutonium contamination.
The refuge, one of seven in Colorado, is considered a key link in vision proposed by Interior Secretary Ken Salazar's America Outdoors program to create a link between Denver and Rocky Mountain National Park. In the metro area, there are two other National Wildlife Refuges, Two Ponds in Arvada and Rocky Mountain Arsenal, a reclaimed mustard gas production facility east of Commerce City.
Vacation rental website claims Colorado towns' tax hunt is "illegal"
interesting article...
business
Vacation rental website claims Colorado towns' tax hunt is "illegal"
By Jason Blevins
The Denver Post
Posted: 09/30/2011 01:00:00 AM MDT
Updated: 09/30/2011 09:21:35 AM MDT
The co-founder of HomeAway.com, the nation's largest online vacation-rental site, says the effort by several Colorado towns to scour the company's websites for homeowners who might not be paying local and state lodging taxes is "patently illegal" and constitutes intellectual-property theft.
"We simply cannot allow the violation of the privacy of our customers," said Carl Shepherd, who this week sent cease-and-desist letters to several towns and the Colorado Association of Ski Towns. " 'Scraping' — and that's what this is — is illegal. Most of the time we are scraped, it's by nefarious guys in Bulgaria or Nigeria who want to do us harm or steal from us. This is an interesting approach by an entity working for governments, saying it's OK to break the law if you are finding people who might not be paying their taxes."
"Scraping" called a violation
Shepherd's letters demand that the Colorado Association of Ski Towns direct its members Winter Park, Grand Lake, Breckenridge, Dillon, Silverthorne and Frisco to cancel contracts with Virginia-based VR Compliance, which is searching several online vacation-rental sites, including HomeAway's, for homeowners who are not paying taxes.
Shepherd argues that the "scraping" violates a "fundamental privacy right" between his company and the Colorado users who advertise through its sites, which include VRBO.com and vacationrentals.com.
When the association first contacted HomeAway.com with its plans to search for rogue renters, Shepherd's team said the plan was illegal, Shepherd said. The company offered to help inform its users about local and state tax codes.
"They said they would help educate people, which we think is truly bunk," said Tim Gagen, town manager for Breckenridge, where VRBO.com first sprouted in 1995. "We don't want education. We want information."
The association, which is an organization of 25 mountain towns that merely directed its members to VR Compliance, and the six towns that are testing the rental search program will not stop their searching.
"VR Compliance assured us they are not in violation of those federal or state scraping laws," said Gagen, who expects the issue is headed to court.
Assertion "interesting"
Katina Banks, an intellectual-property lawyer with Dorsey & Whitney LLP in Denver who is not involved in the dispute, called HomeAway's intellectual-property assertion "interesting" but said she doesn't believe it rises to an intellectual-property claim.
"Without more information, I'm having a hard time seeing the taking of an asset and using of an asset which would constitute an intellectual-property infringement," Banks said.
Banks said it does not appear to be an infringement because the mountain towns and association are not using the information to solicit for property rentals or anything similar.
"They are not reproducing it or distributing it, which would lead to a copyright claim. They are just using it and barring some inappropriate access or claim of theft. I don't believe there is a trade-secret issue here," Banks said.
David Atherton, the owner of VR Compliance, said his program does not expose private data. As an owner of several small technology companies, Atherton said he is "philosophically opposed" to violating privacy agreements between companies and clients.
"I can say without reservation that we don't scrape. We don't hack. We don't steal. We don't misappropriate or otherwise misuse any private data from his or any other website," said Atherton, who has not been contacted by HomeAway.com or seen the cease-and-desist letter.
"We help municipalities level the taxation playing field," Atherton said.
Staff writer Howard Pankratz contributed to this report. Jason Blevins: 303-954-1374 or jblevins@denverpost.com
business
Vacation rental website claims Colorado towns' tax hunt is "illegal"
By Jason Blevins
The Denver Post
Posted: 09/30/2011 01:00:00 AM MDT
Updated: 09/30/2011 09:21:35 AM MDT
The co-founder of HomeAway.com, the nation's largest online vacation-rental site, says the effort by several Colorado towns to scour the company's websites for homeowners who might not be paying local and state lodging taxes is "patently illegal" and constitutes intellectual-property theft.
"We simply cannot allow the violation of the privacy of our customers," said Carl Shepherd, who this week sent cease-and-desist letters to several towns and the Colorado Association of Ski Towns. " 'Scraping' — and that's what this is — is illegal. Most of the time we are scraped, it's by nefarious guys in Bulgaria or Nigeria who want to do us harm or steal from us. This is an interesting approach by an entity working for governments, saying it's OK to break the law if you are finding people who might not be paying their taxes."
"Scraping" called a violation
Shepherd's letters demand that the Colorado Association of Ski Towns direct its members Winter Park, Grand Lake, Breckenridge, Dillon, Silverthorne and Frisco to cancel contracts with Virginia-based VR Compliance, which is searching several online vacation-rental sites, including HomeAway's, for homeowners who are not paying taxes.
Shepherd argues that the "scraping" violates a "fundamental privacy right" between his company and the Colorado users who advertise through its sites, which include VRBO.com and vacationrentals.com.
When the association first contacted HomeAway.com with its plans to search for rogue renters, Shepherd's team said the plan was illegal, Shepherd said. The company offered to help inform its users about local and state tax codes.
"They said they would help educate people, which we think is truly bunk," said Tim Gagen, town manager for Breckenridge, where VRBO.com first sprouted in 1995. "We don't want education. We want information."
The association, which is an organization of 25 mountain towns that merely directed its members to VR Compliance, and the six towns that are testing the rental search program will not stop their searching.
"VR Compliance assured us they are not in violation of those federal or state scraping laws," said Gagen, who expects the issue is headed to court.
Assertion "interesting"
Katina Banks, an intellectual-property lawyer with Dorsey & Whitney LLP in Denver who is not involved in the dispute, called HomeAway's intellectual-property assertion "interesting" but said she doesn't believe it rises to an intellectual-property claim.
"Without more information, I'm having a hard time seeing the taking of an asset and using of an asset which would constitute an intellectual-property infringement," Banks said.
Banks said it does not appear to be an infringement because the mountain towns and association are not using the information to solicit for property rentals or anything similar.
"They are not reproducing it or distributing it, which would lead to a copyright claim. They are just using it and barring some inappropriate access or claim of theft. I don't believe there is a trade-secret issue here," Banks said.
David Atherton, the owner of VR Compliance, said his program does not expose private data. As an owner of several small technology companies, Atherton said he is "philosophically opposed" to violating privacy agreements between companies and clients.
"I can say without reservation that we don't scrape. We don't hack. We don't steal. We don't misappropriate or otherwise misuse any private data from his or any other website," said Atherton, who has not been contacted by HomeAway.com or seen the cease-and-desist letter.
"We help municipalities level the taxation playing field," Atherton said.
Staff writer Howard Pankratz contributed to this report. Jason Blevins: 303-954-1374 or jblevins@denverpost.com
Wednesday, September 28, 2011
Check out your County Website for Tax Sale Information
It's that time of year...tax sales are coming up...here's the opening page to the Jefferson County Tax Sale Guidelines...yet feel free to google your County's tax sale website...
Tax Lien Sale
The sale will be held at www.sri-onlineauctions.com
AUCTION FORMAT
The tax lien sale will be held as an Internet auction administered by SRI Incorporated. Tax liens available for bid will be listed on the SRI web site www.sri-onlineauctions.com beginning October 20, 2011 at 9 a.m. Bidding will close hourly in batches of approximately 180 liens per batch. Each page is considered a batch. The first batch (page one) will close at 8:00 a.m. Mountain Time on October 24,2011 and continuing closing each hour until 8:00 p.m. The bidding rules will be posted at least two weeks before the beginning of the actual auction. Two computers will be available for use in the Treasurer main lobby. Questions regarding the operation of the auction should be addressed to SRI at 1-800-800-9588.
Jefferson County Tax Sale Info
Tax Lien Sale
The sale will be held at www.sri-onlineauctions.com
AUCTION FORMAT
The tax lien sale will be held as an Internet auction administered by SRI Incorporated. Tax liens available for bid will be listed on the SRI web site www.sri-onlineauctions.com beginning October 20, 2011 at 9 a.m. Bidding will close hourly in batches of approximately 180 liens per batch. Each page is considered a batch. The first batch (page one) will close at 8:00 a.m. Mountain Time on October 24,2011 and continuing closing each hour until 8:00 p.m. The bidding rules will be posted at least two weeks before the beginning of the actual auction. Two computers will be available for use in the Treasurer main lobby. Questions regarding the operation of the auction should be addressed to SRI at 1-800-800-9588.
Jefferson County Tax Sale Info
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