Hard Times

It is all around us. Financial Markets, Housing Markets, Job Market, etc. The economy is taking its toll on just about everyone from many walks of life. It is unfortunate, but it is REAL.

My profession is helping people. You say "ha, yeah right...you're a salesman like them all". But what do we do? Usually we are entrusted with the biggest and most difficult decision of your life...to buy or sell the home you and your family will live in/have lived in. This is a big task, which comes with great responsibility and respect for the client. Much different than a used car or an expensive vacuum.

Where am I going with this? As a Realtor, I must also continue to keep in touch with clients, prospect for new business opportunities,  stay current on the market and market related topics such as lending laws, foreclosure rules, etc. One thing that I've enjoyed is working with families whom are experiencing hard times. Now let me clarify, I do not "get a kick" or anything out of this in that respect. What I mean is that I enjoy helping families whom are faced with hard times find ways to better the situation. Im not a miracle worker who can save your home, find you a six figure income and cure your illness. But when it comes to housing, and being subject to foreclosure proceedings....there are a few options that you can take.

Over the past months, I have seen more and more homes fall into foreclosure, like I mentioned in the beginning this is unfortunate, but also very real. Recently I have noticed many names of those I know and respect in my community that are seeing hard times as well. No one likes to see or hear this, but the reality is that many of our friends and neighbors need help. Whether that is just a friendly "Hello" at the supermarket, supportive comment about a job search, random act of kindness or simply a referral saying "hey, I know your having a hard time....but have you tried or looked into _________?"

No one is exempt from having a hardship....be kind to your neighbor.



This was not intended to be a plug for any services, rather a short rant I wanted to say about all of us. However, if you or someone you know is facing hard times with their home and are curious about what options are out there, I would be happy to discuss. In person, on the phone or via email. The important thing is being proactive.

Open House! Central Longmont Home with 4 Bedrooms!

Join us Saturday Feb. 5th from 12pm-2pm at 1434 Cinnamon St!

From Mtn View and Main St take Mtn View West a few blocks to Cinnamon. North on Cinnamon, up the hill and the home is the last on the right!

380 Main goes back on the market...What will the future of this building be?

In todays Times-Call, there is an article pertaining to the newly listed 380 Main St, an important building in Longmonts Downtown History.

Read the full article here:
380 Main Goes back on the market.

For information on this building or other commercial or residential space in Boulder County feel free to call!

Lehman Communications Corp. (Daily Times Call) sold to subsidiary of MediaNews Group

Just announced, the Lehman Communications Corp has entered into a purchase agreement with another media company.

Please follow this link below to read the full text as well as watch the video of the announcement.





This newspaper has been a major part of many of our lives for a long time.

Mortgage Interest Deduction - Response from NAR Economist

NATIONAL ASSOCIATION OF REALTORS®’ Chief Economist, Lawrence Yun sent the following response to the editor of The Washington Post in response to the January 1, 2011 article, “Trim the Excessive Tax Subsidy for Real Estate.”

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January 2, 2011

It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.”

In fact, the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.

The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement.

It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.

Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status.

Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics.

For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership. In a time when the middle class faces increased economic pressures, you can be sure that the National Association of Realtors® will remain actively engaged to ensure that hard-working, home-owning families continue to receive this important benefit.

NAR Chief Economist Lawrence Yun

Longmont Business - A recap of 2010

The Daily Times-Call in Longmont did a great article on "What happened in business in 2010" in the Longmont Area.

This was a wonderful article to read and learn about how much actually happened with our small and large companies.

Please, follow this link below and take a few minutes to learn about places you may frequent!

Happy Buying and Selling!

2010 Recap of Longmont Business

http://www.timescall.com/tcBusiness/010211Business2010.asp?ID=24731

2011 Housing Predictions

Predictions for Housing in 2011
Will housing values increase in 2011? Fortune.com offers both a bullish and a bearish prediction.
The bulls say: Affordability is at its highest level. Billionaire Warren Buffet is among those who believe this is a sign the slump is about to end. Buffet writes: "Prices will remain far below 'bubble' levels, of course, but for every seller (or lender) hurt by this there will be a buyer who benefits."
The bears say: It’s not over yet. Housing is still overpriced and inventories are enormous, says Daryl Jones, an analyst at investment research firm Hedgeye. Jones warns that home prices could fall another 15 percent to 30 percent because no one is buying.
Source: Fortune.com, Nin-Hai Tseng (12/27/2010)

Buying a home in 2011?

5 Reasons to Buy a Home in 2011 Michele Lerner, author of Homebuying: Tough Times, First Time, Any Time, offers reasons why real estate is likely to improve in 2011. Here are five reasons she thinks consumers should consider a home purchase next year:
▪ Mortgage rates will stay low. Even with rates climbing — maybe to as high as 6 percent by 2012 — they are still well below where they have been historically.
▪ Tax cuts could help. Extending the tax cuts could encourage a more rapid recovery for the economy.
▪ Americans want to be home owners. A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment.
▪ Builders are about to begin building. Home builders have been sitting on the sidelines. This year, they think pent-up demand will create an appetite for new homes.
▪ Homes are shrinking. Homes are getting smaller, which has made them more affordable.
Source: Investopedia, Michele Lerner (12/24/2010

Where is this market going? Should I hold out for lower prices before I buy?

What does 2011 look like to you? What do you hope the 2011 Real Estate Market will bring? 


Will rates rise? Is there "shadow inventory" lurking about?  What about home prices?

There are 3 critical factors that will determine how the housing market will look in 2011. Unemployment rate House prices Interest rates Cherry Creek Mortgage has put together a great short presentation that examines each of these, and their effect on 2011. The last half of the presentation is particularly interesting, pointing out the effect of 10% decrease in home price vs. a 1% increase in your interest rate. Also, how that 1% jump in a rate may lead to not qualifying for the loan.  Thanks and enjoy!

Please Click Here for the 7 minute presentation. Very interesting.

Mortgage Rates Jump to 6-Month High

Mortgage rates rose for a fourth-straight week to reach a six-month high as yields on government bonds continue to rise. The average interest on a 30-year fixed loan hit 4.61 percent, up from 4.46 percent a week ago, Freddie Mac reported. 
Also, 15-year fixed loans averaged 3.96 percent, up from 3.81 percent last week; and rates for variable adjustable-rate mortgages floated higher as well.
Source: Los Angeles Times, E. Scott Reckard (12/10/10)