Uncategorized

Open House Sunday October 7th 11am-1pm

4627 Sunnyside Place | Boulder Colorado

Sunnyside

Curb appeal! This bright South facing 2 story has it all. Features include: open floorplan, tall ceilings, hardwood floors, open concept kitchen with maple cabinets, quartz slab counters, pantry & Stainless Steel appliances. Upstairs has 3 beds & laundry room. Master suite with vaulted ceilings & big windows to take in the mountain view. Big walk-in closet with storage system. Freshly finished basement with big windows/tall ceilings, Rec room, extra bed & bath. Fenced backyard with patio & pergola. Easy access to walking trails.

I would like more information or set a private showing:

Call us directly 303.402.6000

Events

Open House Saturday October 6th 11am-2pm

5101 Saint Vrain Road | Longmont CO

Saint Vrain

Magnificent estate with quality finishes unsurpassed by any other in Boulder county. Spectacular views and quiet country setting! Step inside to the warmth of luxury. Sun filled with walls of windows, rolled travertine tile, vaulted ceilings, arched beams and large art studio. Amazing care taker apartment. Escape to your master retreat with solarium and jetted tub. Let out your inner chef in gourmet kitchen. Close to hiking, biking and horse trails. A short drive to amenities. Stunning horse barn with finished studio. Gated drive.

I would like more information or set a private showing:

Call us directly 303.402.6000

 

Home Maintenance, Uncategorized

Fall Checklist

The air is becoming crisper and the sun is setting earlier.
Follow the to-do’s below to help you maintain your biggest investment and to prepare for those cold winter days.
Checklist for Home Maintenance
Make note. Take a walk around your property, to look for signs of damage to the roof, siding and foundation. If you spot anything that needs repair, schedule it before winter weather hits.
Clean up the yard. Rake up the leaves and debris. Make sure that overgrowth does not block the windows or path to the entrance. Cutting bushes and tree limbs will let the sun inside and showcase the exterior of your home.
Clean the windows. Rain and wind from over the summer months can make your windows dirty and streaked.
Schedule furnace maintenance. When was the last time you changed your furnace filter? Have the HVAC system checked before you need to turn on the heat.
Clean out the fireplace. Have your chimney cleaned by a professional.
Clean the gutters. After leaves have fallen, clean out the gutters and downspouts.
Caulk windows. Be sure to caulk around windows and doorframes to prevent heat from escaping.
Inspect the roof. Make sure the roof is in good shape. Inspect for missing and loose shingles. Your roof protects your home, make the repairs when they happen so you don’t find yourself in a predicament.
Reverse the ceiling fans. Change the direction of your ceiling fan to create an upward draft that redistributes warm air from the ceiling.
Cover air conditioner. Remove units from windows or wrap the outside box with a tarp.
Clean off your porch and deck. Look for any needed repairs and cover or store outdoor furniture in a protected area. Make sure all soil is emptied from pots and planters.
Improve Insulation. This will help prevent cold air from seeping into your interior. Investing in insulation will save you money on your energy bills because your furnace will not have to work overtime to heat your home.
Clean the clothes dryer exhaust duct. Remove lint and dust that may have accumulated.
Shut off exterior faucets. Protect your pipes from freezing temperatures by shutting off water to exterior faucets and drain hoses and store them. Winterize the sprinkler system.
Check safety devices. Replace batteries in smoke detectors and carbon monoxide detectors. Check the expiration date on your fire extinguisher and replace if needed. If you haven’t checked your home for radon, fall is a good time to do so.
Please call us if you need anything. We really appreciate you and your business!
Uncategorized

Real Estate and Taxes — Don’t Pay Too Much

No one wants to pay more taxes than necessary.  In fact, there is a quote I ran across from Judge Learned Hand (philosopher and US Court Judge) that says “Anyone may arrange his affairs so that his taxes shall be as low as possible…..for nobody owes any public duty to pay more than the law demands.”   Although Judge Hand was referring to income taxes, the concept can reasonably be expanded to all taxes.

There are several areas where real estate and taxes overlap.   One area is property taxes — the taxes paid to local governments based on the assessed value of the property.   In Colorado, property is generally reassessed every two years.   Notices are sent out with the revised values and the timeframes for appeals.   The appeal process is pretty straightforward — owners may submit alternative comparable properties to support a revised (hopefully lower) value.   Counties use an automated system for identifying comparable properties that does not always come up with the most similar properties.   This is particularly true of properties not in big subdivisions.  If you can find 3 properties that support a lower valuation, you may be able to save some money on your property taxes for a couple of years.   We have had many clients that have successfully appealed their valuation.

Another area where real estate and taxes come together is on properties that have been sold through a short sale or foreclosure proceedings.   A previous post on this issue has the details but the bottom line is act this year if this situation may be something you are facing.   Right now there is no tax on any debt forgiven but this exemption expires the end of 2012 (unless Congress takes further action).

The sale of investment property can result in a taxable gain.   It is possible to defer the taxes if the money is reinvested in similar property through a section 1031 exchange.   There are rules about the timing of the exchange (days until the new property is identified, days to close, etc) and how the proceeds can be held until the “new” investment is made but it is a well established process and there escrow companies that specialize in assisting with these types of transactions.

If you have questions about any of these issues, give me a call at 303-402-6000 or email me at karenb@bernardirealestate.com

Uncategorized

Buffett Says Buy

Warren Buffett, the “Oracle of Omaha”, is bullish on the housing market.   In several recent interviews, Buffett commented that real estate has significant upside in the future.   Buffett’s opinion is based on several factors including the historically low interest rates for purchasers.  Buffett believes that housing as well as stocks what he considers “productive assets” compared to treasuries and gold.   He also believes they have greater upside potential that gold.  He commented that if he could figure out a practical way to do it, he’d “buy up a couple hundred thousand” single family homes.

Another factor he cited was the forecasted increase in households as the economy improves.  During the recession, people moved in with parents, in-laws or others to save costs.   As the economy improves, many of these people will strike out on their own.  The estimate for household formation is 1.14 million compared to about 609,000 new housing starts.   The imbalance will create demand for existing homes and help absorb the excess inventory of resale homes.

There is not an excess of homes in all areas.   In Boulder County, our inventory is well below prior years in most areas.   This trend is also true in the greater Denver area.   In the Boulder area, some cities like Louisville have about half the “normal” inventory and homes are selling before they are in the MLS.   We have actually seem a few competing offers the last couple months!   The first quarter statistics for Boulder County show stable prices and numbers of homes sold on par or better than the last several years.   The one area that is still lagging is the mountains.  For the details on the individual areas in Boulder County, visit the statistics page on our website.

If you are thinking about making a move, its a great time to take advantage of the lower inventory and great rates for borrowers and investors — give me a call at 303-402-6000 or email me karenb@bernardirealestate.com