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This Week's HOT BUY: Coming January 2016

by Cory Dudley

Outstanding property in Longmont's coveted Fox Hill neighborhood.

Located at the end of a cul-de-sac with lots of mature trees and privacy.

Open floor plan with main level master suite plus 2 additional bedrooms

Sunken Living Room with vaulted ceilings

Enclosed 3-season sun room and access to beautifully landscaped grounds

Large open Rec Room in basement with large laundry room and lots of storage

We will be featuring this property for sale coming in January 2016

 

Call us and we can set up a private showing for you.


The Residential Rental Market Heading into 2016

by Cory Dudley

Below are quotes from experts as well as industry reports & articles that cover the residential rental market in the U.S.

The experts…

Zillow Chief Economist Svenja Gudell:

"Make no mistake: Despite this recent slowdown in rental appreciation, the rental affordability crisis we've been enduring for the past few years shows no signs of easing, especially as income growth remains weak. It will take a lot more supply, and a lot more renters-turned-homeowners, to fully reverse this.”

Lawrence Yun, Chief Economist of the National Association of Realtors

“Rents and home prices are expected to exceed income growth into next year because of the insufficient creation of new home construction and the detrimental impact its inadequacy continues to have on housing costs in several markets.”

David Brickman, Executive Vice President of Freddie Mac Multifamily

"We know rents are rising faster than incomes, and now we have data to show that many renters don't have enough to pay all their debts each month, which is forcing them to make tradeoffs, such as cutting spending on other items.”

The reports and articles…

Zillow's 2016 Housing Market Predictions

“Rising rents won't let up in 2016, and will continue to set new records. The next year will bring the least affordable median rents ever.”

2015 rent.com Rental Market Report

“68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%”

CNBC

“The primary reasons cited for the latest rises were increasing demand and low inventory. Vacancy rates for rental housing nationally dropped to a 20-year low of 6.8 percent in the second quarter…Rents and occupancies are currently hovering at historic highs as supply isn't keeping up with demand.”

 Bottom Line

If you are one of the many renters debating a home purchase, meet with a real estate professional in your area who can show you your options, before your rent goes up!


Longmont Area Events for the Week of Dec. 28: Winter in the Wild

by Cory Dudley

Today

Monday Movie Night with "Love Actually" — Celebrate the season with a screening of "Love Actually," 6:30 p.m., Dickens Opera House, 300 Main St., Longmont. Go to www.dickensoperahouse.com.

•Loteria Mexicana —Fun for the whole family, play a few rounds of traditional Mexican Bingo, 6 p.m., Longmont Public, Library, 409 Fourth Ave., Longmont. Go to longmontcolorado.gov.

•Chess Club —Players of all skill levels, 18 years and younger, can join the drop-in chess club, 7 p.m., Longmont Public, Library, 409 Fourth Ave., Longmont. Go to longmontcolorado.gov.

Tuesday

Mac & Cheese Family Event — In this class we'll think "outside the box" - boxed mac & cheese, that is. Bring the whole family (or a group of friends) to learn how to make some easy cheeses and then turn them into a variety of gourmet homemade mac & cheese dishes, 3 p.m., The Art of Cheese at Haystack Mountain Goat Cheese Creamery, 505 Weaver Park Road, Longmont. Cost is $39. Go to theartofcheese.com.

Open Mic Night with The Prairie Scholars — Live music, 6 p.m., Skeye Brewing, 900 S. Hover St., Unit D, Longmont. Go to www.skeyebrewing.com.

Wednesday

Winter in the Wild — Learn how wildlife adapts to winter in this hands-on program, 1 p.m. for grades kindergarten through third, 3 p.m. for grades fourth through sixth , Longmont Public Library, 409 Fourth Ave., Longmont. Call 303-651-8477 to register.

Open Bluegrass Pick hosted by Eric Wiggs — Live music, 8 p.m., Longs Peak Pub, 600 Longs Peak Ave., Longmont. Call 303-651-7886.

Thursday

Winter Seniors Nature Hike — The last Thursday of every month the Boulder County Parks and Open Space Department hosts a seniors hike at a county park, 10 a.m., Rabbit Mountain Open Space Park, 14950 N. 55th St., Longmont. Go to 303-678-6214.

New Year's Eve Party — Kids can make noisemaker crafts, enjoy face painting, family photo station, a musical performance by Kristin McLean, refreshments, and a grand countdown, 10 a.m. and noon, WOW Children's Museum, 110 N. Harrison Ave., Lafayette. Call (303) 604-2424.

Happy Noon Year — Children and families are invited to celebrate the New Year at the library! Wear your finest attire as we celebrate with a dance party, face-painting, and a special countdown, 11 a.m., Erie Community Library, 400 Powers St., Erie. Go to www.mylibrary.us.

Home Cheesemaking: Swiss Cheese & Fondue — We'll learn how to make some Swiss (Alpine) cheeses and then enjoy a scrumptious cheese fondue as we get ready to ring in the new year, 5 p.m., The Art of Cheese at Haystack Mountain Goat Cheese Creamery, 505 Weaver Park Rd, Longmont. Cost is $39. Go to theartofcheese.com.

•New Year's Eve Disco Party — Dress in your finest disco attire dance to music from DJ Stein, Phish Stream and Cat Jerky, 6 p.m., Wibby Brewing, 209 Emery St., Longmont. Go to www.wibbybrewing.com.

"The Wizard of Oz" — The Jesters Dinner Theatre presents the classic musical "The Wizard of Oz." The evening includes an appetizer buffet, upscale dinner, dessert bar, party favors, champagne, sparkling cider and a countdown to 2016, 7 p.m., Jesters Dinner Theatre, 224 Main St., Longmont. Cost is $60 for adults and $40 for students 18 and younger. For tickets, visit www.jesterstheatre.com or call 303-682-9980.

New Year's Eve 2016- Party at the Plaza — The Plaza has teamed up with Left Hand Brewing Company and Funkiphino to create Boulder County's most happening New Year's Eve Party this year, 8 p.m., Best Western Plaza Hotel, 1900 Ken Pratt Blvd, Longmont. Cost is $25 to $45. Go to http://ow.ly/VrsHt.

Friday

Annual New Year's Auction from Niwot Auction — The 27th annual super New Year's Day auction features the antique and nostalgia auction, 10 a.m., Exhibit Building, Boulder County Fairgrounds, 9595 Nelson Road. niwotauction.com.

Hindsight Doors — Live music, 7 p.m., Dickens Opera House, 300 Main St., Longmont. Cost is $8 to $10. Go to www.dickensoperahouse.com.

Robin David Duo — Live music, 7:30 p.m., Oskar Blues Homemade Liquids and Solids, 1555 S. Hover Road, Longmont. Call 303-485-9400.

Saturday

Erie Nutrition Blood Drive — Donations will be taken inside the bloodmobile, 9 a.m., Erie Nutrition, 515 Briggs St. Suite D, Erie. For more information or to schedule an appointment, contact Erin Bajcar at 303-242-4550 or go to bonfils.org.

Denver Nuggets Skills Challenge —Boys and Girls 7 to 14 years can showcase their basketball skills in this free competition. Registration starts at noon, the challenge begins at 1 p.m., Longmont Recreation Center, 310 Quail Road, Longmont. Call 303-774-4800.

•Longmont Elks National Free Throw "Hoop Shoot" Contest —Boys and Girls, ages 8 through 13, can participate in local basketball competition. Winner will advance to district, state, regional and then national competition, 3 p.m., Longmont Recreational Center, 310 Quail Road, Longmont. Call Fred Pahlke at 303-776-1055 or 303-506-0741.

Sunday

Wylie Crazy Horse —Live music, 3 p.m., Oskar Blues Tasty Weasel Tap Room, 1800 Pike Road, Unit B, Longmont. Call 303-776-1914.

The Prairie Scholars: Brews & Tunes —Live music, 4:30 p.m., Left Hand Brewing Company, 1265 Boston Ave., Longmont. Call 303-772-0258.

John Paul Hodge —Live music, 6 p.m., Oskar Blues Homemade Liquids and Solids, 1555 S. Hover Road, Longmont. Call 303-485-9400.

 

To see more events for the Longmont-area or to submit an event, go to timescall.com/events.


This Week's HOT BUY: 553 Rider Ridge Drive, Longmont

by Cory Dudley

Fabulous 2 story home in Rider Ridge. This home has amazing unobstructed Mountain Views.

Features a bright an open floor plan, remodeled kitchen, upgraded cabinets, SS appliances and great room w/ gas fireplace. Private Master Suite has its own balcony area, 5 piece luxury bath & huge 19 x 7 walk in closet.

Finished walkout basement offers 4th bedroom, huge rec room with bar area, wine refrigerator, full bath & storage area. Great back yard is private and fully fenced. Exterior just painted.

Listed by Wright Kingdom Real Estate


Building Family Wealth Over The Next 5 Years

by Cory Dudley

Building Family Wealth Over The Next 5 Years | Keeping Current Matters

As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate.

For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road?

Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them to project how residential prices will appreciate over the next five years. According to their latest survey, here is how much value that $250,000 house will gain in the coming years.

Family Wealth Earned with Home Equity | Keeping Current Matters

Over a five year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.

Bottom Line

If you are looking to better your family’s long-term financial situation, buying your dream home might be a great option.


Today

Multicultural Storytelling from Around the World — Enjoy the dramatic art of storytelling while discovering different tales from around the world. Each month we feature a different continent, join us for European stories in December, 2:30 p.m. at Longmont Public Library, 409 Fourth Ave. Call 303-651-8477.

Winter Solstice Exploration — On the longest night of the year, when the veils are thin, we gather again to find seeds of light in ourselves so we may help bring peace to our hearts and our planet. This is a participative, ritual exploration that involves contact dance, blind-folds and silent meditation in the dark, 6:30 p.m. at Double Rainbow Ranch Yoga Studio, 6541 N. 63rd Street, Niwot. Cost is $20. Go to doublerainbowranch.com.

Tuesday

String Cheese/Pizza Cheese — Here's a fun cheesemaking class just for kids! Get very hands-on with our 30 minute mozzarella recipe and finish off our homemade cheeses as string cheese and pizza cheese, 10 a.m. at The Art of Cheese at Haystack Mountain Goat Cheese Creamery, 505 Weaver Park Road, Longmont. Cost is $30. Go to theartofcheese.com.

Big Kids Christmas Ornament — Making For ages 5 to 12, create Christmas and holiday decorations with your children, 10 a.m., 11:45 a.m. and 2:30 p.m. at Longmont Museum, 400 Quail Road, Longmont. Cost is $5. Go to longmontcolorado.gov.

Santa Visits the Longmont Museum — Bring your last minute wishes to see if you've made it onto the nice list, noon at Longmont Museum, 400 Quail Road, Longmont. Got to longmontcolorado.gov.

Wednesday

David Sheingold — Live music, 6 p.m. at Still Cellars, 1115 Colorado Ave, Longmont. Go to stillcellars.com.

Willie Bean Bluegrass — Live music, 7 p.m. at Rosalee's Pizzeria, 461 Main St., Longmont. Call 303-485-5020.

Open Bluegrass Pick hosted by Eric Wiggs — Live music, 8 p.m. at Longs Peak Pub, 600 Longs Peak Ave, Longmont. Go to mountainsunpub.com.

Thursday

Christmas Eve Services — Christmas Eve Services are at 4 p.m. and 6 p.m. Christmas Eve Services with Candlelight Services are at 9 p.m. and 11 p.m. at Life Bridge Church, 10345 Colo. 66, Longmont. Go to lbcc.org.

Christmas Eve Service — The service will be held at 6 p.m. at St. Brigit Episcopal Church, 110 Johnson St., Frederick. Go to stbrigit.org.

Christmas Eve Service — There will be services at 5 to 7 p.m. at Rinn United Methodist Church, 3783 Weld County Road 20, Longmont. Go to rinnumc.org.

Open Mic Hosted By Brian Rezac — Live music, 7 p.m. at Dickens Opera House, 300 Main Street, Longmont. Go to dickensoperahouse.com.

Friday

Christmas Dinner at the Niwot Tavern — The Niwot Tavern hosts its annual complimentary Christmas dinner for those in need, alone, or in special circumstances where they can benefit from this dinner, 2 to 5 p.m. at Niwot Tavern, 7960 Niwot Road, Niwot. Go to niwottavern.com or call 303-652-0200.

Saturday

American Legion Blood Drive — Donations will be taken inside the legion hall, 8 a.m. at Longmont American Legion, 315 South Bowen St. Call Marion Herman at 303-776-7679 or visit bonfils.org.

Starbucks Blood Drive — Donations will be taken inside the bloodmobile, 9 a.m. to 11:10 a.m. and 12:30 to 2:30 p.m. at Starbucks, 1087 S. Hover St., Longmont. Call 303-363-2300 or visit bonfils.org.

Jesse R. S. — Live music, 5 p.m. at Left Hand Brewing Co., 1265 Boston Ave., Longmont. Call 303-772-0258.

Heartwood — Live music, 8:30 p.m. at The Roost, 526 Main St, Longmont. Call 303-827-3380.

Sunday

Ladies Auxiliary Breakfast — Enjoy eggs, bacon, sausage, hash browns, French toast, pancakes, biscuits and gravy, toast, coffee, tea and orange juice, 8 a.m. at Longmont American Legion, 315 South Bowen St. Adults are $8 and kids are $5. Call 720-635-0840.

• Bluegrass Pick with Bonnie & Taylor Sims —Live music, noon, Sunday, Oskar Blues Homemade Liquids and Solids, 1555 S. Hover Road, Longmont. Call 303-485-9400.

 

To see more events for the Longmont-area or to submit an event, go to timescall.com/events.


Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner

by Cory Dudley

Selling Your House? 5 Reasons You Shouldn't For Sale By Owner | Keeping Current Matters

In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of those reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always, find some problems with the house
  • The appraiser if there is a question of value

2. Exposure to Prospective Purchasers

Recent studies have shown that 89% of buyers search online for a home. That is in comparison to only 20% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 44% on the internet
  • 33% from a Real Estate Agent
  • 9% from a yard sign
  • 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $210,000 while the typical house sold by an agent sells for $249,000. This doesn’t mean that an agent can get $39,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.


How Long Does It Take To Save A Down Payment?

by Cory Dudley

How Long Does It Take To Save A Down Payment? | Keeping Current Matters

In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

Years Needed to Save 10% Down | Keeping Current Matters

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

Years Needed to Save 3% Down | Keeping Current Matters

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.


This Week's HOT BUY: 515 Abbey Drive, Longmont

by Cory Dudley

Welcome to your dream home.

This house is incredibly spacious with an open floor plan and a spectacular master suite!

Beautifully remodeled from top to bottom. Updated kitchen with new slab granite, stainless appliances, and dazzling backsplash. New exterior paint. New interior paint, carpet, and tile. Beautiful updated baths with designer tile and granite countertops. New doors and bronze hardware. New light fixtures including ceiling fans in many rooms.

Updated plumbing and electrical. Professionally landscaped with a full sprinkler system.

Nothing left to do but move in and enjoy.

Call us to schedule your private showing of this, and many other, properties for sale.

Listed by A Better Way Realty, MLS#9139849


Buying A Home? Do You Know The Difference Between Cost & Price?

by Cory Dudley

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home.

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about three-quarters of a percentage point over the next twelve months.

According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if home prices appreciate by the 5.2% predicted by CoreLogic over the next twelve months:


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