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Don’t Get Caught in the ‘Renter’s Trap’

by Cory Dudley

Don’t Get Caught in the ‘Renter’s Trap’

 

Don’t Get Caught in the ‘Renter’s Trap’ | Keeping Current Matters

There are many benefits to homeownership, one of top ones, is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.

The National Association of Realtors (NAR) just released their findings of a study in which they studied “income growth, housing costs and changes in the share of renter and owner-occupied households over the past five years in metropolitan statistical areas throughout the US.”

Don’t Become Trapped

The study revealed that over the last five years, a typical rent rose 15%, while the income of renters grew by only 11%. If you are currently renting, this disparity in growth could get you caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment.

The top 5 markets where renters have seen the highest increase in rents since 2009 are:

  • New York, NY (50.7%)
  • Seattle, WA (32.4%)
  • San Jose, CA (25.6%)
  • Denver, CO (24.1%)
  • St. Louis, MO (22.3%)

Homebuyers, who were able to purchase their home over the same five-year period and lock in their housing costs, were able to grow their net worth as home values have increased and their mortgage balances have gone down.

Know Your Options

Perhaps you have already saved enough to buy your first home. HousingWire reported that analysts at Nomura believe:

“It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. 

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)

According to Freddie Mac:

“Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 to 10%. And new 3% down financing options for qualified borrowers could mean a down payment as little as $6,000 for a $200,000 home.”

Bottom Line

Don’t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Have a professional help you determine if you are eligible to get a mortgage.

 

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
 

Billionaire Says Real Estate is Best Investment Possible

by Cory Dudley

Billionaire Says Real Estate is Best Investment Possible

 

Billionaire Says Real Estate is Best Investment Possible | Keeping Current Matters

llionaire money manager John Paulson was interviewed at the Delivering Alpha Conference presented by CNBC and Institutional Investor. During his session he boldly stated:

"I still think, from an individual perspective, the best deal investment you can make is to buy a primary residence that you're the owner-occupier of.”

Who is John Paulson?

Paulson is the person who, back in 2005 & 2006, made a fortune betting that the subprime mortgage mess would cause the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell. What do others think of Paulson?

According to Forbes, John Paulson is:

“A multibillionaire hedge fund operator and the investment genius.”

According to the Wall Street Journal, Paulson is:

“A hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were.”

Why does he believe homeownership is such a great investment?

Paulson breaks down the math of homeownership as an investment:

"Today financing costs are extraordinarily low.”

The latest numbers from Freddie Mac show us that you can still get a 30-year mortgage for under 4%.

“And if you put down, let's say, 10 percent and the house is up 5 percent,” as many experts predict, “then you would be up 50 percent on your investment."

How many are seeing a 50% return on a cash investment right now?

Paulson goes on to compare the long term financial benefits of owning verses renting:

“And you’ve locked in the cost over the next 30 years. And today the cost of owning is somewhat less than the cost of renting. And if you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed.”

Bottom Line

Whenever a billionaire gives investment advice, people usually clamor to hear it. This billionaire gave simple advice – if you don’t yet live in your own home, go buy one.

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn

Freddie Mac’s New 3% Down Program

by Cory Dudley

Freddie Mac’s New 3% Down Program

 

 

Freddie Mac's New 3% Down Program | Keeping Current Matters

 

Today, Freddie Mac is scheduled to start buying mortgages with down payments of only three percent – the first time down payments have been this low on Freddie Mac loans in nearly five years. The program is called Freddie Mac Home Possible AdvantageSM.

In a recent Executive Perspectives, Dave Lowman EVP, Single-Family Business Freddie Mac, explained the potential impact this program will have on the housing market:

“There's a new reason Realtors and lenders may expect more qualified borrowers at the closing table during this spring's home buying season. In addition to low mortgage rates and rising job growth, the down payment hurdle is starting to shrink for creditworthy borrowers, including first-time homebuyers.”

And the mortgage industry agrees with Mr. Lowman. In a recent survey of mortgage originators by the National Association of Realtors (NAR), it was revealed that most loan officers believe the move to a lower down payment will increase access to mortgage credit. Here are that survey’s findings:

Down Payment Survey | Keeping Current Matters

Bottom Line

Many potential buyers are “ready and willing” to buy a home but have been afraid they may not be “able” because of a lack of adequate savings for a down payment. Check with a local real estate or mortgage professional to understand what the new rules may mean to you.

 

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
 
 
 

Longmont-area events for the week of March 23: Hops + Handrails

Shared from the Longmont Times Call
 
Hops   Handrails from Left Hand Brewing is at  noon, Saturday at Roosevelt Park, 700 Longs Peak Ave., Longmont.
Hops Handrails from Left Hand Brewing is at noon, Saturday at Roosevelt Park, 700 Longs Peak Ave., Longmont. (Times-Call file)
 

Monday

Chess Club —Children of all levels are welcome to join but best for ages 7 and up. No registration is required, 7 p.m., Monday, at the Longmont Public Library, 409 Fourth Ave., Longmont. Call 303-651-8470.

Whoo Are the Owls? —Presented by Boulder County Parks & Open Space. Learn about the owls of Boulder County, 7 p.m., Monday, Louisville Public Library, 951 Spruce St., Louisville. Go to www.louisville-library.org.

Tuesday

NanoDays —Celebrating the science of the small, 10 a.m Tuesday through Thursday at Wow Children's Museum, 110 N. Harrison Ave., Lafayette. Cost is $9 for child and free for adults and infants. Go to www.wowchildrensmuseum.org.

Save Your Stuff —Explore options for saving your photos, videos, and documents in the age of mobile devices and cloud computing, 1 p.m., Tuesday, Carbon Valley Regional Library, 7 Park Ave., Firestone. Call 970-506-8560 or go to www.MyLibrary.us.

Wednesday

Advertisement
 

Davy Allard —Live performance, 7 p.m., Wednesday, Rosalee's Pizzeria, 461 Main St., Longmont. Call 303-485-5020 or go to rosaleespizzeria.com events.

"Oh, Mary" Show —Join radio hosts Mary Kennedy and Paul Jacek for a special live appearance, 8 p.m., Wednesday, Dickens Opera House, 300 Main St., Longmont. Cost is $16. Call 720-297-6397.

Thursday

John McKay —Live performance, 7 p.m., Thursday at City Star Brewing, 321 Mountain Ave., Berthoud. Call 970-532-7827 or go to citystarbrewing.com.

Otto Koch —Live performance, 7 p.m., Thursday, Larry's Guitar Shop, 508 Fifth Ave., Longmont. Call 720-340-4169 or go to larrysguitars.com.

Friday

Fine Arts Festival —Every spring, the Visual and Performing Arts Departments at Skyline High School come together to celebrate National Youth Arts Month, 5:30 p.m. Friday at Skyline High School, 600 E. Mountain View Ave., Longmont, $2. Call 720-494-3741 or go to skylinevpa.weebly.com.

Screening of "The Little Things" —The movie project based on six environmentally conscious snowboard riders who are inspirational through their riding as well as their sustainable ways of living and thinking, 7 p.m. Friday at Firehouse Art Center, 667 Fourth Ave., Longmont. Cost is $5. Call 303-651-2787 or go to www.firehouseart.org.

Saturday

Hops + Handrails from Left Hand Brewing —The hybrid winter event will feature a 50 craft brewery fest alongside a 40' high snowboard ramp & rail jam competition, noon, Saturday at Roosevelt Park, 700 Longs Peak Ave., Longmont. Cost is $5 to $30. Go to bit.ly/Hops2015.

Peeps Diorama Contest —Peeps Diorama Open House, stop by the library for an entry form, 1 p.m., Saturday at the Longmont Public Library, 409 Fourth Ave, Longmont. Call 303-651-8472 or go to www.longmontcolorado.gov/library.

Dancing With The Silver Creek Stars Silver Creek High School Booster Club presents five Silver Creek staff and professional dancers from Grace Studios will perform in the event benefitting the Silver Creek High School Raptor Activitis Booster Club, 5:30 p.m., Saturday, March 28, 2015, Pacific Event Center, 1330 Main St., Longmont. Cost is $35. Go to schs.svvsd.org/community/booster-club.

Sunday

Sensory Friendly Playtime —A museum event for children with autism or sensory processing disorders, 9:30 a.m., Sunday at Wow Children's Museum, 110 N. Harrison Ave., Lafayette.

Hartwood Duo — Live performance, 4:30 p.m., Sunday at Left Hand Brewing Company, 1265 Boston Ave., Longmont. Call 303-772-0258 or go to lefthandbrewing.com/events.

 

For more events or to submit an event, go to timescall.com/ events/things-to-do.

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn

Longmont-area events for the week of March 16: A presentation on Boulder County weather

A Birds-Eye View: Boulder County Weather with volunteer naturalist Phil Ecklund is at 7 p.m. Tuesday, at the Longmont Public Library. (Times-Call file)

Today

Fungram: Introductory Programming and Robotics Course This is an introductory Programming and Robotics course targeted for ages 9 and up, 4 p.m. at the Erie Community Library, 400 Powers St., Erie. Call 720-685-5200 or go to www.fungram.co.

Movie Mondays with "Whiplash" Bring your own snacks, organic drinks provided, 7p.m. at Still Cellars, 1115 Colorado Ave, Longmont, $5. Go to www.stillcellars.com.

Tuesday

Green Dinner: St Patrick's Day Fundraiser for Sustainable Revolution Longmont— Come on out for dinner with members of the Sustainable Revolution Longmont board, volunteers, community and the Youth of the Earth Council. When you mention Sustainable Revolution Longmont with your purchase, a percentage will be donated to the group, 5 p.m., Tuesday at Mod Market, 700 Ken Pratt Blvd, Longmont. Call 720-494-1655.

A Birds-Eye View: Boulder County Weather Volunteer naturalist Phil Ecklund will present on Boulder County's weather from the perspective of a glider pilot, 7 p.m., Tuesday, Longmont Public Library, 409 Fourth Ave., Longmont. Call 303-651-8477.

Wednesday

Job Hunter Workshop — Stop by for a question and answer session with Tom Fritz and Jane McKean, 6:30 p.m. Wednesday, Longmont Public Library, 409 Fourth Ave., Longmont. Call 303-651-8472.

Lyons Local Music Night —Music begins at 8:30 p.m. Wednesday at Oskar Blues Grill & Brew, 303 Main St., Lyons. Call 303-823-6685 or go to eat.oskarblues.com.

Thursday

Friends of the Longmont Library Book Sale —The book sake is from 6 to 8:30 p.m. today, 9 a.m. to 4:30 p.m. Friday and Saturday, and 1 to 4 p.m. Sunday at the Longmont Public Library 409 Fourth Ave., Longmont. Call 303-651-8477 or go to www.FriendsoftheLongmontLibrary.org.

Stories from our Past: Otto Mears — Railroad Pioneer Steve Lee portrays Otto Mears, 6:30 p.m., Thursday, Erie Community Center, 450 Powers St., Erie. Go to www.MyLibrary.us.

Friday

Bringing Music to Life Monetary donations and donations of musical instruments will be accpeted for the Colorado Nonprofit Development Center's "Bringing Music to Life" campaign, 2:30 p.m. Friday at Silver Creek High School, 4901 Nelson Road, Longmont. Go to www.facebook.com/bringingmusictolifecapstone.

Friday Afternoon Concert & Art Show: Faur and Friends— Arts Longmont presents Faur and Friends, 2:30pm. Friday at the Longmont Senior Center, 910 Longs Peak Ave, Longmont, $8. Call 303-678-7869 or go to www.artslongmont.org.

Saturday

STEAM Day— Come have fun and explore science, technology, engineering and math (STEAM) in this hands-on expo designed especially for kids. Learn to solder, drive a robot, build a rocket, check out the Doppler on wheels weather radar, watch a liquid nitrogen demonstration, noon on Saturday, Silver Creek High School, 4901 Nelson Road, Longmont. Admission is free. Go to www.facebook.com/steamdaygs.

Cheesemaking Class— Learn an easy and delicious 30 minute mozzarella recipe, 5 p.m. Saturday, The Art of Cheese at Launch Longmont, 350 Terry St., Longmont, $39. Call or go to theartofcheese.com.

Sunday

Yarn Bomb Longmont Library —Bring an old scarf or a piece of knitting or crocheting to decorate the Library. You don't have to be a pro, 10 a.m. Sunday, Longmont Public Library, 409 Fourth Ave., Longmont. Register by calling 303-651-8477.

Longmont Youth Symphony Winter Concert —Listen to the music of Russian composers Shostakovich and Tchaikovsky, as well as modern New Mexico composer Michael Mauldin, 2 p.m. Sunday, Longmont High School, 1040 Sunset St., Longmont, $5-$10. Call 303-776-6014 or go to www.longmontyouthsymphony.org.

 

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn

Selling Your Home? The Importance of Using an Agent

by Cory Dudley

Selling Your Home? The Importance of Using an Agent

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past two years, 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ most recent Profile of Home Buyers & Sellers.

However, the report also revealed that for the second year in a row 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.

Buyers search for a home online but then depend on an agent to find the actual home they will buy (53%) or negotiate the terms of the sale & price (31%) or understand the process (63%).

Stephen Phillips, the Chief Operating Officer for HSF Affiliates LLC, put it best:

“Home buyers are more informed than ever with their Internet searches and ongoing research; however, there’s a critical need to transform that information into analysis and advice that helps consumers make the best home-buying and selling decisions.

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn

Hurry Up!! Call your Agent and List your House!!

by Cory Dudley

Hurry Up!! Call your Agent and List your House!!

Hurry Up! Call your Agent & List your House! | Keeping Current Matters

That headline might be a little aggressive. However, as the data on the 2015 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

We realize that existing home sales stumbled in January compared to December. But, if we compare the current September-January time period to the same period a year ago, we can see that existing home sales have outpaced last year every month with the January sales numbers 200,000 homes greater than last January:

Existing Home Sales Report | Keeping Current Matters

Pending home sales (houses going into a contract) as reported by the National Association of Realtors have also done much better in the last five months compared to a year earlier:

Pending Home Sales Index | Keeping Current Matters

And, buyer demand is continuing to skyrocket:

Buyer Activity | Keeping Current Matters

At the same time, the amount of housing inventory coming to the market compared to last year is plummeting:

Inventory Levels Year-over-Year | Keeping Current Matters

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Call in a local real estate professional today to see whether that is the case in your neighborhood.

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.pnuTzpWL.dpuf

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.pnuTzpWL.dpuf

The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.pnuTzpWL.dpuf

Erie set to revive farmers' market

by Cory Dudley

Erie set to revive farmers' market

Mayor hopes new day, owner will make it sustainable

shared from Longmont Times Call
 
Johna Chamberlain and her son, Curtis, 3, look over new tomato plants in the greenhouse at Dragonfly Farms. The farm will be a vendor at the Erie Farmers' Market, which will Thursday evenings June 18 through Sept. 17. (Cliff Grassmick / Staff Photographer)
 

If you go

What: Erie Farmers' Market

When: 5 to 8 p.m. Thursdays, June 18 through Sept. 17

Where: Old Town Erie, Wells Street between Pierce and Briggs streets

More info: www.facebook.com/eriesfarmersmarket

A new farmers' market is coming to Erie this summer after a failed first run left the community without a market last year.

The former Erie Farmers' Market owner, Penny Peterson, canceled the Saturday morning events after five years, despite moving the market to a more visible location on Wells Street in 2013.

This summer a new owner, Kelly Williams, is bringing her farmers' market to Erie, giving residents the local produce and community atmosphere they have been missing.

More than two dozen vendors are expected to line Wells Street between Pierce and Briggs street s Thursday evenings June 18 to Sept. 17.

The markets will run from 5 to 8 p.m. in Old Town targeting locals who are already in the area visiting nearby restaurants and breweries, said Mayor Tina Harris.

"On Thursday nights, people are already out enjoying local eateries ... where as on Saturday mornings, there are not a ton of places open to draw people out there," Harris said. "The community is definitely in need of a farmers' market and I think moving the day of the week will make it more sustainable."

The market also provides an opportunity for Old Town establishments to boost business on Thursday nights, Harris said.

"It's another event that will draw our community into the center, the heart, of our town," Harris said.

Williams also runs farmers' markets in Lafayette and Louisville and hosts holiday markets around Boulder County.

"As a town, Erie is on the edge of exploding," Williams said. "It's in the place that Louisville was when we started that market and it's extremely successful now."

Live music from local bands will create a community gathering space at the Erie market, Williams said, making it more than a place to find local produce.

"We're focused on getting Colorado fresh foods out there first," Williams said. "But secondly we want to create a community gathering place."

Boulder-based Dragonfly Farm was one of the first vendors to sign up for the Erie market.

The 20-year-old family farm has had mixed results at area farmers' markets, said Johna Chamberlain, whose parents own the farm. After taking a couple of years off to start a family, Chamberlain said, the farm is branching back out into markets in Louisville and Erie.

The farm hopes to sell some transplants and fresh veggies, including tomatoes, summer squash, zucchini, kale, broccoli, garlic and herbs at the summer markets.

"We don't have a lot of Erie customers now, so this will be our introduction to the community," Chamberlain said.

Housing Market to “Spring Forward”

by Cory Dudley

Housing Market to “Spring Forward”

Housing Market to “Spring Forward” | Keeping Current Matters

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward”! Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong and is currently three times stronger than last year at this time.

The National Association of REALTORS (NAR) recently reported that the top 10 dates sellers listed their homes in 2014 all fell in April, May or June.

Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2015, give me a call to evaluate the opportunities in your market.


The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501 | o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501
o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.XBxs6lO4.dpuf
The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501
o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.XBxs6lO4.dpuf
The Winning Team Real Estate Group at Old Town Real Estate Co.
522 Kimbark Street • Longmont, Colorado 80501
o:303.776.4004 • c:303.641.8597 • f:303.776.4661
Email: cory@justlistedcolo.com  Connect:  Twitter | Facebook | LinkedIn
- See more at: http://www.winningteamrealestategroup.com/Blog#sthash.XBxs6lO4.dpuf

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