Where the mall ends and hip East Pearl begins sits a new mixed-use building with only five units left.
Coburn Development has a goal of sustainability at 1505 Pearl. Components such as a solar electric system with the possibility of no electric bill, renewable resources, energy efficient fixtures, better indoor air quality, water conservation and an ideal location are all built-in.
This is smart urban living just off Pearl Street Mall, offering elevator 
security with underground parking and storage. Upscale and modern interior finishes include hardwood floors; Caesar Stone countertops; cherry cabinets; Bosch/Wolf/Sub-Zero stainless steel appliances; Kohler/Toto/Grohe, Italian and glass tile; private terraces; fire places; pantries; and open floor plans.
The remaining units are ready for move-in, with prices ranging from $728,000 to $1,966,000. Contact me for details.
1505 Pearl
How much of costs remodelers will recoup is down – but not as much as expected
Though how much homeowners recouped from their remodeling projects dropped from 2007 to 2008 compared with the previous year, they didn’t nosedive as would be expected from the negative reports concerning the real estate market. And they certainly didn’t drop as much as they did from 2006 to 2007.
According to Remodeling magazine’s Remodeling Cost vs. Value Report 2008-09, the decline of the average cost-value ratio across all projects was only 3.86 percent, just 2.7 points down from 2007. Only three upscale projects – bathroom remodel, deck addition (composite) and siding replacement (foam-backed vinyl) – saw an increase in costs recouped from 2007 to 2008.
The new report shows the trend of smaller, lower-cost maintenance-related projects continuing as the most popular and recouping the most upon resale. Siding and window replacement occupy seven of the top 10 rankings for costs recouped. Remodeling magazine attributes that, in part, to the fact that they’re usually necessary repairs involving durable, low-maintenance materials and improve curb appeal, and partly because, at a construction cost of between $10,000 and $14,000, they’re among the lowest-priced projects in the survey. Energy efficiency and prices also play a major role in costs recouped from window replacement, especially in homes more than 15 years old in which new windows also reduce maintenance and increase curb appeal.
On the other hand, trends show that the upscale versions of deck, garage and master suite additions and roofing replacements score lower than the midrange versions – reaffirming that homeowners scale back during economic downturns, according to Remodeling magazine. And other low-scoring projects – back-up power generator, home office remodel and sunroom additions – are often not improvements worth paying for for many potential buyers.
Here’s a look at some remodeling projects, their costs, the amount recouped in resale and how the current figures compared with the last report:
Source: Remodeling magazine
Boulder named one of healthiest places to retire
The city of Boulder is among America’s Best Healthy Places to Retire, according to U.S. News.
The newsweekly cited amenities such as the Rocky Mountains, walking trails, farmers’ market, and city-staffed senior services and programs at two recreation centers that make Boulder attractive for seniors looking to live long and well. The abundance of active college students spur the seniors to stay young and healthy themselves through exercise and shopping at the many local natural-food shops.
The downside to retiring in Boulder is its cost of living, but golf isn’t so expensive, according to retirees interviewed for the article. And, with plenty of walking and bike trails to help them get around, they can at least save on gas or, as one interviewee said, they can stay home – they’re retired.
Other cities that made the list were:
• Bella Vista, Arkansas
• Green Valley, Arizona
• Issaquah, Washington
• Longmeadow, Massachusetts
• Portland, Maine
• Punta Gorda, Florida
• Reston, Virginia
• Walnut Creek, California
Declining real estate market still offers pockets of opportunity
First glance at the November real estate statistics for Boulder County indicates the local market is following the downhill trend much of the nation has been on for a while. After all, sales have dropped by double digits year-over-year for all but two market areas, and many communities saw a reduction in both average and median sales price.
But Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor Association, says that while the picture will probably grow worse before it gets better, Boulder continues to show strength that will allow it to sustain the stormy weather still to come.
“I’ve been telling you for some time that things are going to get worst, and they have,” Hotard says. “It’s not going to be fun over the next 12 months, but we’ll get through it.
The communities suffering the most from the current market conditions include Lafayette, which saw an 18.8 percent drop in sales from January through November 2007 compared with January through November 2008; the plains, which had a 28.8 percent drop in sales; and Superior, with a 29.1 percent reduction in sales for year over year. In the city of Boulder, 17.5 percent fewer homes sold from January through November compared with the same period last year.
“Those are troubling numbers,” Hotard says.
However, the inventory of single-family homes on the market has remained steady in some markets and shrinking in others. In the city of Boulder, the inventory had decreased by 11 percent from October, while it dropped 5 percent in Longmont and 13.7 percent in the mountains.
“That ought to keep people positioned to move toward a more balanced market as we get into probably the second quarter of next year,” Hotard says, noting these conditions create sales opportunities, he doesn’t expect to see a significant increase in sales activity during the first half of 2009 and maybe not even before the end of next year.
Four out of nine of the county’s market areas saw decreases in both average and median sales prices for the year, but most of those decreases were still relatively small – the exception being Superior’s 12.3 percent decrease in average sales price – and the remaining five markets actually saw increases in both categories, he points out.
Inaction at the federal level is holding up improvement in the real estate market, Hotard notes. “There’s still some uncertainty of what our federal assistance programs are actually going to look like and do. We’re hearing of more investment of the fed to spur job creation and that will bring a lot of positive movement, but we need to get the credit market freed up and moving again” for significant improvement.
The most recent announcement by the Federal Reserve to reduce the prime interest rate by three-quarters of a point will translate into lower mortgage interest rates, opening doors of opportunity, Hotard says. For example, anyone with an adjustable-rate mortgage should consider refinancing within the next 90 days.
“While all real estate is local, all financing is individual,” he says. “For folks out there with good credit and equity in their homes, it will create an opportunity for increased refinancing. With prices down or steady, there are opportunities for home buyers, investors and those looking to change their lifestyle,” whether it’s moving up, downsizing, changing locations or going from renting to owning.
“In an overall sense, you can’t sugarcoat the current situation,” Hotard says. “What you can do is look for opportunity.”
On that note, Hotard sends to all RE/MAX of Boulder E-zine readers his “best wishes for a joyous holiday season and a prosperous New Year.”
Good Borrowers can Find Loans in Tight Times
BOULDER - Despite a global credit crisis, well-capitalized real estate investors with good credit and good projects can still borrow money, financial experts said during the Boulder Valley Real Estate Conference & Forecast.
The experts said the stabilization of the credit markets will be the first sign of a recovery.
"Don't watch the stock market; the importance here is to watch the credit markets," said Lou Barnes with Boulder West Financial Services.
Barnes said the U.S. government's $700 billion bailout plan is moving in the right direction, working to infuse capital into the credit markets.
Keith Dickelman, a commercial banking manager with Bank of the West, said credit standards are tightening, but that creates opportunity for good borrowers.
"With the uncertainty in the real estate industry, now is the perfect time to go out and establish yourself," Dickelman said. "But highly leveraged loans will be tough to get. Cash has always been king, but it's even more important during these times."
John Richert, a principal partner with Terrix Financial Corp., said the economy got caught up in "a perfect storm of leverage."
"Not only were the properties leveraged, and the borrowers were leveraged, but the lenders were leveraged as well," he said.
Brad Blackwell, an executive vice president and retail national sales manager with Wells Fargo Home Mortgage, said many people lost focus about investing in their homes.
"A home is always going to be a good investment," Blackwell said. "But it's a long-term investment and a place to live, it's not an investment to get rich quick."
Blackwell said lenders were also at fault by not following the basic principles of the industry - verifying a borrower's ability to repay the loan, willingness to repay the loan and commitment to repay the loan. No-stated income, subprime, and 0 percent down loans violated all those principles, he said.
Blackwell called for communities to institute financial literacy education into their schools.
BCBR Article By David Clucas December 2, 2008
Boulder Valley Fall Real Estate Conference and Forecast
Nov. 20 found more than 550 real estate agents, attorneys, bankers and other interested people from the Boulder, Denver Metropolitan and Fort Collins area gaining insight into the state of real estate from a panel of industry experts, including: Brad Blackwell, Wells Fargo retail national sales manager, Tracy Harlow, communications director from ConocoPhillips; Lou Barnes, owner of Boulder West Financial Services; and DB Wilson, managing broker of RE/MAX of Boulder, Inc.
According to DB Wilson, real estate prices in the Denver/Boulder area are stable or upward. He pointed out that the real estate prices in the area did not go up dramatically in the last five years, so it was spared of participating in the real estate "bubble." He compared the area's real estate prices to San Diego, where the prices rose dramatically and are now coming back down.
See DB's presentation here
The time is right for owning or buying a home in Boulder
.jpg)
If you own a house in
“Insofar as our market area is concerned, we really should be counting our blessings that we own property in the
Although the latest market statistics had a couple gloomy areas – such as a drop in the number of sales in every
“Stability in this environment can be a good thing,” Hotard says, noting that the “bad news keeps piling up” – such as Citigroup laying off 53,000 employees – and “announcements like that are probably not at an end yet." If this were an area where many of those primary jobs were lost, the picture would be darker, he says.
The fact that the federal government has yet to determine how to allocate $700 billion in bail-out funds isn’t helping the economy or the real estate market, Hotard says. Banks continue to sit on whatever funds they have, which is limiting its circulation in the economy through mortgages and other credit. “Until we see credit free up, we’re going to rock along month to month pretty much as we do now,” he says. “If it sits, it’s not working. It needs to be moving to create income.”
Hotard agrees with U.S. Treasury Secretary Henry Paulson that bailing out homeowners with upside-down mortgages – they owe more than their homes are worth – should not be the thrust of the bailout. Instead, the government should restore credit to the market. Regardless, Hotard expects no decisive action until the inauguration of the new president in January.
As far as the
“For folks who are looking to get in … this is great time to buy in the
And for those who have to sell, Hotard says, “get yourself a darn good Realtor. Now’s not the time to do it yourself. This is a tough market. This is when Realtors earn their keep, for sure.”
What’s hot and what’s not among today’s home buyers
The real estate market may be struggling, but buyers still know what they like and want in a home – and what they don’t.
According to Elizabeth Weintraub of About.com, buyers don’t want homes built in the 1980s, and they even pass up homes built from 1970 to 1999 in favor of newer or older ones. That means they’re likely to pass over homes with Formica counters, walnut cabinets and baseboards, shag carpet, gold-toned trim or avocado-colored appliances in favor of these more stylish abodes:
• Homes built pre-World War II, which includes homes with any kind of architecture with Ol
d World style, charm and character;
• Mid-Century homes, including those built in Cape Cod or Frank Lloyd Wright style and may have flat or shallow-pitched roofs, geometric shapes, cantilevered construction and open floor plans.
• Mediterranean with Spanish or Italian details such as wrought-iron accents, dramatic staircases, archways throughout and rounded wall corners and grand, covered entrances.
Fort Collins named best Colorado city for families
Business Week recently named
The magazine said the town, which is home to
Business Week named the best places state by state this year, instead of ranking them nationwide. It worked with OnBoard Informatics, a New York-based provider of real estate analysis, to select towns with a minimum of 50,000 residents and a median family income between $40,000 and $100,000. It then narrowed its search down with weighted criteria, including school performance, number of schools, household expenditures, crime rates, air quality, job growth, museums, parks, theaters and other amenities, and diversity. The magazine weighted school performance and safety most heavily, but also gave strong consideration to amenities and affordability.
The organizing principle was affordability, according to the magazine, so it weighted the results to prevent pricing out most readers. Some cities may have performed well in categories such as schools and amenities, but were too expensive for many to afford to live there. Other cities may have not made the list because of a higher cri
me rate.
Park Gables in Boulder
Park Gables is an enclave of 10 homes in the tradition of the Bungalow style in a gorgeous setting at the foot of Flagstaff Mountain and Boulder Creek - an easy walk to the West Pearl District and downtown Boulder. Each home features private outdoor spaces and an oversized two-car garage 
with ample storage for outdoor gear.
These easy-to-maintain homes include an HOA that manages everything from snow removal and lawn maintenance to exterior window washing and trash removal, making them perfect lock-and-leave homes for those with heavy travel schedules or who live in Boulder only part time.
Prices of these Bungalows start in the $900,000s and go up to $1,425,000; they range in size from 1,621 square feet to 2,529 square feet. The first phase will be ready for move in in winter 2008. For additional information, please contact me! 
Fitness In Balance offers exercise prescription, nutrition guidance and coaching
Shannon Derby is the fitness director for Mountain’s Edge Fitness Center in the Table Mesa Shopping Center and owner of Fitness In Balance Personal Fitness Training. She has worked full time in the fitness industry since 1991 and teaching fitness classes since 1986.
Shannon currently works individually with people looking to improve muscle tone, lose weight and train for specific athletic events as well as provides secondary rehabilitation after physical therapy. Fitness and health are passions for Shannon: she delights in sharing her enthusiasm and knowledge with everyone she encounters.
The University of Colorado in Boulder provided Shannon with her two degrees, one in psychology and one in kinesiology. Shannon has been a nationally certified instructor and personal trainer since 1986. She also works for the original indoor cycling company Spinning© as a Master Trainer and Instructor.
Shannon enjoys the outdoors here in beautiful Boulder alone, with clients, groups and her son. She’d love to meet you and help you with any fitness or health-related questions you might have. If you don’t run into her on the trails, you can reach Shannon at msderby1@comcast.net or by phone at the Mountain’s Edge, 303-494-5000.
Established Arapahoe Ridge offers convenience and character
Arapahoe Ridge in Boulder is a neighborhood that’s been around long enough to have established its own character while offering amenities that attract everyone from retirees and professionals to mid-age and young families. Neighbors are warm, friendly and eager to help each other out, so once new home owners move in, they usually stay.
Located between Arapahoe and Pennsylvania avenues and Foothills Parkway and 55th Street, Arapahoe Ridge is made up of mostly ranch-style, two-story and tri-level homes built between 1966 and 1976. The homes in Arapahoe Ridge all have two-car garages and generous backyards. Sale prices in the last year have ranged from $474,000 to $625,000, depending on the level of updating and house size.
The neighborhood has an excellent location on the Centennial Trail bike path and has great access to the Boulder Creek path. It is within easy biking distance of the East Boulder Recreation Center and is across the street from the new hospital and Flatirons Golf Course. And whether taking the convenient bus service to and through the neighborhood or private transportation, getting to Foothills Parkway, the Meadows Shopping Center and Meadows Branch Library and 29th Street Mall amenities from Arapahoe Ridge is a breeze.
Eisenhower Elementary School is central to Arapahoe Ridge and adjacent to the school is the Arapahoe Ridge Park featuring the famous rock cave, popularly known as the “rock park.”
To find out if Arapahoe Ridge is the kind of neighborhood you’re looking for, please give me a call..jpg)
Good news, bad news reflected in latest market stats
Given the recent events in the economy, it’s no surprise to Ken Hotard that the real estate market produced a mixed bag of statistics in September.
“There are two really big things that jump out at you: one is positive and one is negative but to be expected,” says Hotard, senior vice president of public affairs for the Boulder Area Realtor Association.
First, the number of homes sold is significantly down in nearly every category of dwelling unit and in almost every
“To me, that’s what those numbers reflect,” he says. “Folks are not able to get mortgages. People with good credit still are, but people right on the margin are finding it difficult and more costly to get (mortgages).”
On the other hand, the latest statistics show that the inventory of available homes in many parts of
But he says with the current market conditions, it’s not likely that the sales volume will pick up anytime soon. “This tight-credit thing is serious,” Hotard says.
Another positive aspect of the latest statistics is that average sale prices remained steady throughout
Hotard says it’s hard to say how the current economic situation will play out, as it’s a new experience for all involved.
“Don’t we wish we had a crystal ball?” he asks. “For a lot of people, this (the government’s solution) looks an awful lot like guesswork. We’re going to have to ride this out for a while until the picture clarifies for us. Those with money in the stock market have to hold their breath and ride this thing out.”
In the meantime, those with good credit and ready to buy real estate may get a good price now, but some buyers believe prices will drop even more if they wait, Hotard says. And even borrowers with great credit won’t likely find mortgages for nothing down; they should be prepared to bring 10 percent – if not 20 percent – of the loan to the closing table.
Posts
