State appliance rebates starting soon

If you plan on buying a new appliance or two this year, you've picked the right time.

The state of Colorado is tentatively scheduled to implement a mail-in rebate program to help residents replace older, inefficient appliances with ENERGY STAR® qualified appliances in March. The program will continue until the state runs out of the more than $4.7 million set aside for the rebate.

Eligible products include:
• Refrigerators
• Clothes washers
• Dishwashers
• Gas storage water heaters
• Gas, tankless water heaters
• Gas furnaces
• Gas boilers

Check with state officials for information on proper recycling or disposal of appliances. For more information about this and other rebates, visit http://www.colorado.gov/energy/index.php?/resources/rebates-for-program-participants.

Survey shows prices, sales activity improving in existing-home market

The National Association of Realtors reported strong gains in existing-home sales as well as rising prices in many metro areas during the fourth quarter of 2009.

The NAR’s latest surveys showed that sales increased from the third quarter of 2009 to the fourth in 48 states and the District of Columbia, with 32 states experiencing double-digit gains. And all but three states saw double-digit annual increases.

Total national existing-home sales, including single-family and condos, jumped 13.9 percent to a seasonally adjusted annual rate of 6.03 million in the fourth quarter from 5.29 million in the third quarter, and are 27.2 percent above the 4.74 million-unit level in the fourth quarter of 2008. Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier, according to the NAR.

Colorado saw an increase in sales of existing homes including single-family, condos and co-ops of 15.1 percent from the third quarter to the fourth, and a 10.3 percent increase from the fourth quarter of 2008 to the fourth quarter of last year.

Lawrence Yun, NAR chief economist, says the first-time home buyer tax credit was the dominant factor in the upswing.

“The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates,” he says. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

In the fourth quarter, 67 out of 151 metropolitan statistical areas reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases; one was unchanged and 84 metros had price declines. In the third quarter only 30 MSAs showed annual price increases and 123 areas were down.

In Colorado, Boulder saw a 3.2 percent year-over-year increase, while Colorado Springs prices increased 1.5 percent and Denver-Aurora’s 11.2 percent.

The national median existing single-family price was $172,900, which is 4.1 percent below the fourth quarter of 2008; the median is where half sold for more and half sold for less. “This is the smallest price decline in over two years, with the most recent monthly data showing a broad stabilization in home prices,” Yun says.

“Because buyers are taking on long-term fixed rate mortgages, avoiding adjustable-rate products, and trying to stay well within their budgets, the price recovery process appears durable,” he says.

Louisville tops list of Best Places to Live

Colorado seems to have representation on every “best of” list out there, so it’s no surprise that yet another Colorado community heads up Money magazine’s latest Best Places to Live ranking of America’s small towns.

With a population of 18,800 people, a strong economy and plenty of outdoor activities, Money ranked Louisville as the best place to live for 2009. Ranked 13th, another Boulder County community – Superior – was the only other Colorado town to appear on the list.

Money’s findings were based on measuring and weighting factors Americans value most, including jobs and a strong economy, low crime, affordable homes, activities, schools, health care, diversity, weather and more. In addition to those factors, Money looked for that something special, such as community spirit, positive attitudes and old-fashioned charm, that makes a town the place to raise a family.

The magazine highlighted Louisville’s ice cream shops and Waterloo Café; its summer-long Friday-night street fair, complete with a beer garden, live music, and games for the kids, that runs all summer; a low unemployment rate, thanks to “robust” industries including high-tech, energy and health-care; high-rated schools; and plenty to do outdoors, such as nearly 30 miles of trails, Rocky Mountain National Park that is less than an hour away and world-class ski resorts within a two-hour drive. Those factors, along with great weather, little crime rate, good health care and low taxes make Louisville the town to beat.

Money reported that, with Denver, Boulder, and Eldora Mountain Ski Resort each less than an hour away, Superior’s name reflects its location, as well. Its 27 miles of trails, 594 acres of parks and open space, and nearby employers including University of Colorado, Sun Microsystems, IBM and Ball Aerospace, make Superior an ideal town to live in, as well.

Here’s a look at the small towns that made Money’s top 10 Best Places to Live 2009: