Blog | RE/MAX of Boulder https://boulderco.com Real Estate Agents Focused on Client Success Fri, 12 Jul 2019 16:42:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 https://boulderco.com/wp-content/uploads/2019/04/remax-elevate-favicon-150x150.jpg Blog | RE/MAX of Boulder https://boulderco.com 32 32 Open Houses on Saturday, July 13 and Sunday, July 14 https://boulderco.com/open-houses-on-saturday-july-13-and-sunday-july-14/ https://boulderco.com/open-houses-on-saturday-july-13-and-sunday-july-14/#respond Fri, 12 Jul 2019 16:42:30 +0000 https://boulderco.com/?p=47636 Address (click on blue links below for photos/description)   City (click on blue links below for map)   Date RE/MAX of Boulder Realtors 9159 W 50th Lane, 203 Arvada SATURDAY 11 – 1 Terri Cox 3820 26th Street Boulder SUNDAY 2 – 4 Sherrie Lee 2813 Kenyon Circle Boulder SUNDAY 12 – 3 Bill Allen 536 […]

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Address (click on blue links below for photos/description)  

City (click on blue links below for map)

 

Date RE/MAX of Boulder Realtors
9159 W 50th Lane, 203 Arvada SATURDAY 11 – 1 Terri Cox
3820 26th Street Boulder SUNDAY 2 – 4 Sherrie Lee
2813 Kenyon Circle Boulder SUNDAY 12 – 3 Bill Allen
536 Maxwell Ave Boulder SUNDAY 11 – 1 Daryl Smith
2150 24th Street Boulder SUNDAY 1 – 3 Lynn Ryan
1627 17th Street Boulder SATURDAY 12 – 2 Denise Patryas
900 Pearl Street, 203 Boulder SATURDAY 2:30–4:30 Denise Patryas
1145 Jay Street Boulder SUNDAY 1 – 3 Angela McCormick
3171 4th Street Boulder SATURDAY 11 – 1 Brian Sundberg
2758 Arbor Glen Place Boulder SUNDAY 1 – 3 Kalinski Team – RE/MAX Elevate
1390 Fairfield Drive Boulder SATURDAY 2 – 4 Kalinski Team – RE/MAX Elevate
2946 Kalmia Ave, 57 Boulder SUNDAY 11:30-1:30 Kalinski Team – RE/MAX Elevate
4190 Eutaw Drive Boulder SUNDAY 11 – 2 Ann Cooper
5066 4th Street Boulder SUNDAY 1 – 3 Jed MacArthur
821 Lincoln Place Boulder SATURDAY 1 – 3 Patrick Dolan Team
1670 Linden Avenue Boulder SUNDAY 12 – 2 Patrick Dolan Team
7251 Siena Way A Boulder SUNDAY 1 – 3 Patrick Dolan Team
4647 S Hampton Circle Boulder SUNDAY 1 – 3 Patrick Dolan Team
4859 Hopkins Place Boulder SATURDAY 12 – 2 Steve Altermatt
9930 Memphis St Commerce City SUNDAY 2 – 4 Kelly Campbell – RE/MAX Elevate
2122 Redhead Dr Johnstown SUNDAY 11 – 1 Denise Patryas
2709 Muscovey Lane Johnstown SUNDAY 1:30-3:30 Denise Patryas
900 Sunny Way Lafayette SATURDAY 11 – 2 Paul Dart
4434 Angelina Circle Longmont SUNDAY 2 – 4 E and L Team – RE/MAX Elevate
793 W Tamarisk St Louisville SUNDAY 2 – 4 E and L Team – RE/MAX Elevate

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Buyers Gain Newfound Advantages in Boulder County https://boulderco.com/buyers-gain-newfound-advantages-in-boulder-county/ https://boulderco.com/buyers-gain-newfound-advantages-in-boulder-county/#respond Wed, 10 Jul 2019 19:45:24 +0000 https://boulderco.com/?p=47630 By Tom Kalinski, Broker/Owner, RE/MAX of Boulder May sales are up in Boulder-area markets, but unlike the usual seller-driven market, buyers are beginning to gain advantage. “There has been a turn in the market,” says Ken Hotard. He notes that inventory improved and prices are moderating across all areas as sellers adjust their prices to […]

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By Tom Kalinski, Broker/Owner, RE/MAX of Boulder

May sales are up in Boulder-area markets, but unlike the usual seller-driven market, buyers are beginning to gain advantage.

“There has been a turn in the market,” says Ken Hotard.

He notes that inventory improved and prices are moderating across all areas as sellers adjust their prices to make homes more attractive.

“Prices aren’t declining but they are no longer increasing as they have been for several years. The median price is below $1 million, which we haven’t seen in a while,” says Hotard. “This shift has materialized over a number of years. But the market is steady.”

Month-over-month sales for May were strong across Boulder-area markets. Single family home sales improved 35.2 percent in May compared to April, posting 515 vs. 381 homes. Condo and townhome sales tracked along the same line, improving 37.2 percent with 166 units sold vs. 121.

While May was robust, sales weren’t as strong in March and April and year-to-date sales are down in both markets. Single family home sales dropped 1.2 percent May compared to the prior year – 1,717 homes sold vs. 1,738—and condo/townhomes sales dropped 6.6 percent – 576 units vs. 617.

Inventory improved 19.1 percent for single-family homes and 19.9 percent for attached dwellings – 1,122 vs 942 homes and 319 vs. 266 attached units.

Hotard observes the market still has challenges: Prices are high even with the minor improvement in pricing and sales are lagging behind past years.

He expects that sales increases continued in June due to improved inventory and pricing. Yet, his outlook includes an earlier downturn than usual this summer. Typically, home buying season continues strongly through August and begins slowing in September. But this year Hotard says July will likely mark the beginning of the spring/summer market slowdown.

“If you’re a buyer, July would be a good time,” Hotard says.

____________________

About Tom Kalinski:

Tom Kalinski is a pillar of the Boulder Valley real estate community who was inducted into Boulder County’s Business Hall of Fame in 2016. Tom has vast inside knowledge of the Boulder County real estate market and an impressive 40-year background in commercial and residential real estate. Tom is the Owner and Founder of RE/MAX of Boulder, the top-producing local residential real estate company he established in 1977, which has grown to over 100 Realtors. RE/MAX of Boulder has been voted Best Real Estate Group by Boulder Weekly, Best Real Estate Company by Colorado Daily, and named #1 RE/MAX office in the U.S. for sales volume 8 times.

For questions, email Tom at tomkalinski33@gmail.com, call 303-441-5620, or visit boulderco.com.

 

 

 

 

 

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Part 2: Now is the Time to Buy College Housing https://boulderco.com/part-2-now-is-the-time-to-buy-college-housing/ https://boulderco.com/part-2-now-is-the-time-to-buy-college-housing/#respond Tue, 09 Jul 2019 17:34:05 +0000 https://boulderco.com/?p=47619 By Duane Duggan, Realtor, RE/MAX of Boulder Duane Duggan is an award-winning Realtor and author of the book “Realtor for Life.” __________________ In my last article, Part 1 of “Now is the Time to Buy College Housing” I discussed how buying a condo or house for your child to live in when going to college […]

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By Duane Duggan, Realtor, RE/MAX of Boulder
Duane Duggan is an award-winning Realtor and author of the book “Realtor for Life.”

__________________

In my last article, Part 1 of “Now is the Time to Buy College Housing” I discussed how buying a condo or house for your child to live in when going to college can be a worthwhile investment and can also have financial as well as other benefits for your college student.

As you evaluate this decision, here’s a guide to help you:

Helping Your College Student Establish Credit

If you decide to have your college student on the mortgage and deed, you can help your student establish credit prior to making a mortgage loan application by obtaining a credit card in his or her name, preferably a year prior to your house or condo purchase. In addition, if the student has a car, it is a good idea to have a small loan on the car in the student’s name, which can also help your student’s credit rating. It is also good idea to meet with a mortgage professional to discuss strategies well in advance of a possible purchase. 

Method of Ownership for the “Student Property”

It’s necessary to talk to your accountant and attorney to determine the ownership method that works best for you. Some parents will buy the property as a second home or as an owner-occupied property with the student on the deed and loan. Others will treat it 100% as a rental property for additional tax benefits. There are many ways of holding the title including creating a family limited liability company (or FLLC). 

Rental Roommate Income

One option is to buy a 1-bedroom condo for your student to live in alone. However, a 2-bedroom unit will allow for a roommate, and the rent from the roommate can supplement the mortgage payment. If a 3-bedroom unit or home can be found, the rental income from 2 roommates can help the monthly cash flow even more. Be aware that there are occupancy limits imposed in some communities. In other words, check the local ordinances before deciding if it is okay to have 5 students living in one property. In Boulder, zoning rules allow 3 unrelated people in a low-density zone and 4 unrelated people in a medium or high-density zone.

Roommate Lease or Rental Agreement

Even though the potential roommates are typically close friends, it is a good idea to have a written rental agreement for roommates. The roommate rental agreement should cover all of the terms typically found in a residential lease such as:

  • Lease term
  • Rental rate and due date
  • Security deposit
  • Notice to vacate
  • Utility payment agreement
  • Maximum occupancy
  • Parking
  • Pets

Financing for the “Student Property”

If a condo is being purchased, the type of financing and down payment options available can be determined by the owner occupancy ratio of the condo complex and what particular approvals (FHA, Fannie Mae, etc.) are available. It is good to have the lender check to see if the complex has the approvals for the type of financing you are considering.

Is it Better to Purchase a House or a Condo/Townhome?

This decision depends on whether or not the student will be able to maintain a house and be responsible for exterior maintenance, snow removal, lawn care, etc. Often a condo suits student life best since most college students are not interested in mowing the lawn in their free time. Typically, an owner will be paying a Homeowner’s Association (HOA) fee at a condo or townhome in order to cover these maintenance items. This will increase the monthly cost but will ensure that the upkeep and maintenance tasks are completed.

Advantages of a Condo for a Student

  • No lawn care, snow shoveling, or exterior maintenance
  • Easier to “just leave” for the summer

Disadvantages of a Condo for a Student

  • Owner occupancy ratio of the complex could affect the ability to purchase, sell or refinance
  • Homeowner’s Association fee may be high and out of your control
  • Loud music or parties might bother nearby neighbors

Advantages of the Single-Family Home

  • No concern over occupancy ratios
  • A single-family home might be easier to resell than a condo since you tend to have more competing properties when selling a condo or townhome
  • Often there is no Homeowner Association fee

Disadvantages of the Single-Family Home

  • The student needs to mow and water the lawn, shovel snow, and maintain the home
  • Neighborhood may be less friendly to a group of students living there

What to do with the Rental Property When the Student is Ready to Move On

When the student is ready to move on and has hopefully graduated, there are a few options to consider. The owners can keep the property as an investment rental, the former student may keep it as their first home, or you can exchange it for a real estate investment somewhere else.

As an example, one family I worked with purchased a property for their first child who attended and graduated from CU-Boulder, then sold the property in Boulder and bought a new property in a different college town where their next child was planning to attend school.

Potential financial benefits include:

  • Possible appreciation in value
  • Possible tax benefits
  • Debt reduction on an amortized loan which increases equity build up
  • Keep as an investment after college for cash flow

Purchasing a college home is a significant decision. Consulting the appropriate professionals can help create a plan for a housing situation that could provide many short- and long-term benefits for your student and your family.

_____________

About Duane Duggan:

Duane Duggan has been a Realtor for RE/MAX of Boulder in Colorado since 1982 and has facilitated over 2,500 transactions over his career, the vast majority from repeat and referred clients. He has been awarded two of the highest honors bestowed by RE/MAX International: The Lifetime Achievement Award and the Circle of Legends Award. Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life.

For questions, email Duane at DuaneDuggan@BoulderCo.com, call 303-441-5611, or visit boulderco.com.

 

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Part 1: Now Is the Time to Buy College Housing https://boulderco.com/part-1-now-is-the-time-to-buy-college-housing/ https://boulderco.com/part-1-now-is-the-time-to-buy-college-housing/#respond Tue, 09 Jul 2019 09:00:09 +0000 https://boulderco.com/?p=47624 By Duane Duggan, Realtor, RE/MAX of Boulder Duane Duggan is an award-winning Realtor and author of the book “Realtor for Life.”  _______________________ Every August, in college towns across America, college students start to return for the fall semester. This always creates a frenzy of real estate activity. The rental market is usually pretty tight in […]

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By Duane Duggan, Realtor, RE/MAX of Boulder
Duane Duggan is an award-winning Realtor and author of the book “Realtor for Life.”

 _______________________

Every August, in college towns across America, college students start to return for the fall semester. This always creates a frenzy of real estate activity. The rental market is usually pretty tight in any college town. Because of that, many families consider purchasing a home for their college student to live in while attending school. It usually takes 30 to 60 days to close on a home so NOW is the time to start looking for that perfect place.

This can prove to be a worthwhile investment financially as well as an excellent learning experience for the student. In Boulder, if a parent bought a condo in the 1980s and held on to it for four years, they most likely would have sold it for about what they paid for it. If a parent bought a condo in the 2012 and sold it in four years they most likely would have made enough profit to pay for their child’s in-state tuition at CU-Boulder. In 2019, there is an inventory shortage of available condos and there has been continued upward market pressure on prices. This all makes it tougher to find a place to buy, but history has proven it can be worth the effort.

Owning the property the student lives in while attending college can be beneficial in several ways. The student will have a greater sense of stability in not having to look for a different apartment to live in each year. In addition, you, as a parent, can pick the lifestyle that will help your student succeed in school by choosing the location and the quality of housing that best fits his or her needs. In the past, apartment rents in college towns typically increase on an annual basis. By purchasing a property with a fixed rate mortgage, your student’s housing expenses will be fixed. In addition, your student won’t have to deal with paying security deposits or going through the hassle of getting the deposit back. Having a single place to live in that you own means your student will not have to worry about storing furniture over the summer break. By purchasing a home for the student, you will be providing your child with an excellent learning experience. Your student will learn not only about the process of investing in real estate, but will also learn about the responsibilities that go along with property ownership.

In my own personal situation, I have two sons who attended the CU-Boulder. I bought them each a condo using owner-occupied FHA financing. Each lived in the unit and had a roommate paying rent to help pay the monthly mortgage. At the end of their college careers, they had built up significant real estate equity to utilize in the next phase of their lives.

I have also had clients who have bought real estate for two, three, or more of their children live in while attending college. In some cases, this spanned a 10-year time frame. Rather than throwing money down the “rent drain,” they have built equity in a real estate investment over this period of time.

Here’s a simple worksheet to help you determine the month-to-month expenses for owning a condo or house for your college student while you evaluate if this is the right decision for your family:

In my next article, “Part 2: Now Is the Time to Buy College Housing” I will provide you with a list of items to think about and plan for when deciding whether or not to buy a condo or a house for your college student.
 _________________________

About Duane Duggan:

Duane Duggan has been a Realtor for RE/MAX of Boulder in Colorado since 1982 and has facilitated over 2,500 transactions over his career, the vast majority from repeat and referred clients. He has been awarded two of the highest honors bestowed by RE/MAX International: The Lifetime Achievement Award and the Circle of Legends Award. Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life.

For questions, email Duane at DuaneDuggan@BoulderCo.com, call 303-441-5611, or visit boulderco.com.

 

 

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Open Houses on Saturday, July 6 and Sunday, July 7 https://boulderco.com/open-houses-on-saturday-july-6-and-sunday-july-7/ https://boulderco.com/open-houses-on-saturday-july-6-and-sunday-july-7/#respond Fri, 05 Jul 2019 16:01:36 +0000 https://boulderco.com/?p=47599 Address (click on blue links below for photos/description)   City (click on blue links below for map)   Date RE/MAX of BoulderRealtors 3820 26th Street Boulder SATURDAY 11 – 2 Sherrie Lee 2705 Iliff Street Boulder SATURDAY 12 – 2 Steve Altermatt 15706 Puma Run Broomfield SATURDAY 1 – 3 Kelly Campbell – RE/MAX Elevate 2137 […]

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Address (click on blue links below for photos/description)  

City (click on blue links below for map)

 

Date RE/MAX of BoulderRealtors
3820 26th Street Boulder SATURDAY 11 – 2 Sherrie Lee
2705 Iliff Street Boulder SATURDAY 12 – 2 Steve Altermatt
15706 Puma Run Broomfield SATURDAY 1 – 3 Kelly Campbell – RE/MAX Elevate
2137 Pine Street Boulder SATURDAY 1 – 3 Lynn Ryan
1843 23rd Street Boulder SUNDAY 2:30-4:30 Amie Jablonski

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Open Houses on Saturday, June 15 and Sunday, June 16 https://boulderco.com/open-houses-on-saturday-june-15-and-sunday-june-16/ https://boulderco.com/open-houses-on-saturday-june-15-and-sunday-june-16/#respond Mon, 24 Jun 2019 16:19:29 +0000 https://wordpress-195879-897857.cloudwaysapps.com/?p=1323 Address (click on blue links for below for photos/description)   City (click on blue links for below for map)   Date                                                                       RE/MAX of Boulder […]

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Address (click on blue links for below for photos/description)

 

City (click on blue links for below for map)

 

Date                                                                      

RE/MAX of Boulder Realtors                                             

280 Boulder View Rd

Boulder

Saturday 10 -12

Jon Hatch

1275 Plum Court

Erie

Saturday 11 – 1

Brian Sundberg

3820 26th St

Boulder

Saturday 11 – 2

Sherrie Lee

836 Emery St

Longmont

Saturday 12 – 2

Katie Atkins/Shawn Johnson

2709 S. Muscovey Lane

Johnstown

Saturday 1 – 4

Denise Patryas

1223 Quince Ave

Boulder

Saturday 1 – 3

Digger Braymiller

8818 Portico Lane

Longmont

Sat. & Sun. 1 – 4

Terri Johnson

15706 Puma Run

Broomfield

Saturday 1 – 3

Kelly Campbell – RE/MAX Elevate

3767 Orange Lane

Boulder

Saturday 1 – 3

Patrick Dolan Team

1111 Monroe Dr – D

Boulder

Saturday 1 – 3

Patrick Dolan Team

198 Mesa Court

Louisville

Saturday 2 – 4

E and L Team – RE/MAX Elevate

536 Maxwell Ave

Boulder

Sunday 11 – 1

Daryl Smith

2117 Emerald Dr

Longmont

Sunday 11 – 1

Mike Bader

843 Racquet Lane

Boulder

Sunday 12 – 2

Steve Altermatt

1355 Northview Dr

Erie

Sunday 1 – 3

Terry Larson

4074 Bimini Court

Boulder

Sunday 1 – 3

Clove Berger/Laurie Kaufman

630 Terrace Ave

Boulder

Sunday 1 – 3

John McElveen/Jed MacArthur

4853 Briar Ridge Court

Boulder

Sunday 1 – 3

Patrick Dolan Team

4569 S. Meadow Dr

Boulder

Sunday 1 – 3

Patrick Dolan Team

4453 Pali Way

Boulder

Sunday 1 – 3

Patrick Dolan Team

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Videos: Boulder County Housing Market Statistics – May 2019 https://boulderco.com/videos-boulder-county-housing-market-statistics-may-2019/ https://boulderco.com/videos-boulder-county-housing-market-statistics-may-2019/#respond Mon, 24 Jun 2019 16:19:29 +0000 https://wordpress-195879-897857.cloudwaysapps.com/?p=1322 What’s the latest in the Boulder County real estate market? Here’s a snapshot of our vital statistics with our quick videos below.  

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What’s the latest in the Boulder County real estate market? Here’s a snapshot of our vital statistics with our quick videos below.

 

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Home Improvements With Best ROI https://boulderco.com/home-improvements-with-best-roi/ https://boulderco.com/home-improvements-with-best-roi/#respond Mon, 24 Jun 2019 16:19:29 +0000 https://wordpress-195879-897857.cloudwaysapps.com/?p=1321 Not all home improvements are equal when it comes to recovering the costs of the job. In Colorado and its fellow Mountain Region states, homeowners recoup considerably more of their costs for some projects than others, according to the Remodeling 2019 Cost vs. Value Report (www.costvsvalue.com). Produced by Remodeling Magazine, the report provides an in-depth […]

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Not all home improvements are equal when it comes to recovering the costs of the job. In Colorado and its fellow Mountain Region states, homeowners recoup considerably more of their costs for some projects than others, according to the Remodeling 2019 Cost vs. Value Report (www.costvsvalue.com).

Produced by Remodeling Magazine, the report provides an in-depth look at the return on investment (ROI) of common remodeling projects. This year’s analysis compares average costs for 22 remodeling projects with the value those projects retain at resale in 136 U.S. markets.

Across the Mountain region states of Colorado, Utah, Arizona, New Mexico, Idaho and Montana, the highest return for upscale homes – 98.6 percent – comes from replacing the garage door. For midrange homes, the top return is 96.5 percent for manufactured stone veneer. 

The lowest ROI projects for an upscale and midrange home in the Mountain region, respectively, are a master suite addition – 48 percent – and a universal design bathroom remodel – 55 percent. 

Here are the remodeling projects that topped this year’s report with the Mountain Region’s best ROI. 

1. Garage door replacement

You’ve probably noticed that a stylish, new garage door makes a home pop with curb appeal. That’s probably why this $3,550 investment returns 98.6 percent or an estimated $3,502. The project analyzed is for the removal and replacement of a 16×7-foot garage door and tracks. The new door has a lifetime warranty, is made with high-tensile-strength steel with two coats of factory-applied paint, is foam insulated to minimum R-12, and ruses the existing motorized opener. Windows in top panel are ½-inch insulated glass.

2. Manufactured stone veneer

This trend is a natural for Colorado and delivers $8,422 on an $8,731 investment, or 96.5 percent. The estimated cost is for a 300-square-foot adhered manufactured stone veneer, including 36 linear feet of sills, 40 linear feet of corners, and an outlined entry archway.

3. Minor kitchen remodel

A simple kitchen refresh returns 80 percent of the cost on midrange homes. The project analyzed included installing new shaker-style wood panels and new hardware on cabinet and drawer fronts, replacing the cooktop, oven range and refrigerator, and putting in new laminate countertops and resilient flooring. Project cost is $21,726 and returns $17,349.

4. Siding replacement

New siding adds new life to a home and returns 75 percent of the money spent to do the job. Though it may seem mundane, fresh siding make your entire home feel new. Project cost is $15,317 for 1,250 square feet, and returns an estimated $11,545.

Rounding out home improvements that return above 60 percent are deck addition (wood) 74.3 percent; window replacement (vinyl) 71.3 percent; grand entrance (fiberglass) 71 percent; deck addition (composite), 66.5 percent;  roofing replacement (asphalt shingles), 65.6 percent; entry door replacement (steel) 64.2 percent; bathroom remodel, 61.9 percent; major kitchen remodel (midrange homes), 60.6 percent; and roofing replacement (metal), 60.1 percent.

Complete data from the Remodeling 2019 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

_________________________

About Tom Kalinski:

Tom Kalinski is a pillar of the Boulder Valley real estate community who was inducted into Boulder County’s Business Hall of Fame. Tom has vast inside knowledge of the Boulder County real estate market and an impressive 40-year background in commercial and residential real estate. Tom is the Broker/Owner of RE/MAX of Boulder, the top-producing local residential real estate company he established in 1977, which has grown to over 100 Realtors. RE/MAX of Boulder has been voted Best Real Estate Group by Boulder Weekly, Best Real Estate Company by Colorado Daily, and named #1 RE/MAX office in the U.S. for sales volume 8 times.

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New Real Estate Contracts on July 1, 2019 https://boulderco.com/new-real-estate-contracts-on-july-1-2019/ https://boulderco.com/new-real-estate-contracts-on-july-1-2019/#respond Mon, 24 Jun 2019 16:19:29 +0000 https://wordpress-195879-897857.cloudwaysapps.com/?p=1320 When I first started selling real estate in 1978, the contract to purchase a home a home was only one page long. Now in 2019, the contract to purchase a home has grown to 14 pages, plus multiple pages of disclosures, approaching 30 pages total. I have watched the contract grow, a few clauses at […]

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When I first started selling real estate in 1978, the contract to purchase a home a home was only one page long. Now in 2019, the contract to purchase a home has grown to 14 pages, plus multiple pages of disclosures, approaching 30 pages total. I have watched the contract grow, a few clauses at a time, over the last 40 years. In the past, contracts were updated as often as once a year. Now, they are usually updated every two years, unless there is a Federal or Colorado legislative mandatory update. This year is one of the mandatory legislative update years. 

On March 6, 2019, the Colorado Association of REALTORS® (CAR) announced that Governor Jared Polis signed House Bill-19-1098, known as the “Deeds to Convey Real Property Bill” into law. Several members and representatives of CAR, including CAR Chair Justin Knoll and CAR General Legal Counsel Scott Petersen, were on hand for the signing. There were many industry stakeholders such as title companies, attorneys, and lenders involved in developing this bill. CAR worked with them to develop the bill for the benefit of all.

According to the announcement from CAR, the common-sense solutions in the legislation will:

  • Reduce confusion and lessen disputes arising from the current contract form to transfer real property
  • Ensure a clear public record of the real estate transaction

What the Bill does:

  • Authorizes a title company to prepare a deed using one of the forms of statutory deed established by this legislation
  • Fairly and reasonably balances the risks between the seller, buyer, and title company

The good news is that the legislation only requires a change to Section 13 of the Colorado Standard Contract to Buy and Sell Real Estate. Section 13 is known as the Transfer of Title Section. This is as a result of the passing of House Bill-19-1098 by the Colorado Legislature, which passed unanimously. The new statute says that if title transfers via General Warranty deed, title will be transferred “subject to statutory exceptions,” which are defined in the Colorado Revised Statutes 38-30-113(5)(a). The passage of this bill means the contracts will change and will be mandatory on July 1, 2019.

In the past, the default deed in the section was a General Warranty deed. Now, the default deed is a Special Warranty Deed. There are check boxes for the other types of deeds that might be used. Home buyers and sellers can discuss this further with their attorney, REALTOR®, and title company if there is a reason to use a deed other than the default Special Warranty deed.

In addition, House Bill 19-1098 clears up a longstanding problem concerning the authority to draft deeds conveying real property in a transaction. Previously, a licensed real estate broker could prepare a deed, but the broker could delegate the limited authority to the title company as the broker’s scrivener. This legislation gives the title company the authority to prepare the deeds, without being the broker’s scrivener.

The key point to remember is that in less than a month, on July 1, 2019, the new contracts will be mandatory for licensed agents to use.

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Open Houses on Saturday, June 8 and Sunday, June 9 https://boulderco.com/open-houses-on-saturday-june-8-and-sunday-june-9/ https://boulderco.com/open-houses-on-saturday-june-8-and-sunday-june-9/#respond Mon, 24 Jun 2019 16:19:29 +0000 https://wordpress-195879-897857.cloudwaysapps.com/?p=1319 Address (click on blue links for below for photos/description)   City (click on blue links for below for map)                    Date                                                          […]

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Address (click on blue links for below for photos/description)

 

City (click on blue links for below for map)                 

 

Date                                                                                               

          

RE/MAX of Boulder Realtors                                                                

613 Independence Dr

Longmont

SATURDAY 9:30 – 12

Peter Trost

900 Sunny Way

Lafayette

SATURDAY 11 – 2

Paul Dart

198 Sugarloaf Mtn Rd

Boulder

SATURDAY 11 – 4

Kimberly Fels

1275 Plum Court

Erie

SATURDAY 11 – 1

Brian Sundberg

3267 Ouray St

Boulder

SATURDAY 12 – 2

Patrick Dolan Team

760 High St

Erie

SAT & SUN 1 – 3

Lynn Ryan

900 Pearl St 203

Boulder

SATURDAY 1 – 4

Denise Patryas

15706 Puma Run

Broomfield

SATURDAY 1 – 3

Kelly Campbell –
RE/MAX Elevate

813 Sycamore Ave

Boulder

SATURDAY 1 – 3

Sue Masterson

1503 Twin Sisters Dr

Longmont

SUNDAY 11 – 1

Terri Cox

640 Poplar Ave

Boulder

SUNDAY 11 – 1

Lydia Waskul

4859 Hopkins Place

Boulder

SUNDAY 11:30 – 1:30

Steve Altermatt

2117 Emerald Dr

Longmont

SUNDAY 12 – 2

Mike Bader

2885 Kenyon Circle

Boulder

SUNDAY 12 – 2

Steve Altermatt

2122 Redhead Dr

Johnstown

SUNDAY 12 – 3

Denise Patryas

3122 10th St

Boulder

SUNDAY 1 – 3

Miles Kunkel

2267 Holyoke Dr

Boulder

SUNDAY 1 – 3

Kalinski Team –
RE/MAX Elevate

7086 Indian Peaks Tr

Boulder

SUNDAY 1 – 3

Patrick Dolan Team

4274 Vinca Court

Boulder

SUNDAY 1 – 3

Patrick Dolan Team

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