You know, I think that Bob Dylan mighta' had something to do with that awareness...
It's a cloudy late afternoon down here in Sante Fe and as my ol' friend Shannon Freedle drove me around down here inn this city that's about the same size as Ft. Collins, though demographically quite different, I one more time am appreciative of our Northern Colorado.
It's surprising that the cost of living down here is so much higher than up there, but it is. I found myself at dinner last night with some friends of Shannon's who were talking about the rental market down here and how they felt sooooooo fortunate to be able to find a home some miles out side of Sante Fe and that they were able to get it for $1800 per month! In FTC that home, from what they described would be $1,100, maybe $1,200 in town!
The foreclosure environment down here is maybe just a little worse that up in FTC but it is causing more havoc. The arverage or median price of a home down here is significantly higher than in FTC and the homes all look alike! There's not really all that much you can do with stucco and a box shape. The only noticeable difference would be in the size. Sooooo, anywho the average financial outlay for a foreclosure is higher here because the homes cost more to begin with.
I have another full day of this working vacation and then I'll be back and will implement some of the things I've been working on down here.
It's good to get outa Dodge for a while, but it's even bettwer to get back home!
Wednesday, June 17, 2009
Wednesday, June 10, 2009
More oin the Mason Street Corridor ppoject!!!
I am soooooooooooooo excited about the best kept secret (for whatever reason I don't know) in Fort Collins to get underway!!!!!!
As part of the Mason Corridor project, Mason and Howes Streets will be changed to accommodate 2-way traffic from Laurel to Cherry Streets. Road closures will begin June 8 and crews will fully convert Howes before moving on to Mason.
Converting Howes:
Beginning June 8, City crews will begin work at Cherry Street and continue south to Laurel. One to two blocks of Howes will be closed for approximately one day at a time while crews are working.
Converting Mason:
Once Howes is completed, work will begin on Mason. The Mason work is tentatively scheduled to start in Mid August; a signal at Laurel and Mason must be installed before the conversion work can begin. Crews will begin at Laurel and move north. One to two blocks of Mason will be closed for approximately one day at a time while crews are working. The conversion of Mason will be more complex and longer in duration.
Business and Property Access:
The work on Howes and Mason will not prevent access to existing businesses and properties, but they may not have access from Mason during the brief road closures. Access from Howes or Mason during each closure will be limited. Certain side streets will no longer be directly accessible from northbound Mason since some of the Mason intersections will prohibit north and south bound left turns. There will not be any right turn restrictions to side streets from Mason.
Parking Impacts:
In order to provide room for new left turn lanes on Mason Street, it will be necessary to eliminate a small number of parking spaces at the Mulberry, Olive, and Mountain intersections. Otherwise, on street parking will remain as is.
Why Change Traffic Flow?
The conversion is designed to increase efficiency for the bus rapid transit system as well as improve overall downtown access and mobility for cars and bicyclists. Converting the streets requires re-painting the roads, changing signage, and managing traffic.
Mason Corridor:
Enabled by transit, the Mason Corridor embodies Fort Collins' commitment to infill development, environmental stewardship, and will be a major element of the community's immediate and long-term economic well-being.
The Mason Corridor is a five mile north-south byway with Bus Rapid Transit within the City of Fort Collins which extends from Cherry Street to south of Harmony Road. The corridor is located along the Burlington Northern Santa Fe Railway property, a few hundred feet west of College Avenue (US 287).
The Mason Corridor is a fundamental connection between the City, Colorado State University, and local business and neighborhoods.
Mason Corridor construction is scheduled to begin in 2010 and be completed by the end of 2011. The Bus Rapid Transit service is scheduled to begin by the end of 2011. For more information about the Mason Corridor visit www.fcgov.com/mason.
-------------------------------------------------
fcgov.com - Connecting Fort Collins
http://www.fcgov.com
As part of the Mason Corridor project, Mason and Howes Streets will be changed to accommodate 2-way traffic from Laurel to Cherry Streets. Road closures will begin June 8 and crews will fully convert Howes before moving on to Mason.
Converting Howes:
Beginning June 8, City crews will begin work at Cherry Street and continue south to Laurel. One to two blocks of Howes will be closed for approximately one day at a time while crews are working.
Converting Mason:
Once Howes is completed, work will begin on Mason. The Mason work is tentatively scheduled to start in Mid August; a signal at Laurel and Mason must be installed before the conversion work can begin. Crews will begin at Laurel and move north. One to two blocks of Mason will be closed for approximately one day at a time while crews are working. The conversion of Mason will be more complex and longer in duration.
Business and Property Access:
The work on Howes and Mason will not prevent access to existing businesses and properties, but they may not have access from Mason during the brief road closures. Access from Howes or Mason during each closure will be limited. Certain side streets will no longer be directly accessible from northbound Mason since some of the Mason intersections will prohibit north and south bound left turns. There will not be any right turn restrictions to side streets from Mason.
Parking Impacts:
In order to provide room for new left turn lanes on Mason Street, it will be necessary to eliminate a small number of parking spaces at the Mulberry, Olive, and Mountain intersections. Otherwise, on street parking will remain as is.
Why Change Traffic Flow?
The conversion is designed to increase efficiency for the bus rapid transit system as well as improve overall downtown access and mobility for cars and bicyclists. Converting the streets requires re-painting the roads, changing signage, and managing traffic.
Mason Corridor:
Enabled by transit, the Mason Corridor embodies Fort Collins' commitment to infill development, environmental stewardship, and will be a major element of the community's immediate and long-term economic well-being.
The Mason Corridor is a five mile north-south byway with Bus Rapid Transit within the City of Fort Collins which extends from Cherry Street to south of Harmony Road. The corridor is located along the Burlington Northern Santa Fe Railway property, a few hundred feet west of College Avenue (US 287).
The Mason Corridor is a fundamental connection between the City, Colorado State University, and local business and neighborhoods.
Mason Corridor construction is scheduled to begin in 2010 and be completed by the end of 2011. The Bus Rapid Transit service is scheduled to begin by the end of 2011. For more information about the Mason Corridor visit www.fcgov.com/mason.
-------------------------------------------------
fcgov.com - Connecting Fort Collins
http://www.fcgov.com
Friday, March 13, 2009
Watch out for phony HUD website!!!
One of my preferred Mortgage lenders sent me this just moments ago...
Please see the email below from the Oklahoma City HUD Director’s Office…
HUD staff please let your customers know that there is a deceptive website out there that is posing as HUD. This website tries to dupe people into giving out personal information (known as “phishing”) - and because they’ve made their site appear to be an “official us government website”, some people may fall prey to this scam.
The website is: http://bailout.hud-gov.us/
The IG has been notified, and is investigating.
Ryan Abrahamson Sales Manager Universal Lending Corp.
970-225-2800 office 970-222-9024 cell 866-802-0437 fax rabrahamson@ulc.com
300 E. Horsetooth Rd, Ste 200 ~ Ft. Collins, CO 80525
Friday, March 6, 2009
Thanks, C.J.!
I love learning new things, new ideas or new concepts...I just do!!!!
I was out looking at a house with a client, we'll call her C.J., because that's her name(!) and we were talking about real estate stuff in general and I made the comment that there were a lot of +'S and -'s to buying a house and one of the +'s is that the mortgage interest deduction is still, even if Obama's thing about reducing the deduction for those who make over 250k is reduced (which is really not "true" because by the time a lot of folks who make way over 250k take advantage of legal tax deductions their taxable income is less than 250k...), is still the largest tax deduction most of us get!
That's the good news.
The bad news is that the new home owner doesn't "feel" that benefit until they file their taxes the following year.
We had gotten on to this subject because we were talking about "payment comfort level" and how buying can frequently be cheaper than renting one the tax consequences take ahold...
The concept here being that one can make a payment higher equal to or higher that one's rental payment and still it is "cheaper" because one's tax liability is significantly reduced.
"Significantly?", you ask.
"Yes.", replies your accountant as he then goes into accounting nuances that are unique and specific to each individual so I don't/won't go there.
So, anywho, she said, "Well, that's why I'll sock away $3,000 until that 'more money in my pocket' shows up next year and out of the $8,000 I'll still have enough money to pay off an irritating credit card bill and have the tuition for schooling for Medical Transcribing."
I took a 'lil poetic license there, but that's what she meant...I believe.
That sounds to me like what this Home Buying Stimulus Incentive is all about, huh!
Thanks, C.J.!
I was out looking at a house with a client, we'll call her C.J., because that's her name(!) and we were talking about real estate stuff in general and I made the comment that there were a lot of +'S and -'s to buying a house and one of the +'s is that the mortgage interest deduction is still, even if Obama's thing about reducing the deduction for those who make over 250k is reduced (which is really not "true" because by the time a lot of folks who make way over 250k take advantage of legal tax deductions their taxable income is less than 250k...), is still the largest tax deduction most of us get!
That's the good news.
The bad news is that the new home owner doesn't "feel" that benefit until they file their taxes the following year.
We had gotten on to this subject because we were talking about "payment comfort level" and how buying can frequently be cheaper than renting one the tax consequences take ahold...
The concept here being that one can make a payment higher equal to or higher that one's rental payment and still it is "cheaper" because one's tax liability is significantly reduced.
"Significantly?", you ask.
"Yes.", replies your accountant as he then goes into accounting nuances that are unique and specific to each individual so I don't/won't go there.
So, anywho, she said, "Well, that's why I'll sock away $3,000 until that 'more money in my pocket' shows up next year and out of the $8,000 I'll still have enough money to pay off an irritating credit card bill and have the tuition for schooling for Medical Transcribing."
I took a 'lil poetic license there, but that's what she meant...I believe.
That sounds to me like what this Home Buying Stimulus Incentive is all about, huh!
Thanks, C.J.!
Monday, March 2, 2009
8k Home Buying Stimulus Confusion
Penny Kast, my S.H.O.P. lender partner from First National Bank had a S.H.O.P. (Sensible Housing Opportunity Program) Workshop on Saturday and attendance was limited, but that's just part of the age old marketing dilemma of how do you get folks to attend????
The demise of the Rocky Mountain News speaks volumes for the ineffectiveness of print advertising.
$8,000.00 is a goodly amount of cash and there are a some myths that need to go away!
Myth #1...You do not have to be a First Time Home Buyer, per se.
A First Time Home Buyer is anyone who has not owned a home in the last 3 years!!!!!!! You could have owned 12 homes in the past but not owned one for the last three years and you're considered a 1st Time Buyer!
Myth #2...The money does not have to be applied to the purchase of the home!!!!
I'm working with a lady right now who wants to muse it for tuition!!!!
Myth #3...That it's a Tax Credit and not cash.
It is...but it's not. It's funded along with you're IRS Refund. If you have a refund coming of $400.00, your refund check will be for $8,400. If you owe $400.00 you will get a check for $7,600.
In any event, you need to check with your accountant.
Lemme know if you have any thoughts or questions...
Gotta run....
The demise of the Rocky Mountain News speaks volumes for the ineffectiveness of print advertising.
$8,000.00 is a goodly amount of cash and there are a some myths that need to go away!
Myth #1...You do not have to be a First Time Home Buyer, per se.
A First Time Home Buyer is anyone who has not owned a home in the last 3 years!!!!!!! You could have owned 12 homes in the past but not owned one for the last three years and you're considered a 1st Time Buyer!
Myth #2...The money does not have to be applied to the purchase of the home!!!!
I'm working with a lady right now who wants to muse it for tuition!!!!
Myth #3...That it's a Tax Credit and not cash.
It is...but it's not. It's funded along with you're IRS Refund. If you have a refund coming of $400.00, your refund check will be for $8,400. If you owe $400.00 you will get a check for $7,600.
In any event, you need to check with your accountant.
Lemme know if you have any thoughts or questions...
Gotta run....
Tuesday, January 27, 2009
It's not ALL doom and gloom...
Real Estate Outlook: Obama Effect
by Kenneth R. Harney
Will there be an "Obama effect" on the housing and real estate markets? Barely days after his inauguration, it's obviously premature to make any forecasts.
But there's a case to be made that a quickly-enacted economic stimulus package, continued rock-bottom mortgage interest rates, low inflation and improving consumer sentiment could begin to have that effect -- at least in small measure.
For example, the bellwether poll of consumer confidence -- conducted by the University of Michigan -- has just come out and it found consumer sentiment up by two percent in January over December. The component of the index that's based on "expectations" -- do you expect the economy will start improving? -- was up by three percent.
Now you can argue that January's bounce had nothing to do with the arrival of a new president and economic team in Washington, and was barely a notch over December's number. But the fact is: the arrow pointed up not down. Given the country's high expectations about the new administration, documented in every major poll on the subject, higher consumer confidence shouldn't be all that surprising.
Also, the massive economic relief package coming from Capitol Hill within weeks is virtually guaranteed to create jobs, and put more money into millions of households' pockets through tax breaks. You can argue that the stimulus package cannot possibly work its magic quickly enough to alter the course of the recession.
That's debatable and the full story won't be known for a year or more. But for housing, there's no question that a tax credit with teeth, nonrepayable and with a use-it-or-lose-it deadline, can only spur additional sales, maybe several hundred thousand over the course of the coming 12 months, according to some housing group estimates.
Meanwhile mortgage rates remain under five percent -- at least for applicants with solid credit and a downpayment. Inflation is close to zero: the CPI urban index dropped by seven tenths of a percent in December, and the energy index was down by eight point three percent.
Finally, the latest data from southern California --the epicenter of boom and bust -- confirms that market by market, there are signs of rising home sales as affordability improves. According to MDA DataQuick, southern California sales last month were up by fifty point five percent over a year earlier. The flip side of that improvement: prices were down thirty-four point six percent.
Doomsayers may not be impressed by sales turnarounds, but anyone who sells -- or buys real estate and is looking for a great price -- can't afford to ignore positive signs.
Published: January 27, 2009
by Kenneth R. Harney
Will there be an "Obama effect" on the housing and real estate markets? Barely days after his inauguration, it's obviously premature to make any forecasts.
But there's a case to be made that a quickly-enacted economic stimulus package, continued rock-bottom mortgage interest rates, low inflation and improving consumer sentiment could begin to have that effect -- at least in small measure.
For example, the bellwether poll of consumer confidence -- conducted by the University of Michigan -- has just come out and it found consumer sentiment up by two percent in January over December. The component of the index that's based on "expectations" -- do you expect the economy will start improving? -- was up by three percent.
Now you can argue that January's bounce had nothing to do with the arrival of a new president and economic team in Washington, and was barely a notch over December's number. But the fact is: the arrow pointed up not down. Given the country's high expectations about the new administration, documented in every major poll on the subject, higher consumer confidence shouldn't be all that surprising.
Also, the massive economic relief package coming from Capitol Hill within weeks is virtually guaranteed to create jobs, and put more money into millions of households' pockets through tax breaks. You can argue that the stimulus package cannot possibly work its magic quickly enough to alter the course of the recession.
That's debatable and the full story won't be known for a year or more. But for housing, there's no question that a tax credit with teeth, nonrepayable and with a use-it-or-lose-it deadline, can only spur additional sales, maybe several hundred thousand over the course of the coming 12 months, according to some housing group estimates.
Meanwhile mortgage rates remain under five percent -- at least for applicants with solid credit and a downpayment. Inflation is close to zero: the CPI urban index dropped by seven tenths of a percent in December, and the energy index was down by eight point three percent.
Finally, the latest data from southern California --the epicenter of boom and bust -- confirms that market by market, there are signs of rising home sales as affordability improves. According to MDA DataQuick, southern California sales last month were up by fifty point five percent over a year earlier. The flip side of that improvement: prices were down thirty-four point six percent.
Doomsayers may not be impressed by sales turnarounds, but anyone who sells -- or buys real estate and is looking for a great price -- can't afford to ignore positive signs.
Published: January 27, 2009
Wednesday, December 31, 2008
New Years Eve Day...
Hi there,
I don't want to do any sort of syrupy "Happy New Year" schtick...
This past year has been, arguably (and how I live to argue with myself) the most difficult, to say it mildly, I've had to endure in my lifetime.
I don't need to rehash...Wall Street free fall, foreclosures, mortgage debacles and the list goes on.
In some fashion we were all personally affected.
I certainly was/am.
However, as those of you who know me, as there are physical laws which are the most readily demonstratable (spell check doesn't like that) like gravity there are corresponding laws in other realms (and one of my favorites are spiritual laws) and they all are similar consequentializealy (I knew spell check wouldn't like that word).
A physical law is that for every action there is an equal and opposite reaction and that holds true in those other realms as well.
The moral of all this, and I believe it in part to be a moral issue, is that we will naturally and logically "rebound" from the mess we have been in.
Now I'm gonna get a lil' new-agey here, but I believe that those who go into next year with a positive attitude are going to be on the forefront of the pendulum swing.
Pushing 35 years of being n Real Estate have proven this to be true.
Another "modern" truism is, "Don't believe everything you hear or see in the media!"
We in northern Colorado are blessed to be somewhat insulated from a lot of the horribleness that we are led to believe we are in...not immune, mind you, but insulated from in that although the economic problems are real we are not suffering double digit inescapable deprecations in the value of many of our homes and real estate investments.
I look forward to 2009 being a good year for Real Estate in northern Colorado.
That's not just my opinion.
It's the natural and logical consequences of "things".
I don't want to do any sort of syrupy "Happy New Year" schtick...
This past year has been, arguably (and how I live to argue with myself) the most difficult, to say it mildly, I've had to endure in my lifetime.
I don't need to rehash...Wall Street free fall, foreclosures, mortgage debacles and the list goes on.
In some fashion we were all personally affected.
I certainly was/am.
However, as those of you who know me, as there are physical laws which are the most readily demonstratable (spell check doesn't like that) like gravity there are corresponding laws in other realms (and one of my favorites are spiritual laws) and they all are similar consequentializealy (I knew spell check wouldn't like that word).
A physical law is that for every action there is an equal and opposite reaction and that holds true in those other realms as well.
The moral of all this, and I believe it in part to be a moral issue, is that we will naturally and logically "rebound" from the mess we have been in.
Now I'm gonna get a lil' new-agey here, but I believe that those who go into next year with a positive attitude are going to be on the forefront of the pendulum swing.
Pushing 35 years of being n Real Estate have proven this to be true.
Another "modern" truism is, "Don't believe everything you hear or see in the media!"
We in northern Colorado are blessed to be somewhat insulated from a lot of the horribleness that we are led to believe we are in...not immune, mind you, but insulated from in that although the economic problems are real we are not suffering double digit inescapable deprecations in the value of many of our homes and real estate investments.
I look forward to 2009 being a good year for Real Estate in northern Colorado.
That's not just my opinion.
It's the natural and logical consequences of "things".
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