Energy Savings and Home Ownership

With the exception of a mortgage payment, the largest homeowner expense is utilities; and energy is the major component. There are lots of contributing factors such as air leaks, insulation, heating and cooling equipment, water heaters and lighting.




It's estimated that 75% of the electricity to power home electronics is consumed when the products are turned off. Computers, monitors, TVs, cable and satellite boxes, DVRs and power adaptors are spinning your electric meter even when they're not being used.



Unplugging devices can actually make a difference in the size of your electric bill. Plugging several of these offenders into a power strip with a single on/off switch may make the task easier. Most computers have options to put them into sleep mode or even turn off when not in use.



Take 3 1/2 minutes and watch Energy 101. Consider hiring a professional home energy auditor or do-it-yourself. The Department of Energy has a checklist with some valuable suggestions.

Converting a Home to a Rental

What's keeping you from taking advantage of the low prices and mortgage rates available today? Concerned that you may need to sell in a few years and won't be able to get your equity out of your home?

Suppose a buyer purchases a home and finds out that they need to move in two years. Instead of selling the home, they could convert it to a rental. It's possible that it could have a positive cash flow even with the small down payment. In most cases, the conversion would not accelerate the mortgage.

The price of homes and low interest rates combined with a very strong rental market in most areas has attracted a lot of investors. Non-owner occupied mortgages generally require 20-30% down payment compared to a 3.5% down payment for a FHA owner occupant.

The following example looks at a home that might have been purchased as a principal residence and then converted to a rental at the end of two years. There are certainly lots of variables to consider but the high indicated rate of return merits closer examination of the possibilities.

For the buyer who has good credit and ample funds for down payment and acquisition costs, there may never be as good a time to buy a home as now. For the buyer who is concerned that they might have to move in the near future, converting it to a rental might make a great investment opportunity.

 

Denver fastest moving real estate in country

Realtor.com: California metros dominate among most active markets. California metros dominated a list of 11 fast-moving real estate markets in July, reported property search site Realtor.com.Realtor.com released a list of metros with the lowest median age of inventory at the site -- a measurement of how long a property from a given metro area typically spends on the site. Denver, which topped the list in June, once again had the lowest median age of inventory among metros at a median 32 days. That's a 38.5 percent drop in the median year-over-year -- the biggest drop among the 11 most active markets. Six California metros made the list, with Oakland the fastest-moving among the six. Oakland's median age of inventory was 46 days. The six metros include a mix of markets hit hard by foreclosures -- Fresno, Bakersfield, Stockton-Lodi -- and relatively high-cost metros in the San Francisco Bay Area -- Oakland, San Jose and San Francisco. Metros with lowest median age of inventory (July 2011)

Boulder Co real estate stats

Nationally, home resales were down 3.5%, year over year, thru the end of July. In Boulder, CO, they were up 18% and average sales price was up almost 12% during the same time period. Numbers like that are why Boulder, Co ranks high in the top real estate markets in the country.

Louisville, Co Ranch Homes Now for Sale In Steel Ranch

These are more than just ranch homes with a full basement: they have everything you need for  main floor living and yes that includes the laundry room. Choose the 2 or 3 bedroom model and you'll get a large master suite with walk in closet and 5 piece bath. Use the other bedroom as a study or guest room or choose the 3 bed and have both. One couple who just purchased the 3 bed model will have his and hers studies.The unfinished basement has plenty of room for 2 more bedrooms, bath and large rec room or theater. The finishes are top notch so check it out soon while you can still choose!

New Homes Coming Soon to Louisville, CO

New Homes are coming soon to Louisville, Colorado. In a city that has pretty much run out of land, these new homes are guaranteed to be snapped up quickly. I stopped by the office yesterday and got all the details. There are 2 builders, Ryland, building a traditional home and neighborhood and Boulder Creek Builders specializing in low maintenance, ranch style homes. These guys have figured out what folks are looking for who want to simplify their lifestyle. These homes are perfect for a couple looking for lock-and-leave convenience. They homes are maintained by the HOA right up to the foundation so traveling or spending time in another location is no longer a problem. Or maybe you’d rather spend your weekends doing something other than yard and house work! Stay tuned for more details as the first models will be done in a month and there are already lots under contract. If you’d like to know more, shoot me an email, jbaulsir@wkre.com.

Vacancy rates just published for Boulder, CO at 4.9% are the lowest in the metro area and explain ever increasing rents, now averaging $961 a month.
If you're having a hard time finding a property to rent in and around Boulder,I know it's not much comfort but you've got a lot of company! Try to get situated before the students come to town in June-July making it even more difficult. And if all else fails, think about buying something. Given the current interest rates, it could be the best deal and your best bet!