BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

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For some, timing can be one of the biggest obstacles in making responsible financial decisions. No market holds this rule more firmly than real estate. Often, the ideal time for purchasing a new home and striking out on our own, whether alone or with a family in tow, can happen at a time in which one’s finances are in a less-than-ideal order. This causes many upstart families to settle for housing in low-rent apartments or in sketchier neighborhoods which quickly fall below their standards of living once they achieve financial footing. Being stuck with a lease in such a living environment can be a dismal situation.

 

Financing a home on a tight budget can be an enormous challenge, but a savvy buyer can find ways to make ends meet even if they aren’t exactly equipped to handle the financial burden from the start. Here are just a few options to consider when financing real estate when your cash flow isn’t yet ready for it.

Qualifying low interest loans

Depending on your individual circumstances, you might find that you are eligible for financing options that most buyers aren’t able to access. Holding a veteran status, or being a dependent of a veteran, can leave extremely low interest options available to you. With virtually no ceiling on how much you can borrow to finance your home, this can be the very best option for veterans.

However, even non-veterans can enjoy exceptional, special low-interest loans depending on where they search. Many homeowners in densely populated Native American centers have enjoyed the benefits of HUD 184. This program was designed by the government in 1992 to provide Native Americans opportunities since mortgage lending has been scarce in tribal regions. In addition to being one of the best financial options in these areas, it also helps keep tribal property within tribes in the event of a foreclosure.

It’s always worth doing your research to see if you’re in a position to qualify for special financing options before seeking out general options. Since most of these special options involve government support, loaners are often more available to provide more generous terms. However, if you don’t qualify for these programs, there are loan options available to just about anyone that might be preferable depending on your circumstances.

Traditional loan options

Fixed-rate mortgages are a generic solution that can be relied on, but it can be difficult to qualify if you have a middling to poor credit rating. This can be even more difficult if you’re attempting to acquire a jumbo loan, or a loan which surpasses predetermined loan limits. These loans can make the momentous interest on barely qualifying loans even worse.

When qualifying for these loans becomes difficult, loans provided by the Federal Housing Administration can be a vastly better route. An FHA loan also includes a far smaller down payment – as low as just three percent – which makes it better for families in dire financial straits in need of a home. While this can result in longer term payments and comes with a much shorter loan ceiling, it’s an effective option for lower to middle income households who are seeking standard urban or suburban housing.

These options are just a few that households can consider in tough economic times without having to compromise on their vision for what their standard of living should be. Signing a lease is a huge financial responsibility, so assaying your options and settling for satisfactory housing should be one of your very highest financial priorities.

Boulder Real Estate

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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The 6 Types of People That You’ll See on Pearl Street Mall in Boulder

 

The 6 Types of People That You’ll See on Pearl Street Mall in Boulder

boulder pearl street mallThere are very few places in Boulder as iconic as the Pearl Street Mall. Officially dedicated on August 6, 1977, the Mall is home to some of the most colorful characters in Boulder.

It’s a great place to just grab a coffee and a bench people watch for a while. I’m fairly certain you’ll see at least one of these types of folks walk by.

Overly Caffeinated Guy

Speaking of coffee, with a raft of coffee shops both on and surrounding the Pearl Street Mall and given the fact that about 50% of all business meetingstake place in coffee shops, there’s at least a handful of guys or gals walking around Pearl Street with caffeine sweats, looking like their heart might beat out of their chest and their eyes might never close for sleep again.

Not Very Good at Percussion Instruments Guy

Fact: At any given time, there are about three drum circles happening around the Mall.

Fact: Only one of them is any good. For some reason, the guy rocking the bongos doesn’t seem to have any natural rhythm. Or if he does, it’s marching to a completely different beat than every other person in the drum circle, or the Mall for that matter.

Multi-Tasking Entrepreneur

With so many startup companies and coworking spaces located inDowntown Boulder, it’s safe to assume that 84% of the people you see walking around on Pearl Street are involved in some way with either a freelancing business (design, writing, programming or marketing) or a “lean” startup. You can usually pick them out of the crowd because they’re on their phone switching between calls, texting and emailing while walking with another entrepreneur discussing business (they tend to flock together).

Worried Parents of a College Student

They’ve seen the beautiful campus and toured CU facilities. They were informed of the prevalence and near legality of marijuana. Now their children are taking them for a tour of downtown. You can see the fear in their eyes grow with each bar they pass. Their eyes widen as they realize the actual cost of having a child attend CU Boulder: Gourmet eateries, boutique thread and upscale coffee houses. Sometimes you can almost tell that they’re trying to calculate the cost of a second mortgage on their house.

Incredibly Talented Street Performer

Boulder’s Pearl Street Mall has been host to many extremely talented buskers over the years (and some untalented ones. See also: Not Very Good at Percussion Instruments Guy), and some have gained local celebrity with their performances. “Zip Code Guy” performed downtown for years and never stopped amazing people. There was a Jamaican contortionist who could fit into tiny little boxes. Not to mention the wealth of musicians who seem just way too good not to already have found world fame and fortune.

Business Casual Dreadlocks

The epitome of everything that is Boulder: Organic, cruelty-free vegan party up top and high-octane business leader on the bottom. This person has a purposeful, perfectly manicured mane of dreaded locks, but dresses to the nines in designer styles that have been tailored to fit their body to a T. On occasion, the outfit will have just a little bit of climbing chalk stuck to the outside of the pants pockets.  It is the most confounding duality you might ever encounter and it’s something hard to find outside of Boulder.

This is really what Boulder is all about. It takes the rustic beauty of the Rocky Mountain majesty that lies on its doorstep and pairs it with a bustling, young city full of brainiacs and full force entrepreneurs and the outcome is like no other city in the US, which is why we are all happy to call Boulder home.

 

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

THE DO’S AND DON’T OF KITCHEN INTERIOR DESIGN

THE DO’S AND DON’T OF KITCHEN INTERIOR DESIGN

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 If you’re looking to remodel your kitchen then you might be interested to read some do’s and don’ts of kitchen interior design so that you don’t waste time and money in creating a kitchen that could have been an awful lot better.

 

  •   Do have at least one element that is fun or creative :

It’s all too easy to play everything safe and end up with a kitchen that looks fine but lacks any personality or spirit. The key here is not to be boring but to be a bit creative and add something that is a little quirky and interesting or that is you to a tee. For example if you’re renovating a kitchen in what was originally an old barn then why not do something like keeping the architecture of the horse stalls and adding a pot rack in the shape of a wagon wheel?

 

 

  •   Do use cabinetry to conceal some appliances :

Many a good kitchen interior design will feature splashes of stainless steel here and there, but too much and it starts to overpower the kitchen. Instead use built in cabinets that conceal those large expanses of stainless steel such as in the refrigerator. Your kitchen will look seamless and elegant.

 

 

  •  Do have countertop space around a wall oven :

It’s all well and good having a wall oven but if you don’t have countertop space adjacent to it or opposite where are you going to put the joint of beef when it comes out of the oven?

 

  •  Do purchase strong good looking cabinets :

When you think about the amount of times you open and close your kitchen cabinets doors and drawers it makes sense to invest in cabinets that have a high specification including soft close doors, concealed hinges and dovetail joints. A good finish and strong hinges are essential.

 

  •   Do make your small kitchen work  :

Don’t be put off by a small kitchen thinking that big is best. A well designed kitchen which utilizes the space and adds some thoughtful detail can be perfect for you. In a compact kitchen make the most of floor to ceiling cabinets and a handy island on castors which can be wheeled around to wherever you need it. With everything within reach you won’t have to walk so far during the course of the day.

 

  •   Do know when to stop :

Knowing when to stop can be a real challenge but by throwing everything at a kitchen it can end up looking messy, cluttered and overdone. Use a bit of restraint and invest in soft pale shades to match a mellow wood floor with possibly some vintage marble counters.

  •   Do take your cabinets right up to the ceiling :

Don’t stop short your kitchen cabinets a couple of feet short of the ceiling as this just attracts dust and leaves a wasted area of space which often gets unnecessary items placed there out of the way. Full height Tall cabinets give plenty of storage and if you use glass paned doors these will reflect the light and make your kitchen look bright and airy.

 

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

Boulder Neighborhood Guide: Hillcrest

 

Boulder Neighborhood Guide: Hillcrest

boulder neighborhood hillcrest

Sandwiched in between Whittier and Old North Boulder neighborhoods, Boulder’s exclusive Hillcrest neighborhood is perched high on a hill above Boulder’s floodplain. This translates to the centrally-located neighborhood being very small and exclusive. There are wide winding roads, homes featuring modern design, and expansive views that sweep from the foothills to the Flatirons. Anyone lucky enough to call this area of Boulder home can (literally) look down on the rest of Boulder.

History: This neighborhood was started in the beginning of the 1950’s, when Boulder’s population was booming and homes were expanding towards the north. Land on a hill can be difficult to divide but that did not stop the early developers from doing it. They measured out generous lots and the subdivision of Hillcrest/Panorama Heights was born.

Housing: In Boulder’s Hillcrest, renovation is the name of the game. It’s about buying the midcentury ranch houses and then tearing them down or remodeling them. Many of the lots are larger than the average Boulder home which means that many of the house prices are higher than average Boulder home. You definitely pay for the seclusion and gorgeous panoramas. Houses in Hillcrest start in the $500,000 range and it’s easy to spend a million or more for the opportunity to live in this neighborhood.

newlands ideal market shopping center

Restaurants and Shopping: Hillcrest is a small and mostly residential neighborhood. Fortunately, the midtown location means that Pearl Street anddowntown Boulder are just a short bike ride down the hill. This neighborhood is also only a few blocks away from Ideal Market and the various shops there (Breadworks, Marie’s Restaurant,Boulder Wine Merchant and Pharmaca, among others) provide many different options for shopping or dining. Additionally, RTD bus routes service the neighborhood frequently via Folsom street and connect you with wherever you want to go in town.

Family and Fitness: The neighborhood elementary and middle school are inwalking distance and there are obvious signs of family life all over Hillcrest. While there aren’t any parks proper in this neighborhood, Casey Middle School is right down the hill with soccer fields aplenty for outdoor recreation. There are also two different parks, Columbine and Salberg, that are within a four-block walking radius of the neighborhood.

Schools: Columbine Elementary, Casey Middle, Boulder High

Quirks: This Boulder neighborhood was featured in the New York Times as an example of what $1.3 million can buy you in the Boulder real estate market. If that’s not affirmation enough for Hillcrest, I don’t know what is.

Find homes in this area for sale here: North Boulder Homes For Sale

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

Liniger reflects on RE/MAX

Liniger reflects on RE/MAX

REMAX_40year_2Col_logoThe 10 million shares of RE/MAX stock went public at $22, the equivalent of $220 million. That is higher than the $19-$21 share price originally anticipated.

Dave Liniger, who co-founded the giant real estate franchise company in Denver in 1973 with his wife, Gail, wasn’t surprised by the company’s meteoric rise.

Liniger said interest in the stock was high.

“I think with the amount we were over-subscribed and from the road show last night, it was pretty obvious there was a tremendous appetite for the company,” Liniger said in a phone interview from New York City.

Denver may have another billion-dollar HQ

He also said that he checked the market cap of RE/MAX on Bloomberg this morning and it was more than $1 billion.

“I have no idea how they arrived at that,” Liniger said. “I was kind of curious because I knew people were going to ask me. But I don’t really care.”

The company, with more than 90,000 agents and with $78.3 million in revenues in the first half of the year, is easy to understand and is widely known, he said.

“We are the No. 1 real estate brand in the country and really our brand name is known world-wide,” Liniger said. “Our logo (with the trademark red white and blue hot-air balloon) is one of the most recognizable worldwide. People are familiar with us. We are an easy business to understand. We’re not some high-tech company or new medical devicecompany that is so complex you don’t really understand what they do. We have an easy to understand story. We’re really a franchise company that happens to be in real estate.”

RE/MAX changed the residential real estate world by popularizing the so called 100 percent commission concept, where agents paid a “desk fee” and kept all or most of their commissions.

“It is been a very happy, exciting day,” which included watching the trading of the stock on Wall Street for about a half hour this morning, Liniger said.

Can’t manage from the grave

The reason for going public was simple, he said.

“It has an aging founder,” said the 68-year-old Liniger. “You cannot manage this thing from the grave.”

In 2010, during the Great Recession, Liniger brought on some partners.

“They made it very clear they wanted to out of their investment in four to six years,” Liniger said.

“So that meant we had to either highly leverage the company, which I was not in favor of; we had to sell the company outright, which I certainly was not in favor of; or we could have an IPO (initial public offering.)

By going public, he said that he and Gail could continue to control and guide the company.

“I haven’t calculated how much of the company Gail and I own, but I think it is over 60 percent,” Liniger said.

He said they considered going public 10 years ago.

“To be honest, at the time we thought we were a little too small and we couldn’t sell enough of the company to have much of a trading following, so we put it off.”

Liniger had a brush with death in early 2012, and wrote a book about it,My Next Step; An Extraordinary Journey of Healing and Hope.

InsideRealEstateNews.com

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

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10 Tips for Ordering Wine So You Won’t Look Clueless

10 Tips for Ordering Wine So You Won’t Look Clueless

How To Order Wine

Let’s be honest: who wants to be seen at the checkout holding a copy of “Winefor Dummies”?

And yet, your wine knowledge is lacking. It’s not that you don’t like drinking it — it’s more that you’re accustomed to thinking of wine in terms of white, red, pink, and bubbly.

So, to save you the checkout line — and dining experience — embarrassment, we’ve out together a guide to get you great with grapes (and fast). Your date (or spouse) will look at you with a certain sense of swoon and you’ll be able to get a glass of something fantastic, no matter where your culinary adventures might take you.

 

Wine Tip #1: Always taste it first.

When you order a bottle, the waiter should always bring it to your table unopened and then pour a small amount in a glass for you to taste. Always taste it first and let the waiter know you approve.

Wine Tip #2: When to request a decanter.

Many young wines could benefit from a few minutes at least. Decanting older winers allows any sediment to settle to the bottom prior to pouring. For best results, ask the waiter if he recommends the wine be decanted. Most people only think of red wines as benefitting from decanting, but many whites can benefit as well.

Wine Tip #3: By the glass or by the bottle?

Most restaurants limit the wines they offer by the glass. The selection by the bottle will always be more abundant. Price-wise, you’ll see a significant difference. If two people plan on consuming two glasses of wine each or you’re dining with a party of four all expecting to drink at least one glass, the bottle will be the better deal price-wise.

Wine Tip #3: Say it right.

Bordeaux (bore-doe)

Chenin Blanc (shay-nin blan)

Cuvée (coo-vay)

Gewürztraminer (guh-vurtz-trah-mee-ner)

Meritage (mar-i-tij) NOT (mer-i-taaaaaaaj)

Riesling (rees-ling)

Sommelier (so-mel-yay)

Need more tips? Check out wineloverspage for an audible lexicon of over 400 wine-related terms!

Wine Tip #4: Check the vintage.

When you order wine, be sure to check that the vintage (year) they bring to the table is what you ordered. In all but rare exceptions, a younger wine (newer) should be less expensive. If they’ve brought you an older vintage and explain they are out of what you ordered, it’s a polite gesture to extend you the same price on the better bottle.

Wine Tip #5: Ask the waiter.

Som restaurants, especially finer ones, can have overbearing wine lists for wine novices. If you find yourself faced with pages of reds and whites, ask your server what he or she recommends. They will ask you about your taste preferences and make a recommendation. Many restaurants will also bring you a taste if they have something open so you can try before you buy. You can always ask for a taste, but there might not be an open bottle for the waitstaff or bar staff to sample from.

Wine Tip #6: Pairing wines with food.

While there are no longer any hard and fast rules, there are still some taste conventions that wine novices can go by. For seafood, chicken, salads, and lighter foods, whites are a common choice. For heavier steaks and cream-based and red sauce dishes, full-bodied reds pair well. For lighter meat dishes, try a fruity red. For dessert, you can try a Reisling, Gewürztraminer, grappa, ice wine, or port. Champagne is best left to its own devices or paired with fruit.

Wine Tip #7: Glass half full?

Actually, better restaurants will pour your wine glass only to fill the bottom third of the glass. This allows air to come in and enhance the wine’s flavor. Don’t expect this at Applebee’s, though. It’s also a great conversation piece when pouring wine for a date at your house or while at the table of a restaurant during dinner.

Wine Tip #8: The best question you can ask.

If you’re in a swanky joint with its own sommelier, ask the waiter for a moment of his or her time. When the sommelier arrives, ask him/her what they’re excited about on the wine list. Talk about the ultimate geek-out! The sommelier is responsible for building and maintaining the wine list, so you’ll likely spark a fun conversation with someone passionate about wine making a great recommendation to enhance your meal.

Wine Tip #9: When ordering for a business dinner…

Don’t get caught high and dry. Even wine enthusiasts can get caught short on this one. Always call the restaurant in advance and request the wine you’d like served with dinner. This way, you’re not stuck if it happens to not be in stock on the date of your event. Arrive early the date of your event and have a casual chat with the waitstaff to ensure your selections are available. Most restaurants now publish their wine lists online so you can review in advance.

Wine Tip #10: Budgets are cool.

The truth is this: there are delicious wines in every price range (and even every type of packaging). There is no shame in having a budget on wine when you’re out to eat. Great bottles can be had for $10 and $1000. What they all share in common? They’ll all be gone in about four glasses! While more expensive wines can taste better to some people, never be afraid to express a price range preference to the bartender, sommelier, or waiter. If your date gets judgy, well…that’s another issue.

Try Boulder Creek Winery!

 

John Marcotte

720-771-9401

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Financial & Transportation Assistance in Boulder County

 

Financial & Transportation Assistance in Boulder County

Boulder County works to support healthy communities that strengthen individuals and families while promoting human dignity and hope for the future.

Featured Programs

Colorado Works/Temporary Aid to Needy Families

Colorado Works/Temporary Assistance to Needy Families (TANF) is a federal program that provides cash assistance to needy families with dependent children. Find out more about income limits and how to apply.

Food Assistance

Food Assistance (FA) or Supplemental Nutrition Assistance Program (SNAP), assists individuals or families with a portion of their monthly food costs. Find out about eligibility, income limits, and how to apply.

Mobility For All

Boulder County’s Mobility for All program provides transit support and other types of transportation assistance to help low income individuals get to their jobs, job training, job interviews or schools.

 

 

John Marcotte

720-771-9401

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Disease Prevention

 

Disease Prevention

Boulder County Public Health works to prevent the spread of contagious diseases and to contain outbreaks.

Featured Programs

doctor giving a baby a well checkup

Immunizations (Vaccinations)

Parents can protect their children and themselves against 14 vaccine-preventable diseases by scheduling regular visits with their healthcare provider. Public Health provides regular clinics and information about vaccine safety and vaccine schedules.

skunk with his tail in the air

Animal-Borne Disease

The Boulder County Public Health (BCPH) Vector Control Program aims to prevent the spread ofdisease from vectors (animals) to humans including information about rabies, West Nile virus, Plague, and Hantavirus.

hand holding out a condom

HIV/STI Prevention

Rapid HIV testing and counseling, Hepatitis C testing and counseling, and syringe exchange and harm reduction services.

 

Courtesy of BoulderCounty.gov

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

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Boulder County Museums

 

Boulder County Museums

Many parks, trails, museums and open space areas are closed. Please check individual property pages for more information.
Agricultural Heritage Center

Agricultural Heritage Center

Get a glimpse into the history of agriculture in Boulder County and enjoy the rural surroundings. This site focuses on the years 1900 to 1925 when local families prospered as farmers and witnessed the coming of the Modern Age.

Dougherty Museum

Dougherty Museum

The Dougherty Museum houses a collection of beautifully restored antique automobiles, including models powered by steam, electricity and early internal combustion types. Many of the cars date back 100 years and are in running order.

Assay Office Museum

Assay Office Museum

The Assay Office Museum contains many tools and implements used in the assaying process, as well as furniture and artwork owned by the Bailey family. The assay office was the place prospectors would take their ore samples to find out whether or not they had “struck it rich.”

Nederland Mining Museum

Nederland Mining Museum

Visit the Nederland Mining Museum and get a glimpse into the world of hard rock mining days in Boulder County during the late 19th and early 20th centuries. Learn about the lives of the miners of yesteryear.

Bouldercounty.gov

 

John Marcotte

720-771-9401

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Mysteries of underwriting explored

Mysteries of underwriting explored

If you are a real estate professional and  want to get a better handle on changes regarding credit scoring, mortgage underwriting guidelines, and how to better prepare buyers for the home loan process, you will want to attend a continuing education course on tap next week.

 

The course, titled Mysteries Unlocked – Credit Scores & UnderwritingChallenges,  will be held from 10:30 a.m. until 12:30 p.m. on Wednesday, Oct. 2 at the Mount Vernon Country Club at 24933 Club House Circle in Golden.

It only costs $8 and includes an all-you-can-eat lunch buffet!

Those attending can earn one continuing education credit.

Speakers at the conference will be Jim Kaiser, sales director of Evergreen-based Advantage Credit and Gayle Campbell, vice president of underwriting at Universal Lending. The class is part of the 2013 “Back to School Series” of courses sponsored by Universal  Lending Corp. andLand Title Guarantee, which also are sponsors of InsideRealEstateNews.com.

The credit scoring portion of the class, among other things, will address:

  • Scoring models;
  • How to increase potential buying power with better scores;
  • And how current changes in the market will impact scores.

The class also will address the next year’s Qualified Mortgage Standards that go into effect on Jan. 10, 2014. Campbell is prepared to address and answer any questions on this crucial and important topic.

If you would like to attend, go to Universal Lending Corp. Registration.

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

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