Check Out Wishlist: A Boulder Experience-Based Gift Giving Site

Check Out Wishlist: A Boulder Experience-Based Gift Giving Site

By  YOUR Boulder

Wishlist Boulder

Photo Credit: Adventure Paragliding

Dad’s t-shirt drawer is overflowing, he has plenty of nice ties that he dreads putting on, he just bought himself a nice set ofgolf clubs and you really, really don’t want to resort to buying him socks. Now what?

Thanks to Wishlist LLC, a Boulder-based company, you can sit back, relax and give Dad the best gift he has ever received with just a few clicks of the mouse. You can give him an experience.

“An experience doesn’t devalue overtime and you don’t have to take care of it,” said Suzan Bond, Wishlist’s chief marketing officer.  “I think about how experiences bond people –if you have ever had a life altering experience you remember who was with you or who gave it to you. That is what drew me into this company.”

Wishlist offers several Colorado-based experience categories to choose from: Adventure, Getaways, Urban Living and Wellness – each offering several activity options. All you have to do is choose a category that your dad, girlfriend, employee, etc. will enjoy the most and purchase that category or Wishlist for a set price. The Wishlist is then emailed to the recipient with a personalized message and they get to choose the activity that excites them the most.

“Not only are you buying a personalized gift but it is personalized because they get to pick the specific thing that they do,” explains Bond.

So this Father’s Day give dad the adrenaline rush of navigating whitewater rapids or a quaint weekend getaway… and lets all thank Wishlist for giving us the best gift ever – an alternative to the stressful, traditional gift giving routine.

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Boulder Neighborhood Guide – Whittier

Boulder Neighborhood Guide – Whittier

whittier neighborhood boulderWhittier is one of the most established, and most desirable, neighborhoods in town. Its vibrant mix of older single family homes and student housing, combined with the revitalization of East Pearl Street, have made this neighborhood a walker’s dream come true.

History: Located adjacent to Pearl Street, it’s easy to see why early settlers chose to build their houses in this neighborhood. With large tree-lined streets and large Victorian houses to match, there is a friendly neighborhood feeling that dates back to another time. Whittier was originally established in 1859 and Boulder’s history plays a big part in the neighborhood. You can see many designated historic houses and even more that have been fully restored to their original grandeur.

Housing: Although the houses are expensive in this neighborhood, they feel cozier and less showy than those in Mapleton. Interesting architectural details also set Whittier apart from others. Curved windows, slanted rooftops and stone facades are round around every corner. Not to mention some of the neighborhood’s quirky artistic details. There are funky yard sculptures, hand-carved gargoyles and bright house colors that add even more character and charm to the area.

Being close to Downtown Boulder has pushed prices up in this neighborhood, with many houses going for more than a million dollars. But affordable housing can be found on the south side of the neighborhood. That’s where the condos, apartments and university students are located, taking advantage of the close proximity to the University of Colorado campus.

Restaurants & Shopping: You can walk to all that Pearl Street and Downtown Boulder have to offer. Whether it’s a day of shopping, an afternoon tea party at the Dushanbe Tea House or a night of musical entertainment at the Boulder Theater, living in Whittier puts you near the heart of it all.

Family & Fitness: Everyone can enjoy the pedestrian lifestyle that goes along with the Whittier neighborhood. There are bike lanes aplenty and with Pearl Street, the Farmer’s Market and the Spruce Street pool all within easy walking distance, it’s not difficult to make fitness and family fun regular activities.

whittier elementary boulderSchools: Whittier International Elementary (the oldest continuously operated school in the state), Casey Middle and Boulder High.

Quirks: Whittier has it’s share of personality. The Mork & Mindy house is located in this neighborhood, and the weekly Thursday night cruiser ride goes down Spruce, providing a moving parade of bicycles and costumes. One of the only downsides to living in Whittier is the parking situation. If you don’t have a driveway or your own space, it can be a nightmare. Permit parking and hour limitations are strictly enforced.

Major Street Boundaries: Canyon on the South, 26th on the East, Broadway on the West and Bluff on the North

 

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Things To Do In Colorado

Things To Do In Colorado

Arts to Zoo Cultural Connections 
An Internet portal for the remarkable variety of arts and cultural resources available in and around Denver, including museum exhibitions, events, performances, public gardens, film series and activities for kids. You can also search and view the event calendar for current information, and purchase tickets online, ahead of time. Supported by the Scientific and Cultural Facilities District.
Web site: www.artstozoo.org
Black American West Museum and Heritage Center 
The center, located in the Dr. Justina Ford House, boasts materials and exhibits explaining the heritage of blacks in the West.
Web site: www.coax.net/people/lwf/bawmus.htm
Buffalo Bill Museum 
See the grave and museum of William F. Cody . Objects include Sitting Bull’s bow and arrows, Buffalo Bill’s show outfits, and Frederick Remington’s “Portrait of a Ranch Hand.”
Web site: www.buffalobill.org
Children’s Museum of Denver 
A hands-on educational and entertaining experience for children and their caregivers. Programs and playscapes are designed for newborns to eight-year-olds. Children can participate in theatre, dance and movement, cultural activities, science activities, games and team activities. Other programs enhance cognitive functioning for babies, and real-life roleplaying activities for older kids.
Web site: www.cmdenver.org
City Driving and Walking Tours 
Discover Denver’s historic landmarks and points of interest at your own pace.
Web site: www.denvergov.org/AboutDenver/today.asp
Colorado Historical Society 
Imagine covered wagons, a rendezvous of fur traders, Indian buffalo hunts, mining the Rocky Mountains and life in early Denver . Colorado ‘s own museum features collections of photographs, artifacts and documents. Dioramas and changing exhibitions bring history to life.
Web site: www.coloradohistory.org
Colorado Trail Maps 
Day hikers, walkers, cyclists and other outdoor enthusiasts can download and print trail maps for trails that are accessible from urban regions throughout the state (national parks are excluded.)Complete with trail descriptions, the detailed maps are provided by the Colorado Lottery, which has provided over $11.5 million for more than 303 trail projects since 1983.
Web site: www.coloradolottery.com/about/trailmaps
Denver Art Museum 
The Denver Art Museum is world famous for its American Indian art collection. Visitors can view outstanding architecture, graphics and design galleries, or explore stunning Asian, Modern & Contemporary art, pre-Columbian, and Spanish Colonial galleries.
Web site: www.denverartmuseum.org
Denver Botanic Gardens 
Whether you visit Denver Botanic Gardens to relax under the shade of the enormous weeping willow in the Japanese Garden, to learn from a class or expert lecture, to listen to breezy, cool jazz on a hot summer night or tour the twinkling winter wonderland created by Blossoms of Light, we hope you’ll find that Denver Botanic Gardens is more than just a beautiful garden.
Web site: www.botanicgardens.org
Denver Convention Complex 
Find out what’s happening today and what’s coming up at the Colorado Convention Center and Currigan Exhibition Hall. Floor layouts, directions, nearby lodging and dining guides are also included.
Web site: www.denverconvention.com
Denver Firefighters Museum 
The museum houses an extensive archive of old photographs, documents, journals and news stories about early Denver and the development of firefighting technology. Many artifacts date from 1866, including hand-drawn schematics and two early motorized vehicles. A unique gift shop offers books, toys, collectibles and antiques.
Web site: www.colorado2.com/museum
Denver Mint 
Enjoy a tour of Denver ‘s U.S. Mint, one of only two full-service mints in the nation. Producing between 14 and 20 billion coins each year, the Denver Mint is the largest producer of coins in the world. The gift shop offers exciting numismatic coin and money-related collectibles. Call 303-405-4766 for information about tour scheduling procedures, or visit the Mint’s Web site.
Web site: www.usmint.gov/mint_tours/index.cfm?action=denver
Denver Museum of Nature and Science 
Home of the Gates Planeterium and the IMAX Theater, the Denver Museum of Nature and Science is packed with information relating to the world around us. With programs for the young and old alike, the Museum will keep you entertained, and learning, for hours!
Web site: www.dmns.org
Denver Public Library 
The Denver Public Library (DPL) is the information resource for the people of Denver and the greater metro area. It also acts as the official Resource Center for the state of Colorado and is a regional depository for publications of the U.S. government. The Library is world-renowned for its collection of western Americana and its model Children’s Library.
Web site: denver.lib.co.us
Denver Rail Heritage Society 
Take an inexpensive ride on an open trolley car around Denver ‘s Confluence Park region, or ride through the scenic Platte River Valley to west Denver . Similar to those that once made up Denver ‘s fleet of 300 streetcars, these replica trolleys depart the station near the Children’s Museum on fair–weather weekends in winter and daily in summer.
Web site: www.denvertrolley.org
Denver Urban Gardens 
As a nonprofit organization, DUG operates and assists with the creation and management of over 60 metro-area community gardens and small parks.
Web site: www.dug.or
Denver Zoo 
The Denver Zoo is home to 3,500 animals representing more than 600 different species. During a Zoo visit you can see rare amur leopards, black rhinoceros, coral reef fish, elephants, zebras, vampire bats, gorillas and more!
Web site: www.denverzoo.or
Forney Museum of Transportation 
A “must see” for train buffs! Visit the museum in its new location on Brighton Boulevard . Enjoy over 500 exhibits featuring early-model carriages, automotives and locomotives, including the Big Boy Engine and the Forney Locomotive 040-T Engine built in 1897.
Web site: www.forneymuseum.com
 MaxNights.com 
For info on the latest entertainment and local artist/musician activities in Denver. We post profiles for bands, musicians, comedians, djs, artists and more. Check out our events and live music calendar. Denver has a lot to offer for entertainment and you can find the best opportunities through MaxNights.com!
Mizel Museum of Judaica 
Permanent and changing exhibits illustrate the Jewish historical, artistic and cultural heritage. 
Web site: www.mizelmuseum.org
Molly Brown House Museum 
Costumed guides lead visitors through the 1889 home of the “Unsinkable Molly Brown” – Denver ‘s famous socialite, philanthropist and Titanic survivor.
Web site: www.mollybrown.com
Museo de las Americas 
The museum preserves and interprets the art, history and culture of Latinos in the Americas .
Web site: www.museo.org
Museum of Contemporary Art 
Denver’s first and only contemporary art museum. MCA is a non-collecting space that functions like the European model of a kunsthalle, offering ongoing presentations of innovative and challenging art of our time. Multi-disciplinary programs. Tours upon request.
Web site: www.mcartdenver.org
National Western Stock Show and Rodeo 
Nearly 100 years old, and bigger than ever, the National Western has been recognized by the Pro Rodeo Hall of Fame as one of the top 100 events of the year in the U.S. by the American Business Association, and named Rodeo of the Year by Events Business News Magazine. 
Web site: www.nationalwestern.com
Ocean Journey 
Denver ‘s interactive aquarium and the only marine sciences center in an eight-state region. Explore waters and wildlife from the Continental Divide to the Sea of Cortez , and from an Indonesian rain forest to the depths of the Pacific Ocean .
Web site: www.oceanjourney.org
Parks and Recreation Mountain Parks 
The City and County of Denver owns and operates some of the nicest parks in the front range.
Web site: www.denvergov.org/dephome.asp?depid=88
Red Rocks Park and Amphitheatre 
The world-famous Red Rocks Park and Amphitheatre is open year-round. The new 30,000-square foot Burnham Hoyt Visitor Center offers free interactive and educational displays that, along with a short documentary film, highlight the geological and musical history of Red Rocks. Custom guided tours are also available, and the Ship Rock Grille is a dining treasure serving Colorado cuisine.
Web site: www.redrocksonline.com
Sports Franchises in Denver 

Arena Football (AFL) Colorado Crush 
The team is led by legendary quarterback John Elway, who teamed with Kroenke Sports Enterprises and Denver Broncos owner Pat Bowlen to bring Arena Football to Colorado . The Crush began playing in February 2003.
Web site: www.coloradocrush.com

Baseball (MLB) The Colorado Rockies 
Since 1993 the Rockies have been Denver ‘s ticket to America ‘s favorite pasttime.
Web site: rockies.mlb.com/NASApp/mlb/col/homepage/col_homepage.jsp

Basketball (NBA) The Denver Nuggets 
The Nuggets have called Denver home since their ABA origin in 1967.
Web site: www.nba.com/nuggets

Football (NFL) The Denver Broncos 
Winners of Superbowls XXXII and XXXIII. The Broncos originated in Denver in 1959.
Web site: www.denverbroncos.com

Hockey (NHL) The Colorado Avalanche 
Our 1996 and 2001 Stanley Cup Championship hockey franchise.
Web site: www.coloradoavalanche.com

Lacrosse (NLL) Colorado Mammoth 
The inaugural Colorado Indoor Lacrosse season began January 3, 2003.
Web site: www.coloradomammoth.com

Soccer (MLS) The Colorado Rapids 
Major League Soccer became Denver ‘s fifth franchise. The Rapids first game was in April 1996.
Web site: www.coloradorapids.com

Theatres and Arenas 
City-owned facilities are constantly offering many types of programs, from exhibitions to theatrical works, to sporting events.
Web site: www.denvergov.org/dephome.asp?depid=22
The Urban Farm 
The Urban Farm is a non-profit organization that teaches agricultural and environmental education to urban children and youth. Conveniently situated on 23 acres within the Stapleton development area, The Farm offers classes, tours, school visits and outdoor meeting facilities.
Web site: www.theurbanfarm.org
Wildernet 
A great online outdoor recreation resource dedicated to the outdoor enthusiast. Wildernet provides detailed information on trails, mountains, campgrounds, climbing areas, lakes, rivers and winter sports.
Web site: www.wildernet.com
Winter Park 
For great skiing in the winter and great hiking and mountain biking in the summer, see the beauty of Winter Park and Fraser Valley .
Web site: www.skiwinterpark.com

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John Marcotte

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WANTED: Homes For Sale

WANTED: Homes For Sale

 

Wanted: Denver & Boulder County Homes For Sale!I have active buyers looking for homes throughout various parts of the Denver and Boulder metro areas and there aren’t enough listings. If you would consider selling, please email me and be sure to include:

  • Property Address
  • Price you would like to sell for
  • Tell me about your home
  • Best Phone # to reach you

I will tell my buyer(s) about your home and contact you to schedule a showing if it sounds like a fit.

 

 

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John Marcotte

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What’s Trending?

What’s Trending?

Inventory levels are rising (finally) and # of sold homes are rising too. Here’s my May 2013 Denver Metro Market Watch so you know what’s going on. Trends for May 2013  in Denver Metro Real Estate:

 # HOMES FOR SALE (INVENTORY )  UP 18% FROM PRIOR MONTH (Still Down 22% FROM LAST YEAR) (8,214 NOW vs 6,682 in March) 

  •  WHAT’S TRENDING: So far this year we hadn’t see the rush of spring sellers like we have in the past. Well…now they are starting to hit the market. We have over 1500 more sellers this month compared to last month
  • WHAT DOES THIS MEAN: The market still favors sellers and especially as prices climb, but the increased inventory levels will be interesting to monitor and see if it gives the buyers a bit more control. 
  • TIPS FOR SELLERS: Make sure buyers are serious. Sometimes they are bidding on EVERY home just to keep their options open. Make sure they are serious before entering into a contract and then the buyer backs out.  
  • TIPS FOR BUYERS: Make your highest and best offer FIRST….don’t make an offer planning on a counter or negotiation. If it’s priced well and in good condition….other buyers want it too!

AVERAGE SOLD PRICE DOWN .18% FROM LAST MONTH BUT STILL UP 8% FROM LAST YEAR

  • WHATS TRENDING: Average sold price is $308537. It was $275,000 in January 2013. That’s a BIG jump!
  • WHAT DOES THIS MEAN: Prices are rising quickly which is great for sellers and a challenge for buyers. However, the biggest challenge is the appraisal. Getting homes to appraise for the price they are selling for can be a challenge. 

AVG DAYS ON MARKET  CONTINUES TO DROP! NOW= 48 days (DOWN 14% FROM LAST MONTH & 38% FROM LAST YEAR)

  • Like last month when I wrote, this stat is still skewed. New listings that are priced well are selling in about 7 days. Then the overpriced listings and short sales etc are taking 60+ days to close. If you are priced well it will sell quickly. If you are WAY over priced, however, buyers still aren’t pulling the trigger on yours. They have learned from the previous crash and don’t want to be “upside-down”….plus appraisers are still being conservative on the values and limiting how much a lender will loan on a home regardless of how much a buyer will pay. 

# SOLD HOMES UP 20% FROM LAST MONTH & 22% FROM LAST YEAR

  •  Comparing last year…….Active homes are still down DOWN 22% and Sold Homes are UP 22% which is creating our speedy market recovery. Fewer homes for sale but yet MORE are selling. No wonder buyers are feeling a pinch and new home builders are seeing record # of contracts/sales/deposits.

WILDCARD – ONE THING TO WATCH FOR:  I mentioned last month that interest rates are the wildcard. Well…they still are. I have seen them climb to 4% or just over this past month which means buyers can afford less house as rates rise. Let’s hope the FED keeps them low or else this could have a BIG impact on our market by end of year and and heading into 2014.

by 

 

 

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Home prices accelerate by most in seven years

Home prices accelerate by most in seven years

By Leah Schnurr

(Reuters) – Home prices accelerated by the most in nearly seven years in March as the spring buying season gave the sector traction, while surging consumer confidence pointed to some resilience for the economic recovery.

The data on Tuesday also suggested the two segments could act as buffers as the broader economy faces the pinch of belt-tightening in Washington.

The S&P/Case Shiller composite index of 20 metropolitan areas climbed 10.9 percent year over year, beating expectations for 10.2 percent. This was the biggest increase since April 2006, just before prices peaked in the summer of that year.

Prices in the 20 cities gained 1.1 percent in March compared to the month before on a seasonally adjusted basis, topping economists’ forecasts for a 1 percent rise.

The housing market turned a corner in 2012, several years after its far-reaching collapse. The recovery has picked up since as inventory has tightened, foreclosures eased and historically low mortgage rates have attracted buyers.

A Reuters poll showed the recovery in the housing market likely has momentum through the rest of the year, with economists ratcheting up their forecasts for price gains in 2013.

Separate data showed consumer confidence picked up in May to its highest in more than five years in the midst of a stock market rally and lower gasoline prices.

Housing and the consumer have shown strength even as there have been hints that tighter fiscal policy is starting to bite in the broader economy. Across-the-board U.S. government spending cuts of $85 billion went into effect in March, while the payroll tax holiday expired at the beginning of the year, raising taxes for many Americans.

The data suggested both areas were performing better than the overall economy, said Sam Bullard, senior economist at Wells Fargo in Charlotte, North Carolina.

“There are some individual circumstances that are helping to propel both of these a little bit stronger than what the actual underlying strength would suggest,” said Bullard, pointing to the effect of higher stock prices on consumers, and investor demand for homes in beaten-down regions lifting prices.

Economists expect the pace of growth likely cooled in the second quarter, partly due to tighter fiscal policy, but the second half of the year is seen regaining traction. Investor attention has turned to when the Federal Reserve might start to slow its economic stimulus efforts.

The data lent support to equities where Wall Street rose after comments from central banks around the world reassured investors supportive monetary policies would remain in place. U.S. Treasuries yields rose to their highest levels in over a year.

Housing-related shares rose following the Case-Shiller report before giving up some gains in the afternoon, with the S&P homebuilders ETF up 0.4 percent. The ETF is up nearly 20 percent for the year, outpacing the more than 16 percent surge seen in the benchmark S&P 500 index.

Home prices in Phoenix continued their sharp ascent, rising 22.5 percent from a year earlier. Other standouts included San Francisco, up 22.2 percent, and hard-hit Las Vegas, up 20.6 percent.

 

 

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Boulder Neighborhood Guide – Downtown

Boulder Neighborhood Guide – Downtown

Pearl Street, Downtown, Boulder, Colorado

Pearl Street, located in the heart of downtown Boulder, is the bustling center of town. It provides tourists and locals alike a place to walk, eat and shop in the shadows of the Flatirons. With a four-block stretch of Pearl Street designated as a pedestrian walking mall, opportunities abound for street musicians, play structures and art sculptures to share the very public space. You are never lacking for interesting things going on in downtown.

 

  • History: Boulder began as a supply town for gold miners in the mountains. Now the heart of the city, Pearl Street is believed to have been named for the wife of one of Boulder’s original founders. By 1917, with the automobile taking over, Pearl Street between 11th and 17th streets became the first street in Boulder to be paved. Later, in the mid-30′s, the city’s first streetlight was installed at Pearl and Broadway. The idea for the Pearl Street Mall came about in the mid-70′s as a way of attracting tourists to town and saving a sagging downtown. The Pearl Street Mall is now one of the most successful pedestrian malls in the country, spawning imitators and bringing lots of money into the local economy.
  • Housing: There’s so much happening on the Pearl Street Mall that it’s easy to forget that people actually do live in this neighborhood. Downtown Boulder is one of the oldest residential areas in town, providing many historic homes with Victorian details and delightful charm. Although none of the homes have much of a yard, the big trees and welcoming front patios make up for it. Most homes start at a half-million dollars but there are also condos and apartments to be found in the neighborhood as well. There are many new, modern condos that have been built above retail locations all along Pearl and Walnut Streets.

Boulder Cafe

    • Restaurants & Shopping: Downtown is the mother ship of all dining and shopping experiences in Boulder. So many restaurants to choose from, ranging from the most fancy (I’m looking at you Frasca & Brassiere Ten Ten) to hippie pub to everything in between, that it’s easy to see why Boulder is always named to the foodiest towns list. The Boulder Theater and music on Pearl Street offer loads of entertainment. And we haven’t even begun with the shopping. Oh, the shopping. There is no shortage of wonderful ways to spend your money and time in downtown Boulder.
    • Family & Fitness: One Boulder Plaza, located at the busy intersection of Pearl and Walnut in downtown, includes a health club that features fancy machines, a smoothie bar and the chance to be on display to anyone walking through the One Boulder Plaza building. Outside, you’ll find an area suitable for al fresco dining in the nicer weather that then turns into an outdoor ice rink in the winter. The most fun family activity in downtown Boulder is the Farmer’s Market. Boulder has one of the best. With delicious food, art and music, it really is the place that everyone wants to be on a beautiful Saturday morning in the summer.

market!

  • Schools: Whittier International Elementary, Casey Middle, Boulder High
  • Quirks: It’s pay parking almost everywhere downtown and there are many permit-only spots in the surrounding neighborhoods. Be sure to read signs carefully and know where you’re parking. The last thing anyone wants to take with them after visiting downtown is a parking ticket. The really fun thing about Pearl Street is that you never know what you’re going to see. Depending on the time of year, you might catch a parade of munchkins, a fitness expo, a pep rally or a bunch of naked runners. Totally awesome.
  • Major street boundaries: The one or two block radius both north and south of Pearl Street proper

Downtown Boulder is a vibrant and exciting place to live. You are ,quite literally, in the middle of everything going on in town. The downside? You are, quite literally, in the middle of everything going on in town. Dive in and make yourself comfortable.

Top Photo CreditLet Ideas Compete via Flickr.

 

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Housing recovery boosts Home Depot results; outlook raised

Housing recovery boosts Home Depot results; outlook raised 

The entrance to The Home Depot store is pictured in Monrovia, California August 13, 2012. REUTERS/Mario Anzuoni

(Reuters) – Home Depot Inc (HD.N) reported higher-than-expected quarterly results and raised its sales and profit outlook for the year on Tuesday as the world’s largest home improvement chain benefited from a nascent recovery in the U.S. housing market.

The news pushed the retailer’s shares up as much as 3.4 percent to an all-time high and gave fresh evidence that the U.S. housing market was improving after years of weakness.

For the first time since 2008, sales to contractors and professional customers grew at a faster pace than those to regular homeowners and other shoppers, Chief Executive Officer Frank Blake said on a conference call.

“This quarter’s outperformance from the pro segment is a positive sign” of a housing recovery, Blake said.

A bubble in the U.S. housing market was at the core of the 2007-2009 financial crisis. During the downturn, Home Depot’s sales at established stores fell more than 20 percent in such markets as Florida and California. In recent quarters, the company has gotten a boost as housing markets have rebounded in regions where it has a heavy presence.

“In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expected start to the year for our business,” Blake said.

Recent government data showed permits for single-family homes rose 3 percent to 617,000 in April, the highest since May 2008, while newly issued building permits, a gauge of futureconstruction, rose 14.3 percent.

SALES STRENGTH

Despite cooler-than-usual weather in many parts of the United States at the start of the spring selling season, Home Depot’s sales rose 7.4 percent to $19.12 billion in the first quarter ended on May 5. That topped the analysts’ average estimate of $18.68 billion.

Better pricing and customer service have helped Home Depot take market share from smaller rival Lowe’s Cos (LOW.N). The industry leader has also gained from tailoring its marketing to local areas, centralizing distribution centers and shifting more workers to jobs where they serve customers directly.

Sales at Home Depot stores open at least a year rose 4.3 percent, including a 4.8 percent increase in the United States. Many on Wall Street expect same-store sales at Lowe’s to be weaker than Home Depot’s for the 16th straight quarter when the smaller chain reports results on Wednesday.

Credit Suisse analyst Gary Balter said he expected Home Depot’s sales to accelerate this year “given the company’s strong internal momentum and a developing external tailwind in housing.” He has an “outperform” rating on the stock.

At the end of 2012, Home Depot had 19 percent of the U.S. home improvement retail market and Lowe’s had 16.7 percent, data from Euromonitor International showed. (Related graphic:link.reuters.com/teh38t)

Under Blake, Home Depot was quicker than Lowe’s to cut costs in the years after the housing collapse.

Net income in the first quarter rose to $1.2 billion, or 83 cents a share, from $1 billion, or 68 cents a share, a year earlier. Analysts on average had forecast a profit of 77 cents a share, according to Thomson Reuters I/B/E/S.

For the year, the company now expects earnings of $3.52 a share, up from its prior outlook of $3.37. It forecast a sales increase of about 2.8 percent, up from previous expectations of a 2 percent rise.

Shares of Home Depot were up 2.8 percent at $78.89 in morning trading after rising as high as $79.40 earlier in the session.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)

 

 

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Fed buys $17.3 billion of mortgage bonds, sells $2.2 billion

Fed buys $17.3 billion of mortgage bonds, sells $2.2 billion

A view shows the Federal Reserve building on the day it is scheduled to release minutes of the Federal Open Market Committee from August 1, 2012, in Washington August 22, 2012. REUTERS/Larry Downing

A view shows the Federal Reserve building on the day it is scheduled to release minutes of the Federal Open Market Committee from August 1, 2012, in Washington August 22, 2012.

Credit: Reuters/Larry Downing

 (Reuters) – The Federal Reserve bought $17.3 billion of agency mortgage-backed securities from May 9 through May 15, a tad less than the $17.8 billion it purchased last week, the New York Federal Reserve Bank said on Thursday.

In a move to help the housing market, since October 2011 the U.S. central bank has been using funds from principal payments on the agency debt and agency mortgage-backed securities, or MBS, it holds to reinvest in agency MBS.

The New York Fed said on its website the Fed sold $2.2 billion in mortgage securities guaranteed by Fannie Mae (FNMA.OB), Freddie Mac(FMCC.OB) or the Government National Mortgage Association, or Ginnie Mae, in the latest week. It sold $2.7 billion the previous week.

Last September 14, the Fed increased its purchases of MBS to $40 billion a month in its third round of large-scale bond buying in an attempt to support the housing recovery and boost economic growth.

(Reporting by Richard Leong; Editing by James Dalgleish)

 

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Mortgage applications tumble as interest rates jump

Mortgage applications tumble as interest rates jump

Homes that are valued at over $1 million, sit along Bersano Lane in Los Gatos, California September 6, 2012. REUTERS/Norbert von der Groeben

(Reuters) – Applications for home mortgages dropped for a second week in a row last week as a spike in interest rates stymied demand for refinancing, data from an industry group showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, tumbled 9.8 percent in the week ended May 17.

The index of refinancing applications slumped 11.7 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 3 percent.

Fixed 30-year mortgage rates rose 11 basis points to average 3.78 percent.

Mortgage rates increased to their highest level since March last week, leading to the largest single week drop in refinance applications this year,” said Mike Fratantoni, MBA’s vice president of research and economics.

Despite the decline in purchase demand, activity was still running about 10 percent above the pace at this time a year ago, Fratantoni said.

The refinance share of total mortgage activity slipped to 74 percent of applications from 76 percent the week before.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

(Reporting by Leah Schnurr; Editing by Leslie Adler)

 

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