National Laboratories in Boulder

May 15, 2013 by

National Laboratories in Boulder

It’s not unusual on any given day to hear Boulder mentioned in national news coverage of groundbreaking scientific research. Punctuated by acronyms such as NCAR, NIST and NOAA, such stories reveal that Boulder’s three national laboratories — the National Center for Atmospheric Research, National Institute of Standards and Technology, and National Oceanic and Atmospheric Administration — have been busy making some of the world’s most important discoveries about Earth and beyond.

The presence of these prodigious institutions not only raises Boulder’s collective IQ, but it also provides visitors with a few unique and fun learning opportunities. NCAR, whose geometric, rust-colored buildings are nestled against the Flatirons, offers an exceptional visitor program that includes tours, hiking trails, a theater showing educational films, art galleries and hands-on climate and weather exhibits. See some of the world’s largest and most advanced computers, touch a simulated tornado and take in the gorgeous views of Boulder.

NOAA’s tours take place at 1pm each Tuesday and include stops at several working portions of the laboratory where you’ll be the first to learn the national weather forecast. A high point of the tour is the Science on a Sphere stop, which involves a very cool and very large animated globe.

View the entire article here

 

John Marcotte

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Boulder’s History is No Mystery

April 28, 2013 by

Boulder’s History is No Mystery

Plenty of Ways to Stay, Eat, Play, Listen, See and Learn

Boulder’s history is easily experienced.  From its aesthetically-appealing historic downtown and neighborhoods, historic walking and bus tours, to its own National Historic Landmark, this college town of 103,000 residents is a history-lover’s dream town.

Downtown Boulder – Boulder celebrated its 150th anniversary in 2010 and the town’s history is evident in a number of places around town, most notably in the downtown historic area.   The Downtown Boulder Historic District was listed on the National Register of Historic Places in 1980.  Pearl Street is the main street and four blocks of it are closed to traffic which make-up the Pearl Street Mall.  It is the heart and soul of Boulder and the perfect spot to see Boulder’s distinctive lifestyle.    http://www.boulderdowntown.com/

  • Stay: Overnight at one of Boulder’s downtown historic properties – the Hotel Boulderado, the Bradley Boulder Inn, or the Briar Rose B&B.
  • Eat: Many of Boulder’s favorite restaurants are located in historic downtown Boulder.
  • Play:  Little kids cool-off by playing in the pop-jet fountains located on the pedestrian mall in front of the art deco Boulder County Courthouse.
  • Listen: Take a tour from Banjo Billy Bus Tours or Boulder Walking Tours and listen to guides tell stories about Boulder’s historic people and places.
  • See: Historical signs with words and photographs displayed along the Pearl Street Mall.
  • Learn: The Boulder History Museum is open every day except Mondays.

Chautauqua – Teddy Roosevelt called it “the most American thing in America.”  He was referring to the Chautauqua Movement, which was at its height in the late 1800’s through the early 1900’s, and was where Americans traveled to gather for multiple days to enjoy stimulating lectures, music, camaraderie and nature.  The Colorado Chautauqua was, and still is, located in Boulder.  It was named a National Historic Landmark in 2006.  It is located on 40 acres at the bottom of Boulder’s mountains – exactly where the mountains meet the plains – and is made up of nearly 100 cottages, a restaurant, an auditorium, a park, hiking trails and wide open spaces.  http://www.chautauqua.com/

  • Stay: Overnight in a historic cottage (studios to 3-bedrooms).
  • Eat: Linger on the wrap-around porch of the restaurant, circa 1898.
  • Play: Throw a ball, run around or take a nap under the big old trees in Chautauqua Park.
  • Listen: Attend a concert – symphonic or rock & roll – in the historic auditorium.
  • See: Stroll through the streets, gardens and hiking trails.

History – Boulder was first populated by miners who flocked to the area when gold was discovered in Boulder Canyon.  The city’s beginnings date to 1859 when a group of foresighted settlers organized the Boulder City Town Company.  In the early years, the town grew slowly, because lots were expensive and business was limited to trades which supplied the mining towns in the mountains.  In 1873, railroads connected Boulder to other major areas.  Between 1873 and 1880, the population tripled.  The young community of Boulder began preserving land in 1898 with the purchase of Chautauqua Park.    By the end of the 19th century, Boulder had already established itself as a center for health, recreation, and culture.  In 1967, Boulder became the first city in the US to tax itself for the acquisition, management, and maintenance of open space.  Today, there are 45,000 acres of this open space surrounding the city.

Located 35 minutes northwest of Denver and 45 minutes from Denver International Airport, Boulder is a captivating community enriched with natural beauty, hip urban culture and a vibrant love of the outdoors. Visit Boulder and experience its distinctive lifestyle overflowing with world-class restaurants, inspired shopping and art, unbeatable people watching, and thousands of acres of wide open spaces.

 

 

 

John Marcotte

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Boulder Facts

April 27, 2013 by

Boulder Facts


Location
Boulder is nestled in the foothills, where the rolling plains meet the Colorado Rocky Mountains. Centrally located near Denver, Denver International Airport, Eldora Ski Resort (Johnnie’s mountain!) and Rocky Mountain National Park. Downtown Denver is just 35 minutes away.  A few hours from many of Colorado’s world-famous ski resorts, making Boulder the ideal Colorado destination.

Age Demographics
18-24 Years — 31%
25-44 — 36%
45-64 — 25%
65+ — 8%
Median — 29

Elevation & Size
5,430 feet (Denver is 5,280 feet); City of Boulder is 27.8 square miles.

Population
102,500 residents, including 25,000 students at the University of Colorado.

Weather
Four distinct seasons and over 300 sunny days a year.
Average temperature highs/lows:

Spring (March-May) — 63/35 F
Summer (June-August) — 83/55 F
Fall (September-October — 72/45 F
Winter (November-February) — 45/23 F
Average 83.3 inches of snowfall a year.

Recreation
Rated the “#1 Sports Town in America” by Outside Magazine, Boulder offers countless year-round recreational activities. Take advantage of the 200 miles of public hiking and biking trails, approximately 43,000 acres of open space or the Boulder Creek Path, which runs through the middle of own.

Arts & Culture
More than 30 art galleries, 4 local museums, 32 movie & stage theaters and many festivals, including the Colorado Shakespeare Festival, Colorado Music Festival and Chautauqua Summer Festival.

Dining
More than 400 restaurants featuring local, regional and international foods.

Accommodations
Approximately 2,000 guestrooms, ranging from full service city hotels to rustic cabins to historic Victorian suites.  Whether you are staying at a cozy Bed & Breakfast or our largest conference hotel, mountain views and proximity to activities will ensure an unparalleled experience.

Sister Cities
Dushanbe, Tajikistan; Jalapa, Nicaragua; Lhasa, Tibet; Mante, Mexico; Yamagata, Japan

Founded
City of Boulder founded in 1859.

Courtest of www.bouldercoloradousa.com

 

 

John Marcotte

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30 Reasons to Love Boulder

April 25, 2013 by

30 Reasons to Love Boulder

1.   Listening to the babbling Boulder Creek while strolling or biking the scenic Boulder Creek Path – right through the middle of town.

2.   Tours that speak to whatever your passion is – from bikes to food and history to brews.

3.   High-fiving other hikers at the top of the thigh-burning Mt. Sanitas hike – and then being rejuvenated by the views of Boulder Valley.

4.   Letting tiny tots strip down and run with total glee through Pearl Street’s pop-jet fountain (at Pearl and 14th Sts).

5.   Sipping cocktails made by ingredient-obsessed mixologists at Bitter Bar, Salt or Oak at Fourteenth.

6.   Hearing a concert – any concert – at Chautauqua Auditorium, with its breathtaking acoustics. Audiences can listen for owls hooting in the
rafters between songs.

7.   Dining at dozens of award-winning restaurants that make us America’s Foodiest Town, according to Bon Appétit magazine.

8.   Admiring the view at University of Colorado’s Varsity Bridge, which resembles a scene from an impressionist painting.

9.   Hopping on a bike (easily rented from one of the many shops throughout town) and seeing the sights like a local.

10.   More tech startups than you can shake a stick at – and the culture to go along with it (think artisanal coffee shops and geek-er-ific
event like Ignite Boulder).

11.   The free tea factory tour at Celestial Seasonings, which happens every hour on the hour daily and comes with free tastings and a look
at their special art gallery.

12.   Delicious bites, beautiful bouquets and locally produced foods at the Boulder Farmers’ Market, one of the best in the West.

13.   Free Saturday visits (during the farmers’ market) to the Boulder Museum of Contemporary Art.

14.   Admiring every square inch – inside and out – of the ornate Boulder Dushanbe Teahouse, which was created in Tajikistan, given as a
gift to Boulder, and shipped and assembled here.

15.   Walking where beat poets Allen Ginsberg and Anne Waldman might have walked on the campus of the Naropa Institute, one of the few
major accredited Buddhist-inspired universities in North America.

16.   A beer paired with a phenomenal view of the Flatirons on the rooftop of West End Tavern.

17.   Shopping big-name brands – with a big-sky view of the Flatirons – at the Twenty Ninth Street mall.

18.   Making the short but dramatic hike to Boulder Falls, nestled in Boulder Canyon.

19.   Taking a tour, embarking on a hike or admiring the I.M. Pei-designed architecture at the striking National Center for Atmospheric
Research (NCAR).

20.   Watching the raucous Thursday evening cruiser ride – a group of costumed, cheering bicyclists – whiz by. Or better yet, joining the ride.

21.   Rediscovering the lost art of mead-making at the tucked-away Redstone Meadery.

22.   Catching a nationally known musician at the legendary and intimate Boulder Theatre.

23.   Enjoying an ice cream cone while taking in some of the best people-watching in the world on the Pearl Street Mall.

24.   Having a picnic on the sprawling, grassy hillside (while the kiddos play on a model rocket ship) at Scott Carpenter Park – all with a view
of the iconic Flatirons.

25.   Creative exhibits at the Boulder History Museum, such as “Beer! Boulder’s History on Tap.”

26.   Shakespeare under a starry mountain sky at the Colorado Shakespeare Festival.

27.   Live radio tapings, incredible musicians, and a do-good mission at eTown Hall.

28.   Swishing, sipping and savoring local wines at Bookcliff Vineyards or Boulder Creek Winery.

29.   Heading to the Hill, the student-centric neighborhood adjacent to the University of Colorado, for casual eats and great shows
at the Fox Theatre.

30.   Riding a saddle or lounging in a recliner aboard Banjo Billy’s Bus Tours’, a hard-to-miss shack on wheels.

 

Courtesy of www.bouldercoloradousa.com

 

John Marcotte

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Snapshot of state’s housing market shows strength

April 22, 2013 by

Snapshot of state’s housing market shows strength

Buyers in Colorado purchased 18,343 single-family detached homes, condominium and townhomes in the state in the first quarter, a 16 percent increase from sales in the first quarter of 2012, according to a report released today by the Colorado Association of Realtors.

The Quarterly Market Statistical Reports also showed that new listings dropped slightly more than seven percent statewide, primarily due to drops in the Denver metro region and the mountain region.

Meanwhile, the median sales price rose nearly 15 percent to $225,000 compared to the first quarter 2012. Days on the market continued downward, dropping 22 percent to 90 days on average.

The statewide number of active listings for the first quarter was at 30,114, representing a 4.1-month inventory supply.

The Quarterly Market Statistical Reports are prepared by 10K Research and Marketing, a Minneapolis-based real estate technology company, and are based on data provided by Multiple Listing Services in Colorado. The reports represent approximately 90 percent of all MLS-listed residential real estate transactions in the state. The metrics do not include “For Sale by Owner” transactions or all new construction.

Sales of lender-mediated properties (properties owned by banks and other mortgage lenders) declined in all areas of the state, ranging from a drop of three percent in the Southeast to 44 percent in the Northwest area. Overall, such sales represented about 22 percent of all transactions in the first quarter 2013. The median sales price for lender-mediated properties increased 10 percent statewide compare to the same period in 2012.

The CAR Housing Affordability Index, a new statistical measure for Colorado’s housing market, dropped about seven percent to 163 for the state as a whole, declining in each area of the state except the Northwest. An index of 120 means the median household income in that area was 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.

A higher number usually is interpreted as greater housing affordability. Higher values generally benefit buyers whereas lower values help sellers.

 

Metro Denver Region (Denver, Jefferson, Adams, Arapahoe, Broomfield, Douglas counties.)

Sales in this region rose 18 percent while median sales price jumped more than 16 percent to $240,000. Prices rose consistently throughout 2012, a trend that continued into the first quarter of this year. One of the consequences of improved prices is that the Affordability Index for Metro Denver has dropped steadily during 2012 and into the first quarter 2013.

Days on the market showed a 29 percent year-over-year drop, the largest drop of any region in the state.

In addition, this region had fewer han 9,100 homes available at the end of the quarter, representing a 2.2-month supply and down about 2000 from the fourth quarter of 2012.

Northeast Region (Boulder, Larimer, Logan, Morgan, Weld counties.) –

This region of Colorado continues its trends from 2012: new listings are up five percent (one of four regions showing an increase in this category); sales increased 19 percent, the seventh consecutive quarter of increases; days on the market decreased by 20 percent (surpassed only by Metro Denver).

The CAR Affordability Index dropped three percent. The region had nearly 5,700 homes available at the end of the quarter, representing a four-month supply.

Courtesy of The Colorado Association of Realtors, the state’s largest real estate trade association representing more than 19,000 members statewide. For more information:www.ColoradoREALTORS.com.

 

John Marcotte

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What is market value?

April 19, 2013 by

What is market value?

Ultimately, whether we like it or not, buyer’s ultimately determine market value. What someone is willing to pay IS the market value. If what someone is willing to pay is not what you “need”, the variable we need to adjust is TIME. Maybe another 6 months, or in some cases, another 6 years, but only time will eventually lead to increased market value. Just because you “need” an amount does not mean a buyer will pay it.

How To Avoid It:

Get educated on what similar homes to yours have sold for in the last 3 months. Hire an agent with intimate market knowledge of your area and have them present a market report with pricing recommendations. Price your home where it is compelling to buyers based on this data and not on your desires. If it’s too low, you might consider waiting for the market value to increase.

 

Feel free to call me anytime for a free market analysis.

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John Marcotte

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Buying a Home “As Is”– 5 Things You Must Know

April 15, 2013 by

Buying a Home “As Is”– 5 Things You Must Know

 

Sold As IsSo you want a good deal, eh? You have watched your fill of HGTV and know your local Home Depot folks by name, and are ready to buy a “fixer”! Or, perhaps you are wanting a “move in ready” house but stumble on a great listing online and it looks perfect….but that silly verbiage in the MLS listing says “AS IS”. If you are like most buyers, this brings up disturbing thoughts of the 80′s movie “The Money Pit” and you think, “What’s wrong with it then”! Well, here are a few bullet points to know when this happens.

1. AS IS Does NOT ALWAYS Mean Something is Wrong With It
What the verbiage AS IS in a sales contract means is that the seller is telling you upfront that you are buying the home in it’s current condition and they will not make any repairs or improvements if requested. That’s it.

2. Your Inspection Is For Informational Purposes Only and Not to Request Repairs
You are still able to write an inspection period in the contract and make the sale contingent on you getting an inspection unless the seller specifically states you must waive inspection. Now, after you have your pretty inspection report with digital photos (if you used a savvy inspector) and are reading it, you now must determine if you still want to buy the house. You now know (if you used a good inspector) everything that is wrong with the house and needs repair once you move in. Is it what you were expecting? Is it more? Is it less? You get to decide based on this information if you want to go forward with your offer.

3. Buyers Should Do a Pre-Inspection Prior to Offering

Since the inspection is for informational purposes only, I highly recommend doing a pre-inspection prior to making your offer. If you are doing the work yourself, then go back to the property when you are determining an offer price and you can calculate all your estimated repair costs so that you have an offer price that makes good financial sense. If you are having a contractor do the work, have him/her look at it and give you estimates so you can make an offer with these costs factored in.

4. You can Still Back Out After Inspection if It’s a “Money Pit”
You don’t have to buy the home if the inspection turns up anything you don’t want to tackle. Plain and simple. As long as you tell the seller by the inspection objection period you are covered and will get your earnest money (deposit) back.

5. If you are a “Normal Seller…Never Ever use the word AS IS” in your Marketing!
Banks will always market their homes “As Is”, but if you are a private owner and are selling your house, don’t use this verbiage! It scares buyers. They start thinking you are hiding something. Don’t do it. Let them do their inspection, if you know of ANY problems you legally have to disclose them anyway, and then be reasonable when it comes to any problems uncovered at inspection that you didn’t know about.

 

 

John Marcotte

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More Home Buyers Asking for Insurance Loss History Reports From Sellers (C.L.U.E. Reports)

April 14, 2013 by

More Home Buyers Asking for Insurance Loss History Reports From Sellers (C.L.U.E. Reports)

 

An increasing trend in Colorado real estate is home buyers requiring home sellers to provide a C.L.U.E. Home Seller’s Disclosure Report as a contingency to purchase contract. C.L.U.E. Home Seller’s Disclosure Reports provide a five-year insurance loss history for a given address, without divulging personal and private information about a property owner.

FOR BUYERS: If the report for your property indicates the owner/home has sustained an insurance loss within the past five years the availability and/or pricing of buyer’s new homeowners insurance policy can be greatly impacted. You might not be able to get a policy or it may come at much higher cost than you are expecting. In addition, if a claim is shown, you can make sure to verify the repairs have been completed, request work receipts, and even have your home inspector evaluate the repairs for you. If the repairs have not been made that raises some flags and you want to share these areas with your home inspector as well.

FOR SELLERS:   You can order this when you list your home (and not wait for the buyer to request it) By ordering the C.L.U.E. Home Seller’s Disclosure Report ahead of time you can be ready should this contingency arise when you receive an offer. In addition, providing this report to potential buyers will make them more comfortable when deciding to make an offer because the loss history is known. This may give your home an advantage over one where the insurance loss history is not known.

The seller’s insurance agent should be able to run this report, or the seller can order one directly online at Lexus Nexus

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John Marcotte

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Things to consider before buying an investment condo

April 13, 2013 by

Things to consider before buying an investment condo

Highlights:

  • House lawyer provides tips on buying investment condo.
  • Condo bylaws, declarations and house rules are crucial.
  • Beware of poor or tyrannical management.

By Harvey S. Jacobs

Special to InsideRealEstateNews.com

Buying and renting out a condo may be the way to go for people who want to invest in property but don’t want the responsibility of owning, renovating and maintaining a single-family house.

Before buying a condo, there are three things you should learn about.

First, you should have a professional home inspector examine the unit’s components and systems.

Second, you need to study the condominium’s financial statements. This examination is designed to determine if it is solvent on a day-to-day operating basis. The financial exam should also assess whether the condo’s reserve account will be sufficient to handle any scheduled and unscheduled repairs and replacements. If the condo does not have sufficient reserves, there is likelihood that you will incur a special assessment. Special assessments can seriously cut into your profits.

Third, you should carefully review the legal documents — including the declaration, bylaws and house rules— that govern your condo unit’s use and ownership.—

The declaration will detail the condo unit’s legal existence and describe the unit’s dimensions.

The declaration also will identify the common elements (such as hallways, lobby, stairway which are used by all condo-unit owners), and limited common elements (such as storage units, parking spaces and balconies, which are generally for one unit’s exclusive use). The declaration also will spell out the percentage interest each unit possesses in the condo association. The monthly condo fees are assessed in proportion to each unit’s percentage interest. The declaration also will reveal if there are any restrictions on your unit’s sale – whether the association has the right to purchase your unit.

The bylaws outline the condo association’s rules of operation for annual meetings, voting, officer elections and the board of directors.

Bylaws also specify whether a unit can be rented, and if so, under what terms. It is critical that you confirm that you are able to rent the condo unit before you buy it. Many condo associations restrict how owners can rent. These restrictions often are approved by unit owners to comply with a Fannie Mae requirement that no more than 50 percent of the units can be investor-owned for one to qualify for financing. Fannie Mae guidelines also require that, to qualify for financing, the association not have too many delinquent condo fees.

The house rules are binding on owners and tenants. They cover things like pet policies, move — in and move-out policies, penalties for noise or other nuisances. You need to become familiar with the house rules. You also need to attach the house rules to your lease and make sure your tenants agree to comply with them. It is a good idea to add a clause to your condo lease that makes your tenants responsible for any fines the condo association imposes on you for their violations.

One of the main benefits of investing in rental condos is that you are only responsible for maintaining the condo unit’s interior. All other systems and components such as the roof, basement, HVAC, plumbing and electrical systems are generally the condo association’s responsibility. You are still responsible for those systems that are contained within your unit.  Another advantage is that when those systems need repair, the board of directors is responsible for making them. Granted, they make those repairs using your condo fees. But you are not necessarily the one who has to find, contract and supervise the repairs.

There also are drawbacks.

When analyzing whether your investment will generate a positive cash flow each month, you have to factor your condo fee into your mortgage principal, interest and taxes and all other expenses. Another potential negative is that a distress sale in the building can negatively impact all the other units in the condo. So if only one or two owners have financial reverses and have to sell their units at a discount, they will drive your unit’s price down as well. There is always the risk that your fellow owners will vote to prohibit or severely restrict renting the condo units. If that happens, you may have to sell at a time when the market conditions may not be favorable.

Finally, condos often suffer from poor or tyrannical management. Therefore, if you decide to invest in Boulder rental condos, you should strongly consider becoming actively involved in their governance. You should get to know the other owners, consider running for the board and at a minimum, attend every condo meeting.

Harvey S. Jacobs is a real estate lawyer in the Rockville office of Joseph, Greenwald & Laake. @Harvey S. Jacobs 2013

 

John Marcotte

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March home sales sizzle, but inventory fizzles

April 9, 2013 by

March home sales sizzle, but inventory fizzles

  • Inventory levels hit a new low in March.
  • Every other metric was strong.
  • The average price of a single-family home rose 12.5% 

A snapshot of the housing market. Source: Metrolist.

A snapshot of the housing market. Source: Metrolist.

March was a strong month for the Denver-area resale home market, with double-digit gains in contracts, closings and sale prices, according to reports released today.

However, the inventory of unsold homes fell to a new recorded low of 6,682, a 1.5 percent drop from the previous low of 6,786 in February, according to the reports released by independent broker Gary Bauer and Metrolist.

It was only the fourth time since Metrolist began keeping full-year records in 1985 that the inventory had fallen from February to March.

On the other hand, there were 5,328 homes placed under contract in March, a 12.2 percent increase from the 5,328 in March 2012.

Closings, which reflect homes placed under contract in prior months, were double the contract activity.

There were 4,333 closings in March, a 24.7 percent jump from the 3,475 in March 2012. From February to March, contract activity was up 18.7 percent and closings soared 46 percent

The low inventory and strong demand resulted in higher

John Marcotte

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