WHAT ARE TAX LIENS?

January 18, 2014 by

WHAT ARE TAX LIENS?

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We often are asked about tax liens, specifically investing in tax liens with a Self-Directed IRA.  While many Self-Directed IRA trustees do not provide the checkbook control typically necessary for success in tax lien investing, theCureIt Financial IRA/LLC absolutely does provide the checkbook control needed.

Here is how a tax lien works: a county has property owners who are behind on their property taxes.  The county needs that tax revenue to pay its bills and cannot wait for the property owner to get their finances in order or until the law permits the county to foreclose on the property in order to collect.  So the county puts the debt up for auction, seeking investors who will pay the county the money that they need now, in exchange for a promise of their money back plus interest.  In most cases the interest promised will be double digits in the form of a penalty that the property owner must pay to get caught up or that gets tacked on to their debt owed at foreclosure.  In some counties the penalty is 20% or even 25%.

No matter how many tax liens you bid on you will never get 25% interest on your money.  Here is why:  Investors bid on the debt by stating how much of the maximum penalty they are willing to accept.  So an opening bid might be 24% followed by 22% and bid on down from there until someone has a final bid that promises them a return somewhere south of 25%.  Banks and other professional investors will come to auctions with large budgets measured in the tens or even hundreds of thousands of dollars and just bid as low as it takes to win.

In fact, many investors assume that no matter what the starting bid may be that the winning bid will be for a return in the single digits or even nothing at all!  For example in FL, where the average winning bid is under 3%, bidders are willing to go that low because there is a mandatory 5% premium added to any winning bid.  So that 2% bid you won will actually pay out at 7%.  Another reason a winning bid may go low is that once you own the lien you own first rights – at full premium – for any subsequent tax liens that property may garner.  Would you be willing to accept single digit returns on most of your investments if a handful of those investments led you to 15%-25% returns a year later?  In some states, notably New Jersey, property taxes are due quarterly and so buying the first lien may lead to a second full premium (18% in NJ) tax lien available to you without competition just 3 months later.  In New Jersey it is not unheard of for investors to not only agree to receive zero premium but actually to pay an extra premium to the county just to get their hands on those potential no-bid 18% future tax liens.

Consider too that very few tax lien go unpaid all the way to foreclosure auction.  In fact,according to the National Tax Lien Association 99% of tax liens are redeemed by the property owner prior to foreclosure proceedings, so the odds are strongly with the investor that the return on investment will come sooner rather than later. If the lien you buy for a 5% premium is redeemed in 6 months that is actually an annualized return of 10%.

Only 28 states offer tax liens so one challenge that you may encounter if you consider tax lien investing is that they’re not available where are.  Some states have passed laws to bring tax lien auctions online and so the location based limitations are starting to disappear.  Florida in particular has been leading the way in bringing tax lien auctions online.  When using a Self-Directed IRA/LLC for Checkbook control of your IRA investments, you can bid in any state that you wish, however be aware that some states may require you to file an extra form known as a Foreign Entity Application before you can complete your investment.

For additional information on Tax Lien investing contact us at www.cureitfinancial.com.

 

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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5 WAYS TO ENHANCE YOUR HOME WITH FENG SHUI

January 5, 2014 by

5 WAYS TO ENHANCE YOUR HOME WITH FENG SHUI

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Feng Shui is the ancient art of creating harmony and positive energy in a space. You will find that if you follow the principles of feng shui, your living space will be more comfortable and appealing. It doesn’t even matter if you believe in esoteric principles or not. Let’s look at some ways to transform the different areas of your home.

1. ENTRYWAY

The entrance to a home is extremely important, as this is where both residents and visitors enter a living space every day. You want to make this area as inviting as possible. You can start by making sure this space is clean, neat and uncluttered. If the front door needs painting, if there are cobwebs in the doorway or if the wood on the front porch needs replacing, these can all block the flow of energy.

An entryway can be enhanced by an attractive door mat, plants or flowers on the front porch, and new hardware on the front door. You should take a look at the view in front of your door and think about how it could feel more welcoming.

2. KITCHEN

The kitchen is often considered the center or heart of a home, as this is where people tend to cook, eat and spend time with company. You can keep the energy flowing in your kitchen by making sure everything is neat and that food and dishes are put away when not being used. The kitchen should feel spacious at all times. You should also make sure that plenty of light enters the room during the day.

Having healthy and fresh foods around also contributes to the energy of the kitchen. This is also good for your body when you eat these foods too, of course!

 3. BEDROOM 

Bedrooms should be designed in a restful and relaxing manner. For this reason, it should be free of TV and other electronic devices as much as possible, as well as anything related to work or business. Try to keep computers, financial data and other items related to practical life in other areas of the home.

The colors used in each bedroom should be soothing and not overly energetic. This goes for the walls, floors and ceiling. The same goes for any artwork or decorations around the room.

Having a comfortable and sturdy bed is also essential. You should be able to enter your bed from either side. For balance, it’s good to have an end table on either side of the bed.

4. BATHROOM

First of all, the bathroom should be kept as clean as possible at all times. Keep drains plugged and the toilet seat down to prevent the escape of energy. Feng shui is all about balancing the elements, and bathrooms tend to have an excess of the water element.

To prevent any imbalance of energy, make sure that sinks and bathtubs are kept as dry as possible when not in use. Consider hiring a septic tank pumping contractor to prevent clogs that will cause flooding and water leaks. You can also add the earth element by using different colors in the room. Rugs, towels and mats, for example, can contain colors such as brown, green and gold to create some earth energy in the bathroom.

5. HOME OFFICE

From a feng shui point of view, it’s good to have a home office. This gives you a place to focus on business so that you don’t use the bedroom, living room or kitchen for this purpose. Ideally, the home office should be as far from your bedroom as possible. The room where you sleep should not be getting the active flow of energy that a home office will produce.

When working in your home office, you want your desk to be strategically positioned. A desk should not be near the door or in direct line with it. Nor do you want to be facing a wall. It’s best to have your back to the wall so you can see out into the room.

For feng shui in the home office, you also want the room to be as well organized and uncluttered as possible. Additionally, symbols of your goals and objectives should be visible from where you work. This can be anything from motivational posters to artwork containing positive symbols.

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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SHORT SALES AND THEIR EFFECT ON YOU, NOW AND IN THE FUTURE

January 1, 2014 by

SHORT SALES AND THEIR EFFECT ON YOU, NOW AND IN THE FUTURE

If you are a current homeowner living in an area where there are many “Short Sale” home sales occurring (and foreclosures) this is certainly affecting the value of your Real Estate. The lien holders on a “Short Sale” are agreeing to allow the owners to sell their home for less than what is owed and in many cases for less than current market value. This then drives the market value lower and lower. Until the Foreclosure Sales and Short Sales taper off this is going to continue. Even if a buyer is willing to pay top dollar for a home in your neighborhood, if they are financing the property the appraiser is now struggling to find comparables to justify the price the buyer is willing to pay. If the appraised value falls short of the negotiated sales price the buyer may not be able to procure the loan which forces the seller to re-evaluate his negotiated price to determine whether to sell in today’s market.

If you are a current homeowner that has made the decision to sell your Real Estate in a “Short Sale” scenario here are some things you will want to investigate thoroughly. What is my future debt responsibility? What are my tax implications? How will this affect my credit now and in the future? The internet is truly a gift when it comes to finding answers; let’s look at the credit issue. Based on data compiled by Fair Isaac Corp., which developed FICO scores, and VantageScore, the scoring model used by three of the major credit bureaus – Experian, TransUnion and Equifax – if a lower sales price than outstanding balance was negotiated (Short Sale), but a delinquency was reported it would affect the credit approximately 50-140 points; there will also be an impact on the score depending how many late or non-payments were reported prior to the close of escrow. You could possibly turn around and be able to purchase in as little as 12-18 months (a Fannie Mae or Freddie Mac backed loan is a minimum of 2 years). If the home is foreclosed on the damage is a bit more severe and would affect the credit approximately 150-300 points plus damage of the late or non-payment history already reported. Typically this will affect your purchase power for a minimum of 3 years.

The Distressed Property Institute, LLC reports that Credit History on a Foreclosure will remain as a public record on a person’s credit history for 7 years or more. A Short Sale is not reported on a person’s credit history. There is no specific reporting item for “short sale”. In most cases a loan is typically reported “paid in full, settled” or “paid as negotiated”. For more information on Foreclosure vs. Short Sale regarding future loan potential, credit score, credit history, security clearances, current employment and future employment visit the Certified Distressed Property Expert at www.cdpe.com.

 

Short Sales and Their Effect on You, Now and in the Future

 

 

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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Stay Safe, Boulder – Avoid the DUI

December 31, 2013 by

Stay Safe, Boulder – Avoid the DUI

boulder dui

Maybe New Year’s Eve festivities won’t come soon enough for you today. The end of one year, the dawn of the next. Here’s Your Boulder’s wish for you: we want you to avoid walking (or stumbling) into the New Year with a DUI on your record.

Boulder is a sleepy town for crime. We like our bar fights and hate the bike thieves. Doors to homes around town are left unlocked because we know and trust our neighbors and love our neighborhoods. That means our police department doesn’t have much to keep it busy — a blessing and a curse. We honor those who dedicate their lives to public service on the police force, protecting our homes, businesses, and families.

But we’ll be honest — we don’t really want to contribute to the revenue side of the whole serve-and-protect thing. DUIs are big business in Colorado. Before you even contemplate drinking and getting behind the wheel of a car — or even IN a car with someone who’s been drinking, how about a few sobering facts about the penalties for DUI in Colorado?

We thought you weren’t too fond of the 1%. According to BoulderColorado.gov, there were 708 DUIs in Boulder County in 2012. Whenpopulation statistics hover around 99,000-100,000 people, DUIs are approaching 1 for every 1000 residents. For a community that sure likes to talk smack about the 1%, here’s a 1% you don’t want to join.

What it takes to get a DWAI or DUI. The legal limit in Colorado is a BAC content of 0.08%. For some people, that’s 2 drinks in an hour. For others, it’s 3 to 4. Our bodies handle alcohol differently every day. Here’s what you can count on: If an officer thinks you’re operating a vehicle in an impaired state, they will (without doubt) demand that you submit to testing to verify. And guess what? You can’t refuse in Colorado. Well, you can, but refusing is an automatic suspension of your license for one year. We know you love the Boulder bubble and the Hop, Skip, and Jump, but seriously — why not skip the drama?

What a DUI costs in Colorado. As we said, they’re big business. First, you have to get out of jail. Got bail money? Hope so, because posting bond is nonrefundable. At least bail money can be applied to your fines. Then you’ll have to get your car out of impound. Cash. Attorney fees will run you between $5,000 and $10,000. Then there are state surcharges (yeah, good luck getting out of these) in the range of $1,500 from the State of Colorado — and that’s in addition to any fines you might be required to pay. Then (the list keeps going, doesn’t it?), you’re going to have to take some classes for a few months. More cash. Oh, and then there’s the in-house arrest period that you could be required to comply with, complete with ankle bracelet. To top it all off, you could be required to place an interlock device on your car. This means you get to pay to have a breathalyzer installed on your ignition and you have to blow to start your car and periodically while driving to continue operating your vehicle. You get to pay for this device yourself and pay the monthly fee for the privilege of having this device on your vehicle. This is all sounding super sexy, isn’t it?

For a full, unfiltered look at penalties and expectations if you’re pulled over, here’s a Colorado attorney with a solid list of realistic resources. Bottom line? We hope you have between $5,000-$12,000 lying around. How’s that walking or hotel thing looking now?

We just want you to be safe. $5,000 to $12,000 can go a long way. In Boulder, we have a higher cost of living so that money is pretty precious. So when you’re out and about — tonight or any night — just think about what a DUI or DWAI could cost you. The New Year is the time for things to go right and Boulder — well, Boulder isn’t that big at all, is it? Walk. Wait for a cab in the freezing cold. Tell a doorman, bartender, waitress (hell, tell anyone) that you need a cab and to please get one to you. Maybe you’ll wait an hour. But it sure beats waiting a year to drive your car and it’s definitely better than potentially killing someone because you “were okay to drive.”

Stay safe on New Year’s Eve, Boulder, and raise however many glasses you’d like — responsibly. Your community thanks you.

 

 

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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New Years, Moneypenny: The James Bond Ball at the Boulderado

December 30, 2013 by

New Years, Moneypenny: The James Bond Ball at the Boulderado

new years boulder

Well, that’s behind us. Christmas — we’ve all survived another year of family squabbles, food not turning out quite as we imagined, running short of one ingredient or another at the last minute, and tidings of comfort, joy, and please stop playing that music.

Your Boulder hopes you had a brilliant holiday season, no matter how you chose to celebrate. But on to more important (and apparently, covert) matters.

Years. New Years, that is.

If you’re looking to stay local this year and still live it up, The Boulderado is probably where you want to be. And while I know I’m crossing spy genres here, your mission (should you choose to accept it) is a New Years party where even the hipest of hipsters can get their swank on. It’s the James Bond Ball — and all of Boulder (and Denver) is invited.

New Years in Boulder is generally lacking for bigger, glossier parties. This year, why not blow 2013 out with a bang and hit a real party? Skip the rave at a cold warehouse where you’re only going to end up crying wearing someone else’s sweater after tripping on things that are less than legal. There are a few ways to enjoy the James Bond Ball, so here’s everything you need to know:

Music

Two live bands for the evening: Dressed in Black and The Fever.

Dinner

You can make an evening out of it with a six-course dinner. $140 per person for a community table and $175 per person for a private table. All dinner packages come with general admission to the Dance Party beginning at 8:30pm. To check out the menu for the evening (ummm, YUM), have a look here. Seatings for the community table are at 8:30pm and the private tables at 8pm. All dinner packages include a champagne toast at midnight.

If you want to book a dinner reservation, be sure to call (303) 440-2880. You canbuy tickets online for the Dance Party via Open Table (this link wasn’t working last we checked, but it said to check back — so…check back).

Dance Party

Get your best Bond and Bond Girl on and head to a rockin’ dance party at the most elegant destination in town. Tickets are $85 (inclusive of a 20% service charge) and include access to the dance party along with “Bond Bites” to keep your stomach from rebelling when you’ve had one too many shaken (not stirred) martinis. Per the Hotel Boulderado website, doors open at 8:30pm and the party runs until 1am — or until you stumble home to sleep it off.

Sleeping it Off

You could just stay at the Hotel Boulderado. They have an overnight package for $249 that includes a room, 2 tickets to the dance party, and valet parking. To purchase this package, call (303) 442-4344. Seems wise to sleep it off where you plan to party it up.

Whatever your plans for the New Year, we’re wishing all of Boulder a grand celebration in whatever style you choose. Stay safe, and as always, stay Boulder.

 

 

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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Shine on at Boulder’s Shine Restaurant & Gathering Place

December 24, 2013 by

Shine on at Boulder’s Shine Restaurant & Gathering Place

shine-logo3

Billed as more than just a restaurant, but also a community gathering place, Shinehas held true to the vision of the triplets that opened it just two years ago in the heart of downtown Boulder. The women had a prior hit in the Boulder restaurant scene when they ran Trilogy for many years, located just next door to Shine’s current location.

This space feels more grown up, with healthier food options, lots of potent elixirs and beer brewed in-house. In addition to the delicious food and drinks, there is free yoga night, music in the back room, and many opportunities to get involved in the Boulder scene.

Open for lunch and dinner daily, Shine also offers daily happy hours and brunch on the weekends. All their food is made with local organic products and the kitchen is completely gluten-free. With dishes like pulled pork, coconut curry, and cauliflower mashers, carnivores and vegetarians alike can find something to satisfy on Shine’s menu. And if you’re looking for beer, Shine has gluten-free varieties as well along with all the varieties of beer they brew directly on premises. The restaurant’s fantastic location near 13th and Pearl makes it an easy stop if you’re looking for a nosh downtown or need a place to get a drink before a show at theBoulder Theater.

The triplets have scored again with Shine’s ambiance. The restaurant exudes warmth from the minute you walk in. With large ceilings, an open dining room / bar combination and yellow walls featuring the mural of a large tree, there are many elements that contribute to that feeling. There’s a meeting space in the back of the restaurant and a sitting lounge in the middle with smaller tables for a bit more privacy.

From dance parties to open mics to trunk shows, Shine is intent on becoming a place where just about anything can happen in the back room. Boulder needs spaces like this so that the community can grow stronger and different people can have the opportunity to come together. Be sure to check out the calendar on Shine’s site or follow them on Twitter to find out more about the daily specials and what’s going down in their gathering space.

 

 

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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WHAT TO KNOW WHEN SELLING YOUR HOME

December 10, 2013 by

WHAT TO KNOW WHEN SELLING YOUR HOME

520_14th_st05

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Whether you are a first-time seller or a seasoned expert, selling your home can be a daunting task. Here are five tips to follow as you prepare to sell your home.

Get Your Home Inspected

When preparing to sell your home, getting a home inspection is important. Home inspections can uncover costly problems that may devalue your property, causing you to lose out on money. If you know about these problems before you sell, you won’t encounter any surprises during closing, and you can decide which repairs to make before putting your home on the market.

Upgrade

Nowadays, buyers want move-in-ready homes. Or they want as close to move-in-ready as they can get. Making a few upgrades before listing your home puts you ahead of the competition. So go ahead. Install hardwood floors or new carpet. Upgrade to stainless steel appliances or add some curb appeal to the outside. Buyers want upgrades, and they will be happy when they find them in your home.

Know the Market

When getting ready to sell your house, make sure you know the market. A licensed Realtor is your greatest tool in this case. He or she can research current market trends and comparably priced homes in the area, which helps you list your home at the correct price.

Price Your Home Fairly and Realistically

Once you have seen comparably priced homes in your area, you can decide on a list price. Be realistic when pricing your home. Don’t over-price your home, but don’t list it too low either.

Stage

Once your home is on the market, it is important to keep it looking presentable. Staging is a great way to help yourhome sell. You can hire a professional or do it yourself.

Have any tips for home sellers you would like to share? Leave me a comment.

Boulder Real Estate

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

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4 HOME PPROJECTS FOR BEATING CABIN FEVER

December 9, 2013 by

4 HOME PPROJECTS FOR BEATING CABIN FEVER

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 1. Install a programmable thermostat:

This task can be a bit daunting but will be worth the effort in the long run.  This device will help your heating system run more efficiently by automatically adjusting your home’s temperature. Using a programmable thermostat also reduces your energy bills by keeping your heating system from overworking itself unnecessarily.

 2. Replace interior doors:

Interior doors are often hollow and boring. Replace them with some more interesting pieces to add character to your home and keep yourself busy. This is a task that is relatively easy and inexpensive making it a great project to complete over the weekend.

 3. Replace lighting fixtures:

Install new ceiling fans to dramatically change the look of any space. Install or replace wall sconces in the halls. Make the switch to energy efficient light bulbs. Take a trip to your local hardware store and pick out some new fixtures. It’ll keep you busy and it’s fun! While you’re there, be sure to check out the Stylish LED tape lights options. They’ll add a modern and elegant touch to your lighting upgrades.

 4. De-clutter:

This is the least expensive and one of the most rewarding home improvements you can make. You can often make your home look like an entirely new space just by getting rid of clutter. Maximize storage in your smaller spaces with these tips. De-cluttering is also a great family activity. Rewarding them with a special dinner or game night after is a great way to make this task seem a lot less like a chore.

Be sure to check out our Tips and How To’s category for simple and budget friendly home improvements. RealtyTimes.com

John Marcotte

720-771-9401

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Where’s Santa? Places to Find Santa Around Boulder County

December 3, 2013 by

Where’s Santa? Places to Find Santa Around Boulder County

santa in boulder

The holiday season is upon us. Christmas lights are flooding the streets with every color imaginable and lawn decorations to boot. Of course, if you’re a parent, there’s one tradition you aren’t going to want to miss this year: the annual visit with Santa Claus.

In Boulder, there are several locations where you can take your kiddos to tell Santa exactly what they want for Christmas. Each location has a great theme and offers children something more than just a jolly man in a red suit.

Below are the places you can find Santa in Boulder for the next few weeks:

St. Nick on the Bricks – This Santa sighting takes place on the Pearl Street Mall at the visitor’s information center every Saturday until December 18th, from 11 am to 2 pm. The visit is free and they don’t offer photos, so be sure to bring your camera along with you to capture the moment.

Santa’s House – Hosted at the Pi Beta Phi sorority house at 890 11th Street, this weekend long event is more than just a quick visit with Santa. Kids can play carnival games and listens to stories told by Miss Ann Harding, a professional children’s entertainer. Both Santa and the missus will be there on December 7 and 8 from 10 am to 4 pm. Admission is $3 and the sorority is collecting donations for Community Food Share and Books for Children.

Miracle on 29th Street – Santa comes to the 29th Street Mall on Saturdays the 7th, 14th and 21st and kids visiting Santa here can also meet his reindeer and enjoy a horse-drawn carriage ride. The carriage rides are available from 5-8 pm and the reindeer are available for petting from 6-8 pm. Santa himself will be inside Macy’s.

Santa’s Holiday Home – Located in the Flatiron Crossing Mall, this location is a little ways out from Boulder proper, but still offers your children a great opportunity to visit Santa (and you can get some Santa shopping done at the same time). Plus, they have a unique, time-saving option: the Santa Fly By program, in which you can sign up for the virtual visit line via phone, text or web. You’ll get a wait time and then you can simply come back when it’s about your turn. Santa’s home is located between Helzberg Diamonds and Rocky Mountain Chocolate factory at the base of the grand staircase.

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

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Pending home sales hit 10-month low, services sector rebounds

November 28, 2013 by

Pending home sales hit 10-month low, services sector rebounds

Workers assemble Motorola phones at the Flextronics plant that will be building the new Motorola smart phone ''MotoX'' in Fort Worth, Texas September 10, 2013. REUTERS/Mike Stone

(Reuters) – Contracts to buy previously owned U.S. homes hit a 10-month low in October, but a strong rebound in services sector activity early this month suggested some resilience in the economy as the year winds down.

The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, slipped 0.6 percent to 102.1, the lowest level since December.

It was the fifth straight month of declines in contracts and suggested home resales could remain on the back foot for the rest of this year. These contracts become sales after a month or two. Home resales fell in October for a second straight month.

“The data suggest sluggish home sales going into the end of the year and that the tightening of financial conditions this summer did have a negative impact,” said Yelena Shulyatyeva, an economist at BNP Paribas in New York.

Economists, who had expected pending home sales to rise 1.3 percent in October, said the weak home sales trajectory could see the Federal Reserve sticking to its $85 billion monthly bond buying program at least until early next year.

The U.S. central bank has targeted housing as a channel to boost growth and speed up job creation.

The Realtors group said October’s 16-day partial shutdown of the federal government had sidelined potential buyers.

According to the NAR, a survey of realtors found 17 percent of respondents reported delays in signing contracts because they had to wait for the Internal Revenue Service to verify income before the mortgage could be approved.

The Realtors group expected a bounce back in contracts, but it cautioned that lack of inventory remained a constraint.

(Reporting by Lucia Mutikani Additional reporting by Ryan Vlastelica in New York; Editing by Andrea Ricci)

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

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