Avista Hospital Louisville

I apologize for not posting the past few days. My wife had a baby girl on Wednesday late afternoon. Everything turned out fine. Mom and Daughter are home now.

Our experience at Avista for our baby was excellent. I was very impressed with the care we received, the facilities and even the food was great. Our Doctor (OBGYN) was fantastic, Dr. Bissell from Woman to Woman Healthcare. And all of the nurses at the hospital did a great job.

We had our first daughter at the old Boulder Community hospital and liked our experience much more at Avista.

Existing-Home Sales Ease In May

WASHINGTON (June 27, 2006) – Sales of existing homes experienced a minor decline in May with home prices rising near normal rates, according to the National Association of Realtors®.Total existing-home sales – including single-family, townhomes, condominiums and co-ops – eased 1.2 percent to a seasonally adjusted annual rate of 6.67 million units in May from a pace of 6.75 million in April, and were 6.6 percent below the 7.14 million-unit level in May 2005.

David Lereah, NAR’s chief economist, said conditions are mixed around the country. “There’s now a clear pattern of slower home-sales activity in many higher cost markets, which are more sensitive to rises in interest rates, and higher home sales in moderately priced areas which have experienced job growth,” he said. “Although mortgage interest rates remain historically low, the uptrend in interest rates this year is affecting those buyers who are at the margins of affordability.”According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.60 percent in May, up from 6.51 percent in April; the rate was 5.72 percent in May 2005.

The national median existing-home price for all housing types was $230,000 in May, up 6.0 percent from May 2005 when the median was $217,000. The median is a typical market price where half of the homes sold for more and half sold for less. “Overall price appreciation has returned to normal levels as the supply of homes on the market has risen to a balanced range,” Lereah said.Total housing inventory levels rose 5.5 percent at the end of May to 3.60 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace.

NAR President Thomas M. Stevens from Vienna, Va., said it’s important to keep the current market in perspective. “We didn’t break the 6-million sales barrier until 2003, so the current level of home sales is still pretty healthy by historic standards,” said Stevens, senior vice president of NRT Inc. “Housing is continuing to support the overall economy by providing a sound foundation for other sectors to grow – the normalization that is taking place in the housing market is good for the long-term health of the industry.”

Existing condominium and cooperative housing sales rose 1.9 percent to a seasonally adjusted annual rate of 852,000 units in May from a pace of 836,000 in April, but were 6.6 percent below the 912,000-unit pace in May 2005. The median existing condo price3 was $229,300 in May, up 1.9 percent from a year earlier.Single-family home sales slipped 1.5 percent to a seasonally adjusted annual rate of 5.82 million in May from 5.91 million in April, and were 6.6 percent below the 6.23 million-unit level in May 2005.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Harper Lake Louisville

Harper Lake is located on top of McCaslin Blvd. in Louisville. One of my favorite spots to go for a walk. Mountains in background are Boulder Flatirons to the left and Indian Peaks to the right.

Olde Philly Towne Restaurant Broomfield

Nice little place to have lunch. It's not authentic philly cheese steaks like Geno's or Pat's but it's not terrible either. For Colorado, I recommend it. Good cheese steaks, burgers and authentic hoagies.

Located in Broomfield at the intersection of Sheridan and 120th.

Olde Philly Towne Hoagie & Steaks
(303) 469-19775
129 W 120th Ave
Broomfield, CO 80020

Interest Rate Update provided by Grant Hickman, Premier Mortgage

Mortgage rates continued their climb this week on more inflationary economic data. This morning’s Durable Goods report had a mixed bag, but in general interest rates are reacting negatively. The Durable Goods Orders report shows purchases on order of "durable" or long lasting goods for business and personal use, such as televisions, copy machines and manufacturing equipment. The numbers showed a greater than expected overall decline of 0.3%, but economists were looking for a +0.4% gain. A large 17.9% drop in orders for civilian aircraft was one of the leading causes of the lower number, and when excluding transportation orders, new Durable Goods Orders actually rose 0.7%. But April’s Durable Goods Orders were revised lower, to a greater -4.7% decline from the -4.4% previously reported. So the end result is that business and personal investment remains fairly healthy, even in light of continuing higher borrowing rates.

No news that the FOMC meeting is next Thursday and 25 BP increase in the FF rate is a given (forget any talk about 50 BPs); in the meantime Monday has May new home sales and Tuesday May existing home sales---critical data for the equity and bond markets. Early estimates are for new home sales to have declined 4.0% and existing sales -2.0%.

Current rate for a 30 year fixed loan is 6.875% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 15 year fixed loan is 6.50% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 5 year ARM is 6.875% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Posting info and rates provided by:
Grant Hickman
Senior Loan Officer
Premier Mortgage Group, LLC
1844 Folsom Street Boulder, CO 80302
303-449-8855
ghickman@pmglending.com

Calmante Rock Creek Superior

This is a new Townhome community in the process of being built right now. I drove out there this morning--they are busy moving dirt and digging.

They officially open the sales office this coming weekend.

Luxury Townhomes , semi-custom. Prices start in the low $500's. Based on the brochures, it looks like they will have a nice finish on the inside. Sizes range in the 3,500 to 4,000+ square feet--pretty big. My first thought is wow at the prices. That is pretty steep for townhomes. Location is OK, at the corner of McCaslin and Coalton. McCaslin there is pretty busy. Those prices are higher than a lot of the houses in Rock Creek. But, the new construction aspect will be
a selling point for a lot of Buyers.

I hope the builder does a good job with them. The townhomes at the Summitt at Rock Creek had a lawsuit from the HOA against the builder for poor construction issues--it was settled last year for approximately $25M, the builder was DR Horton.

I took the pics this morning.

Home Staging

I came across this article recently and found it very interesting--in today's Buyer's Market Seller's need any advantage they can get----here's the article. Credit and link on the bottom.

Gary Streepy, a restaurant owner in a former life, calls himself "the house whisperer" these days. He goes into houses that are for sale and suggests changes, from removing all the magnets on the fridge to clearing out some of the furniture, so that the houses sell more quickly. It's a practice -- more common in bigger cities -- called home staging.

"The buyer is buying your house and not your possessions," said Streepy, who has started a Wichita business called Three Pea Home Staging and Design. "I make the house look bigger, less cluttered."

Home stagers give aggressive advice to help people sell their homes. They may suggest new paint colors, how to rearrange furniture, what to take off walls and shelves. If needed, they'll even loan or rent furniture and accessories to dress up a place.

Real estate agents usually offer basic advice on how to prepare a home for the market, but home stagers may be specially accredited. Some real estate agents offer the service for free to clients, while full-time home stagers can charge from a couple of hundred dollars to several thousand. "It just helps set the houses apart from other houses when you're selling it," said Wichita real estate agent Alissa Unruh, who stages all of her houses.

"Buyers like to buy homes that are well decorated.... It's an emotional thing. It feels nice." When Unruh became the agent for a 7,500-square-foot Tudor house that was worth a half a million dollars, it had been on the market for 1 ½ years and had been put up for auction -- all while empty of furniture and all without selling. She called in Sharry Crowe of Wichita to stage the house. Crowe is a real estate agent with RE/MAX who has been accredited as a home stager. She filled the house with rented furniture and a variety of accessories, and the house was under contract the next week. "I've had several of my own listings that have sold to the first person in the door, so I'm convinced it works," Crowe said.

Crowe took three days of training from a business based in California called Staged Homes. Before she had the training, she tried to stage the houses she was selling, but "I didn't understand how to get people's eyes to move, the tricks of the trade," she said. Once a person decides to put his house on the market, Crowe said, "it's no longer your home. Then things change. Your favorite place to have the recliner to watch TV may block us. It may not let us see your beautiful pool in the back."

When Streepy is staging a kitchen, he wants countertops as bare as possible. The toaster can go in a cabinet. He'll allow a coffeemaker to stay out but would prefer it be put away, too. He said one client had a small television set in her kitchen that she would take with her in the car whenever there was a showing of her house. Little things make a big difference, Streepy said. "Taking the clutter off the refrigerator makes an unbelievable, unbelievable difference." He said one man was out of town when a staging was done, and when he returned, "he couldn't even believe it was his house."

There is "staging to sell" and there is also "staging to live," Crowe said. The latter can be done for people who intend to stay in their house but want a fresh view. In that case, she takes into account how they live when rearranging the house.

Streepy has started a derivative of home staging called "stick staging" that involves full-size templates of furniture that can be laid out in various ways in an empty house. He's sold one set to an apartment complex. "I build them in my garage -- hot-glue and stain them," he said. Crowe said the downside of home staging is the inventory she's accumulated of accessories needed in the process.

"I probably have for every home bought something," Crowe said. She might see a need for something like "a tall, skinny floor lamp in that back corner." "It stays in my inventory." Unruh, who works for J.P. Weigand, said she has learned some staging techniques from Crowe and now stages all her own houses, calling Crowe in for big projects.

Unruh, Crowe and Streepy all said they enjoyed the creative aspect of home staging. "The real staging is taking what people own and making a better presentation. I love doing that," Streepy said. His background is on the commercial side -- he started out doing plant layout for General Motors, then restaurant design for Pizza Hut, then designed the layouts for all of his own restaurants. He's a former owner in Heroes Sports Bar & Grille and also owned Pasta Mill and Zoom Sports Grill. "Staging is so much like getting your restaurant ready every day," he said. "How is the customer going to see my place every day? How is a buyer going to see the house?"

Despite the enthusiasm of the home stagers, many houses on the market in Wichita are not staged. "I think from the perspective of a real estate agent it's easy not to do it," Unruh said. But she said there was one element a seller should concentrate on in addition to getting the price right.

"Buyers are very critical. Buyers have a lot of options and a lot of choices, so if you're going to compete, you'll want to get your house in perfect condition."

BY ANNIE CALOVICH
The Wichita Eagle
http://www.kansas.com/mld/kansas/living/14291636.htm

Chautauqua Park Boulder

One of the most popular and most photographed spots in Boulder. Go west on Baseline to the top and on the left you will see the turn off for Chautauqua Park. In the summertime it's a great place to hang out and the hiking there is great.

Here's a quick history--

On July 4, 1898, over 4,000 people gathered for the opening day of the Colorado Chautauqua. Boulder civic leaders and Texas educators had joined together to create a cultural and educational summer retreat. Today, the Colorado Chautauqua is one of three remaining Chautauquas in the United States, and the only site west of the Mississippi River, in continuous operation, with its original structures intact.

Before radio and television, the Chautauqua Movement united millions in common cultural and educational experiences. Orators, performers, and educators traveled a national Chautauqua circuit of more than 12,000 sites bringing lectures, performances, concerts, classes, and exhibitions to thousands of people in small towns and cities. Theodore Roosevelt called Chautauquas, “the most American thing in America.”

Located at the base of Boulder’s Flatirons, Chautauqua Park is on the National Register of Historic Places and is a local landmark. The Colorado Chautauqua Association, a 501 (c) (3) organization, leases twenty-six acres of land from the City of Boulder, on which are situated:

The Auditorium (1898) included on the National Register of Historic Places. It has been voted one of the top ten places artists love to play because of its superior acoustics and intimate feel.

The Dining Hall (1898) is now open all year, offering excellent cuisine by Chef Bradford Heap as well as an increasing number of food-oriented programs.

The Academic Hall (1900) houses Chautauqua’s administrative offices and housed the first collegiate-level summer school in Colorado.

The Community House (1918) is a stunning example of Arts and Crafts architecture and has been winterized and renovated.

Here's the link for the historic info: http://www.chautauqua.com/

Took a couple of pics this morning--loading function is down on Blog site

http://photos1.blogger.com/blogger/7044/2899/1600/Chautauqua%20008.6.jpg

http://photos1.blogger.com/blogger/7044/2899/1600/Chautauqua%20010.7.jpg

Fix and Flips

I don't know about you but whenever I am channel surfing on TV I invariably end up on a channel about homes--you know the ones I am talking about--designer shows, landscape shows, house hunting shows, awesome home shows, and of course shows about flipping houses.

One item I always mention to people who are thinking about fixing up and flipping a house is that you have to buy into an area which has high demand for homes. For example, if you buy a run down home which needs some updating and you buy it in a neighborhood which has more homes for sale than Buyers than your return on investment will be affected negatively.

But, if you buy a run down home or older home which needs updating and fixing in a desirable area where there are more Buyers than homes for sale than your investment will be much better.

There would be nothing worse than buying a home, fixing it up which requires money, time and effort on your behalf and not being able to sell the home.

Areas around here where you see a lot of fix and flips are Old Town Louisville, South Boulder, Chautauqua in Boulder, North Boulder, Old Town Longmont, and Old Town Lafayette.

L' Atelier Restaurant Boulder

My wife and I went for dinner last night at L' Atelier. We had a great evening. Surprisingly, it was not busy at all. The service was outstanding--they prepared a dish for my wife off the menu and she really liked it.

Our salads, entree's and dessert were all excellent. I had a glass of wine and it was very nice.

I would highly recommend this restaurant--it's a great place for special occasions like anniversaries and birthdays. Prices are about $40-50 per person, it's located on Pearl Street east of the mall.

It was interesting that when we left we noticed Frasca's across the street was packed. So, I hope that L' Atelier will not be going out of business soon. If anyone has been to L' Atelier or Frasca's feel free to comment concering your experience there. We plan on going to Frasca's later this year.

How's the Market?

Here's a snapshot of Average Days on Market for homes in this general area-

Boulder 78 DOM
Louisville 93 DOM
Lafayette 103 DOM
Longmont 105 DOM
Erie 152 DOM
Broomfield 75 DOM

Dates are from 5-16-06 thru today, 6-15-06.

Another good snapshot of the market is the percentage of the sale price vs. the list price:

Boulder 97.84%
Louisville 98.00%
Lafayette 98.49%
Longmont 98.68%
Erie 96.64%
Broomfield 98.40%

Dates are from 5-01-06 thru today, 6-15-06. What this does not measure is the sale price vs. the original list price. Generally, Seller's are having to reduce their price if their house is not selling.

Re/Max all over the World

Just read the following in Re/Max Times--

There are 118,453 Re/Max Agents worldwide in 6,377 offices represented in 63 countries.

In the U.S. there are 90,118 Re/Max Agents in 4,018 offices.

Did you know that Re/Max started in Colorado? Dave and Gail Liniger founded Re/Max International in 1973 and the corporate headquarters are still in Denver.

Countries with Re/Max offices: Antiqua, Bahamas, Dominican Republic, Grenada, Jamaica, St. Kitts & Nevis, Anguilla, Aruba, Bonaire, Cayman Islands, Puerto Rico, St. Maarten/St. Martin, Turks & Caicos, U.S. Virgin Islands, Belize, Costa Rica, Guatemala, Honduras, Nicaragua, Panama, Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, England, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Northern Ireland, Norway, Portugal, Romania, Scotland, Slovakia, Spain, Sweden, Switzerland, Wales, Turkey, Cyprus, Lebanon, Qatar, Israel, Bahrain, United Arab Emirates, Saudi Arabia, Zambia, Botswana, Namibia, South Africa, Mauritius, Singapore, Guam, Australia, New Zealand, Canada, Mexico and United States.

Pretty interesting list. Most of Asia is open for Re/Max--I wonder how long it will take for Re/Max to break into China or India?

What is the value of my home? By Helen Wagner, State Farm Agent

Some of you may be asking yourself, “Does my insurance coverage fit my needs?” “Do I have enough coverage to replace my home in the event of a serious loss?” “What affects my premium?”

These questions create a need for you to regularly review your Homeowners Insurance and to consider other questions such as: “Have you recently remodeled or improved your home?” “Has the rate of inflation risen since your last appraisal?” “What influences the building construction costs in your area?”

As you consider these issues, it is important to understand that real estate values measure the market value or selling price for a home. For insurance purposes, it is important to estimate the current replacement cost which is the amount needed to hire a contractor to repair the damage or to rebuild the home to its pre-loss condition. Dwelling replacement costs used by insurance companies do not include the value of the land. Market conditions in your area may impact the amount it will cost to rebuild your home if you experience a loss.

Building contractors or professional replacement cost appraisers are a good source for obtaining an estimated replacement cost for your home. Estimates from these sources should reflect your home’s specific features and details. If you are unable to obtain a detailed estimate from these sources, I can help provide an estimate.

Once you know the estimated cost to replace your home, you can decide how much insurance coverage fits your needs. You should also consider other policy endorsements such as back up of sewer and drain coverage, or additional coverage for personal articles with high values such as jewelry, fine arts, and collectibles.

You may want to consider higher personal liability coverage or the need for Flood Insurance which is provided by a separate policy. In addition to the amount of coverage you decide to purchase, your premium is impacted by optional endorsements you select, your claim history, the amount of your deductible, company longevity and multiple policy discounts such as home/auto.

Finally, remember to periodically review your insurance coverages with your agent. That will ensure you have the coverage you need.

By: Helen Wagner
State Farm® agent
5360 Arapahoe Ave.
Boulder, CO 80303
303-442-7844
helen.wagner.jrn6@statefarm.com

Note from Mario: I have been with State Farm since I got my driver's license when I was 15. Their home insurance is top notch. When we had the terrible hailstorm in Louisville in August 2004, State Farm came thru for their customers and had new roofs installed. Helen Wager is my Insurance Agent and I refer her to all of my Buyer's who need insurance.

Home Buying Search and the Internet

Percent of Buyers who first found their home on Internet from 1997 to 2005.

1997--2%
1999--4%
2001--8%
2003--11%
2004--15%
2005--24%

Websites used such as realtor.com, realtor's websites, and mls websites.

But, the use of the internet has not diminished the role of the Realtor in the home buying process. Homebuyers who used the internet to search for a home are much more likely to use a Realtor when purchasing a home. Four out of five homebuyers who the used the web in their home search purchased a home having a Realtor represent them. 11% bought directly from a builder or builder's agent with representation from a Realtor.

Information taken from "The 2005 National Association of Realtors Profile of Home Buyers and Sellers."

For me as a Realtor, the web is a great resource for my clients. It's a great way for people to feel like they are a part of the process rather than waiting for listings from their Realtor like it was years ago.

Touch-a-Truck Louisville

The City of Louisville every year has a Touch-a-Truck event for kids. It's held in the parking lot of the Rec Center.

All kinds of trucks are there--Dump Trucks, Tractors, Double Decker Buses, Fire Trucks, Police Cars, Trash Trucks, Cement Mixers, Ice Cream Trucks and School Buses. Kids get to go inside the trucks, sit in the cabs of the 18 wheelers. It's lots of fun.

I took my daughter today and she had fun. She wouldn't sit in any of the trucks but enjoyed getting a lollipop. I enjoyed seeing people I know and getting a bag of homemade chocolate chip cookies.

Interest Rate Update provided by Grant Hickman, Premier Mortgage

It has been a quiet week for interest rates as markets did not have much new economic data to digest. Stock markets were mostly down on the week on expectations of slower global growth. The Dollar improved versus both the Yen and Euro after Fed Chairman Ben Bernanke commented that core inflation, excluding food and energy, is at the upper end of the Fed’s comfort level. This raised market expectations of another Fed rate hike at their June 29 meeting. The European Central Bank raised its base lending rate by 25 basis points to 2.75%, the highest level in three years.

Next week will be interesting as the market will receive two reports on inflation. Look toward Tuesday’s Producer Price Index (PPI) and Retail Sales, Wednesday’s Consumer Price Index (CPI) and Thursday’s Industrial Production reports as potential market moving events.

Current rate for a 30 year fixed loan is 6.625% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 15 year fixed loan is 6.375% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 5 year ARM is 6.50% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Posting info and rates provided by:

Grant Hickman
Senior Loan Officer
Premier Mortgage Group, LLC
1844 Folsom Street
Boulder, CO 80302
303-449-8855
ghickman@pmglending.com

U.S. Population Movement

Which states are people moving to? Top 3 states with an increase in population from July 2000 to July 2004:

Florida +190,894
Arizona + 66,344
Nevada + 50,803

Which states are people moving away from? Top 3 states with the highest decrease in population from July 2000 to July 2004:

New York -182,886
California -99,039
Illinois -71,854

An interesting sidenote here--3 of the hottest real estate markets this decade so far have been Florida, Arizona and Nevada. All three of them are cooling off now.

How has Colorado done recently? From 1990 to 2000, Colorado averaged an increase of +43,518 annually. From 2000 to 2004, Colorado averaged an increase of +8,280 annually. For our real estate market to pick up steam again we need more people moving to our state which comes from job growth.

Information from U.S. Census Bureau http://www.census.gov/prod/2006pubs/p25-1135.pdf

Louisville Views

One of my favorite spots when driving around. This spot is just north of the intersection of Dillon Rd and 96th Street. It's so nice to see such an open area before the mountains. Not sure what is going to happen with this land--I think right now it's private property.

I took the pics this morning before going to the gym.

How's the Market?

Did a little research on the MLS today. I always think it's interesting to look at inventory availability for the cities in our area.

Boulder
127 homes priced under $500k (49 are under contract)
388 homes priced above $500k (76 are under contract)

Louisville
92 homes priced under $500k (32 are under contract)
24 homes priced above $500k (6 are under contract)

Lafayette
142 homes priced under $500k (22 are under contract)
87 homes priced above $500k (19 are under contract)

Superior
69 homes priced under $500k (19 are under contract)
39 homes priced above $500k (8 are under contract)

Broomfield
199 homes priced under $500k (22 are under contract)
60 homes priced above $500k (3 are under contract)

Longmont
806 homes priced under $500k (82 are under contract)
158 homes priced above $500k (12 are under contract)

Erie
199 homes priced under $500k (29 are under contract)
64 homes priced above $500k (6 are under contract)

Niwot
17 homes priced under $500k (4 are under contract)
71 homes priced above $500k (8 are under contract)

What jumps out at me? High priced homes are definitely taking longer to sell nowadays. Louisville and Superior have the tightest inventory now. Broomfield, Erie and especially Longmont have large inventories below $500k.

Note: Statistics are for houses only, does not include condo's or townhomes.

Juanitas Restaurant Boulder

I have lived in Boulder and Louisville since 1977. By far this is one of my favorite restaurants. For me, it's the best mexican food in Boulder.

Food is great, service is top notch and the chips and salsa are the best in this area. Salsa's got a good kick and the chips are cooked just right with not too much salt.

Margaritas are good--consistently they come in at #2 behind Rio Grande. And the prices on the entrees for dinner are very reasonable, a lot of dishes are priced in the $8 to $10 range. And for a mexican place they are vegie friendly so if you are a vegetarian you will be happy.

If you haven't gone, make sure to go soon. Located on Pearl Street in Boulder on the west end at 1043 Pearl Street. We went this past Saturday for dinner and I took the pic then.

Interest Rate Update provided by Grant Hickman, Premier Mortgage

Interest rates have improved slightly over last week mainly due to a weaker than expected May employment report. Friday, the Labor Department reported that non-farm payrolls increased by 75,000 during May on expectations that the economy added 170,000 new jobs. March and April non-farm payrolls were revised downward by a combined 37,000 jobs. Average Hourly Earnings increased 0.1% on expectations of 0.3%. Markets now think the Fed may leave short term rates unchanged at their June Meeting.

Other economic reports of note include the Chicago Purchasing Managers Index which was stronger than expected. First quarter productivity was revised upward to 3.7% from 3.2% and first quarter unit labor costs were lower to +1.6%. Year over year productivity increased 2.2% and year over year unit labor costs increased just 0.3% easing concerns of wage inflation. The ISM Manufacturing index was also weaker than expected.

Crude oil futures continue to trade over $70 per barrel. The Dollar is losing ground versus both the Yen and Euro on the increased probability the Fed may leave rates unchanged at their June meeting which will make the road to lower rates more difficult for bonds.

Next week look toward Friday’s trade deficit report as a potential market moving event.

Current rate for a 30 year fixed loan is 6.50% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 15 year fixed loan is 6.25% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Current rate for a 5 year ARM is 6.375% with no points based on a $250,000 Purchase Transaction; $187,500 Loan Amount; 10-20% Down.

Posting info and rates provided by:

Grant Hickman
Senior Loan Officer
Premier Mortgage Group, LLC
1844 Folsom Street
Boulder, CO 80302
303-449-8855
ghickman@pmglending.com

Rock Creek in Superior/Broomfield

This is a very popular neighborhood. A mix of homes, condo's, townhomes and apartments. Great location because it's close to many companies in Interlocken, Boulder, and Denver since it's so close to HWY 36.

Starter homes in this area are in the high $200's and go up to a $1M. Key issue here when buying a home is the expansive soils. There have been many issues with basement foundations heaving with the movement of concrete. Also, you will notice it on some of the homes which have significant heaving and cracking on the driveways and sidewalks.

The area is pretty much built out so property values have held very well here. Recently, a new construction project started for semi-custom homes located at McCaslin and Coalton on the west side of Superior.

Great services here with the Flatiron Crossing Mall so close, a big Safeway, Super Target, Costco and many other shops and restaurants close by.

I took the pics this morning.

Wood Shake/Shingle Roof

When going and viewing homes, I still see a number of homes which have wood shake/shingle roofs. These roofs were very popular in the mid 80's into the early 90's.

Areas I see them are Louisville, Superior, Broomfield, and Longmont. A lot of the roofs have been replaced over the years due to hailstorms. In 2004, Louisville had a tremendous hailstorm which resulted in a ton of new roofs throughout the city.

As you can see from the pics, this roof does not stand up to the test of time because of the intense sun we get here. The wood curls up, bends and loses it tightness.

Most insurance companies today will not provide full coverage for wood shake/shingle roofs.