Archive for April, 2011
Throughout the 7 county Denver metro area, the tax assessors will be sending out the latest valuations, and good news for most homeowners, is that property values should be lower. But we all knew that. Now the government will be telling us by just how much.
What is even better is that if you still disagree with the value; that it is still too high, you have about a month to challenge the new value.
Please keep in mind the value is for a 18-24 month period before June 30, 2010, NOT the value TODAY. So they are still lagging.
We also have a great 2 page how to on “HOW TO CHALLENGE YOUR TAX ASSESSMENT”, on our website, and you can click how to challenge your tax assessment for a quick read thru on what you would need to do to challenge your value.
After reading that and you still have questions, we can be reached at 303-888-2488, or emailing at email@example.com. We have in the past helped several homeowners lower their assessed values by up to $90,000, can we help you?
The tours don’t begin until May 5, to see the HGTV 2011 Green House in Stapleton, but we do have a link for you to see some of the rooms that they have designed.
Of course you can always try and win the home through their sweepstakes, by clicking on Win a HGTV 2011 Green Home sweepstakes.
For guidance, and buyer broker real estate representation on any new home, email me at firstname.lastname@example.org, or call me on my cell at 303-888-2488.
HGTV’s Green Home 2011 in Stapleton will have tours from May 5th to July 3rd, but you must have a ticket, and they cost $20 each. Space is limited, so purchase your tickets early.
The hours of tours will be Thurs. to Sat. from 10am to 6pm, and Sunday’s from Noon to 5pm, and will start at the Stapleton Discovery Center at 7706 Martin Luther King Blvd, not at the home itself.
For info, you can call 1/855/GO4-TOUR, or Reserve Your HGTV 2011 Green Home Tickets.
To discuss any aspects of new homes, and or the Green home, email me at email@example.com.
The latest MLS sales highlights have been released for Highlands Ranch and in the residential market, there is a slight decrease in average price sold, and a 12% increase in Condo sales, year over year.
Others items to note:
Average days on the market for residential is about the same at 104 days
# of Active residential listings is down to 566, a 15% drop from last March
Average Days on Market for Condos is about the same at 115 days
Average price sold for condos is at about $211,094, and is at $335,727 for residential homes
See all the data and a graph at MLS Real Estate Market Statistics for Highlands Ranch, March 2011
To discuss your individual homes value, email me at firstname.lastname@example.org, or call 303-888-2488.
What a Government Shutdown Means for Highlands Ranch real estate.
(April 5, 2011)
The current continuing resolution (CR) providing funding for government operations is set to expire on April 8, 2011. This is not the first, probably one of 30 over the last 35 years. If legislation providing for funding is not signed into law to extend funding after April 8, the federal government could shut down. This means many, but not all, government programs, including some that impact federal housing and mortgage programs, could grind to a halt as early as April 9, 2011. While the true impact of a shutdown is unclear until it actually begins below is a synopsis of how federal housing programs will likely operate in the event of a shutdown. The Office of Management and Budget (OMB) requires each agency to have contingency plans in place and reportedly has instructed agencies to not provide specific information on impacted operations.
Federal Housing Administration
FHA cannot offer endorsements for any new loans in the Single Family Program and cannot make commitments in the Multi-family Program in the event of a shutdown. FHA will maintain operational activities including paying claims and collecting premiums. Management & Marketing (M&M) Contractors managing the REO portfolio can continue to operate.
VA Loan Guaranty Program
Lenders may continue to process and guaranty mortgages through the Loan Guaranty program in the event of a government shutdown.
Internal Revenue Service (IRS)
Should the federal government shut down, the IRS cannot process federal income tax returns or issue refunds (but it can deposit tax payments). Consumers who were expecting to use their tax returns as part of the down payment for a home purchase will temporarily not have access to these refunds.
The Federal Emergency Management Agency (FEMA) confirmed that the National Flood Insurance Program (NFIP) will not be impacted by a government shutdown.
Government Sponsored Enterprises
Fannie Mae and Freddie Mac will continue operating normally, as will their regulator, the Federal Housing Finance Agency.
No official word as of yet, but the Making Home Affordable program, including HAMP and HAFA, may not be affected as the program is funded through the Emergency Economic Stabilization Act which is mandatory spending not discretionary.
Background Information on Government Shutdown
HJ Res. 48 extends the Continuing Appropriations Act, 2011 (Public Law 112-6) to April 8, 2011. If another continuing resolution (CR) or budget is not signed into law, the federal government could shut down on April 9, 2011. This requires the furlough of non-emergency personnel and the curtailment of federal agency activities. Federal contractors cannot be paid. Programs funded by annual appropriations are directly impacted though programs funded by laws other than appropriations (such as Social Security) may also be impacted. The last government shutdown occurred during fiscal year (FY) 1996 and lasted 21 days, from December 16, 1995 through January 6, 1996.
The Anti-Deficiency Act is the primary law preventing government activity when no budget or CR is enacted. The act, found in 31 U.S.C., prohibits:
- Making or authorizing an expenditure from, or creating or authorizing an obligation under, any appropriation or fund in excess of the amount available in the appropriation or fund unless authorized by law.
- Involving the government in any obligation to pay money before funds have been appropriated, unless otherwise allowed by law.
- Accepting voluntary services for the United States, or employing personal services not authorized by law, except in cases of emergency involving the safety of human life or the protection of property.
- Making obligations or expenditures in excess of an apportionment or reapportionment, or in excess of the amount permitted by agency regulations
Basically, the government may not make payments or commitments unless there is enough money in the bank. According to the US Office of Personnel Management, an agency must shut down activities not excepted by the US Office of Management and Budget (OMB) when it no longer has the funds to operate. OPM recommends that agencies:
- communicate with employees and representatives about a potential shutdown;
- prepare draft furlough notices;
- determine which positions are excepted from the furlough according to OMB guidance.
Federal agencies have been required to complete contingency plans since 1980. OMB has three different bulletins that agencies may reference in the development of their shutdown plans. Plans must include, among other things, estimated time to complete a shutdown and the number of employees to be excepted. The President, Members of Congress, presidential appointees, certain legislative branch employees, and federal excepted employees are not subject to the furlough, but who will collect a paycheck during this period of the recovery?
To discuss more about the government and new loans, call me at 303-888-2488, or email me at email@example.com.
3400 acre Sterling Ranch in Douglas County, up for County Commissioners hearings starting April 12th
I wanted to touch base with all of you regarding Sterling Ranch, a promising new development in Northern Douglas County, located between Santa Fe and Rampart Range Road in the Roxborough area, and south of Titan Road. The owners of Sterling Ranch are Harold and Diane Smethills and Jack Hoagland, all Colorado natives.
Sterling Ranch will be a 21st century, innovative new home development as well as a pilot test site for the use of renewable water, ie: using rain water retention ponds as a means of irrigation, keep in mind water, water, water (unlike location, location, location). In addition to the innovative new water technologies, the Sterling Ranch team has secured enough renewable water to get the project going and to share with existing neighbors who are seeing their wells run dry. The entire build-out will take 15 to 20 years with approximately 12,000 homes. Titan Road will be rebuilt to resemble the streets in downtown Littleton. A 100 acre sports village, complete with soccer fields and baseball diamonds (Colorado Rush and Slammers Headquarters) will be constructed along with a medical facility (major announcement to be made shortly), an adult education facility, and ultimately a new high school and junior high school.
Throughout the 3,400 acre development will be over 30 miles of separate walking, biking and equestrian trails. The developers of Sterling Ranch have paid close attention to the changing demographics of our population. There will be six villages, each consisting of homes designed to meet the current trends at the time of construction along with their own individual “town centers”, all designed to bring families and neighborhoods together with a quick walk to the local coffee shop. As many families return to the multi-generational life style we will see various styles of homes to accommodate these changing trends.
There are 4 major builders already in conversation with the developers.
This is a project that has been 10 years in the making. On April 12th, 13th , 19th and 26th the developers, along with countless supporters and expert witnesses will testify in front of the Douglas County Commissioners.
Water will be key in the discussions, as the developers say they have enough, and the public questions the data. Keep in mind the area has some dry wells to the north of Titan Road.
For further information, or if you want to discuss Sterling Ranch, call me at 303-888-2488, or email me at firstname.lastname@example.org