Longmont, CO Real Estate News

By Josh Hunter
(Longmont Real Estate)
Can you say "It's Getting Hot!!!!" Over the past few weeks we are starting to see our "Real Summer" with temps in the 90's and High 80's. Along with that there seems to be a lot more activity in the Real Estate Market as well, with many homes under the $200k price point "flying off the shelves" so to speak seeing multiple offers in very short time periods. This is really becoming a popular price range for both the first time buyers as well as the investors that were sitting on the sidelines for the past several months. Also, 100% financing.......it seems to be back for some. Certain town programs are still offering great down payment assistance as well as the USDA program offering 100% financing in rural areas! However, you may be surprised to see what all is considered "Rural"......you...
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Buying this house seems like a good idea but how do I do it? Having a successful and fun experience on your first purchase is what we strive for..... To help ensure a great transaction, here are a few steps that will help you along your way, or simply help you understand the process. 1)      Find Your Realtor! I use the term Realtor and not Real Estate Agent because as few know, they are not the same thing. Realtors, in order to use this designation must meet a certain level of criteria and are held to a higher code of ethics. More on What is a Realtor?  When choosing a broker I would look at two things, referrals from those you trust (friends/family) and of course the most common way is to hit the internet. Nowadays you can find a wealth of information on companies and people like neve...
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By Josh Hunter
(Longmont Real Estate)
Few great things happening this weekend in Longmont! Join us! First things first, tonight ShBang will be playing from 6:30-8pm at the Roosevelt Park Pavilion. This is part of the towns "Summer Concert Series". Bring a lawn chair and relax, meet with friends, hang out with family, meet new friends and enjoy great music on a nice summer evening. Thursday dont miss the Callahan House tour as previously mentioned. Friday Night bring the whole family out for another "Second Friday". There will be art openings, live entertainment and retail open houses. These sure are a good time. Saturday at 10am is the 79th Annual "Pet and Doll Parade" down Main Street! Starting at Roosevelt Park, this great Longmont tradition also features a costume contest that is open to all. Finally, Sunday feel free to...
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By Josh Hunter
(Longmont Real Estate)
Tour the Historic Callahan House in June! Between June and August of 2009, you are invited to take a tour and learn about the history of the Callahan House in West Side Old Town Longmont located at 312 Terry St. Tour dates & times: June 11th, 10:00 a.m. - 2:00 p.m. July 9th, 4:00 p.m. - 7:00 p.m. August 13th, 10:00 a.m. - 2:00 p.m. For more information, you may contact the Callahan House at 303-776-5191 This classic Victorian home was given to the City of Longmont in 1938 and is a great place for special events. The beautiful yard and garden features statues, a fountain, large shade trees and many varieties of flowers. Great spot for a picnic on the above days! Enjoy!
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By Josh Hunter
(Longmont Real Estate)
Most of the cities home prices fall. In an article this morning in the Times Call, Longmont Board of Realtors President as well as the County Assessor commented on Longmont and surrounding areas home prices. Looking at the data it was clear that although Boulder Counties property values decreased, Boulder itself as well as many other towns saw positive growth. Longmonts higher foreclosure rate played a good part in the average price drops. LBR President stated Longmont's regional housing market includes southern Larimer and southwest Weld counties, as well as Boulder County, and that housing values in Longmont are influenced by what's happening in all three of those counties. See the map below, Longmont has seen diverse change from neighborhood to neighborhood and it is particularly int...
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By Josh Hunter
(Longmont Real Estate)
On the second Friday evening of every month, Downtown Longmont comes together for art openings, live entertainment and retailer open houses. Come Downtown from 6 to 9 p.m. to join the fun. These events are a lot of fun and it is always great to get out, meet your neighbors and enjoy some local food and entertainment. Schedules and hosts may change so please visit the LDDA website at http://downtownlongmont.com/index.php/site/2ndfridays/   For a flyer of the event please click here!
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By Josh Hunter
(Longmont Real Estate)
What do you want to do this weekend? This summer be sure and stay tuned as I will update activities that will be happening in and around the Old Town and Downtown Areas. Summer Convert Series Starts in June! Save the Dates:June 25, July 9, 16, 23, 30 and August 13, 2009 The LDDA and the City of Longmont Recreation Services will be hosting a six week summer concert series in downtown Longmont.The event will run from 5:30-8:30pm with music being played from 6-8pmThe concerts will be performed on 4th avenue between Main and Kimbark Streets.The concerts are free yet food, beverages and alcohol will be sold on site.Please see the dates below for performer information: June 25 - Delta SonicsJuly 9 - 8TracJuly 16 - AtollJuly 23 - Beloved InvadersJuly 30 - Chris DanielsAugust 13 - Hazel Miller ...
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By Josh Hunter
(Longmont Real Estate)
Drip Drip Drop Little April Shower! What a great state we live in huh? See well over 300 days of sun a year, ridiculous several feet high blizzards, record breaking high temps, ice fishing and water skiing! All within 3-4 months of each other! Well once again mother nature kissed us with 2 days of rainy Seattle Style storms, cold weather, and slush. Monday-Saturday? High 70's and low 80's full of sun. The grass and flowers on your listings will hopefully look great now! Have fun enjoying this great state!  
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The following information was taken from the Denver Business Journal and CAR Homepage and is being used in this blog for information disbursement only. I am not representing this as my own writing.   The Colorado Housing and Finance Authority and U.S. Rep. Ed Perlmutter Tuesday announced "CHFA JumpStart," a program under the federal stimulus package to offer a tax credit to first-time homebuyers. The credit of up to $8,000 -- authorized under the American Recovery and Reinvestment Act -- would go to qualifying first-time homebuyers who purchase and close on a home between Jan. 1 and Dec. 1, 2009.   "Through the CHFA JumpStart program, we are bringing the benefits of the economic stimulus plan to Colorado," Perlmutter, D-Golden, said in a statement Tuesday. "First-time homebuyers will be...
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By Josh Hunter
(Longmont Real Estate)
 One of our managing brokers just did an interview with Denver's Channel 7 news about the use of twitter and other social networking sites. I found it very interesting how creative some business's are getting. Realtors all know it is a great way to spread the word about a new listing, and open house, and even a killer price reduction. But interestingly enough you can even get notified when your local bakery "just took your favorite treat out of the oven!" Social networking has come a HUGE way in the professional world, but we are still in the beginning stages of where technology will not only take our business, but business in general.   Here is a link to the article if interested! http://www.thedenverchannel.com/news/19194223/detail.html  
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The 2009 Guide to Colorado Real Estate Investing The first of several new books to be published, this book focuses on the basics of Colorado Real Estate Investing. But don't take "basics" to literally, it provides much detail into many subjects. The authors Lon Welsh, Charles Roberts, Michael Cannon and Mike Welk put some great detail into this. Taken from the introduction "There's no shortage off RE Investing books on the market. Most of them do a good job on the "academic" perspective of how to invest, but they don't get their hands dirty and tell you the specifics of how to do it, and how to do it successfully. They miss the common traps many investors fall into. They also tell you what you WANT to hear instead of what you NEED to know." This book will be great for Consumers, Newer I...
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By Josh Hunter
(Longmont Real Estate)
Incase you happen to have the day off and are just getting up...... High 60's to almost a foot of snow! I love this place! Longmont so far has received over 9 inches of snow according to the Times Call. Snow plows are busy clearing the streets and the forecast? More Snow! The snow started at about 4am and turned into quite a snowfall shortly after. At some times in the mid to late morning visibility was very low, concentrating on the car in front of you was a challenge! Currently only major roads are getting plowed, if the snowfall exceeds 15 inches crews will begin to plow residential streets. Since more snow is expected, the city recommends waiting until the snow stops before clearing snow from driveways and sidewalks. Of course, this is up to you....(I have already done mine twice) I...
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CROCS! Well if you like them, come and get them. Appearantly in Longmont at the Crocs Warehouse which is located on the NE corner of Nelson Rd and Sunset Ave, they are having a blowout sale Thurs-Sun. At the time their website only had info on the California sale. My guess would be that much of everything is at least 50% off? I heard shoes from $5-$15 May have something to do with the recent newspaper articles? I took this picture at about 2pm today, line was moving fairly quickly and the sale is said to go until Sunday. I would park in the lot across from the Flower Bin on Nelson Rd. Enjoy!
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Old Town Longmont! What a beautiful place, with tree lined streets, turn of century homes, large parks and wildlife, fantastic community atmosphere, rich history and of course shopping and food! In the summer Old Town Longmont is a very popular place. Much of the parks are host to many events great for the whole family! Fourth of July celebrations, Oktoberfest, Concerts, Small Business Functions, Parades, the Legendary "Art Walk", Bicycle Rides sponsored by local bike shops and late summer evening BBQ's with friends! Downtown Longmont, within walking distance from both Eastside and Westside Old Town is a great place to dine, shop and play! Whether you are looking for a family friendly activity, business meeting, or just a night on the town you will not have a hard time finding a great p...
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By Stuart Dobson
(eLoanRates.org)
70,000 Commercial Square feet leased in Longmont, COCreative Foam, a designer and manufacturer of foams and plastics for the automotive, medical, and composite markets, announced in January 2009 that it is leasing 70,000 square feet in Longmont, Colorado. The Michigan-based company is expanding in Colorado to service Danish wind turbine manufacturer Vestas Wind Systems, which opened its first North American manufacturing facility in Windsor in 2008 and is further expanding in the state with other facilities planned in Brighton and Pueblo.  Recently with the economic malaise in the country, even Vestas announced a temporary hiring freeze but hopefully this will not last long.  It's definately good to see new industry moving into Colorado, and the Longmont area is a great place to live in...
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By Josh Hunter
(Longmont Real Estate)
Attention Agents and Investors! I wanted to get some feedback on what you are experiencing in terms of DOM and Incentives offered (reduced rent, reduced deposits, free half month's etc) in your investments and those of your clients. I am pending a write up and would like some more "local" information from others. I have several 2/2 and 3/2 properties that are experiencing "about" 30 days or so longer vacancy periods and a small reduction in rent from previous years. Rent reductions are not drastic but effect bottom line. $1350-$1300, $1050-$975, $2300-$2100 and so on. Our feedback from other cities has been that many landlords with tenants that are at least paying on time is that they are offering them a small incentive to stay and re lease to avoid a potentially larger cash flow loss a...
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By Lori Erickson
(Your Castle Real Estate)
Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Longmont area in Denver.   What this investment is:  Purchasing a small home in an expensive neighborhood that may or may not need work.  The home is bulldozed and a new home or duplex is put on the lot.  Alternatively, the existing home is renovated and more square footage is added on.  A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).   Equity needed:  Being able to document your income and your assets will be critical.  For a commercial loan, your net worth should generally be at least as much as the loan you are seeking.  The good news is that the commerc...
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By Lori Erickson
(Your Castle Real Estate)
Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Longmont area in Denver.   What this investment is:  A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium.  Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area.  Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes.  Ideally suited for the sophisticated investor with extensive experience.    Equity needed:  Being able to document your income and your assets will be critical....
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By Lori Erickson
(Your Castle Real Estate)
Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Longmont area in Denver.   What this investment is:  Purchasing a home that needs work.  The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over.  Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible.  Great for beginners with the right skill sets or the willingness to learn.   Equity needed:  With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too.  Expect a LOT of strings to be attached.  A small local lender might give you 75% of the purchase price and the renovation b...
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By Lori Erickson
(Your Castle Real Estate)
Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Longmont area in Denver.                        What this investment is:  A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant.  The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame.  Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease.  If you purchase the property, then it's an easier process; if you find a highly motivated seller to ...
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