The true potential of a real estate expert is surviving the real estate market and learning from each downswing and upswing. MSN article “4 lessons from a 97-year-old real-estate agent”, offers advice from a true real estate veteran; an expert with more than 7 decades in the industry.

 George W. Johnson, a Seattle based realtor saw first hand the boom after World War II, and survived the 1970’s downturn when Seattle’s largest employer Boeing laid off thousands of employees. The article goes on to quote Johnson saying “after every housing recession, the market has “gone higher than the one before.”

 MSN sat down with the George W. Johnson to ask his advice for potential homebuyers and real estate professionals.

Read “4 Lessons from a 97 year-old-real-estate agent”

Source: Daily Communicator

By: Alan J. Heavens, www.philly.com

On paper, it’s the chance of a lifetime — a golden opportunity not to be missed.

Mortgage interest rates are at their lowest since 1971 and home prices have reached their lowest point since 2002, says IHS Global Insight Inc. economist Patrick Newport, and appear to be stabilizing.

Veteran real estate agents are hard-pressed to remember a time when rock-bottom rates and affordable prices converged this way.  So where are all the buyers now that the tax credit is gone?

Reading headlines about the still-iffy economy and staying put, apparently.

Unemployment and lingering uncertainty about the future rank high on a long list of reasons the housing market is still all bound up.  Add folks’ inability to sell the homes they have so they can buy new ones, plus tight credit, low offers and too many people just out looking.

“Buyers are looking for the perfect wave,” said Art Herling, regional vice president at Long & Foster Real Estate Inc.

Seller Robin Lori wants that perfect wave to break at her spacious townhouse on Philadelphia’s Green Street, listed at $949,000.  The family has occupied this suburban-like space for just two years.  Ron Lori landed a good job in Chicago after more than a year out of work, and Robin and her two children who have “thrived on city life,” are following.

“We did have a private offer at the beginning of the year, and for seven weeks, we thought it was sold,” said Lori, filling another packing box.  But the buyers’ credit was not good enough for an affordable rate, the deal fell through and the couple lost two precious months before the house and its roof-deck view went on the market.

Last week, Herling said there had been an uptick in multiple offers on houses, and he said he thought sales contracts for June looked to be 4-7% above a lackluster May.

The post-tax-credit drop-off in sales concerns Moody’s Economy.com chief economist Mark Zandi though.  ”The severity of the decline is surprising, particularly given the rock-bottom mortgage rates,” he said.  ”The stock market correction, weakening confidence and the tough job market may be more of a weight on housing demand than I think.”

Gerald Pierri of Exton, Pa., sat down recently with his newly married son, crunching numbers to see if his son could afford a house in the Boston area, where he lives.  Needless to say, they were surprised by what they found.

Before the tax-credit cutoff on April 30, interest rates were about one percentage point higher.  Buy today, and the savings on a $250,000, 30-year fixed mortgage would be $54,993 over the life of the loan.  ”While most people are likely aware of lower rates, very few do the math to see what the savings represent,” said Pierri.

A May 2010 Prudential Fox & Roach survey of 690 buyers says people are, indeed, aware.  More than 78% of those surveyed said low mortgage rates contributed to the uptick in real estate sales before the tax credit expired.

Also a big factor, 68.3% said: lower prices.  So why are buyers having second thoughts?

“Uncertainty, of their future, of their job, of their relationships” — that is the reason he hears most often from wary buyers, said Realtor Mark Wade, who focuses on Philadelphia’s Center City neighborhood.  ”Many Center City buyers know that a wife or husband, kids and a minivan are in their future, but they are often unsure of when those life-altering events will occur,” said Wade, a Prudential Fox & Roach agent.  ”Each in and of itself can change one’s need for specific housing.”

Other reasons he hears are fear of change and unfamiliarity with the process.

Economist Joel L. Naroff points to a shortage of equity for down payments, given a decline in property values.  ”A logjam has formed since many people cannot buy a house until they sell their old one, and that cycle has to be broken by confidence in the economy and ability to sell homes,” Naroff said.  ”Right now, that doesn’t exist.”

Countered Noelle Barbone, manager of Weichert Realtors’ Media, Pa., office, who has been selling houses since 1969: “Sure, you might not sell your house for what you would have gotten a few years ago, but you won’t have to pay as much for a new one.”

“Everyone is afraid of buying a house only to watch its value erode in the first year or two,” said Bankrate.com columnist Holden Lewis.  ”Even if they plan to live in it for many years, people succumb to fear of short-term price depreciation.”

Jobs — or the lack of them — are making the difference, said Philadelphia mortgage broker Fred Glick.  Employment growth will come slowly “because there is no magic bullet for an economic shot in the arm, like the computer/Internet boom of the ’90s.”

As economist Kevin Gillen sees it, “The recession that started with the bursting of the housing bubble has come full circle.  Whereas housing led us into the recession, the recession is now leading housing.”

By: Alan J. Heavens, www.philly.com

Daring, eclectic and bold are all words to describe Colorado Homes and Lifestyles “2010 Home of the Year”. With elaborate decor, Colorado Home and Lifestyle sat down with the homeowners and designer of the historic Denver Home.

Read the Article Here

Realtors are constantly trying to determine the where the market trends are going to take them. An interesting survey completed by the U.S. Department of Housing and Urban Development (HUD), reviewed over 130 million residential units in the US. From everything from the number of units lacking carbon monoxide detectors to the amenties, this months survey reveals “a clear picture of American Home and its Occupants” (HUD.com).

Please feel free to comment or discuss this article with us!

HUD Releases Newest American Housing Survey

By: www.hud.gov

 Most families with young children live within a mile of a public elementary school.  The most common home heating fuel in the U.S. is gas.  Only a third of American homes have a working carbon monoxide detector.  These are just some of the findings of a comprehensive national sample of the more than 130 million residential housing units released earlier this month by the U.S. Department of Housing and Urban Development.

HUD’s 2009 American Housing Survey (AHS) is the most thorough look inside the homes of millions of Americans and reveals everything from the square footage of the unit to how many homes have front porches, garages or even usable fireplaces.  First conducted in 1973, the survey’s long-term design allows analysts to trace the characteristics of U.S. housing units and their occupants.  For example, the 2009 survey reveals that significantly more American homes are larger and have more bedrooms and bathrooms than homes 37 years ago.  In addition, homes of 1973 were significantly less likely to have central air conditioning and other amenities considered commonplace today.

“This important survey provides us a clear picture of the American home and its occupants,” said Dr. Raphael Bostic, HUD’s Assistant Secretary for Policy Development and Research.  ”The housing crisis makes clear the need for continued collection of high quality housing data to help us understand housing markets.  The numbers behind this survey not only provide valuable information on the composition of our housing stock, but they also help us monitor the mortgage markets, measure worst-case housing needs, and inform our policy choices.”

The 2009 AHS includes enhanced data for five metropolitan areas: Chicago, Detroit, Philadelphia, New York and Northern New Jersey.  For the first time ever, the AHS also includes data on disability status of household members.  The new AHS also includes two independent metropolitan surveys of New Orleans and Seattle.  Last conducted in 2004, the New Orleans survey in particular will provide an in-depth progress report of the redevelopment of the metro area following the hurricanes of 2005.

There are 130,112,000 residential housing units in the U.S.; 86 percent of these are occupied.  The median age of “the American home” is 36 years, though the survey finds that homes newly constructed since the 2007 AHS are generally larger, more expensive, have more bedrooms and bathrooms, and are more likely to include amenities such as central air conditioning.  Some of the other key findings of the 2009 AHS include: 68 percent of U.S. homes are owner-occupied; 51 percent are located in suburban areas; 29 percent in central cities; and 20 percent outside metropolitan areas; and 18 percent are located in the Northeast; 23 percent in the Midwest; 37 percent in the South; and 22 percent in the West.

Unit Size

³The median size of an occupied home is 1,800 square feet (compared to 1,610 in 1985, the earliest year this information was collected), with owner-occupied units being larger than renter-occupied ones.  Newer homes are also usually larger, with median size of 2,300 square feet.

³Median lot size for single-family homes, including mobile homes, is 0.27 acres (compared to .36 acres in 1973) with owner-occupied units generally having more land than renter-occupied ones.

Rooms

³Most homes (53 percent) have six or more rooms, with owner-occupied units generally having more rooms than renter-occupied ones.  In 1973, only 39 percent of homes had six or more rooms.  Newly constructed homes generally have more rooms — 65 percent have six or more rooms.

³Most homes have three or more bedrooms (64 percent compared to just 48 percent in 1973).  New homes generally have more bedrooms — 80 percent of them have three or more bedrooms.

³More than half of U.S. homes (51 percent) have two or more bathrooms compared to just 19 percent in 1973.  Again new units have more bathrooms, with 89 percent of them having two or more bathrooms.

Equipment

³All units have a refrigerator and kitchen sink and almost all homes (99 percent) have a cooking stove or range.  Overall 98 percent of units have a full kitchen.

³The most commonly used cooking fuel is electricity (60 percent) followed by piped gas (35 percent).  

³Two-thirds of the homes (66 percent) have a dishwasher, 51 percent have a disposal in the kitchen sink and three percent have a trash compactor.  New units are more likely to have these amenities.

³More than eight in ten homes have a washing machine (84 percent) and clothes dryer (81 percent).

³About two-thirds of U.S. homes (65 percent) have central air-conditioning and another 21 percent have window units — new units are more likely to have central air-conditioning (89 percent).  By contrast, only 17 percent of U.S. homes had central A/C in 1973 although 30 percent contained window units.

³About nine in 10 homes (93 percent) reported a smoke detector while 36 percent reported having a working carbon monoxide detector.

Heating

³About two-thirds of U.S. homes use warm-air furnace for heating; 12 percent use an electric heat pump; and 11 percent use steam or hot water system.

³The most commonly used home heating fuel is piped gas (51 percent) followed by electricity (34 percent), though new units are more likely to use electricity.

Plumbing

³Almost all units (99 percent) have complete plumbing facilities.

³The most commonly used fuel for heating water is piped gas followed by electricity.

³More than eight in ten units (88 percent) receive water from a public system or private company, and the remaining units received water from wells.

³More than nine in ten households rated their water as being safe.

³Eight in ten units use the public sewage disposal system and 20 percent use a septic tank, cesspool or chemical toilet.

Amenities

³Most homes have a telephone (98 percent), porch, deck, balcony or patio (85 percent) and a garage or carport (66 percent).

³About half (48 percent) have a separate dining room and three in ten units (30 percent) report two or more living rooms or recreation rooms.

³About one-third (35 percent) have a usable fireplace.

³New construction is more likely to have all these amenities.

Neighborhood

³95 percent of units are located close to a grocery or drug store, and 97 percent of residents with access were satisfied with the stores near them.

³Slightly more than half of U.S. homes (54 percent) are located near public transportation, with about seven in ten of the residents (71percent) living in these units saying that they live within a 10 minute walk to such transportation.  However, just 17 percent of households living near public transportation report using it for commuting or school.

³Most communities (90 percent) do not have secured entrances, though new construction is more likely to be in secured communities.  Residents, overall, were satisfied with police protection in their communities (91 percent).

³Most residents reported that their neighborhoods did not have vandalized buildings (88 percent), barred windows (84 percent), and trash, litter or junk (89 percent).  However, 40 percent of residents said that their streets needed repairs.

³Nearly half the households (45 percent) had access to community amenities such as a community center or clubhouse, trails, golf, daycare, shuttle bus or private beach or park area.

³Noise from traffic was a problem reported by almost one-quarter of residents (23 percent), though fewer resident of new construction found this to be a problem (15 percent).

³Six in ten households with children under the age of 14 years (60 percent) said that there was a public elementary school within one mile of their homes.

³Less than one in ten households with someone 55 years or older (7 percent) reported living in an age-restricted community.

By: www.hud.gov

Throughout my years in the mortgage industry, I have learned that when it comes to money, the smallest things make the greatest investments. An article written by Kathy Kristof at CBS Money Watch, reminded us that when it comes to  money, stick to logic. In an era where we have thousands of choice, many of us have forgotten to stick to basic instinct when it comes to money. Kristof highlights 8 mistakes people are making with their money. As you read the article feel free to share some ideas , or ask any questions.

Dumbest Things You Do with Your Money

By: Kathy Kristof, www.cbsmoneywatch.com

Brad Klontz knows all about the dumb things that smart people do with their money: He’s a smart guy (with a doctorate in psychology) who lost half of his assets in the technology stock bubble.

A financial psychologist, Klontz says that when it comes to money smarts, size matters: The logical part of your brain is so much smaller than the emotional side that it’s like “a circus performer riding an elephant.”  To make smart decisions about your finances, you need the logical side to dominate.  But once you get tweaked by greed or fear, that elephantine emotional brain is likely to run amok.

That’s why otherwise intelligent people chase get-rich fantasies.  Or cling to stocks that are long past their expiration dates.  Or find other ways to let fear and superstition keep them from smarter financial moves.  Here are eight of these common, emotionally driven money mistakes — plus some tricks from experts for getting that elephant in line.

1. Falling in Love … With Your Investments

It can be great to fall in love with a person, but stocks can get you into deep trouble.  Newport Beach, Calif., financial planner Laura Tarbox says she sees this all the time: Some clients keep concentrated stock holdings because they inherited them and “Mom just loved IBM,” or because they work for the company and feel that selling would be disloyal.

Then there’s the couple who came to her asking for help investing $12 million.  ”That sounded really great until we found out that this couple used to have more than $1 billion,” Tarbox says.  ”All their money had been invested in a company that the husband helped launch — and he couldn’t convince himself to diversify when he walked away.”

Sorry, but that relationship just won’t work, says Tarbox.  No one should have more than 10 percent of his or her wealth locked in one stock.  Just ask the former employees of Enron, who lost both their jobs and their retirement savings when the company filed for bankruptcy 10 years ago.

2. Chasing a Fantasy

You’ve read it 100 times: “Past performance is not an indication of future returns.”  But no one appears to believe it.  Purveyors of investment data can trot out tons of statistics showing that when a mutual fund or asset class (such as gold, emerging markets stocks, or junk bonds) gets singled out for great quarterly or annual returns, investors start to pour money into that investment like it was going out of style.

And, of course, it is.  One extensive study that looked at 19 years of market data found that investors consistently poured money into “hot” investments just as they were about to turn cold.  That left the average investor with returns that fell way below the market as a whole and didn’t even keep up with inflation.

Klontz admits that this is why he lost his shirt in technology stocks.  It’s a natural inclination to “run with the herd,” he says with a shrug.  Maybe so, but if you don’t want to get trampled, you have to devise an investment strategy that suits your goals and then stick to it, even as your neighbor gets (temporarily) rich on the investment du jour.

3. Equating “On Sale” with “Good Deal”

Consider two television sets: Both are $500, but one is marked down from $800.  Which one do you buy?  If you’re being reasonable, you buy the one that got the better rating in Consumer Reports.  But most people buy the one that’s on sale, says Matt Wallaert, a consultant for LendingTree, which owns the money management Web site Thrive.  In fact, even people who would never have spent $500 on a television often will when it’s discounted — simply because it’s so cheap!

In reality, $500 is $500.  If you wouldn’t normally spend that much on a television (or any product, for that matter), you shouldn’t do it now.  We’ve been fooled by “anchoring”: the illogical, but nearly inescapable, tendency to base our estimates of value on the nearest number we see, rather than an independent assessment.  Just because the tag has $800 crossed out and replaced by $500, that doesn’t mean $800 was a meaningful price.  Indeed, an MIT experiment revealed that students who wrote down the last two digits of their Social Security numbers based their estimates of a wine bottle’s worth on those two random numbers.  The higher their numbers, the more the students were willing to bid for the wine.

Before you pull out your checkbook to splurge at a sale, evaluate whether the product, be it a television or a bread machine, is worth that price in enjoyment.  Consider how often you’ll use it, for instance, and whether you can get something of similar quality for less.

4. Retaliatory Spending

You don’t need it.  You don’t want it.  But, dang it, no one is going to tell you that you can’t have it.  New York psychologist Bonnie Eaker Weil calls it “POP” spending — for “pissed-off purchases.”  She did a survey before publishing her latest book, Financial Infidelity, and estimated from the results that POP spending accounts for about $424 billion in purchases each year.

One of Weil’s Brooklyn-based clients, for example, went on a retaliatory $500 shopping spree when her husband gave one of her beat-up old jackets to charity without asking her first.  When she got home, she informed him that since he didn’t like her old jacket, she had gotten a new one from Saks Fifth Avenue.  Such purchases can also result from a fight with your boss, mother, or best friend, according to Weil.

But as good as retaliatory spending may feel, it can do real damage to your financial health.  Tarbox says a better approach is to talk out the anger, hurt, or disappointment — or just your bad day — with a friend, or even a professional counselor.  If you have to spend money on a psychologist, it’s probably still cheaper than the golf clubs or designer shoes you put on your credit card after that last argument with the boss.

5. Hanging on to Debt

The number of people who have money in savings accounts, earning less than 2 percent, while carrying debt on credit cards that charge more than 14 percent is “shocking,” Wallaert says.  Of Thrive’s customers who have more than $500 in credit card debt, almost 40 percent have more than enough in savings to pay it off, he says.

Wallaert connects this mistake to “mental accounting” that separates our money into different stacks that we think ought to stay separate.  But illogical separations can create mathematical mayhem.

Consider a person with $5,000 in credit card debt and $10,000 in savings.  The debt costs him 14 percent per year, or $700, but the $10,000 in savings earns just 2 percent annually, or $200.  He could pay off the debt, saving the $700, and still earn $100 annually on the remaining $5,000 in savings.  Net result: He’s immediately $600 richer and can start saving faster.

You might argue that you need those savings for emergencies.  And you do need some emergency savings, allows Frank C. Presson III, a financial planner in Tucson, Ariz.  But if you’ve got considerably more savings than debt, there’s no excuse.  Keep one month’s worth of living expenses in the bank, even at those sorry returns, Presson advises.  Use the rest to pay off the high-cost debt.  Then rebuild the emergency savings, not the debt.  Worst-case scenario: You still have the credit cards (now with zero balances), and you can tap them in an emergency.

6. Parental Martyrdom

An emerging problem involves parents who spend themselves to the edge of insolvency bailing out their children.  ”It starts from a good place, basically from wanting to be a good parent,” Klontz says.  ”They’ll say that Johnny is going through a rough patch and needs some help.  But it becomes financial enabling.”

Worse, it often causes the parents to suffer money woes that keep them from retiring or living comfortably because they’re constantly paying Johnny’s bills.

Any time you help an adult child, you should have a clear idea of how much help is necessary, how long it will be required, how it will help the child get back on his or her feet, and when (or whether) the child will have to pay you back.  When there’s no plan — just an open checkbook or couch — you turn the child into a dependent who becomes increasingly incapable of taking care of himself, Klontz says.

“I talk to the parents about how their attempts to help are like giving a drink to an alcoholic because his hand is shaking.  This kind of helping is hurting,” he says.  ”Then we talk about what kind of help would really help.”  (Hint: That kind generally doesn’t involve cash.)

7. Cyber Insecurity

Roughly half the world has signed on for free online banking, which makes money management easier and saves the typical consumer about $50 annually in postage stamps.  Among the people who don’t use online banking, 41 percent say they’ve held back because of security concerns, according to a recent survey by Gartner Research.

What do banks typically do to secure online customer accounts?  They put up multiple firewalls, which are the equivalent of brick enclosures around your house, and they have techno-security teams attempting to find the weak spots and shore them up.  They also patrol the firewalls 24/7, looking for climbers.

Now, let’s look at your mailbox.  It’s probably unlocked and unguarded — just what a thief needs to steal your credit cards.  In reality, the chance of becoming a victim of identity theft or financial fraud as the result of low-tech crime — whether it’s somebody stealing cards or “spoofing” you into providing private information via e-mail — is a lot greater than the chance that somebody will breach your bank’s online vault.

So sign up already and save the stamps.  And if you’re worried about security, check your account regularly to make sure there’s no suspicious activity.

8. Hoarding Money

Children of the Depression did a lot of this — stuffing $20 bills in their bibles or balling up tinfoil and rubber bands so they wouldn’t have to buy more.  But planners say that this is often a problem with wealthy and responsible older folks today: They’re so afraid of running out of money that they don’t enjoy the money that they have.

“When people deny themselves things that they could clearly afford, you have to ask them what they’re saving that money for,” Tarbox says.  ”We have to tell them that they’re not spending enough.”

If you’re worried about running out of money, sit down with a financial planner and work out the math.  Make sure you consider worst-case investment scenarios, not just the averages.  That will make you more comfortable about weathering a bad patch like the one we just muddled through.  Then, if you still have more than enough, make a plan that will allow you to enjoy your wealth by either spending the excess or giving it away.

Money, after all, is a means to an end — not the end itself.  You save it to make you, and the people you love, calm and comfortable.  And it’s a lot more fun to take the kids and grandkids on vacation — or provide them with college money or other gifts while you’re around to get the hugs and kisses — than to know that they’ll inherit a fortune after you die.

By: Kathy Kristof, www.cbsmoneywatch.com

An article written by Colorado Homes and Lifestyles, highlights the Colorado neighborhoods that are bringing back the charm of the west in a new way. Developments in Indian Peaks South, Lafayette, Obermeyer Place, Aspen, and Indian Shadow, Hesperus (Durango) are an example of simplicity and elegance.

 ”These (three)developments are throwbacks to life in the Old West, to pastures and porches and bustling promenades—reminders that life’s greatest luxuries often are the simplest” according to Colorado Homes and Lifestyle. Reading this article, M2 Lending Solutions was reminded of the unique homes available to buyers in Denver.  From West Washington  Park, to Belcaro, historic homes offer unique features that are rare to find, making them sought out by Denver Buyers. However, there are still new communities that are offering this rare simplicity  with a modern flare,

 Titled ” Where Old West Meets New” by Colorado Home and Lifestyle magazine, shows the rich community surrounding these homes. As you read the article feel free to contact me with any questions.

Where the Old West Meets New

By Elisabeth A. Sullivan

Colorado Homes and Lifestyle Magazine

Many of us dream of slipping on a pair of well-worn boots and ambling through the tall grass, of relaxing with good friends and neighbors in a close-knit community, or of finding a modern retreat in the heart of a historic city.

These three developments are throwbacks to life in the Old West, to pastures and porches and bustling promenades—reminders that life’s greatest luxuries often are the simplest.

Many of us dream of slipping on a pair of well-worn boots and ambling through the tall grass, of relaxing with good friends and neighbors in a close-knit community, or of finding a modern retreat in the heart of a historic city.

These three developments are throwbacks to life in the Old West, to pastures and porches and bustling promenades—reminders that life’s greatest luxuries often are the simplest.

Indian Peaks South, Lafayette
“We’re trying to create a sense of place in this community that has historic roots,” says Caroline Hoyt, co-founder and vice president of design at Louisville-based developer McStain Neighborhoods, who worked with Boulder-based Oz Architecture to come up with a set of design guidelines based on a study of Colorado’s history—and indigenous architecture—around the turn of the twentieth century. That’s why Indian Peaks South doesn’t look like it could belong in California or Connecticut. “It’s kind of like a historic village that’s retrofitted.”

As in early Western towns, the home sites of Indian Peaks South are oriented around a long central park. A network of alleys keeps garages and driveways tucked away from the street, Hoyt says, allowing the street to become “a place where people walk and you can have porches, to create a sense of community.”

The charming 307-unit development offers a range of single-family homes, townhomes and duplexes, with single-family homes starting in the upper $300,000s. Model homes replicate the graceful stick-framed houses commonly found in Colorado towns more than a century ago, with pitched roofs, board-on-board siding and sandstone—but, of course, they also offer all of the modern amenities and luxuries of today’s home.

For sales information, contact Danielle Davis at Team Lassen Real Estate, (303) 777-7125.

Obermeyer Place, Aspen
Located on a reclaimed rail yard in downtown Aspen, Obermeyer Place is modern and new—completed just last year—and yet it’s not out of place in the 1880s mining town. The 230,000-square-foot mixed-use development, which comprises five separate buildings with 44 residences (units are offered from $4 to $7 million) and 38,000 square feet of commercial space, is woven into the town’s architectural fabric.

The buildings’ red brick-and-sandstone facades and flat roofs echo Aspen’s stately historic structures. And their scale mirrors the size of the city’s traditional lots. “A place needs to be authentic; it needs to be real. It has to belong to the place [...] and the patterns of the place,” says John Cottle, principal of Cottle Carr Yaw Architects Ltd. in Basalt.

Cottle and his team took into account not only the land’s heritage, but also its future when designing this development. The red brick of Obermeyer Place is accented by newer, grittier elements including exposed steel, projecting balconies and expansive bay windows, which help propel the design forward and make the historically rooted community relevant to both time and place. After all, Cottle says, “If it’s not forward-looking, it’s embalmed.”

For sales information, contact Rich Wagar at Morris & Fyrwald Sotheby’s International Realty in Aspen, (970) 925-6060, aspensothebysrealty.com.

Indian Shadow, Hesperus
Residents can stake their claims on the Old West ideal of wide open spaces at Indian Shadow, a shared ranch development just 12 miles west of Durango. This is luxury in its purest form.

The private mountain enclave comprises 49 home sites—averaging five or six acres each and going for over $1 million—on nearly 1,800 acres, leaving more than 90 percent of the land undeveloped. “The idea for Indian Shadow is to keep it in pretty much its natural form,” says Russ Smith, co-owner and broker with Prudential Triple S Realty in Durango. “I see this as a big legacy project. This will be a place for the family to gather.” A place for children, parents and grandparents to fish, hike, ride horses and make memories.

Outdoor amenities abound. A private trail system winds throughout the scenic ranch, and more than a mile of the La Plata River runs through the property. Tucked next to the river is a communal fire pit encircled by welcoming Adirondack chairs. “They’re for star-gazing and for conversation; that’s our kind of entertainment,” Smith says.

Phase One of the development is 85-percent complete, with roads, utilities and infrastructure in place. Indian Shadow’s properties should be on the market later this year, Smith says, so there’s ample opportunity for you to invest in your own piece of ranchers’ heaven. “You’re going to wear your boots and jeans at this place,” Smith says. “It’s a simpler time and a simpler lifestyle.”

For sales information, contact Russ Smith, broker principal with Prudential Triple S Realty in Durango, (970) 247-3840, indianshadow.com.

An article published by Forbes.com reminded homeowners the importance of preparing for the unexpected.  The article outline important steps and tips to make sure you benefit the most out of your homeowners policy. Homeowner’s insurance is something that is a vital tool for a homeowner. As you read the article below please feel free to ask me any questions. I have many sources that can help answer any question you have regarding this topic.

Preparing For Nature’s Worst

 By: Andrew Beattie, www.forbes.com

Earthquakes, floods, tsunamis, hail, hurricanes, tornadoes and lightning strikes are just a few of the nasty surprises that nature can whip up.  Unfortunately, bad weather can affect anyone.  It is important to prepare for both large-scale and small-scale natural disasters so that, when the damage is done, you have the means to pick up the pieces and rebuild your portfolio and your life.  In this article we will look at what you need to do to make sure your financial interests come out on top after any of these uncontrollable events.

Be Sure of Your Insurance

It is a common recurring theme in every area struck by a natural disaster that a) no one saw it coming, and b) no one was properly insured for it.  Sitting in our dry and cozy home, it can be easy to scoff at the victims, but the truth is that almost everyone can be under-insured when it comes to a disaster.  The biggest wake-up call is the fact that homeowner’s insurance covers a very limited set of circumstances — fires from faulty wiring and such — that doesn’t include all the natural disasters that your area may be prone to.

Full Replacement Coverage

At the very least you should have full replacement or replacement cost coverage.  This policy will cover the cost of replacing your home or other insured buildings.  Pay attention to the limits of the policy because they will define what kind of further coverage you need.  Earthquake and flood insurance are sold as separate policies and, although the premiums can be high, you should buy them if you live in an area that regularly suffers such disasters.  If you are new to the area, the local library archives will have environmental data that will help you look into what kinds of natural disasters have occurred in the area in the past.

Keeping Current

Once you have your home covered with all the relevant policies, you will need to have your home reassessed every few years so that the policies reflect the true value of your house.  Also, if you do major renovations, such as installing hardwood flooring or finishing the basement, you will need to update the policy.  There is a more extensive home insurance policy available called a guaranteed replacement cost policy.  This policy will rebuild your home and may include improvements dictated by changes in the building code (something other policies may omit), but it is not available everywhere.

Covering the Knick Knacks

For the best insurance records, consider keeping a detailed list of the contents of your home and update it yearly.  The list should include serial numbers, photos and descriptions of everything, even the fixtures.  This will expedite the processing of any claim you may file and serve as documentation for your tax losses and deductions.  The best way to make sure your list is accurate is to ask your insurance agent what he or she wants to see in a claim.  For more expensive items like jewelry and costly electronics, you should consider separate coverage over and above the basic coverage of the items in your house (items that are likely depreciated yearly by your insurance policy).  If you have a home office, you can get affordable business coverage to cover the equipment that you use for the business, rather than putting it under your basic home policy.

Renting? You Still Need Coverage

The insurance that your landlord carries will cover damages to the building but not your possessions.  Therefore, if you live in an area that’s prone to natural disaster, you should consider renter’s insurance.  Not all policies are created equal; if you get a bare-bones policy that just covers the replacement cost of your stuff, you will be missing possible coverage for the relocation to another area or the living costs while you wait for your apartment to be repaired.  Renter’s insurance can be pretty cheap, so shop around for the best policy and the best price.

Emergency Documents

With the exception of your will, which should be kept by your attorney or at the local registrar’s office, you should rent a safety deposit box for the originals of all other important documents.  Keeping them in your home puts you at risk of having them stolen, destroyed in a fire or swallowed in an earthquake.  This includes everything from your home’s deed to your marriage license.  One good idea would be to make two extra copies of all of these documents and leave one set with your attorney or a trusted friend/relative.  The second set will be placed in your emergency kit.

Emergency Kit and Your Wish List

An emergency kit is a small and compact package of things that you want to bring with you in the event that you and your family need to flee from a disaster.  Your emergency kit should be a box small enough to run with.  Making a pack that is waterproof with a lock would be a plus, but a child’s plastic lunch box will do in a pinch. Inside should be:

1. Copies of all your important documents (home’s deed, marriage license, birth certificates, etc).

2. Enough traveler’s checks or cash to make it through a few days at a hotel.

3. Copies of any prescriptions and your health and dental insurance cards.

4. Computer backups of your financial records (if you have them) or copies of the first two pages of your most recent federal and state income tax forms.

Also, you should make a wish list of items to take in the event that you have the time to collect a few select items before you need to flee.  This can be negatives or CDs full of your family photos, jewelry or whatever else is important to you and can be quickly stuffed and carried in a small bag.  It is easier to make the decisions now, when the roof and walls aren’t falling in around you and your loved ones.

Be Proactive

While preparing for an unexpected disaster sounds impossible, there are many things that you can do.  By taking the steps mentioned above, you will be better able to rebuild after the event, but, if you are homeowner, you can go even further.  There are many upgrades, such as hurricane shutters and moving your wiring so it runs in the attic, that will minimize the damage of most natural disasters.  As a bonus, these same upgrades will lower your insurance premiums.  Building inspectors, workers from your utility company and a local fire fighter will be able to tell you what changes you can make to protect your home and the people in it.

 By: Andrew Beattie, www.forbes.com

Read this artilce on Forbes.com

With the interest of sustainability on the forefront of everyone’s mind, the peak of this interest is occurring here in Denver. As we watched Obama launch his New Energy Plan on the roof of the Denver Museum of Nature and Science, solar panels placed at DIA, and the Bike Share program seeing great success; Denver has become an epicenter for sustainability. With a large job market in Denver centered around sustainability, it is no surprise that Denver was just name 3^rd in sustainability rankings according the Denver Business Journal. The article highlighted San Francisco and Portland just ahead Denver, with contributing factors including “Green industry projects” and “per capita rate of Leadership in Energy & Environmental Design” (Denver Business Journal, 2010). To read more on Denver sustainability ranking visit Denver Business Journal. 

 If you would like more information on some of Denver’s sustainability projects below are just a few of the great sustainable projects Denver is seeing:

Denver Bike Sharing Program

http://www.denverbikesharing.org/

 Green Print Denver

http://www.greenprintdenver.org/

 Sustainable Colorado

http://www.sustainablecolorado.org/

 Stapleton: A Sustainable Community

http://discover.stapletondenver.com/index.aspx

As always feel free to contact me as Denver’s Premier Mortgage Banker.

Buying a home we all have dreams of large remodels, landscaping and other large projects. While those large scheme plans are great, it is easy to push aside the small projects in your home. An article posted by Realtor Magazine listed solutions to even the smallest common problems homes may face, and the simple cost effective solutions to help fix them.

Easy Fixes for 4 Household Problems

Squeaky stairs, leaky faucets, or oil stains in the garage? Learn how to fix common household problems so they don’t turn off buyers.

By Wendy Cole | May 2010

Problems like squeaky stairs and oil stains on the garage floor can be quick turnoffs to buyers. But these common household troubles need not hold your listing back—particularly if they’re relatively easy for a do-it-yourselfer to fix.

 Lynda Lyday—carpenter, professional contractor, and a featured expert on the DIY cable network—provides dozens of simple fixes for common household problems in The Homeowner’s Manual (Que Publishing, 2006).

 While it’s always best to bring in an expert to correct big problems, Lyday provides these tips for capable home owners who want to try their own hand at a solution.

 Problem: Oil Stains on Garage Floor

Lyday’s solution: “You can remove most of a stubborn stain with a bit of elbow grease and scrubbing. First, remove the surface oil by sprinkling some cat litter on it to soak it up. Then clear away the cat litter and focus on the stain.

Make a paste of hot water and dry dish or laundry detergent. Use a stiff bristle scrub brush to scrub the area with the paste. Hose the area and let it dry. Another method is to use a product such as Spray ’n Wash on the stain for 10 minutes, along with a dry detergent.

Your last option is to spray on some oven cleaner. Use this sparingly, wash it down thoroughly, and keep children and pets away from it.”

Problem: Leaky Faucets

Lyday’s solution: “Most faucet leaks can easily be fixed with a rubber washer, an O-ring, or seals—depending on what type of faucet it is. By fixing the problem yourself, you can save a good bit of money since plumbers can be expensive and will charge you a standard fee even if it takes only 10 minutes to fix the problem.”

Problem: Nail Pops

Lyday’s solution: “Nail pops are a problem across the country. The term comes from the nails that hold the drywall to the studs actually popping out through the face of the drywall. This is from either a house settling or the wood studs drying out over time, squeezing the nail out of the wood and pushing it through the drywall.

The fix for this isn’t terribly hard, but it’s tedious because there are up to 32 nails in a 4-foot by 8-foot sheet of drywall. My suggestion is to pound the nail through the drywall to the stud. Then, just above it, place a drywall screw to hold the drywall to the stud, and finish it off with a few coats of spackle or joint compound. Finally, seal and paint it.

Most home-improvement stores also sell nail pop kits that can make this job easier.”

Problem: Squeaky Stairs

Lyday’s solution: “The most common problems that occur in a staircase are the treads (horizontal surface of the steps) coming loose, which causes squeaking. Also common are the spindles or balusters coming loose. If you can get underneath the staircase, fixing the treads is easy.

You will need to attach an L bracket from the underside of the tread to the stringer (the long piece of wood that connects the treads and runs diagonally up the wall). If you can’t get underneath the staircase, you’ll have to make the repair from above.

Squeaky stair kits are available that allow you to make this fix even through carpet. Otherwise, you can secure the tread to the stringer with a trim screw.”

Read the article on Realtor Magazine’s Website Here

Do Americans care about fuel economy as oil spills into the Gulf of Mexico week after week and gasoline hovers around $3 a gallon?  You bet they do, though they also have a fair number of misconceptions about how to squeeze a few more miles out of every drop.

The Consumer Federation of America’s (CFA) most recent survey says that if we had a 50-mile-per-gallon car fleet today, we’d save more oil than the entire proven reserves in the entire Gulf of Mexico.  And people care about that.

According to Jack Gillis, author of The Car Book and a CFA spokesman, 87 percent of respondents said it is “important that the country reduce its consumption of oil,” and 54 percent said it is “very important.”

An amazing 65 percent of Americans surveyed support a mandated transition to a 50-mpg fuel economy standard by 2025.  That’s a tough standard, some 15 mpg better than the ambitious goal set by the Obama Administration (35 mpg by 2016).

“The expectations of American consumers are reasonable and achievable,” Gillis said in a conference call.”  CFA says that Asian carmakers, compared to the U.S. competition, are offering twice as many vehicles with 30 mpg or better.  ”It’s shocking that so few of today’s cars get more than 30 mpg,” he said.

Mark Cooper, CFA’s research director, noted that in five years of the group’s polling, the public’s views have stayed remarkably consistent: Americans want less dependence on Middle Eastern oil and higher fuel-economy standards.

So, people care about fuel economy, but they’re misinformed about how to actually achieve it.  The federal government’s fueleconomy.gov site (very useful to check cars’ mpg) just published the “Top 10 Misconceptions about Fuel Economy.”

Here are a few of the big myths:

³It takes more fuel to start a vehicle than it does to let it idle.

People are really confused about this one and will leave a car idling for half an hour rather than turn it off and restart.  Some kids I know started an anti-idling campaign in the suburbs and are shaming parents into shutting down their cars.

Idling uses a quarter- to a half-gallon of fuel in an hour (costing you one to two cents a minute).  Unless you’re stalled in traffic, turn off the car when stopped for more than a few minutes.

³Vehicles need to be warmed up before they’re driven.

Pshaw.  That is a long-outdated notion.  Today’s cars are fine being driven off seconds after they’re started.

³As a vehicle ages, its fuel economy decreases significantly.

Not true.  As long as it’s maintained, a 10- or 15-year-old car should have like-new mileage.  The key thing is maintenance; an out-of-tune car will definitely start to decline mileage-wise.

³Replacing your air filter helps your car run efficiently.

That’s another outdated claim, going back to the pre-1976 carburetor days.  Surprisingly, modern fuel-injection engines don’t get economy benefits from a clean air filter.

³After-market additives and devices can dramatically improve your fuel economy.

As readers of my story on The Blade recall, there’s not much evidence that these “miracle products” do much more than drain your wallet.  Both the Federal Trade Commission and Consumer Reports have weighed in on this.  There are no top-secret 100-mpg add-ons out there.

³Using premium fuel improves fuel economy.

You might as well write a check to BP if you believe this.  Always use the grade recommended by the manufacturer of your vehicle.  Only use premium if your car specifies it.

 By: Jim Motavalli, www.thedailygreen.com