At our Wednesday REMAX Meeting, we discussed clients who have real estate that is not moving in this current market, who may be open to “exchanging their property” for something else..
Here's a list that other agents developed.
1. 1279 Elder (575843 ) $599,000 open Bill Allen 690
2. 109 3rd Superior (567421 ) 1.25 acres, plus one lot, plus 1800 sf bungalow.
Total price$775,000 trade for improved property up to $1 million- Kent Madson 632
3. 4975 Twin Lakes Rd #78 Twin Lakes beauty. 3rd floor, great views, one bedroom, beautiful finishes, new appliances. $169,000 trade for Longmont house around 200g.- Tom Kalinski 620
4. 1045 Spruce (luxury condos)(572840)(572841)(572839)$750,000 to $1,000,000.. submit ideas
5. 2 Table Mesa Houses (Butler and 45th) for income property
6. 4 Unit 831 Meeker, Longmont and sfr on Tulip in Longmont.. submit ideas
7. Another 4 unit on Meeker and sfr on Fox.. submit ideas
8. Gate N Green Broomfield $190g, house on Scott drive (Longmont) and home in Windsor ..submit ideas
9. Heatherwood home for Loft in Downtown Boulder
10. Home in Lyons for smaller property to rent (564840 )
11. 4 unit on Vivian in Longmont for Monroe or Wimbledon Unit
Duane Duggan 611
Friday, September 19, 2008
Home-builder confidence improves in September
Builders more optimistic about future sales following government actions
By Rex Nutting, MarketWatch
Last update: 1:09 p.m. EDT Sept. 16, 2008
WASHINGTON (MarketWatch) -- U.S. home builders grew more confident about their business in early September, with builder sentiment rising for the first time in seven months, a national industry trade group reported Tuesday.
The builders' sentiment index rose to 18 in September, from a record low 16 in August, the National Association of Home Builders said. Still, the index shows that barely one in five builders is optimistic.
Economists expected the index to rise to 17 in September. See Economic Calendar.
The index peaked at 72 in June 2005. It was at 20 a year ago.
Lower mortgage rates, a loan disguised as a tax break for first-time buyers and the government takeover of mortgage giants Fannie Mae and Freddie Mac have encouraged builders to think new-home sales may finally be at a turning point, said Sandy Dunn, president of the builders' group and a builder from Point Pleasant, W.Va.
All three components of the builders' index improved in September.
The index measuring current single-family sales rose to 17 from 16. The index gauging future sales soared to 30 from 24. The index of prospective buyers rose to 14 from 13.
All four regions posted better scores in September than in August. Conditions improved the most in the tiny Northeast region, rising to 22 from 16. Sentiment rose by two points in the other regions: to 15 in the Midwest, to 22 in the South and to 12 in the West.
The report comes a day before the Commerce Department releases its estimate of housing starts and building permits for August. Economists are looking for starts to fall to a seasonally adjusted annual rate of 955,000 in August from 965,000 in July.
The builder index is highly correlated with single-family permits. End of Story
Rex Nutting is Washington bureau chief of MarketWatch.
By Rex Nutting, MarketWatch
Last update: 1:09 p.m. EDT Sept. 16, 2008
WASHINGTON (MarketWatch) -- U.S. home builders grew more confident about their business in early September, with builder sentiment rising for the first time in seven months, a national industry trade group reported Tuesday.
The builders' sentiment index rose to 18 in September, from a record low 16 in August, the National Association of Home Builders said. Still, the index shows that barely one in five builders is optimistic.
Economists expected the index to rise to 17 in September. See Economic Calendar.
The index peaked at 72 in June 2005. It was at 20 a year ago.
Lower mortgage rates, a loan disguised as a tax break for first-time buyers and the government takeover of mortgage giants Fannie Mae and Freddie Mac have encouraged builders to think new-home sales may finally be at a turning point, said Sandy Dunn, president of the builders' group and a builder from Point Pleasant, W.Va.
All three components of the builders' index improved in September.
The index measuring current single-family sales rose to 17 from 16. The index gauging future sales soared to 30 from 24. The index of prospective buyers rose to 14 from 13.
All four regions posted better scores in September than in August. Conditions improved the most in the tiny Northeast region, rising to 22 from 16. Sentiment rose by two points in the other regions: to 15 in the Midwest, to 22 in the South and to 12 in the West.
The report comes a day before the Commerce Department releases its estimate of housing starts and building permits for August. Economists are looking for starts to fall to a seasonally adjusted annual rate of 955,000 in August from 965,000 in July.
The builder index is highly correlated with single-family permits. End of Story
Rex Nutting is Washington bureau chief of MarketWatch.
1st Alpine Unit Sold
Whew. After sometime on the market, Bill Allen sold and closed on one of the three - 1.5 million dollar - units that he and partner Natalie Baumgartner built at 1316, 1318 and 1320 Alpine. Bill said that he started working on this project some 2 years ago. The concept was to produce a comfortably modern upscale townhouse project in the North Boulder area close to the Pearl Street Mall. The units are built Green Featuring high quality low maintenance, energy efficient design and naturally sustainable products and resources.
The "Terrace" project is located diagonally across from Ideal Market, now Whole Foods. Bill said, "the market for high end luxury residences changed and softened between the design stage and the time we brought them to market. We often hear from interested buyers that they are sitting on the fence, uncomfortable with the state of the economy, they are reluctant to commit preferring to 'wait and see how everything shakes out'."
This was a second home for the buyers and was a cash transaction. They looked at a lot of properties, thought about it for a long time, and were quite demanding through out the buying process.
Bill is optimistic that having someone living there in the middle unit will create the energy needed to drive the project. The project had been listed for over 5 months and hand only about 12 agent showings, but commonly draws over 20 groups of people to Sunday open houses.
The "Terrace" project is located diagonally across from Ideal Market, now Whole Foods. Bill said, "the market for high end luxury residences changed and softened between the design stage and the time we brought them to market. We often hear from interested buyers that they are sitting on the fence, uncomfortable with the state of the economy, they are reluctant to commit preferring to 'wait and see how everything shakes out'."
This was a second home for the buyers and was a cash transaction. They looked at a lot of properties, thought about it for a long time, and were quite demanding through out the buying process.
Bill is optimistic that having someone living there in the middle unit will create the energy needed to drive the project. The project had been listed for over 5 months and hand only about 12 agent showings, but commonly draws over 20 groups of people to Sunday open houses.
Government Bailout Plan
Sept. 19 (Bloomberg) -- House Financial Services Committee Chairman Barney Frank said Congress will quickly pass legislation authorizing the Treasury to take on financial companies' troubled assets to help stabilize markets.
"I'm pretty sure this will be Treasury being the one that executes it because you don't have time to create a new agency,'' Frank said today in an interview to be broadcast this weekend on Bloomberg Television's "Political Capital with Al Hunt.'' Congress will act on the plan "within two weeks'' and will consider broader regulation of Wall Street next year, the Massachusetts Democrat said.
Federal Reserve Chairman Ben S. Bernanke, Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox met with Frank and other congressional leaders in Washington late yesterday to propose a plan to calm financial markets roiled by the biggest housing slump since the Great Depression.
The initiative would remove devalued mortgage-linked assets from financial companies' balance sheets. Frank said Bernanke and Paulson told him the implications of not acting would mean "disaster, the financial system going into a mode of very little activity.''
"The Treasury will buy selectively,'' and the plan will cost taxpayers "ultimately not a great deal,'' Frank said. The bad debt will cost "maybe double-figure billions over a few years,'' he said.
Second Stimulus
The U.S. House of Representatives will pass legislation to implement the plan by the end of next week and the Senate will act soon after, Frank said. The measure should include a second stimulus package with funding for infrastructure, he said. It will not contain rebates for U.S. families.
Frank said Congress next year will move to apply rules similar to those governing commercial banks to hedge funds, private-equity firms and investment banks. This will include capital requirements and limiting leverage, he added.
He endorsed the SEC's decision to temporarily ban short- selling in the shares of financial companies. The prohibition, which affects the shares of 799 companies, is effective immediately and will be in place through Oct. 2, the SEC said today.
"They banned it some, they should go even further,'' Frank said.
After the interview, Frank said he and Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, have directed members of their staffs to develop a plan for using the initiative to "maximize the beneficial effects here on foreclosures.''
"This is clearly an opportunity for us, while we are responding to the economic problems'' to also reduce foreclosures, Frank said. "Our staffs are already working on making sure that we have that piece done.''
Thoughts:
Immediately, Fannie, Freddie and the Treasury will increase their purchases of Mortgage Backed Securities (MBS) to provide more liquidity in the mortgage markets and stimulate the home sales market. Over the weekend the Congress and Treasury will hammer out the details of a plan to remove the poison assets (read bad subprime loans and securities) from Institutional balance sheets so they can get back in the business of providing the money markets that keep the country running and improve liquidity that way. Look for this to be an RTC style program to manage the bad assets to conclusion without them taking down the institutions that own them.
Short sales of financial institutions are immediately forbidden. Going to stay that way for a while.
Stock Market loves it as does the MBS market. Could be a rare case of Stocks and Bonds BOTH going well.
Regardless of your views on such things-it is good news for us. Rates will be better for your typical buyer, more programs will be available, regulatory oversight is going to be tight and will never go back to where it was, so get ready for the rules to get more like 10 years ago. No Doc lending in ANY form is gone and is going to stay gone. If you have been operating with clients who have to have that kind of financing, they are going to have to find another way to fund their deals. Those kinds of loans are exactly what brought down Lehman this week. (There was a local angle to that. Aurora Lending, a local company, was the firm that made those loans nationwide. They were owned by Lehman)
Clearing up the bad assets choking the pipelines throughout the industry may have one positive effect-Jumbo money may get easier to find once those securities have been separated from the junk they have been lumped in with to date. Not overnight, but I can see that helping a lot down the road.
President Bush is speaking now calling for bipartisan action to pass legislation approve the purchase of these illiquid assets from the market. He is reiterating a lot of what Paulson said. My guess is there will be legislation next week.
This is a strong plan. It’s going to cost the taxpayers a bundle, but the alternative might cost us everything.
"I'm pretty sure this will be Treasury being the one that executes it because you don't have time to create a new agency,'' Frank said today in an interview to be broadcast this weekend on Bloomberg Television's "Political Capital with Al Hunt.'' Congress will act on the plan "within two weeks'' and will consider broader regulation of Wall Street next year, the Massachusetts Democrat said.
Federal Reserve Chairman Ben S. Bernanke, Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox met with Frank and other congressional leaders in Washington late yesterday to propose a plan to calm financial markets roiled by the biggest housing slump since the Great Depression.
The initiative would remove devalued mortgage-linked assets from financial companies' balance sheets. Frank said Bernanke and Paulson told him the implications of not acting would mean "disaster, the financial system going into a mode of very little activity.''
"The Treasury will buy selectively,'' and the plan will cost taxpayers "ultimately not a great deal,'' Frank said. The bad debt will cost "maybe double-figure billions over a few years,'' he said.
Second Stimulus
The U.S. House of Representatives will pass legislation to implement the plan by the end of next week and the Senate will act soon after, Frank said. The measure should include a second stimulus package with funding for infrastructure, he said. It will not contain rebates for U.S. families.
Frank said Congress next year will move to apply rules similar to those governing commercial banks to hedge funds, private-equity firms and investment banks. This will include capital requirements and limiting leverage, he added.
He endorsed the SEC's decision to temporarily ban short- selling in the shares of financial companies. The prohibition, which affects the shares of 799 companies, is effective immediately and will be in place through Oct. 2, the SEC said today.
"They banned it some, they should go even further,'' Frank said.
After the interview, Frank said he and Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, have directed members of their staffs to develop a plan for using the initiative to "maximize the beneficial effects here on foreclosures.''
"This is clearly an opportunity for us, while we are responding to the economic problems'' to also reduce foreclosures, Frank said. "Our staffs are already working on making sure that we have that piece done.''
Thoughts:
Immediately, Fannie, Freddie and the Treasury will increase their purchases of Mortgage Backed Securities (MBS) to provide more liquidity in the mortgage markets and stimulate the home sales market. Over the weekend the Congress and Treasury will hammer out the details of a plan to remove the poison assets (read bad subprime loans and securities) from Institutional balance sheets so they can get back in the business of providing the money markets that keep the country running and improve liquidity that way. Look for this to be an RTC style program to manage the bad assets to conclusion without them taking down the institutions that own them.
Short sales of financial institutions are immediately forbidden. Going to stay that way for a while.
Stock Market loves it as does the MBS market. Could be a rare case of Stocks and Bonds BOTH going well.
Regardless of your views on such things-it is good news for us. Rates will be better for your typical buyer, more programs will be available, regulatory oversight is going to be tight and will never go back to where it was, so get ready for the rules to get more like 10 years ago. No Doc lending in ANY form is gone and is going to stay gone. If you have been operating with clients who have to have that kind of financing, they are going to have to find another way to fund their deals. Those kinds of loans are exactly what brought down Lehman this week. (There was a local angle to that. Aurora Lending, a local company, was the firm that made those loans nationwide. They were owned by Lehman)
Clearing up the bad assets choking the pipelines throughout the industry may have one positive effect-Jumbo money may get easier to find once those securities have been separated from the junk they have been lumped in with to date. Not overnight, but I can see that helping a lot down the road.
President Bush is speaking now calling for bipartisan action to pass legislation approve the purchase of these illiquid assets from the market. He is reiterating a lot of what Paulson said. My guess is there will be legislation next week.
This is a strong plan. It’s going to cost the taxpayers a bundle, but the alternative might cost us everything.
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