Ellis Real Estate

Mortgage Companies Require More Money Down

2011-03-29T09:43:00.001-07:00

Housing Starts Show Improvement

2011-03-29T09:40:00.000-07:00

Foreclosures Drop

2011-03-29T09:37:00.001-07:00

Report on Colorado's Economic and Real Estate Summit

2011-03-15T10:22:00.001-07:00

Very informative article on the real estate market, both commercial and residential.

Great News.

2011-03-15T10:18:00.000-07:00

Program for First Time Homebuyers

2011-03-08T08:37:00.001-08:00

Housing Starts Show Improvement

2011-03-08T08:29:00.001-08:00

Federal Tax Credits for Consumer Energy Efficiency

2011-02-10T14:49:00.000-08:00

Great tips for getting tax credits this year.

Denver Area Home Prices

2011-01-27T10:50:00.001-08:00

Should You Refinance Your Home Mortgage?

2011-01-27T10:46:00.001-08:00

Should You Refinance Your Home Mortgage?

2011-01-27T10:45:00.000-08:00

Positive Report On The Denver Real Estate Market

2011-01-21T11:09:00.000-08:00

Is it time to buy a home?

2011-01-03T21:49:00.001-08:00

Time to Buy A Home

2011-01-03T21:47:00.001-08:00

Coldwell Banker Donates to help Children

2010-12-10T11:05:00.001-08:00

We are so proud to be associated with a company that keeps on giving.

Celebrate The Season

2010-12-05T08:08:00.000-08:00

Looking for ways to celebrate the season in the Denver area. Check out this article.

Good News for Real Estate

2010-12-05T08:03:00.000-08:00

Safest Cities to Live

2010-12-05T08:02:00.000-08:00

Full November Moon

2010-11-21T08:20:00.001-08:00

Home Maintenance

2010-11-09T05:39:00.000-08:00

Tax Credit for Energy Efficient Products

2010-11-09T05:38:00.001-08:00

Very Interesting Article on Denver's Housing Market

2010-10-07T08:13:00.000-07:00

Wells Fargo To Pay Settlement

2010-10-07T08:05:00.001-07:00

http://cbdenvermarketwatch.wordpress.com/

2010-10-06T09:36:00.000-07:00

http://cbdenvermarketwatch.wordpress.com/

ColoradoHomes.com is Now Mobile!

2010-10-03T08:06:00.000-07:00

ColoradoHomes.com is Now Mobile!

Time To Buy A Home

2010-09-23T07:53:00.000-07:00

This is a very good article regarding is it a good time to buy a home. Contact Sharon, Kelly or Lori with The Ellis Team for any real estate needs in the Denver or surrounding areas.

Harvest Moon

2010-09-22T19:06:00.001-07:00

Million Dollar Home Sales Improve

2010-09-14T21:13:00.000-07:00

Shanahan's home sells in Cherry Hills

2010-09-14T21:09:00.000-07:00

10SeptemberArticle

2010-09-14T16:58:00.000-07:00

10SeptemberArticle

Foreclosures on downward trend, will it last?

2010-08-31T18:33:00.001-07:00

Great Time to Buy A Home

2010-08-31T18:30:00.001-07:00

Great article about the fact even though it is a great time to buy, record low interest rates, great values on properties, people are still reluctant.

Market Update

2010-08-31T18:26:00.000-07:00

http://cbdenvermarketwatch.wordpress.com/

2010-08-22T22:02:00.000-07:00

http://cbdenvermarketwatch.wordpress.com/

Ellis Real Estate

2010-08-17T20:48:00.000-07:00

Ellis Real Estate

Coldwell Banker on You Tube

2010-08-17T20:46:00.000-07:00

http://cbcoloradorealestateupdate.wordpress.com/

2010-08-12T14:59:00.000-07:00

http://cbcoloradorealestateupdate.wordpress.com/

2010-08-03T06:25:00.001-07:00

Highlands Ranch was voted the 12th best place in Colorado to live. With over 8,100 acres of open space, 22 lush parks, and activity possibilities that span from hiking to golf, this unincorporated area outside Denver offers the best of the Colorado outdoors, plus a thriving downtown.
Visit Highlands Ranch Mansion, a historic structure, or one of the town's four state-of-the-art recreational facilities.
A strong school district and steady home prices appeal to families. Highlands Ranch's business parks are also a draw. --Brittani DiMare

2010-07-29T08:05:00.001-07:00

http://ping.fm/zIrjU

2010-07-29T06:55:00.001-07:00

http://ping.fm/1K3Ra?gid=113481472037168&v=wall

2010-07-26T20:45:00.001-07:00

Sharon and Kelly Ellis with Coldwell Banker Residential Real Estate are members of the Highlands Ranch Chamber of Commerce. Sharon is chairing this year's 10th annual Golf Tournament to be held at Highlands Ranch Golf Club on August 16th. Expecting full field of 144 players. Contact the Chamber or Sharon and Kelly for information. Sponsors needed. Great networking and exposure for your business.

How to Remove Computer Programs You Don't Use

2010-07-13T06:38:00.000-07:00

How to Remove Computer Programs You Don't Use

10JulyArticle

2010-07-09T14:44:00.000-07:00

10JulyArticle

http://cbcoloradorealestateupdate.wordpress.com/

2010-06-03T21:14:00.000-07:00

http://cbcoloradorealestateupdate.wordpress.com/

Momma Owl & Babies

2010-04-14T07:57:00.000-07:00

Momma Owl and 2 of her babies. Actually 3 babies in the nest.

Babies were starting to do training flights around the tree

the day before I left Arizona. Too cute.

9NEWS.com | Denver | Colorado's Online News Leader | Man behind alleged rental scheme arrested in Asia

2010-03-25T13:48:00.000-07:00

9NEWS.com Denver Colorado's Online News Leader Man behind alleged rental scheme arrested in Asia

9NEWS.com | Denver | Colorado's Online News Leader | Aurora neighborhood had most homes sold in '09

2010-03-25T13:41:00.000-07:00

9NEWS.com Denver Colorado's Online News Leader Aurora neighborhood had most homes sold in '09

http://cbdenvermarketwatch.wordpress.com/

2010-03-06T07:58:00.000-08:00

http://cbdenvermarketwatch.wordpress.com/

http://cbcoloradoweeklymarketwatch.wordpress.com/

2010-03-02T08:53:00.000-08:00

http://cbcoloradoweeklymarketwatch.wordpress.com/

From the Dr. Oz Website: '.htmlentities($node->title).'

2010-02-25T09:16:00.001-08:00

http://cbdenvermarketwatch.wordpress.com/

2010-01-26T13:39:00.000-08:00

http://cbdenvermarketwatch.wordpress.com/

Dirty Hotels: What's In Your Bed? - ABC News

2010-01-22T08:00:00.000-08:00

Dirty Hotels: What's In Your Bed? - ABC News

Electrical Outlet Danger

2010-01-16T18:54:00.001-08:00

Electrical receptacle outlets in walls and floors may present shock and electrical fire hazards to consumers. The U.S. Consumer Product Safety Commission estimates that 3,900 injuries associated with electrical receptacle outlets are treated in hospital emergency rooms each year. Approximately a third of these injuries occur when young children insert metal objects, such as hair pins and keys, into the outlet, resulting in electric shock or burn injuries to the hand or finger. CPSC also estimates that electric receptacles are involved in 5,300 fires annually which claim 40 lives and injured 110 consumers.

Older homes may have receptacles which are damaged or which, otherwise, may have deteriorated over the years. In one case of a damaged receptacle, a woman suffered severe burns to her hand as she was plugging in a floor lamp. Part of the plastic faceplate of the outlet had broken away, allowing the prongs of the plug to bridge from the electrical contacts to the grounded strap, resulting in intense electrical arcing.

Outlets also deteriorate from repeated use, from plugging-in and unplugging appliances as is often done in kitchens and bathrooms. As a result, when plugs fit loosely into receptacles, especially the two-prong ungrounded type, they may slip partially or completely out of the receptable with only slight movement of the attached cord. Receptacles in this condition may overheat and pose a serious fire hazard; if covered by a curtain or drape, the fire hazard is even greater.

Consumers should have a qualified person replace deteriorated and damaged receptacles and, at the same time, upgrade their home electrical system to present safety standards. The simplest and most effective method to protect against electrocution is through the installation of ground- fault circuit interrupters (GFCIs).

Another method of protection in the home is to install 3-wire receptacles which will accept either 2- or 3-prong plugs. This method, however, requires a grounding conductor which may or may not be available in the outlet box. The least acceptable method is installing another 2-wire receptacle that requires the use of an adapter for accepting 3-wire plugs. Even thought the tab on the adapter may be properly connected to the cover-plate screw, the grounding path may not be adequate to protect against ground faults.

Outlets with poor internal contacts or loose wire terminals may become overheated and emit sparks. Even a receptacle with nothing plugged into it may run hot if it is passing current through to other outlets on the same circuit. To prevent damage to receptacles, appliances should be switched-off before unplugging from a receptacle.

Have a qualified electrician replace damaged receptacles or those which feel hot, emit smoke or sparks, those with loose fiffing plugs or those where plugged-in lamps flicker or fail to light.
Do not unplug appliances by pulling on the cord at an angle. The brittle plastic face of the recepacle may crack nd break away, leaving live parts of the receptacle exposed.

To protect young children, parents should consider some precautions:

Insert plastic safety caps into unused outlets within reach of young children.
Be sure that plugs are inserted completely into receptacles so that no part of the prongs are exposed.

http://cbdenvermarketwatch.wordpress.com/

2010-01-08T10:57:00.000-08:00

http://cbdenvermarketwatch.wordpress.com/

HAPPY NEW YEAR

2009-12-31T08:51:00.000-08:00

We wish you a Happy and Prosperous 2010. Wishing everyone the best new year possible.

Proper Placement of Carbon Monoxide Detectors

2009-12-28T21:48:00.001-08:00

Proper placement of a carbon monoxide (CO) detector is important. If you are installing only one carbon monoxide detector, the Consumer Product Safety Commission (CPSC) recommends it be located near the sleeping area, where it can wake you if you are asleep. Additional detectors on every level and in every bedroom of a home provides extra protection against carbon monoxide poisoning.

Homeowners should remember not to install carbon monoxide detectors directly above or beside fuel-burning appliances, as appliances may emit a small amount of carbon monoxide upon start-up. A detector should not be placed within fifteen feet of heating or cooking appliances or in or near very humid areas such as bathrooms.

When considering where to place a carbon monoxide detector, keep in mind that although carbon monoxide is roughly the same weight as air (carbon monoxide's specific gravity is 0.9657, as stated by the EPA; the National Resource Council lists the specific gravity of air as one), it may be contained in warm air coming from combustion appliances such as home heating equipment. If this is the case, carbon monoxide will rise with the warmer air.

Installation locations vary by manufacturer. Manufacturers’ recommendations differ to a certain degree based on research conducted with each one’s specific detector. Therefore, make sure to read the provided installation manual for each detector before installing.

The International Association of Fire Chiefs recommend a carbon monoxide detector on every floor of your home, including the basement. A detector should be located within 10 feet of each bedroom door and there should be one near or over any attached garage. Each detector should be replaced every five to six years.

CO detectors do not serve as smoke detectors and vice versa. However, dual smoke/CO detectors are also sold. Smoke detectors detect the smoke generated by flaming or smoldering fires, whereas CO detectors can alarm people about faulty fuel burning devices to prevent carbon monoxide poisoning. Carbon monoxide is produced from incomplete combustion of fossil fuels. In the home CO can be formed, for example, by open flames, space heaters, water heaters, blocked chimneys or running a car inside a garage.

Since CO is colorless, tasteless and odorless (unlike smoke from a fire), detection and prevention of carbon monoxide poisoning in a home environment is impossible without such a warning device. In North America, some state, provincial and municipal governments require installation of CO detectors in new units - among them, the U.S. states of Illinois, Massachusetts, Minnesota, New Jersey, and Vermont, the Canadian province of Ontario, and New York City.

According to the 2005 edition of the carbon monoxide guidelines, NFPA 720, published by the National Fire Protection Association, sections 5.1.1.1 and 5.1.1.2, all CO detectors 'shall be centrally located outside of each separate sleeping area in the immediate vicinity of the bedrooms,' and each detector 'shall be located on the wall, ceiling or other location as specified in the installation instructions that accompany the unit.'

When carbon monoxide detectors were introduced into the market, they had a limited lifespan of 2 years. However technology developments have increased this and many now advertise 5 or even 6 years. Newer models are designed to signal a need to be replaced after that timespan although there are many instances of detectors operating far beyond this point.

Although all home detectors use an audible alarm signal as the primary indicator, some versions also offer a digital readout of the CO concentration [see side-bar], in parts per million. Typically, they can display both the current reading and a peak reading from memory of the highest level measured over a period of time.

The digital models offer the advantage of being able to observe levels that are below the alarm threshold, learn about levels that may have occurred during an absence, and assess the degree of hazard if the alarm sounds. They may also aid emergency responders in evaluating the level of past or ongoing exposure or danger of carbon monoxide poisoning.

Battery-only carbon monoxide detectors tend to go thru batteries more frequently than expected. Plug-in detectors with a battery backup (for use if the power is interrupted) provide less battery-changing maintenance.

Some CO detectors are available as system-connected, monitored devices. System-connected detectors, which can be wired to either a security or fire panel, are monitored by a central station. In case the residence is empty, the residents are sleeping or occupants are already suffering from the effects of CO, the central station can be alerted to the high concentrations of CO gas and can send the proper authorities to investigate possible carbon monoxide poisoning.

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Danger to Children-Falling T.V.'s

2009-12-21T12:28:00.000-08:00

Falling-TV deaths remain concern even amid LCD fad

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By RON TODT, Associated Press Writer – Mon Dec 14, 5:07 pm ET

PHILADELPHIA – The number of children killed or injured by fallingtelevision sets appears to have risen even as more consumers replace their clunky old TVs with lighter flat screens, studies suggest.

The reason for the rise isn't clear but could result from traditional TV sets becoming heavier and, an industry official suggests, households choosing a flat screen for their main TV and relegating old sets to rickety furniture in other rooms.

A team from the Center for Injury Research and Policy at NationwideChildren's Hospital in Ohio reviewed data from 100 emergency rooms and estimated that about 14,700 furniture-related injuries occurred each year between 1990 and 2007 — almost half due to TV sets, the most common article involved in the accidents — and resulted in about 300 deaths.

The research, published in October in the journal Clinical Pediatrics, showed that the number and rate of injuries to youngsters from falling furniture increased significantly over the period. The rate generally rose from 18.8 per 100,000 people in 1990 to 22.9 in 2007, peaking at 25.7 in 2004.

A similar report from the U.S. Consumer Product Safety Commission last year estimated 42,700 injuries and 180 deaths associated with appliance, furniture and television instability and tip-overs from 2000 to 2006; 87 of the deaths involved televisions. The number rose from seven in 2000 to 23 in 2006.

Several children have been killed or injured in recent weeks alone. A 2-year-old New Jersey boy died Dec. 7 when he tipped over a chest of drawers holding a large TV set. A 10-month-old Philadelphia boy was critically injured Dec. 10 when a television fell onto him. An 11-month-old Phoenix girl died a month ago after her 2-year-old brother pulled a television off its stand while trying to change the channel.

Other recent accidents killed a 6-year-old California girl and seriously injured a 3-year-old in Florida.

"Every day, in this country, about 40 young children are rushed to emergency departments with injuries after a heavy piece of furniture has fallen on them," said Gary Smith, director of the Ohio injury research center and a member of the team that conducted the study. "This is not a small problem; it's a common problem, and it's increasing."

Many of the injuries have involved heavy standard cathode-ray tube TVs, which are weighted to the front and can be tipped forward by a child, said Arlene Flecha, spokeswoman for the safety commission, which is doing another study following up on furniture injuries to gain more details, such as the types of televisions involved.

The burgeoning popularity of flat-screen televisions could eventually lead to fewer injuries because they are not as front-heavy, the study said.

Newer cathode sets are larger and heavier than old models. And while 53 percent of consumers now own flat-panel models, roughly half of them probably still own the older models and might be shifting them from a proper TV stand into a bedroom or other room and placing them less securely atop a table or dresser, said Megan Pollock, a representative of the Consumer Electronics Association.

Of the deaths studied by the Ohio group, 93 percent were due to dressers and TVs falling onto children, and almost all victims were 3 or younger and died of head injuries or suffocation.

For Sylvia Santiago, of West Haven, Conn., news accounts of the recent deaths reminded her of the crash that awakened her in July at a friend's home. A heavy TV set had fallen from a low stand, and it took Santiago a while to see her 2 1/2-year-old daughter lying beneath it.

"When I looked down, all I saw was her legs underneath the TV," said Santiago, 23. Her daughter, Janiyah Powe-Santiago, died a week later.

Parents should anchor heavy televisions to the wall, said Smith, the researcher, adding that anchoring devices should be sold along with TVs.

"Just like we wouldn't sell a motor vehicle without a seat belt in it, there is no safe way to put a large piece of furniture in a home where children live and play and have that be a safe environment," he said. Parents should also never put a remote control, toy or other enticing object on a TV, dresser or shelf that a child might try to reach, he said.

Pollock said the industry has been trying for years to educate consumers about the problem through public service campaigns and instructions included with TVs.

While the dangers could fade as the lighter flat panels dominate more of the market, Flecha pointed out that even some of them are "humongous" and should also be placed with care.

Santiago, now studying to be a paralegal, said she never thought about the danger posed by a heavy television set on a low stand. She said she struggled through Janiyah's birthday last month and that the approaching holidays feel like "round two."

"People think 'It will never happen to me; I'll have my child forever; something like this will never happen to my child,'" she said. "Well, it did happen to me, so I don't want anyone to think twice about securing their furniture."

Holiday Safety Tips

2009-12-03T19:07:00.001-08:00

The winter holidays are a time for celebration, and that means more cooking, home decorating, entertaining, and an increased risk of fire and accidents. InterNACHI recommends that you follow these guidelines to help make your holiday season safer and more enjoyable.

Holiday Lighting

Use caution with holiday decorations and, whenever possible, choose those made with flame-resistant, flame-retardant and non-combustible materials.
Keep candles away from decorations and other combustible materials, and do not use candles to decorate Christmas trees.
Carefully inspect new and previously used light strings, and replace damaged items before plugging lights in. If you have any questions about electrical safety, ask an InterNACHI inspector during your next scheduled inspection. Do not overload extension cords.
Don't mount lights in any way that can damage the cord's wire insulation. To hold lights in place, string them through hooks or insulated staples--don't use nails or tacks. Never pull or tug lights to remove them.
Keep children and pets away from light strings and electrical decorations.
Never use electric lights on a metallic tree. The tree can become charged with electricity from faulty lights, and a person touching a branch could be electrocuted.
Before using lights outdoors, check labels to be sure they have been certified for outdoor use.
Make sure all the bulbs work and that there are no frayed wires, broken sockets or loose connections.
Plug all outdoor electric decorations into circuits with ground-fault circuit interrupters to avoid potential shocks.
Turn off all lights when you go to bed or leave the house. The lights could short out and start a fire.

Decorations

Use only non-combustible and flame-resistant materials to trim a tree. Choose tinsel and artificial icicles of plastic and non-leaded metals.
Never use lighted candles on a tree or near other evergreens. Always use non-flammable holders, and place candles where they will not be knocked down.
In homes with small children, take special care to avoid decorations that are sharp and breakable, and keep trimmings with small removable parts out of the reach of children.
Avoid trimmings that resemble candy and food that may tempt a young child to put them in his mouth.

Holiday Entertaining

Unattended cooking is the leading cause of home fires in the U.S. When cooking for holiday visitors, remember to keep an eye on the range.
Provide plenty of large, deep ashtrays, and check them frequently. Cigarette butts can smolder in the trash and cause a fire, so completely douse cigarette butts with water before discarding.
Keep matches and lighters up high, out of sight and reach of children (preferably in a locked cabinet).
Test your smoke alarms, and let guests know what your fire escape plan is.

Trees

When purchasing an artificial tree, look for the label "fire-resistant."
When purchasing a live tree, check for freshness. A fresh tree is green, needles are hard to pull from branches, and when bent between your fingers, needles do not break.
When setting up a tree at home, place it away from fireplaces, radiators and portable heaters. Place the tree out of the way of traffic and do not block doorways.
Cut a few inches off the trunk of your tree to expose the fresh wood. This allows for better water absorption and will help to keep your tree from drying out and becoming a fire hazard.
Be sure to keep the stand filled with water, because heated rooms can dry live trees out rapidly.
Make sure the base is steady so the tree won't tip over easily.

Fireplaces

Before lighting any fire, remove all greens, boughs, papers and other decorations from fireplace area. Check to see that the flue is open.
Use care with "fire salts," which produce colored flames when thrown on wood fires. They contain heavy metals that can cause intense gastrointestinal irritation and vomiting if eaten.
Do not burn wrapping papers in the fireplace. A flash fire may result as wrappings ignite suddenly and burn intensely.

Toys and Ornaments

Purchase appropriate toys for the appropriate age. Some toys designed for older children might be dangerous for younger children.
Electric toys should be UL/FM approved.
Toys with sharp points, sharp edges, strings, cords, and parts small enough to be swallowed should not be given to small children.
Place older ornaments and decorations that might be painted with lead paint out of the reach of small children and pets.

Children and Pets

Poinsettias are known to be poisonous to humans and animals, so keep them well out of reach, or avoid having them.
Keep decorations at least 6 inches above the child’s reach.
Avoid using tinsel. It can fall on the floor and a curious child or pet may eat it. This can cause anything from mild distress to death.
Keep any ribbons on gifts and tree ornaments shorter than 7 inches. A child could wrap a longer strand of ribbon around their neck and choke.
Avoid mittens with strings for children. The string can get tangled around the child’s neck and cause them to choke. It is easier to replace a mitten than a child.
Watch children and pets around space heaters or the fireplace. Do not leave a child or pet unattended.
Store scissors and any sharp objects that you use to wrap presents out of your child’s reach.
Inspect wrapped gifts for small decorations, such as candy canes, gingerbread men, and mistletoe berries, all of which are choking hazards.

Security

Use your home burglar alarm system.
If you plan to travel for the holidays, don’t discuss your plans with strangers.
Have a trusted friend or neighbor to keep an eye on your home.

Winterize Your Home

2009-12-02T15:58:00.000-08:00

Winterize Your Home....

Test and replace batteries in smoke alarms
Fertilize lawn with organic fertilizers
Check for insect pests and treat accordingly
To check for drafts pass a lit candle around doors and windows
Drain outside faucets
Check septic system for drain field
Check fire extinguisher
Trim and remove plating around the foundation
Make sure doors seal properly
Close the damper on the fire place
Clean window treatments
Remove drafty or broken windows
Insulate your attic
Examine your house's heating ducts for leaks
Give the deck an additional coat of sealer
Check the house's foundation for cracks or gaps
Cover outside furniture
Replace loose shingles
Clean drain gutters and downspouts
Use caulking and weather-stripping around entry points for pipes and ducts that travel through an exterior wall
Replace your heater's air filter monthly
Prune shrubs
Check flue and chimney for drafting

Extending Tax Credit

2009-12-01T14:10:00.000-08:00

Frequently Asked Questions:

For existing home owners, must the house cost more than the old house? No. You just have to meet the eligibility requirements to receive the tax credit.

What is the purchase price limit for a move up buyer, regarding the 6500 dollars? 800,000 is the absolute highest you can go in order to receive the tax credit.

If I owned a home for 10 years or more and I sold it two years ago (renting currently), am I still eligible for the tax credit? Yes. If you lived in the home for five consecutive years of the previous eight, you qualify. The thing that matters the most is living in a house for five consecutive years.

I hope this was helpful....

Will Your Thanksgiving Turkey Tip Over Your Oven?

2009-11-19T09:05:00.001-08:00

Will your Thanksgiving turkey tip over your oven?

Anti-Tip Brackets for Freestanding Ranges

By Nick Gromicko, Rob London and Kenton Shepard

Anti-tip brackets are metal devices designed to prevent freestanding ranges from tipping. They are normally attached to a rear leg of the range or screwed into the wall behind the range, and are included in all installation kits. A unit that is not equipped with these devices may tip over if enough weight is applied to its open door, such as that from a large Thanksgiving turkey, or even a small child. A falling range can crush, scald, or burn anyone caught beneath.

You can confirm the presence of anti-tip brackets through the following methods:
It may be possible to see a wall-mounted bracket by looking over the rear of the range. Floor-mounted brackets are often hidden, although in some models with removable drawers, such as 30" electric ranges made by General Electric, the drawers can be removed and a flashlight can be used to search for the bracket. Inspectors should beware that a visual confirmation does not guarantee that the bracket has been properly installed.

You can firmly grip the upper-rear section of the range and tip the unit. If equipped with an anti-tip bracket, the unit will not tip more than several inches before coming to a halt. The range should be turned off, and all items should be removed from the stovetop before this action can be performed. It is usually easier to detect a bracket by tipping the range than through a visual search. This test can be performed on all models and it can confirm the functionality of a bracket.
If no anti-tip bracket is detected, it is recommend that one be installed.

Clients can contact the dealer or builder who installed their range and request that they install a bracket. For clients who wish to install a bracket themselves, the part can be purchased at most hardware stores or ordered from a manufacturer. General Electric will send their customers an anti-tip bracket for free.

According to the U.S. Consumer Product Safety Commission (CPSC), there were 143 incidents caused by range tip-overs from 1980 to 2006. Of the 33 incidents that resulted in death, most of those victims were children. A small child may stand on an open range door in order to see what is cooking on the stovetop and accidentally cause the entire unit to fall on top of him, along with whatever hot items may have been cooking on the stovetop. The elderly, too, may be injured while using the range for support while cleaning.

In response to this danger, the American National Standards Institute (ANSI) and Underwriters Laboratories (UL) created standards in 1991 that require all ranges manufactured after that year to be capable of remaining stable while supporting 250 pounds of weight on their open doors. Manufacturers' instructions, too, require that anti-tip brackets provided be installed. Despite these warnings, retailer Sears estimated in 1999 that a mere 5% of the gas and electric units they sold were ever equipped with anti-tip brackets. As a result of Sears’ failure to comply with safety regulations, they were sued and subsequently required to secure ranges in nearly 4 million homes, a measure that has been speculated to have cost Sears as much as $500 million.

In summary, ranges are susceptible to tipping if they are not equipped with anti-tip brackets.

Holiday Safety Tips

2009-11-17T06:42:00.000-08:00

Tips To Make Your Holiday A Safe Time For Your Family

Trees

Many artificial trees are fire resistant. If you buy one, look for a statement specifying this protection.

A fresh tree will stay green longer and be less of a fire hazard than a dry tree. To check for freshness, remember:

A fresh tree is green.

Fresh needles are hard to pull from branches.

When bent between your fingers, fresh needles do not break.

The trunk butt of a fresh tree is sticky with resin.

When the trunk of a tree is bounced on the ground, a shower of falling needles shows that tree is too dry.

Place tree away from fireplaces, radiators and other heat sources. Heated rooms dry trees out rapidly, creating fire hazards.

Cut off about two inches of the trunk to expose fresh wood for better water absorption. Trim away branches as necessary to set tree trunk in the base of a sturdy, water-holding stand with wide spread feet. Keep the stand filled with water while the tree is indoors.

Place the tree out of the way of traffic and do not block doorways. Use thin guy-wires to secure a large tree to walls or ceiling. These wires are almost invisible.

“Snow”

Artificial snow sprays can irritate lungs if inhaled. To avoid injury, read container labels; follow directions carefully.

Lights

Indoors or outside, use only lights that have been tested for safety. Identify these by the label from an independent testing laboratory.

Check each set of lights, new or old, for broken or cracked sockets, frayed or bare wires, or loose connections. Discard damaged sets or repair them before using.

Fasten outdoor lights securely to trees, house, walls or other firm support to protect from wind damage.

Use no more than three standard-size sets of lights per single extension cord.

Turn off all lights on trees and other decorations when you go to bed or leave the house. Lights could short and start a fire.

Never use electric lights on a metallic tree.

The tree can become charged with electricity from faulty lights, and any person touching a branch could be electrocuted! To avoid this danger, use colored spotlights above or beside a tree, never fastened onto it!

Keep “bubbling” lights away from children. These lights with their bright colors and bubbling movement can tempt curious children to break candle-shaped glass, which can cut, and attempt to drink liquid, which contains a hazardous chemical.• • • • •

CPSC

FAll & WINTER MAINTENANCE TIPS

2009-11-10T18:02:00.000-08:00

Fall Maintenance Tips

Check smoke detectors & carbon monoxide detectors by pressing the test button. Be sure to change the batteries at the same time. Both smoke and carbon monoxide detectors are available at your local home store. Contact your local fire department for recommendations.
Prepare your furnace for the upcoming heating season. Consider calling a reputable local heating and cooling company to check your furnace, clean it, and prepare it for the upcoming winter. Keeping the furnace in good working condition will help reduce your heating bills and help avoid serious problems.
Replace or clean your furnace filter. This will keep the air in your house cleaner, make your furnace more efficient, and help lower your heating bills.
Clean out gutters and downspouts. Inspecting gutters and downspouts for debris and fallen leaves can reduce the chances of an ice dam forming. An ice dam can cause leaks that will result in interior damage to your ceilings and walls. After you've cleared as many leaves as you can from your gutters, you can spray water down the downspouts to wash away any other debris. Gutter screens can help reduce the number of leaves that collect in your gutters. Exercise extreme caution when working on a ladder or on the roof.
Run all gas-powered lawn equipment until the fuel tank is empty. Gasoline left in the tank loses its volatile components over the winter, making your mower hard to start in the spring. By draining the tank, you are also removing flammable liquid storage from your garage. Make sure you aren't storing dirty, oily rags in a pile. They can ignite spontaneously.

Winter Maintenance Tips

Make sure all electrical holiday decorations have tight connections. If possible, use 3-prong plugs and cords. The use of 2-prong adapters, which permit 3-prong plugs to be used in 2-prong outlets, doesn't always provide grounding to protect against shock. Unplug decorations when not in use. The use of extension cords should be temporary. To help reduce the chances of overheating, electric cords, including extension cords, should never be bundled together or run under rugs and carpet.
Replace or clean your furnace filter. This will keep the air in your house cleaner, make your furnace more efficient, and help lower your heating bills.
If your home has a programmable thermostat, set it for reasonable times and temperatures, i.e. reduce the heat slightly for night time hours, about 4 to 5 degrees cooler than your daytime temperature. If you don't own a programmable thermostat, consider having one installed; they do help reduce heating costs.
In the event of snow, be sure to keep the area around your airconditioning unit clear of snow. Even though you aren't using your A/C, you don't want the lines to freeze or be damaged. If you are using a shovel, BE CAREFUL when clearing the area around the unit. You don't want to make things worse.
When warming up your car in cold weather, please be sure the area is well ventilated.

Extending Tax Credit For Military Personnel

2009-11-10T14:46:00.000-08:00

Military Tax Credit- HR3590 will allow eligible military personnel, foreign service and intelligence officers to apply for the $8,000 tax credit for one year beyond it's current November 30Th deadline. Those meeting the requirements for the credit must also be serving overseas or have spent at least 90 days deployed outside of the country during the current calendar year.

Extension of Homebuyer's Credit

2009-11-05T11:59:00.000-08:00

The Senate has voted last night (11/4) to extend and expand a popular tax credit for homebuyers that was scheduled to expire Nov. 30. The House is expected to schedule a quick vote on the bill as early as today 11/5 as part of a package that also extends unemployment benefits for people out of work more than a year. The White House indicated that the President will sign the legislation. (ETA would be tomorrow or early next for this to be official as long as it passes the House)

How the homebuyer tax credit would work:

· Tax credit: Ten percent of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers who purchase between December 1, 2009 and May 1, 2010. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000.

· Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30.

· Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010.

· Income limits: Individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.

· How to apply: Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.

· New anti-fraud limitations imposed.

· Cost: $10.8 billion.

Source: Bloomberg Press and Associated Press and confirmed information with the content of the Senate bill

$8,000 Tax Credit Extended and Revised

2009-11-04T20:23:00.000-08:00

Homebuyer tax credit extension passed by the Senate

New homebuyers were treated to some wonderful news today when the Senate approved an extension of the New Homebuyer $8000 credit for contracts signed by April 30^thand closed by June 30^th. It was an overwhelming 98 to 0 vote for the action as it heads to the House of Representatives.

Thats not all. Thus far the Homebuyer Credit only applied to first time homebuyers. The new legislation created a $6,500 tax credit for those have already owned a home for the one of the past five years. Now it applies to homebuyers who have owned a home in one of the past five years.

If you are reading this post and are considering purchasing a home this might provide some valuable assistance.

Its an incredible time to purchase your new home. We have seen some incredible price opportunities throughout our market. Interest rates are at some of the lowest we have seen. If things couldnt be more attractive, this new Senate legislation creates a $6,500 additional reason that todays market couldnt be more attractive for buyers.

If you are interested in learning more about this new incentive and how you might qualify for either the first time buyer incentive or the new existing home buyer credit please give us a call today at 303-868-0757 or 303-921-5420. We are here to help you understand how these new changes will help you.

Link to CNN Story

The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The Senate's bill also created a $6,500 credit for those who buy a home after owning one for the last five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

2009-10-27T10:12:00.001-07:00

Dow Crosses Above 10,000

Stronger than expected economic data, solid earnings reports, and upward revisions to the Fed's growth forecast propelled the Dow stock index above the 10,000 level for the first time since October 2008. However, these same factors were unfavorable for mortgage rates, and they ended the week modestly higher.

This week's economic data mostly surprised to the upside. With the end of the Cash for Clunkers program, Retail Sales declined, but by less than expected. Excluding autos, Retail Sales rose on a monthly basis. Industrial Production showed a nice increase, and the Empire State regional manufacturing index jumped to the highest level since May 2004. Weekly Jobless Claims fell to the lowest level since early January, indicating some improvement in the labor market.

On Wednesday, the minutes from the September 23 Fed meeting were revealed. At that meeting, the Fed announced that there would be no change in the size of the $1.25 trillion mortgage-backed securities (MBS) purchase program, but that it would be extended from the end of the year to the end of the first quarter of 2010. The purpose of the longer time frame was to gradually wind down the program and minimize disruptions to MBS markets, which heavily influence mortgage rates. The Fed minutes released this week showed that the MBS purchase program was one of the primary areas of discussion at the Fed meeting. Some Fed officials argued in favor of expanding the size of the MBS purchase program to stimulate the housing market and the overall economy, but the majority decided against it. Based on the minutes, it appears very unlikely that the Fed will change its announced position and increase the scope of its MBS purchases, unless the economic outlook deteriorates significantly.

Also Notable:

September Core CPI inflation rose at a tame 1.5% annual rate
Oil prices rose to $78 per barrel, the highest level of the year
The Dow stock index moved above the 10,000 level for the first time in a year
The Fed purchased $16 billion in agency MBS during the week ending 10/14

Average 30 yr fixed rate:
Last week:	+0.05%
This week:	+0.15%

Stocks (weekly):
Dow:	9,950	+100
NASDAQ:	2,150	+25

Week Ahead

Housing data will be in the spotlight next week. Housing Starts will be released on Tuesday, and Existing Home Sales will come out on Friday. The Producer Price Index (PPI) inflation data will also be released on Tuesday. The Fed's Beige Book is on the schedule for Wednesday. In addition, the Treasury will announce the size of upcoming Treasury auctions on Thursday.

U.S. Economy Recovery On Track

2009-10-27T09:30:00.000-07:00

THURSDAY, OCTOBER 22, 2009

“U.S. Economic Recovery on Track”

While we await the results of the possible expiration, extension or expansion of the $8,000 first time home buyer tax credit, one thing is for sure, the economy is moving forward in full force—which is driving consumer confidence. Earlier this week, Reuters.com ran a very interesting story on the U.S. economic recovery and the result was very encouraging. Among the story’s highlights:

“The U.S. economy is firmly poised for a recovery from its deep recession but growth may be moderate and the job market will not revive immediately, senior White House aide Lawrence Summers predicted on Wednesday.”
“On the economy, Summers said the $787 billion stimulus package and inventory rebuilding by businesses were among the “dominant drivers” lifting the economy.”
“It will be some time before unemployment starts to decline. Once it declines it will take a long time to return to normal levels, given how elevated it is…The jobless rate is now at a 26-year high of 9.8 percent.”
“Most private economists think the recession, which began in December 2007, ended in the third quarter. But there is much disagreement about the path to recovery.”
“Some see above-average growth continuing through next year, arguing that deep recessions are typically followed by powerful recoveries, helped along by pent-up demand as consumers and companies resume spending.”

Obviously this is welcome news for the economy which ultimately benefits the local housing market. What I can tell you is that I am encouraged by the progress we are making in the real estate market. We’re beginning to see more days of progress than days of back stepping. We’re watching sales activity and consumer sentiment and we are expecting over the coming months a moderate to a more sustainable pace and we will probably see a modest rise in housing prices in the coming year. Will it be the double digit appreciation we saw in the earlier part of the decade? Probably not. But this new normal (as we’re calling it) is much more sustainable and a much healthier path to build upon. It makes me excited about the future and gives us all hope for a relatively modest and productive 2010.

Now, let’s take a look at this week in real estate:

Boulder/Longmont—The Boulder office reported Boulder county showed a small shift in the right direction over the past week. New listings were down by about 7% with sales up 9%, so we have inventory headed down again. Although most of this was in the lower price ranges, there was a small flurry of sales over $800,000 including one at $2,750,000! Our Agents report multiple offers on bank owned properties. Showings on our listings remain steady with a 1% increase over the past week.
Evergreen/Conifer—Evergreen reported we had a total of four new listings for the week. Three listings went under contract during the past week, two of these were out of state buyers. Two buyers went under contract, both on short sale properties. There were a total of 64 showings during the week. Conifer reported we had only one new listing during the week. Four of our current listings were put under contract, two were REO properties and one was a short sale. None of our buyers were put under contract. The number of showings decreased to 22 for the week.
Denver Central – No information reported.
Devonshire— No information reported.
Douglas County—Our Southwest Metro office reports showings increased a little this past week. We did have several successful open houses and three great floor calls. Our Agents are very busy working with buyers and the market continues to be picking up for sellers and buyers both. Inventory continues to be low especially in the $150,000 range. Most are first time buyers trying to take advantage of the tax credit and sellers are starting to realize that this is a good time to list their home. We're working hard to get our sellers to list their homes now and not wait until the beginning of the year.
El Paso County—Colorado Springs reports although the showing activity has decreased by 15% over the last week, the number of properties under contract has tripled mainly because of the looming deadline for the first time buyer tax credit program. Therefore our listing inventory has decreased slightly as well. With the changing weather we expect the sales activity to slow down drastically, especially if the tax credit program is not going to be extended. The number of multiple offers on Power Priced listings has gone down drastically, which is an indication that most of the "great deals" are off the market.
Larimer County— Showings are down significantly last week as well as under contract homes in Fort Collins/Loveland. This is most likely a seasonal decline and is to be expected. On the plus side, we had an increase of new inventory coming on to the market and several homes were subject to multiple offers. Multiple offer situations are a great sign for sellers, as this situation typically gets an above listing price contract. To create a multiple offer situation you need to have three primary things going for your listed property - price, condition and location. These three items make for a perfect storm that will entice buyers to compete for your home. Finally, don't forget, only 40 days until the 1st time home buyer tax credit runs out!
North Metro— Even though it is October and the weather has been quite cold, we've not seen a slow down in activity. The Agents continue to list properties with an increase in average sales price of $267,000. The buyers wanting to take advantage of the tax credit are out looking, but properties under $250,000 are going quickly with multiple offers. It is a great time for seller's to get their homes on the market. With inventory low, their will be less competition for buyers.
Parker –The seasonal changes are showing their signs in number of showings and transactions. The activity has slowed down some more over the last week however. Web traffic is very steady and the number of leads on our listings from the internet is increasing. Our affiliates (Title & Mortgage) are preparing for a peak of business during November because of the tax credit deadline on the 30th. Agents are preparing for our next Client Appreciation Event coming up on December 6th. Free Holiday Photo.
Southeast Metro— The heat is on! First time home buyers who are looking to take advantage of the $8000 tax credit are storming the market! We're seeing an increase in the already fierce competition for all properties priced below $225,000. Last week we had one listing that had 105 showings in six days! That has to be some kind of record! And by the way, that same property received 45 offers! It's still a great time to buy, whether or not a buyer qualifies for the tax credit. Open houses are still enjoying lots of traffic in several price ranges.
West Lakewood— No comments provided.

This week I’ll conclude with a few articles of interest:

What Housing Bust?; CNN Money
Housing Tax Credit Working, So Keep Momentum Going, NAR Urges Congress; Realtor.org
Shape Of The Housing Recovery; CNBC
Real Estate Outlook: Mixed Signals; Realty Times

Online Learning for Real Estate Investors

2009-10-27T09:17:00.001-07:00

Denver-area lawyer providing online learning for real estate investors

William Bronchick, a lawyer and real estate investor, is creating a college for real estate investors.

William Bronchick, a Denver-area real estate lawyer and veteran real estate investor, knows that people who buy and sell homes and other properties sometimes have a reputation as being scam artists, who will take advantage of down-and-out sellers that will do anything to make a buck.

“Look, there are bad apples in every line of work,” Bronchick, the president of the 1,550-member Colorado Association of Real Estate Investors and the principal of Legalwhiz Publications said.

“But I think that real estate investors are often unfairly portrayed as vulture or unethical,” added Bronchick, who in addition to being a real estate lawyer, has been buying investment properties for about 20 years, including 12 purchases in the Denver-area this year.

To combat the negative image, and improve the quality of real estate investors, this weekend Bronchick is officially launching an online program called the College of American Real Estate Investors. In the first year, he hopes to have 5,000 people participating, with maybe 1,500 from Colorado. He plans to pitch CAREI to investment clubs nationally. He officially unveiled the college at 1 p.m. Saturday at a real estate investment club meeting at the Crowne Plaza Conference Center Hotel – DIA, 15500 E. 40th Ave.

It takes 12 hours of course work and to sucesfully complete an exam, to be certified by the college, which is not affiliated with any university. Classes required for certification include ethics, cash flow analysis, property management, tax strategy, foreclosure laws, and contracts. CAREI classes are offered individually at $29 for members or $49 for non-members plus a $69 annual enrollment fee.

Eventually, the college will offer more than 100 programs, he said. And he plans to have at least one streaming video on a topic available each month. Also, interactive classrooms will be available, where instructors can be questioned over the Internet. For more information: CAREI.org.

To help combat this image – and to help independent real estate investors gain knowledge – Bronchick has launched the online College of American Real Estate Investors. The college provides certification to independent real estate investors, helps them master fundamentals of buying properties, and help repair the negative image of the industry by establishing clear ethical guidelines.

Those certified also will agree to adhere to a code of ethics.

“We think integrity matters,” Bronchick said.

He noted that the CAREI has an advisory board and they will review any cases of someone violating the code. And if fraud or any other malfeasance seemed to be taking place, “We would absolutely turn them over to the authorities. We’re going to be sort of like a better business bureau for real estate investors.”

He said he thinks that investors who take his course will be similar to real estate brokers who also are members of the National Association of Realtors.

“There are real estate agents and there are Realtors,” Bronchick said. “Realtors must agree to the code of ethics of the National Association of Realtors, a private organization.”

Bronchick thinks that graduates of his college will have a certain cachet that others will not have. And because of the continuing education, people dealing with them can have more confidence that they are professionals, he said.

“I think we will attract two kind of people,” he said. “There will be the mom and pop investor, who might buy the occasional foreclosed home either to fix or flip, or rent out. But I think we will also attract the people who are investing in real estate for a living, and want to improve theirs skill sets and knowledge base. I think we will even attract seasoned veterans who might own big multi-family properties or shopping centers.”

I asked Bronchick if he would like to see real estate investors licensed, like real estate brokers and mortgage bankers.

“That is something I never thought of,” Bronchick said. “I’m not sure we have to have the heavy hand of government involved. And by launching this, we are in some ways self-regulating our industry, which could lead to less need for government regulations. I’m not totally opposed, I guess, to some level of government involvement. And it does exist to a certain extent, such as when you pull permits. And if you use a real estate agent or a mortgage broker, they are regulated, of course. And if you are soliciting money to buy real estate, you fall under the state securities rules and regulations.”

Home Sales Surge

2009-10-27T09:11:00.000-07:00

Existing Home Sales Surge

There were few major surprises in the economic news this week, and little change in the stock market. While there was a great deal of daily volatility, mortgage rates ended the week nearly unchanged.

A flood of housing market data was released during the week, and most of it reflected improvement in the sector. The biggest unexpected news came from the September Existing Home Sales report, which jumped 9% from August to the highest level since July 2007. Inventories of unsold existing homes dropped sharply to a 7.8-month supply from a 9.3-month supply in August. This marked the lowest inventory levels in two and one-half years. September Housing Starts remained at depressed levels, which removes pressure on future inventory levels. Building Permits, a leading indicator, also held at low levels. In short, home sales improved, while inventory levels moved lower with a relatively light supply of new homes in coming months. If there is a note of caution, though, it's that much of the activity has been spurred by exceptionally low mortgage rates and the first-time homebuyer tax credit, and the future is uncertain on both fronts. The Fed is scaling back its purchases of mortgage-backed securities, which might push mortgage rates gradually higher, and lawmakers are currently debating whether to extend the first-time homebuyer tax credit.

The Mortgage Bankers Association (MBA) also released its forecasts for this year and next. According to the MBA projections, purchase originations will decline slightly in 2009, but will then increase by 12% in 2010. Similarly, the MBA forecasts that existing home sales will rise by 11% in 2010. The chief economist of the MBA suggested that the timing of the economic recovery and the level of mortgage rates are the biggest variables influencing the results for 2010.

Also Notable:

September Core PPI inflation rose at a tame 1.8% annual rate
The Fed's Beige Book reported modest improvement in "many sectors" of the economy
The Treasury will auction a record $116 billion in 2-yr, 5-yr, and 7-yr securities next week
The Fed purchased $18 billion in agency MBS during the week ending 10/21

Average 30 yr fixed rate:
Last week:	+0.15%
This week:	+0.01%

Stocks (weekly):
Dow:	10,000	+50
NASDAQ:	2,160	+10

Week Ahead

The final week of October will be packed with important economic data. The most highly anticipated will be Thursday's release of third quarter Gross Domestic Product (GDP), the broadest measure of economic activity. Durable Orders, another major indicator of economic activity, will come out on Tuesday. The New Home Sales report is scheduled for Wednesday. Chicago PMI, Personal Income, and Core PCE inflation will be released on Friday. Consumer Confidence and Consumer Sentiment will round out the busy week. In addition, the Treasury will auction a record $116 billion in 2-yr, 5-yr, and 7-yr securities on Tuesday, Wednesday, and Thursday.

Recent Housing Upturn

2009-10-27T09:06:00.000-07:00

Recent Housing Upturn Sparked By Buyer Leverage

The latest S&P/Case-Shiller home price index reveals home price for 10 major cities rose 3.6 percent between April and July. So does this recent uptick in the housing market mean we are on the cusp of a housing boom?

I hate to burst your bubble but probably not. In all likelihood, the recent upturn in the housing market has been sparked by several competing factors:

The impending expiration of the $8,000 first-time home buyer tax credit

The recent uptick in the stock market

Increased consumer confidence

Continued low interest rates

Essentially, buyers are playing a leverage game. They’re watching the economic indicators and trying to determine the best time (for them) to buy. It seems many are now pulling the trigger which is causing sales figures and prices to go up.

Will it last? It’s tough to say. Right now we’re in a slightly unique position because some of the stimulus packages that the government instituted are working which may be causing a false front for the overall economy. The stock market is up. Consumer confidence is on the rise. The housing market is up. All of those are pointing to some current benefits in the market.

But, the fundamentals themselves haven’t changed. Foreclosures remain a major issue for our economy. And unemployment remains a major challenge. Until those two areas of the economy fully recovery, we may see continued economic volatility.

What I can say is I think the worst of the housing market’s problems are probably behind us. But the road ahead isn’t completely clear. One major factor that stands in our way is the impending expiration of the first time home buyer tax credit. This credit has helped to drive much of our recovery. But right now the debate on Capitol Hill continues and everyone is waiting to learn whether the credit will be extended, expanded or will it simply expire. Many on the opposing side believe it is too costly to finance. But NAR had this to say: “Each home sale pumps an additional $63,000 into the economy through related goods and services, so the benefits of extending and expanding the tax credit far outweigh the costs.”

If the opposing side gets their way and the credit simply expires, NAR had this to say: “All we can say for certain is sales will decline when the tax credit expires because we are not yet on a self-sustaining recovery path. It also raises a risk of a double-dip recession. Extending and expanding the tax credit is the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit.”

So there you have it. We’re in a state of flux as we await the results of the credit. As that debate continues, buyers seem to be leveraging today’s market advantages which is creating a welcome relief for our local market. Let’s just hope the leveraging opportunities continue.

Now, let’s take a look at this week in real estate:

Boulder/Longmont—The Boulder office reported sales and listing activity were up very slightly in Boulder County last week both about 3%. Showings were down slightly, about 5%. A check of inventory in Boulder County over the past three months shows a disturbing trend. 297 new listings in July, 362 new listings in August and 395 in September. We'll see if the upward trend continues in October.

Evergreen/Conifer—Evergreen reported we had two new listings for the week. Two of our listings went under contract. We had 61 showings during the week. Conifer reported there were no new listings during the week. No listings or buyers were put under contract. Showings decreased to 29 for the week.

Denver Central – There has been an increase in 1st time home buyers looking for property and wanting to take advantage of the tax credit. The deadline has been extended for military service individuals. Since there has been an increase in buyers taking advantage of this credit we've seen an inventory shortage for homes under $200,000. We have also seen an uptick in the average sales price and we attribute that to more move-up buyers entering the marketplace. We continue to have low inventory levels in the Denver Metro market. The inventory is substantially lower than its highpoint in 2007. We're very excited about the future of real estate in Denver. Showings are continuing to increase year over year.

Devonshire— We seem to be on the upward swing this week with showing activity picking up and buyers more active in the market. The cold weather seemed to motivate sellers to adjust their prices and for buyers to get down to business and put offers on the table. Perhaps that with the holidays fast approaching some momentum has been created. Sellers need to remember to keep their yards manicured so that buyers can see the landscaping under the leaves. Keeping gutters empty and leaves raked up makes the buyer feel that the home is well cared for & in good condition. Interest rates are still very appealing and there is still time to take advantage of the tax credit incentive. We're feeling optimistic about the rest of October and November.

Douglas County—Our Southwest Metro office reports showings were down this past week, though we did see an increase in listings and many of our Agents reported that they had listing appointments as well. We're seeing 1st time buyers ready to take advantage of the low interest rates and the $8000 credit before it expires. Several Agents have reported that buyers are not finding the inventory as high as it was a couple of months ago and the quality of the selection is not as good. We're working hard to have our potential sellers list now rather than wait until next year especially with inventory low.

El Paso County—Colorado Springs reports last week was the 1st sign of a slow market facing the upcoming Fall and Winter season. The last few buyers got under contract to close before the tax credit deadline of November 30th. A Coldwell Banker call for action was answered by countless real estate professionals from various companies in order to encourage our representatives to extend and expand the tax credit program. We hope that the call will be answered and atleast the deadline will be extended.

Larimer County—The Fort Collins/Loveland offices reported new listings are up in Northern Colorado and showings are also up nearly 10% from the previous week. We're seeing an increase of bank owned homes in the last month and there are certainly some good deals. These homes are priced as high as $1,500,000 all the way down to $65,000. The boost in home showings seem to be coming from 1st time buyers looking to take advantage of the tax credit. Many of these new lower priced bank owned properties are already under contract. The move up buyer that has been sitting on the sideline is also getting involved somewhat as undervalued homes are being purchased. For example the bank owned home referenced above for $1,500,000 was previously listed for $3,200,000!! There are good deals to be had, so get out and find a new home today!

North Metro—The overall activity for the North area has picked up again, which is important as we move into the fourth quarter. Our listings have continued to pick up as well. This last week we are averaging 6 to 7 listings per day. At the same time, the sales have increased from 3 to 4 per day to between 5 and 6.

Parker— The showing activity continues to be steady and the sales activity is stable as well. The listing inventory is also constant as supply and demand seem to be more balanced in most neighborhoods and price ranges. The high end market is still very slow and on some listings about $1,000,000 we see no traffic at all. We are very excited about a big food drive our Agents are organizing and we are overwhelmed by the participation of the entire community.

Southeast Metro— October is shaping up to be a great real estate month at our DTC office! We have 154 properties scheduled to close and sellers are enjoying an increase in buyer activity. Even with the colder weather, we're averaging over 500 showings a week so far for the month. The luxury home market is also seeing an uptick in traffic as 20% of our luxury home listings are currently under contract.

West Lakewood— As you can imagine, with the 1st time homebuyer tax credit deadline nearing, agents are extremely busy showing properties to these excited buyers. We see multiple offers on many homes. There were numerous under contracts in the past week on homes that have been on the market less than thirty days. We see that investors are still very active in the market as well.

This week I’ll conclude with a few story highlights:

HYPERLINK "http://www.reuters.com/article/pressRelease/idUS110331+13-Oct-2009+BW20091013" USAA Praises Biggert Bill To Extend First-Time Homebuyers Tax Credit; Reuters

HYPERLINK "http://www.marketwatch.com/story/home-buyer-tax-credit-renewal-very-close-mba-2009-10-12" Hopes Run High For Tax-Credit Expansion; MarketWatch

HYPERLINK "http://realtytimes.com/rtpages/20091012_washingtonreport.htm" Washington Report: $8,000 Home Buyer Tax Credit; Realty Times

Shadow Market Poised To Increase Denver Inventory

2009-10-27T08:43:00.000-07:00

Shadow market poised to increase Denver housing supply by 78 percent

The so-called “shadow market” of homes that are not yet on the market is poised to increase the inventory of unsold homes in the Denver area by 78.3 percent, according to a new report.

The shadow market in the Denver area is 13,888 homes, according to the Amherst Mortgage Insight report released by Austin-based Amherst Securities Group, which puts the total inventory – including the shadow market – at 31,618 unsold homes, based on data from Trulia.com. The shadow market, as defined by Amherst, are homes that are in or facing foreclosure, but are not yet on the market. Others also include homes that are being rented, often for less than the mortgage amount, because the owners are unable to sell them for a profit, but plan to sell them when they think the market is starting to recover.

“We keep hearing about this shadow market, but this is the first real quantification I have heard of,” said Tom Cryer, a broker with the Kentwood Co. “This report takes the shadow market from being something of an urban myth, to something that really exists. I do not see anything that could dispute it.”

If the shadow market could add almost another 14,000 homes to the Denver-area market, that could slow the recovery of the low-end homes that seem to be stabilizing and even appreciating, Cryer said.

In August, there were 24,648 unsold homes on the market in Denver area, 20 percent fewer than a year earlier, according to a separate analysis of Metrolist data by independent broker Gary Bauer.

One way to look at it, is that the shadow market would bring the supply more in line with its historical levels.

“But we have such a low sales rate,” that people are not putting their homes on the market, keeping the inventory low, said Mike Rinner, of the Genesis Group, which tracks housing along the Front Range.

Nationwide, the shadow market is 7 million homes, equating to a 1.35-year of inventory, according to Amherst.

“The single largest impediment to a recovery in the housing market are the number of loans that are either in delinquent status or in foreclosure, destined to liquidate,” according to the report.

“This creates a huge shadow market,” the report notes.

More bad news could be on the horizon, despite recent positive trends, such as reported in the S&P/Case-Shiller report, which found that most of the 20 statistical areas had shown a month-to-month increase from July to August.

The Amherst report analyzed the 20 cities in the S&P/Case-Shiller report, including Denver. It found that only six cities – led by Las Vegas, had a larger shadow market, as a percentage of the total inventory, than Denver. In Vegas, the total shadow market accounts for a 315 percent increase over the number of actual listings.

And the shadow market could become an even larger problem.

The Amherst report notes that “to the extent that there is more home price depreciation (causing higher volume of defaults), the problem could escalate.”

Mike Rinner, of the Genesis Group, a local company that tracks housing along the Front Range, said the report “makes a strong case that the other shoe (of foreclosures and depressed pricing) is waiting to drop.”

However, he added you always wonder how good the research is of “experts from looking from afar.”

Still, the report attempts to quantify the shadow market, which is valuable for predicting the direction of the market.

“Probably the most interesting thing to come out of it, is that we do have an excess supply that isn’t frequently recognized,” Rinner said.

But he said there is a saving grace, which may help to mitigate the blow of the shadow market.

“We do have a pent-up demand,” of buyers who want to take advantage of low-interest rates and low home prices, he said.

Even though unemployment is high by historical standards, 93 percent of the people in the Denver metro area still have jobs, he said. The main thing that keeps people from taking advantage of the housing market is concerns about their jobs, he said.

“Over time, as that starts to go away and people feel more comfortable, and unemployment starts to fall or stabilize, people will start entering the market again,” Rinner said. “The excess supply will get used up.”

On the other hand, as the Denver-area population ages, that older demographic is not as likely to move as quickly as younger buyers do, who are forming and growing families, he said.

However, as builders construct greener, more sustainable homes, and owners retrofit homes with green features, that could increase the demand, he said.

Amherst, in its report, said that more needs to be done to lessen the impact of the shadow market.

“We believe that the housing overhang is the single large issue inhibiting a housing recovery,” according to the report. “We are concerned that, in light of this overhang, the housing market , stabilization is temporary based on seasonal factors, and prices can deteriorate further. We believe

a more permanent stabilization must await some resolution of the shadow inventory.”

Economic Data Falls Short

2009-10-04T20:50:00.001-07:00

Economic Data Falls Short

After several weeks of economic announcements generally exceeding forecasts, weaker than expected labor and manufacturing data, along with comforting comments from Fed officials about inflation, helped mortgage markets this week. Reacting to the data, investors shifted funds out of the stock market and into bond markets, and mortgage rates ended the week at the lowest levels since May.

The Employment report, the biggest economic report of the month, was a little weaker than expected. Against a consensus forecast of -175K, the economy lost -263K jobs in September, and the revisions to prior months were negative as well. The Unemployment Rate was 9.8%, the highest level since June 1983. Average Hourly Earnings, a proxy for wage growth, increased at a modest 2.5% annual rate. The length of the average work week declined.

In addition to the release of important economic data, several Fed officials delivered speeches during the week. What emerged was a good amount of disagreement over how soon they expect to need to tighten monetary policy. Some officials expressed concern that the time to begin to remove stimulus is close, while others see it as much farther down the road. There was a general consensus, though, that the Fed will be required to raise the fed funds rate while unemployment remains high. When the Fed eventually does indicate that rate hikes are imminent, the immediate reaction for mortgage rates is likely to be a move higher.

Inflation and Mortgage Rates Remain Low

2009-09-20T19:24:00.001-07:00

Inflation and Mortgage Rates Remain Low

A wide range of major economic data released during the week and comments from the Fed reinforced the consensus outlook for the economy. Economic growth appears to be on track for gradual improvement, while inflation is not a concern in the short-term. With few surprises this week, mortgage rates ended the week nearly unchanged.

The economy is currently experiencing moderate economic growth with low inflation. In a speech on Tuesday, Fed Chief Bernanke indicated that the recession is "very likely over". Retail Sales and Industrial Production showed nice increases this week. Housing Starts, Building Permits, and Homebuilder Sentiment also moved higher. Meanwhile, there have been few signs of inflation in the short-term. For example, Core CPI rose at a modest 1.4% annual rate, the lowest annual rate since February 2004. Tame inflation readings have helped mortgage rates stay at low levels.

Recently, the Fed has been purchasing about $25 billion of mortgage-backed securities (MBS) each week, which represents a very high percentage of the average new issues. At this pace, the Fed will purchase the entire $1.25 trillion authorized for the program by the end of the year, when it's currently scheduled to discontinue its MBS purchases. On Wednesday, at the conclusion of next week's Fed meeting, investors will be hoping to receive an update on the MBS purchase program. The majority outlook is that the Fed will purchase the full $1.25 trillion and end the program, possibly by gradually reducing the level of weekly purchases and extending them into next year. Still, a significant number of investors expect the Fed to increase the limit, while others think the Fed will end the program early. Since mortgage rates are largely determined by MBS prices, changes in the level of demand from the Fed could have a large impact.

Fall Maintenance Tips For Your Home

2009-09-20T18:28:00.000-07:00

Chilly fall temperatures serve as a polite reminder that when winter arrives it can be sudden, often leaving homeowners unprepared for the troubles associated with extreme cold. A few simple preparations now will help prevent headaches and costly repairs throughout the winter months.

Fall Maintenance Tips For Your Home:

Replace smoke and carbon monoxide detector batteries.
Have the heating and water heater systems cleaned and serviced.
Replace or clean exhaust furnace filters.
Have chimneys inspected and cleaned. Ensure that rain caps and vermin screens are secured.
Examine the roof for evidence of damage to roof coverings, flashings and chimneys. Clean the gutters and check the discharge locations of the downspouts.
Survey the basement and/or crawl space walls for evidence of moisture seepage.
Look in the attic (if accessible) to ensure that roof vents are not obstructed. Check for evidence of leakage, condensation or vermin activity. Level out insulation if needed.
Trim back tree branches and shrubs to ensure that they are not in contact with the house.
Inspect the exterior walls and foundation for evidence of damage, cracking or movement. Watch for bird nests or other vermin or insect activity.
Look at overhead wires coming to the house. They should be secure and clear of trees or other obstructions.
Ensure that the grade of the land around the house encourages water to flow away from the foundation.
Inspect all driveways, walkways, decks, porches, and landscape components for evidence of deterioration, movement or safety hazards.
Clean windows and test their operation. Improve caulking and weather-stripping as necessary. Watch for evidence of rot in wood window frames. Paint and repair windowsills and frames as necessary.
Shut off isolating valves for exterior hose bibs in the fall, if below freezing temperatures are anticipated.
Test the Temperature and Pressure Relief (TPR) Valve on water heaters.
Test the overhead garage door opener, to ensure that the auto-reverse mechanism is responding properly. Clean and lubricate hinges, rollers and tracks on overhead doors.
Examine the electrical panels, wiring and electrical components for evidence of overheating. Ensure that all components are secure. Flip the breakers on and off to ensure that they are not sticky.
Test all ground fault circuit interrupter (GFCI) devices.
If the house utilizes a well, check and service the pump and holding tank. Have the water quality tested. If the property has a septic system, have the tank inspected (and pumped as needed).
Inspect for evidence of wood boring insect activity. Eliminate any wood/soil contact around the perimeter of the home. If your home is in an area prone to wood destroying insects (termites, carpenter ants, etc.), have the home inspected by a licensed specialist. Preventative treatments may be recommended in some cases.
Clean, inspect and/or service all appliances as per the manufacturer’s recommendations.

Denver Ranks Third In Nation

2009-08-27T06:57:00.000-07:00

Denver ranks third in June, shows Case-Shiller

The Denver metro area’s housing market ranked third in the nation, with homes losing 3.6 percent of their value in the year ending in June, according to the S&P/Case-Shiller Home Price Indices released today.

The Case-Shiller report, perhaps the most most closely followed and most influential real estate index, showed that once again, Denver did far better than the top 20 metropolitan areas in the index, which overall showed a one year dive of 15.4 percent. That, however, is an improvement, too.

Only Dallas, with a 2.2 percent decline, and Cleveland, with a 3 percent drop, showed smaller one year changes than Denver. Since January 2000, overall Denver-area home prices have appreciated almost 27 percent. You can see how Denver stacks up to the other 19 cities in a subsequent blog I wrote today.

The S&P/Case-Shiller U.S. National Home Price Index – which covers all nine U.S. Census divisions – recorded a 14.9% decline in the 2nd quarter of 2009 versus the 2nd quarter of 2008.

“While still a substantial negative annual rate of return, this is an improvement over the record decline of 19.1% reported in the 1st quarter of the year,” the report notes. “The 10-City and 20-City Composites recorded annual declines of 15.1% and 15.4%, respectively. These are also improvements from their recent respective record losses of -19.4% and -19.1%.”

“For the second month in a row, we’re seeing some positive signs,” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. “The U.S. National Composite rose in the 2nd quarter compared to the 1st quarter of 2009. This is the first time we have seen a positive quarter-over-quarter

Both the 10-City and 20-City Composites posted monthly increases, as did most of the cities. there are hints of an upward turn from a bottom. ..However, some of the hardest hit cities, especially in the Sun Belt, show continued weakness.”

As of the 2nd quarter of 2009, average home prices across the United States are at similar levels to what they were in early 2003, according to the report. From the peak in the second quarter of 2006, average home prices are down 30.2%.

The 10-City and 20-City Composites posted their second consecutive monthly increases.

Both indices were up 1.4% in June over May, and up 0.5% in May over April. Eighteen of the 20 metro areas saw improvement in their annual returns compared to those of May. Looking at the monthly data, the same 18 metro areas reported positive returns in June.

In spite of the recent positive data, the overall numbers remain weak, with all metro areas and the two composites posting negative annual returns, and 15 out of the 20 metro areas reporting double digit annual declines.

While not alone, Las Vegas and Detroit continue to be two markets that are struggling severely.

These are the only two markets that fell in June and saw deterioration in their annual rates of return.

Since their relative peaks they have fallen 54.3% and 45.3%, respectively.

More upbeat news is seen in the monthly data across other markets; Dallas and Denver have reported four consecutive months of positive returns. In June, Denver showed a 2.5 percent gain, compared to a 1.4 percent overall gain for the 20 cities. Six cities in the index out-performed Denver and 13 improved less.

In addition to the two composites, 13 of the MSAs reported positive monthly returns for June that were greater than +1.0%.

2009-08-10T13:39:00.001-07:00

Tuesday, July 28, 2009 | Modified: Wednesday, July 29, 2009

Standard & Poor's: Denver home prices up a 3rd month

Denver Business Journal - by Mark Harden

Home prices in Denver rose in May for the third consecutive month, and the city scored the second-lowest year-over-year price decline of the 20 cities included in Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index.

Released Tuesday, the index reveals how 20 cities are faring as the economy continues to batter the residential market.

Home prices in Denver rose 1.3 percent in May from the previous month, according to the index report. That follows a 1.5 percent rise in April and a 0.1 percent gain in March.

Denver prices fell by 1.7 percent in February and 2.7 percent in January.

Among the 20 cities in the S&P/Case-Shiller index, Cleveland saw by far the greatest month-to-month home price rise in May, 4.1 percent, followed by Dallas (1.9 percent) and Boston (1.6 percent). Denver was tied for the fifth-highest month-to-month price increase in May.

The greatest month-to-month price decline among the 20 cities was in Las Vegas (down 2.6 percent).

Denver home prices fell 4.6 percent in May from the same month in 2008, the index shows.

That's the second-smallest drop of the 20 cities in the index, bested only by Dallas' 4.1 percent year-over-year decline. Boston was No. 3 with a decline of 7.2 percent.

At the other extreme, home prices plummeted 34.2 percent in Phoenix between May 2008 and May 2009, the index showed. Other big year-over-year losers were Las Vegas (32 percent), San Francisco (26.1 percent) and Miami (25.2 percent).

The 20-city composite index shows home prices were up an average 0.5 percent in May from the previous month, and down 17.1 percent since May 2008.

Nationwide, "the pace of descent in home price values appears to be slowing, ... [but] we likely do have a way to go before we see sustained home price appreciation," David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement.

The index is compiled by comparing matched-price pairs for thousands of single-family homes in each market. It is published by Standard & Poor’s and Fiserv Inc.

Tips For Today's Buyer

2009-07-11T13:52:00.000-07:00

Something Old, Something New: Tips for Today's Buyer

With the recent shakeup in real estate markets across the country comes a new world - one that includes fewer exotic home loans, greater regulation, new pricing and different expectations of home appreciation. Ironically enough, the freshest advice for today's potential home buyers lies in sound fundamentals their grandparents may have used when purchasing their own homes decades ago.

Below are time-honored home buying essentials that apply now more than ever (with a new-school tip thrown in for good measure):

Save Up to Pay Down - The tradition of the down-payment is almost as old as real-estate itself, yet home loans with no money or very little money down became increasingly popular during the start of the decade. Changes in the credit market have made such arrangements all but nonexistent today, and in many cases buyers won't be considered for a loan without at least a 10% down payment waiting in the wings.

In reality, buyers who invest at least a 15% to 20% down payment will be rewarded as markets re-stabilize. A larger down payment provides the buyer with a lower interest rate, lower payments, higher equity and a stronger negotiating position when it comes to refinancing.

Borrow Smarter - Lenders will employ a variety of different metrics to determine how large of a loan and monthly payment you qualify for, but ultimately you must determine a realistic monthly budget. Qualifying for a home doesn't necessarily mean that you can truly afford the payments in the real world. Start the home buying process off right by determining exactly what kind of mortgage payment you can afford, leaving yourself enough buffer to deal with life's little surprises.

Focus on Your Market - It's easy to be distracted by national housing headlines, but real estate has always been centered on very specific local market conditions. What is true in one area is not the case in another, sometimes down to the street level. Rather than paying too much attention to trends in distant cities and markets, keep your eyes squarely on the dynamics close to home: local sales prices, average number of days on market, foreclosure rates, and the relative health of the job market in the area.

Buy the Home That Fits Your Life (Not Someone Else's) - It may seem rudimentary, but the purchase of a house is first and foremost a very personal process of choosing the place that you will call home. The unsustainable appreciation in previous years has caused many to focus on real estate as an investment, a commodity that must be purchased with an eye primarily on resale value. Put simply, we have collectively developed the mentality of "the flip."

The truth is that the home you buy is much more than an asset with four walls and a breakfast nook. There is no guarantee in any market that you will be able to turn around and sell your house for a handsome profit. By remembering that you are buying for your family and not the buyer three or five or seven years from now, you ensure that you end up with your home, not just a residence.

Make the Internet Work for You - Information has always been tantamount to power, but today information moves at a faster speed than ever before. If you aren't using the Internet as a major part of your buying strategy, you're already at a disadvantage to shrewd home buyers who use the power of the web to research and compare listings. Setting up online home searches, saved favorites or new listing email updates is easy, regardless of your computer know-how. The more knowledge you have at your fingertips, the better prepared you will be moving forward.

Denver Existing Home Prices Outperform Other Cities

2009-06-12T07:24:00.001-07:00

S&P: Denver existing-home prices outperform other cities

Denver Business Journal - by Mark Harden

Prices of existing homes in the Denver area climbed a tenth of a percent in March from the previous month,Standard & Poor’s reported Tuesday, making Denver one of just two U.S. cities out of 20 in the S&P survey to see a month-to-month price rise.

Also, prices in Denver declined 5.5 percent in March from the same month a year ago, the smallest decrease of any of the 20 cities in the latest monthly S&P/Case-Shiller Home Price Indices report.

The 20-city average year-to-year decline was 19.1 percent.

Denver’s 0.1 percent price increase in March from the previous month followed a 1.7 percent decline in February, a 2.7 percent drop in January, a 1.5 percent decline in December 2008 and a 1.1 percent decrease in November 2008, S&P said.

The only city with a better records in S&P’s March month-to-month comparison was Charlotte, N.C., up 0.3 percent.

March’s greatest rate of month-to-month price decline was in Minneapolis, down 6.1 percent from February, S&P said.

In the year-to-year comparison, only Denver, Dallas, Boston, Cleveland and Charlotte saw price declines of less than 10 percent.

At the other extreme were Phoenix (down 36 percent year to year), Las Vegas (down 31.2 percent) and San Francisco (down 30.1 percent).

Analysts have said that the real-estate price “bubble” did not blow up as large in Denver as in other parts of the country, so that the contraction of recent months has not been as pronounced.

Nationwide, “declines in residential real estate continued at a steady pace into March,” David Blitzer, chairman of S&P’s index committee, said in a statement Tuesday. “Based on the March data, ... we see no evidence that that a recovery in home prices has begun.”

The survey tracks changes in the value of the residential real estate market by comparing sale prices of specific sample homes in a city at two different times. Calculations are by Fiserv, Inc. using methodology developed by Karl Case and Robert Shiller.

The survey assigns an index number to each city and does not report actual home prices. The index is a measure of how much home prices have gone up or down in each market since January 2000, which has been assigned a price index of 100 in that market.

The report said Denver had a home-price index of 120.35 in March, meaning home prices as of that month were 20.35 percent higher than in March 2000. Home prices in Denver peaked in August 2006.

Click here to download S&P’s latest numbers.

Fixed Rates Rise for Third Week in a Row; Bloomberg

Fixed U.S. mortgage rates rose for a third straight week, signaling the Federal Reserve Board's plan to lower borrowing cost is stalling. The average 30-year rate jumped 30 basis points from the previous week, to 5.59%, for the week that ended Thursday, Freddie Mac said. The 15-year rate averaged 5.06%, Freddie said Thursday. The Fed said March 18 that it would purchase as much as $1.25 trillion in securities from Fannie Mae and Freddie Mac to help drive borrowing costs lower. The program helped push rates to a record-low 4.78% twice in April.

Fed to Keep Lid on Bond Buys; Wall Street Journal

Federal Reserve officials are unlikely to significantly boost purchases of U.S. Treasurys and mortgage-backed securities when they meet in late June, but could make other adjustments in the face of rising bond yields and fresh signs of an improving economy. Fed officials have become more confident recently that they have stabilized the economy and set the stage for recovery. But divisions are brewing within the Fed over whether it should do more to speed the healing, pause, or start pulling back to avoid an outbreak of inflation.

$8,000 Credit for First Time Home Buyers

2009-05-16T22:54:00.000-07:00

HUD Secretary Announces Monetization of Tax Credit at NAR Real Estate Summit WASHINGTON (May 12, 2009) - Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the$8,000 tax credit as a downpaypment.

Donovan's remarks came in an address to several thousand Realtors® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo <http://www.realtor.org/meetings_and_expo/2009_midyear_live> here.

Secretary Donovan said that important changes, which the National Association of Realtors® has been calling for, will help consumers purchase a home. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment," Donovan said. According to Donovan, the FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Donovan said the Obama administration plans to further stabilize the housing market. "I do think we have some early signs that the market overall is stabilizing," said Donovan. "Since January we've seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate."

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said, "As the leading advocate for housing issues and homeownership, NAR continues to take a leadership role in promoting ideas for improving our economy by stabilizing the housing and real estate markets. Today we have the best of the best to begin a dialogue, develop solutions and initiate action toward real estate and economic recovery."

2009-05-05T08:48:00.000-07:00

RealityCheck

The time for prospective home buyers to enter the market may be right now;

here’s why:

• Attractive Interest Rates

Historically, mortgage interest rates are relatively low.

According to Realty Times’ March 31, 2009 “Real Estate

Outlook: Sales Rising?,” “Meanwhile, mortgage rates continue

on their sharp downward track, hitting six-decade lows last

week. Fixed rate thirty year loans plunged to an average 4.6

percent from 4.9 percent with one point, while 15-year rates

sunk below four and a half percent according to the Mortgage

Bankers Association.”

With interest rates remaining at historic lows, this increases

an individual’s purchasing power and makes the mortgage

payment more manageable.

• Increased Affordability

The California Association of Realtors recently released its

First Time Home Buyer Housing Affordability Index which

showed that the percentage of households that could afford

to buy an entry level home in California stood at 59 percent

in the fourth quarter of 2008, compared with 33 percent for

the same period a year ago.

• New First Time Home Buyer $8,000 Tax Credit

A tax credit is available for first-time homebuyers under the

American Recovery and Reinvestment Act of 2009. If you

buy a home between January 1, 2009 and November 30,

2009, you may be eligible to receive a tax credit for 10% of

the purchase price of your home—up to a maximum credit

of $8,000. Program highlights include:

1. Any individual (and if married, their spouse) who has no

ownership interest in a home during the last three years may

be eligible.

2. Full credit for single taxpayers with incomes up to $75,000

Now May Be The Time

to Buy: What Are

You Waiting For?

($150,000 on a joint return); partial credit for single taxpayers

with incomes up to $95,000 ($170,000 joint return).

3. The program is available for the purchase of a single-family

home (including mobile homes and condos) that will be used

as a principal residence. Even building a home on vacant land

(as opposed to purchasing a ready-made house) may qualify

for the $8,000 housing tax credit.

There are some risks in using this tax credit such as if the

home is sold within three years of purchase or if it is not

used as the principal residence during that time, the first-time

home buyer may have to pay some penalties to the IRS;

therefore it is important for you to review the entire program

with your own tax advisor before applying for this tax credit.

• New CAR Housing Affordability Fund Mortgage

Protection Program

First-time home buyers who lose their jobs due to layoffs

licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity.

Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. DRE License #

00313415

may be eligible to receive up to $1,500 per month for up to

six months to help make their mortgage payments if at the

time of purchase they obtained the California Association of

Realtors® Housing Affordability Fund Mortgage Protection

Program. A qualified co-buyer can also participate in the

program, for a reduced monthly benefit of $750 per month

for up to six months in the event of a job loss. The CAR

Program benefits include coverage for accidental disability

and a $10,000 death benefit. CAR’s Housing Affordability

Fund is dedicating $1 million to the program this year, and

estimates that as many as 3,000 families will benefit from the

program throughout 2009. However, there are limitations

on this CAR Program and the benefits are only available to

buyers who use a California Realtor® in connection with

purchasing property in California.

• Increased Conforming Loan Limits

The government recently reinstated the increase of FHA,

Freddie Mac and Fannie Mae loan limits. These limits were

equal to the greater of 125% of the 2008 area median home

price or $271,050 for FHA and $417,000 for Fannie Mae and

Freddie Mac, with an overall maximum cap of $729,750.

Reinstating the higher loan limits for mortgages in high-cost

areas like our own is important and will help reduce inventory

and improve liquidity in the overall mortgage market.

• Sizeable Inventory

After approximately 36 months of a changing market, there

is a great deal of inventory in almost all markets.

The bottom line is that qualified consumers may benefit from

purchasing a home now. Pushed by a powerful combination

of historically-low fixed mortgage rates, the $8,000 tax credit

for first time home buyers, and affordable prices, sales of

existing homes recently jumped 5 percent in February

compared with the same month last year. The National

Association of Realtors also released its Pending Home Sales

Index on April 1, 2009 noting that pending home sales “rose

2.1 percent to 82.1 from a reading of 80.4 in January, but is

1.4 percent below February 2008 when it was 83.3.”

With these recent positive indicators, we are starting to see

some new gains in the market, which could be a sign that

buyers are getting into the market to take advantage of

stimulus incentives and much improved affordability conditions.

If you are considering purchasing a home, don’t let this window

of opportunity pass you by.

I am providing you with this information so that you can make

an informed decision about the current market. In the last

30 years we’ve seen very few opportunities in which buyers

can prevail and now truly may be the time. If you’d like to

discuss your opportunities in relation to the current real

estate market, please contact me today.

RealityCheck

Now May Be The Time to Buy: What Are You Waiting For?

John Hopkins Update On Cancer Prevention

2009-05-01T06:56:00.000-07:00

Cancer Update from Johns Hopkins :

1. Every person has cancer cells in the body. These cancer cells do not show up in the standard tests until they have multiplied to a few billion. When doctors tell cancer patients that there are nomore cancer cells in their bodies after treatment, it just means the tests are unable to detect the cancer cells because they have not reached the detectable size.

2. Cancer cells occur between 6 to more than 10 times in a person's lifetime.

3 When the person's immune system is strong the cancer cells will be destroyed and prevented from multiplying and forming tumors.

4. When a person has cancer it indicates the person has multiple nutritional deficiencies. These could be due to genetic, environmental, food and lifestyle factors.

5. To overcome the multiple nutritional deficiencies, changing diet and including supplements will strengthen the immune system.

6. Chemotherapy involves poisoning the rapidly-growing cancer cells and also destroys rapidly-growing healthy cells in the bone marrow, gastrointestinal tract etc, and can cause organ damage, like liver, kidneys, heart, lungs etc.

7. Radiation while destroying cancer cells also burns, scars and damages healthy cells, tissues and organs.

8. Initial treatment with chemotherapy and radiation will often reduce tumor size. However prolonged use of chemotherapy and radiation do not result in more tumor destruction.

9. When the body has too much toxic burden from chemotherapy and radiation the immune system is either compromised or destroyed, hence the person can succumb to various kinds of infections and complications.

10. Chemotherapy and radiation can cause cancer cells to mutate and become resistant and difficult to destroy. Surgery can also cause cancer cells to spread to other sites.

11. An effective way to battle cancer is to starve the cancer cells by not feeding it with the foods it needs to multiply.

CANCER CELLS FEED ON:

       a. Sugar is a cancer-feeder. By cutting off sugar it cuts off one important food supply to the cancer cells. Sugar substitutes like NutraSweet, Equal, Spoonful, etc are made with Aspartame and it is harmful. A better natural substitute would be Manuka honey or molasses but only in very small amounts. Table salt has a chemical added to make it white in color. Better alternative is Bragg's aminos or sea salt.

       b. Milk causes the body to produce mucus, especially in the gastro-intestinal tract. Cancer feeds on mucus. By cutting off milk and substituting with unsweetened soy milk cancer cells are being starved.

      c. Cancer cells thrive in an acid environment. A meat-based diet is acidic and it is best to eat fish, and a little chicken rather than beef or pork. Meat also contains livestock antibiotics, growth hormones and parasites, which are all harmful, especially to people with cancer.

      d. A diet made of 80% fresh vegetables and juice, whole grains, seeds, nuts and a little fruits help put the body into an alkaline environment. About 20% can be from cooked food including beans. Fresh vegetable juices provide live enzymes that are easily absorbed and reach down to cellular levels within 15 minutes to nourish and enhance growth of healthy cells. To obtain live enzymes for building healthy cells try and drink fresh vegetable juice (most vegetables including bean sprouts) and eat some raw vegetables 2 or 3 times a day. Enzymes are destroyed at temperatures of 104 degrees F (40 degrees C).

      e. Avoid coffee, tea, and chocolate, which have high caffeine. Green tea is a better alternative and has cancer fighting properties. Water-best to drink purified water, or filtered, to avoid known toxins and heavy metals in tap water. Distilled water is acidic, avoid it.

12. Meat protein is difficult to digest and requires a lot of digestive enzymes. Undigested meat remaining in the intestines becomes putrefied and leads to more toxic buildup.

13. Cancer cell walls have a tough protein covering. By refraining from or eating less meat it frees more enzymes to attack the protein walls of cancer cells and allows the body's killer cells to destroy the cancer cells.

14. Some supplements build up the immune system (IP6, Flor-ssence, Essiac, anti-oxidants, vitamins, minerals, EFAs etc.) to enable the bodies own killer cells to destroy cancer cells. Other supplements like vitamin E are known to cause apoptosis, or programmed cell death, the body's normal method of disposing of damaged, unwanted, or unneeded cells.

15. Cancer is a disease of the mind, body, and spirit. A proactive and positive spirit will help the cancer warrior be a survivor. Anger, un-forgiveness and bitterness put the body into a stressful and acidic environment. Learn to have a loving and forgiving spirit. Learn to relax and enjoy life.

16. Cancer cells cannot thrive in an oxygenated environment. Exercising daily, and deep breathinghelp to get more oxygen down to the cellular level. Oxygen therapy is another means employed to destroy cancer cells.

1. No plastic containers in micro.

2. No water bottles in freezer.

3. No plastic wrap in microwave.

Johns Hopkins has recently sent this out in its newsletters. This information is being circulated at Walter Reed Army Medical Center as well. Dioxin chemicals cause cancer, especially breast cancer.Dioxins are highly poisonous to the cells of our bodies. Don't freeze your plastic bottles with water in them as this releases dioxins from the plastic. Recently, Dr. Edward Fujimoto, Wellness Program Manager at Cast le Hospital, was on a TV program to explain this health hazard. He talked about dioxins and how bad they are for us. He said that we should not be heating our food in the microwave using plastic containers. This especially applies to foods that contain fat. He said that the combination of fat, high heat, and plastics releases dioxin into the food and ultimately into the cells of the body. Instead, he recommends using glass, such as Corning Ware, Pyrex or ceramic containers for heating food You get the same results, only without the dioxin. So such things as TV dinners, instant ramen and soups, etc., should be removed from the container and heated in something else. Pa per isn't bad but you don't know what is in the paper. It's just safer to use tempered glass, Corning Ware, etc. He reminded us that a while ago some of the fast food restaurants moved away from the foam containers to paper. The dioxin problem is one of the reasons.

Also, he pointed out that plastic wrap, such as Saran, is just as dangerous when placed over foods to be cooked in the microwave. As the food is nuked, the high heat causes poisonous toxins to actually melt out of the plastic wrap and drip into the food. Cover food with a paper towel instead.

How To Avoid Contacting The Flu -Mike McFee-Denver Post

2009-04-30T08:35:00.000-07:00

Hand-sanitizing gel — full-size bottles and individual packets — is selling briskly at Colorado grocery and drug stores, and there has been a rush on surgical-style masks as people gear up for a possible surge of swine-flu infection.

"We've had a rush on hand sanitizers, and we've sold out of the individual packets," said Christy Nall, who manages the personal-care department at Whole Foods on East Hampden Avenue at Tamarac Square. "It's very much out of the ordinary."

So people are prepared with the over-the-counter weapons to fight swine flu, but do they really know what to do?

Like other influenza viruses, the strain that causes swine flu is transmitted only in the small droplets of fluid created in the lungs, mouth and nose, said Dr. Chris Czaja, infection-control officer at National Jewish Health.

Respiratory fluid can be sneezed or coughed out, allowing the virus to enter another body through the mouth, nose or eyes.

If you minimize your contact with these droplets, you significantly decrease your chances of becoming infected.

The best precaution is to avoid close contact — typically defined as within 2 to 3 feet — with other people. Generally, the droplets don't travel farther than that from a cough or a sneeze.

Still, if someone is known to be infected, try to stay at least 6 feet from him or her, Czaja warns.

Facial masks do little to prevent a person from catching the virus, because they don't fit tightly on the face.

But surgical-style masks can help slow the spread of the virus when they are used by those who are already ill because they keep respiratory droplets from spraying out in a cough or sneeze.

Airline passengers can minimize their exposure to airborne droplets from fellow passengers by increasing the cabin-ventilator air flow across their faces, which the Centers for Disease Control and Prevention says may blow the droplets away from the face.

The virus remains contagious for about two hours in the air or on surfaces such as doorknobs, handrails, counters, desks, computer keyboards and such. If you touch these surfaces, you may pick up the virus and transfer it to your face.

Thus, the second-most important precaution is to wash your hands frequently with soap and water for 15 to 20 seconds in hot water. Hand sanitizers also are effective, but they must be rubbed into the skin until they are dry to the touch.

Whether you've washed or used a sanitizing gel, or not, don't touch your face with your hands — particularly don't touch your nose or rub your eyes.

The mucous membranes in your nose are the fastest way for the virus to enter your bloodstream. Keeping those membranes moist by drinking plenty of fluids helps your body put up some defense against the virus, the CDC says.

Important News Regarding Plastic Wrap

2009-04-10T09:21:00.000-07:00

Information that women should be aware of.

Bottled water in your car is very dangerous! On the Ellen show, Sheryl Crow said this is what caused her breast cancer. It has been identified as the most common cause of the high levels of dioxin in breast cancer tissue. Sheryl Crow's oncologist told her: women should not drink bottled water that has been left in a car..The heat reacts with the chemicals in the plastic of the bottle which releases dioxin into the water. Dioxin is a toxin increasingly found in breast cancer tissue. So please be careful and do not drink bottled water that has been l eft in a car. Pass this on to all the women in your life. This information is the kind we need to know that just might save us! Use a stainless steel canteen or a glass bottle instead of plastic!LET EVERYONE WHO HAS A WIFE / GIRLFRIEND / DAUGHTER KNOW PLEASE!This information is also being circulated at Walte r Reed Army Medical Center No plastic containers in microwave. No waterbottles in freezer No plastic wrap in microwave. A dioxin chemical causes cancer, especially breast cancer. Dioxins are highly poisonous to the cells of our bodies. Don't freeze your plastic bottles with water in them as this releases dioxins from the plastic. Recently, Edward Fujimoto, Wellness Program Manager at Castle Hospital , was on a TV program to explain this health hazard. He talked about dioxins and how bad they are for us. He said that we should not be heating our food in the microwave using plastic containers... This especially appli es to foods that contain fat.He said tha t the combination of fat, high heat,=2 0and plastic releases dioxin into the food and ultimately into the cells of the body... Instead, he recommends using glass, such as Corning Ware, Pyrexor ceramic containers for heating food.. You get the same results, only without the dioxin.So such things as TV dinners, instant ramen and soups, etc., should be removed from the container and heated in something else. Paper isn't bad but you don't know what is in the paper. It's just safer to use temperedglass, Corning Ware, etc. He reminded us that a while ago some of the fast food restaurants moved 0Aaway from the foam containers to paper. The dioxin problem is one of the reasons... Also, he pointed out that plastic wrap, such as Saran wrap, is just as dangerous when placed over foods to be cooked in the microwave. As the food is nuked, the high heat causes poisonous toxins to actually melt out of the plastic wrap and drip into the food. Cover food with a paper towel instead. This is an article that should be sentTo anyone important inYour life!

2009-04-10T09:19:00.000-07:00