Lafayette, CO Real Estate News

By Vickie Slade, Service You Can Trust ~ Someone You Can Depend On
(Colorado Landmark, Realtors)
Boulder County Real Estate - Lafayette Stats for September   So you're thinking about maybe purchasing a home in Lafayette?  Congratulations, you've made a good choice....Lafayette is a great community and there are a lot of really nice homes on the market.  You can get more house within your price range in Lafayette, as compared to either Boulder or Louisville. The total number of sold single family homes increased by 7.7% while the number of attached dwellings decreased by 60%. Year to date sales for single family homes also increased by 8.2%.  Year to date, the number of attached dwellings decreased only slightly by 4.4%. Average days to contract decreased (this is a positive sign) by 7.9% for single family homes to only 58 days but increased rather significantly for attached dwellin...
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By Mary Kay Irving
(Thompson Daviau Realty)
Hiring a Realtor in Lafayette, CO.  So, you've made the decision to buy a home.  Whether you are a first-time home buyer, buying up or downsizing it is often an unfamiliar process and you know you need help.  How and where do you start when hiring a Realtor in Colorado?  Often a good place to start is by asking friends or neighbors or maybe the Realtor holding the Open House at your neighbors'. Once you've made contact with a Realtor the real confusion begins as they start telling you about brokerage relationships and long before the actual closing, the paperwork starts flowing.  This paperwork, approved by the Colorado Real Estate Commission, describes the types of brokerage relationship buyers can choose when purchasing a home.  In Colorado, when hiring a Realtor to represent you you ...
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By Mary Kay Irving
(Thompson Daviau Realty)
Using a Realtor to purchase your home in Lafayette, Colorado. While sales of homes have been slower this year I have met many buyers over the last few weeks.  Many of these buyers, like you have not yet chosen the agent who will represent them.  Many are just beginning their search in preparation to buy in the near or distant future.  I am often asked the same questions about the home buying process and I thought I'd share a common one with you here. Using a Realtor to purchase your home provides you with instant access to an experienced expert to help you navigate your home purchase.  They will answer your questions or they will help connect you to the person or other expert to get your answer.  They are here to serve you. When using a Realtor to puchase your home that Realtor works fo...
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By Joetta Fort, Independent Broker, Homes Denver to Boulder
(The DiGiorgio Group)
First time homebuyers in Colorado* need to check out Compass Bank's First Time Home Buyer Program.  The First Time Home Buyer Program features  - first mortgage payment not due for three months**  - low down payment options***  - no origination or other lender fees, including no private mortgage insurance (third-party fees may still apply) This loan could be a great thing for people who will have to invest money in fixing up their new home, and wouldn't be able to come up with the bucks if they were making a mortgage payment. It might also allow a new home owner to buy needed furniture or appliances, or even to put it in a savings account for unforeseen expenses down the road. It's true that this loan is not going to give the lowest possible interest rate. However, since there is no pri...
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By Vickie Slade, Service You Can Trust ~ Someone You Can Depend On
(Colorado Landmark, Realtors)
Lafayette, Colorado Housing Stats, June 2010: Below is snapshot of the sales statistics for Lafayette, Colorado for the month of June.   SALES: Total monthly sales for single family homes increased 14.3% as compared to June of 2009 Total monthly sales for attached dwellings however decreased by 18.2%   Total sales on a year to date bases: Single family homes sales are up by 36%, and attached dwellings year to date sales are up by 30.6%   AVERAGE DAYS TO CONTRACT: For single family homes, the average days to contract increased 44.8% during the month of June to 84 days. And for attached dwellings, the average days to contracted decreased by 62.9% to 43 days.   INVENTORY FOR LAFAYETTE:  Decreased on single family homes by 5.7% and while increasing on attached dwellings by 63.2%.   AVERAGE ...
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
The Lafayette Chamber of Commerce, in conjunction with Peak to Peak Charter school, will hold it's second annual business expo from 6-8pm Thursday, April 29, at Peak to Peak Charter school, 800 Merlin Drive, Lafayette.   This event is free and open to the public.   Participants will learn about businesses in Lafayette and mingle, network, enjoy food samples from area restaurants, talk to health professionals and register for door prizes. Booth space is still avalable for $75 for chamber members, $100 for non-chamber members and $50 for nonprofits.   To download the business expo application, go to www.lafayettecolorado.com
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
The Lafayette Chamber of Commerce is holding a membership drive until Sunday, Jan 10, 2010.  This is the last chance to be listed in the chamber's 2010 business directory.   The directory reaches over 14,000 homes in Lafayette, parts of Erie and Broomfield, plus all the chamber members.  Deadline for inclusion in the 2010 directory is Jan. 9, 2010.   For more information, call 303-666-9555 or visit www.lafayettecolorado.com  
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
What to do with your tree after the holidays If you choose a cut tree this holiday season, there are several programs run by area municipalities that will take your tree and compost it or turn it into mulch. Note, these collection operations will not take trees with ornaments, lights or tinsel, so be sure your tree is clean of holiday debris. Some of the services charge a fee, and others don't. Call the phone numbers listed below for more details about potential cost or hours of collection.   Lafayette: Local Boy Scout Troup 69 will pick up trees from Lafayette residents on Jan. 2, for a small donation. Call 303-926-0724 between Dec. 12 and Jan. 1 to schedule a pick-up.
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
Saturday, jan 9 will mark the 14th year of the annual Lafayette Quaker Oatmeal Festival family event, which includes an oatmeal breakfast witht he world's largest topping bar, the Quicker Quaker 5K walk/run and an interactive health fair. In addition to health screenings, exhibits and staions, the Denver Museum of Nature and Science will return to present health and scienc-related programs, children's crafts and dissection demonstrations. The Quicker Quaker 5K walk/run is scheudled for 9:30 am sharp on Saturday, Jan 9.  Race registration is now open.  Early registratins are encouraged as late registration fees apply after Jan. 7.   Registration is available at the following locations:   www.Active.com www.lafayettecolorado.com Boulder Running Company, 2775 Pearl Street, Boulder Fleet Fe...
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By Stuart Dobson
(eLoanRates.org)
Are you in search for the perfect Wheat Ridge Colorado houses ? Are you finding it hard to choose from the numerous houses for sale in Lafayette Colorado ? If you answer yes to any of the questions above, then you’re in luck, because you’ve found the right article that can help you choose the best home for your family. Of course, in order to find the best home, you need to shop around Lafayette Colorado real estate listings. Here, you will be able to see different kinds of houses at different prices. Lafayette Colorado houses are also available in different styles, from Victorian to French homes, Foreclosure homes and other types. Also, you will be able to find homes in different locations, so if you want to houses located in the heart of the city, or if you want it in the more peacefu...
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By Dawn Olinek
(Egghead Virtual Assistance | Green Building Industry VA)
Back before I knew anything of prefabricated homes the vision I had in my mind was of something along the lines of a modular home; unsightly and uninspiring.  Blah.  After much research I have found that many of today's prefab homes are modern, minimal, and above all environmentally friendly; all attributes that I'm attracted to. I'm excited to showcase a fabulous company, h-haus, Home Design for a Smart Energy Future.  I developed a love for h-haus as soon as I saw their home models; sexy, chic, and functional.  Designed from recycled steel frame construction, wood flooring (no laminate floors, thank you very much), energy efficient appliances, and the option to purchase an energy package including solar panels, geo-thermal heating, rainwater harvesting, and wastewater recycling it's 2...
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By Dawn Olinek
(Egghead Virtual Assistance | Green Building Industry VA)
Corporate Americans aren’t the only group of people feeling the burn from the current economic climate.  Professional service providers are also feeling the pinch as we aren’t immune to the economic woes currently felt.  I don’t want to overgeneralize because there are many businesses out there that are prevailing due to smart positioning before things started to turn.  I also don’t want to make this another depressing vexatious article about your business and the economy; there are far too many blurbs currently circulating as I brainstorm and compose this piece.  What I want to do is share with you, dear reader, my 5-step approach to keeping your business very much alive (read: you do not need to close your doors; you just need to scale back). Step 1: Think small-scale. Ask yourself th...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Lafayette area in Denver.   What this investment is:  Purchasing a small home in an expensive neighborhood that may or may not need work.  The home is bulldozed and a new home or duplex is put on the lot.  Alternatively, the existing home is renovated and more square footage is added on.  A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).   Equity needed:  Being able to document your income and your assets will be critical.  For a commercial loan, your net worth should generally be at least as much as the loan you are seeking.  The good news is that the commer...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Lafayette area in Denver.   What this investment is:  A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium.  Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area.  Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes.  Ideally suited for the sophisticated investor with extensive experience.    Equity needed:  Being able to document your income and your assets will be critical...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Lafayette area in Denver.   What this investment is:  Purchasing a home that needs work.  The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over.  Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible.  Great for beginners with the right skill sets or the willingness to learn.   Equity needed:  With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too.  Expect a LOT of strings to be attached.  A small local lender might give you 75% of the purchase price and the renovation ...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Lafayette area in Denver.                        What this investment is:  A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant.  The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame.  Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease.  If you purchase the property, then it's an easier process; if you find a highly motivated seller to...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 5 - Large (5+ unit) Apartment Building This blog will discuss a type of real estate investment, large apartment buildings, in the Lafayette area in Denver.   What this investment is:  Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property.  The loans are more difficult to qualify for, and usually a larger down payment is needed.  Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to.  Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you.  This takes reduces the hassle factor of the landlord process...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 4 - Small (2-4 units) Apartment Building This blog will discuss a type of real estate investment, small apartment buildings, in the Lafayette area in Denver.   What this investment is:  Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms.  Usually what the rental home / condo landlords graduate to.  In most markets they cost a little more than a rental home, but are much more likely to cash flow on the average month.  Less cash flow risk; if one unit is empty you have other tenants that still help you with the mortgage payment so it doesn't all come out of your pocket.  Many owners will start to delegate some of the property management tasks to an on-site assistant (typically the most responsible tenant), such as yard ma...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 3 - Rental Condo or Rental Home This blog will discuss a type of real estate investment, rental condos or rental homes, in the Lafayette area in Denver.   What this investment is:  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements than for larger rental buildings.  The purchase process and financing process is very similar to what you experienced buying the home you live in now.  It's a great way for beginners to get started.   Equity needed:  Currently 20% - 25% Downpayment.  In some cases you might be able to...
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By Rex Jarnagin
(Your Castle Real Estate)
Investing in Real Estate 2 - Assignments This blog will discuss a type of real estate investment, assignments, in the Lafayette area in Denver.   What this investment is:  An investor who is interested in Assignments gets a property under contract for an attractive price then assigns the contract to another buyer, usually another investor.  The first investor will be paid a fee for the work.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Equity needed:  None, just earnest money.   Importance of credit:  Not important, since you are not purchasing the property yourself.   Importance of experience with cont...
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