September 2009

Renting To Own: Is it a good idea?

Phil Boren

Wednesday, September 23rd, 2009 at 2:32pm. 162 Views, 0 Comments.

With the relatively slow pace of sales in the market today, some sellers may be tempted to explore the possibility of having a buyer/tenant "rent-to-own".  While this arrangement can work out for both parties, it can also lead to some unforseen legal issues that may force the parties into litigation instead of a closing.

Without getting too technical about the possible issues involved, suffice it to say that this type of transaction should involve some legal advice - particularly for the seller/landlord - and should not be entered into lightly.  In the vast majority of cases, it has been our experience that a straight deal - either a lease or a sale - will serve both parties well.  In the rare instance when a lease/purchase is appropriate, it would be…

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Just Listed! 1249 Whitehall Dr.

Phil Boren

Saturday, September 12th, 2009 at 12:56am. 158 Views, 0 Comments.

New listing in Longmont at 1249 Whitehall Dr.:  Quiet location in the Reserve at Ute Creek, close to the golf course and shopping!  4 Bedrooms up including 2 w/a jack-n-jill bath and a separate guest suite with private bath (master bath also has slab granite).  Also features main-floor study and beautifully remodeled eat-in kitchen with 42-inch maple cabinets, wood floors, updated fixtures, and sleek slab granite.  Light and brite home with designer paint, vaulted ceilings, living and dining rooms, and custom window treatments.  This is an immaculate home that shows beautifully (MLS# 609848).  Contact us for more details.  Click here to see a virtual tour.

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So, How's The Market?

Phil Boren

Tuesday, September 8th, 2009 at 10:49am. 101 Views, 0 Comments.

This is a pretty common question these days and the answer is . . . it depends.  While there are always micro-market factors affecting any market segment, the market today has some pretty distinct boundaries based largely on price point.  Based on current MLS stats, residential properties in Boulder County under $300K have about 6.2 months of inventory with 24% under contract.  Conversely, properties over $1.2M have 54.7 months of inventory with only 4% under contract.

In a nutshell, the lower-end market has had stimulus in the form of the federal tax credit, favorable interest rates, and shrinking inventory; while the upper end market has constraints in the form of more stringent underwriting, thin credit markets for jumbo loans, a thinning move-up…

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