Neighborhoods
- Highlands Ranch Homes
- Castle Rock Homes
- Horse Creek
- Lone Tree Colorado Homes
- Meridian Village
- Newlin Meadows
- Pradera
- Stonegate
- The Timbers
Local Resources
Videos
Categories
Archives
- August 2010 (5)
- July 2010 (7)
- June 2010 (9)
- May 2010 (5)
- April 2010 (17)
- March 2010 (5)
- February 2010 (13)
- January 2010 (13)
- December 2009 (5)
- November 2009 (30)
- October 2009 (31)
- September 2009 (36)
- August 2009 (21)
- July 2009 (9)
- June 2009 (16)
- May 2009 (12)
- April 2009 (2)
Archive for the 'Lone Tree Colorado Homes' Category
Paying off my house and the BIGGEST load of CRAP in real estate.
Aug 30th 10
Are tax deductions worth the interest?
Should you pay off your mortgage? I think most people should.
Today I’m talking about mortgages, paying them off and what I consider to be a load of crap pushed on home buyers by the lenders of America, accountants and YES the real estate brokers.
I’ve never understood why everyone says “oh you have to have a mortgage because you get the tax write off.”
I say BS. Wouldn’t it be better to have a paid for house with no interest payment and just pay the tax?
Here’s my way of thinking and no it didn’t originate from me. I was raised by two depression era grandparents that were basically in a steady savings cycle preparing for the next GREAT DEPRESSION.
(BELOW-I may be off a little but I hope you are getting the picture. I’m going off memory as I did not go into the basement and dig out my tax returns to write this post.)
Two years ago I remember looking at my year end taxes and seeing that my wife and I had paid around $14,000 in interest to the bank over the year. I also noticed that my WONDERFUL tax deduction was around $2,400.
So basically I have to pay a bank ~ $14,000 in interest to keep from sending the government $2,400. Is this the Great American Home Tax Deduction everyone says is so wonderful? Not to mention over the life of these mortgage loans you pay hundreds of thousands in interest to get in my opinion “NOT MUCH” in the way of a deduction.
It looks like a load of goods the banks & government put together to make us feel batter about all the interest the banks charge us.
Personally I think I would rather send the government their tax and just keep all my interest. Besides living in a paid for house has got to be a GREAT FEELING. Think about it. You are recession proof. If you lost your job you could easily go work at an hourly job and make the yearly tax and insurance payments. Hopefully it would only be temporary..right?
Vacations Paid For in Advance
I talked to my accountant about ways to payoff our house and told him that over our lifetime it would save my wife and I nearly $200,000 in interest. He told me “oh, well if you do that you won’t get your deduction.” I explained my theory to him and he still tried to tell me I needed this deduction. When I asked repeatedly why I have to have this deduction he couldn’t give me a real answer. He like so many others in the country have been brainwashed into thinking that we MUST have our deduction. Again BS.
Pay your house off and live like a Prince or Princess and have your income to save, invest and SPEND as you wish. Can you imagine that?
The other side is my investment adviser. He says “Steve you need to be putting money away for retirement.” Well, we are still saving. He says all that money in the house could be earning more money in the market. REALLY. Have you seen the market? I don’t know about you but a few more of these every 10 year implosions and I’m done with “the market.” I have highly paid professionals begging for alternatives to the stock market. They all love real estate right now. YEAH.
If you have your house paid for at an early age and have the remaining years of your working life to save, invest and actually enjoy a paid for vacation how would that feel? I think it would feel pretty damn good wouldn’t it.
No matter how you do it I think paying off your home as quickly as possible is the best way to go. Here is a recent article to help prove that it isn’t just me thinking this way. A lot of Americans are starting to see the benefits of being free from all debt and especially the home mortgage.
I think this guy, Dave Ramsey, has a lot going on in his debt free classes. A few years ago my wife and I went to his Financial Freedom class in Colorado Springs. We were basically on his program without knowing it. His word is true and if you stick with it you too will live like no one else so you can then live like no one else. Think about it. If you live frugally for several years to payoff all your debt it will allow you to live the rest of your life debt free. Plus along the way you will learn tricks (personal self control) that you apply once you become debt free that will save you money after you become debt free. In our society putting off our instant gratification so we could possibly live a better and more financially rewarding life in the future is a TOUGH sell.
I’m sure there are people out there that have different circumstances, needs and investment goals so this may not apply. But I believe for the average middle class person/family this is a viable option and should be explored. Just a few years ago talking about this to friends and clients was a dead end and they all thought I was a crazy person but now they seem to be coming out of the wood work to share their new goals of paying off their house.
Steven Beam is a CRS Realtor in Parker, Colorado. See client testimonials.
Steven Beam Social Media Connect.
Newlin Meadows Homes for Sale in Parker. Colorado
Meridian Village in Parker Colorado
Townhome for Sale in Parker Colorado
Lone Tree Colorado Homes for Sale
Parker Colorado Real Estate Market Update
Apr 20th 10
Parker Colorado Real Estate Update
The real estate market in Parker Colorado and South Metro Denver is on fire. The current market activity reminds me of the late 1990’s and the early 2000’s.
My listings are going under contract at record speed and the inventory for buyers is shrinking compared to 2 years ago. I have also noticed that the homes that are for sale have been well maintained as the sellers have really worded hard to get them into show quality condition. I’m noticing updates on homes that were not previously there such as granite, tile and new carpet and paint.
“I see many homes back on the market now that were listed last year with unrealistic asking prices and definitely not in show condition. These homes have been spruced up and re-listed for sale with new lower prices.”
I seriously need more homes/listings for the current demand. Call so we can sell your property. Steven Beam 303-941-4663.
All indications point to a great year in real estate sales. Enjoy 2010!
Sincerely,
Steven Beam, Parker Colorado Realtor.
The Home Buyer Tax Credit is Going Away!
Apr 2nd 10
Home Buyer Tax Credit
I guess we can all kiss the government Home Buyer Tax Credit bye, bye, bye. From the reports I’ve read and information I’ve heard it appreas to be going away with not much of a chance for a second extension.
NAR , The National Association of Realtors, appears to have given up hope of getting it extend and posted this information on a website.
“NAR has had extensive discussions with congressional allies and concluded that an additional extension of the tax credit is unlikely. While lawmakers recognize that the tax credit helped stabilize the market, it appears that much of the benefit has been realized. NAR is now focusing on improving the availability of financing.”
Well that sure is a bummer but at least we know they are going to now try and work out the many wrinkles in the mortgage industry. This should be interesting going forward.
Congratulations to all you buyers and sellers that took advantage of the tax credit and received your benefits.
Steven Beam is a member of the National Association of Realtors.
Parker Colorado Christmas Tree Lighting Festival November 27
Nov 24th 09
Parker Christmas Tree Festival
- Parker, Colorado Christmas Tree lighting festival.
- Friday, November 27th
- Starts at 5:00 and the tree lighting will begin around 6PM.
- The Lions Club will have their famous chili and the Children’s Choir will be singing.
- See you there. Dress warm!
NEWS-Real Estate Market Report for Douglas County-Parker Colorado Real Estate
Oct 30th 09
REAL ESTATE MARKET UPDATE
An Information Service of RE/MAX Alliance/Douglas County
October/2009
Real estate markets are always bottom-up markets. Which means? For a real estate market to sustain itself and flourish, the bottom of the market, that being the less expensive properties, must sell in a timely manner. When the bottom of the real estate market suffers, the entire market is negatively impacted.
The government’s $8,000 tax credit, which ends in late November/2009, unless there is an extension or change in the program, was designed to serve two purposes: (1) provide first-time home buyers an incentive to buy now, and (2) stimulate the housing market by getting entry level homes sold so current homeowners could “move-up” to more expensive properties. The result being that life would be breathed back into the overall housing market.
There were some hurdles to overcome to this seemingly perfect plan. First, with the economy limping along, home values had been driven down in most geographic areas around the country, resulting in a loss of homeowner equity. A home seller considering buying-up now had less cash in their current home to buy-up with. Second, almost overnight the home mortgage industry went from loaning money to anyone with a pulse to being over selective as to whom they would bless with their sacred funds. Finally, the uncertainty of the job market and the high unemployment rate has led to many potential move-up buyers deciding to rent rather than buy. This has resulted in the more expensive homes being forced under the boot of foreclosure or short sale, or they have become rental havens for those individuals choosing not to buy now or not having the ability to buy now.
Below is a brief overview of the absorption rates for single family homes for the Douglas County area through September for the past two years. The Absorption Rate is the length of time it would take for the existing inventory to sell assuming two things happen: (1) the rate of sales activity remains the same, and (2) no new listings come into the marketplace during that period of time (this is not going to happen). (Metrolist MLS is the source of information.)
“NEWS Articles of Interest for the Denver & Douglas County Real Estate Market”
Denver fares better than nation in home resale prices - According to a First American CoreLogic Inc. report released yesterday, Denver-area home resale prices dropped in August year over year, but were down far less than the national average. First American’s LoanPerformance Home Price Index (HPI) showed that metro Denver’s average home-resale price — including sales of distressed homes such as foreclosures and short sales — decreased 1.44% in August from the same month of 2008. Nationwide, resale prices dropped 10.1% in August from August 2008. By comparison, July home prices in the Denver area dropped 2.64% from those of July 2008, and June prices were down 3.21% year over year. However, when distressed sales are excluded, August home prices were down less than 1% — .58% — from the prior-year August. July prices, not including distressed sales, decreased 1.26% and June’s prices dropped 1.68% year over year.
http://denver.bizjournals.com/denver/stories/2009/10/26/daily51.html
Freddie Sees Weekly 30-Year Fixed Rate Pass 5% - The 30-year fixed-rate mortgage averaged 5.03% with an average 0.7 point for the week ending October 29, 2009, according to Freddie Mac’s Primary Mortgage Market Survey. Last week, it averaged 5.00%, and a year ago it was 6.46%. Sales have increased, prices are down and supply is starting to decline, according to Bankrate.com. Susan Wachter, a real estate professor at the University of Pennsylvania’s Wharton School of Business, said in the Bankrate.com survey the housing market is not at a false bottom. “These are strong numbers, but not surprisingly strong numbers,” Wachter said. “The fundamentals are in place for a recovery — however, a slow recovery.”
http://www.housingwire.com/2009/10/29/freddie-sees-weekly-30-year-fixed-rate-pass-5/
Additional articles that you may find of interest:
Building a home yourself without swinging a hammer
http://www.9news.com/money/consumer/article.aspx?storyid=125948&catid=103
Homebuyer Credit Gets New Life
http://www.realtor.org/RMODaily.nsf/pages/News2009102901
How to Tell Mortgage Rates Are Rising
http://www.realtor.org/RMODaily.nsf/pages/News2009102904
FHA 203(k) Loans on the Rise
http://www.realtor.org/RMODaily.nsf/pages/News2009102906
Investor Report: Fannie Mae’s PRP
http://realtytimes.com/rtpages/20091030_investorreport.htm
Lone Tree Colorado Real Estate Market Report
Oct 23rd 09
Lone Tree Colorado Luxury Real Estate
Homes sold in Lone Tree Colorado between January 2009 and October 19, 2009. Price range $500,000 and up. This is a luxury home market report for Lone Tree.
- Number of homes sold in Lone Tree over $500,000 = 54
- Average Sales Price above $500,000 sales = $836,401.
- Average Original Listing Price = $952,808.
- Highest Sales price in Lone Tree for 2009 = $2,494,100.
- Total Sales Volume for sales over $500,000 = $35,128,837.
- Average Price per square foot in Lone Tree over $500,000 sales = $197.00.
- Homes on average are selling for 94.69% of Original Asking Price. This means don’t list so high to start with.
Lone Tree is located ideally at the I-25 and Lincoln Avenue interchange.
Douglas County Colorado Ranked # 5 for Young and Wealthy in the Nation
Oct 1st 09
Douglas County Business opportunities.
CNN Money released a report a month or so back “Where the jobs are” that ranked Douglas County Colorado as the number 5 spot for wealthy young adults. There is even a mention that some locals have nicknamed the area “Silicon Mountain.”
I guess we have always known this but the rest of the world didn’t. Douglas county is ideally situated between Denver and Colorado Springs and encompasses Parker, Highlands Ranch, Castle Rock and Franktown Colorado. Our quality of life and abundance of amenities have created the perfect location/reason for large companies to decide to relocate here.
- Highly educated workforce.
- Cost of living is low compared to most large cities.
- Housing costs are some of the most reasonable in the country. We have had our share of foreclosures but massive deprecation of property values was contained to a few small areas of the city.
- Douglas County real estate and home prices held steady during the real estate crash.
- Outdoor and open space activities. A well thought out bike trail system allows people to access most parts of the city via their bike, walking or whatever they choose.
- Hiking trails in beautiful open spaces with easy access to State and National Forests and Parks.
- A state of the art light rail system in place and operating with large plans to expand that are already underway and some awaiting approval.
- A very established Denver Center for the Performing Arts venue with a full schedule of world class events and shows.
- Douglas County has a wonderful schools and there are plenty of options for Private schools as well.
- World class museums and the Denver Zoo that will make you want to come back over and over again.
- Oh and don’t forget the best skiing in the WORLD an hour from your door.
- Fishing, hunting, snowshoeing and any other outdoor adventure you can imagine. It’s all here. Except the ocean! Oops.
For more information about moving or starting a business in Parker Colorado contact the Parker Economic Development Council.
Social Networking Profiles
Favorite Listings
Most Recent Posts
- Paying off my house and the BIGGEST load of CRAP in real estate.
- Home for Sale-4056 South Atchison Way, Aurora, CO $220,000
- 5 year old getting air. Garrett has no fear.
- Townhome for sale in Parker Colorado. Video. Mann Creek Drive
- 19440 East Mann Dr. Townhome for sale in Parker Colorado $ 157,000
- Aurora Colorado Home for Sale – 4054 South Atchison Way 80014
- Sweet Campsite in Colorado
- Camping with kids in Colorado is big FUN!
- Idyllwilde in Parker Colorado Real Estate Market Report
- Garrett busted his lip. Parker Adventist Childrens Hospital.
