Mortgage Market Update: What Buyers & Agents Need to Know

Hey there!

Hope you're having an amazing week! With 2025 well underway, the mortgage market is shifting, and it's creating some exciting opportunities for both buyers and sellers. Whether you're a first-time homebuyer, an investor, or just keeping an eye on the market, here’s what you need to know right now.

Where Are Mortgage Rates Headed?

Mortgage rates have seen some improvement since late last year, giving buyers a reason to start house hunting again. Here’s what’s influencing the market:

• Inflation & Government Spending – Inflation remains higher than the Federal Reserve would like, which is keeping them cautious about cutting rates too soon.

• Job Market Trends – The recent jobs report showed moderate job growth but rising wages, which impacts borrowing costs.

• Global Bond Markets & Demand – Increased demand for bonds in international markets is helping to stabilize rates here in the U.S.

What’s Happening This Week?

• 10-Year Treasury Yields – The 10-year Treasury yield dipped below 4.50%, a good sign for mortgage rates. If it stays there, we could see rates drop even further.

• Oil Prices & Inflation – Lower oil prices are helping to ease inflation, which could lead to more favorable mortgage conditions.

• Fed’s Strategy – Treasury Secretary Scott Bessent emphasized that bond yields matter more than short-term rate cuts when it comes to mortgage rates, meaning long-term rates will be driven by broader economic conditions.

What This Means for You

If you’re a homebuyer, now is a great time to get serious about locking in a rate. While we’re not seeing record lows, today’s rates are better than they were just a few months ago. Getting pre-approved and understanding your financing options will put you ahead of the competition.

For sellers, this shift in the market means motivated buyers are returning. Pricing your home competitively and preparing it properly will make all the difference. Need advice on strategic remodels or prepping for the best possible sale? That’s where I come in!

For agents and investors, staying on top of these trends will help you make smart, strategic decisions. Whether you're guiding clients or planning your next investment, being proactive in this market is key.

Looking Ahead: Key Reports to Watch

Next week, all eyes will be on inflation data, with the Consumer Price Index (CPI) and Producer Price Index (PPI) reports coming out. These reports will influence interest rates and give us a clearer picture of where things are headed. Plus, with the Treasury set to auction $125 billion in new debt, we could see further movement in bond yields and mortgage rates.

Final Thoughts

The real estate market is constantly changing, and smart buyers and sellers know that staying informed is the key to making the best moves. If you’ve been thinking about buying, selling, or investing, let’s talk about your strategy and make sure you’re making the most of this market shift.

Let’s connect and make your real estate goals happen!

Contact AJ for more information

Contact AJ for More Information
AJ Chamberlin
📞 +1 (303) 588-8999
📧 aj@attitudehomes.com
🌐 www.attitudehomes.com

Credits:
Mark Sööt | Mortgage Loan Officer
Elevations Credit Union
📞 (303) 817-0089
📧 Mark@elevationscu.com
🌐 Visit Mark’s Website
1301 Walnut St., Suite 100, Boulder, CO 80301
NMLS: 403853

Mortgage Rates Trending Lower – What It Means for Buyers & Agents

Hi everyone!

Hope you’re doing well! As we move through the early months of 2025, interest rates are in focus again. With mortgage rates showing slight improvements and economic indicators shifting, this is a key moment for both buyers and real estate professionals. Let’s break down what’s happening and what it means for you.

Where Are Mortgage Rates Headed?

Right now, mortgage rates are trending slightly lower, which is great news for those looking to buy or refinance. The market is being influenced by several factors, including economic outlook, inflation, and global financial trends.

Key Influences:

• Inflation remains sticky – While we’ve seen a slowdown from the highs of 2022, inflation is still above target levels, meaning the Fed is cautious about making rate cuts too soon.

• Deficit spending and government policies – More government spending means more borrowing, which can put upward pressure on rates in the long run.

• Market expectations for Fed rate cuts – Earlier, we were anticipating several rate cuts in 2025, but now, it looks like the Fed is taking a more patient approach.

What Happened in the Market This Week?

This past week was a rollercoaster for bonds and interest rates. The Fed’s preferred inflation metric, the Core PCE, came in as expected, which initially pushed mortgage rates lower. However, later in the day, news broke about new tariffs on imports from Canada, Mexico, and China, causing markets to react and rates to slightly reverse course.

Even with this volatility, we’ve seen improvement in rates, which is promising for buyers who’ve been waiting for better affordability.

The Fed’s Stance: No Rush to Cut

Federal Reserve Chair Jerome Powell made it clear that the central bank is in no hurry to cut rates, reinforcing that the economy is still holding strong.

A key takeaway from their recent statement was: "The unemployment rate has stabilized, and labor market conditions remain solid." This means job growth remains steady, which is good for the housing market because buyers need stable employment to secure home loans.

Many people assume that when the Fed cuts rates, mortgage rates will immediately follow. However, history has shown that mortgage rates often move based on inflation expectations rather than direct Fed actions. In some cases, even after rate cuts, mortgage rates can stay elevated if inflation fears remain.

Why Lower Oil Prices Matter

A lesser-known factor in mortgage rate trends is oil prices. Recently, oil prices have dropped significantly, reaching their lowest levels of 2025. Why does this matter? Lower energy costs can help slow inflation, which in turn could help bring mortgage rates down further.

What This Means for Buyers & Agents

If you’re a homebuyer, now is the time to get serious about locking in a rate. Even though rates are still higher than they were a few years ago, recent improvements make home purchases more feasible than they were last fall. If you’re thinking about refinancing, it may also be worth discussing with a mortgage expert to see if waiting for further declines or acting now is the better choice for your financial situation.

For real estate agents, this is a great time to educate clients. Many buyers have been hesitant due to higher rates, but with stabilization and slight improvements, they may find more opportunities in today’s market. Encouraging clients to get pre-approved and stay engaged will help them be ready when the right home hits the market.

What’s Coming Next?

Next week, we’ll be keeping a close eye on job market data. Reports on job openings, private sector hiring, and the unemployment rate will provide a clearer picture of where the economy is headed. If we see signs of economic slowing, it could push the Fed to take a more aggressive stance on rate cuts, leading to further mortgage rate improvements.

Final Thoughts

This is a dynamic market, and every shift presents new opportunities. Whether you’re a buyer looking to take advantage of improving rates or an agent helping clients navigate the market, staying informed is key.

I’ll be watching the trends closely and will keep you updated on what’s next. Let’s connect if you have any questions or need guidance on your real estate goals!

All the best,

Contact AJ for more information

AJ Chamberlin
📞 +1 (303) 588-8999
📧 aj@attitudehomes.com
🌐 www.attitudehomes.com

Credits:
Mark Sööt | Mortgage Loan Officer
Elevations Credit Union
📞 (303) 817-0089
📧 Mark@elevationscu.com
🌐 Visit Mark’s Website
1301 Walnut St., Suite 100, Boulder, CO 80301
NMLS: 403853

Mortgage Rates Drop Below 7%: Opportunities for Boulder Buyers

Hi Boulder!

Happy Wednesday! With chilly weather on the horizon, I hope you’re staying cozy and prepared. As temperatures dip, it’s a great time to focus on the exciting opportunities in today’s housing market. Let’s dive into the big news:

Mortgage Rates Under 7%

Big news for anyone considering buying a home: mortgage rates have dipped below 7%, marking a significant improvement in affordability. Even better, FHA loans have dropped below 6% with no points required! Lower rates mean lower monthly payments, allowing you to stretch your budget further and make that dream home a reality.

For first-time homebuyers or those re-entering the market, this is a golden opportunity. The combination of reduced rates and seasonal inventory shifts means there’s more room to negotiate and find the perfect match for your needs.

Big News: Medical Debt Removed from Credit Reports

In a groundbreaking move, the Consumer Financial Protection Bureau (CFPB) has officially finalized a rule to remove medical debt from credit reports. This change could mean an average credit score increase of 20 points, making homeownership more accessible to thousands of Americans.

Why does this matter? For many, medical debt has been a significant hurdle, impacting creditworthiness and mortgage approval. With this update, more potential buyers can now qualify for loans, unlocking doors to homeownership that were previously out of reach. If you’ve been hesitant to explore your options due to past credit challenges, now might be the perfect time to reassess your situation.

Current Rates and Buydown Options

Here’s a quick summary of today’s rates:

• Conforming (20% Down, $800K Purchase, $640K Loan):

• 30-Year Fixed: 6.5% (0.75 points) – 6.875% (0 points)

• 15-Year Fixed: 5.875% (0 points)

• Buydown costs (2-1): ~$12K to $14.8K

• Jumbo (25% Down, $1.4M Purchase, $1.05M Loan):

• 30-Year Fixed: 6.625% (0 points)

• VA/FHA (Max Financing, $750K Purchase):

• FHA 30-Year Fixed: 5.875% (0 points), 2-1 Buydown: $16.2K

• VA 30-Year Fixed: 6.0% (0 points), 2-1 Buydown: $17K

Why Now is the Time to Act

The combination of improved affordability through lower mortgage rates and higher credit scores creates a sweet spot for buyers. If you’ve been waiting for the “right time” to dive into the housing market, this could be it. Whether you're upsizing, downsizing, or buying your first property, conditions are aligning to make it easier to achieve your goals.

Let’s Connect

I’m here to help you navigate these exciting opportunities. Whether you’re exploring your next investment property or preparing a home remodel to sell, let’s work together to achieve your real estate goals.

Warmly,
AJ Chamberlin
📞 +1 (303) 588-8999
📧 AJ@AttitudeHomes.com
🌐 www.attitudehomes.com

Credits: 

Alison Kadans
Mortgage Advisor
NMLS #424853
D: 303.817.3356
E: Alison@AlisonLends.com
W: alisonlends.com

Corporate Address:
1805 E. Garry Avenue
Santa Ana, CA 92705
Arbor NMLS #236669 | Arbor DRE #01845041

AJ Chamberlin

Attitude Homes Team

303-588-8999

AJ@AttitudeHomes.com

www.AttitudeHomes.com

Contact AJ for more information.

Boulder Buzz Friday Highlights January 17 2025

Hi Boulder!

Happy Friday! As we gear up for a weekend of icy weather, I hope you're staying cozy and prepared. With subzero temperatures on the horizon, the city is stepping up by opening a 24-hour emergency warming shelter to protect our community’s most vulnerable. It’s a reminder of Boulder’s incredible spirit of care and resilience.

Now, let’s dive into this week’s highlights:

1. St. Julien Hotel’s Expansion Takes the Spotlight

The Boulder City Council made waves this week, approving a four-story addition to the St. Julien Hotel. This project includes 39 extended-stay suites, a nonprofit meeting space, and a pedestrian-friendly walkway. It’s a bold move that’s sparking both excitement and debate about views and traffic in the area. What’s your take?

2. A School for Inclusivity

The BVSD Board of Education is reviewing a proposal for Grove Elementary, a charter school focused on neurodiverse students and those needing special education. This could be a game-changer for inclusivity in education, though questions remain about budgets and staffing. Stay tuned for their decision next week.

3. Warming Up to CU’s Tennis Courts

Tennis lovers, rejoice! CU has opened its indoor courts at Balch Fieldhouse to the public. With Boulder losing tennis courts to pickleball and other projects, this is a welcome addition. Book your slot, grab your racquet, and make the most of this new opportunity.

4. Winter Prep: Keep Those Taps Dripping

With temperatures expected to dip below zero, don’t forget the little things that can save you big headaches: keeping your home warm and your faucets running. Boulder’s forecast includes up to 8 inches of snow by Saturday morning, so get ready for some classic Colorado winter magic!

5. Supporting Small Businesses

Boulder awarded $840,000 in grants to tackle office vacancies and help local entrepreneurs thrive. It’s initiatives like these that make me proud to call Boulder home—and keep our economy vibrant.

As always, Boulder, I love hearing from you! Let me know your thoughts on these updates or if there’s something on your mind. Whether you’re navigating the market, dreaming about your next home, or just looking to chat about the latest happenings, I’m here.

Stay safe, stay warm, and let’s keep this community thriving. See you out there—or maybe at the tennis courts!

Warmly,
AJ Chamberlin
📞 +1 (303) 588-8999
📧 AJ@Attitude.com
🌐www.attitudehomes.com

AJ Chamberlin

Attitude Homes Team

303-588-8999

AJ@AttitudeHomes.com

www.AttitudeHomes.com

8340 W. 67th Ave, Arvada, CO 80004

This meticulously remodeled semi-custom home offers unparalleled craftsmanship and exceptional amenities! Nestled within a short serene distance from Oberon Reservoir Lake and the vibrant Majestic View Park, which is only about 1.2 miles away and boasts tennis and basketball courts. This gem ensures easy access to Arvada High School via a safe 1.1-mile route devoid of bustling streets, and is just 10 blocks from the historic and culturally rich Old Town Arvada. Peck Elementary School is within close proximity, as well as the Majestic View Nature Center and the quaint Ladybug Park. Grocery shopping is convenient with Sprouts and King Soopers only 2.1 miles away.

Experience the arts and entertainment at the Arvada Center, located within a mile, featuring musicals and art exhibits. Golf enthusiasts will appreciate being just 1.1 miles from the APEX Indian Tree Golf Course and its Club House Restaurant. This home stands out with its unique design, offering a $4,000 landscaping allowance to customize your front yard.

The heart of the home is a designer kitchen, equipped with poplar cabinetry featuring soft-close doors and dove-tail construction. Modern appliances include an induction stove, dual dishwashers, a craft ice refrigerator, microwave drawer, and convenient spice cabinets. Elegant island pendants and a chandelier add to the ambiance. Practicality meets luxury with two laundry rooms, real solid white oak hardwood floors, plush carpeting, a den/study, and a vaulted family room that enhances the open concept layout.

Outdoor living is redefined with a massive 700 square-foot Trex deck, offering stellar views and privacy with a fully fenced 1/3 acre lot. The oversized 3-car side garage accommodates all your vehicles, boats, and trailers with ease. The finished basement is a versatile space, perfect as an in-law suite or ADU, complemented by extensive storage, new AC, an upgraded sprinkler system, and walkout access. The exterior's mostly brick construction ensures durability, and the property includes RV parking with the right ground cover.

Education is prioritized with access to outstanding JeffCo schools and the Apex Center. Modern conveniences include a new 200-amp electrical panel, updated plumbing, a roof replaced within the last decade, a sophisticated security system with a Ring doorbell, new sewer lines, and an upcoming injection pit installation. This home is a rare find, blending luxury, location, and convenience perfectly.

April 2024 Renassaince Stats Longmont

Reserve at Renaissance CURRENT ACTIVITY IN RESERVE AT RENAISSANCE Active Pending Sold

OUR MUTUAL OBJECTIVE IS TO SELL YOUR HOUSE

REAL ESTATE MARKET REPORT

RESERVE AT RENAISSANCE HOMES RECENTLY SOLD

AJ Chamberlin, Attitude Homes Team, and RE/MAX Alliance are not in any way affiliated with Reserve At Renaissance Home Owners Association, nor is this in any way an official advertisement or publication of

representation is based on sales and data reported by multiple brokers/agents to the IRES between October 26th, 2022 and April 3rd, 2024. Listings and sales may not be those of RE/MAX Alliance. The IRES does not guarantee the accuracy of this data, which may not reflect

all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Estimated square feet rounded down to nearest hundred.

STATUS STREET NAME BEDS BATHS

TOTAL EST. SQ. FT. LIST PRICE SOLD PRICE SOLD DATE

Sold Bella Vista Drive 4 4 4,811 $817,000 $775,500 03/07/24

Sold Arezzo Drive 4 4 2,420 $695,000 $705,000 10/16/23

Sold Bella Vista Drive 4 3 3,796 $790,000 $788,000 10/02/23

Sold Ravenna Place 3 3 2,420 $674,900 $674,900 09/29/23

Sold Naples Lane 4 3 3,796 $655,000 $755,000 08/30/23

Sold Arezzo Drive 4 3 2,523 $659,000 $675,000 05/25/23

Sold Ravenna Place 4 3 3,280 $695,000 $719,000 05/23/23

Sold Calabria Place 4 3 3,862 $749,900 $712,000 05/08/23

Sold Arezzo Drive 4 3 3,600 $735,000 $735,000 04/28/23

Sold Arezzo Drive 4 4 2,498 $700,000 $700,000 04/07/23

Sold Bella Vista Drive 4 3 3,796 $758,000 $780,000 03/31/23

Sold Ravenna Place 4 4 3,110 $725,000 $725,000 11/29/22

Sold Riley Drive 5 4 4,374 $799,900 $795,000 11/04/22

Sold Arezzo Drive 3 3 2,420 $650,000 $661,500 10/26/22

April 2024 Sugarloaf stats

Sugarloaf

OUR MUTUAL OBJECTIVE IS TO SELL YOUR HOUSE

REAL ESTATE MARKET REPORT

SUGARLOAF HOMES RECENTLY SOLD

AJ Chamberlin, Attitude Homes Team, and RE/MAX Alliance are not in any way affiliated with Sugarloaf Home Owners Association, nor is this in any way an official advertisement or publication of Sugarloaf. This representation is based on sales

and data reported by multiple brokers/agents to the IRES between December 21st, 2022 and April 3rd, 2024. Listings and sales may not be those of RE/MAX Alliance. The IRES does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the

area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Estimated square feet rounded down to nearest hundred.

STATUS STREET NAME BEDS BATHS EST. SQ. FT. LIST PRICE SOLD PRICE SOLD DATE

Sold S Peak Road 4 4 3,438 $1,435,000 $1,380,000 03/29/24

Sold S Peak Road 4 3 4,015 $1,675,000 $1,605,000 01/02/24

Sold Wild Tiger Road 3 2 2,824 $849,500 $850,000 12/22/23

Sold Mountain Meadows Road 3 2 1,248 $571,000 $545,000 12/18/23

Sold Mountain Meadows Road 3 4 2,915 $849,000 $820,000 11/22/23

Sold Sugarloaf Road 3 3 2,821 $1,650,000 $1,632,000 11/15/23

Sold Mountain Meadows Road 3 3 1,728 $867,500 $806,640 09/08/23

Sold Sugarloaf Road 3 2 1,368 $575,000 $545,000 09/05/23

Sold Sugarloaf Road 5 4 4,478 $1,850,000 $1,720,000 08/25/23

Sold Millionaire Drive 4 3 2,562 $1,090,000 $1,090,000 08/18/23

Sold Mountain Meadows Road 3 3 2,432 $824,900 $835,000 08/03/23

Sold Wild Tiger Road 4 2 2,016 $788,000 $778,857 05/26/23

Sold Lost Angel Road N/A N/A N/A $299,900 $299,900 05/25/23

Sold Old Townsite Road 3 2 2,909 $800,000 $800,000 12/21/22

HH Tax Appeal State Bill

Even if Prop HH passes, property taxes are still going up

CAPITOL REVIEW

By Mark Hillman

We didn’t need an election this November to receive a modest property tax reduction.

The legislature can cut taxes anytime; it doesn’t need voter approval.

But with Coloradans facing the largest property tax increase of our lifetime due to

soaring home prices, the legislature chose to put a massive expansion of government on the

ballot disguised as a property tax cut.

Remember this: even if Proposition HH passes, property taxes will still increase. If

property values double in the next 10 years, so will property taxes.

The deceptive ballot question asks: “Shall the state reduce property taxes for homes and

businesses…” That sounds good, so voters may not read much further. Even if they do, the

ballot never explains voting “yes” is agreeing to give up refunds under the Taxpayers Bill of

Rights (TABOR) and to permanently increase the cost of state government.

Voters are facing an average increase in home property taxes of 36% come next January.

In some communities, the increase could be nearly 50%. If Prop HH passes, the average

increase will be 26% - still the largest property tax increase of your lifetime.

The statewide average tax increase is estimated at $848 if HH fails and $617 if HH

passes. The only thing that truly decreases if HH passes are the annual refunds that voters

receive each year. This hidden part of HH will cost the average Colorado household $5,119 over

the next 10 years.

Even the legislature’s official ballot explainer says, “The measure results in a smaller

increase in property taxes than under current law.”

The devious part of HH is that lawmakers are paying for this small tax cut by taking it

way from TABOR refunds they owe to all taxpayers. They’re simply taking money out of your

left pocket to put it into your right pocket – and pretending they’re doing you a favor.

But all of that is small potatoes compared to the big picture bait-and-switch:

Tucked away in Prop HH is a provision that increases how much state government

spending can grow each year. Currently, the state constitution allows annual spending to

increase by the combined rate of population growth plus inflation. For 2023 that’s 8.5% or

about $1.5 billion in new spending.

Prop HH will add an extra 1% every year for 10 years. By 2032, that extra 10% adds up

to $2.2 BILLION A YEAR – all taken away from taxpayer refunds.

That’s not the end of the HH scam.

After 10 years, the legislature can continue to add 1% more per year to state spending

without voter approval. The only requirement is that lawmakers extend the HH property tax

rates. But if property values continue to soar, your property taxes will soar right along with

them.

Keep in mind the legislature has already increased regulation, taxes and fees by $1.8

billion – mostly without voter approval.

That’s still not the end of the HH scam.

Renters really get shafted by HH because they disproportionately lose their TABOR

refunds but won’t benefit from the small reduction in property taxes. Under HH, rental

properties are taxed at higher rates than owner-occupied properties, so rent costs will

inevitably increase to pay those taxes.

Worse still, the Legislature tries to bribe renters with a one-year change giving all

taxpayers equal refunds for 2023 only. Taxpayers with income under $99,000 will receive an

“extra” $37 to $233 for one year only. By the end of 10 years, higher state spending will eat up

everyone’s refunds.

Common Sense Institute predicts that renters “are the biggest losers” from Prop HH

because they will see none of the benefit from property tax reductions but will lose an

estimated $5,119 in tax refunds over the next 10 years.

Why would anyone vote for Prop HH? Proponents argue it will greatly improve public

school funding. So why didn’t they simply put that question on the ballot? Obviously because

they feared voters would say “no” unless tricked into thinking they were voting for a property

tax cut.

If Prop HH fails, Gov. Polis and lawmakers still have time to call a special session to pass

a straight-forward property tax cut. They passed the bill that created Prop HH in just three days.

They can do the same with real property tax relief. And they should.

Mark Hillman served as Senate Majority Leader and State Treasurer. To read more or comment,

go to www.MarkHillman.com.

CU Students Get Money Back from Class Action Lawsuit

https://www.dailycamera.com/2023/04/19/university-of-colorado-class-action-lawsuit-2020-5-million/?utm_email=54E1148A54201530D458F4FF5F&g2i_eui=5w6nOeHH4KkB%2f1ZICoFPFL%2bu%2bbg7i0a3&g2i_source=newsletter&lctg=54E1148A54201530D458F4FF5F&active=no&utm_source=listrak&utm_medium=email&utm_term=https%3a%2f%2fwww.dailycamera.com%2f2023%2f04%2f19%2funiversity-of-colorado-class-action-lawsuit-2020-5-million%2f&utm_campaign=pmp-daily-camera-morning-headlines&utm_content=curated

Commercial buildings and what classes and stars mean

Office Star Rating Definitions RATING GROUP DEFINITION «« ««« A 5-Star office building is exemplary of a state-of-the-art, category defining structure that represents the latest trends and quality in design and construction, prominent in its context or of a landmark status, and very likely a certified sustainable and energy efficient building. Buildings rated to exhibit the nation’s current set of highest quality structures and form the benchmark of current excellence in office buildings. Architectural Design Exterior Materials/ Façade High-quality durable materials – natural stone, glass, well detailed metal panels; accentuating lighting. Lobby/ Common Areas Double height or atrium lobby with top quality finishes/materials and artwork, clear and intuitive layout for visitors, comfortable waiting area, accentuating lighting, high level of finish in other common areas and elevator cabs/lobbies. Fenestration/ Glazing/ Views Full height glass, corner windows, abundant natural day lighting, generally available exterior views, high ratio of glazed to opaque exterior walls, highly efficient glazing specifications. Overall Aesthetics Positively differentiated from background buildings yet contextually appropriate. Representing current trends and standards in design and/or of a timeless, perhaps a historic quality. Aesthetically exceptional arrangement of forms, massing and materials. Likely designed by a notable or signature architect. CoStar Building Rating System COSTAR BUILDING RATING SYSTEM 5 RATING GROUP DEFINITION Access Clearly articulated entrance identified with an architectural feature; truck and service entrance distanced from main entrance. Structure/Systems High ceiling heights/slab-to-slab dimensions, efficient and virtually column free floor plans; modern energy-efficient HVAC, digitally controlled building automation systems, individual control/VAV units, efficient elevators with continuous shafts serving parking levels and upper floors, dedicated freight elevator. These buildings are likely to be constructed recently or undergone a significant renovation. Amenities/ Management Concierge, on-site management, fitness center, services (dry cleaning, shoe repair, etc.), security with streamlined ID and badging process, on-site conference facilities, bicycle storage, shower facilities, and other highly demanded amenities. Site/Landscaping/ Exterior Spaces Continually maintained landscaping where applicable; exterior gathering spaces, roof terrace or courtyard. Certifications Very likely a certified/labeled green and energy efficient building. At a minimum level, a 5-Star building typically includes the following: exterior materials listed above, a glazing ratio of approximately 75%, 12’ slab-to-slab dimension, a column free floor plan, a regular floor plate shape, and multiple desired amenities. «««« A very high quality building that maintains market leadership through the strength of its initial construction, continual above average maintenance and desirability for tenants and investors over time, These buildings are likely to be older than the current 5 Star set. Architectural Design Exterior Materials/ Façade High-quality durable materials – likely similar to 5 Star type yet possibly exhibiting signs of age and wear. Lobby/Common Areas Large lobby with clear circulation, above average finishes, comfortable waiting area. Fenestration/ Glazing/Views Full height glass or ribbon windows/large punched windows, great natural day lighting and views. Overall Aesthetics Positively differentiated from background buildings yet contextually appropriate. Representing recent trends and standards in design and/or of a timeless, perhaps a historic quality. Access Clearly articulated entrance identified with an architectural feature, truck and service entrance distanced from main entrance. Structure/Systems Likely to have some 5 Star qualities, or of a prior generation of buildings. Amenities/ Management Likely to have some 5 Star qualities, possibly without service oriented amenities. Site/Landscaping/ Exterior Spaces Well maintained landscaping where applicable; likely to have exterior gathering spaces, a roof terrace or courtyard. Certifications Likely a certified/labeled green and energy efficient building. ««« Architectural Design Exterior Materials/ Façade Brick, stucco, EIFS, precast concrete, or possibly higher rated materials with signs of age and wear. Lobby/ Common Areas Modest lobby size and finish, clear lobby layout for visitors. Fenestration/ Glazing/Views Punched or ribbon windows, fair mix of glazed and opaque surfaces that provides adequate natural light. Overall Aesthetics Average with respect to background buildings, contextually appropriate. Access Undifferentiated but obvious main entrance. Structure/Systems Minimal ceiling height, smaller, less flexible floor plate, likely older and renovated. Amenities/ Management Some standard amenities. Site/Landscaping/ Exterior Spaces Modest landscaping and likely small or no exterior spaces. CoStar Building Rating System COSTAR BUILDING RATING SYSTEM 6 RATING GROUP DEFINITION Certifications Possibly a certified/labeled green and energy efficient building. «« Architectural Design Exterior Materials/ Façade Brick, stucco, EIFS, precast concrete, with noticeable aging. Lobby/Common Areas Minimal or no lobby. Fenestration/ Glazing/Views Small, seemingly inadequate windows. Overall Aesthetics Average, functional. Access Unarticulated entrance. Structure/Systems Purely Functional. Amenities/ Management Likely none. Site/Landscaping/ Exterior Spaces Minimal or no landscaping, no exterior spaces. Certifications Unlikely a certified/labeled green and energy efficient building. « Practically uncompetitive with respect to the needs of a typical office tenants, may require significant renovation, possibly functionally obsolete. The building may have been originally constructed for non-office use.

Boulder Library Computers and Bathrooms are back open!

Main Library Update

Restrooms reopen and computer access returns

The library is taking steps to prevent future issues and keep the community safe. This includes: 

• Monitoring public restroom access 

• New private security firm with expanded coverage 

• Increased police presence in and around the building

Ten Chromebook laptops with access to browser-based resources are now available for use in-house. Soon, eight desktop PCs equipped with Microsoft Office and Adobe Creative Suite installed will become available.

Why Do Republicans want to ban TikTock?

TikTok are videos and posts from the general usually younger population that instantly post unedited real time data on what is really going on in the world. And many times it is the only valid source of unedited information. It is a hub for young people to be seen and to be heard.

This is very dangerous to the Republican party as they know that generally young people are very independent non religious people that do think for themselves. And they are not about to let the Republicans roll all over their rights and control their bodies and minds.

They do not want companies to destroy the safety and sanctity of their world. They do not want their world to be destroyed with polution! They do not want anymore school shootings. They question the need for AR15’s by anyone other than to shoot other people. These bright smart people know that the Republicans want to take away their votes and create a class system in which these youngsters must clean, cook and take odd jobs for the rich. They know that the Republicans want to keep them from getting citizenship or from being educated.

That is why the Republicans are scared to death of Tiktok.

https://www.politico.com/news/2023/03/01/house-republicans-tiktok-ban-00084951

Wall Paper is coming back in!

Wall paper is coming back in style! Look at these fantastic examples of how to use wall paper in your home.

This is one of the many reasons why I go on my office tours and why I try to hit as many broker opens as possible! Time permitting of course.

Can I say that I am always busy!

The New Boulder Library district. Which way to vote

Boulder Library District

For what?
By Bob Yates

For what? By Bob Yates September 2022 Would you pay more in taxes? If I asked you that question, you’d probably ask back, for what? What will we be getting for the extra money out of my pocket? Maybe yes, maybe no. You’ll have to convince me. Boulder voters have been quite generous in approving new taxes through the years. We have voted to tax ourselves to buy Open Space, to maintain our parks and our streets, to build cultural and human services facilities, to take our share of responsibility for climate action, and to construct affordable housing so that people of all income levels can enjoy what we have here. Under Colorado law, no tax can be imposed, increased, or extended without a majority vote by those paying the tax. That’s as it should be. Boulder voters have rarely met a tax that they didn’t support, as long it pays for something they value. So, it will be interesting to see what Boulder voters will do with a proposed new library tax on this fall’s ballot. There’s no doubt that Boulder has a great library, with an award-winning main library downtown, a historic research facility on Pine Street, branches in southeast and southwest Boulder, and a new branch opening next year in North Boulder. Our library is more than a place to check out books. The downtown library hosts an art gallery that showcases local artists, a 200-seat theater for performances and presentations, and a maker space, where people of all ages can build and create. Library programs run the gamut, from adult literacy and English classes, to bee-keeping presentations (there are bee hives on the roof of the main library), to story hours for little kids and gaming for teens. Odds are, you can find something that interests you by browsing the library’s website. So, how much does this all cost us? About $9.2 million this year in operating costs for the library. City funding for the library has gradually increased over the years. After the financial setback caused by Covid that reduced all city budgets—including the library’s—city council is about to approve the 2023 municipal budget, which will not only restore the last of the Covid cuts, but will significantly increase the library’s funding compared to before the pandemic. Under the proposed 2023 budget, the library’s funding will grow by 21% next year, to $11.1 million, an almost $2 million bump over this year’s funding. By comparison, the police and fire budgets are going up 4% and 6%, respectively. Likewise, the library staffing will grow from 75 full-time equivalent employees this year (and 67 last year), to a budgeted 86 next year. Because the city suffered significant budget cuts for all city departments over the last couple of years due to the pandemic and corresponding economic downturn, it is perhaps more informative to compare the proposed 2023 budget to budget years prior to 2020. The pre-Covid operating budgets for the library were $8.7 million in 2019 and $7.7 million in 2016. So, the 2023 funding for the library represents 28% and 44% percent increases over those four- and seven-year periods, respectively (see the graph below). Most of the funding for the library comes from the city’s General Fund which, in turn, has sales tax as its biggest source. That’s one thing that’s cool about living in a town where nearly half of our sales tax is paid by people visiting from places like Arvada, Anaheim, and Amsterdam. Those visitors come and enjoy our town and leave their sales taxes behind, affording residents a better standard of living than most towns of 100,000 people. Our libraries are the beneficiaries of this. You might wonder: If we have great and growing library facilities and programs, funded in large part by visitors who stop through for a few hours or days, what’s not to like? Well, of course, there always could be more. In addition to the new North Boulder branch opening next year, some people would like to see another library branch built in Gunbarrel, which is partially in the city. Others would like to see expanded library hours or even more extensive programs. Still other folks don’t like the fact that the library has to compete for funding each year with other city services, like police and fire protection, street maintenance, and parks and open space operations. They want the library to be operated independent of the city, to leave the city’s management, and to have its own, separate funding source. So, those people—a group calling themselves the Library Champions—have placed on this fall’s ballot the question of whether voters want a new, independent “library district.” Such a new library district would primarily encompass the city limits, but would go a bit farther and pick up the parts of Gunbarrel that are in the county, as well as a few mountain communities, like Jamestown and Ward. In a way, such a library district, if approved by the voters, would be similar to other governmental taxing districts we’re familiar with, like the Boulder Valley School District (BVSD) or the Regional Transit District (RTD), with its own board, its own employees, and its own funding source. Of course, a new library district that seceded from the city would need to look to the city to obtain its buildings and books, which are currently owned by the city and which have been paid for by city taxpayers over the decades. How a new library district would get these assets, and how it would be governed, are details to be worked out after this fall’s vote. We won’t know before we have to vote whether the city will sell, lease, or give way the library buildings to the new library district. Any, it’s anyone’s guess how the new government entity will be governed. It’s a bit ready, shoot, aim. There are certainly arguments pro and con over whether we should form a new government entity to run what is now the city’s library. Some government districts—like BVSD—seem to run pretty efficiently; others—like RTD—not so well. But, my big concern is the how a new library district would be funded. By departing from the city, the new library district would no longer have access to the city’s $9 million in funding that comes primarily from sales tax. Under state law, a library district (there are about 50 of them in Colorado, a majority in rural areas) must get its funding from property taxes. And, there’s the rub: While the city runs a pretty darn good library for about $9 million a year (soon to be $11 million), a lot of which is paid by visitors’ sales taxes, a new library district will need a new funding source that comes exclusively from property taxes paid by local homeowners, renters, and businesses. But, rather than simply replacing the $9 million that the city now spends to run the library, the folks promoting a library district want to collect $19 million in annual property taxes to operate their new government entity, more than twice as much as the city now spends on the library. Some of this proposed property tax increase is caused by the simple inefficiency of breaking one thing into two, with all of the duplication of expenses to staff libraries and operate the buildings (the economies of scale are often why you see two entities merge). And the promoters of the proposed library property tax increase promise to build a Gunbarrel branch and to increase library services and programing. Is it worth it? That will be your call. You might wonder, what will this cost me? The proposed new library property tax would be 3.5 mills. By comparison, the city’s property tax mill levy is about 12 mills, as part of a total 86-mill property tax that includes funding for the school district and the county. So, an increase of 3.5 mills for a new library district would be about a 4 percent property tax increase for Boulder homeowners and businesses. For those within the new library district’s boundaries but outside the city limits, the tax increase would be more. If you own a home in Boulder, the math is pretty simple: For every $100,000 you think your property is worth (or the County Assessor thinks it’s worth), you will pay an incremental $23 each year under the proposed new library property tax. 1 If your home is worth $1 million (a bit below the median these days), that will mean an extra $230 in annual property taxes. For a $2 million home, you’d pay an extra $460 per year. And so on. For commercial property owners, the tax increase is four times this rate, due to state law. The proposed annual library property tax increase will be $92 for every $100,000 in commercial property value. Most small business tenants, like retail shops, restaurants, and hair salons, pay a portion of their rent in “triple net” payments, meaning the landlord just passes on to the tenant tax increases, dollar for dollar. So, those small businesses will have large increases in expenses, which they’ll presumably try pass on to customers in higher product or services charges. Other small businesses will decide to leave Boulder, or will simply close shop. For residential tenants who rent their house or apartment, the calculation is a bit more opaque. While the landlord’s annual property taxes will go up at the residential rate of $23 per $100,000 in value, it will be up to the landlord whether to pass some or all of this extra tax along to residential tenants. Some will and some might not, at least not right away. The amount of the rent increase for residential tenants will be determined in large part by what the market will bear. But, you can be sure that most landlords won’t want to operate their residential properties at a loss. If the new library property tax passes, what will happen to the $9 million (soon to be $11 million) that the city spends operating the library? Won’t that money be freed up if a library 1 Note: These tax calculations are net of the elimination of a very small city property tax that now goes towards funding the library and which likely will go away if the bigger library property tax is passed. district is formed? Can’t that tax money be returned to taxpayers, or applied to another worthy city service? Don’t count on a city refund or tax rate decrease (I have tried that, but got no support from my council colleagues or city staff). In a few years, after a new library district is up and running and collecting its own new property tax, the city will certainly be relieved of the financial burden of running the library. But, don’t expect to see an $11 millions “windfall” any time soon. A couple of reasons: First, even if a new library district and new library property tax are approved by the voters this fall, it will take the new government entity at least two or three years to get operational and start collecting its own property tax money. During this transition period, the city will effectively need to “loan” the operating expenses to the new library district (it remains to be seen how or whether this loan will be paid back). Second, while the $11 million budgeted for the library next year is a lot of money, it’s only about 2% of the city’s overall $514 million budget for 2023. As we just saw during the Covid downturn, as well as during economic recessions in 2008 and 2003, the city’s funding sources can shift pretty dramatically, sometimes by more than 10% per year. We don’t know what the economic conditions will be in 2025 or 2026 (or beyond), when the city’s library funding theoretically will be “freed up.” It may very well be that these dollars will be gobbled up covering the next economic downturn (there will be one; there always is). In short, there is false precision in saying that $11 million will simply drop into the city’s lap, someday. Some people would like the city council to declare today what a future “windfall” might be used for. We can’t do this. First, we don’t know how much will become available, when it will become available, or what other needs or shortfalls might exist when the library is on its own in a few years. Second, this city council cannot bind future city councils. We cannot legally control the new people who will be elected to city council in 2023, 2025, or thereafter. So, anything that current city council members casually say in 2022 would be non-binding and symbolic (and, misleading, in my opinion). While the proposed $19 million new library property tax is double what the city now spends on the library, most of the $9 million in taxes currently used to support the library are not going away. Taxpayers will still pay nearly all of that $9 million, which the city will simply rededicate to other purposes if and after the new library property tax is approved. Thus, the total amount of these two sets of tax contributions will go from $9 million today to about $28 million if the new library property tax is passed. The decision whether we should have a new library district and a new library property tax is yours, as it should be. If you think what is being promised is worth the incremental amount you would pay in property taxes, you may decide to vote in favor of the tax increase this fall. If you don’t think it’s worth the increase in property taxes, or you believe that there are other ways to improve funding for our city library without giving away the city’s books and buildings and paying a lot more, you might consider voting no. There are both ‘yes’ and ‘no’ campaigns out there, and you can read their arguments here and here, respectively. The proposed new library property tax will be only one of several tax proposals on this fall’s ballot, including a climate tax proposal from the city and transportation and infrastructure tax proposals from the county and the school district. In the October issue of the Boulder Bulletin, I’ll weigh in with my thoughts on each fall ballot measures. But, I’ll say now that I am opposed to this new library property tax. It’s too much for too little. If you’re like me, you’ll carefully consider what each tax proposal on the fall ballot will cost your household and whether what the community will get in return is worth it. Some I will support, others I will reject. Even though I’m a city elected official, I hold accountable the government entities that collect my taxes. If I don’t like how they’re spending my hard-earned money, I say so. You should too.

Free Co-Working Space on Earth Day

If you work from home or a local coffee shop and would like to try a co-working space, you can test one for free on Earth Day. This Tuesday, April 22nd, is Earth Day and shared office space provider, Regus, is granting you the opportunity to do so. Regus has 16 offices in the Denver area including the latest in Boulder at 1434 Spruce Street. They also have an office in Broomfield at 12303 Airport Way and are expanding to Ft. Collins and Loveland within the year. They offer a commute calculator to show how much time, carbon and money you'd save by working at one of their offices close to you. Stop by to check out their space and see if shared office space might work for you.
 

Historic West Highland Zen Temple goes off the Market

The historic West Highland building that houses the Zen Center of Denver went on the market yesterday.

The 17,090-square-foot building at 3101 W. 31st Ave., built in 1920 near the intersection of Speer and Federal Boulevards, represents one of the first commissions by renowned architect Burnham F. Hoyt, who is best known as the architect of the Red Rocks Amphitheatre.

Hoyt also designed such landmarks as the Central Denver Public Library and the State Capitol Annex Building.

Hoyt designed what is now the Zen Center for the Fourth Church of Christ Scientist. The church sold it to the Zen Center in 1998, making it only the second owner.

The building, which includes an adjacent11,492-square-foot parking lot at 3055 Speer Blvd., is being listed by Billy Riesing of Pinnacle Real Estate Advisors.

The lot is zoned U-MX-3, which would allow a three-story, mixed-use building that could include housing, retail or office components.

Both properties are being sold together.

“We are going to market with an undisclosed list price,” Riesing said.

“It is such a very unique building with some various potential buyer profiles that we felt it was best to bring it to market.”

After 60 days, they will consider the best offers.

Riesing has been meeting with the non-profit owners of the parcel for about a year.

“They are just an amazing group,” he said. “They do a lot of different meditation and seminars and retreats.”

Why are they selling?

“Ultimately, they absolutely love the building,” Riesing said.

“But they wanted to find something more conducive for their needs. And given the strength of that whole West Highland neighborhood, which is one of the hottest and most popular areas is all of central Denver, they their timing was per rect to take advantage of the strong market and sell.”

He said a potential buyer could range from a religious organization to historic developers.

“I think there are a handful of select groups out there that do very well and have a strong track record of historic redevelopments that could position this building for an entirely different use,” Riesing said.

“There are some very sophisticated investment groups out there that I think will be extremely interested in this site,” he continued.

The buyer could redevelop the 73-space parking lot or could keep it for parking, at least initially, he said.

“The parking lots bring a value-add component to this deal,” Riesing said.

“The parking lot has short-term or long-term value,” he said. “The next owner might want to develop it right away. The U-MX-3 zoning is pretty flexible, allowing a number of uses. Or, someone could continue to use it as parking, with the idea of redeveloping it in five or 10 years, let’s say.”

Whoever buys it, will not be able to raze the historic structure or make major architectural changes to it.

The building was listed on the National Register of Historic Places in April 2004.

The Renaissance Revival style showcases detailed masonry craftsmanship, vaulted ceilings, colored glass panes, a “breath-taking “amphitheater with a double-shelled skylight, and an Austin Pipe Organ with Echo Loft, he said.

The building has received funding from the state’s Historical Trust and there are covenants in place restricting what can be done in the interior, he said.

“Whoever buys it would need to understand the limitations in place because of the State Historical Funding,” Riesing said.

“But anybody who sees the gorgeous interior would want to preserve it,” he said.

“The exterior, of course, can’t be touched except for needed maintenance,” he said. “While Burnham F. Hoyt is best known for Red Rocks, he did a lot more than that. It is is unfortunate that some of his buildings have been torn down over the years.”

He said the building took about eight years to build.

“It’s going to be standing long after all of us are gone,” Riesing said. “It’s an amazing building and the sellers want to find the perfect buyer for it. It’s truly a masterpiece.”

On a personal level, Riesing meditates, but he said that played no role in him landing the assignment.

“It never came up,” he said.

Rather, he said, Pinnacle was chosen because of its knowledge of the local market and its extensive list of local and national contacts.

Source: Land Title Guarantee

Existing Home Sales: 12,575 sold yesterday!

If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes to purchasing real estate. That is actually far from reality. After all, 12,575 houses sold yesterday, 12,575 will sell today and 12,575 will sell tomorrow. 12,575! That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, annualized sales now stand at 4.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 12,500 homes sell every day. If you are considering whether or not to put your house up for sale, don't let the headlines scare you. There are purchasers in the market and they are buying - to the tune of 12,575 homes a day.

Source: Keeping Current Matters

Bills to Help Homeowners Avoid Foreclosures Recently Pass

Colorado Legislature has passed 2 bills aimed at protecting homeowners from undergoing wrongful foreclosure in Colorado. The Colorado Senate passed a bill to prohibit "dual tracking", in which a lender negotiates with a customer for loan modifications while also pursuing foreclosure. The bill is necessary to help low-income families quickly and easily access housing protections. Read more at the Denver Business Journal.