by neil kearney | Feb 5, 2007 | Uncategorized
Saturday was a very exciting day for the Boulder Area Realtor® Association. After three and a half years of fundraising, meetings, partnerships and bureaucratic red tape, the Southern Lights housing project finally had its kickoff 
celebration! I have been in on the planning and meetings since the beginning and am very happy to see BARA participating in the community in such a meaningful way. The project will be the homes for 4 families and is located in the Holiday Neighborhood on the North side of town. The buildings were designed by Wolff-Lyon Architects and will be constructed by Cottonwood Construction (thanks Matt Fitzrandolph) along with a volunteer effort which will include at least five Saturdays of Realtors® with hammers, a bit of a scary thought.
The photo above shows the ceremonial check presentation of $50,000 from BARA to Mark Jellison of AHA (Affordable Housing Alliance). The photo below shows some of the people who have committed to purchase a home. This should be an exciting project and I look forward to helping with the construction.
by neil kearney | Feb 2, 2007 | Uncategorized
I recently heard a funny story from one my Realtor® colleagues in the office. He was showing a home in the mountains and after knocking on the door he and his client started viewing the house. As they viewed the house together the agent opened the broom closet door only to find the seller hiding in the dark. They made eye contact and then the agent closed the door and they continued the showing. Not a word was spoken! After they left the house the client asked the agent “did you see a person in the closet?”. They laughed all the way down the hill.
I can think of two reasons for the Sellers to hide: 1) They had been strictly instructed by the listing agent to be absent for showings. They for some reason couldn’t be gone so they did the next best thing, hide. 2) The Seller didn’t want to wait to get feedback through the normal channels. This gives a new meaning to Seller agent.
We see a lot of crazy stuff out there.
by neil kearney | Jan 25, 2007 | Uncategorized
The media is filled with stories of foreclosure, especially in Colorado. It is clear that there are many people losing their homes all over, but what is the cause. Here are a few 
of main reasons:
- Divorce – Most people count on two incomes to pay for the mortgage. When a couple separates all of a sudden there are two homes to pay for instead of one. On top of that there are attorneys to be paid and it all doesn’t happen quickly.
- Prolonged Illness – Medical bills along with lost income is a recipe for disaster.
- Employment Problems – When you lose your job and don’t have enough savings you have to choose what bills get paid.
- High Loan Balance – Mortgage money is easy. Between a first loan, a second loan and a home equity line of credit many people have used their homes as an ATM machine. When the time comes to sell, they do not have enough money left over to pay selling fees and are forced to try to sell for a price that is above the market value. When it does not sell, many times it is too late and the Sellers are forced to move on. sometimes it is easier to leave the house with no equity than it is to delay your life or make double payments.
- Adjustable Rate Mortgages – When the adjustment takes place the payment becomes more than what they can afford. Sometimes the payment increases by 40% or more. However, most people right now are able to refinance into a fixed rate mortgage for around 6%, which should be able to mitigate the increase.
Each situation is different but the main reason we are seeing foreclosures now is that home values have not risen. When home prices are rising bad decisions do not become disastrous decisions. I remember locally when our appreciation rates were annually around 20% homeowners were spending taking out equity loans to go on vacations, buy cars etc. As long as the prices kept rising they were dumb but okay. In our market there are areas that have been selling for the same price for the last five years. A high mortgage balance and a slow market does not allow homeowners to liquidate their bad decisions. They are stuck. In the end the underlying reason for most foreclosures are stagnant or declining market values.
by neil kearney | Jan 18, 2007 | Uncategorized |
OPEN HOUSE SUNDAY 1-3
I’m holding an open house at this beautiful listing this coming Sunday. I’d like to invite you to come take a look at this beautiful home. You will find it has beautiful features usually only found in $Million homes including: a professional kitchen with Viking 6 burner stove, Sub-Zero fridge, Miele dishwasher, extensive tile work, upgraded Marvin windows throughout, 
beautiful high end bathrooms and much more. The house sits on a large beautifully landscaped lot with many trees, a private deck and a water feature. Neighborhood pool directly across the street and open space and trails in the near vicinity. You can view a virtual tour at http://www.6820TwinLakes.com. Below is a list of some of the upgrades.
General/External
Unobstructed mountain views
Very large lot with professionally landscaped yard – fenced – mature trees and shrubs with sprinkler and Koi pond
Large – very private redwood deck with build in custom cabinetry with sandstone counter tops
Exterior landscape lighting package
Two car garage with attached storage for garden equipment – mower – shelving, etc.
Air Conditioner replaced in 2004
Exterior cabinetry replaced in 2006
Wired for stereo speakers
Internal
- Family room fireplace replaced in 2006 with an energy efficient gas unit which can replace the furnace with thermostat, fan, and remote control
- Windows replaced with Custom Marvin Windows in 2004
- All custom window coverings by Hunter Douglas
- Kitchen/family room upgraded in 2001 with Subzero frig, Viking stove and hood, custom oak cabinetry, porcelain tile floors and ceramic counter tops, under counter lighting, retro fit custom draws in cabinets
- Powder room with Zen sink and custom maple cabinetry – hall bath upgraded with tumbled marble floors and walls, custom alder cabinets, designer lighting package, Jado fixtures, Toto toilets, and custom artist paint/textured walls
- Complete interior wall re-paint with Benjamin Moore paint products 2006
- New Horchow lighting fixture in foyer
- Dinning room wall paper hand made in France
Basement
- Approximately 1000 square feet
- Plumbed for bathroom fixtures
- Partially walled for storage
- Cabinets and built-in microwave
Notice: All opinions contained herein are personal and do not necessarily reflect the opinions of Kearney Realty Co or Metro Brokers Inc. All statistical information is deemed reliable but is not guaranteed. It is compiled for your information and enjoyment. The purpose of this site is to give detailed information about real estate in Boulder Colorado. Please contact me if you have any questions concerns or want to become a client.
by neil kearney | Jan 16, 2007 | Boulder County Housing Trends, Uncategorized
Yesterday, I showed the level of activity in our local real estate market by month. The result was a nice curve that peaked in June. Today I’m going to show the median closed prices by month. The chart below shows very little correlation between price and the month it sells. In my experience the time of year affects time on the market more than price. 
As always, I’d love to be of service. Give me a call and I’d love to show you how your home fits into the local market.
by neil kearney | Jan 12, 2007 | Uncategorized
It was announced yesterday that the convention to choose the next Democratic presidential candidate will be held in Denver. The last time Denver held this event was in 1908. The events are not expected to officially spill over into Boulder but I’m sure the events will have a positive impact on the entire region. It seems like all you need to do to get a good snowstorm is schedule a Monday Night Football game. Maybe we will be lucky and be able to highlight, in my opinion, the most beautiful time of the year in Colorado.
celebration! I have been in on the planning and meetings since the beginning and am very happy to see BARA participating in the community in such a meaningful way. The project will be the homes for 4 families and is located in the Holiday Neighborhood on the North side of town. The buildings were designed by Wolff-Lyon Architects and will be constructed by Cottonwood Construction (thanks Matt Fitzrandolph) along with a volunteer effort which will include at least five Saturdays of Realtors® with hammers, a bit of a scary thought. 
