Estes Park flooding impact

Estes Park flooding impact

More than 1,000 jobs could be lost because of a drop in tourism as a result of the recent flooding in Estes Park,  according to an analysis byColorado State University.

 

A drop in tourist visits to Estes Park as a result of flood-damaged roads could have a ripple effect through the rest of Colorado’s economy, shows a preliminary analysis conducted by the Regional Economics Institute at CSU.

With major roads leading into Estes Park damaged or destroyed, it is clear there will be a drop in tourist activity, the report notes.

The full extent will depend on how quickly the state’s highway infrastructure in the northern foothills can be repaired.

The report examined a variety of scenarios, including the possibility that tourist visits to the western gateway to Rocky Mountain National Park could drop between 30 and 100 percent.

If tourism activity in Estes Park were to decline 70 percent, it could translate into a loss of 1,111 jobs, a $90 million decrease in stateeconomic activity, and a $46.1 million drop in real household income. In addition, state tax revenue could dip by $5.8 million and local tax revenue by $4.4 million.

“We know that tourism is a major driver of Colorado’s economy and the damaging floods will certainly have an impact on access to Estes Park, one of Northern Colorado’s strongest tourist draws, though only time will tell how significant that impact will be,” said Martin Shields, director of the Regional Economics Institute at CSU. “Our preliminary research, however, indicates that any reduction in tourist visits to Estes Park will have an impact on the state’s broader economy and it could be significant. We’ve provided some very rough numbers in our report, and more study would be warranted to understand the complete picture.”

Shields, co-author of the report with professor of economics Harvey Cutler, believes that if reduced accessibility to Estes Park persists into 2014, many potential visitors will reconsider their vacation plans. This reduces not only visitation to Estes Park and Rocky Mountain National Park, but complementary destinations in Colorado as well, from Fort Collins to Colorado Springs along the Front Range and from Steamboat Springs to Aspen in the mountain areas.

Estes Park saw an estimated $187 million in tourism expenditures in 2011, with approximately 56 percent of visitors from out of state. The report also projects the impact of 100-percent and 30-percent losses of tourism activity in Estes Park and demonstrates the economic urgency of repairing tourism-critical roadways. Read full article here 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

September – 2013 Real Estate Market Stats

September – 2013 Real Estate Market Stats

The leaves are changing, the temperatures dropping and there is a slight uncertainty on how the last three months of 2013 will progress. One thing that is certain is that the housing market in Colorado is still very strong and record numbers continue to be the trend each month.

Wishing you a colorful October!

September – 2013 Real Estate Market Stats

Residential Sales

Entire MLS (All Areas)

Residential Highlights:

  • 18% increase in the number of closed sales year-over-year
  • 20.2% increase in the number of closed sales year to date
  • 39.1% decrease in average days on market (39 days in September)
  • .7% decrease in # of active listings
  • 11.4% increase in # of new listings (4097 new listings in September)
  • 8.1% increase in average price – sold ($331,382 in September)

Condo Highlights:

  • 26.7% increase in number of closed sales year-over-year
  • 26.8% increase in number of closed sales year to date
  • 42.2% decrease in average days on market (37 days in September)
  • .7% decrease in #  of active listings
  • 7.1% increase in # of new listings (968 new listings in September)
  • 11.5% increase in average price – sold ($208,364 in September)

Click here for Full report of entire MLS

Courtesy of Land Title

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

Citigroup to pay Freddie Mac $395 million on suspect mortgages

Citigroup to pay Freddie Mac $395 million on suspect mortgages

A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. REUTERS/Brendan McDermid

By Jonathan Stempel

Wed Sep 25, 2013 5:39pm EDT

(Reuters) – Citigroup Inc on Wednesday said it agreed to pay $395 million to Freddie Mac to resolve claims of potential flaws in roughly 3.7 million mortgages it sold to the housing finance company from 2000 to 2012.

Citigroup, the third-largest U.S. bank, said the settlement also covers potential future claims arising from the loans bought by Freddie Mac, a large purchaser and guarantor of home loans.

The deal follows an agreement by Citigroup in July to pay $968 million to settle similar claims by Fannie Mae, the largest U.S. mortgage finance company. Both Fannie Mae and Freddie Mac were bailed out by the federal government in 2008.

“Today’s agreement with Freddie Mac marks another important milestone in successfully resolving Citi’s remaining legacy mortgage issues,” Jane Fraser, chief executive of CitiMortgage, said in a statement.

Freddie Mac also praised the settlement. “The agreement is an equitable one that resolves legacy repurchase issues, and allows both companies to move forward,” Freddie Mac spokesman Tom Fitzgerald said.

Citigroup said the payment is covered by its existing mortgage repurchase reserves.

The New York-based bank received three federal bailouts in 2008 and 2009, and has since been shedding or scaling back in some of its higher-risk, slower-growing businesses.

Many banks including Citigroup sold millions of home loans to Freddie Mac and Fannie Mae, which in turn packaged them into securities that could be sold to investors.

In selling mortgages loans, banks make representations and warranties such as how well the loans were underwritten, and whether the borrowers can afford them. Banks can be forced to repurchase soured loans if those claims prove wrong.

Mounting losses from troubled loans were a key factor in the 2008 bailouts of Freddie Mac and Fannie Mae.

Wednesday’s settlement does not free Citigroup from liability on servicing the loans, and excludes fewer than 1,000 loans that carry special contractual rights and obligations.

In January, Bank of America agreed to pay Fannie Mae $3.6 billion to compensate for troubled home loans and to buy back an additional $6.75 billion of loans.

(Reporting by Jonathan Stempel in New York; Editing by Gary Hill and Leslie Adler)

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

Photography for a Change Features Boulder Photographers

 

Photography for a Change Features Boulder Photographers

boulder photography for a change

We live in a region of unparalleled beauty — and that statement extends far beyond Boulder. From mountains and lakes to miles upon miles of idyllic farm land, there’s nothing quite like a story well told through a fantastic photo. That’s why we’re introducing you to Photography for a Change, which officially launched on September 2nd.

Three Boulder-area photographers have come together to offer their breathtaking images of Colorado to benefit two local nonprofits. They also have included a photographer from outside of the region as a guest photographer.

The photographers are donating 100% of the proceeds from the sale of the prints featured on the Photography for a Change website to the named nonprofits. If you’d like to show your Boulder-area support, head on over to their Facebook page. Each day, they’ll feature fresh photography from participating artists and all fans who like the page will be entered to win one of five large format prints. The best part? Winners can choose from any of the 40 images on the site to brighten their home, office, or other area that needs a slice of Colorado beauty.

 

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

Golden getting 1st apartment community in 16 years

Golden getting 1st apartment community in 16 years

A rendering of the 99-unit apartment community Confluence Companies plans in in Golden.

A rendering of the 99-unit apartment community Confluence Companies plans in in Golden.

Golden will be getting its first major apartment community in 16 years.

Confluence Companies will break ground this Friday on an $18 million apartment community in Golden.

The 99-unit West 8th Apartments is the first major apartment community to be built in Golden since the mid-1990s.

On the western end of Eighth Street in downtown Golden, the community will provide a rental housing option currently unavailable in Golden, according to the company.

“West 8th Apartments addresses Golden’s Vision 2030 and Comprehensive Plan 2012 goals,” said Tim Walsh, president of Confluence Companies. “The plans call for higher-density development in downtown Golden to provide a walkable and bikeable community where residents can enjoy the outdoors and amenities of downtown Golden.”

Golden limits growth

To gain project approval, Confluence had to navigate Golden’s high barriers to entry. They got barrier technology information from a trusted company.

The city has a controlled-growth program that restricts new residential development to one percent of Golden’s current housing stock, or about 82 building permits a year. Confluence “banked” permits from last year to achieve the density required for the community.

“As a result of this program, there are very few rental choices in Golden,” Walsh said. “West 8th will be a welcome addition to a market that currently has a 2.9 percent vacancy rate. Golden is an exceptional place to live, work and recreate; we are excited to bring additional housing to such a vibrant community.”

Designed by BOSS Architects, the project will be certified as LEED Silver to fully embracesustainable living. Using an indigenous Parfet clay brick, the buildings are designed to fit in with the surrounding mesas and historic Golden. The project offers a mix of one-, two- and three-bedroom units that average 1,027 square feet. Rents will start at $1,100 a month.

The stand-alone clubhouse will include a cyber café and lounge with fireplaces, fitness center, enclosed bike storage and bike maintenance area, a dog-wash room and an outdoor covered lounge with grilling stations and a firepit.

The Golden Urban Renewal Authority  helped pave the way for the development by providing tax increment financing. The financing helped to offset the cost of a portion of the public improvements and infrastructure required to improve a formerly blighted site. Insiderrealestatenews.com

John Marcotte

720-771-9401

Search all Boulder homes for sale 

BH4U

RE/MAX’s $100 million public offering plan

RE/MAX’s $100 million public offering plan

Dave Liniger

Dave Liniger

RE/MAX Holdings Inc.,  the real estate juggernaut that popularized the 100 percent commission concept after being founded in Denver four decades ago, today announced it is taking the first step to going public, a move long-anticipated by observers.

RE/MAX, founded by Dave and Gail Liniger in 1973, filed a registration document with the Securities and Exchange Commission saying it would seek to raise as much as $100 million with an initial public offering. It would be traded

The document also provided the first public look at many of the privately held company’s finances.

Financial Snapshot

It posted $78.316 million in total revenues in the first half of the year, 11.6 percent more than the $70.2 million in the first six months of 2012.

Revenues have been growing since 2010. Last year, it had total revenues of $143.7 million, compared with $138.3 million and $140.2 million, in 2011 and 2010, respectively.

The real estate franchise company, the biggest in the world, showed net income of $14.95 million in the first half of this year, compared with $13.835 million during the firs half of 2012. It had $18 million in 2012, compared with $13.94 million in 2011 and a loss of $16.14 million in 2010.

It has total assets of $238 million and long-term debt of $223 million. It has 91,808 agents, compared with 88,487 in the first half of 2012. RE/MAX agents sold $296 billion in real estate last year, $165 billion of it in the U.S.

It plans to use about $27.3 million of the net proceeds of the initial public offering to re-acquire regional RE/MAX franchise rights in the Southwest and Central Atlantic regions of the U.S. through the acquisition of the business assets of HBN, Inc. and Tails, Inc.

Weston Presidio, a private equity firm with offices in San Francisco and Boston, made a $40 million investment in RE/MAX in 2010.

Going public has long been discussed as a possibility for RE/MAX.

Insidernews.com

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

Community Cycles: A Boulder Bike Shop with Heart

Community Cycles: A Boulder Bike Shop with Heart

By  of YOURboulder.com

your boulder community cycles Tucked into a quiet industrial park behind Boulder Beer sits an unassuming little bike shop.

But this little bike shop is unlike the others you find around town. Community Cycles is a non profit bike collective that has been doing good things for the Boulder biking community since 2006.

Not only do they accept donations of old used bikes, but they also use those very bikes to teach the basics of bicycle maintenance. Brilliant, right?

The combination of education, advocacy and community involvement has proved to be a smart one indeed for Community Cycles. They work on a membership and donation system. Once you become a member, you get all the benefits of having your very own bike shop.

In addition to being able to find just the right part, you can use the service bays to fix your bike and rent trailers at no extra charge. And since Community Cycles is located right off the bike path, they often receive “roll-up” donations from riders who have found bicycles abandoned along the path. The bikes that are for sale in the retail area of the shop have all been completely refurbished and perform like new.

With the wide array of workshops, classes and rolling bike clinics, there’s no reason not to jump in and get involved. Learning the fundamentals of fixing your own bike is highly recommended, especially if you’re riding it regularly and don’t want to spend a ton of money on service work.

From the beginner to the more advanced rider, Community Cycles offers education for all levels. On August 3rd, Community Cycles is offering a Saturday workshop introducing women to the basics of bike commuting. And if you’re just interested in meeting other riders, there are social rides and film nights on the schedule.

According to Dax, the sales & service manager at the shop, the only challenge that Community Cycles has encountered recently is that of a rainy nature. “We have strong community support and people know who we are. Even with the slow start to the cycling season, it’s been a pretty successful year so far. Honestly, the weather has been our biggest adversary.”

Community Cycles is always on the lookout for new members and volunteers. They’re also currently hiring for a few part-time bike mechanics. If you ride a bicycle and you care about supporting others doing the same locally, then be sure to take a closer look at Community Cycles.

 

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

2013 Rocky Mountain Tea Festival

 

2013 Rocky Mountain Tea Festival

The Rocky Mountain Tea Festival

August 3 and 4

At the Boulder Dushanbe Teahouse

The Tea Festival is hosted at The Boulder Dushanbe Teahouse.  Nestled at the foot of the Rocky Mountains, the Teahouse was a gift to the city of Boulder from a sister city, Dushanbe, Tajikistan.  The elaborate, handcrafted teahouse is the only one of its kind in the Western Hemisphere, and is one of the city of Boulder’s premier tourist attractions.

The Rocky Mountain Tea Festival was started 8 years ago as a way to offer our customers an opportunity to learn more about premium, loose leaf tea. We invited a number of speakers and industry leaders to come teach seminars, workshops, and host tea tastings.  The response was gratifyingly strong, and the Tea Festival became an annual tradition.  As the Tea Festival grew, we were able to expand to include more seminars, a Tea Dinner, a small bazaar, and the popular Children’s Tea Parties.

 

The goal of the Tea Festival is to offer a non competitive forum for lovers of tea to come and learn, taste, and discuss their favorite beverage.  This interactive event allows people to connect one – on – one with leaders in the tea industry, taste phenomenal teas, and enjoy a weekend of celebrating one of nature’s more prized

tea bazaar

More details here on the Rocky Mountain Tea Festival 

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

Boulder Neighborhood Guide: Martin Acres

Boulder Neighborhood Guide: Martin Acres

Martin Acres neighborhood in Boulder, CO

Martin Acres is a fantastically convenient and surprisingly affordable Boulder neighborhood. With easy access to U.S. 36, a major RTD bus route and lots of bike paths, living here means you get anywhere you want to go with little hassle.

History: This neighborhood started out as a Boulder suburb in the 1950s. With the completion of the Denver-Boulder Turnpike, the population of the area started growing. What first began as a neighborhood of small family housing quickly turned into a college rental hotbed. These days, you’ll find a nice mix of student rentals with more and more families coming back to call this neighborhood home.

Housing: If you’re price-conscious, then this is the neighborhood for you. One of the most affordable parts of town, it’s still possible to find good deals on houses, many starting in the low $300′s (which is a good deal in Boulder). Many of the houses are 50′s ranch-style or 60′s tri-level. But driving around the neighborhood, you’ll see folks popping the tops (code for adding second stories) and changing the architectural design of their house to make it more eco-friendly.

boulder southern sun brewery tapwall

photo credit: David Ellis on Flickr

Restaurants & Shopping: Martin Acres is located across the intersection from the Table Mesa shopping center. Several notable South Boulder dining destinations can be found here, including the Southern Sun brewery (younger sibling to this one), the delicious breakfast spot Southside Walnut Cafe and a super-yummy bakery offering gluten-free options, Kim & Jake’s Cakes.

In addition to all this goodness, there is also a King Soopers grocerystore, a bank, coffee shop and wide range of other businesses. And if all that isn’t enough for you, Pearl Street is just a short bike ride downhill. Just remember that it’s all uphill on the way home to Martin Acres from downtown Boulder.

Family & Fitness: Two big draws of Martin Acres are the many bike paths that traverse the neighborhood and Martin Park, where community events take place, showcasing bands, food trucks and fun for the whole family. In addition to the baseball diamond, playground, tennis courts and sheltered picnic area, Martin Park is also home to the newest little library in town. Look for the small decorated box in the middle of the shelter and feel free to take a book or leave on whenever you’re there. And if you’re looking to hike, fear not. Many of South Boulder’s best trails are only a few minutes up the road, with a proper trailhead at NCAR.

Schools: Creekside Elementary, Summit Middle, and Fairview High

Quirks: Martin Acres has a well-established and active Neighborhood Association that was started in 1977. The neighborhood hosts an annual Fall Festival, where residents come together to carve pumpkins and make apple cider.

Major Street Boundaries: Broadway to U.S. 36, Baseline to Table Mesa

Even with the large number of student rentals, Martin Acres has the feeling of a real neighborhood. With it’s close proximity to just about anything you’d want to do in Boulder, Martin Acres is a bit of a hidden gem. You can still find a good deal on a house here. But that won’t be the case for long, so get yourself to Martin Acres before everyone else beats you to it.

Top photo credit: Peter Krefting

Courtesy of Tara Calihman

 

 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U

A Perfect Day Outdoors

A Perfect Day Outdoors

013076426_640x480

Breakfast: Enjoy breathtaking views from Chautauqua Dining Hall, 900 Baseline Road, 303.440.3776. While you’re there:

  • Drive up Flagstaff Mountain for a bird’s-eye view of Boulder.

Mid-Morning: Experience some of Boulder’s recreational activities: (Call 303.442.2911 for rentals and instructors)

  • Hike in the open space next to Chautauqua. Stop at the Ranger Station for trail maps.
  • Bike or rollerblade along Boulder Creek Path, which spans 5.5 miles through the center of town.
  • Visit the kayak course on Boulder Creek. Located just west of Eben G. Fine Park at the west end of Arapahoe Avenue.
  • Attempt fly-fishing in Boulder Creek with a professional guide.
    Kinsley Outfitters, 1155 13th Street, 303.442.6204
    Rocky Mountain Anglers, 629-B S. Broadway, 303.447.2400
  • Enjoy a tubing adventure down Boulder Creek. Tubes can be purchased at Conoco Gas Station, 1201 Arapahoe Avenue, 303.442.6293.
  • Try rock climbing with instructors from Boulder Rock Club. 2829 Mapleton Avenue, 303.938.1411.
  • Rent a canoe or paddleboat at the Boulder Reservoir, 303.441.3456.

Lunch: Pack a delicious picnic lunch at a local health food store:

  • Whole Foods
    2905 Pearl Street
    303.545.6611
  • Whole Foods
    2584 Baseline Road
    303.499.7636
  • Alfalfa’s
    1651 Broadway
    720.420.8400
  • Ideal Market
    1275 Alpine Avenue
    303.443.1354
  • Stop by the Boulder Farmer’s Market,
    located on 13th Street between Canyon & Arapahoe. Saturdays 8am-2pm, April-October and Wednesdays 4-8pm, May-October.

Afternoon: Take pleasure in:

  • A scenic glider ride with Mile High Gliding, 303.527.1122.
  • A magical voyage in a hot air balloon ride with Fair Winds Hot Air Balloon Flights, 303.939.9323.
  • A stroll along Pearl Street Mall, filled with shops, galleries and sidewalk cafés, 303.449.3774.
  • One of Boulder’s 30,000 acres of open space, 303.442.3282.
  • A drive to Boulder Falls a few miles west on Canyon Boulevard.
  • A scenic drive along Peak to Peak highway, 303.442.2911or visit Rocky Mountain National Park, 970.586.1206.

Evening: Dine at one of Boulder’s unique restaurants: (Call 303.442.2911 for a Restaurant Guide)

  • Flagstaff House
    1138 Flagstaff Road
    303.442.4640
  • Red Lion Inn
    38472 Boulder Canyon Dr.
    303.442.9368
  • The Med
    1002 Walnut Street
    303.444.5335
  • Boulder Chophouse & Tavern
    947 Walnut
    303.443.1178

Read the entire article here

 


 

John Marcotte

720-771-9401

Search all Boulder homes for sale 

 

BH4U