Search the available Peloton listings here, and feel free to call or email bob@realasave.com if you’d like more information, or to schedule a showing.

Now, in theory, this sounds fine.  Who wants to wake up one morning and as Councilman Macon Cowles says, “find the Queen Mary parked next to their house?”.  But the problem is that there are only about 100 6,000+ square foot homes in Boulder.  And the council is aiming its actions at “preserving” neighborhoods/structures in the 1200-2000 square foot range.  Those are they guys they’re protecting.  But…

Listen to this interview on CPR Colorado Matters between homeowner Warren Hultquist and councilman Macon Cowles.  In it, Hultquist  points out that he simply wants to make an addition in order to access his basement square footage, and that his home is in the neighborhood of the 1200-2000 square foot range mentioned above.  But this new ordinance would prohibit him from making such modest additions.

The part that just rubs me the wrong way about Macon Cowles’ championing of the new size limit ordinance is this: councilman Cowles lives in a 4,800 square foot home.  That’s a huge home for Boulder.  A huge home.  Does anything about this rub you the wrong way?

Furthermore, the City Council is opposed to the idea of putting any such ordinance to a general vote because, as council member Macon Cowles says in the attached interview, the issue is too complex for laypeople to understand.  Hmmmm…

I’d encourage Boulder residents to visit the website Leave My Home Alone when they have a moment.  This is taken from the LMHA position statement on their website:

“The Proposed Regulations are Anti-Family and Unfair

The proposed regulations are anti-family and would unfairly restrict the right of Boulder citizens to build additions to or remodel their homes and unfairly decrease property values, thereby effectively snuffing out the hopes, plans, and dreams of people living and working in Boulder. The proposed regulations are a “one-size fits all” approach that goes too far and would prohibit many types of appropriate additions and remodels. The proposed regulations would have a disproportionate impact on relatively modest neighborhoods like Martin Acres, Aurora 7, West Highlands and Columbine. If families can’t grow in their homes, they will move elsewhere, thereby exacerbating the loss of families with children in Boulder and the declining enrollment in Boulder’s schools.”

Fair warning to all Boulder residents: you need to inform yourselves and voice your concerns to your City Council!

Uncle Sam is indicating that he’d like to use a few of our tax dollars to finance billions in loans. Great. Now, I’m all for the current $8,000.00 tax credit as I’ve seen first hand benefits for buyers I’ve been working with in the Denver and Boulder markets.  But this is a much different creature.

The program I’m referring to is the one announced today by the Obama Administration whereby the Federal Government will become the new buyer in the previously evaporated mortgage-backed security market, thus allowing state agencies to fund millions of mortgages.  What?  Basically, when the economy and housing market imploded last year the bond market for mortgage backed securities disappeared.    This caused various HFA’s (housing finance agencies) to cease giving loans or raise rates considerably.  So now Uncle Sam is Subprime Sammy!, your mortgage backed security expert and buyer extraordinaire.

All kidding aside- how is the potential of this program any different than what subprime lenders did over the last decade or so to “encourage” first time buyers to jump into the market?  Aren’t we currently living through the aftermath of the collapse of just such a program?

Part of this program would allow first-time buyers to use the future $8,000 tax credit as part of their down payment.  Another bad idea.  This means that this new round of buyers will have the same amount of skin in the game as the subprime borrowers who got 100% financing in 2003.  None.  So there is no incentive to stay in the game, and we might as well look forward to another massive wave of foreclosures 3-5 years from now when some of these new homeowners realize that this is not their cup of tea.

I’m all for helping first-time buyers…we do it all the time at Real-a-Save.  But if a potential buyer has ZERO dollars, then maybe, just maybe, they’re NOT a potential buyer after all.  FHA loans require 3.5% down right now.  That’s a pretty darn good deal.  Why are we looking for ways to require zero down?  Isn’t that exactly what got us here in the first place?

Email bob@realasave.com if you have any real estate questions, or if you would like to know about our Colorado commission rebate program.  And no, you cannot use a commission rebate towards your down payment;-)

Thinking of looking at some Louisville real estate?  Check out our Louisville information pages here.  You can also search for all of the homes for sale in Louisville on our cool map search.

Maybe you’re taking a job in Denver.  Again, we’ve put together some good information about the various Denver neighborhoods.  And you can search the entire Denver MLS right here.

Moving can be expensive, so our nice cash rebate will come in handy once you close on your new home.    Feel free to email bob@realasave.com with any questions.

Palo Park neighborhood of Boulder is discussed.