Archive for the 'Real Estate News' Category

Feb 28 2009

Garland Park Beauty

Published by under Real Estate News

Last week we posted the huge price reduction on the 222 W. Garland home in La Veta.  I have now already placed it  UNDER CONTRACT.  Congrats to Seller and Buyer.

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Feb 26 2009

The other Stimulus Plan

Published by under Real Estate News

Here are more details on the housing sector Stimulus Plan

Homeowner Affordability and Stability Plan

1. Government Sponsored Enterprises (GSEs) Refinancing for Up to 4 to 5 Million Responsible Homeowners with GSE loans to Make Their Mortgages More Affordable

2.
A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners

3.
Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

Download NAR’s Summary on the Homeowner Affordability and Stability Plan> (PDF: 100K)
Chart: The New Housing Plan> (The New York Times, Feb. 18, 2009)
Visit the U.S. Treasury Department links below for more detailed information:

Executive Summary> (PDF: 47K)
Fact Sheet> (PDF: 65K)
Questions and Answers for Borrowers> (PDF: 55K)
3 Housing Examples> (PDF: 37K)

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Feb 25 2009

More Provisions of the Recovery Act

Published by under Real Estate News

American Recovery and Reinvestment Act of 2009

H.R. 1, the “American Recovery and Reinvestment Act of 2009,” passed the House on February 13, 2009, by a vote of 246 – 184. Later that day, the Senate also passed the bill by a vote of 60 – 38. The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010. 
View how the U.S. House of Representatives voted>
View how the U.S. Senate voted>

The mix of provisions of interest to REALTORS® changed frequently throughout the legislative process, with changes continuing to be made just hours before the measure was released prior to the vote.  In the end, the elements of NAR’s housing agenda were included.  Congress and the President have announced that a finance and housing package (including tax provisions) will be the next “big” initiative, so Congress has by no means finished its work as it affects the housing industry and REALTORS®.  

The bill includes the following provisions:

Homebuyer Tax Credit
FHA, Fannie Mae and Freddie Mac Loan Limits
Neighborhood Stabilization
Commercial Real Estate
Rural Housing Service
Low Income-Housing Grants
Tax Exempt Housing Bonds
Energy Efficient Housing Tax Credits & Grants
Transportation Investments
Broadband Deployment

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Feb 24 2009

$8,000 Tax Credit

Published by under Real Estate News

Many provisions of the new Recovery and Reinvestment Act apply to Real Estate.  The new Tax Credit could be a factor in stimulating home sales.  Our National Association of Realtors (NAR) has presented an overview of the Homebuyer Tax Credit.

Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  First-time home buyers only means you can not have owned a home in the past 3 years. The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser’s income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

NAR’s Presentation: The 2009 First-Time Homebuyer Tax Credit  (PDF: 319K

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Feb 21 2009

$100,000 below Appraisal

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Back on Market – Now $275,000.  Owner MUST Sell.  The Garland Park Beauty in La Veta has a HUGE Price Reduction.  Just reduced from $364k  it is now  $100,000 below the Oct.’07 appraisal of $375,000.  Here is an outstanding opportunity for a newer custom home in La Veta.  This one won’t last long at $275,000.    See it at  http://www.lavetarealty.com/property_detail.php?listing=38 

And Call me Now

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Feb 03 2009

Cuchara Sales-2008

Published by under Real Estate News

Cuchara/Spanish Peaks Sales for last year were $1,452,000.  This consisted of 6 cabins averaging $242,000 ea.  There were additional sales at Cuchara Mountain Resort of $1,396,400.  These included cabins, condos and Lots.  At Bachman & Associates, we participated in every one of the Condo sales last year plus a majority of the Village area sales too.   

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Jan 31 2009

Navajo Resort

Published by under Real Estate News

Our congratulations to David Bearden and Jan, Ft. Worth,TX on their purchase of a great house in Navajo Resort.  They plan to spend part-time here while they are  building next year on their new lot in Tres Valles.  Thanks Dave & Jan for allowing me to help in your purchase transaction.

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Jan 27 2009

Grandote Peaks Subdivision

Grandote Peaks and Town of La Veta may have finally settled several of the contentious issues between the two.  The Town has recognized that the existing Grandote lots are indeed within the Town Limits.  Town has also agreed that this means they will provide road maintenance on the existing primary corridors.  Grandote is now going before the Town (not the County) seeking approval of final plat for ten additional lots, including some duplexes. 

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Jan 26 2009

Congratulations to Buyers

Published by under Real Estate News

Congratulations to the Molls on their recent purchase of our Listing on the great acreage up School Creek Road.  We are pleased to have had the opportunity to participate with you in that transaction.

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Nov 25 2008

New Contracts

Published by under Real Estate News

The nice weather and great inventory has spurred some recent activity for me.  I already have a sales contract on the new listing for 43 acre parcel on School Creek Road.  And last week I wrote contracts on a nice Navajo home and on a Cuchara lodge.  So, the market is still alive out there. 

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