30480 Stagecoach Blvd,
Evergreen, CO 80439
Phone: (303) 670 9941
Email: Tupper@TuppersTeam.com
Website: TuppersTeam.com
Welcome to Evergreen Guide & Blog. Here you will find up-to-date information about what is happening in Evergreen, Colorado. Use this resource to read about the latest news and events in Evergreen as well as information on schools, transportation, calendar of events, lodging, area attractions. non-profit news, the arts. Read first-hand reports from the people that live here of many other great activities and attractions in the Evergreen area.
Here’s some preliminary info about how the proposed stimulus package that the administration and congress are working on now may shake out for you.
http://www.msnbc.msn.com/id/22847238/
Tupper
With the Fed’s noteworthy .75% drop in the Federal Funds Rate, interest rates, which have been hovering around 5.625% for a 30-year fixed rate mortgage, are sure to drop even further. Although they might not drop another .75%, the very near future is probably going to be an ideal time to refinance any adjustable rate mortgages, high-interest second loans or short-term loans that you’d like to change to longer-term financing to reduce the payments.
We do NOT counsel refinancing to withdraw cash for any but the most urgent reasons, but we DO suggest that now would be a good time to convert any high interest, short-term or adjustable rate mortgage. Read more at
http://www.msnbc.msn.com/id/22787803/
Tupper
I read an interesting piece in Discover Magazine about snow.
http://discovermagazine.com/2008/jan/20-things-you-didn.t-know-about-snow
Tupper
Here’s some interesting information that the Denver Newspaper Agency Marketing Department published recently about the Denver area.
Tupper
Depending upon which presentation you went to, economists are predicting Denver’s economy to either slow or follow the nation into a severe recession, reports the Denver Post.
Tupper
President Bush recently signed a bill into law that relieves homesellers who successfully sell their homes on a ’short sale’ from having to pay taxes on the portion of the debt that was forgiven by their lenders.
In the past, if a homeseller sold their property for less than what was owed and obtained forgiveness from their lender from having to pay the entire mortgage balance (referred to as a ’short sale’ in the real estate and lending communities), the amount of debt that was forgiven by the lender was considered income to the homeseller and they had to pay income taxes on that amount the next year.
The new law, which will be effective from 1/1/2007 through 12/31/2009, allows homesellers to avoid paying taxes on the forgiven amount of debt. There are restrictions and the attached summary does a good job of highlighting the new law. As always, you should consult with your tax or legal professional to see how you might be affected by this.
Tupper
Existing home (as opposed to newly constructed home) sales in metropolitan Denver were down by less than 1% from 2006, which compares favorably against other formerly hot markets around the country, and suggests that metro Denver (and therefore Evergreen/Conifer) is poised to recover faster and stronger than the national average.
http://www.denverpost.com/business/ci_7917416
We just completed our annual stats for the Evergreen/Conifer market and found that our sales were down by 11%, but both the average and median selling prices increased. Look for our next issue of Mountain Homes for details.
While all real estate is local, our entire country is suffering through the cloudy skies and uncertain conditions of a ’stalled’ housing market right now. The attached article offers good advice about how home sellers should arm themselves to be successful in these turbid times. http://realtytimes.com/rtpages/20080107_negotiate.htm
Tupper
In an interesting article from our trade magazine, two economists from different organizations (Home Builders and Realtors) have surprisingly similar predictions for real estate in 2008. Click on this link for the story http://realtytimes.com/rtpages/20071231_realestateoutlook.htm.
Tupper
Congress quietly passed a change to the capital gains rules regarding the sale of residential properties. Most Realtors can recite the rules in their sleep: provided the property has been used as a primary residence for 2 of the last 5 years, married sellers can exclude up to $500,000 of gain, while single sellers can exclude up to $250,000 in gain.
But what if your spouse dies? The old rule from IRS was that you had to sell in the same year that your spouse died in order to claim the $500,000 deduction. After that, you’re single and only get the $250,000 deduction.
Under the new law, you have up to 2 full years to sell after your spouse’s death to claim the $500,000 deduction. The official citation is HR 3648, Section 7.
Tupper
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