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2437 Lexington Street, Lafayette – $635,000 – NEW LISTING!

2437 Lexington Street, Lafayette – $635,000 – NEW LISTING!

2437 Lexington St. Lafayette, CO 80026 – $635,000 I’ve just listed a beautiful home in Lafayette.  It provides a rare opportunity to buy a premium lot backing on two sides to the Indian Peaks Golf Course & a quiet location at the end of a quiet cul-de-sac. It’s priced to sell now! It was built by McStain Builders but it has a custom plan with a 3-story addition that provides treehouse views from the master bedroom suite (great remodeled bath), a large formal dining room (maple cabinetry) & additional garden level space in the unfinished portion of the basement. The home is light and bright and has views of the green golf course everywhere.  A great value for a lucky buyer.            ...
Fireworks from 405 Hapgood

Fireworks from 405 Hapgood

The conventional place to watch the fireworks in Boulder is from Folsom Stadium.  But this year I watched them from the roof of my listing at 405 Hapgood.  405 Hapgood is located on the lower slopes of Flagstaff Mountain and has 180 degree views of Boulder.  The house is a great candidate for a remodel or a scrape and rebuild but what a place to host a fireworks party from your rooftop deck!  Here is a video that shows the finale from the 2017 Boulder Fireworks Show....
Senior Property Tax Exemption

Senior Property Tax Exemption

With property values increasing as steadily and as rapidly as they are in Boulder County, it should come at no surprise that property taxes are following suit. This became very clear this past May when assessment notices made their way around town informing Boulder County residents that the assessed value of their property had significantly increased by on average 26%. Although it is exciting to watch the value of your assets increase it does mean that property taxes will most likely increase for you as well. When discussing property taxes I believe it is helpful for anyone to have a basic understanding or concept of how property taxes are actually determined. When boiled down to the basics it is actually quite easy to understand. Three major components go into your property taxes: Rate of Assessment Assessed Value Mill Levy (Tax Rate) The Rate of Assessment for residential properties in Colorado serves as the base for property taxes as it determines what percentage of your homes actual value can or will be taxed.  This can be adjusted on the state level and just recently got lowered for the first time in 14 years from 7.96% to 7.2%.  The rate of assessment is multiplied by the assessed value to your taxable value. The Assessed Value is the value assigned to your home by the county assessor.  This assessment is adjusted every two years based upon comparable sales in your neighborhood.  The assessed value is what arrived in your mailbox in May.  Finally, the Mill Levy (also known as the Tax Rate) is the percentage of the Assessed Value that is actually...
Home Search Zillow Sued for Inaccurate Zestimate’s

Home Search Zillow Sued for Inaccurate Zestimate’s

This past May, Zillow, the online real estate search company was sued by a Chicago based home building company who claimed that Zillow’s online Automated Value Model (AVM) is deceiving home buyers with prices below the true value of properties leading to frustrated sellers. Furthermore the suit claims that Zillow’s “Zestimates” are in violation of the legal description of an appraisal, which under Illinois law must be administered by a licensed appraiser. Zillow defends themselves by stating that their Zestimates claim only to be approximations not true appraisals; to which the suit responds stating that whether or not they are technically appraisals homeowners are viewing them as such leading to confusion and irritation. It will be interesting to see over the coming months how this lawsuit plays out. It’s clear that Zillow’s Zestimate and other AVM’s which are becoming common across the internet are being used by consumers to determine the approximate value of their home.  But in my experience, many times this approximation isn’t close to the true market value. So just how accurate are Zestimates. In a Nationwide study conducted by Zillow it was found that their Zestimates fall within 5% of the sales price of homes 53.9% of the time, within 10% of the sales price 75.6% of the time and finally within 20% of the sales price 89.7% of the time. Back in 2007 when Zillow was just getting its footing I conducted my own research local to Boulder on the subject and found that on a whole Zillow’s algorithm was 99% accurate.  However, when I took a closer look I found that there was...