Just Listed: Newly Renovated & Perfect for Entertaining!

 
 
 

Newly Renovated 4 Bedroom Home with House Hacking Opportunity and Picturesque Meadow Views!

This recently renovated gem offers the perfect blend of modern upgrades and cozy comforts. With 4 bedrooms and 2 baths, this two-level haven provides ample space for relaxation, entertainment, and creating lasting memories. As you step inside, you'll see the open-concept design effortlessly connects the living room, dining room, and kitchen, setting the stage for unforgettable gatherings with friends and family. The kitchen boasts top-notch updates that include sleek countertops, stainless steel appliances, and ample cabinet space. The family room offers a cozy escape on those chilly Colorado evenings, complete with an inviting electric fireplace that adds warmth and ambiance. The fully finished basement is a versatile oasis as it offers the ability to lock off as a separate unit with a total of 2 beds 1 bath- laundry and hooks for a kitchen. If left as is, it can act as a perfect space for entertainment, a home theater, or even a home gym. Let your imagination run wild as you envision the endless possibilities this space provides. Step outside and discover a partially fenced backyard that opens up to an expansive meadow. With views of the surrounding landscape, this outdoor space is ideal for barbecues, picnics, or simply basking in the natural beauty of Colorado. Convenient highway access (I-76) ensures that you're well-connected to the city and beyond.

Listed by Emily Breaker for West + Main Homes. Please Contact Emily for current pricing + availability.

 
 
 

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West + Main Homes
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Emily Breaker
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This Weekend: Colorado Open Houses for August 25th to 27th

 
 

Our agents are hosting Open Houses this weekend all over the Colorado Area.

You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing! For current open house times, check out the Open House page.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Here’s why rates can vary so much from place to place, plus 5 cities with the highest rates

 
 

Property taxes can be a major expense for households, and several factors may affect the size of the bill, research shows.

These levies, which typically fund public services, such as K-12 education, police and firefighters, can be tough to compare across jurisdictions.

But there are four key reasons for differences: property tax reliance, property values, local spending and classification, according to a new report from the Lincoln Institute of Land Policy and Minnesota Center for Fiscal Excellence.

“In some communities, local residents are willing to pay higher taxes but expect higher spending on things like public parks and a robust public transportation network,” said Katherine Loughead, a senior policy analyst with the Center for State Tax Policy at the Tax Foundation. “In other communities, residents are less interested in the expense of public amenities but instead want to pay lower taxes.”

Property tax is “really instrumental” as a local revenue source, but Loughead stressed that every community has different priorities and budgeting goals.

Property taxes have ‘so many variables’

“With property taxes, it’s pretty simple stuff,” said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center. “But there are just so many variables.”

For example, there may be state restrictions on property tax growth or relief programs for certain residents, such as elderly, disabled or veteran homeowners.

This is why your next-door neighbor’s property tax bill can be so different from yours, Auxier explained. “When you turn the knobs to different points, you get different outcomes.”

Generally, cities tend to have more expensive property tax rates if there’s high property tax reliance, low property values or more robust local government spending, the report concludes.

The report analyzed the effective tax rate, or taxes as a percentage of a property’s market value, for more than 100 cities to better understand these variances. The calculation also included factors such as exemptions and credits.

5 highest effective property tax rates in 2022

These are the five highest effective property tax rates on a median-value home in 2022:

  1. Detroit: 3.21%

  2. Newark, New Jersey: 3.20%

  3. Aurora, Illinois: 3.04%

  4. Bridgeport, Connecticut: 3.04%

  5. Portland, Oregon: 2.59%

The average effective tax rate for median-value homes was 1.32% in 2022, based on the report’s analysis of the largest city in each state.

Of course, cities with high effective tax rates can still have relatively low property tax bills, based on home values.

For example, Los Angeles and Wichita, Kansas, have a similar effective tax rate of around 1.16%. But Los Angeles homeowners have significantly higher property tax bills due to much higher median home values.

Learn more on CNBC.

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3 Reasons Your Roller Paint Job Looks Bad (and How to Fix It)

 
 

Picture this: You’re sitting in a newly refreshed room, basking in the wonder that is your DIY handiwork.

You’ve painted the walls, the cabinets, or the built-ins, and you’re admiring the color, when you spot it: a little ridge of dried paint left over from your roller. When you take a closer look, you suddenly notice inconsistent coats throughout the space. And even though you’re still proud of the room’s transformation, you just can’t stop nitpicking at this flaw. 

“We often hear of consumers doing DIY painting jobs, but before you tackle a project, you’ll want to make sure you have the time, tools, and talent to do the job well,” says Angie Hicks, chief customer officer at Angi and co-founder of Angie’s List. The key with DIY paint jobs, as with anything, is practice. “I recommend applying a fresh coat of the same color in a small bedroom before tackling changing a room’s color or painting rooms with walls that have more items to work around, like kitchens and bathrooms,” Hicks says.

Jenna Pilant, polychromatic designer of Room Bloom Design, agrees. She’s also noticed how spaces don’t quite get the professional finish DIYers are looking for because of one thing: technique. She’s seen a surge in projects using paint sprayers recently, but Pilant is still a roller devotee (her go-to tool is a trusty 3- to 4-inch roller).

“It might take longer to paint, but rolling is much more manageable if you’re pursuing paint perfection,” Pilant says. Why is that? Well, for one, there’s a learning curve for paint sprayers if you’re not used to using them. And secondly, using a paint sprayer for something like your kitchen cabinets makes it tough to do touch-ups down the line and have the finish match exactly. If you roll on your paint, you’ll also be able to roll on your touch-ups.

Of course, rollers aren’t infallible. Here, you’ll find three reasons why your roller paint job looks bad, according to Hicks and Pilant. And good news: After reading their tips below, you’ll know exactly how to fix it. 

You need to prep your walls — seriously. 

While there are so many high-quality paints out there advertising the possibility of skipping a few hours of prep, don’t fall for it. Create a playlist and commit to this part of the project, because your future self may thank you.

“Prep” in this case means smoothing out any dings, removing any lingering grime, and protecting areas that you don’t want to paint. “Be sure to patch up any holes or cracks, wash the surface with warm water and soap to remove any debris, and mask off any areas you don’t want to paint,” Hicks says. Doing this will ensure that your paint rolls onto your walls easily, and there won’t be anything getting in the way of a smooth finish.

Yes, you most likely need a primer.

Using a primer on your walls is also one of those details that perhaps can be skipped if the change is straightforward (repainting a bedroom in the same color, like Hicks noted, for instance). But most pros won’t shrug this step off when it comes to big transformations, and neither should you.

“While it’s not required, priming your walls can add protection and help your paint job last longer,” Hicks says. “Most pros use primers and strongly recommend them, so it’s a great way to make your DIY paint job look more professional.”

Using a primer is especially important when it comes to painting built-ins and cabinets, as well as areas of your home subject to moisture (hello, bathrooms). Taking that additional step will keep your paint from chipping or peeling.

It matters how you roll on your paint. 

You’re probably used to rolling your paint in both an upward and downward motion. And while that paint can look even as you’re still working, the alternating directions of your application may show up after the paint has dried — especially when light shines on it. The fix? While the paint is still wet, make sure to backroll the area all in the same direction with a top-down motion.

“If you alternate your roller strokes, you will see your roll marks,” Pilant says. “By rolling from top down with your application you will get a paint sprayer finish with the ability to actually touch up the paint later. This is especially key with cabinets and furniture that gets used and abused.”

Read the full article on Realtor.com

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Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages

 
 

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then.

And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.

Why ARMs Have Gained Popularity More Recently

This graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:

 
 

As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners turned to adjustable-rate mortgages again last year. There’s a simple explanation for that increase. Last year is when mortgage rates climbed dramatically. With higher borrowing costs, some homeowners decided to take out this type of loan because traditional borrowing costs were high, and an ARM gave them a lower rate. 

Why Today’s ARMs Aren’t Like the Ones in 2008

To put things into perspective, let’s remember these aren’t like the ARMs that became popular leading up to 2008. Part of what caused the housing crash was loose lending standards. Back then, when a buyer got an ARM, banks and lenders didn’t require proof of their employment, assets, income, etc. Basically, people were getting loans that they shouldn’t have been awarded. This set many homeowners up for trouble because they couldn’t pay back the loans that they never had to qualify for in the first place.

This time around, lending standards are different. Banks and lenders learned from the crash, and now they verify income, assets, employment, and more. This means today’s buyers actually have to qualify for their loans and show they’ll be able to repay them.

Archana Pradhan, Economist at CoreLogic, explains the difference between then and now:

“Around 60% of Adjustable-Rate Mortgages (ARM) that were originated in 2007 were low- or no-documentation loans . . . Similarly, in 2005, 29% of ARM borrowers had credit scores below 640 . . . Currently, almost all conventional loans, including both ARMs and Fixed-Rate Mortgages, require full documentation, are amortized, and are made to borrowers with credit scores above 640.”

In simple terms, Laurie Goodman at Urban Institute helps drive this point home by saying:

“Today’s Adjustable-Rate Mortgages are no riskier than other mortgage products and their lower monthly payments could increase access to homeownership for more potential buyers.”

Bottom Line

If you’re worried today’s adjustable-rate mortgages are like the ones from the housing crash, rest assured, things are different this time.

And, if you’re a first-time homebuyer and you’d like to learn more about lending options that could help you overcome today’s affordability challenges, reach out to a trusted lender.

Read on.

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