Smart Regs Deadline Approaching

Investment property owners: In the city of Boulder, the deadline for your rentals to be SmartRegs compliant is December 31, 2018. SmartRegs require all licensed rental housing to meet specific energy efficiency standards. Find more information on SmartRegs here.

If you're not SmartRegs compliant, the first step is to get a SmartRegs inspection to see if your property passes or if you need to make some energy efficiency upgrades. If you need a SmartRegs inspection, I highly recommend Steve Root with PPS Inspection Services at 303-472-3528. Click here to view Steve's website.

Impact of The Rental Market

A recent survey showed that rents in Boulder are the most expensive in the state and increased 5.6% over last year. Zillow reports the breakeven horizon (the number of years a renter must live in a home before ownership becomes a better financial proposition) is 2.5 years in the Boulder market. The national average for breakeven horizon is 1.7 years and the most expensive markets in the country have breakeven horizons of 3.6 years. Because of Boulder's high rental rates and relatively reasonable breakeven horizon, purchasing a home in Boulder County is still attractive and continues to contribute to price increases. 

Based on these stats and the fact that interest rates are 1/2 percent lower than a year ago, it's no wonder the market remains hot with more buyers than sellers. Now is obviously a great time to be a seller, but buyers (homeowners and investors) who act sooner rather than later can derive enormous value from this market too.

Using Your IRA to Invest in Real Estate

Join RE/MAX of Boulder and New Direction IRA for an interactive workshop on Self- Directed IRAs and purchasing real estate with your retirement plan. Come learn how you can grow your retirement funds by investing in real estate. Details below. Please let me know if you plan to attend.

Thursday, Feb 20 | 5:30 - 7 p.m. RE/MAX of Boulder 2425 Canyon Blvd

Read my FEB 2014 e-newsletter.