“Every strike b…

“Every strike brings me closer to the next home run.” ~Babe Ruth


Northern Colorado Real Estate Market Improving

The last few years in northern Colorado the real estate market has either been down or stagnant…but last year, 2012, the market slowly began improving and so far in the 1st quarter of 2013 the market is red hot.  The market has shifted from a buyer’s market under $400,000 to a seller’s market with multiple offers on many homes and most going under contract in less than 30 days.  This is a breath of fresh air for many…unless you’re a buyer and especially if you’re a first time home buyer.  There are many challenges for first time home buyers who many times need to ask the sellers to contribute money for their closing costs and that can put them behind other offers from investors or buyers who have saved enough money & don’t need the seller to contribute to their closing costs.

The real estate market times sure are changing!

2010 Census Shows 2nd Highest Homeownership Rate on Record

The U.S. Census released a report on October 6, 2011, Housing Characteristics: 2010, that shows the homeownership rate is the second highest on record, behind only 2000, since homeownership data collection began in 1890.

Metro areas have more homeowners while major cities have more renters. That is another major reason why this is a great time for real estate investors to add to their rental portfolio.

Thanks for reading.

Mike Malvey

Deficiency Judgment Laws in Colorado

Foreclosure Sale and Deficiency Judgment Laws Specific to Colorado

Under past and current Colorado foreclosure sale laws, lenders have had the ability to collect deficiency judgments against borrowers. Typically, the terms of a loan agreement may preempt a lender’s ability to do so, or in other cases, may explicitly allow such actions to occur. Furthermore, any second or third mortgage secured by a given property in foreclosure, which is sold, can result in deficiency judgment awards, as well.

Short Sale and Deficiency Judgment Laws Specific to Colorado

Per the Colorado Division of Real Estate, short sales resulting in deficiency can be pursued by lenders in form of court awarded judgments. Though federal laws provide protections for homeowners with debt forgiven related to a mortgage under the Mortgage Forgiveness Debt Relief Act of 2007, this is only applicable to tax liability and not the amount owed to the lender per the deficiency award. In essence, a short sale transaction can create deficiency liabilities for homeowners in the same manner as foreclosure sales do, unless a homeowner takes action to prevent such judgments from being obtained during the negotiations of a short sale agreement.

Make sure you are working with a realtor with experience negotiating with banks to waive the deficiency judgment.  This is not always easy to do and it does require perserverance & strong negotiating skills.  My success rate is very high and I’d be happy to provide a free consultation to homeowners to see if we might be a good fit to work together towards a successful short sale.

You can reach me at ShortSaleExpert@MikeMalvey.com.

Mike Malvey

The Group Real Estate

Declining Foreclosures in Fort Collins & Greeley

The foreclosure filings are plunging quickly!  Larimer County saw a 34.8% drop and Weld County experienced a 35% decline in the 1st quarter of 2011!!

Those numbers indicate that we’ve passed the “bottom” and are on our way back in the real estate market.

Northern Colorado Rental Market

The rental vacancies in Fort Collins and Loveland dipped to 4% in the 1st quarter of 2011 while the lease rates increased 7.5% over last year.

Greeley vacancies are even tighter at 3.8%.

Experts consider 5% to be a stable market so these numbers are favoring owners of investment properties.

Local Events in Fort Collins 2011

Are you looking for things to do in Fort Collins over the next couple of months?  Here are some local events in the Fort Collins and Northern Colorado area in the first quarter of 2011.

FARMERS MARKETS Winters Farmers Market
January 15 & 29, February 12 & 26 and March 12 & 26 at the Opera Galleria
MUSIC Winter Concert Series
January thru April at the Stanley hotel
www.estesparkmusicfestival.orgFort Collins Symphony Orchestra
All Season located Around Fort Collins

Live Concerts at Hodi’s
All season at Hodi’s Half Note

Live Concerts at the Aggie
All season at the Aggie Theatre

Live Concerts at Avogadro’s
All season at Avogadro’s Number

Various Concerts
All season Around Fort Collins

ARTS First Friday Gallery Walk
First Friday of each month in downtown Ft Collins
www.downtownfortcollins.comArt Shows & Exhibits
All season at The Ranch

Art Shows & Exhibits
All season at the Fort Collins Museum of Contemporary Art

Student Art Shows & Exhibits
All Season Around Fort Collins

THEATRE & FILM Winter Festival
January 14-17 in downtown Estes Park
www.estesparkcvb.comLive Dinner Shows
All season at the Carousel Dinner Theatre

Live Dinner Shows
All season at the Candlelight Dinner Playhouse

Live Theatre Shows
All season Around Fort Collins

Live Theatre Shows
All season at 401 Pine Street

Independent Films
All season at The Lyric Cinema Cafe

FAMILY & YOUTH Skating Rink
Thru January 30 in Old Town Square
www.downtownfortcollins.comHarlem Globetrotters
January 8 at the Budweiser Events Center

Big Thunder Draft Horse Show
January 14 -16 at The Ranch

Rails in the Rockies
February 19 – 20 at the Estes Park Confrence Center

Great Plates of Downtown
March 1 – 14 in downtown Fort Collins

St Patrick’s Day Parade
March 12 in downtown Fort Collins

Natural Area Tours
Second Sat of each month at Primrose Studio

Avery House Open Houses
Sat & Sun afternoons at the Avery House

Youth Activities & Educational Events
Almost everyday in various Fort Collins locations

Youth Activities & Educational Events
Almost everyday in various Fort Collins Museum

SPORTS Winter Trails Day
January 8 in Rocky Mountain National Park
www.wintertrails.orgFrost Giant 5k & 10k
January 30 at Estes Park Town Hall

Sweetheart Classic
February 12 at The Ranch

Sharin ‘o’ the Green 5k
March 12 in downtown Fort Collins

Colorado Eagles Ice Hockey
All Season at the Budweiser Events Center

CSU Basketball and Winter Sports
All Season at Hughes Stadium and other locations

Various Run/Walk Races
All season at various N Colorado locations

My Bucket List

How about a creating your own Bucket/Life list?

There is a long tradition at my real estate company, The Group Inc., for partners to write their Goddard’s list.  Quite simply a Goddard’s list is a life list or bucket list of things one wants to do in lifetime.

From John Goddard’s website: 

One rainy afternoon an inspired 15-year old boy named John Goddard sat down at his kitchen table in Los Angeles and wrote three words at the top of a yellow pad, “My Life List.” Under that heading he wrote down 127 goals.

These were not simple or easy goals. They included climbing the world’s major mountains, exploring from source to mouth the longest rivers of the world, piloting the world’s fastest aircraft, running a mile in five minutes and reading the entire Encyclopedia Britannica.

Now, a generation later, he has accomplished 109 of these quests, and has logged an impressive list of records in achieving them.  Goddard does not believe in pursuing adventure for the sake of frivolous thrills, but used these experiences to achieve a worthwhile end.  This end, for him, is scientific exploration, adding to the world’s store of knowledge. “Digging out the facts is the real challenge,” Goddard says in summing up his career. “The adventure is exciting and enjoyable–but secondary.

 OK, what Goddard did is a little daunting and in some cases a little outrageous (milking a poisonous snake, #117 on his list).   But, the remarkable thing is that much of what he achieved was written on his List at the age of 15!  He set his mind in motion by initiating the act of writing the list.

 I encourage you to think about the New Year, the next decade, and beyond.  Think about writing your Life List; remembering that what you focus on expands.  

Here is my Bucket List;

  • Vacation in Australia & New Zealand
  • Go to a Super Bowl game…preferably with the Patriots playing!
  • Go scuba diving
  • Have our rental properties fully paid off
  • Visit Egypt and see the pyramids
  • Run a 5k race
  • Learn to read, speak and understand Spanish at a conversational level
  • Play golf in Ireland and Scotland
  • Family vacation to Europe
  • Hike a 14er with my sons
  • Watch a baseball game at Wrigley Field
  • Go to a Red Sox spring training
  • Watch a football game at Soldier Field (completed on 12/12/10 – Patriots beat the Bears 36-3!)
  • Go to a World Series game
  • Take a Hawaiian vacation
  • Go on an African safari
  • Visit civil war sites
  • Ride in a hot air balloon
  • Visit the Redwood Forest
  • White water raft down the Poudre River
  • Go to a Nebraska Husker bowl game
  • Walk on the Great Wall of China
  • Visit Rio De Janeiro
  • See the Victoria Falls
  • Fly in a helicopter
  • Visit the Galapagos Islands
  • Take a Napa Valley vacation
  • Go to the Greek Islands
  • Go to a Cheyenne Frontier Days Rodeo
  • Visit Iceland
  • Visit Greenland
  • Take family to NYC
  • Family camping trip up the Poudre Canyon
  • See the Northern Lights in Alaska
  • Hike along a portion of the Appalachian Trail
  • Go to France with Michelle
  • Visit Belfast
  • Go snowmobiling
  • Go back to Italy with Michelle

That is my list as of the end of 2010 but it will change as I’m sure there will be other places or things that I’ll want to add to the list and maybe remove something.  The key is to keep this list visible in several places so that you can see it every day – keep a copy at your work, in your bathroom, in your closet or kitchen.  The more you see it the better chance you will have to achieve goals and check them off your list. 

Sometimes a gentle nudge or a little support is all you need!  Begin writing down the list of things you would like to have, to be, to do or to give from now until you leave this planet and make your own bucket list.  Also encourage your kids or grandkids to start their very own list too…it’s a great bonding exercise for the whole family!

Feel free to post your bucket list in the comment section below.


Mike Malvey

First Night in Fort Collins 2011

Are you still trying to figure out what to do this weekend to celebrate the new year?  Here is information about First Night in Fort Collins.

New Year’s Eve- December 31st, 2010 – Come join in the fun downtown for the 15th annual First Night Fort Collins! Enjoy the wonderful and diverse entertainment presented at this non-alcoholic New Year’s Eve celebration. First Night Fort Collins 2011 promises new performing acts, storytelling, history, interactive craft projects, old favorites, street performers, international dancing and much more. This year’s lineup brings Fort Collins, Front Range and national performers together to create an unique experience filled with a wide variety of performance styles. 
Audiences can enjoy entertaining acts like Top Hogs performing pigs (as see on Animal Planet, David Letterman), Fale-West African Drumming and DanceThe Best of the TriMedia Film Festival, and over 100 shows! Enjoy original local theater, be amazed by magicians or learn the legends of the past through storytelling? 
ENTERTAINMENT LINEUP: See the First Night line-up HERE! The evening’s revelry will kick off with confetti and song with the Kids’ Countdown at 5:00pm at the Fort Collins Museum (200 Mathews St.), all venues open at 6:00pm and the night concludes with a festive display of fireworks in Old Town Square at 10:30pm.  (Read FULL PERFORMANCES DESCRIPTIONS Here!)
BUTTONS: Admission to First Night Fort Collins requires the purchase of a $10 button, with children 6 and under free when accompanied by a paying adult.  There are a limited number of buttons on sale this year, only 3,500 will be sold for First Night Fort Collins 2011!!!  Buttons go on sale December 18th at all Fort Collins, Windsor and Loveland King Soopers, and the Downtown Visitors Center.
                     NIGHT OF Button Sales ONLY: Ben & Jerry’s Ice Cream (Downtown),
                     Fort Collins Museum, Northside Aztlan Center & Masonic Lodge Center.
SCHEDULES:   Detailed information about the event, performances and times can be found on the official button card (with button purchase). The official First Night Fort Collins guide will be printed by the Coloradoan Media Group and will be inserted in the Fort Collins Coloradoan newspaper on December 25th and available at the event.
Arrive early! First Night Fort Collins 2011 is filled with entertainment for everyone. Performance seating is on a first-come, first-serve basis. Please have a back up plan if the performance is full. Building capacities will be enforced.

VOLUNTEERS NEEDED! If you would like to give your time to make this event a success please call (970) 484-6500 or e-mail us at:   info@downtownfortcollins.com

Have a happy and safe First Night!

Colorado’s Population Growth

I encourage you to look at the recently released information on the Census website.  It’s interesting to look at Colorado’s history.  Since 1910 we’ve never had a decade with negative population growth.  In fact, in most decades we’ve ranked in one of the top categories for population growth.


Your source for real estate information.
Mike Malvey
The Group Inc. Real Estate
401 W. Mulberry St.
Fort Collins, CO 80521