Monday, December 28, 2009

Denver real estate fares better than most

Times were tough for metro Denver commercial and residential real estate businesses in 2009, but not as bad as in many other U.S. cities. The constricted debt market remained one of the biggest problems for all real estate businesses, including commercial developers and homebuilders. The federal government’s $8,000 first-time homebuyer tax credit did what it was supposed to — stimulating sales of both newly built and existing homes in lower price ranges. “For Denver’s housing market, 2009 was a year of so many industry changes, from short sales to new loan and appraisal rules,” said Leeann Iacino, president/CEO of Re/Max Professionals. “It was a year for not only the real estate professionals to retool their business, but also for the consumer to really understand all the changes.”^2642401&s=industry&i=commercial_real_estate

Sunday, December 27, 2009

LoDo: Denver’s real estate hot spot

Tuesday, December 22, 2009

Move-Down Buyers Can Be Eligible For Tax Credit Too

- Move up, move down, move sideways; it just doesn't matter - buyers may still qualify for the new tax credit available to current homeowners. It is unfortunate that the credit has too often been characterized as a credit for "move-up" homeowners

Monday, December 21, 2009

Fewer homebuyers calling off contracts

- Cancellation rates for buyer contracts on newly built homes were down by half in late 2009, and the rate of home shoppers who buy was up, indicating an improving Denver-area housing market. Weekly cancellations in November and December averaged roughly 22%, compared to 40% to 45% for the same months of 2008, according to Metrostudy Inc.^2611191&s=industry&i=resi_real_estate

Tuesday, December 8, 2009

Under contracts drop, but homes prices up

The extension of the tax-credit for home buyers seems to have removed a sense of urgency. Last month, 3,444 Denver-area homes were placed under contract - a 29.9% drop from the 4,910 homes placed under contract in October. .

Friday, November 13, 2009

Unlock your IRA to purchase Real Estate

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Friday, November 6, 2009

Denver area - homes sales pick up in October, inventory drops

There were 4,910 homes placed under contract in October - a 9.0% increase from the 4,504 homes sold in October 2008. The average price of all homes sold was $261,771 - an increase of 4.6% from October 2008. The average price, however, is down from $274,433 in September, which reflects the mix of housing prices. The median price of all homes sold, at $222,000, increased by 7.7% from $206,000 in October 2008, but was down 1.33% from $225,000 in September. There were 18,945 unsold homes on the market in October - an 18.1% drop from a year earlier.

Thursday, November 5, 2009

Mortgage too high, now you can rent your home

Fannie Mae's new Deed for Lease program allows borrowers who would otherwise lose their homes to remain as renters for at least a year.

Senate expands homebuyer tax credit, extends jobless benefits

Senate expands homebuyer tax credit, extends jobless benefits

Monday, November 2, 2009

Denver home prices rise for the sixth straight month

Foreclosure Filings drop in Denver Area

Foreclosure filings in the Denver metro area fell nearly 1.6 percent in the third quarter from the same period a year ago, according to data from RealtyTrac Inc.

The Denver-Aurora area had the 47th-highest foreclosure-filing rate among 203 large U.S. urban areas in the first quarter of the year, according to figures released late Tuesday by RealtyTrac, an Irvine, Calif.-based marketer of foreclosure properties, in its “Metropolitan Foreclosure Market Report.”

Friday, October 30, 2009

Denver fares better than nation in home resale prices

According to a First American CoreLogic Inc. report released yesterday, Denver-area home resale prices dropped in August year over year, but were down far less than the national average. First American’s LoanPerformance Home Price Index (HPI) showed that metro Denver’s average home-resale price — including sales of distressed homes such as foreclosures and short sales — decreased 1.44% in August from the same month of 2008. Nationwide, resale prices dropped 10.1% in August from August 2008. By comparison, July home prices in the Denver area dropped 2.64% from those of July 2008, and June prices were down 3.21% year over year. However, when distressed sales are excluded, August home prices were down less than 1% — .58% — from the prior-year August. July prices, not including distressed sales, decreased 1.26% and June’s prices dropped 1.68% year over year.

Monday, October 26, 2009

Sale of existing homes surged 9.4% ..

Sales of existing homes surged 9.4% in September, as lower prices and the looming expiration of a federal tax credit lured more buyers into the market. - Economists React: 'Blockbuster' but What Now? - Econ: Bankruptcies in 'Middle-Class Recession' - Video: Flaws in Home Buyer Tax Credit

Thursday, October 22, 2009

Sell short, get $1500 in closing costs

Sell Short, Get $1,500 in Closing Costs, as reported by Realty Times, the U.S. Treasury is poised to announce a finalized plan to expand mortgage relief efforts to include short sales. Under the Making Home Affordable Home Affordable Modification Program (HAMP), the Treasury is expected to announce a $1,500 closing cost incentive for those who agree to short sales or deed-in-lieu deals. The Treasury will also pay the lender $1,000 for accepting a short sale or deed-in-lieu deal.

Tuesday, October 13, 2009

real Estate Outlook - Warning of slow down ?

Though some economic analysts are warning that the housing market's rebound will slow down as the weather turns colder, this week's numbers show no hints of that. The Clear Capital Home Data Index, which tracks price movements in thousands of neighborhoods and ZIP codes across the country, reported a 6.3% gain last week for the period covering August 27th through September 25th. The latest index found prices up for the first time since 2006 in some of the hardest hit real estate markets. The Mortgage Bankers Association says average thirty year rates dropped again last week in its national survey - hitting 4.89% - the lowest they've been since May. And here's a truly amazing statistic: New mortgage applications to buy houses using FHA loans were 52% higher last week than they were a year ago!

Tuesday, October 6, 2009

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Monday, October 5, 2009

Nearly 1m bank foreclosures in process

see them coming on the market

Colorado economy predicted to rebound

While Colorado was one of the last states to succumb to the U.S. recession, it appears poised to be among the first states to rebound, according to the University of Colorado at Boulder's leading economist. If technology and business spending fuel the recovery, then Colorado is in a strong position to benefit, Richard Wobbekind said. The higher energy and commodity prices that accompany a recovery should benefit Colorado, especially the more rural areas in the state. A broader U.S. recovery will also result in more goods being transported, which will benefit Colorado. Forecasts call for the state's job growth to return to a positive 0.4% next year, fourth-best among all states. Wobbekind cautions any recovery will be sluggish at best. Unlike some economists, he doesn't expect a second downturn or double-dip recession later in 2010 or 2011. "We think we have enough momentum to stay positive," he said.

Monday, September 28, 2009

Don't pay for Foreclosure searches!!!

I came across this article and was shocked to see some companies still charging for Foreclosure searches. We offer this service for FREE!!

Thursday, September 10, 2009

treasury: Millions more foreclosures coming

Treasury: Millions more foreclosures coming

Denver home prices appear stable

Denver home prices appear stable - As the end of prime selling season approaches, August sales were down in the Denver area year over year, but selling prices were relatively stable. Last month’s home sales dropped 14% to 3,905 from a year ago, and sales were down 12% from July of this year, according to a report released yesterday by Metrolist. However, the average selling price for both single-family homes and condos decreased only 3.87% year over year to $251,008, and was roughly flat from July with only a 0.68% drop. The median selling price for single-family homes was basically flat year over year at $227,000, down 0.89% from August 2008 and down 1.26% from July of this year. Both houses and condos sold faster in August, with fewer days on the market for sale year over year and from July of this year.

Monday, September 7, 2009

Pending home sales on a record roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

Tuesday, September 1, 2009

Denver luxury home sales dipped, but selling faster

Denver luxury home sales dipped in July, but those that did sell moved faster - In July, luxury home sales and selling prices in metro Denver dipped, but the homes that did sell sold at a faster pace than a year ago. A total of 52 homes selling for $1 million-plus sold last month, down from 65 in June and from 91 in July of 2008. The median selling price for high-end homes decreased to $1.22 million in July, from $1.38 million in June and from $1.31 million in July 2008. But luxury properties sat on the market only 83 days before selling in July, compared to 103 days in June and 107 days in July 2008, according to Coldwell Banker's luxury housing report. Homes sold for 87% of asking price on average, down from 91% in July 2008.

Monday, August 31, 2009

Some foreclosure buyers feel guilty

College grads feel at home in market

- Attractive home prices and the first-time homebuyer tax credit have many recent college grads considering becoming homeowners. Limited work and credit histories can make getting a loan more difficult. In some cases, however, lenders are willing to consider education and internships as work history. "Internships are helpful because it shows that you are employable and that the income from their employer would be stable," said Les Worton, a veteran mortgage broker with North Suburban Mortgage, a division of Universal Lending. Credit history can be a challenge, however, and recent grads are likely to find it an increasingly significant roadblock. In the current market, mortgage-loan services are demanding a 620 credit score or better for FHA and VA loans. While numerous variables are taken into consideration, an individual's credit and income situation take greatest precedence.

Sunday, August 30, 2009

Platte River parcel offered for $5.4m

An industrial property located along the South Platte River, just south of the Invesco Field, has been listed for $5.39 million. Located at 1401 Zuni St., the property includes seven industrial buildings totaling 111,529 square feet of space on 3.34 acres of land. The riverfront property is “ideal for residential/commercial redevelopment,” partly because of its proximity the Auraria Campus and other parts of downtown Denver, according to its listing brokers, Dawn McCombs and Mitch Zatz of Jones Lang LaSalle Inc.

Tuesday, August 25, 2009


We have been contacted to see if we know of anyone thinking of selling their home for the first time.

HGTV are starting a production on a spin-off of My First Place, called My First Sale.
You cannot be camera shy!! They want outgoing characters.

If you, or if you know of anyone who is thinking of selling their first home and think they may be a good fit for this, please e-mail back with the details.

Thursday, August 20, 2009

Mortgage Brokers Try to Change Appraisal Rules -

Downsizing?? How to live large in small spaces

Mortgage delinquencies break another record

Today's market ideal for investment properties

Today’s real estate market represents a tremendous opportunity for buyers that would buy a home, condo, or duplex as an investment. Interest rates are low, values are excellent, and demand for rentals in strong.
There is a right and a wrong way to invest. The wrong way helped lead to the financial crisis that we have been going through the last 18 months. Small or no down payments, exotic loans where the payments where not even covering the interest on the loans, loans that ballooned (came due in three to five years) or loans that had adjustable interest rates. Buyers and/or investors where able to buy homes or investments, without documentable income. This type of investing was extremely speculative and depended on continued strong appreciation. ...

Tuesday, August 18, 2009

Almost 38% of homes are "underwater"

Almost 38% of homes are "underwater" - Some 37.8% of mortgaged homes in the Denver-Aurora-Broomfield area had negative equity in the second quarter of this year, according to a study released yesterday by First American CoreLogic Inc. The national rate was 32.2%, down from 32.5% the first quarter reflecting a flattening of monthly home price changes. “Negative equity continues to be the dominant driver of the mortgage market … Given that negative equity did not increase this quarter, and home-price declines are moderating or flattening, it may indicate we are at the peak of the negative-equity cycle,” Mark Fleming, First American’s chief economist, said in a statement.

Friday, August 14, 2009

Best Cities for a housing recovery

Best Cities For A Housing Recovery (CO Springs #3, Denver #7)

Business Week ranks Boulder as strongest US housing market

BusinessWeek ranked Boulder the strongest housing market in the United States. The report describes Boulder as “an affluent Denver suburb that is home of the University of Colorado at Boulder.” According to the report, 59.39% of homes in Boulder appreciated over the last year, and the median home value rose 2.12%. “Boulder has several factors working in its favor,” Business Week said. “The town has controlled growth by putting limits on development and by acquiring more than 50,000 acres of open space for a greenbelt that surrounds the town. With the boundary of the Rocky Mountains to the west, the supply of new homes has been restricted." Fort Collins made the list at No. 19 with 28.82% of its homes appreciating over the last year.

Monday, August 10, 2009

Selling home? Clean up and get a tidy profit

Denver scores best month of 2009 for home resales

Home sales rise in July

In July, home sales in the Denver area rose to 4,440, up from 4,186 the previous month, according to Metrolist data. The median home selling price slide to $229,900 from $237,500 in June, but rose slightly from $229,200 in July 2008. At the end of July, the inventory of unsold homes stood at 20,890 units. Most buyers paid from $200,000 to $300,000 for homes, while 52% of condo sales were under $150,000.

Friday, August 7, 2009

Denver's economy expected to recover sooner than most

Despite struggling economy, Denver still attracts business - Metro Denver's solid reputation as a great place to live means the business and economic climate will be on the rebound sooner than most locales across the nation, according to a new economic summary. The summary data was recently compiled for August by the Metro Denver Economic Corporation (Metro Denver EDC). "We are continuing to report a better-than-average outlook for Metro Denver's economy," Tom Clark said, executive vice president of the Metro Denver EDC. "We have done a much better job at diversification of our economy in sectors on the cutting edge for long term growth." Colorado is a leader in the growing areas of Internet technology, aerospace and alternative energy.

Wednesday, August 5, 2009

Another sign of a housing thaw

Another sign of a housing thaw, an article from, reports that June marked the fifth straight month that pending homes sales increased. The National Association of Realtors' Pending Home Sales Index rose 3.6% in June and it was 6.7% higher than in June 2008. Five straight months of increases has happened since July 2003. The jump was also much higher than expected - experts put together by had forecast an increase of just 0.7%. Low-end sales have been the strongest segment indicating that the first-time homebuyers tax credit is contributing to the rise. "Because it may take as long as two months to close on a home after signing a contract," said NAR chief economist Lawrence Yun, "first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by Nov. 30."

Wednesday, July 29, 2009

Home Values on the Rise

Home Values On The Rise, an article from, reports that there are new signs that Colorado home values are rebounding. Buyers are still finding bargains in the more expensive homes. However, homes under $400,000 are going quickly. May marked the first monthly increase in home prices since the summer of 2006, according to the S&P/Case-Shiller index. Prices rose from April in 13 of the 20 cities tracked, notably Denver, Cleveland, Dallas and Boston. John Rebchook, a long time analyst of the Denver housing market predicts that Colorado will likely lead the way out of the recession.

Friday, July 24, 2009

Fixed Rate mortagage rates rise this week

Fixed-Rate Mortgage Rates Rise This Week, an article from Realty Times, reports that the 30-year fixed-rate mortgage averaged 5.20% with an average 0.7 point for the week ending July 23, 2009, according to Freddie Mac's Primary Mortgage Market Survey. Last week, it averaged 5.14%, and a year ago it was 6.63%. "Mortgage interest rates were mixed this past week with fixed-rate loans averaging somewhat higher while initial rates on ARMs were flat-to-down slightly," said Frank Nothaft, Freddie Mac vice president and chief economist. "Federal Reserve Chairman Bernanke, during his July 22 Senate testimony, noted that mortgage rates are lower than they were last fall, in part because of the Federal Reserve's actions, and housing affordability right now is the highest its been in many years."

Thursday, July 23, 2009

Which cities will and won't recover the fastest

Which cities will, and won’t, recover the fastest. Boulder is one of the cities expected to recover sooner rather than later

Mortgage applications rise

Mortgage Applications Rise Slightly

The cheapest metro areas to live

The Cheapest Metro Areas to Live Fort Collins-Loveland ranked #2 and Greeley #3 for the Mountain region

Colorado, Denver outperform nation on home-resale prices

Colorado, Denver outperform nation on home-resale prices, an article from The Denver Business Journal, reports that both metro Denver and the state of Colorado outperformed most of the rest of the country when it comes to prices of home resales. According to the LoanPerformance Home Price Index (HPI), the Denver-Aurora-Broomfield area had one of the lowest decreases in home-selling prices at 1.86% in May year over year. Month over month, the Denver area showed a .49% decrease in home prices in May. Colorado as a whole posted one of the smallest decreases in home selling price a few months ago, at 3.34% year over year.

Wednesday, July 22, 2009

New bigger homes take hold in Wellshire

New, bigger homes take hold in Wellshire, an article from The Denver Post, examines, Wellshire, a thriving area in southeast Denver with a small-town feel. "It's a great mix of old homes and new homes like ours, longtime residents and new residents, old and young," said Jeff Shoemaker a Wellshire resident. "There is the best of both the small town and yet an in-the-city neighborhood." Wellshire has expansive lots, low crime rates and prices that are solid - and climbing. The neighborhood is a short distance from Observatory Park, Eisenhower Park and the Wellshire Municipal Golf Course. Approximately three out of every four Wellshire homeowners are in their 30s, with school-age children. Wellshire consisted mostly of ranch-style brick homes built primarily in the late 1950s and early 1960s. "The ranches are being torn down and million-dollar properties are being constructed," said Denver Realtor Bill Rittner. "It's like University Park in the last 20 years, which is now primarily million-dollar homes. That's where Wellshire is headed."

Real Estate Outlook

Buyers Getting Message, an article from Realty Times, reports that continuing declines in mortgage rates and signs of home price pick-ups dominate this week's economic outlook for real estate. Thirty-year, fixed-rate mortgages averaged slightly over 5% last week, according to the Mortgage Bankers Association. Last week, new applications to buy houses and condos jumped by 9.4%, while refinance applications were up 18%. The home price index that tracks more zipcodes and neighborhoods than any other - the Integrated Asset 360 index - found that prices nationwide moved up by 1.6% in May, based on data from more than 15,000 sub-markets. IAS said the increase in prices was the largest recorded by the index since July of 2005. Prices in Denver were up by four tenths of a point.

Monday, July 20, 2009

Richer neighborhoods buck home sales trend

All about location: Richer neighborhoods buck home sales trend, an article from The Denver Business Journal, reports that selling prices continue to rise in some of the Denver metro area's most desirable neighborhoods. According to recent data compiled by Metrolist, some of the area's experiencing average-selling price increases were as follows: Boulder - 26.8% to $732,865; Louisville - 4.4% to $399,276; Boulder County north of Lafayette - 2.8% to $336,292; Boulder plains area - 1.4% to $606,976; Douglas County's western area - 0.57% to $410,097.^1861968&s=industry

Thursday, July 16, 2009

Wednesday, July 15, 2009

6 figure towns feature Lone Tree, Co at no 8

Population: 9,159
Median family income (per year): $137,310
Median home price: $435,000
The city's motto unabashedly proclaims, "It's a great day to be in Lone Tree," for good reason. In this picture-perfect place just south of Denver, culture meets a thriving commercial community amid a backdrop of vast open spaces and Colorado's famous mountain views.
Exclusive residential gated communities and one of the best shopping malls in Denver contribute to Lone Tree's upscale feel. Residents get their cultural fix each summer during the outdoor summer concerts series. Having fun is so important to the folks in Lone Tree that they even voted to raise the city's sales tax this year to fund new recreational and cultural amenities.

Coloroad mortgage rates at 5.16%

Zillow: Colorado mortgage rates at 5.16%, an article from The Denver Business Journal, reports that Colorado mortgage rates continue to slide, according to Zillow Mortgage Marketplace. Rates for 30-year fixed-rate mortgages in Colorado averaged 5.16% on Saturday, down from an average of 5.23% a week earlier. In mid-June, these rates were averaging about 5.7%. Nationwide, mortgage rates averaged 5.14% Saturday.

Monday, July 13, 2009

Best place to live... Louisville, Co

Best Places to Live, an article from, reports that Louisville, CO ranked #1 on Money's list of America's best small towns. Louisville is a down-to-earth kind of town. It has a Friday-night street fair, with a beer garden, live music and games for the kids, that runs all summer long. It's weathered the economic downturn well with its focus on the high tech, energy and health-care industries. The top reason residents move to Louisville? The great outdoors. It boasts over 30 miles of trails, close proximity to Rocky Mountain National Park and eight ski resorts within a two-hour drive. Also, the town's schools are highly rates. Louisville also enjoys little crime, good health care and low taxes.

Morgage rates down this week

Mortgage Rates Down This Week Amid Concerns Over Labor Market, an article from Realty Times, reports that the 30-year fixed-rate mortgage averaged 5.20% with an average 0.7 point for the week ending July 9, 2009, according to Freddie Mac's Primary Mortgage Market Survey. Last week, it averaged 5.32%, and a year ago it was 6.37%. “Interest rates for 30-year fixed-rate mortgages fell for the second week in a row to the lowest level in six weeks amid market concerns over a weakening labor market,” said Frank Nothaft, Feddie Mac vice president and chief economist.

Saturday, July 11, 2009

Friday, July 10, 2009

Monday, July 6, 2009

Pending Home sales rise again

Pending Home Sales Rise Again, an article from Realtor Magazine Online, reports that pending home sales displayed a sustained upward trend, rising for four consecutive months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1% to 90.7. This is 6.7% higher than in May 2008. There hasn't been four consecutive months of gain since October 2004. "Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions," said Lawrence Yun, NAR chief economist.

Denver fares best in home-proce survey

Denver fares best in home-price survey, an article from The Denver Post, reports that Denver fared the best among the 20 U.S. cities in the S&P/Case-Shiller home-price index for the second consecutive month. Denver is one of eight cities that recently reported a month-over-month gain in prices - rising 1.5%. "Seeing the recent numbers from the Case-Shiller report has given some credence to what we have been feeling in the market in Denver," said Dee Chirafisi of Kentwood City Properties. "Denver has been named one of the five best cities as far as real-estate recovery and the five best places to live, etc."

Wednesday, June 24, 2009

Get $15k to Buy a home

Denver was ranked no.1 metro showing long term promise for homebuyers

Best Cities To Buy A Home, an article from, reports that Denver was ranked the #1 metro showing long-term promise for homebuyers. Home sales in Denver are fairly evenly distributed showing proportionate activity. "Denver scores very well in terms of being able to bring people into a stable housing market," says Christopher Cornell, an economist at Moody's "It has better growth potential than most cities today." Denver's stability is attributed to its main industries - energy and technology - that Cornell believes aren't likely to decline simultaneously.

Existing home sale rise 2.4% in May

Monday, June 22, 2009

Great home in Castle Rock

Great home for sale in Castle Rock
Quiet Neighborhood, Cute, Spotless, Well Maintained, Security System, Maple Cabinets Ceiling Fans
Douglas County are offering a program where they will give you up to $20k in down payment assistance. Ask us how.

Looking for a fixer / foreclosure

Tax credit for home purchase could rise