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."