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

New loan with only 10% down, up to $917,400 and no jumbo rates

90% Loan To Value
Without jumbo rates,
Without mortgage insurance,
Without an origination fee!

Minimum FICO 680
Debt to Income Maximum 45%
Owner Occupied Purchases and Refinances Only (no cash-out refinances)
No Mortgage Insurance
1 Underwrite
Contact me for for more information - 720 226 4168

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.