Tuesday, July 20, 2010

Lowest mortgage rates in 40 years

If you are on the fence about buying, this might help? Today a 30 year fixed mortgage is 4.375% and a 15 year is 3.875% - the lowest in over 40 years! (Subject to credit/ job employment and debt / income ratio).

This is an amazing rate! If you want to get pre-qualified, CLICK HERE or speak to one of my Lender – CLICK HERE

Wednesday, July 14, 2010

Do I need a survey / ILC ??

This forms part of the Contract to Buy and Sell. Like an inspection, it is optional (unless your Title Company / Lender requires one) but many Buyers choose not to order one to 'save costs'. But like an inspection, you run the risk of facing future problems in the future which you will have no recourse on. Here are some facts on having a Survey

ILC = Improvement Location Certificate

What does it do?
It protects you from hidden components - encroachments, easement violations, unrecorded rights, and disclosure of other adverse findings

What does an ILC provide?
* It provides a scaled drawing that will indicate the lot size, location of the improvements, and adverse survey related matters
* Encroachments on to and off of the subject property
* Indentify property line violations of patios, pools, driveways, garages etc

I heard of a Buyer who bought a home on a few acres of land. It turned out that the Buyer only had rights to the land and not the house .. and found out after the sale when it was all too late.

Like an inspection, it is an additional cost to the Buyer, but well worth it to avoid future problems.

Wednesday, July 7, 2010

Million-dollar home market shows some spark

The million-dollar home market is not on fire, but the vast majority of seven-figure homes selling from Boulder to Douglas counties, are not being unloaded at fire-sale prices. Sellers appeared to have made a profit on the vast majority of the homes closed in May. Million-dollar homes across the metro area sold for an average of 92.3% of the asking price. The analysis found that the average sales price per square foot for all of the homes was $334.58. See the full article for more stats: