What are the mortgage interest rates today??

Still a great time to Buy !!!

CONV 30 YEAR FIXED - 3.5% / 3.616% APR

CONV 15 YEAR FIXED - 2.875% / 3.081% APR

  

FHA/VA 30 YEAR FIXED - 3.250% / 3.431% APR

FHA/VA 15 YEAR FIXED - 2.750% / 3.075% APR

JUMBO 30 YEAR FIXED - 3.875% / 3.975% APR   

CONV 30 YEAR FIXED - 3.5% / 3.616% APR

Conventional loans are based on $300,000 purchase price with 20% down with a 740 credit score and 43% debt-to-income ratio. 

FHA/VA loans are based on $300,000 purchase price with 3.5% down with a 740 credit score and 43% debt-to-income ratio.
Jumbo loans are based on $600,000 purchase price with 20% down with a 740 credit score an

Courtesy of Colorado Home Realty

Kindest Regards

Julie Reddington | ABR®, REALTOR ®,  Broker Associate | Colorado Home Realty |

(Cell) 720-226-4168 | (Fax) 720.981.4788

Go to JulieReddingtonRealEstate.com or CLICK HERE to see what people say

Proactive Approach Overcomes Potential Appraisal Hurdles

The world of appraising has changed dramatically over the last few years. It has called for new tactics to deal with this aspect of a real estate transaction so that it does not become an obstacle to a successful closing.

When the real estate market took a nose dive, lenders in general and appraisers in particular were blamed for much of the problem. Most of this blame was misplaced (a subject for another time) but the result has been new rules on how appraisers and lenders interact. Lenders have to give appraisal assignments to a pool of appraisers in a random, red-robin fashion and the quality of appraising and responsiveness of appraisers has suffered as a result.

In Denver, we have another complicating factor. Prices have risen over the last year by about 10% on average. Appraisers, having been recently blamed for being too generous with their estimates of values for properties, are understandably reluctant to reflect this trend too quickly.

The combination has created situations where it is hard to get some houses to appraise for prices that buyers are more than willing to pay and which the market seems to support. New tactics are needed.

It is much more important now for appraisers to receive marketing information on a property. The flyers and other marketing materials we use when finding a buyer for a home have many details about the improvements and benefits that a property offers. Getting this in the appraisers hands helps to make sure that he/she has a complete picture of the property.

It also helps to give the appraiser a summary of how the market reacted to a particular property. This is especially helpful when there are a lot of showings in a short period of time and multiple offers on the home – a situation that has not been uncommon over the last year.

Finally, in some situations, it even makes sense for agents to meet the appraiser at the property. Handing them the information described above and answering any questions the appraiser may have can help to get the appraiser to see the true value of the property.

Something is always changing in the real estate realm that presents a new challenge. Appraising is just one example of one of the latest. Proactively responding to the new situations is one way to stay ahead of the game to ensuring success for clients.

(c) Colorado Home Realty

Luxury homes in West Ranch, West Ken Caryl

SEARCH WEST RANCH HOMES FOR SALE

Should I keep this to myself ?? OK, I will share a little undiscovered area which has 'blown my socks off'. This Gated Sub-division is called West Ranch which is on the west side of Ken Caryl and is not in the typical part of Ken Caryl as you would expect. It is literally 2 minutes to the US 285 from the north entrance (but you don't hear or see it) and 10 mins to the C470.

As you drive through this area, you will think you have entered a State Park. There are over 500 acres of dedicated open space. A quiet road tucks round wooded forests with some amazing views of the Denver Metro spreading as far as the eye can see. Yet there are over 50 homes tucked behind these trees.

Each home is situated on many acres of land keeping each home very private. They are STUNNING! The houses are zoned for horses - some have stables and barns already.

If you are in the market for a home in this price range, I highly encourage you view these homes.

The bad news is you cannot just drive through. The good news is you can give me a call and I will show you these stunning homes.

SEARCH WEST RANCH HOMES FOR SALE

Selling your Denver home … It doesn’t get any better than this

Considering selling your home in Denver ??

I'm a very visual person.  I think the chart below gives as clear a picture of what I have been droning on about for the last year, and in typical in the last few months ... WE NEED HOUSES TO SELL !!  Are you one of the ones considering??  If so, click here

According to Metrolist® , the average sales price from March 2012 to March 2013 has risen by 19% from $248,065 to $295,330. 

Do you like looking at facts and figures? Check this chart out

But don't let that put off Buyers our there.  I certainly do not want to hear
"I am waiting for the market to bottom out"
" I am waiting for 50 cent on the dollar"
 ..  my response will be "too late!".  However, while the mortgage rate has increased slightly, it continues to stay historically low. If the rate rises by a point, the amount you pay over the course of the loan will far exceed any % increase on home values rising we are seeing in today's market.

If there is a property you like, want, ACT!  I can advise you price - remember it has to appraise, but I do have a few tricks up my sleeve to get ahead of the pack, and ways to get the contract accepted.  Interested??  Contact me here


source ReColorado and Metrolist®

Montecito at Ridgegate - a new home development in Lone Tree

'Montecito' is a new home development located at Ridgegate in Lone Tree.  Built by Century Communities, there are several floor plans comprising of ranch and two story single family homes.  They start from 2261 sqft going up to biggest model at 3682 sqft.

Featured below is the Residence 7640 model which boasts 2892 sqft, Grand and a morning room, 3 car garage, library/study, 3-4 bedrooms depending on if loft is an option.

The homes start from the high $400's. Call me today to tour this beautiful homes !!!

Featured in this development is La Terraza - an outdoor retreat featuring
* Custom pool with zero edge entry and swim lanes
* Lounge Chaises
* Pavilion for social gatherings
* Picnic tables
* expansive play/lawn area

The development is located in a perfect position close to I25, Park Meadows, RTD station, Sky Ridge Medical Center, Lone Tree Arts Center, and Lone Tree Recreation Center.

The Importance of Staging for Sellers AND buyers

“Staging” is the art of getting your house ready to show to prospective buyers so that they see it in its best light. While typically thought of as something agents do only for sellers, an agent’s staging skills are also beneficial to buyers.

Let’s look at both aspects – staging for sellers and staging for buyers.

As a seller, you want your house to show its best. Buyers tend to choose emotionally and then justify their decision logically. Staging, done well, can make an emotional connection with a buyer – providing them with a “wow” experience when they open the door to your house.

With staging, its best to start with the no-cost and low-cost strategies. Rearranging furniture, removing clutter and painting can make a space feel larger and more inviting. Accessorizing is another great way to add flair. It costs little and the accessories that you buy can go with you to your new place.

In some cases, it can make sense to make more substantial improvements. New floor coverings, countertops, plumbing fixtures and lighting may help. Even remodels of kitchens and baths can make financial sense in some cases. We have to be much more judicious about these kinds of things, however. Are the time and effort worth the return even if we get $1.50 back for every dollar spent on the upgrades?

What about staging for buyers. How can staging expertise help you when you are buying?

It can help in two ways.

1) Most homes have not been staged very effectively. We will need to look beyond the current cosmetics to the underlying home and visualize how a different arrangement of furniture or some low-cost improvements will make the space shine. Often you can get a better deal on this type of home as most buyers and agents have trouble seeing beyond the current conditions.

2) You will need to sort out and be wary of the emotional impact you might feel from a well-staged home and make sure that you are paying attention to the house itself. There is nothing wrong with falling in love with the house you buy. You want to feel an emotional attachment if it is a house you are going to live in. However, situations where the effective staging causes buyers to forget about their initial needs and wants (that extra bedroom or that third bathroom) can be misleading and devastating once reality sets in.

Bottom Line: Staging is important for both buyers and sellers. It is something we’ll need to pay attention to on either side of the transaction.

(c) Colorado Home Realty

Understand the inspection process

The inspection phase of the home buying process is vitally important, often misunderstood and frequently just a tad bit frustrating. Here is a brief primer on this vital topic.

A pre-purchase inspection is crucial because it is your chance as a buyer to uncover hidden defects. While it is true that sellers are required by law to tell you of known problems, the disclosure process is handled pretty-poorly in many cases with sellers not being adequately informed of their legal obligations. In addition, problems can be present in a property without the seller knowing about them.

It is also important to understand what you are getting into when you hire an inspector. If you read the inspection contract used by most inspectors, you will find that it typically defines the scope of the inspection as follows: A pre-purchase home inspection is a visual inspection ofmajor components of a house that can be safely and readily observed to document significant deficiencies that areongoing at the time of the inspection.

A pre-purchase inspection of a home is very much like getting a physical from a doctor. Your family practice doc looks in your eyes and listens to your heart and is on the lookout for anything that is not functioning properly. A home inspector does the same with the major systems of a house – looking at the structure, roof, electrical system, furnace and so forth for telltale signs of underlying problems. If he finds any, he may recommend further evaluation by a specialist.

Some aspects of the home inspection process that are frequently misunderstood:

1.    There is no such thing as “passing” or “failing” an inspection. The inspector just gives you a factual report on the condition of the house.

2.    You can ask the seller to fix defects that are uncovered by the inspection but sellers are not obligated to do anything. A negotiation must occur about which items, if any, will be corrected by the seller and/or if a price concession or some other remedy is available.

3.    Inspections do not provide a warranty or a guarantee on the property. We’ve all heard stories of people who have a heart attack right after a physical where they got a clean bill of health. Likewise, things can be wrong with houses that are not caught by an inspection. However, this is extremely rare.

The frustrating part of the inspection process is that buyer and seller expectations are diametrically opposed and always will be. The seller almost-always wants to do nothing and the buyer almost-always wants everything fixed.

The good news is that there are strategies for dealing with these differing expectations. It begins with a lot more education about the inspection process itself.

Also, there are ways of preparing the initial contract on the property that make it more likely for sellers to agree to your inspection requests when you are a buyer and less likely for buyers to ask for unexpected items when you are selling.

We will discuss in more detail when we work together on your transactions.