Colorado Real Estate Snapshot
The Colorado Real Estate market is expected to rebound slowly with the help of the most attractive 30-year fixed rate conventional mortgages in 40 years and the homebuyer stimulus tax credit which expires April 30, 2010. Even with these attractions, painful job losses and home prices fluctuating continues to make it tough on homeowners who can refinance their mortgage and for those who want to take advantage and finance a new home. http://tinyurl.com/y8dzs4y
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
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Posted at 10:43PM Feb 05, 2010 by Vickie A Hall in Real Estate | Comments[1]
Easier Short Sales coming soon!
Great News! New guidelines released by the US Treasury Department should make Real Estate Short Sales MUCH easier and MUCH quicker. Re/Max Chairman, Dave Liniger, pushed hard for the last year for these much needed changes.
Watch this video to see some of the crucial changes that will help those that find themselves in this situation: http://tinyurl.com/y9rohjg
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 02:45PM Feb 03, 2010 by Vickie A Hall in Real Estate | Comments[0]
10 Inexpensive Ways to Wow Buyers
Daily Real Estate News | January 26, 2010 |
Now is the time for home owners contemplating a spring sale to spruce up their properties in anticipation of what Mike Larson of Weiss Research calls a potentially vibrant home-selling season.
"If you have been beating your head against a wall, this is going to feel a lot better,” he says.
Here are 10 cheap ways to make a property more attractive to shoppers: http://tinyurl.com/yk8m833
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 08:38PM Feb 02, 2010 by Vickie A Hall in Real Estate | Comments[0]
Yet another try at foreclosure rescue
By Tami Luhby, senior writer
January 28, 2010: 6:59 PM ET NEW YORK (CNNMoney.com) --
Under fire for the low number of people receiving long-term mortgage help, the Treasury Department on Thursday announced new guidelines that will require applicants to provide all paperwork before getting a trial modification. http://tinyurl.com/y8k8xuu
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 07:57PM Feb 02, 2010 by Vickie A Hall in Real Estate | Comments[0]
Market Conditions for Denver Metro Area - Third Quarter 2009
From NAR Research Department
2009 Local Market Reports - 3rd Quarter
Every housing market is unique. This Local Market Report — which reflect data available through 3rd Quarter 2009 — provides insights into the fundamentals and direction of the Denver metropolitan housing markes. This report evaluates a number of factors affecting home prices, including:
- The health of the local job market
- Foreclosure rates
- Housing inventory
- Debt-to-income and mortgage-servicing-costs-to-income ratios
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 12:34PM Feb 01, 2010 by Vickie A Hall in Real Estate | Comments[0]
4 Demographic Trends That Will Affect Housing
A new report from the Urban Land Institute predicts two major changes in the U.S. housing market as we began a new decade.
- Home appreciation will slow considerably to about 1 percent to 2 percent annually.
- The current U.S. homeownership rate, now at 67 percent (which is down from a record high of 69 percent), will fall further to about 62 percent. http://tinyurl.com/yzxa9ml
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 06:33PM Jan 29, 2010 by Vickie A Hall in Real Estate | Comments[0]
Fannie to Offer Closing Cost Aid on Foreclosures
Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.
The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances. http://tinyurl.com/ye8c5ct
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 05:50PM Jan 29, 2010 by Vickie A Hall in Real Estate | Comments[0]
Doing Taxes may not be fun, but at least it may be free to e-file.
Taxpayers who file returns early are usually motivated by a desire to get refunds as quickly as possible, and that desire will be particularly strong this year. In more prosperous times, a big tax refund meant a trip to Disney World; these days, it's a mortgage payment. http://tinyurl.com/yg2v564
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 07:04PM Jan 28, 2010 by Vickie A Hall in General | Comments[0]
Case-Shiller ranks Denver #3 in Nation
The Denver-area housing market ranked No. 3 of the 20 cities tracked in the closely watched S&P/Case-Shiller Home Price Indices report released today.
The Denver metropolitan statistical area was one of four cities that in November showed a year-over-year improvement, “something we really haven’t seen in at least two years in most markets,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s. Read More at: http://tinyurl.com/ybbc9nu
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 11:48PM Jan 27, 2010 by Vickie A Hall in Real Estate | Comments[0]
Square Footage - How do you determine price per Sq. Feet?
My buyers and sellers are confused about all the different fields that we use for Sq. Footage. There's regular Sq. Feet! Finished Sq. Feet! Total Sq. Feet! Price per Sq. Feet! What is the difference between these fields? [Read More]
Posted at 10:34PM Jan 27, 2010 by Vickie A Hall in Real Estate | Comments[0]
Existing Home Sales Down, but Prices Rise
Existing-home sales fell as expected in December after first-time buyers rushed to complete deals during the months leading up to the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of REALTORS®. Read more.....http://tinyurl.com/y8cym3z
Who do you know that could benefit from this type of information? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 08:55PM Jan 25, 2010 by Vickie A Hall in Real Estate | Comments[0]
Another Big Gain in Existing Home Sales
Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the NATIONAL ASSOCIATION OF REALTORS®. http://tinyurl.com/yem3y7q
Who do you know that could benefit from this recovering real estate market? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 05:38PM Dec 22, 2009 by Vickie A Hall in Real Estate | Comments[0]
New 2009-2010 Real Estate Tax Credit Details!
Who do you know that could benefit from this Federal Tax Credit extension and expansion? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 06:13PM Nov 19, 2009 by Vickie A Hall in Real Estate | Comments[0]
A $400 expense saved my client a $95,000 mistake!
Many times my clients have questioned why they need to spend $300 - $400 on a home inspector. They have many reasons not to spend that money: they have purchased homes before and they know what to look for; they have been or are currently in construction and can spot problems; this is a new build home and the county issued a Certificate of Occupancy, so it must have passed all the inspections.
Well, this is a story about my buyer who avoided making a $95,000+ mistake. My buyer, Kristyn, had been looking for a home for about a month and found a home in the Stapleton subdivision that was just perfect: it was updated and only 5 years old; had a yard - but not too big; was close to running trails and parks; had a wonderful wrap-around deck; was in a great neighborhood and much closer to her work.
She made an offer on the property and after some negotiations, the buyer and seller reached an agreement. Then we moved on to the inspection period in the contract. Inspections are the #1 reason for contracts failing. So they are a very important event.
The inspector Kristyn used was one that I have used for 11 years. I have great faith in my inspector. The home looked great above ground. But in the crawl space, we had another story.
There seemed to be structural issues: the concrete used on the foundation and walls was crumbling; the support beam was too long and was twisted; and the final straw was that the soil underneath the vapor barrier was squishy - indicating there was moisture intrusion under the home. Moisture is one of the top enemies of a home.
Kristyn really wanted this home. This was just perfect for her. She had already mentally moved her furniture in. This home was only 5 years old so certainly the builder would correct any problems.
I counseled her that working with the builder could take months if not years and she was not guaranteed that the builder would correct the problem or even be in business in another 6 months. I thought she was buying someone's problem.
Reluctantly we started looking again at other properties even as we talked with the listing agent, the seller and the builder on the home that she already had Under Contract. After a few days of the builder insisting that there was no problem with this home, that our inspector must not know what he's talking about, Kristyn had heard enough.
With great disappointment, Kristyn terminated the contract on the Inspection Clause and received her earnest money back. Three days later, we found another home in the same subdivision that was the same identical floor plan and model - except this one was on a slab instead of a crawl space. The inspection on this home went well. She closed on this home about 1 week later than she would have on the other home.
Kristyn moved in and is very, very happy in this home. Her furniture went exactly where she had pictured it in the other home. But that's not the end of the story.
Fast forward 11 months - the original home is still on market; it's price has gradually been reduced from $349,000 to the current price of $255,000. My guess is that the builder never stepped up to the plate - even though they had a 10 year structural warranty on this home. This poor homeowner can't get rid of this home and is going to have to take a big loss and her credit will be damaged.
I'm just glad that it's not my buyer that is stuck with the problem and the huge $95,000 mistake because Kristyn paid $400 for an inspection.
Who do you know that could benefit from this type of experience and resources? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 05:15PM Nov 18, 2009 by Vickie A Hall in Real Estate | Comments[1]
More home buyers, not just first-timers, can get tax credit
Have you felt left out of the incentive for first time home buyers to receive a tax credit to purchase a home? Well, I have good news for you.
This new law expands the tax credit to some home buyers who already own a home but would like to downsize to a smaller home or trade up to a nicer place. http://tinyurl.com/yjy4nu6
Who do you know that could benefit from this Federal Tax Credit extension and expansion? E-mail me their contact information and I'll take it from there. I promise to take good care of them. Blog@DreamsCanHappen.com
Posted at 08:04AM Nov 12, 2009 by Vickie A Hall in Real Estate | Comments[0]