Home Mortgage and Finance

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What will the Denver Real Estate market do in 2016? Every year about this time, I collect all the data I can, read every article I can find about the Denver market the year before and predictions for the following year, poll all the agents I know, and then try my very best to predict what will happen with the market that year. 

For 2016, I fully expect that the Denver Real Estate Market will be bullish once again. All the major Real Estate researcher companies with people much smarter than myself predict that Denver will be the top Real Estate market in the country in 2016. According to Clear Capital's Home Data Index, the Denver Metro area is expected to see 7.7% appreciation in 2016 which will be highest in the nation, just down from 11.7% we saw…
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December was an active month for the housing market in the Denver metro and surrounding area, with a strong month-over-month increase in sales.    

Home sales saw a jump in December, with 4,436 homes closing, a month over month increase of 31 percent and year over year increase of two percent.  During the month, 3,174 single family detached sales homes sold and 1,262 condos/townhomes sold. 

Download a copy of this report.

“December typically brings a month-over-month increase in residential real estate sales, but this December surprised us with a much higher increase than we’ve seen in previous years,” said Kirby Slunaker, president and CEO of REcolorado. “Home prices have moderated since the second quarter, allowing buyers to jump into a market

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It's that time again...when we're making our lists of goals and New Year's Resolutions and vowing to improve our lives by losing weight, saving money, organizing our closets and getting our bootys to the gym.

If making a move is on your list, you might be considering whether to rent or buy, so we thought we would break down a few reasons why buying a home in the Denver Metro area might make sense for you in 2016.

Interest rates are still low.

Interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

It is likely that we’ll never see interest rates this low again. So, even though Denver area home prices have gone up in the last couple of years, the savings in interest payments could easily

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"To buy or to rent?"

That seems to be the question lots of people are wrestling with these days with interest rates still near historic lows and the housing market continuing to gain strength in most communities. If making a move is on your list of 2016 goals or resolutions, you might be wondering whether it makes more sense to rent a new place in the Denver Metro area, or to buy a Colorado home.

 While each option has its advantages and disadvantages, the decision to purchase a home as opposed to renting is a complicated one and really depends a lot on your individual circumstances. In a market as hot as Denver, both home prices and rents are bound to keep going up.

According to a recent survey conducted for the National Association of REALTORS®,

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We all heard that the Federal Reserve raised its benchmark interest rate yesterday. If you're planning to buy a home soon, put down that can of Dinty Moore stew and climb on out of your doomsday bunker. The sun will indeed come up tomorrow. Your mortgage rate is not directly tied to that Fed rate.

I think this article does a good job of explaining why the Fed Rate isn't really relevant to mortgage rates and gives some good insight on what might lie ahead:

Why the Fed move doesn't matter to mortgage rates

So if it's your life's ambition to geek out financially, watch the yield on the 10-year note. That is the one indicator that mortgage rates tend to follow. (The key word is "tend". It's not fail-safe.)

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Is a biweekly mortgage payment plan a good idea? This is a question I've been getting often from buyers right after they close on a new home which makes me think that mortgage companies are really pushing these programs now. A biweekly mortgage payment plan essentially means that you make half your mortgage payment every two weeks. The idea is that by doing so, you will pay off your mortgage much quicker and pay less interest over the life of the loan. To get the best answer, I turned to one of my favorite lenders, Tracey McVicker with SWBC mortgage since he is certainly the expert in these areas. Here is his advise. 

Theoretically, it is better than just making your payments once a month. If you are making 26 payments per year, 1 every two weeks, in

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As we wrap up 2015 and dive head-first into planning personal and financial goals for the New Year, we came across this information and thought it was worth the share. Please let us know if we can help you with your Real Estate, home ownership, and investment goals, or if you have questions about what might be the best strategy for you as you plan your 2016 and beyond.

Will the next few months find you searching for your first home? Investing in rental properties? Selling your home and using the equity to buy something bigger, smaller, or just in a different part of town? We can help.

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the

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It's one of the most common questions that we get as Real Estate professionals:

Are interest rates going to go up in the near future?

And, although we certainly don't have a magic crystal ball (we SO wish that we did!), we look to the experts to pass along their predictions. This information was just released by Freddie Mac, and we think it's important to note that as rates go up, purchasing power goes down.

The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve and a recent strong jobs report.

"A surprisingly strong October jobs report showed

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The Denver Metro Area Real Estate Market seems to be leveling out a bit..and after months in a super-hot Seller's Market, we have to say we are relieved!

Inventory has picked up a little, Days on Market are a little longer, and prices are starting to reflect the balance as well. All of these factors might be leading you to think about buying a house this fall - super smart move!

Even though Spring is traditionally known as the optimum time to buy a house, Fall is actually a great time for many of the same reasons - you might be able to feel the house on both warm and cool days as you consider buying it, and you will also be able to see the remainders of the landscaping and exterior features while they are still green and not covered in snow.

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Many home buyers, home sellers, and sadly more than a few real estate agents probably don’t realize major changes are coming that will affect the rules governing real estate closings. You’ll no doubt be hearing more about these changes as the deadline for the new rules to go into effect draws nearer.

What are the big changes? On October 3, 2015 the Consumer Financial Protection Bureau, which is a new federal entity created by Congress when it passed the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, will mandate that mortgage documents are locked in at least 3 days before closing.* Additionally lenders will have to use newly created RESPA (Real Estate Settlement Procedures Act) and TILA (Truth In Lending Act) forms:

  • A newly
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