Tips for Home Sellers

There are currently 270 blog entries related to this category.

A short sale is a situation when the current owners of a home owe more than the home is worth and are behind on mortgage payments. Since they can't sell the home and get out from under it, as an alternative, the homeowner can go to the servicer of their loan and ask them to accept less than what is owed on the home if the homeowner can find a buyer for it. Oftentimes, the bank who holds the loan will agree to selling short on the home or taking less than what is owed on it for a number of reasons.

If a home goes to foreclosure, it ends up costing the bank a significant amount of money. First, they will rack up about $40,000 in legal fees. Second, they have to sit on the home for an average of 9 months or so while the foreclosure process goes through the
3,014 Views, 0 Comments.

Buying a home in Denver is 56% cheaper than renting according to a new study by Trulia.com. I did a double take when I read this, like I imagine you might be doing now. Could that possibly be true? I knew the rental market in Denver was on fire, but so is the Real Estate market.

The article is eye opening and it appears that buying in every large metro area in the U.S. right now is cheaper than renting. These figures are run with a 20% down payment on a home which certainly isn’t realistic for all home buyers. But even with the minimum 3.5% down it works out to still be cheaper to buy in Denver than rent. To read the full article in detail, click here. Below is a breakdown of how they calculated this figure of 56%. Once again, just more reasons why now is
2,203 Views, 0 Comments.

 

In the Real Estate industry, credit score is king. You can get a loan with an average credit score, but to see the absolute best rates possible, you really need to have a good or great credit score, something above 720. Getting above this magic number of 720 can change your interest rate by as much as a half percent and when you are talking interest paid on $300,000, that is quite a bit over the life of a loan.

I had always wondered what influences credit scores the most. I had always heard the obvious, paying your bills on time, but there is much more to it than that. How long you have had an account open, how much debt you have, the types of loans and diversity of loans in your portfolio all factor into the all important credit score. I found an
2,144 Views, 0 Comments.

 

With the Denver market so hot right now, and with prices rising all over town, we are starting to see more and more appraisal issues once again. It isn’t that the home isn’t worth it, there simply aren’t enough sales in the past 12 months to help support some of the prices we are seeing. This is causing more and more deals to crash and leaving some very frustrated buyers and sellers.

Unfortunately, the fact that there are 10 offers on a property doesn’t weigh into the appraisers decision about value. Appraisers have to have solid evidence on paper to show the underwriters that the value is there. While you can’t change your square footage, lot size or finish level before the appraiser comes, you can take steps to make sure your home looks its absolute
3,598 Views, 0 Comments.

  Aria Denver

 

Aria Denver is coming, have you heard of it yet? It isn’t often that a groundbreaking for a new residential development attracts the attention of the Mayor and plenty of news coverage. But when a development is as unique and impactful as Aria will be, it’s certainly understandable why it’s getting noticed.

Aria Denver is the redevelopment of the 25 acre Marycrest campus in Northwest Denver on the corner of 53rd and Federal. The redevelopments vision is unique in that it intends to create a diverse, tight knit community with a sense of place that increases residents’ health and the health of our environment. The development embraces the legacy of community improvement and environmental stewardship. This isn’t going to be your standard collection of
2,887 Views, 0 Comments.

 

Is it possible to get financing in The Glass House right now? It is a problem I have been running into lately with some great new listings coming on the market in there and buyers wanting to buy, but having trouble getting financing. The answer is yes, you can get financing, but there are conditions.

According to the homeowners association for the Glass House, the litigation involves the air conditioning system in the building not being installed properly by the developer when it was built. It isn’t a major problem like some condo buildings see, but it will probably take at least 18 months to sort out.

What this means to buyers and sellers in the building is that as long as the litigation is going on, the building will be non-warrantable.
3,178 Views, 0 Comments.

Whenever I see Denver Real Estate mentioned in the national media it immediately catches my eye, especially when the story delivers more positive news about the Denver market. The latest report I saw on Forbes.com, click here, shows that average asking price for a Denver home has increased the 5th most nationwide. According to the data from Trulia.com, the average asking price in Denver has increased 8.6% from this time last year.

While this doesn’t mean that the average home has appreciated 8.6% since this time last year, keep in mind this is the asking price, not the final sales price, the data is still very encouraging. If you reference a blog I did a few weeks back, click here,  you will see that the average days on market for a Denver home is right

1,923 Views, 0 Comments.

money_home_400Now that the Supreme Court has upheld the health care legislation, all of its major provisions remain in effect, including the new tax that was designed to affect upper income taxpayers. Among the concerns expressed among consumers is that the tax amounts to a transfer tax on real estate. Not true.

Shortly after the federal government enacted sweeping healthcare reform, there was considerable concern over a last-minute addition to the legislation: a 3.8 percent tax on investment income of upper-income households to help shore up Medicare. The tax takes effect in 2013.

The 3.8% tax is imposed ONLY on those with more than $200,000 of Adjusted Gross Income (AGI) ($250,000 on a joint return). The tax applies to investment income, defined as interest, dividends,

1,873 Views, 0 Comments.


Tree Applications available NOW

 

The Park People’s

4th Annual Denver Digs Trees

Fall Shade Tree Distribution

 

Apply Online: www.TheParkPeople.org

or contact The Park People at 303-722-6262

 

Deadline for applications: September 1

Tree pick-up: October 6

 

These trees are strictly for your yard (on private property),

NOT along the street in the public right-of-way.

(For street-side trees, consider our spring street tree program.)

 

Trees are only $25 each

and Free to residents in our target neighborhoods

(Trees this size usually sell for $100+)

 

Denver Digs Trees has provided more than 44,000 affordable and free trees to Denver residents over the past 21 years.  We offer a variety of beautiful trees that make our communities

2,443 Views, 0 Comments.


How is the Denver Real Estate market doing? Around springtime of this year, I did a number of blog posts about how the Denver Real Estate market is on verge of the a seller’s market. With the latest data that is out, it looks like Denver has turned that corner and continues to get stronger.The entire metro area isn’t in a seller’s market yet, but there are pockets that are and we continue to see homes fly off the shelves.

In a report out today by the Wall Street Journal, click here, Denver is the second fastest selling Real Estate Market in the country based on average days on market. The average time on market in Denver is coming in at 33 days, almost a third of the national average. I remember just year or so ago when 100 days was the norm so 33 seems
2,956 Views, 0 Comments.