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Has anyone every begged you to sell your home? A couple years ago, you probably would have laughed in their face. But now you will find almost every single Realtor and home-buyer begging you to sell your home. As the inventory in Denver keeps falling and more and more buyers are out and about with the nice weather looking for a house, homes for sale are literally flying off the shelf.
Don't believe me? I sent a home buyer 5 homes last night that had come on the market yesterday. By the time we went to look at 2 pm today, 4 were under contract. In some neighborhoods we aren't talking days on market, we are talking HOURS on market and I'm not exagerating.
If we take a look at some of the more popular neighborhoods you can see why we need new…
Before the bubble burst, jumbo loans, loans for more than $417,000, were as easy to come by as conforming loans. But since the market crashed, getting a jumbo loan was almost unheard of. But now that the luxury home market is doing so well, lenders are adjusting and starting to offer jumbo loans once again.
Figures from the National Association of Realtors show that sales are up by 38.7 percent from a year ago for homes with values between $750,000 to $1 million. For the over $1 million homes, sales are up 25.7 percent. Qualifying for a jumbo loan isn't as easy as qualifying for an FHA loan yet. But for those with high credit scores, lots of money in the bank and a few years of tax returns, they are definitely a viable option once…
Why aren't all Denver condos approved for FHA financing? It is a question that I get a lot, especially with first time home buyers looking for a condo in or around Downtown Denver. FHA is very unique in that you can purchase a home with as little as 3.5% down and for many first time buyers that is the difference between owning a home and not. So you would think that all condos would allow FHA financing, but unfortunately, it is more complicated than that. FHA has set standards for condo buildings to determine if they fit within their lending criteria. These standards include the number of units that are owned by investors, the amount of commercial space in the building, the number of delinquencies in the building, reserves with the HOA and the…
FHA mortgages are set to increase their mortgage insurance premiums come April 1st, 2013. While this might not have much impact on you if you have 5% or more to put down on your home purchase, for most first time home buyers, this is a significant change.
FHA mortgages typically cater to first time buyers who only have the minimum of 3.5% to put down or buyers with less than stellar credit. In an effort to minimize their exposure to these sometimes riskier loans, FHA has decided to increase their premiums by .1% on most loans they insure. For the average priced home of $250,000, this is about a $20 increase per month.
While $20 a month doesn't sound like a significant increase, it is when you consider the other change FHA is making. Currently,…
To see the full list of household components, click here. These averages are of course based on usage, maintenance and climate, but it should give you a pretty good idea of how long these items are going to last so you can budget for them and decide if that fix up house you are eyeing is really that good of deal. Here are some more common ones you might be interested in.
Recently, some friends of ours had a very scary close call with Carbon Monoxide Poisoning. They ended up in the hospital, and are just so lucky that everything turned out OK.
Please take a minute to check that you have Carbon Monoxide Detectors and that they are working! It's a Colorado State Law that every residential property must have adequate Carbon Monoxide protection, including detectors within 15 feet of every bedroom, and they must be installed and functional upon transfer of property...but if you have lived in your home for a while, you might not have them at all.
Go. Check. Now!
Information about Carbon Monoxide and CO Poisoning:
Carbon monoxide (CO) is an odorless, colorless gas produced by the combustion of fuels such as…
Have you heard of Midtown yet? If not, you certainly will very soon. Midtown is the newest infill development in Denver. Located just north of Downtown at 67th and Pecos, I had to scratch my head to try to figure out where that is and what is even out there. But after visiting the site today and touring some of their models, I have to say I was pleasantly surprised.
Midtown will have a Stapleton feel to it like most infill projects do. When completed, it will consist of 1,300 residences with commercial space, parks, and community gardens. The developers have done a great job of utilizing the space and providing what homeowners want these days. Below are some of the highlights from our visit today. It is a great opportunity for the buyer looking to be
Home inventory lowest in memory
Supply of Denver Homes at 23 year low
Denver Home Prices keep growing
Big Money betting on housing