Archive for Real Estate Advice
Does $6,500 Cashback Sound Good?
TeamCox Realtors – Denver real estate specialists – and ALMC Mortgage have teamed up to offer a Homebuyer Training for 2010 Repeat Buyers and First-time homebuyers and YOU are invited!
There will be door prizes, light refreshments and industry professionals available to answer questions! We will address the following topics:
• Why should I buy again?
• What are “HUD homes,” and are they a good deal?
• Should I look at a “Short Sale or a bank owned property?
• Should I use a real estate broker! How do I find one?
• How much money will I have to come up with to buy a home?
• How do I know if I can get a loan? And How do I lind a lender!
• I know there are lots of types of mortgages – how do I know which one is best lor me?
• When I lind the home I want, how much should I seller?
• vVhat if my offer is rejected or countered?
• I have to sell my current home first-what are the steps?
• How to qualilfy for $6500 in income tax credits-ACT by APRIL 30th.
Please join us Jan 21st from 7pm-8:30pm Lil’ Ricci’s NY Pizza at 15352 E Ida Drive Centennial. Please RSVP to 303-696-6933 or Cheryl@almcmortgage.com by Wednesday Jan.20th 2009.
Short Sale Experts in Denver, Colorado
As one of the first Denver-area real estate agents to obtain the title of Certified Distressed Experts, or CDPE, in 2008, we are often asked about short sales - what is a short sale and how does the process work? A short sale is when a qualified homeowner offers his or her lender, in the form of a bona fide written contract, an amount less than is owed on the liens. There may be two or more liens, sometimes there are IRS liens, or other encumbrances that must also be satisfied.
Short sales are becoming an increasingly common alternative to foreclosures, with the number of short sales tripling to 40,000 during the first six months of 2009,
This type of transaction cannot successfully be handled without the knowledge and experience of a trained and skilled real estate agent, preferably with the gold-standard of education – CDPE.
Seven out of 10 homeowners do not get the help they need, which often leads to a foreclosure. This is a devastating alternative. If you need help, please do not delay in contacting TeamCox Realtors – Denver real estate specialist – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
New Guidelines in Place to Help Denver Homeowners Avoid Foreclosure
The U.S. Treasury set long-awaited guidance yesterday, through the Home Affordable Foreclosure Alternatives Program, which is designed to expedite the short sale process of homes and for other loan modification alternatives to slow the rising rampant pace of foreclosures.
Since TeamCox Realtors, Certified Distressed Property Experts, or “CDPE,” actively helps distressed Denver homeowners facing foreclosure, we are pleased to see this new piece of legislation. A few of the new guidelines are setting limits on the time it takes a bank to approve an offer and capping claims of subordinate lenders.
If you are in financial difficulty and facing foreclosure, pick up the phone and call a knowledgeable real estate agent immediately. Do not delay. We can help, and now with the Dept. of the Treasury behind us, we have greater means of offering assistance.
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
You already own a home, and you may be longing for a new one. You’ve sadly watched as all of the recent incentives have gone to first-time homebuyers. Well, it’s your turn now – the newly expanded $6500 tax credit is all yours!
There are several incentives that make this too good of an opportunity to pass up:
• There is currently a significant inventory of replacement homes (priced above $350,000) available in the Denver area.
• Interest rates are under 5 percent, which will not last as inflation will begin to impact the national economy. In approximately a year’s time, these low rates will be gone for a very long time, possibly forever. Purchasing a home with one of these very low interest rates will guarantee you a 5 percent rate for 30 years!
• Denver’s very low (by comparison) unemployment rate of 7 percent is just one of the contributing factors that makes Denver one of the few U.S. cities to have a 1.8 percent housing price increase over the same period last year.
We sincerely believe the worst has passed for the Denver housing market. If you have even considered purchasing a new home to create a better lifestyle for your family, do not let this perfect coming-together of reasons to buy a home in early 2010 pass you by. To qualify for the tax credit, you must have a home selected by March 30, 2010 and close on that home by June 30, 2010. It is also important to know that the National Association of Realtors worked very hard to get the first-time homebuyer tax credit extended to include move-up buyers. The NAR was told, in almost no uncertain terms, this bill will not be extended beyond March 30, 2009. Time to get moving!
For information on purchasing a home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver-Area Foreclosures Decline from Last Year
There is good news for the Denver real estate market this week. According to RealtyTrac Inc., Denver-area foreclosure filings decreased 1.6 percent in the third quarter of last year. There were 9,235 Denver-area properties that were in some stage of the foreclosure process in the third quarter, which equates to one per every 113 households.
While a lower foreclosure rate is great news for the health of the general Denver housing market, one distressed Denver homeowner is too many. If you are a Denver homeowner who is looking to avoid foreclosure in the Denver area, please contact TeamCox Realtors at 303-400-6060. We are a CDPE, or a Certified Distressed Property Expert, trained to help homeowners explore alternatives to foreclosure, including short sales, loan modifications, and much more. We have helped numerous homeowners avoid foreclosure and put them on a path to a brighter future.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
What Types of Denver Homes Are Selling Right Now?
What Types of Denver Homes Are Selling Right Now?
There are two types of Denver area homes that are selling, despite the rather slow current market conditions – the “gotta have it” home and the “make me a deal” home. The “gotta have it” home is well-positioned in the market, exuding an emotional appeal from the moment the real estate agent pulls up to its curb. Your mother was right – first impressions mean everything, and they are especially important in real estate. Keep in mind, that prior to entering the home, potential buyers are evaluating the yard, the paint, the trim, the cleanliness of the outside entryway, and even if the doorbell works or not. The house is being closely compared with the last home the buyers saw, and it will be quickly be compared with the next one home the list.
The “make me a deal” home is also selling, but this property must be aggressively priced, since the buyer for this home is looking almost exclusively for the best possible price, or the best square footage “deal” in the target neighborhood There is not nearly as much emotion involved with this transaction as with the “gotta have it home.” Obviously, the best possible combination for a quick sale is if the best priced home also happens to be great looking and in good condition.
As an Accredited Staging Professional, TeamCox Realtors – your Denver real estate specialists – can give you guidance in getting your home ready for the market, along with many other complimentary services that we can offer.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Financing Your First Denver Home
Financing Your First Denver Home
First-time Denver homebuyers and sellers might want to consider an alternative to a price reduction, since the monthly payment is usually a huge concern to them. The monthly payment is essential for the budget minded, but it is also extremely important for the buyer to qualify. Here is a financing possibility for both buyers and sellers to consider:
A 5 % interest rate on a 30-year fixed mortgage sounds pretty good, doesn’t it? While we think this is a great rate, here is another possibility for a seller to consider – instead of taking a lower price for a home, how about the seller paying 2.25% of the sale price and offering this great rate to the buyer?
Example:
Sale Price: $278,000 X 2.25% = $6,255
Loan 90% $250,000 X 2.50%* = $6,255
Payment for $250,000 @ *4.375% = $1,248.21
VS Seller reducing price by 2.25% and buyer pays market rate of 5% = $1,312.9
(* 2.50% of the loan amount paid by seller.)
The pricing can be very similar for FHA buyers as well.
For more information on financing your first Denver home, or for a lender recommendation, please contact TeamCox Realtors – Denver real estate specialist – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Buying Your First Home is No Longer Just a Rite of Passage
If you are sitting on the fence, trying to decide if this is the right time to buy a home, you’ve probably heard this before.
A first-time buyer, or someone who has not owned a home during the past three years, has the opportunity to take advantage of an $8000 tax credit that is due to expire on November 30, 2009. The Denver housing market still has a good inventory (that is shrinking), low housing prices that are beginning inch up, and low interest rates that are almost assuredly going to increase.
While all of this fundamentally makes sense for a home purchase, we believe that the key reason that people purchase a home is to enhance their lifestyles. It is still about having a place to call home – a place where you do not have to ask the landlord for permission to paint the walls or to dig in the garden. A place where you can put down roots, throw a ball for the dog and dig in a garden-or not! There has always been a bit of status that comes with homeownership. It’s cool to be able to discuss the neighborhood schools, the dog park, or the close proximity to shopping or your favorite restaurants.
There is not a time that I can remember homeownership coming with a greater respect. Owning a home is no longer a “rite of passage,” but a proof of creditworthiness and responsibility. It is a signal to relatives, friends, and employers that you are reliable and truly a member of the big league.
If you feel that owning a home is now right for you, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060. We will make your dream of home ownership come true.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Real Estate Update – August 2009
The Denver real estate market heated up in July, according to Metrolist’s latest statistics. The number of resales of single-family and condos, which increased a whopping 6.1 percent from May to June, was the highest of the year, although it was still lower than last summer.
Price range continues to be a major factor in the Denver real estate market – homes above the $300,000 mark are moving a bit slower than lower priced homes. This breaking point is often determined by the maximum FHA loan limit, which is $417,000 and under.
While the Metrolist statistics show slight year-to year and month-to-month decreases, the most recent S&P/Case-Shiller Home Prices Index reveal that Denver home prices rose 1.3 percent from April to May, which is an increase for the third consecutive month. It also reported that Denver home prices had the second-lowest year-over-year price decline of the 20 cities included in the report.
It is obvious to us that the Denver real estate market bottomed months ago. If you are a Denver homebuyer, don’t miss your opportunity to take advantage of the strongest buyer’s market in decades – it won’t last long!
For information on the state of the Denver housing market, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own
An Event for Greening Your Home
Are you a Denver-area homeowner who is thinking of “greening” your home? TeamCox Realtors has found an event for you! This month’s Parker Library Café Current is covering,“Principles of LEED + Greening Your Home.” The event is on Tuesday, July 14 at 7:00pm at the Warhorse Inn (19420 E. Mainstreet) in historic downtown Parker. Bill Blomberg, a LEED-accredited consultant, will explore energy efficiency issue, along with the benefits of efficiency home projects. He is an expert in energy conservation, energy-efficiency technologies and strategies, focusing on solar energy.
For tips on making your home more environmentally friendly, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060. We are a certified Ecobroker, and have gone through extensive training on many environmental issues pertaining to real estate.