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 Homebuyers: Get Into Your Own Home With 3.5% Down
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own
Calling All First-Time Denver Homebuyers!
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Calling all first-time Denver homebuyers – it simply is a great time to buy your first home! Since President Bush just signed the far-reaching housing bill, H.R. 3221, into law, TeamCox Realtors wanted to notify our prospective homebuyers of the changes that will take effect on October 1, 2008. Some of the highlights include:
There will be a ban on down-payment assistance from sellers for all FHA loans. This means that if you are pre-approved to purchase a home through a down payment assistance program, such as the Nehemiah Program, you will need to act quickly to purchase a home before October 1st.
- The required down payment for FHA loans will also increase from 3% to 3.5%.
- There is a new $7500 homebuyer tax credit that is available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years, which makes it in effect, an interest-free loan.
Please click here to read more about the changes in store for homebuyers. For more information on how the new law will affect you, please contact us at 303-400-6060. TeamCox , Denver real estate specialists, would love to help you find your dream home.
Mortgage Rates are Falling!
There has never been a better time to dive into the Denver real estate market!
There has never been a better time to dive into the Denver real estate market! Prospective Denver homebuyers were given an extra incentive last week (the week ending November 29th) to take the plunge into the Denver housing market, currently a strong buyer’s market. Nationally, 30-year fixed mortgage rates fell to 6.10 percent from 6.20 percent, the lowest level the lowest rate since October of 2005.
If you don’t already own a home in the Denver metropolitan area, now is the time to buy one! There are many beautiful homes to choose from that boast very attractive price tags. Falling interest rates is just one more component that makes home ownership in the Denver real estate market very appealing. TeamCox Realtors urges you to take advantage of the current Denver housing market’s idyllic situation – a buyer’s market coupled with falling interest rates.
Are you ready to search for your dream home? Please contact TeamCox Realtors for information on buying a home in the Denver real estate market.
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Denver Real Estate Update (November 2007)
The Denver Housing Market was a Little Spooky in October!
Similar to the Halloween decor that adorned our homes last month, the Denver real estate market was a bit spooky during the month of October.
According to a recent article in The Denver Post, prices and sales of existing homes declined in October from September and from October of 2006. The numbers aren’t pretty – sales of existing homes were down almost six percent from October of 2006 and the median single-family home price dropped 5.4 percent to $234, 200 from October of 2006.
The Denver condo market didn’t fare much better. According to The Denver Post, the median price of Denver condos decreased 6.7 percent in price to $140,000. However, the Rocky Mountain News reported that condo sales shot up over ten percent from October of 2006.
Is there a bright side to all of this? Many experts agree that October shaped up to be a better month than expected The Rocky Mountain News reported that there was a 7.3 percent increase of homes placed under contract from September to October, which is only a small (1.5 percent) decrease from the number of homes that were placed under contract in October of 2006.
In addition, the Denver real estate market hasn’t seen the more dramatic decreases that other areas across the country have experienced.
This picture could not be rosier for potential Denver homebuyers. Don’t miss your chance to be in the driver’s seat. For more information on the Denver housing market, please contact TeamCox Realtors. We constantly monitor the ever-changing conditions of the Denver real estate market and would be more than happy to share our insight with you.
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How To Get Started With Buying Your First Denver Home
TeamCox Realtors is Happy to Assist First-Time Homebuyers!
Sara’s first concern was how much money would they need? Ideally, the more they have available for a down payment, the better their interest rate will be. I explained to her, that new loans are currently running the gamut of 0% down to 20% and everything in between. I am an advocate of more is better and that ideally there will be enough left over to cover two or three months of living expenses. That gives you a big chunk of personal equity in your purchase as well as the most favorable rate available from the lender. For many first-time buyers, including Sara and Mitch, with good credit history, lenders are willing to finance between 95 – 100 percent of the loan. In an increasing housing market, equity can be established within a few years of home ownership. The problem with this thinking is that in recent years markets in many parts of the country are no longer appreciating. If in fact, the housing market is declining so this type of financing can become very unnerving. An alternative for Sara and Mitch, who are first-time buyers with excellent credit, is be to pursue CHFA financing. CHFA, the Colorado Housing and Finance Authority, provides low interest mortgages to qualifying buyers. The next step for Sara and Mitch is to meet with the lender we have referred them to for details on a loan that will work best for them. That will be followed with a consultation in our office and soon, the process of hunting for their first home will begin in earnest. ……….ah, the joy of anticipation! If you would like information on buying your first home in Denver or any other aspects of the Denver real estate market, call a TeamCox member today at 303-400-6060. We will have the answers to all of your questions.
A soon-to-be first-time homebuyer just called to discuss how they can go about buying their first home. First time homebuyers are a true joy to work with. Usually, as is the case with this caller, they cannot wait to get out of their apartment and buy their first home. They see their new home as a place where they can have a small yard for the dog they don’t yet own. She specified a good school district for the child they also don’t have yet. This is the kind of anticipation of wonderful things to come that makes the first-time buyer such fun to work with.
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Denver Area Community Spotlight – Pradera (Parker, Colorado)
Natural Beauty and Mountain Vistas Make Pradera a Natural Choice for Homebuyers!
Many Denver area homebuyers, inlcuding those relocating to Colorado, are attracted to the top-notch quality of life, natural beauty and to the coveted schools in Douglas County, Colorado. Pradera, a popular community located in Parker, Colorado, has all of this so it is a natural choice for homebuyers looking for homes on larger homesites that range in price from around the half million-dollar mark to over two million.
Pradera, the site of the 2005 Parade of Homes, is an impressive golf course community that showcases the best of Colorado with its natural beauty, miles of open space, mountain vistas and architecturally stunning homes. Since construction at Pradera has been in full swing over the past few years, many resale and newly built homes are available to Pradera homebuyers. Golden Design Group and Joyce Homes are among the homebuilders at Pradera in addition to sixteen exclusive custom homebuilders.
Although Pradera has a Parker mailing address, it is nestled right in between Castle Rock and Parker and is easily accessible from both I-25 in Castle Rock and Parker Road. Because its location, Pradera residents are able to enjoy the sought-after recreational opportunities and conveniences of both the Parker and Castle Rock areas. The community is also within the boundaries of the first-rate Douglas Country schools of Mountain View Elementary, Northeast Elementary, Sagewood Middle School and Ponderosa High School.
For more information on Pradera real estate, please contact TeamCox Realtors. TeamCox Realtors is here to assist you find a community that is perfect for you!
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Search the Denver MLS with TeamCox Realtors
TeamCox Offers a Top-Notch Denver MLS Search Tool with Google Mapping Technology
Are you looking for a new home in the Denver metro area? TeamCox Realtors is proud to offer one of the best MLS search tools in the Denver real estate market. Since we recognize that every homebuyer has unique needs, we are committed to providing Denver homebuyers with the best tools available to find their perfect new home. After countless hours of research, we choose our Denver MLS search provider based on its extensive features and capabilities. The site also has the cutting-edge Google mapping technology. Here are just a few of the unique features that you will find with TeamCox Realtors’ Denver MLS search tool:
To search the Denver MLS, please click here. With our innovative IDX software, buyers can do so much more than with many more basic websites. Good luck with your home search and don’t hesitate to contact TeamCox Realtors if we can help in any way.
Denver’s Smaller Lot is Not a New Trend!
Making the most of a small Denver yard
A recent article in the Denver Post prompted me to think about the perceived trend of smaller lots in Denver neighborhoods. The small Denver yard is nothing new since lots in central Denver neighborhoods have always tended to be "shoe-box size.”
While many new homebuyers feel that they are facing a dilemma of shrinking lot size, this is certainly nothing new to our area. It is true that in recent years Denver homes have been getting larger and most lot sizes have been getting smaller. It is reported that residential lots shrank approximately 6.5% between 1990 and 2006.
As metro Denver land values rise, local builders are forced to divide land into marginally smaller lots as they concentrate on their bottom lines. While this may seem like a disadvantage to some Denver homebuyers, a small lot offers some distinct advantages including less water consumption that results in lower water bills and more water conservation.
If your goal is a private back yard retreat or a romantic spot for dining al fresco, here are some tips for creative landscape design:
No straight lines. Your plan should steer away from straight lines and right angles. To please the eye, use curved paths and beds that lead the eye around the yard. This produces a natural feel that creates the perception of a larger space. A straight, narrow walkway winding through a small yard will only tend to accentuate the yard’s smallness. On the other hand, curving stepping stones meandering through the same space will fool the eye and the yard appear larger than it actually is.
Eye trickery. Size and color are fool the eye at times. Dark colored vines or a dark colored wall will make the back fence appear further away than if the wall or fence is painted white or some other light color. The eye’s perspective changes. This same effect can be achieved by placing large, lighter items at the front of the yard and smaller, darker items in the rear.
Trees are essential. We often advise our metro Denver new homebuyers that trees will yield the biggest return on their landscape investment. With proper care and watering, trees planted during the first year of homeownership will yield a substantial return after five years. This is especially true when the home is in on the market competing with other homes in the same age category without trees. A well-planned yard with trees will always give the home seller a huge marketing edge.
Trees in the west are almost sacred but they can be found. Which trees are right for the smaller Denver yard? Choose trees that canopy over your smaller yard and that have narrow trunks. Good examples of these would be purple leaf plums, Japanese maple, fichus and Russian olive. These well-selected trees not only will give the beauty and privacy desired with a small yard but the shade will be a relief during Denver’s warm summer months.