Denver, CO

Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver, Colorado

02-10-10

Daniel Polimino: Real Estate Agent in Greenwood Village, CO

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Office: (303) 893-3200

Mobile: (303) 522-1161

Fuller Sotheby’s agent Dan Polimino talks about this weeks market update for Denver, Colorado for the week of Feb 8th, 2010. Dan explains why this is starting to look more like a sellers market in some price ranges than a buyers market.

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FHA Kiddie Condo Home Loans in Denver Colorado

02-09-10

RJ Baxter

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Office: (303) 670-0137

FHA Kiddie Condo Home Loans in Denver Colorado

Help your kids buy a home with the FHA Kiddie Condo Home Loans!

If you are a parent who would like to help your kids get a great jump-start in life, FHA Kiddie Condo Home Loans can help.

Highlights of FHA Kiddie Condo Home Loans:

Non-occupying co-signer (blood relative) allowed.
Co-signer's income and assets used in qualification.
Same low rates as any other FHA Home Loan program

This type of financing allows a parent or other blood-relative to co-sign for their children to help them purchase a home. The nice thing is that the co-signer doesn't have to be a parent and the buyer doesn't have to be their child. As long as it's a blood relative co-signing for the other blood relative, the FHA Kiddie Condo Home Loan can help.

College The co-signers full income and assets as well as credit will be used to help the primary buyer qualify. With conventional financing, non-occupying co-signers cannot be used, so FHA Kiddie Condo Homes Loans are one of the last remaining programs that allow a co-signer. However, it is important to know that the co-signer's credit cannot overcome credit problems with the primary buyer- the lower of the all of the borrower's credit scores will be used for qualifying.

The nice thing too is that the type of home purchased doesn't have to be a condo. You can utilize FHA Kiddie Condo Home Loansfor the purchase of a detached single-family home, a townhouse, or even a four-plex!

Interest rates are low on FHA Kiddie Condo Home Loans right now, and a variety of loan terms are available.

We strive to provide the best service in the industry and honest, professional financing advice for your FHA Kiddie Condo Home Loan program.

Read our client testimonials!

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Cherry Creek Neighborhood | Denver Colorado

02-08-10

Jane Wallace CRS, Denver Real Estate

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Mobile: (303) 912-5877

Framed by Colorado Boulevard and University Avenue on the north and south respectively, and 6th Avenue and Exposition on the east and west. Cherry Creek has a walk score of 90.

Map of Cherry Creek

Denver's premier shopping enclave for several decades, Cherry Creek is the place to live, work, shop, and play. This neighborhood, once known as Harmon, for George Harmon who owned the 320-acre farm that originally occupied the site, offers the ultimate urban lifestyle in a lovely central location where quiet, tree-shaded streets, pocket parks, and trails beckon you to walk, jog, or bike, and nearby thoroughfares whisk you to all points of the metro area in mere minutes.

Among the neighborhood's attractions are the renowned Cherry Creek Mall, one of Denver's leading tourist attractions; is the best, most well kept shopping center and has the highest saturation of top-notch stores: Hermes, Saks Fifth Avenue, Louis Vuitton and Tiffany & Co. among others. Along with bistros, gourmet restaurants, coffee houses, boutiques, spas, salons, bookstores and gallery's.

Cheery Creek Townhome

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A Market Segment to Exploit

02-08-10

Todd Groth

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Office: (303) 302-2287

Mobile: (720) 203-9624

Recent statistics have come out from Land Title Guarantee, the title company we, at Bev Groth Properties use for all of our closings. They compare 8 of the major sections of the Denver area MLS. This latest report included 4th quarter 2009 compared to 4th quarter 2008 on "Avg Days on the Market" and "Avg Sales Price".

One area stands out....the Southwest part of Denver which typically less expensive but has some nice neighborhoods within a short commute to downtown and easy access to the mountains. Southwest Denver actually showed a modest increase in average sales price ($140,000 or so), and a reduction in average days on the market.

The bottom line is that this area may have some upside as there is more demand for homes under $200K and new light rail lines improve the ability for commuters to get into the city. First time home buyers and investors might like what they see in some of these neighborhoods. Harvey Park, Ruby Hill and Gunnison Heights are ones I have been keeping my eye on.

For more information contact Todd Groth at 720.203.9624, or look us up at www.BevGrothProperties.com

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Interest Rates May Be The Best Reason To Buy. By Dan Polimino.

02-08-10

Daniel Polimino

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Office: (303) 893-3200

Mobile: (303) 522-1161

As realtors, we are always telling people why “today or now is a good time to buy” and many times we have good reason for that. The prices are down and there are a number of foreclosures available, buyer incentives, etc, etc. Maybe the best reason of all right now to buy is the interest rate.

I know mortgage lenders are always talking about this and advertising this, but we hear it so much that we forget to pay attention to it. If you really stop and think about it, interest rates may be the biggest influence on whether we can buy or not. Let’s face it, the vast majority of the population buy based on what they can afford in a monthly mortgage payment. Nothing affects that more or greater than the interest rate. Let’s take a look at a snap shot of a few figures to see the real impact when interest rates rise and what that does to your monthly payments.

According to Metrolist, at the end of 2009 the average price for a single family home was $281K. For this example, let’s call it an even $280,000 and let’s also base all of our calculations on a 30-year-fixed. We’ll take a look at a 5% loan, a 6%, and a 7%. We are also all in agreement that it’s unlikely that interest rates will go lower and the reality is that they are only going high from here.

a. $280,000 at 5% = 1,503 P&I

b. $280,000 at 6% = 1,678 P&I

c. $280,000 at 7% = 1,862 P&I

Just the jump from 5% to 6% almost added $200 a month to your payment and we still haven’t added in taxes and insurance yet. If you have to add mortgage insurance, you could be easily looking at $2000 a month. It adds up quickly and that’s why interest rate is such an important factor. It’s also the main reason why I tell people who are on the fence about buying now or waiting not to wait any longer.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost

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