Andrew Cepeda

Have you heard? Because of the recent disasters in the US economy and in the number of rising foreclosures, the US Government is attempting to eliminate personal property rights for American citizens. This is absolutely an abomination of what makes America great: the ability to own your home and property in general.

Basically HR 1728 is trying to instill some uniformity in mortgage lending and to establish more consumer protection. However, what it really does is eliminate homeowner ability to control the way the want to sell their home. If this bill is passed, it could do the following things:

1. Make owner carry financing, wrap around mortages, and private money lending illegal.

2. Require that homeowners become licensed real estate agents and mortgage brokers to sell their own home

3. The Government can take your home if you are in default or at RISK of default.

4. Extremely strict and rigid rules and regulations of every real estate transaction.

I havent even begun to scratch the surface of all the negative impacts of this bill. I won't write too many things about it because it would turn into an entire 15 page essay. All I can say is that I am afraid, very afraid of what could happen if this bill passes. What is also scary is that the bill already passed in the House in a record 3 days! What is the true agenda of this bill if Congress is so eager to pass it in 3 days?? My thoughts are certainly not the personal property rights of US citizens, otherwise they would have taken a bit more time and care in the contents of the bill.

I urge you to contact your US Senator and tell them to vote NO on HR 1728. Our property rights depend on it!

Please check out these links for more information on HR 1728

Mortgage Reform and Anti-Predatory Lending Act

U.S. Senate Seizing Control of Real Estate Investing

Is Real Estate Investing Over?

It’s time to take another look at how the Denver market is doing month to month. I have kept hearing that Denver is no longer a buyer market – there are at least 3-4 offers on a property, some higher than asking price. Headed for the turnaround!

Residential (excluding condos)

There were 15,669 Active listings in the MLS (Multiple Listing Service) for the month of May 2009. That number is up 0.19% from April ‘09, yet down -22.76% from a year ago – May ’08.

4,301 went Under Contract, which is up 3.56% from April ‘09, yet still down -15.93% from a year ago – May ’08.

There were 2,857 Sold properties. That number is up 5.58% from April ‘09, yet down -23.14% from a year ago.

What does this all mean? It means that more properties are being put on the market, are going under contract, and are selling in the first part of 2009, yet overall market activity is still down from this time in 2008.

The Avg DOM (average number of Days on the Market) was 104 days. This number is slightly up 1.96% from April ’09 and up 5.05% from a year ago. This means that properties are spending a bit more time sitting on the market. On average it is taking nearly 4 months, from initial listing to Under Contract status.

Finally, the Avg Sold Price was $262,066, which is an increase of 3% from a month ago in April ’09, yet is down -5.18% from a year ago. Prices are indeed increasing in 2009 yet the recovery is still on its way!

Keep in mind this is for the entire Denver Metro Area. If you would like more information about a specific neighborhood, please contact me by email with the area you are interested in! Thanks!

All data was compiled from Metrolist, Inc on June 16, 2009

Andrew Cepeda

Realtor® and EcoBroker®

Metro Premiere Properties

720.216.7617

andrewcepeda@gmail.com

It’s time to take another look at how the Denver market is doing month to month. Summer is well on its way; the trees and plants are green with new leaves, the sun is warming everything up, and it is light outside until at least 8:30pm! Here comes buying season!

Residential (excluding condos)

There were 15,639 Active listings in the MLS (Multiple Listing Service) for the month of April 2009. That number is up 0.35% from March ‘09, yet down -22.02% from a year ago – April ’08.

4,153 were Under Contract, which is up 6.30% from March ‘09, yet down -18.05% down from a year ago – April ’08.

There were 2,706 Sold properties. That number is up 4.48% from March ‘09, yet still down -19.30% from a year ago.

What does this all mean? It means that more properties are being put on the market, are going under contract, and are selling from March ’09, yet overall market activity is still down from this time in 2008.

The Avg DOM (average number of Days on the Market) was 102 days. This number is down -3.77% from March ’09 and -0.97% from a year ago. This means that properties are spending less time sitting on the market. This also means that on average, it is taking nearly 4 months, from initial listing to Under Contract status.

Finally, the Avg Sold Price was $254,442, which is an increase of 1.14% from a month ago in March ’09, yet is down -4.80% from a year ago. Prices are slowly climbing in early 2009 but the recovery is still on its way!

Keep in mind this is for the entire Denver Metro Area. If you would like more information about a specific neighborhood, please contact me by email with the area you are interested in! Thanks!

All data was compiled from Metrolist, Inc on May 16, 2009

Andrew Cepeda

Realtor® and EcoBroker®

Metro Premiere Properties

720.216.7617

andrewcepeda@gmail.com

It has been a little while since I wrote my last blog. Since the March 2009 Denver Metro Area Market Intelligence has been released by Metrolist. I saw it as a great opportunity to keep you all informed as to how things are going in this market. The numbers tell the truth!

Here is an overall snapshot of what happened in the residential real estate market in March 2009 in the Denver Metro area:

Residential (excluding condos)

There were 15,584 Active listings in the MLS (Multiple Listing Service) for the month of March 2009. That number is up 2.34% from February ‘09, yet down -20.12% from a year ago – March ’08.

3,907 were Under Contract, which is up 16.56% from February ‘09, yet down -17.75% down from a year ago – March ’08.

There were 2,590 Sold properties. That number is up 28.98% from February ‘09, yet still down -12.23% from a year ago.

What does this all mean? It means that more and more properties are being put on the market, are going under contract, and are selling from February ’09, yet market activity is still down overall from this time in 2008.

The Avg DOM (average number of Days on the Market) was 106 days. This number is down -0.93% from February ’09 and -2.75% from a year ago. This means that properties are spending less time sitting on the market. This also means that on average, it is taking nearly 4 months, from initial listing to Under Contract status.

Finally, the Avg Sold Price was $251,583, which is an increase of 6.19% from a month ago in February ’09, yet is down -8.41% from a year ago. It seems that the market is still losing value. We may not be at the bottom yet!

Keep in mind this is for the entire Denver Metro Area. If you would like more information about a specific neighborhood, please contact me by email with the area you are interested in! Thanks!

All data was compiled from Metrolist, Inc on April 9, 2009

Andrew Cepeda

Realtor® and EcoBroker®

720.216.7617

andrewcepeda@gmail.com

Looking for a loan to help you live green? FHA offers a loan for owner occupied dwellings that allows borrower to qualify for extra capital to make improvements on the home. Its called the FHA 203(k) Rehabilitation loan. These loans make excellent ‘green’ loans, meaning a homebuyer may use the FHA 203(k) to fund energy efficiency improvements and to purchase sustainable and eco-friendly products for the home. Initially the borrower will carry a higher loan amount and have higher monthly payments, yet they save more money monthly on their utility bills. Buyers can also qualify for any available rebates and tax deductions and may even choose to achieve certification for compliance with either Energy Star or LEED. The loan allows for 1-4 unit buildings which makes it great for investors who are looking to purchase a duplex or 4 plex, live in one unit and rent the other three.

Borrowers who are interested in the FHA 203(k) must have an energy inspection done on the property they are looking to buy. The energy inspection, or audit, will determine the efficiencies and inefficiencies of the home and will influence the amount the borrower may qualify for. This can be done for about $450 in the Denver area. In most cases, the buyer will need to have two energy inspections on the home; one to determine the areas of improvement and two after the repairs to see how much the property has been improved.

The FHA 203(k) comes in a Streamline version, which allows up to $35,000 for rehabilitation of the home. The borrower is limited to 3 contractors, and must be doing at least $5,000 in repairs. This streamline version of the 203(k) allows for a possible single energy audit on the home; the borrower would receive half of the cost of repairs up front and half when the work is done.

Highlights of the 203(k) Streamline:
Finance up to additional $35,000 for energy improvements
Loan amount based on appraisal value after repairs resulting in extra capital for improvements
Requires 3% down
Interest rate .25-1% higher than normal loan
May be used for owner occupied 1-4 unit residences
Requires at least $5,000 in improvements
Allows up to 3 contractors

The focus of using these loans to make the home energy efficient and sustainable is that the new owner will benefit from lower monthly utility bills and live a more comfortable, healthy, and happy life. There is value in reducing your impact on the environment. Use this federally backed loan to improve your home and restore our neighborhoods and our planet.


Andrew Cepeda is an Ecobroker in the Littleton, Centennial, CO area.
If you would like to talk, please contact me at 720.216.7617 or email me at andrewcepeda@gmail.com