Chris Vinci, Owner, CRS, CLHMS, CMAS

I'd like to know when it became OK to discriminate against Buyers who use an FHA 3.5% down payment loan program. I recently submitted an offer for a newly engaged couple who had amazing credit, substantial savings, and enough liquidity to put 20% down. They chose a foreclosed home that was owned by Freddie Mac. A great home that was move-in ready. They made a strategic decision to take advantage of an FHA program that allowed for 3.5% down. They were going to invest the remaining 16.5% in updating the property to ensure they will earn a substantial gain on their investment.

We were in a competing offer situation. My clients put in a full price offer and waived their Inspection condition. I was told our offer was not successful. It was implied by the Seller's agent that our offer needed to show a "stronger commitment" on the part of the Buyers. EXCUSE ME!!!!

The Seller actually felt my client's offer was not strong enough at full price and no inspection condition???? It is my opinion that Sellers feel anyone who is not bringing 20% down is a weak Buyer. I'm sorry....since when did the value of money change based on where and how it came to be? $400,000 is $400,000 whether it's cash, a Conventional Loan, VA Loan, or FHA loan.

I believe there can be a case made that a Seller who discards a Buyer because they made a choice to use an FHA loan is border line discrimination. I'd like Freddie Mac to tell my client, who is an Active 20yr Navy soldier and his Fiance who is a consultant for the Dept of Defense, that they aren't committed to buy their dream home because their choice to use FHA (which comprises nearly 40% of all purchase loans in 2009) is weak.

Where has this market implosion taken us????

I am very excited about the revamped tax credit for first time homebuyers that was included in Obama's recovery package. Now that it doesn't need to be paid back to the government, which I thought was ridiculous, I believe more consumers will take the plunge and buy their first home. Being able to reduce your tax liability by up to $8,000 is a huge benefit. Given it's the lessor of 10% of the purchase price or $8,000, I'm pretty confident I'll be able to find buyers homes in my market for over $80,000. My Evergreen market is one of the top areas in the entire Denver Metrolist market for average price ($575,000). Shouldn't be a problem helping my clients get the full tax credit.

Think positive and good things will follow.

Because Evergreen & Genesee(Golden) is known for having some amazing Million Dollar properties, I wanted to share with you all how that segment finished the year. Traditionally, homes priced above a Million are going to take a little bit longer to sell up here. The Buyer pool is smaller than most places and those that can afford a luxury home have a more critical wish list. Simply being in a prestigious neighborhood, i.e. Soda Creek or Hiwan in the Evergreen area, does not necessarily mean a Buyer will settle for quirks. Many times it takes a soft consultation to give mountain Buyers a comfort level that will result in a purchase. As a Certified Luxury Home Marketing Specialist, I am able to listen to my client's needs and offer constructive advice so they feel comfortable.

That being said, below is a breakdown of our Million Dollar market in the Foothills. If you have questions, please don't hesitate to call.

2008 is behind us. It wasn't all bad in our Foothills community. Located 30 minutes West of Denver is Evergreen, Genesee, Conifer, Morrison, Pine, Bailey. Mountain living is unique to many. Coming from this ex-California boy, it's pretty easy...as long as you have the right tools (snow tires, all wheel drive, and a snow blower).

Living here for 5 years now, I can say that I'm a veteran Winter dweller. That being said, our housing market has seen it's bumps and bruises. More and more buyers are extremely picky and the littlest things are now causing some buyers to simply wait until the next round of homes that come on the market. Unlike the flat lands of the Denver Metro area, buyers in the Foothills are concerned about access, dirt v. paved roads, county maintained roads v. private, public services v. septic - wells - propane tanks, steepness of yards, how the home faces the sun. I can confidentally help my clients understand each element and give them my perspective as an implant to mountain living. They appreciate that.

The following stats are available on my website. We saw the popular North Evergreen area take a big hit last year. The Median home price dumped 13% over 2007. Whereas South Evergreen only saw a slight drop of 1.3%. The good news is that days on the market dropped for both areas of Evergreen. The Highway 285 Corridor including Morrison, Conifer and Pine saw a drop in Median prices by nearly 8%. The bright spot came from the Interstate 70 Corridor area known as Genesee/Lookout Mountain in Golden. Median home prices actually increased 1.6% from 2007.

I'm seeing good homes, with proper pricing going pretty quick still. The average days on the market for active homes is hovering around the 200 day mark. That's primarily because there isn't much coming on the market and what's already there has some quirks that buyers are not settling for.

Being somewhat of a resort town that is close to Denver and the ski country, I believe our market will stay pretty steady in 2009. Buyers are more aggressive but as long as Sellers are pricing correctly and enhancing their homes to meet with today's buyer needs, they should sell in a reasonable amount of time.

Enjoy reviewing these stats and if you have questions, don't hesitate to contact me.

So I saw this news report on ABC this past Tuesday and I was pleased. The national media has been affecting our market in Colorado by scaring the daylights out of folks. I've been saying for the past year, the areas that are in recession are just catching up to what we've been experiencing the past 4 years. The news that shows Colorado as 1 of 7 states expanding and not in recession should encourage all those Buyers and Sellers within our fine state and those looking to relocate to Colorado.