Joan Rogliano

Denver is currently undergoing one of the greatest zoning transformations ever and is expected to be introduced next year. This is bound to have an impact on property owners; what the specific impact will be is unclear.

Some proposed changes include an increase in the number of zone districts, from around 30 to 96. Some areas will also impose height restrictions, eliminating third stories or roof decks. However, what the changes will be exactly is still not clear.

Sprocket Design-Build, a Denver based company, is offering a free assessment on property zoning and an explanation of how your property could be impacted. For the free property assessment opinion send an email to zoning@sprocketdb.com.

Sprocket will look up your current zoning and then determine how it is slated to change under the new zoning laws. This is particularly helpful if you're interested in doing a remodel or scrape and are concerned that your plans will no longer be allowed under the proposed zoning laws.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Based on article from insiderealestatenews.com by John Rebchook.

Fall is officially here!
Georgetown is hosting their 3rd Annual Aspen Festival this weekend. The festival takes place Saturday October 3 from 10 am to Dusk and Sunday October 4th from 10 am to 5pm. It's a great opportunity to see the Aspen leaves change, hear live music, browse crafts and eat great food.
If you have extra time, head over to the Pumpkin Festival at Georgetown Loop! Where you can take a train ride through the Mountains and see the trees up close. There will also be a hay maze and more fun activities. The Pumpkin Festival at the Georgetown Loop will be taking place the first two weekends in October.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

New FHA Commissioner, David Stevens, announced the agency will be changing their appraisal rules and also including a 10% reduction in the amount senior home owners can receive from the reverse mortgage program. The latter is a discussion for another day.

The new guidelines, which will be instituted January 1, adopt some of Fannie Mae and Freddie Mac's "home valuation code of conduct" (HVCC). They also stipulate that FHA will not accept appraisals ordered by mortgage brokers, lenders, or anyone compensated on a commission tied to the completion of the loan. FHA regulations do differ from Fannie and Freddie, in that FHA wants appraisers to be paid fairly and in full.

Surprisingly, the Commissioner states that appraisers can disclose the amount of their fees, making this information available to the buyers and sellers in the appraisal report. This goes against traditional practice, where it is typically forbidden for appraisers to reveal their compensation.

An informative move for the consumer, as on average they are charged $400, when the appraiser, who works for the management company receives only $175-$200. This will increase consumer awareness of the many appraisers who have been driven out of business by these new regulations involving management companies.

Along with the disclosure fees, Stevens is thankfully mandating what he refers to as "geographic competency". This requires appraisers have a familiarity with the local markets and access to data relevant to the home's sale.

Geographic competency is imperative and a welcome addition to the new rules. Recently I received an offer on a property and the appraisal came in below the contract price. It was revealed the appraiser was not familiar with the area, and in fact resided and worked many hours away.

Does anyone else have a similar tale to tell?