We had a walkin last week cash buyer etc. etc. He had the most elaborate line of BS I have ever come across. He worked us with his sick wife and twin daughters, needed to purchase and close in 12 days, had the money and was ready to look for a house. Lost his wallet went to police to get paper work for a new one also the bank to cancell credit cards and order new ones. Really really good, we lent him a 100 bucks to get gas to talk his recovering girls to a friends in another city. Anyway to make a 7 day story short he was after account numbers from a wire transfer or money order to clean out our accounts. We caught him in the middle and he is long gone. You would not believe the rest of the story. Just be carefull if someone comes into your office with sad stories and needs gas money.
We have been seeing quite a bit of activity at our RE/MAX office here in Montrose. It seems as though more people are seeing the potential to get a great deal on property, the 8000 dollar incentives have helped but we are seeing people step up with all the price reductions that are not 1st time home buyers as well (although this activity is not a mad dash, hopefully a slight turn upward). Really hard time for sellers.
What is the real driving force behind the national uptick in home sales?
I feel that this move upward is somewhat of a smokescreen as to economic recovery and more of an indication of investors swooping in on some great buys.
The proof of the pudding is in home starts and a rise in employment numbers as contractors are hiring and getting new housing starts.
We have been experiencing some interesting situations with lenders. This has been in both the underwriting and closings.
In one instance we had a buyer with a credit score of 800+ 10% down and solid employment, they almost denied the loan and really were unfair with the buyer in requiring more and more documentation on her credit worthyness. To say the least we were not impressed with this lender. We had a Jumbo loan in December that was even more interesting, they also were over 800 credit score, 6 figure income and 30% down. It was held up in underwriting and also picked over by 2 additional sets of eyes.
I can understand the scruitny over loans considering what has happened in the past but I think we have gotten to the other extreme.
There are buyers out there, I just hope they will have the ability to purchase when they meet the requirments.
Anyone else enjoying these situations?
Have you heard about the new Greg Norman golf course development in Montrose & Ouray Counties?
The full 18 holes will be open in July and there are some custom homes as well as the unique "Foursome Cabins. There are several different types of offerings that include the large Estate lots as well as the Ranch lots.
The facilities are incredible!! The recreational options include not just a fabulous golf course but also many opportunities for total enjoyment of the most beautiful part of Colorado. This is a 5 star resort and member pampering is the mantra. This resort community is the ultimate destination for family vacations or year round living. Sking is close by at the world class Telluride ski area and is included as part of the membership amenities in the Mountain Village "Mountain Club".
Over the next several weeks I will be blogging articles about this prime Colorado gated golf community. I will be touching on the lifestyle, facilities, and surrounding areas and in general giving you a picture of what is happening in the Southwestern part of Colorado.
Not only has the Greg Norman golf course design company come to the area but also the Jack Nicholas design group as they are also developing a gated golf course facility and development called Hideout Lake. It is truly a great time to be in Montrose and the surrounding areas.
Golf in southwest Colorado has become a great attraction to this area and adds to the already abundant recreational opportunities in the area. We have had a long winter but our local Golf courses are open or opening soon and play is starting.
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