US News and World Report analyzed 100 of the most populous cities in America and determined Denver to be the #1 Best Place to Live!
So this is news? Of course we all who live here already know this!
Denver won based on high scores in Desirability, Value, Job Market, Quality of Live and Net Migration. As I've said for years,
People WANT to live in Denver!
Which cities came in next?
This report talks about the process of moving and offers advice. The best part of the report is that I am quoted! Yeah! Here's the link if you care to check it out!
Buyers and brokers alike are finding the Denver real estate market very challenging right now. Why? There is a shortage of homes for sale and a surplus of buyers. The buyers are anxious to get out of paying the outrageous rental rates and truly want to own a home of their own.
Home sellers are enjoying being in the driver's seat right now. They are listing with a broker and finding their home appealing to more than one buyer. Often there are multiple buyers creating a bidding war that most buyers prefer to avoid.
The image above is something I just grabbed from our MLS, REColorado. It is a graph of the market activity over the past 7-days in Denver. As you can see the Under Contract column far exceeds the New Listing column. It's no wonder buyers are struggling to find a home!
What kind of HOPE can the Denver Real Estate Market offer a buyer?
Buyer's take a step to the other side of the transaction. Think like a seller. As a seller what sort of offer would you most like to accept?
All these suggestions might seem silly because anyone with common sense would be performing them properly. So not true!
As a buyer in today's market it is possible to purchase a home. One must be ready, flexible and have the patience and you will find a home.
Enjoy luxury mountain living in this outstanding custom home with unobstructed views from every window! Located close-in (20-minute drive to Morrison or 7 minutes to Evergreen) this home is on city water/sewer so there are no hassles with a well! The HOA maintains the paved roads in winter so you have all the convenences of living in the city while living in the mountains!
The home features log accents on the front porch and entry, with lovely wood flooring throughout the main level. The main floor has an open floor plan with kitchen, eating space, gas fireplace with log mantel, large deck with views of Mt. Evans (the mountain with the highest paved road in North America!). If you are looking for flexiblity this home has it, the owners are currently using the main floor study/den as a formal dining room and the dining room is a music room with a baby grand!
The master suite is delightfully large! You will enjoy mornings here in the sitting room with a coffee/wet bar, cabinets and yet another gas fireplace. Open the door to the upstairs deck to breathe in the fresh mountain air and peak at the mountains before you begin the day.
There are two other bedrooms upstairs as well as a bonus room. The bonus room offers even more flexiblity. Currently it is used as an office for 2 at home workers, it is convenient yet can be closed off when the day it done. There is plenty of room for 2 large desk with returns, plus a couch and filing cabinets!
The walk-out basement will delight the movie goer in you. There is a Theater room designed for comfort and watching movies in style. 8- recliners stacked on 2-levels will ensure your viewing pleasure no matter where you sit. All the equipment for the theater conveys with the home; projector, speakers, control, DVD player, Roku (to download movies) and the big screen.
The walk-out basement offers great light to the 4th bedroom with walk-in closet, large family room, kitchenette with refrigerator, dishwasher, built-in wine rack and 3 (yes 3!) storage areas. Two of the storage areas have sturdy built-in shelving because we never have too much storage area!
All handymen (and women!) will enjoy the garage! Beginning with the easy to clean composite floor, to the wall-lined pegboard for efficient storage, the workshop with very nice cabinets and a stool, ending with the custom created attic for storage there's not much else you and want for here!
The interior has is CAT-5 wiring throughout the home. There are 6-panel raised wood doors and wood trim throughout. The yard is professionally landscaped, partial sprinkler system (where there is sod) and a delightful water feature adjacent to the charming front porch.
The owners are the original owners who have meticulously cared for this home making it a delightful find for the buyer who wants a quality, well-cared for, close-in mountain home on city water with outstanding VIEWS!
Additional features are listed on a separate feature sheet as well as a floor plan drawing can be emailed to you. Or you may download it from the following links:
Please call your agent or Kristal Kraft (303-589-2022) for a showing of this home.$2>$2>
The Berkshire Group
Licensed In: Colorado
License #: 264061
It wasn't very long ago that low down payments were a thing of the past, or so we thought. Well as the pendulum swings here were are again! Banks have decided they are in the business of lending money's and well I guess they are right!
Bank of America announced to today a new program that requires only 3% down for a mortgage with a FICO credit score of 660. The best part is they aren't requiring private mortgage insurance which typically goes along with any mortgage financing that isn't 20% down or more! (Here's the Bank of America article on Housing Wire)
FHA makes you pay and pay and pay...
By comparison the only product low down payment options is the Government backed FHA loans which allow a low down of 3.5% but requires an additional MIP (Mortgage Insurance Premium) which is much like private mortgage insurance, but these loans have a LIFETIME requirement of paying that MIP. Once upon a time FHA mortgage holders could get rid of their MIP once they acquired equity in their home of at least 20%, but those days are gone.
The other big difference with FHA is the possibility of borrowers to get an FHA loan with a much lower FICO credit score.
In a nutshell, FHA Loans cost more. Only buyers who have a low credit score should get an FHA loan. But do so with a plan! Take the loan, improve your score then refinance into a Conventional loan where you aren't paying MIP for the term of the loan!
If you are a borrower, you may be thinking it is wise to have insurance on a home for the lifetime of the loan. Well that is true if you are talking homeowner's insurance as in hazard insurance. Homeowner/hazard insurance is NOT the same as Mortgage Insurance (MIP/PMI). Mortgage Insurance Premium and Private Mortgage Insurance only insure the bank against your default. That means YOU get to PAY for the MIP/PMI on the banks behalf.
The only way you benefit from paying MIP/PMI is if you need a home and cannot come up with the 20% down or you have a low FICO Credit score (minimum of 640 to 660), then a FHA loan will be the answer to your prayers.
On the other hand if your FICO score is above 660 and you have a 5% downpayment, a Conventional loan will save you money over the long run.
Give me a call. I can provide you with lender contacts who know how to counsel you and help you save money in your home purchase. The financial industry has an vast assortment of home loan options, some are better than others. It helps to have a knowledgable professional assist you in finding the right option for you.
November sales statistics for Metro Denver real estate indicate how low the inventory is in Metro Denver. We aren't selling as many homes in the lower price ranges, because there aren't enough to sell!
Note how the $300,000 - $499,999 price range is on fire! There are a greater number of homes for sale in the higher price range, so more are selling.
If you are a homeowner looking to sell your home, this is really good news! The simple rules of "supply and demand" put you in the driver's seat!
If you are looking to sell your home now or in the future, call me. Let's talk about your home's value and how you can get the most out of your equity. I welcome your call.
It is a sad story, the owner who was an elderly man went to visit his daughter in Texas for the Thanksgiving holiday. He got sick and had to go to the hospital, He passed away. This daughter was so distraught she couldn't deal with the property. So it just stood there.
Years later the daughter became ill and she too passed away, without a will. The house stood vacant still.
The local newspaper did an article about vacant homes in Denver. The article attracted an unscrupulous person who forged a handwritten will, claiming rights to the property. She even fooled a judge into giving her a PR letter. It was through this person I became involved. She called me to sell it.
I won't go into the details because I prefer not to educate another crook. Bottom line we soon discovered the discrepancy in her story. I immediately ended my agency with her.
That was nearly two years ago. Since then I have connected with the rightful heir who has been working diligently to clear the title of the property so he can sell the estate.
The home is located on a million dollar plus street in a very desirable Denver neighborhood, Bonnie Brae.
No one has lived in the home for 26 years! The interior was left the way it was when the Dad left for Texas, all except for the 3 foot high stack of mail (mostly junk) that continued to be delivered through the mail slot.
After 26+ years we believe that most of the home's systems are beyond their useful life. The home most likely will be scraped from the lot and another bigger, beautiful home will replace it. That's what happens in this neighborhood.
I hope the neighbors will be happy, soon this lot will be developed into something that is worthy of the area. A chapter will end and a new one will begin.
Showings begin and end Sunday, March 29, 2015
Offers accepted up until March 31, 2015. Response on April 1, 2015 (no exceptions)
Home is sold "as is."
Call your broker or call me for more information. smile emoticon
Moral of the story....Don't die without a Will.
UPDATE: We sold the house for $100,000 over asking price! It was an exciting day with multiple offers thanks to the extensive marketing and promotion on the property. I wish I had 15 more just like it, I could sell them all and no one would be disappointed!
Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth.
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.
There are many reasons why owning a home makes sense, the Fed study shows that owning is still a great way for families to build wealth in America.
source: Keeping Current Matters
We've been enjoying low finance rates for quite some time now. Predictions for this time next year are for higher rates. This means less affordability for buyers and possibly less appreciation for homeowners. Are you on the fence about buying/selling? Now may be the best time to make that move.