The Denver Metro Area Real Estate Blog

Fannie to Offer Closing Cost Aid on Foreclosures

Daily Real Estate News | January 29, 2010

Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.

The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances. The goal of Fannie is to clear out the nearly 50,000 properties it has in inventory— listed on HomePath.com, the Web site created by Fannie Mae last year to sell the growing number of foreclosed homes.

"Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover," said Terry Edwards, executive vice president for credit portfolio management, in a statement.

Source: Reuters News, Al Yoon (01/28//2010)

Your friend in the real estate business,

Shelli Dore
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Price Reduced on 5144 Ladies Tresses Pl in Broadlands

Broadlands, Broomfield  -  Announcing a price reduction on 5144 Ladies Tresses Pl, a 1,380 sq. ft., 3 bath, 3 bdrm 2 story. Now MLS® $243,000 - .

Property information

Open House in Broadlands on Sunday January 31, 2010

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Broadlands, Broomfield  -  We invite everyone to visit our open house at 5144 Ladies Tresses Pl on January 31 from 12:00 PM to 3:00 PM.

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Open House in Broadlands on Saturday January 30, 2010

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Broadlands, Broomfield  -  We invite everyone to visit our open house at 5144 Ladies Tresses Pl on January 30 from 1:00 PM to 4:00 PM.

Property information

Open House in Broadlands on Saturday February 6, 2010

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Broadlands, Broomfield  -  We invite everyone to visit our open house at 5144 Ladies Tresses Pl on February 6 from 12:00 PM to 3:00 PM.

Property information

10 Cities Where It's Smarter to Buy

Daily Real Estate News | January 22, 2010

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities. To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

1. Boston-Cambridge-Quincy, Mass.
2. Charlotte-Gastonia-Concord, N.C.-S.C.
3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
4. Cincinnati-Middletown, Ohio-Ky.-Ind.
5. Denver-Aurora-Broomfield, Colo
6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
8. Portland-Vancouver-Beaverton, Ore.-Wash.
9. San Francisco-Oakland-Fremont, Calif.
10. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Your friend in the real estate business,

Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

HUD Changes to Mortgage Insurance Premiums...Not as Bad as You Might Think!

January 25, 2010
Mortgage Support Services
http://www.mtgsupportservices.com/

Here's the latest tip from The Mortgage Experts: The US Department of Housing and Urban Development (HUD), the government agency that oversees the FHA loan program, has recently announced that the up-front mortgage insurance premium that applies to FHA loans will be increasing from 1.75% of the loan amount to 2.25% of the loan amount. The change affects all FHA loans with an FHA case number assigned on or after April 15, 2010.

Although there will probably be an outcry against the change, it really has an extremely small effect on the borrower because almost all borrowers choose to finance the up-front mortgage insurance premium into their loan. For every $100,000 in loan amount, the monthly payment will go up by only $2.68 if the interest rate is 5%, and by only $2.84 if the interest rate is 5.5%. Hardly a deal killer.
Call us with any questions and call us if you want to work with the best mortgage bankers in Colorado.

The mortgage industry is constantly changing. Align yourself with the Mortgage Experts and take advantage of all the opportunities. If your buyers need information on how to get approved, the loan application, closing costs, all the disclosures, or anything else related to a mortgage, click here.

Your friend in the real estate business,

Shelli Dore
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

FHA to make changes....

The downpayment of 3.5% will NOT change unless the borrowers credit score is 580 or less, and then there will be a 10% down requirement. Currently, Wells Fargo requires a minimum credit score of a 600, so the downpayment change won't be an issue with us as credit would be. Also, FHA is planning to raise the upfront mortgage premium (aka UFMIP) from 1.75% to 2.25%. They will continue to allow this fee to be financed. FHA also plans to change the maximum allowed seller contribution from 6% to 3%. Read More

Your friend in the real estate business,

Shelli Dore
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

2 Story For Sale in Broadlands

Golf Course Community!

• 1,380 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $245,000

Broadlands, Broomfield  -  Gorgeous easy maintenance townhome with tons of upgrades! Features include: cherry cabinets throughout, granite counters, stainless steel appliances, wood floors, soaring vaults, central air, gas fireplace, light and bright with tons of windows, beautiful 5 piece master bath, his and her walk in closets, central air, all appliances included, fenced yard with patio and sprinkler system - perfect for pets, 2 car attached garage, room to grow in the in the basement (space for an extra bedroom, office or large family room AND a full bathroom, HOA covers exterior building maintenance + roof, insurance, snow and trash removal, water and sewer and access to the community pool and clubhouse.

This home is sparkling clean and move in ready! What more could you ask for?!

Property information

Who do you know that could use $6500 to $8000?

Here's the latest tip from The Mortgage Experts:

The IRS form to claim the $8,000 tax credit for first-time homebuyers and the $6,500 tax credit for long-time residents has finally been published by the IRS. We have the form and the instructions available on our web site.

Follow this link to our web site and click on the link at the bottom of the home page. There is also a link just below the link to the tax credit form that will take you to the instructions for completing the form. Read More!

Your friend in the real estate business,

Shelli Dore
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Expanded Tax Credit Offers Big Opportunity

Daily Real Estate News | January 11, 2010

With a new April 30 deadline in place for clients to take advantage of a federal home-buyer incentive, real estate practitioners now have slightly less than four months to get their qualified prospects under contract before the cut-off date.

In order to maximize this opportunity, it is recommended that real estate pros revamp their marketing materials to reflect changes in the rules — which now allow certain repeat buyers, as well as first-time buyers, to get a tax break. In addition to promoting home-buying based on today's lower home prices and historically low interest rates, it is also important for the real estate professional to convey to clients that there is no requirement that they sell their current residence at once — or ever.

On top of polishing up their marketing approach, real estate professionals should free up their time so that they are available to spend more time guiding buyers and hosting property showings. They also must be thoroughly knowledgeable about the supply of properties priced up to $800,000, which is the maximum price for a home to qualify for the tax credit.

Finally, agents must keep all other parties involved in transactions — from lenders to inspectors — on top of things and at the ready because most motivated house-hunters will want to move quickly once they have found their ideal property.

Source: RISMedia, Margaret Kelly (01/08/10)

Your friend in the real estate business,

Shelli Dore
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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Open House in Woodbridge Station on Sunday

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Woodbridge Station, Thornton  -  We invite everyone to visit our open house at 5214 E 129th Ave on January 17 from 1:00 PM to 3:00 PM.

Property information

Open House in Woodbridge Station on Saturday

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Woodbridge Station, Thornton  -  We invite everyone to visit our open house at 5214 E 129th Ave on January 16 from 1:00 PM to 3:00 PM.

Property information

Price Reduced on 5214 E 129th Ave in Woodbridge Station

Woodbridge Station, Thornton  -  Announcing a price reduction on 5214 E 129th Ave, a 1,595 sq. ft., 3 bath, 3 bdrm 3-level split. Now MLS® $210,000 - Reduced!.

Property information

December 2009 MLS Statistics

The December 2009 MLS Statistics have updated and are available. Click below to find your area's recent numbers in today's real estate market. Also don't forget about the extended first-time home buyer tax credit ends April 30, 2010.


Your friend in the real estate business,
Shelli Dore

Friend me on Facebook!
Connect with me on LinkedIn!
Follow me on Twitter!

…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.