THIS is YOUR Dream Home!

Realtors are blessed with being able to go into a lot of homes and see what works and what doesn't. Everything in this house just works! When you get inside you are impressed by the spaces and how everything is decorated. Its like a model home and leaves a lasting impression. This is the kind of home you'd like to buy furnished just the way it is...just move into it. Who would not want a 4800 SF home with finished walkout on 5 acres, that oh-by-the-way, is about a 12 minute commute to the nearest Walmart and Home Depot. Its got an Elizabeth mailing address, but its closer to Parker than Elizabeth really.

Go see more pix at http://www.coloradodreamhomes.net/ including of course a Virtual Tour.

This Blog is dedicated to Parker Colorado Real Estate, Parker Colorado Homes, Elizabeth Colorado real estate, Elizabeth Colorado homes, Franktown Colorado homes, Franktown Colorado real estate, Lone Tree Colorado real estate, Lone Tree Colorado homes, Highlands Ranch real estate, Highlands Ranch homes, Castle Rock real estate, Castle Rock homes, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

One more off the "To Do List"

The best way for a real estate company to offer a true "one stop shop" experience for their clients, and do it legally to avoid RESPA liabilities and risk, is to form an ABA (Affiliated Business Arrangement) and become a part owner in a Title Company, Mortgage Company etc. Colorado Dream Properties has done just that, and we are proud to say we are part owners of Meridian Title and Escrow as of November 2006.

Meridian Title is not a company that has a national advertising campaign, marble floors, and expensive rents they have to pay for in some high rise somewhere in the Tech Center. They office right out of our Southglennn location. Their low cost operation means we can pass along significant savings to our clients, if they choose to use Meridian Title. They offer deals such as a 10 year re-issue rate on Title Insurance (gives the client a discount) and $25 Tax Certificates. And they can compete and usually come in lower than any Title Company in town.

Check it out for yourself. The Website is: http://www.meridiante.com/

If you might be selling in the near future and want to take advantage of these deals, please visit our website at http://www.coloradodreamhomes.net/

This Blog is dedicated to Parker Colorado Real Estate, Parker Colorado Homes, Elizabeth Colorado real estate, Elizabeth Colorado homes, Franktown Colorado homes, Franktown Colorado real estate, Lone Tree Colorado real estate, Lone Tree Colorado homes, Highlands Ranch real estate, Highlands Ranch homes, Castle Rock real estate, Castle Rock homes, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

Cut the Magic Ribbon

Well we are official after having our ribbon cutting ceremony with the Parker Chamber of Commerce on Wednesday! Everyone thought the office looked wonderful and hopefully the Ambassadors from the Chamber will help us spread the word around. Its great to be a Chamber member and to benefit from their networking opportunities each month. We've been a member of the Chamber for 5 years now.

Go to http://www.ColoradoDreamHomes.net to see more pix of our office space! If you know of any Brokers that would like to join us don't hesistate to call us at 303-717-1492. We also have office space for lease that could be filled up with related industries, like lending, property and casualty insurance etc. Our goal is to make it a one-stop-shop for our clients.

This Blog is dedicated to Parker Colorado Real Estate, Parker Colorado Homes, Elizabeth Colorado real estate, Elizabeth Colorado homes, Franktown Colorado homes, Franktown Colorado real estate, Lone Tree Colorado real estate, Lone Tree Colorado homes, Highlands Ranch real estate, Highlands Ranch homes, Castle Rock real estate, Castle Rock homes, and metro Denver Colorado real estate property listings. Search the Denver MLS directly for properties and homes at http://www.coloradodreamhomes.info/ and access a huge real estate resource at http://www.coloradodreamhomes.net/

When You Going to Make the List of the Worlds Billionaires?

(home under construction is Dave Liniger's home in Castle Rock Colorado...founder of Remax. Check out the size of it compared to the cheap 600K homes below it)

Forbes says the research that when into compiling the rankings began in early 2006 and ended on Feb. 9, 2007.

1. William Gates III, Washington, 51, $56, Microsoft
2. Warren Buffett, Nebraska, 76, $52, Berkshire Hathaway
3. Carlos Slim Helu, Mexico, 67, $49, telecom
4. Ingvar Kamprad and family, Sweden, 80, $33, Ikea
5. Lakshmi Mittal, India, 56, $32, steel
6. Sheldon Adelson, Nevada, 73, $26.5, casinos, hotels
7. Bernard Arnault, France, 58, $26, LVMH
8. Amancio Ortega, Spain, 71, $24, Zara
9. Li Ka-shing, Hong Kong, 78, $23, diversified
10. David Thomson and family, Canada, 49, $22, inheritance
11. Lawrence Ellison, California, 62, $21.5, Oracle
12. Liliane Bettencourt, France, 84, $20.7, L'Oreal
13. Prince Alwaleed Bin Talal Alsaud, Saudi Arabia, 50, $20.3,
investments
14. Mukesh Ambani, India, 49, $20.1, petrochemicals
15. Karl Albrecht, Germany, 87, $20, Aldi
16. Roman Abramovich, Russia, 40, $18.7, oil
17. Stefan Persson, Sweden, 59, $18.4, Hennes & Mauritz
18. Anil Ambani, India, 47, $18.2, diversified
19. Paul Allen, Washington, 54, $18, Microsoft, investments
20. Theo Albrecht, Germany, 84, $17.5, Aldi, Trader Joe's
21. Azim Premji, India, 61, $17.1, software
22. Lee Shau Kee, Hong Kong, 79, $17, real estate
23. Jim Walton, Arkansas, 59, $16.8, Wal-Mart
24. Christy Walton and family, Wyoming, 52, $16.7, Wal-Mart
inheritance
24. S. Robson Walton, Arkansas, 63, $16.7, Wal-Mart
26. Sergey Brin, California, 33, $16.6, Google
26. Larry Page, California, 34, $16.6, Google
26. Alice Walton, Texas, 57, $16.6, Wal-Mart
29. Helen Walton, Arkansas, 87, $16.4, Wal-Mart
30. Michael Dell, Texas, 42, $15.8, Dell
31. Steven Ballmer, Washington, 51, $15, Microsoft
31. Kirk Kerkorian, California, 89, $15, investments, casinos
31. Raymond, Thomas and Walter Kwok, Hong Kong, ages unknown,
$15, real estate
34. Francois Pinault, France, 70, $14.5, retail
35. Suleiman Kerimov, Russia, 41, $14.4, stocks
36. Vladimir Lisin, Russia, 50, $14.3, steel
37. Jack Taylor and family, Missouri, 84, $13.9, Enterprise
Rent-A-Car
38. Vladimir Potanin, Russia, 46, $13.5, metals
38. Mikhail Prokhorov, Russia, 41, $13.5, metals
40. Oleg Deripaska, Russia, 39, $13.3, aluminum
40. Michael Otto and family, Germany, 63, $13.3, retail
42. Carl Icahn, New York, 71, $13, leveraged buyouts
42. Abigail Johnson, Massachusetts, 45, $13, Fidelity
44. Adolf Merckle, Germany, 72, $12.8, drugs
45. Barbara Cox Anthony, Hawaii, 83, $12.6, Cox Enterprises
45. Anne Cox Chambers, Georgia, 87, $12.6, Cox Enterprises
45. Mikhail Fridman, Russia, 42, $12.6, oil, banking
48. Vagit Alekperov, Russia, 56, $12.4, oil
49. Charles Koch, Kansas, 71, $12, oil, commodities
49. David Koch, New York, 66, $12, oil, commodities
51. Silvio Berlusconi and family, Italy, 70, $11.8, media
52. Nasser Al-Kharafi and family, Kuwait, 63, $11.5,
construction
52. Leonardo Del Vecchio, Italy, 71, $11.5, eyewear
54. Alexei Mordashov, Russia, 41, $11.2, steel
55. Gerald Cavendish Grosvenor and family, Britain, 55, $11,
real estate
55. Spiro Latsis and family, Greece, 60, $11, banking
55. Birgit Rausing and family, Sweden, 83, $11, packaging
58. Forrest Mars Jr., Virginia, 75, $10.5, candy
58. Jacqueline Mars, New Jersey, 67, $10.5, candy
58. John Mars, Virginia, 70, $10.5, candy
61. Viktor Vekselberg, Russia, 49, $10.4, oil, metals
62. Serge Dassault and family, France, 81, $10, aviation
62. Charles Ergen, Colorado, 54, $10, EchoStar
62. Michele Ferrero and family, Italy, 80, $10, chocolates
62. Naguib Sawiris, Egypt, 52, $10, telecom
62. Kushal Pal Singh, India, 75, $10, real estate
62. Alain and Gerard Wertheimer, France, ages unknown, $10,
Chanel
68. Susanne Klatten, Germany, 44, $9.6, BMW, drugs
69. Philip Knight, Oregon, 69, $9.5, Nike
69. Sunil Mittal and family, India, 49, $9.5, telecom
71. John Kluge, Florida, 92, $9.1, Metromedia
71. Vladimir Yevtushenkov, Russia, 58, $9.1, telecom
73. Rupert Murdoch, New York, 76, $9, News Corp.
73. Hans Rausing, Sweden, 81, $9, packaging
73. Reinhold Wurth, Germany, 71, $9, manufacturing
76. Ernesto Bertarelli, Switzerland, 41, $8.8, biotech
76. Pierre Omidyar, Nevada, 39, $8.8, Ebay
78. Maria-Elisabeth and Georg Schaeffler, Germany, ages unknown,
$8.7, ball bearings
79. Rafael del Pino and family, Spain, 86, $8.6, construction
80. Donald Bren, California, 74, $8.5, real estate
80. George Kaiser, Oklahoma, 64, $8.5, oil and gas, banking
80. George Soros, New York, 76, $8.5, hedge funds
83. Nikolai Tsvetkov, Russia, 46, $8.4, oil, banking
83. August von Finck, Germany, 77, $8.4, investments
85. Dan Duncan, Texas, 74, $8.2, energy
86. Mohammed Al Amoudi, Saudi Arabia, 61, $8, oil
86. Abdul Aziz Al Ghurair and family, United Arab Emirates, 53,
$8, banking
86. Kumar Birla, India, 39, $8, commodities
86. German Khan, Russia, 45, $8, oil, banking
86. Iskander Makhmudov, Russia, 43, $8, mining, metals
86. Sumner Redstone, California, 83, $8, Viacom
86. Shashi and Ravi Ruia, India, ages unknown, $8, diversified
93. Philip Anschutz, Colorado, 67, $7.9, investments
93. Galen Weston and family, Canada, 66, $7.9, retail
95. Enrique Banuelos, Spain, 41, $7.7, real estate
96. Stefan Quandt, Germany, 41, $7.6, BMW
97. Maan Al-Sanea, Saudi Arabia, 52, $7.5, construction, finance
97. Edward Johnson III, Massachusetts, 76, $7.5, Fidelity
99. Sulaiman Al Rajhi, Saudi Arabia, 87, $7.4, banking
100. Donald Newhouse, New Jersey, 77, $7.3, publishing
100. Samuel Newhouse Jr., New York, 79, $7.3, publishing
102. Leonard Blavatnik, New York, 49, $7.2, Access Industries
102. Charlene de Carvalho-Heineken, Netherlands, 52, $7.2,
Heineken
104. John Fredriksen, Cyprus, 62, $7, shipping
104. Philip and Cristina Green, Britain, 55, $7, retail
104. Stanley Ho, Hong Kong, 85, $7, gaming
104. Robert Kuok, Malaysia, 83, $7, diversified
104. Ronald Perelman, New York, 64, $7, leveraged buyouts
104. Viktor Rashnikov, Russia, 58, $7, steel
104. Tsai Hong-tu and family, Taiwan, 54, $7, finance
111. Johanna Quandt, Germany, 80, $6.7, BMW
112. Antonia Johnson, Sweden, 63, $6.6, diversified
113. Cheng Yu-tung, Hong Kong, 81, $6.5, real estate
114. Ramesh Chandra, India, 67, $6.4, real estate
114. Curt Engelhorn, Germany, 80, $6.4, drugs
116. Alexei Kuzmichov, Russia, 44, $6.2, oil, banking
116. Eric Schmidt, California, 51, $6.2, Google
118. Ng Teng Fong, Singapore, 78, $6.1, real estate
119. Anacleto Angelini, Chile, 93, $6, energy
119. Eli Broad, California, 73, $6, investments
119. Gustavo Cisneros and family, Venezuela, 61, $6, media
119. Erivan Haub and family, Germany, 74, $6, retail
119. Petr Kellner, Czech Republic, 42, $6, insurance
119. Ananda Krishnan, Malaysia, 68, $6, diversified
119. Lorenzo Mendoza and family, Venezuela, 41, $6, beverages
119. Hasso Plattner, Germany, 63, $6, SAP
119. Joseph Safra, Brazil, 68, $6, banking
128. Klaus-Michael Kuhne, Germany, 69, $5.9, shipping
129. Micky Arison, Florida, 57, $5.8, Carnival Cruises
129. James, Arthur and John Irving, Canada, ages unknown, $5.8,
oil
129. Masayoshi Son, Japan, 49, $5.8, Softbank
132. Steven Jobs, California, 52, $5.7, Apple Computer, Pixar
132. Karl-Heinz Kipp, Germany, 83, $5.7, retail
132. Akira Mori and family, Japan, 69, $5.7, real estate
132. Dmitry Pumpyansky, Russia, 43, $5.7, steel pipes
132. Julio Mario Santo Domingo, Colombia, 83, $5.7, beer,
diversified
137. Alexander Abramov, Russia, 48, $5.6, steel, mining
137. Charles Johnson, California, 74, $5.6, Franklin Resources
137. Esther Koplowitz, Spain, 56, $5.6, construction
137. Eliodoro Matte and family, Chile, 61, $5.6, paper
137. Pallonji Mistry, India, 77, $5.6, construction
142. Robert Bass, Texas, 59, $5.5, oil, investments
142. Michael Bloomberg, New York, 65, $5.5, Bloomberg
142. Terry Gou, Taiwan, 56, $5.5, technology
142. Vladimir Kim, Kazakhstan, 46, $5.5, mining
142. James Packer, Australia, 39, $5.5, media
142. Madeleine Schickedanz, Germany, 63, $5.5, retail
142. Thomas Schmidheiny, Switzerland, 61, $5.5, cement
142. Alisher Usmanov, Russia, 53, $5.5, steel
150. Robert Rowling, Texas, 53, $5.4, oil and gas, investments
150. Roustam Tariko, Russia, 45, $5.4, banking, vodka
152. Leonid Fedun, Russia, 50, $5.3, oil
152. Bradley Hughes, California, 73, $5.3, Public Storage
152. Michael Kadoorie and family, Hong Kong, 66, $5.3,
diversified
155. John Menard Jr., Wisconsin, 67, $5.2, home improvement
stores
155. Charles Schwab, California, 69, $5.2, discount stock
brokerage
157. Y.C. Wang and family, Taiwan, 90, $5.1, chemicals
158. Alberto Bailleres, Mexico, 74, $5, mining
158. Jean-Claude Decaux and family, France, 69, $5, advertising
158. Alicia Koplowitz, Spain, 54, $5, investments
158. Ralph Lauren, New York, 67, $5, fashion
158. Nicky Oppenheimer and family, South Africa, 61, $5, De
Beers
158. Onsi Sawiris, Egypt, 77, $5, construction
158. Samuel Zell, Illinois, 65, $5, real estate, private equity
165. Jorge Paulo Lemann, Brazil, 67, $4.9, beer
165. Edward Rogers, Canada, 73, $4.9, media
167. David Geffen, California, 64, $4.7, movies, music
167. Boris Ivanishvili, Russia, 51, $4.7, steel, banking
167. Nobutada Saji and family, Japan, 61, $4.7, beverages
167. Luis Carlos Sarmiento, Colombia, 74, $4.7, banking
167. Wee Cho Yaw, Singapore, 78, $4.7, banking
172. Rupert Johnson Jr., California, 65, $4.6, Franklin
Resources
172. Frank Lowy and family, Australia, 76, $4.6, malls
172. Andrei Melnichenko, Russia, 35, $4.6, banking, energy
172. Sergei Popov, Russia, 35, $4.6, banking, energy
172. Ricardo Salinas Pliego, Mexico, 51, $4.6, retail, media
177. Giorgio Armani, Italy, 72, $4.5, fashion
177. Otto Beisheim, Germany, 83, $4.5, retail
177. Martin and Olivier Bouygues, France, 54/56, $4.5,
construction, media
177. Lester Crown and family, Illinois, 81, $4.5, investments
177. James Goodnight, North Carolina, 64, $4.5, SAS Institute
177. Herbert Kohler and family, Wisconsin, 68, $4.5, plumbing
fixtures
177. Edward Lampert, Connecticut, 44, $4.5, investments
177. Sean Quinn and family, Ireland, 60, $4.5, real estate,
insurance
177. David and Simon Reuben, Britain, ages unknown, $4.5,
investments, real estate
177. James Sorenson, Utah, 85, $4.5, medical devices, real
estate
177. Ty Warner, Illinois, 63, $4.5, Beanie Babies
188. Saleh Al Rajhi, Saudi Arabia, 95, $4.4, banking
188. Jeffrey Bezos, Washington, 43, $4.4, Amazon
188. Kunio Busujima and family, Japan, 81, $4.4, gaming
188. Henry Ross Perot, Texas, 76, $4.4, computer services, real
estate
188. Bernard (Barry) Sherman, Canada, 65, $4.4, drugs
188. Stef Wertheimer and family, Israel, 81, $4.4, tools
194. Jeronimo Arango, Mexico, 81, $4.3, retail
194. Shari Arison, Israel, 49, $4.3, inheritance, cruise ships
194. Hubert Burda, Germany, 67, $4.3, publishing
194. Walter Haefner, Switzerland, 96, $4.3, software
194. Simon Halabi, Britain, 57, $4.3, real estate
194. Kwek Leng Beng and family, Singapore, 66, $4.3, hotels
194. Leonid Mikhelson, Russia, 51, $4.3, natural gas
194. Johann Rupert and family, South Africa, 56, $4.3, luxury
goods
194. Michael and Rainer Schmidt-Ruthenbeck, Germany, ages
unknown, $4.3, retail
194. Hiroko Takei and family, Japan, age unknown, $4.3, credit
204. Robert Holding, Idaho, 80, $4.2, energy, resorts, ranching
204. Lim Goh Tong and family, Malaysia, 89, $4.2, gaming
204. Ronald McAulay, Hong Kong, 70, $4.2, diversified
204. David Murdock, California, 83, $4.2, investments
204. Jeffrey Skoll, Canada, 42, $4.2, Ebay
204. Nina Wang, Hong Kong, age unknown, $4.2, real estate
210. Matthew Bucksbaum and family, Illinois, 81, $4.1, real
estate
210. William Davidson, Michigan, 84, $4.1, glass
210. Adi Godrej and family, India, 64, $4.1, diversified
210. Lev Leviev, Israel, 51, $4.1, diamonds
214. Rinat Akhmetov, Ukraine, 40, $4, steel, coal mines
214. Paul Desmarais, Canada, 80, $4, finance
214. Aloysio de Andrade Faria, Brazil, 86, $4, banking
214. Michael Herz, Germany, 61, $4, coffee
214. Wolfgang Herz, Germany, 56, $4, coffee
214. Shiv Nadar, India, 61, $4, infotech
214. Richard Schulze, Minnesota, 66, $4, Best Buy
214. Harold Simmons, Texas, 75, $4, investments
214. James Simons, New York, 69, $4, hedge funds
214. Andreas Strungmann, Germany, 57, $4, generic drugs
214. Thomas Strungmann, Germany, 57, $4, generic drugs
214. Yitzhak Tshuva, Israel, 58, $4, real estate
226. Antonio Ermirio de Moraes and family, Brazil, 78, $3.9,
diversified
226. Sammy Ofer and family, Israel, 85, $3.9, shipping
226. Nassef Sawiris, Egypt, age unknown, $3.9, construction
226. Hiroshi Yamauchi, Japan, 79, $3.9, Nintendo
230. Anil Agarwal, India, 53, $3.8, mining, metals
230. Richard Branson, Britain, 56, $3.8, Virgin Media
230. Frits Goldschmeding, Netherlands, 73, $3.8, temp agency
230. Stein Erik Hagen and family, Norway, 50, $3.8, supermarkets
230. Eitaro Itoyama, Japan, 64, $3.8, golf courses
230. Jim Pattison, Canada, 78, $3.8, diversified
230. Anton Schlecker, Germany, 62, $3.8, retail
237. Vladimir Bogdanov, Russia, 55, $3.7, oil
237. Alexander Lebedev, Russia, 47, $3.7, stocks
237. Luis Portillo, Spain, 45, $3.7, real estate
237. Leonard Stern, New York, 68, $3.7, real estate
237. Joan Tisch, New York, 81, $3.7, Loews
237. Tadashi Yanai and family, Japan, 58, $3.7, retail
243. Pyotr Aven, Russia, 52, $3.6, oil, banking
243. Charles Cadogan and family, Britain, 70, $3.6, real estate
243. Bernard Ecclestone and family, Britain, 76, $3.6, Formula
One
243. George Lucas, California, 62, $3.6, Star Wars
243. Gordon Moore, California, 78, $3.6, Intel
243. Stephan Schmidheiny, Switzerland, 59, $3.6, investments
249. Bjorgolfur Thor Bjorgolfsson, Iceland, 40, $3.5,
diversified
249. Richard DeVos, Michigan, 81, $3.5, Alticor
249. Kenneth Hendricks, Wisconsin, 65, $3.5, building supplies
249. Hui Wing Mau, Hong Kong, 56, $3.5, real estate
249. Ray Hunt, Texas, 64, $3.5, oil, real estate
249. Manuel Jove, Spain, 65, $3.5, real estate
249. Saleh Kamel, Saudi Arabia, 65, $3.5, diversified
249. Peter Kellogg, New Jersey, 65, $3.5, investments
249. Leonard Lauder, New York, 74, $3.5, Estee Lauder
249. Paul Milstein and family, New York, 84, $3.5, Emigrant,
real estate
249. Reinhard Mohn and family, Germany, 85, $3.5, media
249. Husnu Ozyegin, Turkey, 62, $3.5, banking
249. Stephen Schwarzman, New York, 60, $3.5, investments
249. Patrick Soon-Shiong, California, 55, $3.5, generic drugs
249. Karl Wlaschek, Austria, 89, $3.5, department stores
264. Isak Andic, Spain, 52, $3.4, textiles
264. Heidi Horten, Austria, 66, $3.4, department stores
264. Gerard Louis-Dreyfus and family, France, 74, $3.4,
commodities
264. Rosalia Mera, Spain, 63, $3.4, Zara
264. Melvin Simon, Indiana, 80, $3.4, real estate
264. Charoen Sirivadhanabhakdi, Thailand, 62, $3.4, alcohol
264. Stephen Wynn, Nevada, 65, $3.4, casinos, hotels
271. Kjeld Kirk Kristiansen, Denmark, 59, $3.3, Lego
271. Dmitry Rybolovlev, Russia, 40, $3.3, fertilizer
273. William Cook, Indiana, 75, $3.2, medical devices
273. Nicolas Hayek, Switzerland, 78, $3.2, Swatch
273. John Simplot and family, Idaho, 98, $3.2, potatoes,
microchips
273. Friede Springer, Germany, 64, $3.2, publishing
273. Steven Udvar-Hazy, California, 61, $3.2, International
Lease Finance
273. Leslie Wexner, Ohio, 69, $3.2, Limited Brands
279. Nadhmi Auchi, Britain, 69, $3.1, diversified
279. Elena Baturina, Russia, 44, $3.1, construction
279. Khalid Bin Mahfouz and family, Saudi Arabia, 60, $3.1,
banking
279. Edgar Bronfman Sr., New York, 77, $3.1, liquor
279. Albert Frere, Belgium, 81, $3.1, investments
279. Dilip Shanghvi, India, 51, $3.1, pharmaceuticals
279. Michael Ying, Hong Kong, 57, $3.1, Esprit
279. Chaleo Yoovidhya, Thailand, 75, $3.1, Red Bull
287. Abdulla Al Futtaim, United Arab Emirates, age unknown, $3,
auto dealers, investments
287. David and Frederick Barclay, Britain, ages unknown, $3,
media, retail
287. Lee Bass, Texas, 50, $3, oil, investments
287. Sid Bass, Texas, 64, $3, oil, investments
287. Clive Calder, Britain, 60, $3, record label
287. Francesco Gaetano Caltagirone, Italy, 64, $3, diversified
287. Steven Cohen, Connecticut, 51, $3, hedge funds
287. Jesus de Polanco, Spain, 77, $3, media
287. Maurice Greenberg, Florida, 81, $3, American International
Group
287. Otto Happel, Germany, 59, $3, engineering
287. Henry Hillman, Pennsylvania, 88, $3, industrialist
287. Indu Jain, India, 70, $3, media
287. Bruce Kovner, New York, 61, $3, hedge funds
287. Ronald Lauder, New York, 63, $3, Estee Lauder
287. Fredrik Lundberg, Sweden, 55, $3, real estate, investments
287. Dietrich Mateschitz, Austria, 62, $3, Red Bull
287. Patrick McGovern, New Hampshire, 69, $3, IDG
287. Arnon Milchan, Israel, 62, $3, New Regency
287. Mario Moretti Polegato, Italy, 54, $3, shoes
287. A. Jerrold Perenchio, California, 76, $3, Univision
287. Cyrus Poonawalla, India, 65, $3, biotech
287. Stefan Schorghuber, Germany, 45, $3, real estate
287. Steven Spielberg, California, 60, $3, movies
287. Teh Hong Piow, Malaysia, 77, $3, banking
287. Tsai Wan-Tsai and family, Taiwan, 77, $3, banking
287. Klaus Tschira, Germany, 66, $3, SAP
287. Peter Woo and family, Hong Kong, 61, $3, real estate
314. Mikhail Goutseriev, Russia, 49, $2.9, oil, real estate
314. Martha Ingram and family, Tennessee, 71, $2.9, Ingram
Industries
314. Lee Kun-Hee and family, South Korea, 65, $2.9, Samsung
314. Hiroshi Mikitani, Japan, 42, $2.9, e-commerce
314. Robert Miller, Canada, 61, $2.9, Future Electronics
314. Quek Leng Chan, Malaysia, 66, $2.9, banking
314. Moise Safra, Brazil, 72, $2.9, banking
314. Bruno Schroder and family, Britain, 74, $2.9, banking
314. Donald Trump, New York, 60, $2.9, real estate
323. Pierre Bellon and family, France, 77, $2.8, food services
323. Carlo Benetton, Italy, 63, $2.8, Benetton
323. Gilberto Benetton, Italy, 65, $2.8, Benetton
323. Giuliana Benetton, Italy, 69, $2.8, Benetton
323. Luciano Benetton, Italy, 71, $2.8, Benetton
323. Barbara Piasecka Johnson, United States/lives abroad, 70,
$2.8, inheritance
323. Richard Kinder, Texas, 63, $2.8, pipelines
323. Victor Pinchuk, Ukraine, 46, $2.8, steel pipes
323. Mitchell Rales, District of Columbia, 50, $2.8, Danaher
Corp.
323. Haim Saban, California, 62, $2.8, television
323. Takemitsu Takizaki, Japan, 61, $2.8, sensors
323. Dennis Washington, Montana, 72, $2.8, construction, mining,
transportation
323. Mortimer Zuckerman, New York, 69, $2.8, real estate, media
336. Juan Abello, Spain, 65, $2.7, investments
336. Riley Bechtel, California, 55, $2.7, engineering,
construction
336. Stephen Bechtel Jr., California, 81, $2.7, engineering,
construction
336. Charles Dolan and family, New York, 80, $2.7, Cablevision
Systems
336. David Gottesman, New York, 80, $2.7, investments
336. Graeme Hart, New Zealand, 51, $2.7, investments
336. Amos Hostetter Jr., Massachusetts, 70, $2.7, cable
television
336. Ann Walton Kroenke, Missouri, 57, $2.7, Wal-Mart
336. Hugo Mann and family, Germany, 93, $2.7, retail
336. Sergio Mantegazza, Switzerland, 79, $2.7, travel
336. Axel Oberwelland, Germany, 40, $2.7, candy
336. Steven Rales, District of Columbia, 55, $2.7, Danaher Corp.
336. Kjell Inge Rokke, Norway, 48, $2.7, shipping, seafood
349. Abdullah Al Rajhi, Saudi Arabia, age unknown, $2.6, banking
349. Heinz Bauer, Germany, 67, $2.6, publishing
349. Chen Din Hwa, Hong Kong, 84, $2.6, real estate
349. Heinz-Horst Deichmann, Germany, 80, $2.6, shoes
349. John Dorrance III, Ireland, 63, $2.6, Campbell Soup
349. Gabriel Escarrer, Spain, 72, $2.6, hotels
349. Masatoshi Ito, Japan, 82, $2.6, retail
349. Henry Kravis, New York, 63, $2.6, leveraged buyouts
349. Lee Shin Cheng, Malaysia, 67, $2.6, agriculture
349. Lui Che Woo, Hong Kong, 77, $2.6, construction, gaming
349. Kalanithi Maran, India, 41, $2.6, media
349. Wallace McCain, Canada, 77, $2.6, food
349. George Mitchell, Texas, 87, $2.6, Mitchell Energy
349. Carl Pohlad, Minnesota, 91, $2.6, banking
349. Grandhi Rao, India, 57, $2.6, infrastructure
349. George Roberts, California, 63, $2.6, leveraged buyouts
349. David Rockefeller Sr., New York, 91, $2.6, Standard Oil,
banking
349. Clemmie Spangler Jr., North Carolina, 74, $2.6, investments
349. Henry Sy, Philippines, 82, $2.6, malls
349. Jaime Zobel de Ayala and family, Philippines, 72, $2.6,
diversified
369. Majid Al Futtaim, United Arab Emirates, age unknown, $2.5,
real estate, retail
369. Khalaf Al Habtoor, United Arab Emirates, 57, $2.5,
construction
369. Roland Arnall, California, 68, $2.5, mortgages
369. Edward Bass, Texas, 62, $2.5, oil, investments
369. Ronald Burkle, California, 54, $2.5, supermarkets,
investments
369. Ray Dolby, California, 74, $2.5, Dolby Laboratories
369. Ennio Doris and family, Italy, 66, $2.5, insurance
369. Wesley Edens, New York, 45, $2.5, Fortress Investment Group
369. David Filo, California, 40, $2.5, Yahoo
369. Leona Mindy Rosenthal Helmsley, New York, 86, $2.5, real
estate
369. Joachim Herz, Germany, 64, $2.5, coffee
369. Paul Tudor Jones II, Connecticut, 53, $2.5, hedge funds
369. Min Kao, Kansas, 58, $2.5, navigation equipment
369. Joseph Lewis, Britain, 70, $2.5, finance
369. T. Boone Pickens, Texas, 78, $2.5, oil and gas, investments
369. Richard Pratt, Australia, 72, $2.5, packaging
369. Richard Rainwater, Texas, 62, $2.5, real estate, energy,
insurance
369. Stephen Ross, New York, 66, $2.5, real estate
369. Evgeny (Eugene) Shvidler, United States/lives abroad, 42,
$2.5, Millhouse Capital
369. Ronda Stryker, Michigan, 52, $2.5, Stryker Corp.
369. John Whittaker, Britain, 65, $2.5, real estate
390. Gianluigi and Rafaela Aponte, Switzerland, ages unknown,
$2.4, shipping
390. Charles Bronfman, Canada, 75, $2.4, liquor
390. Dhanin Chearavanont and family, Thailand, 67, $2.4,
agriculture
390. Yan Cheung, China, 49, $2.4, paper manufacturing
390. Alexander Frolov, Russia, 42, $2.4, mining, steel
390. Victor Fung, United States/lives abroad, 62, $2.4,
distribution

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Ins and Outs of Home Loans

By John Rebchook, Rocky Mountain News March 3, 2007

Mortgage. The word alone is enough to strike fear in the heart of a home buyer. But forget fixed-rate 30-year mortgages. Forget ARMs. A grab bag of confusing and often risky new options awaits. A primer of terms, checklists and red flags can help you avoid an even more terrifying word: foreclosure.

Thousands of Denver-area homeowners are facing the loss of their homes, at least in part because they are saddled with risky loans.

Prepayment penalties, negative amortization, balloon payments, interest-only loans, loans with no down payment, short-term teaser rates, option ARMs.

These are among the red flags consumers should watch for when making what typically is the largest purchase of their life.

While not the only reason more than 19,000 homes entered foreclosure in the Denver area last year - a record in total numbers and the second-worst year ever on a percentage basis - the loans are exacerbating an overall flat real estate market.

Mortgage broker Jim Spray said it is easy to tally how many bad loans are in the Denver area.
"Just look at the 19,000 foreclosures," he said.

On Wednesday, Spray counseled a woman who was about to lose her home because of an ARM that she could no longer afford.

"I did something I have never done in 30 years in the business," Spray said. "I put her on the phone with her minister so they could pray."

Speaking recently at the state Capitol, where he was preparing to testify for a bill to license mortgage brokers, Spray said if loans didn't have hefty prepayment penalties, the number of foreclosures would be cut dramatically.

It is not uncommon for people to be stuck with high-interest loans because they need to pay $10,000, $20,000 or more to refinance into a much lower market-rate loan, he said.
If they could refinance into a market-rate loan, now hovering at around 6 percent, they would be able to afford their payments, he said.

Ed Jalowsky, a real estate broker who specializes in selling distressed properties, said that 90 percent of these deals had ARMs, many of which are adjusting upward by thousands of dollars.
"I would tell people to get into a fixed rate," said Jalowsky of Classic Advantage Realty. "It's too easy to get into these ARMs. They get you in with these low rates, but in a year or two, you can't afford them."

Real estate broker Carolyn Sandberg specializes in "short" sales for lenders, in which the lender takes less than the mortgage amount in exchange for the house.
When homeowners miss payments, some lenders don't hesitate to play hardball with them, she said.

Sara Hays, a broker associate with Metro Property Brokers in Greenwood Village, works with Sandberg on short sales.

"Every single short sale we have done has been with someone with a bad ARM," Hays said Friday. "ARMs are only appropriate for a very sophisticated buyer."
She said the problem is that when the lender explains that the monthly payment will be low for only two years, buyers aren't listening.

"All they are hearing is that their monthly payment will be $740," Hays said. "Two years comes around fast. It only takes one thing - the loss of a job, a divorce, an illness - and they fall behind."

Sandberg said some first- time home buyers are so stretched that if they find themselves out of work for even two weeks, they fall behind.

Hays believes that buyers should only be using about 30 percent of their gross income on their mortgage. Often, buyers meet that ratio when they get the ARM with teaser rates, but the lender doesn't explain to them that they will be much more financially strapped when the payments rise, she said.

"And some people shouldn't be homeowners," Hays said.

Both she and Sandberg, often with Universal Lending, sponsor free workshops to prospective buyers on homeownership.

Zach Urban, who heads the Colorado Foreclosure Task Force, which was launched in October by the Colorado Division of Housing, said he is seeing inflated appraisals accompanying some ARM loans.

And sometimes homeowners are involved in the fraud by lying about their income, he said.
Urban, a foreclosure counselor at Brothers Redevelopment, said a hotline set up by the task force has received more than 9,400 calls, and he expects the number to hit 10,000 in mid-March.

"There are a lot of people signing things, and they don't know what they are signing," Urban said.

People who buy homes with little or no down payment are at the greatest risk of losing their homes, said Lou Barnes, co-owner of Boulder West Financial Services.

If home prices had been rising, the loan type would have far less impact, he said.
"We have had flat to declining prices in the foreclosure belt north and east of Denver," Barnes said. "Prices today are basically where they were at Christmas 2000. But if you get some reasonable appreciation, it protects people who made small or no down payments."

Barnes said other formerly hot real estate markets such as California, Nevada and Florida could be facing the same kind of foreclosure crisis as the Denver area.
But it won't happen overnight, he said.

"One of the best lessons of Colorado for the rest of the country is that our real estate market went flat in 2001, but we did not really start to see the rise in foreclosures until 2003," Barnes said. "Since 2003, foreclosures have been compounding 30 percent or 40 percent each year."
Navigating the home loan maze

• Prepayment penalty loans
You might not have the money necessary to prepay the loan, and you would not be able to refinance.
• Negative amortization loans
Who wants the loan to get larger even as you make payments?
• Interest-only mortgages
These loans should be seen as an investment tool for financially secure borrowers, not as a way to stretch to buy the biggest house.
• "Teaser" rate loans
Much like ARMs, when the short-term teaser rate expires, you could pay a higher rate than you can afford.
• Refinancing into an adjustable rate mortgage

An ARM could be lower at first but then go higher than a fixed-rate. Unless you are sure you will pay off the loan before the ARM adjusts, stay with the safety of a fixed-rate. This is especially true today, when there is little difference in rates between ARMs and fixed-rate loans.

A closer look at the mortgage business
Glossary
• Adjustable rate mortgage: A mortgage in which the interest rate changes periodically, according to corresponding fluctuations in a particular index.
• Balloon payment: The final large lump sum payment on a mortgage due at the end of a series of smaller payments.
• Foreclosure: When a borrower in default on a mortgage loses the interest in the property to the lender. The legal process usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.
• Interest-only loans: A nonamortized loan in which interest is due at regular intervals until maturity, when the full principal on the loan is due.
• Negative amortization: Unpaid interest is added to the total loan amount, increasing the outstanding balance.
• Option ARMS: Each month a borrower can make the full principal and interest payments, pay interest only or make a minimum payment. Those who choose the minimum payment pay no principal and less interest than what accrues on the loan. If borrowers continue to make the minimum payment, their loan balance will grow.
• Point: A fee that is equal to 1 percent of the loan amount. Points can lower the mortgage interest rate.
• Predatory lending: When a lender makes a loan knowing that it is highly unlikely that the borrower can pay it back. Often, they are associated with high-interest loans and deceptive practices.
• Prepayment penalty: A fee charged to a borrower who pays off a loan before it is due.
• Short sale: A lender accepts less than the mortgage amount, avoiding a lengthy and costly foreclosure. The homeowner still loses the house.
• Stated income loans: A mortgage that requires little or no documentation. It does not require such items as a list of all creditors, two or three paycheck stubs, W-2s, income tax returns and bank statements.

Choosing a lender
• Check with several lenders.
• Choices include thrifts, commercial banks, mortgage companies and credit unions.
• Mortgage brokers arrange transactions rather than lending money directly, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. So you may want to interview several mortgage brokers.
• Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week.
• If you choose an ARM, find out how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down.
• Pay attention to the annual percentage rate, or APR. The APR takes into account not only the interest rate but also points, broker fees and certain other credit charges that you may be required to pay, expressed as a yearly rate.
• Check your local newspaper and the Internet for information about rates and points.
• Ask for points to be quoted to you as a dollar amount so that you will know how much you will have to pay.

Foreclosure bills in the legislature
Highlights of the latest foreclosure bills sponsored by Sen. Peter Groff, D-Denver, Sen. Ken Kester, R-Las Animas, and Rep. Rosemary Marshall, D-Denver.:
• Would require mortgage brokers to be licensed, not just registered with the state.
• Defines grounds for revocation or suspension of license.
• Authorizes the director of the Colorado Division of Real Estate to impose fines and issue letters of admonition.
• Makes a broker's employer liable only if the employer knew of the wrongdoing by the broker.
• Requires all documents related to a mortgage loan on residential real estate provided to the borrower at least two business days before closing.
• Gives the borrower a right to rescind the transaction if any material is misstated or restated.
• Prohibits any attempt to waive a borrower's homestead rights for the property.
• When refinancing, prohibits any attempt to give a mortgage broker - or any other person connected with the transaction - a quitclaim deed to the property or power of attorney.

Mortgage questions
In trouble, these resources can help:
• Foreclosure Hotline: 1-877-601-HOPE
• FHA Resource Center: 1-800-225-5342
• For a complaint about a real estate broker or mortgage lender: http://www.dora.state/.co.us/real-estate/Complaints/Complaints.htm Source: Federal Trade Commission Foreclosure Bills In The Legislature Highlights Of The Latest Foreclosure Bills Sponsored By Sen. Peter Groff, D- ...
More red flags
•Loans with a balloon payment
Only appropriate for the most sophisticated borrowers. You may need to take out a new loan, with additional fees, when the balloon is due to finance the balance.
• Blank spaces on documents
The lender can fill in anything he or she wants, such as the interest rate.
• Promise of a free appraisal
Why? Free appraisals could be a scam. The appraiser may be in cahoots with others in the process who have agreed to inflate the value of the home so you can get a loan. Such appraisers may not even look at the property.
•No-down-payment loans
Why? If you haven't put money down, you could wind up owing more on the house than it's worth, a challenge if you have to sell the house after only a few years.
• A lender who makes promises but not in writing
You might not get what you were promised.
What the professionals are saying
"I've dealt with some lenders who are truly the lenders from H-E-double toothpick."
Carolyn Sandberg Home Real Estate in Westminster
"Some of these lenders are heartless, absolutely heartless."
Jim Spray a mortgage lender who has long advocated stricter controls on his profession
"When there is money involved, schemes get pretty sophisticated."
Zach Urban a foreclosure consultant at Brothers Redevelopment, who runs the Colorado Foreclosure Hotline

rebchookj@RockyMountainNews.com or 303-954-5207

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