Monday, March 31, 2008

Hot Townhome!


You know the story...renting is like throwing money down the drain! Now is the perfect time to get owning your own home. Interest rates are still at historic lows and you CAN get a loan as easily as ever! Picture this; a nice 3 bedroom, 4 bath townhome that is maintenance free and is minutes to E-470, the Tech Center, Park Meadows, and light rail! Amenities Include: -Air conditioning -Quiet interior location fronting to a park! -Cozy gas fireplace -Covered porch -Upstairs laundry -9’ ceilings in main level -Oak cabinets throughout -Two master bedrooms upstairs! -kitchen counters w/Corian edge -Dining Room -Master bath w/soaking tub -Attached two car tandem garage w/remote

Special financing rates apply for this home through Martin Funding. Call Brandon Martin at 720-296-0198.


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

New Stonegate Listing!


Beauty is evident in every detail in this charming 2009 square foot ranch home. Built in 2001 with 3 bedrooms, 2 full baths, and a low maintenance interior lot in Stonegate, you simply can’t lose owning this residence! Spectacular features throughout this spacious floor plan include a stunning kitchen with loads of maple cabinets, tile counters, beautiful Oak flooring, handy island with overhead pendent lighting, breakfast nook with built-in bench, and sit-up breakfast bar. The spacious great room features a handsome gas fireplace with tile surround and built-in entertainment area, and opens out to a generous Trex deck. The spacious master boasts a wall of windows and a 5 piece master bath with large soaking tub. The hidden value in this home is a partially finished basement that is totally framed for a living area, a bedroom, and a bath and has the tub already in. Eye catching gray-green and off-white hues add class and warmth throughout. Go see the rest, then come inside this home. You’ll find charm and elegance throughout! Other amenities include: -Formal dining room -Sprinkler system -Fenced -Air -Bull-nosed corners -Large laundry w/sink -Blinds in every window -Recessed lighting -Security system -9’ high ceilings throughout -Professionally landscaped

This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Tax Rebates Mailing Soon...When Will You Get Yours?

Last month, President Bush signed the Economic Stimulus Package into law - setting aside $168 billion in tax rebates and incentives to help boost the US economy. As we head into spring, those tax rebates are getting ready to hit the mail. So when should you expect yours? That depends on a few factors, including when you file your 2007 tax return, whether you choose direct deposit, and believe it or not...what your social security number is.

Timing Is Everything! We all know the deadline for filing your 2007 taxes is quickly approaching. But you may want to be ahead of the curve if you want your tax rebate sooner, rather than later. That's because tax rebates will start going out on May 2... but only to taxpayers who have their returns "processed" - not just sent - by April 15. The closer it gets to mid-April, the more the IRS gets backed up to process the flood of returns--sometimes taking a couple of weeks to complete. E-filers will get their rebates more quickly, since electronic returns can be processed faster. However, even e-filers should have their returns in by April 10 to be safe.

Would You Like Paper? Or Electronic? Tax rebate checks will start going out on May 2. But here's the deal... taxpayers who chose direct deposit will be first in line. According to the IRS, all direct deposit tax rebates will be wired between May 2 and May 16. Paper checks won't start going out until May 16, and aren't expected to be completed until mid-July.

What's Your Number? The IRS needs some way to determine the order of distributions - but they're not going alphabetically. Instead, tax rebates will be distributed in order of the last two digits of your Social Security number...the lower your number, the sooner you'll receive your payment. For a detailed breakdown of the order, take a look at the IRS's Stimulus Payment Schedule.

About seven to ten days before your rebate is sent, the IRS will send you a notice informing you how much it will be. If you signed up for direct deposit, however, you'll probably receive that information in the mail about the same time your rebate is deposited into your account, since direct deposit transactions are processed so quickly. But you don't have to wait that long to determine approximately how much you'll receive. To calculate your approximate rebate, visit the new online stimulus calculator on the IRS website.

Finally, it's important to remember that the rebate check will not be counted as taxable income and will not reduce your refund or increase the amount you owe when you file your 2008 return. However, if you owe back taxes, the IRS will apply your rebate to that bill and send you whatever is left over.

For more information, visit the Economic Stimulus Package Information page on the IRS website. You can even read detailed answers to Frequently Asked Questions.




This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Monday, March 24, 2008

What's in a Trillion??

You have to love all the rhetoric and posturing from our new politicians, so I wonder Who and where the cash is going to come from?

A Million:
A Billion:
A Trillion:
A million seconds is 13 days.
A billion seconds is 31 years.
A trillion seconds is 31,688 years.
A million dollars ago was five (5) seconds ago at the U.S. Treasury.
A billion dollars ago was late yesterday afternoon at the U.S. Treasury.

The next time you hear a politician use the word "billion" in a casual manner, think about:

whether you want the "politicians" spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases:

A. A billion seconds ago it was 1959.

B. A billion minutes ago Jesus was alive.

C. A billion hours ago our ancestors were living in the Stone Age.

D. A billion days ago no-one walked on the earth on two feet.

E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

While this thought is still fresh in our brain, let's take a look at New Orleans It's amazing what you can learn with some simple division ....

Louisiana Senator, Mary Landrieu (D), is presently asking the Congress for $250 BILLION to rebuild New Orleans. Interesting number, what does it mean?

A. Well, if you are one of 484,674 residents of New Orleans (every man, woman, child), you
each get $516,528.

B. Or, if you have one of the 188,251 homes in New Orleans , your home gets $1,329,787.

C. Or, if you are a family of four, your family gets $2,066,012.

A trillion dollars is so large a number that only politicians
can use the term in conversation... probably because they
seldom think about what they are really saying. I've read that
mathematicians do not even use the term trillion!
Here is some perspective on TRILLION:

Trillion = 1,000,000,000,000.
The country has not existed for a trillion seconds.
Western civilization has not been around a trillion seconds.
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

Washington, D.C .. Beltway Thieves!!! ... redistribution of wealth??
Remember, This does NOT INCLUDE-state-local-sales-excise-property-license-permits, etc-etc.-etc

Current national Debt 10T, thats trillion. With Social Security and Medicare- 60T, Trillion.

Now add the free health care for the US, jobs for everyone, free homes for everyone, free education for everyone and continued Policing of the world.....Hmmm

Tax his land,
Tax his wage,
Tax his bed in which he lays.
Tax his tractor,
Tax his mule,
Teach him taxes are the rule.
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirts,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he tries to think.

Tax his booze,
Tax his beers,
If he cries,
Tax his tears.

Tax his bills,
Tax his gas,
Tax his notes,
Tax his cash.

Tax him good and let him know
That after taxes, he has no dough.

If he hollers,
Tax him more,
Tax him until he's good and sor e.

Tax his coffin,
Tax his grave,
Tax the sod in which he lays.
Put these words upon his tomb,
"Taxes drove me to my doom!"

And when he's gone,
We won't relax,
We'll still be after the inheritance TAX!!
Take a look at these taxes and there are more not even listed here!

Building Permit Tax
CDL License Tax
Cigarette Tax Accounts Receivable Tax
Corporate Income Tax
Dog License Tax
• Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License T ax
Fuel Perm it Tax
Gasoline Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax),
IRS Penalties (tax on top of tax),
Liquor Tax,
Luxury Tax,
Marriage License Tax,
Medicare Tax,
Property Tax,
Real Estate Tax,
Service charge taxes,
Social Security Tax,
Road Usage Tax (Truckers),
Sales Taxes,
Recreational Vehicle Tax,
School Tax,
State Income Tax,
State Unemployment Tax (SUTA),
Telephone Federal Excise Tax,
Telephone Federal Universal Service Fe e Tax,
Telephone Federal, State and Local Surcharge Tax,
Telephone Minimum Usage Surcharge Tax,
Telephone Recurring and Non-recurring Charges Tax,
Telephone State and Local Tax,
Telephone Usage Charge Tax,
Utility Tax,
Vehicle License Registration Ta x,
Vehicle Sales Tax,
Watercraft Registration Tax,
Well Permit Tax,
Workers Compensation Tax.

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids. What happened?

Can you spell 'politicians!'
http://www.federalbudget.com/ This is a link to the current 2008 national debt, take a look and remember that BLACK OPS or non Budget items are NOT INCLUDED, HMMMMMMMMM.



This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Is That Latest Rate Drop Going to Help At All?

So, the Fed cut the Fed Funds Rate by another .75%. However, as we've seen following every Fed rate cut in the recent cycle, chances are very good that Bond pricing will worsen following the cut...which results in higher home loan rates. This happens because Fed rate cuts help to stimulate the economy, by making it less expensive to finance personal and business purchases...and this in turn fuels inflation, the arch-enemy of fixed return assets like Bonds, which home loan rates are based on.



This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Ready to Save Some Money on Your Property Taxes?




As Realtors, we are in a great position to help out our clients with their property taxes in this “down market” we are experiencing. The assessments don't change this year, as this is an off year for assessing property values.


HOWEVER, it doesn't mean you do not have the right to protest your house value this year! With the crazy process of only using this "lagging timeline", you could only use comps that had sold from 1/1/06 to 4/1/07. Nothing after that date counts. But that is a new timeframe from last years assessment, and if the market got weaker within a years time, you may have a case that your home is worth less this year than last.


Hey, all we could do is save you thousands of dollars on your property taxes for 2008!


We have access to the solds, and can help you make a valid argument if you'd just ask us to help.





This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Monday, March 10, 2008

Ridin That Crazy Train!

"I'M GOING OFF THE RAILS ON A CRAZY TRAIN..." OZZY OSBOURNE And speaking of going off the rails crazy...Bonds and home loan rates just experienced one of the most volatile, crazy weeks ever seen, with fixed home loan rates rising by about .375% by the time the smoke cleared.

During the first four days of last week, Bonds underwent a crazy 313 basis point sell-off - more than they sometimes move over the course of six months. Why the insane action? Uninspiring commentary from Federal Reserve officials, renewed fears of inflation...and another very interesting story playing out last Thursday. Losses from The Carlyle Capital Group and Thornburg Mortgage decreased their capital to the point where their financial backers had asked for cash back in the way of a "margin call". What does this mean?

Imagine a home that received a loan for 50% of the value...but a provision in the loan stated that under no circumstances could the equity fall below 50%. And the home would need to be appraised every day to evaluate this. If the home lost significant value, the lender would be entitled to an immediate payment to retain the 50% equity position. So if the home did indeed decline in value, the lender would make a call for capital to make sure their 50% margin of loan-to-value remains intact...hence the name margin call. If the homeowner had the cash to meet this call - all is well. But if the homeowner did not have the cash, the only way to satisfy the lender would be a sale of the home. And that is basically what Carlyle Capital Group and Thornburg Mortgage had to do last Thursday...they didn't have enough cash on hand to meet their margin call, so they were forced to sell home loans that they were hold ing. This flood of mortgage paper on the market pushed Mortgage Bond prices lower...much lower.


The week was shaping up to be one of the worst in history for Bonds and home loan rates - but then, remembering that weak financial news is good for Bonds and home loan rates, Friday's utterly dismal monthly Jobs Report came to the rescue. On the report that there were a net loss of 63,000 jobs in the US last month - as well as negative revisions to previous months reports - Bonds rocketed back higher, at least enough to erase the previous day's losses, but still ended significantly worse off for the week overall.


Forecast for the Week


And don't think the wild ride is over...Bonds and home loan rates are probably not pulling into the station just yet, so stay strapped in and keep your hands on the safety bar. Another week of potential volatility lies ahead, with several key economic reports due for release, including Retail Sales, Initial Jobless Claims, Consumer Sentiment and the inflation-measuring Consumer Price Index.

Remembering that when Bond prices move lower, home loan rates move higher - the chart below shows just what kind of dramatic volatility has been seen of late. The 200-day Moving Average shown in blue has traditionally been a very strong "floor of support" or "ceiling of resistance", depending on which side of the line Bonds are trading. Last Thursday's action saw a deep dip below this benchmark line in the sand - but Friday's strong positive move helped Bonds power their way back above the line.

The news in the days ahead will dictate which side of this important line Bonds will head next, and could determine the trend for the next several weeks...and perhaps even months.
Chart: Fannie Mae 5.5% Mortgage Bond (Friday Mar 07, 2008)


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Thursday, March 06, 2008

Mortgage Rules Changing Almost Daily!

Several changes have happened in the last 5 days that you should really be aware of. Some good, some bad. Please be sure to read all 3, as they may impact deals you currently have in the pipeline.

1) As of 3/1/08, there are no Mortgage Insurance Companies that offer MI in the Denver area at less than a 97% Loan To Value. The scary thing here is, your client could have an approval (automated via Fannie Mae, or full approval through an underwriter) that is NO GOOD, because it is dependant upon Mortgage Insurance that is no longer available.

Mortgages with $0 - $1,000 down are still available through 4 sources:
A: A CHFA approved lender. (we're aproved). Colorado loans the downpayment money to the borrower. Income restricted.
B: Denver Bond Program (we're approved). Downpayment is given to the borrower. Income restricted.
C: B-Paper. Note that the rates will be significantly higher.
D: The old downpayment assistance programs, IE Nehemiah. Remember, your client will pay more for the house than needed.

Otherwise, your best bet is FHA with a 3% gift from a family member.

2) As of today, FHA has INCREASED(!) loan limits to $406,250. Woo Hoo!

3) Fannie Mae and Freddie Mac are changing their pricing criteria on credit scores. Previously, for full doc loans, a 640 FICO score was as good at a 719, and a 720 score got a borrower $500 in fees reduced on a typical loan. Now, at each 20 pt increment, your client loses money. So, at 720+ borrowers get the same rates as today. At 640, they could be as much as 0.625% worse (!). So.... YOUR CLIENT NEEDS TO TALK TO A LENDER AS SOON IN THE PROCESS AS POSSIBLE, because with an extra two weeks to work, a good lender could save them thousands. This does not impact FHA.

The nutshell: FHA and CHFA are now much more attractive than it was for anyone with a credit score below 720 and / or a downpayment below 20%. Have them talk to your preferred lender early, to be sure they are best served.

Thanks,



Matt.



Matthew M. Lee

Sr. Mortgage Planner



The FIRST Team: Financing Integrity, Resourcefulness, Service, and Trust.



Cherry Creek Mortgage Co.
7400 E. Arapahoe Rd. Suite 303
Centennial, CO 80112
Office: 303.270.9600
Fax: 303.843.9203
Website: http://www.coloradofirstmortgage.com/ <http://www.coloradofirstmortgage.com/>
Email: mlee@ccmc-net.com <mailto:mlee@ccmc-net.com>



This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Tuesday, March 04, 2008

Coming Soon next to Quincy Lake!


Here is an example of the "sale" prices you can get right now. Arapahoe County has this home valued at 122,500 in 2007. After running solds in the neighborhood, I'm recommending to the bank that it is listed at 99,900. This is going to be a good deal to some lucky buyer!


This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/

Houses are on Sale!

So this home started out at 412,900, and is now at 350K, representing a 63K drop in price. It would easily comp out in the 390K range. All it needs is some landscaping and appliances. A buyer could put all of 7K into this home and get instant equity. It need nothing else.






So this home is now $899, which is a $100,000 price reduction from its original list price. It has never been lived in, as the builder was foreclosed on. It is priced signifigantly less than every other house in Timber Canyon, a high-end residential neighborhood in Castle Rock. On a $/SF basis, it is the lowest in this subdivision.

These are just two examples of the deals you can get out there right now. Nobody knows how long this historic "sale" will last, but if I were in the position to buy, I'd be jumping on the opportunity. Remember the old saying "Buy low, sell high?" To make money in the stock market you buy when the mood is gloomy and you sell when things are rocking. In real estate its no different. Nobody will ever be able to pick a top or bottom of a real estate cycle, but buyers have an unprecedented opportunity right now to build some solid future equity.

This Blog is dedicated to Parker Colorado Real Estate and Parker Colorado Homes, Elizabeth Colorado homes and land, Franktown Colorado homes, Castle Rock real estate, 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/