Parker CO Homes For Sale, Homes in Castle Rock, and Elizabeth CO Homes Blog: parker colorado homes

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Thursday, January 20, 2011

Short Sale News is HUGE in Parker CO and everywhere!

This is SO HUGE for real estate right now...I'm ecstatic! This really changes EVERYTHING to be honest. Yes there are short sales in The Pinery and The Timbers even...nobody is immune so this will affect YOU. REALTOR® Magazine-Daily News-HAFA Posts New Rules for Short Sales http://ow.ly/3HCWC

Search the Denver MLS for Parker CO Homes and Real Estate -save searches or set up automatic email alerts yourself. See ALL Parker CO Homes and Parker CO real estate listings. Its simply the most accurate tool you can have for your home search! www.ColoradoDreamHomes.net

Discover the Value of Your Colorado Home -Home Sellers! Knowing what your home is worth in today's Colorado market is important if you are thinking about selling. Get a FREE Report of similar homes in your neighborhood.www.ColoradoHomeValues.net

Saturday, November 07, 2009

Let's Get This Party Started!

This is going to heat up the market and give us some much needed balance! Congress just extended the first time homebuyers tax credit until next April 30th, 2010, but more importantly, added a $6,500 tax credit to buyers who have lived in their homes for 5 years. Woohoo! It's about time other parts of the market start to rock and roll a little. This still won't help the million dollar homes (heaven help these people) because it's only good for purchases up to 800K. Never-the-less, the odds are greater that this incentive will spill up to the luxury end of the market than in the past (as long as there are buyers wanting to trade up to homes of that level.) I'm predicting a VERY healthy Spring for the Real Estate industry!

Details of the New Legislation

Friday, October 16, 2009

Unparalleled Design and Craftsmanship!

Seeking That Perfect Parker CO Luxury Home?

Offering the perfect blend of creative design and flowing, open spaces, this impeccably maintained two story home combines classic Colorado charm with an open, bright floor plan, numerous upgrades and tasteful décor. The location is beyond compare, with a glorious .79 acre park-like lot that combines massive old-growth Ponderosa Pines with open, sunny views of the rolling terrain and forest beyond. Since it backs to a home on 20 acres that is barely visible, your privacy is assured, and it feels more like you back to open space. It does, in fact, front to open space! You’ll marvel at the flat, golf-course-quality lawn and professionally designed gardens throughout!

The design of this residence is conducive to both intimate and extended gatherings of friends and family. With one of the two master bedrooms on the main level, this room is the perfect guest suite (if you don't take it yourself.) The massive 19 X 25 great room features a wall of windows, 20’ ceilings, and top-of-the-line gas fireplace insert custom designed to heat the whole house. For the serious cook, the stunning kitchen is a chef’s delight as it boasts gorgeous cabinetry, miles of slab granite, 2 islands plus a sit up bar area, and high end Frigidaire and Kenmore appliances. The generous breakfast nook walks out to an expansive 32 X 12 deck, which is surrounded by tall, whispering pines that keep it comfortable in the hot summer sun.

Upstairs is anchored by a large open loft, perfect for a kids-only space or a home theater area. A fifth bedroom can easily be added in this space if the need arises in the future. Another plus is access via two staircases. The sumptuous master suite features opulent bath, room-sized closet, and private covered deck. Two giant secondary bedrooms are joined by a Jack-n-Jill bath. Finally, the jaw-dropping 2614 SF walkout basement has special garage access, full epoxy floors and painted walls throughout. Living spaces could be designed as it is, or finish it to your own tastes. Either way, it’s easy to see the value in this amazing home!

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!
www.ColoradoDreamHomes.net

Discover the Value of Your Colorado Home -Home Sellers! Knowing what your home is worth in today's market is important when you are thinking about selling your home. Get a FREE Report of similar homes in your neighborhood.
www.ColoradoHomeValues.net

Dare to Compare!

FABULOUS RANCH HOME, UPDATED KITCHEN, BEAUTIFUL CABINETS AND COUNTERTOPS, UPDATED MASTER BATH. LOTS OF HARDWOOD FLOOR ON MAIN LEVEL, CORNER LOT, MATURE TREES, CLOSE TO COMMUNITY CENTER. PRIVATE YARD, LAUNDRY ON MAIN FLOOR. OFFICE QUALIFIES AS A 5TH BEDROOM.

Sunday, September 27, 2009

Horse Lovers Haven!

When searching for horse property, this 4 bedroom, 3 bath home should certainly be on your list! Don’t let the average curb appeal deceive you; this house has a dynamite floor plan inside that includes large, welcoming, open spaces and is in great condition! Don’t waste time wandering through all the other cut-up small, boxy homes.

The 20 X 25 great room has vaulted ceiling and is anchored by a pleasing fireplace with stone surround. The great room flows into the large breakfast nook and modern kitchen, both with gleaming hardwood floors. The kitchen features oak cabinets, pantry, refrigerator, and recessed lighting. One of the bedrooms has French doors, so it could be a home office instead.

The large 32 x 30 rec room in the walkout basement is sure to please, being large enough to accommodate any need. A 2 stall barn with water, electric, tack room and hay storage rounds out this enticing horse property.

Wednesday, September 16, 2009

Half of Mortgage Licenses Get Deactivated

How Great is This? The article is a few weeks old, but this is the best thing that could happen to the real estate and mortgage business. There were too many crappy lenders and its high time the weak were killed off!

Article from BizJournals.com

Tuesday, August 18, 2009

Contract Timelines Will Affect You

Buyers and Sellers, Your World is Changing, so listen up!

Some changes have taken place on the lending side that will affect your world and you really need to know them when writing contracts. These changes took place 7/30/09. It will affect how contracts are written and how transaction fees are disclosed.

New guidelines for dates:

Loan Application Deadline: 1 day only
Inspection Deadline: 3-4 days
Resolution Deadline: 4-5 days
Appraisal Deadline: 3 weeks minimum
Closing Deadline: 6 weeks
Ideal closing date: around the 20th of each month, NOT THE LAST DAY

Basically what this is going to do is slow down the entire real estate industry. Once the lender gives a good faith estimate, if the APR changes by 1/8 of a point by the closing, new disclosures have to be signed and the clock rolls back on the lending process, causing delays for your buyer.

A 30 day close is going to be next to impossible to pull off. A 45 day close is highly recommended and might be the only thing you can rely on. You need to give enough time for the appraisal process (2 solid weeks after your Inspection Resolution Deadline,) and you do not want to close at the end of the month, or even close to it if you can help it. If that 1/8 rule gets broken at all and the loan is delayed, you better allow yourself breathing room to close it that month. AND if the closing doesn't happen the last day of the month and has to leak into the next month, the APR will automatically change more than 1/8 of a point, and you are guaranteed a 1-2 week delay and a lot of heartache for all parties at that point.

Who is going to look bad in the deals? The lender. And consequently the buyer. And consequently YOU. But the lenders are getting pushed around by these new government rules and they can’t do anything about them.

Most fees to the buyer are going to have to be disclosed to the lender once you are under contract, because he will have to build that into the APR. Also, Title companies are going to have to get used to putting out estimated HUD's sooner than they ever have; anytime a buyer wants to lock in a rate it will be needed so the lender is aware of all of the fees and can disclose them up front.

So be advised that if you ignore these changes potential pain is coming for your contract!

Housing hits a bottom

I do NOT agree with the article. I believe we may be at a bottom, but a bottom that will last until 2015, at least price-wise. All we are going to do is chug along the bottom with no appreciation at all. There will still be deal to be had for savvy buyers with good agents though.

Housing starts and sales expected to rise modestly in July

Housing, which led the economy into recession, may be one of the forces that helps to pull it out of the ditch. After 14 quarters of declining investment in homes averaging one percentage point of GDP per quarter, residential investments could actually add to the nation's gross domestic product in the third quarter, economists say. No one expects a renewed housing boom. But at least sales and construction spending aren't falling any more.

Signs of stabilization abound:

Home builders are gradually becoming more hopeful, even though surveys show most builders are still very discouraged. The builders' housing market index has risen in four of the past five months.

Housing starts have increased in four of the past five months after tumbling to a postwar record low. Building permits for single-family homes have risen at a 109% annual rate over the past three months.

Sales of new single-family homes have risen three months in a row after falling to a record low in March.

Sales of existing homes have risen four of the past five months, supporting by a government subsidy for first-time buyers and by sales of foreclosed homes.

Three of these key housing indicators will be released in the coming week, with the fourth arriving a week later. Economists surveyed by MarketWatch expect all four to continue to rise modestly. "Home sales and construction are still at low levels, but evidence is growing that they are past their lows and beginning to rebound," wrote economists for Moody's Economy.com. "Most influences on housing demand are still negative, but with the recession winding down it has become increasingly difficult to sustain the kind of weakness witnessed over the past couple of years." On the positive side: Prices have fallen, mortgage rates are relatively low, and first-time buyers are being subsidized. However, on the downside, jobs are still being lost, home prices are still falling, incomes are stagnant, and credit is still tight. The home builders' index will likely rise to 19 in August from 17 in July. The data will be released on Monday at 1 p.m. Eastern. The next day, the Commerce Department will report on July data for housing starts and building permits. The MarketWatch consensus calls for starts to rise about 2% to a seasonally adjusted annual rate of 596,000 from 582,000 in June. Builders are still deeply pessimistic as a group, but some are clearly finding it profitable to resume building, especially in areas that didn't overbuild during the boom. There are 281,000 new homes for sale, and it's taking nearly a year to sell a home built on speculation once it's been completed. Builders also have to worry about the inventory of condos and existing homes. "The excess inventory is gradually being absorbed," wrote David Greenlaw and Ted Wieseman, economists for Morgan Stanley. "However, the adjustment process will take some time to play out. So we look for only a modest pick-up in homebuilding activity over the near term."

Economists for Bank of America's Merrill Lynch believe starts have rebounded too quickly in recent months, given the massive inventory of competing homes on the market or waiting on the sidelines. They expect starts to drop to a 542,000 rate. The housing starts data are extremely unreliable on a month-to-month basis, with standard errors of more than 10%. However, the data become more reliable on a four-month average. The single-family building permits data are fairly reliable even on a month-to-month basis (standard of error of less than 2%). Sales of existing homes also seem to have found a bottom, but that may due more to artificial supports for buying than any fundamental strength in the market. In recent months, first-time buyers have accounted for a third or more of sales, helped by the government's subsidy. Distressed sales have also accounted for a large, but shrinking, share of sales. Economists think sales probably rose to a 5 million seasonally adjusted annual rate in July from 4.89 million in June.

For more economic news and information, please visit www.marketwatch.com

Friday, July 31, 2009

Stonegate Dream Home!

THIS GORGEOUS HOME HAS A LARGE SPACIOUS KITCHEN THAT OVER LOOKS THE FAMILYROOM & ENTERTAINMENT CENTER. THE DRAMATIC WINDOWS GIVE AWESOME VIEWS & THE HIGH CEILINGS MAKE THIS HOME FEEL LUXURIOUS. ROUNDED CORNERS ,PLANT NOOKS & LG LOFT ADDS TO ITS ELEGANTS

Sunday, July 12, 2009

Newly Listed at 5103 Miriam Lane, Parker, CO 80134

Offering the perfect blend of charm and character, this home features 4 bedrooms, 3 baths, and 1734 square feet. The street appeal of this home is obvious, as it’s one of the best looking homes in the neighborhood. The location also has its own appeal, as you are within walking distance to the local pool and park, the Cherry Creek Trail, and Ponderosa High School. The perfectly sized fenced lot backs to a greenbelt, and offers mature landscaping and a Trex deck for outdoor living.

This home is both comfortable for entertaining and for quiet family moments. There are two living spaces on the main level, separated by an arched opening. The family room offers a built-in entertainment area and cozy gas fireplace with tile surround. Spanning above this section is a panoramic picture window that bathes the room in natural light. The kitchen boasts gleaming hardwood floors, an abundance of oak cabinets with elegant crown molding, Maytag appliances, and breakfast nook.

The floor plan upstairs would appeal to anyone, with all 4 well appointed bedrooms on one level (two with high vaulted ceilings.) A huge time-saving benefit is the upstairs laundry room (where the laundry is!) The spacious master suite with double door entry could accommodate any bedroom set, and the 5 piece master bath includes large soaking tub and new tile floor. Don’t miss an incredible opportunity to own a home like this!

Other distinctive features include: New carpeting throughout, new lighting, new interior paint, new hot water heater, humidifier, electronic air cleaner, GE water softener, sprinkler system, air, family room wired for surround sound, six panel doors, security system, window well covers, and huge crawl space with shelves (that you can almost stand in) for extra storage.

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Newly Listed at 11926 Summerset Lane, Parker, CO 80138

This Is A Very Clean and Upgraded Home! One Of The Best Locations For Parking! Very Tastefully Deocrated! Newer Paint, Carpet, Doors, Plumbing & Lighting. New Windows, Ceramic Tile Floors, and Backs To The Green Belt. Corner Unit. Easy & Close Access To The Car. Location, Location! Close To The Pools & Parks! 2 Masters!

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Sunday, July 05, 2009

Denver is NUMBER ONE!!!!!!!!!!!!!!!! SO There!

Denver is America’s best city to buy a home, Forbes magazine says in a new ranking of U.S. metro areas.

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

New Listing 12654 S Silver Creek St, Parker, CO 80134

BEAUTIFUL GREAT ROOM, OPEN, AIRY, BRIGHT MUST SEE, SELLER KEEPS VERY TIDY AND CLEAN, WHOLE HOUSE FAN AND CENTRAL AIR! NEW ROOF, NEWER CARPET GREAT NEIGHBORHOOD 10 SEC WALK TO COMMUNITY CENTER,

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Monday, June 22, 2009

High Prairie Farms Dream Home!

Contemporary elegance and ultra-private seclusion define this stunning home in High Prairie Farms. Featuring 4 bedrooms, 4 baths, and 4459 finished square feet, this home is perched high on a 1.67 acre lot at the end of a cul-de-sac, and the grounds are pure paradise. Ponderosa, Spruce, Aspen, Gambel Oak and an assortment of wildflowers and perennial gardens are sprinkled throughout the lush park-like lot. Siding to a greenbelt and fronting to vast open space, privacy and openness are assured, and the views go on forever! Panoramic mountain, city, and lake views are captured from every window (even the lower level) of this home. Bingham Lake is a 10 minute walk away, schools are a few blocks away, and so is the Pinery Country club with pool, tennis, dining, and a 27 hole golf course.

If you value light and an open floor plan this home is perfect for you. This is the kind of home where you don’t have to turn on a single light during the day, because the vast windows bathe the home in so much natural light.

This Craig Bush designed home was carefully designed to maximize the entertaining possibilities and the picture-postcard views. A grand foyer with hand carved solid cherry front door, sweeping staircase, and glorious chandelier impress immediately. The living room offers 19’ ceilings, a wall of windows, and gas fireplace with black granite surround, and the formal dining room boasts a Murano Italian crystal chandelier. The island kitchen features an abundance of maple cabinets with handy appliance garages, cherry floors, Silestone counters and Jenn-air appliances. The delightful breakfast nook is surrounded by glass on all sides and benefits from the warmth of the double sided fireplace in Winter.

The master bedroom suite comes complete with a private east facing “morning room” that is blessed with 2 picture windows and a skylight, drenching the room with sunshine and warmth year-round (you may never want to leave!) It also features a second fireplace and Murano chandelier, and opulent bath with large steam shower, Jacuzzi tub, and private access to the covered deck set up for your hot tub.

Other amenities include:

-564 SF loft area w/bed, full bath
-1600 SF of deck
-Covered front porch
-Seasonal cedar-lined closet
-Open home theater w/surround sound and wet bar
-500 bottle wine cellar
-Drip system

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Unique Pinery Listing!

Uniquely Pinery with custom one-of-a-kind amenities, this stylish home will surprise, delight, and inspire! Featuring 5 bedrooms, 4 baths on 3 above-ground stories, plus a separate 484 SF workout area below the garage, a home like this rarely is available and must be seen to be appreciated!

It’s truly rare to find a home with a bank of windows as large and tall as in this great room, with over 20 windows that span from the wood floors to 29’ wood ceilings, bathing the top 2 stories in natural light. A custom free-standing copper/glass fireplace anchors one corner, and gleaming hardwood floors extend through the formal dining room and kitchen. The gourmet kitchen is completely new and boasts top of the line appliances expected in a house of this caliber. Granite tile counters/backsplash, stainless steel sink, Maple cabinets with two pantries and pull-out drawers, pendent lighting, Bosch dishwasher, Thermador gas cooktop, Advantium oven (uses 3 heat technologies to provide cooking in a fraction of the time,) and GE Profile convection double oven combine to create this dream kitchen. The main level bath is completely remodeled with gorgeous travertine tile and oil rubbed bronze fixtures.

The romantic master bedroom has cozy gas fireplace, vaulted wood-beamed ceiling with skylight, and private deck. The opulent 6 piece master bath is roomy with jetted tub, bidet and new lighting. The spacious rec room includes a unique glass barrel fireplace, wet bar, and home theater area. A heated solarium with built-in hot tub completes the lower level.

Stepping out of your home is where the true beauty begins. Nestled on a lush .28 acre lot backing to an expansive greenbelt, you will find a mix of 100 year old Ponderosas and some of the largest towering 45’ Gambel Oak you will find anywhere in Parker. You can drink in the stunning sunset colors or watch the deer play below from any of your 1600 SF of decking, which wraps around a majority of the home. If you cherish nature, this is the ideal house for you! And to top it all off its in the prestigious Pinery golf community.

Other amenities include:

-2 X 6 construction
-Central Vacuum
-Wood Casement windows
-Main floor bedroom with separate private sink
-Heat lamps in 2 baths
-Tile roof
-4’ crawl space for extra storage
-New high grade carpeting

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Sunday, June 14, 2009

New Listing 10742 E. Cloudberrry Drive, Parker, CO 80134

Offering luxurious accommodations and endless entertaining opportunities , this stunning home features 4 bedrooms, 5 baths, and 5224 finished square feet. Situated on a .29 acre estate-sized lot at the end of a cul-de-sac, this site is a lushly landscaped sanctuary with an amazing assortment of mature trees, shrubs and perennials, and completely private. A
covered 25’ X 10’ patio expanded with 383 SF of Trex decking creates the perfect outdoor living space for gatherings, and the expansive side lawn could easily accommodate a game of volleyball or croquet. The Challenger Park neighborhood is arguably the best location in Parker, with walking distance to shopping, parks, the Cherry Creek Trail and the Parker Rec Center, plus you are minutes away from E-470 and the Tech Center.

Like large spaces? There are million dollar homes in Parker that don't give you close to this kind of square footage. An open, flowing floor plan combined with enormous living spaces makes this residence truly extraordinary. The raised living room boasts 3 walls of large windows anchored by a handsome gas fireplace, and the high double-coffered ceiling adds drama and style. The family room off the kitchen is roomy with an abundance of large windows, fireplace, and built-in entertainment center. The gourmet kitchen will delight with Jenn-Air appliances, Maple cabinets, tile counters, large center island, and handy desk area.

A graceful spiral staircase takes you up to a generous 16’ X 28’ loft, which is the ultimate flex space; roomy enough for any pool table and more if used as a rec area, or as a fourth living space/home theater. The massive master bedroom has a formal sitting area and vaulted ceiling, and includes an opulent master bath fit for a king and queen, complete with his and her vanities, large soaking tub, and spacious master closet.

Completing this remarkable home is a 1116 SF basement complete with open home theater area, surround sound, bar w/full refrigerator, and lavish 3/4 bath. An unfinished area is currently used as a workshop, but could be finished as a 5th bedroom. Other amenities include: garden area, 2 air conditioners, 2 furnaces, wood blinds throughout, storage space galore, oversized 3 car garage.

Search the Denver MLS for Parker Colorado Real Estate -save searches or set up automatic email alerts yourself. Its simply the most accurate tool you can have for your home search!

Go to www.ColoradoHomeValues.net to check out recent home sales in your area!

Tuesday, June 02, 2009

First Time Buyers Get Even a Better Break! What About Everyone Else?

From: NAR Government Affairs
Date: 29 May 2009
RE: Tax Credit Guidance for FHA Loans Announced by HUD

In his speech at the National Association of REALTORS Housing Summit on
May 12, 2009, US Department of Housing and Urban Development (HUD)
Secretary Shaun Donovan announced a program that allows borrowers to use
the first-time homebuyer tax credit for a down payment or closing costs on
a FHA-insured mortgage. The Secretary said We think the policy is a real
win for everyone, ensuring that borrowers can tap into the numerous
organizations that are already part of the FHA network to receive this
additional benefit.

The details of the program were announced today in Mortgagee Letter
2009-15. Government entities and instrumentalities of government may
provide a second mortgage. Currently, 10 state housing finance agencies
offer a product buyers can use that will effectively monetize the tax
credit for down payment purposes. These states are Colorado, Delaware,
Idaho, Kentucky, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, and
Tennessee Get information on these programs at
http://www.ncsha.org/section.cfm/3/34/2920.. State Associations are
encouraged to work with their respective housing finance agency to
implement similar programs. The 3.5 percent down payment may also be a
gift from a family member, employer or nonprofit, charitable organization.

The original guidance permitted lenders and HUD-approved nonprofits and
lenders to offer bridge loans via second lien financing or short term
loans. Guidance released today allows lenders to offer the monetized tax
credit for down payments in excess of 3.5 percent, closing costs and
interest rate buy downs. Mortgage industry leaders have indicated that
this type of product may not be immediately available to consumers.
Lenders will need some time to develop documentation for what will
effectively be personal loans to the home buyer.

Read the HUD Mortgagee Letter at
http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME/LENDERS/MORTGAGEE_LETTERS/2009_MORTGAGEE_LETTERS/09-ML-15%20USING%20FIRST-TIME%20HOMEBUYER%20TAX%20CREDITS.PDF

For information on FHA contact Jerry Nagy at 202.383.1233,

Rates Are on the Rise! Did You Take Action For Something Better?

In case you haven’t heard, mortgage rates went up drastically Wednesday. To be specific, 0.50% to RATE in 1 day!

The main reason for Wednesday’s tsunami...OVERSUPPLY. The Treasury has literally been printing money by way of Treasury auctions to pay for the massive spending initiatives. Not to mention that these hundreds of BILLIONS of dollars of new Bond supply have to be absorbed by the market, so the additional supply literally weighs on the entire Bond market and drags prices lower. Also, when you think of supply, consider they myriad of refinances and all those loans have been bundled, packaged and sold on Wall Street. This additional supplyhas now started to hit the secondary market, as those closed loans are now getting turned around and sold. This supply also must be absorbed, and while the Fed has been a buyer, they simply can’t buy enough to balance all the selling. It’s Economics 101, anytime supply vastly exceeds demand, prices will move lower. As prices move lower, yields rise and that rise in yield will attract new buyers as they get a higher return on their investment. This process is how the market finds balance.

The question on everyone’s mind, will rates come back? The answer is that we will probably see some improvement, of which we saw a 0.25% decrease in RATE this morning. However, it will be difficult to see rates fight back to the levels they were at just last week. There are both fundamental and technical reasons why a retracement back to last week’s levels would not be easy. We are advising our clients to carefully float.

FHA ANNOUNCEMENT

It was just announced that the FHA will allow the $8,000 first time home buyer credit to be applied directly towards home purchase costs. More details to follow.

Remember, your clients never pay for an appraisal at RMA. We will refund any appraisal cost to your client at closing. Any market or loan related questions, please feel free to ask.

Sunday, May 03, 2009

NAR Chief Economist Speaks Out On Colorado Real Estate

Dr. Lawrence Yun, Chief Economist for the National Association of Realtors, recently spoke in Denver about the economy and home sales in particular. NAR has been lobbying congress about the importance of stabilizing home prices, which will then stabilize the assets of banks, insurance companies, investment firms, and individual homeowners. He is hopeful that the $8,000 credit to first time buyers will act as a strong stimulant to get these first time buyers "off the fence".

Dr. Yun showed statistics that demonstrate how much healthier Colorado's real estate markets are, especially when compared to the four problem states: California, Nevada, Arizona, and Florida. There is good evidence that Colorado has already bottomed out and should have a solid summer sales season. California, which has suffered a severe downturn, is now showing renewed activity. Lower priced California homes are selling well, with multiple bids becoming common. It may be at the "tipping point" where everyone jumps back into the market.

When asked about inflation, Dr. Yun said that inflation is inevitable, given the money being pumped into the economy, so interest rates will be driven up from their current, phenomenally low rates under 5.0%. Those that wait for home prices to drop or interest rates to drop further will probably miss the combination of low prices and low interest rates.

Colorado is a key growth market for real estate over the next 20 years. It continues to enjoy a strong net immigration rate, which should translate into increased demand for mountain resort real estate. He also talked about the influence of the baby boomers, many of whom are buying retirement homes. Mountain Realtors® have also seen the effect of the wealth transfer from the depression generation to the baby boomers, resulting in boomers buying mountain homes. While resort real estate sales have been slow the past couple months, there is pent up demand. The only real question is "when will the buyers get off the fence"?

Click Here for Dr. Yun's Presentation

Short Sale Heaven! Come and Get it!

GREAT OPPORTUNITY. GREAT LOT. STAINLESS S APPLIANCES. BEAUTIFUL FRENCH DOORS LEADING TO A LARGE PATIO. PRIVATE CUL-DE-SAC LOCAT ION. HUGE GREEN BELT ADJACENT TO PROPERTY. FINISHED BSMNT. VERY OPEN BRIGHT. WARM NUETRAL COLORS. READY TO MOVE IN.