FHA announced yesterday that FHA buyers will be able to use the $8000 tax credit toward their down payment. Along with the low interest rates, this is the best time ever to be a first time buyer! For more details on this recent annoucement, check out the link below: http://www.realtor.org/press_room/news_releases/2009/05/re_summit
Carbon Monoxide Detector Law in Colorado goes in effect 7-1-2009
The recents deaths from carbon monoxide poisoning in homes has prompted the state legislature to create House Bill 1091. In short, if you are going to be selling or renting a property after 7-1-2009 you will be required to have a carbon monoxide detector in the property. In fact, our listing contracts will be changing as of […]
Loan Modifications
I have had many inquiries about the possibility of modifying mortgage loans. A loan modification is the changing of terms of the loan, such as the interest rate. When a lender has to go all the way through a foreclosure process, it gets very expensive. To lower the interest or adjust the payment structure can […]
RE/MAX International Convention
Wow! Convention week here in Las Vegas! I’ve only been here one day and am overwhelmed with new ideas on how to help my clients in this market. I’m always amazed how few agents from my area actually attend the convention. I come every year and still don’t feel like I am 100% up to […]
FNMA Loan Limits increase!
Everyday has news in the real estate financing world. The conforming loan limit in Boulder County is now $460,000 instead of $417,000. While this won’t be much help for the upper prices ranges, it is a step in the right direction for helping getting homes sold.
Boulder CO in Top 20 House Price Appreciation
Boulder CO Standard Metropolitan Statistical Area ranks 17th in house price appreciation, out of 381 SMSAs. According to www.ofheo.gov, for the end of the year 2008, the Boulder SMSA had 2.99% appreciation. If you’re wondering where #1 is……..Decatur AL at 6.58%. It is interesting to note that the Boulder SMSA also includes Longmont. Longmont has had […]
More Good News for Boulder County
The Boulder County Foreclosure rate is reported to be the lowest in the Denver Metro area. For Colorado, foreclosures were down 16% in 2008, compared to 2007. There could be a variety of reasons for this. The foreclosure hotline mentioned earlier in this blog could be helping. In Boulder, the market just stays stronger, even […]
Vacancy Rates in Boulder are the lowest in the metro area
The Apartment Association of Metro Denver just published in their Member Directory a vacancy survey through the 3rd quarter of 2008. the survey is compiled by Gordon Von Stroh. In the 3rd quarter of 2008, the lowest vacancy rate reported was 1.1% in the area around the University of Colorado. The rest of the city […]
Changes to First Time Home Buyer Tax Credit!
The first time home buyer tax credit was increased from $7500 to $8,000 AND the repayment feature was dropped if the buyer holds on to the property for at least 3 years. This credit is only for first time buyers, defined as someone who hasn’t owned a home in the last 3 years. The income […]
Real Estate Investor Financing-FNMA back to 10 properties
FNMA announcement! Recently FNMA had cut back real estate investor financing to a maximum of 4 properties per investor. Today, they announced that they are going back to the old rule of 10 per investor. This is a huge move, enabling qualified investors to absorb many of the unattended foreclosure properties across the country. This […]