My wife has a favorite saying, “Move is a 4-letter word!” Why in the world would someone purposely decide to compress their entire life into a stream of boxes and then carry all those boxes somewhere else? So from that starting point we have come to the conclusion that we are outgrowing our 2-bedroom condominium in Denver, Colorado. It is time to start looking for a housing upgrade, taking those steps to define our wants, search the desired neighborhoods, and determine how much money is available as …

Regulators are coming up with a proposal that will change some rules regarding appraisals as part of a settlement agreement between the Attorney General of New York, Fannie Mae, and the Office of Federal Housing Enterprise Oversight (OFHEO).  Although these “rules” will not become Federal Law, or Regulation, they will basically have the same effect.
Some highlights of issues that will negatively impact consumers are:

Real Estate Brokers and Lenders will not be able to give an appraiser any old appraisals, helpful data, or any other estimate of what a home …

Today from the Rocky Mountain News
Denver home prices fell 5.5 percent over the 12-month period that ended in February, which is less than half the 12.7 percent drop from 20 cities in the much-watched S&P/Case-Shiller National U.S. Home Price Index. View article…
Once again, as we’ve commented here many times, we may not be the ugliest kid at the party!
Men dressed as pigs frolicked outside the annual meeting of Richmond American Homes in Denver this morning, drawing attention to the role they say corporate home builders played in creating …

In terms of Denver, Colorado Real Estate, there may be a new definition to “Buyer’s Market.” 
The typical definition of a “Buyer’s Market” is one that says the conditions of the market place are more favorable to the buyer than the seller.  With the number of foreclosures still hitting the market, the mass amounts of publicity to the nationwide Mortgage Fiasco and the potential long term implications it is causing, it is easy to fall into the “trap.”
Unfortunately, many homebuyer’s in the Denver area are getting a not so pleasant wake up …

You may have seen this in your neighborhood. A “for sale” sign goes up in a yard, and after a long period of time, you notice it’s gone. Thinking that the home sold, you are then surprised to see a new sign go up, “for rent”. As “days on market” figures continue to climb and our economy remains sluggish, this is becoming a very common occurrence. So, why does a seller decide to give up on selling, and rent, instead? Of course, it’s all about …

Here are current mortgage rates for the Denver Metropolitan area. These rates change constantly, so they are subject to change.  I will post new rate information if these figures increase, or decrease dramatically.
Conventional 30 year fixed: 5.75%
FHA 30 year fixed: 5.75%
VA 30 year fixed: 5.75%
5 year interest only arm: 5.75%
Jumbo 30 year fixed: 7.875%
You’ll notice the market is not wanting to play on adjustable rate mortgages, and they are making sure to get a premium for the Jumbo loan programs.
If you have any questions about mortgages, or how to …

I wanted to pass along this great article about Colorado Foreclosures from the Rocky Mountain News.
Governor Bill Ritter and Senator Ken Salazar are urging Colorado Homeowners to use the free counseling hotline for those in the danger of Foreclosure.  The hotline connects homeowners with about a dozen nonprofit counseling agencies.  Since October of 2006, it is estimated the hotline has helped approx. 5600 families keep their homes.
Senator Salazar said those who call the hotline have found an 80% success rate in the re-negotiation of their mortgage contract.
To reach the Foreclosure …

Are you confused by all the advice you read about how to prepare your home for the market? I have come up with a very simple concept that most everyone can follow. Prepare your home as if you were throwing a party. Think about the steps you take when you entertain, and consider the buyers coming through your home as your party guests. Not into entertaining? Then, think back to a party where you were the guest and your host or hostess made you feel …

Here are some recently compiled market stats for March 2008. My market area is the South Metro Denver cities, including Denver, Centennial, Greenwood Village, Cherry Hills Village, Englewood, Littleton, and Highlands Ranch.
Big Picture (Covering the Entire Metro Denver Area) The figures are for single family residential properties only, and Do NOT include Condos, Land or Commercial data.
Total Closings for the Month: 2951, Down 11% from 2007, Up 21% from previous month.
Average Days on Market: 109, Down 6.8% from 2007, Down 2% from previous month.
Active Listings: 19,509, No Change …

Yearly reviews are a great way to keep on track with your financial goals. You’re probably already meeting with your financial advisor and other asset manager for quarterly or annual reviews, and you should do the same with your Mortgage Planner as well. An annual mortgage check-up is an ideal way to make sure your mortgage is still having the maximum positive impact on your overall financial plan.
A lot can happen in one year. The market can take turns that can open up new opportunities, such as …