Denver Area – No Where to go but UP!
July 8, 2008 by Bob Schenkenberger · Leave a Comment
PMI, Private Mortgage Insurance, is required on most mortgage loans in which the borrower has less than a 20% equity position. These insurance companies charge the borrower a premium to benefit the mortgage lender in case of default. Part of their insurance rate analysis includes an in-depth analysis on the potential for property value decline. Obviously, a large concern for everyone today.
From The PMI Group, Inc.
Risk scores translate directly into an estimated percentage risk that home prices will be lower in two years. The Summer 2008 Risk Index is based on first-quarter Office of Federal Housing Enterprise Oversight (OFHEO) data.
The Great News, Denver is one of only only 14 areas in the country, with a less than 1% risk of prices dropping in the next two years!
To see the other 13 areas, click here.
Bob has been an active REALTOR for Over 20 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@gethomedenver.com) or phone (303.770.1180.)
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