Denver Short Sales and Why They Suck!
December 18, 2008 by Bob Schenkenberger · 7 Comments
I have been told on three different properties in the $200k-$250k price range that they are no longer accepting showings as they have multiple offers. In my case it was actually 5 or 6 offers on the property. Short sale properties are a huge pain in the backside for a buyer. I don’t mind being [...]
8 Perspectives on the “Bailout”
December 5, 2008 by Bob Schenkenberger · Leave a Comment
Here are some pretty funny cartoons portraying the Federal Government and the $700 billion (some think the total could be closer to $7 Trillion!) Bailout Plan.
Is it Economic or Psychologic?
December 5, 2008 by Bob Schenkenberger · 1 Comment
According to an article in the Rocky Mountain News, foreclosures will be down significantly in 2008 vs. 2007. There were 14 percent fewer completed foreclosures in the first nine months of this year compared to the same period in 2007, according to the report released on Thursday by the Colorado Department of Local Affairs’ Division [...]
The Fed ALMOST Got it Right!
November 25, 2008 by Bob Schenkenberger · Leave a Comment
The Fed announced today it will purchase up to $600 billion in mortgage backed securities issued by Fannie, Freddie and Ginnie Mae. As a result, 30 year fixed rates drop to 5.50%. This is great news! What isn’t such great news is that those in need of a “hand up” are NOT going to get [...]
Wall Street Screwed Main St. (and themselves!)
October 10, 2008 by Bob Schenkenberger · Leave a Comment
The subprime mortgage mess, and questionable lending practices may have started this debacle, but the Wall Street brain trust are to blame for the full blown financial meltdown. Greed and suspect ethics are the reason the financial infrastructure of this country is in a state of chaos. But instead of letting these companies be cannabalized [...]
Give me $85 Billion and I’d Throw a Party!
October 9, 2008 by Bob Schenkenberger · 2 Comments
I guess I’m not the only one. It’s really quite maddening! Check this out from the AP Thursday, October 9, 2008 WASHINGTON – Days after it got a federal bailout, American International Group Inc. (AIG) spent $440,000 on a posh California retreat for its executives, complete with spa treatments, banquets and golf outings, according to [...]
What it’s Like Dealing with Foreclosures & Short Sales
August 25, 2008 by Bob Schenkenberger · 2 Comments
I saw this video, laughed out loud, and immediately though that this is what I feel like dealing with the incompetence among the countries big lenders. Stonewalled and ran around, day after day, their actions and attitudes communicate an overwhelming aire of indifference! [Read examples from previous posts here and here ] If you are [...]
Investor Properties
May 28, 2008 by Bob Schenkenberger · Leave a Comment
photo credit: cioproject I’m witnessing an interesting trend. Investment property opportunities are much tougher to come by than only a couple months ago! Earlier this year, we were finding 2-3 properties per week that would meet our “Great Deal” or “Wholesale” criteria. That is, a property available for purchase at a price that was at [...]
Denver Real Estate’s Buyer’s Market…A New Definition!
April 28, 2008 by Bob Schenkenberger · 3 Comments
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 [...]
Colorado Politicians Pushing Foreclosure Hotline
April 21, 2008 by Bob Schenkenberger · 1 Comment
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, [...]