First Time Homebuyers Make Market Impact
November 8, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] According to the National Association of REALTORS most recent survey of Buyers and Sellers, first time buyers accounted for almost one half of all sales. The survey which covered the period of July 2009 through June 2010 revealed that a whopping 47% of all sales were closed by first timers! This is the largest [...]
October Real Estate Stats for Denver Updated
November 4, 2010 by Bob Schenkenberger · Leave a Comment
Here are the latest showing numbers from my office for the month of October. I closely track the showings per listing each month as it is one of the truest indicators what is really happening in the market place. As you can see, the showings per listing improved again last month, but still are lagging [...]
New HUD Program to Support Unemployed
October 7, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] *****NEWS RELEASE***** HUD ANNOUNCES ADDITIONAL SUPPORT TO HELP COLORADO HOMEOWNERS STRUGGLING WITH UNEMPLOYMENT 32 States and Puerto Rico Will Receive Funds Through HUD’s Emergency Homeowners Loan Program (DENVER)- U.S. Department of Housing and Urban Development (HUD) Regional Administrator Rick Garcia announced today that HUD will provide $41,286,747, to help struggling homeowners in Colorado through its [...]
Credit Requirements Continue to Tighten for Conventional Loans
September 30, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] With the tightening of the mortgage industry it is not surprising to learn that Conventional Lenders are mostly requiring a borrower’s credit report to be run twice. Once at the beginning for qualification and approval purposes, and once just before closing to make sure nothing has changed with the borrower’s credit status. Lenders are [...]
August 2010 Denver Area Market Stats
September 28, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] As a quick recap, August, 2010 combined MLS Residential Statistics had the following changes compared to August of 2009. Decrease in the Number of Closed Sales to 2,474 (down 19.3%) Average Days on Market remained unchanged at 94 days Number of Active Listings increased 16.6% to 17,837 Absorption Rate increased to 7.3 months (up [...]
New FHA Credit Guidlines
September 28, 2010 by Bob Schenkenberger · Leave a Comment
Just wanted to let you know that most investors are now requiring a score of 640 on FHA loans now. For now, CHFA still will allow to go below to a 580, but must pass the CHFA scorecard
$1 Billion to Stabilize Neighborhoods (HUD NSP Program)
September 8, 2010 by Bob Schenkenberger · Leave a Comment
PRESS RELEASE OBAMA ADMINISTRATION AWARDS ADDITIONAL $1 BILLION TO STABILIZE NEIGHBORHOODS HARD-HIT BY FORECLOSURE Third round of NSP grants to build on efforts to confront abandonment and blight WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today awarded an additional $1 billion in funding to all states along with a number of counties and [...]
FHA Increases Fees to Save Programs?
August 10, 2010 by Bob Schenkenberger · 1 Comment
[facebook_ilike] It’s no secret that the housing crisis has strained Fannie Mae, Freddie Mac and the Department of HUD. So, congress just passed H.R. 5981. This bill gives FHA the authority to adjust its mortgage insurance rates to increase funding to the FHA Mutual Mortgage Insurance Fund. This move will immediately begin to yield $300 [...]
$8000 Tax Credit Still Available for Military
July 9, 2010 by Bob Schenkenberger · 3 Comments
[facebook_ilike] The Get Home Denver Team is pleased to publish this post written by VA expert James Kelley. Homebuilders in Denver, CO are very optimistic about the local economy. According to a recent Denver Post article, builders are buying vacant lots all over Denver with the intention of constructing new homes to meet predicted demand. [...]
Denver Real Estate Market Statistics April 2010
May 12, 2010 by Bob Schenkenberger · Leave a Comment
[facebook_ilike] As a quick recap, while individual areas vary, April, 2010 combined MLS Residential Statistics had a number of positive indicators compared to April of 2009. Increase in the Number of Closed Sales to 3,308 (up 22.2% for the month) Average Days on Market reduced 22.5% to 79 days Number of Active Listings increased 1.3% [...]