Foreclosure and Short Sale Affect Ability to Get Mortgage
November 4, 2011 by Bob Schenkenberger · 1 Comment
When clients are facing foreclosure, the Get Home Denver Team counsels clients as to their options. These options include Selling the home if there is enough equity, loan modification, refinancing, bankruptcy, doing a “short sale”, and letting the bank foreclose. Of these, foreclosure and short sales are the most common. One of the most often [...]
HUD Suspending 90 Day Rule
January 18, 2010 by Bob Schenkenberger · 2 Comments
HUD’s 90 day rule was a condition put upon home sales stating that if the property was owned for less than 90 days, the owner could not sell it and offer FHA financing. The reason for this was to keep unscrupulous investors from buying low, and re-selling immediately for substantial profit. Investors, rehabbers, and the like, needed to wait a full 90 days before the resale could go through with an FHA loan.
BEWARE OF FORECLOSURE SCAMS
April 15, 2009 by Bob Schenkenberger · Leave a Comment
Hello all. Please read the following carefully and pass it along to anyone you know. There are many “Foreclosure Rescue” scams beginning to surface in light of the government’s moves to help prevent foreclosures. Here are some things to remember: There is never a fee to get assistance or information about the government’s Making Home [...]
Info That Hits Us Where We Live
March 12, 2009 by Bob Schenkenberger · 1 Comment
Image via Wikipedia The National Association of Realtors (NAR) Pending Home Sales Index, that tracks housing affordability, rose to a record level in January. This was a result of the combination of mortgage rates, family income and home prices in January were “the most favorable since tracking began in 1970,” according to the group. NAR [...]
Simple Math of Real Estate Markets
February 11, 2009 by Bob Schenkenberger · Leave a Comment
A few days ago the Rocky Mountain News published an article headlined “Worst January Ever For Home Sales.” What criteria they used to determine it was the worst ever was not disclosed. The Rocky simply broad stroked the criteria as “by many measures.” I would like to know what measures make this the worst ever. [...]
Bailout Cash to Benefit Homeowners?
January 29, 2009 by Bob Schenkenberger · Leave a Comment
The fed is finally trying to get some of the bailout money into programs that may benefit those most in need. I’m not sure if it will actually get there, but there seems to be a movement away from bailing out the banks, towards bailing out homeowners. This is a much needed policy change, as [...]
2009 Predictions and Promises
January 2, 2009 by Bob Schenkenberger · 5 Comments
Happy New Year! 2009 will bring with it some exciting opportunities in the world of Denver area, Real Estate. Predictions: Foreclosure and Short Sale Transactions will continue to dominate the Denver Real Estate Market. Those looking to buy or invest in properties will get better deals than anytime in the past 20 years. The inauguration [...]
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 [...]
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 [...]
Who’s the winner in todays economic world?
October 24, 2008 by Bob Schenkenberger · Leave a Comment
The First Time Buyer…. They have an opportunity to buy homes today that don’t have inflated values… They don’t have to wait for their home to sell… They have sellers willing to pay their closing costs and buy-down already low interest rates…. They are in the first “Buyers” Market in nearly 8 years…. They have the largest [...]