Once your home is under contract, the ball shifts into the court of the buyer. Legally, buyers are allowed to walk away from a deal for almost any reason. As a seller, you need to play your cards right to keep a buyer in the deal, especially when negotiating an Inspection Objection. Saying no to requests from a buyer can…
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A recent article in The Denver Post exposed poor business practices regarding the ranking and promotional system at Angie’s List. With Angie’s List being known as a trusted source for quality vendors, this news leaves many landlords scrambling for where to go now. The article explains how the ranking of “top-rated pro” was only given to companies who paid Angie’s…
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Warmer weather and the freedom of summer has people feeling ready to move. Summer is one of the most popular times for real estate sales and gives you a good chance of selling fast. But, the Denver area market is shifting and sellers are having to compete for buyers more than in years past. Make your house stand out this…
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Inventory in the Denver area is on the rise which means more competition for sellers. You want your home to stand out to buyers as the best, so what do you need to do? You could hire a home stager to really wow buyers, but if you’re looking to maintain a high bottom line then there’s a lot you can…
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Since 2010 national rents have, on the whole, continued to steadily increase. This trend didn’t change in 2018 and we saw a year-over-year increase of 3.1% from December 2017 to December 2018 according to CoreLogic. The Denver area was above this pace. According to Rent Jungle, rents in the area increased by 4.18% year-over-year. In Denver proper, the average rent…
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You’re getting ready to put your home on the market, which means a move is coming. As a home seller, you have a lot of control over when you move, and you know that it’s coming up soon. Even two months can fly by before you know it, so it’s important to start getting prepared now so you can stay…
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Interest rates have been on the rise for a few years now and have done little to slow the market in the Denver area. In general, experts are expecting a slight slow down in the market as interest rates continue to rise. Some experts even expect interest rates to rise about 5% in 2019. So what does this mean for…
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It’s easy to enter the world of real estate investing, it really just takes the purchase of one property. However, there is plenty of room for mistakes along the way. It’s important to carefully consider all your expenses, stay organized and plan ahead to truly make this worthwhile. Here are 5 tips all new real estate investors need to know:…
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It’s no secret that the Denver market has been burning hot for years now. Experts have been questioning how long this burn would last and some are wondering if it’s come to an end. According to the Denver Post, Denver and other markets saw a sales slump and an increase in inventory at the end of 2018. Data from ReColorado…
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Selling your home is quite an undertaking. If you are looking ahead to next year and making plans to sell your home, it’s best to start prepping now. From a fresh coat of paint to a few trips to drop off items you no longer need, when you space out the projects over a few months it’ll be much more…
Continue Reading →In Boulder County, home prices have increased by over 40% in the past 8 years proving that investing in real estate is one of the best investments you can make. Shockingly, even with the growing housing market, over 40% of households in Boulder County rent, according to the US Department of Housing and Urban Development. Buying a home feels intimidating,…
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It’s easy to find tips on how to get your home ready for showings, but what happens once your home is under contract? As a seller, there is still some game playing to be done as in Colorado the buyer has a lot of power once a home is under contract. Here’s what to expect after your home is under…
Continue Reading →Purchasing your home was a big deal, but now it’s time to sell and you may be feeling overwhelmed. Home buying and selling is something that almost no one is an expert at, but it doesn’t have to be complicated. Just a few tips can save you countless headaches. Hire a Real Estate Agent You may believe that you can…
Continue Reading →Boulder County implemented BuildSmart regulations a few years ago and since then they have been tightening and perfecting the requirements for new developments. These building regulations are part of Boulder County’s Sustainable Energy Plan. All new developments in unincorporated Boulder County are required to follow BuildSmart regulations. Outside of the actual materials and inspection of the completed building, the BuildSmart…
Continue Reading →The Home Energy Rating System is the standard by which a home’s efficiency is measured and is the same nationwide. This can be good for a homeowner to obtain for many reasons, the first of which showing where modifications can be made to improve efficiency and lower energy bills in a home. But when you’re selling your home, is there…
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As a homeowner, you are the only person responsible for the health of your lawn, including your trees, unless you decide to hire a professional landscaper. When winter comes, many homeowners take a break from managing their plants outside because everything is in hibernation, but that may not be accurate. Here’s how to give you trees the water they need:…
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Earlier in 2017, Invitation Homes, one of the nation’s largest Real Estate Investment Trusts (REIT) went public. In addition to gaining billions in the capital market, they received a $1 billion interest-only loan from Fannie Mae. This loan was met with a lot of questions and outrage. People are concerned about Fannie Mae’s involvement in backing a company that buys…
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Once your home goes under contract, the ball primarily lies in the buyer’s court. They are legally allowed to walk away from the deal for almost any reason. This means you have to play your cards right, especially when it comes to resolving the Inspection Objection. You don’t want a buyer to turn away when you refuse to make repairs,…
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When you have a vacancy all you want is to fill it, and filled quickly but that doesn’t mean you should let just anyone in. Of course, you always need to comply with Equal Housing guidelines but there are plenty of reasons to say no to a tenant. It’s not worth having the risk of dealing with an eviction to…
Continue Reading →The Denver area real estate market is still going strong even after seeing a 2.75% decrease in housing prices from July 2017 to August 2017. Home prices in the area have still increased over 8 percent from August 2016. While the market is still turning over quickly, the Denver area is on it’s way to becoming a more normal market…
Continue Reading →Listing your home at the right price can feel like a scene out of Goldilocks and the Three Bears. Too high and you might be on the market for a while, too low and it cuts into your bottom line. So how do we pick the price that’s just right? Well, it’s more of an art than a science. Here…
Continue Reading →Smart home technology is all the rage, and while not everyone needs these additions many buyers will go the extra mile to purchase an already equipped home. You don’t need to install voice-activated light switches to help push your home over the edge, but there are a few updates you can make to bring your home into the 21st century….
Continue Reading →There has been a lot of talk recently about the low inventory in the Denver area, but how low is low? Let’s walk through the past 10 years of inventory levels to see just how low inventory is these days. In January of 2007, Denver had 41 months worth of inventory. In January, in the dead of winter when real…
Continue Reading →In the current Denver area market, it doesn’t take much to sell your home. Inventory is still low and homes are being snatched up. However, if you’re looking to get top dollar for your home there are a few important things to keep in mind, starting with your neighbors. Here are 5 things to know about your neighbors (and neighborhood)…
Continue Reading →Under Colorado law, all counties must reappraise real properties every two years. The Notice of Valuations (NOV) must be mailed to the property owners on or before May 1st, on odd numbered years (2017). The taxes will be for the following 2 years. The tax rates are set in December each year. For most properties, 2018 (Intervening tax year) taxable value…
Continue Reading →It’s almost spring, or so they tell us, and you may have started thinking towards the summer with dreams of outdoor gatherings, beautiful gardens and maybe a firepit or built in grill. Before you run to grab your shovel and head to your nearest home improvement store, let’s dive into some numbers and make sure you aren’t throwing your money…
Continue Reading →Each industry has its own jargon which can be overwhelming to those on the outside. Even having bought or sold a few times doesn’t guarantee you’ve heard and understood all of the lingo. To help you out in your real estate journey we’ve put together some common real estate terms (and a few uncommon but important ones) to help you…
Continue Reading →It’s time for another Denver market update. The winter/holiday season is historically very slow for real estate and we generally see a slight dip in home prices. So what does this season hold for Denver? Let’s take a look at the Denver market as of November 30, 2016. Number of New Listings – 967 in November 2016, down from 919…
Continue Reading →Many people consider buying a condo to be a good investment, one you could live in for a while and rent out later or buy outright as a rental property. Are these purchases really all they’re cracked up to be? Let’s take a look at the numbers for the Northern Denver area: 2015 Average Sale Price For Condo October 2015:…
Continue Reading →Denver area home inventory has been at historic lows since early 2012. The question all real estate professionals are asking is, when will it recover? Low inventory means higher prices, with some areas seeing increases in value as high as 7.6% within a year period. This means buyers are struggling to find a home they can afford and sellers are…
Continue Reading →This post describes how the property taxes are calculated and what are the timelines in order to appeal if your property tax seems too high. Property taxes are determined on odd-numbered years for 2-year tax periods. Property taxes determined in 2013 will be the taxes for 2013 and 2014 State statute requires that each property in the county be re-valued…
Continue Reading →The 15 real estate markets across the U.S. with the most “flash sales” recorded in the last five months, as compiled by Redfin. Flash sales are defined as homes going under contract within 24 hours Read more: Denver’s hot real estate market now seeing quick, 24-hour sales
Continue Reading →The Metrolist®, the Denver’s Multiple Listing Service, published a report titled “Denver’s Housing Market Continued to Recover in January Offering an Unprecedented Opportunity for Sellers“. The number of homes currently available on the market is at the lowest since 1990. “Year-over-year inventory levels continue to be low, home prices are up and average days on market (DOM) for Denver-area homes…
Continue Reading →Colorado Department of Local Affairs: For the second month in a row, all metro areas in Colorado, except Colorado Springs, are on the National Association of Home Builders’ Improving Markets Index. For much of 2012, Greeley, Boulder, and Ft. Collins were included on the “Improving Markets” list put out by the National Association of home Builders. The February list, released…
Continue Reading →Well,how did we do in 2012? I have wrapped up the highlights of 2012 in this short report full graphs and numbers. It includes information on the legislation front; rental market in Metro Denver, various vacancy rates by markets & dwellings, rent survey; Unemployment figures; Hiring; Home sales &Prices; new homes; and supply of homes on the market. Enjoy. 2012WrapUp
Continue Reading →Proud to announce that Metro RE Investment Group and Property Management is now a BBB accredited business.
Continue Reading →The Colorado Division of Housing has published it’s 3rd Quarter 2012 Foreclosure Report. After the peak of 2009, the foreclosures have been on a decline. The numbers for the 3rd quarter 2012 is down 23.6% over the same period in 2011. Please refer to the report for details and a quarterly graph of. A lot of factors are lining up…
Continue Reading →Standard & Poor Case-Shiller® home price indices track home prices of 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller® Home Price Indices are calculated monthly using a three-month moving average. This post compares the residential housing markets of Denver with the 2 composite indices. The data is from Standard & Poor CaseShiller®…
Continue Reading →The talk of the summer was the housing recovery. The supply of available homes have dropped sharply. The graphs below capture the state of the market – the sales and the median prices The graphs include Supply of Homes on Market, Sales, and Median prices for four regions and the nation. The historical data is directly obtained from the National…
Continue Reading →Yahoo Finance published an article on “Mortgages with No or Little Down-payments”. Homebuyers with little money for a down payment are finding more home loans available for a low down payment or even no down payment. 4 mortgages are listed: No down VA No down Navy Federal No down Department of Agriculture Low down: FHA Read the full article here.
Continue Reading →The latest data from Metrolist®, the largest real estate multiple listing service (MLS) serving Colorado real estate agents, show a continued strong real estate market in the Denver metro area. Read the full article here.
Continue Reading →Americans still favor home ownership. The U.S. home-ownership rate continues to remain around 65.5 percent, the U.S. Census Bureau reported late last week. The home ownership rate is nearly the same as it was in the second quarter of 2011 at 65.9 percent. Please read the full article in the Realtor Magazine. The peak was at 69.2% in 2004.
Continue Reading →An article from the Certified Distressed Property Expert (CDPE) website stating the additional evidence supporting the shortage in the housing market. It is more difficult nowadays for investors to pickup bargains. In the past the investors have been able to wait out the “preference” period given to home-occupant buyers. The HUD and many banks have a period of time giving…
Continue Reading →Housing starts jumped 6.9% in June to a 3.5-year high, underscoring the residential real estate’s slow recovery as a bright spot in a sputtering economy. http://www.usatoday.com/money/economy/housing/story/2012-07-18/housing-starts-june/56297966/1
Continue Reading →On 5/29/2012, the governor signed the House Bill 12-1237. The bill overhauls the record keeping requirements of Homeowner Associations mandated by the Colorado Common Interest Ownership Act (CCIOA). The following is not a legal advice but a summary of the requirements. The bill also talks about, among other things, privacy issues, inspection rights of unit owners and the procedures thereof….
Continue Reading →Effective April 9th, the FHA’s Mortgage Insurance Premiums will be increasing. The upfront premium, payable at closing, will increase from 1% to 1.75%. The annual premium increases from 1.15% to 1.25%
Continue Reading →Yet Another Bill Introduced, Senate Bill 12-162. “CONCERNING VERIFICATION OF REMEDIATION PERFORMED ON PROPERTY CONTAMINATED BY AN ILLEGAL DRUG LABORATORY”. Below are excerpts from the bill: (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary…
Continue Reading →REALTORS® are seeing favorable market developments but also expressing continued concern with issues related to lending and appraisals, according to comments and replies they’ve provided this month for the REALTORS® Confidence Index. See Housing Stats and Analysis from NAR’s Research Experts
Continue Reading →The Colorado Senate Bill 70 – 2012, creates the Uniform Residential Landlord and Tenant Act describing the obligations of both landlords and tenants as it relates to rental property and rental property agreements. The industry stakeholders including the Property Managers community, Colorado Apartment Association and Colorado Association of Realtors are in opposition to the bill. We are involved in and/or…
Continue Reading →HUD secretary announces equal access housing rule: A new rule took effect this week barring those who own or operate U.S. Department of Housing and Urban Development-funded housing from asking about an applicant’s sexual orientation or gender identity, an Obama Administration official announced Friday.
Continue Reading →The Denver Business Journal reporting apartment vacancies at a 12-year low confirming the trend with single family home low vacancies and higher rents. Denver-area apartment vacancies hit 12-year low for Q4 .
Continue Reading →The latest report from Colorado Department of Housing.
Continue Reading →The Westminster Economic Development Authority (WEDA) is purchasing Sears in the former Westminster Mall Per the Metro Denver Economic Development Corporation. The acquisition would add 7.8 acres to the currently purchased urban redevelopment site. WEDA purchased the most of the 105-acre site last summer. The vision for the new urban center is a mix of retail, office and residential. The…
Continue Reading →“The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.” See report Government Set to Sell foreclosures in Bulk
Continue Reading →HARP 2.0: What it is; What it isn’t
Continue Reading →Supply of homes and condos priced $250,000-and-lower stands at only 3.69 months reports Inside Real Estate News.
Continue Reading →Law & Regulations investors and managers should know: Risk-Based Pricing & Credit Score Disclosure HB10-1278 HOA Registration LBP Compliance Guide LBP Pamphlet Renovate Rights Pamphlet HB09-1276 Delayed Foreclosure HB10-1249 Expedited Sale Protecting Tenants in Foreclosure HB08-1356 Warranty of Habitability HB09-1091 Carbon Monoxide Law
Continue Reading →Standard & Poor Case-Shiller home price indices track home prices in 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average. This post compares the residential housing markets of Denver with the 2 composite indices. The data is from Standard & Poor’s Case…
Continue Reading →Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors®. Here is the full report.
Continue Reading →The threat of another economic downturn is stalling a housing recovery, Fannie Mae said in a report Monday.
Continue Reading →Both the foreclosure Filings and sales at the public trustees auctions are down for the year compared with the same period in 2010. The foreclosure filings were down 31.4 percent and sales at auctions were down 18.5 percent. The report was released on Thursday by the Colorado Department of Housing.
Continue Reading →Standard & Poor Case-Shiller home price indices track home prices in 20 major cities. It is divided in a 10-city and a 20-city composite indices. The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average. There is a two month lag. This report compares the residential housing markets of Denver and the 2 composite indices. The data…
Continue Reading →http://www.9news.com/money/216001/344/Foreclosures-made-up-31-pct-of-home-sales-in-
Continue Reading →The Denver Police new Crime Lab construction in full swing.
Continue Reading →The latest existing-home sales report from the National Association of Realtors shows the prices in the West region is down by 7% from July of 2010 to July of 2011. The number of transactions, however, is up by 12% for the same period according to NAR. The West region which includes Colorado lags the nation. Click here for the analysis…
Continue Reading →A new rule from the Federal Trace Commission aimed to deter deceptions in mortgage advertising. The rule imposes record keeping among other things on those impacted by the rule. “The Rule will impact real estate professionals that provide this information to consumers, such as giving a consumer a lender’s rate sheet.” According to the National Association of Realtors. Federal Register…
Continue Reading →Colorado Department of Housing has issued the Mid-year housing snapshot. Click here for the report. Or cut & paste the link below into your browser. http://www.colorado.gov/cs/Satellite?blobcol=urldata&blobheadername1=Content-Disposition&blobheadername2=Content-Type&blobheadervalue1=inline%3B+filename%3D%22midyear2011.pdf%22&blobheadervalue2=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1251731922239&ssbinary=true
Continue Reading →The Fair Credit Reporting Act (FCRA) was enacted in 1970 to promote accuracy, fairness and privacy of the consumer information collected by consumer reporting agencies (CRAs). There has been a number of amendments in using consumer credit reports to make rental decisions, specifically the adverse action notice. Dodd-Frank Wall Street Reform and Consumer Protection Act amends the FCRA to require…
Continue Reading →http://www.divisionofhousing.com/2011/06/home-sales-closings-denver-area-down-19.html
Continue Reading →http://www.divisionofhousing.com/2011/05/single-family-rental-vacancies-at-all.html
Continue Reading →“New single-family home sales fell again in the US, and in the West region, which includes Colorado. New home sales fell back to the lowest March total recorded in at least ten years. ” according to Colorado Division of Housing. http://www.divisionofhousing.com/2011/05/march-new-home-sales-still-at-ten-year.html
Continue Reading →http://www.divisionofhousing.com/2011/05/both-filings-and-sales-fall-in-march.html
Continue Reading →Here’s a breakdown of year-over-year median home-price changes for the Denver metro area in recent quarterly IAS360 reports: Q1 2011 (from Q1 2010) — Down 3.9% Q4 2010 (from Q4 2009) — Unchanged. Q3 2010 (from Q3 2009) — Down 3.1%. Q2 2010 (from Q2 2009) — Up 1.2%. Read more http://www.bizjournals.com/denver/news/2011/05/10/ias-home-price-decline-eases-in.html
Continue Reading →The city of Westminster plans to demolish the blighted Westminster Mall to develop a downtown for the 100-year-old community. Read more: Westminster Mall to be razed for a new downtown – The Denver Post http://www.denverpost.com/business/ci_17978568#ixzz1LO897KPg Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse
Continue Reading →http://www.divisionofhousing.com/2011/04/total-employment-in-state-continues-to.html
Continue Reading →The senate, this week, passed H.R. 4 repealing the extended 1099 reporting law that had passed in 2010. The 2010 law was requiring, among other requirements, that the landlords to file 1099 for anyone who had provided services of $600 or more. http://speakingofrealestate.blogs.realtor.org/category/property-management/ NAR Briefing on the Extended 1099 Reporting
Continue Reading →Senate Bill 11-234 would ban private real estate transfer fees, which have been added to homeowner association covenants during the development phase to fund an investment scheme cooked up by Manhattan-based Freehold Capitol Partners. The covenants are set up to require that a percentage of the sale price of a home be paid to a private 3d party every time…
Continue Reading →The New York Times: Mortgage Servicers will be required to bring in a consultant to investigate complaints by homeowners who lost money because of foreclosure processing errors in 2009 and 2010. In some cases the homeowners could be compensated. http://www.nytimes.com/2011/04/11/business/economy/11foreclose.html
Continue Reading →There is a shadow cast across the real estate market today in the form of real estate owned, or REO, properties that have accumulated in the wake of the foreclosure crisis. http://www.coloradoan.com/article/20110410/LOVELAND03/304100002
Continue Reading →Two national surveys on bank health have found that many Colorado banks are under more financial stress banks than other states and they may have a thinner cushion to absorb bad bank loans. 9-News Video Link
Continue Reading →The Denver-area housing market ranked No. 6 in January out of the 20 metropolitan statistical areas tracked by the closely watched S&P/Case-Shiller Home Price Indices. The data lags 2 months. Please refer to S&P Case-Shiller March Report.
Continue Reading →Taking part in discussions and correspondences with other property managers nationwide, the shortage of rental housing is not limited the metro Denver area. Other managers are seeing record low vacancies low vacancies in their respected areas. The metro Denver single-family vacancies are at all time low of 2.% The shortage seems to be evident in the supply of apartments. The…
Continue Reading →http://www.dsnews.com/articles/sales-of-previously-owned-homes-slump-96-2011-03-21
Continue Reading →The vacancy rate for single-family homes/townhomes and condos is at all-time low of 2% during the 4th quarter of 2010 according to the Colorado Department of Housing. The average number of days to rent such homes dropped to 38.2 days from 53.9 days in the 4th quarter of 2009. Click here for the full report.
Continue Reading →Colorado Department of Housing has published the 2010 Colorado Foreclosure report. The charts below show 2003-2010 stats for Colorado and the metro Denver area. The Denver metro includes the Denver, Arapaho and Adams counties. For other areas please refer to the actual report. The foreclosure filings are down, however, more homes are going to auction.
Continue Reading →2-day discussion on how medical marijuana is grown and sold. See Daily Camera article.
Continue Reading →Effective 1/1/2011 all rental property owners in the City of Westminster must register with the city and obtain a rental license.This registration must be completed by March 1, 2011. There are restrictions, licensing fee, and inspection fees applicable.
Continue Reading →HB-1278 – All Homeowners Associations governed by CCIOA (Colorado Common Interest Ownership Act) must, annually, register and pay the required fees, with the Colorado Department of Regulatory Agencies Division of Real Estate. This bill is effective 1/1/2011. All registrations must be completed online prior to March 1, 2011. The registrations must be renewed annually. An association is exempt from the…
Continue Reading →The Denver post reporting today that the commercial investment in Denver area has doubled this year over 2009. Full article is available at http://www.denverpost.com/business/ci_16938797
Continue Reading →Overcome the anxieties of selling | Inman News.
Continue Reading →Additional 1099 Reporting Requirement for 2011 — Landlords HR 5297 includes an expansion of the 1099 reporting related to a trade or business. Currently only the Property Managers are required to file Forms 1099 to reflect payments of $600 or more. Congress has extended the Form 1099 requirement to any person who receives rental income. This requirement would apply to…
Continue Reading →The Denver post reporting: Areas that avoided foreclosure mess earlier may be taking hit now – Homes in metro Denver neighborhoods that previously appeared insulated from the housing crisis are seeing a decline in prices as foreclosures and short sales tick up. Meanwhile, those communities that were hit hardest are showing signs of improvement. Read full article: http://www.denverpost.com/business/ci_16353602
Continue Reading →The Denver Post published an interesting article on how big the problem with bedbugs has become. The bugs have become resistant to typical household pesticides since the ban on DDT and homeowners are resorting to the use of toxic outdoor chemicals to combat the critters. Read the article here.
Continue Reading →“We look at the very low vacancies among rental houses, condos and townhouses. We also note that average rents have not kept up with inflation” says Colorado Division of Housing. See Video.
Continue Reading →On September 27, 2010 H.R. 5297 (Small Business Jobs and Credit Act of 2010) was singed into law. There are tax breaks and SBA loan improvements included in the bill. Read More.
Continue Reading →September 30th is the deadline to close on the homes purchased by Apr 30th tax-credit expiration date to earn the tax-credit. There were two variations to the tax-credit, one for the homes purchased in 2008 and one for those purchased in 2009. For homes purchased in 2008, the tax-credit was $7,500 and only applicable to the first time homebuyers. The…
Continue Reading →Aug new-home sales unchanged. Full Report Here.
Continue Reading →More on Vacancies Dropping from Colorado Dept of Local Affairs – Housing Division. “The second quarter’s vacancy rate is the lowest second-quarter rate reported since the report was started in 2004.”
Continue Reading →Colorado Dept of Local Affairs – Housing Division’s Housing Snapshot August report is out.
Continue Reading →Homeowner Tax credit ended 4/30. There was a mad rush in March and especially in Apr to have the contracts in place by the 4/30 deadline. All the contracts had to be closed by end of June (then, extended to end of Sept because of overload). I expect a slow rest of the year and early 2011. The National Association…
Continue Reading →The Denver post reported yesterday Denver Metro home sales is down 26% compare to a year ago. This is expected as the homebuyers tax credit ended in April. All those contracts were to close by June 30 (now extended to end of September due to overload). The Denver Post Article.
Continue Reading →Gain from the sale of a primary home is tax exempt up the $250k/$500k (singles/married) limit but not if the house is rebuilt and sold. The tax court ruled that in this case (Gates, Tax Court No 1) the owners did not live in their rebuilt house 2 years out of the 5 years prior to the sale as is…
Continue Reading →CNNs Money “Best Places To Live” List http://money.cnn.com/magazines/moneymag/bplive/2010/top100/ Highlands Ranch, Broomfield, Ft. Collins, Loveland
Continue Reading →Metro REIG is on Facebook. www.facebook.com/MetroREIG
Continue Reading →Denver has adopted the new zoning code effective June 25th. The zoning map designates the zoning district for every property. At this link you will find the new zoning code map & the former chapter 59 zoning map, history, case status, and a lot more info. Here is another link to Denver zoning code and more.
Continue Reading →Colorado Association of REALTOS®: “The Environmental Protection Agency (EPA) has delayed the enforcement of the new Lead: Renovation, Repair and Painting rule to provide time to get more remodelers and other contractors trained – and for EPA to get the word out to consumers about the importance of hiring a certified remodeler, according to the National Association of Home Builders…
Continue Reading →Denver has a new zoning code. Opponents are concerned that it will be too restrictive and harder to navigate than the existing code. However, creators of the new code say it’ll be just the opposite. They feel the new code will be easier to use, and allows for more options for how and where businesses and homes will be built…
Continue Reading →The tax court ruled that co-owners of a principal residence are eligible for full $500k exemption ($250k each) just like married couples provided each had lived at the home 2 years out of the 5 years prior to the sale. The IRS auditor had allowed $125k each (Hsu v. Commissioner of Internal Revenue , Tax Court Summary Opinion 2010-68). Currently…
Continue Reading →April’s 12800+ job addition negated by May’s 10,200 losses per Colorado Department of Labor. Unemployment rate is at 7.7% compare to 8.2% a year ago.
Continue Reading →Earlier reports had shown Denversingle family home vacancies have dropped and rents are up. Now, the same is true for apartments Per CO Dept of Housing. This is encouraging news. The housing and employment are directly related. Although employment is still lower than the levels of 2009, in April Co added 12800+ jobs. See the June Housing Snapshot
Continue Reading →Three senators (Harry Reid D-NV, Johnny Isakson R-GA., Christopher Dodd D-CT) have proposed to extend the tax-credit closing deadline to September 30th from June 30th. The extension is for those homebuyers who have qualified for the tax credit and also have had their contracts in place by the April 30th deadline. National Association of Realtors estimates that about 75,000 homebuyers…
Continue Reading →The 3.8% Medicare Surtax on the sale of a primary home (in general on investment income) effective in 2013 applies to very few people.1) The net profit from the sale of the primary residence must be over $250K for singles, and $500K for married. Any amount over those is classified as investment income and is subject to capital gain tax…
Continue Reading →Bank of America offering loan modifications to 10,000 homeowners starting in late June. It applies to homeowners who have missed at least 2 payments and owe 20 percent or more than their home is currently worth. Only certain types of loans issued by Countrywide Financial Corp. qualify for the adjustment. More at MSNBC Business ..
Continue Reading →No hiccups please, 30 days to go. April 30the was the deadline for tax-credit contracts to be in place. All those contracts must CLOSE by end of June for the homeowners to claim the tax-credit. It seems 2 months is plenty of time nonetheless home buyers and their agents must stay on top of things.
Continue Reading →1Q2010 Metro Denver area residential homes & condos vacancy rate dropped to 3.1% (5.5% for 4Q2009), average rent increased to $1,035 ($1,016 in 4Q2009) according to Colorado Department of Local Affairs. Full report.
Continue Reading →The Denver Post published an article yesterday (5/23/2010) that the City of Arvada my change or ease a fire safety code that is hindering the resale of some homes. The code is part of the 2006 International Property Maintenance Code adopted by the City of Arvada and other metro-area cities. The code disallows the sale, lease, disposition of non-conforming homes….
Continue Reading →Mortgage applications fell sharply in week ending 5/14, according to NAR. Tax-credit ended at end of April.
Continue Reading →The National Association of Realtors reports that the median sales price for existing homes increased in 91 of the 152 metropolitan in the 1st quarter of 2010 over the same period in 2009. Denver prices increased by 16%, Boulder by 2.2%
Continue Reading →Under Current Home Value tab: get an instant, computer generated price for your home, recent sales in the area, other homes value, etc OR request a detailed assessment.
Continue Reading →February Existing-Home Sales Decline, Inventories Higher but Improvement Over a Year Ago Existing-home sales declined slightly in February. The decline continues after peaking in November. The sales slipped 0.6% nationally to a seasonally adjusted annual rate of 5.02 million units. However, it is 7.0% higher than February of 2009. The home prices are also more stable than a year ago….
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