I just don’t see it!

Yesterday I heard a guy on the radio telling the world how awful the foreclosures were here in Denver. A Realtor called to disagree saying he did not see it. The same “expert” claimed appraisal issues were a big thing. I agreed SIX MONTHS AGO! Today, for the first time in over 1.5 years Fannie Mae Home Path properties number less than 50 in Douglas County (that includes Highlands Ranch, Parker & Castle Rock).
Where is this crisis? In the media’s mind. They cannot find a story anymore so they use old news to create one, instill fear in us, the public whom they are supposed to serve (that is so twentieth century!).

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Denver Relocation of Arrow Electronics & GE Solar

If you know anyone with either of these two companies, they may want to know what Denver is really like in the winter. This is such a typical day in metro Denver CO.

I shot this video in Highlands Ranch which is about 600-700 feet higher (colder) than downtown Denver.

Please share this with any friends you may have at either of these organizations. Or if you know somebody who has said they want a home in Colorado.

Posted in Castle Rock, Centennial, Colorado, Denver, Denver Real Estate, Denver Realtor, Englewood, General Real Estate, Highlands Ranch, Littleton, www.DenverRelocation.com | Leave a comment

Buying up in a down market, very good timing right now in Denver

I have experienced this before, a down market like this, in the late 1980s. As a matter of fact, we bought our dream home from a builder then, and still live there. It was serendipitous, and completely the fault of 2 other clients, but you never know until you ask. Here is a video we shot at the recent Colorado Association of Realtors  Convention in Denver…

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Buying a home in Denver may depend on your loan application

Denver home buyers want to understand what is required for a loan. especially
as underwriting guidelines for lenders become more stringent, we need to re-examine what a good mortgage application looks like. As home buyers begin their search for a home, there are a few items they should be aware of that they can do to help get their loans approved (with the best possible terms), and, at the same time, lessen some of the stress that goes along with the mortgage process.

1. Income documents

Most lenders want to see a full month of paystubs and two years’ complete Federal Tax Returns. Assembling them ahead of time and holding on to every paystub you get is a good idea even before you find a home and/or submit your mortgage application because it will save you time later. Moreover, looking at those documents and being prepared to explain any deductions that show up is crucial. Child support, alimony, garnishments, and Unreimbursed Employee Expenses are often crippling factors that, if explained and dealt with upfront, can make your loan approval smoother.

2. Asset documents

Most lenders will scour your bank accounts for the two months prior to going to contract. They are looking for large deposits because large deposits can signal a new loan that wouldn’t show up on your credit report yet. What’s a “large deposit”? Typically, any deposit that would represent more than your income can support. If you make $5000 a month, after taxes you likely net $3800 (or $1900 a bi-weekly pay period). Therefore, deposits in excess of that will need to be explained and documented. Sold a motorcycle? Have a paid receipt and motor vehicle documents in place. Received a gift? You will need a Gift Affidavit, proof of the donor’s ability and transfer of the funds. Any and all questions should be discussed with your loan officer.

3. Credit Score Optimization

Do your best to curtail your use of credit as it relates to your available credit lines. Target a cap of 30% of usage of available lines to get the best scores. Do NOT cancel credit cards. That will lower your amount of available credit, thereby raising your percentage of usage. That will damage your score. Do NOT shop for a car, explore life insurance, apply for a new credit card or increase the limits on your current cards because the running of your credit by people in other industries will also lower your credit score. Most importantly, don’t do anything that will require having your credit run without first discussing it with a mortgage professional who knows the impact it could have.

4. Appraisal Concerns

It’s unlikely you will make an offer to purchase without checking out comparable home sales. It’s also likely you received that type of data from the real estate agent you are working with. Make sure your agent prepares the same information for the appraiser. Data about similar sales, similar homes currently on the market and maybe even cost estimates for any repairs or improvements anticipated can preempt future problems with appraised values and conditions.

Overall, it is recommended that you hold onto copies of everything financial, think before allowing your credit to be run and work with an agent and loan officer who can use their experience to put your loan application in its best possible light…as soon as you start thinking about buying a home.

Lori Richardson

Vice President
Cherry Creek Mortgage Company, Inc.

Posted in Castle Rock, Centennial, Colorado, Denver, Denver Real Estate, Denver Realtor, Englewood, General Real Estate, Highlands Ranch, Littleton, www.DenverRelocation.com | Tagged , , , | Leave a comment

Real estate listings advert rules

Yes there are disclosure rules on each and every real estate site. The State of Colorado has these rule and the National Association of Realtors does too.

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Denver Real Estate by Denver Realtor.wmv

The Denver inventory of homes for sale is down from January 1st, abnormal according to this Denver Realtor. Pete Doty Continue reading

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Christmas and the Grandchildren are coming to Denver

This Denver Realtor s 3 year old grand daughter is coming from Scotland with her folks to visit for Christmas. We are counting the days with great excitement (thank goodness for Skype) and frankly, I could stand to sell some more real estate to help pay for their trip. A three year old can really make you think though…WHAT DANGER LURKS in your Denver home?

Aside from fires, gas leaks, and spills, a lot of us are unaware of the other potential dangers in our homes in Denver. Either that or we have forgotten about the other possibilities because they tend to be rather small, or not as publicized situations. And by small, it does not mean that the consequences can’t be detrimental, it means that the incident just may not be as obvious or immediate as a fire or spill. It is true that virtually everything in a home can be seen as dangerous in one way or another, but there are definitely certain things that you should be careful of, and to do so does not involve much effort, simply just some awareness and memory. So to jog your memory, here are some common potentially dangerous things to beware of in your household. This information can be especially useful if children are running around the abode.

  • TALL & HEAVY FURNITURE. This is mainly for children, but for adults too – dressers, bookshelves and the like are privy to crushing people when being climbed on or knocked over. A quick fix would be to attach furniture to the wall.
  • CORDS. Not only are cords dangerous due to their electrical components, but if placed inappropriately can act as an object to trip over. Make sure your cords are organized and out of the way.
  • BATHTUBS. Like cords, bathtubs are dangerous in more than one way. People are very prone to slipping in tubs, so be sure to place a good mat in your tub. Secondly, if you have young children, watch them at all times while bathing to avoid drowning. This also goes for when preparing a bath for yourself – don’t leave a full bathtub unattended.
  • MEDICINES & CLEANING PRODUCTS. The same rule is applied to both medicines and cleaning products – do not leave them in reach of children and pets. They can be very toxic, harmful and even deadly. It is likely we have all been taught this rule, but it can be easy to forget when rushing around the house.
  • EXERCISE EQUIPMENT. Similar to the last tip, make sure exercise equipment is out of children’s reach. Heavy, mobile objects like weights can be tripped over or can be dangerous if a child decides to make them their new play toy. Also remember to clean your equipment after use because they can harbor sickness-inducing germs.
  • PESTICIDES & MOTHBALLS. While both can be very useful in removing unwanted pests, the chemicals in each can be very harmful in the long run. You may choose to limit use to when very necessary, find a safe alternate solution, or opt for not using them at all. It may be a small sacrifice to make in order to ensure good health.
  • HOLIDAY DECORATIONS. Some of us enjoy the twinkling lights of trees and a train dashing around the base thereof, but when the rest of the house is silent, little eyes, and hands are snooping. Make sure all the cords are properly tucked away, and if you have a tree, make sure it is secure.
Posted in Castle Rock, Centennial, Colorado, Denver, Denver Real Estate, Denver Realtor, Englewood, Fun things to do, General Real Estate, Highlands Ranch, Littleton, Trains, Uncategorized, www.DenverRelocation.com | Tagged , , , , , , | Leave a comment

Who sets VALUE for your Denver home

A Denver appraiser said today, “If you do not like the value of your home today, blame your neighbors. They sold too low.” Now they might not have been able to control, that but they did have to sign the contract. This Denver Realtor was at a continuing education class today and I heard that and “the last thing I look at to establish value is dollars per square foot.” Yet everyday, I meet folks who think that is the one measure of value for their home in Denver.

So who sets the value? Your Denver Realtor? The Appraiser? The Owner? Actually it is the market of homes currently available, as well as the homes that have recently sold. Distressed properties might be considered, however in the south suburban Denver area, there are very few. And the question is if the house can be purchased for less NOW because there are homes on the market at the lower price, then it could affect you.

An experienced Realtor can assist you in establishing the asking price for your home, not the value. A willing buyer has to bring you an acceptable “arms length” contract offer and then value is established.

The appraiser affirms that the price in the contract is a fair value for the lender to underwrite.

 I did get a couple of good tools too…one is www.comppull.com. Anyone can get an appraisal for  your purposes at a much lower cost than a full appraisal. No one visits your home and the interior details are not specified, but it is a great tool if you are thinking about re-financing, or about to put your home on the market. It does take 3-4 days to get your report. Another great tool is www.costvsvalue.com which is a cost versus value report.

Make sure to consult with a Professional Full Time Realtor to help you establish value. It may not be the right time for you to sell. OR it could be the perfect time to go find that new Denver Home.

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Tree Recycling Offered to Highlands Ranch Residents, Denver Realtor reports

With the arrival of fall, it’s time to prune your trees and shrubs. But before you place tree branches and other woody plants out for trash collection, consider recycling these materials at the Highlands Ranch Metro District’s recycling event Sunday, Oct. 9 from 9 a.m. to noon at the Shea Stadium parking lot, 3280 Redstone Park Circle.

Tree limbs less than 12 inches in diameter and woody plant materials will be accepted at the recycling event. The following items will not be accepted – finished lumber, non-woody material, grass clippings, sod and root balls. In addition to tree recycling, free mulch will be available to Highlands Ranch residents.

If you have questions about the proper way to prune your tree, visit the Metro District’s website at www.highlandsranch.org and go to the Parks & Open Space page. Metro District Forestry Technician Caleb Palmer demonstrates the proper way to prune your tree in a new video short featured on the website. If you have further questions it is recommended you contact a certified arborist.

The Metro District will also host a Christmas tree recycling event from late December through mid-January. For more information about tree recycling in Highlands Ranch, please call 303-791-2710.


Founded in 1981 as the local government in Highlands Ranch, Colo., the Metro District provides a variety of municipal services to this planned community of 93,000 people. Learn more about the Metro District at www.highlandsranch.org.


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Buying Up in Denver s Down real estate market


Denver Realtor, Pete Doty, tells how he moved up in a down market and why now could be your time to do the same:   1988 and 1989 were not my “best” years and yet they were good professionally. Personally my mom and step father both passed away. We were watching DC 7, rear engine, “T” tailed jets land (coming in over our house) at “Arapahoe County Airport”. We had a neighbor who parked his travel trailer straight across the street. And most importantly the school district was talking about having the 6th graders attend “middle school”. We had 7 & 9 year old girls who loved their friends, school and neighborhood. And housing prices were down as you can see from the chart to the left. We had both reasons to stay put and enough to want to leave.

Learn more>>>

Posted in Castle Rock, Centennial, Colorado, Denver, Denver Real Estate, Denver Realtor, Englewood, General Real Estate, Highlands Ranch, Littleton, www.DenverRelocation.com | Tagged , , , , , | Leave a comment