Denver Home Prices on the Rise

The Denver Business Journal reported today that prices of existing homes in the Denver area climbed a tenth of a percent in March from the previous month. This makes Denver one of just two US cities out of 20 in a Standard and Poors survey to see a month to month price rise.

To read the entire article, go to:
http://denver.bizjournals.com/denver/stories/2009/05/25/daily15.html?surround=elf

Just another piece of good news for the Denver housing market, and added incentive to those of you on the fence waiting to buy.

Later,

Allison

Denver - Top City on the Verge of Real Estate Turnaround

May 19, 2009 - Barbara Corcoran, a regular contributor and Real Estate expert for the "Today" show, named Denver as her top pick city on the verge of a Real Estate turnaround.

Click here to watch Corcoran's "Today" show segment on cities on the verge of real estate recovery.
http://www.gawkk.com/housing-markets-most-likely-to-rebound-fail/discuss

Later,

Allison

Big Improvement to First Time Homebuyer Credit

On Tuesday, May 12, Shaun Donovan, US Secretary of Housing and Urban Development, announced a major improvement to the first time buyer tax credit program. The FHA is going to permit its lenders to allow home buyers to use the up to $8000 tax credit as a down payment.

He says FHA's approved lenders will be allowed to "monetize" the tax credit through the use of short term "bridge loans". This will allow eligible home buyers to access the funds immediately at the closing table.

To read the complete article, please click on this link:
http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument

The Denver Business Journal reported today that Colorado home foreclosure filings and sales both dropped in the first quarter from a year earlier, a positive sign for the state's economy.

To read the full story, go to: http://denver.bizjournals.com/denver/stories/2009/05/11/daily5.html?surrounmd=elf

Later.

Allison

On March 24, 2009, Governor Bill Ritter signed House Bill 09-1091. The new law requires the installation of carbon monoxide detectors in the sale and rental of dwelling units with fuel fired heat or appliances, fireplaces or attached garages. The detectors must be installed if a property is offered for sale or if a change of tenant occupancy occurs after July 1, 2009. If you are planning to list your home after July 1, 2009, or if you own rental units that will change occupancy after July 1, 2009, you should be planning to comply with this new law.

Later,

Allison

Things to do if you get behind on your payments and/or are already in foreclosure:

1. Talk to your lender. Explain your situation. Ask for a temporary forebearance or a loan modification to make your mortgage more affordable. Do this BEFORE you are in foreclosure for best results.
2. Check out this HUD website for troubled homeowners: http://www.makinghomeaffordable.gov/ The site contains a wealth of information.
3. Call the Homeowners Hope(tm) Hotline: 1-888-995-HOPE and speak with a HUD-approved Housing Counselor
4. Help is FREE! Please Beware of Foreclosure Help SCAMS. If someone asks you for a fee - DO NOT PAY - RUN AWAY! There is never a fee to speak with your lender or a HUD-approved housing counselor.

Later!

Allison

OK. I have to add this link. If you, or someone you know, is on the brink of foreclosure, please click on this link. There's a lot of help out there for you, and you may be able to keep your home.

http://www.realtor.org/RMODaily.nsf/pages/News2009042203?OpenDocument

The management and all the agents at Keller Williams Realty @ Southlands are committed to helping people stay in their homes. Please contact me if you are unsure where to go or what to do. We can help. And our preference is to help you stay in your home, not sell it short or see it go into foreclosure.

Later...

Allison