You do realize this house is Under Contract, right? If you are the buyer under contract, I think your agent can best advise you. Trulia and similar sites are excellent tools for consumers, but are not the premier tools for pricing homes. There are many unqiue factors for any given house - location, orientation, updates, bathroom configuration. I don't think a website can accurately determine value. There are too many variables. A good agent will do a competitive market analysis and assist you in understanding the pricing of a property. According to the MLS - the house you are inquiring about has been under contract since the 18th.... more
The Boulder/Denver real estate market is experiencing Low Inventory, Excellent Interest Rates and quick movement. We could - could I say - be on the cusp of swinging from a Buyer's market to a Seller's market. As this change occurs, home values will lead - be higher than the previous sale. What was occuring for the past several years was that home prices were lagging - possibly showing at or less than the previous sale. This is a pretty excitime time in real estate. You might want to interivew some buyer's agents to find out about the market and whether the home just seems expensive or is truly a good value. When you purchase, you are entitled to have an agent represent your best interests, so why not find someone now!!... more
Your best bet would be to contact a lawyer, another avenue is to contact the bank directly and explain the situation, they may be able to help you. Consider purchasing, you can find a nice home for less then your paying in rent.
Michael Huffman - Realtor
Cherry Creek Properties
Cell: 303-525-8721
Email: mhuffman@cherrycreekpropertiesllc.com
Web: YourDenverHouse.com... more
I am in agreement with most of the areas named here. Of course, you might suspect I'm biased, but it is also true Boulder is at the top. Thank you Jack Richardson for mentioning Boulder.
Boulder has a slow growth policy - as does Louisville. There are other reasons, too, the recession spared the "college town." Boulder has a large high tech presence as well as big government employers. People pay more to be close to the stunning beauty of Boulder. The city often finds itself in the national spotlight so its hard to keep it a secret. In the last quarter, more million-dollar homes were sold in Boulder than anywhere else in the state.
Best regards,
Suz... more
Hello Andrurs,
Foreclosures are fairly simple to locate. As Tripp has indicated, the prospect of the house appearing on the market might be a long time coming, though. It is best to work with a real estate agent that has had experience in purchasing foreclosures. If that agent has some construction knowledge as well as familiarity with homes that have been prepped to remain vacant - even better.
With home prices rising, foreclosures may get a look from people who might otherwise have restricted there search to non-distressed properties. That means the pool of potential buyers may be growing this summer.
Best regards,
Suz... more
Hi Jaime The best place to live in Denver is where you and your family feel connected. Talk to those people who have your best interests at heart. If you are flying blind interview Realtors and pick their brain and their heart to see if they can offer you the connection needed. It requires a bit of a leap of faith but we know when someone is truly helpful to us. Good luck! Happy trails Tripp Young/Re/Max Pros... more
Amy Hoak of Marketwatch covered this topic.
There are two main justifications for an appeal, William Fall, chief executive of the William Fall Group, a national appraisal company said: Either the appraiser neglected to consider similar, recently sold properties in the final value, or the appraiser made a significant error or omission in reporting characteristics of the property that could affect value.
But remember, to make the case that a home improvement should have been considered in the appraisal, it has to be shown to be a major capital improvement, such as a new kitchen. It's a good idea to save records of these upgrades as proof.
The important takeaway from this article is consumers have a right to appeal.
No, I personally haven't done this. But, I have been successful in making a case with the lender. As the market has become a seller's market along the Front Range, the lender might be impressed to hear that there is a lot of interest in a particular property. Bolstering confidence in the market may take a while. By summer's end, things could improve.
Regards,
Suz... more
I have found that they don't all take longer. It depends on who the lender is. There are a choice few that are notorious for dragging out the process.Incompetent help and lousy systems. I've been working one recently that has a system that they claim makes the process go more smoothly and quickly. On the contrary. I upload documents to their system that they request and then weeks later they ask for the same documents. I look at the upload file in their system the the documents that I uploaded are no longer there. It's frustrating to say the least.I've then called customer service after no communication from my negotiator and found that one hand doesn't know what the other hand is doing.
I've also had experience with a couple of other lenders who portfolio their loans. Those are a snap. They typically give you an answer within days or a couple of weeks. I think we all know which lenders are the slow, slow, slow, incompetent lenders. Unfortunately, they have the majority of the short sales. That in and of itself is part of the problem.... more
Hi Mary,
I don't know if you've sold or are still thinking about it. The market has changed drastically since you posted your question. Right now, we are down over 40% in active listings to sell and sales and under contract listings are way up. If you'd like to sell, there's a good possibility that you would sell quickly and possibly sell for a higher price than you would have last summer.
If you'd like a free valuation on your home and to see the latest statisitics for your neighborhood, please let me know. It's becoming a seller's market out there.
303-913-9129 or mikep1@remax.net... more
I would suggest that you try a lender that I've used in the past. Tri State Mortgage. Call Frank Brock at 303-369-8000. He may have a loan product that could work for you. The other option for you is to get an 80% conventional and a 10% second mortgage. That would solve the 10% down issue as well. Rates are so low right now, it's a smart time to do this.
I work with many investors and am one myself. If I can help guide you further, please don't hesitate to contact me.
303-913-9129 or mikep1@remax.net... more
Daniel,
Good answer below by my distant relative, Susan. :) There is a good chance and there are lenders who specialize in working with these unique programs. I can get that information for you. You might consider purchasing a condo or townhome with the shortage of homes in your price range right now. The lender will also be able to check the status of the HOA and find out if the development is FHA approved in advance of making a commitment on a certain property. Good succes to you on your purchase. It certainly is better to purchase than to rent in most situations.
Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct โ 303-669-1246
www.theRobertMcGuire.com... more
Only a licensed agent or an attorney can complete a contract to buy and sell real estate in Colorado. If you want the Listing agent to put together a contract between you and the seller, you are asking for trouble. That agent would only represent the seller and would have no fiduciary duty to you, the buyer. The best thing about having an agent of your own is you are represented in your offer, counter offers, and at the closing table. Even if this isn't your first rodeo, you will have someone (paid by the seller) to give you answers to every conceivable question or problem that arises.... more
Hello, Steve,
You don't mention lot size, and most all suggestions here are talking maybe a quarter or third of an acre. I can put you in Littleton, 5 miutes to light rail, on an acre, and in your price range. Let me know if interested. Thanks!
Tim Klein
Broker
Metro Brokers - The Realty Werks
303.973.7600... more
Denver Agents,
I like all the answers below; but isn't there something in our Colorado ethics classes that says to be careful advertising or referring to certain areas as 'family oriented' or 'family friendly'? Just asking for clarification. Always like to be in compliance.
Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct โ 303-669-1246
www.theRobertMcGuire.com... more
Hi Austin,
I myself am a wholesale buyer and I represent many clients that are as well. If you have deals that you come across that make sense to flip, I can easily connect you with a buyer. I would be happy to educate you on the different ways to structure these deals as well so you can do them with little to no headaches. Its actually very easy! Finding the deals is the challenge.
Best regards,
Matt Barry
720-244-1903... more