Of course the festival is Kid Friendly, and offers a FREE arts and crafts area for the kids.  Artivity Avenue, is the reason my kids LOVE spending time at the festival (the Ice Cream doesn’t hurt either!)

For complete information, including Band Schedules, visit the official site of the Arts Festival here.

ShareThis

photo credit: TW Collins

Once you feel comfortable that you have a mortgage professional who can advise you, here are some secrets for shopping effectively.

First, just like anything else IF IT SEEMS TOO GOOD TO BE TRUE, IT PROBABLY IS. No one has a commodity on rates- interest rates all come from the same places, and if the rate sounds really unbelievable, ask a few more questions. Is there a prepayment penalty? Are there extra fees? What is the length of the lock-in agreement? If fees are discounted, is it built into a higher interest rate?

Second, YOU GET WHAT YOU PAY FOR. If you are looking for the cheapest deal out there, understand the risks, especially with the recent credit crunch you need a TRUE PROFESSIONAL on your side someone who is checking guidelines and is up to speed on the market changes. We have all heard the horror stories from friends and family about missed closing dates, or surprise changes at the last minute on interest rate or fees…usually due to working with discount or internet lenders who may have a serious lack of experience. Remember, the cheapest rate on the wrong strategy can cost you thousands more in the long run.

Third, MAKE CORRECT COMPARISONS. When looking at estimates, there is more to it than just the bottom line. You must compare apples to apples the Lender fees are the only costs that the Lender controls all other fees are third party costs. You may be familiar with the term “junk fees”. All Lenders have a fee to process your loan- simply the cost of doing business. Many Lenders have both a processing fee and a funding fee, typically these fees together do not exceed $1,200. If you see a number of other Lender fees listed I would ask your Mortgage Professional for more information.

A Lender is responsible for quoting the other fees associated with a mortgage loan such as title insurance, hazard insurance, appraisal, days of interest., ect.. Keep in mind since they are third party costs – they are often under-quoted up front by a lender to make their bottom line appear lower. Keep your eyes out for these discrepancies and be sure to ask questions about fees you do not understand.

Lately we have seen hidden discounts fees that are NOT included in the bottom line estimate. This hidden fee will appear in small print typed at the bottom of a good faith estimated “X” discount point to be charged ect… again- if it seems to good to be true it likely is.

Fourth, UNDERSTAND THAT INTEREST RATES AND CLOSING COSTS GO HAND IN HAND. A good way to view loans is either Cost, No Cost or Shared Cost– if you are looking for a no cost loan understand that this comes at the expense of a higher interest rate- there is no free lunch. It all depends on what your goals are.

For instance:

How long will you be in the property?

Are you close to retirement?

Is this your primary residence, 2^nd home or an investment property?

What’s more important to you right now cash on hand or a lower monthly payment?

Do you have any life changing events coming up a baby or kids leaving for college?

Is the seller paying any of your closing costs?

A professional advisor will be able to offer the best advice in terms of the balance between interest rate and closing costs that correctly fits your personal and financial goals.

Sample Analysis:

$250,000 Loan with 1% Origination Fee = $2,500 at 5.875% = $1,478.84 principal & interest payment

$250,000 Loan with 0% Origination Fee = $0 at 6.125% = $1,519.03 principal & interest payment

Difference of $40.19 per month divided by $2,500 = 62.20 months or 5.18 years to recoup my costs

Fifth, UNDERSTAND THAT INTEREST RATES CAN CHANGE DAILY, EVEN HOURLY. This means that if you are comparing Lender’s rates and fees – this is a moving target on an hourly basis. In order to have an accurate comparison – you must get these quotes within less than an hour of each other. Be sure the terms are the same- product and program. You also must know the length of the lock you are looking for, since longer rate locks typically have slightly higher rates.

As this is likely one of the largest financial purchases you will make- be smart, ask questions, and seek the advise of a professional advisor not just some one who will quote you the lowest rate out there.

ShareThis

Decorating your home to fit your lifestyle, and decorating your home to sell are VERY different! You may have displays of treasured collections, items you have picked up on your travels, or family memorabilia. There are two reasons to pack it all away when you put your home on the market. The first is that your display may be so interesting, that buyers pay more attention to it than your home. I did a consultation at a home that had a border of plates depicting different animals displayed along the top of the living room and dining room walls. I could just imagine the buyer’s focus directed at this collection instead of the features of the home. The second reason is for the safety of your possessions. The only way to guarantee that your belongings don’t get broken or stolen, is to pack them away out of sight.

What is a good rule to follow? Less is more! Do you have photos or artwork hung on every wall? This is a good place to start editing. Blank wall space allows the eye to rest, and makes it easier to take in the surroundings. It will also make a space appear larger. Remove anything hung on a wall, when that wall is less than two feet wide. Place artwork on the larger walls only. For tables, shelves, or other surfaces, stick with the “Rule of 3.” Remove all but three items from each table. For example—a coffee table might have a plant, a decorative bowl, and a large book. This rule works for the kitchen counters, or a fireplace mantle, too.

Remember, buyers will open closets and cabinets, and if everything is filled or overflowing, it will appear that your home does not have enough storage. Remove one third of everything in each closet, kitchen and bathroom cabinet or drawer, and pack them up. Is your garage or basement bulging at the seams? Buyers pay attention to these two areas, also. This would be a good time to clean out what you don’t want to move with you. You’ll be surprised at how much room you will have, and buyers will be impressed with the amount of space.

Getting your home ready to sell takes time and hard work, but when your home sells, you will be glad to have some of the packing already done.

ShareThis

photo credit: John Beagle

I just stumbled on a great site for Garage Sale enthusiasts. Whether you’re buying or selling this site is sure to be a great resource.  This site appears to aggregate Garage Sale info and post it in a tidy google map application.  Very cool!  Now you can make your own, optimized, Treasure Map.

http://gsalr.com

You can select your city, or state or zip code and GSalr provides you with a map showing where Garage, Yard, and Estate sales are being held.  For the chronic Garage Saler, there is also an option to receive a weekly email, showing where that weekends sales are being held.

If you are planning a sale of your own, you have the ability to add your sale to the site for everyone else to find!

I’ve included a link for you to find Denver Metro Area Garage Sales!

Happy Treasure Hunting!

ShareThis

Very family friendly, you can expect an awesome meal at a great price.  If you are looking for fancy italian food, and a big price tag, you will hate Dino’s.  If you want GREAT food, at reasonable prices, put it on your short list.

Some of my Favorites:

Meatball Sandwich.  Large homemade meatballs, on bakery fresh bread.  I promise, you won’t need anything else, it is large and delicious.

Spaghetti with homemade noodles, is also worth the trip!  I’m not sure why there are so few restaurants in the area that have the big, fat, homemade noodles.  But I am sure that I love them!  You can get either meatballs or sausage.

Lasagna.  This one of the specialties of the house.  It is a huge slab, and as good as you’ll find anywhere!

My kids love the Ravioli. Homemade, and stuffed with yummy goodness.  They also have a half and half dinner, where you get half Ravioli and half Spaghetti.  I would recommend this if you are having trouble deciding!

Every meal starts with a salad.  Don’t ask for anything special, because it is one size fits all!  Iceberg lettuce, some grated carrot, homemade italian dressing, topped with a pepper and breadstick.

Don’t forget dessert!  They have great pie!  My favorite is blueberry, a-la-mode, of course!

View Larger Map

• Address: 10040 W Colfax Ave, Lakewood, CO 80215-3908
• Phone: (303) 238-7393

ShareThis

photo credit: sosico

First and foremost in order to shop effectively you need to make sure you are working with a professional, someone who is interested in your goals and plans for the future. This is very likely your largest asset as well as your largest debt.

Ultimately what we are talking about here is a lien against your income – and what is the best way to manage that? You are looking for someone who can advise you not just quote rates and payments over the phone. Get a recommendation from your Realtor they often have professionals they like working with and have completed multiple transactions with in the past. Or it is always nice to have a warm introduction from friends or family especially when you are dealing with your personal financial well being.

Here are four simple things your Mortgage Lender MUST KNOW the answers to otherwise you need to seek another opinion.

What are mortgage interest rates based on?

Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. Often times the 10-year Treasury Note trends in the same direction as Mortgage Bonds, other times it moves in the completely opposite direction.

What is the next Economic Report or event that could cause interest rates to move?

A professional lender will have this at their fingertips.

Do you have access to live, real time, mortgage bond quotes? Mortgage Bonds and interest rates are moving in real time several times a day and you need to make sure you are talking with someone who will warn you in advance of a costly intra-day price change, Would you work with a stockbroker who is only able to grab yesterday’s paper to tell you how a stock traded yesterday, but had no idea what the movement looks like at the present time and what market conditions could cause changes in the near future? Of course not.

When The Fed “changes rates”, what does this mean… and what impact does this have on mortgage interest rates? The answer may surprise you.  When the Fed makes a move, they can change a rate called the “Federal Funds Rate”.  This is a very short- term rate that impacts things like- credit cards, Home Equity Lines of Credit, auto loans, etc… On the day of the Fed announcement, Mortgage rates most of the time will actually move in the opposite direction as the Fed change. Typically this is due to the dynamics within the financial markets in response to inflation.

FYI: PRIME is made up of the The Federal Funds Rate plus a margin of 3%. Today PRIME is at 5.00% = federal funds rate of 2.00% + a margin of 3.00% = 5.00%

I hope this helps you understand a little more about how interest rates work. Keep in mind rates are currently at 40 year lows now is an excellent time to learn more about purchasing. My next blog entry will highlight some more secrets for shopping effectively…

Look forward to your comments.

ShareThis

With the high cost of fuel, living near mass transit makes environmental and financial sense!  There are many great communities, and neighborhoods within walking distance to Denver’s light rail system.  The value of these properties will certainly go up as the cost to drive to work increases.  Click here to visit the Denver Regional Transportation District (RTD) site.

If you currently utilize Light Rail, or other Mass Transit, we’d love to have you comment about your experience!

ShareThis

photo credit: sego

If you are planning on selling your home, you might want to consider repainting the interior. Painting is one of the best ways to dramatically change the space, at a relatively low cost. But, the days of painting every room white are gone. An all-white house can easily be forgotten, since there is nothing to stand out in the mind of buyers. A perfect example of the power of paint would be in the condo or townhouse market. Since most units are identical, often the only thing that can make one unit more memorable than the rest is the color of the walls.

The question is what color paint do we use? The reason white was thought to be the best color is that white will go with everything, allowing the buyers to move right in. However, white is not very warm or inviting. Today’s savvy buyers are looking for more, and the answer is to go with other neutrals. Technically, the only true neutrals are black, white, and gray, which do not appear on the color wheel. The “new” neutrals are attained by mixing opposite colors on the color wheel. They range from beige, or tan, all the way to chocolate brown or slate gray, with a large array of shades in between. It is recommended that for small spaces, you stick with the light to medium value of these colors to create a more spacious-feeling area. And for those large, cold rooms, choose the darkest value of these colors to create a warmer and cozier space.

Creating contrast between wall color and trim color is a wonderful way to highlight architectural detail. Just be sure to keep the trim color the same throughout the home, to retain a sense of conformity. Painting different rooms’ different colors is acceptable, as long as you don’t stray too far in your color choices. That is where the neutrals are such good choices, because they do well together. All paint manufacturers offer a line of neutrals to take away that guesswork. As a home stager, one of my services is to assist sellers with their paint choices. There have been many homes, which after months of sitting on the market, sold quickly with just a simple change of wall color.

So, visit your neighborhood paint store and acquaint yourself with the “new” neutrals.

ShareThis

In Arapahoe County, the vacancy rate is 1.6%.

To view more, as reported by the Rocky Mountain News, click here!

What this means to the Real Estate Investor, is BUY!  When there is a large supply for purchase, and small supply for rent, you have a recipe for great returns!

Contact us today for information on becoming a Real Estate Investor!

ShareThis

Directly adjacent to Cherry Creek State Park, Village Greens features a playground, picnic tables, restrooms and a hike/bike trail which connects to the State Park.
View Larger Map

This park is located off Union Avenue and Dayton Street. Just West of the Dam Road.

ShareThis