With interest rates at an all time low (30-year-fixed as low as 3.5%), you may be able to afford more house now than even a few years ago.

If you’re ready to sell, give me a call. I can assist you in marketing and selling your existing property, while helping you look for your next dream home. I have a flexible commission structure and offer reduced commissions when you buy and sell with me. Call me; I would love to get started working for you!

Beyond that, focus on aesthetic touches that have broad appeal. Light or neutral-toned paint and new carpet go a long way toward helping potential homeowners feel at home. Replace fluorescent bulbs with 60-watt clear light bulbs. The super-bright bulbs makes rooms appear more spacious.Finally, one of the least expensive things you can do is clear the clutter. Store everything but your nicest furniture and belongings while listing your home. This will help your home look more spacious and has a remarkable overall effect.

9. I work directly with you throughout the process.

8. Professional home staging help.

7. Free, no obligation home valuation.

6. Free home warranty for Highlands Ranch homeowners while your home is listed for sale.

5. You’re ready to buy a home!

4. You’d like to see your home marketed in my next newsletter (see other side).

3. You like coffee – I’m buying; let’s chat.

2. You like your cash (I offer a flexible commission structure – what works best for you?)

1. And the number one reason…You’re ready to sell your home!

It’s no secret… now is a good time to sell. As home buyers take advantage of interest rates that are at an all-time low, inventory is also low and homes in the area are selling fast. Maybe you want to take advantage of low interest rates yourself, and you’re ready to upgrade to a larger house. If you’re looking to sell, buy, or both, give me a call and I’ll help you get started.

With so many real estate agencies on the line today, spotting a fraudulent one can often be difficult, especially if you’re dealing with a true conman who knows the industry. In this modern age though, it is becoming easier to stop fakes when it comes to agencies and their representatives. Here are a a few ways to spot a fake and save you your time and money.

No License

Your real estate agent should always be licensed and listed with the appropriate agencies. Check national databases because they should list the broker’s private license. If they work for a large company, the corporation also be licensed.

Always be wary of fake websites! Many scammers and con-artists know that they have internet savvy customers and often set up professional looking websites to keep up their scams. Always dig deep by checking the relator, knowing their name, and the state that they are “licensed” for. If you believe that companies need an even deeper check, you can always call the FTC (Federal Trade Commission) or BBB (Better Business Bureau) to verify their company is legitimate.

Advertising and Referrals

Be wary of ads on sides like Craigslist. These are often posts that sound too good to be true, so more than often, they’re not real. Scammers and con-artists often rely on the deal overriding your good senses.

When asking for referrals, if they either have none or give you too many, you should walk away. A good real estate agent develops a trusted circle of referrals as contacts. If your realtor is using an online ad agency, check for reviews from other users.

Most fake real estate agents often ask for money up front, whether they are selling a house or trying to have you purchase one. Before signing any agreements or handing over any cash, make sure you check licenses and if the intended property is really for sale. Real real estate agents generally work for commission, meaning they will receive a percentage of the house sale. They will generally never ask for money down rather than fake real estate agents who may try to hide it with terms like “initial investment” or “brokerage fees”. If any realtor asks for money down, always check their license.

Deals that sound “Too Good”

That’s because 99.9% of the time, they are. With market prices as they are, you should never take a deal at face value. Always know the market prices for the area and the type of home you’re interested in. Many fake agents will try and hoodwink you with “great deals” with extremely low prices because they’re not selling the property at all.

Skipping Negotiations

Fraudulent real estate agents often don’t want to negotiate because they’re only in it for the money from the security deposit. Don’t be fooled by terms like “one time only”, “best deal”, or by too low prices even in a market filled with foreclosures.

Excessive Eagerness

Many real estate agents often have several bookings for a single listing, you are just one of the many potential customers. If they seem far too eager to close the deal, you may have a fake real estate agent on your hands.

Extreme Pushiness

Scammers and con-artists know that they can be discovered at any given moment, so they will often try and push to close the deal as soon as possible. They often give you deadlines and consistently bug and badger you to close the deal, NOW. A true real estate agent know that clients need time to think and evaluate before they make such a large purchase.

By trusting your instincts and doing research will go a long way when it comes to protecting your money. If you are in the market for a home or selling yours, you need to know your stuff. Always do your research and consider contacting a trusted Highlands Ranch real estate agent today.

Since the beginning of the “Mortgage Meltdown”, to which Highlands Ranch was not immune, there have been programs to help people stay in their homes rather than lose them to foreclosure. Many of these programs were reactionary in nature and offered little help to most troubled homeowners. I personally know of several families that applied to their lenders and the government for help only to be frustrated with the paperwork, guidelines and process of receiving help. Even if they found their way through the maze of bureaucracy and received some sort of help, the programs did not address the root of the problem and people ended up losing their homes anyways. The real issue for most people is a loss of value in the home. The new Homeowner Affordability and Stability Plan could actually lower the loan amount owed by a homeowner.

Do You Qualify for Mortgage Help?

The devil is in the details.  You DO NOT have to be late on your payments to qualify. The new program is for homeowners that are unable to refinance with conventional mortgages because they owe more than the house is worth. The first criteria for the HAMP program is that your mortgage is underwritten by Fannie Mae or Freddie Mac.  You can enter your loan number on their site to see it your loan is with them. ( Fannie Mae ) ( Freddie Mac ) If your mortgage is with either of these agencies and you meet the following requirements, you should apply for assistance.

The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.

The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.

The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.

The current loan-to-value (LTV) ratio must be greater than 80%.

The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.

Highlands Ranch FHA Loans Underwater

FHA loans that are underwater are handled a little differently than Fannie Mae and Freddie Mac.  They call it a Principal Reduction Alternative Program.  The requirements are as follows:

Your mortgage is not owned or guaranteed by Fannie Mae or Freddie Mac.

You owe more than your home is worth.

You occupy the house as your primary residence.

You obtained your mortgage on or before January 1, 2009.

Your mortgage payment is more than 31 percent of your gross (pre-tax) monthly income.

You owe up to $729,750 on your 1st mortgage.

You have a financial hardship and are either delinquent or in danger of falling behind.

You have sufficient, documented income to support the modified payment.

You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.

( Information Taken directly from Making Home Affordable website )

Who Do You Contact for Help?

I suggest contacting your current lienholder and Making Home Affordable 1-888-995-4673 at the same time.  Send up the rescue flares and let everybody know that you need help.  I have heard that the mortgage servicers are more receptive when they know you have contacted the government for help as well.  It is a lot of work collecting the information that they request as well as making a case for your particular hardship.  Take it with a grain of salt and push through.  The chances are better than ever that you will get the help that you need.

Is 2012 The Beginning of a  Denver housing recovery?

I can remember back in 2005 when sales began to slow and prices stabilized then began to decrease. I could tell within 60 days that the market had changed and that we were in a downturn. I had no idea how deep and long it would be, but I knew something had changed. I get the distinct feeling that the real estate market is beginning to change again and this time for the better.

Home prices in Denver may increase but not the number of sales.

Our market is as simple as supply and demand. In recent months the number of homes and condos for sale has drastically decreased. One reports shows homes inventory in the Denver area is down 37% from last year for single family homes while condo inventor has decreased 50%. In addition to a decrease in inventory, there has been an increase in pending sales. I have had several clients in multiple-offer situations on homes already this year. Even crazier has been that the clients bid above the asking price on those homes and still came up short compared to other offers.

Interest Rates Remain Low on Denver Mortgages.

Another factor in our housing market has been low mortgage rates. I have seen buyers lock on 30 year loans below 4% on fixed rate mortgages. As rents continue to increase and mortgage rates stay low, it will continue to create demand on housing. For most people it is less expensive to buy a home than rent. I believe that when we begin to see a slight increase in mortgage rates there will be an even larger surge of people wanting to buy before rates get any higher.

Consumer Confidence and Jobs are beginning to help.

When people feel better about their future and the economy as a whole, they are more likely to make large purchases and decisions like buying a home. I think most of us are hesitant to say things are getting better but there is at least a sense that things aren’t getting worse. Even Fox News is optimistic on Denver’s Housing Market.

I understand that many of these reasons for an optimistic outlook are anecdotal. In 2005 I could not prove to anyone what was about to happen but I knew it in my bones. I feel the same way in my gut about 2012 being a turning point for the good. We will not know for sure until 2013.

It’s not a secret what my opinion is when it comes to living in Highlands Ranch; it’s a great move! There are plenty of reasons for my opinion on the matter; great schools, great community, safe and secure environment, open spaces, gorgeous homes, proximity to Denver, proximity to the mountains, and, of course, the best neighbors in the state! While I think that everyone should be OK with simply taking my word for it, I realize that for some, my word alone isn’t enough. That’s why in today’s post I’m going to bring in some third party opinions which I think solidify my belief that if you are thinking about living in Highlands Ranch, well, that’s good thinking!

CNN Money

In 2010 CNN Money rated Highlands Ranch as the 12th best place to live in the nation, and the second best in Colorado! CNN cites the town’s 8,100 acres of undeveloped land, 22 recreational parks, activities such as hiking, biking and golfing, as well as a strong school district and consistent home prices all as reasons for this impressive ranking. According to CNN, one of the World’s most trusted news sources, if you are considering living in Highlands Ranch, there are a ton of good reasons why.

GreatSchools.org

As one of the premier school rating sites on the web, greatschools.org lists over 200,000 public and private schools across the country, and uses reviews from over 800,000 parents, as well as other performance-based indicators (test scores, faculty ratings, etc) to rank each school system in the country. Needless to say, they are a high quality source for finding the nation’s top educational systems, and they rate Highlands Ranch schools a 9 out of 10! If you want the best possible education for your children (and what parent wouldn’t?) you simply can’t go wrong choosing Highlands Ranch.

Bestplaces.net

This site has a lot of great information pertaining to quality of life standards of towns and cities across the United States. They rank Highlands Ranch the “number 3 City on the Edge of Greatness”, citing the relatively low unemployment, the great school system, and the steady population growth as indicators of it’s greatness.

So, there you have it. You no longer have to just take my word for it when I say that living in Highlands Ranch is a great decision. If you are interested in finding out what Highlands Ranch has to offer you and your family, please give me a call today, and let The Kuchar Team help you get into the perfect Highlands Ranch home for you.

A Short Sale is the sale of a home where the owner owes the bank more than the property is worth. The bank is forced to either foreclose on the property or take less than is owed on the mortgage creating a “shortage”. Usually a person applying for a short sale has some sort of hardship that is causing them to no longer afford the home that they once qualified for.  The most common reasons for owners to consider a short sale is a loss of income due to unemployment or increase in expenses due to illness.  Another cause of short sales I come across is divorce.  When a divorce happens and the couple can no longer live together the remaining spouse is unable to afford the property with one income and they are forced to sell the home via short sale.

Falling Home Values Cause Short Sales

When I started selling homes in 1991 there weren’t any short sales.  Throughout the 90′s and into the mid 2000′s there weren’t many foreclosures so a short sale wasn’t really considered.  In most cases values were steadily increasing and people that had gotten into a distressed situation had enough equity in the home to sell it and walk away with money in their pocket.  It wasn’t until late 2006 and early 2007 that values began to decline and people were unable to sell them for what was owed creating the mortgage meltdown crisis of 2008.  One of the other contributing factors to the huge increase in short sales was the popularity of second mortgages during the early 2000′s.  Many people saw their home values increasing and pulled that equity out of their home using a second mortgage.  When values began to decrease, there wasn’t any cushion and people became upside down on their mortgage.

Short Sales a Good Buying Opportunity?

You need to know the facts prior to looking at a short sale in Highlands Ranch.  I have found that most short sales do actually close if the buyer is willing to wait for the bank to make a decision.  There are so many factors that can cause delays and frustrate both buyers and agents alike.  Much of the frustration is the result of inexperienced and untrained listing agents that take short sale listings without qualifying the sellers to determine whether they qualify or not.  When I represent buyers on these deals, I do a lot of education regarding the process and set the expectations low.  For the owner occupant that needs a house in 30 days these are not an option to consider unless the bank has pre-approved the short sale listing price.  For the investor that is patient and can wait, there may be some opportunities.  You can realistically expect a discount of some sort because it is a distressed property.  I would not expect drastic price reductions because the bank that holds the mortgage always does an appraisal to determine the value of the property.  If the offer is below their minimum acceptable offer, they will not approve the sale.  Just because an agent listed the property for a ridiculously low price does not obligate the bank to accept it.

If you want more information on selling your home through short sale contact me here.

List of Short Sales in Highlands Ranch

$244,520

MLS# 1138290

Save Listing

View Details

9560 Castle Ridge Cir

Highlands Ranch, CO 80129

3 Bedrooms, 2 Baths

Residential

Buyers & Sellers 1st Choice

 

$440,000

MLS# 1151831

Save Listing

View Details

10318 S Fairgate Way

Highlands Ranch, CO 80126

5 Bedrooms, 4 Baths

Residential

Cherry Creek Properties Llc

 

$314,900

MLS# 1151894

Save Listing

View Details

7005 Mountain Brush Cir

Highlands Ranch, CO 80130

4 Bedrooms, 3 Baths

Residential

D R Real Estate Inc

 

$370,000

MLS# 1131079

Save Listing

View Details

10061 Sage Sparrow Ct

Highlands Ranch, CO 80129

4 Bedrooms, 3 Baths

Residential

Innovative Real Estate

 

$358,000

MLS# 1145571

Save Listing

View Details

9802 Venneford Ranch Rd

Highlands Ranch, CO 80126

3 Bedrooms, 3 Baths

Residential

Recom Real Estate

 

< 1 >

Disclaimer and Terms

The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC. Real estate listings held by brokers other than Cherry Creek Properties are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. See Disclaimer

As a real estate agent in Highlands Ranch I get asked about foreclosures and bank owned properties all of the time.  The perception is that by purchasing a bank repossession you are automatically getting a great deal thousands of dollars below market value.  There are definitely opportunities to be had in buying these homes but much of it depends on what type of buyer that you are ( owner/occupant or investor ) and what type of bank is selling the property.

Investor vs. Owner Occupant

In recent years with the government involvement with Freddie Mac and Fannie Mae, the selling of these bank assets has changed.  Very similar to HUD Homes ( HUD Homes are FHA loans that have been foreclosed upon ) both Fannie Mae and Freddie Mac only allow owner occupant offers to be presented during the first 13 days.  If a property is in good condition and priced well, then most likely an owner occupant will purchase it during that time.  It is the governments attempt to offer these bargains first to people that are going to live in the property rather than an investor that would fix it up and re-sell the property for a profit.  HUD homes are offered to owner occupants during the first 10 days and investors can bid on them afterwards.  I often get calls from investors to go look at some property that was just listed for sale at a great value only to be disappointed because the bank will not consider their offer until they are past the owner/occupant first look deadline.

Financing for Foreclosures

The next thing to consider when buying a foreclosure is what type of financing that you will use during the purchase.  Many people that buy homes in Highlands Ranch use FHA financing because they only require 3.5% down payment.  This is a good option as long as the property is in good condition.  FHA loans require an FHA appraisal/inspection and has to meet or exceed certain conditional guidelines. If the property needs a new roof or the carpet is destroyed etc. then FHA will not give you a loan on the property.  Their reasoning is that they do not want to set people up for failure.  For many people just scraping up the 3.5% down payment is tough.  They do not have extra money for costly repairs.  There would be an even higher foreclosure rate among FHA loans if they allowed loans to be given on properties that they knew beforehand had problems.  Conventional loans require 5% or more down payment and are a little more lenient on inspection issues.  But you need to be realistic and ask yourself, ” Do I have the money to replace the carpet and roof if I buy this home?”  There are rehab loans available called an FHA 203K loan that allows a buyer to finance in repairs to the home.  I will get into the pros and cons of those loans in future blogs.

Is a Foreclosure a good deal?

The answer is: Maybe.  In Highlands Ranch and Lone Tree the average sale price is around $375,000.  If you can find a good bank foreclosure with very little work needed and with average square footage for 15-20% discount then yes it is probably a “good deal”.  If that property is outdated and needs carpet, paint a new roof and windows then I would say no it is not a good deal.  The investors understand that every project costs more than you budget for and usually takes more time and trouble to complete than anticipated.  To calculate the real costs to fix up a property, get three estimates for every job that needs to be done.  Average out those estimates and add 25% to the total and you most likely will have a realistic idea of the cost to complete.

I have experience helping people find foreclosures, short sales and regular sales in Highlands Ranch and would love the opportunity to discuss your needs and how we can meet them.

List of Highlands Ranch Foreclosures

$290,000

MLS# 1131455

Save Listing

View Details

5179 E Morning Glory Pl

Highlands Ranch, CO 80130

3 Bedrooms, 3 Baths

Residential

Mb Denver Colorado Realty

 

$399,900

MLS# 1153670

Save Listing

View Details

8751 Westwind Ln

Highlands Ranch, CO 80126

4 Bedrooms, 5 Baths

Residential

Era Herman Group

 

$332,900

MLS# 1153773

Save Listing

View Details

9538 S Burgundy Cir

Highlands Ranch, CO 80126

3 Bedrooms, 3 Baths

Residential

Westfall & Company Marketing

 

$466,500

MLS# 1154851

Save Listing

View Details

4900 Bluegate Dr

Highlands Ranch, CO 80130

3 Bedrooms, 3 Baths

Residential

Creed Smith & Company

 

< 1 >

Disclaimer and Terms

The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC. Real estate listings held by brokers other than Cherry Creek Properties are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. See Disclaimer