Category Archives: For Buyers

TIps and information to help Buyers understand the buying process and the Denver Metro real estate market.

Are You Thinking About Getting Flood Insurance?

With the recent flooding here in Colorado, you may be wondering if you should have flood insurance on your home.  Below are links to some articles on flood insurance that may help you decide:

 

Visit houselogic.com for more articles like this.

Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

Brand New Homes for Low-Income Buyers!

I have recently taken two listings with the Adams County Housing Authority!

The Neighborhood Stabilization Program (NSP) is winding down and now Adams County only has two remaining homes available.  They are set aside for low income homebuyers- meaning the annual household income for the buyers for these properties, cannot exceed the limits listed below (based on household size):

Household Size Maximum Annual Income

1 person- $26,400         2 people-  $30,200          3 people- $33,950

4 people- $37,700         5 people- $40,750           6 people-  $43,750

The properties are two sides of a brand new duplex in Commerce City.  The addresses are:  6694 E 72nd Pl and 6698 E 72nd Place. Each property is a two-story home with 3 bedrooms, 2 1/2 baths, open floor plan with pergo floors throughout the main level, fully fenced yard with sprinklers & storage shed.  The floor plans for each are mirror images of each other and they are done in neutral finishes.  Both homes are Energy Star rated so utility bills will be lower than comparably-sized homes.

They are priced and advertised at their appraised value ($162,000).  However, the seller expects to provide assistance to prospective buyers to help make the homes more affordable.  For example- the NSP Assistance amount could be used to buy down loan principal and/or interest rates to make the payment much lower than it would normally be for a home at the $162,000 price point.  The Assistance amount can also cover the Buyer’s closing costs.

Buyer must be an owner occupant.  Also, the buyer is required to have their own minimum down payment for their loan type through some other non-NSP source (personal savings, down-payment assistance program, etc..) and must have at least $1,000 of their own money into the purchase.  In exchange for the assistance, the buyer would sign a Deed of Trust and Promissory Note for the amount of the assistance.  There are no payments on the Note, no interest accrues on the balance, and the balance is forgiven on a prorated basis at 5% forgiven each year of the first 20 years the buyer occupies the home as their primary residence.

Photos of the properties can be found on this website under the tab for each property address (6694 or 6698 E 72nd Pl).

Adams County Housing Authority has further information about the NSP program on their website at www.AdamsCountyHousing.com .  Interested parties can also look up the properties by their MLS numbers on public home search sites (like  http://www.recolorado.com).  MLS numbers for each property are:  #1226695 and #1226765.

Thank you for your help in getting the word out on these properties!  I am sure some lucky buyers out there are going to love these homes!

Please contact me if you have any questions!

OPEN HOUSE- Sunday 09/01/13!

staged Front Photo

You are invited to an open house this Sunday for 8265 Acoma St (See the page for this property above for property details and photo slide show).

The open house will be Sunday, Sept 1, 2013 from 1:00pm to 4:00pm!  Guess the price at which the property sells, and win a $50 Visa gift card (must attend the open house to enter)!  See you there!

June 2013: Denver Metro Real Estate Stats

There were almost 12% more homes for sale in June 2013 than the previous month of May. Perhaps this is in response to the shortage of homes for sale compared to last year (number of home available this June was 16% less than June of 2012). But even with more inventory this month, we are still seeing homes “flying off the market” compared to last year (the number of days on market is about 43 days- which is 40% less time than last year in June). And good news for sellers- the average sold price of a home in the Denver Metro Area is still on the rise. The average sold price of homes sold in June was $349,339 for Residential Dwellings (Detached & Townhomes)- that’s up 7.66% over this time last year! For Condos- the average sold price in June was $198,040- an increase of 9.07% over last June!

 

Source: Denver Metrolist, 06/01/2013-06/30/2013.

June 2013: Sales in The Ranch & Ranch Reserve

Attached Dwelling Listings

Type Price Status SqFt Style Beds Address Office
ATD $233,000 S 2178 2 Story 3 2367 RANCH Dr CBR54
 

Total Number of Attached Dwelling   Listings: 1

Residential-Detached Listings

Type Price Status SqFt Style Beds Address Office  
RES      $320,000 S 3542 2 Story 4 11240 QUIVAS Loop BC001  
RES      $325,000 S 5312 1 Story/Ranch 4 11482 Quivas Way MBD2X  
RES      $765,000 S 5807 2 Story 5 2877 W 115TH Cir REM12  
 

Total Number of   Residential-Detached Listings: 3

 

Total Listings Reported (All Types): 4

 

Source:  IRES data 06/01/13- 06/30/13.  Properties above were listed or sold by the real estate brokerage offices shown.  Information is deemed reliable but not guaranteed.

May 2013: Sales in The Ranch & Ranch Reserve

Attached Dwelling Listings

  Type Price Status SqFt Style Beds   Address Office
  ATD $90,000 S 856 1 Story/Ranch 2   2978 W 119TH Ave MBGOL
  ATD $150,700 S 1275 1 Story/Ranch 2   2927 W 119th Ave 102 0RWST
  ATD $171,000 S 2031 1 Story/Ranch 2   11585 DECATUR St D 1HOME
  ATD $177,000 S 1396 1 Story/Ranch 2   2883 W 119th Ave 204 0153B
  ATD $213,000 S 2178 2 Story 2   2229 RANCH Dr CC123
  ATD $228,000 S 2178 2 Story 3   2285 RANCH Dr MBN61

Total Number of Attached Dwelling Listings: 6

Residential-Detached Listings

  Type Price Status SqFt Style Beds   Address Office
  RES $320,000 S 3616 Tri-Level 4   11224 QUIVAS Loop MBN17
  RES $332,000 S 2757 Tri-Level 4   2336 W 118TH Ave M1558
  RES $356,250 S 3670 2 Story 6   2657 W 118TH Ave KWR30
  RES $445,000 S 5520 2 Story 5   11420 QUIVAS Way MBN41
  RES $690,000 S 4529 1 Story/Ranch 5   2184 W 116TH Ave M1842

Total Number of Residential-Detached Listings: 5

 

Total Listings Reported (All Types): 11

Source:  IRES data 05/01/13- 05/31/13.  Properties above were listed or sold by the real estate brokerage offices shown.  Information is deemed reliable but not guaranteed.