Home Mortgage and Finance

There are currently 211 blog entries related to this category.

What Do HOA Fees Pay For?

No one likes paying their HOA fees, but that pesky bill comes every month! I despise paying my gigantic HOA fee as much as any other condo-dweller, but it has come to my rescue on more than one occasion. Next time you have to fork up several hundred to your Homeowners’ Association, try to remember everything it’s doing for you…

  1. You don’t have to be Ruler of Rubbish

 HOA trash fee

HOA fees often cover some basic expenses, such as trash removal, water, and sewage upkeep. I don’t know about you, but I’m more than happy to pass any sewage-related hiring along to my Homeowners’ Association. Not sure what your fee covers? Simply ask!

  1. Things always look lovely

HOA Upkeep Fees

The cost of your HOA likely goes toward

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Do Millennials Hold the Keys to the Future of Homes?

Millennials Buying Homes in Denver

By Derek Schimmel
derek.schimmel@gmail.com

Do Millennials hold the keys to the future of homes? Mind the pun, but the fact remains: 18 to 34 year-olds make up the largest age demographic in the United States, and their innovations and ever-changing habits are altering the way we look at real estate each and every day. This is most notably seen in delaying what are widely regarding as some of life’s biggest choices — when to marry, have children, and buy a home. The latter on this short list seems to be taking a turn, as baby boomers’ babies are beginning to join the masses in the transition from renting to owning. And now that they’ve started, there is no end in sight.

In fact, the number of

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The Denver Post reported today that homeowners across metro Denver should brace themselves for notices of property valuation arriving soon in the mail that will weigh heavily on property taxes during the next two years.

How Much of a Denver Property Tax Increase?

That’s the news from seven metro-area county assessors, who on Tuesday held a news conference to announce spikes in median home property valuations, ranging from about 17 percent for single-family homes in Douglas County to 40 percent for all homes in Adams County.

In those counties — as well as in Arapahoe, Boulder, Elbert, Jefferson — Denver property tax increases will vary greatly, depending on factors such as neighborhood popularity, amount of new construction and affordability.

Denver property tax incrase map

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Published from The Colorado Association of REALTORS® Capitol Connection   We are excited to announce that a compromise on construction litigation reform was reached early Wednesday morning on HB-1279. This bill is sponsored by Representatives Garnett (D-Denver), and Saine (R-Firestone) and Senators Tate (R-Centennial) and Guzman (D-Denver). The bill was heard in the House State Affairs committee Wednesday afternoon where all six amendments that were agreed upon between stakeholders to reach a compromise were adopted. The bill also passed on second reading today in the House with one minor technical amendment. HB 1279 now has one final vote in the House before it goes over to the Senate for their consideration.      This has been a long…
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Great news coming out of the Colorado state legislature yesterday. As the Denver Business Journal reported, "After years of failed negotiations, business leaders and Democratic Colorado legislators finally have reached an agreement to move forward a bill that will reform construction-defects law."

With rising home prices and increasing concern about the lack of affordably housing in the Denver metro area, the bill aims to jump-starting what is largely a non-existent condominium construction market. Our data for the first quarter of 2017 illustrates the current condo market.

"Condominiums now make up less than 3 percent of the new housing stock in Colorado, and builders say they are unwilling to build because current law makes it too easy for

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first time home buyer denver

Good news for qualified veterans and first-time home buyers in Denver!

The Colorado Housing and Finance Authority (CHFA) is bringing back a popular program that pays home-owners back on their taxes in the form of a credit. That means qualified first-time home buyers can receive up to 20% of the mortgage interest they pay to reduce their federal tax bill. Buy a house, pay less taxes for as long as you own and live in the home!

The program, called the Mortgage Credit Certificate, is limited and requires buyers to apply. Talk with your agent about how you can use this loan program to find your dream home. Lender Josh Groner, with Universal Lending, can help out by explaining the program to interested buyers.

Josh explained that the program is

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buy a house in denver

When is the best time to buy a house in Denver in 2017? When I'm asked this question, it reminds me of the time I asked the grouchy guy at the nursery the best time to plant a tree. His response, five years ago. Five years ago would have obviously been the best time to buy a house in Denver but since most of us don't have access to time travel, tomorrow is the best time to buy a house in Denver. 

Between now and June, the average sales price for a Denver home is expected to increase by $40,000 with the majority of appreciation in April and May. April and May is when the most buyers will be out and we will see offers in excess of 20k over asking price on a very regular basis. Prices will reach their highest point in July, but this is from all…
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As 2016 has drawn to a close, the report identifies highs and lows in the housing market last year and how it compared to previous years.

“2016 will go down as another robust market defined by record-low inventories and record-high prices,” states Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent.

“First, housing inventory has been an issue as evidenced by historically low numbers for the past three years,” he said. In February, DMAR recorded 3,963 active listings at month end, representing the lowest number of any month since housing data started being tracked in 1985. December 2016 finished with 4,265 active listings, which was 68.9 percent less than the historical December average of 13,702, and beat the

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denver housing market 2017

What will 2017 bring to Denver's housing market?

We asked Megan Aller, our local housing stats expert and Land Title rep, to pull the numbers together for us yet again. You may not be able to go back in time and buy a couple of years ago when Average Home Prices in the Denver Metro area were much lower...but you CAN crunch the digits and decide if it might make sense to make a move in '17, before either interest rates or prices go up even more (or both)!

Last year, Megan had this to say.

The numbers are no less shocking this time around...and we've also got a new President moving into the White House that is sure to cause some impact as well.

Denver's demand doesn't look to decrease anytime soon, and it's just a guess as to what will

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5 Reasons to Sell Your Denver Area Home NOW

1. Don't wait for the weather to warm up to sell...beat the competition by listing now instead!

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

The #1 Reason to Sell Now… Not Next Spring | Keeping Current Matters

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense, especially since we are expecting these same inventory patterns to

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