A huge down payment might not be necessary to purchase a Colorado home.

One of the most frequent things we hear as Real Estate professionals helping first-time homebuyers to purchase Denver area properties is the misconception that a 20% down payment is required to obtain a home loan. In fact, the majority of homebuyers needed much less cash in order to purchase their Colorado property.

A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the last several months.

The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with home purchases in 2016.

And an article by DS News points to…

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Bright, open and beautiful, all a block from Wash Park.

Condos this nice in a location like this don't come on the market often. Lots of windows and tall ceilings help to fill this home with natural light. The great room features comfortable contemporary style - hardwood floors and a fireplace with a very cool tile surround. There are solid quartz counters in the kitchen to go with stainless steel, high end appliances and more cool tile on the backsplash. The master suite is big and comfy, with a deep tub in the bath and lots of closet space. The second bedroom and bath are perfect for guests or roommates. Sellers are the original owners and have used this as a second home. As a result, here's a rare opportunity to own a superb home a stone's throw…

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Very rare opportunity to own a truly custom, modern home in RiNo. Attention to detail, down to the lighting and plumbing fixtures, is remarkable. Ceiling soars two stories in the great room, with huge windows letting in natural light and views of Long’s Peak and the city. Professional grade appliances, including a built-in Miele coffee maker, and marble counters in the kitchen, which marries form and function. Peaceful master suite on main floor with soft natural light and a well-finished, large walk-in closet. Oiled white oak, cork and concrete floors. Large ground level room with exposed brick is perfect guest suite or 2nd living space. 2 more bedrooms on the upper level are as modern and comfortable as the rest of the home. Spacious, secluded…

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In the past few weeks we have gotten a lot of calls and emails from past clients as well as friends + family who are totally shocked by how much their Colorado property's value...and property taxes...have gone up. We thought this was a good summary from the Denver Post. If you are thinking about protesting your property taxes 

Neighborhoods throughout metro Denver have recorded double-digit price increases, which reflects the region’s hot real estate market. The biggest percentage gains are coming in lower-income neighborhoods that lagged in past cycles.

The first steps for those who disagree with value placed on their home is to figure out how much the value should be adjusted and whether a protest has a chance of winning. And with a June 1…

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After that crazy hail storm dropped golfball size hail across the Denver Metro area yesterday, our Facebook and Instagram feeds got hailed on, too - with photos and videos of the damage that homeowners (and car owners) suffered due to the storm.

We did a little googling, and found this helpful article from our friends at Angie's List regarding How to Deal with Insurance Adjusters After a Hail Storm:

Thankfully, most of us don’t often have to deal with filing a homeowner’s insurance claim due to storm damage.  However, the consequence of this is that when the need arises, the learning curve can be steep.  

Because life’s too short to make all of the mistakes yourself, allow us to share the dos and don’ts of homeowners hail insurance claims.

…

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From the rare main floor owner's suite to the stunning views from every window...this lovely home has been impeccably updated from top to bottom. You'll love the huge gourmet kitchen, the 2-story fireplace, the award-winning landscaping, and the full finished basement. The wide open floor plan features soaring ceilings, gorgeous cherrywood floors and massive windows. The basement is beautifully finished making it the perfect game and media room. Cozy up to the fireplace on cold winter nights or have the gang over to watch the big game.

Westwoods Elementary School is right around the corner, and rises to top-rated Ralston Valley High. Hosting a crowd for drinks after the perfect round of golf, or watching the sunset with your favorite person...7091…

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The average price of a attached + detached homes that sold in April in metro Denver climbed to $439,161, up 3.41 percent from the month prior and up 10.53 percent year over year – reaching a new record high. Detached listings also hit a new average high, $487,974 - and is expected to climb to $500,000 over the summer.

“The price of housing is on a higher trajectory than wages, and the affordability gap in the middle is getting wider,” said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “Is this sustainable? In my opinion, no. A healthy market needs a good balance of buyers and sellers combined with modest price growth.”

Year-to-date average sold prices of homes in metro Denver through April has…

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With the low housing inventory situation that we have been experiencing in Central Colorado over the past several years, we have seen millennials who might be attracted to newer construction being forced to settle for homes that are older or smaller than they might have liked in the Denver area. 

This information from the Denver Post seems right in line with what we have experienced with our clients who choose to jump into a property that might not have EVERYTHING that they are looking for a home, and then investing in improvements that bring it closer to being their dream Colorado property:

Millennials like to play it cool when it comes to the home improvement project they request more than any other from contractors in metro Denver.

Local…

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Should You Get a No-Fee Loan?

“No-cost” and “no-fee” loans: you likely see promotions for them all around. Are these loans the real deal, and should you consider one if you’re looking to buy a house or refinance?

The answer is not such a simple one. While there are loans that technically offer no upfront fees, these loans are often misrepresented, and banking regulators have gone after lenders who misrepresent these loans.

While they may sound great at first, the reality is that no-cost and no-fee loans may actually cost the borrower more over the long term because costs are often hidden by rolling them into the new loan through higher principal or interest.

The rates on no-cost loans are usually about 1/2 or 5/8 of a percentage point higher than the…

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