Buying a Colorado Property.

Found 183 blog entries about Buying a Colorado Property..

 If you’re a homeowner with a mortgage, paying off your mortgage early may be an excellent way to dodge interest over the years, saving you thousands over the length of your mortgage.

However, before you begin prepaying, talk to your lender to see if there’s a prepayment penalty on your loan, as well as a financial advisor to see if your additional payments could accrue more in an investment fund.

If prepaying your mortgage seems like a smart move, take these steps to get started.

Bump up your monthly payment.  An extra few hundred dollars a month can seriously decrease your overall interest over the length of your loan. Or, if you get a pay raise, include that extra income percentage into your monthly payment.

Make one
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The most recent data shows that the average length of time someone lives in their home reached 11.3 years in May 2019, a 10 percent increase compared with a year ago.

First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released First American’s proprietary Potential Home Sales Model for the month of May 2019.

May 2019 Potential Home Sales

  • Potential existing-home sales increased marginally to a 5.20 million seasonally adjusted annualized rate (SAAR), a 0.4 percent month-over-month increase.
  • This represents a 54.8 percent increase from the market potential low point reached in February 1993.
  • The market potential for existing-home
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Sitting between their millennial children and baby boomer parents, Generation X appears to be hitting their stride as they take on a new milestone: their 50s.

As such, Gen Xers are looking ahead to their next stage of life. According to a recent survey by Del Webb, America’s leading builder of active adult communities, Gen Xers who are celebrating their 50th birthday are looking forward to retirement.

Until they get there, they are enjoying their careers, building larger nest eggs and even getting ready for their next big move, which may require enough room for their boomer parents.

“It is hard to believe that start of the Gen X demographic is turning 55 and are closer in age to retirement than to when they were first introduced to grunge,”

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For the first time in a long time, Denver’s bustling real estate market has slowed.

The top line: The steep rise in prices is slowing and there are more houses on the market.

That’s making it easier for buyers like Philip Wang, who was looking for a bigger house for his growing family this spring.

Wang, a marketing operations manager for a medical device software company, lives in a fairly large house in Arvada — more than 2,000 square feet — but the bad layout made it feel small.

“A wife, kid and a dog, and sort of getting a little cramped,” he said.

He and his wife found the place they wanted in Westminster, and they pulled off a feat that used to be almost impossible: they sold a home and bought another at the same time.

“We thought this

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Sales of existing homes fell for a second straight month in April, but the market should rev up soon, the National Association of Realtors (NAR) said on Tuesday.

Home sales dipped 0.4% from March to a seasonally adjusted annual rate of 5.19 million . Sales were down 4.4% from a year ago.

Student debt is still holding back many millennial buyers, says Lawrence Yun, NAR's chief economist. And prices for the entry-level homes that age group targets have risen sharply because of low supplies.

Meanwhile, a big drop in mortgage rates didn’t boost home sales. The average rate for a 30-year, fixed-rate mortgage dropped to 4.14% in April from 4.27% in March, according to Freddie Mac, the mortgage loan company. The average rate in 2018 was 4.54%.

Yun

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After piling in when the market was hot, investors are facing losses from homes that take too long to sell.

Sean Pan wanted to be rich, and his day job as an aeronautical engineer wasn’t cutting it. So at 27 he started a side gig flipping houses in the booming San Francisco Bay Area. He was hooked after making $300,000 on his first deal. That was two years ago. Now home sales are plunging. One property in Sunnyvale, near Apple Inc.’s headquarters, left Pan and his partners with a $400,000 loss. “I ate it so hard,” he says.

A new crop of flippers, inspired by HGTV reality shows, real estate meetup groups, and get-rich gurus, piled into the market in recent years as rapid price gains helped the last property crash fade from memory. Many newbie

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Where is housing headed in the Denver Metro Area?

Although of course she doesn't claim to have a magic crystal ball, Megan Aller of First American Title and A Girl and Her Graphs dug deep into the data this month to make some predictions:

Based on previous years in this cycle (2013-2018) the values in these Housing Heat Maps represent the best times to be in the market in 2019. 

(Yellow represents a Seller's Opportunity, and Blue represents a Buyer's Opportunity.)

The market is likely to favor those sellers who are ready to take advantage of early buyer activity. 

Sellers late to the market in the summer months are more likely to spend longer on the market, make price reductions and sell at lower prices than spring sellers.

Buyers are most

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A growing number of Americans who lost their homes to foreclosure or a short sale during the housing crisis are re-emerging in the housing market and buying a home again, USA Today reports. 

“Boomerang buyers,” as they’re nicknamed, are coming back, and some economists contend they are a critical component to driving a big uptick in the housing market over the next few years.

“I think the next phase of the housing recovery will be partly driven by people in the primary age group” of 35 to 64 who have been hesitant to buy again after losing their home during the housing crisis, Kwame Donaldson, an economist with Moody’s Analytics, told USA Today.

Lately, first-time home buyers and millennials have been driving the bulk of sales. First-time home

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Metro Denver’s apartment market got off to a strong start this year, as tenants absorbed all the units that hit the market and then some, pushing up rents and driving down vacancies.

According to the Denver Post, Developers delivered a robust 3,959 new units in the first quarter and tenants absorbed an “impressive” 5,552 net units, according to the Denver Metro Apartment Vacancy and Rent from the University of Denver and the Apartment Association of Metro Denver.

That strong demand pushed the vacancy rate down to 5.4 percent from 5.8 percent in the fourth quarter. It also pushed the average rent up to $1,480.74 a month, which is $24.65 higher than the average in the fourth quarter and $60.44 higher a month than the average rent a year ago.

“I am

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WAIT, It's a Quick Claim Deed right?

It would seem like finding a real estate vocabulary word that starts with “Q” would be a bit difficult.  Good news!  It was the easiest one so far as there is only one that is important enough to cover. Have you ever been the grantor or the grantee in a quitclaim deed?  Funny thing, most people call it a quick claim deed. Its quit, not quick.  I assume its confused often because it is a quick way to change a title document, or maybe its because people don’t enunciate it well enough.  Either way, lets dive in.

Its called a quitclaim deed because the owner/grantor terminates (“quits”) any right and claim to the property, as a result the right or claim to transfer to the recipient/grantee.

Due to the lack of

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