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Van Gogh Art Exhibit - Limited Tickets Remaining

Mortgage Market Update 2012/2013 – With Giuseppe Battaglioli of Fairway Mortgage

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A lot has changed in just the past 12 months and we see that across the board with improved sales figures, stronger consumer confidence, rising prices in our marketplace and continued ripe environment for economic growth. In fact, in Denver there has been about a ten percent rise in home values over just the past year and it’s projected to continue increasing in 2013 and beyond.

Fairway Mortgage is our preferred lender and one of the reasons they are a fantastic choice is because they are a broker lender – allowing added flexibility that one does not experience when working with large firm lenders or small banks.

Here is a snapshot of what is happening in the mortgage environment today:

Low Interest Rates Around For a While Longer

The Fed recently announced that interest rates would not be hiked up in the coming months. Rather than placing an unrealistic cap on interest rates, they have decided to keep the rate low or possibly lower than they already are until inflation climbs pat 2.5% or the national unemployment rate falls to below 6.5%. This means that we can expect see low or lower interest rates until at least the next few years.

Buying Power Still Strong

With the low prices that we are seeing in our marketplace, coupled with low interest rates – buyers have a lot of buying power. But that could change. If prices in our local Denver area continue to rise at the rate they have during the past year, we may see rates rise to about the 4% level. Though still very low by historic standards, that 1% could have an impact on buyers where they would need to adjust their purchase price by 10% to accommodate the change. For this reason, now is a great time to buy a home.

Drastic Changes Possible for FHA Financing

Though unconfirmed, there is talk that the Federal Housing Administration may change their financing program to require Private Mortgage Insurance for the life of the loan. Right now, borrowers are only required to pay the mortgage insurance premium until there is 22% equity on the property. This could potentially change a lot for the mortgage industry since this financing is among the most popular choice for most borrowers with almost half of mortgages financed via FHA. If it were to happen, we would expect conventional loans to appear more attractive for most buyers. 

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Right now, we are experiencing Low Inventory, Low Interest Rates and Low Prices; the “Three L’s” that make this an ideal marketplace conducive to plenty of real estate activity. Contact us today if you would like to get in on the action. We look forward to making your real estate dreams become a reality!

Happy 2012 Holidays and Warm Season’s Greetings!

To all our cherished friends, neighbors, family and clients – we are so proud to have been able to work with you and be a part of your lives! As we end this year and turn to the exciting time and events that 2013 holds, we just wanted to take a moment to thank you for all that you bring to our lives.

We have some really great plans in the coming year to bring more success to all your real estate endeavors. And with each transaction that makes it to the closing table in the coming months and years ahead – we know that there will continue to be new and exciting things to follow for all of us.

On behalf of the entire group – Happy Holidays, Season’s Greetings, Peace and Joy!

Judi’s House – Continues to Help Children Manage and Get Through Grief

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This November 15^th it was the National Children’s Grief Awareness Day and who better than Judi’s House to commemorate the day with what they do best. So many children have experienced the loneliness and pain of grieving alone or without enough support – as did football superstar Brian Griese when he lost his mother at a young age.

Former college MVP and pro football player Brian Griese founded Judi’s House in 2002 as a way to commemorate his mother’s death – a loss Brian endured at the young age of just 12 years old.  Judi’s House was established so that the camaraderie, community and support that can only truly come from others going through the same thing would surround children 3 to 23 years old.

The non-profit organization has helped hundreds of children through the grieving process through activity and group support. You can request their newsletter updates – just register for their newsletter.  And of course for more information about this great organization, visit their website.

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I’ve shared this with you in the past and I am proud to share it with you again. Judi’s House is a fantastic organization dedicated to making our children’s lives better! Join the cause today.

Watch the Judi's House "Lessons Learned from Grieving Children" video below.