Lonnie Glessner's (lonnieglessner) Blog

By their words it is obvious to me that the Fed is concerned about the "D" word. And the "D" word is not Depression; it is Deflation. The Fed did not explicitly mention deflation; but the fact that they did not mention the containment of inflation in their policy statement tells me they are conce...

On Wednesday afternoon it was announced that the Treasury is considering a plan to lower mortgage rates to 4.50% to stimulate the housing market and our economy. And this was widely reported by the media as I have received several calls on Thursday and Friday about this. How would they do this? I...

It was reported this week that there 14% fewer foreclosures completed in Colorado in the first 9 months of the year compared to the first 9 months of 2007. This is the first time we have seen a year over year decline since 2003. Yeah!   Kathi Williams, Director of the Colorado Division of Housing...

This data is from NAR's recent study- •·         The average repeat home buyer was 47 with a median household income of $88,200 •·         RE agents were viewed as a very useful information source by 81% of buyers who used an agent to buy a home. •·         The typical home buyers search for 10 w...

My next Business Success Lunch for Realtors is next Thursday, December 11th at 11:30 to 1:30 PM at SMDRA office in Littleton, CO. The topic is "How to double your income in 90 days" and my speaker is business coach Chuck Blakeman from Team Nimbus West. Chuck is an amazing guy with lots of knowled...

Please, please, please, strongly advise/REQUIRE that your sellers do NOT do a Quit Claim Deed or any other form of ownership change on a house that they are planning on selling soon. I am about to pull my hair out over sellers who do this! FHA requires a 90 day holding period for the current owne...

In the 3rd quarter S&P/Case-Shiller Index Report it revealed that Denver has had the 3rd best performing real estate market in the country when compared to 19 other large metropolitan areas. Here in the Denver MSA our prices have only dropped 5.4% in the last 12 months. Many large cities have see...

The end is very near for LandAmerica and its stable of title insurance companies. Late last week Fidelity National scrapped their plans to buy LandAmerica as part of their due diligence before completion of the deal. In the last 2 days I received notice from several banks and from our warehouse b...

For many years I have said thousands of times "Cash is King!" Let me be the first to tell you: The King Is Dead!!! Two clients tell the story the best. One gentleman could put $100,000 down on a $200,000 house; but I could not get him approved for even a FHA loan! Why? His credit report consisted...

It was reported this week that new home sales in October dropped 5.3% from September's levels. There was 433,000 sales (annual pace) in October or roughly 36,000 new homes sold last month. I did not think too much of this number until I reviewed last week's numbers on new home starts and building...