This was one of the houses I took my client out to look at.  This was the back door to the house.  No I'm not a giant, but look how they added the door. Now I'm not a handyman or general contractor, but I could tell something was not right.  That's part of the job though looking at everything.  Figuring out what is wrong, and how much it will cost to fix it.  Then what value does it translate to in terms of rental value or retail buyer end user price.  I'm standing level on the floor.  You can see the water heater too in the family room. 02/14/2009

The City of Aurora is currently accepting applications to the Art Selection Panel.  To obtain an application visit their website, www.auroragov.org/publicart. Once established, the panel will be considering art for the following location: Beck Recreation Center, 800 Telluride Street City Park, 16th Avenue & Dayton Street Trolley Car 610 Canopy, Aurora Municipal Center   02/13/2009

Investing in residential real estate can be extremely lucrative.  First and foremost you need a REALTOR with experience and an intimate knowledge of the current market.  Second you must remain emotionally detached from the process to avoid over bidding or over improvement. Finally you need patience and persistance.  With these three things as your foundation you are ready to apply the following secrets. 1.  Quickly get up to speed about what is really happening with the best buys.  Have your agent review the recent history of time on the market, winning bid amount and potential value of good buys that have recently sold or went under contract. 2.  Define your "target properties".  Have your REALTOR help you determine exactly what is best for you.  In Aurora a 3 bedroom, 2 bath, 2 car ga... 02/12/2009

The department of urban development (HUD) provides an excellent venue for both owner occupants and investors.  In Aurora right now bunches of new HUD homes hit the market every week. Although these homes have been foreclosed upon many of them are in good shape cosmetically.  HUD does an inspection prior to placing them on the market.  This inspection is to determine health and habitability.  So if the furnace is bad or if there is a water leak HUD will escrow money at closing to address those repairs. Pricing on HUD homes are incredible.  Just last week a nice 3 bedroom, 2 bath home with a 2 car garage had a winning bid under $100,000.00!  All this home needed was some interior paint and carpet.  It had upgraded windows and kitchen cabinets.  The location was near Mississippi and Tower.... 02/12/2009

The media would like you to believe that loans are impossible and there is no more down payment assistance for home buyers.  That is simply not true.  For the first time home buyer (which really means not owning a home for 3 years) there are several great options to get into a home with very little down. Aurora has a program called HOAP.  It stands for home ownership assistance program.  This program is free and offers two classes that educate the buyer about the process and how to make sure they do not end up in foreclosure.  The best part is that the buyer only has to come up with 1% of the price of the home for a down payment.  HOAP then provides the rest of the down payment and loan closing costs in the form of a loan.  This loan is added to the first loan but no payments are made a... 02/12/2009

Today, Aurora is one of the all time best places to buy.  Homes that were in the $200,000.00 price range just a few years ago can be bought for under $150,000.00.  First time buyers who could not afford a home two years ago can now buy a three bedroom, two bath home with a two car garage and have payments cheaper than apartment rent! Investors who are getting clobbered in the stock market are buying real estate and seeing a huge return on their investment.  The beauty of real estate is the leverage.  If you put 20% down on a $150,000.00 property and you get just 2% appreciation a year, you are not making 2% on your $30,000.00, you are making 2% on the $150,000.00.  That is a 10% return on your money.  And in this market with a little sweat equity you can see an instant profit on top any... 02/12/2009

When I talk with Real Estate Agents and ask what their business needs right now, they all respond, "more buyers".  With that in mind, Fidelity National Title has partnered with a product that can help you to capture more buyers as they are inquiring about your listing.  It is a tool which sends your MLS Flier and a Property Profile Report directly to the prospective buyers hand held.  The listing agent then receives a text message with the phone number of the buyer.  If you are interested in finding out more about how Fidelity National Title can partner with you in your business, please give me a call! 02/12/2009

Pillar to Post Aurora is proud to offer the local real estate community EIFS (Exterior Insulation and Finish System) and traditional stucco inspections.  Our inspections adhere to the very stringent EDI (Exterior Design Institute http://www.exterior-design-inst.com/) and MoistureFree Warranty Corporation (http://www.moisturewarranty.com/homeowners/homeowners.htm) Inspection Protocol.  EIFS (aka synthetic stucco) can be an outstanding exterior cladding system IF it is installed correctly and the manufacture's specifications are followed exactly.  Many problems with EIFS begin when general contractors and installers aren't familiar with the system, its components, or the methods used to properly apply the exterior cladding.  When installed properly, home owners typically report a 25%-40%... 01/31/2009

Pillar To Post welcomes your comments and concerns. You can contact us: Click Here MOTIVATION POWER UP YOUR MOTIVATION At times we all find it difficult to go on. There are times in our lives when we really want to call it "quits" because we just can't see any good results from all the hard work we've done. CLICK HERE FOR MORE >>   SAFETY SENSE BEWARE OF KITCHEN HAZARDS Preparing a meal in your own kitchen hardly seems dangerous - but statistics show it can be. CLICK HERE FOR MORE >>   HOUSE HINTS LINEN CLOSET BLISS Is your linen closet a jumble of sheets, towels and pillowcases? Here's how to turn your closet from cluttered to calm and make it hold even more. CLICK HERE FOR MORE >>   RELAXATION TIME LET THE LIGHT SHINE IN Shorter days during the winter months mean longer nights. Spend... 01/31/2009

Banks, lenders face Aurora rule, an article from Rocky Mountain News, reports that a measure was passed yesterday in Aurora requiring banks and lenders to maintain foreclosed and abandoned properties.  A yet-to-be-determined fee will be charges in cases where there is failure to comply with the city's property standards.  Foreclosed and abandoned properties must now be placed on a monthly inspection list.  http://www.rockymountainnews.com/news/2009/jan/27/banks-lenders-face-aurora-rule/ www.judesandall.com 01/28/2009

Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Fitzsimmons area in Denver.   What this investment is:  Purchasing a small home in an expensive neighborhood that may or may not need work.  The home is bulldozed and a new home or duplex is put on the lot.  Alternatively, the existing home is renovated and more square footage is added on.  A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).   Equity needed:  Being able to document your income and your assets will be critical.  For a commercial loan, your net worth should generally be at least as much as the loan you are seeking.  The good news is that the comm... 12/30/2008

Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Fitzsimmons area in Denver.   What this investment is:  A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium.  Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area.  Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes.  Ideally suited for the sophisticated investor with extensive experience.    Equity needed:  Being able to document your income and your assets will be critic... 12/30/2008

Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Fitzsimmons area in Denver.   What this investment is:  Purchasing a home that needs work.  The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over.  Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible.  Great for beginners with the right skill sets or the willingness to learn.   Equity needed:  With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too.  Expect a LOT of strings to be attached.  A small local lender might give you 75% of the purchase price and the renovatio... 12/30/2008

Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Fitzsimmons area in Denver.                        What this investment is:  A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant.  The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame.  Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease.  If you purchase the property, then it's an easier process; if you find a highly motivated seller ... 12/30/2008

Investing in Real Estate 5 - Large (5+ unit) Apartment Building This blog will discuss a type of real estate investment, large apartment buildings, in the Fitzsimmons area in Denver.   What this investment is:  Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property.  The loans are more difficult to qualify for, and usually a larger down payment is needed.  Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to.  Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you.  This takes reduces the hassle factor of the landlord proce... 12/30/2008

Investing in Real Estate 4 - Small (2-4 units) Apartment Building This blog will discuss a type of real estate investment, small apartment buildings, in the Fitzsimmons area in Denver.   What this investment is:  Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms.  Usually what the rental home / condo landlords graduate to.  In most markets they cost a little more than a rental home, but are much more likely to cash flow on the average month.  Less cash flow risk; if one unit is empty you have other tenants that still help you with the mortgage payment so it doesn't all come out of your pocket.  Many owners will start to delegate some of the property management tasks to an on-site assistant (typically the most responsible tenant), such as yard ... 12/30/2008

Investing in Real Estate 3 - Rental Condo or Rental Home This blog will discuss a type of real estate investment, rental condos or rental homes, in the Fitzsimmons area in Denver.   What this investment is:  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements than for larger rental buildings.  The purchase process and financing process is very similar to what you experienced buying the home you live in now.  It's a great way for beginners to get started.   Equity needed:  Currently 20% - 25% Downpayment.  In some cases you might be able ... 12/30/2008

Investing in Real Estate 2 - Assignments This blog will discuss a type of real estate investment, assignments, in the Fitzsimmons area in Denver.   What this investment is:  An investor who is interested in Assignments gets a property under contract for an attractive price then assigns the contract to another buyer, usually another investor.  The first investor will be paid a fee for the work.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Equity needed:  None, just earnest money.   Importance of credit:  Not important, since you are not purchasing the property yourself.   Importance of experience with co... 12/30/2008

 Topic:  Special considerations for Investor loans The talk around the water cooler these days is all about LOANS. Who can get them? At what price? What if I already have a few loans, do I still qualify?  A year or two ago the question was at what price do I get a loan (those were the days!).  Today it is "am I still in the game?"       Here's the deal:  if you have an owner occupied loan and 3 investor loans you cannot buy any more properties and get Fannie Mae / Freddie Mac financing, meaning you can't get a conventional 30-year fixed loan. Now, my hope is that someone reads this and tells me I'm wrong. That would be great!  But as far as I know that is the case.      Where does this leave you?  You can pursue loans that are warehoused by lenders, meaning they are not sold on the back... 12/30/2008

Colorado Mortgage Broker Licensing In response to the troubled national real estate market and Colorado's high volume of home foreclosures, efforts have increased to make higher caliber professionals involved in real estate. Licensing, rules and regulations have become more stringent for agents, appraisers, title companies and mortgage brokers.  In regards to mortgage brokers, the below items are mandatory.  No longer can someone open up the Yellow Pages, claim to be a mortgage broker and then be compensated for placing a loan --- what a novel concept.  Before committing to a mortgage broker, please make sure that they are licensed in Colorado by searching for them on the following link:  http://eservices.psiexams.com/crec/search.jsp   LicensingAll mortgage brokers conducting business i... 12/30/2008