Explore Longmont, CO

By Dawn Clark
(Your Castle Real Estate)
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  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 Longmont area in Denver.   What this investment is:  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month le...

By Dawn Clark
(Your Castle Real Estate)
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Investing in Real Estate 2 - Assignments This blog will discuss a type of real estate investment, assignments, in the Longmont 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 ...

By Dawn Clark
(Your Castle Real Estate)
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Recap of First Quarter 2008 Home Price Performance The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000. Comparing 2006 to 2007, the average home price across the metro dropped 2%, to $311,000. The first quarter of 2008 was $2...

By Dawn Clark
(Your Castle Real Estate)
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Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonali...

By Dawn Clark
(Your Castle Real Estate)
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There are some signs of strengthening in our Denver market.  The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007.  Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because...

By Dawn Clark
(Your Castle Real Estate)
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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, ...

By Dawn Clark
(Your Castle Real Estate)
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Loan Considerations for Buy and Hold Investors       As far as investment loans, little or no money down loans are impossible.  However, lenders do permit the use of Home Equity Lines of Credit or second mortgages from other properties owned by the borrower as a source of down payment.  Or, self-...

By Dawn Clark
(Your Castle Real Estate)
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Loan Considerations for Fix & Flip / Short-Term Investors     Securing conventional financing on a fix & flip or short-term loan is not recommended.  Most conventional lenders sell off their mortgages to investors on the secondary market.  If the loan is paid off early (before six payments are ma...

By Dawn Clark
(Your Castle Real Estate)
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  Loan Considerations for Jumbo Mortgages   For the Greater Metro Denver area, any loan amount greater than $417,000 is considered a jumbo loan.  Fannie Mae and Freddie Mac assign different thresholds for various regions across the country.  For instance, $417,000 is not considered a jumbo loan i...

By Dawn Clark
(Your Castle Real Estate)
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Loan Considerations for Loan Amounts Between $200K - $417K   With all the doom and gloom publications that are mostly exaggerated, many potential borrowers believe that home mortgage lending options have dried up.  While underwriters and investors are scrutinizing files more closely, attractive r...

By Dawn Clark
(Your Castle Real Estate)
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FHA First-Time Buyer Tax Credit    In an effort to boost the sagging real estate market and overall economy, first-time home buyers are being offered a limited time tax credit when purchasing a primary residence.  The highlights of the tax credit are: ·   The tax credit is available for first-tim...

By Dawn Clark
(Your Castle Real Estate)
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Loan considerations for a first time buyer    Lending guidelines are changing on a daily basis for every type of loan: conventional, FHA, VA & commercial.  Nevertheless, there are still very attractive first-time home buyer options available.   If you are or will be a first-time buyer, it is crit...

By Dawn Clark
(Your Castle Real Estate)
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How can you improve your FICO score? To improve one's credit score, it's critical to understand the factors influencing a credit score.  The factors that contribute to a FICO score and the weighted percentages for each are as follows: 35% - timeliness of payments 30% - the ratio of used debt to a...

By Dawn Clark
(Your Castle Real Estate)
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How does your FICO score impact your interest rate on your loan?    Low credit scores are deemed greater risk for lenders since the likelihood for defaulting on the loan increases.  As such, lower FICO scores translate into higher interest rates.  Mortgage lenders will group credit scores in a ra...

By Dawn Clark
(Your Castle Real Estate)
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What is a FICO score? FICO stands for Fair Isaac Corporation, a company that created the most used credit scoring model in the United States.  An individual's credit score is calculated through a statistical algorithm and is used as a factor in determining the likelihood of a borrower defaulting ...

By Dawn Clark
(Your Castle Real Estate)
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      If you have not heard already, the inventory of home on the market in Denver has been declining. This is not true in many regions of the county. Your clients, who often only see national headlines, might not be aware of this favorable news. Our market has some unusual factors at work. Let'...

By Dawn Clark
(Your Castle Real Estate)
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As investors we face a number of very real and very scary challenges. Making sense of this market is no mean feat and one has to be very careful with his or her investment. However, we usually think about danger as financial. Unfortunately, on rare occasion it can be even worse than that. The maj...

By Dawn Clark
(Your Castle Real Estate)
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A lot of investors ask what an egress window is and when one is needed. Technically, it's a window for a room below grade that a municipality has deemed large enough to be safe for exit in case of emergency.   While there are some variations, the window needs to be large enough that a firefighter...

By Dawn Clark
(Your Castle Real Estate)
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You walk into a property you're looking to buy and rent and you walk down into the basement and voila! you find a full second kitchen.   Great!  You start calculating how much rent you could get if you could rent the downstairs separate from the upstairs and the cashflow is out of this world!  Bu...

By Dawn Clark
(Your Castle Real Estate)
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A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe ...

Longmont, CO Real Estate Professionals