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Fewer than 10 Million New Homes
I read a story with the figures on how many housing units were started in the last decade according to the National Association of Home Builders and I was SHOCKED at how low this number was. Last week I wrote that I knew there were fewer than 15 million new housing units completed I was…
How to Protect Our Clients from Metro Districts
The Denver Post ran 2 editorial articles on December 22nd about Metro Districts which I have covered in detail in 2 previous newsletters. Here are the recommendations from the Denver Post- State legislature should pass a bill requiring disclosure of the property tax rate or mill levy on all real estate listings, including a disclosure if…
Predictions for Home Prices & Mortgage Rates
Here is a list of various predictions for 2020 from various sources- CoreLogic is predicting home prices will increase by 5.4% from October 2019 till October 2020. NAR is predicting that U.S. home prices will rise 3.6% this year. Freddie Mac is estimating that interest rates will average 3.6% this year. Fannie Mae is predicting…
Colorado Economic Predictions
Here are some Colorado economic predictions for 2020 from the Leeds School of Business at CU-Boulder. Our state will add about 40k new jobs, a growth rate of 1.4%. Our state experienced a job growth rate of 1.9% in the first 9 months of 2019 and a 2.5% job growth rate in 2018. One reason…
2020 Economic Predictions
Some of my favorite economic reports come from Mauldin Economics and in a recent “Charts that Matter” column by John Mauldin he cited what the analysts at BlackRock are predicting for 2020. They see 1.8% being our country’s GDP growth this year, our core inflation rate, the 10 Year Treasury yield, and the Fed Fund…
Why It’s Dangerous to Buy a New Home…Part 2
The Denver Post ran several more stories last week on the topic of metro districts being used to build the infrastructure for nearly every new home community in metro Denver. “When a metro district is created, the only voters are the developers, their spouses, and a few business associates.” The Denver Post found that…
Over 50 Million People Are Over 65
Last week I saw a graph that showed the number of Americans 65+ and how this number dramatically increased beginning in 2009 when we had about 37 million Americans that were 65+. Now we have about 53 million people 65 years old or older. WOW! That’s an increase of 16 million “old” people. LOL. In…
Colorado is Home to 3 Top Tech Cities
CompTIA, the trade association for IT companies and their professionals released their second annual Tech Town Index which ranks the top 20 cities in the country for opportunities for tech workers. Colorado is one of three states to have 3 cities listed in the top 20, which include Denver at #9, Boulder at #14, and…
Median Home Prices Up Over 6%
Here are the latest REColorado stats for the 7-county metro area for the month of November courtesy of SMDRA- 3,812 residences closed in November, down 1.3% from a year ago; but down 14% from November 2017. Leading the decline was attached homes, whose sales dropped 8.4% last month from last year and are down…
Why It’s Dangerous to Buy a New Home
The Denver Post published an incredibly lengthy story on Sunday on CO Metro Districts that every one of you should read. A metro district is a quasi-governmental metro district that provides the money needed for the infrastructure in a new community, finances this money, charges and collects taxes from the future homeowners to pay for…
Update on New Loan Limits
FHA max loan amount for metro Denver will be $575k just like it will be for conventional high balance loans. The FHA Case Number must be pulled January 1st or later to use this new higher loan amount. But, in El Paso County the FHA loan limit is just $356,500 and their conventional loan limit…
VA Loans with NO LENDER FEES!
We just eliminated all our lender fees on VA loans, and this saves your client over $1,000. Thus, a veteran’s closing costs with us are only about $2,100. Plus, our rates are amazing on VA loans. Every lender I have worked for charged 25 bps more to the price of a loan for a VA…
