Calling all HUD buyers $100 Down Payment Is Back!!

If you have been looking to buy a HUD owned home here in Denver and maybe times are a little tight on cash for you right now, well HUD just announced that effective immediately, all accepted offers beginning October 19, 2011 will be available for $100 down payment!

This HUD incentive is available for the next 12 months here in the Denver Real Estate market.  There are some requirements of the program of course.  Primarily, this incentive is NOT for investors.  This is a HUD program for owner occupant buyers using FHA insured financing and purchasing at the full current list price.

Loan amounts can’t exceed the full purchase price and there are other details to the program.  So for the most part, you will need some money, but with this program very little!  This is a great way to buy a HUD home if you need some help getting into a home and beginning to set yourself on the path to home ownership.

If you would like more information on this great HUD incentive program, please contact me and I would be happy to help.  Also, if you would like help finding a HUD home in the Denver market, I can certainly help with that.  Since the program requires the contract to be at full current list price, you want someone in your corner to make sure values are there and help guide you through this process.  I can help.  Give me a call, text or email.


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Can First Time Home Buyers Still Buy A Home in the South Denver Suburbs?

home sweet home

First Time Home Buyers in Denver

With the increase of the price of homes over the last several years and perhaps the economic crunch hitting savings a bit, can this really be done? Can first time home buyers in Denver purchase a house?

Perhaps. It depends on you.

If you have been planning for this, keeping your debt low and credit history excellent then you really can buy your first home here.

Of course, what I run into often are people not satisfied with needing to start out in anything less than what mom and dad have, or friends, etc… 

This is where you need to look hard at the magic reality mirror and ask yourself what you can comfortably afford. I always say that it is better to hop on at the caboose than to miss the whole train.

Owning your home and building equity over time can do amazing things for your life.  But you may need to buy something less than you imagined at first and build from there.  Or maybe not.  It depends on your financial situation.

So once we realize that we aren’t going to get the same first time house our cousins did 8 years ago, are there affordable homes in this area for first time buyers?  Yes.  There are real estate options in almost all areas of the south Denver metro area – Denver, Englewood, Littleton, Lone Tree, Highlands Ranch, Centennial, Parker, Aurora and even into Castle Rock – you have options! 

Some options are condo’s or townhomes, some are single family homes that may need some work or may be bank owned deals.  It really depends on what level your first home will be.  If you do decide to go the bank owned or short sale route, you are going to need to bring with you a whole lot of patience as purchasing a home needing bank approval on a contract can take much longer than one would like.

There are still so many financing options available, even with the recent credit crunch.  You definitely need to be working with a trusted mortgage professional that will counsel you on the loan programs that will best fit your lifestyle and goals without stretching you too far.

Just remember what I said earlier, look for what you can comfortably afford, not as much as you can qualify for, there is a difference!  If you need help finding a great lender, just let me know.  I have established relationships with a number of mortgage pro’s that will do just that.  Keep your best interests in mind and work to find you the best solution to owning your first home.  Give me a call anytime, I’ll be happy to help.

So get searching for your Denver dream home – yes, it may be a first time home, but you will still be living the dream of owning a home!

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Steve Scheer, REMAX Masters, Inc.
Denver Real Estate – Denver & The Suburbs

The Mayor Responds to USA Today Article About Denver Foreclosures

for sale signI started writing a rather lengthy piece this morning when I saw the story online with USA Today about Mortgage Defaults Force Denver Exodus.  I never finished writing the piece.  It became a busy day.  I suspect anyone reading this saw the article too or heard about it, as I was asked about it a few times – it seems to have been picked up locally as well. 

Yes, areas like Green Valley Ranch where the article talks about mostly, have had staggering foreclosure statistics.  So I don't want to make light at all of a very serious situation. 

But I want to applaud the Mayor for summing it all up better than I ever could.   I rarely catch the evening news, but I am so gad I flipped on 9NEWS for this.  

as heard on 9news and on  Denver's mayor believes the city is already on the road to recovery.   They're looking at old news," said Mayor John Hickenlooper. "The new news is that we're dealing with this and HUD is helping us deal with this and that we are already emerging much more rapidly than many other parts of the country."

Real estate is more than local.  It is ultra-local.  What is in one neighborhood can be different in another, a mile away.  What is in one town can be different across town.  Before ever making decisions that effect your Denver real estate needs, you need to speak to an experienced real estate professional.  Find one that knows what they are doing and is going to give you honest information, and even when necessary – the hard to hear truth, for your specific needs in your specific area for your own personal situation.

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