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.

It’s getting to be that time of year again, Fall!  I know that I really love the change of season and appreciate the colors but with the change of season comes the change of weather.  Soon enough it will get cold and snow.

So now is a real good time to look into some home winterizing projects around the house.  I know that many of us don’t get around to these things, myself included.  But they are important nevertheless.  So let’s start outside in the yard.  Do you have some bushes or trees that need pruning or maybe removal?  I do.  In fact, I need to borrow my neighbor’s chain saw and take down my favorite tree.  Unfortunately it just didn’t make it this year and with the potential snow coming in the near future, this needs to get done now before it can cause problems with broken limbs.  Do you have any trees or bushes that should come out? If you live in Highlands Ranch as I do, the Metro District is making it easier to get rid of those limbs and providing free mulch to residents at the same time.  The Highlands Ranch tree recycling event at Shea Stadium is a great way to dispose of the old tree and maybe get some mulch for your landscape.

This is also a great time of year to aerate and fertilize your lawn to prepare it for winter.  It seems those that take this step have a big head start in the Spring with a greener, thicker lawn.  It is also important to remember that the lawn probably still needs watering.  Maybe not as much, but with 80 degree days like we’re having still, the lawn still needs the moisture.

So make the time now to get out and check the caulking around the windows, clean the gutters and make sure the outside is ready for the winter chill. Don’t forget, this is also a great time of year to get out and find your new home if you’re in the market.  Interest rates are incredible still and before the snow really hits, it’s a great time to check out the home’s landscaping before the leaves fall.  If I can help with the search, please let me know.  In the meanwhile, you can use the button below to search homes and see pictures, videos and other details.

In just about every Denver zip code, the inventory contains a certain share of distressed property which can have some effect on the values of the neighborhood.  Some areas of the Denver real estate market struggle with this more than others and in some cases the numbers of distressed property can significantly devalue and entire area.

photo courtesy of respres – Flickr Creative Commons

It is difficult these days to find very many neighborhoods without some of the inventory being bank owned, pre foreclosure, short sale, etc…in other words, a distressed property. What kind of effect do these properties have on the value of the neighborhood?  Typically they are priced lower than the other property in the neighborhood, sometimes a lot lower.  If there are just one or two in the neighborhood, it may not drastically impact overall values, but it may to some degree.  If there are several, or in some cases, predominantly distressed property then the values will usually decline significantly.  Good for some, bad for others.

Many of the homes become less cared for or uncared for, causing an eyesore for the rest of the neighborhood.  Especially in the summer months, these homes often become vacant and the water turned off.  In this scenario, about the only thing that grows are the weeds.  Usually, lots of them.  Neighbors aren’t happy, they have to look at the yard every day and watch it devalue their own home.  Not good.

So is this good for anyone? Unfortunately the economy and the effects of unemployment and a housing crisis has caused so many typical, average homeowners to find themselves in financial difficulty, many of which struggled hard to maintain their dream and ultimately had to give way to pressure of finances.  Homes fall into foreclosure and the effects are mentioned above.  Who can win?

Investors.  People or companies that find themselves in a fortunate position to be able to purchase and renovate these distressed properties for pennies on the dollar at times.  They clean up the home and the yard, get new owners or renters in the house and help restore the area in a small way.  Who else wins?  Buyers.  Normal buyers looking for a new home.  Often these distressed homes can offer affordability to a buyer and with some sweat equity, they too improve the area and take advantage of the opportunity.

If you may be looking to invest in real estate in Denver, or maybe just buy your first home or a move up, let me know and I would love to help.  There are opportunities out there and it is an incredible time to take advantage.  Not to mention the help you may be giving to the neighborhood.

I get many questions working with Denver real estate clients or Highlands Ranch homes sellers and buyers that have to do with the real estate contract.  Some issues and questions relate only to Colorado, others are more broad.  This real estate contract series addresses those questions.

The Real Estate Transaction Series: Inclusions and Exclusions

You’ve decided that it is time to sell your house.  The asking price is all worked out as well as other details.  But what about the inclusions and exclusions?  Will the fridge stay with the house?  How about the curtains in the family room and the ceiling fan in the master bedroom, the hot tub?  There are plenty of items to consider when selling your home.

These are things that come up all the time. Seller’s may think, well we can just negotiate a price for them with the buyer.  But maybe the buyer thought they were already included in the price of the home.   Some things are considered attached and part of the property, therefore part of the purchase.  Maybe you were going to swap out that nice Pottery Barn curtain rod for the original basic model.  Was it attached to the wall when the buyer wrote the contract?  If so, did you identify it as an exclusion?

So what do you do? Best practice is to get familiar with the real estate contract and see what really is considered attachments and go with the property.  Then decide, before going on the market, what you are willing to include in the sale and what you don’t want to include.  Some things fall in grey areas, like the refrigerator or washer and dryer.  Are they attached or just plugged in?  When in doubt, just exclude them on the listing if you don’t want any misinterpretation.  No real need to itemize your inventory here, personal belongings don’t all need to be identified.   But if you were planning to replace the kitchen light with the original that came with the house, then either do it before showings or exclude it in the listing.

The list of exclusions and inclusions usually isn’t that long, but it’s best to consider these before you find yourself arguing with the other party about if it stays or goes.

Note: This article is intended to provide general information and is not intended to provide specific advice.

Real Estate Transactions: Inclusions & Exclusions is the 4th post in my Real Estate Transaction Series.

You can also read the others as well here:

The Real Estate Transaction Series: The Closing

The Real Estate Transaction Series: Final Walk Through

The Real Estate Transaction Series: Deadlines and Dates

The Real Estate Transaction Series: HOA Matters

Just this evening I flipped the switch on my Denver homes search to bring forward upgrades from my provider, Diverse Solutions.  They provide my IDX that allows you to search the homes in the Denver MLS through my site.

I am thrilled that I was able to bring the changes this weekend – just wanted to post & let anyone know that in fact you are on the right site, things just look a little different.  I will be posting again this weekend to point out some new things.  I’ll probably be tinkering with the setting this weekend as well.

Until then – search away!