My, how our world changes! I didn’t even know “analog” existed until we had “digital” to compare it to. Are you prepared for change? Most of us are not. Tony Robbins says that nowadays you don’t change, you UPDATE. That makes it a little easier to “swallow.” Are you an OUTLIER? Are you at the edge of technology and snap up every new “thing” that hits our market? Did you pay $5K for a new TV only to see it a year later for $1K? Remember Betamax, Sony’s videotape version of VHS? What about 8-track? Cassettes? Vinyl records? 78’s? 45’s? 33’s? Or that 286 computer? Remember 2.4 baud dial-up? The changes I have witnessed in my lifetime will not compare to what my children will experience. We humans have an amazing ability to adapt & adopt, to change…update. There’s no time to wallow in the past, nor to reminisce. It’s time to KEEP UP and embrace technology. Make it your friend! A cool tool! Just don’t ask it for a hug.
HUD STEALS for you investors who are looking for out-of-state deals (this is just a sample of potential bargains available; click on link for more information; all at investor status; “IE” means FHA-lender repairs are under $5K, “IN” means insurable, OK, for FHA loan as is);who says there are no bargains out there? These HUDs may “go” quickly:
- Falls Mills, VA 3/1 for $29,250K (IN)
- East Carbon, UT 2/1 for $18.9K (IE)
- Tripp, SD 3/1/2D for $12.9K (IE)
- Frederick, OK 4/3 for $9K (IE)
- Muskegon, MI 2/1 for $5,280
How tight is our rental market? Zillow Rental introduces time-stamped listings! Now you know when that listing came out and you can POUNCE on it. This will be of particular interest to HOT Rental cities like Seattle, San Francisco, Denver….
Some are still sinking: Just in case you assumed ALL housing markets have recovered, many low-end homes have seen more devaluation! Zillow has a “Zillow Negative Equity Report” (who’d a thought?)! Here are the top 10 negative equity markets:
- Las Vegas
- St Louis
- Kansas City
- Price it to sell quickly: “the longer a house is on the market, the less likely you are to get fair value”
- Preapproval letter is just the beginning. Never get new loans or start using credit cards more heavily until after you’ve actually closed on the home!
- Selling could take lots of time: A smart seller allows a minimum of 4-6 months to sell
- Not all “buyers” are able to buy: serious and smart buyers are “preapproved”
- Yes, it has to smell good: a mess leaves an impression that’s hard to overcome
- Agents aren’t rich: unless they are handling both sides of the transaction, figure they are getting roughly 25% of the commission
Just for grins…and normal homebuyers…the TODAY SHOW muses on when to walk away from buying a home. Chill out or walk away; play the game with Al Roker.
Crowdfunding house flippers: risks and rewards. CNBC explores the latest rehab funding source. (Rumor has it Colorado’s Cannabiz is funding local rehabs).
The latest Mortgage Rates: 30 Year fixed at 3.61% and 5/1 ARMS at 2.75%. Expect investor (non-owner occ) rates to run about ½ point higher on non-owner occ loans. (These are AOL/Zillow.com reported average rates as of Thursday)
REAL ESTATE WEATHER REPORT
“Are we there yet?” Probably the most asked question I get. Investors wonder if we’re peaking (ah, no peeking) or where are we on the SINE wheel of fortune? Are prices rising? Is demand high? What does that typically indicate? Right. See, you know the answers! Maybe you’re freaking out by the recent Denver Post front page articles: Aldo’s Denver buyers up their game to be last bidder standing in real estate deals. There’s an interesting inventory analysis chart comparing the actual market with a balanced market, broken into attached vs detached res and by price ranges (0-$199K, for example). Needless to say (OK, I’ll say it anyway), no surprises, just validation that our market is HOT HOT HOT with no cooling in sight! Bidding winners have speed and savvy. This market is not for the timid. Bottom line, whether its rent or buy, our population has outstripped building and “normal” turnovers. Options are few. Opportunities are there, just harder to flesh out. Last Bidder Standing. Harrumph.
Mark your calendars: April 7, 8 or 9. ICOR will be holding their 2015 Supplier Tradeshow in Colorado Springs (4/7), Denver /Aurora (4/8), and Loveland (4/9). Register HERE.
Back by popular demand: How to Keep From Getting Screwed By Your Contractor. April 18, 2015. We’ll interview contractors and carve out a special section on structure. We’ll be sure to have Subject Matter Experts on hand to answer your questions. This class is also called The Gotchas That Getcha! Register HERE.
We’re looking for people looking for us! Our Invest Success Mentorship Program classes start the first Monday of the month. We offer LOCAL webinars, house tours, and small, personalized classes as well as hands-on on-site experience. You will learn where and how to look for deals! Oh, and our flagship program requires you to REHAB A HOUSE! You’ll have our ear for a year! Amp up your business with custom systems and procedures. Go to our website for more information. Better yet, call us. Nothing ventured, nothing gained!
Call us with tips, rumors, conjectures, deals, and cold cases (we’re thirsty!). If you’re not on our list and want to be, LET US KNOW. Next Breakfast Club is April 11. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Thank you for helping us help you!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! Arvada, Denver, Centennial, Castle Rock, Littleton, & Westminster. More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 303 564-1680.
3722 S Rosemary Way. Denver. 4 beds, 2.5 baths, 2 car attached garage. Nick brick house in Southmoor. Buy for $400K.
1912 Bellavista St, Castle Rock. HUGE. 5 beds, 4 baths, 3 car attached garage. Buy for $385K.
4910 King St, Denver. Brick, 3 beds, 1 bath, 1 car detached garage. Buy for $330K.
16537 W 78th Pl, Arvada. 4 beds, 2.5 baths, with 2 car attached garage. Popular location. Buy for $355K.
6553 Big Horn Trail, Littleton. 5 beds, 4 baths, 2 car garage on ¼ acre. Roxborough! Buy for $440K.
2501 Birch St, Denver. Park Hill! 3 beds, 1 bath, 1 car detached garage. Brick ranch with basement. Buy for $423K.
7058 S Chapparal Cir West, Centennial. Buy this 4 bedroom, 4.5 bath, 4-car garage “mansion” for $540K. Great numbers. Great location on over 1 acre close to DTC! It’s luxurious, captivating, impeccable….
2715 W 86th Ave, #28, Westminster. Buy this 1 bedroom, 1 bath condo in Prospectors Point for $62K. Convenient location. (REDUCED by seller)
232 Grove St, Denver. Barnum. 2 beds, 1 bath, with 1-car attached garage; buy for $131K (REDUCED by seller).
QUOTE OF THE WEEK: I think any new technology that helps connect and create social cohesion is great. But at the end of the day, you and I are analog creatures. We have to take ‘oohs and aahs’ and convert them to 0s and 1s and then convert them back to ‘oohs and aahs.’ Narratives that work in social networks are the exchange of stories that are told well. ~Peter Guber