What a word: simple but so powerful. If we could just “be.” More than exist, more than get by…Like the cliché: “way to be!” You just “are.” You’re here, you’re present, you’re a part of something greater. You have a mission in life, a cause to fight for, something to believe in, something that really matters to you, something that is important to others. I’m here and I matter. You matter. Never forget that. Put “it” in perspective if you have to. No judgements, no conflict, no wounds, no worry, no wallow, just “BE!”
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:
- Montgomery, AL 3/1 for $8K
- Wynne, AR 3/1 for $4.5K
- Clinton, IA 5/2 for $12.1K
- Bangor, ME 4/1.5 for $21,141
- Fairbury, NE 2/1 for $11K (IE)
Where the jobs are…validation time: way out West (Left Coast). Slow gains in South and Midwest. Jobs mean housing demands, so checkout this Zillow interactive map on housing Recovery Watch. Hover your mouse over Denver and it tells you year over year price increase of 15% and supply is down 22%. Compare that to Shreveport, LA where price dropped 1% while supply increased 33%. Bakersfield, CA had supply increase of 35%.
Rents are soaring and mortgage rates are low, yet homeownership is down. Why? Rent vs Buy ratios favor buy. Still, renters claim credit and finance hold them back. BTW, lowest breakeven point is Dallas-Fort Worth at 1.2 years. Highest is LA at 5.1%. Why would you rent in Dallas, then? So, house payments are more affordable than rents in 76% of US markets!!! Here are the top 3 most affordable cities to rent: Columbus, Nashville, & Indianapolis. Here’s the top 3 least affordable cities to rent: NY, Baltimore, & Philadelphia.
Here’s RealtyTrac’s top 10 American crime cities with a few surprises!
- Myrtle Beach, SC
- Bessemer, AL
- East Point, GA
- Miami Beach, FL
- Memphis, AR
- Springfield, MO
- Spokane, WA
- N Little Rock, AR
- Hot Springs, AR
- Middletown, OH
The latest Mortgage Rates: 30 Year fixed at 3.56% and 5/1 ARMS at 2.65%. 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
It’s Springtime in the Rockies, when more homeowners list their houses as they plan to move, relocate, downsize, etc. Yet, the Denver/No Co market remains tight with fewer than normal listings. Why? One reason is that homeowners observed the low points and couldn’t (or wouldn’t) sell their homes for a loss; then, as the market improves, they still sit tight. Average time in their home is going up; it used to be about 6 years for SFH and 5 years for a condo; now it’s 7 years or more. Is it higher in our local market? So when do we catch up? When do we reach the peak? When does our market start to slide? Ah, prognostications abound. I keep hearing 2018-2020 (hindsight) referencing the 12-15 year cycle from trough to top. So, it looks like the current conditions will remain constant with a few twitters here and there. Go ahead and flip. Our market won’t change that quickly. Go ahead and buy that rental (if it makes sense), rent rates will continue to rise…maybe more slowly, but rise nonetheless! Change and adapt, it’s what we do!
IT’S TIME TO REGISTER: 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.
TOMORROW: April 11. John Fisher’s Breakfast Club. Poppies Restaurant. 7AM (come early to get a good seat). Extraordinary networking event. Be there, we care!
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. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Thank you for helping us help you!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! Denver, Centennial, Castle Rock, Commerce City, Littleton, Northglenn, & Westminster. More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 303 564-1680.
2875 Quebec St, Denver. 3 bedrooms, 1 bathroom. North Park Hill. Buy for $169K.
3170 Longfellow Pl, Denver. 2 beds, 1 bath. Probable scrape. Good sized lot. Buy for $68K.
350 S Parfet St, Lakewood. NICE. 5 bedrooms, 5 baths, 2 car detached garage. Yours for $367K.
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 $317K. Reduced by seller!
6553 Big Horn Trail, Littleton. 5 beds, 4 baths, 2 car garage on ¼ acre. Roxborough! Buy for $440K.
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!
QUOTE OF THE WEEK: Do not let it be your aim to be something, but to be someone. ~Victor Hugo