I love the English Language: like poetry, we can say and mean so much with so little. Pentasyllabic is a 5-syllable word that means…5-syllables (they’re also “polysyllabic” for the bonus round!)! I had an old teacher that called them “79¢ words:” Interesting words. Heavy words. Loaded words like continuity, like creativity, like curiosity (Pentasyllabic “T” or “ity” words, no less!). I can only imagine how our language appears to non-native English speakers. I have heard that non-natives are befuddled by American idioms and slang (add a few seniors to that list, as well). There’s nothing like “Word Play” with a Merriam-Webster dictionary. How about “long-gone words:” floppy disk, gallivant, britches, hootenanny, dungarees, icebox, and yuppie. Antiquated, archaic, and alliterative. Who could ask for more? Speak wisely and happy Word Smithing!
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 3/2 for $10K (IE)
- Salem, NJ 3/1 for $24K (IE)
- Clinton, IA 5/2/1D for $12.1K
- Saginaw, MI 3/1/2D for $11.9K (IE)
- Aurora, MN 4/2/1D for $18.8K (IE)
DIY’s Do’s and Don’ts : Get rid of Black Mold. They “report” standard shower mold removal can cost $1.6-4.5K (where do they get their contractors???):
- What is it
- Find the source and stop damage
- Wear protective gear
- Seal affected areas
- Discard water-damaged material
- Scrub away
- Clean all surfaces
- Discard mold-cleaning equipment
10 Craftsman homes starting at $105K: Chatanooga, TN $170K, Tampa, FL $460K, Cannonville, UT $249K, Caribou, ME $269K, Canton, OH $104.9K, Butte, MT $235K, Red Bluff, CA $299K, Schenectady, NY $169.9K, Monroe, NC $260K, Kansas City, KS $249.5K. Nice “original” homes!
Here’s an interesting video from RealtyTrac’s US Home Equity & Underwater Report 1Q2015. I didn’t know such a report existed. Is nothing waterproof?
TOP 10 Sellers’ Markets (all western except last 2!)
- San Jose
- San Francisco
- Los Angeles
Top 10 Buyers’ Markets (all Eastern)
The latest Mortgage Rates: 30 Year fixed at 3.58% and 5/1 ARMS at 2.71%. 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
SOSDD (same ole stuff different day). Our market continues to hum along. The tune is especially pleasing to sellers (it’s their market!): #3 in national top “Sellers’ Markets,” top 10 in national Days on Market (DOM), creative bidding war strategies (first rights of refusal up to $50K over bid price, e.g., no inspection, no appraisal, etc); buyers are doing their damnedest to get a house. I heard today of a buyer getting beat out/up on 16 houses. I am sure this is not unique nor a “record” in our marketplace, it’s just a “sign of the times.” More and more houses are meeting (and exceeding) appraisals, as well! From an investor POV, we’re seeing some better (compared to a year ago) wholesale deals, yet buying rentals remain a challenge. Our old tried and true formulas are no longer applicable (the “70 rule” or even the “80 rule” doesn’t fly).
We’re seeing more and more local Front Range Investors shop out of state. WOW (word of warning), if you want to flip out of state, understand that equity is fleeting; many out of state investors do better with rental cash flows than retail flips. Since prices are down, owner carry becomes another ESO (Exit Strategy Option) to consider! Do your diligence, do your homework. Be careful out there!
New Class: Insurance for the Investor. May 30, 2015. EVERYTHING INSURANCE! roofs scams, changes, and claims. Don’t miss this first time event. Cover your assets!!! REGISTER HERE!!!
We’re looking for people looking for us! Our Invest Success Mentorship Program is ongoing. 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. Our next Breakfast Club is May 9. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Thank you for helping us help you!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 303 564-1680.
1720 Ingalls St., Lakewood/Edgewater. 4 bedrooms, 1 bath. Huge potential. Buy for $155K.
8330 Zuni St #208. Denver. 1 bed, 1 bath condo, buy for $65K.
7373 W Florida Ave, #11G. Lakewood. 1 bed, 1 bath condo. Buy for $77K.
350 S Parfet St, Lakewood. NICE. 5 bedrooms, 5 baths, 2 car detached garage. Yours for $347K (Price reduced by seller).
11010 Larry Drive, Northglenn. 4 bedrooms, 2 baths with 1-car attached garage in popular Northglenn. Buy me for $210K.
5721 Tichy Blvd, Commerce City. 4 bedrooms, 2 baths and a carport. Buy for $205K.
1912 Bellavista St, Castle Rock. HUGE. 5 beds, 4 baths, 3 car attached garage. Buy for $385K.
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. (Price reduced by seller)
QUOTE OF THE WEEK: English language is the most universal language in history, way more than the Latin of Julius Caesar. It’s the most punderful language because its vocabulary has a certain critical mass that makes a lingo good for punning. ~Richard Lederer