That sounds like a “get out of jail free” excuse! It’s also a disclosure, a CYA (cover your assets) statement. It also is stating the obvious…at least to me! Whether it’s taking that special Borneo ground tree nut concoction that will improve your complexion or that weight-loss pill that sucks fat; there’s always something. The human body is amazing, how it thrives in spite of the abuse it takes (or we give it); I remind you the average American male lived to be 62 in 1932 when Social Security was created. Look where we are now, at least 78 (higher for women, results may vary) Your body is a temple! Bottom line: be aware, take care, be there!
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:
- Appleton, MN 4/1.5/1 for $13.8K (IE)
- Rockford, IL Duplex 4/2/2 for $26K (IE)
- Shreveport, LA 3/1/C for $16.5K (IE)
- Johnstown, PA 2/1 for $7.6K (IE)
- Saint Louis, MO 3/2 for $11K (IE)
Here’s 8 affordable DIY home upgrades:
- Paint your front door
- Upgrade your house numbers
- Jazz up your mailbox
- Add porch furniture
- Paint porch rails and ceiling
- Install/upgrade outdoor light
- Decorate with potted colorful plants
- Plant flower beds
So you can keep up with the market: Over and under-priced housing report video from RealtyTrac.
- Online access to pricing makes going FSBO easier
- Research your market offline, too
- Be prepared to detach emotionally
- It can become a part-time job
- Doubt creeps in at the 11th hour
Here’s what $1M buys you in: Denver, Miami, Dallas, Seattle, Minneapolis, Chicago, Atlanta, Portland, Charlotte, and San Jose (hint, San Jose appears to be the least house)
The latest Mortgage Rates: 30 Year fixed at 3.73% and 5/1 ARMS at 2.77%. 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
There is so much “local” news, I will forego my opinionated market update so you can feast on these poignant parcels…courtesy of your Denver Post (and Summit Daily News):
- Average metro Denver home sales (SFH) hit record high in April: $402,302! Highest ever. Up 11% YOY (year over year). 25% are selling over $500K. Based upon current absorption rate, we have 6 weeks of inventory (vs 4.5 months nation-wide). Maybe Dacono isn’t that far away after all!
- Home flipping less lucrative in Colorado with fewer bargains to find. This one really hurts! (actually, it helps our investor group as it drives potential investors away from our market). Remember, perception IS reality! Click on the link and scroll down for an interactive Metro Denver home sale map broken into area and price range.
- Denver’s forgotten real estate corner heats up. Southwest Denver is catching up with the rest of the area. Example: Barnum West home values are up 78.4% between April 2013 and April 2015 with average SFH sales over $208K. Valverde is up 76.1% and Ruby Hill is up 58.9%. SW Denver rents rose, as well: 1BR apartment in Valverde is now $1000/mo vs $880/mo last year.
- Home prices in 20 cities up 5% vs 10% in Denver. Click on link for gritty S&P/Case-Shiller index report data.
- Did you know Colorado property managers and HOAs have until July 1 to become licensed? This new law has various groups clamoring to get everything “done.” It’s a result of Colorado’s Manager Licensure Clean-Up Bill recently passed by our legislature.
Mark this date: June 27, Saturday, Bulletproof Your Rentals, all day workshop on saving you time and money with your rentals. Over 100 tips! Registration/info HERE. Coming July 18: Out of State Investing.
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 June 13. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Thank you for helping us help you!
INVENTORY: Inventory flows & goes: 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.
3092 S Nucla St, Aurora. 4 beds, 2 baths, 2 car garage. Buy for $200K.
161 S Jay St, Lakewood. 3 beds, 2 baths, oversized lot. Buy for $195K.
5015 Perry St, Denver. Berkeley! 3 beds, 3 baths. Buy for $360K.
3087 Wolff St. Denver. 4 beds, 3 baths, 1 car attached garage. Harvey Park. Buy for $275K.
2111 S Corona St, Denver. 2 beds, 1 bath, 2 car detached. Use your imagination. Buy for $320K.
350 S Parfet St, Lakewood. NICE. 5 bedrooms, 5 baths, 2 car detached garage. Yours for $347K (Price 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….
QUOTE OF THE WEEK: There is no such thing as failure. There are only results. ~Tony Robbins