It’s not just limited to Halloween anymore. Denver’s real estate market has created a platform for year round enjoyment of this very colloquialism. Investors and contractors take turns in hot and cold markets giving “tricks” and “treats.” When the market is frothy, as it is now, the contractors do the “tricking” – budgets, timelines, and draws fall victim. On the contrary, when the market is slow the investors do the tricking – usually in the form of non-payment or emaciated budgets. There are always investors and contractors that “play nice” but when a market is as one sided as ours is now, there are many more potholes to avoid. Greed runs abound and integrity is the sacrifice. Are you one of those doing the tricking? Or do you play the treater? The latter makes life oh, so much sweeter…
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 OK for FHA loan as is);these HUDs may “go” quickly):
- Montgomery, AL 3/1 $12k (IE)
- Pine Bluff, AR 3/2 for $9.6K
- Topeka, KS 4/2 for $22K (IE)
- Toledo, OH 2×2/1 for $20K
For many, single family homes is where the “good stuff” is. They are steady, desirable, rentable, and have the largest market when it’s time to sell. However, condos appear to have the largest growth in price over the last year. Many people are seeking “urban” living and it’s created a greater price increase. Just make sure the HOA isn’t running on life support…
Insurance agents are apparently the ones that scare the easiest – they don’t like Halloween any more than turkeys enjoy Thanksgiving. There are some good tips in here for keeping your family and house safe though. Happy trick-or-treating!
This link is not an article, but a reference to Denver metro Realtor reports for the year-over-year information on our market in September. Twenty-five downloadable reports in all! It’s enough information for you the “junkies” to keep you busy until Halloween, for others, hold on to your heads, it may just be too much.
The latest Mortgage Rates: 30 Year fixed at 3.66% and 5/1 ARMS at 2.88%! 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
The seasonal slowing continues in both sales and even in rentals. It seems people are getting fed up with the consistent price increases. Knowing the market and having a good real estate agent that knows the buyers and the specificity of the market is paying off right now. Decisions abound – do you hold a house that’s been on the market for 6 weeks (the new 6 months) until spring? Do you drop the price? Where is that “sweet” spot? I know we just started winter, but spring will be here before you know it.
We’ve started a waiting list of people looking for us! Our Invest Success Mentorship Program is ongoing and we’re looking to open the waiting list soon. 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. Next Breakfast Club is November 14th, 7:00AM at Poppies. We’ll see you there!
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.
11692 West 36th Avenue, Wheat Ridge. 4 beds, 3 baths. 2 car garage. Buy for $375K.
5466 West 66th Avenue, Arvada. 3 beds, 2 baths. 1 car garage. Buy for $257K.
770 South Dale Court, Denver. 2 beds, 1 bath. Near Huston Lake Park. Buy for $213K.
10255 Carriage Club Drive, Lone Tree. 3 beds, 4 baths. Beautiful Home! Buy for $460K.
1191 Tucson Street, Aurora. 3 beds, 2 baths, 2 car garage. Buy for $190K. Price Reduced!
225 South Newton Street, Denver. 2 beds, 1 bath, 1 car detached garage. Yours for $170K!
REMEMBER THIS WEEKEND IS DAYLIGHT SAVINGS TIME! GET THAT BEAUTY SLEEP.
QUOTE OF THE WEEK: “The quality of a leader is reflected in the standards they set for themselves.” – Ray Kroc