CO Foreclosures | Denver Colorado Foreclosures | Investment Property Specialist

Good News for Denver

According to a recent study by S & P-Shiller Home Price Indices, Denver home prices have actually risen approximately 29% since January of 2000.  While prices are not as high as a few years ago, inventory is low keeping prices level.  The Denver housing market really never experienced the housing boom like Las Vegas, Arizona, California and Florida and the rest of the country so when the bubble burst in 2007, Denver did not feel the hard hitting effects of the real estate crash.

The report reflects that 20 metropolitan cities in all have seen an increase of 44.23% since 2000. Denver lies somewhere in the middle with 10 of those markets increasing more than Denver and 11 of those markets trailing behind Denver. For instance, while Denver home prices were off 2.9% in July 2008 to July 2009, Las Vegas saw their market take a fall to 31.4%.  Detroit has lost almost 30% of their home value since 2000. All in all, the Denver market remains a healthy and stable real estate market in comparison to other markets nationwide.    That is really good news for Denver homeowners and buyers who are Read the rest of this entry »

Recently Forbes ranked Colorado #4 out of 10 best states for doing business. The rankings are based on the following criteria: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.  Costs including labor, energy and taxes had the most impact on the ranking. Colorado rates number 1 in the entire nation on labor supply, number 2 regarding growth and number 5 on favorable economic climate.  Other contenders on the list were the following states:

• 1. Virginia.
• 2. Washington state.
• 3. Utah.
• 4. Colorado.
• 5. North Carolina.
• 6. Georgia.
• 7. North Dakota.
• 8. Texas.
• 9. Nebraska.

Forbes also ranked Denver, the Mile High City, as one of 10 U.S. cities where more Americans are relocating.  Five Colorado cities made the Forbes Magazine top 40 best places for business and careers.  Fort Collins ranked No. 2, Denver ranked  No. 14 and Boulder ranked No. 20.

Forbes is not the only company ranking Denver Read the rest of this entry »

If you own an older Denver home, you especially need to be prepared in case your home requires costly home repairs. By having your home systems checked and maintained periodically, you can find out if there are any problems and prepare for these costly repairs. Sewer lines and water lines are areas underneath your home that most people forget to check on a routine basis. The cost to fix these items can be expensive.

Sewer Lines and Main Water Lines

Prior to 1975, Denver sewer lines were made of vitrified clay pipe. This pipe is especially susceptible over time to tree-root infiltration, ground settling and erosion, which cause it to move or collapse.  Have your lines checked periodically.  It is well worth the service call fee of a few hundred dollars to know what is going on under your home.

Here are some signs that you may have a sewer line problem:

• Your plumbing backs up frequently
• Water pooling in the tub or shower.
• Water or sewage leaking and coming up through a basement floor drain

Here are some signs that you may need a new water line:

• Poor water pressure
• Low volume
• Any wet spots in your yard which mean there may be a pipe leaking.

Inspections

A pipe inspection service will run a camera attached to flexible tubing through your pipes to the city’s main line to find out what the problem is. Ask to see the video before agreeing to make any repairs, and get a couple estimates if the bid sounds too high.

Denver and Arvada’s waste management department will review the video for you for free and Read the rest of this entry »

This 3 bedroom, 2 bathroom ranch-style home is located in the heart of Park Hill. It sits on a large lot with a great backyard and a patio. There are beautiful hardwood floors throughout the home and there are tons of upgrades. The kitchen has newer appliances and the formal dining room is just steps away. Downstairs there is a partially finished basement with a family room, laundry room, exercise/ recreational room, and bathroom. This house is priced to sell at $245,000 and the owner wants this home to go way. All offers above $245,000 will be considered. Offers will be accepted until 5:00 pm, October 29th, 2009. Bring us your Highest and Best!

For more information contact John at 720-353-0353.

Here are a some fix and flip tips you might find helpful to make sure your Denver metro rehab project is a success:

1. Work with real estate professionals and specialists that find, finance and rehab single family homes.  Keep adding specialists to your team. You should have a real estate agent, contractor and several mortgage lenders lined up so you are constantly ready to do business.
2. Get a jump start on your due diligence. Do all your homework before you finish negotiating your contract. Your real estate agent can supply you with comparable sales and rentals in the area.
3. Get pre-approved by your lender or have your cash available. Compare loan products and make sure you have gone over all the costs of the loan with your lender.
4. Get estimates from your contractor and factor in the repairs in your profit margin.
5. Allow enough time for your rehab project.
6. Buy properties that conform to others in the neighborhood. Read the rest of this entry »

A recent announcement from the Federal Reserve stating that they are slowing down their purchase of mortgage backed securities signaling that the economy is recovering.  The government appears to be rolling back some of their extreme economic policy programs as a result thereof. It is the second time this year that the Federal government has slowed down its emergency economic programs. The government has promised to keep lending rates at all time lows for an extended period of time. Financial experts anticipate this could mean through the end of 2009 and into 2010. Commercial banks’ prime lending rates will stay around 3.25%, an all time low. These efforts are in hope to encourage people and businesses to spend money to stimulate our economy.

The Fed’s programs have helped to boost up the housing market. Interest rates on 30 year mortgages are around 5.04% on average nationwide. However, the housing market is still not out of the woods because there are a lot of foreclosures nationwide.

Because the Fed has been buying about $775 billion worth of both mortgage-backed securities and debt from Fannie Mae, Freddie Mac and Ginnie Mae, who are responsible for financing most new mortgages, it has help provide a demand in the marketplace for these securities thereby keeping interest rates down. Read the rest of this entry »

Investing in Denver, Colorado Tax Lien Certificates

The city and county of Denver rely on real estate property taxes to pay for city government services such as police, fire, public schooling and medical services. When taxpayers do not pay their taxes, they become delinquent. Delinquent taxes become a serious problem because there is not enough cash flow for the city and county of Denver to provide their government services to their residents. In order to receive cash, the county will offer investors the opportunity to pay off these taxes and in return receive tax lien certificates which pay a high yield of return on their investment and give the investors an opportunity to purchase Denver real estate for pennies on the dollar.

How Tax Lien Certificates Work?

Tax lien certificates are offered for sale at auction on or before the second Monday of December every year at the Denver County Treasurer’s office.   The bid is for the amount of the back taxes. After the investor pays the back taxes, the county issues the investor a tax lien Read the rest of this entry »