Posts Tagged ‘Boulder homes for sale’

Boulder Area Markets Continue Rebound

Boulder Area Markets Continue Rebound

March 2012 single family home sales in Boulder area markets improved significantly from February 2012; 270 compared to 172 respectively, up 57%. When compared to the 212 single family home sales in March 2011 there is a strong 27% increase. Condo and Townhome sales improved in March 2012 over February 2012 by more than 42%, 88 units versus 62. And, when compared to March 2011’s 75 units sold, March 2012 saw a 17% increase in units sold. Go to http://www.baraonline.com/sites/bara/files/statistics/March12stats.pdf to view stats.  http://www.baraonline.com/sites/bara/files/statistics/March12PricePoints.pdf to view sales by price point.

Joel Thompson RE/MAXAlliance

joelathompson@hotmail.com 303-877-0060

Search all of Boulder County homes for sale

Advertisements

Successful Short Sales: Giving the Lender What They Want

Successful Short Sales: Giving the Lender What They Want

Short sales are enjoying a much-needed resurgence as lenders become more motivated to move short sale transactions through the pipeline more quickly. So, if you’ve soured on short sale business, now is the time to rethink your position as the lending landscape begins to change.

Your approach to successful short sales must be focused in two areas: making sure the seller is truly a short sale candidate  and making sure you foster the right relationship with the lender.

A little secret nobody realizes is that many lenders are desperately looking for a competent real estate partner in the short sale arena. I walked into my local bank, for example, and discovered that they were getting barraged with calls from clients inquiring about a short sale on their property. While a lot of us think that banks are against short sales, the reality is, they just don’t have the time to handle the volume.

This is where huge opportunity lies for real estate professionals. Take the time to build a relationship with your local lenders, understand exactly what they need in order to process a short sale, and then be the conduit throughout the entire process. In other words, work with your clients to give lenders what they want. This will eliminate notorious delays and save you, your client and the lender precious time.

Following is the lender package that I require all short sale clients to complete. When it comes to short sales, the devil is truly in the details.

Required Items: Before the Sales Contract
1. Cover letter
2. Table of contents (this lets the lender know right away that everything they need is included)
3. Third-party authorization
4. Seller’s tax returns from the previous two years
5. Seller’s bank statements from the previous two months (six months is even better)
6. Most recent paystubs
7. Seller’s hardship letter
8. Bank worksheets (financial situation)
a. Current
b. Projected in next three months
c. Projected in next six months
9. Listing agreement

Required Items: After the Sales Contract
10. Necessary short sale addendums
11. History of listing – market report
12. Sales activity report
13. Local community economic report
14. CMA/absorption rate
15. Sales contract
16. HUD-1
17. Buyer’s pre-approval letters
18. Earnest money verification
19. Damage report with photos
20. Carry cost estimate
21. Agent personal letter

By providing banks with the right information, you are helping them push through the glut of short sale requests. Make sure you become their partner in this effort.

Short sales aren’t as complicated as you may think. Let me help walk you through the process.

Joel Thompson RE/MAXAlliance

joelathompson@hotmail.com 303-877-0060

Search all of Boulder County homes for sale

The Housing Recovery Is Slow Going, but Things Are Improving

The Housing Recovery Is Slow Going, but Things Are Improving

 

 There has been a flurry of media stories regarding the latest housing data that suggest the recent momentum in the housing market has stalled and the industry is heading toward another downturn.

Although the latest monthly housing data showed modest declines, the less volatile quarterly data have continued to show modest improvement. Consequently, there is plenty of evidence for retaining a cautious optimism for a gradual recovery. While the February new-home sales rate dipped a nominal 1.6 percent, sales are still running 11.4 percent above their year-ago level and at the rate expected for the slow recovery. Meanwhile, the inventory for new-homes for sale remains at an all-time record low.

While combined U.S. housing starts lost some ground in March, this was almost entirely due to typical month-to-month volatility on the multifamily side. The fact is that single-family and multifamily starts and permits were all stronger in the first quarter of 2012 than they were in the fourth quarter of 2011, indicating that the market continues to slowly strengthen, albeit in fits and starts.

We are also seeing the long-term improvement in housing conditions continuing to take hold in a growing number of local markets. The April NAHB/First American Improving Markets indicates that 101 individual metros are showing measurable and consistent signs they are heading in the right direction.

Total job growth continues upward, providing added consumer confidence and pushing personal income up.

No one is anticipating that an upward path for housing will run in a straight-line trajectory. The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead.

However, the National Association of Home Builders (NAHB) believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012. We will provide more details on our perspective on national and regional housing trends at the Spring NAHB Construction Forecast Webinar on Wednesday, April 25 from 2 p.m. to 4 p.m. Eastern time.

 www.nahb.org/cfw

Joel Thompson RE/MAX Alliance

joelathompson@hotmail.com 303-877-0060

Search all of Boulder County homes for sale

Boulder Area Markets Continue Rebound

Boulder area Market Correction- Numbers are better than we thought

Boulder Area Markets Continue Rebound

March 2012 single family home sales in Boulder area markets improved significantly from February 2012; 270 compared to 172 respectively, up 57%. When compared to the 212 single family home sales in March 2011 there is a strong 27% increase. Condo and Townhome sales improved in March 2012 over February 2012 by more than 42%, 88 units versus 62. And, when compared to March 2011’s 75 units sold, March 2012 saw a 17% increase in units sold. Go to http://www.baraonline.com/sites/bara/files/statistics/March12stats.pdf to view stats.  http://www.baraonline.com/sites/bara/files/statistics/March12PricePoints.pdf to view sales by price point.

Joel Thompson RE/MAXAlliance

joelathompson@hotmail.com 303-877-0060

Search all of BoulderCountyhomes for sale

 

Tips to Avoid Getting Ripped Off on Craigslist

Tips to Avoid Getting Ripped Off on Craigslist

 Buying and selling on Internet classified sites such as Craigslist can be a great way to find a deal and make extra cash. But it can also expose you to a host of scams. Here are some tips to help keep you from being ripped off:

Meet the other party in person. By following this single rule, according to Craigslist, you will avoid 99 percent of attempted scams on the site. Any time the other party is unable or unwilling to meet face to face, it should be a huge red flag. Continue reading

Consumers Can Learn Credit Awareness

Consumers Can Learn Credit Awareness

As many people celebrate the arrival of warmer weather and Spring Break vacations, the freecreditscore.com™ band took to the sun and surf to star in the newest freecreditscore.com television commercial, “Credit Wipeout.” The new 30-second spot, draws attention to the situations that can impact a person’s credit status while encouraging consumers to learn more about those factors.

“Every individual’s personal credit story is unique, and we’ve found that bringing financial factors to life in a fun and relatable way, such as in the new commercial, helps people understand the impact simple actions can have on their credit scores,” says Ken Chaplin, senior vice president of marketing for freecreditscore.com. “Experian Credit Advisors, Inc. helps individuals better understand how to take control of their credit.”

Experian Credit Advisors, Inc. (an affiliated company, in partnership with the iQual Corporation), offers freecreditscore.com members personal, one-on-one sessions, designed to empower consumers to proactively manage their credit through education and useful tips, in an effort to provide a better understanding of credit and the role it plays in their lives.

“Through our agreement with Experian Credit Advisors, Inc., iQual Corporation will offer credit advisory sessions to freecreditscore.com customers who purchase the service,” says Jeff Mandel, CEO of iQual Corporation. “We provide Experian Credit Advisors, Inc. customers with highly trained credit advisors, timely access to credit education, and online resources focused on financial literacy and empowerment, which may help individuals improve credit scores, qualify for new credit, and even reduce unnecessary monthly interest expense.”

For more information, visit www.freecreditscore.com  or http://www.experianplc.com

Joel Thompson RE/MAX Alliance

joelathompson@hotmail.com 303-877-0060

Search all of Boulder County homes for sale

February Home Price Index Reports Month-Over-Month Increase

February Home Price Index Reports Month-Over-Month Increase

Excluding distressed sales, month-over-month home prices increased 0.7 percent in February from January, according to CoreLogic®, a provider of information, analytics and business services. The company’s February Home Price Index (HPI) also showed that year-over-year prices declined by 0.8 percent in February 2012 compared to February 2011. Distressed sales include short sales and real estate owned (REO) transactions.

Additionally, the report shows national home prices, including distressed sales, declined on a year-over-year basis by 2.0 percent in February 2012 and by 0.8 percent compared to January 2012, the seventh consecutive monthly decline.

“House prices, based on data through February, continue to decline, but at a decreasing rate. The deceleration in the pace of decline is a first step toward ultimately growing again,” said Mark Fleming, chief economist for CoreLogic. “Excluding distressed sales, we already see modest price appreciation month over month in January and February.”

“The continued strength of sales activity and tightening inventories in many markets are early and hopeful signs that prices will continue to stabilize and improve in the coming months. In fact, non-distressed home sale prices, which represent two-thirds of all sales, have appreciated by just over 1.0 percent since the beginning of the year,” said Anand Nallathambi, president and CEO of CoreLogic.

Highlights as of February 2012
-Including distressed sales, the five states with the highest appreciation were: West Virginia (+8.6 percent), Michigan (+5.8 percent), Florida (+4.7 percent), Arizona (+4.5 percent) and South Dakota (+4.1 percent).

-Including distressed sales, the five states with the greatest depreciation were: Delaware (-11.2 percent), Connecticut (-7.9 percent), Rhode Island (-7.8 percent), Illinois (-7.1 percent) and Georgia (-6.6 percent).

-Excluding distressed sales, the five states with the highest appreciation were: South Dakota (+5.9 percent), West Virginia (+5.6 percent), Maine (+4.5 percent), Utah (+3.7 percent) and Montana (+3.6 percent).

-Excluding distressed sales, the five states with the greatest depreciation were: Delaware (-8.7 percent), Connecticut (-4.9 percent), Nevada (-4.6 percent), Vermont (-4.0 percent) and Minnesota (-3.3 percent).

-Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to February 2012) was -34.4 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -24.6 percent.

-The five states with the largest peak-to-current declines including distressed transactions are Nevada (-60.2 percent), Arizona (-49.8 percent), Florida (-48.6 percent), Michigan (-44.0 percent) and California (-43.7 percent).

-Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 67 are showing year-over-year declines in February, nine fewer than in January.

For more information, please visit www.corelogic.com

Joel Thompson 303-877-0060 joelathompson@hotmail.com

Boulder county homes for sale