Homebuyer Tax Credit Extended
The “first-time” home buyer tax credit was extended and modified today by Congress. While there has been much debate here among Denver real estate brokers about the cost of the credit, there is no doubt that this move will help to continue to stimulate the recovering real estate market. Homebuyers will now have two tax credits available. The original $8,000 for first time buyers - actually for buyers who haven’t owned a home in the previous 3 years.  As well as a second credit available to current homeowners of $6,500.  To be eligible, buyers must have lived in their current home for 5 out of the past 8 years. The income limits fo

Help ~ We Can’t Find A Good House!
I’m working with a lovely family who is relocating to Denver in a few weeks.  We can’t find them the right house and their move date is looming. They want to be here and settled by December. After a 4 1/2 day marathon of 56 houses, we kind of narrowed it down to two possibilities. These buyers are looking in a fairly significant price point.  Not uber high-end, but

Denver Colorado Real Estate | September 2009 Market Statistics
In August, Denver had 20,225 active listings available on the market. In September, we were down to 19,834. With inventory naturally shrinking as we round into fourth quarter, Buyers are left with choosing a currently available home or waiting to see what might come on the market in coming months.  It’s not likely that many new properties will be listed from Halloween through the new year, and many buyers are faced with choosing between buying a home they’ve seen or waiting until

Earnest Money Requirements in Denver
Relocating buyers often ask how much earnest money they’ll need when they make an offer on Denver real estate. My answer? “It depends.” Some brokers and sellers request 3% some request 10%.  Earnest money requests/requirements are entered in the MLS, so your Buyer Agent can tell you what the sellers have requested.  3% is more the norm for mid-priced homes, 10% is extremely high. Howe

What the Fed Wants Buyers to Do
The Federal Reserve kept the Fed Funds Rate low again yesterday in their monthly meeting.  This rate is used for banks as a benchmark for their overnight lending to each other, and is a short-term rate. Mortgage rates track with the bond market, and not the Fed Funds Rate, however, conventional wisdom suggests that the Federal Reserve governors feel that inflation isn’t yet a risk, and that rates should remain low to keep the recovery moving forward. With rates