To get pre-approved for a loan and/or rent a credit check will be ran. Having said that, a lender can guide or assist you in raising your credit score. Be upfront before they run a check and see if you would qualify. Keep in mind that when they run a credit check it can lower your score from 2 to 5 points. If you know for sure you have a bad score, you might want to think twice about running it.... more
Folks, don't wait for the Federal Government to swoop in and fix the foreclosure crisis. Hot as the market seems right now here in the Denver area, and now that the Attorneys General have settled their claims with the largest banks, banks will be starting up foreclosures again in massive numbers. Know that most economists believe it will be another six years before all the distressed inventory has worked its way through the market. Half of all foreclosures that will have resulted from the crisis that began in 2007, have yet to go through foreclosure!
It is very important that everyone understand that the foreclosure process in Colorado is the only one of its kind in the country, and that Colorado state law was changed in 2006 to make it almost impossible for homeowners to fight a faulty/fraudulent foreclosure. I am still encountering homeowners who have had fraudulent (robo signed) documents recorded on their properties!
Representative Beth McCann is introducing legislation, next week I believe, to fix the 2006 law that gave banks the right to take anyone's home without proving they really own the note. All it takes is for the foreclosure attorney representing the bank to sign a "Qualified Holder" statement saying the bank has the right to foreclose, whether they have seen the actual paperwork or not! This is outrageous and deprives homeowners of legal due process. It is really important that we get behind this bill in the Colorado House of Representatives and get it passed. Contact the representative from your district and insist they pass this important legislation, this year.... more
Hi Rubin, I live in this area and I am not a realtor who is trying to get their paycheck padded. I think the 350,000 you have offered is on the high end for what these homes are really selling for. Stick to your guns on the price you have offered. Who ever the seller is, they are making a nice little profit for the area. I would expect the price for these homes to go up, as it is a nice convenient location, and with the expansion of the Tech Center and the commuters driving in every day from the South, we are in a good place to negotiate well. Good luck to you in your new home. It's quiet and an older community. Pamella... more
The Boulder/Denver real estate market is experiencing Low Inventory, Excellent Interest Rates and quick movement. We could - could I say - be on the cusp of swinging from a Buyer's market to a Seller's market. As this change occurs, home values will lead - be higher than the previous sale. What was occuring for the past several years was that home prices were lagging - possibly showing at or less than the previous sale. This is a pretty excitime time in real estate. You might want to interivew some buyer's agents to find out about the market and whether the home just seems expensive or is truly a good value. When you purchase, you are entitled to have an agent represent your best interests, so why not find someone now!!... more