Archive for April, 2010
Denver is in top 11 in latest Price Reduction report
Well, Denver did not make the top 10 list, but is sitting at number 11 out of the top 50 major cities in percent of listings with a price reduction coming in at only 18%, according to Trulia’s national price reduction report of March 2010. Looking further, this is a 5% improvement from their Nov, 2009 report, when Denver had 23% of the available homes creating a price reduction.
This current amount equals about a $34,939,000 savings, or loss depending on your situation as a buyer or seller.
Your home price may vary, and your circumstances could change, so call me at 303-888-2488 to discuss your home situation.
New Lead Based Paint Rules
Another Act we need to be aware of, as it pertains to Real Estate. For homes constructed prior to 1978, you and your contractor need to be aware of new rules, that affect the work on the homes, and requiring contractors to provide warnings of potential hazard. Ultimately this will be longer delays, and will add significant costs.
To view the Toxic Substances Control Act, click and print, keep in mind it is over 75 pages.
If you want to avoid this act, just buy real estate built after 1978. Call me to discuss your potential needs with regards to rental real estate, or fix and flip real estate, at 303-888-2488.
Bank Owned Homes, Not on the market, yet.
Our company has the inside track to a few Bank Owned homes that will be coming on the market in April and May.
Firelight of Highlands Ranch
Indigo Hills of Highlands Ranch
Stone Ridge Park of Aurora
Escavera in Castle Rock
Greenwood Village on 1.8 Acres
Give me a call to discuss these future homes, at 303-888-2488
Homebuyer Tax Credit Expires April 30, 2010
The homebuyer tax credits will expire soon. If you want to take advantage of these tax credits, you must act now. The tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between now and April 30, 2010. Buyers have until June 30 to close on their new home.
In addition to offering the $8,000 first-time homebuyer tax credit, the new law also allows a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more.
There is an $800,000 price limit on all homes eligible for the credit. The income limits for all buyers are $125,000 per year for individuals and $225,000 for married couples. The first-time homebuyer credit is available to those who have not owned a home in the previous three years. The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years.
Now it is April and we have 28 days left. Call me to discuss your plans of a home, at 303-888-2488.
