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For Home Buyers and Sellers in the Denver metro area & For local Denver, Colorado information please email Amanda@exitrealtydtc.com.
or call 303-324-7445
Amanda Hendershot, Realtor, Broker Associate, Douglas County Expert for 13 years!
*The Douglas County Buyers Assistance is still available through certain approved lenders. Qualifications are for residents who work in Douglas County, and meet income requirements. *
Douglas County includes the cities of Parker, Lone Tree, Castle Rock, Highlands Ranch, & Castle Pines. Adjoining communities are Littleton, Englewood, Elizabeth, Centennial & Ken Caryl. Via Robert Rauf (REMN The Real Estate Mortgage Network):
First lets take a quick look at last week: Last week ended up being a GREAT week for mortgages with only 1 negative day, but overall a gain of 25/32nds in price in Fannie 30years. That translates into a nice improvement on rate sheets! What is amazing about this is we had enough negative news that had the potential to raise rates. The 10 year auction did not go well, and the Fed said they would stop buying Treasuries at the end of September... Both BAD news for the credit markets. Yet the market shrugged off the bad news and we saw a nice improvement in interest rates.
So What's up for this week? We have a hand full of data to chew on and at the end of the week Bernake speaks. Here is the calendar:
- Monday August 17: well, another no news Monday but a happy market that is trading nicely in positive territory.
- Tuesday Aug 18: July Housing starts and building permits expected up 3.0% and up 1.7%. At the forecast levels we may see a bit of a bump up in rates, but there is a chance the unemployment and perceived stricter Underwriting standards have kept buyers out of the market... if we see a weak number because of this we will see a little improvement in rates.
- Tuesday: July PPI expected -0.3% with a core of +0.1%. The core is the important one here, at the forecast levels growth is weak enough to hold rates steady. The headline number looks week, but energy prices were down in July making the number look weaker than it really is.
- Wednesday August 19: another no news day. In the absence of data look to stocks to guide the credit market. Good days for stocks will be bad for rates.
- Thursday August 20: Initial Jobless Claims expected down 3,000. This weekly report has remained high, it is not likely to move the market.
- Thursday: July Leading Indicators expected +0.6%. This is a very forward looking number forecasting 6 months in the future. It "sorta" fits the Fed's idea of the economy not showing any sustainable growth until the end of the 1st quarter 2010.... But a "good news" number can be bad news for interest rates, so there may be a bit of upward pressure on rates.
- Friday August 21: July Existing Home Sales expected up 2.5%. This is a good news number with a touch of bad. Distressed home sales but improved buyer sentiment and a stabilizing economy are the factors. At these levels it is supportive of steady to potentially higher rates.
- Friday: Fed Chair Bernake is in Wyoming speaking at a Fed Conference. EF Hutton has NOTHING on the Chairman of the Federal Reserve. Whenever Bernake speaks the market listens intently. The market will look for any additional language (over and above last weeks post meeting statement) that will hint at how things will work as the stimulus spigot is turned off. The most likely scenario is that he will say nothing new and this will be a non event.
It is hard to pick a biggie of the week this week. If the numbers come in as forecast we may lose a little ground with out shedding any tears along the way... That leaves us with Stocks. Overall stocks have been doing fairly well, and Earnings Reports that are just winding down have shown good numbers for most companies, BUT... the positive gains are mostly because of layoffs, and that is not sustainable growth for the rest of the year. If this is the way the markets see these reports we may see some profit taking in stocks that will lead to a flight ot quality into the credit markets which will drive prices up and the yield down. That is more of a wild card scenario and I think it will be a quiet week over all.
Have a great week.
Rob
Robert Rauf
Mortgage Banker
www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf
(732)223-1630 x102
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey
For more indepth local market information email amanda@exitrealtydtc.com Via Robert Rauf (REMN The Real Estate Mortgage Network):
I hope you had a great weekend, I spent this past weekend sailing the Red Grant Regattaout of RYC. It was a great event with 98 boats registered just shy of the goal they set for 100. The event raised thousands of dollars for the Red Cross and will probably be the biggest regatta in NJ this year. You can see Photos of me sailing here. We had A GREAT regatta with 5 bullets in 5 races.
Well, now that you know what I did this weekend you probably want to see whats going on this week in the credit markets! Here is this weeks calendar with my typical Rob-isms tossed in for your reading pleasure.
- Monday July 20, 2009: June Leading Indicators was expected up .5% ended up being stronger than expected (up .7). This is the 3rd monthly gain and it is a very forward looking number which should be bad for interest rates, but by days end the Mortgage market was happy and closed up 6/32 which is enough for a small improvement in rates.
- TuesdayJuly 21: Fed Chair Bernake's Semi-annual testimony to House Financial Services Committee on Monetary Policy.
- WednesdayJuly 22: Day two, Bernake Talking in front of the Senate Banking Committee.
- Thursday, July 23: Initial Jobless Claims expected up 28,000. The markets are likely to ignore this number since they continue to view the markets as weak. As forecast this is supportive of steady rates.
- Thursday: June Existing Home Sales expected up 1.47%. If accurate this will be the strongest pace in existing home sales since October. Improving home buyer sentiment and distress sales are a big piece of this rebound, no matter the reason it is not supportive of lower rates.
- Friday: No News Day
- MondayJuly 27: June New home sales expected up 2.9%. Housing starts and permits have been strong so it is likely that there will be a gain, but it is already priced in and not likely to have any noticeable influence on the credit markets as forecast.
The Corporate earnings season for the second Quarter is up and running showing some signs of improvement. It is possible that better than expected earnings could be a sign that the recession is coming close to an end which will raise stock prices at the expense of slightly higher rates.
The Biggie of the week is most likely to be Bernake's testimony Tuesday and Wednesday. I am expecting him to say he will keep rates the same since he thinks it will take a long period of time for growth to return to normal levels. That's the "happy side" of his testimony.. The Bad side is if he says that the Fed will be exiting the market as a buyer. While the FED can not lower rates any further, they have helped keep rates low by being a buyer in both the Treasury and Mortgage Markets. If they exit these markets or hint that they may, it will be VERY bad news for interest rates. Remember, it is a matter of Supply and demand, lower demand means lower prices and higher rates.
I think he will make carefully crafted statements to keep the market guessing, (commonly called "fed speak") Lets hope that the Fed continues to stay in the markets to keep things stable until the economy is firmly back on its feet.
So my guess for the week, Stable to possibly slightly higher rates by week's end.
Have a great week.
Rob
Robert Rauf
Mortgage Banker
www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf
(732)223-1630 x102
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey
Great information from a lender friend!
Amanda@exitrealtydtc.com or 303.324.7445 for more information on a career at Exit Realty!
Via Robert Rauf (REMN The Real Estate Mortgage Network):
Commissions and the Short Sale
You may want to Visit Realtor.org for further info on this... it is a bit of old news from earlier this year but I still hear agents being asked to negotiate their commissions on a short sale. I have always advised listing a property at full commission for your area. In NJ "full" is typically 6%... and Fannie seems to feel that that is a fair number. It doesn't do you any good to list a potential short sale at a discounted rate! You will work harder and longer and you do deserved to be paid more than minimum wage! We are professionals in this business after all, NOT CLERKS, NOT ORDER TAKERS! When choosing a doctor you don't shop based on price do you? (I HOPE YOU DON'T)
This is the snippet from NJAR's Week in Review:
Fannie Mae Confirms Short Sales Commissions Policy
In discussions between the NATIONAL ASSOCIATION OF REALTORS® (NAR) and Fannie Mae, Fannie Mae has reconfirmed its short sale commission policy and established a process for REALTORS®to follow if issues arise. On February 24, 2009, Fannie Mae sent Announcement 09-03 to its servicers instructing them not to negotiate commissions on short sales below the amount negotiated by the listing agent, unless the commission exceeds 6 percent. The Announcement reminded servicers that third party approvals (i.e., private mortgage insurers) may be required and can affect commissions. In response to concerns raised by NAR that some servicers of Fannie Mae loans are unaware of this policy or believe it is not binding, Fannie Mae has established a process for NAR members when short sale commission issues arise.
So, next time some one asks you to cut your commission, mention Fannie Mae announcement 09-03. Just because it is out there, doesn't mean that lenders are conforming to it. Knowledge is power and we all deserve a pay check at the end of the day!
Have a great weekend!!!
Rob
Robert Rauf
Mortgage Banker
www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf
(732)223-1630 x102
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey
With some troubled years where media has really shown us the ways of the world, and oversea struggles. May each of you find a little peace & gratefulness for the Independance we share.
Activities around Denver, Colorado:
ARVADA
- Fireworks kick off at night (9 p.m. ish) on Saturday, July 4th at the Lutz/Stenger Sports Complex located just west of Kipling on W. 58th Avenue. The fireworks are set to a musical simulcast on KOOL 105.1. Festivities begin at 3 p.m. Call 720-898-7400, or go to ArvadaFestivals.com for more information. There will be lots of family fun which include a Kids Park with obstacle course, games, car show, temporary tattoos, food concessions, and entertainment all day. KOOL 105 will be hosting a classic car show. Parking will be on a first come first serve basis beginning at 2 p.m. No parking will be allowed on Kipling Street.
- Please remember that fireworks, alcohol and pets are not allowed in the Lutz/Stenger Sports Complex.
AURORA
- Fireworks will be launched 9:30 p.m. on Saturday, July 4, on the west side the Aurora Municipal Center lawn and can be viewed within a two mile radius. It is the largest fireworks display in the metro area and a features a performance by the Air Force Academy Band. Fireworks will be 25 minutes long and patriotic music will be simulcast on KEZW. The lawn at East Alameda Avenue and Chambers Road can fit about 2,000 people so there is limited seating. The fireworks also may be viewed from surrounding areas. Best viewing locations include east of Potomac Street, south of Sixth Avenue, north of Mississippi Avenue and west of Buckley Road. Places to park: Town Center at Aurora, Aurora City Place, and Community College of Aurora. For additional information, visit AuroraGov.org or call 303-739-7000.
BOULDER
- Fireworks spectacular at Folsom Field at the University of Colorado. Fireworks, choreographed to live music, begin at 9:30 p.m. Gates open at 7:45 p.m. and admission to the fireworks display is free. Other entertainment will be provided by the Skip-Its Jump Rope Team and the Boulder Philharmonic Orchestra. For more information, and on restricted items at the stadium go to City of Boulder.
CASTLE ROCK
- The Castle Rock Liberty Festival will be held at Metzler Ranch Park, 4175 Trail Boss Road. It's a holiday helping of family fun with kids events, live entertainment and of course, a fireworks show. The fun starts at 5:15 p.m. and ends with a fireworks show at 9 p.m. The website for the event is Town of Castle Rock.
DENVER
- Fireworks at Coors Field after the Colorado Rockies games on Friday, July 3 and Saturday July 4 against the Arizona Diamondbacks. Tickets required. For more information call (800) 388-7625 or 303-762-5437 or go to ColoradoRockies.com.
- Fireworks at Invesco Field at Mile High on Saturday, July 4 following Outlaws Lacrosse game. Learn more at InvescoFieldAtMileHigh.com
- Blues Traveler Concert at Red Rocks Amphitheatre. The concert begins at 6 p.m. Red Rocks provides a good view of the fireworks show downtown. For more information contact: 303-830-TIXS.
- The 18th Annual Cherry Creek Arts Festival will be taking place July 3-5. The arts festival weekend event is a world-class and award-winning celebration of the visual, culinary and performing arts. The CCAF is located in Denver's Cherry Creek North Business District, from 2nd to 3rd, on the six streets starting on Clayton through Steele. Fireworks for 2009 have been canceled. Learn more info at CherryArts.org.
- More events listed on Denver's City Web site or Denver.about.com
ENGLEWOOD
- Fireworks display will be launched from the baseball fields at Cornerstone Park at 9:30 p.m. on July 4th and can be seen from Belleview, Progress and Cornerstone Parks. There will also be games, entertainment, food and fishing on hand. For more information, call (303)762-2680 or go to City of Englewood. As a reminder, all alcohol, glass containers, pets and fireworks are strictly prohibited.
HIGHLANDS RANCH
- Fireworks will set off at 9:30 p.m. at the Intersection of Highlands on Ranch Parkway and Blake Drive on the 4th. For more information call 303-791-2500. For more info, click here. There will also be a parade, kiddie rides, events for pets and concerts. Parking available around the Highlands Ranch Town Center.
LONE TREE
- Residents from Lone Tree and Acres Green are invited to attend Lone Tree's 12th annual Independence Day Celebration, featuring the City's fourth annual Firecracker 5K Run, community parade, live entertainment, activities for kids, local food vendors and spectacular fireworks show. Wristbands are required to enter the celebration at Sweetwater Park. These wristbands can be purchased on July 2 and 3. Each household in Lone Tree and Acres Green can pick up four (4) wristbands and purchase an additional four (4) wristbands at $5.00 each (while supplies last). You must show a driver's license or billing statement with your current address to receive the wristbands. Kids ages 3 and under do not need to wear a wristband. Parade into park begins at 4 p.m. Fireworks Display start at 9:00 p.m. Call 303-708-1818 or go to CityofLoneTree.com for more info.
VAIL
- The 4th of July celebration starts in Golden Peak at 10 a.m. Fireworks will be shot at Golden Peak at 9:30 p.m. For more information call 970-376-3756 or go to ThinkVail.com
Looking for a Real Estate Agent that will help you buy and/or sell your next house? Want a "Free Real Estate Market Report" in your area of choice? Email Amanda@exitrealtydtc.com or call 303.324.7445
Thanks for reading my blog! I look forward to working with you.
I was featured in the homelisting service newsletter for the Denver area, Metrolist, after writing a post about our office going paperless last year. The transition has been a little tricky but it keeps getting easier as we learn the new process! Here's a link to the article:
Today's Paperless Office
We can all do our part by streamlining our process a little at a time. Honestly I think using the online service has made everything easier - and a LOT faster. It will take time for other offices to catch up to learning and accepting electronic signatures, but it does mean a lot less time in the car. At Exit we strive to be on the cutting edge of technology, providing the most comprehensive tools available for our clients.
For more information on a career with Exit Realty please email me at Amanda@exitrealtydtc.com Or call for an appointment 303.324.7445!
For Real Estate Information in Douglas or Denver Counties, including Parker, Castle Rock, Castle Pines, Highlands Ranch, Lone Tree, Englewood, Centennial, Littleton, and DTC please email me for free access to our home search tool! Amanda@exitrealtydtc.com. Thank you for your time!
rets
Just as we start to chomp at the bit for spring, at the cusp of season changing in Colorado beautiful favorite spots start to emerge. I know there is already a following for this place, but I stopped in with my parents last week for the first time to check out a local winery. You can see the storage tanks as you pull in to park at this seemingly small building. The tasting room and cafe are small, but expand onto a deck out back, hanging peacefully over bear creek. Ducks linger expectantly below as apparantly my children aren't the first to toss a few crusts! The menu is simple and delicious, sandwiches, soups, antipasto and cheese selections. The six of us tried a little of everything and it was all fabulous.
The best discovery of all though was that we really enjoyed the wines! You can stop in for a free taste, but we paid $5 each for 5 pours. My father liked the floral Reisling ($12), but the rest of us preferred reds. The shiraz, merlot and cabernet would all make my recommendation list! The Merlot ($30) was my fave, a traditional rich, balanced blackberry wine. The Cabernet has a bit more spice, and was the most pricey at $35 a bottle.
There was an interesting selection of red and white ports of different styles as well, And yes we tried 3 of them. I preferred the Late Bottled Vintage.
You can get directions, sign up for email specials and now purchase their wines on their site
http://creeksidecellars.net/
As the weather warms up this will be an amazing place to hang out. The hours are early closing at 5, except on Fridays, which they are starting to stay open until 8. It is the perfect place for taking out of town guests. Check it out - you won't be dissappointed!
Thank you for reading my blog! For any real estate questions about buying, selling tax credits, or short sales please email me at Amanda@ExitRealtyDtc.com Colorado Realtor, Residentail Sales in the Denver Metro area. Text or call 303.324.7445
Last night I attended the Grand Opening Cocktail Reception for the Landmark Towers. I have been showing lofts in the first building and was lucky enough to be invited to this huge gala. The building is perfectly suited for this type of affair. Beautiful furnishings, theatre screening rooms, libraries and media rooms. The gorgeous main hall was filled with well heeled Coloradans enjoying live music, food and drinks served by a gracious staff. Although it was a cold evening the occasional brave soul stepped out onto the terrace by the pool. The valet, the fountains all give a sense of pampering. If you are considering a loft style home in the Greewood Village or Englewood areas I would love to show you these. The prices start around $500,000 and go up to 2.2 million. The building boasts pools, exercise facilities and shops with dining and a movie theater all within walking distance.
Landmark Towers
To Search for homes available in Denver, Englewood, Greenwood Village, Cherry Creek, Littleton, Lone Tree or Highlands Ranch or buyers report email Amanda@exitrealtydtc.com
For a complimentary sellers market analysis email Amanda@exitrealtydtc.com
Thank you for reading my blog! I look forward to assisting you.
Has everyone done a business plan for 2009? It is so important to put your goals in writing and to come up with a strategy to meeting them!
I posted an article on this on ehow last month, over 500 hits so far.
Make your new Year Business Plan
At Exit Realty we have the people in position to help you make your plans, and hold you accountable to them. What is your brokerage doing to help you through a changing real estate market?
email me for a free buyers or sellers report or to learn more about Exit realty amanda@exitrealtydtc.com
OK - I just had to share. My 6 year old son made me a lego robot that makes recipes. I was excited as that is just what I needed! He is So thoughtful.
The first one he translated was bread with whip cream and sprinkles.
Second one was chicken with chocolate syrup.
I was starting to wonder if my robot was defective....
Remember making up recipes when you were a kid? If you ask mine, sprinkles make eveything better.
Hope you have a smile and a sweet memory this morning.
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Amanda Hendershot, Exit Realty DTC
Lone Tree,
CO
More about me…
Exit Realty DTC, Englewood, CO
Address: 383 Inverness Dr. suite 140, Englewood, CO, 80112
Office Phone: (303) 324-7445
Cell Phone: (303) 324-7445
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