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Who Cares About Falling Interest Rates?The Fed rate cuts, glut of homes on the market and overall price reductions will certainly jump-start market activity throughout the country, but it still seems to me that more and more people have already been squeezed out of the housing market and it breaks my heart to know that so many people who really want to become homeowners may never get the chance. Please don't think I'm being negative - the opposite is true. I became a REALTOR because I am passionate (almost to a fault) about helping people realize the dream of homeownership. I've done well with my personal real estate investments over the past 20 years and I truly want everyone else to realize the dream and experience the joys and freedoms of homeownership. The world is full of the "have" & "have nots" and I just don't want to see more people getting left behind because it's simply not affordable. 7051 Zenobia St. - 5 Bed + 3 Bath - Westminster, CO - $214,950
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Welcome Home to Woodland Valley in Arvada, Colorado
Pride of Ownership - This sharp split-level home absolutely sparkles! Featuring 1,732 finished square feet with 3 bedrooms & 2 bathrooms, light & bright kitchen with eat-in space, covered back patio, fresh paint throughout, newer carpet on main level, beautiful pergo hardwood floors in the family room, an oversized & attached 2-car garage, huge 8,000 square foot lot with mature landscaping. Window coverings plus newer GE refrigerator & Kenmore dryer are included.
There's also an additional 800-1200 square feet of storage space in the beneath the home in the crawl space PLUS a large Tuff Shed in the backyard. SELLER IS VERY MOTIVATED - BRING AN OFFER!
Take advantage of a great opportunity to reside in a fine Arvada home in a great neighborhood. Located just West of 71st Ave & Simms St., this home is located close to top-rated Jeffco schools, shopping, entertainment & restaurants. You are only minutes from the foothills and 15 minutes to downtown Denver and Boulder!
No covenants or HOA fees. Available for immediate possession.
$214,950
Virtual Tour: http://anthonyrael.com/listings/11903/
SELLER IS VERY MOTIVATED - BRING AN OFFER!
Welcome Home to Wood Creek Condominiums in Arvada, Colorado 80003
5565 West 76th Ave.
Wood Creek Condominiums #1215
Arvada, Colorado 80003
Completely updated with cherry cabinets & brand new top-of-the-line Stainless Steel appliances.
Back on the Market! This condo has been completely renovated and shows better than new! Featuring 1,115 finished square feet with 2 huge master bedrooms & 2 full bathrooms, light & bright kitchen with eat-in space, top-of-the-line stainless appliances, covered back patio, fresh paint throughout, new carpet & slate tiled fireplace in the family room. This place doesn't need a thing - move right in today! Blue Ribbon Home Warranty included! Monthly HOA's of $160 include Clubhouse, Insurance, Pool, Snow Removal, Ext. Bldg. Maintenance, Trash & Grounds Maint.
Convenient Arvada, Colorado location with access to the top-rated Jeffco school district. This condominium offers easy access to Boulder or "LoDo", the Pepsi Center, Inveso Field at Mile High, DCPA & Buell Theater. Shop at Flatirons, Westminster Promenade or Westminster Mall.
$136,500
Denver MLS #: 475405
http://anthonyrael.com/listings/5565/index.html
I am currently working with a elderly family (one is 90% disabled) who was relocated to Denver Colorado after Hurricane Katrina. This couple used to reside in a wonderful 3 bedroom, 2 bath, 1700 square foot brick ranch style home in a neighborhood called Lakeview in New Orleans - very close to Lake Pontchartrain where the levies broke. Their daughter also lived a half mile closer to the lake - lost everything too. However, with the help and support from Village Homes & their in-house mortgage company, I helped the daughter of a family I am working with, relocate to Broomfield last April.
Anyway, their home of 45+ years was completely destroyed - including all personal belongings - there was literally nothing left. The home has since been scraped and the lot sold to pay off the small mortgage balance. 18 months later, they have yet to receive any reimbursement from their insurance company (probably never will) and the only assistance they received from FEMA is rental assistance for a temporary 600 square foot, one-bedroom apartment.
They are finally at a point where they have decided to permanently relocate to Colorado and live close to their two daughters (one I mentioned above). We have finally located a property - and God willing - we will close in mid-March. But for any of you who have worked with SBA for a the Katrina Flood "low-interest loan programs", don't you find it strange that they can not or will not tell you in advance how much the family can qualify for? When writing offers, the lender letter is always the second or third page right? But how can you get a lender approval letter when the lender (SBA) requires you to submit a puchase contract FIRST! It's kind of the cart-before-the-horse scenario. If you are lucky enough to find a good agent and reasonable sellers, it is possible.
I'd like to pose a few questions for those of you who have worked with SBA before on a Katrina Mandatory Relocation project. What was the loan approval process like? I understand that they have a $200k loan limit for residental real estate (which doesn't buy much in the Denver market), but I have also heard dozens of stories of people who somehow secured a lot more money than that when SBA factored in their personal losses. What's the best approach to pushing the SBA loan officer along sooner? The default SBA loan amount is simply not enough to pay for the same type of home in the Denver market. Somehow/someway, my clients will have to come up with another $40-50k. The good news in all of this is that the SBA low interest loans are fixed at ~2.6% for 30-years and they don't charge any closing costs (at least that's my understanding).
If you have any advice for working efficiently with SBA or securing additional funds to relocate in Colorado or other parts of the country, I'd love to hear your stories.
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Anthony M. Rael
http://anthonyrael.com/