Paul Gruber CRS, e-PRO's Blog

How long will it take for Carmelo Anthony’s Littleton home to sell?

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Wed, 02 Mar 2011 19:07:15 -0800

First placed on the market in June of 2010 this property boasts 21000 square feet 8 bedrooms and fifteen bathrooms in the main house plus a guest home with sound studio and two other structures located on 5.7 gated acres in The Denver Metro Suburb of Littleton Colorado. Plenty of room for your car collection and horses with the seven car garage, also 3 stall barn with pasture and pond.

Yours for only $9,500,000.

Why is someone taking a picture of my house?

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Mon, 28 Feb 2011 12:06:40 -0800

I have had a few of my clients call me lately in a fluster saying that someone is taking a picture of their home and they are concerned and upset as they were not told this was going to happen.

Usually the person that is taking a picture of your home is an Appraiser doing a drive by Appraisal or a Realtor doing a BPO (Broker Price Option). Most of the time this happens when you are behind on your mortgage and trying to do either a Short Sale or a Loan Modification. In most cases this happens in the latter stages of the Short Sale or Loan Modification process and is usually a good sign that everything is in process and you will most likely get an answer on you Short Sale or Loan Modification soon.

Paul Gruber

Broker

The Edge Group Inc.

Direct: 303-886-5991

Fax: 1-888-847-9118

paul@theedgegroup.net

www.theedgegroup.net

Providing a Superior Level of Real Estate Services

FHA raises mortgage insurance premium and may hurt Denver Metro home values

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 24 Feb 2011 11:55:56 -0800

The FHA is boosting the annual mortgage insurance premium charged on its home loans, a move that will increase the cost of an average FHA mortgage by about $30 a month.

Effective April 18, the FHA is increasing the annual mortgage insurance premium (MIP) on 30- and 15-year fixed-rate mortgages by 25 basis points, or one-quarter of one percent of the total loan value. The action is intended to help replenish the agency's capital reserves, which have been depleted due to losses on bad loans in recent years. The move almost immediately implements one of the Obama administration's recommendations for reforming the U.S. housing finance market, submitted to Congress on Friday. The increase will not affect existing FHA mortgages, nor will it be charged on FHA reverse mortgages, or home equity conversion mortgages (HECMs).

Capital reserves depleted

"After careful consideration and analysis, we determined it was necessary to increase the annual mortgage insurance premium at this time in order to bolster the FHA's capital reserves and help private capital return to the housing market," said FHA Commissioner David Stevens, in announcing the increase. "This quarter point increase in the annual MIP is a responsible step towards meeting the Congressionally mandated two percent reserve threshold, while allowing FHA to remain the most cost-effective mortgage insurance option for borrowers with lower incomes and lower down payments." The FHA is directed by Congress to maintain a capital reserve equal to at least 2 percent of its outstanding loans, but that has fallen to around 0.5 percent with the downturn in the housing and mortgage markets. The new fees are expected to generate about $3 billion a year for the fund, which held about $3.6 billion at the end of FY2010.

How much will it cost?

The FHA calculates the fee increase will raise the cost of a $157,000 mortgage, typical for FHA borrowers, by about $33 a month. The upfront fee of 1 percent of the amount borrowed charged on FHA loans at the time the mortgage is originated will not change. The fee increases mean that FHA borrowers will be paying about twice as much for mortgage insurance on a 30-year loan than they would pay for private mortgage insurance (PMI) on a non-FHA mortgage. Borrowers who put at least 5 percent down on a 30-year FHA mortgage will pay an annual insurance premium of 1.10 percent of the loan value; those making a smaller down payment will pay 1.15 percent. For 15-year mortgages, the MIP will be 0.25 percent on mortgages with at least 5 percent down, and 0.50 percent on those with less. By comparison, PMI is typically half a percent of the loan balance. Both types of mortgage insurance effectively increase the mortgage interest rate a borrower pays by whatever the insurance rate is, since they're all charged as a percentage of the loan amount. For example, a 30-year mortgage at 5.0 percent interest and a 1.10 percent MIP is essentially the same as a loan at 6.10 percent and no MIP.

FHA raises mortgage insurance premium and may hurt Denver Metro home values

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 24 Feb 2011 11:48:17 -0800

The FHA is boosting the annual mortgage insurance premium charged on its home loans, a move that will increase the cost of an average FHA mortgage by about $30 a month.

Capital reserves depleted

How much will it cost?

Should I consider a Deed in Lieu, Short Sale or just go the Foreclosure route in Colorado?

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 22 Feb 2011 12:55:35 -0800

Deed in Lieu:

A deed in lieu of foreclosure is where you deed your property to the lender in exchange for being forgiven the entire amount of the mortgage. The lender then sells off the property in order to retrieve as much of the unpaid mortgage amount as they can. In my Real Estate career I have only seen a Deed in Lieu accepted by a Mortgage company as Colorado is deficiency state. The transaction was with an estate sale so I understand why the mortgage company did the Deed in Lieu as the deceased person didn't have any assets or future income to go after.

What Is A Deficiency Judgment?

A deficiency judgment is a judgment lien against a debtor, defendant or borrower whose foreclosure sale did not produce sufficient funds to pay the mortgage in full. This option may or may not be available to the lender, depending on whether they have made a recourse or non-recourse loan.

The fuller, statutory definition as defined by New York is: "the whole residue, or so much thereof as the court may determine to be just and equitable, of the debt remaining unsatisfied, after a sale of the mortgaged property and the application of the proceeds, pursuant to the directions contained in such judgment, the amount thereof to be determined by the court as herein provided.

The plaintiff's attorney (in other words, the bank's lawyer) must make a motion to receive such a deficiency judgment. Otherwise, the amount gained from the sale shall be deemed the full amount owed, and the plaintiff has no right to collect the additional debt. However, if the parties (mortgagor and mortgagee) have already agreed in their mortgage or promissory note, then the debtor could be liable for the full amount.

A debtor who has a deficiency judgment should see an attorney for possible remedies, including bankruptcy, an exemption from creditors, an appeal, or a motion. As with all legal research sources on-line, Internet users should take caution before applying such advice to your own case, and perhaps should consult an attorney.

Example: Upon Default by the Mortgagor a lender forecloses on the mortgage. The unpaid balance of the loan is $102,000. The property is sold at public Auction and brings $80,000. The lender then seeks a deficiency judgment against the mortgagor to recover the $22,000 shortage, plus foreclosure expenses.

Deficiency States

Legislation enacted during the Depression still restricts the availability of deficiency judgments in several states. In some jurisdictions, deficiency judgments are prescribed in certain situations, while in other states, they are limited to the amount by which the debt exceeds the fair market value of the property. Waiver, the intentional relinquishment of a known right, of the benefits conferred by anti-deficiency legislation contravenes public policy and is ineffective.

In non-deficiency states like Arizona a lender is unable to pursue any type of a deficiency judgment. Concerning foreclosures non-deficiency states are advantageous to owners in foreclosure because the lender is unable to pursue the deficiency judgment.

What is a Short Sale?

A short sale is the process by which a homeowner can sell a house for less money than actually owed on the mortgage(s).

There are alternatives to bankruptcy or foreclosure proceedings for homeowners/borrowers who can no longer afford to keep mortgage payments current. One of those options is called a "short sale." Sometimes, to avoid going through the costs of foreclosure, a lender will sanction a short sale by allowing a homeowner to sell (allowing a buyer to purchase) the home for less than the mortgage balance while the home is in pre-foreclosure stage.

In 90% of my short sale cases I have been able to get the mortgage company to accept the short sale and not go after a deficiency after the sale is complete.

Sample steps of a short sale:

•Seller signs a listing agreement with a real estate agent subject to selling as a short sale with third-party approval.

•The owner, or if the owner has an agent, finds a buyer who makes an offer for less than the amount of the mortgage.

•Seller accepts the buyer's purchase offer subject to the lender's approval.

•Seller's lender accepts the buyer's purchase offer.

•Transaction closes when the buyer delivers the funds, the lender releases the lien and the seller delivers the deed.

The decline in market value of a property below the total debt owed on that property does not automatically qualify a homeowner for a short sale. Banks take several factors into consideration when determining if it will allow for a short sale to occur.

Qualifications for a Short Sale

• The Home's Market Value Has Dropped. Comparable sales must substantiate that the home is worth less than the unpaid balance due the lender. This unpaid balance may include a prepayment penalty.

• The Mortgage is in or Near Default Status. It used to be that lenders would not consider a short sale if the payments were current, but in many cases, lenders realize that other factors contribute to a potential default making them eager to head off future problems.

• The Homeowner Has Fallen on Hard Times. The homeowner must submit a letter of hardship that explains why they cannot pay the difference due upon sale, including why the homeowner has or will stop making the monthly payments.

Examples of hardship are:

􀂃 Unemployment

􀂃 Divorce

􀂃 Medical emergency/sudden illness

􀂃 Bankruptcy

􀂃 Death

􀂃 Other unforeseen circumstances that caused financial

hardship

• The Homeowner Has No Assets. The lender will probably want to see a copy of the owner's tax returns and/or a financial statement. If the lender discovers assets, the lender may not grant the short sale because the lender will feel that the homeowner has the ability to pay the shorted difference.

Homeowners with assets may still be granted a short sale but could be required to pay back the shortfall.

Short Sale Consequences

A short sale is dependent on a buyer making an offer to purchase. If you do not receive an offer, you will not qualify for a short sale. So even if you meet all the other criteria, it is possible that no one will buy the short sale.

It is also dependent on the lender accepting the buyer's offer. If the lender rejects the offer, a short sale will not take place.

• Tax Consequences. If the lender agrees to the short sale, the lender may possess the right to issue you a 1099 for the shorted difference, due to a provision in the IRS code about debt forgiveness. Many situations are exempt from debt forgiveness, according to the Mortgage Forgiveness Debt Relief Act of 2007.

You should speak to a real estate lawyer and a tax accountant to determine the amount of short sale tax consequences, and whether you can afford to pay those taxes, if any.

• Blemished Credit Report. A short sale will show up on your credit report. It's a pre-foreclosure that has been redeemed. Short sales affect credit ratings. While the damage to your credit report may not seem as bad as a foreclosure to you, creditors may not make the distinction.

Always seek legal counsel before attempting to pursue a short sale. A real estate agent cannot give you legal advice.

Foreclosure

There are a number of concerns in the case of homeowners allowing their homes to go into foreclosure because they cannot afford them anymore, and what the consequences will be for such a decision. Before choosing to let a house go into foreclosure, though, every homeowner should look into a few other options to stop foreclosure first. While foreclosure refinancing is the option that most homeowners attempt first, credit and income considerations and tighter lending guidelines have precluded most homeowners from qualifying for a loan right now. This makes it necessary for homeowners to gain more broad foreclosure advice and look at other methods to save their home before willingly allowing it to go into foreclosure.

Regardless of the homeowners' financial situation and the current real estate market, the house should be listed on the market just on the off-chance than an interested buyer wants to purchase it before the foreclosure goes through. Selling to avoid foreclosure is always a better option than foreclosure. Foreclosure victims can also try to work with the lender for a short sale, where they would sell the property for less than what they owe on the loan, including all of the miscellaneous foreclosure costs and accelerated interest. With this option, at least the short sale will pay off the loan and save the homeowners' credit more than having a foreclosure show on their report.

Paul Gruber

Broker

The Edge Group Inc.

Direct: 303-886-5991

Fax: 1-888-847-9118

paul@theedgegroup.net

www.theedgegroup.net

Providing a Superior Level of Real Estate Services

Check me out at:

www.theedgegroup.net

WOW! Lots of Character.

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 16 Mar 2010 13:51:48 -0700

This 1929 Denver home is in need of renovation but almost any qualified owner occupant / buyer can get an FHA 203k home renovation loan and make this property in the home of your dreams. The 203k loan will enable you to borrow the extra money to do almost anything from designing the kitchen of you dreams, bathroom remodels, new flooring, windows, roof and may other renovation projects. The home across the street was listed at $299,900 and is currently under contract. If you would like more info about this home or a FHA 203k loan click http://www.theedgegroup.net/content/contact.html or call us today at 303-980-0799.

HUD home- EOH

Courtesy of

MB DENVER COLORADO REALTY

Short Sales I like to call them Long Sales

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 11 Mar 2010 15:26:59 -0800

Considering trying to buy a short sale? You will need to ask yourself a few questions first.

1) Am I willing and can I to wait 3-4 months to get an answer from the sellers lender?

2) Do I fully understand that the seller lender may come back after I wait 3-4 months and say NO?!

3) Do I fully understand that the sellers lender will probably want more money for the property than I have offered and am I will to pay more?

4) Do I fully understand that the seller's lender may never give the seller or myself and answer and just foreclose?

5) Do I fully understand that in most cases these homes are sold as-is where is and the seller or the sellers lender will NOT DO ANY REPAIRS?

6) Do I fully understand that if I need or want my closing costs paid from the seller side of the transaction the seller lender might say no and I will have to pay an additional 3%+ in closing costs to acquire the home?

7) Do I fully understand that a lot of brokers that are trying to sell short sales have never done one before and have no idea of what they are doing even thought they have taken a class on it and are certified.

I can go on and on with the pitfalls of these transactions but the fact of the matter is if you answered no to any of these questions and still proceed to look at short sales for your future home you are just SETTING YOURSELF UP FOR THE BIGGEST DIAPPOITMENT OF YOUR LIFE!

To look at home that are really for sale no games no gimmicks and a smooth transaction click http://www.theedgegroup.net/content/contact.html

Paul Gruber CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

303-886-5991

Columbine West Littleton Colorado

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 11 Mar 2010 11:01:06 -0800

The Columbine West subdivision is located in Unincorporated Jefferson County Colorado. Many people think it is in Littleton but it just has a Littleton post office so the address reads Littleton.

Columbine West is a well-kept subdivision comprised of about 1700 home most of which were built in the early 1970's. Home range in value from condos ranging from around $125,000 to $200,000, Town Homes ranging from around $150,000 to $280,000 but mostly single family homes ranging from around $200,000 to $350,000.

The neighborhood elementary school is Dutch Creek, middle school is KenCaryl and high school is Columbine High school. For school rating in this and other communities click http://www.theedgegroup.net/schoolSearch.page the zip code is 80128.

Values in the Columbine West are have remained stable even in the foreclosure crisis. The crisis did not impact this area as much as other areas located in Colorado. The foreclosure rate has been minimal and mot many short sales have taken place.

I have lived in the Columbine West subdivision for 13 years and have seen the area only improve over this time. As a Realtor I have sold many home in Columbine West and found them very easy to market due to the high demand for the area.

If you are interested in selling your home in Columbine West please click http://www.theedgegroup.net/content/articles/freecma.html for a free home evaluation.

If interested in buying a home in Columbine West click http://www.theedgegroup.net/content/contact.html

Paul Gruber CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

303-886-5991

Buying a Foreclosure

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Wed, 10 Mar 2010 11:46:24 -0800

Most people think that buying a foreclosed home is a good deal. But what is a good deal? If looking at many foreclosures, putting in many offers which many are rejected, no FHA available financing, many repairs required and the lender selling the home as is looks like a good deal then foreclosures are for you.

A lot of my buyers over the last several years start out wanting to look at foreclosures and distressed properties but end up buying a home from a regular seller or a fix and flip investor. I was at a seminar yesterday and was told that in today's market 80% of buyers start out looking at foreclosures but only 8% end up buying a foreclosure. In my option I think that is ultimately due to the fact people are not looking for a lot of headaches they are looking for a HOME.

To find you home in the Denver market area click http://www.theedgegroup.net/content/homefinder.html

Paul Gruber CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

303-886-5991

Highlands Ranch Colorado Real Estate Market and Selling Your Highlands Ranch Home

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Wed, 10 Mar 2010 11:27:29 -0800

Some might think that the market is bad but I have been selling Real Estate in the Highlands Ranch market for years and prices are stable. Sure we have all seen that foreclosure in our neighborhood go for what seems to be next to nothing but the truth is, a home in good condition still is going for top dollar and selling within a reasonable amount of time.

If your thinking of waiting to move into a bigger home and are thinking it is better to wait just remember the real estate market usually goes up in percentages so if you have a $200,000 home and your looking at a $350,000 home and real estate goes up 5% in the next two years your $200,000 home will be $210,000 but you $350,000 home will be $385,000.

So as the saying goes " you snooze you loose"

To find out what your home is worth click http://www.theedgegroup.net/content/articles/freecma.html

Paul Gruber CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

303-886-5991

Littleton Colorado Real Estate Market and Selling Your Littleton Home

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 09 Mar 2010 16:05:06 -0800

Some might think that the market is bad but I have been selling Real Estate in the Littleton market for years and prices are stable. Sure we have all seen that foreclosure in our neighborhood go for what seems to be next to nothing but the truth is, a home in good condition still is going for top dollar and selling within a reasonable amount of time.

So as the saying goes " you snooze you loose"

To find out what your home is worth click http://www.theedgegroup.net/content/articles/freecma.html

Paul Gruber CRS, e-Pro, REALTOR

Broker

The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7138 W Roxbury Ave

Littleton, CO 80128

Home Buying Tips For the Internet Age

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Mon, 06 Jul 2009 15:40:52 -0700

by Brandon Cornett

The Internet has made the house-hunting process quicker and easier by putting a wealth of information at your fingertips. Literally. But many home buyers don't realize the many ways that web technology can help them. So let's take a look at some of the ways you can use the Internet to simplify your home search process.

1. Hire a Modern, Web-Savvy Agent

As far as Internet technology goes, there are two types of real estate agents. The first type views the Internet as a "gadget" that's not worth their time to learn. They use the Multiple Listing Service (MLS), and only that service. They are not web-savvy, and therefore have a limited view of the real estate world around them.

The second type is part of the new generation of web-savvy real estate professionals. This agent knows the value of the Internet, and is "wired" into all of the major home-search websites, among other things. This agent can help you find and research properties more quickly by using the power of Internet technology. He or she is pretty handy with digital cameras, mobile devices, and other useful tools as well.

2. Use the Big Home-Search Websites

Over the years, real estate search engines have exploded both in quantity and complexity. These days, you can visit one of these websites and gain instant access to local property listings, recent sales data in your area, and more. This is an excellent way to screen houses before you visit them, which can save a lot of time.

For example, if you only saw a black-and-white photo of a home in the newspaper, you wouldn't know what the inside rooms looked like. You would have to visit the property to find out. These days, however, you can use virtual tours and photo galleries to preview nearly every corner of a house. If it doesn't match your needs, you don't waste your time with a visit. Now that's using technology to your advantage!

3. Use Your Local Newspaper's Website

Most city newspapers have an online version of their news as well. For example, here in Austin, Texas, I can visit the Austin-American Statesman website to get information about the local real estate market, homes for sale, new subdivisions being built and more. Sure, the Sunday paper has a lot of this information. But why wait until Sunday?

4. Read Local Real Estate Blogs

Many real estate agents and companies have begun to use blogs as a way of publishing information online. A blog is like a website, only the information is presented in chronological format like a daily journal. Many agents use their blogs to publish updates about the local market, new homes they have listed and more. An agent's blog is almost always more up-to-date than the main website. So they can be a good source for timely real estate info in your area. You can find them by doing a Google search for your city name plus "real estate blogs."

5. Use Your Email Network

Do you know a lot of people who live in the area where you want to buy? Friends, family and coworkers perhaps? If so, send them an email to let them know you're looking for a home in the area. If they see homes for sale in that area, they can email you about them. Essentially, you are creating your own house-hunting "army" to help you stay on top of things.

This can be especially useful in a hot market where homes sell fast. For example, imagine the following scenario:

Jane knows that her friend Sally is looking for a nice one-story home in the Shady Lane area. On her way to work one morning, Jane passes a "for sale" sign in front of a nice one-story home in that area. She pulls over to the curb, snaps a picture with her camera phone, and sends it to Sally. In turn, Sally emails it to her real estate agent who meets her there at lunchtime to view the property. This is a prime example of how technology can help you stay ahead of the curve when shopping for a home.

About the Author: Brandon Cornett is a consumer advocate and publisher of the Home Buying Institute. Please visit the author's website at www.CornettCommunications.com to learn more or to contact him.

FREEDOM FROM FINANCING FEAR!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 26 Mar 2009 14:56:53 -0700

If you're planning the purchase of your first home, you're probably experiencing two conflicting emotions - excitement and apprehension. The positive energy from your excitement is an asset in your home search, but the negative energy from your fear of the unknown is a liability you can leave behind once you're armed with some basic information.

Paramount to buying your first home is understanding how much you can afford. You can start with any number of online financial calculators, and once you've established a budgetary picture, take the all-important next step - loan pre-qualification.

Pre-qualification may sound intimidating, but it's a great way to find your "comfort zone" and build your purchasing confidence. When a lender interviews you and reviews your financial documentation, you'll know right now how much home you can afford.

With that magic number, you can easily weed out homes above your budget, which will save you loads of time (and disappointment) during your home search. Then once you've found a home you love, you can rest assured that your offer will be taken very seriously, because your financing has already been conditionally backed by your lender.

If you are planning to sell or buy a home soon and would like information on its current vale, give me a call at 303-886-5991 or visit my web site at www.theedgegroup.net

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

A BALANCING ACT!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 26 Mar 2009 14:51:54 -0700

"Buyers market." "Sellers market." What does it all mean when you find yourself ready to buy or sell a home?

The basic concept behind a "buyers market" is that there are more houses or residential properties for sale in your community than there are buyers qualified to make a purchase. This creates increased competition among the sellers for those fewer buyers, and can put the buyers in the "driver's seat" when it comes to negotiation.

It logically follows that a "sellers market" happens when there are more prospective buyers than there are homes for sale. Now it is the buyers who must compete against each other for available properties, often to the benefit of those who are selling.

Regardless of market conditions, many people don't have much choice when it comes to when they want or need to buy or sell a home. Life dictates these decisions for us. Either way, consult a professional for advice in order to get the most benefit from your real estate experience.

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

COMPLETELY REMODELED CHARMING HOME IN CENTRAL LOCATION!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Thu, 26 Mar 2009 14:47:36 -0700

2 Bed, 1 Bath,

NEWER SIDING, KITCHEN, , BATH AND PAINT. VERY NICE LARGE MANICURED BACK YARD-GREAT SMALL HOME AT A GREAT PRICE! EXCELLENT CONDITION! NO HOA'S!

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

THE QUICK AND THE DEAD!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Fri, 13 Mar 2009 14:47:51 -0700

When you start planning to put your home on the market, it's time to show off! Try to imagine that your in-laws are coming for an extended visit, and then triple the effort you would put into preparing for their arrival. Sellers are competing for offers, and it all starts at your front door - literally.

Impress potential buyers at first sight with a well-tended lawn and entryway. When they walk through the door, make sure they do not sense any clutter. You've got to pack it up sooner or later, so take the opportunity to do it now, before another agent or buyer steps into your home. An abundance of personal items like photos and children's "refrigerator art" can interfere with a buyer's ability to picture the home as their own.

Next, if it should shine, make it so! Polish doorknobs, handrails, and lighting fixtures, anything that can add a little sparkle and show your pride of ownership. This includes windows (and screens), which should let in plenty of light for the show.

First impressions really do count when it comes to presenting your home. Accentuate its features and eliminate distractions such as personal items or unpleasant odors. An uncluttered, well kept home will attract buyers, and a little time and care can make the difference between a quick sale and a languishing listing.

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

A TRULY SECURE TRANSACTION!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Fri, 13 Mar 2009 14:40:18 -0700

If there were a health issue in your family, you would turn to your doctor with questions. Likewise, you would consult an attorney if you were facing a legal problem. Chances are, however, that you would first go online to any number of medical or legal websites to familiarize yourself with the issues and get enough information to begin an informed discussion with the professional.

Those websites won't illustrate how to perform surgery, or advise you how to conduct your case in court. That's up to the professional. The Internet plays a similar role in real estate. It's a place to discover information, but it doesn't replace the trust and service provided by an accomplished representative.

Nearly three-quarters of buyers these days use the Internet to begin their home search, and most of them eventually seek the assistance of a living real estate agent to consummate their purchase. They're not about to take a virtual tour of 264 Elmwood Drive, add it to their "shopping cart," and proceed to "secure checkout" to complete the sale.

Buying a home is not the same as buying airline tickets or DVDs. Real estate agents provide essential services to both buyers and sellers, marketing properties as unique as their owners. Don't short change yourself on the biggest transaction of your life. Seek the representation of a knowledgeable and experienced professional.

TWO SIDES OF THE SAME COIN!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Fri, 13 Mar 2009 14:34:59 -0700

How would you place a value on your home? More critically, how would you put a price on your home? Sounds like the same question, but it suggests the difference between price and value that's important to understand as you prepare to sell your home.

Two homes may have identical features and prices, but factors like location and condition can impact the homes' perceived value. To arrive at an attractive asking price, you must compare your home's value against its competition, which is easily done through realty websites and advertisements.

Your goal is to set the right price right away. Your best window for a full price offer will come within the first three weeks, so if you don't see any activity in that timeframe, take action. In changing markets, pricing a home becomes an ongoing activity. You need to consider real estate dynamics - new listings, recent transactions, expired listings, shifts in inventory, and so on.

Your best source of information and guidance is your neighborhood real estate agent, whose vocation it is to monitor all those conditions and bring buyers and sellers to the table for a satisfying transaction. Meet with your representative to discuss your motivation and timetable, compare your home's value against the competition, and analyze current trends in this market. The relationship between price and value will become crystal clear!

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

VACANT HOME OR “OPEN HOUSE”?

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 10 Mar 2009 15:01:08 -0700

If you move out of your home while it's on the market, you'll expect your real estate agent to handle showings in your absence. But how do you avoid the unwanted attention that a vacant home can attract from uninvited intruders?

There are many suggestions to offer to increase your security. While your agent likely won't have the time available to constantly monitor your home, you do have the option of registering with the local police department, so that officers assigned to your neighborhood can keep an eye on your home and perform security checks as needed (generally at no charge).

If you have a security system already installed, be sure to notify your service that the house is empty, and provide an emergency contact number. Also employ a caretaker for the grounds, to keep the yard clean and maintained for a more lived-in look. Stop your newspaper deliveries and make sure your mail is being forwarded to your new address before your big moving day.

Don't leave anything valuable behind, and be sure to program all of the lights on timers, inside and out. An overlooked issue, however, is to not leave the lights on all night, as that is actually an obvious clue that no one is home.

Some simple planning now can save you untold worry and stress later. Enjoy your move!

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

YOU’RE NOT ALONE!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 10 Mar 2009 14:55:57 -0700

Foreclosure. The very term strikes fear into the heart of any homeowner. Would you believe that two in every 100 homes in the U.S. were in the process of foreclosure at the end of 2008? If you're facing such circumstances, first understand that you are not alone.

Most people got into this position by taking advantage of ridiculously low introductory rates on adjustable rate mortgages (ARMs). Now that those loans are resetting, consumers face dramatic increases in the interest rate, and consequently, the monthly payment. Even a reasonable rate like 7% becomes a burden to those who have grown accustomed to the 1 or 2 percent introductory rates.

Ideally, a short sale coordinated by a real estate professional provides the opportunity to satisfy all the motivated parties - seller, buyer, and lender. The seller wins by liquidating the property before foreclosure proceedings begin. The buyer benefits by securing property at a good value. Finally, the lender benefits by not having to initiate the foreclosure or take the property back.

A real estate agent may even have suggestions to help keep you in your home. Granted, it isn't a sale, but agents appreciate the subtleties of building good relationships with loyal clients who will refer business to them in the future. Trust a professional to guide you through this difficult time with experience, courtesy and respect.

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

RUBBING ELBOWS!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 10 Mar 2009 14:49:51 -0700

At some point in your life you're likely to find yourself either buying or selling a home. When that time comes, you might want to ask yourself some questions.

Can I figure like an accountant? Can I measure like a surveyor? Do I understand "legalese" like an attorney? Can I spot defects like an inspector? Can I speak like an auctioneer? Do I understand zoning, building codes and taxes like a city or county employee? Do I understand human motivation like a psychologist?

Chances are you'll be hard pressed to answer all those questions with a "Yes," unless you're a real estate professional. Why, you ask, would an agent be different? It has to do with "rubbing elbows."

The daily routine of an active, highly committed real estate broker or agent is an exhausting one. During any 24 hour period, such a professional will likely have contact with loan officers, lawyers, tax collectors, land surveyors, insurance company representatives, mortgage lending officers, accountants, auctioneers, courthouse personnel, local businessmen and - most importantly - buyers and sellers.

Working at least six days a week, can you imagine how many individual contacts would be made in a year's time? Such an active individual can mean the difference between winning or losing at real estate. After all, it's who you know, and now you know the benefits of representation.

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

DON’T OVERDO IT!

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 10 Mar 2009 14:45:55 -0700

Homeowners who are preparing to sell realize there's quite a bit of competition out there. While presenting your home in model condition is one of the best ways to win the attention of potential buyers, be careful to avoid the pitfalls of improvements that may not produce the full-price offer you are seeking.

First and foremost, do not try to out-do the other homes on the block. Yes, you want your home to stand out, but not so far out that your asking price will have to be significantly higher than those of the homes around you. You'll price yourself out of your own neighborhood while waiting and waiting for those offers.

Second, "if ain't broke, don't fix it!" Don't waste your time and money on improvements that may not pay off. You can't know for sure if buyers will respond positively to your idea of "improvement." Why put in $3,000 worth of new carpeting when your buyers might want hard wood floors? Just stick to the basics.

Speaking of basics, the most important rule to follow is that of regular upkeep on your home. Keep your gutters cleared, apply fresh paint to the exterior, and trim your yard. Buyers have plenty of imagination, and if you just present them with a clean and functional canvas, they'll easily envision the home of their dreams.

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991

Inspirational Quotes

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 03 Mar 2009 16:46:38 -0800

Try not to become a man of success but a man of value.
Albert Einstein

If you have built castles in the air, your work need not be lost; that is where they should be.
Now put foundations under them.
Henry David Thoreau

Inspiration and genius--one and the same.
Victor Hugo

To find what you seek in the road of life,
the best proverb of all is that which says:
"Leave no stone unturned."
Edward Bulwer Lytton

Do we not all agree to call rapid thought and noble impulse by the name of inspiration?
George Eliot

If you can imagine it, you can achieve it; if you can dream it, you can become it.
William Arthur Ward

If you would create something,
you must be something.
Johann Wolfgang von Goethe

Every artist was first an amateur.
Ralph Waldo Emerson

No great man ever complains of want of opportunities.
Ralph Waldo Emerson

Men do less than they ought,
unless they do all they can.
Thomas Carlyle

Let thy words be few.
Ecclesiastes 5:2 from Words of Wisdom

Happy are those who dream dreams and are ready to pay the price to make them come true.
Leon J. Suenes

The power of imagination makes us infinite.
John Muir

First say to yourself what you would be;
and then do what you have to do.
Epictetus

Quit freaking out over the DOW

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 03 Mar 2009 15:32:19 -0800

Recently I looked at A Sampled History of The Dow Jones Industrial Average
From 1900 to The Present. Then I went around asking friends, coworkers and clients what they thought the DOW was at in 1990. I received various answers 8000, 6000, 7200 etc but it was fun to look at their face when I told then that a little less than 20 years ago the DOW was only at 2633 (December 31,1990). Most of them look bewildered and confused. At that point I told them from Jan 2, 1900 to December 31, 1990, 90 years the DOW only went up 2565 an average of 28 points per year.

From Dec 31,1990 to Dec 31, 2007 the DOW went from 2633 to 13264 up 10631 points and an average of 625 points a year.

Gee anyone think it the DOW might have been extremely overinflated?

Check out this link for A Sampled History of The Dow Jones Industrial Average
From 1900 to The Present.

http://www.nyse.tv/dow-jones-industrial-average-history-djia.htm

Paul Gruber CRS, e-Pro, REALTOR
Broker/ SR Partner
Metro Brokers - The Edge Group, Inc.
paul@theedgegroup.net
www.theedgegroup.net
7400 W Jefferson Ave
Lakewood, CO 80235
303-886-5991

"Oh by the way, if you know of a friend or family member who is looking to
buy or sell real estate, would you please call or email me their name &
number? We are never too busy for your referrals, as the foundation of our
success is based on referrals from family & friends!"

Good News with CHFA

Paul Gruber CRS, e-PRO (The Edge Group Inc) — Tue, 03 Mar 2009 14:58:37 -0800

Take a look at what one of my lenders sent me:

CHFA has made some big changes to their down payment assistance program as outlined below. The changes were effective yesterday and should help a lot of home buyers. I've also attached the February Market in Review at the bottom. If you have questions about any type of loan (or down payment assistance), including, but not limited to: FHA, VA, conventional, CDMP- 5.125% today (97% with NO mtg. insurance & NO title seasoning), renovation, or jumbo, please don't hesitate to contact me. I have the knowledge and want to be your resource. Thank you, and please let me know what I can do to assist you.

Colorado Housing and Finance Authority down payment assistance

Available for first time AND non-first time homebuyers
Borrower minimum financial contribution is $1,000 & no cash back at closing
Only need one year of tax returns now instead of three
Income limits for Denver Metro: 1 person- $71,800, 2 person- $82,500, 3+ person- $93,300
Minimum credit score- 580
45% maximum debt to income ratio when manually underwritten- so if we get an automated approval we can go higher
Rates will be posted daily at 9:30 am MST- rate today for a 30 day lock is 5.625% & a 60 day lock is at 5.75%
Non traditional credit acceptable
Owner occupied only; may not own other properties
Interest rate on the 2nd will be the same as it is on the 1st mtg
Payment for 2nd will be amoritized over 30 years- this will make the payment very minimal

Finally some good news. If you need her contact info please email me

Paul Gruber CRS, e-Pro, REALTOR

Broker/ SR Partner

Metro Brokers - The Edge Group, Inc.

paul@theedgegroup.net

www.theedgegroup.net

7400 W Jefferson Ave

Lakewood, CO 80235

303-886-5991