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montrose colorado: Yes, it is 2005 - 05/05/08 11:02 AM
or at least the prices of homes are at 2005 levels.....
Just this weekend I was driving past a few of the Real Estate offices and saw a home posted on one of the signs out from for a rather nice place in a nice subdivison for exactly what a home just like it on, in the same subdivison sold for in 2005. How can I be so confident about the price levels, I sold one inthe same subdivison and yes for that price.
I felt like Mr. Peabody and the wayback machine (yes, I know I am showing my age)
The thing … (6 comments)
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montrose colorado: FHA is NOT the "NEW SUB PRIME"....... or Loan Officers KNOW your guidelines - 04/30/08 07:33 PM
BUT JOE!!!!! that is what the media and EVERYONE claims that it is.... what do you mean it isn't!!!!
Just that my friends FHA is not a replacement for "SUB PRIME" loans!!
But alot of loans that were sold as "sub prime" could have been of should have been FHA.....
Ok so what brings on this rant tonight? Well today one of my loan officers received a call from a client and the topic of the conversation is this.....
Mortgage company XYZ called me today and they tell me that I don't need to wait 2 years for my Bankruptcy to be out of … (2 comments)
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montrose colorado: Help Raise FHA limits in your county - 01/25/08 09:41 AM
While we all sit and wait for the boys and girls in Washington to get off their buttocks and get the laws changed you can help get your counties limits raised faster. If you think the limits in your county are low here is what you do.
Gather the sales data for each transaction in the last month (you might need 3 months worth). You need the address,month of sale, sale price and if the home is new construction or not. You do not need paper transactions, distressed sales, foreclosures, lot sales, refinances and mobile homes.List all of this in order from … (1 comments)
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montrose colorado: Highlights of the FHA Modernization Bills - 01/24/08 05:49 PM
This maybe somewhat boring but there is a lot of confusion out there.
HR BILL 1852
Max FHA loan limit set at the lower of (a) 125% of the local area median home price or (b) 175% of the GSE conforming loan limit. Provides additional authority to HUD to raise limits additional $100,000 if market conditions warrant. Floor raised from 48% to 65% of the GSE conforming loan limitLoan term extended to 40 yearsEstablish underwriting standards for "higher risk" borrowers with FICOs below 560Raises the Upfront MIP to 2.25% for standard risk and 3.0 for higher risk and zero downEstablishes lower or zero down programsForeclosure … (3 comments)
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montrose colorado: Still pondering a buyers market............... - 07/20/07 08:28 AM
Even after my post of yesterday
http://activerain.com/blogsview/150747/Pondering-a-buyers-market I am still wondering what are the motivations of the sellers in todays market and what are the Realtors asking and advising in this Buyers Market? So I pulled for stats for little ole Montrose Colorado http://www.visitmontrose.net/profile.htm
Population of 13000 in the city limits and about 30000 in a 10 mile radius. And someone told me over 300 members of the local Realtor Association.
There are 162 homes for sale between 100 and 200K109 homes for sale between 200 and 250K 88 homes for sale between 250 and 300K 50 between 300 and 350K41 between 350 … (1 comments)
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montrose colorado: Pondering a buyers market.................. - 07/19/07 11:05 AM
Yesterday as I was making my rounds and visiting with Realtors, I heard 2 things that got me to pondering and thinking, which we all know is a dangerous past time. First is the amount of cash buyers in the market. No big deal there right, I am not of the opinion that one should pay cash for their home, but everyone has their own theories. The second thing I heard over and over and over is what a crazy BUYERS MARKET this is, as the Realtor was making yet another appointment for a listing presentation. Which is what really spun my … (3 comments)
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Joe Adams
Montrose,
CO
More about me…
Major Mortgage USA/Branch Manager
Address: 1521 Oxbow Dr #125, Montrose, co, 81401
Office Phone: (970) 252-1700
Cell Phone: (970) 209-9802
Email Me
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