alameda hills real estate: Alameda Hills RE Trends - Broker Licensing - 11/30/08 08:28 PM
Colorado Mortgage Broker Licensing
In response to the troubled national real estate market and Colorado’s high volume of home foreclosures, efforts have increased to make higher caliber professionals involved in real estate. Licensing, rules and regulations have become more stringent for agents, appraisers, title companies and mortgage brokers. In … (0 comments)
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alameda hills real estate: Alameda Hills RE Trends: Loan Considerations - 11/30/08 08:25 PM
Loan Considerations for Buy and Hold Investors
As far as investment loans, little or no money down loans are impossible. However, lenders do permit the use of Home Equity Lines of Credit or second mortgages from other properties owned by the borrower as a source of down payment. … (0 comments)
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alameda hills real estate: Alameda Trends Real Estate Trends - Fix & Flip Loans - 11/30/08 08:09 PM
Loan Considerations for Fix & Flip / Short-Term Investors
Securing conventional financing on a fix & flip or short-term loan is not recommended. Most conventional lenders sell off their mortgages to investors on the secondary market. If the loan is paid off early (before six payments are made), … (0 comments)
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alameda hills real estate: Alameda Hills RE Trends - Jumbo Loans - 11/30/08 08:07 PM
Loan Considerations for Jumbo Mortgages
For the Greater Metro Denver area, any loan amount greater than $417,000 is considered a jumbo loan. Fannie Mae and Freddie Mac assign different thresholds for various regions across the country. For instance, $417,000 is not considered a jumbo loan in a high cost … (0 comments)
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alameda hills real estate: Alameda Hills RE Trends - Loan Considerations - 11/30/08 08:05 PM
Loan Considerations for Loan Amounts Between $200K - $417K
With all the doom and gloom publications that are mostly exaggerated, many potential borrowers believe that home mortgage lending options have dried up. While underwriters and investors are scrutinizing files more closely, attractive rates and terms still exist for owner … (0 comments)
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alameda hills real estate: Alameda Hills Real Estate Trends Update - FICO help - 11/30/08 08:04 PM
FHA First-Time Buyer Tax Credit
In an effort to boost the sagging real estate market and overall economy, first-time home buyers are being offered a limited time tax credit when purchasing a primary residence.
The highlights of the tax credit are:
· The tax credit is available for … (0 comments)
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alameda hills real estate: Alameda Hills RE trends - 11/30/08 07:59 PM
Loan considerations for a first time buyer
Lending guidelines are changing on a daily basis for every type of loan: conventional, FHA, VA & commercial. Nevertheless, there are still very attractive first-time home buyer options available. If you are or will be a first-time buyer, it is critical to … (0 comments)
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alameda hills real estate: Alameda Hills Real Estate Trends - cont'd - 11/30/08 07:58 PM
How can you improve your FICO score?
To improve one’s credit score, it’s critical to understand the factors influencing a credit score. The factors that contribute to a FICO score and the weighted percentages for each are as follows:
35% — timeliness of payments
30% — the ratio of used … (0 comments)
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alameda hills real estate: Alameda Hills Real Estate Trends - cont'd - 11/30/08 05:48 PM
How does your FICO score impact your interest rate on your loan?
Low credit scores are deemed greater risk for lenders since the likelihood for defaulting on the loan increases. As such, lower FICO scores translate into higher interest rates. Mortgage lenders will group credit scores in a range, … (0 comments)
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alameda hills real estate: Alameda Hills RE Trends - 11/30/08 05:44 PM
What is a FICO score?
FICO stands for Fair Isaac Corporation, a company that created the most used credit scoring model in the United States. An individual’s credit score is calculated through a statistical algorithm and is used as a factor in determining the likelihood of a borrower defaulting on … (0 comments)
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alameda hills real estate: TOPIC: Improving conditions in Alameda Hill's market - 11/18/08 05:32 PM
There are some signs of strengthening in our Denver market. The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007. Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because their property is not selling, … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 9 - Scrapes, Pops and New Construction - 11/18/08 05:31 PM
This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Alameda Hills area in Denver.
What this investment is: Purchasing a small home in an expensive neighborhood that may or may not need work. The home is bulldozed and a new home or … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 8 - Condo Conversions - 11/18/08 05:30 PM
This blog will discuss a type of real estate investment, fix and flips, in the Alameda Hills area in Denver.
What this investment is: A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 7 - Fix and Flips - 11/18/08 05:11 PM
This blog will discuss a type of real estate investment, fix and flips, in the Alameda Hills area in Denver.
What this investment is: Purchasing a home that needs work. The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 6 - Lease Options - 11/18/08 05:07 PM
This blog will discuss a type of real estate investment, lease options, in the Alameda Hills area in Denver.
What this investment is: A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant. The lease is bundled with an … (0 comments)
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alameda hills real estate: Investing in Real Estate 5 - Large (5+ unit) Apartment Building - 11/18/08 04:59 PM
This blog will discuss a type of real estate investment, large apartment buildings, in the Alameda Hills area in Denver.
What this investment is: Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property. The loans are more difficult to qualify for, … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 4 - Small (2-4 units) Apartment Building - 11/18/08 04:57 PM
This blog will discuss a type of real estate investment, small apartment buildings, in the Alameda Hills area in Denver.
What this investment is: Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms. Usually what the rental home / condo landlords graduate to. … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 3 - Rental Condo or Rental Home - 11/18/08 04:54 PM
This blog will discuss a type of real estate investment, rental condos or rental homes, in the Alameda Hills area in Denver.
What this investment is: Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term. This is how most new landlords get started. … (0 comments)
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alameda hills real estate: Investing in Alameda Hills Real Estate 2 - Assignments - 11/18/08 04:52 PM
This blog will discuss a type of real estate investment, assignments, in the Alameda Hills area in Denver.
What this investment is: An investor who is interested in Assignments gets a property under contract for an attractive price then assigns the contract to another buyer, usually another investor. The first … (0 comments)
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