Joan's Blog

Security for your Home

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 07 Dec 2009 11:50:32 -0600

Recently the Aurora Board of Realtors had the Police Chief come in and talk with the Realtors & Affliates to discuss some different security issues they have been facing. Most of the normal issues were brought up. Always watch to make sure no one is following you home - there were rapes that way, and MOST were on the phone, and not paying attention. These instances are sitting ducks.

One issue that I had not thought of --- clean the keypad to your garage door! After using for a while, the numbers you constantly use are very noticeable, and with a few tries, a would-be burglar can have access to your security code!

Just a little tidbit, but a good one!

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - House to Home, Inc.

720-231-6373

www.JoanCox.com

Joan@JoanCox.com

CAR State Convention

Joan Cox (Metro Brokers - House to Home, Inc.) — Tue, 20 Oct 2009 14:15:38 -0500

Just a reminder to those of us that have been in the business a while, and forget there is new technology out all the time we NEED to stay on top of daily/weekly! Just attending your State Convention, allowing you to absorb all the new social media ways to stay in contact with your sphere, and other agents across the country.

There are several you could participate with, but probably just a few will actually be ones you actually have time to do a great job. Active Rain and Linkedin are two in which, if you do relocation --- a GREAT way to connect with other agents, gain respect and friendship, and pass referrals back and forth. Sometimes you actually get to MEET them also.

Make it a point once a week to get into a social media arena that will fit YOUR personality and ability. If you don't know, ask your rep from your title company, there sure is a person that can direct you in the right direction!

Joan Cox, GRI,ABR,CRS-ePro

Metro Brokers - House to Home, Inc.

Denver, CO 80237

www.JoanCox.com

Condos in Arrears

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 14 Sep 2009 16:08:11 -0500

As if we have not had enough bad news for the condos and townhome communities --- if the HOA is 15% or more in arrears (homeowners not paying their HOA fee), new buyers will not be able to obtain a new loan until the arrearages are under 15%!

If you have thought about listing your condo or townhome, please check with your HOA to make sure your HOA is up-to-date, and not aware a few days before a scheduled closing. This could save ALOT of heart ache well before!

Joan Cox, GRI, ABR, CRS, e-Pro

MB/House to Home, Inc.

Denver, CO 80237

720-231-6373

www.JoanCox.com

Denver's Housing Inventory

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 03 Aug 2009 08:51:48 -0500

Just heads up --- if you are in a price range of under $200,000 - be prepared to have patience with this process! With all the first time home buyers jumping into this current market, this price range's inventory has diminished.

There are many bank owned and short sales in this price range, both of which NEED patience! HUD properties are typically selling for $20-30,000 more than listing price. If you are an FHA buyer, unless you have extra dollars to bring to closing, you cannot offer more than list price. There is an FHA appraisal completed on the property. These offers are coming in with conventional loans, and new appraisals are done.

If you have a lease that will expire soon, you probably will need to check into a month to month option. The last buyer I was assisting under $150,000, took 6 offers and 4 months to get closed. He is happy in his new house today!

ARE YOU STILL WAITING FOR THE MARKET TO COME DOWN?

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

720-231-6373

www.JoanCox.com

CNN Money - Best Places to Live

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 13 Jul 2009 11:30:24 -0500

Way Kewl ---

Louisville, Colorado was #1 on this list - and Superior, located just minutes from Louisville, was ranked #13! Denver's climate, once again, got very high rankings! With 300 days of sunshine, economic future of Denver definitely on the upturn, and the great outdoors activities families can enjoy many days per week.

If you read this, and want to know more about the Denver Metro area, please call me!

Joan Cox, GRI,CRS,ABR,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Best Places To Live - Louisville, CO

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 13 Jul 2009 11:26:09 -0500

Wow, we made the national news again for our way of life here in the Denver Metro area - especially LOUISVILLE! CNN Money announced today, Louisville topped the list of 100 for Best Places to live.

Population of 18,800 and unemployment at 6%, Louisville is nestled along the Rockies with ice cream shops plentiful in this historical town. You can snag a burger at the Waterloo Cafe, there could be a Friday night street fair, beer gardens, live music and games for the kids to name a few things to do in Louisville. The TOP reason give this town the thumbs up --- The Great Outdoors! Louisville has 30 miles of trails, and the Rocky Mountain National Park is less than an hour away, 8 world-class ski resorts within two hours. The school district is highly rated as well. Along with dry, clear weather, little crime, good health care and low taxes, Louisville is a tough one to beat!

The economic future of this town has weathered, and industries are robust, such has high tech, energy and health care. This makes the county's unemployment amoung the lowest in the state.

The City of Superior (within minutes of Louisville) ranked #13 on this list of Best Places To Live.

Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point Real Estate, Inc.
720-231-6373
http://www.joancox.com

Denver Market News

Joan Cox (Metro Brokers - House to Home, Inc.) — Sun, 28 Jun 2009 22:41:38 -0500

Colorado again makes news - #1 rebound city, now published in Forbes.com. Our homes closed each month increases, mostly due to our first time home buyers making a move with the $8000 tax credit promised after closing! 40% of sales in Denver are all first time home buyers!

State of Colorado's population has grown from 4.8 million in July 2007 to 4.9 million today. The preception of our economy, along with the weather (minus the tornadoes) and good place to raise children has been publicized all over the US.

If you are a first time home buyer with credit to be able to get into a home today --- WHAT ARE YOU WAITING FOR! There is $8000 waiting for YOU! This tax credit states you have to close by 12/1/09, which means somewhere mid October COULD be your last days.....

Joan Cox

Metro Brokers - Turning Point RE

Centennial, CO 80111

cell: 720-231-6373

www.JoanCox.com

Denver --- The #1 Rebound City of the US

Joan Cox (Metro Brokers - House to Home, Inc.) — Tue, 26 May 2009 11:06:12 -0500

Denver made the list! On The Today Show 5/19/09, the real estate professional, Barbara Corcoran announced Denver was the NUMBER ONE City in the United States for rebounding in this housing crisis! What fabulous advertising for our beautiful City!

The weather, the economy and now the housing is ALL good news -- we are moving forward here in Denver! We still have short sales and foreclosures, but they are decreasing daily. There are neighborhoods actually showing value increases within the Denver Metro area. The days on market have decreased, and are actually getting some multiple offers once again.

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

First time Homebuyer Tax Credit

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 30 Apr 2009 11:35:17 -0500

Scam artists at it again! We as professionals in the business need to advice our first time hombuyers NOT to be tempted by any of this new stuff out on the web! Scam artists now professing they can get double and triple the $8000 and much faster, just need to send in a deposit...... homebuyer BEWARE!

When in doubt, check with your local tax preparer, and know ONLY the government rebates this $8000 tax credit, no other entity or company.

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point RE

720-231-6373

Denver Housing Stats

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 13 Apr 2009 10:37:00 -0500

February and March 2009 looked very promising for our housing market in Denver! Sales were up in February and March 29%. The median price has increased 6.6% to $232,395. Average days on market for condos has decreased to 106 days, down 2.75% over a year ago. The condo sales for 2009 has boomed - primarily due to the $8000 tax credit paid to first time homebuyers. Metrolist has announced our inventory is very low in the $100,000-$200,000 market.

Good news for Denver's housing market!

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Denver - The Relocation City

Joan Cox (Metro Brokers - House to Home, Inc.) — Wed, 01 Apr 2009 08:39:57 -0500

It was just printed in Forbes, Denver enjoyed a population growth from relocation families choosing Denver as their new home. In 2008, Denver experienced a 2.17% increase in population, where many other cities across the country experienced little to no population growth.

In PEW it listed Denver as the Number One City of choice if families had an opportunity to move. Our skiing, culture, vibrant nightlife, business opportunities and of course our weather brought many families to Denver.

With over 300+ days of sunshine each year, gives a great lifestyle for outdoor activities all year long!

Joan Cox, GRI,CRS,ABR,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

You've GOT to hear this!

Joan Cox (Metro Brokers - House to Home, Inc.) — Tue, 24 Mar 2009 14:26:50 -0500

We work in this industry day in and day out. We hear the good, the bad and the simply ugly. THIS has to take the cake!

I have a short sale townhome for sale (great condition), and had a newsletter go out to 450 homes. Got a call from this lady ---" I was inquiring about your listing. My daughter and granddaughter need a place to live, and I think this is perfect! My daughter has terminal brain cancer, and in her final stages, and was hoping to get her into her own place before her life ends. (at this point, I asked if she had been pre-qualified by a lender) Well, no, she cannot hold a job at this stage of her life. (Well, lending has really tightened up - could you co-sign or help with downpayment?) Well, since the government is giving away money, just thought I could get a house for her! After all, she IS terminal.

I wrote to my Senator, and SO want the government to hear this! Unbelievable! This is what our general public is thinking the government is doing, just giving money away! WOW!

First time in a LONG time, I was at a loss for words!

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point RE, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Buyers Still in Denail

Joan Cox (Metro Brokers - House to Home, Inc.) — Sun, 22 Mar 2009 22:01:51 -0500

Our market here in Denver is coming right along! It is better today, than the last three years! Our days on market have decreased, showing value increases in many areas in Metro Denver, and very nice to see! The last three years have been very challenging!

Note to future buyers - in Denver, if you WANT the house, you really need to pay for that house! Do not let a couple thousand sound easy to forget, and you lose the house of your dreams! The bottom of the market has passed here in Denver - and time to step up to the plate, and know you have to BID on the property. Someone can bid more!

It just happened to my buyers, and they still are very sad!

Joan Cox

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

CHFA Home Loans

Joan Cox (Metro Brokers - House to Home, Inc.) — Sat, 14 Mar 2009 14:02:44 -0500

Denver based CHFA (Colorado Housing and Finance Authority) has announced a couple new programs to assist homebuyer struggling in this recession. HomeOpener and HomeOpener Plus mortgages are now available to first time homebuyers and homeowner who have purchase at least one home already. This loan will be a 30 year fixed rate loan that will include down-payment and closing costs assistance, and will require the borrower to attend a homebuyer education course at the authority. GREAT news for first time homebuyers still needing assistance with funds to get into the housing market!

Joan Cox, GRI,ABR,CRS,e-Pro

Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Rocky Mountain News - Denver

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 12 Mar 2009 10:52:49 -0500

The days of "two newspapers" in Denver are over! The Rocky Mountain News closed their doors earlier this week, and are now left with just The Denver Post! This is a sign of our future, paperless, and just internet news! With advertising fees to real estate professionals costing nearly $100 per ad, it is MUCH better to advertise on your web site, or many other web sites that don't charge for listings! With the real estate markets a little slower, and sales coming in slower, this cost of advertising in newspapers, housing magazines, could very well be a sign of advertising for the future!

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Mortgage Application Increase

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 12 Mar 2009 10:49:08 -0500

What good news! Mortgage applications have increased 11%, due to the number of first time homebuyers actually jumping into the housing market! This HOPEFULLY will help our multiple family home dwellers, to move-up into the next price range, and will continue this trend upward. Our $500K homes are sitting longer, due to this move up trend not moving as fast as we need! THANKS to President Obama for giving our first time homebuyers a tax credit to entice them to FINALLY get off the fence and start their real estate portfolio.

Good news on the horizon!

Joan Cox, GRI,ABR,CRS,e-Pro

Metro Brokers - Turning Point Real Estate, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Tax Credit

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 02 Mar 2009 11:36:56 -0600

Wow, our real estate market should start moving! With the tax CREDIT being offered up to $8,000 or 10% of the value of the home, going back to the tax payer --- this should stimulate our economy! The interest rates are still very low, and with this bonus, we should get those first time homebuyers off the fence, and start moving our buyers up into the mid range and have our homes moving again!

With the higher loan amounts not qualifying for the HIGH jumbo rates, and keeping them within range, is also helping get those buyers into $500,000+ homes without much pain! Buying energy efficient products including furnaces, windows and insulation will add benefit also!

Joan Cox

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Rents in Denver - Vacancy Rates

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 23 Feb 2009 09:22:35 -0600

According to the Denver Business Journal, rent vacancies for 4th Quarter 2008 were at 8%, this is up from 4th Quarter 2007 at 6.6% Generally when you see this percentage increase, rents are expected to decrease. This is not the case currently for Denver! With all the new construction for apartment complex rates for renters has increased.

Good news for those investors!

Joan Cox

Metro Brokers - Turning Point RE, Inc.

Centennial, CO 80111

www.JoanCox.com

Stimulus Info

Joan Cox (Metro Brokers - House to Home, Inc.) — Mon, 23 Feb 2009 09:10:06 -0600

The stimulus bill is now signed, and we shall see how it unfolds and affects/helps our current housing market. According to written reports, it should allow homeowners to refinance if they have 20% or less equity, or if they are upside down in value. Also, if they are at risk of losing their homes, they will be able to complete a loan modification to reduce payments for a short timeframe and allow them to remain in their homes. If the homeowner has prepayment penalities or balloon payments, these will be allowed, and credit scores will be factored in for the refinance.

Fannie Mae and Freddie Mac are both getting tougher with the financing requirements. New guidelines indicate that borrowers will need 25% down payments or they will be charged 3/4% point add-on penalty, no matter how high their credit score. Wow, going from 125% loans, to no-down and interest only --- to 25% down! Let's hope this helps our housing market across the country!

Joan Cox

Metro Brokers - Turning Point RE, Inc.

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Home Improvements

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 12 Feb 2009 11:09:10 -0600

So, you have decided not to jump into this real estate market, thinking you will not achieve the price you are hoping for..... how about home improvement! With your Real Estate Professional's assistance, you can do the appropriate improvements to your home, for future value.

Did you know ALMOST all improvements will see approximately 65% value of total dollars spent will be realized. Most improvements are done in the kitchen, baths, and especially the master bath. Currently, replacing old gold fixtures (lights, door handles, etc.) have been replaced with silver/peuter. Replacing old and chipped wood bannisters, and updating kitchens are in high demand. Walk in closets have been built to replace smaller closets, when space is available.

Replacing old and tired flooring is very important. When buyers are searching for homes in today's market, they either want a "move in" property, or one that needs serious work, so they are able to realize THEIR own value.

Joan Cox, GRI, ABR, CRS, e-Pro

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Fix N Flip

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 12 Feb 2009 11:01:23 -0600

Is this the right time to get in? If you have an aspirations to start your real estate portfolio, there is a class Saturday, 2/14/09 (Valentine's Day) at JCAR from 10-12 noon. Address is 950 Wadsworth Blvd., Lakewood, CO 80214 CLASS IS FREE!

This class will be taking a group of investors touring 4-5 homes in the West Denver area to look for a possible fix n flip. The presentor for this class has done up to 33 fix n flips in one year. Don't miss!

Joan Cox

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Fix N Flip

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 12 Feb 2009 10:39:54 -0600

Joan Cox

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

New Marketing Trends

Joan Cox (Metro Brokers - House to Home, Inc.) — Wed, 11 Feb 2009 11:17:48 -0600

This new trend was marketed first, I believe, in California, and now is being launched here in Denver! How about letting your "potential buyers" TRY OUT the home before they put an offer in?

In Observatory Park, a builder and a Realtor are 8 months into marketing this home listed at $1.65 million, and still no buyers. Of course, verification the buyers ARE in the market for this home, pre-approved loan, or cash on hand, etc., but may be a new innovative way to sell those listings that normally would not sell in a slow market. They also have a chef available in house to cook for this "potential buyer's family" to help with their good feelings on purchasing. This could be good marketing tools to jump start some of those listings that don't seem to go away!

Anyone else doing this across the country?

Joan Cox, GRI,CRS,ABR,e-Pro

Metro Brokers - Turning Point RE

Centennial, CO 80111

720-231-6373

www.JoanCox.com

Loan Modification Options

Joan Cox (Metro Brokers - House to Home, Inc.) — Thu, 29 Jan 2009 10:58:22 -0600

Are you facing foreclosure? Did you get laid off, and the payments are too much handle? There are some options you may want to explore before you "give up".

First, call your lenders and ask what options they may have. There is a chance they may drop the interest for a year, to get you on track to keep you in the property. If that doesn't work, try a "short sale", which means selling your home at the market value, which is lower than what you owe the lender. The lender needs to "approve it", and there could be requirements to sign a personal deficiency judgement prior to the bank approving a short sale. This still keeps you from showing a foreclosure on your credit.

Some myths on loan modifications:
1. "The banks want my house." No, they don't. They have piles of properties that could potentially come back to them, and they are not in the business of owning property, just financing them. They make money when you make payments. When payments stop, not only do they NOT make money, they incur legal fees, possible rehabing, and then Realtor fees of selling it, at a loss.

2. "My credit is bad, I cannot qualify" When lenders do loan modification, you do not need to "requalify", they simply change the terms and perhaps reduce the balance of a loan you already have. You don't "close" again, therefore, no qualifying, no closing costs, etc. A successful loan modification will actually improve you credit score over time, allowing a homeowner to make payments, keep current, and stay out of foreclosure.

3. "I haven't missed any payments" Some banks/lenders would rather talk with you BEFORE you get behind in payments. Some do need to wait until you are late on 1 or more payments. Lending regulations have been changing severely in the last few months to work with the current credit/housing issues facing many homeowners today. Your best bet is to call your lending institution at the onset of a layoff, etc. and discuss all options you may have.

4. "I would be better off walking away or filing bankruptcy" Both of these options seriously affect your long term credit. When a foreclosure is on your credit history, banks view that as a serious credit risk down the road. Especially, when you want to buy another home. Again, personal deficient judgements can be filed against you, even if you allow your home to go into foreclosure.

5. "Its too late, already have received foreclosure notice" UNTRUE. Banks/lenders today are delaying this sale date to allow current homeowners to get current, talk about options of reducing interest rates/payments, and would rather KEEP you in the home. Again, short sale options are available also. After the sale date, banks/lenders incur more legal fees, and usually sell at a reduced price at that point.

If you have further questions, please contact me, or I can give you other options available to KEEP you in your property.

Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point RE
Centennial, CO 80111
720-231-6373
www.JoanCox.com

Aurora Foreclosed/Vacant Properties

Joan Cox (Metro Brokers - House to Home, Inc.) — Wed, 28 Jan 2009 08:58:48 -0600

Aurora City Council passed a measure Monday, January 26th, forcing banks and lenders to maintain foreclosed and abandoned properties in Aurora or face fines. With the many vacant and abandoned properties throughout the City, something was needed to be done to maintain these neighborhoods.

Aurora has experienced an abundance of foreclosures in 2008, and is expected to grow.

With this new measure, banks/lenders are required to complete a monthly inspection list to ensure these new codes and standards are adhered. It is expected for banks/lenders to register vacant or abandoned properties with City of Aurora, and failure to do so could result in a fine of $200 per property.

With this new measure, could result in banks needing to access properties while tenants still living in a property, which will increase their legal and financial exposure. This should help these properties from looking vacant/abandoned, therefore reducing the likdlihood of criminal activity in these neighborhoods.

Joan Cox, GRI, ABR, CRS, e-Pro
Metro Brokers - Turning Point RE
Centennial, CO 80111
720-231-6373
www.JoanCox.com