real estate: Spring in Denver - 04/04/10 01:58 PM
 The Denver real estate market is hot. Spring is officially in the air and homes are selling.  The number of homes for sale have increased by 2,184 since December and the average sold price rose from $260K in January to $270K in February.
In the recent months, I have experienced a demand for homes selling under $250K to be greater than the market can provide. In the last month, I've seen this trend work its way into homes selling for over $250K.   Just last week, while scheduling showings, 4 of the 5 were already under contract. These homes averaged $300K and had been for sale an average of … (0 comments)

real estate: Refinance Program Extended - 03/02/10 12:34 AM
The refinancing program was extended today  
 The Obama administration announced today that borrowers with little or no equity in their homes will have another year to take advantage of a refinancing program.   The Home Affordable Refinance Program was set to expire in June, of this year but will now be extended to June 2011.   
 
Read more information from the Washington Post here:    http://www.washingtonpost.com/wp-dyn/content/article/2010/03/01/AR2010030102143.html?hpid=topnews 
(0 comments)

real estate: The Denver Housing Market is HOT! - 09/16/09 03:19 PM
The Housing Market is Hot!I recently did a presentation to explain what is going on in the local real estate market. My audience was surprised to hear how hot the market is. They expected to hear more about foreclosures and buyers not getting qualified but truth is, that isn't the picture anymore.
 
Data suggests that real-estate prices hit a bottom some time during the second quarter in Denver, and now they are on the rise.  The same is true in other markets across the country. 
 
Check out this story done by ABC (featuring Your Castle's own agent, and my personal friend, Charles Roberts) … (0 comments)

real estate: Denver waiving permits for certain home improvement projects - 05/27/09 11:56 AM
This is great!
Permit fee waived! For a limited time, June1 - 15, 2009, Denver is issuing FREE construction permits to homeowners and licensed contractors making qualified home improvements or repairs to existing one and two family dwellings, which can increase the value of the home. The HOME RENOVATION BONANZA is offered in order to encourage the improvement of existing 1 and 2 family homes, raise property value and encourage homeowners to stay in existing homes. A variety of home improvements are covered by the Home Renovation Bonanza, including: Basic Interior Remodel of existing 1 or 2 Family Dwelling (existing … (0 comments)

real estate: Denver is on the rebound - 05/19/09 11:44 AM
Watch this short video about which housing markets most likely to rebound, fail Real estate expert Barbara Corcoran talks with TODAY’s Natalie Morales about the five cities in America that are may be on the verge of recovery from the housing slump and the three cities with the hardest road ahead of them. http://today.msnbc.msn.com/id/26184891/vp/30825142#30825142 … (0 comments)

real estate: FICO/Credit Score Changes - 03/03/09 04:03 PM
Did you know the following?
There are some important changes to the FICO credit scoring model  that will affect your credit scores! 
The three credit bureaus (Equifax, TransUnion, and Experian) should be implementing the new FICO 08 model sometime around this spring or summer.  They are running late from '08.
Changes to be aware of:
Positive: The new model will ignore small collections under $100. Things such as library fines, parking tickets and those extremely frustrating small medical bills used to appear on credit reports causing incredible damage to scores. With the new model, any of these under $100 will still … (0 comments)

real estate: 6 things you should know about the new first time home buyer’s tax credit - 03/03/09 03:50 PM
1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal, but it's still great.  This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. That means … (0 comments)

real estate: Investor Series: Why sewer scopes are important - 10/26/08 03:40 PM
 A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe and videotape the sewer all the way to the mainline. This will tell you  and the-buyer what the condition of the sewer is.      So let's see, we pay to have the furnace inspected but a new furnace will only be about $2,000. We pay to have … (0 comments)

real estate: Park Hill - A little more evidence we're past bottom of market cycle - 10/26/08 03:38 PM
Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonality)-          DOM dropping-          Stability in average sold prices and sold price as % of list-          Sold price as % original price UP a lot - banks are getting better at pricing-          Number of expired listings down Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as … (0 comments)

real estate: Foreclosures in Metro Denver - 10/23/08 03:20 PM
My agency, Your Castle Real Estate, was just featured in the Denver Post Newspaper with the information below. I have added my comments in parenthesis.
The Denver metro area has been hard-hit by foreclosures, but the reality of the situation is vastly different depending on which neighborhood you live in. (This is true - each neighbhorhood can be very different!)
While numerous reports tell a bleak story of rising foreclosures and flat house prices, an analysis of data from the Multiple Listing Service by Your Castle Real Estate shows some neighborhoods are struggling while others are untouched.
The analysis drills down … (3 comments)

real estate: Investing in Real Estate - 101 - Arvada, Colorado - 10/23/08 02:51 PM
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them.
Please offer comments - positive or negative!
Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though. 
 Rental Condo or Rental Home.  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.  You can … (3 comments)

 
Melanye Phipps (Innovative Real Estate Group)

Melanye Phipps

Arvada, CO

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Innovative Real Estate Group

Address: 2460 W. 26th Ave. #120 C, Denver, CO, 80211

Mobile: (303) 913-5325

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