Thursday, December 29, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - The Golf Club at Bear Dance, Larkspur, CO" at http://ow.ly/8d93e
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - The Golf Club at Bear Dance, Larkspur, CO" at http://ow.ly/8d93e
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - The Golf Club at Bear Dance, Larkspur, CO" at http://ow.ly/8d93e
Yelp Review for the week - The Golf Club at Bear Dance, Larkspur, CO
This week we are going to see Yelp reviews of The Golf Club at Bear Dance, situated at 6630 Bear Dance Road, Larkspur, CO 80118. Consistently rated as Colorado's best, and most challenging public golf course, Bear Dance offers generous tree-lined fairways framed by flashing white sand bunkers, striking water features, and intricate greens. Enjoy being surrounded by the mountainous beauty of Ponderosa pine, oak-lined ridges and draws, and native grass valleys.
Few of the top reviews are given below:
G V. from Colorado Springs, CO says, "Great course. Very challenging. Great time of year to play. Little wind, grass is still green, air is cool and fall colors are popping all around. Greens are quick and very true (although some are a bit rough this year). Driving range is great, balls included. Practice area is nice. Use the practice green to gauge your speed. DONT play the tips if you are over a 5 hdcp....you'll not enjoy it and you WILL slow down play. GPS seem pretty accurate and if you are not from altitude, take into consideration the ball flies quite a bit further. If your lucky the surrounding mountains will have some snow caps. Seen fox, turkey and some small critters out here but never the bear. I heard the bear is with two cubs between 17 green and 18 tee mostly. Watch out."
Christine from Denver, CO says, "This might be one of the most beautiful courses in Colorado - and that's saying a lot! The course is interesting and challenging with a number of fairly tight fairways. They say it 7726 yards, but most of the professional tees seemed to be missing. So, it may be a bit shorter than that. There are only a few houses on the course which is such a treat. This scenery need no homes to spoil to it! They have a nice practice facility and club house. If I have friends visiting from out of state, this is the course I would take them to. It is a great course that is quintessential Colorado."
Few of the top reviews are given below:
G V. from Colorado Springs, CO says, "Great course. Very challenging. Great time of year to play. Little wind, grass is still green, air is cool and fall colors are popping all around. Greens are quick and very true (although some are a bit rough this year). Driving range is great, balls included. Practice area is nice. Use the practice green to gauge your speed. DONT play the tips if you are over a 5 hdcp....you'll not enjoy it and you WILL slow down play. GPS seem pretty accurate and if you are not from altitude, take into consideration the ball flies quite a bit further. If your lucky the surrounding mountains will have some snow caps. Seen fox, turkey and some small critters out here but never the bear. I heard the bear is with two cubs between 17 green and 18 tee mostly. Watch out."
Christine from Denver, CO says, "This might be one of the most beautiful courses in Colorado - and that's saying a lot! The course is interesting and challenging with a number of fairly tight fairways. They say it 7726 yards, but most of the professional tees seemed to be missing. So, it may be a bit shorter than that. There are only a few houses on the course which is such a treat. This scenery need no homes to spoil to it! They have a nice practice facility and club house. If I have friends visiting from out of state, this is the course I would take them to. It is a great course that is quintessential Colorado."
Wednesday, December 28, 2011
Read "Paralysis by Analysis: How to c...
Read "Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal" at http://ow.ly/8c4Kv
Read "Paralysis by Analysis: How to c...
Read "Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal" at http://ow.ly/8c4Kv
Read "Paralysis by Analysis: How to c...
Read "Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal" at http://ow.ly/8c4Kv
Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal http://ping.fm/U4ooq
Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal
Last week my neighborhood got about a foot of snow. While running around doing last minute Christmas shopping, I noticed the wiser, more experienced drivers took a slow steady pace and went forward with a minimum of frustration. Inexperienced drivers tended to spin their wheels and loose traction, causing them to go nowhere or slide off into a ditch. This reminded me of some of the buyers/borrowers I have met over the years.
Paralysis by analysis refers to over-analyzing or over-thinking a situation to the point where a decision is not made. As General George S. Patton observed, "A good plan today beats a perfect plan next week". Thanks to the internet and well meaning, but ill informed friends, I see buyers/borrowers become overwhelmed from information overload. Two examples are:
1. The prospective buyer who wanted to analyze property appreciation by zip code over the next three to five years and maintenance costs broken down by square foot over the same time frame. The client, who was an engineer, was not pleased when I told him I did not have the answer and that I did not believe it was possible to make an accurate projection on a single property. While it would of course be possible to analyze historical trends, as any intelligent person knows, "past performance is not a guarantee of future results".
2. I had one borrower, a very sharp young accountant, who immersed himself in the internet and tried to put his own numbers together. The problem was that he kept comparing apples to oranges, and trying to apply outdated information to the current mortgage industry.
The cure for paralysis by analysis is very easy. Consider the source of the information. If you were referred by a professional or previous client, you are most likely in good hands.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Paralysis by analysis refers to over-analyzing or over-thinking a situation to the point where a decision is not made. As General George S. Patton observed, "A good plan today beats a perfect plan next week". Thanks to the internet and well meaning, but ill informed friends, I see buyers/borrowers become overwhelmed from information overload. Two examples are:
1. The prospective buyer who wanted to analyze property appreciation by zip code over the next three to five years and maintenance costs broken down by square foot over the same time frame. The client, who was an engineer, was not pleased when I told him I did not have the answer and that I did not believe it was possible to make an accurate projection on a single property. While it would of course be possible to analyze historical trends, as any intelligent person knows, "past performance is not a guarantee of future results".
2. I had one borrower, a very sharp young accountant, who immersed himself in the internet and tried to put his own numbers together. The problem was that he kept comparing apples to oranges, and trying to apply outdated information to the current mortgage industry.
The cure for paralysis by analysis is very easy. Consider the source of the information. If you were referred by a professional or previous client, you are most likely in good hands.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Paralysis by Analysis: How to complicate (or kill) your real estate or mortgage deal http://ping.fm/gZWmU
Tuesday, December 27, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Lessons Learned From 2011" at http://ow.ly/8b6Nx
Check out my latest real estate colum...
Check out my latest real estate column titled "Lessons Learned From 2011" at http://ow.ly/8b6Nx
Check out my latest real estate colum...
Check out my latest real estate column titled "Lessons Learned From 2011" at http://ow.ly/8b6Nx
Lessons Learned From 2011. By Dan Polimino.
Here we are at the end of the year. It's always a good time to sit back and reflect on the past year. I also like to make a quick list of the lessons I have learned over the last year in Real Estate. Here are a few of the most notable.
1. I learned that the days are long, but the years are short. I spent a fair amount of time wishing days away in 2011. Then I look back and it seems that the years have just flown by. I am trying not to make that same mistake in 2012.
2. I learned at 43 to listen more and speak less. This one lesson has served me better than anything else.
3. I learned that there is no harm in asking. Just when you think there is no way a buyer or seller will move one more penny...they do. So I tell my clients, "What is the harm in asking since all they can say is 'no'?"
4. I learned that you could have the best data in the world and most convincing argument, and at the end of the day the real estate transaction boils down to one thing. What is a seller willing to sell for and what is a buyer willing to pay?
5. I learned that just when you think you have encountered the most difficult buyer or seller, you are wrong. There is one more difficult just around the corner.
6. I learned that every once in a while, you are given a gift. Like a buyer that calls you up, looks at one property, makes an offer and closes with no conflicts or difficulty. Cherish these transactions.
7. I learned that there is no amount of convincing or sense that you can impart to Banks and Investors. Even when the data is all in your favor, Banks/Investors do not have to sell properties at fair market value because they are flush with cash and have lots of options.
8. I learned to take Sundays off (yes, even in the real estate business) so I can have some type of family life. I recommend this to all of my real estate brethren. I can honestly tell you that by taking Sundays off, my business did not decrease one penny. In fact, it got better.
9. I learned to smile more and laugh more in what is a pressure cooker of a business. If you don't, you'll soon find yourself on ulcer medication.
10. I learned that you have to give something to get something.
Happy New Year
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
1. I learned that the days are long, but the years are short. I spent a fair amount of time wishing days away in 2011. Then I look back and it seems that the years have just flown by. I am trying not to make that same mistake in 2012.
2. I learned at 43 to listen more and speak less. This one lesson has served me better than anything else.
3. I learned that there is no harm in asking. Just when you think there is no way a buyer or seller will move one more penny...they do. So I tell my clients, "What is the harm in asking since all they can say is 'no'?"
4. I learned that you could have the best data in the world and most convincing argument, and at the end of the day the real estate transaction boils down to one thing. What is a seller willing to sell for and what is a buyer willing to pay?
5. I learned that just when you think you have encountered the most difficult buyer or seller, you are wrong. There is one more difficult just around the corner.
6. I learned that every once in a while, you are given a gift. Like a buyer that calls you up, looks at one property, makes an offer and closes with no conflicts or difficulty. Cherish these transactions.
7. I learned that there is no amount of convincing or sense that you can impart to Banks and Investors. Even when the data is all in your favor, Banks/Investors do not have to sell properties at fair market value because they are flush with cash and have lots of options.
8. I learned to take Sundays off (yes, even in the real estate business) so I can have some type of family life. I recommend this to all of my real estate brethren. I can honestly tell you that by taking Sundays off, my business did not decrease one penny. In fact, it got better.
9. I learned to smile more and laugh more in what is a pressure cooker of a business. If you don't, you'll soon find yourself on ulcer medication.
10. I learned that you have to give something to get something.
Happy New Year
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, December 22, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Rocky Mountain National Park, Estes Park, CO" at http://ow.ly/87MZd
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Rocky Mountain National Park, Estes Park, CO" at http://ow.ly/87MZd
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Rocky Mountain National Park, Estes Park, CO" at http://ow.ly/87MZd
Yelp Review for the week - Rocky Mountain National Park, Estes Park, CO
This week we are going to see Yelp reviews of Rocky Mountain National Park, situated at 1000 Hwy 36, Estes Park, CO 80517. This living showcase of the grandeur of the Rocky Mountains, with elevations ranging from 8,000 feet in the wet, grassy valleys to 14,259 feet at the weather-ravaged top of Longs Peak, provides visitors with opportunities for countless breathtaking experiences and adventures.
Few of the top reviews are given below:
Jenna from Astoria, Queens, NY says, "I was totally blown away by Rocky Mountain National Park when I came here during a recent trip to the Denver area. It was quite a drive from the city, but it was so worth it. We started out in Estes Park and checked in with the visitor center, who provided us with maps and directed us to the visitor center for the park itself. It was a short but beautiful drive from Estes Park, and we were greeted by really helpful staff at the Beaver Mountain Visitor Center. Because it was so late in the season, there was limited hiking and trail access, but we were able to drive around the park and check out the sights from some of the pull-off points along the way. The views were incomparable, and I loved walking around near the boulders and waterfalls of the Aluvian Fan. Admission to the park is typically pretty steep, but we came here during a free weekend -- bonus! I can imagine that the hiking here must be absolutely incredible and look forward to returning sometime during the summer or early fall to really get the most out of the experience."
Ted from Denver, CO says, "Beautiful park! Probably third on my list of America's Greatest Idea's, after Yosemite and Yellowstone. Rocky Mountain National Park is just a magical place. I recommend taking old Falls Road up to the pass. Its one way, you can only go up, dirt, (we did see sedans on it) with plenty of places to pull over and check out the stream that the road follows or gaze up at the towering mountains. There are lots of people here but it is a national park, so just be prepared for that. This is of the best places to go if you want to get out in Nature with little to no planning. Just pull into one of the ranger stations and let them know what you would like to see and how strenuous hike you can do and they will give you several options. All of which will be magnificent. If there are a couple of you going make sure to switch who has to drive half way because you really can't appreciate the park AND watch the road."
Few of the top reviews are given below:
Jenna from Astoria, Queens, NY says, "I was totally blown away by Rocky Mountain National Park when I came here during a recent trip to the Denver area. It was quite a drive from the city, but it was so worth it. We started out in Estes Park and checked in with the visitor center, who provided us with maps and directed us to the visitor center for the park itself. It was a short but beautiful drive from Estes Park, and we were greeted by really helpful staff at the Beaver Mountain Visitor Center. Because it was so late in the season, there was limited hiking and trail access, but we were able to drive around the park and check out the sights from some of the pull-off points along the way. The views were incomparable, and I loved walking around near the boulders and waterfalls of the Aluvian Fan. Admission to the park is typically pretty steep, but we came here during a free weekend -- bonus! I can imagine that the hiking here must be absolutely incredible and look forward to returning sometime during the summer or early fall to really get the most out of the experience."
Ted from Denver, CO says, "Beautiful park! Probably third on my list of America's Greatest Idea's, after Yosemite and Yellowstone. Rocky Mountain National Park is just a magical place. I recommend taking old Falls Road up to the pass. Its one way, you can only go up, dirt, (we did see sedans on it) with plenty of places to pull over and check out the stream that the road follows or gaze up at the towering mountains. There are lots of people here but it is a national park, so just be prepared for that. This is of the best places to go if you want to get out in Nature with little to no planning. Just pull into one of the ranger stations and let them know what you would like to see and how strenuous hike you can do and they will give you several options. All of which will be magnificent. If there are a couple of you going make sure to switch who has to drive half way because you really can't appreciate the park AND watch the road."
Tuesday, December 20, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "A Picture of Courage" at http://ow.ly/85aFs
Check out my latest real estate colum...
Check out my latest real estate column titled "A Picture of Courage" at http://ow.ly/85aFs
Check out my latest real estate colum...
Check out my latest real estate column titled "A Picture of Courage" at http://ow.ly/85aFs
A Picture of Courage. By Dan Polimino.
Christmas is tomorrow and as many of you know from reading my columns over the years, this is the one week of the entire calendar that I do not talk about business. Instead, I like to write about stories that truly matter.
On October 8th of this year, our friend Derek Cox passed away after battling brain cancer for 12 years. He was only 37 years old. Jennifer and I met him shortly after he had his first brain surgery to remove a portion of the tumor. Over the years, we would visit each other and monitor his progress. We would rejoice with him every time he received good news that the tumor had shrunk. We took a vacation together to Hawaii and it was the happiest I had ever seen him. He talked about how much he wanted to meet a great girl, get married, and have kids. Unfortunately, he never got that chance.
What he didn't talk about was the constant pain that he was experiencing. Through it all, I never heard him complain once. I never heard him say, "Why me?" I never saw him mad at God, and I never saw him bitter or angry. In fact, he was quite the opposite. He was always happy, encouraging, and grateful. He always had a smile on his face and his faith soared.
We got word that Derek was in hospice care. He was barely able to speak and he couldn't walk. We went to see him in Fort Collins and I had a chance to talk to him alone. He could understand everything I was saying, he just couldn't respond back very well. I told him that I loved him, and that either way, everything was going to be ok. Either God was going to miraculously heal him, or he was going to be in heaven soon. Either way, it would be ok and he would not be in pain anymore. I told him that if he got to heaven before me, to save me a place and then I broke down and began to cry. In true Derek fashion, he reached over and rubbed my leg, trying to console me. Here he was dying, I was alive and well, and he was trying to console me.
What I'll remember this Christmas is a picture of courage, faith, kindness, and a zest for life. That was our friend Derek Cox. He'll be a model for the man I hope to be. Take time this Christmas and love the people close to you.
Merry Christmas.
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
On October 8th of this year, our friend Derek Cox passed away after battling brain cancer for 12 years. He was only 37 years old. Jennifer and I met him shortly after he had his first brain surgery to remove a portion of the tumor. Over the years, we would visit each other and monitor his progress. We would rejoice with him every time he received good news that the tumor had shrunk. We took a vacation together to Hawaii and it was the happiest I had ever seen him. He talked about how much he wanted to meet a great girl, get married, and have kids. Unfortunately, he never got that chance.
What he didn't talk about was the constant pain that he was experiencing. Through it all, I never heard him complain once. I never heard him say, "Why me?" I never saw him mad at God, and I never saw him bitter or angry. In fact, he was quite the opposite. He was always happy, encouraging, and grateful. He always had a smile on his face and his faith soared.
We got word that Derek was in hospice care. He was barely able to speak and he couldn't walk. We went to see him in Fort Collins and I had a chance to talk to him alone. He could understand everything I was saying, he just couldn't respond back very well. I told him that I loved him, and that either way, everything was going to be ok. Either God was going to miraculously heal him, or he was going to be in heaven soon. Either way, it would be ok and he would not be in pain anymore. I told him that if he got to heaven before me, to save me a place and then I broke down and began to cry. In true Derek fashion, he reached over and rubbed my leg, trying to console me. Here he was dying, I was alive and well, and he was trying to console me.
What I'll remember this Christmas is a picture of courage, faith, kindness, and a zest for life. That was our friend Derek Cox. He'll be a model for the man I hope to be. Take time this Christmas and love the people close to you.
Merry Christmas.
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, December 16, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Ooh! Aah! Jewelry, Denver, CO" at http://ow.ly/81z4E
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Ooh! Aah! Jewelry, Denver, CO" at http://ow.ly/81z4E
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Ooh! Aah! Jewelry, Denver, CO" at http://ow.ly/81z4E
Yelp Review for the week - Ooh! Aah! Jewelry, Denver, CO
This week we are going to see Yelp reviews of Ooh! Aah! Jewelry, situated at 4216 Tennyson St., Denver, CO 80212. Ooh! Aah! Jewelry sells contemporary and traditional jewelry designs, handbags, and other gift items. In addition, the stores offer a "frequent shopper" punch card for shoppers with an insatiable appetite for affordable, stylish jewelry. It is a great place to find affordable gifts. Gift wrapping is always free. For the shopper who wants to give a hint for that special gift, there is a "wish" list service.
Few of the top reviews are given below:
Tracie from Denver, CO says, "What a GREAT asset to Tennyson Street - Ooh! Aah! Jewelry has lots of funky to beautiful jewelry in various price ranges. They also carry fun handbags and accessories. Best of all, they will create a wish list for you in their database so that your significant other can come in buy you something you really want. Great selection and very helpful, friendly service. I'm definitely a fan."
Lisa from Denver, CO says, "Love Ooh Ahh! I've been shopping there for over two years now and have built myself quite the collection of beautiful and unique jewelry :) Lauren is fabulous and I love her style. I usually walk in and browse for a little bit and then always end up getting some variation of what she is wearing made! Now this is where my husband shops for most of my gifts :) I also had bridesmaid necklaces and earrings made here, mother's day gifts, you name it. And their sale is a great time to find some steals! And lastly, check out their bags if you stop in. Selection is small, but inexpensive."
Few of the top reviews are given below:
Tracie from Denver, CO says, "What a GREAT asset to Tennyson Street - Ooh! Aah! Jewelry has lots of funky to beautiful jewelry in various price ranges. They also carry fun handbags and accessories. Best of all, they will create a wish list for you in their database so that your significant other can come in buy you something you really want. Great selection and very helpful, friendly service. I'm definitely a fan."
Lisa from Denver, CO says, "Love Ooh Ahh! I've been shopping there for over two years now and have built myself quite the collection of beautiful and unique jewelry :) Lauren is fabulous and I love her style. I usually walk in and browse for a little bit and then always end up getting some variation of what she is wearing made! Now this is where my husband shops for most of my gifts :) I also had bridesmaid necklaces and earrings made here, mother's day gifts, you name it. And their sale is a great time to find some steals! And lastly, check out their bags if you stop in. Selection is small, but inexpensive."
Thursday, December 15, 2011
Read "Just do the math to see if it a...
Read "Just do the math to see if it a real no cost loan" at http://ow.ly/80lDJ
Read "Just do the math to see if it a...
Read "Just do the math to see if it a real no cost loan" at http://ow.ly/80lDJ
Read "Just do the math to see if it a...
Read "Just do the math to see if it a real no cost loan" at http://ow.ly/80lDJ
Just do the math to see if it a real no cost loan
Unfortunately, some of the terms in the mortgage industry are not applied uniformly. My favorite example concerns a mortgage that supposedly has no closing costs. For a true no cost loan, the math is very simple. Take your payoff, add the amount for escrows (such as property and insurance), and the upfront mortgage insurance premium / funding fee, if it apples. This should equal your new loan amount, with appropriate adjustments if you are bringing cash to the closing or receiving cash back. Sometimes the lender may be able to pay the upfront FHA mortgage insurance premium or funding fee for the borrower. Ask your lender about this. If they do not know about this, find a competent lender.
Once again I am encountering lenders who utilize a different definition of a no cost loan that creates a false impression and confuses the borrower. With their definition, the loan costs are added to the loan, but they define it as a no cost loan because the borrower does not have to bring the closing costs to the closing in cash. I feel this is deceptive as the borrower is incurring a cost that will someday have to be paid back. Deferring a cost does not mean it did not happen, only that you will have to pay it back at a later date.
As always, do the numbers to determine what is best for your unique personal situation. If you need help on your mortgage analysis, let me know.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Once again I am encountering lenders who utilize a different definition of a no cost loan that creates a false impression and confuses the borrower. With their definition, the loan costs are added to the loan, but they define it as a no cost loan because the borrower does not have to bring the closing costs to the closing in cash. I feel this is deceptive as the borrower is incurring a cost that will someday have to be paid back. Deferring a cost does not mean it did not happen, only that you will have to pay it back at a later date.
As always, do the numbers to determine what is best for your unique personal situation. If you need help on your mortgage analysis, let me know.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged http://ping.fm/8cbt2
Tuesday, December 13, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Anything Can Be Fixed" at http://ow.ly/7XYpT
Check out my latest real estate colum...
Check out my latest real estate column titled "Anything Can Be Fixed" at http://ow.ly/7XYpT
Check out my latest real estate colum...
Check out my latest real estate column titled "Anything Can Be Fixed" at http://ow.ly/7XYpT
Anything Can Be Fixed. By Dan Polimino.
These days, when I put a buyer under contract with a home, I can almost write up verbatim what the inspection report will say. It seems that there are just a few items that always show up on an inspection report. Here is a partial list of what I see day after day and report after report.
1) Furnace and air conditioning coil needs to be serviced, cleaned and certified. I think every inspector puts this down. Sellers, take note, have your furnace and air conditioning coil cleaned, serviced, and certified before putting the home on the market. It only costs about $300 and it will save you from scaring away the buyer.
2) Roof. It seems that every roof shows some wear and tear. I see inspectors always put the following comments, "Roof is showing some wear and tear. Shingles need replacing and drip edge flashing needs to be added. Recommend that a licensed roof contractor evaluate." They always add the last part as their disclaimer. Inspectors are quick to point out that they are not a professional___________ and you should get an evaluation from a professional__________. This is to cover them from future litigation. Again, note to sellers that it would be a good idea to have your roof looked at for maintenance issues before you put the house on the market.
3) Radon: This is always on top of every buyer's home inspection list. Sellers should know ahead of time if they have a radon mitigation system. If not, you should have the house tested. Buyers from out of state that are not familiar with Colorado's radon problems get easily freaked out about a high radon test. This is easily fixable and should only cost from $800-$1000 for a full radon mitigation system.
4) Small stuff. Check appliances that are not working properly like the back burner of the stove that stopped working three years ago. Outlets that should be GFI protected and are not. Loose wiring, past leaks, doors and windows that don't open and close properly, smoke detectors that are not working or present, carbon monoxide detectors not present, garage door springs that no longer holds up the door, etc., etc.
Finally, I tell all buyers that whatever comes out in the inspection, don't freak out. I have never done an inspection and have the house come out clean as a whistle. The inspectors will always find something and 98% of the time, everything they find can be fixed. Even in rare situations when structural problems are discovered, don't worry! Even structural problems can be fixed and the house can be made to last a long, long time.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
1) Furnace and air conditioning coil needs to be serviced, cleaned and certified. I think every inspector puts this down. Sellers, take note, have your furnace and air conditioning coil cleaned, serviced, and certified before putting the home on the market. It only costs about $300 and it will save you from scaring away the buyer.
2) Roof. It seems that every roof shows some wear and tear. I see inspectors always put the following comments, "Roof is showing some wear and tear. Shingles need replacing and drip edge flashing needs to be added. Recommend that a licensed roof contractor evaluate." They always add the last part as their disclaimer. Inspectors are quick to point out that they are not a professional___________ and you should get an evaluation from a professional__________. This is to cover them from future litigation. Again, note to sellers that it would be a good idea to have your roof looked at for maintenance issues before you put the house on the market.
3) Radon: This is always on top of every buyer's home inspection list. Sellers should know ahead of time if they have a radon mitigation system. If not, you should have the house tested. Buyers from out of state that are not familiar with Colorado's radon problems get easily freaked out about a high radon test. This is easily fixable and should only cost from $800-$1000 for a full radon mitigation system.
4) Small stuff. Check appliances that are not working properly like the back burner of the stove that stopped working three years ago. Outlets that should be GFI protected and are not. Loose wiring, past leaks, doors and windows that don't open and close properly, smoke detectors that are not working or present, carbon monoxide detectors not present, garage door springs that no longer holds up the door, etc., etc.
Finally, I tell all buyers that whatever comes out in the inspection, don't freak out. I have never done an inspection and have the house come out clean as a whistle. The inspectors will always find something and 98% of the time, everything they find can be fixed. Even in rare situations when structural problems are discovered, don't worry! Even structural problems can be fixed and the house can be made to last a long, long time.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, December 8, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Skyventure Colorado" at http://ow.ly/7SWFy
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Skyventure Colorado" at http://ow.ly/7SWFy
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Skyventure Colorado" at http://ow.ly/7SWFy
Yelp Review for the week - Skyventure Colorado
This week we are going to see Yelp reviews of Skyventure Colorado, situated at 9230 Park Meadows Dr., Lone Tree, CO 80124, the perfect location along the beautiful front range of the Rocky Mountains. SkyVenture is not a simulator or a ride, it is flying! Completely immerse yourself in the world of body flight. SkyVenture offers a wall-to-wall smooth air column creating a safe and fun environment for your flight.
Few of the top reviews are given below:
Sydney from Lake Elsinore, CA says, "Regardless of whether you're a first time flyer or an experienced skydiver looking to work on your freefall skills, the team at SVCO is top notch. It was great to buy a 30 minute block and be able to split it up into three 10-minute sessions. Great way to work on some skills, debrief, take a breather, then get back into it. Highly recommend working with Kiwi - one of the best tunnel instructors around!"
Correy from Highlands Ranch, CO says, "A most incredible experience! A great gift idea for the person who has everything."
Kiersten from Greeley, CO says, "I had such a blast! Jordan was our instructor and he did a phenomenal job. He was so much fun and incredibly helpful as your guide while you're in the wind tunnel. My sister, boyfriend and I wound up loving it so much that we added on another minute to our fly time. Although it is a little pricey, it's definitely worth it. I can't say I'll ever do a real jump, but I can't wait to go back to this place and pretend!"
Few of the top reviews are given below:
Sydney from Lake Elsinore, CA says, "Regardless of whether you're a first time flyer or an experienced skydiver looking to work on your freefall skills, the team at SVCO is top notch. It was great to buy a 30 minute block and be able to split it up into three 10-minute sessions. Great way to work on some skills, debrief, take a breather, then get back into it. Highly recommend working with Kiwi - one of the best tunnel instructors around!"
Correy from Highlands Ranch, CO says, "A most incredible experience! A great gift idea for the person who has everything."
Kiersten from Greeley, CO says, "I had such a blast! Jordan was our instructor and he did a phenomenal job. He was so much fun and incredibly helpful as your guide while you're in the wind tunnel. My sister, boyfriend and I wound up loving it so much that we added on another minute to our fly time. Although it is a little pricey, it's definitely worth it. I can't say I'll ever do a real jump, but I can't wait to go back to this place and pretend!"
Wednesday, December 7, 2011
Read ?FHA ML 11-39 - Maximum Loan Lim...
Read “FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged” at http://ow.ly/7RyA8
Read ?FHA ML 11-39 - Maximum Loan Lim...
Read “FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged” at http://ow.ly/7RyA8
Read ?FHA ML 11-39 - Maximum Loan Lim...
Read “FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged” at http://ow.ly/7RyA8
FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged http://ping.fm/ue1jL
FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged
The Federal Housing Administration (FHA) has left loan limits unchanged for both forward (purchase and refinance mortgages), as well as Home Equity Conversion Mortgages (HECM). Home Equity Conversion Mortgages are commonly referred to as reverse mortgages and the statutory limit remains unchanged at $ 625,000. These limits will be in effect through 12/31/2012.
To lookup the FHA maximum loan limits for a specific county click on the link below or go directly to the FHA website.
http://ping.fm/5Qvkw
After flip flopping back and forth, VA has announced that there will be no change in funding fees from pre October 1, 2011 levels.
As always, I look forward to your questions and comments.
Best, Chip
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
To lookup the FHA maximum loan limits for a specific county click on the link below or go directly to the FHA website.
http://ping.fm/5Qvkw
After flip flopping back and forth, VA has announced that there will be no change in funding fees from pre October 1, 2011 levels.
As always, I look forward to your questions and comments.
Best, Chip
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
FHA ML 11-39 - Maximum Loan Limits in effect until 12/31/2012/ VA funding fees unchanged http://ping.fm/rkXkF
Tuesday, December 6, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Honesty" at http://ow.ly/7QpEi
Check out my latest real estate colum...
Check out my latest real estate column titled "Honesty" at http://ow.ly/7QpEi
Check out my latest real estate colum...
Check out my latest real estate column titled "Honesty" at http://ow.ly/7QpEi
Honesty. By Dan Polimino.
A friend of mine was on a business panel and he was asked the question, "As an employer, what is the number one characteristic you look for when hiring someone?"
He answered, "That's easy... honesty!" Amen to that! I could not agree more. He went on to say that people can learn and be trained in their respective jobs, but honesty is a hard quality to find in people these days. In fact, when you do find an honest individual, you usually get the whole package. That person tends to be good at their job, on time, looks to succeed in their endeavors, treats people well, is a great representative of the company or product, and helps not only the company, but helps themselves.
I would have to say that honesty has to be number one in real estate. We are dealing with transactions that mean a lot of money to a lot of people and honesty must be paramount. I have heard from buyers that won't use a Realtor ever, or ever again, because they had a bad experience with honesty. We've all heard about sellers or buyers that were not honest with one another about a purchase of a home. We've seen in recent years the crackdown on mortgage lenders again because of issues involving honesty. Appraisers have been scrutinized on whether or not they were providing honest evaluations. One of the biggest governing clauses in the real estate contract is Section Nine entitled "Good Faith." It talks about the buyer's and the seller's obligation to act in honesty and good faith during the course of the transaction. Many attorneys have won cases on just the "good faith" clause alone. That's how important it is.
Many times, buyers will work with Agent "A," and then out of the blue, buy a home with Agent "B," leaving Agent "A" that did all the work without a commission. Of course, they wouldn't sign a buyer's agency agreement, and in the end, they just did not want to be honest. Sellers tell brokers all time that they choose some other agent to sell their home. Do they tell the agent that did not get the listing the real reason why they were not chosen? Sometimes, but not often.
I think we would all agree that it's not easy finding the real, honest, genuine people these days. I try to trust my gut instincts, but even on my best day, I have to take a leap of faith and eventually trust someone.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
He answered, "That's easy... honesty!" Amen to that! I could not agree more. He went on to say that people can learn and be trained in their respective jobs, but honesty is a hard quality to find in people these days. In fact, when you do find an honest individual, you usually get the whole package. That person tends to be good at their job, on time, looks to succeed in their endeavors, treats people well, is a great representative of the company or product, and helps not only the company, but helps themselves.
I would have to say that honesty has to be number one in real estate. We are dealing with transactions that mean a lot of money to a lot of people and honesty must be paramount. I have heard from buyers that won't use a Realtor ever, or ever again, because they had a bad experience with honesty. We've all heard about sellers or buyers that were not honest with one another about a purchase of a home. We've seen in recent years the crackdown on mortgage lenders again because of issues involving honesty. Appraisers have been scrutinized on whether or not they were providing honest evaluations. One of the biggest governing clauses in the real estate contract is Section Nine entitled "Good Faith." It talks about the buyer's and the seller's obligation to act in honesty and good faith during the course of the transaction. Many attorneys have won cases on just the "good faith" clause alone. That's how important it is.
Many times, buyers will work with Agent "A," and then out of the blue, buy a home with Agent "B," leaving Agent "A" that did all the work without a commission. Of course, they wouldn't sign a buyer's agency agreement, and in the end, they just did not want to be honest. Sellers tell brokers all time that they choose some other agent to sell their home. Do they tell the agent that did not get the listing the real reason why they were not chosen? Sometimes, but not often.
I think we would all agree that it's not easy finding the real, honest, genuine people these days. I try to trust my gut instincts, but even on my best day, I have to take a leap of faith and eventually trust someone.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, December 2, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Fischer Van Lines, Denver, CO" at http://ow.ly/7MyQS
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Fischer Van Lines, Denver, CO" at http://ow.ly/7MyQS
Yelp Review for the week - Fischer Van Lines, Denver, CO
This week we are going to see Yelp reviews of Fischer Van Lines, situated at 5231 Monroe St., Denver, CO 80216. Fischer Van Lines is a family owned and operated Denver mover with the experience and resources to manage your residential or commercial relocation. From planning and packing, transport and unpacking, they offer an array of professional moving and storage solutions to meet your needs. Few of the top reviews are given below:
Natasha from Denver, CO says, "Fischer Van Lines was amazing for my roommate and me. The guys they sent were completely awesome! We moved from the third floor of one apartment, where the elevator was on the OTHER side of the building to the second floor of another building, where the guys said they liked our new place better....wonder why? Amelia was great getting us set up with our confirmation and the guys were even early which was awesome. There is one thing I hate about moving and it is the moving part. It's nice to know I can hire such great guys and gals to take care of our stuff so well!!"
Megan from Austin, TX says, "Fischer Van Lines gets a 5 star rating from me. They were prompt, courteous and professional. I received two phone calls prior to arrival the morning of my move day letting me know they were on their way and ETA. No items were damaged in the move. I paid exactly what was quoted in my estimate - no surprises. Although I never plan to move again, I would highly recommend Fischer to friends and family."
Natasha from Denver, CO says, "Fischer Van Lines was amazing for my roommate and me. The guys they sent were completely awesome! We moved from the third floor of one apartment, where the elevator was on the OTHER side of the building to the second floor of another building, where the guys said they liked our new place better....wonder why? Amelia was great getting us set up with our confirmation and the guys were even early which was awesome. There is one thing I hate about moving and it is the moving part. It's nice to know I can hire such great guys and gals to take care of our stuff so well!!"
Megan from Austin, TX says, "Fischer Van Lines gets a 5 star rating from me. They were prompt, courteous and professional. I received two phone calls prior to arrival the morning of my move day letting me know they were on their way and ETA. No items were damaged in the move. I paid exactly what was quoted in my estimate - no surprises. Although I never plan to move again, I would highly recommend Fischer to friends and family."
Thursday, December 1, 2011
Read my latest blog post titled "Give...
Read my latest blog post titled "Give yourself a Christmas present!" at http://ow.ly/7LfVF
Read my latest blog post titled "Give...
Read my latest blog post titled "Give yourself a Christmas present!" at http://ow.ly/7LfVF
Read my latest blog post titled "Give...
Read my latest blog post titled "Give yourself a Christmas present!" at http://ow.ly/7LfVF
Wednesday, November 30, 2011
Watch "Stunning Home For Sale in Beac...
Watch "Stunning Home For Sale in Beacon Point" at http://ow.ly/7JL9t
Watch "Stunning Home For Sale in Beac...
Watch "Stunning Home For Sale in Beacon Point" at http://ow.ly/7JL9t
Watch "Stunning Home For Sale in Beac...
Watch "Stunning Home For Sale in Beacon Point" at http://ow.ly/7JL9t
Tuesday, November 29, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "It's Christmas Time in the City" at http://ow.ly/7Iwwc
Check out my latest real estate colum...
Check out my latest real estate column titled "It's Christmas Time in the City" at http://ow.ly/7Iwwc
Check out my latest real estate colum...
Check out my latest real estate column titled "It's Christmas Time in the City" at http://ow.ly/7Iwwc
It's Christmas Time in the City. By Dan Polimino.
What does Christmas Time mean for buyers and sellers in the Colorado real estate market? To be honest, it's a mixed bag and here is what I mean.
Buyers: Expect to see less choice on the market. The metro area has been struggling with having enough supply of homes all year and at Christmas, inventory drops even further. Many sellers will take their home off the market in December because they don't want to be bothered with showings when guests and relatives are visiting. The Holidays are busy enough and keeping your home in show ready condition to sell can make life harder. There's good news here though for buyers. Homes on the market over Christmas are motivated sellers. You may be able to negotiate a better deal at this time of the year then during peak selling season.
Sellers: You may be asking yourself, "Does anyone go to look at and buy homes in December?" The answer is yes and only the serious ones. Most of the time, people looking at homes over the Holidays are the ones that must buy now, like a relocation client that needs to start work January 2nd. If you get a showing over the next four weeks, at least you can rest assured that it's probably not a looky-loo. The other option here is for you to take the home off the market for 30 days and take a break. The rest might be good for you. Put the home back on the market after the first of the year, you'll get a new MLS #, and it will appear as a new listing. The real estate business should pick up again around the 15th of January.
Finally, I love showing homes over the Holidays. I love looking at how everyone decorates and how they celebrate the Holiday. Coloradans do an amazing job with their homes and Holiday decorations.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at dan@danpolimino.com and www.coloradodreamhouse.com/denverpost
Buyers: Expect to see less choice on the market. The metro area has been struggling with having enough supply of homes all year and at Christmas, inventory drops even further. Many sellers will take their home off the market in December because they don't want to be bothered with showings when guests and relatives are visiting. The Holidays are busy enough and keeping your home in show ready condition to sell can make life harder. There's good news here though for buyers. Homes on the market over Christmas are motivated sellers. You may be able to negotiate a better deal at this time of the year then during peak selling season.
Sellers: You may be asking yourself, "Does anyone go to look at and buy homes in December?" The answer is yes and only the serious ones. Most of the time, people looking at homes over the Holidays are the ones that must buy now, like a relocation client that needs to start work January 2nd. If you get a showing over the next four weeks, at least you can rest assured that it's probably not a looky-loo. The other option here is for you to take the home off the market for 30 days and take a break. The rest might be good for you. Put the home back on the market after the first of the year, you'll get a new MLS #, and it will appear as a new listing. The real estate business should pick up again around the 15th of January.
Finally, I love showing homes over the Holidays. I love looking at how everyone decorates and how they celebrate the Holiday. Coloradans do an amazing job with their homes and Holiday decorations.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at dan@danpolimino.com and www.coloradodreamhouse.com/denverpost
Tuesday, November 22, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "You Can Change Your Life With A Pen" at http://ow.ly/7BzVT
Check out my latest real estate colum...
Check out my latest real estate column titled "You Can Change Your Life With A Pen" at http://ow.ly/7BzVT
Check out my latest real estate colum...
Check out my latest real estate column titled "You Can Change Your Life With A Pen" at http://ow.ly/7BzVT
You Can Change Your Life With A Pen. By Dan Polimino.
It's important to note that I cannot sell your home. That's right. Even though I am a Realtor, I cannot sell your home. My name is not on the deed, I can’t sign the contract, and I can't even decide on the terms or the price. That is your sole discretion as seller and owner. Once you are presented an offer, you can decide your future with one stroke of the pen.
You see, many people get confused on the role of a Realtor. Our job description includes helping you prepare your home for sale, help you price it properly, market the home, follow up showings, and encourage offers. Once the offer is made, you decide on the price and terms. Yes, we do negotiate on your behalf with other Realtors to get you the best deal possible, but in end, you decide if it's time to sell and move on.
Many times, sellers do not like the offers I bring them. I understand that. No one likes to take less for their home than they think its worth, but it's reality in today's real estate market. Sellers are in a tough position because the main thing they have to decide is to take the lower offer or wait for a better one. None of us has a crystal ball to be able to predict the future. Whether or not a seller will get another offer if they turn this one down, and whether or not the next one will be higher is a game very few people can master. If you are lucky in today's market, you'll get one to two offers, and if you got two or more that is 95% better than most.
Sometimes, the best choice is to take the lower offer and move on with your life. Many people have told me, "That's easy for you to say because it's not your money," and you would be correct. What's the alternative? You could be holding that house and all of its expenses much longer and a better offer may not ever come. In fact, the odds say that as time goes on, the offers get worse and not better.
Oh yeah, and one last job duty that I have is to give sound advice. I try to do that with all of my clients and again, you decide to take it or leave it. It's your future, your choice, and we always pray that you make a good decision.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
You see, many people get confused on the role of a Realtor. Our job description includes helping you prepare your home for sale, help you price it properly, market the home, follow up showings, and encourage offers. Once the offer is made, you decide on the price and terms. Yes, we do negotiate on your behalf with other Realtors to get you the best deal possible, but in end, you decide if it's time to sell and move on.
Many times, sellers do not like the offers I bring them. I understand that. No one likes to take less for their home than they think its worth, but it's reality in today's real estate market. Sellers are in a tough position because the main thing they have to decide is to take the lower offer or wait for a better one. None of us has a crystal ball to be able to predict the future. Whether or not a seller will get another offer if they turn this one down, and whether or not the next one will be higher is a game very few people can master. If you are lucky in today's market, you'll get one to two offers, and if you got two or more that is 95% better than most.
Sometimes, the best choice is to take the lower offer and move on with your life. Many people have told me, "That's easy for you to say because it's not your money," and you would be correct. What's the alternative? You could be holding that house and all of its expenses much longer and a better offer may not ever come. In fact, the odds say that as time goes on, the offers get worse and not better.
Oh yeah, and one last job duty that I have is to give sound advice. I try to do that with all of my clients and again, you decide to take it or leave it. It's your future, your choice, and we always pray that you make a good decision.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Monday, November 21, 2011
Friday, November 18, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Savory Spice Shop, Denver, CO" at http://ow.ly/7xPei
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Savory Spice Shop, Denver, CO" at http://ow.ly/7xPei
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Savory Spice Shop, Denver, CO" at http://ow.ly/7xPei
Yelp Review for the week - Savory Spice Shop, Denver, CO
This week we are going to see Yelp reviews of Savory Spice Shop, situated at 200 Quebec St, Bldg 600, Unit 101, Denver, CO 80230. Few of the top reviews are given below:
Cheryl from Parker, CO says, "OMG! I'm in heaven every time I walk into this shop. I love everything about it - the smell, the taste, and the people that work there. They are so helpful and are quick to offer suggestions and feedback. $1 spice jars can't be beat and you can buy small quantities so that if you don't use things very often that they won't go stale. Their spices are all organic and very fresh. Just wonderful. If you haven't had a chance to go in please do."
Wanda from Denver, CO says, "A friend introduced me to the shop in Boulder last year and I have been in love ever since. If you have any interest in cooking, then the Savory Spice Shop is the place for you. All of the spices are so fresh and so much better than the pre-packaged spices that you purchase in a grocery store. Imagine looking for cinnamon and finding 5 or more different varieties. I love that you can purchase a small plastic bag of a couple of ounces, a smallish glass jar (that can be refilled) or larger sizes, as you prefer. I went in to the Lowry location on my way home from work looking to make tacos and I didn't want to buy another taco seasoning mix. The people in my household are very exacting, so it was great to be able to pick up a couple different types of taco seasoning and let the "men" pick out which seasoning they would prefer with the evening's tacos. I purchased two 2-oz packs for under $5 and tried them out. Everyone enjoyed the taco seasoning and we were pleased with the flavorful quality. The Savory Spice Shop also carries several blends that are already set up in glass jars for around $5 each. We really enjoy the new flavors that their spices have given to our food. Just enjoy and be happy. Good spices, flavor and happy staff. Can't go wrong here."
Cheryl from Parker, CO says, "OMG! I'm in heaven every time I walk into this shop. I love everything about it - the smell, the taste, and the people that work there. They are so helpful and are quick to offer suggestions and feedback. $1 spice jars can't be beat and you can buy small quantities so that if you don't use things very often that they won't go stale. Their spices are all organic and very fresh. Just wonderful. If you haven't had a chance to go in please do."
Wanda from Denver, CO says, "A friend introduced me to the shop in Boulder last year and I have been in love ever since. If you have any interest in cooking, then the Savory Spice Shop is the place for you. All of the spices are so fresh and so much better than the pre-packaged spices that you purchase in a grocery store. Imagine looking for cinnamon and finding 5 or more different varieties. I love that you can purchase a small plastic bag of a couple of ounces, a smallish glass jar (that can be refilled) or larger sizes, as you prefer. I went in to the Lowry location on my way home from work looking to make tacos and I didn't want to buy another taco seasoning mix. The people in my household are very exacting, so it was great to be able to pick up a couple different types of taco seasoning and let the "men" pick out which seasoning they would prefer with the evening's tacos. I purchased two 2-oz packs for under $5 and tried them out. Everyone enjoyed the taco seasoning and we were pleased with the flavorful quality. The Savory Spice Shop also carries several blends that are already set up in glass jars for around $5 each. We really enjoy the new flavors that their spices have given to our food. Just enjoy and be happy. Good spices, flavor and happy staff. Can't go wrong here."
Thursday, November 17, 2011
Read "HARP program for underwater hom...
Read "HARP program for underwater homeowners: Will the sequel be better than the original?" at http://ow.ly/7wMfC
Read "HARP program for underwater hom...
Read "HARP program for underwater homeowners: Will the sequel be better than the original?" at http://ow.ly/7wMfC
Read "HARP program for underwater hom...
Read "HARP program for underwater homeowners: Will the sequel be better than the original?" at http://ow.ly/7wMfC
HARP program for underwater homeowners: Will the sequel be better than the original?
Most of the time, the sequel to a movie is never as good as the original. Recently the federal government announced that it was reviving the Home Ownership Refinancing Program (HARP) allowing homeowners who owe more their home is worth to refinance. Always the optimist, I feel that this program will be better than the original, if only because the original was such a dismal failure. Not to harp (no pun intended) about how bad the original program was, but I have read from a variety of different sources the success rate was around twenty percent. Based upon what I have witnessed firsthand, from speaking to many disillusioned homeowners, I wonder if the real number was not closer to ten percent.
Supposedly, the new improved HARP program will not have a loan to value (LTV) cap allowing more homeowners to qualify for the program. Under the old rules the maximum LTV was 125%. This means that if the property was valued at $200,000 the existing mortgage would need to be $250,000 or less. This program is for existing Fannie Mae or Freddie Mac mortgages that were originated before May 31, 2009, either owner occupied or rental properties.
One important fact to remember is that existing FHA mortgages may, in most cases, be refinanced without an appraisal and very reasonable guidelines on income etc. This applies to both owner occupied properties and homes that were converted to rentals. I am closing a loan this month where the homeowners filed bankruptcy two years ago and their home has dropped in value. They were convinced they were stuck with a six percent interest rate, but fortunately they listened to a relative who insisted they call me to check if their were any options. A borrower should never pay an upfront fee to look a potential refinance to see if it is viable.
Will keep you posted as I learn more. As always, your questions and comments are welcome.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Supposedly, the new improved HARP program will not have a loan to value (LTV) cap allowing more homeowners to qualify for the program. Under the old rules the maximum LTV was 125%. This means that if the property was valued at $200,000 the existing mortgage would need to be $250,000 or less. This program is for existing Fannie Mae or Freddie Mac mortgages that were originated before May 31, 2009, either owner occupied or rental properties.
One important fact to remember is that existing FHA mortgages may, in most cases, be refinanced without an appraisal and very reasonable guidelines on income etc. This applies to both owner occupied properties and homes that were converted to rentals. I am closing a loan this month where the homeowners filed bankruptcy two years ago and their home has dropped in value. They were convinced they were stuck with a six percent interest rate, but fortunately they listened to a relative who insisted they call me to check if their were any options. A borrower should never pay an upfront fee to look a potential refinance to see if it is viable.
Will keep you posted as I learn more. As always, your questions and comments are welcome.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
HARP program for underwater homeowners: Will the sequel be better than the original? http://ping.fm/ptlel
HARP program for underwater homeowners: Will the sequel be better than the original? http://ping.fm/aILYV
Wednesday, November 16, 2011
Watch this Mountain Home Close To The...
Watch this Mountain Home Close To The Ski Resorts at Conifer, CO at http://ow.ly/7vqsv
Watch this Mountain Home Close To The...
Watch this Mountain Home Close To The Ski Resorts at Conifer, CO at http://ow.ly/7vqsv
Watch this Mountain Home Close To The...
Watch this Mountain Home Close To The Ski Resorts at Conifer, CO at http://ow.ly/7vqsv
Tuesday, November 15, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Hard Money Lending" at http://ow.ly/7u2P6
Check out my latest real estate colum...
Check out my latest real estate column titled "Hard Money Lending" at http://ow.ly/7u2P6
Check out my latest real estate colum...
Check out my latest real estate column titled "Hard Money Lending" at http://ow.ly/7u2P6
Hard Money Lending. By Dan Polimino.
If you have been following this column all month, you would know that I have been writing about the fix and flip business as well the fix and rent business. If you would like to re-read any of those columns, you can do so at www.coloradodreamhouse.com/news.
This week, I want to write about a sub business that has developed in the last few years to help the fix and flip guys buy property without all the lending hassle. It's called "hard money lending" and it's been around for years, but it just recently gained enormous popularity because of the new stringent guidelines associated with getting home loans. People with a fair amount of cash on hand or a warehouse line of credit have been lending money out to investors of income properties. Here is how it works:
Let's say that you are a fix and flip guy and want to buy a house quickly to renovate and re-sell. You may be able to make a cash offer to a seller with no appraisal, no inspection, no survey, and a 10-day close. That would be attractive to most sellers and they may likely take a low offer in exchange for the terms you have offered. What the investor does is that he borrows the money from a hard money lender. This individual usually charges 12-16 percent interest on a short-term six-month loan (assuming that you will sell the property in six months or less). He most likely will charge 1-4 percent up front (points) on the amount of the loan. Sound expensive? Yes, it can be, but it needs to be factored into your business model. If you are buying the home right (meaning low) and you are selling it high, the lending fees just become a part of the overall expense of the project. The key here is to fix it in 30 days or less and sell it in 30 days or less. What happens if you get caught at the end of six months and you're still not able to sell the house? Be prepared to find another source of financing because the note becomes one big balloon payment. If you can't pay, chances are that the hard money lender will take the investment home.
This has become a big business and I am working with more hard money lenders these days than I am with traditional lenders. This may be an option for you to start a business or it may be an option for you to purchase that investment home.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
This week, I want to write about a sub business that has developed in the last few years to help the fix and flip guys buy property without all the lending hassle. It's called "hard money lending" and it's been around for years, but it just recently gained enormous popularity because of the new stringent guidelines associated with getting home loans. People with a fair amount of cash on hand or a warehouse line of credit have been lending money out to investors of income properties. Here is how it works:
Let's say that you are a fix and flip guy and want to buy a house quickly to renovate and re-sell. You may be able to make a cash offer to a seller with no appraisal, no inspection, no survey, and a 10-day close. That would be attractive to most sellers and they may likely take a low offer in exchange for the terms you have offered. What the investor does is that he borrows the money from a hard money lender. This individual usually charges 12-16 percent interest on a short-term six-month loan (assuming that you will sell the property in six months or less). He most likely will charge 1-4 percent up front (points) on the amount of the loan. Sound expensive? Yes, it can be, but it needs to be factored into your business model. If you are buying the home right (meaning low) and you are selling it high, the lending fees just become a part of the overall expense of the project. The key here is to fix it in 30 days or less and sell it in 30 days or less. What happens if you get caught at the end of six months and you're still not able to sell the house? Be prepared to find another source of financing because the note becomes one big balloon payment. If you can't pay, chances are that the hard money lender will take the investment home.
This has become a big business and I am working with more hard money lenders these days than I am with traditional lenders. This may be an option for you to start a business or it may be an option for you to purchase that investment home.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, November 11, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Babylon Floral" at http://ow.ly/7quYb
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Babylon Floral" at http://ow.ly/7quYb
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Babylon Floral" at http://ow.ly/7quYb
Yelp Review for the week - Babylon Floral
This week we are going to see Yelp reviews of Babylon Floral, situated at 1223 E 17th Ave., Denver, CO 80218. Few of the top reviews are given below:
Melissa, from Denver, CO says, "Babylon Floral is my new favorite florist! The shop is beautiful, peaceful and inviting. It took me walking around the store three times before I really felt that I had seen everything, mostly because, with his arrangements, I found the smallest details to be the prettiest and there were a LOT of small details. Arthur was very friendly and when he asked what kind of occasion I needed a fresh arrangement for (my sister is currently bed-ridden after getting into a pretty gnarly scooter accident), and what my budget was ($40) he knew exactly what to put together for me. 10 minutes later, he was done and the finished product was a masterpiece! I came home promptly and told my husband that all future floral purchases absolutely MUST come from Babylon. After seeing the arrangement that Arthur put together, my husband definitely agreed that we'd be working with them again in the future."
Rachel, from Denver, CO says, "After reading all of the wonderful reviews here and in other places on the web, I thought I would pop in to check out the shop and talk with Arthur about our wedding flowers this fall. I really was amazed by Arthur's level of creativity, his vision, and his ability to communicate with me (who lacks both of those things in terms of flowers!!) to provide me with flowers that were simply gorgeous. For the level of service I received from Arthur and his staff, I expected a bill to be at least twice as much as the one we actually paid... I loved every blossom in the building on our wedding day, and all of the guests were equally impressed. Thank you, Arthur!! Your craft is such a gift and you really blew us all away with the incredibly beautiful blooms you made for our special celebration. I am so grateful to you!! Brides, make sure you call this shop if you are looking for something unique and beautiful to make your day as special as it should be!!"
Melissa, from Denver, CO says, "Babylon Floral is my new favorite florist! The shop is beautiful, peaceful and inviting. It took me walking around the store three times before I really felt that I had seen everything, mostly because, with his arrangements, I found the smallest details to be the prettiest and there were a LOT of small details. Arthur was very friendly and when he asked what kind of occasion I needed a fresh arrangement for (my sister is currently bed-ridden after getting into a pretty gnarly scooter accident), and what my budget was ($40) he knew exactly what to put together for me. 10 minutes later, he was done and the finished product was a masterpiece! I came home promptly and told my husband that all future floral purchases absolutely MUST come from Babylon. After seeing the arrangement that Arthur put together, my husband definitely agreed that we'd be working with them again in the future."
Rachel, from Denver, CO says, "After reading all of the wonderful reviews here and in other places on the web, I thought I would pop in to check out the shop and talk with Arthur about our wedding flowers this fall. I really was amazed by Arthur's level of creativity, his vision, and his ability to communicate with me (who lacks both of those things in terms of flowers!!) to provide me with flowers that were simply gorgeous. For the level of service I received from Arthur and his staff, I expected a bill to be at least twice as much as the one we actually paid... I loved every blossom in the building on our wedding day, and all of the guests were equally impressed. Thank you, Arthur!! Your craft is such a gift and you really blew us all away with the incredibly beautiful blooms you made for our special celebration. I am so grateful to you!! Brides, make sure you call this shop if you are looking for something unique and beautiful to make your day as special as it should be!!"
Wednesday, November 9, 2011
Denver Real Estate Weekly Market Upda...
Denver Real Estate Weekly Market Update titled "Do I Keep My House On The Market Over The Holidays?" at http://ow.ly/7nNX2
Denver Real Estate Weekly Market Upda...
Denver Real Estate Weekly Market Update titled "Do I Keep My House On The Market Over The Holidays?" at http://ow.ly/7nNX2
Tuesday, November 8, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Fixing and Renting" at http://ow.ly/7mNS6
Check out my latest real estate colum...
Check out my latest real estate column titled "Fixing and Renting" at http://ow.ly/7mNS6
Check out my latest real estate colum...
Check out my latest real estate column titled "Fixing and Renting" at http://ow.ly/7mNS6
Fixing and Renting. By Dan Polimino.
If you read my column from last week, you would know that I was talking about how hard it is right now to find a good fix and flip home. Inventory is so low that contractors cannot find enough good homes to buy to sustain their fix and flip market. I have resorted to knocking on doors of duplexes that are not even listed for sale. If you want to re-read that column, go to coloradodreamhouse.com/news.
This week, I want to talk about whether or not you should fix and flip the house or fix and rent. Fix and flip has been the most popular during the last several years because cash is king, and people running this as business want to get their cash out of the house as soon as possible. This formula has worked well while homes were easy to buy at low prices. The reduction in inventory has made this business model much more difficult in the last year. So why not buy a fixer upper and then rent it?
I saw a statistic this past summer that there was only a 1.4% vacancy rate in the city of Denver for rentals. That is historically low and tells us that rentals are in big, big demand, so the fix and rent option looks great. In most cases, you'll not only rent it quickly, you'll get top dollar and probably get a long term rental. If you bought the home at the right price, chances are the property has a positive cash flow, meaning, you are covering the mortgage and making a little money from the rental income.
So why bother to fix and flip when you can fix and rent? You may run into a problem when you are initially trying to purchase the property. If you plan on getting a loan, a lot of lenders do not like to lend on investment properties. Those that do may require 20-30 percent down, may ask you to show your history as a landlord, and will in every case charge a higher interest rate. This becomes a barrier to fixing and renting. Chances are that you'll spend the fix up money on the down payment for the lender. If you cannot meet those qualifications, then you will need to buy the investment property with cash. You could take out a home equity loan from your primary home or you could use a hard money lender (I'll go into that in a column next week).
In the end, both approaches have their pluses and minuses. As I have said many times before, it's not that easy of a business. Although if you have good people helping you make the right decisions, money can be made.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
This week, I want to talk about whether or not you should fix and flip the house or fix and rent. Fix and flip has been the most popular during the last several years because cash is king, and people running this as business want to get their cash out of the house as soon as possible. This formula has worked well while homes were easy to buy at low prices. The reduction in inventory has made this business model much more difficult in the last year. So why not buy a fixer upper and then rent it?
I saw a statistic this past summer that there was only a 1.4% vacancy rate in the city of Denver for rentals. That is historically low and tells us that rentals are in big, big demand, so the fix and rent option looks great. In most cases, you'll not only rent it quickly, you'll get top dollar and probably get a long term rental. If you bought the home at the right price, chances are the property has a positive cash flow, meaning, you are covering the mortgage and making a little money from the rental income.
So why bother to fix and flip when you can fix and rent? You may run into a problem when you are initially trying to purchase the property. If you plan on getting a loan, a lot of lenders do not like to lend on investment properties. Those that do may require 20-30 percent down, may ask you to show your history as a landlord, and will in every case charge a higher interest rate. This becomes a barrier to fixing and renting. Chances are that you'll spend the fix up money on the down payment for the lender. If you cannot meet those qualifications, then you will need to buy the investment property with cash. You could take out a home equity loan from your primary home or you could use a hard money lender (I'll go into that in a column next week).
In the end, both approaches have their pluses and minuses. As I have said many times before, it's not that easy of a business. Although if you have good people helping you make the right decisions, money can be made.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, November 4, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Golf Club At Bear Dance" at http://ow.ly/7j7Ds
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Golf Club At Bear Dance" at http://ow.ly/7j7Ds
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Golf Club At Bear Dance" at http://ow.ly/7j7Ds
Yelp Review for the week - Golf Club At Bear Dance
This week we are going to see Yelp reviews of Golf Club At Bear Dance, situated at 6630 Bear Dance Road, Larkspur, CO 80018. Few of the top reviews are given below:
G V., from Colorado Springs, CO says, "Great course. Very challenging. Great time of year to play. Little wind, grass is still green, air is cool and fall colors are popping all around. Greens are quick and very true (although some are a bit rough this year). Driving range is great, balls included. Practice area is nice. Use the practice green to gauge your speed. DONT play the tips if you are over a 5 hdcp....you'll not enjoy it and you WILL slow down play. GPS seem pretty accurate and if you are not from altitude, take into consideration the ball flys quite a bit further. If your lucky the surrounding mountains will have some snow caps. Seen fox, turkey and some small critters out here but never the bear. I heard the bear is with two cubs between 17 green and 18 tee mostly. Watch out."
Christine P., from Denver, CO says, "This might be one of the most beautiful courses in Colorado - and that's saying a lot! The course is interesting and challenging with a number of fairly tight fairways. They say it 7726 yards, but most of the professional tees seemed to be missing. So, it may be a bit shorter than that. There are only a few houses on the course which is such a treat. This scenery need no homes to spoil to it! They have a nice practice facility and club house. If I have friends visiting from out of state, this is the course I would take them to. It is a great course that is quintessential Colorado."
G V., from Colorado Springs, CO says, "Great course. Very challenging. Great time of year to play. Little wind, grass is still green, air is cool and fall colors are popping all around. Greens are quick and very true (although some are a bit rough this year). Driving range is great, balls included. Practice area is nice. Use the practice green to gauge your speed. DONT play the tips if you are over a 5 hdcp....you'll not enjoy it and you WILL slow down play. GPS seem pretty accurate and if you are not from altitude, take into consideration the ball flys quite a bit further. If your lucky the surrounding mountains will have some snow caps. Seen fox, turkey and some small critters out here but never the bear. I heard the bear is with two cubs between 17 green and 18 tee mostly. Watch out."
Christine P., from Denver, CO says, "This might be one of the most beautiful courses in Colorado - and that's saying a lot! The course is interesting and challenging with a number of fairly tight fairways. They say it 7726 yards, but most of the professional tees seemed to be missing. So, it may be a bit shorter than that. There are only a few houses on the course which is such a treat. This scenery need no homes to spoil to it! They have a nice practice facility and club house. If I have friends visiting from out of state, this is the course I would take them to. It is a great course that is quintessential Colorado."
Thursday, November 3, 2011
What is the Ratchet Effect?
The Ratchet Effect is one of the few economic theories that has any relation to reality. As President Harry Truman succinctly observed, if you laid every economist end to end, they would point in every direction, and only be able to explain things after they have happened. In essence it holds that some prices move a lot faster in one direction than another. One example is the price for gasoline, another is long term interest rates for mortgages. While money is still at historic lows, we have seen interest rates fluctuate a lot in the last month. Interest rates always rocket up and float down.
Trying to guess the direction of interest rates, particularly short term rates, is impossible. The way to win is simple. Obtain a mortgage with the lowest possible closing costs. If rates go up you have won. If they drop significantly, you refinance and win again. In most circumstances it is a mistake to spend a lot on front end costs. When we look at the recapture costs associated with a low or no cost loan, it usually takes over five years to break even when you compare the upfront costs and divide by the monthly savings. For example, if the closing costs are $3,600 for a $200,000 mortgage at 4%, and zero closing costs for the same mortgage at 4.5%, the difference in the payment is $60 per month. It would therefore take five years to break even before other factors such as the time value of money, tax effect, etc are considered.
As always do the numbers to determine what is best for your unique, individual financial profile.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Trying to guess the direction of interest rates, particularly short term rates, is impossible. The way to win is simple. Obtain a mortgage with the lowest possible closing costs. If rates go up you have won. If they drop significantly, you refinance and win again. In most circumstances it is a mistake to spend a lot on front end costs. When we look at the recapture costs associated with a low or no cost loan, it usually takes over five years to break even when you compare the upfront costs and divide by the monthly savings. For example, if the closing costs are $3,600 for a $200,000 mortgage at 4%, and zero closing costs for the same mortgage at 4.5%, the difference in the payment is $60 per month. It would therefore take five years to break even before other factors such as the time value of money, tax effect, etc are considered.
As always do the numbers to determine what is best for your unique, individual financial profile.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Wednesday, November 2, 2011
Watch "Green Home of the Year in Colo...
Watch "Green Home of the Year in Colorado" at http://ow.ly/7gMMO
Watch "Green Home of the Year in Colo...
Watch "Green Home of the Year in Colorado" at http://ow.ly/7gMMO
Watch "Green Home of the Year in Colo...
Watch "Green Home of the Year in Colorado" at http://ow.ly/7gMMO
Tuesday, November 1, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Fix and Flips Are Hard To Come By" at http://ow.ly/7fuoz
Check out my latest real estate colum...
Check out my latest real estate column titled "Fix and Flips Are Hard To Come By" at http://ow.ly/7fuoz
Check out my latest real estate colum...
Check out my latest real estate column titled "Fix and Flips Are Hard To Come By" at http://ow.ly/7fuoz
Fix and Flips Are Hard To Come By. By Dan Polimino.
There once was a time when there were so many properties on the market that buying a fix and flip was a piece of cake. Just make an offer, even a low-ball offer, and chances are that you had a deal. It's a different story today. As you have been reading in this column and hearing on the news, housing inventory is low in Denver. It's really low when you are trying to buy a home to fix up between $100,000 and $200,000. Don't get me wrong, there are homes to buy in this price range, but remember that they need to be able to fit into the fix and flip model. Here are the criteria:
a. Good location
b. Need rehab
c. Need to buy it low and sell it high so you can make a profit after fix up costs.
Not every 100-200K home fits that profile, so Realtors like me have been working double time to help our clients find properties to buy. This is the first year in many that I have resorted to knocking on doors of properties that are not even for sale. If I see a nice duplex in a good location or emerging neighborhood, I'll knock on the door and ask who owns the property. If the owner lives on premises, I'll ask him or her if they are willing to sell it, and at what price. Most of the time, it doesn't work that easy. I'll have to find out who owns the property from public record and then see if I can track down the contact information for the owner.
Once we have made it that far, then the fun begins. What will the owner sell it for? Does that price fit the business model? Will the owner pay a commission to me, the Realtor? The percentages of this working out are not great and you may have to speak to 10 or 20 to get a real good one, but sometimes, that one good one can make everyone a fair amount of money.
This is what it takes to play in the fix and flip market these days. So if you own a good income property, now may be the time to sell it. There are plenty of contractors out there that need good homes to flip.
Next week, I'll talk about fixing & flipping versus fixing and renting.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
a. Good location
b. Need rehab
c. Need to buy it low and sell it high so you can make a profit after fix up costs.
Not every 100-200K home fits that profile, so Realtors like me have been working double time to help our clients find properties to buy. This is the first year in many that I have resorted to knocking on doors of properties that are not even for sale. If I see a nice duplex in a good location or emerging neighborhood, I'll knock on the door and ask who owns the property. If the owner lives on premises, I'll ask him or her if they are willing to sell it, and at what price. Most of the time, it doesn't work that easy. I'll have to find out who owns the property from public record and then see if I can track down the contact information for the owner.
Once we have made it that far, then the fun begins. What will the owner sell it for? Does that price fit the business model? Will the owner pay a commission to me, the Realtor? The percentages of this working out are not great and you may have to speak to 10 or 20 to get a real good one, but sometimes, that one good one can make everyone a fair amount of money.
This is what it takes to play in the fix and flip market these days. So if you own a good income property, now may be the time to sell it. There are plenty of contractors out there that need good homes to flip.
Next week, I'll talk about fixing & flipping versus fixing and renting.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Saturday, October 29, 2011
Friday, October 28, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Woody's Wings Aurora" at http://ow.ly/7c4r6
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Woody's Wings Aurora" at http://ow.ly/7c4r6
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Woody's Wings Aurora" at http://ow.ly/7c4r6
Wednesday, October 26, 2011
Watch "Home For Sale in Beacon Point/...
Watch "Home For Sale in Beacon Point/South Shore" at http://ow.ly/79DOV
Watch "Home For Sale in Beacon Point/...
Watch "Home For Sale in Beacon Point/South Shore" at http://ow.ly/79DOV
Watch "Home For Sale in Beacon Point/...
Watch "Home For Sale in Beacon Point/South Shore" at http://ow.ly/79DOV
Tuesday, October 25, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled “The Spreadsheet Guy” at http://ow.ly/78i76
Check out my latest real estate colum...
Check out my latest real estate column titled “The Spreadsheet Guy” at http://ow.ly/78i76
Check out my latest real estate colum...
Check out my latest real estate column titled "The Spreadsheet Guy" at http://ow.ly/78i76
The Spreadsheet Guy. By Dan Polimino.
Have you ever heard of the spreadsheet guy? It is today's modern buyer. He is highly educated, highly motivated, and beyond analytical. This is the guy that goes out to look at homes with his laptop or iPad in hand. On it is a spreadsheet that could choke a horse. This type of person would have already broken down every home for sale in the neighborhood he is interested in and then the nearby neighborhoods as well. He'll know every home address for sale, the beds, the baths, the square foot, lot size, age, what it previously sold for, and the most important stat of all...price per square foot. Most of the time, he will be able to quote sales trends like a chapter and verse of the Bible for the last 6 and 12 months. Once the time comes to make an offer on a house, he will pin down the sales price right down to the penny. So what's wrong with that... right?
There is nothing wrong with that. In fact, I love an educated buyer. It makes my job so much easier. The only issue we run into is that very rarely does that sale pan out just like the spreadsheet guy planned. All the home work, studying and analyzing is great, but at the end of the day, the sale boils down to one thing, "What is a seller willing to sell for and what is a buyer willing to pay?" I see the spreadsheet guys submitting offer after offer on properties. Usually, after the third or fourth offer and there is and still no deal, they start to get frustrated. They wonder why the sellers can't see or understand the data. They wonder what their agents are doing wrong and they wonder why they can't get the house they want at the price they want to pay.
Just about this time, their better half steps up and says, "Ok, enough of the low offers. I want a house and I want this process to be over. I am tired of looking at homes." They make a more reasonable offer on the next house. There is some dialogue between the buyer and seller and then there is a compromise. The house is under contract, it closes and then they move in.
The key to remember for the spreadsheet buyer is not who won, lost, or who got the best deal. It's simply this: Did you get the house you really like, will really enjoy, be very happy in, and did you get it for a fair price? The deal always comes down to what a seller is willing to sell for and what is a buyer willing to pay. Make the compromise.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
There is nothing wrong with that. In fact, I love an educated buyer. It makes my job so much easier. The only issue we run into is that very rarely does that sale pan out just like the spreadsheet guy planned. All the home work, studying and analyzing is great, but at the end of the day, the sale boils down to one thing, "What is a seller willing to sell for and what is a buyer willing to pay?" I see the spreadsheet guys submitting offer after offer on properties. Usually, after the third or fourth offer and there is and still no deal, they start to get frustrated. They wonder why the sellers can't see or understand the data. They wonder what their agents are doing wrong and they wonder why they can't get the house they want at the price they want to pay.
Just about this time, their better half steps up and says, "Ok, enough of the low offers. I want a house and I want this process to be over. I am tired of looking at homes." They make a more reasonable offer on the next house. There is some dialogue between the buyer and seller and then there is a compromise. The house is under contract, it closes and then they move in.
The key to remember for the spreadsheet buyer is not who won, lost, or who got the best deal. It's simply this: Did you get the house you really like, will really enjoy, be very happy in, and did you get it for a fair price? The deal always comes down to what a seller is willing to sell for and what is a buyer willing to pay. Make the compromise.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, October 20, 2011
Read "Average mortgage rate jumps up....
Read "Average mortgage rate jumps up. Why average mortgage rates are worthless!" at http://ow.ly/73wwQ
Read "Average mortgage rate jumps up....
Read "Average mortgage rate jumps up. Why average mortgage rates are worthless!" at http://ow.ly/73wwQ
Read "Average mortgage rate jumps up....
Read "Average mortgage rate jumps up. Why average mortgage rates are worthless!" at http://ow.ly/73wwQ
Average mortgage rate jumps up. Why average mortgage rates are worthless!
Freddie Mac reported last week that the average on the 30-year fixed mortgage rose sharply from 3.94% to 4.12%, which according to the National Bureau of Economic Research was the lowest rate ever.
When looking at this rate it is important to remember that it is an AVERAGE rate. If we measured two people, and one person was 5 feet 8 inches tall and weighed 150 pounds and the other person was 6 feet 4 inches tall and weighed 260 pounds, the average height and weight would be six feet and 205 pounds. Clearly, while this average is accurate, it is worthless. The same thing applies to mortgages. Loan amount, purpose and type of a mortgage, loan to value, CREDIT SCORE, etc. are some of the many factors that determine the final interest rate. Two of the loans I closed last month illustrate this perfectly. While both loans were thirty year fixed rate mortgages, one loan was at 3.75% and the other loan was at 4.25%. Which client got a better deal? Both of them. The 3.75% loan was an FHA purchase for $360,000, and the other mortgage was a $200,00 VA refinance. The FHA borrower was not a veteran, and the VA loan was a superior option for the veteran who wanted to refinance over a FHA mortgage.
While the VA borrower could have received a 3.75% mortgage, he wisely figured that paying an additional $4,200 in closing costs to save $58 per month did not make sense. Each borrower had the best mortgage for their unique personal situation. Always remember that rate is irrelevant. Rate PLUS fees are what matters. The annual percentage rate (APR) is defined as a total of all costs imposed on the borrower to obtain a loan. A borrower should always focus on the APR, and not just the rate on the mortgage. When I went shopping last week for new tires, the base price of the tires did not matter. What mattered was the final price I would incur for four tires. The company that had the lowest initial price per tire had the highest price when mounting and balance, disposal of old tires, etc, was included. This reminded me of the sleazy practice of baiting a borrower in with a low rate and then pounding them with fees.
Next week: What is the "Ratchet Effect"?
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
When looking at this rate it is important to remember that it is an AVERAGE rate. If we measured two people, and one person was 5 feet 8 inches tall and weighed 150 pounds and the other person was 6 feet 4 inches tall and weighed 260 pounds, the average height and weight would be six feet and 205 pounds. Clearly, while this average is accurate, it is worthless. The same thing applies to mortgages. Loan amount, purpose and type of a mortgage, loan to value, CREDIT SCORE, etc. are some of the many factors that determine the final interest rate. Two of the loans I closed last month illustrate this perfectly. While both loans were thirty year fixed rate mortgages, one loan was at 3.75% and the other loan was at 4.25%. Which client got a better deal? Both of them. The 3.75% loan was an FHA purchase for $360,000, and the other mortgage was a $200,00 VA refinance. The FHA borrower was not a veteran, and the VA loan was a superior option for the veteran who wanted to refinance over a FHA mortgage.
While the VA borrower could have received a 3.75% mortgage, he wisely figured that paying an additional $4,200 in closing costs to save $58 per month did not make sense. Each borrower had the best mortgage for their unique personal situation. Always remember that rate is irrelevant. Rate PLUS fees are what matters. The annual percentage rate (APR) is defined as a total of all costs imposed on the borrower to obtain a loan. A borrower should always focus on the APR, and not just the rate on the mortgage. When I went shopping last week for new tires, the base price of the tires did not matter. What mattered was the final price I would incur for four tires. The company that had the lowest initial price per tire had the highest price when mounting and balance, disposal of old tires, etc, was included. This reminded me of the sleazy practice of baiting a borrower in with a low rate and then pounding them with fees.
Next week: What is the "Ratchet Effect"?
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Wednesday, October 19, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Landmark Theater" at http://ow.ly/72hXS
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Landmark Theater" at http://ow.ly/72hXS
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Landmark Theater" at http://ow.ly/72hXS
Yelp Review for the week - Landmark Theater
This week we are going to see Yelp reviews of Landmark Theater, situated at 5415 Landmark Place, Greenwood Village, CO 80111. Few of the top reviews are given below:
Ken, from Denver, CO says, "Free popcorn and soda with admission. Steep stadium seating so there isn't a bad seat in the house. For a few dollars more (VIP) you get: upgraded seating, popcorn & soda delivered to your seat, waiter service, and the best part...access to the VIP bathrooms (that feature is simply strange, but true)."
Andrea, from Denver, CO says, "I absolutely love this theatre. In fact, I refuse to watch a movie anywhere else. (Well, almost refuse.) Yes it's a little more expensive than the average theatre, but for the most comfortable chairs available, never any screaming children or loud teenagers, unlimited popcorn and soft drinks, an available bar?? Yes, I think I'll pay the extra $3. I came here most recently yesterday to see Super 8. Another terrific experience (good movie, too). I love that you can buy your tickets online or at a kiosk if there is a line and it even tells you how full the theatre is. It's definitely the place to go if you're looking to enjoy your cinema experience!"
Tres, from Denver, CO says, "Fantastic theater! We saw the ribald "Cedar Rapids" here and the theater was posh, super clean and the concessions were very reasonably priced compared to many others. This is expensive real estate, but somehow Landmark manages to keep their prices fair."
Ken, from Denver, CO says, "Free popcorn and soda with admission. Steep stadium seating so there isn't a bad seat in the house. For a few dollars more (VIP) you get: upgraded seating, popcorn & soda delivered to your seat, waiter service, and the best part...access to the VIP bathrooms (that feature is simply strange, but true)."
Andrea, from Denver, CO says, "I absolutely love this theatre. In fact, I refuse to watch a movie anywhere else. (Well, almost refuse.) Yes it's a little more expensive than the average theatre, but for the most comfortable chairs available, never any screaming children or loud teenagers, unlimited popcorn and soft drinks, an available bar?? Yes, I think I'll pay the extra $3. I came here most recently yesterday to see Super 8. Another terrific experience (good movie, too). I love that you can buy your tickets online or at a kiosk if there is a line and it even tells you how full the theatre is. It's definitely the place to go if you're looking to enjoy your cinema experience!"
Tres, from Denver, CO says, "Fantastic theater! We saw the ribald "Cedar Rapids" here and the theater was posh, super clean and the concessions were very reasonably priced compared to many others. This is expensive real estate, but somehow Landmark manages to keep their prices fair."
Tuesday, October 18, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "This Year's Summer Trends" at http://ow.ly/70WWT
Check out my latest real estate colum...
Check out my latest real estate column titled "This Year's Summer Trends" at http://ow.ly/70WWT
Check out my latest real estate colum...
Check out my latest real estate column titled "This Year's Summer Trends" at http://ow.ly/70WWT
This Year's Summer Trends. By Dan Polimino.
There is no question that Denver enjoyed a good summer selling season. The combination of low inventory, good prices, low interest rates, and pent up buyer demand has most brokerage firms well ahead of last year's numbers. Even the luxury market made good in roads at moving product and reducing inventory.
If you look at the data from Metrolist this summer, you'll see that the sweet spot in the luxury market was 1 million to 1.5 million dollars. That is the bandwidth where the majority of sales occurred. When you get over 1.5 million dollars, you see fewer and fewer sales and when you get over two million dollars, it really gets quiet. What does that suggest about buyers?
I think one can conclude the following:
A) The reason why the 1 million to 1.5 million dollars is moving is because the buyers in that price range tend to be corporate vice presidents, directors, and those belonging to senior management. This mid to high-level job has a pay scale associated with it that would enable someone to buy a one-million-dollar home. This is also a very active position, meaning, companies are frequently adding and subtracting people in this category. That means a lot of buying and selling of homes in this price range.
B) The buyers for two million dollars and up usually are CEOs, COOs Chairmen of the Board, or high-level entrepreneurs. The activity in this job sector is not very active and most likely will not be very active anytime soon, which is why homes over two million dollars can be on the market for a very long time.
C) Some homes over two million dollars like those in the mountain properties were most likely second homes. The second home market has been extremely slow for the last few years but we did see a pick up in sales there as well this summer. A lot of the deals being snapped up in the second home market were foreclosures or deals that were just too hard to pass up. That's ok because the inventory needs to be absorbed so we can get to stable pricing.
In conclusion, if I had to rub my crystal ball for the rest of the year in the luxury market, I would say that the 1-1.5 million dollars bandwidth will continue to lead all luxury sales. Special situation foreclosures like a nine-million-dollar home for 3.5 million dollars will sell, and private sellers with equity that just want out will continue to move. Happy shopping.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
If you look at the data from Metrolist this summer, you'll see that the sweet spot in the luxury market was 1 million to 1.5 million dollars. That is the bandwidth where the majority of sales occurred. When you get over 1.5 million dollars, you see fewer and fewer sales and when you get over two million dollars, it really gets quiet. What does that suggest about buyers?
I think one can conclude the following:
A) The reason why the 1 million to 1.5 million dollars is moving is because the buyers in that price range tend to be corporate vice presidents, directors, and those belonging to senior management. This mid to high-level job has a pay scale associated with it that would enable someone to buy a one-million-dollar home. This is also a very active position, meaning, companies are frequently adding and subtracting people in this category. That means a lot of buying and selling of homes in this price range.
B) The buyers for two million dollars and up usually are CEOs, COOs Chairmen of the Board, or high-level entrepreneurs. The activity in this job sector is not very active and most likely will not be very active anytime soon, which is why homes over two million dollars can be on the market for a very long time.
C) Some homes over two million dollars like those in the mountain properties were most likely second homes. The second home market has been extremely slow for the last few years but we did see a pick up in sales there as well this summer. A lot of the deals being snapped up in the second home market were foreclosures or deals that were just too hard to pass up. That's ok because the inventory needs to be absorbed so we can get to stable pricing.
In conclusion, if I had to rub my crystal ball for the rest of the year in the luxury market, I would say that the 1-1.5 million dollars bandwidth will continue to lead all luxury sales. Special situation foreclosures like a nine-million-dollar home for 3.5 million dollars will sell, and private sellers with equity that just want out will continue to move. Happy shopping.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, October 14, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Denver Patio Ride" at http://ow.ly/6XALJ
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Denver Patio Ride" at http://ow.ly/6XALJ
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Denver Patio Ride" at http://ow.ly/6XALJ
Yelp Review for the week - Denver Patio Ride
This week we are going to see Yelp reviews of Denver Patio Ride, situated at 1368 26th St., Denver, CO 80205. Few of the top reviews are given below:
Terry, from Denver, CO says, "Maybe the BEST Time I've ever had on a bicycle--built for 20 people!! DENVER PATIO RIDE= AWESOME period. Never heard of it? Sad! Watch my YouTube video: http://bit.ly/oPf8ha Thanks to Denver Yelp Coordinatrix Tiffany, the Denver Patio Ride staff and ALL the AWESOME Denver Yelpers who showed up in Grand style last Sunday. TRY IT OUT!!"
Jordan P, from Denver, CO says, "By far one of the best things I have done in Denver so far!!!! Nick and Molly were AWESOME!!! We opted to drink and pedal versus stopping at a lot of bars and had the best time! The time went by way too quickly and all of us were hoping the next group would cancel (it was raining) so that we could buy their slot! I highly recommend this - and make sure you book THIS patio ride as there is a copycat out there and I haven't heard great things about their ride. Specifics: 10 people pedal, 5 people sit. Molly was our "bartender" and was fantastic! She does work for tips - and deserved every one of ours. Bring your iPod as they can hook it in to their system. They will pretty much go wherever you want to in the LoDo/RiNo area. Or you can just opt to stay on the bike. A must-do!!!"
Heidi, from Denver, CO says, "To be honest, I was a little skeptical about this. It seemed expensive, and I wasn't sure how much fun pedaling around Denver could be. I was pleasantly surprised. Our guides, Molly and Maggie, were great and it was definitely a customizable tour. The customer service was topnotch and the drinks were great. I know my friends and I had a good time celebrating birthdays and I'd definitely recommend it to anyone looking for a unique and different way to celebrate any occasion. I'd definitely do it again!"
Terry, from Denver, CO says, "Maybe the BEST Time I've ever had on a bicycle--built for 20 people!! DENVER PATIO RIDE= AWESOME period. Never heard of it? Sad! Watch my YouTube video: http://bit.ly/oPf8ha Thanks to Denver Yelp Coordinatrix Tiffany, the Denver Patio Ride staff and ALL the AWESOME Denver Yelpers who showed up in Grand style last Sunday. TRY IT OUT!!"
Jordan P, from Denver, CO says, "By far one of the best things I have done in Denver so far!!!! Nick and Molly were AWESOME!!! We opted to drink and pedal versus stopping at a lot of bars and had the best time! The time went by way too quickly and all of us were hoping the next group would cancel (it was raining) so that we could buy their slot! I highly recommend this - and make sure you book THIS patio ride as there is a copycat out there and I haven't heard great things about their ride. Specifics: 10 people pedal, 5 people sit. Molly was our "bartender" and was fantastic! She does work for tips - and deserved every one of ours. Bring your iPod as they can hook it in to their system. They will pretty much go wherever you want to in the LoDo/RiNo area. Or you can just opt to stay on the bike. A must-do!!!"
Heidi, from Denver, CO says, "To be honest, I was a little skeptical about this. It seemed expensive, and I wasn't sure how much fun pedaling around Denver could be. I was pleasantly surprised. Our guides, Molly and Maggie, were great and it was definitely a customizable tour. The customer service was topnotch and the drinks were great. I know my friends and I had a good time celebrating birthdays and I'd definitely recommend it to anyone looking for a unique and different way to celebrate any occasion. I'd definitely do it again!"
Thursday, October 13, 2011
Read "VA Funding Fee update October 6...
Read "VA Funding Fee update October 6, 2011" at http://ow.ly/6WeYt
Read "VA Funding Fee update October 6...
Read "VA Funding Fee update October 6, 2011" at http://ow.ly/6WeYt
Read "VA Funding Fee update October 6...
Read "VA Funding Fee update October 6, 2011" at http://ow.ly/6WeYt
VA Funding Fee update October 6, 2011
In many areas of life today, the only constant is change. This is especially true in the mortgage industry. Nothing like moving the goal posts during a game to keep make things exciting. Here is the latest update on VA Funding fees.
The White House announced yesterday that the President signed H.R. 2646: Veterans Health Care Facilities Capital Improvement Act of 2011, which reverts the Veterans Affairs Funding Fees back to the higher pre-October 1st percentages. The reduced VA Funding Fee schedule, in Circular 26-11-12, would apply for a very short period of time, theoretically for loans that closed during October 1 through October 4. VA is expected to provide guidance on the exact validity period for the reduced VA Funding Fee set forth in Circular 26-11-12, but it is likely that the guidance will come first via the VA Funding Fee payment process. Please note that the VA Funding Fee is scheduled to change again for certain loans on or after November 18, 2011.
Hopefully, the Funding Fee for veterans with a service related disability will remain at zero. Will advise when I know more about upcoming changes. Maybe we will get lucky and the new policy will last longer than four days.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
The White House announced yesterday that the President signed H.R. 2646: Veterans Health Care Facilities Capital Improvement Act of 2011, which reverts the Veterans Affairs Funding Fees back to the higher pre-October 1st percentages. The reduced VA Funding Fee schedule, in Circular 26-11-12, would apply for a very short period of time, theoretically for loans that closed during October 1 through October 4. VA is expected to provide guidance on the exact validity period for the reduced VA Funding Fee set forth in Circular 26-11-12, but it is likely that the guidance will come first via the VA Funding Fee payment process. Please note that the VA Funding Fee is scheduled to change again for certain loans on or after November 18, 2011.
Hopefully, the Funding Fee for veterans with a service related disability will remain at zero. Will advise when I know more about upcoming changes. Maybe we will get lucky and the new policy will last longer than four days.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change. http://ping.fm/hspll
Wednesday, October 12, 2011
Watch this Stunning Mountain Home at ...
Watch this Stunning Mountain Home at Conifer, CO at http://ow.ly/6Vely
Watch this Stunning Mountain Home at ...
Watch this Stunning Mountain Home at Conifer, CO at http://ow.ly/6Vely
Watch this Stunning Mountain Home at ...
Watch this Stunning Mountain Home at Conifer, CO at http://ow.ly/6Vely
Tuesday, October 11, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Absorption Rate Pricing" at http://ow.ly/6TMGn
Check out my latest real estate colum...
Check out my latest real estate column titled "Absorption Rate Pricing" at http://ow.ly/6TMGn
Check out my latest real estate colum...
Check out my latest real estate column titled "Absorption Rate Pricing" at http://ow.ly/6TMGn
Absorption Rate Pricing. By Dan Polimino.
What is absorption rate pricing? Here is a quick definition: Absorption rate pricing answers the question, "How many months will it take to sell all the homes in my area at the current rate?" If the answer is a high number, the seller better be ready to price their home aggressively and ahead of the competition, or plan on it sitting until other homes are bought up ahead of theirs.
To figure out the absorption rate of homes selling in your neighborhood, all you need is a simple equation. First, find out the total number of active listings (homes currently for sale) and the total number of homes that sold over a specific period of time, like six months. Then divide the total sales by six to arrive at the average number of sales per month. Finally, divide the total number of active listings by the average number of sales per month and viola, you get the absorption rate. This number tells how long it will take to sell the current inventory in your area. This equation cannot take into account any new homes that may come on the market and it assumes that all conditions are the same. It also cannot look to see if all the homes are truly equal in every way.
When I first got into real estate, everyone would supply a CMA or comparative market analysis. This was a good way to price home. I am going out on a limb here as suggesting this is no longer enough and certainly not adequate. I stopped doing CMAs a while ago because they just were not telling the real picture. Given the economy and real estate conditions, absorption rate pricing is a much better determiner of what a home should be priced at and how long it will take to sell. After all, isn't that what everyone who is selling a home wants know...what price and how long. So next time you are thinking about selling your home and you are meeting with an agent, know enough not to accept just a comparative market analysis. Ask for absorption rate pricing and get your home sold faster.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
To figure out the absorption rate of homes selling in your neighborhood, all you need is a simple equation. First, find out the total number of active listings (homes currently for sale) and the total number of homes that sold over a specific period of time, like six months. Then divide the total sales by six to arrive at the average number of sales per month. Finally, divide the total number of active listings by the average number of sales per month and viola, you get the absorption rate. This number tells how long it will take to sell the current inventory in your area. This equation cannot take into account any new homes that may come on the market and it assumes that all conditions are the same. It also cannot look to see if all the homes are truly equal in every way.
When I first got into real estate, everyone would supply a CMA or comparative market analysis. This was a good way to price home. I am going out on a limb here as suggesting this is no longer enough and certainly not adequate. I stopped doing CMAs a while ago because they just were not telling the real picture. Given the economy and real estate conditions, absorption rate pricing is a much better determiner of what a home should be priced at and how long it will take to sell. After all, isn't that what everyone who is selling a home wants know...what price and how long. So next time you are thinking about selling your home and you are meeting with an agent, know enough not to accept just a comparative market analysis. Ask for absorption rate pricing and get your home sold faster.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Saturday, October 8, 2011
I think this may be on the earliest s...
I think this may be on the earliest snow falls we have ever had in Denver, Oct 8th and over an inch on the ground. Did I mention I hate snow
Friday, October 7, 2011
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Organic French Bakery at Highlands Ranch" http://ow.ly/6Qs1i
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Organic French Bakery at Highlands Ranch" http://ow.ly/6Qs1i
Check out "Yelp Review for the week -...
Check out "Yelp Review for the week - Organic French Bakery at Highlands Ranch" http://ow.ly/6Qs1i
Yelp Review for the week - Organic French Bakery at Highlands Ranch
This week we are going to see Yelp reviews of Pierre Michel Organic French Bakery Café, situated at 3624 E Highlands Ranch Pkwy, Highlands Ranch, CO 80126. Few of the top reviews are given below:
Karli, from Highlands Ranch, CO says, "I almost hate to write another glowing review (for fear that I will no longer be able to get my Saturday morning Croc Madame) but I want to share the deliciousness with the world. This place is a-mazing! The coffee is strong and rich, the pastries are light and flaky, the service is French! The Croc Madame is wonderful, any of the pastries are a good choice. We really like the salted butter croissant. You might see me there on Saturday mornings!"
Jeetu, from Austin, TX says, "Wow wow wow. Never seen a better bakery in North America. Totally impressed. Organic and fresh every day, doesn't get better than that, with the nicest most authentic service."
Ava, from Littleton, CO says, Oh my gosh! This place is fabulous. I have yet to have something I don't love. Everything is always fresh and so tasty that the frequently run out of their popular items. The place just makes me miss Paris, but it truly is the next best thing. If I thought it wouldn't hit my waistline I'd go by here every day. Love love love it!
Karli, from Highlands Ranch, CO says, "I almost hate to write another glowing review (for fear that I will no longer be able to get my Saturday morning Croc Madame) but I want to share the deliciousness with the world. This place is a-mazing! The coffee is strong and rich, the pastries are light and flaky, the service is French! The Croc Madame is wonderful, any of the pastries are a good choice. We really like the salted butter croissant. You might see me there on Saturday mornings!"
Jeetu, from Austin, TX says, "Wow wow wow. Never seen a better bakery in North America. Totally impressed. Organic and fresh every day, doesn't get better than that, with the nicest most authentic service."
Ava, from Littleton, CO says, Oh my gosh! This place is fabulous. I have yet to have something I don't love. Everything is always fresh and so tasty that the frequently run out of their popular items. The place just makes me miss Paris, but it truly is the next best thing. If I thought it wouldn't hit my waistline I'd go by here every day. Love love love it!
Thursday, October 6, 2011
Read "Will your VA purchase deal clos...
Read "Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change." at http://ow.ly/6PlRW
Read "Will your VA purchase deal clos...
Read "Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change." at http://ow.ly/6PlRW
Read "Will your VA purchase deal clos...
Read "Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change." at http://ow.ly/6PlRW
Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change.
In a memo released late last week, VA announced the new funding fees are on hold until further notice. This means that lenders who had complied with the anticipated changes for closings after October 1, 2011, will now have to redisclose these changes on the GFE and TIL. If the rate on the Truth in Lending (TIL) disclosure changes more than 1/8 of a percent, borrowers will have to re-sign documents and wait three days. VA buyers who are exempt from the funding fee due to a service related disability are not affected by this. Under either scenario, the funding fee for veterans with a service related disability is zero.
I analyzed several hypothetical VA loans and did not find any examples where this change would trigger the need for a new TIL. However, as always, your mortgage professional should check the numbers to see what applies to your unique situation.
As of today at 1:30 PM (MDT) I have not seen any clarification on this. I will advise ASAP when I do.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
I analyzed several hypothetical VA loans and did not find any examples where this change would trigger the need for a new TIL. However, as always, your mortgage professional should check the numbers to see what applies to your unique situation.
As of today at 1:30 PM (MDT) I have not seen any clarification on this. I will advise ASAP when I do.
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Loanchip@hotmail.com
Colorado Mortgage Broker License # 100019831
NMLS# 378621
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change. http://ping.fm/Be1MV
Will your VA purchase deal close on time? VA reverses position on Oct 1 funding fee change. http://ping.fm/t4iF5
Wednesday, October 5, 2011
Watch "One-of-a-kind Mountain Retreat...
Watch "One-of-a-kind Mountain Retreat at Evergreen, Colorado" at http://ow.ly/6OkOl
Watch "One-of-a-kind Mountain Retreat...
Watch "One-of-a-kind Mountain Retreat at Evergreen, Colorado" at http://ow.ly/6OkOl
Watch "One-of-a-kind Mountain Retreat...
Watch "One-of-a-kind Mountain Retreat at Evergreen, Colorado" at http://ow.ly/6OkOl
Tuesday, October 4, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "I Don't Have To Sell" at http://ow.ly/6N2WY
Check out my latest real estate colum...
Check out my latest real estate column titled "I Don't Have To Sell" at http://ow.ly/6N2WY
Check out my latest real estate colum...
Check out my latest real estate column titled "I Don't Have To Sell" at http://ow.ly/6N2WY
I Don't Have To Sell. By Dan Polimino.
Many times, I would go on a listing appointment to talk with a potential seller and they would tell at the end of the presentation, "Well, I really don't have to sell!" Which then prompts my response of, "So why are you putting your home on the market?" After all, selling a home and keeping it in constant show-ready condition is not a lot of fun and usually requires a lot of work and patience. The sellers go on to say, "If I can get my price, I would sell the home." If you want me to translate this last sentence for you, I will. It means the following from the seller: "I am going to ignore good data about the price of my home, overprice it, and let it sit on the market until I get what I want for it." That is a recipe for disaster for everyone involved.
When I represent buyers and I submit offers to the listing agents, I often hear from the listing agent that the seller did not accept the offer. I go on to discuss with the listing agent why we think it's a fair offer. Then lo and behold, the famous sentence comes out, "Well, my sellers really don't have to sell." I then say to the agent, "Well, maybe they should take their home off the market."
You see, the days of some fairy tale buyer walking off the street and overpaying for a home stopped about five years ago. Buyers know exactly what a home is worth and in some cases, put in fair offers. Sellers cannot fall back on the old "I don't have to sell" excuse anymore because that market does not exist. If a seller really doesn’t have to sell, they should not have their home listed. By overpricing the home, it ensures that it will sit and accumulate days on the market which hurts the seller and the marketability of the home. The listing agent will be frustrated because they can't sell it, and buying agents will stop showing it because they'll realize that the seller will not look at a reasonable offer. The end result may be a seller chasing down the market and being forced to do a series of price drops or take the home off the market. In either case, it ends up being an exercise in futility for everyone involved.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
When I represent buyers and I submit offers to the listing agents, I often hear from the listing agent that the seller did not accept the offer. I go on to discuss with the listing agent why we think it's a fair offer. Then lo and behold, the famous sentence comes out, "Well, my sellers really don't have to sell." I then say to the agent, "Well, maybe they should take their home off the market."
You see, the days of some fairy tale buyer walking off the street and overpaying for a home stopped about five years ago. Buyers know exactly what a home is worth and in some cases, put in fair offers. Sellers cannot fall back on the old "I don't have to sell" excuse anymore because that market does not exist. If a seller really doesn’t have to sell, they should not have their home listed. By overpricing the home, it ensures that it will sit and accumulate days on the market which hurts the seller and the marketability of the home. The listing agent will be frustrated because they can't sell it, and buying agents will stop showing it because they'll realize that the seller will not look at a reasonable offer. The end result may be a seller chasing down the market and being forced to do a series of price drops or take the home off the market. In either case, it ends up being an exercise in futility for everyone involved.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, September 28, 2011
Watch this home video titled "81 Marm...
Watch this home video titled "81 Marmot Lane, Grand Lake, CO" at http://ow.ly/6HjHv
Watch this home video titled "81 Marm...
Watch this home video titled "81 Marmot Lane, Grand Lake, CO" at http://ow.ly/6HjHv
Watch this home video titled "81 Marm...
Watch this home video titled "81 Marmot Lane, Grand Lake, CO" at http://ow.ly/6HjHv
Tuesday, September 27, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "George and Adele Made My Day" at http://ow.ly/6G87B
Check out my latest real estate colum...
Check out my latest real estate column titled "George and Adele Made My Day" at http://ow.ly/6G87B
Check out my latest real estate colum...
Check out my latest real estate column titled "George and Adele Made My Day" at http://ow.ly/6G87B
George and Adele Made My Day. By Dan Polimino.
I don't have to tell you that the real estate business has been tough in the last few years. Many of you may not know this, but more and more buyers and sellers aren't even at the same closing table anymore. The deals can be so contentious and mean spirited that buyers and sellers don't even want to be in the same room when the time comes to seal the deal and transfer the title. I have started to become accustomed to it; I am numb to it and sometimes, I even expect it. Then George and Adele made my day.
It was a simple closing on a warm summer day for a modest home in Denver that was built in 1964. I was representing the buyers, a young couple looking to update the home where they will continue building their young family. When I walked into the closing, there sat George and Adele, 15 minutes early for the selling of their home. I took the opportunity to start conversing with what seemed to be a lovely older couple before anyone else arrived. To steal a line from the movie Jerry McGuire, George and Adele had me at "hello." They seemed like they were in their late 70's or early 80's and I just about fell off the chair when they told me that George was 90 and Adele was 91. They were both sharp as a tack, still driving, and still leading a very active life. For the next hour, George threw out the one-liners and entertained me with stories of living in that home on Wabash for almost 50 years. They raised four girls in that home and their youngest (George called her the baby) had just turned 60 and had retired. George wanted to take his last breath in the house, but the stairs were too tough to handle anymore. They decided to move to a retirement community where, as George says, "everything is on one level." George says he doesn't have to shovel snow anymore or cut the lawn. At which Adele quipped, "You didn't do that when you lived at the house." I felt like I was watching an old George Burns/Gracie Allen bit.
At last, it was time to hand over the keys as the transaction was done. I don't know who was sadder when the closing was over - them or me. I wanted George and Adele to keep telling me stories for a few more hours. As we said goodbye, you could tell by the look in their eyes how much they loved that home, how much it meant to them and how many memories they will always have in that home.
That was a good day.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
It was a simple closing on a warm summer day for a modest home in Denver that was built in 1964. I was representing the buyers, a young couple looking to update the home where they will continue building their young family. When I walked into the closing, there sat George and Adele, 15 minutes early for the selling of their home. I took the opportunity to start conversing with what seemed to be a lovely older couple before anyone else arrived. To steal a line from the movie Jerry McGuire, George and Adele had me at "hello." They seemed like they were in their late 70's or early 80's and I just about fell off the chair when they told me that George was 90 and Adele was 91. They were both sharp as a tack, still driving, and still leading a very active life. For the next hour, George threw out the one-liners and entertained me with stories of living in that home on Wabash for almost 50 years. They raised four girls in that home and their youngest (George called her the baby) had just turned 60 and had retired. George wanted to take his last breath in the house, but the stairs were too tough to handle anymore. They decided to move to a retirement community where, as George says, "everything is on one level." George says he doesn't have to shovel snow anymore or cut the lawn. At which Adele quipped, "You didn't do that when you lived at the house." I felt like I was watching an old George Burns/Gracie Allen bit.
At last, it was time to hand over the keys as the transaction was done. I don't know who was sadder when the closing was over - them or me. I wanted George and Adele to keep telling me stories for a few more hours. As we said goodbye, you could tell by the look in their eyes how much they loved that home, how much it meant to them and how many memories they will always have in that home.
That was a good day.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, September 22, 2011
Read "VA Funding fees going down Octo...
Read "VA Funding fees going down October 1 & why a down payment on a VA loan makes sense" at http://ow.ly/6BWYd
Read "VA Funding fees going down Octo...
Read "VA Funding fees going down October 1 & why a down payment on a VA loan makes sense" at http://ow.ly/6BWYd
Read "VA Funding fees going down Octo...
Read "VA Funding fees going down October 1 & why a down payment on a VA loan makes sense" at http://ow.ly/6BWYd
VA Funding fees going down October 1 & why a down payment on a VA loan makes sense http://ping.fm/zDjGR
VA Funding fees going down October 1 & why a down payment on a VA loan makes sense http://ping.fm/Trd54
Wednesday, September 21, 2011
Watch this video titled "New Investor...
Watch this video titled "New Investor Owner. They're ready to make a deal." at http://ow.ly/6AL2J
Watch this video titled "New Investor...
Watch this video titled "New Investor Owner. They're ready to make a deal." at http://ow.ly/6AL2J
Watch this video titled "New Investor...
Watch this video titled "New Investor Owner. They're ready to make a deal." at http://ow.ly/6AL2J
Tuesday, September 20, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Apparently, You Do Know A Good Contractor!" at http://ow.ly/6zGCl
Check out my latest real estate colum...
Check out my latest real estate column titled "Apparently, You Do Know A Good Contractor!" at http://ow.ly/6zGCl
Check out my latest real estate colum...
Check out my latest real estate column titled "Apparently, You Do Know A Good Contractor!" at http://ow.ly/6zGCl
Apparently, You Do Know A Good Contractor! By Dan Polimino.
All I can say is, "WOW"... in response to last week's column about my trials in finding a good contractor. I asked the question, "If you are a good contractor, tell me how we find you?" and the readers of this column responded with an overwhelming number of emails. So many, that I stopped counting and it took me several days to respond to them all. It is my personal policy to respond to everyone who writes me. I think I replied to everyone, but if I missed your email for some reason, please accept my apology and re-send it. There were even some folks who went to my website www.coloradodreamhouse.com, tracked down my phone number, and called me. Which is perfectly ok! Feel free to call me anytime. I am never too busy to help.
The emails and phone calls were fantastic. Some people sent me stories of remodeling projects gone badly. Others sent me glowing testimonials on why they love their tile guy. I had referrals for handy men, flooring people, tile people, roofers, custom builders, electricians, plumbers, landscapers, and everything in between. The good news is that I have so many good references now that I could start my own Angie's list. If you need a reference on a good contractor, just call me and I'll forward one of these many email testimonials.
It was so refreshing to hear some people say, "Dan, I would love to work with you and earn your business." I almost never hear those words anymore and it gave me great confidence again that there are people who are working hard and doing business the right way. It was also great to see the power of people. Just by taking the time to send an email recommending a friend, a colleague, a co-worker, or your husband (the handyman) shows what terrific, hard working people we have in this country.
They say that hindsight is 20/20 and had I known the sheer volume of responses I would receive to the question, "If you are a good contractor, tell me how I find you," I would have changed it to, "DOES ANYONE NEED TO BUY A HOUSE? TELL ME HOW I FIND YOU."
Thanks again and have a great weekend.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
The emails and phone calls were fantastic. Some people sent me stories of remodeling projects gone badly. Others sent me glowing testimonials on why they love their tile guy. I had referrals for handy men, flooring people, tile people, roofers, custom builders, electricians, plumbers, landscapers, and everything in between. The good news is that I have so many good references now that I could start my own Angie's list. If you need a reference on a good contractor, just call me and I'll forward one of these many email testimonials.
It was so refreshing to hear some people say, "Dan, I would love to work with you and earn your business." I almost never hear those words anymore and it gave me great confidence again that there are people who are working hard and doing business the right way. It was also great to see the power of people. Just by taking the time to send an email recommending a friend, a colleague, a co-worker, or your husband (the handyman) shows what terrific, hard working people we have in this country.
They say that hindsight is 20/20 and had I known the sheer volume of responses I would receive to the question, "If you are a good contractor, tell me how I find you," I would have changed it to, "DOES ANYONE NEED TO BUY A HOUSE? TELL ME HOW I FIND YOU."
Thanks again and have a great weekend.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
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