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
Wednesday, September 14, 2011
Check out Denver Real Estate Weekly M...
Check out Denver Real Estate Weekly Market Update titled "The Forecast Looks Good For This Fall's Real Estate" at http://ow.ly/6u8sY
Check out Denver Real Estate Weekly M...
Check out Denver Real Estate Weekly Market Update titled "The Forecast Looks Good For This Fall's Real Estate" at http://ow.ly/6u8sY
Check out Denver Real Estate Weekly M...
Check out Denver Real Estate Weekly Market Update titled "The Forecast Looks Good For This Fall's Real Estate" at http://ow.ly/6u8sY
Tuesday, September 13, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Consumers Deserve Better" at http://ow.ly/6t0f9
Check out my latest real estate colum...
Check out my latest real estate column titled "Consumers Deserve Better" at http://ow.ly/6t0f9
Check out my latest real estate colum...
Check out my latest real estate column titled "Consumers Deserve Better" at http://ow.ly/6t0f9
Consumers Deserve Better. By Dan Polimino.
Chances are, if you have been in the real estate market over the last four years, you would have looked at a foreclosure, bid on a foreclosure, bought a foreclosure or know someone who has. You may also know that the buying process of an REO ("Real Estate Owned: aka: foreclosure) can be exasperating for all parties.
I have represented more than my fair share of clients that have struggled with the process, including getting a response from the REO Broker, not the bank, but the Broker who is representing the bank and the asset. REO agents are Brokers that specialize in foreclosed properties. This has become big business for these Brokers over the last 5-6 years. These Brokers solicit foreclosed listings from banks and third party asset management companies. It's not unusual for an REO Broker to have over 100 REO listings at one time. As such, we have seen a real deterioration in service from many REO Brokers. Now, let me say at the outset that I know many fine REO Brokers and have had a pleasant experience with a few. However, in recent months, I have been hearing more and more complaints about how REO Brokers are handling their business. The complaints from consumers and other Brokers go something like this:
* The listing Broker never returned a single phone call or email.
* When I did get through, I could only speak with an assistant and never with the Broker.
* I couldn't get any information about the property, the status, or the bank before I made an offer.
* The Broker didn't follow the procedures and process the paperwork through to the bank.
* They did not get back with me in a timely fashion.
* They only care about how many offers they get.
Some of these complaints are valid and again I want to reiterate that there are many fine REO Brokers doing business the right way, but I am sorry to say it's not the vast majority.
The question I get more than anything else is, "Can anyone do anything about it?" and the answer is yes, you can. If you are experiencing problems and the REO Broker is unresponsive here is what you can do:
* Call the bank that owns the property and file a complaint against the listing Broker. Your Broker can usually obtain this information for you.
* If you think you have been wronged and have a valid complaint, you can file a grievance about the company or Broker with the Colorado Real Estate Commission.
* You can also file a complaint with the REO Broker's managing Broker.
The bank is the best place to start because if they get enough complaints about a particular Broker, there is a good chance there will be a change or they'll take away his or her business. Consumers and Brokers deserve better and can demand change, but change requires action.
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
I have represented more than my fair share of clients that have struggled with the process, including getting a response from the REO Broker, not the bank, but the Broker who is representing the bank and the asset. REO agents are Brokers that specialize in foreclosed properties. This has become big business for these Brokers over the last 5-6 years. These Brokers solicit foreclosed listings from banks and third party asset management companies. It's not unusual for an REO Broker to have over 100 REO listings at one time. As such, we have seen a real deterioration in service from many REO Brokers. Now, let me say at the outset that I know many fine REO Brokers and have had a pleasant experience with a few. However, in recent months, I have been hearing more and more complaints about how REO Brokers are handling their business. The complaints from consumers and other Brokers go something like this:
* The listing Broker never returned a single phone call or email.
* When I did get through, I could only speak with an assistant and never with the Broker.
* I couldn't get any information about the property, the status, or the bank before I made an offer.
* The Broker didn't follow the procedures and process the paperwork through to the bank.
* They did not get back with me in a timely fashion.
* They only care about how many offers they get.
Some of these complaints are valid and again I want to reiterate that there are many fine REO Brokers doing business the right way, but I am sorry to say it's not the vast majority.
The question I get more than anything else is, "Can anyone do anything about it?" and the answer is yes, you can. If you are experiencing problems and the REO Broker is unresponsive here is what you can do:
* Call the bank that owns the property and file a complaint against the listing Broker. Your Broker can usually obtain this information for you.
* If you think you have been wronged and have a valid complaint, you can file a grievance about the company or Broker with the Colorado Real Estate Commission.
* You can also file a complaint with the REO Broker's managing Broker.
The bank is the best place to start because if they get enough complaints about a particular Broker, there is a good chance there will be a change or they'll take away his or her business. Consumers and Brokers deserve better and can demand change, but change requires action.
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 8, 2011
Read "FHA position on homes impacted ...
Read "FHA position on homes impacted by Meth use or labs" at http://ow.ly/6oU4v
Read "FHA position on homes impacted ...
Read "FHA position on homes impacted by Meth use or labs" at http://ow.ly/6oU4v
Read "FHA position on homes impacted ...
Read "FHA position on homes impacted by Meth use or labs" at http://ow.ly/6oU4v
FHA position on homes impacted by Meth use or labs
One of the many great benefits of working for Crestline Mortgage Bankers, a division of Universal Lending Corporation, based in Denver, Colorado, is the information put out by the underwriting department to help avoid problems on the front end, so the deal does not blow up before closing when it could have been avoided.
"After confirming with two separate sources at the Denver HOC office, we have learned any home, including HUD Repos, which have any evidence of the use of meth or creation of meth or even if a police report has been issued stating meth was in use in a home is ineligible for FHA insurance. Even if remediation has been done, they will not accept the property. The appraiser is to reject the property if they have knowledge of meth use or creation in the home or if they have been informed of remediation. It is important to know that HUD Washington has not issued anything in writing but has left this particular issue up to the individual Homeownership Centers. The Denver HOC has decided they will NOT accept properties impacted by meth until further notice, although this is not in writing either but is an internal order. Please keep in mind the Denver HOC has authority over 17 western states and this order applies to all the states reporting to the Denver HOC. Please make sure your Real Estate agents are aware of this as well. We have not received any notification from any of our investors regarding this issue, but if the loans cannot be insured, they will not be purchased."
The scourge of meth is an equal opportunity plague that can impact any property, no matter what price range or location. A retired fire department captain remarked that he had seen meth labs in uber-expensive lofts in one of the trendier areas of Denver. One source of information is the National Clandestine Laboratory Register, published by the U.S. Drug Enforcement Agency, at www.justice.gov/dea/seizures. It is also is worth the time to contact local law enforcement agencies as they may have information that has not been shared with the DEA.
Listing agents will want to address this so that they do not waste time and money on a property that has limited mortgage options. I expect VA and conventional mortgages to adopt these guidelines in the future. Selling agents need to address this so they do not waste their time, and the borrowers' money for an inspection, appraisal, etc., on a deal that will not close. While no one wants more research to do, I feel this is another justification for the real estate agent's commission and another reason for buyers to avoid For Sale By Owner properties. A number of years ago I saw an investor who only looked at FSBO properties because he thought he would be saving money if real estate agents were not involved. Turns out the property he purchased had been used as a meth lab and it took close to $ 40,000 to mediate. Ever notice how stupid and greedy are a bad combination?
CHarles A. "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.
"After confirming with two separate sources at the Denver HOC office, we have learned any home, including HUD Repos, which have any evidence of the use of meth or creation of meth or even if a police report has been issued stating meth was in use in a home is ineligible for FHA insurance. Even if remediation has been done, they will not accept the property. The appraiser is to reject the property if they have knowledge of meth use or creation in the home or if they have been informed of remediation. It is important to know that HUD Washington has not issued anything in writing but has left this particular issue up to the individual Homeownership Centers. The Denver HOC has decided they will NOT accept properties impacted by meth until further notice, although this is not in writing either but is an internal order. Please keep in mind the Denver HOC has authority over 17 western states and this order applies to all the states reporting to the Denver HOC. Please make sure your Real Estate agents are aware of this as well. We have not received any notification from any of our investors regarding this issue, but if the loans cannot be insured, they will not be purchased."
The scourge of meth is an equal opportunity plague that can impact any property, no matter what price range or location. A retired fire department captain remarked that he had seen meth labs in uber-expensive lofts in one of the trendier areas of Denver. One source of information is the National Clandestine Laboratory Register, published by the U.S. Drug Enforcement Agency, at www.justice.gov/dea/seizures. It is also is worth the time to contact local law enforcement agencies as they may have information that has not been shared with the DEA.
Listing agents will want to address this so that they do not waste time and money on a property that has limited mortgage options. I expect VA and conventional mortgages to adopt these guidelines in the future. Selling agents need to address this so they do not waste their time, and the borrowers' money for an inspection, appraisal, etc., on a deal that will not close. While no one wants more research to do, I feel this is another justification for the real estate agent's commission and another reason for buyers to avoid For Sale By Owner properties. A number of years ago I saw an investor who only looked at FSBO properties because he thought he would be saving money if real estate agents were not involved. Turns out the property he purchased had been used as a meth lab and it took close to $ 40,000 to mediate. Ever notice how stupid and greedy are a bad combination?
CHarles A. "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, September 7, 2011
Watch "The Town Homes At Bear Crossin...
Watch "The Town Homes At Bear Crossing in Winter Park, Colorado" at http://ow.ly/6nImj
Watch "The Town Homes At Bear Crossin...
Watch "The Town Homes At Bear Crossing in Winter Park, Colorado" at http://ow.ly/6nImj
Watch "The Town Homes At Bear Crossin...
Watch "The Town Homes At Bear Crossing in Winter Park, Colorado" at http://ow.ly/6nImj
Tuesday, September 6, 2011
Check out my latest real estate colum...
Check out my latest real estate column titled "Do You Know A Good Contractor?" at http://ow.ly/6mBYR
Check out my latest real estate colum...
Check out my latest real estate column titled "Do You Know A Good Contractor?" at http://ow.ly/6mBYR
Check out my latest real estate colum...
Check out my latest real estate column titled "Do You Know A Good Contractor?" at http://ow.ly/6mBYR
Do You Know A Good Contractor? By Dan Polimino.
As a real estate agent, I must get that question three times a week. And why wouldn't I? After all, people are buying homes and chances are they'll need repair work or construction. Who better to ask than a real estate agent, right? Surely, the agent would know a good contractor. The answer is yes and no. Believe it or not, it's getting harder and harder to find a good contractor. I think that like most consumers, I am looking for a contractor that "does what they say, say what they mean, meet deadlines, and do good quality work." One would think that given the economic circumstances, contractors would be jumping at work and giving superior service.
As many of you know, if you have been following this column for the last two months, I have been updating my home. As such, I needed to meet with a lot of contractors to get bids. Here is the experience I have had so far:
• The tile guy said that he would come over Wednesday night to look at my job and give me a bid. He never showed up. I got him on the phone and he said that he would be over the next night. He never showed. Then he stopped responding to my phone calls and emails. This guy came highly recommended.
• I called three hardwood floor guys for their bids. The first guy came over and told me that he would send over a quote on email. It never came. I called, emailed, and three weeks later, he sent a bid. The second guy came over and after a month, I still couldn't get a bid. The third guy came over and said that he would give me a bid on email, but again never sent one. I did get him on the phone and he said that he decided he didn't want to do my job. I asked him if he ever intended on telling me that and he hung up.
• I called a painter to paint the inside of my home. He did show up on time, but again, he never sent a bid. I ended up calling a second guy and I am still waiting for him to show up.
What's the moral of the story? Yes, sometimes the real estate agent does know a good contractor, and sometimes we are in the same boat as you. If you do find a quality contractor, hang on to them, pay them well and treat them like gold because they are a rare and dying breed. I know that there are good contractors out there doing great work, and if that's you, PLEASE TELL US HOW TO FIND YOU!
Dan Polimino is a Realtor with Fuller Sotheby's International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
As many of you know, if you have been following this column for the last two months, I have been updating my home. As such, I needed to meet with a lot of contractors to get bids. Here is the experience I have had so far:
• The tile guy said that he would come over Wednesday night to look at my job and give me a bid. He never showed up. I got him on the phone and he said that he would be over the next night. He never showed. Then he stopped responding to my phone calls and emails. This guy came highly recommended.
• I called three hardwood floor guys for their bids. The first guy came over and told me that he would send over a quote on email. It never came. I called, emailed, and three weeks later, he sent a bid. The second guy came over and after a month, I still couldn't get a bid. The third guy came over and said that he would give me a bid on email, but again never sent one. I did get him on the phone and he said that he decided he didn't want to do my job. I asked him if he ever intended on telling me that and he hung up.
• I called a painter to paint the inside of my home. He did show up on time, but again, he never sent a bid. I ended up calling a second guy and I am still waiting for him to show up.
What's the moral of the story? Yes, sometimes the real estate agent does know a good contractor, and sometimes we are in the same boat as you. If you do find a quality contractor, hang on to them, pay them well and treat them like gold because they are a rare and dying breed. I know that there are good contractors out there doing great work, and if that's you, PLEASE TELL US HOW TO FIND YOU!
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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