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
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