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You Can Buy a HUD Home for $100 Down?

Neil Walton — Wed, 26 Oct 2011 16:26:36 +0000

That’s right. From now until 10/1/12 you too can buy a HUD home for only $100 down.

First off, what’s a HUD home you may ask? A HUD home is simply a foreclosure that was purchased using an FHA loan. Millions of Americans have purchased homes using FHA Financing which insures the lender that if a borrower experiences a foreclosure then the bank is paid for the outstanding note. The homes then goes through the typical foreclosure process and then are presented to the public for sale through HUD. HUD’s mission is to get these homes back into the hands of people that are looking for an owner occupied primary residence. They do not allow investors to bid on the property for about 3 weeks from when they are initially listed. The general public gets first shot at getting a new home for a great price.

So how does the $100 down program work?

The offer price must be the full listing price.
The down payment requirement is only $100.
You must finance using an FHA mortgage.
The maximum loan amount can’t be more than 100% of the appraised value.

Of course 360dwellings lists every available HUD property on our website.
Click HERE to browse our Interactive Map Based Foreclosure List

Want to find out more about how to buy a HUD home? Click HERE for a list of FAQ’s

For a complete list of HUD home available in Colorado please visit The HUD Home Store. Find a home that you are interested in and we’ll provide a private tour and free consultation. We specialize in helping first time home buyers get a great deal on a new HUD home. Contact us today!

Denver Home Sales are Up, Prices are Low

Neil Walton — Wed, 12 Oct 2011 11:17:54 +0000

According to an article published today by the Denver Post, home sales in Denver have jumped a whopping 12.8% in September as compared to this time last year. The average home price is still at about $230,000 which is about 1% lower than we saw this time last year.

Link to Denver Post Article

We are seeing a drop in supply and therefore demand is increasing. Rent prices are on the rise and interest rates are at an all time low. Now may be the perfect time to re-evaluate renting vs. owning. Have questions? Simply type your question below and we’ll respond right away or drop us a line to set up a private consultation.

Want to see what homes are currently available to buy in Colorado? Check out the fastest and easiest to use map based search tool available.

22 More Very Unique Denver Photos

admin — Sat, 24 Sep 2011 21:33:12 +0000

Denver is a great American city, and thankfully there are a ton of photographer’s that love to shoot it. I poured over Flickr for hours to find 22 more pictures of Denver that are unique and beautiful. All of these Denver Photos are from Flickr and are licensed as Creative Commons. If you click on the image it will take you to Flickr where you can bring up the full resolution photo to use for wallpaper or whatever. While you are here you might as well look at Some Denver Homes for Sale (shameless plug, I know; but we are a Real Estate site after all).

If you like this post, you will definitely enjoy the original 12 Unique Denver Photos.

Photo 1:

"Tithing" Courtesy of LightAsMagic: Flickr

Photo 2:

"Denver Art Museum - Wheel: Overlays" Courtesy of Brian Papantonio:Flickr

Photo 3:

"Starlight" Courtesy of Ishmael Orendainn: Flickr

Photo 4:

"Denver Nightscape" Courtesy of Dagpeak: Flickr

Photo 5:

"Lights from Heaven" Courtesy of Ishmael Orendain: Flickr

Reflected light for the Church Stained Glass Window. St. Anne’s Episcopal Church Denver, CO.

Photo 6:

"Consuming" Courtesy of Zach Dischner: Flickr

Photo 7:

"Sunrise Over Denver" Courtesy of Jeff Turner: Flickr

Photo 8:

"Bold Angles" Courtesy of Ishmael Orendain: Flickr

Photo 9:

"Green Mountain Trail" Courtesy of MacKinnon Photography: Flickr

Photo 10:

"Downtown Denver" Courtesy of Stewart Chambers: Flickr

Photo 11:

"cutandpastepanorama" Courtesy of Rob!: Flickr

Photo 12:

"Larimer Square Sunset" Courtesy of Mark Shaiken: Flickr

Photo 13:

"Broncos Figurines" Courtesy of Shawn Campbell: Flickr

Photo 14:

"After the Blizzard" Courtesy of Matthew Roberts: Flickr

Photo 15:

"Vanishing Point" Courtesy of CedricTheCat: Flickr

Photo 16:

"Night At The Park: Courtesy of Richard Saxon: Flickr

Photo 17:

"Snow Blasted Civic Park" Courtesy of Mathew Roberts: Flickr

Photo 18:

"City Park Sunrise Redux" Courtesy of Mathew Roberts: Flickr

Photo 19:

"Big Blue Bear" Courtesy of Daniel Hoherd: Flickr

Photo 20:

"Colorado State Capitol: Courtesy of Talke Photography: Flickr

Photo 21:

"Denver Union Station" Courtesy of Slideshow Bruce: Flickr

Photo 22:

"Mile High Ice Cream" Courtesy of Christopher Schoenbohm: Flickr

5 Cheap Ways to Stage Your Home to Sell Quickly

Neil Walton — Thu, 22 Sep 2011 13:31:35 +0000

Author: Neil Walton, Denver Realtor

Do you want to sell your home quickly? Don’t want to hire a professional stager at $100/ hour? Here are 5 sure fire tricks that will help get your home sold quickly without spending too much.

1. Take Down Your Personal Photos – I watch my clients stare at photos of the owners and their grandparents, kids, cousins, parents, etc. They then try to get all CSI to figure out who lives there. I want my clients to see themselves in the home rather than you. Take down those photos and get your religious items off the walls.

2. Get Rid of Your Clutter – Stuff collects over the years on counters, shelves, closets, etc. Get rid of 90% of it. You want someone looking at your home rather than the titles of your CD collection. Get everything off your kitchen counters. If you have kids put their toys away.

Take all of the clutter and put it in boxes and either store it in a corner of the garage or rent a storage space for $50/ month. If you’re wondering if it’s clutter, then it probably is and it should go. The less distractions that a potential buyer has the better.

3. Rearrange and Neutralize Rooms – Give every room a purpose. Paint the walls, trim and doors to give it a clean newer look. The return on investment is worth its weight in gold. Organize the closets. Anything that you have not worn in the last year… get rid of it. Throw out those 10 year old shoes that you never wear. I suggest walking through a model home to get an idea of what a clean well displayed room looks like.

4. Scrub and Deodorize – Nothing worse than a smelly dirty home. Hire a professional crew to get in there and scrub off the years of filth you have created. This includes windows, garage, basements, appliances, etc. Clean before EVERY showing.

Bake some cookies and leave them out for potential buyers and agents. It makes the house smell amazing and allows the buyer some time to relax in the kitchen and feel at home.

Take out your garbage and don’t spray deodorizer to cover up any smells. Get rid of the root problems.

5. Enhance Your Curb Appeal – The exterior of the home is just as important as the interior. Pressure clean the exterior, mow the lawn, clean the sidewalks of debris, clean the driveway, etc. Paint your entry way door. The exterior is the first impression and it needs to be a good one.

A cheap solution for unsightly landscaping is to get some mulch. Many cities give it away for free.

Obama Wants to Refinance Millions of Mortgages at Today’s Ridiculously Low Rates

admin — Fri, 09 Sep 2011 13:30:23 +0000

In last night’s job speech President Obama pledged assistance to millions of American homeowners that are trapped in a high interest rate mortgage and can’t refinance there home either due to weak credit or not having enough equity in there home. This is certainly a step in the right direction, but is it to little to late for millions of American’s facing foreclosure?

President Obama Said:

And to help responsible homeowners, we’re going to work with federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent. That’s a step, I know you guys must be for this, because that’s a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices.

The government released a white paper on Wednesday titled “An Evaluation of Large-Scale Mortgage Refinancing Programs” outlining the issues facing homeowners and how this new program may work, you can download that white paper here. Following is an excerpt from the white paper.

The ongoing housing crisis and the slow recovery from the recent recession have locked many borrowers out of the refinancing market. Two main factors drive that phenomenon:

Weakened household balance sheets, reduced income and widespread unemployment have left many borrowers unable to qualify for a refinancing because of restrictions based on affordability tests. For some the constraint is a too high loan-to-value (LTV) ratio—the amount of mortgage debt divided by the assessed value of the home.1
Lenders and mortgage guarantors, including the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac and the Federal Housing Administration (FHA), have instituted more stringent underwriting requirements, leaving many borrowers unable to qualify for a new loan even if they have remained current on their existing mortgages.

With those rates now near 4 percent, the president says the move could “put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices.”

While the specifics have not been released, it’s expected that the program will make homeowners with government-backed mortgages eligible for new, lower-rate, lower-payment loans even if they are upside down on their mortgage or have have negative credit due to not making mortgage payments on time or excessive debt to income ratio.

Tags: Obama Refinance Homes Today’s Interest Rates, Government Refinance Loans Program for Bad Credit

The 9 Best Colorado Season Ski Passes for 2011/2012

admin — Sun, 04 Sep 2011 22:36:28 +0000

I moved to Colorado in 1996 mainly for the snowboarding. I got my “Colorado Pass” the very first year it was available and have renewed it every year since. The great thing about Colorado Ski Resorts is that there is plenty of competition, for out of state skiiers as well as front rangers. This means that us locals get incredible value when it comes to Colorado Season Pass Deals. Ski Markets where one mountain dominates the ski landscape pay over $1,000 for access to just one marginal mountain. In Colorado for less than $500 in most cases you get access to 3 or more world class resorts. For most passes if you can just use it 7 times you will usually come out ahead, especially when you factor in lines to get lift tickets. Pass holders go straight to the lifts.

Epic Local Pass (formerly Colorado Pass): At $499 for an adult ($20 more this year), this pass is just too much to beat, especially for front-rangers. This pass is a little more expensive than most other Colorado Ski Passes but when you factor in the 10 days at Vail or Beaver Creek and the access to Tahoe Ski Areas, it actually presents the best value in the ski industry. Pass Details: Unlimited access to Breckenridge, Keystone and Arapahoe Basin with no restrictions. 10 restricted days at Vail and Beaver Creek. Bonus: Works at Heavenly and Northstar-at-Tahoe with restricted days. Link to Pass Information

Rocky Mountain Super Pass +: If you like to ski or ride at Winter Park, Copper, and Steamboat then this is your pass. At $459 Rocky Mt Super Pass may presents great value for Colorado Slope Riders. Pass Details: Unlimited skiing and riding at Winter Park / Mary Jane and Copper Mountain. Bonus: Six unrestricted days at Steamboat. Link to Pass Information

Been thinking about buying a second home in Summit County? Start your Breckenridge Real Estate Search, or look for Silverthorne CO MLS Listings or Frisco Homes for Sale here.

Monarch Mountain Season Pass: Moving up the list from #5 in 2011, this pass is a bit of a gem especially if you have plans to ski or ride at places like Revelstoke BC (3 free days!). At just $329 for an adult, this might just be the best Season Pass Ski Deal in Colorado. Pass Details: Unlimited at Monarch Mountain with no restrictions, and 31 free days + plus discounts and at partner resorts of Loveland, Sunlight, Powderhorn, Silverton, Durango, Angel Fire, Pajarito, Sipapu, Alta, and Grand Targhee, we have now added free or discounted skiing and riding at Michigan’s Indianhead, Arizona Snowbowl, Revelstoke British Columbia (3 free days!), Sol Vista, Red River & Taos, New Mexico, and China Peak, CA! Link to Pass Information

Loveland Season Pass: Hate the I-70 traffic and crowds? Look no further than the Loveland Ski Resort Season Pass. For $359, this is also one of the better values in Colorado Skiing. Pass Details: Unlimited skiing and snowboarding at Loveland, plus 3 free days each at Monarch Ski Area & Durango Mountain Resort. Bonus: One free day unguided day at Silverton Mountain! Double bonus: the midweek pass is just $249 and has the same benefits of the full pass. Link to Pass Information

Copper 4-Pack: Can’t justify a season pass? Check out the Copper Four Pack for just $139. Pass Details: 4 days of skiing/riding at Copper + 4 Friends and Family lift tickets valid anytime during the season at $59 for use only at Copper. Link to Pass Information

Aspen-Snowmass Classic Pass: If you know you are going to make a trip to Aspen or Snowmass, then make sure to grab the Classic Pass for $199 (or 7 days for $329). Pass Details: Good for 4 days at Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk. Extension days can be added at a cheaper price than going straight to the lift ticket sales office. Link to Pass Information

Colorado Gems Card: This is the card that should be in every serious Colorado riders wallet. For just $10, you get 2 free lift tickets (with restrictions) and discounts at A-Basin, Echo Mountain, Eldora Mountan Resort, Loveland Ski Area, Monarch Mountain, Powderhorn Resort, Ski Cooper, SolVista Basin, and Sunlight Mountain Resort. Link to Card Information

Colorado Gold Pass: This is the Ultimate Ski Pass for the die hard Colorado Skiier or Snowboarder For $3,000 you can access 21 Colorado Ski Resorts without any blackout dates or restrictions. Pass Details: The Colorado Gold Pass is valid at 21 Colorado Ski Resorts. Arapahoe Basin, Aspen Highlands, Aspen Mountain, Buttermilk, Copper Mountain, Crested Butte, Purgatory, Echo, Eldora, Howelson, Loveland, Monarch, Powderhorn, Ski Cooper, Snowmass, SolVista, Steamboat, Sunlight, Telluride, Winter Park and Wolf Creek. Unfortunately the Gold Pass is no longer valid at any of the Vail Resorts, boo. Bonus: When you flash this pass you will be the envy of everyone at après events! Link to Card Information

Crested Butte X-Card: New this year, you can buy a 5 day unrestricted pass to Crested Butte for $259 ($52/day). This is a great season pass for a front ranger that wants to spend some time at Crested Butte as well. Link to Card Information

Ready to make your Mountain Move: Search for Breckenridge CO MLS Listings.

Bonus List: The 2011 Ryan Penn Realtor Top 5 Colorado Ski Resorts:

#1 Vail: “Humongous 7 mile wing-span. You can ski 100 straight days here and still be surprised by something new.”
#2 Snowmass: “Perfect weekend escape, best ski in-out resort in Colorado. Big Burn Baby.”
#3 Wolf Creek: “Hard to get to but worth it every time, best snow in Colorado. Get extreme on the Knife Ridge Chutes.”
#4 Steamboat: “Fun, fun town and pow-pow-pow!”
#5 Aspen Highlands: “The Highland Bowl is outrageous fun. One of the most interesting designs for a Ski Resort.”

What’s your favorite season pass Colorado? Have a favorite mountain to add to this list? Drop it in our comments.

FHA Loans to Revert to 2008 Limits Next Month – What Does That Mean to You?

Neil Walton — Thu, 01 Sep 2011 23:49:03 +0000

Have you had your eye on a $400k home and had plans to use an FHA to purchase it? You’ve got one month to get off the fence and pull the trigger because loan limits for FHA are going down. Currently in Denver you can use an FHA loan to purchase a home for up to $406,250. Effective Oct. 1, 2011 the limit will drop to $368,000 for Denver County. What does that mean to you?

First off it’s bad for home seller’s in the upper $300′s price point. Buyers are going to have to seek out Conventional loans and may have to put down as much as 20% vs. an FHA loan that only requires 3.5% into the deal. Seller’s are going to have to reduce their home prices, hold or rent. This could be quite an impact on home sales.

Why is HUD/ FHA doing this?

In 2008 Congress voted to suspend the limits on FHA loans that were scheduled to be implemented in 2009 as part of the Economic Stimulus Act of 2008 (ESA). That suspension is up on Oct. 1st and barring any new action from Congress the 2009 limits will go into effect.

Click Here to Read the Official Press Release from HUD

Limits vary from county to county. In Boulder the current FHA limit is at $460,000 and it will be changing to $402,500. In Alamosa you’ll see a loan limit of only $271,050. Click Here for a complete list of the limits per State & County.

Now maybe the time to get off the fence and make that next purchase with an FHA loan before the limits fall. Schedule a showing today for any property you find on 360dwellings.

Who Else Wants a Great Deal on a Denver County Foreclosure?

Neil Walton — Thu, 25 Aug 2011 22:00:48 +0000

RealtyTrac just released it’s latest figures for Q2 of 2011 and apparently 36% of all home sales in Colorado were foreclosures. Nationwide foreclosures accounted for 31%.

Different parts of Colorado experienced drastic changes as compared to last year in foreclosure rates. For example, Durango saw a 500% increase in the number of foreclosures as compared to Q2 of last year. Boulder lead the way with decreasing it’s number of foreclosures as compared to this time last year by 48.6%.

Click Here to Search For Active Denver County Foreclosures

Below is a list of 25 of the most recent Denver County Foreclosures. This list is constantly updating so be sure to check back daily for the latest list of new foreclosures.

Showing properties 1 - 25 of 141. See more Denver County Foreclosures.
(all data current as of 2/5/2012)

$236,900 : 1611 Wolff ST, Denver

2 beds, 2 full baths

Home size: 1,442 sq ft

Lot size: 3,450 sq ft

Year built: 1900

Parking spots: 2

Listed with MB ADVANTAGE REALTY TEAM
$91,000 : 953 S Lowell BLVD, Denver

3 beds, 1 full bath

Home size: 937 sq ft

Lot size: 6,350 sq ft

Year built: 1958

Listed with ELIST REALTY, LLC
$299,900 : 2500 Cherry ST, Denver

3 beds, 1 full, 2 part baths

Home size: 2,907 sq ft

Lot size: 5,950 sq ft

Year built: 1911

Parking spots: 1

Listed with HETER AND COMPANY INC
$70,000 : 3221 Krameria ST, Denver

2 beds, 1 full bath

Home size: 1,039 sq ft

Lot size: 6,250 sq ft

Year built: 1954

Parking spots: 1

Listed with RE/MAX PROFESSIONALS
$267,900 : 1489 Steele ST, Unit 310, Denver

2 beds, 2 full baths

Home size: 1,095 sq ft

Year built: 2001

Parking spots: 1

Listed with RE/MAX ALLIANCE
$219,900 : 4770 Clay ST, Denver

4 beds, 1 full, 1 part baths

Home size: 2,126 sq ft

Lot size: 6,250 sq ft

Year built: 1962

Parking spots: 2

Listed with ORTIZ AND ASSOCIATES INC
$284,900 : 1362 Dexter ST, Denver

4 beds, 3 full baths

Home size: 2,880 sq ft

Lot size: 6,240 sq ft

Year built: 1929

Parking spots: 1

Listed with HETER AND COMPANY INC
$229,900 : 5821 W 7th AVE, Lakewood

6 beds, 4 full baths

Home size: 3,705 sq ft

Lot size: 22,999 sq ft

Year built: 2004

Parking spots: 2

Listed with THE HENDRIX GROUP
$144,900 : 1621 Wabash ST, Denver

4 beds, 2 full baths

Home size: 2,603 sq ft

Lot size: 6,650 sq ft

Year built: 1951

Parking spots: 2

Listed with RE/MAX PROFESSIONALS
$71,000 : 3513 W 7th AVE, Denver

3 beds, 1 full bath

Home size: 700 sq ft

Lot size: 4,710 sq ft

Year built: 1938

Parking spots: 1

Listed with RE/MAX PROFESSIONALS
$164,900 : 2945 Josephine ST, Denver

2 beds, 1 full bath

Home size: 1,499 sq ft

Lot size: 4,160 sq ft

Year built: 1902

Parking spots: 2

Listed with THE HENDRIX GROUP
$79,200 : 6432 W Cedar PL, Lakewood

2 beds, 1 full, 1 part baths

Home size: 1,037 sq ft

Lot size: 14,723 sq ft

Year built: 1947

Parking spots: 2

Listed with ERA HERMAN GROUP
$19,900 : 1532 W Nevada PL, Denver

0 beds, 0 baths

Lot size: 6,259 sq ft

Listed with COLDWELL BANKER RESIDENTIAL 24
$44,900 : 660 S Alton WAY, Unit 8C, Denver

1 bed, 1 full bath

Home size: 855 sq ft

Year built: 1969

Parking spots: 1

Listed with LUCERO REAL ESTATE
$134,900 : 925 Lincoln ST, Unit 9F-S, Denver

1 bed, 1 full bath

Home size: 769 sq ft

Year built: 2001

Parking spots: 1

Listed with MB ABSOLUTE R E SERVICE, LLC
$59,900 : 4738 Williams ST, Denver

2 beds, 1 full, 1 part baths

Home size: 1,633 sq ft

Lot size: 5,730 sq ft

Year built: 1948

Parking spots: 2

Listed with ERA HERMAN GROUP
$219,900 : 692 S Holly ST, Denver

4 beds, 1 full, 2 part baths

Home size: 2,306 sq ft

Lot size: 8,010 sq ft

Year built: 1960

Parking spots: 1

Listed with GREAT WAY RE EXCLUSIVE PROPERT
$87,500 : 9574 E Kansas CIR, Denver

2 beds, 1 full, 1 part baths

Home size: 1,240 sq ft

Year built: 1975

Parking spots: 1

Listed with KELLER WILLIAMS REALTY LLC
$79,900 : 3285 Fenton ST, Wheat Ridge

3 beds, 1 full bath

Home size: 1,124 sq ft

Lot size: 6,469 sq ft

Year built: 1947

Parking spots: 1

Listed with K. O. REAL ESTATE
$86,500 : 850 King ST, Denver

3 beds, 1 full bath

Home size: 943 sq ft

Lot size: 6,250 sq ft

Year built: 1948

Parking spots: 1

Listed with PUBLIC REALTY COMPANY
$164,900 : 3558 W 25th AVE, Denver

2 beds, 1 full bath

Home size: 877 sq ft

Lot size: 3,562 sq ft

Year built: 1951

Parking spots: 1

Listed with PUBLIC REALTY COMPANY
$284,900 : 2698 Marion ST, Denver

3 beds, 2 full, 2 part baths

Home size: 2,591 sq ft

Lot size: 3,150 sq ft

Year built: 2003

Parking spots: 2

Listed with KELLER WILLIAMS DTC
$94,900 : 123 W Alameda AVE, Denver

0 beds, 1 full bath

Home size: 1,906 sq ft

Lot size: 4,511 sq ft

Year built: 1890

Listed with STSR REAL ESTATE INVESTMENT...
$96,000 : 1220 Ames ST, Lakewood

2 beds, 1 baths

Home size: 1,573 sq ft

Lot size: 6,110 sq ft

Year built: 1946

Listed with HOME PRIDE REALTY
$94,900 : 123 W Alameda AVE, Denver

0 beds, 0 baths

Home size: 1,906 sq ft

Lot size: 4,511 sq ft

Year built: 1890

Listed with STSR REAL ESTATE INVESTMENT...

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Solterra Parade of Homes – Come See this Remington Ranch this Weekend

admin — Wed, 24 Aug 2011 04:47:55 +0000

In addition the the fantastic homes and models to see at the Solterra Parade of Homes this gorgeous Remington Ranch home with over $70,000 in upgrades will also be open and available for viewing all weekend long. Make sure to stop in to see the latest in home design.

2354 S Juniper open Saturday and Sunday from 11-3.

We're sorry, but we couldn't find MLS # 653671 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Solterra Parade of Homes available homes to see.

Record Breaking Interest Rate on a 30 Year Mortgage

admin — Thu, 18 Aug 2011 15:25:21 +0000

If you have been sitting on the fence regarding a new home purchase now may be the time to finally get off. Interest rates on a 30 year mortgage hit an all time low at 4.15%, beating the previous record of 4.17% reached last November. The last time interest rates were this low was 1971. Interest rates on a 15 year fixed rate loan dropped to 3.36%. At the time this article was published interest rates from Bank Rate can be seen in the graphic to the right.

With the recent debt scare and a sluggish economy, analysts expect interest rates to stay low.

The Federal Reserve offered a dim outlook of the economy last week, saying it expects growth will stay weak for two more years. As a result, the Fed said it expects to keep short-term rates near zero through mid-2013.

You can read the full article from the Denver Post here.