Archive for October 2008

Buying & Selling Centennial Aurora Real Estate Now

October 8, 2008

So is the glass half empty or half full?  It depends on how you think and what your plans are for the next 3 to 5 years, maybe even 7 years.  For the next several post, I will talk about the following 4 points broken up in separate post to be short and informative.


  1. If you’re not planning to buy or sell, it doesn’t matter and your glass is full
  2. If you’re planning to buy, the glass is more than half full
  3. If you’re planning to sell, the glass is at least half full
  4. If you’re planning to sell, and buy; what is it?  Is it half full for buying and half empty for selling? The answer to be forthcoming.


Let’s take a quick look at scenario #1 and then move to #2:


#1  Since you’re not buying or selling, this time period doesn’t matter to you.  Enjoy your life, plan vacations, celebrate holidays with friends and family, create a life worth living and memories worth cherishing; and remember in the midst of a storm you may have the luxury of being on an island of tranquility.


#2  You are planning to buy a home. The reason the glass is more than half full.  You are experiencing one of the best home buying times that the Centennial Aurora Real Estate (CARE Now) area has experienced since the mid 1990’s to year 2001. During this time period, home price appreciation from year to year in the CARE area ranged from 6.00% to 20% in different neighborhoods. (my personal sales records and tracking numbers) 


Even from 2002 thru the end of 2006 homes appreciated in different areas ranged from:


2.00% to 7.00%.(my personal tracking numbers)  Home Prices are definitely lower than years 2004 thru early 2007.


Interest rates are also lower now than it was just a few months or few years ago.  Since 1972 thru early 2001 interest rates have been as low as 7.00% to as high as 16.00% in 1981. (Wells Fargo interest rate records). 

  • They are now hovering between 5.875% to 6.50% and possibly lower as of this post. 

 So why does interest rates and home price make a big difference in home purchases?  The reason is you must compare not only sales price, not only interest rates, but rather how home sales prices and interest rates combined affect your money and your day to day bottom line amount of money you spend.  Next post is example of how this affects you in real spendable dollars.


400,000 Countrywide homeowners see help on the way

October 7, 2008

Quote: The things that will destroy America are prosperity-at-any-price, peace-at-any- price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life Theodore Roosevelt 1917

 Bank of America plans to offer borrowers who had a countrywide loan and who financed their homes with subprime or pay option mortgages a pathway to affordable and sustainable mortgage payments. Eligible borrowers had to occupy the home as their primary residence and have loans serviced by Countrywide and originated prior to December 31, 2007.  Click link below to read article

Countrywide home owners to receive help through Bank of America  Article Mon Oct 6, 2008

Foreclosure Filings down and Foreclosure Bailout that nobody knows about

October 5, 2008

Arapahoe County has YTD 4,520 foreclosure filings week ending 10/04/08. This is 68 filings less then same time last year which means filings have dropped 1.48%.  As recent as end of July 2008 foreclosure filings were 10.41% higher than last year at the same time.


Go to and click on Market Data for select cities to see what’s happening now. The new statistics will be posted after the 15th of each month for the previous month.  For more detailed neighborhood information contact me at


The Consumer Bailout that nobody knows about.

This is an article you need to read or if you know of people who are, or might go into foreclosure, this article can help them.  The article talks about Section 1403 of the new housing bill that was signed into law on July 30, 2008 (HR 3221).  It required mortgage servicers to modify loans for homeowners and help them avoid foreclosure. Homeowners have to meet 3 requirements.  Click here to read full article.

How Gov’t pressured Fannie Mae into Current Credit Debacle

October 4, 2008

Did you know that the failure of Fannie Mae didn’t happen just over nite!.  As far back as Sept 30, 1999, the New York Times wrote an article warning about how easing the lending requirements for housing could lead to trouble in an economic downtown.  To read the full NYT article click on the following link: NYT article Sept 1999.

Why do I bring this up, because in early 2005 here in  Denver Colorado area real estate practitioners started feeling the effects of the sub prime loans.  Many others felt this was “The sky is falling” scenario.  It proved to be otherwise, soon the rest of the nation followed and experienced what we experienced.

The good news today!  In the county I work in,  the foreclosure filings are less this year then last year 2007.  If you like go to and click on Market Data for select cities to see what’s happening now.

In the next blog I will give you some foreclosure filing statistics and trends so you can see how the market is in the Arapahoe County area of Denver Colorado Metro area. Arapahoe county Covers parts  Aurora, Centennial, Englewood, Foxfield and Littleton.