As you may have heard lately a bipartisan group of lawmakers on Capitol Hill has been pushing for a real estate overhaul that requires a 20 percent down payment for the “safest mortgages.” On the other side of the issue, however, is a group of more than 160 lawmakers in the House of Representatives that is stating that the reform could threaten a full economic recovery for years to come and is “overly burdensome.”

While most agree that something needs to be changed from the environment of the last ten years of lending, there is some disagreement on which turn should be taken. One of the more creative solutions involves some of the risk of any non FHA and VA loans that are being securitized (packaged and resold) to be retained by the original lender. This would at least help dissuade predatory lending by increasing the risk to sub-prime lenders, but would not have such a large impact on the purchasing mindset and market as some proposals.

In our opinion it is nice to see some more creative ideas coming to the forefront that could slowly change the mindset and industry without completely shocking, and possibly destabilizing, the recovery that is hopefully emerging soon in the real estate markets.

Source: “House Lawmakers to Regulators: Kill Mortgage Plan,” Reuters News (June 1, 2011)

For the last seven weeks solid fixed-rate mortgage rates have decreased to a new annual low. The low rates, however, have not yet spurred an increase in the housing market as there are still concerns about weak economic data.

Average 30-year fixed rates ending the week of June 2 showed 4.55% (with .6 points paid), down from 4.79% at the same time last year. The lowest on record was in 2010 at 4.17%. Some are predicting rates to begin rising near the later part of 2011 and reach near 6% by end of 2012 (Fratantonti research).

Mortgage applications are still coming in, however, with refinancing as the main source (66% of all applications).

Well, the time has come and now you’re ready to put your house on the market. You realize that before you have potential buyers walking into your home, you must make your house ready to impress! What to do?
Take a look at all your light fixtures and outlet covers. Are they cracked or faded?
Wipe down your walls to take off those marks that have been there for longer than you can remember. Touching up the walls with paint can go a long way as well.
Check out your wall edges. Grab some wall putty and patch up those chipped areas.
Keep your baseboards dust free.
Unclutter your desk, counters and other flat surfaces.
A small investment of time and money can go a long way.
With these helpful tips, selling your some in the Denver Real Estate Market can be a smooth processes!!

The Denver Real Estate Market can be hard to maneuver. Try to Stage your “For Sale Home” when people come to view it. When potential buyers walk into a home, they’re going to try to imagine themselves sitting at the dinner table, reading on the couch and cooking in the kitchen.
To make this as easy for them as possible, pack up all your family photos and other items that are personal. Baseball paraphernalia, kids toys and drawings, pet beds and chew toys. Looking at these items can make them feel like they’re invading your space. The goal is to make your home uncluttered, organized and clean so as people walk in the the door, they feel welcomed. Remember, if the potential buyer is looking at your stuff, they’re not looking at your home!

Have you ever been in a home that has a room that seems out of place? This happens more than you know in the Denver real estate market.
While trying to sell your home, be on purpose about each space in your home.
If you have a spare room that you use as a storage room or a office/guest room, chose a theme and stick with it. If you choose to stage it as an office, remove extra unseemly boxes, mattresses, dressers or anything that wouldn’t normally go in an office. If you choose to use it as a guest room, pack up your desk and other office paraphernalia. If you must have something to use for your office while your house is on the market, consider scaling down your desk so it’s not so obvious. Make sure you keep the desk clean and clutter-free.
Once your room has an identity, it will be easier for your potential buyer to see themselves in it!