Tuesday, November 30, 2010
Check out my latest real estate blog ...
Check out my latest real estate blog titled "The Tax Credit Is Expiring" at http://ow.ly/3hyuN
Check out my latest real estate blog ...
Check out my latest real estate blog titled "The Tax Credit Is Expiring" at http://ow.ly/3hyuN
Check out my latest real estate blog ...
Check out my latest real estate blog titled "The Tax Credit Is Expiring" at http://ow.ly/3hyuN
The Tax Credit Is Expiring. By Dan Polimino.
Many people know that the Bush Tax Cuts are set to expire Dec 31st. How many people know that the Green Energy Tax Credit is also expiring on Dec 31st? You‘ve seen it in stores – it’s the energy star efficient label that tells people they can get up to $1500 tax credit for using energy star efficient appliances. The tax credit also applies to people making green energy improvements to their homes. Simply put in an energy efficient water heater, a furnace, an air conditioner, windows, a heat pump, or a green roof and you get up to a $1500 tax credit. Plus you also get the benefit of saving on monthly utility bills. According the National Association of Home Builders, some people can save one third of their year’s utility bill by using an energy star washer and dryer.
The NAHB is currently urging Congress to extend the tax credit past Dec 31st, but as of now, there is no news. Given the fact that Washington has bigger problems on their plate right now, I would not be surprised to see this slip through the cracks and end. With that said, if you were hoping to take advantage of the credit, you may want to put a water heater on this year’s Christmas list. Just make sure that you buy it before Dec 31st.
The tax credit will continue to December 31st 2016 for homeowners who want to tackle bigger projects. The Federal Government will allow you to take a tax credit of up to 30% of the cost with no upper limit if you are looking to install solar panels, wind turbines, or a geothermal heating system. Geothermal has really picked up steam (no pun intended) in the last few years as the cost to implement the systems have come down and more builders recognize it as a big selling feature. This credit applies to new home construction, existing real estate sales, primary residences, and second homes. Sorry, but rental homes do not qualify for the credit.
You can get more information about the kinds of products that qualify and the tax credit by visiting NAHB.org and energystar.gov.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Click here to Get started searching for YOUR Colorado Dream Home.
The Tax Credit Is Expiring. By Dan Polimino. > Your Voice > Blogs > Denver > YourHub.com http://ping.fm/MCFjw
Monday, November 29, 2010
Tuesday, November 23, 2010
Read my latest blog post titled "If Y...
Read my latest blog post titled "If You Were Gambling On Lower Rates, You May Have Lost" at http://ow.ly/3egEk
Read my latest blog post titled "If Y...
Read my latest blog post titled "If You Were Gambling On Lower Rates, You May Have Lost" at http://ow.ly/3egEk
Read my latest blog post titled "If Y...
Read my latest blog post titled "If You Were Gambling On Lower Rates, You May Have Lost" at http://ow.ly/3egEk
If You Were Gambling On Lower Rates, You May Have Lost
Interest rates rose sharply last week for fixed rate mortgages. Freddie Mac reported Thursday that rates for a 30 year fixed rate mortgage rose to 4.39% from 4.17%. The 15 year loan increased to 3.76%.
It is impossible to consistently and accurately predict the direction of interest rates. The way to win this game is simple: do the numbers to see at what point, based upon all the information, it makes sense to refinance. Then take the money and run. Most consumers know that you cannot check the odds on the Super Bowl and then place a bet after the game. All too often we see consumers do this when it comes to locking a rate. By the time you hear interest rates will jump, they have already risen.
Remember that interest rates shoot up like a rocket and float down like a feather.
If you were turned down by a bank for a mortgage I would be happy to review your situation without cost or obligation.
Best, Chip
Chip Allen
Crestline Mortgage Bankers
A Division of Universal Lending Corp
Direct: 303.947.2109
Fax: 303.987.0676
Your Lender for Life!
When people you care about need a mortgage,
for purchase or refinance, please do not keep me a secret.
Click here to Get started searching for YOUR Colorado Dream Home.
If You Were Gambling On Lower Rates, You May Have Lost Your Voice Blogs Denver YourHub.com http://ping.fm/tNrz2
Monday, November 22, 2010
Check out my latest real estate blog ...
Check out my latest real estate blog titled "Can I Get A Better Deal?" at http://ow.ly/3dzOX
Check out my latest real estate blog ...
Check out my latest real estate blog titled "Can I Get A Better Deal?" at http://ow.ly/3dzOX
Check out my latest real estate blog ...
Check out my latest real estate blog titled "Can I Get A Better Deal?" at http://ow.ly/3dzOX
Can I Get A Better Deal? By Dan Polimino.
Happy Thanksgiving Everyone! I hope you are having a wonderful Holiday weekend.
Some buyers were thinking about purchasing a home and wanted to know if they should buy and close in December or in January. Basically, they wanted to know if they would get a better deal if they closed before the end of the year. I said yes, they very well could get a better deal if they closed before the end of the year and here’s why:
• If you’re looking at a bank-owned property or a builder, they would love to get as much inventory off of their books before the end of the year as possible. This is probably the best time of year to do some deal making.
• Private sellers that have their home on the market during the Holidays need to sell and are very motivated. They may be even more motivated to get out of that situation before the end of the year so they can move on with their life and start the New Year off right.
• Sellers also understand that there are not a lot of people who are out looking at homes in December. So if they get a buyer looking at their home, sellers know that they are a “real” buyer and not a looky loo. As a result, the seller doesn’t want that one lone buyer to go away and is ultra-motivated to negotiate.
• There is not a lot of competition in December for homes, again due to the decrease in buyers in the marketplace. That means more choices for buyers that look to close before the end of the year and less competition for the premium properties. Its Murphy’s Law that just when you get interested in a property and are ready to make offer, a second or sometimes even a third offer comes in. There is far less of a chance of this happening in December.
I always enjoyed looking at homes during the Holidays. I enjoy seeing the ways people decorate their homes and how they celebrate. It really is a great time of the year to buy a home and one of the best times to get a great deal.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Click here to Get started searching for YOUR Colorado Dream Home.
Sunday, November 21, 2010
Photo Friday: It’s less Than Two Weeks Away
http://www.coloradodreamhouse.com/index.php/news/ Hard to believe Thanksgiving is less than two weeks away. So today we’ll use this Photo Friday to remind you….YOU BETTER ORDER YOUR TURKEY! Please submit to us the photos of your life and we may post them on our sites for all to share. We would love to know where you live and the good life you enjoy.
Photo Friday: It's less Than Two Weeks Away Your Voice Blogs Denver YourHub.com http://ping.fm/AaSUi
Friday, November 19, 2010
Wednesday, November 17, 2010
Luxury Ranch on 106 acres in Sedalia, Colorado
http://www.coloradodreamhouse.com/featured/property.php?id=10 This luxury gentleman's ranch rests atop 106 acres offering stunning 360-degree views of the Front Range and surrounding areas. The home/garage is 100% finished and ready to move-in now, it would be perfectly suited as a provisional residence until you build your own private dream estate. Then it would serve as a fantastic guesthouse. The nine-car garage uses radiant heat for a dust-free environment to store those high-end toys or equipment and keep them showroom fresh. Boldly stalwart architecture in natural stone and cedar distinguishes this two bedroom, three bath, 2100+ square foot home as something special. This ranch has water rights, a pond, zoning for horses, and its own private game preserve with herds of elks and deer. The property affords space and privacy while still being close to the amenities of town. At the main entrance, a heated patio with a built-in stainless gas grill immediately welcomes guests with a convivial atmosphere. Once inside, plenty of warm wood and native stone make for an inviting and relaxing space.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a private showing.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a private showing.
Luxury Ranch on 106 acres in Sedalia, Colorado > Your Voice > Blogs > Denver > YourHub.com http://ping.fm/Oruma
Monday, November 15, 2010
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "Appraisals Are A Changin" at http://ow.ly/39TcF
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "Appraisals Are A Changin" at http://ow.ly/39TcF
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "Appraisals Are A Changin" at http://ow.ly/39TcF
Appraisals Are A Changin. By Dan Polimino.
Our office, Fuller Sotheby’s and Kensington Mortgage, hosted two very established and well-respected appraisers at our company meeting a month ago. The purpose was for the appraisers to give us a state of union speech and for realtors to ask questions about what, where, and why. We have all seen massive changes in the appraisal business since the real estate crash and many professionals including myself are scratching their heads on a regular basis, trying to figure what an appraiser is thinking. Most people know about all of the reforms that the lending side of business has gone through, but few realize that appraisals and appraiser come in a close second when we talk about industries turned upside down.
With that said, lets hit a few highlights that were covered during the hour and half symposium because the information affects us all.
1) The number one piece of information I summarized was that in most cases, buyers are getting the price of homes correctly. Remember, the appraiser’s job is to confirm or deny the current market conditions on behalf of the lender loaning the money to the buyer. If the buyer has offered $230,000 for the home, it’s the appraiser’s job to confirm or deny for the bank that it is the current market value for that home. “Current Market Value” is the key word. They are charged with the job of finding an exact “match” to the home that is under contract to prove the current market value. Remember in the first sentence, I said that buyers are getting values correctly. What we need to keep in mind is that the buyer has seen more homes in the market than anyone else in the real estate equation. Many times, they know better what you can buy for the money than the listing agent and the buying agent. The days of buyers overpaying for a home are long gone. They are too smart, too savvy, and have done more homework than anyone involved. So in most cases, these appraisers are telling us that the buyers are getting the pricing correctly and judging well the current market conditions.
2) Ninety days is the new norm. Appraisers need to use comparables in your neighborhood that are not older than 90 days. If there are none, they can first move out of your area, or second, take a look at something older than 90 days. The days of applying a comparable from 12 months ago have been gone for two years and now the sold property from 6 months ago is an extinct comparable. Sellers better hope that something has sold in their neighborhood in the last 90 days or appraisal could be an issue.
3) Price per square foot doesn’t matter. Most real estate agents already know that appraisers do not use price per square foot for an evaluation. It has almost no bearing on the appraisal. Problem is, sellers and buyers use price per square foot when buying and selling. The message here is that price per square foot has never been and never will be a good predictor of value. There are just too many other intangibles when it comes to arriving at a fair market value of a home.
That was a lot more great information that I just don’t have enough room for here so if you would like to contact me, I’ll be happy to share it with 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
Friday, November 12, 2010
Photo Friday: The Lights Are Already Up!
http://www.coloradodreamhouse.com/index.php/news/ You may not want to think about it yet, but people are already hanging their outside Christmas Lights. Before you know it we’ll be knee deep in Egg Nog, Christmas Parties and shopping. Personally it’s doesn’t bother me when people start this early. I am one of them because I love Christmas and all the Holidays. Please submit to us the photos of your life and we may post them on our sites for all to share. We would love to know where you live and the good life you enjoy.
Photo Friday: The Lights Are Already Up! > Your Voice > Blogs > Denver > YourHub.com http://ping.fm/wTCAw
Wednesday, November 10, 2010
Check out my latest real estate video...
Check out my latest real estate video titled "The Building Of Colorado's Natural Dream House" at http://ow.ly/37D3t
Check out my latest real estate video...
Check out my latest real estate video titled "The Building Of Colorado's Natural Dream House" at http://ow.ly/37D3t
Check out my latest real estate video...
Check out my latest real estate video titled "The Building Of Colorado's Natural Dream House" at http://ow.ly/37D3t
The Building Of Colorado's Natural Dream House Your Voice Blogs Denver YourHub.com http://ping.fm/mDfLM
The Building Of Colorado's Natural Dream House
http://ping.fm/lTlvr 995 Longbow Place was voted Natural Dream house of the year and is Colorado luxury at its finest. One of the reasons it is so natural is the concrete log design. Watch this amazing home be built over two years with the help of time lapsed photography.
Tuesday, November 9, 2010
View my latest video titled "Why You ...
View my latest video titled "Why You Shouldn't Send People Back To Your Home Page!" at http://ow.ly/36PvU
View my latest video titled "Why You ...
View my latest video titled "Why You Shouldn't Send People Back To Your Home Page!" at http://ow.ly/36PvU
View my latest video titled "Why You ...
View my latest video titled "Why You Shouldn't Send People Back To Your Home Page!" at http://ow.ly/36PvU
Why You Shouldn't Send People Back To Your Home Page!
http://www.coloradodreamhouse.com/index.php/news/ In this week’s market update real estate agent and marketing guru Dan Polimino tells people why it’s not a good idea to blog out content and then send people back to your home page for more information. To find out why watch this week’s market update for Denver, Colorado with Fuller Sotheby’s agent Dan Polimino.
Why You Shouldn't Send People Back To Your Home Page! Your Voice Blogs Denver YourHub.com http://ping.fm/0MKoE
Monday, November 8, 2010
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "No Good Options, Part Two" at http://ow.ly/367Vp
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "No Good Options, Part Two" at http://ow.ly/367Vp
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled "No Good Options, Part Two" at http://ow.ly/367Vp
No Good Options, Part Two. By Dan Polimino. > Your Voice > Blogs > Denver > YourHub.com http://ping.fm/BFghw
No Good Options, Part Two. By Dan Polimino.
Last week, I started a story about people trying to get some relief on their mortgage. I called my mortgage lender, Wells Fargo, and pretended that I needed some help. I did this because I wanted to find out for myself what people are going through in trying to refinance their homes or getting loan modifications. I started out with the refinance department and got nowhere quickly. To re-read Part One of the story, go to http://www.coloradodreamhouse.com/index.php/mortgage/no-good-options-part-one/.
As we pick up the story this week, I asked the representative from Wells Fargo refinance what I should do next if refinancing was not an option. He said I should speak with the Loan Modification Department. He transferred me over and I waited on hold. Expect that this time after you have been listening to the music forever, it eventually hangs up on you. So I repeated the process and it hung up on me again. It hung up on me four times, before I tried a different route through a supervisor. I only tried five times because I was writing a story. I am sure the average consumer is giving up after two tries. Anyway, I finally got in the Loan Modification Department and without dragging this column on forever, quickly realized that there was not going to be a solution for me there either. They offered a short term plan and a long term plan and I can tell you honestly that even if I could have proved hardship, they would have provided little to no relief. In dollars and cents, I might have been able to save $100 dollars or less on each plan. My guess is, if an individual is speaking to a loan mod department at that point, they need a little more relief than $100 dollars a month.
Finally, after spending several hours in this process, I realized why people give up hope on saving their homes. The answer is there are no good options. I am sure some people have gotten relief from banks. I am sure some banks are better than others and have better systems in place to help people, but the sense I get is that there is little to no hope for the vast majority of people. I would never encourage or advocate people walking away from their homes, but after going through this exercise once, I understand why people do.
Next week, there are big changes coming in the appraisal system. I attended a mini appraisal symposium and learned more than I expected. Join me next week when I tell you why price per square foot doesn’t matter.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Click here to Get started searching for YOUR Colorado Dream Home.
Friday, November 5, 2010
Stunning Stone Residence at Cherry Hills Village
http://www.coloradodreamhouse.com/featured/property.php?id=13 Amid beautifully landscaped grounds and canopy trees, this stunning stone residence radiates Old World elegance and charm. Elegantly designed and spacious rooms, wide-planked walnut floors, a large gourmet kitchen, and a 2-story family room with a stone fireplace are just some of the architectural elements designed to create an atmosphere of warmth and sophistication. Among the plethora of amenities are a Cherry wood study, a sumptuous master suite, 3 additional bedrooms, 6 baths and an enormous exercise room. In addition, a sensational children's retreat offers a special spot for family enjoyment. The covered terrace with a cozy fireplace, and a large lawn area for evening gatherings, complete the package. Truly a distinctive offering in a desirable location, this elegant home is timeless in design and detail. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Photo Friday: It’s That Time Of Year Again
http://www.coloradodreamhouse.com/index.php/news/ It’s that time a year again in Colorado. If you live here you are pumped about the start of ski season. If you don’t live here dust off your ski’s, book a ticket for Colorado and join the rest of us for the best skiing in the world. See you on the slopes! Please submit to us the photos of your life and we may post them on our sites for all to share. We would love to know where you live and the good life you enjoy.
Wednesday, November 3, 2010
Stunning Stone Residence at Cherry Hills Village
http://www.coloradodreamhouse.com/featured/property.php?id=13 Amid beautifully landscaped grounds and canopy trees, this stunning stone residence radiates Old World elegance and charm. Elegantly designed and spacious rooms, wide-planked walnut floors, a large gourmet kitchen, and a 2-story family room with a stone fireplace are just some of the architectural elements designed to create an atmosphere of warmth and sophistication. Among the plethora of amenities are a Cherry wood study, a sumptuous master suite, 3 additional bedrooms, 6 baths and an enormous exercise room. In addition, a sensational children's retreat offers a special spot for family enjoyment. The covered terrace with a cozy fireplace, and a large lawn area for evening gatherings, complete the package. Truly a distinctive offering in a desirable location, this elegant home is timeless in design and detail. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Stunning Stone Residence at Cherry Hills Village > Your Voice > Blogs > Cherry Hills Village > YourHub.com http://ping.fm/XBnBv
Stunning Stone Residence at Cherry Hills Village
http://ping.fm/U27NC Amid beautifully landscaped grounds and canopy trees, this stunning stone residence radiates Old World elegance and charm. Elegantly designed and spacious rooms, wide-planked walnut floors, a large gourmet kitchen, and a 2-story family room with a stone fireplace are just some of the architectural elements designed to create an atmosphere of warmth and sophistication. Among the plethora of amenities are a Cherry wood study, a sumptuous master suite, 3 additional bedrooms, 6 baths and an enormous exercise room. In addition, a sensational children's retreat offers a special spot for family enjoyment. The covered terrace with a cozy fireplace, and a large lawn area for evening gatherings, complete the package. Truly a distinctive offering in a desirable location, this elegant home is timeless in design and detail. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Tuesday, November 2, 2010
View Denver Real Estate Weekly Market...
View Denver Real Estate Weekly Market Video Update titled "Mass Negativity In The United States" at http://ow.ly/33apT
View Denver Real Estate Weekly Market...
View Denver Real Estate Weekly Market Video Update titled "Mass Negativity In The United States" at http://ow.ly/33apT
View Denver Real Estate Weekly Market...
View Denver Real Estate Weekly Market Video Update titled "Mass Negativity In The United States" at http://ow.ly/33apT
Mass Negativity In The United States
http://www.coloradodreamhouse.com/index.php/news/ Lately it seems that real estate buyers are looking for any reason NOT TO buy a home as they pick it a part piece by piece. What happened to the days when people looked for reasons TO BUY a home? In this weeks' market update for Denver, Colorado Denver Post columnist and Fuller Sotheby's agent Dan Polimino tells us people look for reasons NOT TO BUY a home because of mass negativity today in the United States. To find out why Dan thinks this watch this week's market update.
Mass Negativity In The United States
http://www.coloradodreamhouse.com/index.php/news/ Lately it seems that real estate buyers are looking for any reason NOT TO buy a home as they pick it a part piece by piece. What happened to the days when people looked for reasons TO BUY a home? In this weeks’ market update for Denver, Colorado Denver Post columnist and Fuller Sotheby’s agent Dan Polimino tells us people look for reasons NOT TO BUY a home because of mass negativity today in the United States. To find out why Dan thinks this watch this week’s market update.
Monday, November 1, 2010
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled “No Good Options, Part One†at http://ow.ly/32zW6
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled “No Good Options, Part One†at http://ow.ly/32zW6
Check out my latest real estate blog ...
Check out my latest real estate blog entry titled “No Good Options, Part One†at http://ow.ly/32zW6
No Good Options, Part One. By Dan Polimino. > Your Voice > Blogs > Denver > YourHub.com http://ping.fm/cQj9c
No Good Options, Part One. By Dan Polimino.
Over the last 18 months to two years, I have heard people talking about the fact that there are “no good options for them to stay in their homes.” I have heard horror stories about having to deal with the banks on these issues. I have heard about people being so upside down that there was no other choice than to walk away from their home. I have heard that the bureaucratic process to get some relief is impossible to overcome and I have heard that the solutions the government and banks are offering are really no solution at all.
So as a good journalist, I decided to do a little investigating on my own. Wells Fargo holds the mortgage on my home so I decided to call them up and see what my options were to get some relief on my mortgage. Now of course, I can pay mortgage, I have been paying my mortgage, I have never been late, and never missed a payment, but I wanted to find out what people are talking about and what they are going through so I pretended that I needed some help.
First, I went on the Wells Fargo website and obtained the payoff statement on my mortgage. On that site, they ask you if you would like someone from Wells Fargo to contact you about refinance. I said yes. I waited two weeks and no one contacted me. I went back on the site, repeated the process, and waited another two weeks. Still, there was no contact from Wells Fargo. I called their refinance department, waited on hold forever, and in a short amount of time figured out that I would not be able to refinance. Wells was willing to do what they call a streamline refinance with no appraisal. Problem is, they charge you 2.2 percent of the value of your home as a fee that needs to be paid at closing. You cannot roll this cost into the loan and it must be paid in cash at closing. I can tell you that my home is worth about $340,000 so 2.2 percent is about $7,500. The refinance was going to save me $147 dollars a month. Do the math on that! It costs you $7,500 to refinance. You save $147 dollars a month. It takes you four and a half years to get the $7,500 back and then after that, you start saving money. Better yet, I asked the guy on the phone that if I am in financial trouble and need relief on my mortgage, “Do you think I have $7,500 in cash to refinance?” He said, “Probably not.” I told him that was a good guess. So refinancing was out and I asked what he suggested I do next.
Join me next week when we tackle part two of the story. The representative at Wells Fargo suggested that I speak with the Loan Modification Department. You’ll be interested in finding out how that went.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Click here to Get started searching for YOUR Colorado Dream Home.
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