Welcome to Evergreen Guide & Blog. Here you will find up-to-date information about what is happening in Evergreen, Colorado. Use this resource to read about the latest news and events in Evergreen as well as information on schools, transportation, calendar of events, lodging, area attractions. non-profit news, the arts. Read first-hand reports from the people that live here of many other great activities and attractions in the Evergreen area.
Rate Watch - 3/10/08
March 12th, 2008CMA Update for 03/10/2008
Robin’s Cell: (303) 378-5973
Website
(1) Rate Watch:
Conventional 30 year fixed rates are at 6.125% today with a 1% discount point and 6.375% with NO discount point. We NEVER charge additional origination points, and our other fees at closing are $800.00 total. Wells Fargo Banking clients receive a $300.00 discount on closing costs.
(2) Market Liquidity:
the demand for mortgage money currently outweighs the supply on the secondary market. That’s why mortgage rates seem “high” relative to the markets. The government is currently working on a bond “Bail-Out” program to help fund the mortgage market, and we HOPE that will have a positive effect on rates. STAY TUNED THIS WEEK!
(3) Product Alert!
FHA loan limits in Jefferson, Park and Clear Creek County just increased to $406,250! (along with other counties in the Denver metro area). This will help buyers with little or no money down, first time homebuyers, and those with some past credit issues. FHA rates today on a 30 year fixed rate are 6.0% with a 1% discount fee, and 6.5% with NO discount point. Same fees apply as conventional mortgages!
FHA Loan Limits Increase for Evergreen, CO
March 6th, 2008Our in-house lender, Robin McGlone with Wells Fargo Mortgage, emailed information about FHA raising its loan limit amount for our area. Here’s the link.
Memo from Robin McGlone
Walk around Evergreen Lake
March 4th, 2008
Is A Reverse Mortgage In Your Future?
February 13th, 2008
Reverse mortgages, where you arrange for a lender to pay you monthly payments in exchange for a loan that grows over time, have been around for some time. They’re not inexpensive and there are criteria that must be met to qualify (for example, all occupants of the home must be 62 or better). Here’s a recent article that outlines things to consider if you (or your folks) are considering one. http://www.msnbc.msn.com/id/23133228/
Tupper
Economic Stimulus Package Becomes Law
February 12th, 2008Congress sent the economic stimulus package to President Bush and he signed it into law this week. In addition to putting as much as $600 each into the pockets of people who earned up to $150,000 last year, there’ll be accelerated write-offs for businesses that buy new equipment.
The biggest impact on the Evergreen/Conifer real estate market should be an increase in the loan limits for ‘conforming’ loans; anyone who needs a loan between $417,000 and approximately $660,000 will find it less expensive to borrow. The upper loan limits are still being worked out because a formula based on the average loan amount for the last 6 months will be used to determine the maximum conforming loan amount for each area of the country.
Economists are divided on whether the economy is already in a recession, but most agree that the stimulus package will help lift us out of whatever downturn we’re in. On the other hand, they don’t call economics the ‘dismal science’ for nothing and now economists are opining how the stimulus package may be too little, too late or that it simply delays the inevitable correction our economy must suffer through in order to wring out the excesses of the last few years.
Stay tuned.
Tupper
4 Signs The Housing Bottom Will Be Behind Us
February 7th, 2008If you read the cover article in our latest issue of Mountain Homes, you know that it’s our opinion you should strike now while the iron is hot to buy a home at the lowest price with historically-low interest rates. We indicated that there is no ‘official’ bottom to the market; no one will blow a whistle and say, “this is the bottom”. We’ll only know the bottom by looking back and seeing signs it’s past.
What are those signs? Here are 4 indicators:
1. Inventories will start to decline. Overall numbers of homes on the market will subside–and the most desirable home will leave the market first.
2. Days on Market (DOM) will decline. The MLS measures how long properties stay on the market and publishes an average DOM figure which we track each month.
3. Homes will sell for closer to asking price. The MLS also publishes “original asking price to selling price ratio” and “last asking price to selling price ratio” averages. The latter ratio should improve first and by the time the first ratio improves, we will have definitely turned the corner on the market downturn.
4. Incentives disappear. Sellers are currenly courting buyers with more than good prices; they’re offering to help pay closing costs, they’re throwing in extra inclusions, they’re being flexible with possession dates and so forth. Before prices start to firm, before DOM and ask price-to-sell price ratios start to fall and before inventories start to subside, sellers will refuse to grant incentives.
Watch for these changes in the marketplace and you’ll watch our market turn around.
Tupper
Colorado Is #4 in Attracting New Residents
January 31st, 2008Slow but sure wins the race. Positive news tidbits like the attached are what will position Colorado for a strong rebound when the nation’s economy improves over the next year.
http://www.bizjournals.com/denver/stories/2008/01/28/daily43.html?b=1201496400%5e1583775
Tupper
What’s in the Stimulus Package for You?
January 28th, 2008Here’s some preliminary info about how the proposed stimulus package that the administration and congress are working on now may shake out for you.
http://www.msnbc.msn.com/id/22847238/
Tupper
