Forbes names Denver metro area one of top ten places where it’s better to buy than rent

Forbes magazine took a whole bunch of data, crunched it together and determined that the Denver metro area is one of the top 10 places in the US to buy a house right now because it’s a better buy than rent. (If you want to see the actual link to the Denver metro area you [...]

Recent changes to FHA loans

Not exactly certain when these changes will take place but it’s supposed to be “soon.”

If you have less than 20% down on a house you are required to get Private Mortgage Insurance and if you’re seeking an FHA loan you’ll have to pay an up front premium of 2.25% now instead of the previous 1.75%.

If [...]

First time home buyer tip #22

If you’re confused about the rules of lending and your home’s appraisal you’re not alone. Especially in this market! I have watched experienced home buyers and sellers get completely confused as well, so here’s the deal: let’s say you’ve made an offer on a house, the sellers have accepted your offer, your loan has been [...]

First time home buyer tip #21

Yes you should do a final walkthrough right before your closing. Even on a new house. It’s important that you double check everything that is supposed to be there is still there and the house is still in working order. It has nothing to do with whether or not you “trust” the seller – keep [...]

First time home buyer tip #20

ALWAYS, ALWAYS, ALWAYS get a professional inspection done on a house on which you have made an offer to buy AND make sure the completion of the sale is contingent upon a reasonable outcome of any inspection. (Meaning that if the house has way more problems then you realized or perhaps one very serious problem [...]

First time home buyer tip #19

If you decide to buy a home this year it might be a very good idea to hire an accountant to do your taxes, especially if you are confused as to exactly what and how much you can write off. The IRS (shockingly!) has a wide variety of rules and regs regarding how to handle [...]

First time home buyer tip #18

Demand excellence from your real estate professionals. Whether it’s your Realtor or your mortgage broker or lender. Remember they are working for YOU. You want someone who isn’t bothered if you have a zillion questions, and who promptly returns your phone calls and emails. If you do have questions, don’t hesitate to ask them, it’s [...]

First time home buyer tip #17

According to this article, the very best day of the year to buy a house is Christmas Day. I imagine this is true although as the author points out you’ll need someone who will agree to let you view the house on Christmas (although maybe you actually viewed the house on the 23rd or 24th [...]

First time home buyer tip #16

Did you know that Colorado ranks as the 10th highest state for closing costs? Ouch. But, did you know that you can negotiate some of these charges? Your lender or mortgage broker is required by law to provide a “Good Faith Estimate” of your closing costs within at least 3 days of accepting the loan [...]

First time home buyer tip #15

If you are active military, the first time home buyer tax credit contains additional provisions and extended deadlines just for you. If you were out of the United States for 90+ days anytime in 2009 your tax credit deadline is NOT April 30, 2010 but May 1 2011 instead. Also, you do NOT have to [...]

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