Category: Mortgages 101

Real Estate Term of the Day: Foreclosure & Foreclosure Sale

February 27, 2015

Real Estate Term of the Day: Foreclosure FORECLOSURE – a legal process in which mortgage property is sold to pay the loan of the defaulting borrower. Foreclosure laws are based on the statues of each state (HUD) Here is a good outline of the Colorado Foreclosure Process via Boulder County: Mortgage payments are typically due on the first day of … More Real Estate Term of the Day: Foreclosure & Foreclosure Sale

UPDATED: Buyers! 10 Ways to Prepare for Offering on a Home in a Seller’s Market

February 12, 2014

Metro Denver’s inventory levels have hit record lows in 2013 and are expected to remain low into 2014.  The number of active single family home listings at the end of 2012 was  6,514 compared to 7,418 homes on the market at the end of 2013. Rising prices, historic low inventory levels and low interest rates are causing buyers to encounter multiple … More UPDATED: Buyers! 10 Ways to Prepare for Offering on a Home in a Seller’s Market

BUYERS: 10 Ways to Prepare for Offering on a Home in a Seller’s Market

December 5, 2012

Metro Denver’s inventory levels have hit record lows and are expected to remain low into 2013.  The number of active single family home listings (Jan 1, 2012 – Oct 31, 2012 compared to the same period for 2011) decreased 29.5% to 8,108.  Where as the number of active condo/town home listings decreased 39.3% to 1,611.  Furthermore, the ABSORPTION RATE for single family homes … More BUYERS: 10 Ways to Prepare for Offering on a Home in a Seller’s Market

Pre-Qualification vs Pre-Approval

December 3, 2012

If you are considering purchasing a home and require lender financing, it is important to know that there is a big difference between a pre-qualification letter and pre-approval letter. Pre-Qualification Pre-Qualification means there have been loan calculations made that show how much you “may” be able to borrow.  While pre-qualification can reduce the processing time for home loans, … More Pre-Qualification vs Pre-Approval