via Understanding Private Mortgage Insurance
Used to be that anyone putting less than 20% down needed private mortgage insurance to protect lenders against borrower default.
Until now. We have partnered with a global lending institution committed to offering up to 100% financing, will contribute up to $4,500 toward closing costs and does not charge PMI!
Too good to be true? We promise, it's not. Contact me for details.
via Housing in 2018: Where Are Home Values Headed?
Meeting about an assisted living facility we have under contract with a potential investor who has "8 million" currently earning a "guaranteed 5%", the inevitable subject of overvaluation came up, to which my response was, not quite.
Buoyed by many positive trends, such as the nation's first Olympic museum, projections of our being the nation's cyber security capital, expansion of direct flights to and from the Colorado Springs airport and more, there's also this:
Historically just a few years behind the Denver MSA, which may have plateaued as of this writing, it seems the Colorado Springs market has up to 5 years of upswing left.
Specializing in locating, analyzing, acquiring and management of quality rental assets, we are standing by and have significant experience helping investors build long-term wealth with real estate. Please contact us at 866-6REALTY or 303-242-2980 for the personalized attention you deserve.
via What Is Pre-Foreclosure and When Will Your House Be Repossessed?
Pre-foreclosure, Lis-pendens, default notice...these are not words any responsible homeowner wants to read or hear, no matter what. Suddenly faced with a loss of one's home and often largest asset, a pending foreclosure is not a situation anyone wants or even should handle alone.
When faced with such a crisis, it's important one engage the help of a qualified, licensed professional able to provide options that go beyond "we buy houses". Including a short sale, lease options and more, armed with enough information, a true professional will find there many ways to help a homeowner in distress delay if not avoid a foreclosure, if only they'd ask early in the process. Unfortunately, and though most who receive a pre-foreclosure notice will find a way out, too many that don't run out of time. No man is an island.
Atlas Real Estate Group
In one word, market conditions are robust. A proud member of Atlas Real Estate Group, the premier real estate investment company and brokerage team along the Front Range, I am often asked for an indication of the rental market in Colorado Springs. Here is a brief synopsis.
Market Conditions - Year over Year Rent Growth
At 11% according to Yardi®, we are top three in the nation when it comes to year over year rent growth, a finding consistent with what we see on a daily basis analyzing the market for our investor clientele. This is due to a myriad of factors, such as limited inventory, minimal construction activity and a level of population growth that has moved us up to being the nation's 40th most populous city and a "positive trajectory with respect to economic recovery and growth".
Market Conditions - Supply and Demand
The result of our robust market is high prices. This is bad news for wholesalers and flippers, a business model needing margins of 25% or better to make sense. Forced to seek elsewhere for the short term ROI they need, many are flocking to markets such as Indianapolis, St. Louis and others where housing prices are low enough to generate the profit margins they need. And this is where the downside takes a sharp decline.
Stepping over dollars for pennies, their capacity for building long term wealth is severely limited, as can be seen by much lower rent growth rates of 4.3% and 2.9% respectively.
Not to mention, and though cash is truly king in the rental game, appreciation cannot be overlooked. According to NeighborhoodScout®, Colorado Springs has shown an 8% in annual appreciation rate in the last 12 months, whereas Indianapolis, IN and St. Louis, MO show 4.73% and 6.14% rates respectively.
Market Conditions - Seeking New Clients
How's the market, you ask? Like Caribbean waters, warm and inviting. Come on in? Don't worry, no sharks allowed.
Energy Efficiency Assistance
As an incentive for new and existing homeowners to buy homes with high energy efficiency ratings or make upgrades (furnace, insulation levels, windows, etc.) to an existing home, the state of Colorado is offering up to $8,000!
- New or existing homes (existing homeowners OK)
- Lender must reserve the incentive amount before closing
- Energy upgrades completed within 120 days of purchase
Additional Down Payment Assistance Programs
There are hundreds, if not thousands of extra programs that help with adapting homes for folks with disabilities, down payment. closing and other costs. Check them all out here!