Washington Report: Expansion of Tax Credit - Here’s something in the expanded program that hasn’t gotten much attention: The new $6,500 federal tax credit for so-called “move up” buyers took effect immediately upon enactment. That means that potentially hundreds of thousands of Americans who fit the key ownership and income criteria for the new credit are eligible for it … right now. What are those tests? 1) You have to have owned and used your current home as your principal residence for five consecutive years out the past eight; 2) Your adjusted household annual income cannot exceed $125,000 if you file taxes as a single, or $225,000 if you are married filing jointly. To qualify, you must sign a contract to purchase a replacement residence before next April 30, and go to closing on it by June 30, 2010. Although the $6,500 feature has been labeled the “move up” credit, there is nothing in the law forcing anybody to buy a bigger or costlier house. You can downsize or upsize and still get the credit.
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Real Estate Outlook: Recession is Over - The chairman of the Federal Reserve Board said it publicly - it looks like the recession is over. However, there was a big footnote in Bernanke’s speech on…
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Please watch me tonight August 16th at 9 p.m. on KDVR Fox31 Denver as I continue my crusade to educate consumers about mortgages and mortgage brokers.
by: auroraREguy
when: 5 hours ago
Please watch me tonight August 16th at 9 p.m. on KDVR Fox31 Denver as I continue my crusade to educate consumers about mortgages and mortgage brokers.
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Fewer US home sellers cut asking prices in July - Denver and Raleigh-Durham, North Carolina, had the smallest price cuts, with list prices in both metro areas cut on average by 5%, according to…
Fewer US home sellers cut asking prices in July - Denver and Raleigh-Durham, North Carolina, had the smallest price cuts, with list prices in both metro areas cut on average by 5%, according to ZipRealty. Markets with the lowest percentage of price-reduced homes were: Denver - 31.7%; Bakersfield/Fresno, CA - 35.2%; and the San Francisco Bay Area - 37.7%, indicating that prices in these real estate markets may be stabilizing.
http://www.reuters.com/article/bondsNews/idUSN0633888220090806
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Despite struggling economy, Denver still attracts business - Metro Denver’s solid reputation as a great place to live means the business and economic climate will be on the rebound sooner than most…
Despite struggling economy, Denver still attracts business - Metro Denver’s solid reputation as a great place to live means the business and economic climate will be on the rebound sooner than most locales across the nation, according to a new economic summary. The summary data was recently compiled for August by the Metro Denver Economic Corporation (Metro Denver EDC). “We are continuing to report a better-than-average outlook for Metro Denver’s economy,” Tom Clark said, executive vice president of the Metro Denver EDC. “We have done a much better job at diversification of our economy in sectors on the cutting edge for long term growth.” Colorado is a leader in the growing areas of Internet technology, aerospace and alternative energy.
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Report: Colorado, Denver outperform nation on home-resale prices, an article from The Denver Business Journal, reports that both metro Denver and the state of Colorado outperformed most of the rest…
Report: Colorado, Denver outperform nation on home-resale prices, an article from The Denver Business Journal, reports that both metro Denver and the state of Colorado outperformed most of the rest of the country when it comes to prices of home resales. According to the LoanPerformance Home Price Index (HPI), the Denver-Aurora-Broomfield area had one of the lowest decreases in home-selling prices at 1.86% in May year over year. Month over month, the Denver area showed a .49% decrease in home prices in May. Colorado as a whole posted one of the smallest decreases in home selling price a few months ago, at 3.34% year over year.
http://www.bizjournals.com/denver/stories/2009/07/20/daily55.html
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Real Estate Outlook: Buyers Getting Message, an article from Realty Times, reports that continuing declines in mortgage rates and signs of home price pick-ups dominate this week’s economic outlook…
Real Estate Outlook: Buyers Getting Message, an article from Realty Times, reports that continuing declines in mortgage rates and signs of home price pick-ups dominate this week’s economic outlook for real estate. Thirty-year, fixed-rate mortgages averaged slightly over 5% last week, according to the Mortgage Bankers Association. Last week, new applications to buy houses and condos jumped by 9.4%, while refinance applications were up 18%. The home price index that tracks more zipcodes and neighborhoods than any other - the Integrated Asset 360 index - found that prices nationwide moved up by 1.6% in May, based on data from more than 15,000 sub-markets. IAS said the increase in prices was the largest recorded by the index since July of 2005. Prices in Denver were up by four tenths of a point.
http://realtytimes.com/rtpages/20090721_realestateoutlook.htm
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Job growth, tourism bright spots for region’s economy, an article from The Denver Post, reports that solid job gains and encouraging tourism indicators are good news for Denver’s economy. In May,…
Job growth, tourism bright spots for region’s economy, an article from The Denver Post, reports that solid job gains and encouraging tourism indicators are good news for Denver’s economy. In May, metro Denver’s labor market numbers fared better than state and national trends as 12,000 jobs were added. The increase was basically consistent with seasonal norms. If forecasts for the just completed Independence Day travel hold true, Colorado and the West may be one of the only U.S. regions to report an increase in July 4th tourism this year. “Colorado consumers are definitely feeling better about their situations overall. We’re seeing a trend that many citizens are exploring Colorado and spending their vacation money locally, which is very positive for our businesses,” explained Metro Denver EDC Chief economist Patty Silverstein.
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“We must be free not because we claim freedom, but because we practice it.” -William Faulkner
Happy 4th of July!
by: auroraREguy
when: 8 min. ago
