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  • Find Denver Area Homes Blog

    Friday, August 11, 2017   /   by Jester Rafols

    Freddie Mac to Restrict 1% Down Mortgages

    Mortgage financing giant Freddie Mac will begin this fall to tighten restrictions on low down payment mortgages that allow borrowers to only contribute 1 percent of the home’s purchase price. Borrowers will now be required to come up with at least 3 percent in order to then receive any contribution from a lender.


    Freddie Mac and Fannie Mae started the low down payment offerings in 2014 by rolling out 3 percent down mortgages. Some lenders—like Quicken Loans and Guaranteed Rate—then rolled out mortgages with down payments as low as 1 percent. With those programs, the lender “granted” 2 percent of the down payment to the borrower and added that to the borrower’s 1 percent contribution. They then arrived at the 3 percent needed to qualify for a Fannie or Freddie low down payment mortgage. Under the new guidelines, however, such ways to arrive at 3 percent down payment will no longer be permitted.
    “Gifts or grants from the seller as the origi ...

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    Tuesday, August 08, 2017   /   by Jester Rafols

    Home prices up again, fewer homes sold in July

    Average home prices in metro Denver increased 9.5 percent year-over-year in July to $449,054, according to new data from the Denver Metro Association of Realtors.
    That figure includes both detached single-family homes and attached condos and townhomes.


    Detached homes alone averaged a selling price of $496,382, an increase of 8.4 percent, while condo prices averaged $342,187 in July, up 13.6 percent from the year before.
    In the market overall, inventory ticked down in July, with active listings decreasing by 1.5 percent to 7,352, a new record low for inventory in July, said Steve Danyliw, chairman of DMAR's market trends committee.
    The number of sales that occurred reflected the lower inventory, with a dramatic month-to-month drop in the midst of the summer selling season.
    "The number of sales dropped 19.6 percent from June," Danyliw said. "This is significantly higher than our normal seasonal decrease of 5 percent. Like sales, under-contracts also experienced a higher tha ...

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    Tuesday, August 08, 2017   /   by Jester Rafols

    Home prices up again, fewer homes sold in July

    Average home prices in metro Denver increased 9.5 percent year-over-year in July to $449,054, according to new data from the Denver Metro Association of Realtors.
    That figure includes both detached single-family homes and attached condos and townhomes.


    Detached homes alone averaged a selling price of $496,382, an increase of 8.4 percent, while condo prices averaged $342,187 in July, up 13.6 percent from the year before.
    In the market overall, inventory ticked down in July, with active listings decreasing by 1.5 percent to 7,352, a new record low for inventory in July, said Steve Danyliw, chairman of DMAR's market trends committee.
    The number of sales that occurred reflected the lower inventory, with a dramatic month-to-month drop in the midst of the summer selling season.
    "The number of sales dropped 19.6 percent from June," Danyliw said. "This is significantly higher than our normal seasonal decrease of 5 percent. Like sales, under-contracts also experienced a higher tha ...

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    Tuesday, August 01, 2017   /   by Jester Rafols

    What $1 million can buy you in today's metro Denver housing market

    While average home prices continue to climb in metro Denver, inventory has picked up a bit in traditional summer selling-season fashion.
    That includes when it comes to homes priced at about $1 million, which run the gamut — from mansions in the more than 7,000-square-foot range, to penthouses in downtown Denver, to modestly-sized homes in upper-middle class communities throughout the region.


    To get an idea of how far your money goes in the metro's summer market, we rounded up million-dollar homes currently on the market in 23 metro Denver cities and communities: from Aurora to the east, Golden and Boulder to the west, Castle Rock to the south, Northglenn to the north, and everything in between.

    And in coming weeks, the DBJ will look at homes at other price points to illustrate buying power in the current market. Stay tuned.

    Click here for photos of homes price at $1 million
    Source: https://www.bizjournals.com/denver/news/2017/07/17/what-1-million-can-b ...

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    Monday, July 31, 2017   /   by Jester Rafols

    Rising rents in metro Denver? Here's how high they are now

    Average monthly rents in metro Denver rose to $1,419 in the second quarter of 2017, according to a report released today by the Apartment Association of Metro Denver.
    That's an increase of 3.5 percent over the second quarter of 2016, when the average rent was $1,370 per month, less than half the rate of increase between 2015 and 2016, when rents rose 8.3 percent year-over-year in the second quarter.


    Average monthly rents in metro Denver rose to $1,419 in the second quarter of 2017, according to a report released today by the Apartment Association of Metro Denver.

    That's an increase of 3.5 percent over the second quarter of 2016, when the average rent was $1,370 per month, less than half the rate of increase between 2015 and 2016, when rents rose 8.3 percent year-over-year in the second quarter.


    “We’re on pace to set back-to-back records for new apartment construction in Denver. That should reduce pressure on rents – though increasing demand may ...

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