HOUSES FROM HELL

 

Anyone that’s been in this business for a while has a few horror tales to tell.  HOUSES FROM HELL mirror “the Money Pit.”  You keep finding stuff wrong or things keep going “wrong” with your home, rehab and repairs.   

 

Here’s my House from Hell (circa 2003):  Usually, you can accommodate an extra expense or two, rarely do you get a double whammy, or a quadruple: new roof, new furnace, new electrical, and new plumbing.  As an added bonus, the furnace ducts were asbestos (I thought they were OK if you didn’t “touch them,” we had to connect them to the new furnace so they had to go…I was “touched!”).  I learned a lot and became more careful with my inspections.

 

Bottom line, learn from your mistakes AND your “victories.” Lessons are everywhere, don’t ignore them, learn from them!

 

Because you didn’t ask, here’s the top 11 quickest home selling cities in America (note, Denver is #3 with median DOM of 66).

 

This is no surprise to us: Discounted Prices Chip Away High Inventories.  There is a glut of foreclosures in Detroit, Las Vegas, Miami, Phoenix and Tampa (investors have reduced the glut by 13% in these cities year over year!).

 

Cheaper to buy than rent?  Top 3 are Las Vegas, Phoenix, and Arlington, Tx.  Cheaper to Rent than buy? Top 3 are New York, Fort Worth, and Kansas City.   

 

It’s that time again.  We take a tour around our country for properties priced at $30K and below:

 

(BOLD have gone up in past 2 months, note that most have gone down)

 

Atlanta 2,607	Birmingham 656	Dallas 332	Houston 357
Chicago 1,228	Miami 767	Tampa 871	Orlando 533
Detroit 6,034	Phoenix 660	Minneapolis 172	St Louis 744
Kansas City 587	Philadelphia 541	Pittsburg 678	Baltimore 726
DENVER 38	Cincinnati 738	Cleveland 1,061	Las Vegas  508
Indianapolis 551	Charlotte 274	Nashville 67	Memphis 614
Milwaukee 321	Oklahoma City 149	New Orleans 102	Omaha 163
New York 96	Jacksonville 395	Grand Rapids 418	Columbus 596

 

                                   

The latest MORTGAGE RATES: 30 Year fixed at 4.76% and 5/1 ARMS at 3.30%. Interest Rates are wobbling but still close to historic lows.

 

REAL ESTATE WEATHER REPORT

 

What trends are we seeing locally?  Rent rates continue to rise (signs and Craigslist rule!).  It appears that more SFH are selling.  We’re getting some great deals on condos (see inventory below); what with FHA occupancy requirements and HOA requirements, it’s getting harder and harder for potential buyers to get condo loans, especially under $50K and in high rental neighborhoods (50%+).  The viral spiral continues with no relief in sight.  Great opportunities for the investor.  My cash flow standard has always been $200+/mo. Guess what?  The standards bar has been raised. Who would have thought we could get cash flows over $400 on SFH and condos?  How long will this last?  Looks like a few years based upon projections and economic stagnation. Gosh, somebody has to take advantage of this….

 

For you ANALYSTS out there, here’s intel from Colorado Housing Division:

·         Denver home prices down for eighth month

·         Rental vacancies fell while rents increased

·         Denver apartment vacancies fall to ten-year low

Does it get any better than this?  Stay tuned!

 

For the passive investor, we have some rented investment properties not listed below (Lakewood condo, Thornton SFH) that cash flow well at aprx 10 cap. Contact us for more information.

 

Please register for our FREE Investor Success Summit, May 7, 2011.  Make the commitment.  Treat yourself to a day of no-cost education and networking!

 

Got your finger on our real estate market pulse? Call us with tips, rumors, conjectures, and cold cases (we’re thirsty!). We appreciate your feedback on Newsletter / Blogs and Breakfast Club (next meeting is May 14) meetings.   Thank you all for your news tips and leads!  If you’re not on our list and want to be, LET US KNOW.  Call, Write, Text, Tweet, Facebook (yeah, it’s a verb!),E-mail, drop by. Thank you for helping us help you!  

 

INVENTORY  

 

Wholesale properties are moving (WHEN THEY MAKE SENSE!). Our inventory is varied and diverse! We are getting great deals!!!  And we’re close to more: single family, condos, and multi’s. Let us know what you’re looking for.  We just might have something just for you!   

 

Call us, 303 338-8000, for more information or with questions. FU and ARV are estimates. Actual results may vary (is that small enough?).  We post ‘em when we get ‘em so bookmark or TWITTER or TEXT:  

 

TWITTER or TEXT. Read the side bar (top left). If you don’t want to tweet, follow the instructions and we can send you a text message.  You’ll be notified when we put a new property up onto our website.  Simple. One of our properties never made it to this blog/newsletter. It came and it went.

 

532 Oakwood Dr #B202. Castle Rock Condo. OK, it’s only 1 bed and 1 bath and Zillow is way off base with value estimate of $132K, but…for under $500 in fix/repairs this baby is ready to rent OR sell!  Buy this HUD for $28K (credit card?  Cash?  IRA? Pick your money source).  Looks like this will cash flow over $400/mo as a rental OR you can offer this as a Contract for Deed or Lease Option.

 

381 S Ames St, #B205. Lakewood (I’ll take door number 2, Alex!). Take this 2 bedroom, 1.5 bath, 1-car detached garage Lakewood HUD condo for $34K. Light fix at $2.5K. Expect strong cash flow with strong rental.

 

18394 E Oregon Pl, Aurora. Surprise! Another HUD…this one’s in Aurora Highlands. Buy this 4 bedroom, 2 bath, 2-car attached garage house on a huge lot (1/3+ acre) for $92K and fix to flip for under $20K.  

 

1422 Quivira Dr, Denver. Aka Thornton.  Buy this 4 bedroom, 2 bath, 1-car garage house for $92K and fix for $27K.  Set up with non-conforming Mother-In-Law area.

 

10021 Umatilla Way, Thornton. 3 bedrooms, 2 baths, 2 car attached garage. This HUD is yours for $111,800 and fix for $19.5K. Great curb appeal, great neighborhood, great flip.

 

4657 Columbine St,  North Denver. Buy this 3 bedroom, 1 bath & garage HUD house for $54K, fix it for $9.5K and rent it for $950/month.  Expect around $500/mo cash flow! It will flip but rent is best strategy right now.  This was flipped a few years ago so it doesn’t need much!  Swansea is getting stronger every day, so are rents.

 

6531 Monaco St, Commerce City. 5 bedrooms, 2 baths and a garage. Buy this HUD for $57K and fix for $19.5K to flip or $13K to rent; should cash flow around $500/mo! Where else can you get a 5/2/1 for $57K (besides Phoenix, that is)?

 

195 Stuart St, West Central Denver. Buy this 3 bed, 1 bath home in high demand area for $65K, fix to rent for $10K or flip for $20K. You’ve got to see the brick liquor wall!  

 

3156 S Clarkson St, Englewood. REDUCED! Near Swedish Hospital. Buy for $142K and turn into a 4/3/2 (1330′ up and 649′ down) with new garage on this huge lot for under $50K. New sewer line. Great opportunity, seller motivated so reduced price!  

 

832-834 S Osceola St, Southwest Denver.  DUPLEX. 2 bedrooms, 1 bath, each. Fully rented: $1450/mo. No initial maintenance. Yours for $127,500.  For the passive investor who doesn’t want to paint, or plaster, or plumb, or phool around!

 

Bon Homepetit!

 

John Fisher

www.happycanyongroup.com

303 338-8000

 

QUOTE OF THE WEEK:

“Lessons learned are like bridges burned, you only need to cross them but once.”  ~Dan Fogelberg

HOW CAN I BE SURE?

 

Who can you trust?  How do you know?  Whether it’s politics or a real estate deal, you must do your diligence.  Perception is reality. Never forget that. Maybe the “truth” really does not matter.  Who’s fooling whom?  Usually, the best we can do is to listen to our “gut,” weigh whatever “evidence” and “facts” we have, and make the best decision or choice we can.  This can be very hard if your dominant personality is that of an ANALYST;  you may never get enough information.  Trust your instincts.  If it does not feel “right” don’t do it. Simple. Be focused and be careful.  It may be easier than you think to take the “right road.”

 

From the Goose and Gander department:  BofA gets high return from Fed while paying low return to customers!  It’s nice work if you can get it; who said things were fair?

 

Here’s an interesting explanation on the differences and merits of a Mentor, Teacher, and a Coach, courtesy of Steve Blank with Huffington Post.

• Teachers, coaches and mentors are each something different.
• If you want to learn a specific subject find a teacher.
• If you want to hone specific skills or reach an exact goal hire a coach.
• If you want to get smarter and better over your career find someone who cares about you enough to be a mentor.

FICO has a new algorithm that predicts the likelihood of homeowner walk aways. If you were late 30 days on your mortgage, you used to get dinged 30-40 points; that ding is now a dent approaching 100 points!  AND that late payment stays on your record for 7 years! Don’t be late!

 

The Double Dip turned into a Blip.  Much to our surprise, our national real estate market did a spring bounce instead!  Encouraging!

 

How are we doing with foreclosures?  Per RealtyTrac, Vermont still leads the nation with the lowest rate, 1:52374 while Nevada has the highest: 1:88. Colorado is still high (although many dispute RealtyTrac’s accounting system): 1:452.

 

The latest MORTGAGE RATES: 30 Year fixed at 4.78% and 5/1 ARMS at 3.31%. Interest Rates are wobbling but still close to historic lows.

 

REAL ESTATE WEATHER REPORT

Wow, this has been quite a month.  After a long deal drought (we have our standards!), we are getting terrific wholesale deals (count ‘em: 10), nearly all Single Family Homes.  Some work best as keepers/rentals, others as flips, and others work no matter what.  We have a cheap condo ($31K), a moderate expensive condo ($128K with ARV of $200K), some cheap rentals that will cash flow ($500/mo), even a steal in Parker ($115K in Cottonhood).  We have properties all over the metro area (6 different cities: how ironic, none in Aurora!). Call us for access info and take action.  

 

“MOVING” is the word for Denver Real Estate. Rentals are moving, buy/holds are moving, flips are moving.  Even lender loans are moving.  Don’t get lost in the linguini, do your research and get the deal done!   

 

Conventional lenders have money, construction lenders, and hard money lenders do, too!  There are a few 20% down deals out there. There are also No Money Down Deals (if you structure your deal correctly). Interest rates run around 5-5.5% for NOO (non-owner occ).  Rentals are easy to lease.  What’s not to like?  Well???

 

Contractors are getting busy. So are we. Take advantage of this opportunity. Take a house or two or three!

 

REMINDER: Please register for our FREE Investor Success Summit, May 7, 2011.  We expect a full house so make the commitment.  You cannot afford not to! Great content, great information, great speakers, great panels (lender and landlord).

 

DENVER  Real Estate Agent Loses License for Not Presenting Offer.  A local agent failed to present an offer, bought the property at foreclosure auction, and sold it to the offering party. How slimy!

 

Got your finger on our real estate market pulse? Call us with tips, rumors, conjectures, and cold cases (we’re thirsty!). We appreciate your feedback on Newsletter / Blogs and Breakfast Club (next meeting is May 14) meetings.   Thank you all for your news tips and leads!  If you’re not on our list and want to be, LET US KNOW.  Call, Write, Text, Tweet, Facebook (yeah, it’s a verb!),E-mail, drop by. Thank you for helping us help you!

 

INVENTORY  

 

Wholesale properties are moving (WHEN THEY MAKE SENSE!). Our inventory is HIGH HIGH HIGH ; we are getting great deals!!!  And we’re close to more: single family, condos, and multi’s. Let us know what you’re looking for.  We just might have something just for you! 

 

Call us, 303 338-8000, for more information or with questions. FU and ARV are estimates. Actual results may vary (is that small enough?).  We post ‘em when we get ‘em so bookmark or TWITTER or TEXT:

 

TWITTER or TEXT. Read the side bar (top left). If you don’t want to tweet, follow the instructions and we can send you a text message.  You’ll be notified when we put a new property up onto our website.  Simple. One of our properties never made it to this blog/newsletter. It came and it went.  

 

9211 W Chatfield Pl, Littleton. Close to Ken Caryl. This HUD Townhome is 10 years old, has an “as is” FHA appraisal of $188K and the fix is around $10K.  Buy for $128K and flip it or hold it.  Your target buyer/renter is approaching retirement and wants something NICE, SWEET, and EASY!

 

5995 W Hampden Av #B7, Denver. This REO 1 bedroom 1 bath condo is close to Bear Valley Park and Greenbelt, between Sheridan and Wadsworth. Great SW Denver location. Buy for $31K with light fix (is $1K light enough?). Low HOA includes heat! Well managed, well maintained. So for about $32K, your HIT (HOA, Insurance, Taxes) costs will run about $200/mo and this will rent for $600-650/mo.  This will cash flow well!

 

2901 Richard Allen Ct, Denver. Just a few blocks from City Park and across from an elementary school.  Great bones. Buy this HUD 2 bedroom, 1 bath, 1 car attached garage for $96K and fix for $12K. ARV is $170K. Great deal! Flip this or rent it!!!

8408 Wild Alfalfa Place, Parker. Yup, Parker. Cottonwood.  Forbes: Douglas County 7th Richest County In Country  Buy this HUD for $115K.  Fix for $20K. Sell for an estimated sale price of $185K.  Fuchsia only goes so far! Lots of paint required.

10021 Umatilla Way, Thornton. 3 bedrooms, 2 baths, 2 car attached garage. Buy this HUD for $111,800 and fix for $19.5K. Great curb appeal, great neighborhood, great flip.

 

4657 Columbine St,  North Denver. Buy this 3 bedroom, 1 bath & garage HUD house for $54K, fix it for $9.5K and rent this for $950/month.  You should get around $500/mo cash flow! It will flip but rent is best strategy right now.  This was fixed & flipped a few years ago so it doesn’t need much! Swansea is getting stronger every day, so are their rents.

 

6531 Monaco St, Commerce City. 5 bedrooms, 2 baths and a garage. Buy this HUD for $57K and fix for $19.5K to flip or $13K to rent; should cash flow around $500/mo!

 

195 Stuart St, West Central Denver. Buy this 3 bed, 1 bath home in high demand area for $65K, fix to rent for $10K or flip for $20K. You’ve got to see the brick liquor wall!

 

3156 S Clarkson St, Englewood. Near Swedish Hospital. Buy for $146K and turn this 2 bedroom, 2 bath, 2 car garage house into a very marketable 4/3/2 including conversion (1330′ up and 649′ down) and new garage on this huge lot for under $50K. Has new sewer line. Great opportunity but must act quickly to close.

 

832-834 S Osceola St, Southwest Denver.  DUPLEX. 2 bedrooms, 1 bath each. Fully rented: $1450/mo. No initial maintenance. Yours for $127,500.  This is for the passive investor who doesn’t want to rehab anything!

 

Bon Homepetit!

 

John Fisher

www.happycanyongroup.com

303 338-8000

 

 

QUOTE OF THE WEEK:

“Knowing others is intelligence.
Knowing yourself is true wisdom.
Mastering others is strength.
Mastering yourself is true power.”

~Lisa Nichols

 

IT’S SPRING - THE HEAT IS ON & INVENTORY IS UP

 

Are prices heating up?  A political answer: “yes,” “no,” or “it depends.”  Pretty specific. What market are we talking about?  Oh, Our real estate market. General consensus is “no:”  “Prices are down 30% nationwide in the US. In Florida, Nevada, and most of California, they’re half off.” Bill Bonner, Daily Reckoning. Ouch!  Ok. Heating oil and petrol are “heating” up. Good thing weather is warming.  Many think oil prices will keep us from a recovery.  Where’s my bike?  All kidding aside, this IS serious and is reflected by investor hesitancy: let’s stand by and watch and wait.  Where’s the harm?  OK, I miss a great deal or two…(scroll down to the bottom and see our inventory, it is HEATING UP!), no big deal. Maybe not yet.  Consumer confidence mirrors investor reluctance. Much of our world is in financial turmoil.  I never thought I’d hear someone say “at least I didn’t LOSE money.” But it’s there. Where did all the optimists go (I know, they have a CLUB)?  We’re still here.  Remember, it’s gloomy if that’s what you see and want to believe.  For many investors, this is a terrific time to be active. What’s your excuse?

Bankrate.com covers the top city risers and fallers from last year to this year. I see no real pattern. Peoria is going up and Kankakee is going down?  They’re not that far from each other. Or Indianapolis up and South Bend is down. Logic eludes me.  Maybe it’s just the numbers. Hmm.  Maybe it’s the citizen’s confidence. Half empty or half full? You make the call.

 

It’s not all bad: South Florida Bank Repossessions Decline for First Time in Four Years. 

 

Or this: RealtyTrac: Foreclosure Activity at Lowest Level in Three Years.

 

Or: Fannie Mae Announces 3.5% Buyer Assistance on REO Properties. 

 

And finally,Looking at a Decade of Renters - How Can You Adapt?   “For people who can afford to purchase rental property, the timing has never been better. Home pricing is very low and we are looking at 10 years of the strongest rental marketing in decades.”  Wow, 10 strong years!  My faith is restored!

 

 The latest MORTGAGE RATES: 30 Year fixed at 4.87% and 5/1 ARMS at 3.50%. Interest Rates are wobbling but still close to historic lows.

 

REAL ESTATE WEATHER REPORT

Is our local industry gaining steam?  We get mixed reports.  Some areas are selling well, others are not.  How do you differentiate? Due diligence.  We know rental vacancies are down. We’re getting lots of Section 8 rental calls, too. See for yourself: drive around a few neighborhoods.  See what’s empty, see that rolloff in the driveway, see who’s rehabbing what.  That’s the best way to really get a grip (or handle) on our market.  You can only do so much at your desk and with your computer; we all need the exercise!

 

Douglas County Is Nation’s 7th Wealthiest, According To Forbes.  Almost enough to make you want to move.   

 

Denver Business Journal reports Colorado foreclosure filings are down 13.5% in past year! 

 

DRINK UP: they also report Colorado is 2^nd in nation (behind California) in craft breweries.

 

Got your finger on our real estate market pulse? Call us with tips, rumors, conjectures, and cold cases (we’re thirsty!). We appreciate your feedback on Newsletter / Blogs and Breakfast Club (next meeting is May 14) meetings.   Thank you all for your news tips and leads!  If you’re not on our list and want to be, LET US KNOW.  Call, Write, Text, Tweet, Facebook (yeah, it’s a verb!),E-mail, drop by. Thank you for helping us help you!

 

INVENTORY  

 

Wholesale properties are moving (WHEN THEY MAKE SENSE!). Our inventory is HIGH; we just got some great deals!!!  And we’re close to more stellar deals: single family, condos, and multi’s. Let us know what you’re looking for.  We just might have something just for you!   

 

Call us, 303 338-8000, for more information or with questions. FU and ARV are estimates. Actual results may vary (is that small enough?).  We post ‘em when we get ‘em so bookmark or TWITTER or TEXT:  

 

TWITTER or TEXT. Read the side bar (top left). If you don’t want to tweet, follow the instructions and we can send you a text message.  You’ll be notified when we put a new property up onto our website.  Simple. One of our properties never made it to this blog/newsletter. It came and it went.

 

10021 Umatilla Way, Thornton. 3 bedrooms, 2 baths, 2 car attached garage. Buy this HUD for $111,800 and fix for $19.5K. Great curb appeal, great neighborhood, great flip.

 

4657 Columbine St,  North Denver. Buy this 3 bedroom, 1 bath & garage HUD house for $54K, fix it for $9.5K and rent this for $950/month.  You should get around $500/mo cash flow! It will flip but rent is best strategy right now.  This was fixed & flipped a few years ago so it doesn’t need much! Swansea is getting stronger every day, so are their rents.

 

6531 Monaco St, Commerce City. 5 bedrooms, 2 baths and a garage. Buy this HUD for $57K and fix for $19.5K to flip or less to rent; should cash flow around $475/mo!

 

195 Stuart St, West Central Denver. Buy this 3 bed, 1 bath home in strong rental region for $65K, fix to rent for $10K or flip for $20K. You’ve got to see the brick liquor wall!

 

4804 Raleigh St, Northwest Denver. We finally couldn’t pass on this Berkeley beauty. Sure it’s very close to I-70, sure it has some settling. This had an April, 2020 FHA appraisal of $180K “as is.”  You can now buy this 4 bedroom, 1 bath, 1 car garage HUD home for $83.7K. Fix to flip could run $40K or $20K to rent. This unique property needs you to apply some logic and love!

 

3156 S Clarkson St, Englewood. Near Swedish Hospital. Buy for $146K and turn this 2 bedroom, 2 bath, 2 car garage house into a very marketable 4/3/2 including conversion (1330′ up and 649′ down) and new garage on this huge lot for under $50K. Has new sewer line. Great opportunity but must act quickly to close.  

 

832-834 S Osceola St, Southwest Denver.  DUPLEX. 2 bedrooms, 1 bath each. Fully rented: $1450/mo. No initial maintenance. Yours for $127,500.  This is for the passive investor who doesn’t want to rehab anything!

 

Bon Homepetit!

 

John Fisher

www.happycanyongroup.com

303 338-8000

 

QUOTE OF THE WEEK:  

“It makes no difference where you go, there you are. And it makes no difference what you have, there’s always more to want. Until you are happy with who you are, you will never be happy because of what you have.”  ~Zig Ziglar

SKIMMERS, SCAMMERS, AND SCOUNDRELS

 

There is  a whole lot of mischief going on in our marketplace.  Keep your guard up and your BS Meter running. Yes, it is buyer beware, but nowadays you have to be extra careful.  I hear stories of broken promises, misunderstandings, and apparent fraud by investors, realtors, mortgage brokers, title companies, virtually any position in our business. A little extra scrutiny may be required.  Unfortunately, a lapse (or blatant disregard) of ethics creates bad press and fishbowling for our industry.  Oh, the stories we could tell.  I am all for a level playing field but I see a lot of sneaking, wheeling and dealing that stinks! Bottom line, do the right thing and you’ll be fine!

 

Here’s an example of Wachovia/Wells Fargo breaking the law, making lots of money and being lightly spanked by the SEC. Who said crimes does not pay?

 

Are you an  ACCIDENTAL LANDLORD? Here are some tips for you!

 

Here’s a surprise:  Housing Crisis Causes Rising Rents, Declining Apartment Vacancies. Two ends of the spectrum: NYC has lowest vacancy rate and Memphis has the highest.

 

Runaround turns into $21M award. David Homeowner vs Goliath Megabank. David wins. It can happen!

 

Be glad this wasn’t your house:  SWAT Team evicts foreclosed home  squatters in Florida. We don’t make this stuff up! There’s even a video with this link!

 

Bats in the belfry or the foreclosed home?  Guano is not pretty! At least not in Georgia.

 

RealtyTrac’s top foreclosure cities: Las Vegas, Phoenix, LA, Chicago & Sacramento. How about BEST and WORST Foreclosure States? For the bonus round, take Vermont and Nevada.

 

The latest MORTGAGE RATES: 30 Year fixed at 4.89% and 5/1 ARMS at 3.51%. Interest Rates are slowly rising! 

 

REAL ESTATE WEATHER REPORT

Our dirty little secret isn’t a secret: there’s nasty things going on. Even in our backyard.  Owner occ HUDs going to investors continues (rumors run at 25% owner occs are investors using straw buyers).  Short Sales and REOs are going to lower bidders (isn’t it “highest and best?“).  Even PT Auctions have their “scandals.“  It can be a rough world out there.  Who says it has to be “fair.”  Ethics and morality take a backseat to greed and money.  It’s not just in our market, it’s everywhere.  Maybe it’s our culture.  Have you been the high bidder in an auction and failed to get the property?  Me, too.  Bank auctions have “hidden reserves” they don’t like to talk about.  How about a wholesale property that the seller does not control?  How can that be?  It happens.  Be wary, be diligent, be careful!

 

Our Breakfast Club meets tomorrow, April 9, 2011, 0700 at NY Deli News Restaurant on Hampden, ½ mile East of I-25.  Plan to attend and feed your mind and body!  This is one of the best real estate investor network events held in the metro area. Find out why!

 

ADAMS COUNTY LEADS THE NATION IN FIX AND FLIPS  reports RealtyTrac. Just under 26% of homes sold and resold within 6 months. “The nation’s top nine counties in tems of foreclosure-flip-sale percentage were in Colorado.”

 

Got your finger on our real estate market pulse? Call us with tips, rumors, conjectures, and cold cases (we’re thirsty!). We appreciate your feedback on Newsletter / Blogs and Breakfast Club meetings.   Thank you all for your news tips and leads!  If you’re not on our list and want to be, LET US KNOW.  Call, Write, Text, Tweet, Facebook (yeah, it’s a verb!),E-mail, drop by. Thank you for helping us help you!  

 

INVENTORY

Wholesale properties are moving (WHEN THEY MAKE SENSE!). Our inventory is LOW, LOW, LOW; most great deals move quickly; we’re always close to some stellar deals: single family, condos, and multi’s. Let us know what you’re looking for.  We just might have something just for you!   

 

Call us, 303 338-8000, for more information or with questions. FU and ARV are estimates.  Actual results may vary (is that small enough?).  We post ‘em when we get ‘em so bookmark or TWITTER or TEXT:  

 

TWITTER or TEXT. Read the side bar (top left). If you don’t want to tweet, follow the instructions and we can send you a text message.  You’ll be notified when we put a new property up onto our website.  Simple. One of our properties never made it to this blog/newsletter. It came and it went.  

 

832-834 S Osceola St, Denver.  DUPLEX. 2 bedrooms, 1 bath each. Fully rented: $1450/mo. No initial maintenance. Yours for $127,500.  Ideal for the passive investor who doesn’t want to work!

 

Bon Homepetit!

 

John Fisher

www.happycanyongroup.com

303 338-8000

 

QUOTE OF THE WEEK:  

“An ounce of action is worth a ton of theory.”  ~Ralph Waldo Emerson

INTEREST RATES CRASH TO 2%!!! 

 

Yes, it is April Fool’s Day and no, interest rates did not crash. Imagine the impact. Strange as it may sound, I really don’t think that would change our marketplace too dramatically.  Those with good credit get good loans (like they always have) and those with bad credit don’t.  It would be a bona fide bonanza for rentals and commercial properties. Alas, it’s not to be. Futurists believe we’re close to the bottom of the interest barrel…and my dad got a 5% mortgage loan in 1960 that was considered “good!”  Count your blessings.

 

Here are some interesting tips on RED FLAGS when selling your house:

1.    No photos

2.    Lack of details

3.    Hyperbole (”best on the market”)

4.    Price too good to be true

5.    The flipper (estimated 1/20 with proper permits)

6.    “As Is”

 

DO YOU GET DOWN OFF A DUCK? Nationwide RealtyTrac reports Homes Sold is DOWN, New Listings are DOWN, and Average Sales Prices are DOWN. Ouch.  Foreclosures sold are DOWN, New Foreclosures are DOWN (that’s not bad), and Foreclosure Average Sales Prices are DOWN.  Kinda makes you feel….uh…. DOWN… unless you are taking advantage of the DOWNS.

 

DID YOU KNOW?: Zillow and Trulia each have “apps” for iPhone and Android. So does Realtor.com.  There is no excuse for not having real estate information no matter where you are. I must be old: I remember when an “app” was an application for a rental…or a job!

 

Just so you know: Mortgage Interest Deduction (MID) is a hot topic as Congress debates modifying or eliminating the tax deductions associated with owning a home (better put, having a mortgage on a home). Here’s NAR’s take on the debate.

 

The latest MORTGAGE RATES: 30 Year fixed at 4.86% and 5/1 ARMS at 3.49%. Interest Rates are rising! 

 

REAL ESTATE WEATHER REPORT

Our local market continues to wind, twirl, bend, and belch as Spring and warm weather consumes us.  Great time to look at properties.  Some nights are now warm enough to cure exterior paint (minimum 35 degrees for at least 24 hours).  Time to get your lawn aerated and your sprinklers tuned.  Time to get that “flipper” on the market.

 

FOLLOW ME and one of its top students, JP Stonestreet, are featured in this latest edition of Denver PropertyInvestor.com.  The site is a great source of local real estate investor profile.

 

Craigslist: Sign of the Times. We recently listed a rental in Lakewood on Craigslist and put out a sign; guess which created more calls?  You guessed it; it’s obvious for that neighborhood.  It was about a 10:1 ratio over the sign.  Put that house in 80010 and the results would be the opposite.  Just sayin’.

 

While you were sleeping: Denver Metro Home Prices Down Year-Over-Year for Seventh Straight Month.  Click on link for more info from Case-Shiller report.

 

Got your finger on our real estate market pulse? Call us with tips, rumors, conjectures, and cold cases (we’re thirsty!). We appreciate your feedback on Newsletter / Blogs and Breakfast Club (next is April 9) meetings.   Thank you all for your news tips and leads!  If you’re not on our list and want to be, LET US KNOW.  Call, Write, Text, Tweet, Facebook (yeah, it’s a verb!), E-mail, drop by. Thank you for helping us help you!

 

INVENTORY  

 

Wholesale properties are moving (WHEN THEY MAKE SENSE!). Our inventory is LOW; most great deals move quickly; we’re always close to some stellar deals: single family, condos, and multi’s. Let us know what you’re looking for.  We just might have something just for you!  

 

Call us, 303 338-8000, for more information or with questions. FU and ARV are estimates. Actual results may vary (is this small enough?).  We post ‘em when we get ‘em so bookmark or TWITTER or TEXT:

 

TWITTER or TEXT. Read the side bar (top left). If you don’t want to tweet, follow the instructions and we can send you a text message.  You’ll be notified when we put a new property up onto our website.  Simple. One of our properties never made it to this blog/newsletter. It came and it went.

 

5130 W 6^th Ave, Denver. 3 bedrooms, 2 baths, 1+ detached garage. Lot is 17,500 sq ft. View of Hy 6, Wendy’s, and Sheridan. Would make a great rental or rent to own, especially for the hard of hearing. Buy this beauty for $84K, fix $15K for rental and up to $30K for a flip. Check this HUD out!

 

832-834 S Osceola St, Denver.  DUPLEX. 2 bedrooms, 1 bath each. Fully rented: $1450/mo. No initial maintenance. Yours for $127,500.  Ideal for the passive investor who doesn’t want to get their hands dirty!

 

Bon Homepetit!

 

John Fisher

www.happycanyongroup.com

303 338-8000

 

QUOTE OF THE WEEK:  

“Enjoy the little things, for one day you may look back and realize they were the big things.“~Robert Brault