Denver Property Tour News
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Flip = CLOSED. Proving You Can Flip a House in ANY Market
After a few weeks of being under contract, the flip house was closed yesterday. Our purchase price was $125k with $32k in improvements, and it closed for $225k. Not bad for a few weeks of work.You don’t make your money when you sell your flip home; you make it when you buy it. Buying [...]
Flip Experiment Week 7???? It?s Under Contract!
Well after a few showings and several intersted parties, the flip is under contract. It is sheduled to close next month. Things are starting to pick back up as far as buyer activity goes. If you look at my last blog, I spoke about the market slowing down from “back to school” mentality. Now with concerns [...]
Where Have All the Buyers Gone in Metro Denver?
Has the market slowed down? You bet it has. Since mid August (Back to School Season), buyers in all price ranges appear to have gone into hibernation. I believe this is due to a combination of market pessimism, uncertainty concerning the extension and increase of the tax credit and the uproar over health care reform. The [...]
Foreclosure, Short Sale, & Bankruptcy?Go for the Trifecta
Are you in a financial funk? A melee of debts and reduced income? Not quite sure what your options are? It all depends on exactly what your situation is and who your creditors are. Let’s say for instance you were making money. And now you are not, and you don’t know how you will pay [...]
Day 15?. The Flip is Near its End
Everything is coming along well. I should have the finishing touches put on this week and am shooting to put it on the market by this Saturday. The new driveway and walkway were installed. The front and back decks are finished along with the exterior paint. New electrical has been put in. The interior is [...]
The Flip?.Day 8
Well there has been quite a bit of progress. The texture and drywall were finished tonight. We are in the rebuilding stage now. The back Trex deck is complete along with the new windows. I received a great bid on the driveway and walkway, so those are getting replaced this week. Paint and a new [...]
Can You Flip a House in this Market? A Flip Experiment?
Well folks, I am about 4 days into a flip and thought you all would like to follow it. The subject is a 3 bedroom, 1 bath ranch in South Denver. The purchase price was $125,000, and it should be on the market within three weeks. Here is a short list of what I am [...]
Taylor, Bean, & Whitaker is GONE?.How about MY MORTGAGE???
A quick followup to last months entry about loan modifications. If you are currently trying to modify your loan and your lender also sends you documentation to fill out for a short sale… Please be aware that by filling out short sale documentation and submitting it to your bank, you may have just killed your loan [...]
Dealing with a Loan Modification Employee or the Gas Station Attendant?
What’s the difference? Really? I, like the millions of real estate owning Americans whose homes are now worth 50% less than what they 5 years ago, have been attempting to either short sale or complete a loan modification(mod). Last week, when I filled my gas tank, I had a more meaningful conversation with the gas [...]
It?s Time to Stop Hating the 5 Year ARMs
Over the last several weeks, the 3 and 5 year ARMs have become increasingly competitive. Allow me to digress… Several years ago, the mortgage industry went through a transformation. The banks were printing money and lending it with little or no documentation. Anybody could get a loan and buy a house. Subprime lending allowing borrowers with [...]
