With the increase of the price of homes over the last several years and perhaps the economic crunch hitting savings a bit, can this really be done?

Perhaps. It depends on you.

If you have been planning for this, keeping your debt low and credit history excellent then you really can buy your first home here.

Of course, what I run into often are people not satisfied with needing to start out in anything less than what mom and dad have, or friends, etc… This is where you need to look hard at the magic reality mirror and ask yourself what you can comfortably afford. I always say that it is better to hop on at the caboose than to miss the whole train.

Owning your home and building equity over time can do amazing things for your life. But you may need to buy something less than you imagined at first and build from there. Or maybe not. It depends on your financial situation. So once we realize that we aren’t going to get the same first time house our cousins did 8 years ago, are there affordable homes in this area for first time buyers? Yes.

There are real estate options in almost all areas of the south Denver metro area - Denver, Englewood, Littleton, Lone Tree, Highlands Ranch, Centennial, Parker, Aurora and even into Castle Rock - you have options! Some options are condo’s or townhomes, some are single family homes that may need some work or may be bank owned deals. It really depends on what level your first home will be. If you do decide to go the bank owned or short sale route, you are going to need to bring with you a whole lot of patience as purchasing a home needing bank approval on a contract can take much longer than one would like.

There are still so many financing options available, even with the recent credit crunch. You definitely need to be working with a trusted mortgage professional that will counsel you on the loan programs that will best fit your lifestyle and goals without stretching you too far.

Just remember what I said earlier, look for what you can comfortably afford, not as much as you can qualify for, there is a difference! If you need help finding a great lender, just let me know. I have established relationships with a number of mortgage pro’s that will do just that. Keep your best interests in mind and work to find you the best solution to owning your first home. Give me a call anytime, I’ll be happy to help. So get searching for your Denver dream home - yes, it may be a first time home, but you will still be living the dream of owning a home!

Vacant Homes For Sale Are Probably Not The Same As Occupied Homes In The Eyes of Your Insurance Policy

Recently we had breakfast at my mom’s.

The kids had slept over and we went over for some breakfast burritos when we picked them up. Thanks mom! My mom always has a little article or tidbit to share with me when we visit. She just rips them out of the newspapers or magazine that she finds them in. I love seeing what she has to share as its generally rather interesting and I enjoy seeing what sparked her interest. On this day, it was a real estate article as it often is. Common Interest.

She had read an article in the Denver Post a while back and had saved it for me. It discussed the dangers of having your home on the market while it was vacant. It was a good reminder that I should discuss this issue here. You can read the article here. Of course, there are many homes in Denver that are now being sold vacant due to longer times on the market, quick relocations and a variety of other reasons.

And I would be willing to bet that most of those homes that are vacant have homeowners that do not know that they are putting their home insurance policy on the line. If you have to make a claim while your home is vacant, you may not be covered. The majority of home insurance policies are for occupied or owner-occupied homes - and if you are leaving your Denver home vacant - you need to let them know and maybe even make a change.

Whenever I have a seller that needs to leave a home vacant while it is still on the Denver real estate market, I do remind them that they need to check into their home insurance coverage and see what changes need to be made. Recently I was told by the seller when discussing this, that over the years they had sold numerous homes that were in a vacant state and no one had ever told them this.

Now of course I am not an insurance expert. I am a Denver real estate agent. So you need to do your homework to know for sure what YOUR policy covers and when and under what conditions.

But I do know that the chances are pretty good that this is something you need to take notice of if you are going to be leaving your Denver home vacant while it is on the market. If you have pipes burst, a break-in or even worse, a fire, you need to know if your home is covered if it is vacant. Check it out.

Every now and then I get a call from someone either relocating to Denver or needing to leave Denver that is directly tied to a Corporate Relocation package. Some are past clients that I have sold Denver real estate to, others have been referred by my clients or found me in other ways. In any case, it seems that there is, at times some confusion tied directly to corporate relocation.

The number 1 question that is asked over and over: Do I have to use the Denver Realtor® that the Relocation company has suggested? And the answer is: probably not. I almost can say, that answer is no - but there are a few very unusual circumstances where that may not be the case - so we will leave it at probably not.

Now that doesn’t mean you shouldn’t. It just doesn’t mean you have to. Its your house, your transaction, your comfort level, your decision.

If you have a Denver REALTOR® that you have used in the past, that you were very happy with and you trust, there is no reason why you can not tell the relocation company that you would prefer to use them. Yes, the relocation company is going to ask that REALTOR® for a referral fee, and I can speak for myself that I do and have paid this fee at closing - that is how they partially fund your relocation in the first place.

Now its true, if you already knew the REALTOR®, they aren’t truly referring you - but that is how it is done - and that is fine. Its just the way it is. Would you receive any less service from me because I have to pay them? NO! I have even encountered from time to time that an individual has felt that they had to use someone the relocation company has suggested and has later been shocked to find out that is not the case.

There are a variety of reasons why someone may have felt that way, perhaps even a miscommunication - but the bottom line is - if you have someone you want to use - just tell them!

Now in the case of relocation out of Denver, often times the relocation company will want you to "interview" more than one agent before listing your home. In many cases this is the way that they get an accurate feel of how much your home is really going to sell for - by getting more than one opinion. They may even make a suggestion as to who they want for the listing.

But if you have a strong opinion one way or another - this is your chance to speak up and get the ball rolling. If you tell them, I want to use ___________, they most likely will be fine with that.

I have done many corporate relocations with all of the major relocation companies and am very familiar with their guidelines, forms, processes and all the additional pieces that in entails.

I am prepared to make your relocation in or out of Denver as easy as possible for you and if that involves a corporate relocation company - I am more than happy to work for you.

Denver Home Buyers - Use the Loan Officer Your Denver REALTOR® Recommends - They Do So For A Great Reason!

I write this to my future Denver real estate clients, and all of the clients of the world out there. In the last year or so, I personally have recognized a growing trend in my own real estate business. Many of my clients don’t seem to want to use the loan officer that I may recommend to them. And for the most part I don’t get it. Because of that, I have been involved in so many internet loan fiascos in the past 12 months than I care to remember, as recalling them just brings back the headaches.

So, just to clear a few things up. I recommend specific lenders for a reason. I like them. Why? Its not that I like them personally (Well, I do, but that’s not what I am getting at). I like them because they are good. They are not only good, they are great. I trust them, and I trust that they are treating you with the ultimate respect and honesty that you deserve. I know that they know their stuff - and these days, that is the ultimate. They are experts and highly knowledgeable. If they weren’t, I wouldn’t be using them.

Have you heard about all of the differing issues in the mortgage industry? I feel confident in my loan officers that you are not going to have to worry about that. Because they will make sure you are not getting in over your head, approved for more than you can handle, or in bad loans to begin with. All of that stuff that will keep you awake at night with a headache. And here’s another very important part of it -I have a great rapport with them. We have done business before and my high expectations are clear.

I know they are going to get me what I need, and when. I know I will have your pre-approval letter to submit with your offer. I know everything else will be in order. I know if there are any obstacles that arise, they will communicate them with me in a very timely manner. I know they are going to keep an eye on everything throughout the life of the contract. And I know they are going to call me back when I need something from them. I also know that they will call you too. I absolutely know they are good and I trust them.

I want to make something clear that I think sometimes people assume. I do not get a cut of anything from any lender I recommend. Do I get a referral fee? No way. Do I get trips to the Bahamas, uh, no. What do I get? I get the distinct professional pleasure of working with a very professional lender that I know will do a very good job for my clients and do everything in their power to get my client’s the best loan for them and make sure everything goes as smoothly as possible.

Just to clarify, every experience I have had with lenders new to me has not been a bad experience. In fact, I have met some of the ones that I now recommend in that way. But for the most part, when someone chooses a mortgage program or loan officer because it just seems so good - too good to be true, it usually is. And I can’t tell you how many times I have heard as we walked out of the closing room, Steve, I should have used your loan guy. Yeah, I wish you had too.

So here’s the bottom line. You hired me and trust me to be your professional. If I recommend a loan officer then understand it is because you hired me to look after your best interests. I believe the lenders I recommend have your best interest in mind and you’ll be thrilled in the end. Of course, you can look at a hundred other lenders if you would like, I would just prefer that you at least call my lender and get their plan as well. I believe that you will be thankful for that