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Highlands Ranch Golf Club Real Estate - Highlands Ranch Real Estate

   

Market Updates


·         Over 3,000 homes sold in the last year for under $85k. 3 years ago this number would have been under 100 homes sold.

·         A full 25% of the market was for homes priced under $135k!

·         Look at the shortage of inventory of homes priced under $210k.

·         Even a $300k home is in a seller’s market now.

 

Financial News Update

 

·         The Dollar rallied on Monday after comments from Russia’s finance minister confirming the Dollar’s dominant position as the world’s main reserve currency.

·         Philly Fed Index on manufacturing increased to <2.2> from <22.6> in May.

·         NY Empire State Index on manufacturing dropped to <5.1> from <4.55>.

·         In May industrial production dropped 1.1% and capacity utilization dropped .7% to 68.3%.

·         Housing starts surged up 17% in May and permits increased 5%.

·         Producer Price Index up .2% in May and the Core PPI dropped .1%. In the last year, the PPI has dropped 5%; the Core PPI is up 3%.

·         Consumer Price Index up .1% in May and down 1.3% for the last 12 months, the biggest drop since 1950.

·         Core CPI up .1% in May and up 1.8% for the last year which is perfect.

·         Continuing unemployment claims dropped 148k this week to 6.69 million. This was its largest weekly drop since 11/01.

·          Leading economic indicators increased 1.2% in May after rising 1.1% in April. This report is designed to predict future economic activity in 6 to 9 months

·         CO’s unemployment rate in May increased to 7.6% from 7.4% in April. The national unemployment rate was 9.4% in May.

·         The Treasury said that in April foreign investors bought only $11.2 billion of L-T Treasury Securities down from $55 billion in March. This is NOT a good trend if it continues.

 

Great Rate Update

 

·         Conventional 30 year fixed with 20% down-5.50%

·         FHA 30 year fixed with 3.50% down-5.75% (rate is 5.50% if we have 45 days till closing)

·         Jumbo 5/1 Interest Only ARM with 25% down-4.50%

·         Jumbo 30 year fixed with 20% down-6.25%

 

This week has been a very volatile week for Mortgage Backed Securities or mortgage bonds. It reminded me of Denver’s weather-wait 10 minutes and it will change again.

 

On Monday morning the 4.50% bond opened at $98.28 and on Wednesday morning the price hit $100.18 before the market crashed. This morning prices had dropped to $97.68, a 250 basis point drop in 2 days after rising nearly 200 bps the previous 2 days. Today, the 4.50% ended up 38 bps on the day to close at $98.62 close to where it ended last week. Whew!

 

The Treasury announced they will sell $104 billion of new 2, 5, and 7 year Notes. Thus, long-term bonds could be hurt by all this new supply of debt and mortgage rates could rise.

 

Emergency Weather Alerts on Your Cell Phone

 

With all the turbulent weather we have had recently I discovered you can receive emergency weather alerts on your cell phone and by email. Speaking of turbulent weather we saw a funnel cloud on Sunday from the right field bleachers of Coors Field.

 

If you live in Jefferson or Broomfield County or the Roxborough area you can register for this free service at www.Your911.org. If you live in other counties call your local fire or police department to see if they offer something similar.

 

Loan Updates

 

·         Some good news from FHA, beginning October 1st FHA is eliminating the 1 year waiting period on condo conversion projects. In the past to obtain a FHA loan on a condo conversion project the project must have been completed for 1 year. NO MORE! Yeah!

·         Wells Fargo now requires on all condos a 75% owner occupancy rate! The gold standard for years has been 51% and this year Fannie and Freddie eliminated this rule if the subject property is a primary residence or second home. But, not Wells Fargo. This is a very tough standard to meet and I can tell WF does not want to lend on condos. So, if you have a client wanting to buy a condo don’t use WF.

 

Quote of the Week-"Character is the ability to follow through on a resolution long after the emotion with which it was made has passed.--Brian Tracy

 

 

Recently,  the Today Show interviewed a real estate expert, Barbara Corcoran, who talked about her top 5 picks for the best cities to buy real estate in RIGHT NOW! She looks for 8 characteristics in each city and they are-

·         Good job growth potential

·         Growing population

·         Good weather

·         Lots of first time home buyers who can afford to buy

·         No overbuilding of homes

·         Vital downtowns

·         Well educated population

·         Large number of foreclosures early on

 

Boy, this sounds like Denver to me! Here are 3 great quotes from her-

·         "Denver is clearly on a rebound."

·         Denver is "the perfect real estate success story."

·         "Everything in Denver is pointing up, up, up."

 

She went into greater detail of why she likes Denver so much with these comments-

·         She went on to note that DENVER has a vibrant downtown

·         A high employment base

·         Highly educated residents

·         The nation's largest public park system

·         We led the nation in foreclosures early on and our foreclosure rate is now dropping.

·         The Today Show host remarked as well about our great weather.

 

To see the video for yourself, click below

 

http://www.gawkk.com/housing-markets-most-likely-to-rebound-fail/discuss

 

Barbara Corcoran is the founder of the Corcoran Group, New York´s premiere real estate brokerage, and she is known as one of the most powerful brokers in the country.

Highlands Ranch,

founded in 1981, is a 22,000-acre master-planned community. The community boasts a population of 90,677 in 29,089 single family homes and 3,305 apartments. Highlands Ranch is located 12 miles south of Denver in Douglas County and has an elevation is 5,682 feet. Highlands Ranch offers a wonderful quality of life and opportunities for an active lifestyle with 300 days of sunshine per year for outdoor recreation and 4 first-class recreation centers and many community events and activities. With most amenities within walking distance it is an ideal place to raise a family. Highlands Ranch, CO has ranked twelfth in the Money Magazine list of the Top 100 Best Places to Live in the USA. Published in its August issue, Money Magazine based its rankings on data related to the following community    categories: Financial, Housing,Education, Quality of Life, Leisure and culture, Weather,Health,Meeting the Neighbors.


Highlands Ranch Golf Club

           

                                                    
 Highlands Ranch is one of the most successful planned communities in the nation. The master plan for the community was approved in 1979 which included 13,000 acres approved for open space, parks, trails, and community facilities.  Convenience is one of the trademark features of Highlands Ranch. Recreation, shopping, and dining are within 5 minutes to most residences. Three recreation centers offer pools, gyms, meeting rooms, and tennis courts. Park Meadows Mall, with four large department stores and over 100 specialty stores, is an exciting place to shop and dine. Restaurants abound within the community from ethnic to home style.

Located 12 miles south of Denver along C-470 and approximately 1 mile west of Interstate I-25, Highlands Ranch is a popular neighborhood. Highlands Ranch offers a diverse range of housing, from condo/townhomes to multi-story mansions. Impressive
amenities include a network of outdoor recreation spots, over 40 miles of paved trails, 15 parks and more than 1,900 acres of open space complete the Highlands Ranch community.

                            



                                     



        




The Weimer Team



The Weimer Team
is giving away
2 Custom Holiday Baskets
filled with goodies for you
and your family!!



Register by Nov. 27, 2008


Congratulations to the
winners of the 
Gift Baskets!!

Bill & Lena Thompkins

Mark & Mandy Andersen


Gary and Kathy Weimer GRI CRS
RE/MAX Professionals
1745 Shea Center Dr Ste 110
Highlands Ranch, CO80129

Business: (303) 791-6901
Fax: (303) 470-9760
E-Mail
: kathy@weimerteam.com
gary@weimerteam.com





                       



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