Robert McGuire Denver Real Estate Agent

I just read this article below by Brian Petrelli on Trulia.com in reference to the January-February Denver real estate stats. I sending my own and other stats out to trumpet the fact that ‘now is the time’ if you have been waiting to purchase or waiting to put your home on the market. We are not hearing this from the local media. The message of the our is – ‘Go for it’!!

From The Denver Business Journal:

If February is any indication, 2012 is going to be a better year for home sales in metro Denver, according to a report released Monday based on Metrolist Inc. statistics.

The number of homes put under contract in February stood at 4,150, up 19 percent from the previous month and up 12 percent from the same month last year, according to the report by Gary Bauer, an independent Littleton broker and Metrolist analyst and board member.

February’s inventory of unsold homes was 10,086, down 3 percent from January and down a whopping 42 percent from February 2011’s 17,358.

As far as homes sold, there were 2,495 last month, which is up 1 percent from January and up 12 percent from the same month last year.

For years, the #1 question I get asked by clients and friends is “When do you think the market will turn around.” For a long time now, I’ve been saying that I wish I knew. For the last month, my answer is simple: “Now.”

Contact me with more questions, concerns or to get started buying or selling a home in Denver.

Robert McGuire – 303-669-1246

There is a tendency for former Denver homeowners who have unfortunately experienced foreclosures or short sales to get anxious and try to find ways to get back to homeownership right away. I just read this Trulia blog about rent-to-own, or lease-option. There are several reasons that I don’t normally consider this the best option for most of the situations I have seen.

1. The advantage is almost always to the Seller. The Seller basically has nothing to lose. The Buyer has much to lose and if the lease agreement is not written correctly can lose all of the down payment and additional amounts paid monthly intended to go toward the purchase.

2. The Seller gets a significant down payment up front and higher rent per month that all or part is supposed to go toward the downpayment when the lease agreement ends. If you change your mind, lose your job, still don’t qualify at the end of the lease, or a myriad of other curcumstances; you can lose all of this paid money.

3. There are some investors and homeowners offering lease-option who have no intention of selling the home. They get as much money up front and per month as possible and look for ways to cancel the lease agreement. That way they can get another unsuspecting buyer in and start this cycle all over again.

4. In most cases it only takes 3 years for a lender to qualify you again for a home loan after foreclosure or shortsale. The best scenario is to get a rental than works for you with as low a payment as you can find to meet your needs. Take the 3 years to build up an excellent credit rating and save the money you would have spent on lease-option in an interest bearing account.

5. The problem in recent years is getting locked into a lease-option with a stipulated final purchase price that doesn’t appraise if you do make it to the time you can purchase the home. Also, you cannot be guaranteed what the interest rate will be at that time. If you ever do consider this rent-to-own situation have a Realtor help you with the research. Then get a good Real Estate Attorney to write the lease and not the owner.

Robert McGuire – 303-669-1246     http://rmcguire.yourcastle.org

Amongst the other great accolades Denver has received lately, this is one to be really proud of. My clients relocating to Park Hill often ask about the safety of Denver. I usually send them to the normal channels to do the research. As Realtors, we have certain restrictions as to what we are to say about communities lest we be considered to be ‘steering’ away from certain communities. The good news here is that Forbes rated Denver-Aurora as #10. Glad to see our sister city Aurora getting some props. Denver is still considered among the top echelan of desirable cities to relocate to in the country. This is just one more reason why.

Robert McGuire – 303-669-1246

I just read a post by Dan Palomino a fellow Denver Blogger. He was bold enough not only to mention the word ‘divorce’; but share his own painful experience. He mentioned how we as seasoned veteran realtors and sometimes ‘grizzled old warriors’ can often walk into a Denver home and sense the pain, frustration and effects of divorce. There is sometimes a dark cloud that hangs in the air. One such listing I sold was of a beautiful home in the City Park West area. Buyers would walk into the beautifully remodelled home and there would be to gasps. One was ‘how gorgeous’; and almost simultaneously ‘what happened here, did someone die in here’. You could feel the tension and pain in the home and cut it with a knife even with no one home.

Although sometimes a decree is done and settled without a lot of drama and everyone moves on with their lives; I have also had listings that went from the signing of documents, through the listing period, and closing where the husband and wife were never in the same room together (as mentioned above) during the entire process due to the anger and hostility. Sadly, divorce is a part of life and thus a part of Real Estate. If you need my help sorting through the process contact me for assistance. You will need someone with compassion as well as expertise to succeed.

Robert McGuire – 303-669-1246