How to make your home bid stand out

some good advice from the Denver Post... More than 4 million Americans buy a home each year, but there's no telling how many offers are discarded along the way. And no one wants to get edged out in the bid for a dream home. Real estate is rebounding in many regions of the country, and buyers can face formidable competition. Of course, the best way to snag the home you want is to promise the most money. But there's more to making an offer than simply setting and stating your price. Here, two top real estate agents in a perpetually competitive market — Washington, D.C. — share pointers on crafting an offer that will outshine the rest: Show them the money The key, both said, is assuaging the sellers' fears. They worry mainly that the deal will fall through, so have your financing in order before you submit an offer. Make sure the lender checks your credit, assets and employment status before pre-approving your loan, and get a detailed letter with the amount you are authorized to borrow, recommends Elizabeth Blakeslee, a Coldwell Banker broker in the capital region. Another way to signal you are a serious buyer is by putting down a large, good-faith deposit. A 2 percent to 4 percent escrow deposit is common. However, Nancy Itteilag of Long and Foster real estate, who has been listed among the top 10 agents in the country for sales volume by the Wall Street Journal/REAL Trends, tells her clients to write a check for at least 10 percent. Within 30 days, the buyer will need to hand over this money as part of the down-payment anyway. "If the seller has a nice deposit in escrow, they know the buyer is not going to wake up and change their mind," she says. Eliminate surprises The other unknown that keeps sellers up at night is dread over repairs, says Blakeslee. Most of fers are contingent on a home inspection. To eliminate that variable, have the inspection done before putting in an offer, and specify any repairs you expect the seller to make. That way there won't be surprises later. Alternatively, buy a home warranty or even request that your real estate agent throw one in as a closing gift. That way the seller knows that if the heating system gives out, it will be covered. "They don't want the buyer nitpicking — coming back with 'the icemaker doesn't work'," Blakeslee says. Another contingency in most contracts is the home appraisal. If the value of the property as assessed is lower than the purchase price, the buyer can back out of the deal. Most lenders require an appraisal before underwriting a mortgage, so unless you are paying cash, you won't be able to waive this condition, Blakeslee says. However, if you are in love with the house, you can volunteer to pay, out of pocket, the potential difference between a low appraisal amount and the purchase price. Offer peace of mind The goal is to be as accommodating as possible without sacrificing your family's needs. Talk to sellers about furnishings or appliances they want to take or leave behind. Also, give the owners plenty of time to move. Consider allowing them to stay in the home for a month after the settlement date at no charge, Itteilag says, as long as they continue to pay utilities. As a buyer, you don't have to make a mortgage payment the first month anyway. "When you have people who have been in their homes for 20 years, they don't want to be pushed out," she says. "Sometimes you can't put a price tag on the comfort level you've offered them." Personal connection Make your bid stand out with personal touches. For instance, write a letter to the seller detailing why your family fell in love with the home and the community. During your house tour, Blakeslee advises looking for a detail that connects your family with the previous occupants. Perhaps they went to the same college you did, have the same number of children or share your interest in ice hockey. Seize the opportunity to explain why you are a great match. In addition, be sure your real-estate agent presents your offer in person, Itteilag stresses. When agents are face-to-face with the seller, they can read the situation clearly and make requests that are hard to put in writing. For instance, your agent can tell the listing agent how much you love the home, hinting that if there is a stronger offer, you would appreciate the opportunity to match or beat it. Finally, while all these tips are helpful, it's not your job as a buyer to think strategically, says Itteilag. "Find an excellent (real estate agent) and let them represent your interests," she says.

Fewer homes sold in the Denver metro area in November

from Denver Post.... November saw a 24 percent decrease in home sales in the Denver metro area compared to October, and a five percent decrease year-over-year, according to Metrolist. Homes sales in October were 4,628 compared to 3,500 in November. In November 2012, home sales numbered 3,692. However, Metrolist said the metro real estate market remains strong heading into the holidays with the average Denver metro home price in November at $312,401, up three percent from October. The $312,401 is up nine percent over November 2012, when the average Denver metro area home price was $285,664. "We continue to see tight inventories and an expected increase in average price across the market," said Kirby Slunaker, CEO and president of Metrolist Inc. "November typically sees normal decreases in both listings and sales activity, as many potential sellers wait until after the holidays to list new properties," said Slunaker in a statement. Slunaker said that Denver real estate market remains competitive which resulted in the higher home prices and maintaining a reduced number of days on the market. The average days on the market in both October and November was 44, a 37 percent decrease from November 2012 which saw an average of 70 days on the market. The price of condos in the metro area showed strong price stability, with an average sale price of more than $200,000 per unit in November, which was a two percent increase over 2012. "Our brokers and agents have seen a very busy year with a record setting selling season," said Slunaker. "While the market has cooled slightly, as one would expect, the numbers year-over-year are incredible and speak to the growing strength of the Denver metro real estate market."

Then and Now, Photo of Denver Skyline in 1898 and one from 2013.

In 1898 the population of Colorado was close to 540,000, today it is estimated to be close to 5,200,000.

Single Women Are Buying Homes At Twice The Rate Of Men

interesting buying trends from insiderbusiness.com.... A few decades ago, a single woman buying real estate on her own was a rarity. Before the Fair Housing Act of 1968, few women could get approved for a credit card, much less a mortgage, without a husband's or father's signature. Now that's all changed. In fact, the National Association of Realtors reports that since the mid-1990s, single women have purchased homes at nearly twice the rate of single men. Last year, single female homeowners made up 18 percent of household composition in the association's Profile of Home Buyers and Sellers, compared to 10 percent for single men. Julie Cook, a public relations professional in Michigan, recently closed on her first home, a three-bedroom ranch outside Detroit. After living in New York City and paying sky-high rent for a few years, the Detroit native recently moved back to the area and decided to take advantage of more affordable home prices. "At this point, it was a better way to spend my money than putting it into rent," she says. "I might as well get equity." She lived with her parents for three months while she saved money for a down payment and browsed properties with her real estate agent. She secured an FHA loan earlier this year and moved into her new house last month. [See: A Step-by-Step Guide to Homebuying in Today's Market.] Interest rates have begun inching back up in recent weeks, so Cook considers herself lucky to have locked in a low rate even as the closing process dragged on. "The hardest part was the wait," she says. "FHA takes a little bit longer because of the additional layer of policy and law." Although she originally pictured living in a loft with a convenient downtown location that requires little maintenance, Cook says her real estate agent encouraged her to consider other types of properties. She says she's happy to have found a house with a small, manageable yard in a safe neighborhood. "I'm half a mile from restaurants and culture, and I'm able to ride my bike," she says. "Location was a big part of it." According to Jessica Lautz, a manager of member survey research at NAR, neighborhood safety is a top consideration for single female homebuyers. "Their second most important factor is convenience to friends and family," she says. "Location, location, location" may be a common refrain in real estate circles, but clearly it's not the only factor. "[Single women] are a very discriminating buyer," says Karen Krupsaw, vice president of real estate operations at Redfin, a technology-powered real estate company. "I don't think they're unrealistic. They can see beyond the way [a house] may show as well as how they can fix it up and how it can be a dream home." Recent data from Redfin found that 46 percent of women buying alone said they first evaluate a home based on whether they love it, compared to 24 percent of men buying alone. The remaining 54 percent of women and 76 percent of men evaluate a home based on value and cost. [Read: 3 Costly Mistakes of First-Time Homebuyers.] Cost was a key factor for Cailin Heinze, a veterinary nutritionist and professor at Tufts University who closed on a home in Northborough, Mass., in May. "My rent was already ridiculous for a two-bedroom, and it was going to go up another $200," she says. "I thought, if I buy now, this is probably the lowest interest rate that is probably going to be around for the foreseeable future." Still, Heinze says she was a bit anxious about putting in an offer and closing on the property because other than her educational costs, this was the most she's ever spent. "It's intimidating to think I will pay this much a month for the next 30 years," she says, "but that's how much I would pay in rent." Because the average salary for a woman still lags behind men's (the American Association of University Women says women earn 82 cents for every dollar a man makes one year after graduation) and lenders favor two-income households over single earners, Lautz says women are "making the most sacrifices to get into a home, but they're still placing a high value on owning a home of their own." Despite lower pay, women handle credit more responsibly than men, on average, according to Experian, which reports that men have a 7 percent higher incidence of late mortgage payments and 4.3 percent more debt than women. [See: 10 Ways Your Home Can Pay You Money.] Heinze plans to stay in her house for the foreseeable future, but Cook considers her home part of a long-term investment strategy. Cook has a 30-year mortgage with the option to pay it off early with no penalty, so she says she plans to live in the house and pay it off in four to five years before renting it out and moving into "more of a permanent long-term place with ideally a husband, or a boyfriend or whatever happens." For Heinze, solo homeownership carries a sense of pride. "[I'm] able to have a place that would be truly my own that I could decorate the way I wanted to," she says, "and have some sort of stability."

10 things to do after selling your home

from MSN real estate....always good info to know... You’ve sold your house: Escrow has closed, and you’ve handed your keys to the new owners. But while the deal is done, you have a few more things to do. In “House Selling for Dummies,” authors Eric Tyson and Ray Brown lay out things you can do to save money and increase your peace of mind, post-sale. Here are 10 of their tips. 1. Keep copies of all paperwork related to the closing and settlement. Although it might be tempting to shred the paperwork or put it in storage, you’ll want to have it handy for April 15. When you file your taxes, you’ll need documentation for the expenses and proceeds of the sale. And after you file your return, you’ll want to keep the paperwork in case you’re audited. 2. Keep proof of improvements and prior purchases. This is for tax purposes, too. The IRS allows you to add the cost of improvements to your home’s cost basis during the time you own the home, which is nice if you have a sizable capital gain. But to use this tax provision, you need to keep receipts for everything you spent on home improvement. 3. Stay on top of tax laws. Because tax laws constantly change, you’ll want to keep current to avoid losing money. For example, a recent law allows you to exclude from tax a significant portion of the profits from the sale of your primary residence. 4. Put your proceeds in a money market fund. If you sell and then don’t immediately buy, you’ll need a safe place to put your money. A money market mutual fund offers safety, a reasonable rate of return, daily access to your money and check-writing privileges. 5. Choose your next home carefully. Scope out a variety of areas and housing options that meet your family’s needs. 6. Don’t feel pressured to buy. Take your time purchasing your next home; rent for awhile if you’d like extra time or want to try an area out first before buying. “Keep in mind that you have two years to defer tax on your house-sale profits,” Tyson and Brown write. 7. Re-evaluate your personal finances. If your situation changes before you buy another house — you get a promotion, have a baby, go through a divorce — you’ll need to rethink your finances and how much you can afford to pay for your new house. 8. Think about what you need from an agent to help you buy. Carefully consider whether the agent who helped sell your house can meet your needs when you’re buying. Buying and selling require different skills. And, if you’re moving to a new area, you may want someone familiar with the area. 9. Think through your next down payment. Tyson and Brown recommend putting at least 20 percent down on your next house in order to qualify for the best mortgage programs. If you can afford more than 20 percent, consider whether it’s better to put that money in the down payment or to invest the money elsewhere. “Younger homebuyers willing to take on more investment risk should lean toward a 20 percent down payment, whereas older homebuyers, who tend to invest less aggressively, should opt for larger down payments,” the pair recommends. 10. Remember to send change-of-address notices. The Postal Service recommends you complete your change of address 30 days before you move.

Housing-bubble concerns in Denver likely are overblown for now

from Denver Post... Fears that metro Denver is entering another period of real-estate excess have risen this year, along with home prices and the demand for properties to buy. More than half of Denver residents recently surveyed, about 53 percent, are concerned that another real-estate bubble is forming, according to the Country Financial Security Index. "Given rising home prices and persistent trepidation about the economy, it's understandable that a majority of Denver residents are expecting an 'echo bubble' in the housing market," says Troy Frerichs, director of investments/wealth management at Country Financial in Illinois. Metro Denver home prices recaptured their pre-crash peak in May and have kept marching higher, rising at a 9 percent-plus annual pace over the first nine months of the year, according to the Standard & Poor's/Case-Shiller Denver Home Price Index. That is double the 2012 pace, and in April, metro Denver reported the highest share among major metro areas of homes selling in seven days or fewer, with some homes selling the day they were listed. But analysts who track the residential market offer several reasons Denver's housing market won't flare up and then flame out. "Much of the recent price appreciation reflects the drop in interest rates," said Michael Kone, an analyst with Housingmetrics in Boulder. Early indications are that higher mortgage rates have eroded buyer enthusiasm here and elsewhere, and over time will dampen price gains. Tight lending standards are keeping many potential buyers on the sidelines, unable to take advantage of rates that remain near historically low levels. Kone also notes that many young adults are struggling to earn enough to purchase a home, gumming up a key gear of the market. Subprime lending and excessive new construction, important components in the last bubble, are also missing this time around. Another way to approach the bubble question is to examine where home prices in metro Denver might be, had they stayed on a steady course instead of running up and then declining. Metro Denver home prices have appreciated at an average annual pace of just over 5 percent since 1977, according to the S&P/Case-Shiller index. Within that period were at least two housing booms and busts, including one that started in 1997 on the heels of strong hiring in the tech and telecom sectors. From April 1999 through June 2001, Denver home prices increased at an average annual pace of 12 percent or higher, eventually peaking in August 2006. Had the index gained a steady 5 percent a year from 1997 on, sparing homeowners the heartache of depreciation from 2007 to 2011, then home prices here in the aggregate are still about 17 percent below where they might be expected to be. Sluggish income growth, rising interest rates and an aging population could make it harder to maintain the historical 5 percent average rate of price increases, Kone says. Assuming 4 percent represents the "new normal" for Denver home-price appreciation, then the metro area is about where it should be, according to the home-price index. Jed Kolko, chief economist at the real-estate website Trulia, runs a more complicated analysis at his Bubble Watch blog, taking into account rents and incomes. Trulia has metro Denver home prices about 1 percent undervalued, a far cry from the 26 percent overvaluation it calculated nationally in the first quarter of 2006. So far, the early signs are that people are behaving rationally enough to start applying the brakes, rather than the gas pedal as they did in the mid-2000s. Trulia shows that listing prices, a leading indicator of sales prices, are slowing fastest in markets with the biggest price gains this year. Zillow Inc., another online source of real-estate data, shows Denver home prices rose 9.9 percent through October but declined 0.2 percent between September and October. Zillow's outlook for 2014 isn't very promising: 0.6 percent home-price appreciation in metro Denver and 3 percent nationally. "Home-value gains will slow down significantly because of higher mortgage rates, more expensive home prices and more supply created by fewer underwater homeowners and more new construction," predicts Stan Humphries, Zillow's chief economist. Frerichs notes that even though Denver residents are pessimistic about housing, only 5 percent list a real-estate bubble as a top concern. Blindsided by what happened last decade, many homeowners are vigilant for any sign that the market is getting out of hand, which makes a bubble less likely. "They are snakebitten," he said.

101 Household Tips for Every Room in your Home

What an awesome list..check it out to save money and be creative around your home! Click on the following link... 101 Household Tips for Every Room in your Home

Zillow: Home values will stabilize, mortgages will be easier to get in 2014 -

interesting Zillow predictions...from inman news article... Zillow is making four “bold” predictions for 2014: U.S. home values will increase by 3 percent; mortgage rates will crack 5 percent; borrowers will have easier access to a mortgage; and the homeownership rate will drop to its lowest level in 20 years. Zillow Chief Economist Stan Humphries says that the more modest home value growth he predicts for 2014 reflects a more mature, stable market that will exist a year from now. “(In 2014), home value gains will slow down significantly because of higher mortgage rates, more expensive home prices, and more supply created by fewer underwater homeowners and more new construction,” Humphries said in a statement. As the housing market resets toward more sustainable, realistic lending standards and home value appreciation expectations, Humphries expects homeownership to drop to below 65 percent, a level it hasn’t seen since the mid-1990s. Even though Zillow predicts mortgage rates will rise to above 5 percent by the end of 2014, the competition for fewer borrowers will force lenders to ease their standards, said Erin Lantz, Zillow’s director of mortgages. Home affordability will remain high, too, in many markets despite the rate increase, she said. Based on projections for unemployment rates, population growth and the home values via the Zillow Home Value Forecast, Zillow predicts the following metros will have the hottest housing markets in 2014 (in order): Salt Lake City; Seattle; Austin, Texas; San Jose, Calif.; Miami; Raleigh, N.C.; Jacksonville, Fla.; San Diego; Portland, Ore.; and Boston.