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        <title>Denver Real Estate Blog</title>
        <link>http://www.denversrealestate.com/blog/tags/realtor/</link>
        <description>Denver real estate topics including local metro Denver community news and events.</description>
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            <guid>http://www.denversrealestate.com/blog/first-time-home-buyer-denver.html</guid>
            <link>http://www.denversrealestate.com/blog/first-time-home-buyer-denver.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>First Time Home Buyer Denver</title>
            <description> <![CDATA[ 
BUYING YOUR FIRST HOME CAN BE EASIER THAN YOU THINK!


Buying your first home may seem overwhelming in the beginning. There are dozens of different things to consider and tasks to complete. We have been there, right where you are hundreds of times and are committed to assisting you to understand each step while taking you through the process. The homeownership club is exclusive and fun, we are committed to helping those who want to become homeowners become a part of it.


We provide you through this website with direct access to the information you need to help guide you through the process of buying your first, second or tenth home. If you can’t find it quickly on our site simply give us a call, No Strings Attached! You will be making good decisions based upon understanding the process and not guesswork in no time.


SERIES : First Time Home Buyer Denver


DENVER FIRST TIME HOME BUYERS COULD QUALIFY FOR SPECIAL PROGRAMS


One of the first things that we do will be determining your eligibility for Special Colorado Grant Programs. These programs are available to both First Time Home Buyers and those who have not owned a home in the past three years.


QUALIFIED BENEFITS INCLUDE:




Purchase with low to no downpayment.


Deferred payments


Grants that never need to be repaid


Interest costs subsidized




GETTING STARTED




Get Pre-Qualified for your loan – The first step of meeting with a loan officer face to face is important. Your income, credit and current debts will be reviewed to discuss your different options for financing. You need to know how much of a loan you can afford to understand how much you can pay for your home. In some cases actions may need to be taken so that your credit report can stand up to future scrutiny. We will put together a plan for your home purchase that matches your timeline.


Getting the Go-Ahead – After meeting with the loan officer you will make the actual loan application in order to get a pre-approval. Having an actual pre-approval lets a potential seller know the strength of your offer and will aid in negotiations. Despite a pre-approval the home which you move forward on will still need to appraise at the purchase price or more. If a home does not appraise for at least the agreed upon price, there is no obligation to continue with the purchase.


Sign up for access to search the Denver MLS – IDX – Knowing the price of the home you can afford to buy and with your pre-approval in hand it is time to get serious about the home search. This is the fun part of searching for the right home in the communities that meet your lifestyle and budget requirements. Searching online enables you to do the initial steps of learning about the properties and neighborhoods available. You can have new listings delivered to your email box as soon as they become available and even save your favorites to easily find them again later.


House Hunting – Pre-approval in hand and understanding the process it is now time to tour a selection of the best homes that meet your budget and requirements. A good number of homes to tour is in the range of 4 to 6 at a time. If the first home does not make your heart flutter, it only brings us closer to finding the one that will.


Make the offer – This will cover both price and terms derived through our discussions of the market conditions and property. Items that are typically covered in the offer include:




     - The date of closing and possession


     - Any included personal property


     - Closing costs assistanceInspection deadlines


     - Terms of financing





THE RIGHT REALTOR


Choosing the right Realtor to represent your best interests throughout the home buying process is extremely important. Too many times home buyers fail when choosing a Realtor by merely calling the name that is on the sign in front of the home and working with that agent by default.


YOU MAY NOT REALIZE – REALTORS CAN BE VERY DIFFERENT


You should choose a Realtor that works as a real estate professional full time so they are able to devote themselves to your home search and providing top notch service throughout the transaction.


Experience matters in real estate, so choose a Realtor who has experience working as a full time real estate professional. Relying on a “newbie” for the largest transaction of your life may not be in your best interests.


See out a Realtor that is ready to work diligently on your behalf to represent your best interests. Your Realtor should be able to answer your questions and provide guidance through all the phases of the transaction.


We are here not only to serve your needs but to exceed your expectations. To discuss your goals and the possibility of having us represent you take a moment to email or call. No time like the present, I look forward to hearing from you.
 ]]> </description>
            <pubDate>Sun, 06 May 2012 15:43:52 -0600</pubDate>
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            <guid>http://www.denversrealestate.com/blog/code-of-ethics-for-real-estate-agents.html</guid>
            <link>http://www.denversrealestate.com/blog/code-of-ethics-for-real-estate-agents.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>Code of Ethics for Real Estate Agents</title>
            <description> <![CDATA[ 
When diving into the real estate market, many people wonder exactly what their real estate agent should be doing for them. Luckily, most real estate agents do abide by a certain code of ethics if they belong to the National Association of Realtors. This is why you should be sure to work with someone who is a member that way you can ensure that you are getting the attention and respect that you want and deserve. But what ethical standards do real estate agents follow?

For starters, the real estate agents have an ethical duty to their clients, the public and to their fellow real estate agents. To their clients, they all there to protect their best interest, and make sure that they are never misled. This means that they cannot give information that deliberately misleads their client, such as the market value of a home being more than it really is. In addition, the real estate agent must present their client with all the offers that are given, even if they believe that the offer is unrealistic. The real estate agent must also be sure to keep the information of the client confidential, as well as keep the safety of the client in mind when they are looking at potential properties. Furthermore, the real estate agent is obligated to tell you all the information, no matter how unflattering it may be.

To the public, the real estate agent has the ethical obligation to not discriminate on any basis, whether it be race or gender. They must also make all information known to the public that is not considered confidential. They also have the ethical obligation to let interested parties know if they have some personal stake in a property, therefore, allowing the individual to change real estate agents if they must. The real estate agent is also under ethical obligation to let the individuals know when they should seek legal counsel in reference to a property, the agent may offer their opinion however, their word is not binding.

To other real estate agents, the real estate agent must demonstrate a professional attitude towards them which means not talking badly about another agent or business. In addition, the real estate agent cannot contact a client of another real estate agent in an effort to take over the client. However, if the client seeks another real estate agent, the previous agent cannot stand in the way of the client. Overall, the ethical standards that real estate agents are held to are intense and complex, which is why finding an agent that is a member of the organization, is in the best interest of the buyer or seller.
 ]]> </description>
            <pubDate>Tue, 18 Jan 2011 09:47:49 -0700</pubDate>
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            <guid>http://www.denversrealestate.com/blog/history-and-jazz-in-denvers-five-points-neighborhood.html</guid>
            <link>http://www.denversrealestate.com/blog/history-and-jazz-in-denvers-five-points-neighborhood.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>History And Jazz in Denver's Five Points Neighborhood</title>
            <description> <![CDATA[ 
Five Points is one of the most historic neighborhoods in the city of Denver. It has recently undergone a period of development that has seen the population changed and diversified from its African-American roots. There is still a strong sense of history tied to the neighborhood, however, and it is often considered the heart of the city's African-American community. 

The Five Points neighborhood is so named because it is located at the point where the diagonal grid of downtown Denver meets East Denver's rectangular grid, creating a five way intersection where Washington Street, 26th Avenue, 27th Street and Welton Avenue meet. The neighborhood lies within the East Side of Denver. 

Five Points is one of the oldest neighborhoods in Denver. Much of the neighborhood's growth occurred during the 1860s and there are many interesting, historic properties still standing within the area. 

Five Points has undergone a lot of redevelopment in recent times, with many of the old Victorian homes being restored, and new, high end lofts being constructed in the area. The light rail and the proximity of the neighborhood to downtown Denver have attracted many new people into the neighborhood. It is considered to be one of the most desirable neighborhoods in the city. 

Five Points was the first neighborhood in Denver to have a predominantly African-American population, and the area is still known for its jazz history. During the 1930s, 1940s and 1950s, the Five Points neighborhood had an abundance of bars and clubs that played host to some of the most famous names in jazz. Miles Davis, Billie Holiday and Duke Ellington were among those who played in the neighborhood. The Five Points neighborhood and its jazz bars were mentioned by the novelist Jack Kerouac in On the Road. 

The history of the neighborhood and its African-American heritage can be explored in the Black American West Museum and Heritage Center, which is located within Five Points. The Blair-Caldwell African-American Research Library is also situated within Five Points. 

There is still a strong African-American community in Five Points, which is often considered the symbolic heart and historic home of the modern African-American community in the Denver area. The Five Points neighborhood is today a far more diverse community than it used to be, however. 

The Five Points Jazz Fest is still held in the neighborhood every year. It forms part of Denver's series of free concerts and is organized by the city's Office of Cultural Affairs. 

The Juneteenth festival is a major annual attraction in the neighborhood. The celebrations begin at Manual High School and progress down to Five Points' Welton Street, where street performers and merchants gather to entertain the crowds. This festival celebrates the abolition of slavery. 

Art and culture still plays an important role in the life of Five Points. The Cleo Parker Robinson Dance Studio, located within the neighborhood, makes a major contribution to the artistic life of the city. Dancers from this studio have performed not just in Denver, but also around the world.
 ]]> </description>
            <pubDate>Thu, 05 Aug 2010 19:36:15 -0600</pubDate>
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            <guid>http://www.denversrealestate.com/blog/what-is-a-short-sale.html</guid>
            <link>http://www.denversrealestate.com/blog/what-is-a-short-sale.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>What is a short sale?</title>
            <description> <![CDATA[ To put this in basic terms a real estate short sale is when the proceeds from sale fall short of the loan balances which encumber the property. This happens when a home owner (borrower) can no longer pay the mortgage against their property. The lender may decide that selling the property short with a moderate loss is better than either pressing the home owner or foreclosure options. Foreclosure can mean larger costs to the bank and a less desirable credit report outcome for the borrower. A short sale does not necessarily release a borrower from the deficiency/remaining balance of the debt or the obligation to repay that deficiency.Short Sale ProcessFor a short sale to occur the mortgage lender needs to agree and facilitate the discounting of the loan balance against the encumbered property because of a financial hardship on the part of the home owner. This allows the home owner the ability to sell the property for less than the outstanding loan balance, turning over the sales proceeds to the lender. The reason for doing a short sale can make sense for both sides, the lender incurs smaller financial losses and the borrowers incur less damage to their credit. Selling a property short is usually faster and less expensive than foreclosure. Borrowers should be careful, because a short sale does not extinguish the deficiency balance unless that is stated clearly in the lenders offer of acceptance.Most lending institutions have a loss mitigation department to test for qualifying conditions and process transactions which could end in a short sale. The timing, criteria and willingness to process short sale transactions really does vary between lenders. The lender will order a Broker Price Opinion, an appraisal or both to establish value when evaluating offers.A Notice of Default need not be issued in order for a bank to accept a short sale request and lenders are slowly becoming more willing to work with short sales. Short sales are being used to help borrowers in financial hardship avoid foreclosure in cases where they owe more than their home is worth.Approvals and ConditionsIt is common for a short sale to require many approvals and conditions. There may be a first and second mortgage on the home which would mean that both lenders would need to approve the short sale, each likely would have their own set of conditions. Other junior lien holders such as an HOA, tax liens and mechanics liens also have the ability to object to a short sale. If there was mortgage insurance that company may also be a part of negotiations if required to pay out a claim. It is a complex process requiring specialized knowledge. There is a high rate of short sales that fail with the home ending up in foreclosure when not properly managed.The rate of short sale failure also varies by the lending institution. In 2009 the lender with the highest failure rate and longest approval time was Bank of America. Smaller, local banks tend to process short sales faster.Differentiation is ConsentAn easy way to understand the differences between short sales and foreclosures is through consent. A foreclosure is the forced sale of a home by the lender while in a short sale both lender and borrower are mutually consenting to the sale. That mutual consent in a short sale process is tenuous at best. Negotiations can be ongoing even while the property is for sale. The home owner may decide to refinance and stay or become uncooperative with the bank and force them to foreclose. On the other hand, the bank may also change their mind or not approve the price agreed to by buyer and seller.Short Sales and CreditShort sales can and do have an adverse effect upon a borrowers credit score. It is recorded as a kind of settlement. However, this effect is less than the effect that a foreclosure would have on a credit history. The effect on credit is also not as long lasting as a foreclosure would be. Through a short sale credit scores can be restored in as little as eighteen months with the ability to obtain a new mortgage in one to three years. In cases where the borrower is current when the short sale occurs, better results are achieved.During the short sale process lenders will occasionally forgive the deficiency debt and care should be taken to understand exactly how that deficiency debt will be treated. Lien holders to the property other than the lender are not as likely to forgive that outstanding debt. After completing a short sale the borrower should also take care to ensure the lender has updated mortgage balances to zero for credit reporting. ]]> </description>
            <pubDate>Sun, 11 Apr 2010 17:15:15 -0600</pubDate>
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            <guid>http://www.denversrealestate.com/blog/nar-short-sales-and-foreclosure-certification.html</guid>
            <link>http://www.denversrealestate.com/blog/nar-short-sales-and-foreclosure-certification.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>NAR Short Sales and Foreclosure Certification</title>
            <description> <![CDATA[ Denver, Colorado, January 1, 2010 &mdash; Bruce Swedal, Denver Real Estate Expert has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS offers the SFR certification to REALTORS who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows. According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.&nbsp; For many real estate professionals, short sales and foreclosures are the new &ldquo;traditional&rdquo; transaction.&nbsp; REALTORS who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.&ldquo;As leading advocates for homeownership, REALTORS believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,&rdquo; said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. &ldquo;Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but its extremely important to have the help of a real estate professional like a REALTOR who has earned the SFR certification for these kinds of purchases.&rdquo; The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS are required to take one core course and three Webinars.&nbsp; For more information about the SFR certification, visit REALTORSFR.org or call 1-877-510-7855. ]]> </description>
            <pubDate>Wed, 03 Mar 2010 20:38:22 -0700</pubDate>
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