Colorado House Finders

My husband wants to quitclaim me off the Deed of our home in Denver, Colorado. What should I do? Most couples think that once a spouse has been quitclaimed off a property deed of trust in Colorado Divorce, they are no longer responsible for the mortgage payments. By giving a quitclaim deed to your spouse, you have given up title only in the property.

I would strongly suggest that you either refinance your Colorado real estate immediately or sell the house and forgo the quitclaim deed. The quit-claim deed is often used as a simple way to give up all interest rights in real estate. By giving up title to the property in a Colorado Divorce, you are still responsible for any loan that is in your name. (more…)

How does the “Officer Next Door” program work in Denver, Colorado? You may have heard a number of different names associated with this program: Good Neighbor Next Door, Teacher Next Door or Officer Next door. The program was established for a number of different occupations: law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians.

The goal of the program is to help reduce crime and promote learning within communities in Denver, Colorado and other areas in the country. HUD offers a large incentive to police officers by discounting single-family properties by 50%. Qualified individuals are required to live in the property for three-years.

A check and balance system to verify occupancy has been created through an annual certification mailed to participating police officers in Denver, Colorado around the anniversary of the purchase. Although the property is discounted by 50%, HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement.

Here are some common questions that I have received? (more…)

What is the future of the real estate industry? What new trends are taking place in the real estate industry? Many people are speculating on the changes taking place in the real estate market in Colorado and other areas around the country. The idea of “One Stop Shop” real estate services is gaining interest among real estate professionals in Colorado and other states in the country, however, many real estate professionals are unaware how to implement the business model.

For as many real estate professionals that are unaware how to implement the “One Stop Shop” real estate business model, there are just as many who are unwilling to accept that this business model will be reality. For those people, I want to ask them if they have ever heard of the mega-retailer Wal-Mart and if they understand their business model? (more…)

Increasing your property value in the Colorado real estate market can be a daunting task. With property values stabilizing or declining in certain markets around Colorado, it is becoming more challenging for homeowners to recognize a return-on-investment with their home improvements.

According to Remodeling Magazine’s 2006 “Cost vs. Value “ report, the cost for most remodeling projects in 2006 increased while the return on investment decreased. Apparently, a mid-range kitchen remodel with an average cost of $54,000 only returned 80.4% versus a 91% return on $43,862 in 2005.

How can a homeowner increase their property value? (more…)

Colorado Foreclosures…How do we address the problem? Is eliminating mortgage fraud the answer? Colorado legislatures are considering imposing rules & regulations similar to insurance agents and stockbrokers. Maybe, simplifying the mortgage process, eliminating misleading mortgage ads and increasing requirements on homebuyer education.

Some mortgage brokers working with Colorado legislatures think differently. They feel that the consumers should assume some level of accountability and assume some of the blame. The rising Colorado foreclosures according to Bill Kidwell, president-elect of the Colorado Association of Mortgage Brokers are a reflection of the higher rates of homeownership and the consumer’s desire for instant gratification.

What is the solution? Should we impose stricter regulation on mortgage providers or maybe police and enforce punishment on unethical appraisers?