Park Hill – Denver: What Are The 7 Deadly Sins of Home Buying Credit?

I just saw this Credit Article  by Broderick Perkins posted on Trulia. Avoid or correct these credit concerns at all costs.

 DivorceJohn Ulzheimer, president of Consumer Education at, the credit blogger for, is an expert on credit reporting, credit scoring and identity theft.

 Formerly with FICO, Equifax and, Ulzheimer is a rare editorial source — a recognized credit expert who actually comes from the credit industry.

He often references in his writings the “Seven FICO Deadlies,” credit score deflating actions, but only recently identified them in one consolidated list.

Your credit score, from about 350 (poor) to 800 (excellent) is a numerical rendition of your credit report. The higher your score, the more likely you’ll get approved for credit and the more likely you’ll get the best rate and terms. Negative actions posted to your credit report, take a bite out of your credit score.

Here’s what Ulzheimer says are the seven worst things you can do to your credit score. And speaking of “seven,” that’s how many years these black marks can stay on your credit report.

• Deadbeat behavior. Frequent, significant and late payments 30 days, 60 days, 90 days late. Don’t believe a 30-day-late payment won’t hurt. It may not ruin your credit but it’s not helpful and can remain on your report for years.

• Collection activity. When the lender gets tired of your deadbeat behavior it will call out the dogs — a third-party collection agency. The collection agency will report collection activity to the credit bureaus and again, seven years of bad luck.

• Charge offs. If the lender gives up on your collection case, acknowledging you’ll never pay the bill, it charges off the debt and puts your credit report on notice for seven years.

• Public recordingsBankruptcy, tax liens, judgments and the like are killers for your credit rating. Judgments are good (or, from your viewpoint, bad) for seven years, even if you pay them off. Bankruptcies can dog your credit report for 10 years and unpaid tax liens never go away.

• Settlements. If you pay a portion of a debt to your lender in a settlement, say a some of the mortgage in a short sale, you can get a settlement notice on your credit report card for seven years. Credit cards and other debts, likewise can be settled, with negative impact to your credit report.

• Foreclosures. If you can’t or won’t pay your mortgage the lender will eventually foreclose and relieve you of your home. Another seven year negative notification will drag down your score. The same applies when you give the home to the lender in a deed-in-lieu of foreclosure.

• Repossession – When you don’t pay your vehicle loans a bounty hunter will be coming your way. He or she is not coming after you, but your vehicle, and that’s often without notice, after you’ve been dunned for a while. It’s all legal. The repo man can take your property down and your credit score will follow.

With all of this said, there are lenders and Credit Repair Companies that can help you clear these things from your credit and raise your credit score to an acceptible level quickly or over time. All is not lost. Call me!!

Robert McGuire – 303-669-1246

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Denver – Park Hill: Metro Home Sellers Shocked and Amazed at Current Values!!

Denver Sellers Surprised At The Equity Found In There Homes!! 

TruliaWell it is January 2013 and things are looking a lot better than they did a year ago for Sellers in the Denver Metro area. We are finding that sellers that could not afford to sell last year are now seeing enough equity in there homes to move forward this year. Denver home values are up about 12% from this time last year and that is the average. There are some areas that are up considerably higher.

The current Denver home inventory is historically low and the buyers are waiting more homes to come on the market. Multiple offers and quick sales are the norm. It is a good time to get a new Comparative Market Analysis (CMA) and to reconsider your options. I am offering these services free for all who respond to this post. I would love to hear from you.

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Denver – Park Hill: 6 Good Reasons to Purchase A Home Now!!

Great New Year’s Resolution to Keep!!

Halifax Plus 277Every year I hear this from my Denver clients, contacts and friends – “After the first of the year I will get serious about a home purchase”.  This year I started getting calls for home purchases on January 1st. How about you? Is this the year for you to get serious about purchasing a home.  Here are 6 reasons why you should:

1. The price of Denver homes will never be lower than today. Prices are rising quickly.

2. The home mortgage interest rates have never been lower. Mtg. Rates under 4.0%!! With down payments starting at $100.00

3. Buy now and reap the benefits of rapid appreciation. Close to 10% higher than last year.

4. Isn’t it time to start paying your own mortgage and not your landlord’s. You deserve it.

5. Rental rates are going up about 5% every year. Your home mtg. payment set for 30 yrs.

6. It is much easier than you think. Call me to get started and to explore your options.

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Denver – Park Hill: The Broncos Shock the World. Best in the AFC!!

Denver Broncos – The Best in the West

Bronco StadiumAs a long term die hard Broncos fan, this has been an exciting year for the Orange and Blue. Last year, the Tebow Experience was fun to watch but everyone knew it was an unsustainable phenomena. This year was the advent of the advent of Peyton Manning. The man, the general, the ‘hall of fame’ legend who sauntered into town with the weight of the world and the hopes of the Denver fans on his back. I thought a 9-7 season would be respectable as Manning made the adjustments to a new team a new city and a new coach and staff. 13-3 and a shot at the Superbowl Championship was not in my thoughts. Now with the Broncos the best in the West and the best in the AFC, I tip my hat to Manning and the warriors who find themselves alone at the top. Waiting, watching as the Wild Card teams battle it out this weekend.

We will see who has the unenviable task of facing off against the red hot Denver Broncos and the ravenous crowd at “Mile High Stadium”. A crowd starved for a championship since the glory days of John Elway in 1998 and 1999. If you remember those days and were part of the pandemonium, make a comment below. Let the games begin!!

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Denver – Park Hill: It’s 2013, A Year of Unlimited Possibilities!!

rearview mirror

Here we go with a brand new year. It is time to look forward to the great things to come and only look back through the events of 2012 as in looking through a ‘rear view mirror’. As my friend LaHai Sogbandi said, ‘there is a reason why the front windshield is so large and the rear view mirror is so small’. The past is not as important as our future so we must look ahead and move forward.  Ever try running a race while looking backward? You don’t get very far before losing the vision of where you are going and eventually getting tripped up. It is certainly a lot slower than facing the future and going full speed ahead.

No matter how successful and fulfilling the year 2012 might have been or how unsuccessful and disappointing it was; it is over. There are many lessons to be learned from the year 2012 that we can carry forward to 2013 while looking forward through the broad windshield with endless and unlimited possibilities. I think that is why the scripture in Philippians 3:13,14 – 13 – “Brethren, I count not myself to have apprehended : but this one thing I do, forgetting those things which are behind, and reaching forth unto those things which are before, 14 I press toward the mark for the prize of the high calling of God in Christ Jesus”. Let’s press on to be the best in this life and the life to come. Again, the possibilities are endless and unlimited. Have a Happy and Prosperous New Year!!

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Denver – Park Hill: Home Prices Set to skyrocket In 2013!!

Home prices are set for a quick increase according to my view here in Park Hill and throughout the Denver Metro area.  Check out this John Burns article. I concur whole heartedly with this concise report.

Prices to Rise Quickly in Denver in 2013

Don’t be surprised if home prices begin to appreciate rapidly. Why? The ratio of homeownership costs to income is at an all-time low, and people are not going to continue renting homes at a monthly cost that exceeds a mortgage payment.

Assuming our leaders in DC come to some sort of agreement that keeps the economy growing and interest rates low, which seems like the most reasonable assumption, here is what will happen:

  • Investors: Investors and, yes, even flippers will continue to grow in numbers as they realize housing is the best risk-adjusted return on their money.
  • Boomerang buyers: Foreclosed homeowners, who are currently renting homes, will come back in droves. In Phoenix, they are paying $1,300 in rent for a home whose mortgage payment would be $1,000. That situation is not sustainable. The Federal Housing Administration and Department of Veterans Affairs have low down payment programs with insurance premiums that push rates near 5.0%. Those payments are still very affordable.
  • Entry-level buyers: First-time homeowners, who have been sitting on the sidelines waiting for a sign of the bottom, will hear about price increases in their desired neighborhood and rush to become homeowners.
  • Move-down buyers: Empty nesters and retirees, who have plenty of equity in their existing home, will buy a home that is more suitable to their current lifestyle, which may or may not include adult children as well as their aging parents.
  • Moveup buyers: The price appreciation that occurred in the last year has already lifted 1 million underwater homeowners above water, and future price appreciation will lift even more.

Don’t listen to the naysayers. They frequently make one or two negative points, many of which are valid, but they don’t understand the big picture.

The Big Picture is:

  • Housing is cheap
  • People prefer to own
  • Get ready for a surge in home prices!

From John Burns, CEO at John Burns Real Estate Consulting, Dec. 11, 2012

Robert McGuire – 303-669-1246                                     

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Northeast Park Hill – Denver Homes: What Do You Get For $200,000.00?

I am on a campaign to let Denver know what a ‘hot’ neighborhood Northeast Park Hill is right now. You can get more for your money here than Highlands, SE Denver, all of the communities closer to Downtown, and of course South and West Park Hill. You can often get a fully remodeled solid brick, 4 bedroom, 2 bath home with a full finished basement in the $200,000 range. Sometimes with a 2-car garage. The lots or often 6500 to 7500 square feet with big trees, fences, garden areas and mature landscaping. All this and walking distance to all the amenities of Stapleton and close to Downtown Denver, Cherry Creek, and much more. No wonder buyers from all over Denver and the suburbs are finding this area home and loving it.

This much improved and desired area is still a best kept secret to people who still look at Northeast Park Hill with the stygma of the problems that plagued the neighborhood in years past. A drive down Martin Luther King Blvd. and North on Niagara, Oneida, and other streets from Quebec over to Monaco today will give you a different perspective of this great and storied neighborhood.  If you are looking for a great home in a great neighborhood that is rapidly improving and appreciating, contact me for a tour of the neighborhood, and of the homes for sale that might be just right for you.

I have a new listing at 3695 Niagara that is ripe for the picking now at $200,000. Contact me for a private showing of this and other great Northeast Park Hill homes.

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Denver – Park Hill: How Does Low Home Inventory Affect the Market?

Low, Low Inventory

This Inman News Post reports that the historic low inventory is actually bolstering the market in the top cities in the country. Denver started this year with inventory 40% below the year below what it was in 2011. Now we are seeing this trend across the nation. #1 Oakland is now 58.35% below last year. This informative article sheds light on what is happening across the nation in the top cities.

Supply and Demand

The shortage of homes in Denver and the US has several affects on the market. In most areas it has become a seller’s market. There are multiple offers and bidding wars at a level we have not seen since the last real estate cycle in the late 90’s. Another inevitable affect of low inventory is increasing prices in the market. This is a time when sellers should be coming out of the shadows and out of the woodwork who have been waiting for the right time to put their home on the market.

Home Sellers

Homeowners equity has increased due to the shortage of homes for sale. If you would like to see what your options are in Park Hill or Denver at this time – Contact me for a chat. I am offering a ‘free market analysis’ to all who respond to this post. We have  many eager and pre-approved buyers chomping at the bit and waiting for the next Denver home to come on the market. Make your move now!!

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Denver – Park Hill: Buyers Need New Strategy With Low Inventory!!

Inman News just published an interesting article about the low inventory of homes across the nation. My Managing Broker, Charles Roberts at Your Castle Real Estate is quoted in this enlightening post.

Some excerpts from Charles Roberts:

“We’re seeing multiple offers for well-priced properties all the way through $500,000,” said Charles Roberts, a director at the Denver Board of Realtors and co-owner of Your Castle Real Estate. “Two or three years ago the recovery was happening at the lower end, below $200,000 and most strong at the very low end.”

In the past nine months, the higher end of the market “has seen a very strong recovery,” Roberts said. “At one time there were seven years of inventory of $1 million-plus homes. That’s down to 10 months or so.”

Roberts said urgency defines the current market for buyers. “Gone are the days of looking at 50 homes and taking months to make a decision. If there’s a good property on the market, buyers need to act quickly, and yes, sometimes bid above asking price,” he said.

“The educated, thoughtful clients are getting great deals with astoundingly low interest rates,” Roberts said. “The clients that are still insisting on putting offers at 80 cents on the dollar are getting shut out of the market. They either learn that that strategy doesn’t work anymore or they keep on renting. Our job as real estate agents is to teach them what the market looks like and guide them in their decision-making.”

This supports some of my recent posts, blogs, and recent conversations with my Park Hill and other Denver buyers. The Denver home inventory is down 40% since 2011. Home buyer competition is intense. Note to Denver homeowners – it is now time to sell. Contact me and let’s chat. Check out the full Inman News story here. 

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Denver – Park Hill: It Is 56% Cheaper to Purchase a Home Than to Rent!!

Breaking News!!

This interesting new report from shows how much cheaper it is to own than to rent in the top 100 largest cities in the US. The average is 45% less expensive to purchase a home than to rent. As usual, Denver is setting a better pace than this. It is now 56% cheaper to purchase a home than to rent in Denver. We have been writing reports like this one and sounding the trumpet to advise Denverites to jump on the purchasing bandwagon now while the interests rates have been as low as 3.50% recently for a 30 year fixed mortgage. If you qualify, there are some programs available now to get into a home for $1000 down payment. Some HUD Forclosures are available for $100 down for a limited time. Contact me to discuss this and see what your options are at this time.

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