This is a program that HUD (Housing and Urban Development) has and they are homes owned by HUD. This program allows for Teachers, First Responders(Police Officers, Fire Fighters, Emergency Medical Technicians) at a 50% discount of the list price. This program is developed to help revitalize specific area/neighborhoods and are specific homes located in the neighborhood.

The buyer bids on these homes just like a regular HUD home. Depending on the area there are not many of these home. so if you qualify for this program you’ll be able to check which homes are available on the HUD Home Store site. The information is located on the left hand side of the web page you will be able to see what homes are available in your area. Feel free to contact me if you have any questions or would like more information about this program or HUD Homes in general.

Until next time!

Ruth Cullis

The other morning I was putting on my mascara, using a new mascara that cost way less than what I usually spend. You may be wondering what has she paid for mascara? Well I’ve paid up to $11.00 for a tube and as little as $4.00. One day I was in Target and needed a tube of mascara but just did not feel like paying my usual $4.00. So I thought I’d try NYC Sky Rise Lengthening Mascara. To my surprise I really fell in love with this product and I liked the price even better. I know it was a risk and I may have wasted a whole $1.39, seriously, it’s was better than paying the $11.00 and not liking the product,(really how many of us have done that at one time or another?)

So, the though occurred to me…just because it the most expensive is it always the best? Maybe in some things, but not everything. Or do you pay enough to just get the job done? What do you think?

Until next time!

Ruth Cullis

January 2011  Market Update

The housing market is recovering. As more home buyers are taking advantage of the improved affordability conditions. With mortgage rates hovering around recent record lows and home prices having generally stabilized, economists are expecting an upward trend to a healthy and sustainable level in 2011.

Encouraging signs are showing up across the economy. Retail sales recently hit their highest level since before the recession. Key measures of small and big businesses’ optimism marched back up to prerecession levels and new claims for jobless benefits are trending lower. Together they bode well for steady job creation and improved consumer confidence which is generally manifested in more spending.

As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down. Meanwhile, serious buyers stand to benefit from historically favorable buying conditions.

Home Sales

Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.

Home Price

Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities .

Inventory

The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.

Affordability

Housing affordability set a new record in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio, currently at 13.5%, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels.

Source: National Association of Realtors – October housing data released December 22.

Interest Rates

Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.

Source: Freddie Mac, Rates as of Jan 7.

This Month’s Video

Topics For Home Owners, Buyers & Sellers

Use the Season to Your Home-Selling Advantage

While summer is generally known as the peak season for home sales activity, the winter can also offer great advantages for sellers – such as less competition from other sellers. With a little effort, you can use the season to your home-selling advantage.

Let’s put these ideas to work, so your home shows at its best.
Keep snow and ice at bay.If the buyer can’t get in easily, the house won’t sell. That means keeping walkways and driveways free of the frozen stuff. You want to make the home look well maintained.

Warm it up. Think warm, cozy, and homey. Before a buyer comes through, adjust the thermostat to a warmer temperature to make it welcoming. If you have a fireplace, turning it on right before the tour can create a more welcoming ambience.

Emphasize winter positives.Is your home on a bus route or some other vital service that means it’s plowed or deiced regularly in bad weather? Be sure to mention that to the buyers.

Make it festive. Even if you’re not actually going to be present, greet your buyers as if they were going to be guests at a party. Set up the dinner table with the good china and silver. Have a plate of cookies for your guests, some warm cider, or even chilled bottles of water.

Use the season to your advantage.  When the holidays are over, you can still use winter wreaths and dried arrangements around the door to spark interest. In the winter, with the leaves off the trees, you might also have a nice view that isn’t as apparent in the spring and summer months.

Source: msn.com

Contact me,

Ruth Cullis 303-944-2626 or email Ruthcullis@kw.com your Denver real estate expert,for information about what’s going on in our area.

Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.

The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources.  You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion.  Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind.  All information presented herein is intended and should be used for educational purposes only.  Nothing herein should be construed as investment advice.  You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  All investments involve some degree of risk.  Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

Your Mortgage Coach

Feel free to contact myself or John if you have any questions. Would love to talk with you.

Until next time!

Ruth Cullis

The POSSIBILITY of future inflation moves mortgage rates. There are other factors…but this is the tide that lifts or lowers regardless of the local weather. When investors look at the global economy they try to figure out how the influencing factors (European sovereign debt, growth in China and India, US corporate earnings, consumer price index, etc.) will affect our economy and if the result will be inflationary. In a nutshell, a strong economy tends to push inflation up, a weak economy tends to pull inflation down.

This week we had a mixed bag of reports – AGAIN – and so rates followed suit. Corporate earnings in the US were positive but retail sales came in weak. Food and energy prices jumped but the prices for all the other stuff (the core index) only went up slightly. China’s economy is doing well but Europe is still concerned with countries defaulting on their debt. So while there are signs our economy is improving, we’re not there yet. As a result….

This week 30 yr. fixed rates remained in the between 4.625% & 4.875% depending on program, credit and points.

Make someone’s day better today!!

Amy Watt

Senior Mortgage Consultant

Cell: 303-882-2712 SecureFax: 1-866-546-5132

WR Starkey Mortgage

LMB100008375

www.LendingByAmy.com

I hope that you find this information helpful. Have a wonderful weekend.

Until next time!

Ruth Cullis

Cell phones
Sell: Ship your old phone to www.flipswap.com in Torrance, Cal., and within a few weeks you’ll receive a check. The Web site provides instructions for erasing data and preparing the phone for a new owner.

Donate: To search for a drop-off location, visit www.recellular.com. You can download a free data-eraser program. Also check out your local Starbucks, Staples and Body Works, they have in the past taken donations for the local women shelter, and the military.

Recycle: Find manufacturers’ programs at www.recyclewirelessphones.com, the Web site of CTIA-The Wireless Association.
Don’t forget to erase your data or removing the sim card from your phone.

Computers
Donate: If your computer is less than five years old, prepare it for donation by visiting www.epa.gov for lists of refurbishers and disk-cleaning software. One refurbishing program, Reconnect, will accept any brand of computer equipment in any condition, as well as peripherals, accessories and Microsoft entertainment products, including Xboxes and Zunes. To find a drop-off location, visit www.reconnectpartnership.com.

Recycle: If the computer is more than five years old or broken, recycle it. First remove the hard drive (search www.youtube.com for “How to smash a hard drive”). To find a recycler, visit www.earth911.com.

Electronics
Sell: Gazelle.com will buy just about any type of electronic device, including computers and peripherals, game systems, MP3 players, digital cameras, satellite radios and GPS devices.

Recycle: For a list of manufacturers and major retailers (Best Buy, Costco, Office Depot, Staples) with programs for mailing back or trading in electronics, visit the Web site of the National Center for Electronics Recycling.

Sometimes Apple will take your old ipod and give you a credit toward your new ipod device. Check with your local Apple store.

TVs
Recycle: To learn where you can recycle TVs by brand, go to www.epa.gov. Best Buy stores will accept any brand up to 32 inches for a $10 charge and will give you a $10 gift card to offset the cost. You can bring in two devices per day, per household. For a fee, it will remove up to two TVs from your home, up to 36 inches

I noticed that one of the websites that the article recommends is www.earth911.com , I have used this site to find where I can take old magazines and newspapers if you don’t have recycling pick up at your home. Let’s keep our landfills free of electronics.

Until next time!

Ruth Cullis

For more information or to talk about real estate contact me via email, RuthCullis@kw.com or text me at 303-944-2626.

Until next time!

Ruth Cullis

Great information for the month of September.

So you may be wondering what, when and how can I purchase a home? You can get all those questions answered with the Home Buying Seminar scheduled for Saturday, September 11, 2010. Bring your questions and get the straight scoop. Call me to RSVP 303-944-2626.

You do have options. There are many people who are experiencing either a job loss, cut back in hours or pay with a job, loss of a loved one, divorce or relocation whatever the situation that has caused you to follow behind on your mortgage. The media give you different stories or situations that may have worked for one party but not another. I have had some clients say that they have been told to let the home go into foreclosure, don’t short sale, do a loan modification, don’t do a loan modification, etc. I’m finding that one solution that may work for one person may or may not work for another. So it is very important that you find out what your options work best for your situation.

I have found two different web sites that may help you decide what can work for you there is a lot of helpful information and checklists. Know Your Options and for those in Colorado The Colorado Foreclosure Hotline or call 1-877-601-Hope (1-877-601-4673)

Also don’t forget to talk with your tax accountant and or attorney to find out what tax and/or legal ramifications.

Until next time!

Ruth Cullis