Joan Rogliano

With Interest Rates dropping, some things to consider

2010-07-15T12:18:00.006-06:00

Interest rates are dropping across the board on all fixed loan structures for residential mortgages. Here are some things to consider:

- A non-Jumbo loan structure, fixed for 7 years with an interest rate of 3.50%

- Nothing fancy, no pre-payment penalties, amortized over 30 years, standard old FannieMae product

- In the 8th year, the rate can go no higher than 5.00% … so you’re protected for a total of 8 years

- This is not an FHA or VA product

There's never been a better time to purchase or refinance!

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Lead Based Paint Requirement Delay

2010-06-23T08:46:00.004-06:00

Good news for contractors and home re-modelers living in older homes. The Environmental Protection Agency said on Monday, that it will delay until October 1 the requirement that all contractors be trained and certified to work on homes built prior to January 1, 1978. The concern is that the possibility of lead based paint in these homes presents a safety issue and specific training is necessary.

EPA requires that firms performing renovation, repair, and painting projects that disturb lead-based paint in homes built prior to 1978 be certified by EPA. Anyone remodeling homes, schools and child care facilities must use certified renovators who are trained by EPA approved training providers to follow lead safe work practices. Contractors can become certified by taking an eight hour class from EPA certified instructors. Contractors must follow these three safety rules: contain the work area, minimize dust and clean up thoroughly.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

A Snapshot of the Market

2010-05-26T08:59:00.001-06:00

Yes, April was a busy month with the final expiration of the Federal tax credit for both new and repeat buyers. This last minute dash found more homes going under contract in any April since the mid 1980's.

Inventory was up in April with 16,344 homes on the market and 3,308 sold. The median price was also up, to $225,000. In February of this year the median price was only $217,000.

Will this trend continue? Probably not at this pace, but working in our favor is the motivating current reduction in interest rates, to only 4.625%.

For more information on your personal values, please contact me or my office.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Information from Garold D. Bauer and Metrolist.
Deemed Reliable but not guraranteed.

Are you keeping your clients S.A.F.E?

2010-05-20T07:52:00.007-06:00

Does it Make You Cringe?

Your buyer mentions that they have found a "DEAL" with an online, newly named, Mortgage Loan Originator (MLO),who has offered unbeatable rates.

How do you guide them to verify that what sounds too good to be true, just might be?

The S.A.F.E Act is something we've heard about, but how many of us know its content and how to use this resource to protect our clients?

ALL MLOs must be registered with the Nationwide Mortgage Licensing System (NMLS) by July 31, 2010.
Anyone can go to the websites (http://mortgage.nationwidelicensingsystem.org/Pages/default.aspx or
http://www.hud.gov/offices/hsg/ramh/safe/smlicact.cfm)
to verify that an MLO is registered and operating within the required guidelines of the S.A.F.E Act.

Pass this information on to reinforce your professionalism and concern for your clients!

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Did you Share With Your Clients?

2010-04-29T09:31:00.001-06:00

NAR's report released last Thursday showed an increase in existing homes sales of 7.3% in March. How much of this is due to the tax incentives no one really knows, but there are other good indicators.

1.Unsold inventory decreased by 2%
2.Single family home starts were up 1.6%
3.New Permits rose 7.5% for the month of March
4.According to the Mortgage Bankers Association, loan applications were up 10%. This is also probably due to the tax credits.
5. Median prices are rising.
6. Fannie Mae's economic department released a forecast for the balance of 2010 projecting a gain in GDP of about 3.1%.

Are we out of the woods, not yet, and yes jobs are still a vital issue, but this is optimistic news to share with your clients!

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Image from Businessweek.com

Check on That Final Divorce Decree

2010-04-20T09:15:00.004-06:00

Three similar stories in the last three weeks. Three women had contacted me to help them find a home before the April 30th deadline. They all shared an increasingly common problem.

Their final divorce decree had been written to remove them from title on the marital home, and the loan that accompanied it. There was one major problem.

Just because a final divorce settlement states that someone will be removed from a loan does not necessarily mean that automatically happens. In fact, it rarely does. Lenders generally do not modify loans to remove a borrower.

The procedure usually requires the person remaining in the home refinance to pay off the present loan. Frequently this is the only remedy to remove a co borrower from this financial obligation.

It's been my experience that many attorneys are unaware of this. Apparently they believe the only requirement is the final settlement state a party be removed from the loan for that to occur.

When working with divorcing clients and customers, please be sure to verify that they no longer have the previous loan on their credit report. If they do, it will take some time to have the situation corrected and usually causes additional stress to an already fragile individual.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Free Cleaning for Cancer Patients

2009-11-18T10:53:00.005-07:00

Do you know someone undergoing chemotherapy? Frequently, the last thing on her mind would be cleaning her home. Now, there is a cleaning service that will come once a month for four months, while the patient is in treatment, and clean her home for free.

Sign up is simple, visit the website to sign up then fax a doctors note with proof of treatment. The company will then arrange for a service in her zip code.

Cleaning for a Reason serves the entire USA and currently has 547 partners to help these women.

You can visit the website at Cleaningforareason.org

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Partial $8,000 First Time Home Buyer Tax Credit Extension

2009-10-12T10:41:00.008-06:00

The first time home buyer's tax credit has been a much buzzed about topic this year and while it is set to expire on November 30th, the extension talks have now stepped up.

Last week, the House passed a bill allowing for the extension of the credit for military, diplomatic and intelligence personnel who are overseas. This extension signals the hope that Congress will agree to extend the credit for everyone else into 2010.

Talks of renewing the current credit and providing the tax credit to a broader group of buyers, those who are selling their current homes and purchasing a replacement home, continue.

The question of funding without adding to the deficit remains the key. The New York Times reported the possibility of using money from the 2009 $800 Billion dollar package.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Based on article from Kenneth R. Harney.

Real Estate Market on the Rise

2009-10-07T10:18:00.005-06:00

While some market outlooks have been grim, the Real Estate market is welcoming a warm front. Sales, home prices and contracts on properties are on the rise while interest rates are on the decline, all which can contribute to a positive swing in the Real Estate market.

This was the 7th month straight that pending home sales have risen, the longest streak since 2001. Pending home sales increased 6.4% since August. This figure measures the number of homes under contract and is an important indication of where home sales are headed.

Home sales increased 8.2% in the Northeast, 7.6% in the Midwest, and 16% in the Western States.

Good news also comes from the Commerce Department, which reports that home sales are up seven tenths of a percent nationwide.

According to the Case-Shiller Price index, prices have increased the most in the past month, with an 1.6% increase. L.A and D.C. had 1.8% increases, San Francisco 3.3%, Chicago 2.7% and Minneapolis up 4.6%

In addition to prices increasing, mortgage rates have been decreasing, coming in at 4.9% for 30 Year fixed rates and 4.3% for 15 year fixed rates. If they continue on this pattern, rates will be at a 40 year low, which will not only increase home sales but also refinances.

This is good news on many different fronts of the Real Estate market and hopefully will continue to improve the market conditions.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.
Information taken from article: Real Estate Outlook: Sales Stats and Rates by Kenneth R. Harney

Free Zoning Change Advice

2009-10-05T08:28:00.006-06:00

Denver is currently undergoing one of the greatest zoning transformations ever and is expected to be introduced next year. This is bound to have an impact on property owners; what the specific impact will be is unclear.

Some proposed changes include an increase in the number of zone districts, from around 30 to 96. Some areas will also impose height restrictions, eliminating third stories or roof decks. However, what the changes will be exactly is still not clear.

Sprocket Design-Build, a Denver based company, is offering a free assessment on property zoning and an explanation of how your property could be impacted. For the free property assessment opinion send an email to zoning@sprocketdb.com.

Sprocket will look up your current zoning and then determine how it is slated to change under the new zoning laws. This is particularly helpful if you're interested in doing a remodel or scrape and are concerned that your plans will no longer be allowed under the proposed zoning laws.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Based on article from insiderealestatenews.com by John Rebchook.

Fall Fun in the Mountains!

2009-10-02T12:03:00.005-06:00

Fall is officially here!
Georgetown is hosting their 3rd Annual Aspen Festival this weekend. The festival takes place Saturday October 3 from 10 am to Dusk and Sunday October 4th from 10 am to 5pm. It's a great opportunity to see the Aspen leaves change, hear live music, browse crafts and eat great food.
If you have extra time, head over to the Pumpkin Festival at Georgetown Loop! Where you can take a train ride through the Mountains and see the trees up close. There will also be a hay maze and more fun activities. The Pumpkin Festival at the Georgetown Loop will be taking place the first two weekends in October.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

2009-09-28T12:38:00.007-06:00

Have you heard what FHA is up to?

New FHA Commissioner, David Stevens, announced that the agency will be changing their appraisal rules, and also including a 10% reduction in the amount of money senior home owners can receive from the reverse mortgage program.

The new guidelines, which will be instituted January 1, adopt some of Fannie Mae and Freddie Mac's "home valuation code of conduct"(HVCC). They also stipulate that FHA will not accept appraisals ordered by mortgage brokers, lenders, or anyone compensated on a commission tied to the completion of the loan. FHA regulations do differ from Fannie and Freddie, in that FHA wants appraisers to be paid fairly and in full.

Surprisingly, the commissioner states that the appraiser can disclose the amount of their fees, making this information available to the buyers and sellers in the appraisal report. This goes against traditional practice, where it is typically forbidden for appraisers to reveal their compensation.

This is informative for the consumer, as on average they are charged $400, when the appraiser, who works for the management company, is only paid $175-200.

Along with the disclosure of fees, Stevens is thankfully mandating what he refers to as "geographic competency." This requires appraisers have a familiarity with the local markets and access to data relevant to the home's sale.

This "Geographic Competency" is, in my opinion, imperative. Recently, I received an offer on a property and the buyer's mortgage company ordered an appraisal which came in under the contract price. It was revealed that the appraiser was not familiar with the area and resided and worked many hours away.

Does anyone else have a similar tale to tell?

Wild(Flower) Women on Wheels!

2009-09-21T07:00:00.000-06:00

Grab a friend and join us for a shopping trip and leave the driving to us! Saturday, October 10th, we'll be meeting in the Highlands at 10 am for some shopping. After cruising the boutiques, we'll hop on the bus and make our way to two other unique neighborhoods.

There will be discounts, goodies and of course, great company.
Tickets are $15, which include bus transportation, tote bag and snacks.

To RSVP, please email info@wildflowergroup.net

Putting a Lid on It: Is Roof Replacement Neccessary?

2009-09-18T07:14:00.005-06:00

Remember my client from last week who failed to get an inspection before purchasing her home in the divorce? She recently got an offer on her home.

During the inspection it was revealed that the roof was a Woodruff product, and there had been a class action law suit against Woodruff for their defective roof products.

We've been hearing conflicting reports that lenders are requesting 5 year certifications for the roof or will require the roof replacement. FHA is apparently more restrictive. My client has a roof inspector stating that the roof is in fine condition and he is willing to provide a one year warranty, to be renewed annually after inspection.

What's the best approach for successful negotiations and a smooth transaction? Your input would be appreciated!

What's Your Score?

2009-09-16T11:20:00.002-06:00

Parking tickets, library fees, and other small fines used to have an impact on your credit score. But, thanks to new scoring system, these minor delinquencies can be overlooked when calculating your credit store.

Under the new system, FICO 08, for those with otherwise unblemished scores, fines that are under $100 will no longer count against your score. Also, a single delinquency two or more years ago, is less likely to impact your score. This means that there is a possibility more flexibility in missing a payment, as long as it does not become a habit.

FICO 08 also addresses the frequently adopted "Piggbacking" process, which allows credit-repair companies to use a person's account, and the account holder gets reimbursed for allowing them to use their account. This inaccurately represents a person's credit score and will not longer be an accepted practice under FICO 08.

The FICO 08 adjustment has been adopted within last month, so you might see a slight rise or decrease in your score. But overall, the new system was adopted in order to get a more accurate assessment of the borrowing risks for a candidate. The rationalization behind it is that one small fine is not an accurate method for detecting if a person would default a loan.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Taken from article by Amy Hoak for MarketWatch.

Taking an Interest in Interest Deduction

2009-09-14T07:38:00.000-06:00

While the First Time Home Buyer tax credit has been in the news these days, another bill in Congress could be equally significant, only with negative ramifications. The Congressional Budget Office has been preparing a report that suggests Congress cut deductions for home owner mortgage interest from it's present 1.1 million dollars to $500,000. The deduction would be phased in by $100,000 annually, starting in 2013.
Over a 10 year period, this would increase the revenue by an estimated $41 Billion Dollars. In addition, there are two proposals which aim to replace the mortgage interest deductions with a flat tax credit of 15% of mortgage interest paid. The other proposal is for eliminating deductions for all state and local taxes, which is estimated to cost $862 billion by 2019.

What does this mean for property owners?

Currently, If you're paying $1000 a month for your mortgage, $900 might be interest payments and $100 is paying the actual principal. At the end of the year, you're allowed a $10,800 tax credit. ($900 per month interest x 12 months). However, if this suggestion is undertaken, these tax credits would be eliminated and property owners would no longer receive these write-offs.

Should this legislation pass, it would undoubtedly have a dramatic effect on our unstable housing market.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Information and facts taken from Washington Post Writers Group, Kenneth R Harney.

Dilemma: Divorce and the Marital Home

2009-09-08T21:15:00.003-06:00

The process of divorce is hard enough as it is, but one pivotal move can save you both stress and money. Recently, I had a client who purchased the marital home from her husband at an agreed to price, she did so without the customary inspection that occurs with any real estate purchase transaction; divorce should be no exception.
It wasn’t until my client put her property on the market and the buyer did an inspection, that vital information on the property history was revealed. Not only had a class action lawsuit been issued against the manufacturer of her roof, the property had also depreciated in value. This meant that she had overpaid her husband for the property and was facing costly roofing repairs.

My client believed that since she’d been living in the home prior to the divorce, there would be no inspection issues.

Should you be considering purchasing the martial home, inspections are a quick, relatively inexpensive, yet essential way to protect yourself and your investment.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

A Home Is Not An Island...

2009-09-04T04:54:00.008-06:00

The surrounding neighborhood is just as important because it can have a big impact on your lifestyle -- safety, available amenities, and convenience all play their part, according to the National Association of Realtors (NAR).

NAR also says you can keep your home value buoyed if you find the right neighborhood. You can find the right neighborhood by getting information direct from the best sources -- rather than from second hand and often incomplete data bases professing to offer you one stop shopping for all your neighborhood checking needs.

• Make a list of the activities -- movies, health clubs, churches -- you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities.

• Check out the school district. The education department in your town can provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. Even if you don’t have children, a house in a good school district will be easier to sell in the future.

• Check crime. Ask the police department for neighborhood crime statistics -- not only the level of crime, but also the type -- burglaries, armed robberies -- any trends of increasing or decreasing crime and the location of crime.

• Look for economic stability. Your local city or county economic development office can tell you if income and property values in a neighborhood are stable, rising or falling, the percentage of homes to apartments. Apartments don’t necessarily diminish value, but they can indicate transient populations. Check for vacant or blighted businesses or homes.

• Consider resale value. A local real estate agent or trade association can give you information about price trends, inventories, selling times and other information that can indicate how well your home's value will hold up.

• Hit the streets. Narrow your focus to several neighborhoods and do a "walk-through" of each. Pick a warm day when people are out and available for chatting. Look for tidy, well maintained homes, quiet streets and other indicators of neighborhood stability.

Need assistance determining which neighborhoods meet your families needs? Email joan@roglianorealestategroup.com for a consultation.

4,560 Mortgage Colorado Loan Originator Licenses Revoked!

2009-09-02T07:27:00.004-06:00

These revocations are the result of the Colorado General Assembly House Bill 1085 that was passed in early 2009 and became effective August 5th, 2009. House Bill 1085 defines circumstances in which the Director of The Department of Regulatory Agencies, (DORA), may inactivate a mortgage loan originator license if they have failed to comply with the education and testing requirements.

As a result, the Director inactivated 4,560 licenses on August 31, 2009.

Individuals whose licenses are inactive are prohibited from practicing as a mortgage loan originator or in any other capacity which requires a license.

Individuals who continue to practice with an inactive license are subject to all forms of discipline prescribed in the Mortgage Loan Originator Licensing Act,
including permanent revocation and fines.

Direct managers of individuals with inactive licenses are also subject to disciplinary action if they allow such individuals to continue to practice.

In my opinion, this measure is a long overdue response to the blatant disregard for licensing education requirements that were put in place several years ago. At the time, Colorado was one of the only states that did not have any education requirements for its loan originators and the new rules were an effort to maintain a consistent level of professionalism in the industry.

In light of recent events in the mortgage industry these requirements seem more than reasonable. Now, almost 5 years after the changes there are still people out there choosing to ignore the law. The good news is they are not going to be able to hide the fact they are not licensed any longer.
When shopping for a home loan be sure you are working with a licensed professional.

If you would like to know how to find out if a mortgage originator is licensed or need more information about any area of the real estate industry feel free to email me: joan@roglianorealestategroup.com.

Worlds Skinniest House!

2009-08-31T06:21:00.004-06:00

It's 9 1/2 feet wide and 42 feet long and is billed as the narrowest house in New York City. But there's nothing small about its asking price: $2.7 million.

Located at 75 1/2 Bedford St. in Greenwich Village, the red brick building was built in 1873, sandwiched in a narrow space that used to be an alley between homes at 75 and 77 Bedford.

The narrow house is considered a curiosity and is one of the neighborhood's most photographed homes. A small plaque on the house notes that poet Edna St. Vincent Millay once lived there; so did anthropologist Margaret Mead.

The residential interiors are a tight squeeze even by New York standards, measuring just 8 1/2 feet wide and 42 feet long on each of its three floors.
Due to the narrowness of the house, I think you have to be very clever in how you decorate.

The broker's Web site describes it as a vertical suite, with a kitchen, dining room and parlor on the first floor, a double living room on the second floor and a top-floor master bedroom suite. A trapdoor in the kitchen floor leads to a finished basement.

Large windows in the front and back of the house and a garret skylight, plus a small backyard garden, give it airiness and a sense of light and charm.

The agent predicted the property will fetch its listed price due to its uniqueness, history and location in one of the city's most famous preserved neighborhoods.

For information on homes in the Denver area feel free to email me at joan@roglianorealestategroup.com.

Divorce the House Before the Spouse

2009-08-28T06:22:00.008-06:00

Splitting up after years of marriage? Divorce your house, then your spouse. If you're still linked through the house, than you're not really divorced.

That bit of advice goes against the almost universal desire to hang on to the family home, especially by the spouse who ends up with custody of the children. Indeed, the courts almost always give special consideration to the parent who gets the kids: Keep the kids, keep the house.

However, the place is often so filled with memories, both good and bad it's not the family home anymore. It can be a huge anchor both emotionally and financially. People also tend to underestimate the true cost of homeownership, so much so that the remaining spouse's ability to afford the place is often drastically overstated.

Even in a friendly divorce, if there really is such a thing, certain key expenses are either forgotten or overlooked. Lawn care, homeowners' association fees, even the basic costs of maintenance and upkeep are among the costs that are rarely considered, either by the courts or the spouses.

Then there's the even bigger issue of hidden debt. Ideally there will have been no secrets between the husband and wife. But money is a major cause of divorce, and in many cases, one spouse has no clue that the other one has rung up big bills that have become undisclosed liens against the property.

In most divorces, the spouses determine what the house is worth, and the one who gives up the place is usually given a credit of some sort for his or her half of the equity the couple has in the place. Typically, the parties split the difference based on an appraisal.

But along with that appraisal one should obtain an independent, third-party inspection of the property to determine whether there are any latent defects that could impact its value. You wouldn't buy a house without an inspection, so why would you accept one in a divorce without an inspection? What if something's wrong or about to go wrong? You can use the inspector's report as a punch list, and either use the marital assets to make the necessary repairs or reduce the value of the property accordingly.

Make sure to ask your inspector to estimate the remaining life of the property's major appliances and systems. If something is on its last legs, you'll want to know in advance so you can adjust for that as well. While you're at it, order a termite inspection—the damage those little buggers cause is often significant.

One other item that needs to be factored in is the tax ramifications of any settlement. A settlement can not be fairly evaluated without checking with how the IRS will interpret your division of property.Fortunately, a major mistake is preventable—but only during your divorce, not afterwards. Information is the key – more of it and as early as possible. More due diligence and more information from more financial and real estate experts, all much earlier in the divorce process should safeguard you and your family’s financial future.

Joan Rogliano is a Certified Real Estate Divorce Specialist and has been educating women with practical information about real estate investing and home ownership for over 20 years. For more information feel free to email joan@roglianorealestategroup.com.

New Appraisal Rules are Causing Problems

2009-08-26T06:38:00.005-06:00

Like politics, all real estate is local. You hardly ever see a report about state or national real estate trends without the cautionary caveat that "local markets are all different." So how, then, does it make any sense for real estate appraisals to be conducted by out-of-the-area appraisers who lack specific local-market knowledge?

Well, it doesn't, of course; but the practice has become commonplace thanks to the recent adoption of the Home Valuation Code of Conduct (HVCC). Its aim was to put an end to corrupt practices in the business of appraising residential properties. Perhaps, to some degree, it has achieved its aim; but what we know for sure is that it has caused a lot of problems so far.

The major emphasis of the HVCC has to do with the selection of appraisers. Believing that much of the abuse of appraisal practices resulted from quid-pro-quo selection practices, and good-old-boy networks, the Code seeks to insure that the selection of an appraiser will be an arms-length transaction. Hence, for example, under the HVCC neither a mortgage broker nor a real estate agent may be the person who selects the appraiser. A lender may select the appraiser, but the person who does the selecting can have nothing to do with the "loan production" staff.

The institutional response to this, following the path of least resistance, has been to employ a third-party Appraisal Management Company (AMC) to select the appraiser. An AMC is a middleman. It receives an appraisal request from a lender and then it assigns an appraiser from its list of approved appraisers who have agreed to take assignments.

The use of AMCs has a great appeal in theory. But, on the basis of outcries from around the country, in practice it is not working out very well.

The primary complaint about AMC appraiser selection processes is that too often appraisers are given assignments that take them out of their geographical area of familiarity and expertise.
Moreover, unlike earlier days, it is turning out to be much more difficult for an agent (the one who is likely to know the neighborhood and relevant comparables) to provide helpful information to the appraiser. Actually, the HVCC does not prohibit real estate agents and appraisers from talking to each other; but everyone is so uptight about the new regulations they have been interpreted to mean that no one can have a substantive discussion with the appraiser. The over-zealous attempts to avoid even the appearance of trying to exert undue influence have resulted in a diminished quality of the reports.

National Association of Realtors® (NAR) President, Charles McMillan, recently met with both the New York State Attorney General and with the head of the Federal Housing Finance Agency – the overseer of Fannie Mae and Freddie Mac – to convey industry concerns. Representatives Travis Childers (D-MS) and Gary Miller (R-CA) have co-sponsored HR 3044 that would impose an 18-month moratorium on the use of the HVCC. It would seem a good time to pause and reassess.

For more information about housing in your area email joan@roglianorealestategroup.com.

Denver Ranks #5 on List of America’s Best Places to Grow Up

2009-08-24T05:47:00.003-06:00

Low crime, strong schools, green spaces, and fun activities are key ingredients for a happy childhood.

If you could create the ideal community to raise a child in, what ingredients would you include? First off, you'd probably want a low crime rate.

A strong school system would also be key. From there, you'd need lots of other children, expansive green spaces to play in, and plenty of nearby family events. Toss in an abundance of artistic and recreational activities, and all of a sudden you've got one heck of a place to grow up.

At U.S. News, they wanted to find out if any communities like that already existed—and if so, where they were located. So they dug into their database of 2,000 different places all across the country and pinpointed the locales that met these criteria. They then examined these communities more closely to determine which places offered the best combination of safe neighborhoods, fun activities, and top-notch educators.

Denver came in at number 5 on the final list!

Whether you prefer snowboarding in the Rocky Mountains, biking through America's largest city park system, or heading over to Invesco Field at Mile High for a Broncos football game, Denver is a wonderful place to be a kid. Also among the country's safest big cities, Denver has 300 days of annual sunshine, eight different professional sports franchises, and countless opportunities for fishing, white-water rafting, and horseback riding.

For more information on the Denver area and the housing market email joan@roglianorealestategroup.com.

Don't Miss Your Chance to See Cirque du Soleil: Kooza!

2009-08-21T04:00:00.005-06:00

Now, through September 20th, you can experience Cirque du Soleil: Kooza, at the Pepsi Center in Denver, CO.
Kooza is a return to the origins of Cirque du Soleil: It combines two circus traditions - acrobatic performance and the art of clowning.

The show highlights the physical demands of human performance in all its splendor and fragility, presented in a colorful melange that emphasizes bold slapstick humor. The Innocent's journey brings him into contact with a panoply of comic characters such as the King, the Trickster, the Pickpocket, and the Obnoxious Tourist and his Bad Dog. Between strength and fragility, laughter and smiles, turmoil and harmony, Kooza explores themes of fear, identity, recognition and power.

The show is set in an electrifying and exotic visual world full of surprises, thrills, chills, audacity and total involvement.
Dates: August 20th - September 20th

Ticket Information: 303-405-1100

Venue: Pepsi Center, 1000 Chopper Cirlce, Denver, CO 80204

Lobbyists Working to Extend the $8,000 Home Buyer Tax Credit

2009-08-19T04:58:00.005-06:00

The House and Senate may have left Capitol Hill for their August break, but housing lobbyists are busy at work gearing up a major campaign to extend the $8,000 home buyer tax credit.

The credit for first-time purchasers is scheduled to expire November 30.

The National Association of Home Builders and the National Association of Realtors want to persuade Congress to nail down an extension of the credit, and maybe even broaden its coverage, as soon as possible.

The home builders are mounting an aggressive campaign during the congressional recess. The association is sending out local teams of members to meet with congressmen and senators in their home districts, urging not only a one year extension of the credit, but an expansion of the concept to cover all home buyers next year, not just first-timers.

Though the endorsement may, or may not, have been connected with the home builders' campaign, one of the most politically powerful Democrats has already signaled that he favors a one year extension.

In the House, two bills have been introduced to extend and expand the credit for either six months or 12 months. The National Association of Realtors is strongly supporting the extension efforts, and is sending its own delegations to lobby key members of the House Ways and Means committee and the Senate Finance committee.

So with all this going on, is it a sure thing that the tax credit will be available in some form for home buyers next year? Should consumers who can't quite make the November 30 deadline breathe easier?

Absolutely not. There is no sure thing on Capitol Hill whenever legislation looks like it's got a clear path to passage. That's when opponents hijack the bill or filibuster it in the Senate.

Nonetheless, extension of the credit looks like it has growing bipartisan support. Mary Trupo, legislative spokesperson for the National Association of Realtors, told Realty Times last week that “we feel Congress is receptive” to the message that the housing tax credit helps create jobs, and stimulates the economy.

If you would like more information about the tax credit and receive the most up to date information email joan@roglianorealestategroup.com.

Making Homes Even More Affordable – Refinance Provision

2009-08-17T05:57:00.004-06:00

More homeowners suffering mortgages larger than the value of their home can now trade in their mortgage for a more affordable home loan, under a broader Making Home Affordable refinance provision.

Borrower’s current on payments with Fannie Mae or Freddie Mac guaranteed loans could be eligible for refinancing into new loans even if they owe as much as 125 percent of the home's current value.

Previously, the Home Affordable Refinance Program's loan-to-value limit was 105 percent.
It's the latest Obama Administration effort to help more homeowners refinance their mortgage at a lower rate and reduce their monthly payments. A refinance can help owners buck up and keep homes that are worth less than they owe.

Also, if the existing mortgage was written without mortgage insurance, the new loan won't be burdened with the extra cost.

Fannie Mae and Freddie Mac loans typically require mortgage insurance when the loan is more than 80 percent of the home's value.

Of course, if the current mortgage has mortgage insurance and the new loan is 80 percent or more of the home's value, mortgage insurance comes with the deal.

The new 125 percent limit also may not apply if a second mortgage combined with the first exceeds the limit. The new deal also doesn't allow homeowners to take cash out.

The higher loan-to-value ratios are available now to qualified borrowers who apply through their existing servicer. After Oct. 1 a homeowner can shop around and refinance through any Fannie or Freddie lender.

To check your eligibility for a refinance under the new provision, go to: http://makinghomeaffordable.gov/

Escape for a 2 Hour Vacation to the Golden Fine Arts Festival

2009-08-14T04:00:00.002-06:00

Come browse a variety of beautiful art at Colorado’s most accessible arts festival, the 19th annual Golden Fine Arts Festival, from 10 a.m. to 5 p.m. Saturday, Aug. 15 and Sunday, Aug. 16, 2009, on 11th Street just west of Washington Avenue in historic downtown Golden.

The juried festival is an open-air art gallery in a gorgeous foothills setting adjacent to the Clear Creek. More than 35,000 people are expected to attend again this year since the Golden Fine Arts Festival is well-known for its quality, affordability, ambiance and proximity to the metro area. Hosting 140 high-quality artists, 80 percent of whom are Coloradan and many from as far away as both U.S. coasts, the Festival features a variety of media, including ceramic arts, fiber arts, glass, jewelry, mixed media, painting, photography, sculpture.

There is no admission fee to come enjoy the Festival, which as always, includes free horse-drawn carriage rides through historic downtown Golden, free live musical entertainment, artists’ demonstrations, and a special hands-on Kids Art Zone operated by ArtReach that is always a hit with younger art patrons. In addition, many other coinciding art-filled events and activities are offered throughout the weekend at galleries and merchants in downtown Golden, just a block from the Festival. Golden’s Clear Creek History Park, located alongside the Fine Arts Festival will be free throughout the weekend with blacksmith and pioneer cooking demonstrations.

Prizes will be awarded to artists in eight categories and cash awards total more than $1,800.

Evergreen artist Jennifer O’Meara was chosen by the judges of the 2008 Fine Arts Festival as first place in mixed media and was commissioned to produce the featured artwork for the 2009 festival. As such, her Red Dairy Barn is the original piece reproduced for the 2009 Golden Fine Arts Festival poster and the poster can be purchased for $20 at the festival.

For more information and updates about the Golden Fine Arts Festival and other activities in Golden, visit the Festival’s web site at http://www.goldenfineartsfestival.org/ or Golden’s visitor web site at http://www.2hourvacation.com/ throughout the year.

3 Tips for a Smooth Move

2009-08-12T04:49:00.002-06:00

The moving industry is complicated. It uses a lot of lingo that most consumers don’t understand: You get your estimates as ‘binding’ or ‘non-binding’; movers use a ‘tariff’ to determine rates; when the mover ships your goods, you receive a ‘bill of lading.’

However, there are three basic moving rules that if followed can help make your moving experience free of surprises.

1. Get an in-home estimate.

Have them come to your home to see exactly what you need moved; otherwise, you could be in for a nasty surprise on moving day if they claim you have more belongings than you indicated on your inventory.

Don’t give an inventory over the phone or complete one online. You will have a hard time putting together an accurate inventory on your own, and it also gives unscrupulous moving companies the opportunity to claim that your inventory was incorrect and void the estimate – on moving day, no less.

2. Choose a mover with a local presence.

There are many reasons for this.

First, it’s a good idea to visit the moving company offices to ensure they’re a legitimate mover and not just a broker that’s going to give your move to someone else.

Second, it will put your mind at ease to see the moving company’s facilities, its names on the trucks, etcetera.

Third, logistically, it’s just easier. If you're moving from Texas to Seattle, how can a moving company in Ohio do your move? Will that moving company REALLY be handling your move?

Finally, if you must follow up with the moving company for a damage claim or something else after the move, having them nearby makes that process much easier.

3. Don’t go with a low-ball bid.

Beware of an offer that sounds too good to be true. You will almost certainly pay for it in some other way.

True, some companies might offer a lower price, but make sure it’s a reasonable discount. First, you should get at least three moving quotes for your move. If two of the movers are priced around the same level, and the third comes in with a price that’s 30 percent less, you need to be skeptical.

All moving companies face the same costs, so if someone is telling you they can do your move for a lot less, it’s probably because they will make up the difference by larding on a bunch of ridiculous charges later, such as excess packing charges, or claims that you added stuff to be moved after you got your estimate.

Packing up and moving – whether across town or across the country – is always a nerve-racking experience. The thought of dealing with a potentially disreputable moving company adds another layer of unnecessary complexity. By following these three simple guidelines, you will increase your chances of having an easier, less stressful moving experience, and move on to enjoying your new home.

For more information on buying or selling a home pleases email joan@roglianorealestategroup.com.

How Long Should It Last?

2009-08-10T04:00:00.004-06:00
Average life expectancy in years of a thermostat and a compactor, respectively the longest-lived and shortest-lived appliances in the American home, according to the National Association of Home Builders/Bank of America Home Equity Study of Life Expectancy of Home Components.

Here is a list of the life expectancy (years) of some everyday appliances:

Air Conditioners (room)
10
Air Conditioners (central)
15
Boilers (electric)
13
Boilers (gas)
21
Compactors
6
Dehumidifiers
8
Dishwashers
9
Dryers (electric and gas)
13
Freezers
11
Furnaces (electric warm air)
15
Furnaces (gas warm air)
18
Furnaces (oil warm air)
20
Garbage Disposers
12
Humidifiers
8
Microwave Ovens
9
Range/Oven Hoods
14
Ranges (electric)
13
Ranges (gas)
15
Refrigerators
13
Refrigerators (compact)
9
Thermostats
35
Washing Machines
10
Water Heaters (electric)
11
Water Heaters (gas)
10
Water Heaters (tankless)
20+

Keep in mind that the life expectancy listed here is just a general guideline—depending on the model and brand of appliances you buy and how well you treat them, your gear might last longer or might need replacing even sooner.

For more information about housing in the Denver Metro Area contact joan@roglianorealestategroup.com.

New Taxi Fares To/From Denver International Airport Are In Effect

2009-08-07T04:08:00.002-06:00

New non-metered taxi fares between Denver International Airport (DIA) and three Denver-metro area zones went into effect on July 30. The Colorado Public Utilities Commission (PUC) approved the fare increases as part of recent changes to its transportation rules.

Under PUC rules, all taxi companies serving the Denver-metro area are required to offer a uniform, non-metered fare for trips between the airport and three zones – downtown, the Denver Tech Center, and Boulder. The non-metered airport rates have not changed since 1999.

As of Thursday, rates for trips between DIA and downtown Denver will increase from $43 to $51; between DIA and the Denver Tech Center will increase from $45 to $57; and rates between DIA and Boulder will go from $70 to $84. Any applicable airport gate fees may be added to the flat fare.

Metered rates, which apply to all other taxi fare situations, are set on a company-by-company basis and did not change.
Looking for a home while visiting Denver? Email joan@roglianorealestatate.com for more information.

Western Welcome Week Begins!

2009-08-05T04:00:00.006-06:00

Western Welcome Week, Inc. is dedicated to carrying on the tradition of greater Littleton—yesterday, today and tomorrow—with the annual Western Welcome Week celebration.

Western Welcome Week is an annual community celebration in the greater Littleton area. The event started in the late 1920s, and has been held every year since. Western Welcome Week includes over 40 events benefiting dozens of local civic and charitable organizations.

This year the 81st annual celebration begins on Thursday, August 06, 2009 and continues for 11 days, through Sunday, August 16, 2009. Festival Day, which includes the Children's Parade, the Grand Parade, the 50th annual Arts & Crafts Fair, and concessions by local civic groups, will be Saturday, August 15, 2009.

Nurturing community spirit, bringing the community together by involving many residents and businesses, creating an opportunity for fundraising, support for service clubs and charities, and providing eleven days of fun and entertainment for Littleton area businesses and residents are the goals of Western Welcome Week.

For more information visit http://www.westernwelcomeweek.com/.

Joan Rogliano, a Littleton resident, has been assisting families with their real estate transactions for over 20 years. For more information on homes in your area email joan@roglianorealestategroup.com.

Denver - In the top 10 for Home Price Increases!

2009-08-04T08:03:00.003-06:00

Home Prices Increase in 22 Metro Areas

The 2.1 percent average rise in home prices in 22 out of 25 metropolitan statistical areas (MSAs) from April to May suggests that recovery could be at hand in many areas, says Radar Logic, a real estate data and analytics company.

"This is in stark contrast to the same period during 2008, when a decrease in the velocity of home price depreciation gave way to the worst loss in housing value in recent history," according to the report.

The report calculates that in the key MSAs it studies, prices have fallen 33.5 percent peak-to-trough and 31 percent peak-to-current.

Here are the 10 metropolitan areas where prices increased the most from April to May of this year:

1. Milwaukee, Wis., 4.9 percent
2. Charlotte, 4.7 percent
3. Boston, 4.6 percent
4. Cleveland, 4 percent
5. Washington, D.C., 3.7 percent
6. St. Louis, 3.3 percent
7. Columbus, Ohio, 3.2 percent
8. Seattle, 2.8 percent
9. Denver, 2.3 percent
10. Philadelphia, 1.8 percent

For more information on homes in the Denver Metro Area email joan@roglianorealestategroup.com.

Realtor with specialty in divorce shows a “Garden Party” house in Greenwood Village

2009-08-02T08:42:00.002-06:00

Denver Post
By: Mark Samuelson

Realtor Joan Rogliano specializes in some of the least happy real estate transactions…ones during or after a divorce. You can tour a listing today that she has open in Belleview Village…a popular area near the Highline Canal west of Belleview that has not had many homes on the market for the past two years. It’s showing three now, and this is the least expensive.

No. 12 Belleview Lane has a polished; Leave-It-to Beaver looks on a gorgeous 0.67 acre site. “I call it the garden party house,” Rogliano told me as we chatted in the kitchen, where she’ll be serving hors d’oeuvres today. “There’s room for a pool or tennis court back there.” She led me to the far corner of the tree-shrouded backyard for a look at the expanse…giving the illusion of even more size in a neighborhood that marks its lot lines with shrubs and rail fencing.

There are five bedrooms up, one which is directly off the master; a setup for an upstairs study or nursery. Main floor is a divide between formal and family spaces, plus a music room; the basement has two large family areas.

The price, $925,000, is a rarity, Rogliano says. “This is a sought-after neighborhood,”. The Highline makes a broad loop through the surrounding sections of Greenwood Village, with trail connections into its wandering lanes and cul-de-sacs.

Rogliano says she usually spends more time with her clients than typical agent might in preparing a sale, with much of the discussion centered about trying to stay put, rather than selling.” “Especially if kids are involved, this is where their life is,” she adds. There are options on that..Something’s that’s the focus of Wildflower Group, an organization she founded in 2006 to help families in transition (www.wildflowergroup.net).

“There are choices; everybody’s needs are different,” Rogliano added. Are divorcing sellers more likely to take a low-ball offer, as a way of saying goodbye to common property? “Don’t count on it,” Rogliano says. “Divorce generally has no bearing at all on price issues.”

No. 12 Belleview Lane opens 1-4, is west of University, two blocks south of Belleview on Race. For more information call Joan at 303-667-5485 or visit www.roglianorealestategroup.

The Housing and Economic Recovery Act (HERA) Has Gone Into Effect

2009-07-31T04:21:00.003-06:00

Today's big news is the new federal regulations regarding real estate mortgage closings.

The fours key elements you need to know:

1. If the homebuyer is financing the property, these new regulatory and investor guidelines will impact and will dictate the closing date.

2. Upfront fees cannot be collected by the lender (except for credit report fee) until initial disclosures are received.

3. The homebuyer must be provided with a copy of their appraisal a minimum of 3 business days prior to closing.

4. An increase of more than .125% in the Annual Percentage Rate (APR) from the initial Truth in Lending Disclosure (TIL) requires the TIL disclosure to be revised and reissued to the homebuyer. The homebuyer must receive a revised TIL disclosure at least 3 business days before closing, providing the homebuyer with the time required to determine if the homebuyer is comfortable with their loan choice.

Potential impacts to the APR:

· Unlocked Rate

· Change in loan amount

· Product change

· Rate re-lock due to market improvement

· Change in closing date

· Changes to fees, inclusive of settlement agent fees

The combination of these items will make anything less than 30 days closing very difficult and 45 days is a more likely scenario. Now more than ever the buyer, lender, real estate agent and title agent will need to communicate and cooperate to ensure a successful and timely closing.

For a more detailed handout outlining the new mortgage process and timeline email joan@roglianorealestategroup.com.

Positive Growth in the Real Estate Market

2009-07-29T06:08:00.004-06:00

There was an important piece of economic news last week that has HUGE significance for real estate and housing, but it got minimal coverage on TV and in print.

The Conference Board's Index of Leading Economic Indicators, widely acknowledged as the most accurate predictor of future activity and output in the U.S. economy, rose by almost a point in June.

That was the third straight month of positive growth. But more importantly, it was the first time since 2004 that the index has increased for three consecutive months.

That's crucial for real estate because housing sales, production and prices are closely tied to movements in the overall economy: jobs, manufacturing, exports, household incomes and the like.

There's no way we're going to see a sizable housing recovery until the economy pulls itself out of recession and starts to grow again.

The index of leading indicators is clearly telling us that that process is well underway -- and that's a very encouraging message.

Federal Reserve Chairman Ben Bernanke, in testimony before Congress last week, pretty much said the same: A modest recovery is not far off, he said, though it will take a long time to get unemployment levels back down to pre-recession levels.

Meanwhile, residential real estate continues to put up impressive numbers on the tote board:

New single family housing starts in June rose by 14.4 percent -- the fourth straight month of increasing activity by home builders, who'd previously shut down construction because they hadn't sold off their inventories. And they were afraid consumers wouldn't pay the prices they need to charge.

Those worries are over. Total starts in New England were up by 29 percent and in the Midwest by 33 percent. Builders report seeing much more traffic at their subdivision showrooms, far lower fallout on contracts, and rising sales.

Sales of existing homes were up in many areas for the month as well - rising by 3.6 percent nationwide in June, according to the National Association of Realtors. Lawrence Yun, chief economist for the association, commented that "we expect (this) gradual uptrend in sales to continue" thanks to the $8,000 home buyer credit, favorable mortgage rates and low prices.

New mortgage applications to buy houses continued to increase last week, according to the Mortgage Bankers Association, even though rates edged slightly higher. Thirty-year fixed rates averaged 5.3 percent and 15-year rates averaged 4.8 percent for the week, both up by two-tenths of a percentage point.
For information about housing in your area contact joan@roglianorealestategroup.com.

Smoke Free Housing

2009-07-27T08:22:00.003-06:00

Just five years ago, no one had even heard of smoke-free condo units, now there are more than 100,000 of them – at least in Michigan. The initiative to create more smoke-free units, MISmokeFreeApartment.org, claims that "the right to smoke is not protected under law, according to the opinions of the Michigan Attorney General and HUD (U.S. Department of Housing and Urban Development).

As long as the policy is not used to target a protected class or minority, a building manager is legally free to restrict or prohibit smoking in his or her building, on the group's site.

In just a few years, the group has been instrumental in public awareness across the state enabling landlords to start advertising smoke free (SF) units and newspapers to accept such advertising.

On top of the 100,000-plus units of SF market-rate apartments and condos in Michigan, their outreach has also culminated in:

* well over 20,000 units of SF "affordable" or subsidized multi-unit housing in Michigan

* 28 public housing commissions in Michigan having adopted SF policies

Newspapers now allowing "smoke-free" ads and some online apartment listings include SF icon In today's litigious society, the group explains on its site that many jurisdictions fear creating smoke-free zones, fearing charges of discrimination, however, a U.S. Housing and Urban Development Legal Counsel letter of 2003 states that "the right to smoke is not a right protected under the Civil Rights Act of 1964 because smokers are not a protected class under federal law."

For housing information in your area contact joan@roglianorealestategroup.com.

Ready, Set, Row to the 2009 Festival!

2009-07-24T04:16:00.006-06:00

The 9th Annual Colorado Dragon Boat Festival (CDBF) is Saturday and Sunday, July 25-26, in Denver.
This free family-friendly festival attracts over 100,000 people annually to experience Colorado's diverse Asian Pacific American heritage through performing arts, cultural education, cuisine, arts and crafts, and two days of action-packed dragon boat races.
The Colorado Dragon Boat Festival is more than dragon boat racing; it's a celebration of the local Asian community complete with performing arts, Asian marketplace and village, Taste of Asia foodcourt and, of course the spectacular races, in both competitive and community categories.

The Asian marketplace has over 75 arts and crafts vendors and the performing arts stage features both traditional and contemporary Asian and Asian-American performers of martial arts, traditional dances and rock and blues music.

The village showcases the cultures of different Asian Pacific communities each year and includes the intimate demonstration area, Gateway to Asia. Kids can be entertained (and educated, but don't tell them that) in the Dragonland section, where there are lots of cultural projects to take part in!

A special Dragon Spirit-Awakening ceremony and a traditional Eye-Dotting ceremony awaken the dragon boats and kick off the festivities.

For the full schedule of events visit http://www.cdbf.org.

Finding the Right School for your Child

2009-07-22T04:06:00.009-06:00
As with most things in life there is no one "right" answer. Finding the right school for your child is no exception. A lot has changed from when we went to school. The variety of options available are vast and it requires a careful analysis of your own personal situation to choose the best fit.

Define your ideal school

What qualities are you looking for in a school? Do you want one that's big or small? Strong in academics or the arts — or both? When you list what's most important at the outset, you're more likely to find the right school for your child.

It's important to consider practical matters to help narrow your school search. These include your family's child care needs during nonschool hours, daily and yearly schedule, transportation, school location, coordination of your other children's school schedules and your financial constraints.

Your Neighborhood School

Generally, your first option is your neighborhood school. Each public school district sets up its own rules and boundaries for each school in the district, so it is best to check with your local district to find out which school your child will be assigned to, and what the rules are for attending charter schools, magnet schools, or other schools within or outside your local district.

Charter Schools

One of the most significant changes in public education in recent years has been the growth of the charter school movement. Charter schools are public schools that are liberated from some of the traditional school regulations required by the state. These schools are bound by charter agreements granted by local school boards. If they don't meet the requirements of their charter, they can be shut down. Charter school enrollment is voluntary and is not governed by neighborhood boundaries, which means your child can choose to attend any charter school within your district, or outside your district, so long as there is space available.

School Transfers

School districts generally set their own policies for intradistrict transfers (from one school in the district to another) and interdistrict transfers (to a school outside the district). Preferences are often given to children whose child care provider is near a particular school, or whose parents work in the city where the school is located.

Magnet Schools

Magnet schools are another option offered by many school districts. Magnet schools generally have a particular focus, such as art or technology, or follow a different structural organization, such as mixing different grade levels within one classroom, or operating on a year-round schedule.

Private Schools

Private schools are schools that do not receive funding from the state. They set up their own criteria for admission. Families of the students pay tuition or, in some cases, students receive scholarships to attend. The teachers, principal, board of directors (and sometimes the parents and students) decide upon curriculum, teaching methodology and enrollment requirements. Private schools are not required to hire credentialed teachers or publish their test score results.

Luckily, you do not have to make this decision on your own. There are many tools out there to assist you. Once such tool is the website www.greatschools.com. Great Schools is an independent, nonprofit organization that empowers parents with information and tools so they can choose the best school for their children and improve schools in their communities.

Feel free to contact Joan Rogliano at joan@roglianorealestate.com for housing and school information in your area.

Heated Debate Continues Over Real Estate Regulation Bill

2009-07-20T06:55:00.002-06:00

Hearings and debate continued almost non-stop last week on Capitol Hill as House leaders pushed controversial legislation to create a Consumer Financial Protection Agency with far-reaching powers affecting mortgages and real estate.

Though details of the legislation may change as it transits through the House and Senate, the proposed new agency almost certainly would play a huge role in housing finance, touching all home buyers, sellers, Realtors and lenders.

Here are just a few of the areas it's likely to oversee:

First, it would have primary federal regulatory oversight of all mortgage products offered nationwide -- that includes banks, mortgage brokers, mortgage companies, credit unions and most private lenders.

Very likely the agency would identify a limited number of mortgage types it considers standard and relatively safe for consumers, such as 30-year fixed rate mortgages with mandatory full documentation and strict underwriting, and FHA and VA loans.

All other non-standard loans, especially those with variable payments, less than full documentation or fluctuating interest charges, would be subject to extra regulatory attention.

The agency also is likely to take over a number of consumer regulatory powers that are currently with other federal agencies. They include the Real Estate Settlement Procedures Act, which covers all aspects of home closings, good faith estimates and bans kickbacks, PLUS the Truth in Lending Act, and the Equal Credit Opportunities Act.

Proponents of the bill believe a new agency is needed to prevent a reoccurrence of the severe damage done to home owners, buyers, mortgage borrowers by the sort of lax regulatory oversight of mortgage products that led to the mortgage meltdown and housing bust.

However, banking and mortgage industry trade groups warned that this legislation could do more harm than good and stifle innovation. Those that oppose this bill are concerned about the costs of creating and running a new overseer of mortgage products and credit cards.

For information about real estate in your area and on finding the right financing fell free to contact joan@roglianorealestategroup.com.

$15 Funny Fridays

2009-07-17T05:00:00.004-06:00

The Avenue Theater is bringing something completely new to Denver. All summer long, $15 Funny Fridays will present a different and wonderfully funny way to spend an evening with friends. The Avenue Theater has been a Denver favorite for over 20 years and is centrally located downtown.
Here are their summer offerings:

July 17 - Rodents of Unusual Size
A comical mixture of sketch & improv. The cheesiest show in town! This performance is a benefit for The Smile Train.

July 24 Recipe for Mile Hi-Larity's July Comedy Special:

Take three parts fast-paced improv, one part original sketch comedy, shake until thoroughly mixed up, serve warm (it is July after all!) and you have a comedy dish that is sure to leave you laughing!"

July 31 - Chicken Lips

Tickling funny bones throughout the US for over 25 years. That's a lot of laughs!

August 7

Gypsy Cab Co. is a long form improvised show comprised of local improvisers, some of the best you'll see anywhere!

August 14 - When Animals Improv

A collaboration between two of Denver’s funniest short-form improvisational comedy groups – Monkey’s Uncle and The Rodents Of Unusual Size!

August 21 - Dishwater Blondes

These five fabulous females create a cast of characters and take them on a roller-coaster ride of wild scenes and strange adventures!

August 28 - 60 Minutes: The Musical!

This news-worthy romp is a hilarious take on the state of network news. "60 Minutes The Musical!" includes Broadway-style musical numbers, behind-the-scenes peeks, quirky news segments & interviews, an assortment of commercial parodies on video, and an Andy Rooney moment you won't want to miss. It's the most fun you've ever had watching "60 Minutes!“

All shows begin at 7:30 and all tickets are just $15!

Real Estate Market Showing More Positive Signs

2009-07-15T05:28:00.002-06:00

Despite the stock market being jumpy and investors worried that the global recession may not be ending soon enough, we are seeing strong positive signs in the home real estate market.

Pending home sales rose sharply, by nearly 7 percent, in the latest month measured by the National Association of Realtors. Pending sales were up in all four major regions of the country and that caught the attention of some key industry economists.

Mortgage rates continue to be favorable, an average of 5.3 percent last week for 30 year fixed rate loans, 4. 8 percent for 15 year fixed, and those rates are pulling in growing numbers of home purchase loan applications.

According to the Mortgage Bankers Association's weekly survey, new applications to buy houses increased by nearly 7 percent in the week ending July 3rd.
More than two out of three buyers polled by the group -- 68 percent -- said affordable prices are the key factor pulling them off the sidelines.

Now, of course, not everything is on the plus side in the real estate sector. Many of the houses being sold at near-giveaway prices are the byproducts of foreclosures and short sales, signs of continuing financial distress among many buyers who purchased at the height of the boom with low equity stakes.

Even the rental market is taking some economic hits in the face of rising home sales. Rental unit vacancies have just hit 7.5 percent nationwide; that's the highest they've been in 22 years, according to the New York research firm that compiles these statistics.

So on balance, real estate market conditions depend on where you're looking.
If it's home sales, the outlook is improving. On rentals, it looks like the turnaround will be a little further down the road.

For more information about homes in your area please contact joan@roglianorealestategroup.com.

Louisville, CO Named #1 Place to Live

2009-07-13T08:11:00.008-06:00

In a recent CNNMoney.com poll Louisville, CO was named the #1 small town to live in America.

This down to earth small town is nestled along the Rockies. Ice cream shops dot the historic downtown. Families grab burgers at the cozy Waterloo Café. A Friday-night street fair, with a beer garden, live music, and games for the kids, runs all summer. No wonder this down-to-earth town has appeared high on Money's Best Places list before--and on many others.

It's also weathering the economic downturn well. Robust industries in the area, such as high tech, energy, and health care, make county unemployment among the lowest in the state.

But the top reason residents give for moving here? The great outdoors. Louisville is laced with nearly 30 miles of trails, Rocky Mountain National Park is less than an hour away, and eight world-class ski resorts are within two hours. The town's schools are highly rated as well.

Add in dry, clear weather, little crime, good health care, and low taxes, and Louisville is pretty tough to beat.

The winners were chosen by measuring and weighting the factors that Americans value most. According to the CNNMoney poll, after good jobs, the key criteria are low crime, affordable homes, lots to do, and top-notch schools. Also factored in: data on health care, diversity, weather, and more.

The top-ranked towns not only rack up terrific scores but also possess that indefinable something—a mix of community spirit, can-do attitude, and simple charm—that makes them magnets for people looking for a great little place to raise their families.

For information about homes available in Colorado feel free to contact Joan@roglianorealestategroup.com.

Littleton PD Offers Tips on Coyotes

2009-07-10T04:47:00.002-06:00

The issue of human-coyote interaction has been a popular topic in many circles recently. The issue is timely as coyote pups will begin to emerge from their dens during the spring months. It is important to remember that coyotes can live in almost any environment, and many have adapted to living in an urban area. Humans should practice avoidance as much as possible when dealing with coyotes, particularly if there is a den in the neighborhood. While coyotes are typically afraid of human interaction, they can get aggressive on occasion.

The Colorado Division of Wildlife recommends that if humans come across coyotes while walking or hiking, they should make themselves as “big and loud” as possible. Using noisemakers like an air horn, or yelling and clapping can aid in deterring a coyote from investigating your presence. Humans are advised not to turn their backs on coyotes. You should face them and back away slowly if they exhibit aggressive behavior.

Residents of the City of Littleton are prohibited from intentionally feeding or baiting coyotes or foxes. The Colorado Revised Statutes have specific rules barring this behavior which apply within the city limits.

If you have any questions about coyote behavior, visit the Colorado Division of Wildlife’s web page. The city’s Humane Officer, Terry Carr, is also available to answer questions, and can be reached at 303-795-3877. If you are confronted by an aggressive coyote or other wild animal, please dial 911 and a police officer will respond.

South Suburban tracking coyote sightings
For the safety of our communities, South Suburban is interested in hearing about your first-hand experience(s) with a coyote within the South Suburban boundaries.

Top 7 Mistakes to Avoid with Real Estate in a Divorce

2009-07-08T04:31:00.004-06:00

1. Not listing the real estate in the Summons and Petition.
This might prevent you from getting a divorce, might prevent you from selling the property until you go back to court to amend and correct the decree, might result in your spouse getting more of a share in that property, and other problems.

2. Not using the correct "legal description" for the property, or using the street address instead of the legal description.
You may have to amend the Divorce Decree before you can refinance or sell the property.

3. Having verbal or written "side" agreements about the property that are not part of the divorce decree.
These are not enforceable and if your ex-spouse changes his/her mind, you are out of luck.

4. Assuming you are not responsible for the mortgage because your ex-spouse was awarded the house.
The court cannot order the lender to take your name off of the mortgage. Being on the mortgage is between you and the lender. Having your name on the mortgage for a house awarded to your ex-spouse may prevent you from qualifying for another mortgage. If your spouse fails to make payments on the mortgage, the lender may try to collect from you.

5. Deeding the property between spouses before the divorce is final.
Some people think that if their spouse is not listed on the deed for the property, the property does not need to be part of the divorce proceedings. There are two mistakes here. First, all real estate is part of the divorce proceedings, even if the deed is in only one name. Second, a deed between spouses during the marriage is not effective. Under the law, a spouse has a "marital interest" in all real estate owned by the other spouse. You cannot deed away that marital interest while still married to each other.

6. Not paying attention to the marital and non-marital parts of the value of a house.
You could be short-changing yourself by thousands of dollars.

7. Adding or changing language in the divorce papers without consulting an attorney.
You should change the court forms to meet your needs, but you also should get an attorney to help you. Real Estate law is very technical and exacting. You are highly likely to make serious mistakes if you try to address the real estate issues without competent legal advice. It is foolish to save a few dollars now and cause yourself trouble and expense later. Some mistakes can be corrected. For example, if you make an error in the legal description of the property, it is possible to go through a procedure to "amend" the Judgment and Decree to correct the legal description. Other mistakes cannot be corrected. For example, if you agree to sell the house and divide the net proceeds 50-50% with your spouse, you cannot ask to amend the decree later on the basis that the division was unfair because you paid $50,000 of the downpayment on the house with your non-marital money. Many attorneys are willing to review divorce papers for a reasonable fee. Just remember to show the papers to the attorney before you sign them or serve them on the other party.

Joan Rogliano has been helping her clients navigate the home buying and selling process during times of transition for over 20 years. For more information feel free to contact joan@roglianorealestategroup.com.