Jude's Real Estate Rumblings

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Daily Rate Lock Advisory

 

 



Friday's bond market has opened well in negative territory as investors continue to shy away from inflation-threatened securities. The stock markets are mixed during morning trading with the Dow up 38 points and the Nasdaq down 23 points. The bond market is currently down 21/32, which will likely push this morning's mortgage rates higher by another .375 of a discount point.

There is no relevant economic data scheduled for release today, but this morning's bond losses don't come as a surprise. It appears that the sentiment in the bond market has turned more pessimistic than optimistic, partly due to inflation concerns. That has led to bonds and long-term securities becoming of less interest to investors. The result is bond prices falling as they are sold and mortgage rates rising. Unfortunately, I am not so sure that this is the end of the selling, so please be careful if still floating an interest rate.

There are a couple of reports scheduled for release next week that are relevant to mortgage related bonds and rates. However, none are considered to be of extremely high importance to the markets. The first comes Monday morning with the release of June's Leading Economic Indicators (LEI). This report is considered to be moderately important to the markets.

The rest of the week brings is insight to housing sales, manufacturing activity for big-ticket items and the Fed Beige Book that breaks down economic activity in the U.S. by region. Look for more details on these and the rest of the upcoming week's events in Sunday's weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were fin ancing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

©Mortgage Commentary 2008

Jude Sandvall's Real Estate Advisor

Jude T. Sandvall


Realty Executives of Aurora

Featured Articles

Protecting Your Home:
Locks, Lights and Good Neighbors

One of the crimes most frequently reported to the police is residential burglary. It's also the most preventable. It doesn't take much or cost much to out-smart most burglars. They're usually not professionals, but rather people taking advantage of an easy target. Burglars may do more than steal things. If they're surprised by someone coming home or if they choose a home that's occupied, someone may get hurt.

Tips on Safeguarding Your Home

  • Make sure all exterior doors have good locks-at least dead-bolt locks with a 1" throw.
  • Always lock up when you go out, even if only for a few minutes.
  • Secure sliding glass doors with bars or locks, or put a broom handle in the door track.
  • Make sure your windows have good locks, especially those at ground level.
  • Make sure all porches, entrances, and outside areas are well lit.
  • Trim any bushes or trees that hide doors or windows.
  • Maintain your yard and keep ladders and tools inside when you're not using them.
  • Don't hide your keys under the doormat or in a flowerpot. That's the first place burglars look! It's much better to give an extra key to a trusted neighbor.
  • Mark your valuable property like TVs, VCRs, computers, cameras and stereos with your driver's license number.
  • Keep a record of your property in a safe place.
  • Install an alarm system for summoning emergency help.
  • If you park your car outside, never leave a garage door opener in the car.

When you go away

  • Ask a neighbor to collect your mail and newspapers, and offer to return the favor.
  • Put an automatic timer on at least two lights and a radio. Consider photoelectric sensors to turn outside lights on and off automatically.
  • Tell a trusted neighbor when you're leaving and when you'll return. Include an itinerary and phone numbers where you can be reached in an emergency.

Neighbors Helping Neighbors
There's more to crime prevention than locks and lighting. The fact is, concerned neighbors who watch out for each other are the front-line defenses against crime.

  • Get to know your neighbors and discuss your concerns about the neighborhood.
  • Be alert to things that invite crime like poor street lighting, boarded-up buildings, a lack of recreational activities or jobs for teens, vacant lots littered with debris and inadequate day-care and after-school programs. Work with law enforcement, civic groups, schools, churches and service clubs to solve the problems.
  • Alert law enforcement to suspicious activities and any crimes.
  • Report nonworking street lights, abandoned houses and other problems.
  • Join a Neighborhood Watch group. If there's no Watch organization in your neighborhood, start one with help from local law enforcement and community groups.

Joining a Neighborhood Watch

Neighborhood Watch, Block Watch, Town Watch, Crime Watch-whatever the name, it's one of the most effective and least costly ways to prevent crime and reduce fear. Neighborhood Watch fights the isolation that crime both creates and feeds upon. It forges bonds among area residents, helps reduce burglaries and robberies, and improves relations between police and the communities they serve.

A few concerned residents, a community organization or a law enforcement agency can spearhead the effort to organize a Watch. Members learn how to make their homes more secure, watch out for each other and the neighborhood, and report activities that raise their suspicions to the police or sheriff's office.

Watch groups are not vigilantes. They are extra eyes and ears for reporting crime and helping neighbors. Neighborhood Watch helps build pride and serves as a springboard for efforts that address community concerns such as recreation for youth, child care, and affordable housing.

Moving Thoughts

Whether moving takes you across town or across country, it can be a very busy time. The stresses of the move itself are usually compounded by worries of what life will be like in your new home or town; but, it can also be an exciting time of renewed opportunities and fresh experiences! Statistics show that each year one out of every five families moves. They survive the upheaval-and so can you!

Organization-not only physically, but mentally-is important to maintain. A good way to start is by sorting through your "stuff." Pare down your belongings by having a garage sale or by donating items you no longer need to charity. Then decide whether to move yourself or hire professionals. Each method has pros and cons, and both require comparison shopping.

The Trivia Block

On average, dwellings in Japan have about 989 square feet of floor space per household.

 
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Realty Executives of Aurora | 14901 E. Hampden Avenue Suite 320 | Aurora | CO | 80014

Denver Ranked Fourth On Real Estate Investing List

Denver ranked fourth on real estate investing list

Denver Business Journal

Metro Denver ranks No. 4 on HomeVestors of America Inc.’s new list of the top 10 U.S. markets for residential real estate investing, released Tuesday.

HomeVestors of Dallas — known for its “We Buy Ugly Houses” advertising campaign — specializes in buying, fixing and reselling houses that need repairs. The company has roughly 230 franchises in 35 states.

The top 10 investment markets, according to HomeVest, include:

1. Dallas

2. Houston

3. Atlanta

4. Denver

5. Fort Worth, Texas

6. San Antonio, Texas

7. Charlotte, N.C.

8. St. Louis, Mo.

9. Milwaukee

10. Chicago/Kansas City, Kan. (tie)

Housing rebound: When to spot one

An article from CNNMoney.com, reports that real estate is a local game and your region could be doing better than the country as a whole.  According to the National Association of Realtors, median prices for existing single-family homes in a third of the country's metro areas are actually higher than they were a year ago.  NAR president Richard Gaylord said just as cities moved independently on the way up, they're not moving in lockstep on the way down.  That's why "it's more important than ever to examine what's happening in your city."  One indicator that a turnaround in your market is near is changes in your local job market.  The more new jobs created, the greater the demand for homes.  Conversely, an increase in unemployment, or a persistently weak labor market, can let you know a recovery may still be far away.  Mike Larson, a real estate analyst with Weiss Research said the best signposts to look for are a significant reduction in the supply of homes and a jump in sales.
http://money.cnn.com/2008/07/07/real_estate/price_to_rent.moneymag/index.htm?postversion=2008071604


Zero-energy community unveiled

An article from the Rocky Mountain News, reports that a developer unveiled the 250-unit Geos Neighborhood in Arvada.  The neighborhood is being touted as the nation’s largest net-zero-energy, master-planned community with construction scheduled to begin this fall.  Project developer Norbert Klebl said in a statement, “Geos significantly raises the bar for sustainable residential development.  We’re tapping a market of people who want beautiful, affordable homes that support their commitment to a truly sustainable lifestyle.  People want more than a solar panel here or an energy-efficient appliance there — they want their homes to play a key role in minimizing their carbon footprints — and Geos Neighborhood does just that.”  Priced from the $200,000s, homes in the Geos Neighborhood will range from 860 square feet to 3,683 square feet in a variety of housing types, including single-family homes, live/work townhomes, paired homes, row homes, multilevel condos and co-housing. 


Are You a Real Estate Professional? Maybe Not, Says IRS

From the Realty Times - If you're a real estate investor who has ever taken a real estate loss on your tax return, there is a target on your back. For months, members on my Forum have been complaining about being selected for audit, and losing, based on the IRS's new set of real estate professional guidelines. 

http://realtytimes.com/rtpages/20080717_realpro.htm

 

www.judesandvall.com

Democratic Convention-week roadblocks Restrictions affect Speer, Auraria Parkway, light rail, but mayor says downtown staying open

As reported in the Denver Post - Two main thoroughfares bordering the Pepsi Center will close during the Democratic National Convention — a move that will affect thousands of commuters and dozens of businesses. Denver Mayor John Hickenlooper downplayed any expected disruptions from closing parts of Speer Boulevard and Auraria Parkway and light-rail access to the Pepsi Center and Union Station. Speer will be open during the morning commute. "We basically kept the entire downtown open," Hickenlooper said. "If you compare this map to what they did in Boston in 2004, we're closing about one-third as many streets." http://www.denverpost.com/news/ci_9902779

 

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Home Buyers Hopeful About Market

An article from Realtor Magazine Online, reports that according to an online survey of potential home buyers, 44% believe the real estate market will improve once the new president takes office.  The survey also found that 81% say they remain nervous about the current market.  A variety of barriers to buying a home were cited by survey respondents:  28% say they are stymied by the cost of a down payment; 20% are concerned about their income level, and 31% (39% in the West) say home prices are still too high.  Also, 78% of the potential home buyers who responded say they are willing to save or earn extra money for the down payment and are willing to compromise on amenities in their new home to make it more affordable.
http://www.realtor.org/rmodaily.nsf/pages/News2008071602


Habitat for Humanity plans building 'blitz'

An article from the Denver Business Journal, reports that Habitat for Humanity of Metro Denver will hold its 2008 “Home Builders Blitz” Aug. 16-22 in Aurora.  During that time, six local builders will construct four, single-story houses at 18th Street and Altura Boulevard.  Habitat Denver marketing manager Robyn Burns said, “This is an example of builders giving back to the community.”  The Denver Habitat group started in 1979 and has built 320 houses for more than 1,250 people.  The non-profit, affordable housing group plans to build 38 houses this year.
http://www.bizjournals.com/denver/stories/2008/07/14/daily28.html?b=1216008000^1669482


Summer Skill-Building Techniques

Summer Skill-Building Techniques, an article from RealtyTimes.com, reports that there are a few ways to help today's real estate agents make the most of their summertime.  First, take a CRS course.  These accredited courses, which may take only one or two days to complete, offer a variety of topics and tools to help brokers and agents fine-tune their skills.  Another way to sail into the second half of the year is to revisit your plan.  June and July are a great time to walk through that business plan you set in motion back in December.  This time of year presents a good opportunity to re-evaluate your plan and talk to your manager, a fellow associate and your family.  Your goals and their goals need to coincide for your best chance at success.  Finally, schedule some deserved R&R.  When times are tough, everyone needs a break, so schedule your days to include some downtime to relax and rejuvenate.
http://realtytimes.com/rtpages/20080714_summerskill.htm