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GRIFFIN HOMES Proudly Presents
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18944 E 16th Pl
Aurora, CO 80011
2 Bedrooms, 2 Baths
Condo - Loft - Townhouse
Re/max Unlimited Inc
GRIFFIN HOMES Proudly Presents3232 S Norfolk Way
Aurora, CO 80013
4 Bedrooms, 3 Baths
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FHA May Ease Seller Concession Cap
Daily Real Estate News | Wednesday, January 25, 2012
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Many in the real estate industry were concerned that a change announced last year to the maximum seller contributions allowed for Federal Housing Administration-insured loans could cause more deals to fall apart. The FHA announced last year that it would cut seller contributions from 6 percent to 3 percent for purchases using FHA-insured loans. Seller concessions, such as seller assistance to buyers in closing costs, can play a big part in FHA-financed home sales and in closing deals, real estate agents say.
Inman News reports that the FHA may be rethinking its seller contribution cap and will likely announce changes to its policy in April.
“Rather than an across-the-board 3 percent ceiling on all FHA mortgages, the new policy would permit higher seller contributions, probably between 4 and 5 percent, on smaller loan balances,” Inman News reports. “Meanwhile, the 3 percent cap would be mandatory on all loan amounts above some yet-to-be-specified limit.”
Inman News also speculates that a dollar ceiling on seller concessions might be announced, like a maximum cap of $6,000 instead of a percentage.
"The FHA is what's keeping us alive," Steve A. Brown, executive vice president of Memphis-based Crye-Leike, told Inman News. "If they do a 3 percent across-the-board limit, that would knock out a lot of our sales. But if they go with some graduated deal tied into lower-priced homes, then we should be all right."
Source: “FHA Concessions on Seller Concessions?” Inman News (Jan. 25, 2012
nd the Color of the Year for 2012 Is …
On January 16, 2012, in Home Trends, by Melissa Tracey
By Melissa Dittmann Tracey, REALTOR® Magazine
It’s bold, bright–and orange. Tangerine Tango is this year’s color of the year, according to the Pantone Color Institute. The reddish orange color takes the place as this year’s hot hue replacing last year’s reddish pink Honeysuckle.
Need an extra energy boost or an attention-getter in a room? Then Tangerine Tango is your pick, according to Pantone.
Yet, “sophisticated but at the same time dramatic and seductive, Tangerine Tango is an orange with a lot of depth to it,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in a statement. “Reminiscent of the radiant shadings of a sunset, Tangerine Tango marries the vivaciousness and adrenaline rush of red with the friendliness and warmth of yellow, to form a high-visibility, magnetic hue that emanates heat and energy.”
Orange has grown in popularity the last few years in fashion. But before you start swapping out orange for everything in home interiors so you can be on trend, recall some of of our previous posts at Styled Staged & Sold: “Orange You Glad You Removed the Carpet?” or “Is That House Orange?! Eyesores Reach New Levels.” This year’s color of the year is best done in moderation when it comes to home interiors.
Photo Credit: Pantone Color Institute
For example, patterned home accessories featuring the color can add an extra pop to pillows, bedspreads, or tabletop accessories. Or, some home owners are even choosing the orange color for kitchen appliances for an extra colorful touch. Or, Pantone suggests, maybe even a painted accent wall in Tangerine Tango can create “a dynamic burst of energy in the kitchen, entryway, or hallway.”
It’s bold, bright–and orange. Tangerine Tango is this year’s color of the year, according to the Pantone Color Institute. The reddish orange color takes the place as this year’s hot hue replacing last year’s reddish pink Honeysuckle.
Need an extra energy boost or an attention-getter in a room? Then Tangerine Tango is your pick, according to Pantone.
Yet, “sophisticated but at the same time dramatic and seductive, Tangerine Tango is an orange with a lot of depth to it,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in a statement. “Reminiscent of the radiant shadings of a sunset, Tangerine Tango marries the vivaciousness and adrenaline rush of red with the friendliness and warmth of yellow, to form a high-visibility, magnetic hue that emanates heat and energy.”
Orange has grown in popularity the last few years in fashion. But before you start swapping out orange for everything in home interiors so you can be on trend, recall some of of our previous posts at Styled Staged & Sold: “Orange You Glad You Removed the Carpet?” or “Is That House Orange?! Eyesores Reach New Levels.” This year’s color of the year is best done in moderation when it comes to home interiors.
Photo Credit: Pantone Color Institute
All I can say about that is YAHOO and it's about time!
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Qualifying for the Best Mortgage Rate
Daily Real Estate News | Tuesday, January 17, 2012
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Many borrowers are finding that the record-low mortgage rates advertised recently are out of reach. So how can borrowers snag these best rates — which for the 30-year fixed-rate mortgage alone has been under 4 percent recently? Basically, they need to prove to lenders they are less risk: Lenders offer the best rates to those who they perceive as low-risk borrowers.
Here are ways for consumers to show lenders that they are low-risk borrowers, according to a recent article at The New York Times:
Credit score: According to one mortgage broker, ideal borrowers nowadays have a FICO score of 740 or higher to qualify for the best pricing.
Property types: Buyers of a duplex, four-unit building, or condo may have a rate premium added. Also, lenders will charge borrowers more if they plan to rent out the property rather than live there.
Down payment: Borrowers who put down at least 25 percent will most likely attract the best pricing, lenders say. “Lenders offer different breaks on rates if equity is higher, so you should ask what is available,” The New York Times article notes.
Also, borrowers who are able to get a low rate now may want to lock it in if they are heading to closing soon. “Lenders typically agree not to change an offered interest rate for 60 days, but borrowers confident of a quick closing may be willing to accept a 45-day rate guarantee, or even a 30-day lock, in exchange for a small discount, because the transaction’s speed helps the lender reduce its risk,” The New York Times article notes.
Source: “Mortgages: Shopping for the Best Rates,” The New York Times (Jan. 12, 2012)
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List of Improving Housing Markets Nearly Doubles in January
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