Real Estate and Elections
Hi Friend,
Mid-term elections are around the corner. Ads are raining down from every possible medium invading your favorite shows and football games (that's my pet peeve grrr), radio, internet and even Pandora. Well, as much as it is an inconvenience, being informed and participating in the electoral process is a right we should all exercise. The following are some issues to think about when it comes to real estate and housing.
- Mortgage Interest Deductions: The ability to deduct interest paid on a mortgage is a huge benefit of homeownership. Rent is not deductible. Supporting to keep this benefit is always a priority.
- Fracking: The National Association of Realtors has a neutral stance. For owners, issues to consider include impact on insurability of the home, loan implications about mineral rights, storage and use of hazardous materials and drilling, the impact on home values and quality of the neighborhood and the environment.
- Affordable Housing: Has the housing recovery been too successful? Demand in the market has created challenges in finding affordable housing for home buyers as well as renters. Improved policies around material defect lawsuits and HOA rights, incentives for new construction and redevelopment would help. More on that below.
- Credit Policies: This can get complicated and boring fast. In a nutshell, the idea is that the Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, stick to policies that do not keep buyers from accessing loans.
NAHREP Policies
The National Association of Hispanic Real Estate Professionals puts forth annual policy recommendations regarding home ownership, specifically impacting Latino communities. Below are the position statements for 2014:
1. Inventory Disposition: There is currently a lack of inventory in the marketplace caused by the financial services industry's failure to manage distressed properties in the best interests of the community.
2. Housing Finance Reform: NAHREP supports comprehensive reform of Fannie Mae and Freddie Mac (the "GSEs"); however it is critical they are replaced with other government programs that provide the same level of support to the a ffordable housing market.
3. Immigration Reform: We urge Congress to enact immigration reform and we have highlighted the positive impact passing this reform legislation will have on our economy. NAHREP calls on Congress to take specific actions we outline to ensure passage of immigration reform.
There you go. More to think about. Well, go out and vote!
As always, contact me via email at rogelio@rentandbuyhome.com or 720-253-8513 if you have questions about buying or selling your home.
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One property insurance claim can hike your premiums by hundred
from cnnmoney.com
File just one property claim to your insurer and you can expect to see your premiums soar by hundreds of dollars in some states.
On average, filing a single claim -- for anything ranging from a stolen bicycle to tornado damage -- will result in your monthly premium being raised by 9%, according to a report released by InsuranceQuotes.com. File a second claim and premiums climb by an average of 20%.
Winning a small claim could actually cost you money in the long run," said Laura Adams, InsuranceQuotes.com's senior analyst.
Click for full article.
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Denver Nuggets Tickets!
The NBA season is starting and Vida Real Properties has your Nuggets tickets again. For a chance to win two tickets to the game vs the Oklahoma Thunder on November 19, like Vida's Facebook page or find the tickets giveaway post and tag the friend you would take to the game. |
Trick or Treat
What do I do for Halloween? Well, a few things things come to mind. For a few years I helped organize a rock show and costume party called Noche de Muertos. That was fun but lots of work. I do enjoy wearing costumes so I usually make it to at least one costume party.
The other thing that I am more consistent in participating and that feels more rewarding is Mexico's historic tradition of honoring our dead with a "Dia de los Muertos" ceremony. I'll be doing that this year again. Here's a little take on Day of the Dead. Now you know.
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 College View (Denver)
In this Won't You Be My Neighbor? edition, we look at South Denver's College View Neighborhood. The map above shows homes that sold, are under contract and active for sale for the last 90 days as of 10/28/2014. The table below shows the details for the active for sale properties. There are only six active listings with prices from $95,000 to $530,000. That's a huge difference given the small area for College View. Look at the beds, baths and square footage for the homes.
 College View is in an interesting part of town that does include parts of Denver, Englewood and the city of Sheridan. Overall, it is considered an affordable neighborhood in the Denver Metro Area. As anything else, a lower price comes with its trade-offs. As an agent I can provide resources for you to study the neighborhood, school information, even crime statistics but it is your personal opinion on how the information influences your decision when buying a home. Click here to research demographic data for College View.
Remember to contact me to answer any other question you may have at rogelio@rentandbuyhome.com or 720-253-8513.
Data Source: ©1993-1998 Metrolist, Inc. All Rights Reserved. Neighborhood and sold information provided by Onboard Informatics © 2011 Onboard informatics. Information deemed reliable but not guaranteed.
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Preparandose Para Comprar
Las preguntas tipicas de compradores de casa son:
1. ¿Cuanto necesito para comprar?
2. ¿Que necesito de crédito?
3. ¿Puedo comprar con ITIN?
Bueno, una pregunta que normalmente no hacen es cuanto tiempo necesitan para empezar a prepararse para comprar. Yo diria que por lo menos un año. Las respuestas a estas preguntas son más favorables cuando tienen el tiempo para cumplir con los requisitos. Regresando a las preguntas:
1. Sí es posible comprar con un minimo de mil dolares pero ahorita el mercado es muy competetivo y teniendo de $5mil para arriba les da más posibilidades de comprar la casa de sus sueños.
2. Hay prestamos que permiten el uso de credito alternativo tal como su historial de pagos de la luz, agua, celular o seguro de auto. Lo ideal es de tener por lo menos tres cuentas de minimo mil dolares de credito y mas de un año de uso.
3. Si tiene dinero en efectivo, claro que puede comprar casa. El problema es calificar para un préstamo. Aunque es difícil, sí hay dos opciones de prestamos especiales usando el ITIN. Contacteme para darle los detalles.
Cualquier pregunta por favor de llamar Rogelio al 720-253-8513 o mandar email a rogelio@rentandbuyhome.com.
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