….but not nearly as bad as other parts of the country!

Home prices in the Denver area have fallen much less than the nation as a whole, according to a closely watched, national report.

Read the full story: Nation outpaces Denver in decline in home prices

Fom the Rocky Mountain News:

The $165 million Pinnacle at City Park South luxury condominium community, which boasts the classic Chamber of Commerce view of Denver – capturing City Park, the downtown skyline and the mountains – is entering its final phase.

Read the full story: Priciest condos excite most interest

If you plan on buying one of these condos, just hope your balcony isn’t downwind from the Denver Zoo.

Article from the Rocky Mountain News:

The overall vacancy rate for-rent single-family homes, condos and other non-apartment unit properties in metro Denver dropped to a six-year low of 4 percent during the second quarter, a state report released today shows.

Read the full story: Vacancies in rental houses, condos at 6-year low in metro

Article from the Rocky Mountain News:

Vacancy rates for rental homes are the lowest in recent memory, thanks to record foreclosures in the Denver area, officials said Wednesday.

Read the full story: Rental houses in short supply

Mortgage article from the Denver Post:

Consumers and businesses struggling with tight credit markets should find relief from the Federal Reserve’s cut in interest rates Tuesday.

Read the full article: Relief for U.S. credit crunch

Another story about moving up to the condo in the sky:

Erik Osborn is planning to transform a nondescript office building in downtown Denver into a luxury residential tower with condos priced at more than $1 million.

Read the full story: Downtown tower makeover to offer luxury-size units

MAP IT: 1800 GLENARM

An article from the Denver Post explores the Colorado Foreclosure Act:

The new law aims to protect homeowners and governs some specific investor actions.

How is the homeowner protected:

Ending such “equity-stripping” abuses was one aim of Senate Bill 71, also known as the Colorado Foreclosure Protection Act as it made its way through the General Assembly in 2006. It became law in January. The practice of equity stripping is now illegal, under the act.

What specific investor actions?

It differentiates between “equity investors,” whose intent may be to purchase the property, and mere consultants who provide help and advice, typically for a fee. Specific standards govern the behavior of each group, with the threat of fines and prison time for violations.

The law says a purchase contract must give the seller three business days to cancel it. It also lays out requirements for a “leaseback,” in which a homeowner sells the property to an investor and stays on as a resident and renter; and for a “buyback,” which gives the seller an option to repurchase the property at a later date.

Read the full article: Foreclosure act: A measure of protection

Bait and switch is a sales tactic that seems to infiltrate every segment of industry. The words “sorry, that’s no longer available, but we have this ___(fill in the blank) available” could fit the car, computer, electronic, et. al. industries.

When your dealing with your homes financing, the last thing you really want to hear is that your mortgage term and rate are no longer available. However, in today’s mortgage world, the mortgage program that you were offered probably was available yesterday but may not be available today.

Home buyers and owners refinancing mortgages are increasingly finding at the closings that their lender isn’t honoring the deal they thought they had locked up.

Read the full story: Tough words on mortgage fraud

The Denver Post explores the mortgage credit crisis from the seller’s perspective:

Gone are the days of a quick sale and a hefty profit. The slumping market has homeowners slashing prices just to garner interest.

Staging is recommended as a means to get your home to sell faster. Also included were staging tips:

Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.

Wash your windows and screens to let more light inside.

Keep everything extra clean. Wash fingerprints from light-switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and indicates that the home has been well cared for.

Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke and pet smells. Open the windows.

Put higher wattage bulbs in light sockets to make rooms seem brighter.

Make minor repairs to problems that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well- maintained.

Tidy your yard. Cut the grass, rake the leaves, trim the bushes and edge the walks. Put a pot or two of bright flowers near the entryway.

Patch holes in your driveway and reapply sealant, if applicable.

Clean your gutters.

Polish your front doorknob and door numbers.

Staging aside, here’s the advice most realtor’s worth their grain of salt will say: A HOUSE, PRICED RIGHT, WILL SELL.

Read the full article: SELLERS: New homes can undermine prices

Last December I had a subprime loan not go through underwriting with an approval. It was awkward for me since I pride myself on being thorough. The start reality is that it was the start of the meltdown of subprime mortgage companies.

The Denver Post explores this issue in depth:

Gone are the days of easy loans. Foreclosures and a subprime loan-market meltdown have left buyers scrambling to ante up.

The article is full of stories from buyers, sellers, investors, et.al. who have been impacted by the credit crunch.

Read the full article: BUYERS: Lenders tighten loan standards

The article is fairly accurate