I am so pleased to have received the honor of being one of 5280 Magazines Five Star Realtor’s. In a survey conducted this year my clients voted me one of the Five Star Real Estate Agents.  Less than 7% of the agents in the Denver area are awarded this honor.  The Top Agent edition of 5280 Magazine will be out in September 2010.        

 Select a FIVE STAR Professional and you have chosen someone who has scored highest in overall satisfaction, through independent research of the FIVE STAR Program. Only 7 percent of professionals earn this award. The FIVE STAR Award is the only one of its kind that incorporates both client and industry professional evaluations.

Thanks to all of my wonderful clients and service providers I work with you continue to make my business successful and enjoyable!

Regards,

Courtney Nelson

Our office had over 130 agents and 70+ vendors donate their time to help a deserving single mother remodel and update her home. See how we changed their lives…. http://www.youtube.com/watch?v=t5EnD5ogx44

Top 5 Colorado Road Trips

San Juan Skyway ~  Travel the “road to the sky” which offers views of the towering 14,000-foot San Juan Mountains to rolling hillsides speckled with ancient native Indian ruins. Soak in hot springs or ride the narrow-gauge railroad. Don’t miss: Telluride, Silverton, Mesa Verde and Pagosa Springs.

Pikes Peak Road Scenic Byway ~ The 38-mile round trip drive to the summit of Pikes Peak takes about two hours. The road is a toll road. There is a restaurant at the summit and the summit offers dramatic views. Don’t miss: Manitou Springs, Seven Falls, Cave of the Winds and Garden of the Gods nearby.

Steamboat Springs ~ “This is the West.” That’s the tagline the tourist folks use to promote this ski town. So, in the summer you expect lots of horse play and rodeos to take center stage. To get to Steamboat take Rabbit Ears Pass from Granby. Don’t miss: Strawberry Park Hot Springs, The Ski Mountain Gondola, Parshall and Kremmling.

Colorado National Monument ~ Colorado National Monument preserves one of the grand landscapes of the American West. You can experience sheer-walled, red rock canyons along the twists and turns of Rim Rock Drive. Don’t Miss: Grand Junction, Fruita, 23- mile Rim Rock Drive, Palisade Peach Festival and Wine Country.

Trail Ridge Road ~ Trail Ridge Road provides spectacular view of the majestic scenery of Rocky Mountain National Park. It is the highest continuous motorway in the United States. Take US 34 from Estes Park to Grand Lake. Don’t Miss: Granby and Hot Sulpher Springs.

Local Farmers Markets

Cherry Creek- Saturdays, May 1-Oct 30^th 8 am to 1 pm, Wednesdays, June 16- Sept 29^th , 9 am to 1 pm. At East 1^st Ave and University Blvd., Denver.

City Park Esplanade- Sundays, May 16-Oct 31^st, 9 am to 1 pm. At E. Colfax Ave. & Columbine, Denver.

Highland United Neighbors- Saturdays, June-Oct, 9 am to 1 pm. At 1500 Boulder Street, Denver.

The Market at Belmar- Sundays, June- Sept, 10 am to 2 pm. At Alaska Dr. and Teller St. just east of Alameda Ave. and Wadsworth, Lakewood.

Old South Pearl Street – Saturdays, June 6-Oct 31^st, 9 am to 1 pm. On the 1500 block of Old South Pearl Street, between Florida and Iowa, Denver.

Golden – Saturdays, June 6- Oct 3^rd, 8 am to 1 pm. On 10^th Street and Illinois St, Golden.

Highlands Ranch- Sundays, May 2-Oct 31^st, 10 am to 2 pm. At 9288 Dorchester Street, Highlands Ranch.

Aurora – Tuesdays, June 22- Oct 26^th, 11 am to 3 pm. At the former city of Aurora Building at 1470 S. Havana St., Aurora.

Stapleton- Sundays, June 20-Oct 17^th, 8:30 to 12:30 pm. At E. 29^th Ave and Roslyn St., Denver.

Littleton – Wednesdays, June 16- Oct 27^th, 11 am to 3 pm. At Aspen Grove, 7301 S. Santa Fe Dr., Littleton.

 Visit www.coloradosells.com to search the MLS

For more information visit www.coloradosells.com and visit my blog!

Visit www.coloradosells.com

or email me at courtneyi@kw.com

or call me at

720-210-7377

www.hometips.com

Do you want to know how to clean your dryer vents, install a garbage disposal or calculate your homes electrical usage? This website, called Don Vandervort’s Home Tips, features tons of easy to read articles and videos, on home improvement projects and over all home maintenance and repairs. In addition to hopetips.com,  www.doityourself.com has a similar format with hundreds of articles to assist you with your home projects.

www.ext.colostate.edu/menu_gargen.html

Are you looking for local gardening advice? Have you wondered why your hydrangeas and clematis vines do not thrive in this climate? Looking for landscaping inspiration? Colorado State University has a great Extension program with online resources and courses for those looking for gardening, landscaping or plant help. There are numerous articles on soil care, native plants, landscaping for energy conservation, xeriscaping, insects and tree and garden care.

www.kitchens.com

Ready to re-vamp or fully remodel your kitchen? Kitchens.com offers interactive resources for kitchen design ideas. View color trends for 2010, kitchen tours and photo galleries of kitchens. Articles range from how to choose the best professional for your remodel to measuring tips. The site also has a message board for people to create a dialogue and ask other fellow remodelers questions.

www.luxuryhousingtrends.com

Are you on top of the latest trends in home décor and design? This website features current trends ranging from etched glass shower doors, retaining walls built from recycled materials, therapeutic massage hot tubs, water park features in your own back yard, oversized laundry rooms to eco-friendly dog houses.

www.mannington.com/virtualdecorator/#/start

Have you always wanted to paint your kitchen a new color or change the flooring in a room? Well, this website allows you to upload photos of your home and then virtually decorate them online. Additionally, Congoleum.com offers consumers the ability to create their own dream room with paint, cabinets and flooring that you choose at http://www.congoleum.com/my_space.html

www.bhg.com

Better Homes and Gardens has the best of all worlds. Choose from Color-a-Room, Color-a-Home (exterior appearance), Design-a-Closet, Plan-a-Garden, Arrange-a-Deck, and Arrange-a-Room. The Arrange-a-Room feature allows you to designate the size of your room and, from drop-down menus, click and drag architectural structures, furniture, and fixtures, such as windows, doors, fireplaces, radiators, outlets, sofas, tables, and toilets.

For more information or to search the MLS for properties please visit www.coloradosells.com

The government has put in place several programs that make homeownership, moving up, or remodeling, more feasible and rewarding. A tax credit of $8,000 is still available until April 30^th, for first time homebuyers. There is also a $6,500 tax credit available for people who are selling their current home and purchasing a home this spring.

Cash for Caulkers/Home Star Program

Currently, there are tax credits/rebates available for Energy Star rated windows, doors, skylights, insulation, roofs, water heaters, heating, ventilation and air conditioning systems, geo thermal heat pumps, small wind turbines, solar energy systems and low flow toilets. In addition, the government and the American Council for Energy Efficient Economy have proposed a program called “Cash for Caulkers” that would reimburse homeowners for energy efficient home projects and appliances. Big ticket items such as air conditioners, heating systems, washing machines, refrigerators, windows and insulation would likely be covered in the plan. According to CNN Money consumers might be eligible for a 50% rebate on both the price of the equipment and the installation up to $12,000. This proposal is still in the early stages, but could be more good news for homeowners who are planning on remodeling or updating their home.

Remodeling Returns

According to remodeling magazine, falling home prices nationally in 2009, pushed the value of remodeling down for the fourth consecutive year. Small-sized projects seem to be the current trend. Remodeling magazine recently came out with its annual report on remodeling returns. In the Denver Region here are a few of the projects that received the highest average returns:

~Window Replacements 81%

~Minor Kitchen Remodel 74%

~Siding Replacement 80%

~Basement Remodeling 74%

~Deck Addition 74%

Here are projects that received lower returns on average:

~Bathroom Addition 53%

~Garage Addition 54%

~Home Office Remodel 36%

~Sunroom Addition 48%

When considering remodeling the most important consideration is what will the neighborhood bear. You want to make sure the projects you are considering are in line with comparable homes in your neighborhood. If you have questions about remodeling projects or want the full Cost vs. Value remodeling report please contact me.

Visit www.coloradosells.com

or email me at courtneyi@kw.com

or call me at

720-210-7377

Stimulus Package and Real Estate

There are new exciting opportunities for buyers because of the recent Economic Stimulus Bill. These opportunities combined with great home prices and low interest rates makes it a perfect time for many homebuyers.

 First Time Home Buyer Tax Credit: Any homebuyer who has not owned a home or not owned a home in the last three years qualifies for a tax credit up to $8,000. This applies to any home that is purchased between Jan. 1, 2009 and Dec. 31, 2009. The credit you can receive is based on your tax liability so if you owe taxes each year you will owe less. If you receive money back at tax time this would be part of your refund. Please check with me and your accountant for more information.

FHA Loan Limits Increased: FHA loan limits have just been increased to $406,000 for the Denver Metro Area and $460,000 for Boulder. Previously the limit was $368,000.  FHA loans are available to all buyers not just first time home buyers. Here are a few of the reasons FHA loans are an excellent option for any buyer:

• FHA allows buyers to provide a 3.5% down payment to purchase a home
• FHA charges less mortgage insurance than conventional loans. If you put less than 20% down you will owe mortgage insurance.
• FHA interest rates are a ¼% lower, on average, than conventional products
• No prepayment penalties on FHA loans and the loans are assumable
• Easy streamline refinances are available
• FHA requires a lower credit score with a minimum of 580 to qualify
• You can have a co-signer on your loan in order to qualify and can also receive gift money from a relative for a down payment

Information provided by Jocelyn Predovich with Limetree Lending 303-325-3578

Market Update

Our local Denver Area real estate market continues to get great press for being one of the least effected real estate climates in the United States. According to Standard & Poor’s Case-Shiller Home Price Indices, “All 20 metro areas are reporting negative monthly and annual rates of change in home prices. Boston, Denver, Los Angeles, San Diego and Washington are reporting a relative improvement in year-over-year returns, in terms of lesser rates of decline than last month’s values.” Denver’s annual decline was only 4% where most cities saw an average of 19% decreases. This is great news!  In January the number of homes under contract in the Denver Area was up 50% from last January and homes are spending less time on the market. We had 11 months inventory of active homes for sale in January 2008 and now have half of that at 6 months supply of inventory. We continue to move towards a more balanced market.  Trends ~ Buyers still are drawn to the short sale and lender owned properties. Here is a breakdown of what these two types of sales are. Short Sales: These properties are homes that a seller has either defaulted on or owes more than the home is worth. They usually are still occupying the property but may have a looming foreclosure date set. Realtor’s can help sell these homes as a short sale while working with the bank to negotiate an offer that is less than the loan amount. Lender Owned: A bank has become the owner of this home because a homeowner lost their home to foreclosure. These homes are popular because the bank is the only party on the other side. Because of their popularity buyers often find themselves in a bidding war. Both short sales and lender owned properties are great opportunities for buyers. Feel free to contact me for more details on the buying process.

Visit www.coloradosells.com and click on SURF MY BLOG for more info

Buy! Buy! Buy! We are still seeing several factors that point to it being an excellent time to buy. Some of the factors are low interest rates, an $8,000 tax credit for first time home buyers and good real estate deals. In addition, sellers are often willing to pay buyer’s closing costs. There are great buys in new construction where builders are sitting on inventory they need to move. Builders are often willing to pay closing costs or offer other incentives in many cases. One market segment buyers are overlooking is normal resale homes (non-distressed homes). Buyers are flocking to the distressed and lender owned properties but are sometimes finding that they are competing with multiple offers which may push the price to or above the asking price. Normal resale properties can be excellent buys, and typically do not need as much work and can close quick. Resale homes tend to be in more sustainable and healthy neighborhoods.

Need Help With A Down payment? Typically, buyers need 3.5% down to buy a home and credit scores need to be above 620 points. There are a few programs available for little or no down. Buyers can qualify for a state based down payment assistance program that loans the buyer their down payment in the form of a 2nd mortgage. All these programs require is the buyer contribute approximately a $1,000. into the transaction. If you are interested in buying a HUD lender owned property, you can purchase a HUD home for only $100 down. If you do not qualify for these programs or do not want to buy a HUD property you can receive a gift towards a down payment from family. Buyers can also use an IRA or solo 401k to buy a home. With the stock market hitting record lows, some people are looking for other options to beef up their portfolio. You can also come up with a down payment the old fashioned way by saving. Here are some tips for saving for a down payment from Broderick Perkins of RealtyTimes.com: • Set up a budget- Account for every penny you earn, every penny you save and every penny you spend, to reveal your spending habits. Get an online assist from Consumer Reports’ recommendations: Buxfer.com, Geezeo.com and Yodlee.com or a good old Excel spreadsheet will do too! • Sell, simplify and organize- Sell items that you will never use or assets that you may not use regularly. Maybe it is a car, recreational vehicle or just stuff. Organize, an organized home is a money and time saving home. • Pull your credit regularly- Look at your credit card statements for accuracy. Negotiate down your interest rate on cards or raise your deductibles on insurance such as health and auto to make your payments lower.

So, You’re Staying Put Some homeowners have decided this is not the right time for them to sell. For those homeowners, many may want to consider remodeling or updating their homes. Contractors are willing to give competitive bids for the remodeling work. With new home construction at low levels, more material and labor are available for remodeling than several years ago. This results in shorter project schedules and often lower project costs. Make sure that you hire licensed and insured contractors with references. There are also tax breaks and credits available on energy efficient appliances and improvements to your home. Some of the remodeling projects that see the best return are: Deck additions, 75% average return: Major kitchen remodel, 70% average return: Minor kitchen remodel, 74% average return: Siding replacement, 70% average return: Window replacement 75% average return.

For a Free Cost Vs. Value Report, Highlighting Returns on Remodels Call Me Visit www.coloradosells.com and click on SURF MY BLOG for more info

What is the FHA 203k Loan?

When buying a home most buyers have a list of things they want to do to the house once they have the money.  For example remodeling the kitchen and bathrooms, finishing the basement, repairing the roof.   Because most buyers do not have the money to do these repairs, FHA launched the 203k program which allows a buyer to roll in the cost of repair(s) into the loan. 

Maximum Money

With the FHA 203k program, you have the access up to the total loan amount you qualify for or $406,000 (FHA Loan limit for Denver County) for repairs/rehab work on the primary residence you purchase.  Yes, this even allows for you to buy a house, scrap it and rebuild a fully customized home.

Eligible Properties

· 1-4 unit properties

· Must be a primary residence, no investment properties.

· Can turn a 1 unit into a 4 unit property

·       You do not have to be a first time home buyer, you can obtain FHA 203k financing multiple times.

Qualification

· 620 Minimum Fico Score

· Bankruptcy must be discharged 2 years ago

· Foreclosure must be 3 years ago

 Down Payment

· Minimum Down payment of 3.5% Can be used in conjunction with CHFA, allowing down payment to be less than 1%

· 30-45 days from contract date, depending on complexity of project

· Project must be completed within 6-12 months after the closing date

· As a division of Universal Lending, we are a full service banker with in house underwriting and funding.

· Very few mortgage companies have been approved to offer the FHA 203k Loan and even fewer of these companies will underwrite these loans onsite.  If you are using a lender that does not have onsite underwriting it could take up to 12 weeks to close this type of a loan. 

· Please call/email Jocelyn Predovich, Senior Mortgage Consultant of Limetree Lending Group (Division of Universal Lending) for questions on the 203k loan.  Phone: 303-325-3578  jocelyn@limetreelending.com

 Repair Ideas

· Upgrade Kitchen Upgrade Bathroom(s)

· Painting Interior/Exterior Finish Basement Replace Carpet·

· Replace Windows Replace HVAC

· Replace Roof Replace Plumbing  Replace Electrical 

· Repair Structural Issues  Septic System/Well Replacement

Credit 101 When Looking To Purchase A Home

Purchasing a home is an in depth process that begins well before you are out looking for homes. It is vital that you know your credit situation and make efforts to maintain your credit especially during the home buying process. When you are actively looking to buy a home it is imperative that you do not do the following without consulting your realtor or lender:

-Purchase a car

 -Make any large purchases (furniture)

-Pay off and close credit cards with long histories

Essentially do not make any moves that would drop your credit score while you are looking to buy a home. It can make the difference of a lower or higher interest rate and sometimes ruin your chances of obtaining loan approval or financing.

Know Your Credit Situation We often avoid pulling our credit score or fail to monitor it. Now more than ever with the lending industry creating stricter guidelines for home loans, credit scores are vital to the success of obtaining a loan. According to Jocelyn Predovich, a senior mortgage specialist, I work closely with, the days of getting a 100% financing without documenting income, having a 580 credit score and $20 in the bank are over. “With a solid credit history of “on time” payments, a 620+credit score, documented steady income and minimum debt- 100% financing is still possible,” says Predovich. For those self employed borrowers who cannot verify income through tax returns, you must have a down payment of at least 10% and a credit score of at least 660. We have identified a few tips to improve your credit scores. Make sure you pull your credit score semi-annually by a reputable bureau such as TransUnion, Experian or Equifax. If there are errors or items that you are not sure about on the report contact the creditor.

Know Your Balances Be conscious of the available maximum balance on your cards. If possible never use more than 75% of the available balance. “Once you have a balance over 75% of the overall limit the credit bureaus view this as being maxed out, demonstrating you are a risky spender, dropping your credit score,” said Predovich. She added, “Never use more than your available balance.” Whether you are carrying a balance on a card or have it paid off fully, do not cancel the card. If you are going to cancel a card only cancel cards with less than 1 year of history.

Establishing Credit If you need to establish good credit or have not established any credit via financing a car, obtaining a loan or having a credit card there are still a few loan programs available for people with little or no credit. “One of the ways to establish credit would be to become an authorized user on a family member’s credit account. “Make sure the person you are “teaming up” with has a good credit history,” stated Predovich. Some credit card companies will allow you to establish credit by starting you off with a self funded savings account. Eliminate All Late Payments Paying a bill or payment late will adversely affect your credit even if it is your first time being late. You can contact the creditor that reports the late payments and request a good faith adjustment that removes the late payments reported on your account. Predovich also encourages you to pay off any past due amounts or collections but only if they are under 2 years old.

To view your credit report you can visit AnnualCreditReport.com, the only federally-sanctioned and cost-free service. For more information on credit or for any questions please contact me at 720-210-7377 or Jocelyn Predovich at 303-325-3578.

New Jobs Denver Area

All of us know someone who is unemployed or “in transition” I am going to be tracking companies that are bringing jobs to the Denver Metro Area. I hope you find this of value and if you know of any companies coming to the Denver Metro Area I would encourage you to add a comment!

Dish Network plans on adding 250 new jobs to the Denver area: visit http://www.dishnetwork.com/ or

http://denver.bizjournals.com/denver/stories/2009/03/16/daily65.html

Ascent Solar plans to add 200 new jobs to Thornton headquarter : visit  http://www.ascentsolar.com/index.php

http://denver.bizjournals.com/denver/stories/2009/03/23/daily26.html

ICF International a global consulting firm opened a new office in DTC this month: visit http://www.icfi.com/ or

http://denver.bizjournals.com/denver/stories/2009/03/16/daily54.html

Schwab to add 500 jobs in Douglas County: visit https://www.schwab.com/public/schwab/home/welcomep.html?src=nay or

http://denver.bizjournals.com/denver/stories/2009/01/12/daily55.html

KeyBank plans on opening 8 more branches in 2009 visit: https://www.key.com/index.html or

http://denver.bizjournals.com/denver/stories/2009/01/12/daily18.html

Oncure brings 40 new jobs to Denver visit: http://www.oncure.com/ or

http://denver.bizjournals.com/denver/stories/2008/11/10/story13.html

Marco’s Pizza opened its first Colorado location in Broomfield and plans on opening 46 new stores in the next few years, visit: http://marcos.com/ or

http://denver.bizjournals.com/denver/stories/2009/03/09/daily71.html

Vesta’s Wind Systems broke ground on two new manufacturing plants in Brighton this month visit: http://www.vestas.com/

http://denver.bizjournals.com/denver/search/results.html

Renewable Energy Systems America is moving its headquarters to Broomfield and may be adding 70 jobs in the next few years visit: http://www.res-group.com/careers/vacancies/usa.aspx

http://denver.bizjournals.com/denver/stories/2008/03/24/daily23.html

Visit www.coloradosells.com to search Denver Area Properties or for Relocation information