125% Refinance Programs - Fannie Mae DU Refi Plus and Freddie Mac Open Access The government has gotten aggressive recently and approved two 125% Refinance Programs, the Fannie Mae DU Refi Plus and the Freddie Mac Open Access program.  These programs are referred to as 125% Refinance Programs because they allow home owners to refinance their mortgage even if they owe more than the home is worth.  The programs allow for financing to 125% of the value of the home. Here are a few more key  highlights for this great program: If you don't have mortgage insurance on your current home loan, you won't on the 125% Refinance Programs. Lighter documentation is allowed in some cases. Nationwide lending is available. Your mortgage must be serviced by Fannie Mae or Freddie Mac in order to qualify. Yo... 02/11/2010

Herzman Mesa is an older community just south of downtown Evergreen along Highway 73.  Herzman Mesa is easily recognized as you head south from Evergreen on 73 as the turn off which is South Skyline Drive is right across the street from a fire house and the intersection is anchored by a fenced in mini storage facility. The community is basically a large circle comprised of, conveniently named,  Herzman Drive and Mesa Drive bisected by Skyline Drive.  Adjacent to Herzman Mesa is Cub Creek Ranch a custom, newer home community of large acreage and Evergreen Sunset Heights a little known community on the east side of 73 across a broad valley with terrific views of Mount Evans. Homes in Herzman Mesa are typically moderately priced, usually in the $300s-400s although occasionally a nicely rem... 02/10/2010

Mortgage Market Update by RJ Baxter First Mortgage Corp Last week was an interesting week as we saw rates improve significantly.  Why? There were several factors at hand that affected mortgage rates for the better.  The big one was the announcement that unemployment is uglier than we thought. Yes, the overall unemployment rate went down to 9.7%, but keep in mind that this could just be statistical noise.  The big numbers were the weekly claims in at 480,000, and the 2009 numbers which were revised to reflect 1,000,000 more jobs lost than previously reported.  This is the big whammy that sent investors to safe-havens like bonds.  When bonds are being purchased, mortgage rates improve. The other important announcement was global economic concerns and specifically the concern about Europea... 02/08/2010

Refinance Home Loans in Evergreen Colorado Despite the poor economy, most people can still refinance their mortgage.  There are many programs available for Refinance Home Loans right now with all of the government stimulus programs that have come out.  The great thing about working with a credit union like First Mortgage Corp is that we have access to all of the Refinance Home Loans available in the marketplace and can shop your scenario to over 30 banks to find the best deal. If you owe more on your home than it is worth, there is the Making Home Affordable program.  This program allows home owners to access to Refinance Home Loans that carry excellent rates despite high loan-to-value ratios or negative equity. Your mortgage must be owned by Fannie Mae or Freddie Mac to take advantage ... 02/03/2010

Jumbo Home Loans in Evergreen Colorado Good news!  Affordable Jumbo Home Loan financing can still be found. A Jumbo Home Loan is one where the loan amount exceeds $417,000.  Not difficult in some areas of Colorado, including Evergreen, Boulder, and Summit County, to name a few near Denver.  In some of those high-cost areas, your loan amount must be much higher to be classified as a Jumbo Home Loan, so you may fall into a category called "Conforming High Balance."  It's good news if you do, because conforming high balance loans have rates only slightly higher than a conforming loan less than $417,000. However, if you are not in the conforming high balance category, you are probably seeking a Jumbo Home Loan.  There is a perception that these loans are impossible to get in today's banking... 02/02/2010

I need to hear from my Activerain colleagues regarding an incident that I experienced today.   Quick background: I helped a nice couple buy a home in the Front Range community of Conifer, Colorado 4 years ago.  Tragically, 1 year later, I had to offer my condolences to the husband as his wife unexpectedly died.  I was excited to hear, in April 2009, from his fiance who needed my help with remodel suggestions for his Conifer home.  He was such a nice guy and I was so happy he found someone new to move forward with.  For the next 8 months I communicated with her about ideas and potential market values.  Yesterday, I got an email from her giving me a heads up that I should be in contact with her daughter in Wisconsin regarding putting her original home on the market in Evergreen. Now that ... 02/02/2010

So this past weekend I went out with a Buyer who came to my Downtown Evergreen office because the agent they were using was based 40min away in the "flat lands" of the Denver Metro area and they didn't feel she was qualified to consult them.  I learned this agent had nothing positive to say about living in the beautiful foothill mountain community of Evergreen and Conifer.  This agent's advice for this buyer centered around "your car will get dirty from the dirt roads", "you don't get A/C in most of these homes", "homes in the mountains are so different from one another", "if you plan to sell, it's going to take a year or more to do that in the mountains". It's upsetting to hear that this agent (a 10yr veteran) responded to her buyer's request to live in a location with "you really don'... 02/01/2010

Mortgage Market Update Monday, February 1, 2010 Last week was highlighted by several big events that caused a ton of volatility in the markets.  On Wednesday, the Fed policy statement was released and there were two key announcements that are important for mortgage rates.  For one, the Fed annouced that they will in fact end the MBS purchase program in March as expected.  There was wide-spread speculation that they may extend  this program which has been a key driver in keeping mortgage rates low for over a year, so this announcement is big news and should be a strong factor for home owners to get off the fence and lock in a great rate while the getting is still good. The other key announcement was that the Fed stated they would keep interest rates low for an extended period.  The effec... 02/01/2010

Energy Efficient Mortgage - Got Solar? The planet is going greener and greener every day, and home building is no exception.  In our neighborhood alone in Evergreen, Colorado, there are three homes within our block with solar power.  We have been thinking about retrofitting our home as well.  But the problem is, how can an avergage middle-class family afford an expensive retrofit solar system?  These setups can cost upwards of $30,000 for an average sized, 2500 square foot home.  This is where the energy efficient mortgage can help. The energy efficient mortgage is a program that allows home owners to refinance their home and roll in the cost of energy efficient improvements.  Solar is not the only thing that can be financed.  Insulation, windows, and heating and cooling systems are jus... 01/29/2010

Evergreen Colorado Mortgage Market Update - RJ Baxter First Mortgage Corp Last week saw quite a battle unfold between the bulls and the bears in the mortgage bond markets.  Bond prices battled around the 200 day moving average all week, an important level of support or resistance that can effect mortgage rates long-term.  Despite starting the week below the 200 day moving average, bonds closed Friday above this important trend line, which changed it from a resistance line to a support line.  See chart below- this is a positive for home loan rates. The net effect was that Evergreen Colorado Mortgage rates ended the week slightly better than the previous week and at the best levels we have seen since early December.  This week brings some interesting economic reports and activity that cou... 01/25/2010

Freddie Mac Open Access Program - Evergreen, CO As part of the government's Making Home Affordable refinance program, the Freddie Mac Open Access program was released recently.  This new program helps families with Freddie Mac backed mortgages to refinance under the initiative, where previously they may not have been able to take advantage of this program. The major change is that home owners are now allowed to go to a new bank to obtain the Freddie Mac Open Access mortgage, where previously, they had to go directly to their servicer.  This was a big announcement as a large percentage of home owners were unable to take advantage of the low rates we have been seeing prior to the change.  In addition to this change, home owners also can now refinance if they owe up to 125% of their home's... 01/24/2010

Home for Sale in North Evergreen, Colorado - RJ Baxter, First Mortgage Corp Call Assist-to-Sell at 303-670-7100 to schedule a showing on this home for sale in North Evergreen.                 Towering pines highlight this peaceful setting with rolling hills and serenity.  Only minutes from I-70 and North Evergreen amenities.  Great room area makes for enjoyable entertaining with updated kitchen, ceramic counter tops and maple cabinets.  Media and rec room in basement highlight this great home for sale. Recently refinished gleaming hardwood floors and fresh paint along with R49 insulation make for a cozy gathering place for family and friends. Home for Sale: $449,500: Bergen School District, 4 BR/ 3 BA, 3016 sq ft, .84 acres, 2 car attached garage. 2808 Scotia Road; Evergreen, CO 80439  ... 01/22/2010

Why FHA Mortgage Insurance Premiums Are Going Up - RJ Baxter, First Mortgage Corp As you probably already know, FHA mortgage insurance premiums are going up this spring, on a date not yet specified.  Rumors have been swirling about this for months, but now it is a reality.  This change will undoubtedly make it harder for consumers to qualify to buy a home.  So why in light of a struggling housing market are FHA mortgage insurance premiums going up? The reason is fairly straight-forward.  FHA now insures close to 30% of the nation's mortgages, up sharply over the past couple of years as conventional loan have become very difficult for many people to qualify for.  This high level of insured debt has put a stress on FHA's reserves that are required in order to maintain their portfolio.  Fo... 01/22/2010

Cragmont in Evergreen Cragmont is a mountain community south of Evergreen spanning the mountainside and mountain top between highway 73 (which connects Evergreen with Conifer) and Brook Forest Road.  Most of the homes in Cragmont are accessed from highway 73 and include homes in grassy meadows as well as steep mountainside home sites with excellent views.  The lower roads in Cragmont are paved but as you climb up Berry Bush to the top the roads are still dirt.  Many homes have paved driveways in Cragmont which makes snow removal a little easier. Homes in Cragmont have a huge range in ages.  Some homes are little cabins built in 1929 while others are mountain contemporaries with the stickers still on the windows!  Yes there is quite a bit of new construction in Cragmont, primarily on Ly... 01/13/2010

Mortgage Rates to Rise - RJ Baxter First Mortgage Corp Evergreen, Colorado Experts have been talking about it for months, and the scenario seems to be coming into play- It is likely that mortgage rates will rise in 2010. A number of factors are leading to this.  For one, the Federal Reserve's mortgage backed security purchase program is set to expire in March.  We have already seen a slight rise in rates over the past month as the Fed has scaled back their purchases recently. Additionally, signs that the economy is improving and the release of positive economic data are negatives for low mortgage rate fans, as is a stronger economy.  Both of these factors could mean mortgage rates will rise in 2010. But the worst factor that has yet to come to fruition is inflation.  Inflation is the ar... 01/07/2010

Well I'm encouraged by the recent year-end sales statistics for the mountain area I call home.  Just 35 minutes from Denver in the front range foothill communities of Evergreen, Conifer, Golden/Genesee, Indian Hills, Morrison and Pine, the overall impression I got is that we faired pretty good in a "down market".  Most of the area only lost single digit percentages in median home values.  The south side of Evergreen took the biggest hit losing 11.5%.  This is to be expected since that area only lost 1% in value from 2007 to 2008 when values really took a hit all around.  The number of sold homes versus 2008 were fairly even.  Compared to hundreds of less homes sold in 2008 versus 2007....I'm pretty happy about these results. 2010 has started off busy for me.  I've acquired 7 new buyer c... 01/07/2010

I was called yesterday by a Buyer who found me on Zillow.  In discussing her situation, she boldly shared her outrage that the Realtor she was working with wasn't doing anything.  She was spending too much time online looking at homes and sending them to her Realtor so that she can take a look at the house.  She said "just because I can find homes on the Internet, doesn't mean I want to spend all my time looking for my house. Isn't that the Realtor's job."  I took this opportunity to genuinely empathize with her situation.   I have spoken to a lot of people who feel they are doing most of the work in finding a property. Unfortunately, in today's Internet driven society, I think some Realtors have forgotten that we are still the experts and are relied upon by buyers to find their dream h... 01/06/2010

I've written quite a bit about Pond Hockey on Evergreen Lake.  Just wanted to add to the text by discussing how beautiful this is! I'm on the way to the lake right now and have to say this is one of the best wintertime/Christmas spirit traditions we have in the Maiocco Family.  One of the very best times is just after sunset when all the lights from downtwon and the various Evergreen subdivisions are on but there is still some twilight left.  Spectacular!  I'll try to add a video but my previous rwilight attempts have come out too dark... I have added a few pix and videos at the Evergreen web site:  Evergreen Pond Hockey  Enjoy! 01/02/2010

Wah Keeney Park in Evergreen has a variety of very interesting homes for sale.  Wah Keeney Park is one of the early neighborhoods in Evergreen history with some homes dating all the way back to the 1930's.  Wah keeney is easy to find-- it's located just south of Hiwan Golf Club and Stagecoach Road between Hiwan and El Pinal.  Skiers will recognize it as the community behind Paragon Sports while tennis players will see that it is just behind the tennis bubble! In general homes in Wah Keeney are very reasonably priced and together with the adjacent El Pinal neighborhood represent the most affordable home options in North Evergreen. There are a few bank owned homes in Wah Keeney.  I recently made a video of one for an out of town client so they could make an educated real estate decision o... 12/30/2009

Technology can be a beautiful thing.  I have now launched www.daVinciRealtyMobile.com so that a Buyer can locate their dream home while they are away from their computer.  How many times have you been driving around, stopped at a house, saw no flyers, and wondered what's the price or what does it look like inside.  This innovative technology, I've implemented, now gives a Buyer as much detail as us Realtors see, shows pictures, let's you email the home to a friend, and even allows you to click a button to see comparable homes currently on the market. It's FREE and available 24hrs a day.  I want my clients to be armed with the best technology so that the home search process is stressfree. If you try it and your phone's web browser doesn't work, let me know and maybe I can help. Chris M. ... 12/30/2009