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July 2008 Archives

July 2, 2008

Ruth Seibel has this LISTING available MLS: 667261 and these BUYERS

Company: Team Seibel Real Estate/Keller Williams Realty
Agent: Brandon Seibel & Ruth Seibel
Email: teamseibel@gmail.com
Office Phone: 720-323-5839 seibel.jpg
Direct Phone: 303-667-0455

At the NMDRA marketing meeting this morning, Ruth mentioned she has BUYERS:

1. For the Fox Run area, home in the $150k's either newer or fixed already
2. A first time buyer for a detached home with a backyard for $115k or less

She has several homes LISTED, including this one below though she mentioned she has one at 15540 CR 47 in La Salle but it must not yet be up on their website...call her if interested, I think she said $299k.


11353 Grove St, Westminster CO 80031
Price: $474,900
Beds: 4 Baths: 4
Yr Blt: 1999
Fin. SqFt: 4,306
MLS#: 667261

Beautiful Semi-Custom Home W/ Million$ View Gourmet Kitchen! Granite! Hardwood Floors! 4 Bed, 4 Bath, 3 Car Garage! New Carpet! Fireplace! Finished Walk-Out Basement! Vaulted Ceilings! Main Floor Office! Formal Dining! Formal Living! Amazing Home! Air Cond-Central, Cable Available, Ceiling Fan, Cable Installed, Dbl Pane Windows, Deck, Disposal, Dishwasher, Eating Space/Kit, Formal Dining, Fence, Garage Dr Opener, High Speed Access, Hot Tub, Kitchen Island, Master Bathroom, , Newer Carpet, Newer Paint, Pool Community, Quick Possession, Smoke Alarm, Self-Cleaning Ov, Sprinkler, Sump Pump, Tile Floor, Vaulted Ceiling, View Mountains, Window Coverings, Wood Floors, Walk-In Closets, Wall/Wall Carpet

Subarea: College Hills Filing No 8
Total Sq Ft: 4,468.00
Finished Sq Ft: 4,306.00
Zip Code: 80031
Basement: Full, Walk-Out
Car Storage: Attached, Tandem
Construction: Frame/Brick
Style: Two Story
Elem School: Cotton Creek
Middle School: Westlake
SRHI School: Legacy High School
Map: 193 G
Taxes: 3908
Listing Office: Keller Williams Rlty Prof Llc

Download the flyer!

July 3, 2008

Alex Abeyta is definitely Linked In

I caught up with Alex yesterday at his office over a couple cups of a dying breed--- Starbucks (heard they will soon be closing over 600 stores nationwide...)


Between handling a personal plumbing emergency at his home and welcoming a new potential buyer we talked about his best way to find clients:-- "people in this industry have got to get up to speed with technology...being on LinkedIn, Facebook, Igoogle, Plaxo, Craigslist etc is a must"... and his favorite:-- "hand-to-hand networking-- relationships are key" (he belongs to the Broomfield Chamber as their Ambassador).

And many thanks from *my* perspective as a Mortgage Broker-- when interviewing a new buyer--- he had the buyer bring in copies of his tax returns to look at before any further discussion.. like that man!

Alex Abeyta has this LISTING available: MLS 671931

Alex Abeyta
Keller Williams Realty
9191 Sheridan Blvd. Ste 310 alexabeyta.JPG
Westminster CO 80031

Marketing for the week of July 1, Alex has this listing available he wants to highlight:

Listing #671931
4765 CAPITOL Court
Broomfield, CO 80023
bed/bath: 5/3
sq. ft.: 3400


Download the flyer!

A running tab of my EDUCATION

I decided to keep a running tab of all my course work:

So here's my list:

CE Foreclosure and Bankruptcy Class Jan. 11
CE New Contracts Jan. 22
CE Credit Restoration and Financing Mar. 14
CE Meth Labs Apr. 3
CE 2008 Annual Commission Update Course/Frascona Apr 7
40 hr CO MB: Federal Mortgage Regulations - Part I3.75 hour(s) (test) Apr
40 hr CO MB: Federal Mortgage Regulations - Part II3.75 hour(s) (test) Apr
40 hr CO MB: Colorado Legislative Process3.75 hour(s) (test) Apr
40 hr CO MB:Colorado Laws and Regulations3.75 hour(s) (test) Apr
40 hr CO MB:Colorado Real Estate Contract & Foreclosure Process3.75 hour(s) (test) Apr
40 hr CO MB:Fundamental Roles of Mortgage Lending3.75 hour(s) (test) Apr
40 hr CO MB:The Mortgage Process3.75 hour(s) (test) Apr
40 hr CO MB: Basic Mortgage Math1.0 hour(s) (test) Apr
40 hr CO MB:Mortgage Programs and Rate Sheets3.75 hour(s) (test) Apr
40 hr CO MB:Qualifying the Borrower - The Qualification Process3.75 hour(s) (test) Apr
40 hr CO MB:Completing the Mortgage Loan3.75 hour(s) (test) Apr
40 hr CO MB:Residential Lending Compliance & Professional Practices3.75 hour(s) Apr
40 hr CO MB:Mortgage Broker License Exam Prep ONLY2 hour(s) (test) Apr
Credit and Credit Counseling4/13/2008 3:25:57
Effective Borrower Pre-Qualification4/12/2008 9:26:22
FHA Basics and Loan Calculations4/13/2008 8:26:09
Good Faith Estimate and Truth-in-Lending4/12/2008 6:35:19
Industry Overview4/10/2008 1:52:35 PM
Pricing and Rate Sheets4/12/2008 4:33:09 PM
Understanding Mortgage Loan Products4/13/2008 6:08:06 PM
Uniform Residential Loan Application (1003)4/12/2008 3:21:45 PM
Using FHA for Refinances4/13/2008 9:16:25 PM
Encompass Contacts and Loan Origination learn new software May
20 hr OR MB licensing/exam Financial Strategies/AMP May
Freddie Mac Automatic Underwriting Reviewing Collateral Assets/Appraisals June 10
CE FHA and GenMarketing with Land Title June 12
Freddie Mac Automatic Underwriting Benefits of Minimum Documents June 26
Freddie Mac Automatic Underwriting Documenting Income and Employment June 24
Lender webinar 203k/203k Streamline Overview and Filling out the HUD-92900-WS Maximum Mortgage Worksheet July 2
Freddie Mac Automatic Underwriting Home Possible Mortgages July 15.
Commercial Property Small Balance Commercial Loans and Lines of Credit July25

July 4, 2008

Reading John Adams, Freedom and Independence Day

I've been reading the massive tome about John Adams by David McCullough...the one the HBO series used...wanted to read it instead to be able to read his actual writings/letters and such.

adamsbook.JPG An appropriate day to do more reading in it!

(as well had a first time home buyer lead of mine that I found by making outbound calls to a renters list...call me back this morning and finished up his loan application over the phone and ran automated underwriting too... *accepted*...always great when that happens! This man is well on his way to more freedom in his living situation!)

Anyway with the book, I've been hugely surprised learning what really happened in 1776...that John Adams was really the visionary behind the entire Revolutionary War and the Declaration itself...and that Jefferson merely "wrote it up" after Adams did all the heavy lifting...and massively surprised to learn about Adams SALES SKILLS--- single handedly selling a *COUNTRY*, of which he didn't even speak the language!--- to fund several million dollars to the floundering/founding new little USA nation to finish up our war! wow.

So much of this *real* history is written out of our schools these days. These men had such dignity of spirit, character rich with high principles, visions/ideas and vitality they truly inspire to learn the truth. And I'm heartened with our current state of affairs that HBO would make the series and that it would be so successful...really neat.

Even more so when I realized the price most of these founding men made for their great courage...many of their families and their selves damaged, ravaged, hunted down, wealth of property stripped. I'm grateful to them for their sacrifices even as sometimes I forget my freedoms in this country when I'm wrapped up in my own "little story"...but very, very grateful.

And the cool thing about exactly on the 50th anniversary of Independence day, July 4th, 1826, Jefferson dies around noon and Adams dies around 5pm... they were done, they did a fantastic thing, held the vision...and completed their lives even at the same moment!

July 5, 2008

And the email that gets opened FIRST is... (How to Use Your Own Neighborhood to Create More Prospects)

My cousin Marie had her Sixty-Ninth birthday yesterday (April 4th)... (I made the cake... oh, ok, the frosting and the decoration!). marie_bday.jpg We had a quiet celebration at Marie's house with her husband Harvey, herself and I all playing dominoes and eating cake well into the night.

But before we started all the b-day festivities, Marie was showing me her new laptop and how she gets her email....and I had promised to show her how to email a digital photo she had taken... and I realized she was showing me a major marketing idea!

She was so proud to open her email and the first thing she opened was her immediate neighborhood (about 34 neighbors right around her house) "email flyer" that gave all kinds of interesting info...when the next community gathering was, who had found a rental tenant because they were going to be out of State for 6 months, who was going to watch out for the ill neighbor in such and such house...

So... what a great way to keep yourself "out there"... become the reporter, the "neighborhood watch" for just a few of your immediate neighbors, not to market yourself blatantly, but to become involved with your neighbors as a neighbor first. An email is easy and inexpensive.

Attend the next HOA meeting or just door knock a few homes right around where you live, let them know you are their neighbor and want to "go beyond the HOA", ask them what if anything they might want to change in the neighborhood...let them know you are taking it upon yourself to get the scoop and will regularly share...and get their phone numbers and EMAIL. You can always add your little "signature tag line" unobtrusively to bottom of each "neighborhood email report"!

happy hunting

July 6, 2008

Skiing Loveland and Estes with my Nephews

One of my sisters (I have 7 sisters and 4 brothers...) came to visit for a few days with her two teenage sons for the ski season... (March 3rd) we had to do Loveland of course...I'm not a downhill person...snowshoes and cross will do me just fine

Alex, Julie and Sam juliesamalexski.jpg

But I couldn't resist the mountain anyway. In another time I would have gladly camped out on the mountain side, but now I couldn't even find the proper pair of boots to join them so I wore an old pair of horse riding boots and climbed up the side of Loveland with my sister while she was taking photos of the boys... and

Don't *ever* use those boots for anything but riding...needless to say I had a joy-ride down the mountain in the ski patrol sled.... since the boots couldn't get a grip!

eileensamalexski.jpg Alex, Sam and Eileen

July 7, 2008

Colorado Cleaning "Mortgage" House -- Find out who's been naughty or nice!

The Colorado Division of Real Estate is working tirelessly with a proven team of mortgage experts (such as famed mortgage industry watchdog Jim Spray...just google him!) to be sure mortgage brokers in Colorado follow the new State mortgage laws....as well as the Federal ones.

Citations are going down left and right--- less competition!

As a quick note, all mortgage brokers must be licensed as of January 1, 2008 as well as hold a $25,000 surety bond and errors and omissions insurance too in order to be in compliance.

By December 31, 2008, all of them have to have also taken a certified 40 hour education course (I was one of the first ones to make it through-- and did pass-- I'm now in full compliance realsm.jpg) covering all the laws as well as practical matters (doesn't mean they will still know how to explain a Truth in Lending form or Good Faith Estimate!).

There are some exceptions of course... and those can be found out on the Division's site: http://www.dora.state.co.us/real-estate/index.htm.

And check your mortgage brokers advertising too--- all mortgage websites, advertising pieces, etc. must now contain the person's license AND the following sweet little piece of verbiage:

To check the license status of your mortgage broker, visit http://www.dora.state.co.us/real-estate/index.htm

Baby sister's wedding

number 11 of the 12 of us siblings.... in a classic and classy move, Rachel Carda, RN married James David Andrews, MD (David) in Chicago...

completely elegant and wonderfully loving... rachelwed.jpg

July 8, 2008

Miranda Brands Marketing Tip for the Day...

I met up with Miranda Brands of Keller Williams Preferred Realty yesterday...and her very new (3 months old!) little daughter, mirandabrands_mckinley_adj.JPG McKinley.

By all accounts, McKinley is well on her way to a solid real estate career...as she watched Miranda and I for a good hour.... totally enchanted (and totally enchanting!) as we discussed the real estate business and shared some great marketing tips for getting new business.

Miranda's tip for the day: She and her sister regularly send postcards to their immediate neighbors in the community where they live...NOT TO PRESENT REAL ESTATE BIZ or PROMOTION... but to help DRAW HER OWN COMMUNITY TOGETHER with COMMON GOALS and NEEDS for their shared home environment. The postcards share that the sisters "live here too" and care about what's going on in the neighborhood.

This is a fabulous idea since as the neighbors begin to "know" Miranda and her sister as their neighbors first, they will pop up 1st in their neighbors' minds too as someone they can be comfortable with when they look for a Realtor.

Thanks for sharing!

July 10, 2008

Melisa Billman has a LAND LISTING

Speaking of marketing tips, networking "hand-to-hand" as Alex Abeyta likes to call it, can be one of the wealthiest sources of new business.

The NMDRA (North Metro Denver REALTOR Association) Thursday morning marketing meetings (8:30 am every Thursday morning) attests to that as each meeting has several reports of "successes" being passed back and forth.

I met Melisa this morning...melisa_billman.jpg
Melisa Billman
Keller Williams Preferred Realty
9191 Sheridan Blvd
Westminster CO 80031

...she brought her 8 year old son (training him in business connections and real estate already...good for you!) and has this LAND available. In fact, (and here's another TIP from the meeting, thinking around the box as it were) another Realtor(R) spoke up about contacting the City of Westminster to see if they would have an interest in purchasing this land for their historic landmarks projects.






Area Name: N SUBN WEST
Lot Size: 9249 SQ FT


Elementary School: FLYNN
High School: RANUM
Middle School: SHAW HEIGHTS
School District: ADAMS


Listing Price: $68,000
Annual Taxes: $257

If anyone knows of a BUYER looking to build, contact Melisa above.

The Right Expectations.... the Mystery Behind the New CO Mortgage Broker Laws

This will help real estate brokers with expectations from their mortgage brokers, as well as help the expectations of buyers/sellers in the loan process---and hopefully cut down on mistakes-- if real estate brokers know what’s going on in Colorado now since January as well as the current “loan climate” in general…

For me, I went inactive with my Realtor(R) license after talking at length to mortgage industry watchdog, Jim Spray, at the Land Title CE class in March--- he’s on Erin Toll’s mortgage broker task force and I decided....

Continue reading "The Right Expectations.... the Mystery Behind the New CO Mortgage Broker Laws" »

July 11, 2008

Leann Boatright working diligently for her buyers...

Leann Boatright, Boatright & Assoc - Metro Brokers North up on Huron Street...and I had a spirited meeting yesterday to review some of her marketing ideas and to catch up on leann_boatright_emc.JPG FHA changes (constant it seems these days!)....particularly the 203k.

Leann, watching out for the well being of her clients, brought up some current issues they have run up against.....one of her buyers that recently found a fix-up home they liked but were turned down by another lender because it was missing "essential ingredients".... so I gave Leann a few scenarios suggestions she might try with her Contract to Buy/Sell and contingencies... as well as with the 203k that could work for another home that Leann will find for this client.

... (and sorry folks...I finished that lender class recently on the 203k and have been meaning to get some of those guidelines up here on the blog...time is the issue...but I'll get to that soon...)

Leann's marketing tips include using her favorites.... the tried & true Broncos mailings to keep in touch with her current clients and also mailing the "Sold Cards" that are sent out to neighbors around a home that recently sold in order to introduce herself and to keep her info in front of others that are thinking of selling or buying a home.

I shared Alex Abeyta's and Miranda Brand's recent marketing ideas with Leann too...keep the creativity flowing folks!

July 14, 2008

NAR takes a stand on Fannie/Freddie

NAR Statement on Soundness and Importance of Fannie Mae And Freddie Mac

WASHINGTON, July 14, 2008

"The following is a statement by National Association of Realtors® President Richard F. Gaylord:

“The National Association of Realtors® welcomes the strong response this weekend by the Treasury Department and the Federal Reserve Board in response to the market turmoil and apparent overreactions that began last week affecting Fannie Mae and Freddie Mac. The health of the American economy depends on Fannie Mae and Freddie Mac and the steps taken by the U.S. government make clear that the role of Fannie and Freddie, in making fair and affordable mortgage loans available for home owners and home buyers, must not and cannot be interrupted.

“We support the federal government’s actions and authorization to help ensure the ability of Fannie Mae and Freddie Mac to promote the availability of home mortgage credit during a period of stress in the financial markets. Fannie and Freddie play a central role in our housing finance system, and we agree that they must continue to do so as we work through the current housing correction.”

July 15, 2008

Sherry Blake says: Keeping the flyer-box FULL is everything!

Met with Prudential Realtor(R) Sherry Blake yesterday sherry_blake.jpg at a favorite Starbucks (where else!) hangout up at 136th and reviewed a myriad of HUD questions as well as requests for prospect document verifications upfront (can do!).

She's pretty smart to ask for those....

Keep in mind that depending on when a house is found for the buyer, some updated docs could be requested from the buyer after a CBS is signed and also the loan rate might or might not be locked upfront requiring a new Good Faith Estimate to the borrower.

Sherry's marketing tip was to keep her flyer boxes at the signs full. She's been astonished at how many calls she gets off those and puts at least 20 flyers a week in all of them.

If flyers run out....the prospect calls the floor off the sign....

July 21, 2008

Most banks are safe....so is the FDIC?

See the full article from http://www.money.cnn.com:

July 21, 2008: 4:00 AM EDT

"The IndyMac failure will take a chunk out of the fund the FDIC has to insure deposits. But bank experts aren't worried about it running out of money."

"NEW YORK (CNNMoney.com) -- The FDIC has gone out of its way to stress that most banks are safe. But how safe is the FDIC?"

"Shelia Bair, the chairman of the Federal Deposit Insurance Corp., said last week that she believes the takeover of the bank IndyMac, which the FDIC seized on July 11, will cost between $4 billion and $8 billion."

"The FDIC currently has a record $53 billion at its disposal in a fund to payoff customers of failed banks like IndyMac."

The article continues to discuss the issue of the amount in the FDIC fund versus the dollar amounts usually...

Continue reading "Most banks are safe....so is the FDIC?" »

July 24, 2008

STOCKS mixed at open

See full article from http://www.money.cnn.com:

July 24, 2008: 9:34 AM EDT

Amazon's positive earnings boost Techs, but huge loss from Ford and larger-than-expected unemployment claims sink blue chips.

"NEW YORK (CNNMoney.com) -- U.S. stocks opened mixed Thursday as investors worried about rising unemployment and a near $9 billion loss from Ford. Strong earnings from Amazon helped to boost the tech sector."

Economy: The National Association of Realtors®/NAR reported a general decline in the the rate of home sales by owners. Even while first-time home buyers are holding back right now, some US cities are rebounding as their rate of home sales increases.

And here is some good news on gas prices:

Energy: Oil prices are at $125.44 Thursday morning after falling nearly $4 Wednesday on continued concerns about reduced demand. Oil was at a high of $147.27 on July 11.

The average price of a gallon of gasoline is $4.026 a gallon in the United States and is declining for the 7th straight day, according to a AAA daily survey.

NAR update on Home Sales - Down (but not all!)

For more information, contact:

Walter Molony 202/383-1177 wmolony@realtors.org

Existing-Home Sales Down In June

Washington, July 24, 2008

"Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 2.6 percent to a seasonally adjusted annual rate1 of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate in June 2007."

"NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said there is something of a quandary in the current market. “A recent online survey of Realtors® shows...

Continue reading "NAR update on Home Sales - Down (but not all!)" »

July 26, 2008

Ricci Appuglise has this LISTING in Loveland

Ricci Appuglise Brokerage
Thornton, CO 80241 ricci_appuglise.JPG
(303) 903-7277

Marketing week of July 27, Ricci has this LISTING:

IRES # 500177

$1,650,000 cathouse.jpg

The Cat House
Colorado's Premier Cattery
Beautiful 3.17 acre estate in Loveland
Very Profitable In business 28 years and includes;

* The Cat House – an exclusive feline boarding kennel
* The Main Residence – a restored 2797 sq. ft. Farmhouse


* Rental Modular Home
* Rental Duplex
* Summer Kitchen & out buildings

All buildings are separate and in excellent condition. Zoned FA for
unlimited possibilities.


Perfect location for business with high visibility and easily accessible
from I-25 and Hwy 287, yet offers a serene and quiet residence in a park
like setting.

The landscaping is stunning and has been used by...

Continue reading "Ricci Appuglise has this LISTING in Loveland" »

July 28, 2008

Ricci Appuglise has this FIRST TIME BUYER LISTING

Ricci Appuglise Brokerage
Thornton, CO 80241 ricci_appuglise.JPG
(303) 903-7277

Marketing week of July 27, Ricci has this LISTING that would be perfect for a first-time-buyer and NO DOWNPAYMENT - NO CLOSING COSTS scenario!:

MLS # 681770

NEAR FEDERAL and 72nd:

$165,000 6920_ruthway.jpg

DENVER, 80221


Public Remarks:

Property Type: RESIDENTIAL
Construction: BRICK
Style: RANCH
Finished Square Ft: 1950
Bedrooms: 4
Bathrooms: 2
Year Built: 1956
Lot Size: .15
Car Spaces: 1
Basement: PARTIAL
Elementary: F.M. DAY

July 29, 2008

Denver Area Housing May Be Recovering

This article was forwarded from my Land Title rep. Only a snippet is still available at the Denver Post site, but that part was verified.

I found the article interesting because it mentioned the part about smaller-sized houses that were purchased over last year possibly affecting the way stats have been showing a decline in housing prices.


July 31, 2008

New "Housing Rescue Bill", Seller Contributions and the Good News Is...

Most of you have already heard about the "housing/mortgage rescue" law signed into place yesterday, HR Bill 3221.

You can see a list of it's main provisions (distilled from several hundred pages!) below.

Though October 1, 2008 is the date the changes are slated to take effect, the real news is no one quite knows which changes will really happen by then...or which ones will actually be able to be enforced.

One of the rulings of concern for many of you...and for me too...is that seller contributions for down payments are going away (those "no closing costs/no down payment needed" ads!). And the amount required for the down payment for an FHA insured loan has now gone to 3.5%, up from 3%.

However, I heard Nehemiah now has an injunction out against this portion, and who knows how many other Bill changes will be under litigation by October 1st.

Even Freddie Mac hasn't yet gotten any immediate guideline changes and are unsure if it's Home Possible or other DPA Programs will be affected or which new rulings will be ignored or litigated away.

And of course, each lender/bank will jump into the fray and interpret the provisions their own way. This means maybe one particular bank will still allow for a scenario and another bank might not. This law is specific that the lenders, for example in the "short refi's", are not required to participate fully depending on the portion of the provision.

In any case...the good news... the sellers are still allowed to contribute up to....

Continue reading "New "Housing Rescue Bill", Seller Contributions and the Good News Is..." »

About July 2008

This page contains all entries posted to Eileen M. Carda in July 2008. They are listed from oldest to newest.

June 2008 is the previous archive.

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