by Larry D. McGee, Denver Realtor on December 29, 2007
The Business Section (Wall Street West) of The Rocky Mountain News (12/29/07) printed one “news” article, on “op-ed” piece, and a rather hard to comprehend Letter to the Editor, all devoted to the housing “crises”. The letter to the editor simply made no sense, as it was difficult to tell if the writer was attempting to champion Realtors or dismiss them as self-serving.
The “news” article had a panic headline - New-home sales plummet in Nov. - , with an inset noting that the Denver-area new home market is down 29% in 2007. Down from [click to continue...]
Written by Larry D. McGee, Denver Realtor -
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by Larry D. McGee, Denver Realtor on December 18, 2007
Maybe not in your neck of the woods, but certainly in Colorado. Erin Toll, the Director of the Division of Real Estate in these parts was the beneficiary of a full page article (with picture) in Tuesdays Rocky Mountain News applauding her announcement of an “emergency rule” prohibiting prepayment penalties extending past the adjustment date of the mortgage interest rate. [click to continue...]
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by Angela Fox on December 17, 2007
Holiday Events in Cherry Creek
There’s Music in The Air:
Starting November 3rd, listen to Derry O’Leary pianist on Saturdays from 12-4pm.
Starting the 23rd, the Original Dickens Carolers will be caroling through the shopping center on Sundays from 12-4pm. And last but not least, listen to local school choirs perform weekdays at noon and 6pm, November 26 through December 14th.
Santa Visits:
Santa will be available [click to continue...]
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by Jerra on December 17, 2007
You may have read the article in The Denver Post last week “Fannie Mae Deems Denver a “Declining Market” (Larry McGee was quoted in the article). To read the headline, you would assume that Fannie Mae had declared the entire Denver Metro area, except Boulder, as a “declining market”. [click to continue...]
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by Larry D. McGee, Denver Realtor on December 12, 2007
Yours truly was quoted in a mostly not accurate article in the Business Section of the December 12 Denver Post. Actually, my quote was accurate,the rest of the article was not.
Denver Post Article
It is easy to understand why the Post’s article was off the mark. Part of the Metro Denver market was categorized as a declining market, that being Adams County. That means that Fannie Mae and Freddie Mac, the nations largest mortgage money creators, want at least 5% down on mortgage loans made in that county if the mortgage loan is underwritten to Fannie and Freddie’s conservative guidelines. While that certainly affects borrowers (home buyers) that have no savings, it certainly does not prevent mortgages being originated in Adams County, let alone the rest of the Denver area. There are still 100% mortgages being granted in the Metro Denver market, but borrowers must have strong credit scores and manageable debt.
The never ending need of everyone (me included) to write the latest mostly incorrect spin on the mortgage “crises” is not helping homeowners, homebuyers, the economy, or the nation at large. The “crises” is mostly perceptual, and made worse daily by the authoritatively uninformed cranking out gloom and doom articles.
The buying public absolutely needs to invest time in learning the real estate and mortgage markets. Spending time with experienced professional Realtors and Mortgage Bankers to really learn the market would save every American time and money. Alas, we seem to want fast, anonymous answers from the internet, even if those “answers” cost us a fortune.
-that’s 30-
Written by Larry D. McGee, Denver Realtor -
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