Denver I Q

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-

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