October/November Real Estate Update

5280 Magazine - 5 Star Real Estate Agent

The Coakley Sacerdoti team was again featured in 5280 Magazine's September Edition on 5 Star Real Estate Agents.  This distinction is awarded to brokers who receive high marks from a survey sent to recent home purchasers.  Brokers must meet both production standards and customer satisfaction. This is awarded to less than 7% of Real Estate brokers in the Denver area.  Thank you for your support!

New Listings All Over Denver!  

UNDER CONTRACT: Washington Park: $515,000 3 Bed/2 Bath Victorian: Virtual Tour

Mayfair/Montclair: $475,000 3 Bed / 2 Bath Tudor  Virtual Tour

Congress Park: $550,000 3 Bed / 2 Bath Bungalow: Virtual Tour

New TRID Is now in Effect!

The Loan Disclosures changes were formally put into effect this past Saturday, October 3rd!  There will be some unforeseen delays as lenders, title companies and realtors work together to understand the ramifications of the new laws, but the consumer has the largest impact on if/when there are delays.  As the new disclosures stem from confirmation of receipt from the borrower on documentation, YOU the borrower must check that you have provided your lender with a response on all of their emails ASAP in order to keep your loan on track!  

Your Home Equity

Understanding what your home's equity may be is one of the most important ways home owners can fully realize the investment potential of owning a home.   Paying down a mortgage, making improvements to your home and price increase are the three principal ways this number increases over time.  To gain some perspective on how much equity you have the potential to realize, the Home Price Expectation Survey put together this chart to demonstrate what you may have to gain by buying now versus later.

Are Mortgages Easier or Harder to Get Post-Recession?

The world of getting a mortgage is a complicated one for many borrowers as the factors relevant to qualifying for a mortgage may not necessarily be in line with a borrower's actual ability to perform the terms of the loan.  After the recession, mortgages were much more challenging to qualify for and it's been a slow progression to loosen lines of credit again to enable both borrowers and unique property to be approved for a loan.  This chart from the Mortgage Bankers Association demonstrates the availability of mortgage credit to consumers since 2013.

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Want to Keep your First Home as a Rental and Buy a New One?  It just got easier....

Fannie Mae has recently updated some of their guidelines which make it easier to hold on to that first home as an investment property and still qualify for a new loan on a principal residence.  Historically, you needed about 30% equity in the first home.  Now, borrowers can use the rental income from their first property to help qualify, which is a huge help to many Buyers.  Another helpful change includes the fact that 100% of a borrowers vested stocks, bonds and mutual funds can be considered as available reserves.