Fannie Mae and Freddie Mac Shutting Down?

fannie mae

 

Three Congressional Representatives, Democrats from Maryland, Connecticut, and Delaware, introduces housing finance reform legislations  in a recent series of proposed GSE reforms today.

GSE reform refers to the efforts by Congress and the Administration to reform the
institutions that help fund mortgages in the United States. GSE stands for Government
Sponsored Enterprise and is generally used as a generic reference for organizations
chartered by the government to facilitate the flow of money into mortgage products.
Fannie Mae, Freddie Mac and Ginnie Mae are examples of GSEs.

What this may mean to you is the end of access to Fannie Mae and Freddie Mac type loans as we’ve known them.

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Lakewood Home For Sale

IMG_4518How about town home style living in a well-established community in Lakewood, Colorado?

All of the landscaping and exterior maintenance is included and you get a wonderful yard with lush lawns, flowers, trees and decks.

Brand new carpet inside, tons of storage, an oversized garage, and built-ins in the dining room are more of the plusses here.

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Buying New Construction

new-home-construction2If you’re buying new construction (a home that’s never been lived in before) you probably aren’t buying in Boulder. However there are some new developments in and around Boulder and Boulder county.

Some people go by themselves into a new home sales office and sign purchase agreements without learning all the particulars of the document(s) they agree to sign.

There can be critical differences between one builder’s contract to another builder’s contract.  The terms of the contract the builder requires a buyer to sign may include requirements that the buyer pays multiple deposits, that the buyer pays for any “upgrades”, and even sometimes a condition or term that states that you as the buyer are required to complete the transaction and purchase the home even if the appraisal comes in lower than your contract price.

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Buying A Home? Have The Money Ready!

cu boulder old mainIf you’re buying a home in today’s market, you need to be aware that you may be competing with other buyers on several levels.

Besides the possibility of competing with multiple offers, you may be competing at closing. Yes, that’s right, at closing.

One of the most important choices you will make as a buyer will be the lender you choose. It’s not really about the loan’s annual percentage rate. If you’re shopping rates, you may be missing other important key issues.

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Luxury Home Sales Up Almost 25%

Luxury Boulder Colorado HomeDenver metro area Luxury home sales increased almost 25% in May 2014 compared to May 2013.

This is based on data about homes sold for more than $1 million from MetroList and IRES, the two major MLS services which serve the Denver/Boulder front range area.

Boulder saw 20 home sales over $1 million, second to Denver with 36 homes sold over $1 million. There were twelve in Greenwood Village, and eleven homes over $1 million sold in Cherry Hills Village.

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