Newly remodeled ranch with 3 beds/2full bath; master suite; many custom features like bamboo hardwood, open floor-plan, large backyard, with two 10 x 10  storage sheds. Great neighborhood with schools, lots of shopping and close to I-25.  Can own or rent to own with $3500 down and 100% financing at $1364/month w.a.c.  All credits welcome.  Email interest or call Bob at 720-289-3147.

 

Lease-to-Own Primer
Lease-to-own agreements can help sell a hard-to-sell property during a sluggish housing market. Here’s how they work:

• A seller agrees to rent a property to an interested buyer for a set period of time, usually one to three years. At the end of the lease, the buyer has the option to purchase the home at a preset price.

• A portion of the monthly rent paid during the lease is usually counted toward the down payment. To cover that, the seller charges a rent increment or monthly premium of $200 to $300 compared to comparable rentals.

• Many owners also charge an option fee for taking the property off the market, usually 1 percent to 2 percent of the sale price. This may be applied toward the purchase.

• Sellers have no guarantee that renters will buy at the end of the term, but if they don’t, they keep the option fee and the amount of the rent that would have gone toward the down payment.

Source: Orlando Sentinel (03/09/08)

Rent To Own Home In Denver

Address:3503 GAYLORD STREET	Property Type:RESIDENTIAL	Price:$258,000
Listing #:609828	Status:ACTIVE	PSF:$226.71
	Backup/First:	Fin PSF:$226.71

Area:DENVER NORTHEAST		Parcel ID#:680326110007000	County:DENVER
Type:DETACH SINGL FAM		Sub Area:CHEESMAN & MOFFATS ADDITION	City:DENVER
Style:RANCH/ONE-STORY		Architecture:BUNGALOW	Zip:80205
Faces:EAST		Construction:BRICK	Year Built:1918
NS Direction:NORTH	#:3500	Roofing Material:COMPOSITION SHGL	Builder:

EW Direction:EAST	#:2200	Car Storage:GARAGE	Model:
Map/Section:255 – S		Car Spaces:1	Lot Size:4090
HOA Name:		School District:DENVER	Acres:0.00
HOA Phone:		Elementary:6121,COLUMBINE	Zoned:RES
Total HOA Fees:0		Jr High/Middle:6715,BRUCE RANDOLPH	Unincorporated:
Fee Quoted:	Multiple HOAs:	Sr High:6940,MANUAL	Taxes:904
Fee Includes:			Horses:

TOTAL UPPER MAIN LOWER BASEMENT Bedrooms 2 2 Baths 1 F Square Feet 1138 1138 655 Finished Sq Ft Total:1138 Total Sq Ft:1793 Date Measured: Basement:PARTIAL Bsmt Finished:OPEN %Bsmt Finished:

Master Bedroom: Living Room: Water: PUBLIC Family Room: Dining Room: Sewer: PUBLIC Study/Den: Kitchen: Laundry Loc: Heat: GAS,FORCED AIR # Of Fireplaces: 1 Average Utility:$ Fireplace Loc: LIVING ROOM Subfloor:

Description: CORNER,NO COVENANTS,COVERED PATIO,DISPOSAL,DISHWASHER,FORMAL DINING,GARDEN AREA,GARAGE DR OPENER,MICROWAVE OVEN,PET FREE,PATIO,QUICK POSSESSION,REMODELED,SMOKE FREE,STOVE/RANGE/OVEN,TILE FLOOR,UPDATED, WOOD FLOORS

Public Remarks:CONTRACT FELL, BACK ON THE MARKET! $500 BONUS TO SELLING AGENT IF CLOSED BY 3/31/08 PERFECT BLEND OF NOSTALGIA & UPDATES. NEW KITCHEN W/NEW APPLIANCES,NEW ELECTRICAL, PLUMBING,NEW BATH.GREAT NEIGHBORHOOD,LARGE YARD W/COVERED PATIO.LOTS OF LIGHT& WARMTH.

Broker Remarks:AGENT IS RELATED TO SELLER. LEASE OPTION AVAILABLE

For more information, please contact

Randy Bell

Phone: 720.373.4700

Email: randy@zerodownhomes.net

www.zerodownhomes.net

Lease-Option Sale Beats No Sale at All
For sellers, builders, and real estate professionals, a lease-option sale is usually better than no sale, and can work for properties in all price ranges. Lease-options can work especially well in markets with an oversupply of homes or condos for sale.

A lease-option is similar to a new-car lease, in that the renter has the choice of buying the property or not by the end of the lease term. Unlike a lease-purchase, which requires the tenant to buy the property within a year or two, a lease-option doesn’t force the tenant to buy.

For both the tenant and the owner, the amount of the monthly rent credit toward the tenant-buyer’s down payment is the key to a successful lease-option.

Here’s a summary of other lease-option perks:

• Upfront option money is smaller than typical home-purchase closing costs.
• The rent credit outweighs lack of mortgage interest and property tax deductions.
• The buyer can “try on” the house or condo before buying.
• The option purchase price is locked in for the lease term.
• The buyer can move in within a few days after signing the lease-option.

Source: Inman News, Robert J. Bruss (02/03/07)

If you would like additional information about rent to own homes in Denver as well as anywhere in Colorado contact us at 720-373-4700.

7 Reasons to Own Your Home

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Online resources: To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at www.GinnieMae.gov.

Rent To Own Home In Denver.

Address:2669 SOUTH JACKSON STREET	Property Type:RESIDENTIAL	Price:$269,900
Listing #:592346	Status:ACTIVE	PSF:$216.09
	Backup/First:	Fin PSF:$216.09

Area:DENVER SOUTHEAST		Parcel ID#:680425431004000	County:DENVER
Type:DETACH SINGL FAM		Sub Area:WELLSHIRE HEIGHTS SECOND ADDI	City:DENVER
Style:RANCH/ONE-STORY		Architecture:TRADITIONAL	Zip:80210
Faces:EAST		Construction:FRAME	Year Built:1953
NS Direction:NORTH	#:2669	Roofing Material:COMPOSITION SHGL	Builder:

EW Direction:EAST	#:4000	Car Storage:OFF STREET	Model:
Map/Section:315 – U		Car Spaces:	Lot Size:6610
HOA Name:		School District:	Acres:0.15
HOA Phone:		Elementary:6456,UNIVERSITY PARK	Zoned:RES
Total HOA Fees:0		Jr High/Middle:6830,MERRILL	Unincorporated:
Fee Quoted:	Multiple HOAs:	Sr High:6970,SOUTH	Taxes:1,168
Fee Includes:			Horses:

TOTAL UPPER MAIN LOWER BASEMENT Bedrooms 3 3 Baths 2 FH Square Feet 1249 Finished Sq Ft Total:1249 Total Sq Ft:1249 Date Measured: Basement:NONE Bsmt Finished: %Bsmt Finished:

Master Bedroom: MAIN LEVEL Living Room: Water: Family Room: MAIN LEVEL Dining Room: Sewer: Study/Den: MAIN LEVEL Kitchen: Laundry Loc: Heat: GAS,FORCED AIR # Of Fireplaces: Average Utility:$ Fireplace Loc: Subfloor:

Description: CABLE AVAILABLE,DBL PANE WINDOWS,FENCE,QUICK POSSESSION,WALL/WALL CARPET

Public Remarks:GREAT OPPORTUNITY! ALREADY HAS SOILS REPORT, ENGINEERING, SURVEY, PLANS, AND IS PERMIT READY. OR JUST HOLD AND WATCH YOUR INVESTMENT GROW. GREAT LOCATION. 2 NEW BUILDS UP RIGHT NEXT DOOR. LEASE WITH OPTION TO PURCHASE CONSIDERED

Broker Remarks:SELLER IS WILLING TO GET CREATIVE.

Directions:COLORADO BLVD TO WEST ON ILLIFF AND SOUTH ON JACKSON

For more information, please contact

Randy Bell

Phone: 720.373.4700

Email: randy@zerodownhomes.net

www.zerodownhomes.net

Rent To Own Real Estate Listing Castle Rock Colorado

Address:7801 UNIVERSAL COURT	Property Type:RESIDENTIAL	Price:$409,900
Listing #:610678	Status:ACTIVE	PSF:$142.52
	Backup/First:	Fin PSF:$142.52

Area:DOUGLAS CO WEST		Parcel ID#:670723110008	County:DOUGLAS
Type:DETACH SINGL FAM		Sub Area:SAPPHIRE POINTE/MAHER RANCH	City:CASTLE ROCK
Style:TWO STORY		Architecture:CONTEMPORARY	Zip:80108
Faces:SOUTHEAST		Construction:FRAME,WOOD SIDING	Year Built:2006
NS Direction:OUT OF AREA	#:0	Roofing Material:COMPOSITION SHGL	Builder:D.R HOTRON

EW Direction:OUT OF AREA	#:0	Car Storage:GARAGE,ATTACHED	Model:BLUE MESA
Map/Section:467 – C		Car Spaces:3	Lot Size:11263
HOA Name:SAPPHIRE POINTE		School District:	Acres:0.00
HOA Phone:		Elementary:7030,CASTLE ROCK	Zoned:RES
Total HOA Fees:48		Jr High/Middle:7320,CASTLE ROCK	Unincorporated:NO
Fee Quoted:MONTHLY	Multiple HOAs:NO	Sr High: 7500	Taxes:3,000
Fee Includes:CLUBHOUSE,COMMUNITY POOL			Horses:

TOTAL UPPER MAIN LOWER BASEMENT Bedrooms 3 3 Baths 3 FF H Square Feet 2876 1246 Finished Sq Ft Total:2876 Total Sq Ft:4122 Date Measured: Basement:FULL Bsmt Finished: %Bsmt Finished:0

Master Bedroom: Living Room: Water: PUBLIC Family Room: Dining Room: Sewer: PUBLIC Study/Den: Kitchen: Laundry Loc: MAIN LEVEL Heat: GAS,FORCED AIR # Of Fireplaces: 2 Average Utility:$ 175 Fireplace Loc: FAMILY ROOM,MASTER BEDROOM Subfloor:

Description: AIR COND-CENTRAL,AGENT OWNER,CABLE INSTALLED,COOK TOP,COVERED PATIO,CUL-DE-SAC,DBL PANE WINDOWS,DOUBLE OVEN,DISHWASHER,FENCE,FIVE PIECE BATH,GAS LOGS,KITCHEN ISLAND,LOFT,LANDSCAPED PROF,MICROWAVE OVEN,MASTER SUITE, NEW HOME,SMOKE ALARM,SELF-CLEANING OV,SMOKE FREE,WINDOW COVERINGS,WOOD FLOORS

Public Remarks:MAIN FLOOR STUDY, COVERED PATIO, LOFT LOW-E WINDOWS, 2 FIREPLACES,HARDWOOD FLOORS GRANITE SLAB COUNTERTOPS, CURVED STAIRCASE, LARGE PRO FINISHED FENCED LOT, CUSTOM PAINT AND BLINDS BUILT IN MEDIA CENTER, MASTER RETREAT, ON THE END OF THE CUL-DE-SAC.

Broker Remarks:LEASE OPTION POSSIBLE. NO SHOWINGS UNTIL MARCH 1, 2008

Directions:I-25 SOUTH TO EXIT 184, LEFT TO CROW FOOT VALLEY ROAD. LEFT INTO SAPPHIRE POINTE. STRAIGHT RIGHT ON CINNABAR, RIGHT ON NEBULA WAY. LEFT TO UNIVERSAL CT. LAST HOUSE ON LEFT.

Rent To Own Home Listing In Brighton Colorado

Address:723 CANYON LANE	Property Type:RESIDENTIAL	Price:$189,900
Listing #:549122	Status:ACTIVE	PSF:$105.38
	Backup/First:	Fin PSF:$105.38

Area:BRIGHTON/FT.LUPT		Parcel ID#:147136016022	County:WELD
Type:DETACH SINGL FAM		Sub Area:HIGHPLAINS FILING #3 PH2	City:LOCHBUIE
Style:TWO STORY		Architecture:CONTEMPORARY	Zip:80603
Faces:NORTH		Construction:FRAME	Year Built:2003
NS Direction:OUT OF AREA	#:0	Roofing Material:COMPOSITION SHGL	Builder:

EW Direction:OUT OF AREA	#:0	Car Storage:GARAGE,ATTACHED	Model:
Map/Section:140 – G		Car Spaces:2	Lot Size:
HOA Name:		School District:	Acres:0.14
HOA Phone:		Elementary:8850,LOCHBUIE	Zoned:RES
Total HOA Fees:18		Jr High/Middle:8852,WELD CENTRAL	Unincorporated:
Fee Quoted:MONTHLY	Multiple HOAs:NO	Sr High:8852,WELD CENTRAL	Taxes:1,238
Fee Includes:			Horses:

TOTAL UPPER MAIN LOWER BASEMENT Bedrooms 3 3 0 0 0 Baths 2 F H Square Feet 1802 Finished Sq Ft Total:1802 Total Sq Ft:1802 Date Measured: Basement:NONE Bsmt Finished: %Bsmt Finished:

Master Bedroom: 23X14 UPPER LEVEL Living Room: Water: PUBLIC Family Room: MAIN LEVEL Dining Room: 12X10 Sewer: PUBLIC Study/Den: Kitchen: 16X11 Laundry Loc: MAIN LEVEL Heat: GAS,FORCED AIR # Of Fireplaces: 1 Average Utility:$ Fireplace Loc: FAMILY ROOM Subfloor: SLAB

Description: AIR COND-CENTRAL,BURGLAR ALARM,CABLE AVAILABLE,CEILING FAN,DBL PANE WINDOWS,DISPOSAL,DISHWASHER,FENCE,FIREPLACE INSERT,GAS LOGS,MICROWAVE OVEN,PATIO,QUICK POSSESSION,SMOKE ALARM,SELF-CLEANING OV,SMOKE FREE,SPRINKLER, STOVE/RANGE/OVEN,UPDATED,UTILITY SHED,WALK-IN CLOSETS,WALL/WALL CARPET

Public Remarks:BEAUTIFUL FAMILY HOME IN GREAT NEW NEIGHBOR HOOD ON QUIET STREET. NICE OPEN LAYOUT WITH SPACE APLENTY IN THE FANTASTIC KITCHEN. THE HUGE MASTER BEDRM HAS 2 WALKIN CLOSETS! ‘HIGHLY MOTIVATED’ SELLERS WILL CONSIDER ALL OFFERS, INCLUDING LEASE W/OPTION.

Fair Isaac Corp., the company that devised the ubiquitous FICO credit scores, announced this week that it plans to roll out a suite of tools designed to predict future default risk.

Fair Isaac says the new products will predict how lenders can offer even more debt to consumers without taking on undue risk.

The update revamps the old credit-scoring formula so that it penalizes consumers with a high debt load more than the earlier version. FICO 08 should increase predictive strength by 5 to 15 percent, according to Fair Isaac’s vice president of scoring, Tom Quinn.

FICO 08 is also expected to do a better job of determining which consumers with past defaults are “more on the road to recovery and should have more of a higher score,” Quinn says.

The new index can look at three consumers with a 700 FICO score and determine which of the three could take on additional debt without defaulting, according to the company.

Source: Star-Tribune, Kara McGuire (01/22/08)

While mortgage rates aren’t specifically tied to the rates the Federal Reserve controls, they are affected by this week’s cuts and they could fall even farther if more cuts follow.

“Mortgage rates already have fallen and they still are falling,” says Dave Loyst, vice president of retail lending at Stearns Financial in San Diego. “Every deal is a struggle, but we’re still doing loans. I think this rate cut absolutely is going to help the real estate market.”

“This definitely will help the mortgage situation,” Loyst adds. “With rates falling, more people are able to qualify for refinancing and more people who were left out from buying homes before will be able to do so now.”

“This is the affordability piece,” says Richard Musci, vice president of Charles Schwab Bank. “Consumers should be able to afford more (of their living and discretionary expenses) at these lower interest rates.”

Loyst concurred with that assessment: “People will come out looking to buy houses…and it will help slow down the depreciation of real estate (values) in certain areas.”

Source: Dow Jones Business News, Jennifer Waters (01/24/2008)