Denver Area Market Snapshot - Oct. 2009

    % Change vs
  OCT 09 Prior Month Year Ago
Single Family (Res + Cond)
Active 18,945 -4.48 -18.06
Under Contract 4,910 -6.08 9.01
Sold 3,958 2.91 -7.57
    Avg DOM 93 -2.74 -1.59
    Avg Sold Price $238,807 -4.90 2.81
Residential
Active 14,376 -4.45 -19.43
Under Contract 3,800 -5.68 4.14
Sold 3,052 1.70 -9.86
    Avg DOM 92 -4.17 -1.08
    Avg Sold Price $261,771 -4.61 4.64
Condominium
Active 4,569 -4.57 -13.43
Under Contract 1,110 -7.42 29.82
Sold 906 7.22 1.12
    Avg DOM 98 1.03 -3.92
    Avg Sold Price $161,451 -4.06 -1.96

Featured Property

Mortgage Interest Rate Report

 recent interest rates for 30 and 15 year fixed rate mortgages
YOU ARE NOT ALONE IF YOU ARE HAVING TROUBLE
PAYING YOUR MORTGAGE!
 
 
If you are having trouble paying your mortgage for any reason, or expect any problems,  you should work with your lender and a Realtor® to find a solution now. If you fall behind on payments and don’t take action now, the lender could foreclose on your home.  OUR TEAM SPECIALIZES IN SHORT SALES, AND WE WORK WITH THE MORTGAGE COMPANIES AND BANKS!

Even if you are not late on your payments but you are upside down in your mortgage and don't know where to turn, we can help!  
 
 
HOW WE CAN HELP
 
 
Realtors® are in the business of helping people become homeowners and want to do everything they can to make sure you can afford to stay in your home. Make sure you know your options. Talking to your lender or “loan servicer” (the company that collects the payments) would be your first step.  Even if you are not late in your payments but you are "upside down" in your mortgage, you should speak with your lender.  
 
Here are some options:
 
  • FORBEARANCE
  • REINSTATEMENT
  • REPAYMENT PLAN
  • LOAN MODIFICATION
  • DEED IN LIEU OF FORECLOSURE
  • CASH FOR KEYS
  • SHORT SALE
 
Sometimes the best option is to "short sale" your home.   Of course, no one is better at helping a seller than a Realtor®. It may better to consider a short sale rather than go through foreclosure, because it could be easier to qualify in the future to purchase another home, and it could have less impact on your credit.
 
Be wary of advertisements and companies that promote “Cash for Houses in Any Situation” or “We Buy Houses for Cash.” DO NOT PAY money up front to companies who promise they can help you to negotiate with your lender.  Consumer groups have learned that many of these advertisements and companies are scams or are not legitimate companies that bait the homeowners with the promise of rescuing them from imminent foreclosure. Unfortunately, the “rescue” often involves the borrower signing over the house and the family being evicted from their home.

Be sure to always consult an attorney and a tax advisor!