New Homes for sale in Colorado

Mortgage Giants Making Pay Cuts

Posted on February 24, 2012 by Amitesh

The new heads of Fannie Mae and Freddie Mac, whoever they turn out to be, are likely to be making significantly less than their predecessors. Government regulators are set to cut the executive pay of the two agencies’ new hires, which may make it difficult for the companies to bring in qualified CEOs.

Michael William, Fannie Mae CEO

The move being considered by Freddie is a compensation package of $250,000 to $500,000 a year, with Fannie expected to follow suit with whatever arrangement is approved by regulators.

Such a move would represent a reversal from the types of payment packages that were given to outgoing CEOs who stood to make upwards of $5 million along with deferred and incentive pay.

Large payouts for executives caused a scandal last year as the firms were continuing to report large losses. However, the Federal Housing Finance Agency (FHFA), the agency that regulates the industry giants, defended the pay packages being given as necessary given the skill needed to oversee the two companies that guarantee so many mortgages – about $5 trillion worth.

The CEOs of both Fannie and Freddie have independently announced their decisions to step down from their positions in the companies. The reasons for their decisions were not given, and the timing for stepping down is theirs alone, they said.

As yet, it is unclear how the cuts will affect other senior executives who have payment packages valued at more than one million dollars a year.

Both Fannie and Freddie continue to take losses from mortgages they backed as boom turned to bust in the housing market. A debate is also underway as to whether Fannie and Freddie should continue to suffer losses to help spur a recovery.

Posted in Housing Market | Tagged Fannie Mae, Federal Housing Finance Agency, FHFA, Freddie Mac | Leave a comment

Is Housing Getting Better?

Posted on February 23, 2012 by Amitesh

Signs may be looking up for the nation’s already battered housing market. Housing data show that modest job gains may be aiding the market, as the number of households delinquent on their mortgage payments has dropped to their lowest since the end of ’08.

Several markets hit hard by the subprime mortgage meltdown are showing signs of improvement, both in jobs and in home prices.

One report recently released shows that eight percent of mortgage borrowers were one month or more past due on their payments during the third quarter. This is down from over nine percent a year ago.

The decrease in delinquencies indicates that the housing markets problems aren’t getting worse; however, there remains the issue of a giant backlog of bank-owned foreclosures that many markets must still suffer. This most likely will challenge prices for another year or more.

As of late, delinquencies have moved, for the most part, in unison with employment. As job growth solidifies, the rate of delinquencies should decrease. If borrowers lose jobs or even start to make less money they are likely to be late on payments.

Some small signs of improvement include an increase of almost four percent in the construction of single-family homes. The market is still up against large challenges, like the almost one in four homeowners with a mortgage that owe more than their home’s value.

Housing data has also revealed the reason for a larger backlog of bad mortgages in some states over others. Ninety percent of states that have foreclosure rates greater than the national average are states in which banks must process foreclosures by going to court. Although the process is designed to provide the homeowner with greater legal protection, it has resulted in larger foreclosure backlogs than states that complete foreclosures through an administrative process.

Almost three million mortgages nationwide that were made between ’04 and ’08 ended foreclosed through February. This represents roughly six and a half percent of all mortgages issued in that period.

Posted in Uncategorized | Tagged Foreclosures, Home Prices, Housing, Jobs, Mortgage Borrowers, Weakened Markets | 1 Comment

Trending From the Floor Up

Posted on September 20, 2011 by Amitesh

The new bold up in floors is one that had been put aside in years past. After being walked on and pushed aside, carpets are again gaining in popularity.

Not only is it the feel of wall-to-wall carpeting that is appealing to homeowners, but also the aesthetics of bold colors and patterns.

Carpeting is said to be appealing to most homeowners, while offering up an aesthetic living space.

Homeowners that have spent years with hardwood or tile flooring are now gravitating to the comfort of carpets.

Still, hard surfaces floors have their spots in entryways and high-traffic areas, rooms where the family spends the most time are great places for the soft, cozier feeling of carpeting.

Those in the industry agree that carpets are on the upswing. This can be seen by the carpets being created by manufacturers – carpets with rich colors, patterns and textures. These designs make them focal points in a room, rather than just backdrops.

The bolder the carpet choice the more personalized the room and home feels. With a weak real-estate market, homeowners are no longer so concerned about their home’s resale value; their design choices reflect this.

The taste for neutral colors that was so prevalent before had given way to the bolder choices we see in television shows and, as a result, in more and more homes. Another factor in the more vibrant choices in flooring is the reluctance of homeowners to decorate their walls.

If a patterned carpet doesn’t appeal to you, perhaps a textured one might. Carpets made with yarns of different thicknesses and lengths are great for adding interest to any space.

The fact is that carpets make rooms fell different. The warmth and coziness of the space is felt as soon as you enter it. And since carpets reduce noise, we get yet another level of comfort in the place where we go to escape.

Posted in Home Improvement | Tagged carpet colors, carpeting, carpets, wall carpeting, wall to wall carpeting | 1 Comment

Investors Unclear About Mortgage Deal

Posted on July 26, 2011 by Amitesh

With the uncertainty surrounding soured-mortgage claims, it seems the best policy would be one of openness. The challenge facing bank investors who are trying to determine the risks behind demands that banks repurchase bad mortgages was brought to the fore by a recent deal struck between Ally Financial and the government-owned mortgage company Freddie Mac.

Ally, formerly the financial sector of General Motors but now mostly government-owned, paid out over $300 million last year to Freddie in order to settle mortgage-repurchase claims. The issue, however, is that neither firm disclosed the amount of the settlement at the times. The deal only came to light as part of securities filings on the part of both firms.

For Ally, the settlement payment is not major problem. what is of concern is the failure to disclose and provide details for investors who are hard pressed to make informed descisions without all the facts.

The government’s responsibility is keep. Fannie and Freddie are both government-controlled and these companies guaranteed bank loans amounting to trillions of dollars. Now, with values declining, banks are being forced to repurchased billions of dollars of them. Investors are interested in the government’s ability to recoup taxpayer losses and yet avoid bank destabilization.

The FHFA, the regular for Fannie and Freddie, has the authority to require banks to repurchase more soured mortgages than they already have thus far. This is the reason that disclosure is so important, especially considering that some are concerned that some mortgage settlements were in actuality veiled bailouts for the banks.

Some feel that government involvement in the market is bad enough; not being transparent about their actions is insulting.

Posted in Mortgage | Tagged bank loans, loansmortgage settlements, mortgage, mortgage claims, mortgages | Leave a comment

New Home Plan in Commerce City, CO

Posted on March 13, 2011 by Amitesh

Single Family Home in Commerce City, Colorado

Builder: Centex Homes
Community: Harvest Meadows
Location: Commerce City, Colorado
Price: From $196,990

Plan Name: The Eldridge
Bedrooms: 3
Bathrooms: 2.5
Garage(s): 2
Square feet: 1,799

Home highlights: quality construction, spacious master suite, option to choose vaulted ceilings in the master suite, optional kitchen island, optional fireplace, loft, upstairs laundry.

Home/floor plan description: The Eldridge is a two-story home offering 1,799 square feet, three-bedrooms, and two-full and one-half baths.

Community description: Harvest Meadows an unique community is located in a growing area of Northern Commerce City. For entertainment, residents can visit the new Dick’s Sporting Goods Park arena – home of the Colorado Rapids Major League Soccer team.

visit the community | Centex Homes

Sales office:
address: 10063 Fairplay St Commerce City, CO 80022
phone #: (866) 239-2501

Wheatlands – New Home Community in Aurora, CO

Posted on February 19, 2011 by Amitesh

New Home Community in Aurora, Colorado

Community name: Wheatlands
Location: Aurora, Colorado
Price range: From the low $200s
Builder: Pulte Homes

# of floor plans: 5
Beds (range): 3-4
Baths (range): 2.5
Garage(s): 2

Community highlights: family-friendly community of single-family homes, features to accomodate every taste, energy efficient features, conveniently located to E-470 and Smoky Hill Road.

Community description: Wheatlands is a beautiful community offering plenty of amenities to the homeowners. Residents will enjoy the miles of trails connecting to the Aurora Reservoir, swimming pool, clubhouse and other recreational opportunities. The new homes are built with highest quality materials and the latest innovations.

visit the community | Pulte Homes

Sales office:
Address: 6570 Ider St Aurora CO 80016
Hours: Mon 1p-6p, Tue-Sat 10a-6p, Sun 10a-6p
Phone #: (866) 301-6053

New Home Plan in Reunion, CO

Posted on February 10, 2011 by Amitesh

New Home Plan in Reunion, Colorado

Builder: Shea Homes
Community: Reunion Wildgrass Collection – Encore Series
Location: Reunion, Colorado
Price: From $238,100

Plan Name: Feathergrass
Bedrooms: 3-4
Bathrooms: 2.5
Garage(s): 2
Square feet: 1,908

Home highlights: quality craftmanship, elegant room designs, deluxe kitchen, luxurious baths, upgrade options and energy saving features.

Home/floor plan description: Feathergrass is a grand, two-story home. Main features are fabulous kitchen with nook, eating bar, reference space and pantry, three bedrooms plus a loft that options to a fourth bedroom.

Community description: Reunion Wildgrass Collection – Encore Series is located in a beautiful location with parks, trails, outdoor amenities, and a bright future. The community is well-planned and offers its residents a great lifestyle.

visit the community | Shea Homes

Sales office:
address: 10733 Sedalia Circle, Reunion, CO 80022
phone #: (303) 286-7601

Copperleaf in Aurora, CO

Posted on January 14, 2011 by Amitesh

New Home Community in Aurora, Colorado

Community name: Copperleaf
Location: Aurora, Colorado
Price range: From the high $200s
Builder: Capital Pacific Homes

# of floor plans: 6
Beds (range): 2-5
Baths (range): 2-2.5
Garage(s): 2

Community highlights: loft spaces, finished basements, gourmet kitchens, windows throughout providing an abundance of natural light, large covered front porches.

Community description: Copperleaf offers spacious, high quality homes nestled in beautiful natural surroundings. Homeowners will enjoy endless outdoor adventures, pool and a clubhouse. This unique community also offers a vast network of unique parks, trails and open spaces.

Nearby amenities: Residents will enjoy the conveniences of nearby shopping, dining, employment and other amenities.

visit the community | Capital Pacific Homes

Sales office:
Address: 22022 E. Pennwood Cir. Aurora CO 80015
Hours: Tue – Sat 9-5PM Sun 11-5 PM Mon Noon – 5 PM
Phone #: (303) 400-5590

New Home Plan in Colorado Springs, CO

Posted on January 5, 2011 by Amitesh

New Home Plan in Colorado Springs, Colorado

Builder: Campbell Homes
Community: Jessica Heights @ Feathergrass
Location: Colorado Springs, Colorado
Price: $249,990

Plan Name: Augusta
Bedrooms: 3
Bathrooms: 2
Garage(s): 2
Square feet: 2,610

Home highlights: ranch style home, great room designs, options for upto 5 bedrooms, 3 bathrooms and 3 car garages.

Home/floor plan description: Augusta is a ranch style home with beautiful room designs and offers 3 large bedrooms and 2 bathrooms. It can be extended upto 5 bedrooms, 3 bathrooms and 3 car garages.

Community description: Jessica Heights @ Feathergrass is a beautiful community in Colorado Springs. Some of the amenities the community has to offer are easy access to Peterson and Shreiver Air Force bases, Powers corridor an upcoming entertainment center with a wide array of restaurants, entertainment and shopping. Residents will enjoy the nearby golf course and numerous hiking, biking and equestrian trails.

visit the community | Campbell Homes

Sales office:
Address: 2403 Majestic Plains Court Colorado Springs, CO 80915
Phone #: 719-528-6774

New Homes Colorado