Robert Anema - HomeSmart Realty

29/08/2024

August 2024 market info. Active listings are on the rise (up 21.6%)

28/11/2023

Fannie Mae now allows 5% down on 2-4 unit properties. The company announced this rule change in October, but it only took effect this month. Here’s what to know:
* The new policy took effect on November 18, 2023
* The past policy required 15%-25% as down payment to purchase a multi-unit property
* The new policy allows buyers to put 5% down
* The new policy applies to several Fannie Mae mortgage types including conventional and renovation loans
* Buyers who use Fannie Mae loans are not subject to FHA loan amount restrictions or closing cost fees
-
This is a great opportunity for first-time buyers and anyone wanting to get into real estate investing.
In the past, buyers only had two options:
a) get an FHA loan that allowed for a 5% down payment but required living at the site for 1 year or
b) buy it as an investment property and put down the required minimum 20%.
With this new policy, buyers can avoid those restrictions AND qualify for bigger loan amounts than FHA regulations allow. This is a big deal.
(Info courtesy of an email from The Blueprint)
and:
https://nationalmortgageprofessional.com/news/fannie-mae-slashes-down-payment-requirements-multifamily-homes-5?utm_source=www.readtheblueprint.com&utm_medium=newsletter&utm_campaign=fannie-mae-makes-major-rule-change
includes:
“Lowering the down payment threshold on 2–4-unit properties is such a critical enhancement to the guidelines for a host of reasons. Predominantly, it immediately becomes a golden opportunity for increased affordability due to the potential income generating possibilities,” Geiser said. “Especially for younger and prospective homeowners looking to engage in a smart way of not only building equity, but also adding an additional revenue stream. One of the surest ways to build wealth over time is to offset a liability with an income-producing asset.”

04/05/2023

FYI: Assessor Level Real Property Appeals ... this info is from the Adams County Assessor website, but all counties use the same calculation.
"Appeals for real property value or its classification are held May 1st thru June 8th. During this time you may appeal your value by mail, email, fax, or in person. (Should these dates fall on Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed on the next business day.)

Real property is reappraised by the Assessor's Office every odd-numbered year.
The value determined by the Assessor for the year of reappraisal is generally used for the intervening year also.
The actual value of real property is based on its value as of the appraisal date, which is June 30 of the year prior to the reappraisal year.
The appraisal data used to establish the value is from the 24-month period ending June 30 of the year prior to the reappraisal year.

Mill Levies may vary in different tax areas. We review appeals for the valuation of the property only, not the amount of taxes you pay.
The value of residential property is based on the market approach to value.
Generally, the value of all other property is based on consideration of the market, cost, and income approaches to value."
https://adcogov.org/assessor

In other/my words: for this reappraisal cycle, the appraised value to become effective in 2023 will be based on the appraised value as of June 30, 2022.
And the data to be used to arrive at such valuation will be from June 30, 2020 until June 30, 2022.
Time adjustments will be made to the older data to account for the appreciation until June 30, 2022.
The above website also has public data available for download.

The Adams County Assessor is a constitutional officer elected for a four-year term. The primary duty of the assessor is to discover, list, classify and value all real and taxable personal property located in Adams County, pursuant to Article X, Section 3, of the Colorado Constitution and to determin...

18/04/2023

FYI: Senior Property Tax Exemption info:
In 2000, voters amended the Colorado Constitution with the adoption of Section 3.5 of Article X. The amendment and subsequent legislation created a property tax exemption for two groups of people: qualifying seniors and the surviving spouses of seniors who previously qualified.

The Senior Citizen Property Tax Exemption is available to applicants who:

* are at least 65 years of age prior to January 1 of the year of application,
* owned their home for at least 10 consecutive years prior to January 1, and
* occupied it as their primary residence for at least 10 consecutive years prior to January 1.

For those who qualify, 50 percent of the first $200,000 of the actual value of the property is exempted. The state will pay the exempted property tax.
If you own multiple residences, only one can be designated as your primary residence. Seniors that were previously approved do not need to reapply.
The application must be filed no later than July 15 to have the exemption apply to your tax bill the following year.
The exemption must be applied for only once and remains in effect for subsequent years as long as the property ownership and occupancy does not change.

25/03/2023

Please feel free to stop by my Open House today from noon to 3 pm at 1742 S Emerson Street in the Platt Park area. Nicely updated 2-story home with 3-car garage, just 3 blocks from Pearl Street shopping, restaurants and pubs.

11/02/2023

07/02/2023

Denver Metro Association of Realtors is reporting a shift in the real estate market. As the mortgage interest rates have been dropping from recent highs, buyers are coming back:

13/01/2023

As we have entered 2023, I’ve made it my personal mission to help home sellers who may be going through a difficult time and need help accomplishing a quick and stress-free home sale.
Do you know anyone going through a divorce who might benefit from free real estate advice?
Get A Copy Of My Free Book Here:

Learn more about Commerce City's local real estate market expert.

30/10/2022

Recently listed: Fabulous home for sale in University Park ... within walking distance to Observatory Park! Fantastic luxury home with 6 bedrooms and 6 bathrooms, plus office and bonus room! The huge kitchen will delight the home-chef! Fully finished basement! And an attached 3-car garage! Total finished = 5,733 SqFt! Have your buyer agent pull up my MLS listing 2698166, or contact me for a private viewing.

22/10/2022

24/09/2019

Looking for good food in a hurry? If so you’re in luck because Colorado is home to some of the best fast-casual restaurants in the entire country! Here are just a few of the local favorites: El Taco De Mexico, Pizzeria Locale, Tocabe, Illegal Pete's, Call, Biju's Little Curry Shop, and Zoe Ma Ma.