Archive for December 2008

Nitty Gritty on Gov’t Loans

Who would’ve guessed that a government agency responsible for the grade of our beef is now in the lending business, and lending money to home buyers, no less. In fact, government loans are becoming increasingly popular but still many purchasers, and moreso first time homebuyers, are unaware of all the money out there that is available. However, borrowing money isn’t for the guy who can’t make his payments every month. Borrowers must still keep their jobs and their credit. You’ll have to prove you’re worthy!

For all of those who don’t have a lot of money to put down – LISTEN UP, or just continue reading. Through our local Yampa Valley Bank, USDA is offering 100% financing, based on appraised value! Here’s the skinny on USDA:

  • Rates are competitive with current market (today is 5.5%), loans are 30-year fixed rates
  • You do not have to be a 1st time homebuyer but must be for a primary residence
  • There are income guidelines, no monthly mortgage insurance premiums
  • No maximum loan limit and no prepayment penalty
  • No down payment required

And here’s the nitty gritty on FHA (Federal Housing Administration) loans. These are ideal loans for those with low income and savings. These do require money down but as little as 3%. So, if you’re interested in buying a condo on the mountain at $200,000 you only need $6,000. Here are some other things to know about FHA:

  • Finance all of your closing costs
  • Not driven by credit scores
  • Loan limits are $675,000
  • No longer based on strict appraisals
  • No income limits

For further information on these types of loans or any other, please call Kelly Stahl at Prudential. Although selling real estate is my forte, I always like to make sure my clients know all their options when shopping for loans. Call 970.875.2403 or email  kelly@steamboatestates.com

Forbes Magazine highlights the benefits of Steamboat Springs real estate!

Hey, in case you didn’t already know it, Steamboat Springs is a place with “great bones.” This is according to the article in Forbes.com written by Everett Potter on December 8, 2008. If you want to read the article, here is the link. Otherwise, I’ll hit the highpoints.

Intrawest plans to invest as much as $1 billion in Steamboat Springs in the next 5 years….yes, you read that right…and this article was published recently! This classic western town has a great mix of mom-and-pop places, galleries, sushi bars, and boutiques.
It’s snowing as I type, and last year we had a “four wire” winter, referring to the height of the snow on the barbed-wire fences surrounding the local ranch land. The term “champagne powder” was coined here and we are on our way to having an abundance of it! Some of the best tree skiing in the West is right here in Steamboat Springs on Mount Werner, our great ski area.

We have it all, the charm and friendliness of a small western town, the luxurious amenities of other Colorado resort communities, and companies committed to continuing to create that lifestyle.

If you want to check Steamboat out first hand, why don’t you hop a plane from any of 9 major US cities(NY, Chicago, Dallas, Houston, Minneapolis, Atlanta, Salt Lake City, and Denver) on any of 6 airlines(American, Continental, Delta, Northwest, United, or Frontier).

Oh, and don’t forget to call Anne, Pam, or Kelly on the Vanatta team to show you what real estate opportunities await you in the Yampa Valley!

 

Vanatta Group ranks #1 in Prudential sales in Colorado!

The Vanatta team is proud to announce our achievement for the third quarter of 2008. Because of the hard work of Pam and her team, we received recognition with the top Sales Professional Award of Prudential Real Estate Agents in Colorado for residential gross commission income. What this means for you, the seller, is we have been, and continue to work hard and are successfully getting your properties sold. As a buyer, we are finding the homes and land for you at a price that works! Please call and allow us to assist you in your quest for ownership in the Steamboat Springs area of the Rocky Mountains of Colorado!