Posts Tagged ‘Broomfield real estate


5 Ways to Evaluate the Denver Front Range Real Estate Market

Broomfield Condos for SaleDenver area front range real estate and housing is quite healthy, particularly if you take a look at where the whole thing was at just 4 years ago. This change for real estate sales has been fueled by the increase in front range property values combined with a stronger local job market and a huge reduction in foreclosures and distressed properties. Overall, everything is very different from several years ago.

So in looking at what has happened in the past in our real estate market, will this tell us what will happen in the future? Possibly, but the many indicators cannot give us a unbeatable formula for how values and inventory and demand will all total in the end. But we can still take a look at what has been great here recently and at least be able to determine how the real estate market in Denver will fare in the short term. The following items that we can gauge and evaluate will aid in pointing at the future of real estate in Colorado, and more specifically, in the Denver front range area:

Inventory of Housing is still at a very low level. The rule of supply and demand are obviously dictating the amount of homes condos patio homes and town homes that are available for sale in the entire Denver real estate market. Even apartments for rent and residential homes for rent are in a competitive atmosphere.

First Time Homebuyers in Denver are having to either wait until the market cools a bit, or they will have to come up with money beyond the listed price of a home in Denver to be competitive in the market. Additionally, with the lower amount of homes being listed for sale, particularly at the lower price ranges where most first timers are at, can create limits in affordability and choices for all young adults looking to buy.

Denver Average Days on the Market is the lowest it has ever been and obviously this is due to the short amount of time that it takes for a home seller to get an offer from a buyer. Even foreclosures are closing in the shortest they have ever in the past. Short sales generally are another faster moving transaction as compared to the past.

Distressed Property Sales are at the lowest they have been in years. Foreclosures are at a much more normal rate, 5% or so of the entire market, and we will see the foreclosures continue to drop as the facility in selling a home in our current market continues to be strong.

Home Prices in the Market are showing a slowdown in the upward climb, however, will the prices of homes drop off or stay where they are at? Just keep in mind that the purchase of a Denver home is a place to live first, and an investment second. Always focus on buying a home that you will want to stay in for years to come.

Feel free to call me if you have any questions concerning real estate in Denver or any other areas in the Denver front range. We work with buyers and sellers in the Arvada, Thornton, Brighton, Lakewood and Broomfield real estate markets and would be glad to help in any way that we can.

Shaun Werkele




Broomfield Real Estate Down Payment Information for Homebuyers

If you are looking to buy a home in Broomfield or any of the other areas of the north metropolitan Denver Front Range, you will be glad to know that there is no need to have 20% down payment to purchase Broomfield real estate.
Here are the most current guidelines for down payment requirements for buying a home:
Conventional loans (non-government loans)
  • Primary residence = 3% down with a 680 credit score, and 5% down with a 620 credit score
  • Second home = 10% down with a 620 credit score
  • Investment property = 20% down with a 620 credit score
FHA loans
Primary residence only = 3.5% down with a 580 credit score
VA loans
Primary residence only = 0% down with a 600 credit score
As always, feel free to call us at the Homewerks. We partner with our clients to find a home that is a reflection of that particular buyer’s needs and fits their style. I, Shaun Werkele, have a strong interest in design and floor plan flow which is a great benefit to all my clients as they work through the process of buying a Broomfield home. This is a most important investment decision, work with a good and experienced real estate agent in Broomfield Westminster Arvada areas of Denver and beyond. I have a solid reputation in the Denver real estate market and referrals and repeat homebuyers have been a staple of the Homewerks Team’s business.
Have a Great Day!

Real Estate in Broomfield Areas

Broomfield Loan Information for Buyers on Future Employment/Job Changes

Residential Property in Denver for Disabled
If you are looking to buy a home in Broomfield Colorado then you might want to know that lenders can count income from a job that a borrower hasn’t started yet.
Here are the guidelines: 
  • The borrower must have a non-contingent offer from their future employer
  • The job must be the borrower’s primary job and income source
  • Employment must begin within 90 days of the closing date
  • 1-unit, primary residence purchase transactions only

For more information or any questions you might have you can call us at Homewerks with Keller Williams Realty in Broomfield Westminster Arvada areas and we will be glad to assist you in any way that we can.


Thanks, have a great day!

Shaun Werkele



Broomfield Real Estate Home Loans Information and Basics

In addition to the down payment that you will have to pay as a home buyer in Broomfield Colorado, there are miscellaneous fees charged by those involved with the purchase of your home sale. This is commonly referred to as “closing costs,” and this can get a little involved, so here is a short rundown on what is involved. Every lender must supply you with an estimate 3 business days after you request it in the form of a preliminary closing document. If they will not provide you with this document, then move on to another mortgage lender or bank. This is a requirement by law. Called a Good Faith Estimate, or GFE for short, this breakdown of loan costs gives you a comparable of services and charges that can be compared to other mortgage lenders and banking institutes so that you can get the most ideal loan for your situation.

Items such as your mortgage lender’s fee for processing, the origination fee, and any points to buydown your interest rate are items that are part of the closing costs that have to be paid to obtain the loan. This is one thing that needs to be analyzed closely when comparing lenders for your prospective home loan. Some lenders will offer lower rates than their competitors, and this is accomplished by purchasing points. These are then added onto the loan closing costs. So even if the rate is lower, typically the closing costs are more.

Other charges include taxes and insurance that are paid in advance which are sometimes called “pre-paids.” All lenders have to collect an escrow account for taxes and insurance for your home in advance. This is 12 months in advance and also require a 2 month “cushion.” Another way that a lender will lower their estimated cost for your home loan is by not figuring the total amount that will be required for the escrow on their Good Faith Estimate (GFE). By only allowing for 2 or 3 months escrow for “prepaids,” then they can make the closing costs appear lower. All lenders must set up this escrow for a minimum of 6 months. Keep this in mind when you are comparing Good Faith Estimates. Some lenders will understate this cost, and obviously it would have to be adjusted for the full requirement at closing.

Other fees that are often charged can be for a land survey, a charge to local government offices for recording the deed on the property after closing, Homeowner Association fees, credit reports, and of course, the appraisal. Appraisals should always be part of your estimate, lenders do not pay for the appraisal, you as the buyer, pay for the appraisal, whether it is in the closing costs fees or you pay for the appraisal separately.

Broomfield Homes and Real Estate

Broomfield Homes and Real Estate

If you have any questions about home loans in the Broomfield real estate market, or you have other questions about buying a home in the Broomfield area or any of the real estate listings in Westminster, Thornton, Brighton, Arvada, or Lakewood, then please call us and we will be glad to help you in any way that we can. We are real estate professionals in Broomfield Westminster Thornton Brighton areas and we can offer top service in the real estate market all across the Denver Front Range.

Have a great day!

Shaun Werkele



Broomfield Real Estate is Climbing Higher and Higher!

Some great Denver real estate news for anyone looking to sell a home in Denver Colorado. Home prices are up the most since 2006! This makes it a great time to sell, and if you are looking to buy, it is time to make your move with prices on real estate on the rise.

Housing Price Index 2014

According to Case and Shiller the Housing Price Index is on the rise, as you can see in the chart above. This is from an annual period between the years 2000 and 2014.

Although real estate in Denver is beginning to climb, there are still many great opportunities out there and interest rates are still low. It could cost you on homebuying in Denver if you wait.

Feel free to call us at Homewerks, serving as Realtors in Broomfield and the surrounding areas, and we will be glad to help you in any way that we can. Whether you are thnking of buying real estate in Broomfield Colorado, or you are thinking about listing a Broomfield property for sale. 

 Broomfield real estate

Shaun Werkele

Keller Williams Realty



Broomfield Real Estate is Hot Broomfield Condos are Sizzling!

Broomfield Real Estate Townhome Listing
Broomfield Colorado real estate offers a lot of great housing options, and as we discussed in Info on Buying a Condo for Sale in Broomfield CO on my Broomfield Colorado Homes For Sale blog, condos can be a great option for some. So now that we have established the advantages of condominium homeownership, let us take a look at a few of the more popular areas for Broomfield condominiums for sale.

Some of the most popular areas in Broomfield for condo living are the Venue at Arista, The Falls at Legend Trails in the Broadlands, Vantage Pointe near the FlatIrons mall, and the condos at McKay Landing. All of these condominiums have a little something different to offer the average Broomfield condo Buyer, so I will give a brief description of each.

Broomfield Colorado real estate websiteThe condos at Vantage Pointe Lofts in Broomfield offer the closeness of the FlatIrons shopping mall but still have a “removed from everything” privacy, mainly because there is not a lot of developed housing nearby. Spectacular views of the Boulder mountain range add to this secluded complex with Storage Tech and Interlocken nearby. These units that were built in 2007 offer amenities and features that include a community barbeque area with a stone fireplace, swimming pool, hot tub and exercise room, and depending on whether the unit is on the ground level, have private terraces that adjoin to the living room and make for a great outdoor living area that is ideal for entertaining. Some units have dual master bedrooms and the upgrades have designer touches that you must see to believe that vary from unit to unit. The garages are secure and they have rental suites if you have guests!

Looking to buy a condo in Arista? Then check out the Venue. Venue is part of the master planned community of Arista located in Broomfield at 110th Avenue just east of Wadsworth and next to the 1stbank Center. Residents can walk to their favorite coffee house or restaurant and shop the streets of Arista for books and videos and other specialty items in the neighborhood. What is available at Arista for condo living is live/work lofts, apartment units for lease, and condominiums for sale. This is a “mixed use community” with an easy commute that is provided through RTD park-n-ride located at Arista. The availability of transportation amenities such as a good available park-n-ride and a great Walkscore can increase the value of properties in neighborhoods like Arista. Denver and Boulder are a quick commute with U.S. 36 right there.

Mckay Landing is a great choice for condo living with the proximity of the Broadlands golf course, and McKay Landing has its own recreation center and community clubhouse. Schools for McKay Landing include Meridian Elementary, Westlake Middle School, and Legacy High School. There is a lot of great shopping nearby. Although the shops at Orchard Town Center are in Westminster, located off I-25 and 144th Avenue, the closeness to north Broomfield make this a great leisure shopping resource with many outdoor stores and restaurants and the AMC Orchard 12 Theater. The complex is just west of I-25 on 144th Avenue and just east of the Broadlands. Biking and walking trails are abundant and the neighborhood is in a private location that’s loaded with friendly and warm hearted people. A community pool and nearby open space ribboned around McKay Landing Lake make for a great community for relaxed living.

The Falls at Legend Trails is a beautiful and quiet area within the Broadlands and the walking paths and the proximity of Plaster Reservoir make it ideal for enjoying the outdoors and the amenities nearby. The homes in the Falls at Legend Trails are patio style with many units at the entrance having waterfall views of the falls that flow into the beautiful pond with ornate flowers that architect the surroundings which make the Falls at Legend Trail an amazing place for condo living. The Broadlands Golf Course is a short walk away and these are quiet and private unit patio homes that are very appealing visually.

So you might have some reservations about buying a condo in Broomfield. Like resale value – when you want to list that condo in Broomfield for sale. Right now, condos are selling very well in the market and if you were having difficulty selling, you could rent the condo out because currently the vacancy rate for rental properties is at 1-2% depending upon the area in Denver. Check into condos, they might be a better fit for you than you think they are!


Shaun Werkele



Broomfield Real Estate & Bankruptcy Requirements

Broomfield Real Estate Information

Broomfield Colorado Buying Real Estate and Bankruptcy

Broomfield CO Homes for SaleIf you need to find information on bankruptcy when you are looking to buy a Broomfield home for sale, here are some basics for you so if you have declared bankruptcy you will know what your restrictions are and what you might need to do, or even not do so that you are able to buy real estate.
You must wait 2 years after a bankruptcy has been discharged before you can buy a home. The most important thing you must do is re-establish credit after the bankruptcy. This starts with not having any late payments of any kind for twelve months, a full year, before the loan application for a home mortgage. This includes collection accounts that you might owe.
The down payment to purchase a home is the same as it is for anyone else. If you are using FHA loan financing to buy Broomfield real estate then the same 3.5% is the requirement.

Keep in mind that there have been changes in mortgage insurance on your home purchase if you use a FHA mortgage loan.

Broomfield Colorado real estate website

The loan interest rates for persons who have been through a bankruptcy are the same as they are for everyone else.

Feel free to call us at Homewerks 303-250-4735 if you have a Broomfield real estate question, or if you need help with searching for homes in the Broomfield area, or any other cities in the Denver Front Range.

Have a Great Day!

Shaun Werkele