All Forum Posts by: Denise Hammond

I think this is a fantastic idea!  Looking forward to meeting everyone at the inaugural meeting!

Can't wait to see everyone, love the new name!

Off MLS Lakewood, Colorado house - contract for sale. Westgate neighborhood, opportunity for good margins. Address: 2679 S. Zephyr Ct., Lakewood CO

ARV: $475-$480k

Comps:  2492 S. Ammons, $480,000

               2492 S. Balsam Way, $475,000, sold in a couple of days $6,000 over list

4 bedrooms, 3 baths, 2 fireplaces, deck off master bedroom.  Opportunity for open concept kitchen to the main living area.

Rehab needed:  approximately $55k, needs updating of kitchens and baths and normal flip cosmetics, shake roof repair.  May need some sewer line repair, will have estimate 8.10.16  Has a newer furnace.

Close on or before 8.31.16

Call me at 303-870-2846 if you are interested in more information and photos.

I'll be there to help Micki's cause to outnumber the guys!

Mindy,

Double checking, your post says it is this Wednesday, which is his typical day, but the link to register shows it as today, 11/9.  Would you double check this?  This is a great topic!

Denise

We are doing a rehab on a rental we bought and need a GC to pull a permit for us in the City of Littleton.  Does anyone have any recommendations?  Our subs are doing the work and are licensed in their respective trades, be we need the general permit.

Thanks for any recommendations!

Denise

In my corporate life I managed a division that provided short sale fulfillment to the large mortgage companies. The list price is somewhat irrelevant to the short sale process from the mortgage company's perspective. If the owner is working to be approved to participate in a short sale program, the mortgage servicer will first make sure they qualify from a financial hardship standpoint, then they will order values (type depends on the type of loan it is, FHA, FNMA, FHLMC, etc.- usually BPOs but sometimes appraisals) and that value will end up determining what offer they will approve.

 They may go about 10% below the value, but at this point the mortgage companies are pretty sophisticated in their short sale practices.  They should move much faster in making decisions than they used to as the CFPB now requires 30 day decision time frames or they are out of compliance with the regulations. Not to say they always make it but they are trying.

Looking forward to it!