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Hi everybody, and welcome to today’s edition of Ask The Colorado Dream House Team. I’m Dan Polimino. Thanks for joining us today. If you’re new to the program, well welcome. This is all about real estate where you live. We happen to be in Denver, Colorado, but if you’re in Scranton, Pennsylvania the information that we give you today works there too.

The reason why we call it Ask The Colorado Dream House Team is because we’re answering your real estate questions and we’re helping you navigate what sometimes can be kind of a difficult market. Two objectives of this show every Tuesday and Thursday is to just give you good database driven information about the market and what’s happening in the market, and then obviously the second part is to answer your questions. Let’s get to the information that’s happening in the market today.

The first thing I want to tell you about is loan programs. I have a lot of loan people call me and want to meet with us and want to earn our business. Probably about five or six a month. I try to meet with them and try to find out what’s going on with their new programs, what’s coming into the marketplace, and it seems like lending is really, really loosening up. In fact, I saw two loan programs today that I think are pretty exciting.

For a long, long time when we talked about a jumbo loan or buying a luxury house, it was always considered that you had to do 20% down. Well, this week I saw a loan program that will do 5% down on a jumbo loan up to $3 million. That’s a really good deal. I haven’t seen that … I don’t even know when the last time I saw that … Probably before the crash back in 2006, but 5% down up to 3 million. Now, there’s going to be some strict qualifications around that. You’re going to have to have a killer credit score, you’re going to have to have a great debt to income ratio, you have to make a fair amount of money, and they’re going to ask you to document that from here to Topeka.

That’s one cool loan program that’s out there for jumbos. That is very, very cheap money. If you are wealthy and you are thinking about buying in cash, you might think again because that type of money that cheap with so little down might be a better way to go. On the flip side, if you’re just starting out and you are just getting into a home then you might want to look at this program where you only put 1% down of the purchase price. Not bad; 1% down. It used to be 5%. It used to be 10%. Now you can do it for 1% down and the lender will kick in 2%, for a total of 3%. That’s a great, great deal, and it’s a very competitive rate on a 30 year fixed loan.

If you want to know more information about these cool loan programs, make sure you contact us at, call us or email us.

I also wanted to start a new feature this week and tell you about the featured property of the week. So technology savvy whiteboard,, go to featured properties and look for 7200 Roxborough Park Road. Roxborough Park Road. Great, great, quintessential Colorado ranch. If you always wanted to live the Colorado dream, and you wanted some acreage, and some horses, or some cattle, it’s 50 acres. It is not too far outside of town. It’s got amazing views of the front range. The house is a terrific finished walkout ranch, all up to date, and he’s got a number of outbuildings from a loafing shed to a mechanical barn. It’s really, really cool. It’s right next to the new Sterling Ranch. So if you’re familiar to Colorado and you know where the big Sterling Ranch development is going into, 7200 Roxborough Park Road is right near there. Great location. Check it out on our website properties. All right, to your questions.


Dear Colorado Dream House Team: With today’s technology are people using real estate agents more or less?

Great question. In fact, all of the statistics from the National Association of Real Estate Agents show that people are using real estate agents at an even higher level. It’s almost between 83 and 86% of all transactions are being done with professional real estate agents. So with everything that we have at our disposal, all of that right now right here technology, whether it’s on our phones, or our tablets, or our desktops, even with all of that, real estate agents are more useful than ever.

Number two. Dear Colorado Dream House Team: How many real estate transactions these days are all cash?

Great question. It seems like there’s more and more, but really in effect, there’s not. It’s going to depend on your city and your state, but nationwide the National Association of Realtors tells us it’s about 25%, and it fluctuates between 23% and 27% are all cash. In Denver, it’s about 15%. So if you think, “Hey, I’m looking for a cash buyer because I don’t want to deal with an appraisal,” you’re going to eliminate about 85% of the buyers in the market.

Number three. Dear Colorado Dream House Team: Do flat fee brokerage firms sell a lot of homes?

Great question. We go up against flat fee brokerage firms all the time, and the reality is they don’t sell a lot of homes. It is like one-half of 1% of all of the homes in Denver are sold by a flat free … I can’t even say it … flat fee brokerage firm. Say that 10 times real fast. Listen, if you’re dealing with the most expensive and the most worthwhile asset that you own, why put it in the hands of a non-professional? Hire a professional and you’ll be so much better off for it.

All right, that’s today’s questions. Remember, you can ask us questions any time right here on Facebook. You can leave your comments here. You can email us at, or you can give us a call at the phone number right here; 720-446-6325. Thanks everybody. We’ll see you back here on Tuesday. Have a great week.