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Place your blog article here. As a CAHREP member you have value to share with other members as well as the public - use it!  The opinions expressed by the Bloggers and those providing comments are theirs alone, and do not reflect the opinions of the CAHREP. CAHREP is not responsible for the accuracy of any of the information supplied by the Bloggers.

  • 26 Apr 2012 12:24 PM | Anonymous

    The Absorption rate for Denver Metro area over current 3 months was 2.9 whereas, in prior months it was 5.3 which indicates that we are now in a Seller’s Market for the upcoming season.

     

    Absorption Rate is used to determine how many months it will take to existing inventory of homes to sell. If it takes 0-5 months to sell, it is a Seller’s Market, 5-6 months is a Balanced Market, 6+ months is a Buyer’s Market.

    Active Listings: 8,303  * Down 39% from March '11

    Under Contract: 4,328  * Up 50% from March '11

    Sold: 2,775  * Up 10% from March '11

    Average Days on Market : 105  * Down 10% from March '11

    Average Price: $284,035  * Up 4% from March '11

     

    >read complete article<

     

    Many would-be home buyers waited for years for signs of a stabilizing economy before jumping back into the housing market. The green shoots of progress have been growing steadily for the past year which has resulted in buyers jumping back into the housing market and creating our super red-hot housing market. Take a look at the bold figures in our Quick Stats. The number of homes under contract is up 50% in the past year!
     
    So, if you’ve been waiting on the sidelines for the past few years wondering when it will be a good time to buy again, you might want to start thinking about it. Our economy is improving, inventory of homes is at record low, interest rates are still low (but rising), and home prices have begun rising again. Give me a call and I’d be happy to share all this data with you.
  • 16 Dec 2011 1:35 PM | Frederick Huber (Administrator)

    The topic for the December monthly breakfast meeting was The State of Foreclosures in Colorado.  After the Pledge of Allegiance, meeting attendees had the opportunity to briefly introduce themselves.  Then Rogelio Rodriguez, CAHREP President, spoke for a few moments.  Next, John Lucero spoke on some Real Estate related issues including FHA loan limits that are in the news recently.  Greg Adame, CAHREP Board Member, spoke on the recent participation by CAHREP on the Thanksgiving activity where meals were distributed to seniors at three different centers.  Greg also mentioned the upcoming Sam Sandos Christmas basket event.  Next was some brief marketing session of buyers/sellers needs.

    Our breakfast topic, The State of Foreclosures in Colorado was next on the agenda with Deborah Johnson, Clerk & Recorder for The City and County of Denver, Shannon Peer with The Colorado Foreclosure Hotline, and Ryan McMaken with the Colorado Division of Housing speaking.  They all spoke on the topic of foreclosures and how Colorado has compared to the rest of the country.


  • 25 Oct 2011 1:52 PM | Rogelio Rodriguez
    This last September I attended the National Association of Hispanic Real Estate Professionals (NAHREP) Annual Marketing Conference at LA Live in 
    Los Angelese, California titled "Putting the Dream Back In Homeownership!". As President of the local affiliate chapter CAHREP and real estate practitioner it is with both a sense of obligation and a great pleasure that I participated in this event.

    I did feel like a small blog about my experience was in order for a few 
    reasons. One, to report to my members who were not able to attend and maybe encourage participation next year. Two, to inform anyone interested
    in the great things that Latino professional organizations like NAHREP are doing, especially in these difficult economic times and how our  community is in the forefront of both the struggle and a huge part of driving force behind the economic recovery. Finally, there is a benefit from reflecting on the experiences and refresh in my mind the information, the message and most importantly the people that I spent time with. 

    We all know the vital role housing has played in the financial health of economies, within families and in the macroeconomic vitality of the nation. 
    From beginning to end, from my fellow members and presidents to the corporate executives of the Bank of the Americas and Wells Fargos of the world, 
    there is pretty much a call to action to outreach to the Latino population to educate, assist and serve in all maters of housing and financing needs. All parts of the conference from the speeches, the break out sessions, workshops and side meetings served to meet that beacon.

    Our welcome reception at Club Nokia got the groove going with a huge ice breaker and words from John D. Trasviña, Assistant Secretary for HUD and the NAHREP leadership.  
    The general sessions were the large gathering opportunities with VIP panelists and presenters. Consuelo Castillo-Kickbusch provided a “keep it real” spirited message at the welcome session Monday morning. Workshops, seminars for professional development followed, including luncheons and receptions. 

    As far as workshops, I attended: New Advances in Short Sales, Lending to Latino Homebuyers in Today’s Market, Code of Trust, Breaking into the Commercial Real Estate Arena, and finally…Building Wealth and Financial Planning for Small Business.
    I would say I enjoyed the Short Sales and the Commercial RE workshop the most. One of the problems with conferences in general is retaining all the information provided. This time I tried to take photos of the slide presentations whenever it was possible.

    One of the most enjoyable parts is just hanging out with my fellow NAHREP members and meeting important leaders in the industry. One guy I was happy to see is Julian Hardaker, a new CAHREP member who I‘ve done business from my days as a mortgage broker with Clarion. I really think he enjoyed it . At the Wells Fargo reception down at the Palms Restaurant I had a great time enjoying the fine food and chatting with Eugenio Alemán, Senior Economist for Wells Fargo and a native of Argentina. I introduced him to Paula Franco, the NAHREP President at the Utah Chapter and they hit it off. I hope to bring him to Denver soon! Also spent a good time with the gang from Dallas like Joann, Guillermo, Carlos and Daisy and her husband from Florida. From there it was the Conga Room for Chase’s VIP reception. George Artero, President from Seattle made sure we all had a great time. All I have to say is that there is a video I made with the fun activity they had prepared for us - look for it. I believe that night we ended up going to the official after hours reception at The Vault where the organizers had live music and a great atmosphere prepared for us. I danced some norteño besides my usual salsa/merengue. This is pretty much how it goes, attend, watch, observe and learn during the day and get to have fun and mingle at night.

    I would say one special highlight was having basketball legend Kareem Abdul-Jabbar speak at the Gala Dinner. He talked about his DVD On the Shoulders of Giants and also took open floor questions from the audience. That guy is TALL. Besides enjoying that experience, I did sit with one of the most fun group at my table. I can probably go on for a good while but I can just sum it up as a great get-away moment where as an organization we can focus on what we do for a living and have fun doing it. It really energizes you and makes you wonder what you should be doing personally, professionally and with your local NAHREP community- CAHREP in my case. I encourage anyone to look for videos, photos, articles, agendas etc from the conference and dig further. You may very well be a part of it next year.

  • 18 Oct 2011 1:14 PM | Greg Adame
    FiveWaysMarket

    Taking a look at the real estate market over the past several decades, a cycle is emerging. Usually there is a steady increase in prices, the prices then peak; that is then followed by a relatively sharp decline which the results in a flattening of the market. The last time the market hit a peak was in 2006. Since then, prices in many areas have declined with a surplus of homes for sale.

    If we take a page from the history books, it is likely that the next step is for the market to hit bottom. At some point, the market will begin the steady climb we have seen so many times before; but the question is when will that happen? Is it happening now?

    You may be surprised to know that some economists believe that the market actually gives us subtle signals as to what it may do and where it may be going. We just need to look a little more closely at the ways in which the market is communicating those trends.

    The following five factors may indicate that the market may be approaching its final descent. For sellers, that could mean that your patience may soon pay off. For buyers – this may be your best time to buy.

    Fewer new homes are being built – In a September 15, 2011 white paper for the global investment management firm, GMO, titled “Between Errors of Optimism and Pessimism – Observations on the Real Estate Cycle in the United States and China,” financial commentator and consultant Edward Chancellor said that “at the bottom of the cycle, new construction comes to a virtual standstill”, which, according to federal statistics is now happening.

    When fewer existing homes are selling, most home developers slow down or cease building new homes. To achieve a balance between supply and demand takes time before the market can turn around – which seems to be happening. In its September 20th report on new residential construction, the U.S. Census Bureau and Department of Housing and Urban Development reported privately-owned housing starts hit a three month low in August and were down 5% from the month before, down 5.8% from August 2010, and more than 25% from September 2006 when new housing construction may have hit its peak. At the same time, The National Association of REALTORS reported existing home sales hit a five-month high in August and rose 7.7% from July 2011 and 18.6% from August 2010. That may be a sign of demand catching up with supply.

    A growing demand for housing – It’s a simple fact of life – people need somewhere to live. Buyers may be wary of the process right now, but there is an entire section of the population who will undoubtedly consider buying in the near future. In an Inman News article released October 4, 2011 entitled “5 Signs a Real Estate Recovery is Near,” David Stevens, President and CEO of the Mortgage Bankers Association, reminds us that Generation Y (people born between 1977 and 1994) is estimated to include approximately 80 million people, or 25 percent of the U.S. population and those consumers “are now entering their prime time for starting their careers, their families, and for buying a home.”

    Keep in mind that the U.S. Census Bureau predicts the country’s population to reach 423 million by 2050. That’s an increase of 112 million people in just 40 years. Those people will need housing and there will be an inevitable demand for homes to purchase. It stands to reason that this population growth will lead to fewer homes available for sale and prices will rise.

    Rents are rising – Because more people are choosing to rent instead of buy in the present market, the cost of renting is rising. An article in USA Today titled “Rising rents make housing less affordable,” Zillow economist Stan Humphries noted that rents are expected to rise about 4% this year and that increase will continue in 2012. He attributes the price increases to the strong demand created by homeowners who have lost their homes to foreclosure.

    High rental prices can be a good thing for the health of the over-all real estate market. The closer the average cost of renting comes to the average cost of owning, the more attractive it is to buy. In his GMO paper, Chancellor said; “Whilst people remain cautious of homeownership, the first effect of rising demographic demand is felt in the rental markets as rents start to rise. In time, rising rents push up the prices of existing homes and spur new construction.”

    Homes may be more affordable – Let’s face it, we’re seeing prices that we may never see again. The National Association of Realtors’ most recent Home Affordability Index finds the national median priced existing single-family home was $168,400 in August 2011, and the average interest rate was 4.69%. That’s compared to a median of $221,900 and a 6.58% average interest rate in 2006. Low housing prices are a key in sparking renewed interest in owning real estate and can be the launching pad for a recovery.

    It can’t get much worse – Pessimism appears to be at an all-time high, and it seems just about the time experts believe things couldn’t get any worse – they start getting better.

    In his GMO paper, Chancellor says “In the good times, a house is seen as a highly levered asset that only goes up. In the downturn, the same property is viewed as illiquid, expensive to maintain, and heavily taxed.” Maybe we should start thinking of bad news as good news – a sign that a turnaround may be right around the corner and that now may truly be the best time to buy.

    So, as these signs point to the market approaching its trough, what does that mean for you? The prices you’re seeing now may be the lowest for many years to come. You may not want to make the mistake of waiting until we’re in another boom to make your move. If you’re thinking about buying or selling and would like to explore your options, please give me a call. I’d be happy to help.

  • 04 Oct 2011 1:41 AM | Frederick Huber (Administrator)
    The September Breakfast meeting was scheduled to have the newly elected Mayor of Denver, Michael Hancock, along with several key members of his staff address the group.  Rogelio Rodriguez, CAHREP President, opened the meeting speaking on NAHREP, the National Organization, and showing a quick video concerning NAHREP and the National Conference.

    The meeting quickly moved to our guest speakers.  Diane Barrett, Chief Projects Officer spoke first, speaking primarily about the West Corridor Working Group which is working towards the implementation and development of the West Corridor light rail line.  She spoke on how different agencies have been working together on this.  Next, LaCharles Keesee, the Executive Director of The Office of Economic Development informed us as to how his office is working towards advancing economic prosperity for The City of Denver.  Lesley Thomas, Deputy Manger of Public Works and City Engineer spoke briefly on the Better Denver Bond Program.

    The newly elected Mayor of Denver, Michael Hancock, was our keynote speaker for the meeting.  Unfortunately, he was called away due to a pressing matter, but he did address the attendees briefly.  He mentioned that he was excited about working together with our organization as well as expressed an interest in receiving our input in Real Estate related matters.  He expressed his interest in serving with us, not for us, for the ultimate benefit of our children and grandchildren.  He mentioned returning to another CAHREP meeting to address the group again.

    The last speaker was Ted Leighty, Manager Public Policy for The Colorado Association of Realtors, who spoke on the legislation that CAR has been able to accomplish as well as the National Flood Insurance Program that was set to expire.  This concluded the meeting.


  • 03 Sep 2011 3:24 PM | Frederick Huber (Administrator)
    CAHREP President Rogelio Rodriguez started the meeting by welcoming new attendees and encouraging everyone to subscribe to the monthly newsletter.  He briefly recapped last month’s meeting and mentioned all of the great CAHREP events coming up.  These events include the

    Business After Hours at 3 Margaritas as well as next month’s breakfast meeting which will feature a special guest speaker, Denver’s newly elected Mayor Michael Hancock.  He then briefly spoke on the upcoming “National” NAHREP conference coming up in LA.  The microphone was then passed around for everyone to introduce themselves.

    The microphone was passed to Beau LaPoint who introduced our Guest Speaker, Bank of America’s VP of REO/Short Sales, Allen Seelenbinder.  Allen started out by mentioning that NAHREP members, often, were not only professionals in their trade, but leaders in their community as well.  Allen started out by saying that nationally 45% of homeowners were considered distressed.  However, Colorado is statistically better than most states nationwide.  In fact, foreclosure filings in Colorado for the first 6 months of 2011 were 20% less than those same months in 2010.  Colorado is far below the national average for underwater mortgages.

    Next, our panel for the meeting came up.  The panelist included our guest speaker, Allen Seelenbinder, as well as short sale and REO specialists Jorge Chavez and Lisa Blake.  They answered questions on their areas of expertise and the meeting was concluded thereafter. Thanks to all meeting attendees.  For the guests, you will find a link to join CAHREP at www.cahrep.org.  We look forward to having you become a member and joining us at future monthly member meetings and mixers to build your network and your business!




  • 11 Aug 2011 7:27 PM | Frederick Huber (Administrator)
        

    In Today’s housing market, many potential homebuyers are still on the sidelines, not ready to buy a home for one reason or another.  A great number of these people cannot qualify for a home loan because of credit issues, income instability, or a lack of down payment funds.  Others choose to stay on the sidelines because of fears surrounding the economic recession or misinformation regarding the housing and mortgage market. 

     

    Realtors and other industry professionals encounter these types of situations every day, but often do not have a good resource that they can refer them to, often fearful that they will simply fall through the cracks since their situation is not immediately approvable. 

     

    For this reason, Unifirst Mortgage has launched a program called “Path2Buy” that is designed to help these clients overcome their obstacles and reservations.  They provide free, one-on-one counseling to determine the barriers to homeownership and develop a plan to overcome them.  The Path2Buy clients can measure their success on a progress meter, and regular follow-up is always scheduled to provide the necessary support and motivation to accomplish each step towards homeownership.  The referring entity can also request to be provided with regular updates of their client’s progress.   

     

    This program is not a “quick fix,” but Unifirst’s Path2Buy counselors provide the direction, tools, information, and resources that are needed on a case by case basis. 

     

    Many times, a client only needs to manage their credit card balances or establish a new line of credit to be approved for a home loan.  The Path2Buy counselor can identify where improvements can be made and direct the client to the appropriate resources.  Unifrst’s interface with the credit bureaus and relationships with local credit unions can be utilized in these types of cases.  If more in-depth credit management is required, clients are referred to credit counselors through Unifirst’s partnerships with local non-profit housing agencies. 

     

    These partnerships are also utilized to secure down payment assistance money should that be a barrier to homeownership.  If down payment is the obstacle, Unifirst can connect the client with a down payment assistance program through, CHFA, CHAC, NEWSED, or one of the many other local non-profits and housing authorities that provide these resources.  If income or debt ratio is the problem, they will work with the client to build a budget plan to bring about the financial stability needed to move forward. 

     

    Getting ready and qualified to buy a house is a process that may require some work, but the Path2Buy program is now available to guide future homeowners through the process.

     

    To learn more about this program, contact Jay Rabideau or Yvonne Ojeda at 303-572-2850 or jay@unifirstmortgage.com or yvonne@unifirstmortgage.com

     


  • 01 Aug 2011 12:24 AM | Frederick Huber (Administrator)

    The monthly CAHREP meeting for July featured Natalie Mullis, Chief Economist for Colorado Legislative Council Staff.  CAHREP president Rogelio Rodriguez started the meeting out with a brief introduction and the Pledge of Allegiance.  The microphone was then passed around for a brief introduction of meeting attendees. 

    Rogelio then spoke for a moment on the upcoming National NAHREP Conference as well as the NAHREP report State of Home Ownership,

    Next, the meeting moved to a brief marketing session where members were able to market any current listing and buyer’s needs or wants.

    Finally, we moved to our featured speaker, Natalie Mullis, The Chief Economist for Legislative Council Staff for Colorado.  Recovery is here!  At least, that is what some of the data suggests.  She spoke on the current economic trends in the State of Colorado in regards to employment, consumer spending, financing, housing, as well as agriculture and other areas.  While many of the indicators such as employment and consumer spending are improving, challenges such as the financial sector, the housing market and global issues lie ahead.

    Thanks to all meeting attendees.  For the guests, you will find a link to join CAHREP at www.cahrep.org.  We look forward to having you become a member and joining us at future monthly member meetings and mixers to build your network and your business!

     


  • 08 Jun 2011 2:38 PM | Frederick Huber (Administrator)
    The monthly CAHREP Breakfast meeting for June featured a Top Buyers’ Agent panel.  The meeting started out with CAHREP President Rogelio Rodriguez speaking on the different online avenues that we use to promote CAHREP including facebook, Linked-in, and Meet-Up.

    Next, Beau LaPoint took over the meeting and passed the microphone around for everyone to introduce themselves.  This was followed by a quick marketing session where anyone that was interested was able to plug their listings as well as any buyer’s needs.

    Finally, our Top Buyer’s Agent panel took over which included Moises Nalvarte from Re/Max, R Perry Coons from Innovative Real Estate, and Jeff Harris from Cherry Creek Properties.  They agreed that marketing and follow up is the key to keeping your business going.

    R Perry Coons noted that he is in front of at least 2-3 people per week in his sphere of influence to keep his business going.  They stressed the importance of time management as a key element to success in your business.  In responses to the question of how to handle the negativity that we receive from buyers and sellers as well as the media they said to simply look at the positives and reminded us of the fact that Denver is a very stable Real Estate market compared to the rest of the country.  Lastly, they advised agents to have their buyers fill out a wish list and to rank it in terms of importance as well as to establish which form of communication (e-mail, phone, text, etc) works best for that client.

    Thanks to all meeting attendees.  For the guests, you will find a link to join CAHREP at www.cahrep.org.  We look forward to having you become a member and joining us at future monthly member meetings and mixers to build your network and your business!


  • 03 May 2011 2:38 PM | Rogelio Rodriguez

    Have you visited CAHREP's Facebook Page?


    Go to http://www.facebook.com/pages/Colorado-Association-of-Hispanic-Real-Estate-Professionals/220792300373?ref=ts#!/pages/Colorado-Association-of-Hispanic-Real-Estate-Professionals/220792300373.


    As of May 3, 2011 we have 324 "likes". There are many non-real estate professionals and members of the local community that could be a prospect or business partner.Let's get that number up higher! Make sure you "like" the page and you suggest our page to your FB friends that find the page of interest. 


    We are adding a member benefit feature of highlighting individual one member profile every week. Make sure you have your photo, correct company information, other contact info and a small blurb about yourself or your services; this way you will be more likely to be featured.


    This is how to login:

    Go to www.cahrep.org and click on "Membership"


    On the Membership page, click on "forgot password" and using your email address

    to create your password. You will receive an email instructions on creating your password to go back and login.


    Any questions on your membership? Confirm payments with Tracy Enslow, CAHREP Treasurer at tracye6886@yahoo.com and membership status with David Hays atallpointshomeinspect@yahoo.com. Reply if you need an invoice prepared for you. Non-profits, small business and corporate memberships should have an administrator assigned and they would be able to add their members.

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