Colorado is different than many states on how Colorado property values are assessed. The assessments are done on a two year cycle, so the value we receive in May 11 will be based on sales from 1/1/09 to 6/30/10, the current taxes we are paying are last years taxes based on 08 to 6/09 sales. Many areas in Colorado did not see substantial property declines until late 09 and 2010 so therefore there has likely not been much impact on the tax bill for this cycle. Here is a link to a Denver Post Article that discusses this topic more: Property values lagging behind economic slump, assessors say
http://www.denverpost.com/news/ci_17223038#ixzz1CMNmvlKF
Fairview Lending is a private Colorado Hard Money lender. We make Private loans both in Denver and throughout Colorado. For more information please see: www.cohardmoney.com or call 303..459..6061
There was an interesting article on Bloomberg regarding housing prices throughout the nation. Denver was on of two metro areas that had increasing prices. Below is an excerpt of the article with the link to the story:
Eighteen of 20 cities showed a decrease in prices in October, led by a 2.1 percent drop in Atlanta, and decreases of 1.8 percent in Chicago and Minneapolis. Denver and Washington were the only two that posted gains. Full article at: http://www.bloomberg.com/news/2010-12-28/u-s-property-values-decline-more-than-forecast-in-s-p-case-shiller-index.html
So what does this mean for Denver housing prices going forward. I personally feel that Denver residential housing prices are at or near the bottom of the market, many areas are still falling (castle rock, pueblo, highlands ranch, some of the front range communities, etc…). Long term we should begin to see a slow climb 1-2%/year going forward for the next 3-5 years.
Condo loans throughout Colorado
Currently there is a shortage of lenders able to loan on condos in Colorado. Fairview is different than other lenders. We strictly lend our own money and are not bound by traditional bank underwriting. We are able to lend up to 50% of the current value of a condo (first mortgage only) that is not a primary residence (second home, rental property, etc… qualify). We can lend in Denver and throughout the various ski resorts in Colorado (Vail, Breckenridge, Telluride, Crested Butte, Steamboat, Keystone, Aspen, etc…). There are no upfront fees. Fairview is a local direct lender. We have closed hundreds of condo loans throughout the state and look forward to closing your next Colorado condo loan. Please fill out our one page application at www.fairviewlending.com and/or call 303…459.6061 to discuss your particular loan scenario. More details can also we found on www.cohardmoney.com . When you call, you will talk directly to the lender and get an honest answer quickly.
Colorado Private Lender: Still closing loans
Many banks are no longer lending to borrowers without perfect properties, credit, income, etc… Even well qualified borrowers are having trouble getting loans from Banks in Denver and throughout Colorado. With all the doom and gloom in the economy, Fairview is still making hard money loans in Denver and throughout Colorado. Below are some of the recently closed Colorado hard money transactions:
Denver Hard Money/ Denver Private Money transactions:
- Lakewood, CO hard money non owner Single Family Home
- Denver, CO hard money small commercial building
- Cherry Creek, CO hard money non owner residential
Western Slope Hard Money/ Western Slope Private Money transactions:
- Montrose, CO Hard money non owner single family home
- Vail, CO hard money office condo
- Telluride, CO hard money non owner occupied Condo
What properties can Fairview make a hard money loan on in Colorado?
Non owner occupied single family homes and income producing commercial properties (office, retail, and light industrial properties). More information on our hard money lending guidelines in Colorado: http://www.cohardmoney.com/lending.php
How can I learn more about Colorado hard money lending & Denver Hard Money Lending?
Fairview has multiple websites with an abundance of information on Colorado hard money loans and Colorado hard money lenders: www.cohardmoney.com
What areas can Fairview make loans in Colorado?
Fairview is a local Denver Hard Money Lender and Colorado hard money lender. We have made hard money loans throughout the state including: Vail, Aspen, Basalt, Carbondale, Glenwood Springs, Montrose, Grand Junction, Pueblo, Colorado Spring, Fort Collins, Denver, Evergreen, Conifer, and everywhere in between. Since we are local Colorado hard money lenders, we understand the various markets / submarkets throughout Denver and the state of Colorado. Call us locally to discuss your next Colorado hard money transaction: 303..459…6061
www.fairviewlending.com : General information on hard money lenders; hard money questions, and hard money information
www.cohardmoney.com: Denver Colorado hard money lenders and information about hard money lending in both Denver and throughout Colorado
www.georgiahardmoney.com: Atlanta Georgia hard money lenders and information about hard money lending in the Atlanta metro area
Colorado Hard Money lending: Recent hard money closings
With all the doom and gloom in the economy, Fairview is still making hard money loans in Denver and throughout Colorado. Below are some of the recently closed Colorado hard money transactions:
Estes Park, CO hard money:
- Non-owner single family home owned free and clear
- Borrower’s credit impaired
- Borrower needed funds quickly for another transaction
Denver Hard Money:
- Non-owner single family home listed for sale
- Property had little debt on it
- Borrower in process of buying another property and needed cash
Vail Hard Money:
- Owner occupied office building
- Borrower not current with the bank
- Needed cash to pay off bank and take care of other expenses
What properties can Fairview make a hard money loan on?
Non owner occupied single family home and income producing commercial properties (office, retail, and light industrial properties)
How can I learn more about Colorado hard money lending?
Fairview has multiple websites with an abundance of information on Colorado hard money loans and Colorado hard money lenders:
What areas can Fairview make loans in?
Fairview is a local Denver Hard Money Lender and Colorado hard money lender. We have made hard money loans throughout the state including: Vail, Aspen, Basalt, Carbondale, Glenwood Springs, Montrose, Grand Junction, Pueblo, Colorado Spring, Fort Collins, Denver, Evergreen, Conifer, and everywhere in between. Since we are local Colorado hard money lenders, we understand the various markets / submarkets throughout Denver and the state of Colorado. Call us locally to discuss your next Colorado hard money transaction: 303..459…6061
www.fairviewlending.com : General information on hard money lenders; hard money questions, and hard money information
www.cohardmoney.com: Denver Colorado hard money lenders and information about hard money lending in both Denver and throughout Colorado
www.georgiahardmoney.com: Atlanta Georgia hard money lenders and information about hard money lending in the Atlanta metro area
Denver Hard Money Lenders
I am commonly asked how does a borrower go about selecting a Denver hard money lender? This can be a tricky task in today’s economy. There are many folks on the internet claiming to be a Denver hard money lender that are actually brokers or loan arrangers. The questions to ask are as follows:
1) Do you fund with your own capital? Fairview strictly lends its own money
2) Are you local? Fairview has an office in Denver and can be reached at 303.459.6061
3) Are there upfront fees? Fairview does not charge any upfront fees
4) Have there been complaints against the lender? Google the lenders name and see what comes up, look at various message boards, etc…
5) Does the lender actually fund loans? Talk with the lender and ask them about their recent fundings. It is also a good idea to physically meet the lender.
6) Can you talk with the decision makers? Fairview makes all decisions in house and performs its own property inspections. We live in Denver and understand Denver hard money and hard money transactions throughout Colorado
7) Does the deal sound too good to be true? Do you for example have a 580 credit and a lender offering you a 3% non-recourse loan?
Fairview Lending is a direct Denver hard money lender and Colorado hard money lender. There are no upfront fees or games. We strictly lend our own money and close loans quickly. More information can be found at www.cohardmoney.com, or for Georgia hard money: www.georgiahardmoney.com, or for more info on hard money lending: www.fairviewlending.com