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Nancy Sammons
Colorado Dream Properties
12900 Stroh Ranch Place, Suite 125
Parker, CO 80134
Phone: (303)956-5292
Email: nsammons5292@gmail.com
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Timbers Market Report

April 2019

Timbers Stats for the last 30 days:

The Timbers is reporting a buyers market. 

  • There are 18 active homes for sale ranging from $1,695,000 to $760,000 
  • There are 11 Under Contract homes 
  • 3 home sold in the last 30 days 
  • Average Home price sold in the last 30 days- $900,000
  • Average Days on Market - 125
  • Current Months of Inventory is 18 months

The Timbers is in a Buyers market as the last 30 days we have 18 months of inventory. Days on market is 125 up from 71 last quarter. The average price of homes has dropped from $1,053,510 to $947,500. 

´╗┐Based on information from REcolorado, Inc. for the period 12/10/2018-3/12/2019

Not all properties were listed and/or sold by Colorado Dream Properties. This representation is based in whole or in part on content supplied by REcolorado, Inc. does not guarantee nor is it in anyway responsible for tis accuracy. Content may not reflect all real estate market activity 

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Land Contract

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on fulfillment of the land contract obligations.

A land contract can be helpful for those who need time to establish or improve their credit rating. There are only small closing costs, and payment can help establish a good mortgage payment record. This can help establish an overall good credit rating, and it is possible for the buyer to later refinance the land contract with a conforming loan.

On the other hand, there are risks associated with land contracts. Land contract purchases are not necessarily recorded in the public record, and there are no guarantees that the seller will be able to transfer a clear title to the buyer upon fulfillment of the land contract. There also is no lender assuring that the purchase price for the property is justified, and no inspection of the property’s condition.

Another alternative to a non-conforming loan is assuming the seller’s mortgage. By assuming a mortgage, if the mortgage is assumable, it is possible to save on closing costs, and may allow you to obtain a favorable interest rate.

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