Denver Real Estate Blog

THE 10 SECOND RULE

TEN SECOND RULE In real estate, every day presents itself with visiting property; sometimes alone-sometimes with clients.  As realtors were are made aware of the 10 Second Rule to survey our surroundings and ensure personal safety.  I thought this might be useful to everyone. Inattention is one of the main reasons people find themselves in danger. Use the 10-second rule each day to assess your surroundings and make sure that you’re taking the right precautions in case an emergency or an uncomfortable situation arises. Here’s how the 10-second rule works: Take two seconds when you arrive at your destination to ask yourself:   Is there any questionable activity in the area?   Am I parked in a well-lit, visible location?   Can I be blocked in the driveway by someone’s vehicle? Take two seconds after you step out of your car to ask yourself:   Are there suspicious people around?   Do I know exactly where I’m going? Take two seconds as you walk towards... [Read more...]

Colorado CO Alarm Law

A new state law in Colorado effective July 1, 2009 requires the seller of every residence to be responsible for having carbon monoxide (CO) detectors in the home prior to closing. The detector(s) must be installed in all homes with a fuel-fired heater ar appliance, a fireplace (both wood burning & gas log), or an attached garage.  Additionally, a CO detector must be installed within 15 feet of the entrance to each room lawfully used for sleeping.   The installation may be at ceiling height as well as pluged in above a baseboard.  All hardwired and plug-in detectors should have a battery backup. CO detectors are a great idea, but I’m sure more lives are saved by smoke alarms, that ironically are not required for a real estate sale. Check out Denver Real Estate here

PERSONAL REPRESENTATIVES-WHERE TO BEGIN?

Congratulations! You just found out you have been named as the personal representative of an estate!  So, now what?  Well first you need to understand how you got here.  You may have been selected personally by the decedent to carry out this responsibility; as such you may consider this an honor and a curse.  If the decedent died without a will (intestate), you were probably nominated by either family or friends; in this case just consider it a curse!  Your Authority  You will be issued “letters” from the court, which say that you have been appointed personal representative. These letters are evidence that you have authority to act on behalf of the estate. You will need to show or send them to various third parties, such as banks, insurance companies, etc., when you are administering the estate.  Opening and Closing of the Estate   Generally, you can choose how you will formally open and close the estate and the extent of court supervision over your activities as a... [Read more...]

Western Water Law or The Law Of I Got It First!

While real estate Title insurance policies will not insure water rights or water usage, the ownership of water rights is decided through the water courts. Nonetheless, a through overview and knowledge of how water is distributed in the west can eliminate potential problems on the part of a potential land buyer. A HISTORY OF WATER RIGHTS Originally in the United States, the English doctrine of water law was applied. English water law held that an owner of riparian land had the right to the natural flow of water past, over, across, or under his land for domestic use.( Riparian means belonging to or relating to a watercourse, which is defined as a natural stream having a definite bed or banks, that flows on a regular basis) PRIOR APPROPRIATION The prior appropriation doctrine, or “first in time – first in right”, developed in the western United States in response to the scarcity of water in the region. The doctrine evolved during the California gold rush when miners... [Read more...]

2009 Housing Stimulus Package Complete

The American Recovery and Reinvestment Act of 2009 is expected to be signed by President Obama, in Denver, on Tuesday 2/17.  According to the National Assn. of Realtors (NAR), the home buyer tax provisions could stimulate up to 300,000 additional sales by December 1, 2009 when the provisions expire.  While the new tax credit falls short compared to other sponsored proposals, it is a maor improvement over the current first time buyer tax credit of $7,500 which required repayment.  The new credit effective 1/1/09 allows a credit of up to $8,000 and is not required to be repaid as long as the borrower owns the home for at least 3 years.  The Bill also reinstates the 2008 higher loan limits for FHA, Fannie Mae, and Freddie Mac loans. First time home buyers make up a whopping 41% of all home purchasers.                                                                      check out Denver Real Estate here.

Denver Real Estate Blog