The new “Know Before You Owe” or TILA RESPA Integrated Disclosure (TRID) rule from the Consumer Financial Protection Bureau (CFPB) starts October 3, 2015. The rule not only requires new mortgage disclosure forms, it also changes the way real estate transactions are processed and closed. By understanding what is expected from you, you can help speed the process.
Never before in our history have we had this great of a demand for real estate in the Denver marketplace with this little inventory. So what does that mean to a Buyer?
It means it is extremely difficult to find and ultimately purchase a home priced less than $400,000 that in the Metro Denver area. So I'd like to share some tips on finding that perfect listing before everyone else
- Look around the area your interested in to find out who are the top listing Realtors. Then, interview them, as the top listing Realtors almost always have an advantage in these types of marketplaces. They are going to have the inside knowledge of what's coming up.
- Do not use Zillow.com to find a property. It is in my opinion one the most unreliable site available. In fact, they've done such a poor job managing our listing data that our local Metrolist has cut off the live feed for my MLS. Instead you want to go to www.recolorado.com, or use the Property Search listing tools right on my website here. You should also have your Realtor sign you up for a VIP Property Notification. This way you are notified instantly at any new listings that match your requirements.
- Give me call! I'd be happy to help guide you to the top listing Realtors in your area. As a matter of fact, our Buyer Specialist could set you up for that VIP Notification within a few minutes.
So if you're in the home shopping market good luck and remain patient… it won't be like this forever.
I am beginning a new video blog that will talk about good, relevant information in regards to the real estate industry. My experience and knowledge of the marketplace will give you insight to what’s really going on, as well as hot topics and latest news that home buyers and sellers will want to learn about.
Some topics to be covered in some upcoming videos will include:
- The record setting low inventory and what this means to home buyers and sellers
- Zillow and Trulia being cut off from local Denver listing feeds and why
- What it means to be an honest and ethical advocate for our clients, and the benefits to you
Plus, we are running a contest!
If you send to us your real estate question, and we answer it in one of our next videos, you will win a gift card! What do you want to know about? Send us your suggestion today. Good luck!
Thanks for joining us. Until next time.