Thank God for GOOD CREDIT Loans!

Yes indeed - "Thank God" for those buyers who have good credit so they can keep our real estate market plugging along this summer selling season!

You see, without good credit now (typically a 600+ mid-fico score to qualify for a FHA 30-Year fixed rate) our Littleton & Highlands Ranch real estate market would not be doing very well at all...nor would the rest of the Denver real estate market - or the whole national real estate market for that matter! Statistics show that around 24%-27% of all potential homebuyers in Denver now (and nationally) have lower credit scores and CANNOT qualify to buy a home with the stricter mortgage lending regulations now in place since last fall. Here's why...

What that means is that 24%-27% of the existing Littleton, Highlands Ranch and metro Denver real estate CANNOT be bought now...causing a continuance in the real estate selling problems plaguing the USA now. Yes - that means that about one in four homes for sale will NEVER sell during the 4-9 month listing period - because 1/4 of all potential buyers CANNOT qualify for a mortgage loan now. This is not "doom & gloom" - it's just stating a stastistical fact. To take advantage of this problem, most Sellers ABSOLUTELY need to make sure that their home is in 'fine' selling condition - and priced accordingly!

Selling condition means: 1) Clean and in "model home" showing condition, 2) freshly painted walls in NEUTRAL colors!, 3) remodeled and updated kitchens, bathrooms, new or newer carpet and NOT looking like anything that has "Brady Bunch" era decor, 4) Nicely landscaped exterior & yard - with flower pots on the entry or porch areas, 5) NO CLUTTER and no old wallpaper/old messes/pet odors! Sellers absolutely need to spend more time and MONEY to get your home sold this summer!

Buyers DO NOT want to make you a full price offer if they have to fix-up or remodel your dang house! Worse yet, they will probably find a nicer home in your subdivision that DOESN'T need new carpet, paint and major remodeling - because THOSE other Sellers were given advice that having a nearly perfect house will actually help them sell their house FASTER and for MORE MONEY!!! Buyers are now required to put 3-10% Down Payment to qualify for almost every single mortgage loan offered currently (...there are NO MORE $0 Down loans folks!) which means they will NOT have extra money to do your remodeling, painting and carpet that your home needs!!! REALTOR TIP: You spend the money upfront for all this fix-up stuff and your home will sell faster.

If you'll make your home look pleasant for incoming buyers at your showings, you'll increase your 'probability' of getting a good or reasonably good purchase price offer! Pretty simple - huh?

Unfortunately, I showed homes last weekend in the Littleton area at $250,000 to $280,000 - and 6 out of 10 homes looked terrible when the Buyers walked inside of them! No one wants to buy your crappy looking house - and my Buyers didn't want to spend the time or money to remodel your "mess"!

Read my next blog on: "The Top 3 Reasons Your House WON'T Sell This Summer - and The Top 5 Reasons Why Buyers Will NOT Buy Your House."