From The Desk of Chris Mygatt - December 2007

New Coldwell Banker Education Center November 2007 Real Estate Stats 2007 Top Agents and Teams November 2007 More Than 3,000 Turn Out for Holiday Photos "Power of the Presentation" 2007 AWARDS CELEBRATION Integrity Selling 2008 CBC NOVEMBER REAL ESTATE STATS and Market News Positive Angles

NOVEMBER Market News

Leveraging the Current Mortgage Market

We are experiencing a return to the more traditional lending standards that were in effect before the housing boomlending standards that support a stable economic environment for both homebuyers and the nation at large.

Nationwide, the number of sub-prime loans is a relatively small percentage of total loans, about 13-14 percent, according to the Mortgage Bankers Association (MBA).
Nationwide, the percentage of foreclosures among all mortgage loans is 0.65 percent, according to the latest survey from the MBA, which represents less than 300,000 loans out of more than six million. Among sub-prime loans the number of foreclosures varies from state to state, but is currently averaging around five percent.

Broker associates can help customers with the mortgage pre-qualification process through an introduction to affiliated mortgage advisors. We must be proactive in working with clients to guide them through a positive funding experience, with sellers evaluating their offers and with buyers on their financing needs.

The high-end luxury market is continuing to see high activity and appears to be relatively unaffected by market conditions. Mortgage products for first-time buyers include FHA, VA and some state-sponsored programs.

It's important that our broker associates utilize our affiliated mortgage company for which sub-prime mortgage products have historically been a de minimis component of its business. CB Home Loans offers a wide variety of mortgage products, and by helping your clients with their financing needs, you create additional value that is unsurpassed in the real estate business.

Economic News & Notes

Metro Denver employment saw a slight seasonal gain between August and September. Job growth continues to be strongest in the Professional and Business Services and Education & Health and Leisure and Hospitality. Construction, manufacturing, transportation, warehousing and utilities all reported job declines.
Metro Denver foreclosure filings declined to 1,894 in September, still up 40 percent over the same period last year. The number of U.S. homes in foreclosure more than doubled in Q3. Colorado now ranks sixth.
Nearly four million passengers passed through DIA in September, a record for the month and a 5.1 percent increase over the same period last year.
The first Union Station redevelopment project has broken ground. A $125 million office tower at 16th and Delgany is the first phase of a 690,000 square foot development that will include office, retail and residential space.
Centura Health has purchased 50 acres in Castle Rock for future development of a full-service hospital.
Balfour Senior Living has broken ground on the Residences at Balfour, a $27 million, 144,000 square foot independent living community in Louisville.
Children's Hospital plans to build a $30 million "mini-hospital" in Broomfield to include urgent care and specialists. Up to 150 could be employed, including 50 doctors.
New audience measurements from Scarborough Research confirm that Metro Denver weekly newspaper readership has remained stable at 1.3 million adults over the last three September annual reports. The combination of the newspaper's print and online audience has also reached an all-time high. Coldwell Banker Residential Brokerage is leveraging this readership with our comprehensive public relations program.