Home buyers rank proximity to daily conveniences as one of the most important factors in selecting a neighborhood, more important than schools and property taxes.  I think the spike in gas prices in 2008 also made many people pause and think about how much and how far they were driving.

I just learned of a new website, WalkScore.com, which rates the Walk Score of addresses based upon the proximity of services, parks and schools.  You can search an address and get a score.  The lower the score (on a scale of 0 to 100), the more car-dependent, the higher, the greater the walkability factor.  The most walkable neighborhoods in metropolitan Denver were determined to be: (1) LoDo, (2) Capital Hill, (3) the Golden Triangle and (4) Cherry Creek. The website also will list and map businesses and amenities and indicate their distance from the selected address. Check it out!

Finally, some good news in the home loan arena…

An article in the August 17 Denver Post describes an intriguing new avenue of help for homeowners having difficulty making their monthly house payments.

The Neighborhood Assistance Corporation of America (NACA) just opened an office in Denver in June.  Nonprofit NACA can negotiate with lenders on behalf of borrowers to restructure bad loans or offer alternative financing on very competitive terms.  Although FICO scores are checked, NACA considers a borrower’s character and such factors as the ability to stick to a budget and satisfy old debts.  Not everyone will qualify, and the procedure can take up to 3, 6 or even 9 months if there are other debts to satisfy.  However, foreclosure proceedings may be halted during the process.

NACA also offers loans for purchases on very competitive terms.  Want more information?  There will be an NACA workshop Saturday, August 23 from 9 a.m. to 1 p.m. at Faith Temple at 12400 Hoffman Blvd. in Aurora.

I am holding a Home Buying seminar on Thursday, March 27, 2008, at the Castlewood Library in Centennial (Arapahoe Road just west of I-25). I will be joined by Charlie Kirchhoff from America’s Mortgage and Art Rosenboom from Farmer’s Insurance. Some of the topics we will cover will include: the current housing market, different housing types, the home buying process and new contracts, different loan products (fixed v. variable), interest rates, what constitutes loan approval, closing costs, the CLUE insurance report, fire dept. ISO ratings that affect your insurance rates, and insurance coverage review. There will be a question and answer session and handouts available.

This class would be especially helpful to first-time buyers. However, with all of the changes in the housing market, financing and insurance requirements lately, there should be useful information for any home buyers.

Let me know if you know of anyone who might be interested in attending.

Please RSVP by Monday, March 24.

Thanks!

Greg Foster

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