HOUSING RESCUE BILL SIGNED BY PRESIDENT BUSH

Despite previous threats to veto the bill, which passed the House last week and the Senate on Saturday, President Bush today signed the bill and made it law.

The measure will allow troubled homeowners to refinance high interest mortgages with government-backed loans.  It strengthens Fannie Mae and Freddie Mac, and provides $3.9 million in neighborhood grants.  It is an attempt to stabilize struggling financial markets.

Affordable Weekend Fun

1st Annual Denver’s Art Day on Santa Fe

Art galleries on Santa Fe Drive between 7th and 9th Avenues will be open to the public from 1-10 pm this Friday, August 1st.  Several bands will play and food and drink will be available for sale. 

Art Day on Santa Fe 

and

This Saturday is the first Saturday of the month and therefore a free admission day at the Denver Art Museum.  Doors open at 10 a.m.  Explore modern art, pre-Columbian art, native American art and art from around the world.

and

While you’re in the neighborhood, visit the main branch of the Denver Public Library.  The library first opened in 1889 with 35,000 books.  Today it is home to over 5 million books.  See what some of your taxes are paying for.

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There’ll be family fun at the Governor’s mansion on Saturday from 11 a.m. to 2 p.m.  The residence is 100 years old this year and the Governor and Mrs. Ritter invite you to tour the building and learn some Colorado history.  Free to all.

HOUSING RESCUE BILL PASSES CONGRESS

President Bush says he’ll sign it!

Homeowners who cannot afford their current home mortgage payments will be able to refinance into more affordable government-backed loans. Buyers will have to qualify for the new loans, showing that they meet underwriting guidelines for the loans.   The bill is expected to help up to 400,000 struggling homeowners.   

Home foreclosures are at a record high, financial markets are nervous and the general economy is in a slump.  The bill is an attempt to slow foreclosures and decrease the impact of foreclosures on the sagging national economy.

Fannie Mae and Freddie Mac, who insure non-governmental loans, and are in financial difficulty, are also expected to get a boost from this bill. 

More information is available at http://www.msnbc.msn.com/id/25848449/.

If you are approaching the misfortune of foreclosure, please call your lender and explore the possibility of refinancing with an affordable government loan.  

FIRST TIME HOME BUYER TAX CREDIT

Measure passes in House and expected to pass in Senate 

The House of Representatives has passed legislation that, among other things, would give first time home buyers a $7500 tax credit if they purchase their home between April 9, 2008 and July 1, 2009. The bill contains other measures, including disallowing sellers to pay the downpayment for buyers on FHA loans.  The measure is expected to pass the Senate next week.  If you have a friend who’s been considering a first home purchase, be sure to let him/her know.  More information is available at:  http://www.rockymountainnews.com/news/2008/jul/23/house-oks-foreclosure-help/.  

Denver to Test a Hybrid Garbage Truck

Denver Public Works is about to test a hybrid trash truck, one of the first in the country.

The truck should provide improved gas mileage and reduced emissions.  The City and County of Denver already has 120 other hybrid vehicles, but this is the first hybrid garbage collection vehicle in Denver. 

Mayor John Hickenlooper is committed to reducing Denver’s carbon footprint and has enacted his Greenprint Denver program to further that goal.  Visit the Greenprint Denver website for energy saving tips, environmental news and links to green businesses. 

Affordable Fun Around Town This Week

Denver and Glendale Activities

Did you know that there are free concerts in downtown Denver at lunch hour?  From noon to 1:15 pm at Skyline Park (1825 Arapahoe Street) weekdays through August 29th, local acts are featured and include rock, jazz and ethnic music.

 

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This Sunday, July 27th City Park Jazz presents Lisa Bell and Crescendo at 6 pm.  Bring your picnic supper and drinks, chairs or blankets and raingear.  Free to all.

 

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The Second Annual Russian Festival will be held Saturday and Sunday, July 26th and 27th at Creek Side Park, 4400 East Virginia Avenue in Glendale.  The festival begins at 10 am both days, running until 12 midnight on Saturday and 6 pm on Sunday.  Admission is free.  Enjoy live music and dance.  Russian food, crafts and jewelry will be for sale.

Calling First Time Homebuyers

Great Time to Buy Your First Home

 

With fallen home prices and continued great interest rates ranging between 6 and 6.5%, now is the time to buy your first home.  Bargains are plentiful throughout the state.  And new FHA guidelines make financing easy.  Call me or another local Realtor® today to begin the process. 

Affordable Weekend Fun in Town

 

For some different fun

around town this weekend, check out:

 

The City Park neighborhood presents The City Park Festival of the Arts this Sunday, July 20, 2008 from noon to 7 pm. at Ferril Lake.  Three performance stages will offer music throughout the day.  Local artists will display their wares and hope you’ll buy something.

 

At 6 pm, “Cocktail Revolution”, this week’s City Park Jazz offering will play at Ferril Park.

 

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for some eastern European ethnic food, music and dance, try the 5th Annual Orthodox Food Festival and Old Globeville Days.  This event runs Saturday, July 19th from 11 am to 10 pm, and on Sunday from 11 am to 5 pm.  The Holy Transfiguration Church at 349 East 47th Avenue hosts this event.  

 

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If you’re looking for something that’ll please the kids, take them to the Aurora KidSpree at Bicentennial Park.  There will be more than 60 activities including musicians, jugglers, magicians, clowns, climbing walls and life-size board games.  Admission to KidSpree is free.

 

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Free day at the Botanic Gardens, Monday, July 21, 2008 from 9 am to 5 pm.  The water lillies are blooming.  The century plant is blooming.  A wonderful time of year to visit this peaceful inner-city treasure.

 

Selling a Vacant Property?

stage it to warm it up

 An occupied home appeals to more buyers than a vacant home.  

• Set the thermostat at a comfortable temperature.
• Place some furniture to make the house feel less sterile and more like a home.

• Hang towels and toilet paper in each bathroom.  Leave some extra toilet paper in the home.

• Add a vase or two of silk flowers.

• Be sure all light fixtures are working and leave extra light bulbs on the property.

• Make the exterior more inviting by putting a barrel of silk flowers at the front door.

• If you have a dining room table, set it for two or four.

• Provide a couple of chairs so the buyers and their agent can sit down and discuss the home.

• Make arrangements for lawn care and/or snow removal.

• Make arrangements for a neighbor to check on the property periodically, including picking up any promotional flyers left at the house.

Consider Caretakers of America.

debpallai@comcast.net

The Home Selling Timeline