DMAR Digest | Week of May 3
RentSpree: Fast, free & secure electronic tenant screening
Working with rentals can lead to consistent revenue, and the right technology can streamline the process and help you obtain better tenants. The Denver Metro Association of REALTORS® is proud to bring you a tool that automates your rental transactions, all at NO COST to you! RentSpree collects a completed screening package from every applicant. This includes a:
- completed rental application
- credit report
- background check
- eviction report
You can even upload lease agreements and addenda and send them for electronic signature, at no extra cost!
Applicants pay a $30 screening fee to apply and results are returned to you in seconds. You can even start screening your first applicant on RentSpree in less than 2 minutes.
Quote of the week
"Find the smartest people you can and surround yourself with them."
Marissa Meyer, American businesswoman, CEO of Yahoo
Democratic lawmakers introduced new legislation today to help first-time homebuyers grappling with soaring house prices with a tax credit of up to $15,000 as part of President Joe Biden’s bold housing agenda. Read More
The seller’s market is only getting stronger in 2021 as home prices continue to rise and inventories hit record lows across the country. While mortgage rates have inched up slightly, they remain low, enticing buyers to continue their house hunt. There are several ways brokers and agents can help buyer clients navigate the current seller’s market. Read More
No doubt Denver is experiencing a housing frenzy. The question is: Will the boom bust? What they’re saying: "I don’t think there’s any chance of a bubble here. … We have people with a lot of equity," said real estate broker John Danyliw, who has worked in the local market for 50 years. "We’re going to be in this marketplace for quite a while. And hopefully we will not become California," he tells Axios. Read More
Outrageously high lumber prices have for months been keeping builders awake at night, and it’s going to get worse before it gets better. Per the National Association of Home Builders, lumber prices have tripled over the past 12 months and have caused the price of an average new single-family home to increase by $35,872 — up from the NAHB’s calculated $24,000 extra HousingWire reported back in February. Read More
A plan to replace a defunct preschool building — and an apparently vacant house — with 12 new townhome units and two single-family homes in the historic Pickletown area of west Centennial was approved 6-3 by city council, despite opposition from some area residents who feared more traffic, noise and changes to the aesthetics of the neighborhood. Read More
Flaherty said public opinion has shifted rapidly. Higher housing costs amid the coronavirus pandemic have opened many Coloradans up to policy-based solutions led by the state and local governments, even if they’re not sure what they’ll look like. Read More
Following an incredible year for refinances that mostly benefited wealthier borrowers, the Federal House Finance Agency announced it is implementing a new refi product that targets low-income borrowers with single-family mortgages backed by Fannie Mae and Freddie Mac. According to the regulatory agency, this new product will assist borrowers who were less likely to take advantage of 2020’s historically low rates. Read More
Resources and services
DMAR staff is working remotely and still available to assist you by phone or email. If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email firstname.lastname@example.org.
How can we work to ensure that homeownership is not only available but attainable? There are solutions. Join us for a special discussion on race, real estate and the contemporary effect of redlining on neighborhoods and residential property values. Our guest speakers - Katie McKenna, Denver Market Director at Enterprise Community Partners and Jamar Hardy, a founder of Just Deeds and real estate broker at Edina Realty - will discuss how real estate practices, federal loan programs and even local ordinances combined to reinforce the process known of redlining, which may have been outlawed decades ago, but its effects are still very much evident to this day. This is your opportunity to learn how you and your business can grow while working to be part of the solution. Free RSVP
A call to a real estate lawyer costs an average of $250 per hour. In just one hotline call, you can offset your membership dues! The REALTORS® Legal Hotline is a service which provides members of the Colorado Association of REALTORS® with direct access to a qualified real estate attorney who can offer information on real estate law and related matters. The Hotline provides legal information, not legal representation. Learn More
Did you know the DMAR logo is available for download on our website? We've been getting a lot of requests for the logo as people are making graphics that share #DMARstats, Excellence Awards wins and other proud affiliation with the Association and we love to see it! Find the various files and guidelines for use here. Download Logo
Jump into flavorful real estate talk with Denver's best and brightest. In this blog series, we interview top performers and community leaders about their tips for success, who they got to where they are and a host of other juicy topics. Browse Blogs
Industry partner spotlight
Facts to remember when recommending a Title Company (courtesy of CompareTitleCompanies.com a free and easy-to-use resource for shopping title insurance and closing settlement services):
- The Real Estate Settlement Procedures Act (RESPA) guarantees consumers the right to shop and select their Title & Closing Settlement Services Provider.
- The Real Estate Commission’s Position Statement CP-34 advises Brokers to provide consumers the names of three title companies, and that the final selection of the Title Company be left to the consumer, not the broker. Consumers also have the right to shop and select a Title Company that is not recommended.
- Even though title companies are regulated by the Division of Insurance, title rates and closing fee can vary substantially, from one company to another.
- All title companies issue the American Land Title Association promulgated title insurance policies forms/endorsements with like coverages, with quality of service and costs being the only differences.
- Lastly, consumers like to save money and www.CompareTitleCompanies.com can assist Brokers in recommending the right Title Company.
Just for you
Three Tier Benefits | CTM Software
As a member of DMAR, you also gain access to member-only benefits and services from the Colorado Association of REALTORS®️ (CAR) and the National Association of REALTORS®️ (NAR). Interactive Digital Real Estate Contracts CTM Software was founded in Colorado in 2003 to serve the real estate and title markets. CTM has innovated the real estate agent market by providing rules-based workflow, highly flexible documents and scalability through its SaaS-based, end-to-end real estate transaction management platform. Today, CTM enables agents across Colorado to streamline the residential real estate transaction process. REALTOR® Single License starts at $258/year per user (save $102/year – 29% off). 30 Day Money Back Guarantee.