Did you know... Valentine's Day originates from the ancient Roman fertility festival of Lupercalia, which was celebrated on 15 February in honour of the gods Lupercus and Faunus, as well as the legendary founders of Rome, Romulus and Remus. During the festival, young men would draw the names of women from a box, and each couple would be paired until next year's celebration. The fertility festival was celebrated until 496AD when Pope Gelasius replaced it with a similar celebration. For patron saint of the celebration, he chose the "lovers" saint, St Valentine. He also moved the date of the celebration from the 15 February to the date of St Valentine's death, 14 February. Through the centuries, Valentines Day became to be remembered more as the festival of love instead of a religious day. In 1969 it was dropped from the Roman Catholic calendar as a designated feast day.

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Open House: 456 Corona St. Sat Jan 8 1-4pm. 3BD 2BA 2219 SqFt w/ Carriage House.

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Everything should be made as simple as possible, but not simpler. - Albert Einstein

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Aah eet's dat time again...de time when all of my human friends and colleagues are compelled to clean like crazy people. They clean their homes, they clean their cars, they organize their desks, they run around saying they are cleaning up their lives and their acts and so on, like a pack of crazy yapping female chihuahuas. All of dis' hoopla for what? If it is so important why they not do it all the time? Why just at the beginning of a new year- and den dey are back to their old slovenly habits.

I say it is good to be a dog right now- We are not bothered with such silly ideas. We know what is important- a spot in front of the fireplace to stretch out and soak up some heat after a long romp in the snow. We know it is better to chase squirrels and unsuspecting cats rather than chasing our own tales and we know that there is a limit to what we can clean up. We are okay with that. We know that we can depend on our pack to get us through whatever comes our way, whether our pack is composed just of other dogs or our human companions, even if there are dreaded cats in our pack- they will all be there for us. Humans would do well to follow our example: appreciate what you've got- never forget to say thank-you even if you have to do that by wagging your tail and licking someone's hand (or their face) and always ask if you need help. It's good to ask politely first- a quiet whine or a nudge, but if you don't get what you want it is also good to bark loudly.

In my real estate practice I see so many people struggling with their mortgage payments and their homes and they do so without asking for help. They don't whimper, they don't nudge anyone- sometimes they don't even confide in their own packs. I think this is a basic failing... People don't realize that if they are having a hard time making their mortgage payments there are places they can go to ask for help. THERE ARE FREE- COMPLETELY FREE- RESOURCES TO HELP PEOPLE OBTAIN A LOAN MODIFICATION. A loan modification can take many forms...it can defer morgtage payments for a number of months to allow a person to get back on their feet. It can reduce the interest rate- thus reducing the payment- it can even reduce the principal amount of the loan or any combination of these options. And if a person truly can't keep their home or doesn't want to keep their home any longer they should pursue a short sale.

Short sales are less damaging to credit. They allow a person to live in their home without making anymore payments until it sells and in most cases the bank will reward the homeowner with $1000-1500 for pursuing a short sale instead of sending the house to foreclosure. I think this makes infinite sense- stay in your home- save some money for the move and maybe even get a reward from the bank to help with the move. The property owner will have at least 90 day after the NED (Notice of Election and Demand for sale) is filed and served and most short sales are taking more like 120 days or more. That's 4 months to save for your move.

Max says, "the smartest thing a property owner who is behind on their mortgage can do is contact a my friends and Colleagues Carole & Greg Higgins." They are experienced real estate professionals (Realtors) who can quickly help you evaluate your situation, and your options. If you want to seek a loan modification they will refer you to one of the many non-profit organizations who specialize in helping homeowners modify their loans at no charge to the property owner and if you watn to pursue a short sale they will do that for you again at no cost to you.

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See 10 Things to Know About Real Estate in 2010 http://bit.ly/8K1aMU

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writing a letter of intent for client who is bring a brand new entertainment venue to downtown Denver.

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Fall Is In The Air...almost

I love the fall- it's my favorite season. I love the way the trees and plants display their fall foliage like so many peacocks' plummage and the cold crisp mornings that give way to mild sunny days. I like the smell of fireplaces burning in the evenings when I walk my dog. I like the idea that's it fleeting- soon all of the leaves will be gone, the mild afternoons replaced with cold snowflakes, my flip flops replaced by Keenes and I will once again don my hoodies. I will change from beer to red wine and an occasional coffee with Baileys or the like....so as I see it fall heralds huge change.

And with fall comes a change in the the federal government's first time home buyer incentives, actually the end of the program. The program that provides the tax credit is set to expire on December 1st 2009. This means that we are effectively nearing the end of the time during which a buyer can place a property under contract and reasonably expect to close on the property prior to November 3oth. Given new lending rules, most transactions will take 45 days to close and as the deadline gets closer, quicker closings will become less likley. With all of that said, I know there has been some confusion about how the credit works so here is what I know:

• First time home buyers can receive a credit of up to $8000 on their federal income tax. The credit is equal to 10% of the purchase price of the home, (which can be a condo- it is not restricted to single family homes). The maximum amount is $8000. So you have to spend at least $80,000 to get the full credit.


• Once the purchaser has closed on the property they will receive a certificate which they can use to amend their 2008 income taxes and the refund will typically be sent to them in around 2 weeks.


• Once the check is received it can be used in any way the purchaser wishes.


• For those people who are struggling with downpayment money, FHA only requires 3.5% of the purchase price as down payment and it is often possible to get a seller concession for additional closing costs that the buyer will incur.

There is talk of both extending the program into next year and expanding it to include all homebuyers not just first timers, but to my knowledge it has not yet been ratified. If you can, take advantage of this once in a lifetime deal, because the way I see it, even if you buy an $80000 property you can come out ahead , with a little planning. You put $2800 downpayment, you ask the seller to pay all of your closing costs, another $2800 or so, and you net $5200 with which to fix up your new pad or buy some cool new furniture or take a vacation. And all of that is not to mention the yearly income tax credits related to the interest on your loan, or the potential for equity gain. I see it this way: You can go on paying rent, paying down someone else's mortgage or you can buy a home, get the IRS to give you money for doing so, know that every time you make a payment you are paying down the principal amount of your mortgage, and you can take income tax credits every year so that your net income is higher. And with a little bit of luck perhaps you will start gaining equity after the markets begin to thaw. If you are thinking about buying or you have questions about the first time home buyers credit- don't hesitate to contact me or one of the other professinal realtors at Cygnus Real Estate.

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