Archive for October, 2009

Oct 31 2009

Jumbo Loan?

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A Jumbo Loan carries a higher interest rate than a conforming loan.  What does that mean?  A Jumbo is one that exceeds the current Conforming Loan Limits as determined by FHA or FnyMay/FredMc goverment insured loans. 

NAR Lauds Extension of Higher Loan Limits
The NATIONAL ASSOCIATION OF REALTORS® thanked Congress for speedy action in passing a congressional resolution yesterday that would extend the current higher Fannie Mae, Freddie Mac, and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits.
The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas. The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000.  Loans exceeding these amounts are considered Jumbo Loans. 

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Oct 29 2009

Snow Totals

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The BIG SNOW is finally about over this evening.  We feel like we shoveled, snowblowed and tractor bladed snow most of the day. Total here in the La Veta area of the lower Cuchara Valley was in excess of 18 inches.  And more than 2 feet of the white stuff up at Cuchara Pass.  A wide spread snow covering most all of Colorado.  West of Denver and Colorado Springs snow reports of over 3 feet were common.  This was our third snow this month.  Definately the most  October snow most locals can remember.   It’s  probably time  to change out my Home Page summer  photo on

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Oct 29 2009

More Snow

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Forecast yesterday called for 4 to 6 inches more snow.  Well there is at least 12 more inches on the ground this morning.  But we are assured of clear, dry weather in time for Halloween with temps reaching into the upper 50’s.

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Oct 26 2009

Jumbo Loans

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By Robert Freedman, senior editor, REALTOR® Magazine.  

 It’s still early but there are signs the availability of jumbo financing might be improving—although underwriting standards probably won’t ease any time soon. That means the days of creditworthy borrowers having a tough time getting financing for an amount over the conforming loan limit might be ending but they’ll still have to come up with a significant down payment and be prepared to show lots of documentation, like three years worth of tax returns instead of the customary two.   In other words, the improving lower-end housing market and the rising stock market are helping to push big financial services companies back into the business of loaning money rather than hoarding cash. As a result, it’s not just safe agency loans that lenders are willing to make (Fannie, Freddie and FHA) but also non-conforming jumbo loans. That helps further the narrowing of the interest rate spread between comforming and non-conforming loans.

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Oct 23 2009

More Photos

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For more Cuchara Valley photos, go to

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Oct 22 2009

Blue Sky Again

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The snowstorm has passed leaving us with lots of moisture and beautiful  clear, blue skies again.  It may be a few days before we dry out to get back to Majors Ranch to view our Hunting Properties.  But you can see them here right now, by just clicking on the link at

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Oct 22 2009

What’s That?

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Oct 22 2009

Big Snow

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And boy did it ever snow.  About 16 inches here at our place.  Over 2 feet up at Cuchara.

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Oct 21 2009

Snowy Day

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Light rain showers as we went to bed last night.  Awoke this morning to 7 inches of new snow.  And still snowing.  The Front Range (Denver down to Trinidad) seems to be in the eye of the snow storm today.  The central and western Colorado ski areas must be envious of us.

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Oct 19 2009

Indian Summer

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The past week has been the most beautiful warm weather we could imagine.  Crisp nights in the 40’s and daytime highs in the 70’s.  Tuesday  predicted to hit 80 with snow showers on Wednesday.  We love it.

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