VIP Mortgage has announced its expansion into the Colorado market by hiring industry veterans Jennifer Tulcan and John Suggs to lead their efforts. Tulcan joined VIP as executive vice president of National Sales and Suggs joined the company as VP of Process Management.
Tulcan, a Colorado native will oversee the company’s growth, while continuing to help develop sales with a heavy emphasis on the Colorado market. Currently, VIP has one branch, located in Lone Tree, Colo., with plans to add several more throughout the Front Range area.
“I am thrilled to be part of such a highly reputable and well-established mortgage lending company,” said Tulcan. “Being able to lead the expansion in my home state of Colorado gives me an enormous sense of pride.”
Suggs’ responsibilities include the successful implementation of all company strategic initiatives. The department of Process Management directly manages the strategic projects in varying degrees to ensure their success.
“With Colorado currently experiencing a ‘hot’ real estate market, VIP looks forward to working with both borrowers and realtors to make the home buying experience as pleasurable as possible,” said Suggs.
“Our hope is to bring the ‘HEART’ that VIP is known for to both consumers and loan officers in my home state, specifically the Denver Metro area, Fort Collins and Colorado Springs,” said Jay Barbour, founder and president of VIP. “People with HEART can do more together than they can do alone, and we welcome hard-working, entrepreneurial-type individuals that can help us with our efforts to continue to bring responsible lending to our customers.”
VIP Mortgage is continuing their rapid growth in the Colorado market by moving into a larger office space in Centennial, Colo.
“This move is an important step for us as we continue our advancement into the Colorado market,” said Blair Weed, regional vice president for VIP’s Colorado operations. “It is the perfect location and will allow us to reach and serve clients throughout the Front Range”.
Colorado has been on the radar for expansion for some time and this move is just the beginning for what VIP hopes to be continuing success throughout the state. With the new office now up and running, VIP is looking forward to quickly adding more branches in Denver, Colorado Springs and Fort Collins.
“This move will serve as the catalyst for expanding VIP Mortgage’s presence in Colorado,” said Jay Barbour, VIP founder and president. “Blair and his team are ready to take advantage of this opportunity, and I can’t wait to see what the future holds! Growing VIP in my home state of Colorado has long been a dream, and to see it coming to fruition is beyond exciting for me and the whole VIP family.”
The phrase “Rocky Mountain High” took on a new meaning with data news that the Denver metro area luxury housing market set a record on sales of homes listed at $1 million or more.
According to a Denver Real Estate Watch analysis of REcolorado data by Kentwood Real Estate, 115 single-family homes in the Denver area priced at $1 million or more were sold in July, a 10.6 percent year-over-year increase. The total dollar volume of luxury home sales in July was $173.87 million, a new record for the month and a 7.9 percent increase from July 2015.
The average price of a luxury home sold in this market during the month was $1.51 million, with the most expensive property—a seven-bedroom, 11-bathroom, 15,652-square-foot mansion in the Denver Country Club neighborhood—selling for $5.6 million. And while the number of luxury condo sales in this market were a bit skimpy in July—a grand total of four, down 42.9 percent from the seven sales in July 2015—there have been 31 luxury condos sold year-to-date in 2016, a 6.9 percent increase from 29 sales in the first seven months of last year.
In comparison to the luxury home market, the volume of sales for all housing in the Denver metro area fell 19.2 percent year-over-year in July, according to the Colorado Association of Realtors.
The 2016 CAR Fall Conference & Expo will be held Sept. 21-24 at the Interlocken Hotel & Resort,1STBank Center, 11450 Broomfield Lane in Broomfield, Colo.
Don’t miss out on Fun, Networking, 4 Amazing Keynote Speakers, Education, Food Truck Village, Expo, and so much more!. We’re making it easier than ever to be smarter about the future of real estate with ideas you can quickly integrate into your business.
The Colorado Mortgage Lenders Association (CMLA) has announced its speaker lineup for its Annual Convention in Vail, Colo. Set for Wednesday-Friday, Aug. 3-5 at the Vail Marriott Mountain Resort. The event will feature networking events, speaker presentations and breakout sessions covering important topics and trends affecting the mortgage industry.
Headlining this year’s lineup is best-selling author Tommy Spaulding, a world-renowned speaker on the topic of leadership, who has shared his wisdom with hundreds of organizations around the globe. His first book, It’s Not Just Who You Know: Transform Your Life and Your Organization by Turning Colleagues and Contacts Into Lasting, Genuine Relationships, quickly climbed to the top of The New York Times, Wall Street Journal, and USA Today national bestseller lists. His latest book, The Heart-Led Leader, published by Penguin Random House in October, 2015, is a New York Times and number one Wall Street Journal national bestseller, and was also listed as one of Inc.com’s Top 100 Business Books of 2015.
This year’s conference will also feature Rodrigo López, chairman-elect of the Mortgage Bankers Association (MBA). López has been actively involved with MBA for almost three decades, and is a former chairman of the MBA’s Commercial/Multifamily Board of Governors. He was the recipient of MBA’s Distinguished Member Award in 2010, MBA’s Burton C. Wood Legislative Service Award in 2002, and MBA’s Master Faculty Award in 2000.
Also joining the lineup is U.S. Rep. Scott Tipton, representative for Colorado’s 3rd District. Rep. Tipton serves on the House Committee on Financial Services, and is Vice Chair of the Congressional Western Caucus. He is also the co-founder of the Congressional Small Business Caucus, a bipartisan caucus committed to open dialogue on the issues that most impact small businesses. Prior to his involvement in politics, he spent over 30 years running a small business.
Returning this year is Chief Economist Elliot Eisenberg, Ph.D., a perennial favorite who specializes in making economics fun, relevant, and educational. He is a former senior economist with the National Association of Home Builders (NAHB) in Washington, D.C., and is a frequent speaker on topics involving homebuilding, tourism, and the economic consequences of government regulations. Dr. Eisenberg has published more than 85 articles, and has been featured in Bloomberg, Businessweek, Forbes, Fortune, as well as many other publications.
Rounding out this year’s presenters are a couple of local favorites. E. Michael Rosser, CMB, AMP, CML, is an author and historian on the mortgage industry in Colorado. He is a member of the CMLA Board of Governors, co-chair of the CMLA Legislative and Regulatory Affairs Committee, former CMLA president, and former State Housing Board Member. Tanis Roeder is the owner of Elevate Your Communication LLC. She is a member of the National Speakers Association, and has presented to audiences across the country on how to elevate their networking, body language, and presentation skills.
The Colorado housing market has failed to keep up with the state’s fast-rising population.
According to a Denver Post analysis of U.S. Census Bureau data, Colorado’s population increased in 2015 by approximately 102,000, but only 25,143 new homes, condos and apartments were added in the state during this period. If one views the average Colorado household size as 2.5 people, this means there should have been 40,500 housing units added—but, instead, Colorado is 15,000 homes short from where it should be.
A housing shortage is not unusual to Colorado: there was a shortfall of 19,000 in 2012. But at that time, the state was still adjusting to the post-recession environment, while many homes were vacant and housing prices were still relatively affordable. Today, however, Colorado’s home prices have been in a massive ascension and affordable housing options are scarce—but construction has lagged behind demand, with a 1.1 percent a year increase in units over the past two years while the population grew 1.9 percent in the 12 months ending July 1, 2015.
“2016 is proving to be a great year for expansion within PRMI and we are thrilled to announce the opening of this new Durango branch,” said David Zitting, president and CEO of PRMI. “Our branch manager, Brad Cook, is a longtime community resident and excellent resource for those looking to achieve homeownership.”
The PRMI Durango branch joins the Four Corners Team with over 75 years of lending experience. One unique aspect of the PRMI Four Corners Team is the in-house, exclusive underwriting. Having a dedicated underwriter means a better understanding of the local market, increased access to information, open communication with clients and typically quicker closing and funding timeframes.
“I joined PRMI with the intent to open a branch with people who really care about our community. Our goal is to support Four Corners residents and realtors by delivering outstanding client service throughout the loan process,” said Cook. “Keeping operations and decisions local is incredibly important to us.”