Raymon Bowman

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About Raymon

In 1986 I started with ERA in Central Denver. This was a particularly bad time in Real Estate for the Denver Area. While the rest of the country was suffering from the gas shortage Denver was reeling in the profits as a Gas head quarters along with the Houston area. Both areas had sky rocketing home values. By the time I entered the market the Gas shortage crisis was over and prices plummeted. Denver and Houston were the foreclosure capital of the US and I gained important experience as one of the first real estate agents that was pushing these homes. Several years later HUD instituted special low down payments and special interest rates for these homes causing the majority of Realtors to start working in this market. It was rime to get out and work with bank repos and VA listing. The market in Denver stayed slow and in recovery till 1993. By this time I had worked for four different Real Estate companies. In 1996 I got my employing Brokers License but still decided to go to work for REMAX. Home values were raising in double digits inflation from 1993 to 2003 (in one year the prices went up over 20%) The country and Denver in particular was in the middle of the DOTCOM boom and everyone was happy. About 2003-2004 Denver really hit it peak in home values and started to see much of the gain that we experienced during the DOTCOM boom fade away. Homes started to go back on the foreclosure roles HUD homes and Bank owned properties started showing up on the market. This market was saved by the loose leaning practices of 2005-2008. Denver unlike many other cities that temporarily benefited from loose financing benefited over the long run in that it slowed down the down market. This resulted in a slower fall from the peak and made the crash of 2008 less devastating than in many markets in the west like Las Vegas, California, Phoenix. I believe we are at the bottom of the market in the 80 ™ 250 Grand range. The market above that may take some more beating as the Mc Mansions that are still bank own and many upside down mortgages on these larger homes are yet to be foreclosed. Right now I am focusing my business with investors in income properties in small residential homes and townhouses under $200.000.00. Rents are up and about 1/3 of the population has to rent for 3 years since they have a foreclosure in their name. Apartment buildings are too high. Right, now with rents up, vacancies down, and interest rates down, values are higher than ever on this investment. As for myself I have many rentals and am working with investors to purchase foreclosed homes from public trustee sales, banks owned properties, and other investors owned properties. Personally, I enjoy camping, hiking, rafting and fishing when I get a chance in the summer time. My winter sports are skiing, gambling, and when I get out of town I like to scuba dive.

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