Colorado Springs Real Estate Video Blog with Jason Daniels

Changes in Our Market Since 2008

2020-02-20T06:54:00.004-08:00

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How has the real estate market changed since the crash of 2008? It hasn’t changed a whole lot, but the minor changes that have been enacted were done so for good reason. Lending restrictions, for example, have tightened. To find out what other changes you need to be aware of, watch this short video.

What Buying a Home Will Cost You

2020-02-20T06:47:00.006-08:00

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How much money do you need to buy a house? The good news is, there are plenty of home financing options for you to choose from. How much cash you need depends on the type of financing you use. To find out more about what your options are, watch this short video.

How Your Property Taxes Affect Your Monthly Payments

2020-02-14T09:43:00.006-08:00

Here’s what soon-to-be homeowners should know about their property taxes. Instead of paying them directly to the government, you pay your mortgage company.

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How exactly do property taxes affect your monthly mortgage payment? Most lenders require that they pay your taxes by placing some of your closing cost money in an escrow account. This ensures that the government won’t place a lien on the property before the mortgage company does.

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Once the lender calculates your tax bill, they divide it by 12 and add it to your monthly payment

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Via an estimate from the county, your lender will figure out what your tax estimate is. Taxes are due April 15, but here in Colorado, property taxes are paid in arrears, meaning that your taxes don’t have to be paid in their entirety by April 15. Specifically, the state allows you to pay the first half of what you owe in taxes in February, and the second half in June.

Many mortgage companies prefer this method because it allows them to hold on to your money and keep the interest. Once the lender calculates your tax bill, they divide it by 12 and add it to your monthly payment, splitting it up nicely over the year.

If you’re using an online mortgage calculator, make sure you’re including taxes and homeowner’s insurance because those will most certainly affect your monthly payment.

If you have more questions about this topic, or you’re ready to start looking at homes, feel free to reach out to me via phone or email. You can also check out the latest Pike’s Peak area homes by following the links below.

Reasons Real Estate Deals Can Fall Apart

2020-01-28T07:16:00.004-08:00

Today I’m explaining the three main reasons real estate deals fall apart.

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Today I want to explain the three main reasons why real estate deals fall apart. Some of these deal-breakers are avoidable, some are not.

1. Financing. If the buyer is having financial difficulties, like not getting the proper documentation to the lender or having issues with income, a deal can fall apart. There are many reasons financing can fall through.

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Some of these deal-breakers are avoidable, some are not.

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2. Problem with the property. If a problem with the property is found during the inspection, like a major issue with the roof or furnace that the seller is not willing to address, that can often lead to the deal falling apart. However, if you’re the seller, you have to disclose that information to the next buyer, so it always makes sense to keep the first deal together. As a buyer, if there are multiple offers on the home, you need to decide if it makes sense to cancel the deal if it’s not going to cost you that much to fix it yourself. Your Realtor can help with this decision.

3. Cold feet. Sometimes a buyer gets cold feet and backs out of the deal, or sometimes they find a house they like better.

If you have any questions please reach out by phone or email. We would love to hear from you.

What Role Do Escrow Accounts Play in a Home Sale?

2020-01-13T09:32:00.004-08:00

If you’re confused about what an escrow account is, today I’ll provide a quick definition.

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What is an escrow account?

An escrow account is what a mortgage company sets up when buyers get a loan to purchase a house. The account is comprised of funds that don’t apply to the principal or interest of your mortgage. In other words, they’ll go toward your property taxes and homeowners insurance. The payment for setting up your escrow account is included in the closing costs.

Every time you make a monthly payment to your mortgage company, they’ll take a piece of that check and put it into your escrow account. Usually, homeowners insurance is billed annually, so your mortgage company will use your escrow account to pay your bill when it’s due. That’s why your insurance company actually sends your mortgage company the bill.

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Every time you make a monthly payment to your mortgage company, they’ll take a piece of that check and put it into your escrow account.

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Here in Colorado, property taxes are paid in arrears, which means you can pay them in April, or pay half in February and half in June. Most mortgage companies prefer to split the payment. That way, after they make the first payment in February, they can collect interest on it until June.

When it’s time to sell your home, a lot of sellers have one question in particular at the closing table: Why is the title company billing me for taxes if I already paid them through my mortgage company? When you pay taxes to your mortgage company, those funds aren’t sent to the county—they’re held in your account. When you sell your home, to ensure there are no tax judgments against the new owner, the title company has to collect them from you at closing. You can either pay out of your equity or write them a check.

The mortgage company will then mail you a check three or four weeks after closing, so make sure they have your new forwarding address so you can get that money back.

As always, if you have questions about this or any other real estate topic, or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.

What To Look for When You're Walking Through a Home

2019-12-23T13:07:00.007-08:00

When you’re walking through a home you’re considering for purchase, what things should you keep an eye out for? Today I’ll tell you.

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When you’re touring a resale listing you’re interested in purchasing, look at the windows, doors, ceilings, and other areas of the home for signs of structural damage. Check to see if there’s any cracked drywall, water damage, rust on the water heater, or drainage coming from the air conditioning.

Pay attention to the plumbing, too, especially if you live in Colorado Springs: Polybutylene pipes used in house construction in the 1980s have been known to burst.

You’ll also want to take a walk around outside the home to check for cracks in the brick, siding, or foundation walls. See if your roof is made with t-lock shingles, as the whole roof will need replacing if any of them are damaged.

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Don’t get caught up in the aesthetics of the house.

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Above all, make sure that you’re working with a knowledgeable Realtor. You don’t want to take the time to write an offer on a home that has a host of hidden, potentially costly issues that will cause problems down the road.

I have a background in construction management, and my team has been trained to know just what to look for. We’ll also help you schedule a home inspection for a home you’re interested in purchasing; a home inspector will go through the whole house to assess the condition of the property.

Again, don’t get caught up in the aesthetics of the house. Ugly carpets can be replaced, and shiny new appliances don’t necessarily mean the whole house is that new or stable.

If you have any questions about buying a home, including what to look for as you walk through a showing, don’t hesitate to reach out to us. We’d be glad to help you ensure that your next purchase goes off without a hitch.

The Benefits of Working With Our Team

2019-12-19T09:11:00.004-08:00

Our team offers clients a smooth, professional experience from beginning to end. Here’s how our team provides superior service to both buyers and sellers.

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Whether you’re thinking of buying or selling a home, you want to have a real estate team at your side. When you work with a team of agents, you have a group of professionals who are experts at what they do.

It’s much more effective to have a team, which is why I created an environment filled with professionals who handle specific tasks. We have a director, a transaction coordinator, a listing manager, buyer specialists, and listing specialists. We meet each week and work together to ensure you have a smooth, hassle-free experience with superior service.

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When you work with us, you have an entire team at your disposal.

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We have staff members who are always available to answer any questions you may have, and we’re able to show listings to homebuyers seven days a week. We work to fit your schedule.

When you work with us, you have an entire team at your disposal. Buyers can get all of these services at virtually no cost, as sellers are the ones who cover our commission. Sellers are also receiving a great deal, as they get a whole team for the price of one agent.

Your transaction is handled smoothly from beginning to end, and we’re always here to provide you with any information you need. If you’re not happy with our service, you can cancel at any time. In the three years we’ve offered this option, however, nobody has used it — we keep our clients happy.

If you’re looking to buy or sell a home and would like to learn more about our services, feel free to reach out to us. We look forward to hearing from you soon.

When Should You Lower the Price of Your Home?

2019-12-09T08:09:00.003-08:00

When should you lower the price of your for-sale home? Here’s my advice.

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When we work with our seller clients, we track how many online visits their listing gets via Zillow, Realtor.com, and so on. We expect a certain amount of traffic based on the home itself, but if the listing doesn’t get as much as we’d expected, we’ll take a look at other listings in the area we’re marketing the home in to find out whether it’s just our seller’s home or if it’s the market in general.

Sometimes homes fail to attract attention simply because the market has begun to slow down, and in those cases, you don’t want to lower your price.

We’ll also monitor the physical activity your listing generates—that is, how many people are actually coming to your home for a showing. If your home is receiving a lot of online traffic but few or no in-person showings, then the price of your home needs to be reduced.

When it is necessary to change your home’s price, you’ll often have to change it by at least $5,000 to even see a difference in the flow of traffic around your home, and sometimes by $10,000 to trigger any offers.

The market is always going up and down and correcting itself, but right now, home sellers need to be careful to price their homes more realistically from the very beginning.

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If your home is receiving a lot of online traffic but few or no in-person showings, then the price of your home needs to be reduced.

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You do have some options, however. Suppose you’ve listed your home for $300,000 and you get an offer from a buyer that requests a $20,000 reduction. Scott Edgin, a friend of mine from Universal Lending Services, shared a tip with my team: If the buyer makes an offer below your asking price, you can buy the interest rate down for the buyer for up to a full point. For the $300,000 home, that would amount to $10,000.

If the buyer were to have gotten the home for the $280,000 they had originally requested, their monthly payment would still be higher than if they’d paid the asking price and asked you to buy down their interest rate—about $70 higher per month.

We’ve found this to be a creative way for sellers to still get their asking price for their home and to give buyers a lower monthly payment. It’s truly a win-win situation.

If you have any questions about this approach, don’t hesitate to reach out to us. We’d be happy to help you.

Do You Know the Difference Between a Pre-Approval and Pre-Qualification?

2019-11-26T08:05:00.006-08:00

If you’re looking to buy a home, a pre-qualification or pre-approval can help. Here’s how.

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You’ve probably heard the terms “pre-approval” and “pre-qualification” before, but do you know the difference between them? It seems that even people in the industry get these terms mixed up, but they have very distinct differences.

A pre-qualification is when a buyer reaches out to a lender and verbally told them about their income and debts in a short application. This is a great first step, but the pre-approval takes things to another level.

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Being pre-approved is much more advantageous to buyers

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A pre-approval is when the lender submits an application and verifies the debts, income, and assets of the potential buyer. We like to see our clients get pre-approved before shopping for a home. This also means that the application has been through the underwriting system.

In the end, being pre-approved is much more advantageous for you as a buyer than a pre-qualification is. If you have any questions for me or need a pre-approval yourself, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How Much Will You Pay in Closing Costs?

2019-11-12T10:52:00.005-08:00

How much will you pay in closing costs? Let’s discuss.

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How much will you pay in closing costs?

What you’ll pay is determined by whether the buyer and the seller both have closing costs. The seller is generally going to have closing costs. Here in Colorado, it’s customary for the seller to pay for the title insurance. The closing fee for the title company and the closer that does all the paperwork is commonly split evenly between the buyer and seller, it’s usually around $130 each. The title work can be anywhere from 0.5% to 0.75% of the sales price. That’s frequently a seller cost.

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What you’ll pay is determined by whether the buyer and the seller both have closing costs.

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Closing costs will typically be more expensive for the buyer, especially if they’re using a loan. If you’re paying cash, your closing costs are minimal. I recommend you work with a local lender that can educate you on loan programs, if you’re going that route, to determine what you’ll pay in your specific closing costs. The great news is, some of those loan deals offer cash assistance programs from local government agencies or the state. Depending on the market, we can also ask the seller to pay for some of the buyer’s closing costs.

If you have any questions please speak with your Realtor. If you don’t have one, please reach out to us. We’re glad to help and walk you through anything you need. Let us know how we can assist you!

The Inspection Process Explained

2019-10-29T07:44:00.000-07:00

The home inspection is a perfect time for buyers to see what they’re getting themselves into. Learn about what happens during the inspection process.

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If you’ve ever wondered what happens during the home inspection process, today’s message is for you.

During an inspection, a NACHI-certified home inspector will visit the property and check out everything from the major systems and appliances to the most minor of details. So, given how thorough this process is, you can imagine that the reports they produce at the end of the inspection are bound to reflect some problems.

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Safety, mechanical, structural, or health-related problems tend to be the most significant.

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The most important thing is to know which problems are a big deal and which aren’t. Safety, mechanical, structural, or health-related problems tend to be the most significant. So, if you’re buying a home that has any of these issues, you and your Realtor will almost certainly draft an objection to ask that the seller either resolve the problems themselves or give you a financial credit to do so.

After receiving this, the seller will respond with an amendment to the purchase contract called an inspection resolution. After everyone has agreed to and signed this amendment, it becomes a tangible representation of the seller’s legal obligation to fix the listed issues.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Why Selling Your Home This Winter Could Be a Great Idea

2019-10-15T12:17:00.000-07:00

A winter home sale might not be as risky as you think it is. Here’s why.

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We hear a lot from sellers who would like to move during the winter but have heard horror stories about others doing so. They think the market will be worse and they will get less money.

While that can be true in some instances, it’s not always the case. We always like to tell our clients that the best time to move is when it’s right for them, their situation, and their family. Trying to time the market could result in getting burned and adding a ton of unnecessary stress.

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Your odds of selling are actually better in the winter.

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We sell a lot of homes in November, December, and January. We looked at the number of sales that occurred during June, July, and August, and we found that only 9% of the homes on the market were selling during the summer, while 14% of the homes on the market were selling during the winter.

There are a couple of reasons for this. A lot of times, sellers put their homes on the market in the spring and summer just to test the market. While there are a lot more buyers out there in the spring and summer, your odds of selling are actually better in the winter.

If you are interested in selling this winter, we’d be happy to help. If you want to wait until spring, that’s fine too. We can help you out either way.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Should You Lower the Price of Your Home?

2019-10-01T07:11:00.002-07:00

Many sellers think that lowering their list price is the only way to draw in more buyers, but this isn’t the case. Let’s discuss what other options you have.

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There are many reasons a listing might struggle to sell, but the first thing sellers usually assume is that the issue is the price. This is often correct, but it isn’t always the case.

Sometimes, the market is simply slowing down. The best way to determine whether it’s time to lower your price is by looking at whether other homes on the market have also seen a lack of activity. If they have, your price is probably fine where it is.

Of course, setting your price correctly from the beginning is always better than lowering it later down the line. As long as you partner with an experienced real estate professional from the very beginning of your home selling journey, you should be fine.

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Setting your price correctly from the beginning is always better than lowering it later down the line.

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If there does come a point where you need to reduce your listing’s price, you’ll need to lower it by at least $5,000 to see a difference in the number of offers you receive.

Another way to help make your listing more attractive to a buyer who’s concerned about money is by “buying down” a lower interest rate for them through their lender. This is a great way to ensure that you still get asking price for your home, all while incentivizing the buyer with a low monthly mortgage payment.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Can You Turn Your Home Into an Airbnb?

2019-09-17T13:28:00.001-07:00

Can you turn your home into an Airbnb? The answer depends on a few factors.

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With so many people moving to Colorado Springs, many residents are making extra money on the side by renting out rooms or entire properties. If you’re considering turning your own home into an Airbnb, you have a great opportunity to do so, but there are a few things to keep in mind.

First, Colorado Springs and Manitou Springs have implemented several restrictions regarding short-term rentals. In either area, you have to apply for a permit to make sure you’re in compliance. You can use this link to double-check all the requirements, which include getting liability insurance, paying taxes, etc.

How do you know whether your home will work as an Airbnb? If you live in an HOA neighborhood, you need to check with your homeowners association to see whether it’s allowed. A lot of HOAs have changed their bylaws recently to disallow residents from turning their home into an Airbnb.

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No matter what your plans are, do your homework and make sure you’re in compliance with your HOA and/or city guidelines.

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We’ve found that homes on the west side of town are ideal for Airbnbs. Some investors have sold single-family homes on the east side of town and then bought multiple smaller homes so they could double the rent they receive, but that strategy comes with some inherent risk. No matter what your plans are, do your homework and make sure you’re in compliance with your HOA and/or city guidelines.

As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.

How to Fix a Stagnating Home Sale

2019-09-03T12:25:00.000-07:00

Here’s why your home hasn’t sold and what you can do about it.

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Why won’t your home sell? The answer boils down to one or a combination of three reasons:

Price—your home might be priced too high
Condition—it might not be in the appropriate condition for how it’s priced
Location—it may be in a less popular area

If your home’s condition and location aren’t ideal, these factors can still be overcome if it’s priced properly. Anyone will buy anything if it’s priced correctly.

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A new coat of paint and a fresh layer of carpet are easy upgrades you can make.

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If you don’t want to drop your sale price, you can always try improving your home’s condition. A new coat of paint and a fresh layer of carpet are easy upgrades you can make. You can’t do much to “improve” your location, so just keep in mind that most homebuyers will be concerned about homes that, for example, back up to a busy street.

If you’d like my team and me to diagnose your situation, we would be happy to come out to your home, offer some tips about what needs to be done to it, and determine whether it’s priced appropriately for our market. Just give us a call or send us an email—we look forward to hearing from you.

3 Possible Reasons Why Your Offer Was Rejected

2019-08-19T13:25:00.001-07:00

In today’s message, we’ll discuss three reasons why buyers’ offers are rejected and what you should do if this happens to you.

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Your offer on the home your sights are set on has been rejected. What should you do now?

Before you do anything, seek your real estate professional’s advice on why they think the seller turned your offer down. A lot of times, if you’ve made an offer well below asking price and the home hasn’t been on the market for long, therein lies the problem. With the help of your Realtor, pull a list of comparable sales from that neighborhood to make sure your offer was reasonable.

If you’re puzzled because you made what you believed to be a strong offer, it could be that the seller received multiple offers and chose one with a more favorable price and/or terms. Next time, see if multiple offers have been made on the home, so you can give yours some added appeal.

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Our mission is to help you get the best deal in the least amount of time and with the least amount of hassle.

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It’s also possible that the seller is being difficult, and their rejection is a sign that they want you to come up in price. It’s often tough to identify the reason unless you and your Realtor dig a little deeper.

If you have any questions or you’ve been rejected by a seller before and you’re no longer working with an agent, please reach out to my team. Our mission is to help you get the best deal in the least amount of time and with the least amount of hassle.

And if you have any other real estate-related questions, let us know as well. We look forward to serving your needs!

Knowing When You’re Ready to Buy a Fixer-Upper

2019-08-05T10:00:00.000-07:00

Are you ready to buy a fixer-upper? There are a few things you need to take into consideration before answering that question.

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Are you ready to buy a fixer-upper?

To answer this question, you need to understand what you’re getting into, because unless you’re just repainting and replacing the carpet, this kind of project takes a long time. That’s why, before you begin the process, you should talk with your Realtor so you both know what you’re getting into.

Shopping for fixer-upper is sort of like shopping for another home, but with a few key differences. The homes you look at should have enough equity in them so that you can spend money on them without over-improving them. Also, anytime you buy a fixer-uppers, whether you plan on staying in the home or not, you need to make sure you’ll be able to get your money back when you sell it. You make your money when you purchase the fixer-upper, so keep an eye out for estate sales, foreclosures, or listings that were once rentals and are now a little rough around the edges.

Before you buy anything, though, you need to do your due diligence, and it’s a good idea to talk to a contractor during this time. There’s a lot of research involved in this process, and you need to be able to estimate the repair costs of each house and price out the materials (flooring, paint, etc.) needed for those repairs.

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Shopping for fixer-upper is sort of like shopping for another home, but with a few key differences.

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I’ve seen home renovation projects nearly ruin marriages, so make sure you have the necessary time to devote to this type of project. If you’re a working professional, you probably won’t have time to fix up the property all by yourself, so you should consider hiring a contractor to do the work.

If you’re able to do the work yourself, you can build up a lot of sweat equity, but you need to know your skill level before you dive into it. Sometimes people get in over their heads and end up stuck with a neverending rehab project. Either that, or they’re forced to sell at a loss.

When it comes to financing your purchase, there are some great loan options available out there. The FHA 203(k) and FHA 203(k) streamline loans, for example, will finance the purchase of the property and the work involved to fix it up. There are also various conventional loan products that do the same thing.

I have a background in construction management and have flipped many homes myself, so if you have any questions about this topic, don’t hesitate to reach out to me. I’d love to help you get started.

The Question of Timing the Market

2019-07-23T08:48:00.000-07:00

You can’t time the market—when you should buy or sell depends on your personal situation.

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Whether you’re a buyer or a seller, it’s not possible to time the market. You can only tell if a market has gone up or down about six months after it’s already been where it’s been.

How do you know when the best time is for you to buy or sell? The answer to that question is based on your family and housing needs. Obviously, you want to buy low and sell high if you can, so depending on your circumstances, you should meet with a Realtor or a lender and get their input on your situation.

If you’re a buyer, it’s not just home prices that affect your decision—you have to take into consideration interest rates too. If prices are going up but interest rates are staying the same, it’s better to buy now because if both of these things start increasing, it will make things even more expensive for you. Most likely, you’ll need a mortgage to purchase a home, so keep an eye on both of these variables.

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I recommend making your buying or selling decisions based on your family and housing needs.

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As far as what’s the best season of the year to sell, every month is a good time to sell as long as you have the right Realtor and the right marketing plan. We sell a lot of homes during the summer, but sometimes the homes sold in winter do so at a higher average price. In the summer, you deal with more tire kickers, while the winter brings out more serious buyers. Specifically, the end of January through March and the month of June are the times of the year when you can typically sell your home for more.

If you’d like to have a conversation about when the best time would be for you to buy or sell a home, don’t hesitate to reach out to me. I’d love to speak with you.

A Guide to Buying and Selling a Home At the Same Time

2019-07-09T08:37:00.003-07:00

How can you buy and sell a home at the same time? Today I’ll walk you through your options.

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“How do I buy and sell a home at the same time?”

This is a quandary a lot of our clients get really stressed about. However, we’ve walked hundreds of clients through this process, and so today I’ll give you some guidance on how to navigate this type of transaction.

Many people can’t afford to buy the next home until they sell their current one because all of their equity is tied up in it. This is a barrier, but not an insurmountable one. There are a couple of different ways to approach this scenario:

1. Sell first, then place a contingent offer. Typically, this is the easiest option: First, we list your home and get it under contract, then we go shopping for another home. Once you’ve located the home you want to buy, we’ll write a contingent offer on it, which means that your offer to purchase the home is contingent on the sale of your current one. That way, you won’t have to worry about losing your earnest money on the new home, especially if the deal falls apart.

Back when the market was getting tight, many sellers didn’t want to accept contingent offers. If there are multiple offers up for grabs, they’d typically choose a non-contingent offer. Today’s market, however, is more of a level playing field—if you’re willing to make a decent offer, sellers are willing to accept a contingent offer, so long as your current home is already under contract.

This option also enables you to move only once between homes. You won’t have to put your belongings into storage as you wait to purchase a home to move into.

"We’ll take a look at your individual situation and assess what options will work best for you."

2. Pull equity from your current home to buy the second home. If you have the ability to tap into the equity of your current home, you can actually apply for a line of credit, also known as a bridge loan, that will let you use the equity from your current home to serve as a down payment on your new home. Of course, you’d have to qualify for both mortgages, which can be a little risky, but you can contact us if you have any questions about that.

The great thing about this method is that if you have lots of children and/or pets, you can move into your new home without having to worry about scheduling showings for your old home while you still live there.

When you’re our client, we’ll take a look at your individual situation and assess what options will work best for you. If you have any questions, please feel free to reach out to us. We’re here to help!

Yes, You Should Stage Your Home—Here’s Why

2019-04-15T12:13:00.001-07:00

Staging your home can help it sell quicker and for more money, and there are two ways you can stage it.

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As a home seller, you should know that staging your home can help it sell quicker and for more money. In fact, NAR statistics show that staged homes sell for 17% more on average. Other studies show that staged homes sell twice as quickly as well.

That being said, there are two ways a home can be staged: One is by leaving it vacant with no furniture, and the other is by having a professional stager declutter and arrange the furniture. If you list your home with our team, depending on which marketing package you use, we have a certified, professional home stager stage your home room by room.

"NAR statistics show that staged homes sell for 17% more on average."

We also have a list of staging tips we give all our seller clients during our first meeting. If you’d like a copy of this list, get in touch with us and we’d be happy to send you one. You don’t have to follow your home stager’s advice, but the statistics don’t lie—it really does make a difference.

If your home is vacant and it’s at or above the $400,000 to $450,000 price range, we recommend that you at least stage the kitchen, living room, and master bedroom. These are the key areas people will try to imagine where their furniture will fit, so having furniture in there will help them do this.

If you’d like to know more about staging a vacant home or how to stage a home with existing furniture, feel free to give us a call or send us an email. We’d be happy to help you.

Get Your Home Market-Ready for Spring

2019-03-12T08:52:00.000-07:00

If you’re thinking of selling your home this spring, there are a few ways you should start preparing now.

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Spring is one of the best times of year to sell your home, but what can you do to ensure your sale is as successful as possible?

To fully maximize your listing’s potential, there are a few key preparations you must make before putting your property on the market.

First, spruce up your curb appeal. You only get one chance to make a first impression, so make it count. Keep your lawn trimmed, have your bushes and trees looking neat, and add strategic pops of color by putting potted flowers along your walkway or near your door. You’d be amazed what a difference a little fresh mulch can make.

The next step you should take is to clean and declutter. Not only will this make your home look better but, it will also help you get a jumpstart on the packing process.

If you don’t have time to clean yourself, or if you just want to make sure the job is done correctly, you can always hire a professional.

"You’d be amazed what a difference a little fresh mulch can make."

After this, you should touch up your flooring and walls if necessary. Dings and scratches in your drywall should be patched, and fresh paint should be applied as necessary. Make sure to stick to neutral colors, though, as this will appeal to the widest range of buyers.

And speaking of appealing to buyers, make sure you put away any pet-related items. Though we all love our own four-legged family members, not all buyers do. That huge cat tree you have in your living room could be a major turnoff for potential buyers, so it’s best to put such items away.

Of course, every home is different. If you have any questions about how to prepare your home, specifically, we’d be happy to come visit for a free consultation. Then, if you decide to continue working with us, our team’s home stager will take your property to the next level.

If you’d like more information or would like guidance on any other aspect of the real estate process, feel free to give us a call or send us an email. We look forward to hearing from you soon.

How Many Homes Should I View Before I Decide to Buy?

2019-02-15T13:01:00.000-08:00

Buyers often wonder, “What’s the magic number of homes I should see before I make a decision?” Today I’ll be answering that and more.

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I’m very accustomed to hearing this question from buyers: “How many homes should I look at before I make a purchase?” The answer often hinges on market conditions and the specifics of a buyer’s situation.

Buyers haven’t had the luxury of high inventory levels these last few years, and with the sparse availability of homes, we’ve seen buyers submit an offer on just a single home without viewing any others, out of immediate need.

I’ve been in this business long enough to remember when we had a glut of inventory and buyers who aspired to see 70 homes. This, of course, is too many.

"You’ll be best served to work with a competent Realtor who will devise a realistic approach centered around every detail of your situation."

Plainly put, I’ve seen both extreme ends of the spectrum.

To help tackle the question of how many homes you should view, you’ll be best served to work with a competent Realtor who will devise a realistic approach centered around every detail of your situation. In this way, we’ll be able to come up with a list of needs so you’re not having to do all the work on your own.

When you work with us, we’ll look at three to five homes a day to shield you from the confusion that sometimes follows from seeing too many homes in a short time. What we’ve found over the course of the last year is that the average buyer is looking at four homes and then reaching a decision.

In analyzing the 10-year average, buyers have been known to look at seven to eight homes before making a choice. This look at the last decade is a demonstrable sign that if we, as agents, are listening to your needs, you shouldn’t be looking at an inordinately high number of homes. Our job is to come up with a strategy that narrows down potential purchases for you to make the most informed choice possible.

If you have any questions about the home buying process or any other real estate-related topics, please reach out to us. We’d love to hear from you!

Selling Your Home In the Summer vs. the Winter

2019-01-21T11:45:00.001-08:00

Should you sell your home in winter? Today I’ll talk about the pros and cons of listing your home during the cold months.

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We hear this question a lot from sellers. They’d really like to move in the wintertime, but they’ve heard rumors that the market is just better in the spring and summer and that you’ll get more money.

That can be true in some cases, but not always. When asked this question, we always tell our clients that they should sell the home when it’s right for them given their unique situation, whenever that may be. If you try to time the market, you may get burned, or it may cause stress in other areas of your life—it’s never totally a safe bet.

Contrary to popular belief, we sell a lot of homes in the months of November, December, and January, and people are still buying them. In fact, I knew a broker years ago who did a six-year study; I’ve run the numbers again recently, and the stats still hold true.

We looked at the number of home sales that occurred in the months of June, July, and August, and then compared them to homes that sold in November, December, and January. This is what we found: Only 9% of the homes active on the market were actually selling in the summer months, whereas in the winter months, 14% of the homes on the market sold. That means that 5% more homes sold in the winter than in the summer.

"Contrary to popular belief, we sell a lot of homes in the months of November, December, and January."

There are a couple of reasons for that trend. Many homes are put on the market in the summer to test the market out, and there are a lot more buyers during that time. So do more homes sell during the spring and summer? Yes, but your odds are better if you sell in the winter.

Some people want to take the holidays off so they don’t have to deal with people walking through their home, and that’s okay. If you need to sell your home, we’ll get it done whenever is best for you. However, if you do want to list in the spring, it’ll be better if you start now so you can begin preparing and staging your home before the frenzy begins.

If you have any questions, don’t hesitate to reach out to me. We hope to hear from you soon!

The 9 Basic Steps of Buying a Home

2019-01-07T10:53:00.001-08:00

If you’re thinking of moving in 2019, this nine-step home buying guide is for you.

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Thinking about everything that goes into buying a home may seem overwhelming, but don’t worry—our team is here to help. We’ve broken down the home buying process into nine simple steps:

1. Find a Realtor you can trust. Don’t hire the first Realtor you see on a yard sign. Instead, do your research on local agents and choose a professional who has the experience, knowledge, and resources necessary to guide your home buying experience.

2. Get pre-approved with a local lender. Doing this will not only help you better understand what you can afford, but it will also help you determine what kind of financing is best for your circumstances. Even if you’re paying with cash, you’ll still need to connect with a lender to request a proof-of-funds letter.

3. Have a consultation with your agent. Before beginning your search as a buyer, sit down with your Realtor and discuss the five must-have items you're looking for in a home. When you walk into this meeting with that list already prepared, your agent will be much better equipped to point you in the right direction.

4. Start looking at homes. After you’ve completed the first three steps, it’s time to get out there and start checking out your options. Your agent will be happy to take you on a showing of each property, but it’s also a good idea to do some research on your own beforehand. You may find that after driving by a certain home, you’re no longer interested in it. After this, you and your agent will tour between three and five homes to see if any are a good fit. Seeing any more than this at one time can cause the options to bleed together in your mind.

"Don’t hire the first Realtor you see on a yard sign."

5. Write up an offer. Once you’ve found the right home, you and your agent will draft an offer. The seller will more than likely counter it, but your agent should be more than capable of navigating through the negotiation process.

6. Provide an earnest money deposit. Assuming your offer was accepted and you’ve gone under contract, the next step is to submit an earnest money deposit. This deposit shows the seller that you are serious about the purchase. Better yet, the money will later be applied toward your down payment if the deal goes through as planned.

7. Order an inspection. Home inspections are designed to identify any structural, mechanical, or safety issues in the property. The buyer can then request repairs based on the findings.

8. Order an appraisal. While home inspections are meant to assess a home’s condition, an appraisal is meant to assess its value. Verifying what the home is worth with a professional appraiser is crucial, especially if you’re using a loan.

9. Wait for the underwriter’s “clear to close.” Assuming everything goes as planned, the underwriter will approve the buyer to proceed to closing. Then, after you’ve signed a few dozen papers, the home is yours.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

What Does the Increase in Conforming Loan Limits Mean for You?

2019-01-04T10:42:00.003-08:00

The Fed recently decided to raise conforming loan limits, and I’d like to share a few details of this exciting announcement with you today.

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Have you heard the news? Our nation’s conforming loan limits have recently increased. In El Paso County, the limit has risen to $484,350, and in Denver, the limit is now up to $561,200. This is an exciting development, especially given the recent trend of rising home prices. If you have any additional questions about these new limits, I would be happy to connect you with a local lender. The bottom line, though, is that buying a home just got more affordable.