“How Chambers & Consulates Affect International Growth in Colorado”

Speakers Include:

Gil Cisneros
CEO of Chamber of the Americas

Jeffrey Richards
Honorary Consul of France in Colorado

Thursday, May 10, 2012
4:00 pm – 6:00 pm
At the DMAR Central Office
4300 E. Warren Ave., Denver, CO 80222

RSVP: DMAR 303-300-8500

Anyone interested or involved with global business and real estate is welcome to attend our programs.

Mission Statement
Encourage and support global real estate opportunities in Colorado and improve members ability to serve the global real estate market at the local, national and international levels.

Prior to looking for a REALTOR® there are some steps you should try to complete. You will want to be preapproved for your loan which will determine a price range that is based on specific properties, this will allow you to easily move onto the property once you find it. A mortgage broker will be best suited to help you with this process. He or she will keep your information at hand throughout your search updating it periodically giving you the best advantage when you want to put an offer on your home. One more tool that may help you is keeping a list. The list should have all of the things you are looking for in a property including specific details about the home, essential characteristics and the location.

A hard working, dedicated REALTOR® will be ensuring that your needs and interests are coming first. They will be focusing on showing you properties that match all of your criteria. Your REALTOR® will have you sign a contract that states if you purchase a home under the service of your REALTOR® that they will receive credit and a commission. This contract should be read very carefully to make sure you understand everything it says. It is smart to ask any questions you have about the contract to ensure you understand it clearly before you sign it.

To begin your search for a local REALTOR® you should look into calling the local board of REALTORS® or contact any real estate sales company you have a preference to. It is a good idea to meet with the REALTOR® ahead of time, which will allow for you to ask questions to make sure you feel comfortable with that REALTOR® and cover any criteria or details that are important to you. It is possible to use the seller’s REALTOR® but it would most likely be a great advantage to have your own personal REALTOR®. This will ensure you have someone who is tending to your needs on an exclusive basis when it comes to purchasing your new home!

This real estate article was written by Lisa Lambert who writes for Waterfront Properties in Jupiter, Florida. Waterfront Properties specializes in the sale of BallenIsles Real Estate and other Palm Beach Gardens Golf Clubs.

• Meet with a few local lenders – Just because you meet with a lender doesn’t mean you have to apply for a loan with them. Instead, ask plenty of questions, and ask for information about their loan programs and interest rates. Every lender will have different rules, regulations and home loan programs, so take the time to visit your local lenders.
• Find a great buyer’s agent with first-time buyer experience – As a first-time homebuyer, you will likely have many questions about the home buying process, so it’s important to have an experienced buyer’s agent on your side. In particular, take the time to find an agent who has experience working with first-time home buyers and who is prepared to take the time to answer your questions and educate you on the home buying process.
• Find a first-time buyer’s class or start reading up – Many real estate firms have first-time homebuyer classes, so call around and see if there are any classes in your area. In addition, there is also a plethora of information on the shelves of your library and online, so take the time to read up on home buying so you are prepared to begin your journey on the path to homeownership.
• Quiz other homeowners on the advantages and disadvantages of homeownership – Take your home-owning friends and family out for dinner and quiz them on their home buying and homeownership experiences. You can often learn a great deal simply by listening to others’ experiences.
• Determine whether you and your partner are on the same page – If you are purchasing a Denver home with your significant other, make sure you and your partner are on the same page in terms of homeownership. Some of the topics of discussion should include: where you want to live, in what type of home you would like to live, and the budget for a new home.

Author Bio: Richard is the CEO & Broker of VIP Realty, The Premier Firm in Real Estate. Our offices focus on the San Antonio real estate & Alamo Heights real estate markets. To keep up-to-date with the North Texas condo market visit our San Antonio condos page.

Real Estate Broker

Real estate brokers typically have more education and training than real estate agents. Furthermore, brokers must pass an exam that is longer and more difficult than the one required of agents. Due to their extra training and knowledge, brokers can work independently and can hire real estate agents to work for them.

Broker Associate

A broker associate is someone who has completed the schooling and tests necessary to become a broker, but who has chosen work for another real estate broker within a larger real estate network.

REALTOR®

Real estate brokers and real estate agents may choose to become a REALTOR®. While the term is often used interchangeably by laymen, a REALTOR® is actually someone who belongs to the National Association of REALTORS® (NAR). Therefore, a broker or agent cannot use this title unless he or she has agreed to the NAR’s extensive Code of Ethics and has paid the annual dues. If a customer has a problem with a REALTOR®, he or she may file a complaint with the local board.

Listing Agent

Also referred to as a seller’s agent, the listing agent represents the interests of the seller. Therefore, when it comes to negotiating a deal, the listing agent will work to obtain the best deal possible for the person who is selling the property.

Selling Agent

Also referred to as the buyer’s agent or the buying agent, the selling agent represents the interests of the buyer. Some agents work exclusively on the behalf of the buyer, while others work with both buyers and sellers. Typically, these agents do not work with both the buyer and the seller in the same transaction.

Dual Agent

In some cases, an agent will represent both the buyer and the seller. A dual agency may also occur if two separate agents represent the buyer and seller, but both agents work for the same broker. This type of setup is uncommon, however, and is not legal in all 50 states.

Transaction Agent

Rather than representing either the buyer or the seller, the transaction agent does not represent either party. Instead, the transaction agent simply helps to facilitate the transaction.

About The Author – Josh Anderson specializes in Brentwood TN homes for sale as a Realtor with Keller Williams in Nasvhille, TN.

How does this work for sellers?

To determine your home’s fair market value, your agent will analyze data from recently sold properties and currently competing properties. Recently sold means ideally in the last 90 days, but beyond that 6 months is okay. A year is getting a bit long, but if that’s what it takes to find a comparable property, it is still acceptable. The properties need to be similar in size, generally plus or minus 200 square feet. They also need to be similar in location. Same subdivision is best, beyond that move to the broader neighborhood, beyond that, the larger community.

Your agent should have a good handle on which areas go together and which do not, i.e. a pocket of larger homes on gated street are not comparable to several smaller houses surrounding them. Lastly, the homes need to have similar amenities. Even if a house is the same size and location, but one is a custom home and the other a production builder home, they are not exactly comparable. The custom home will have one-of-a-kind features, and the production home will have the same floorplan and be finished alike several other homes on the street.

Once they have found a selection of properties that are comparable, they will divide the sold price by the square footage of the home to come up with a price per square foot. Based on this number and the square footage of your home, it is pretty easy to come up with a general price range. The variation within that range now is based solely on your property’s condition and appeal.

In economics class, we learn that the value of something is what someone is willing to pay for it. A clear example of this is the sold values. Anybody can price their home at any number they want. But, when you use sold comps to determine your price, you are using the best guide, namely what someone has been willing to pay. There are always slight exceptions to this as no two houses are exactly the same. If none of the sold comps have pools but yours does, of course yours is worth more. Not usually the cost of the pool more, but more. Similarly, if yours does not have a pool and all the comps do, it is worth less.

If the person who wants to buy your house will be doing so with a loan, i.e. they are not paying cash, their lender will hire an appraiser to determine a fair value for the property. If your home is priced much higher than the sold comparables, you could have trouble with the appraisal not coming in that high, in which case, the lender will not underwrite the loan and your deal will fall apart. Also, in this day and age, consumers are pretty savvy and have access to data via the internet, so they will have a general idea of what others have paid. So, when setting a price for your home, the best thing to do is work within the numbers of the sold comparables.

How does this affect buyers?

When you are looking for a home, based on your criteria, most of the homes will likely fall within the same price range. But, even if they are in the same price range, you will need to note what the price per square foot is. Your agent will run a CMA and determine how the homes are priced in relation to what has sold recently and what else is on the market.

Though the final decision is up to you, paying a price for a home that is much beyond sold data is risky for two reasons. First, the property may not appraise. This isn’t an issue if you’re paying cash, but will be if you need to obtain financing. Second, if for some reason you would need to sell in the next couple years, you could find yourself in a situation where you may be upside down, i.e. the cost of selling the home (commission and closing costs) is greater than the proceeds you would net from the sale, meaning you would have to bring money to the closing rather than leave with a nice check. For these reasons, it is a good idea to make sure and do your homework.

About The Author: Kimberley Kelly is a La Quinta Real Estate specialist with more than 11 years of experience helping home buyers and sellers with their Palm Springs real estate  transactions. For more information on Kimberley, please visit her Palm Desert Real Estate website.

As a Calgary Real Estate Agent I know that when it comes to selling your home you will want to get it noticed by potential buyers, one of the most important steps you can take is to increase what industry expert refer to as a home’s “curb appeal.” By increasing the curb appeal of your property, your home will be more attractive to potential buyers. In turn, these potential buyers will be more likely to contact a Realtor to learn more about your home. The good news is that increasing a home’s curb appeal is easier than you might think. Here’s a look at 5 easy steps for increasing your home’s curb appeal and getting your home sold.

Step #1: Keep Your Lawn Mowed

A well-maintained lawn is attractive to most buyers, so make sure your lawn is kept short and that any bare spots have been repaired. If necessary, re-sod or re-seed parts of the lawn that are not up to par.

Step #2: Keep the Landscaping Manicured

Even if your landscaping is minimal, be sure to keep it well-manicured in order to increase your curb appeal. If you have bushes, for example, they should be properly trimmed without any branches touching your house. Also, keep in mind that a little fresh mulch can go a long way toward brightening up your yard and increasing its curb appeal.

Step #3: Clean Up Clutter

Having a cluttered lawn when trying to sell a home will be a major turn-off to potential buyers. Of course, if you have children, keeping your lawn free of clutter can be even more difficult. Still, you need to be diligent about making sure there are no toys or other items lying in your lawn. Check regularly for trash that may have been tossed into your yard, for fallen branches and for any other clutter in your yard.

Step #4: Wash the Outside of the Home

Depending on the exterior condition of your home, you may not have to do too much to make it appealing to buyers. If it is in poor condition, you may have to make repairs, to paint the exterior or to replace siding. If it is in good condition, however, you can simply power wash the exterior to make it clean and attractive.

Step #5: Add Flowers

Adding flowers is a great way to liven up your yard while also making it appear more attractive and better maintained. The good news is that you don’t have to plant flowers in your yard in order to achieve this look. Simply adding a few hanging pots or attractive patio pots with annuals will go a long way while increasing curb appeal – and you can even take the pots and flowers with you when you move!

About the author: Crystal Tost has been a residential Calgary real estate agent for over 15 years. For more information on current properties for sale view MLS® Calgary

Consideration #1: Location

Everyone knows that whether discussing Denver real estate or Austin real estate or elsewhere, the number one rule is location, location, location. Clearly, the same is true when it comes to equestrian properties. When considering the location of an equestrian property, you need to think about all the ways you plan to enjoy your horse. If you want to take your horse out for trail rides, for example, you may want to look for a property that is located near to horse-friendly parks. If you plan to show your horse, on the other hand, you will need to be sure to select a location near a good road system that will allow for easy transport.

Consideration #2: Land Size

Many horse owners dream of having enough land to ride their horses on their own property or to build a riding stable. Even if you aren’t looking for enough land for these purposes, a general rule of thumb is to have at least 1.5 acres for your horse. If you plan to have more than one horse, you should purchase an additional acre for each additional horse. This way, your horses will have plenty of space to roam and to graze.

Consideration #3: Land Quality

In addition to land quantity, you also need to consider land quality. Keep in mind that neglected land can be quite difficult to revive, so look for land with a good pasture for your horse to enjoy. When considering the quality of the land, be sure to also think about water quality and accessibility. Horses drink plenty of water, so you want to be sure the water you need will be easy to locate and to provide to your horse.

Consideration #4: Buildings

If you don’t want to have to pay extra money toward constructing stables and other buildings, you may want to narrow your choices down to only those properties with buildings that are in good condition. Remember, stables and other outdoor structures that are in poor shape can be quite costly to renovate. Therefore, you need to seriously consider how much more you are willing to invest in the property if it does not have the necessary structures or if the structures are in need of repair. Before you start visiting properties, it is a good idea to create a list of those features you are looking for in the property.

Consideration #5: Cost

Clearly, you will need to have a budget in mind when looking for an equestrian property. Again, when considering how much you are willing to invest in the purchase, be sure to consider the purchase price as well as any additional costs that may be necessary to get the property up to standards.

About The Author – Eric Bramlett is co-owner and broker of One Source Realty, a boutique Downtown Austin real estate firm, and specializes in Steiner Ranch.

We think this will be one of our BEST programs, so don’t miss it!

When:
August 16, 2011 from 4:00-6:00 pm

Where:
Denver Board of REALTORS® Office
4300 E. Warren Ave.
Denver, CO 80222

RSVP: jwolff@denverrealtors.org or 303-300-8483.