LOCATION AND CONDITION ARE NOT WHAT SELLS A HOUSE!

February 7, 2014 by

LOCATION AND CONDITION ARE NOT WHAT SELLS A HOUSE!

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I recently read a real estate article that claimed price was the only thing that matters in selling a home. The author later said,” You’ve heard the old saying – “Location, location, location: Then she said…”The real truth is “Location, condition, and price.”

Well, she got one of them right. There are 3 things that sell a home. Location is NOT one of them. Neither is the condition. Now, before you start yelling at your computer that I am an idiot… Please bear with me and I will show you I am right. And once you realize I am right, it will help you help your sellers get the maximum money for their home, in the least amount of time. And finally, I will show you how to get a needed price reduction.
So, let me repeat myself. There are THREE things that sell a house. Just three. Each of them equally important.
Yes, price is one of them. However, from here I will rebuff a few other things I have heard are selling factors.
Location: Location only helps or hinders the price you will get for the home. It’s not like you can tell your sellers, “Well, if we move the house to the Country Club, you can get a lot more!” The property is where it is. You cant move it. So the location affects the price, and that is all. Here is the proof location is irrelevent. If your new listing is right next to the freeway. And right next to the fire department. And a half mile from the refinery. I think we can all agree that it’s not a great location. We can also agree it won’t fetch as much money as the same house in a “great area”. However, it WILL sell. Lets use the ridiculous figure of ONE DOLLAR. Do you think you could get someone to buy that house, in that location for a buck? I’d say yes. In fact, you’d probably get multiple offers. How about $100? Or $1000? Keep going up. Eventually you will hit an asking price that the buyer pool is only a few people. THAT is the value. Your job as an agent is to know your market well enough to deduce the housing need in your area and figure out what the price will be. In THAT location.
The next misnomer is the condition. Actually, all the same rules for location apply to condition. Let’s say your new listing is right next to the freeway, right next to the fire department, a half mile from the refinery, needs a new roof, new kitchen, new baths and has $5000 in termite damage. Do you think you could sell it for a dollar? Of course you could! How about a $1000?
You get the idea. Again, it’s your job to figure out how much it will sell for.
So, can we throw out location and condition as one of the factors that sells a house? Can we just agree that location and condition get you more money or less money, but they are NOT what sells the house. Once you get a firm grasp on that concept, it will become easier for you to make your sellers understand that they can’t get as much for their home as they can in the Country Club. They can expect to get more money if they fix and paint and clean. But if they don’t, you’ll sell it in whatever condition it is in.
Ok. If it’s not location and condition, What DOES sell the house? What are the three things?
They are Price, Terms and Exposure. And it’s ONLY Price, Terms and Exposure.
Let me show you how and why that is the truth.
Terms are very important. Many agents never explore the possibility of terms offered by the seller. They can range from the seller carrying the 1st trust deed. Or carrying a small second. What about the Seller carrying a 10% second? 80-10-10s are still available. This can help a Buyer avoid PMI and drop their payment a few hundred dollars per month. In dropping that weight, they can afford to pay the Seller a few more dollars for the house, and the Seller gets a monthly income for a while. Plus, the Seller might avoid some capital gains tax by disbursing it over a few years. Something to think about. Meanwhile, there are LOTS of other terms that don’t include carrying a note. In a hot market you can ask for a rent back. Or a FREE rent back for several months. I even had a Seller make the buyers keep their dog! They couldn’t take the dog to the new house, and they wanted the dog to feel safe. The buyers agreed, and the sale went through. The Sellers could have gotten more money and dumped the dog. But they got a price they could live with, and the terms they wanted. So, it’s not always price. It’s price and terms.
 
Exposure. Lets say you have the hottest listing in town. Everyone wants this home! It’s priced super cheap. Motivated Seller! All the good stuff. But here is a question…. How quickly will it sell if no one knows its for sale? Yes, that sounds stupid. Of course you will tell people. But when you are trying to sell a tough listing, or any listing really, you need to expose the property to a large buyer pool, so the property can get as much interest as possible. So we advertise promote and expose the property to the market.
The final segment is how you can make this all work for you. (And ultimately for your Sellers) No one likes to take a listing that sits and sits and doesn’t sell. After an appropriate amount of time, you sit down with the Seller and go over the 3 things… Again, you MUST believe in the 3 things or this will not work. First, explain to the Seller the 3 things. Price, Terms and Exposure and the role they play. Once you have explained all 3 things, go back and discuss terms. Verify they cannot offer any special terms. Next, show them ALL the things you’ve done to expose the property. For Sale Sign. Open Houses. MLS. Broker Tour. Internet ads. Craigs List… What ever you have done. And get them to agree that the world knows your house is for sale. Once you have covered those 2 points, remind them there are ONLY 3 things that sell a house. They can’t do any special terms? No. And the world knows your house is for sale. Yes.
So the only thing left is… AND YOU LET THEM SAY…. Price.
At this point in the conversation one of two things will happen. 1) They will begin to tell you some great feature of their home. Or how the neighbors told them they could get more money. Or this area has the best schools. Or SOMETHING. This only means they did not absorb what you said about the 3 things, or they don’t believe you did enough to expose it.. Start over. They MUST believe there are only 3 things. If you don’t get a price reduction, the Seller convinced YOU that you were wrong.
2) The other thing that will happen after your explanation is the Seller will see your logic. They will see that you have done all you can to sell the house at the asking price, and will make the smart move and lower the price!

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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FSBO: BUYER’S BEWARE

February 6, 2014 by

FSBO: BUYER’S BEWARE

If you're considering the purchase of a FSBO, proceed with caution!If you’re considering the purchase of a FSBO, proceed with caution!

Seller May Not Disclose What Should Be Disclosed

When a house is listed for sale by a real estate broker, the seller is required to fill out a Seller’s Preoprty Disclosure.  There are a few exemptions to this requirement; New construction, condominium units, multi-family dwellings (5+ units), vacant land, transfer due to court order( i.e., estate, bankruptcy, eminent domain, divorce decree), and HUD properties.  The seller fills out this document to the best of their knowledge and must “disclose” any problems that they are aware of in their home.  When a buyer purchases a home that is multiple listed, they will acknowledge their receipt and review of the PCDS (by initialing each page depending on which version of the form is being used) and signing the final page.

A FSBO is not required to fill out a PCDS.  In addition, a FSBO may unintentionally (or intentionally, Caveat Emptor, meaning “Let the buyer beware”) not disclose an issue with their home or may not be aware of the items that they should disclose to a potential buyer.

Contract Time Limits Maybe Too Strict or Too Loose

A purchase and sale contract has many time-frames, deadlines, and contingencies that should be written in to protect a buyer.  A buyer’s agent, who knows the contract well, will know how to structure the dates for specific situations and circumstances.

An experienced buyer's agent will properly structure deadlines and time-frames.

Whether it’s giving enough time to get the inspection(s) completed, getting their clients mortgage commitment, life of the offer, or writing a contingency for the sale and transfer of title of their existing home, an experienced agent should correctly structure the contract to ensure the sale gets done.  Some buyers utilize an attorney to draw the purchase and sale contract to send to the FSBO and unfortunately they may not have the experience with correctly structuring the contract dates, potentially due to them not having the total picture.  Without the buyer having proper Realtor representation a savvy “seller” could take advantage of a situation that may be in their best interest and not the buyers.  An example of this is “Offer Shopping.”  This is when the contract’s life is too long and the FSBO has the opportunity to sit on an offer and see if something better will come along.  This can be heartbreaking to a buyer.

Seller May Not Cooperate With Reasonable Repairs

When purchasing a home, a FSBO or not, we normally recommend hiring a reputable home inspector to have the home inspected.  Even if the home you’re considering to purchase looks “perfect” and that nothing could be wrong, having an inspection can give you additional “Peace of Mind.”  

Whether purchasing a FSBO or not, you should consider having a home inspection!

A home inspector is going to find items in every home that may not be up to current code.  One of the most important reasons to have a real agent representing you when purchasing a home is to negotiate the removal of contingency for any inspection(s) done.  Many real estate deals fall thru due to a buyer and seller not being able to agree to items discovered from the inspection.  This can happen because a buyer is being unreasonable with what they’re asking of the seller or the seller on the other hand, is not being cooperative with addressing reasonable repairs.  An experienced sellers agent should know what would be considered reasonable and what would be considered “Nit-Picking.”  Since the FSBO doesn’t have an agent representing them, they often resist when it comes to any reasonable repairs.

Seller Asking For An Unrealistic Amount For Their Home

You’re thinking of purchasing a FSBO because you’re getting a better deal, right?  This is the common thought process of buyers looking at a FSBO.  It can actually be the complete opposite.  Whether the seller had an agent complete a comparable market analysis and they didn’t like what they heard OR they want to save the brokerage fee, FSBOs are commonly overpriced by 10-25%.

A FSBO can be overpriced by 10-25% or MORE!
A FSBO can be overpriced by 10-25% or MORE!

If you don’t have a real estate agent representing you, how do you know if you’re overpaying?  A buyers agent will look at comparable sales in the area that you’re looking to purchase in and be able to explain to you what similar homes have been selling for and why.

You Maybe Responsible For Additional Costs Than If You Purchased A Non-“FSBO”

Generally, there are costs that the buyer should be responsible for when purchasing a home BUT also costs that the seller should be responsible for when selling.  A buyer typically would be responsible for the cost of an inspection (Home, Pest, Radon, Etc.) and the cost of their mortgage application.  People can also visit my site, for best pest control services, just make sure you know which pest you are dealing with, for example some people may need mice control while others may need carpenter ant control. A seller typically is responsible for an inspection ensuring that something is in good, safe, working order.  For example, if a home that is on a septic system, a real estate agent representing the buyer should write a contingency for a septic inspection at the sellers cost to ensure that the buyer is not purchasing a system that may have defects and request that the results be put in writing.  This may also pertain to a well water (potability) test.  A FSBO often times is not willing to pay for any inspections and could attempt to make it 100% the buyers responsibility. Read more here

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

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Home permits soar

February 5, 2014 by

 Home permits soar

This 5-bedroom, 4-bath home with 3,160 square feet in Golden is priced at $595,000.

 

Denver-area home builders churned our new homes as fast as they could in 2013, but it wasn’t enough to meet demand.

Last year, builders pulled permits for 6,671 single-family detached homes, a 23.4 percent jump from the 5,407 in 2012, according to a report released Wednesday by the Home Builders Association of Metro Denver.

Builders also pulled 1,278 permits for townhomes, a 39.2 percent increase from the 918 in 2012.

“Together, we saw about a 30 percent increase,” said Jeff Whiton, CEO of the HBA of Metro Denver. The report includes the counties of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Elbert and Jefferson, as well as all of the communities in each county. Permits indicate future construction activity.

Last year, builders didn’t have enough subdivisions with lots ready to build on to meet the demand, Whiton said.

“We ran through our existing supply of finished lots pretty early last year and builders just couldn’t get enough new ones on line quick enough to meet demand from consumers,” Whiton said.

“I really think that was the major headwind on our industry last year,” Whiton said.

With fewer resale homes on the market than a year ago, builders probably won’t be able to build new homes fast enough to fill the void, he said.

“It doesn’t look like it,” Whiton said.

However, he said he still expects a similar percentage jump in activity in 2014 from 2013, as there was last year from 2012.

In addition to a shortage of lots, the home building industry is suffering from a shortage of workers.

“That is a long-term problem,” Whiton said. “Being a craftsman is a noble trade. We need to convince our up-and-coming generation that being an electrician or being a plumber or being a carpenter is a good thing. Over time, these trades traditionally pay very well.” Another long-term issue builders will continue to grapple with will be rising commodity prices such as lumber, drywall and concrete.

However, builders increasingly are finding cost-effective ways to build more energy-efficient and sustainable houses, which will lower utility costs for consumers while being better for the environment, he said.

“I think you would find that there is a green revolution going on with construction techniques,” Whiton said. “A home built 10 years ago probably had a HERS score of 130, while now it is probably 65.” The lower the HERS score, the more energy-efficient the house is.

Many consumers appear to prefer a new, energy-efficient home over an older resale home that uses more electricity and gas, Whiton said.

 

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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Seattle tops Denver in another way

February 4, 2014 by

Seattle tops Denver in another way

Denver-based Zocalo Community Development plans the 150-unit, Gold LEED-certified Grove at Stapleton, I t is for residents 55 years or older.

Denver-based Zocalo Community Development plans the 150-unit, Gold LEED-certified Grove at Stapleton, It is for residents 55 years or older and is being designed by Kephart.

Not only did Seattle crush Denver in the Super Bowl, but a national report released on Monday found the Emerald City bested the Mile High City by another measure: green apartments.

An analysis by the Atlanta-based Apartment Guide, which has helped millions of people find apartments since it was founded in 1975, ranked Seattle No. 1 in its Top Metros for Green-Friendly Apartments report. The report includes new and existing apartment communities.

This time, Denver wasn’t second best, coming in ninth place on a top 10 list. Omaha, which recently has enjoyed a newfound cachet thanks to Peyton Manning, was ranked fifth.

“There are more apartment listings in Seattle that are considered “green communities” with offerings/certification such as LEED certification, energy-efficient windows, lighting and plumbing and drought-resistant landscaping to reduce water waste than in Denver,” said New York-based Lauryn Gilroy, who acted as spokeswoman for the company.

A survey of more than 200,000 renters released last November by the National Multi Housing Council found that 71 percent of the respondents had some interest in green practices and principles. Thirty-five percent of residents expressed a preference for both green principles and green practices to be adopted, while 23 percent required green practices and 14 percent required green design.

One developer at the time said apartment residents increasingly are expecting green features, as a way to save money, but they do not necessarily want to pay more for energy-saving  amenities.

Apartment Guide offered some consumer tips on saving energy:

  • Turn down the thermostat when you leave. By turning down a thermostat 10 to 15 degrees for eight hours, you can save up 15 percent, according to federal government estimates.
  • Check the weather-stripping around the doors and window. If it looks worn, contact your property manager of landlord. Also consider buying or making draft stoppers.
  • Consider installing insulated curtains and adding heavy area rugs to keep heat in your apartment. Insulated curtains keep warm air in during the cold season and hot air out during the warm season, reducing heat and cooling costs year round.
  • Caulk and seal area between the plumbing pipes and the wall and put insulation around the pipes.
  • Make sure the manager is cleaning and replacing furnace filters to maximize efficiency and possibly reduce the risk of a fire.
  • Prevent frost from forming on windows by running a dehumidifier at night. Air will become less moist, which will keep the frost from forming on your windows.

It also suggested some apps for a green lifestyle, including:

  •  iRecycle – provides access to more than 1.5 million ways to recycle plus the latest in green news and ideas to match your lifestyle.
  • Goodguide – makes it fast and easy to find safe, healthy and green products both in a store or on the go.
  • FindGreen – helps you find local businesses and resources to live a sustainable lifestyle.

Meanwhile, Gilroy offered some solace to the Seattle Seahawks 43-8 trouncing of the Denver Broncos at Sunday’s Super Bowl.

Read more here

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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HOA’S IN COLORADO ARE FINALLY REGULATED!

February 3, 2014 by

HOA’S IN COLORADO ARE FINALLY REGULATED!

 

tips for buying in an hoa in denver coloradoGood news if you live in an HOA – they are finally REGULATED!!! The Colorado Division of Real estate has launched the HOA Information Office and Resource Center to oversee HOA’s and help protect the rights of homeowners. It’s part of the  Colorado Common Interest Ownership Act.

(1) HOA Forums – You can present Issues With Your HOA

(2) HOA Managers Now Must Be Licensed in Colorado  – Community association mangers, management companies CEOs, and executives of management companies will need to be licensed starting July 2015.

(3) HOA Must Register Annually & File Annual Reports

(4) File HOA Complaints – now you can file complaint against your Colorado HOA. Here is the complaint form.

Boulder HOA’s

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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The Best Places to Watch the Super Bowl inBoulder

February 2, 2014 by

The Best Places to Watch the Super Bowl inBoulder

superbowl boulder 2014

Yes, the two states that legalized weed have made it to Super Bowl XLVIII. On February 2nd, the Denver Broncos and the Seattle Seahawks will finally face off. And even though we know who’s going to win, that doesn’t mean we can’t enjoy the game with some big-screen TV’s, good food, and craft beer, right? If your thinking about leaving the couch at home and going out for the Big Game, make sure to check out some of the local Boulder hotspots below.

FATE Brewing Company

Only one year old and already named the best new restaurant in Boulder in a recent Daily Camera poll, FATE is a shoe-in for one of the best spots to enjoy the Big Game. Experience ความเป็นเลิศในการบริการลูกค้าของ ยูฟ่าเบท and play with peace of mind. They have 10 TVs in the dining area and bar so you’ll be sure to catch all of the action no matter where you sit. For food they’ll be featuring two competing burgers specifically made to represent each of the competing teams. They will also have Happy Hour prices all day for draft beer and well drinks. Also, if you happen to be a lost Seahawks fan wandering around Boulder constantly looking over your shoulder, you’ll be happy to hear that this will probably be the only Seahawk-friendly place to go here in town since the owner is from the Seattle area. I can’t vouch for your safety with the locals though. For more information, visit the FATE Brewing Company website.

West Flanders Brewing Company

Did you hear about the epic rivalry they have going on with Seattle’s Elysian Brewing Company? Let’s just say that’s not the only exciting thing they have going on during the Super Bowl. They’ll be serving their special Orange in Brew Championship Ale and will have Happy Hour prices from 4PM to close. So grab a seat, watch from any of their six big screen TV’s, and enjoy drinking the beer all of Seattle will be tasting come monday. See their Super Bowl menu for more information and prices.

Shine Restaurant and Gathering Place

Don’t let the fresh-pressed juices and organic food fool you – this place is throwing it down caveman style on Sunday. They’re hosting an all out Paleo party that comes complete with a kitchen full of chicken wings, tacos, sliders, sweet potato fries, veggies, fruits, nuts, and everything else you can eat with your hands. So eat like crazy, watch the game, and wash it all down with one of their famous potions to forget about all of the calories you just consumed. Visit Shine’s websitefor more information.

Twisted Pine Brewing Company

Twisted Pine’s great beer is well known here in Boulder. And for the big game, they’re going to let you have it a little cheaper. Stop by to enjoy $10 pitchers of their famous draft beers and $2.50 Bloody Billys, a spicy red beer. They have six TV’s throughout the bar and dining area so you’re sure to get a good view of Peyton Manning throwing it down field. Visit Twisted Pine’s website for more info.

Lazy Dog Sports Bar and Grill

If you want to drown in flat screen TV’s everywhere you look on Sunday, then this is your place. Located right in the heart of the Pearl Street Mall, Lazy Dog will have the game on and the beer flowing. Though they don’t have any specific specials for the Big Game, Happy Hour will still be in full effect and they’ll be hosting a chicken wing eating contest during halftime. Good luck!

Conor O’Neill’s

If you want to watch the Super Bowl and feel like it’s St. Patricks day at the same time, then make sure to check out Conor O’Neill’s. They have four big-screen TV’s and will have Happy Hour from 4-7PM. To sweeten the pot even more, every time the Broncos score you can get a $4 Jameson shot or an orange and blue Bronco Bomb. They’re located right off of the Pearl Street Mall on 13th street.

Dickens Tavern

Just outside of Boulder, Dickens Tavern in Longmont is hosting a charity event for their Super Bowl party. They have a $20 entry fee, but it comes complete with fully stocked Appetizer buffet filled with chicken wings, nachos, quesadillas, meatballs and Happy Hour drink prices during the game. Though they only have one TV, it’s a huge 30-foot movie screen that will make you see all of the child-like fear on the Seahawks player’s faces. They only have 300 spots available so if you’re thinking about going, make sure to call ahead and reserve your spot. All of the proceeds goes to support the local Pro Swing Softball team.

The Connection at CU

If you’re a CU student and you still don’t know where to go, try stopping by The Connection on campus for their Soup ‘R Bowl party. They have big-screen TV’s and free soup, snacks, and drinks for all those who attend. The party starts at 2PM so come early and make sure to bring your student ID. Visit their event page for more information.

No matter where you choose to watch the game, just remember to drive safe and drink responsibly.

By  YourBoulder

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

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WHAT A DIFFERENCE INTEREST RATES MAKE

February 1, 2014 by

WHAT A DIFFERENCE INTEREST RATES MAKE

 

Impact of Rates on Payment

It is important to consider not only the price of thehome but also the cost of financing. The higher themortgage interest rate, the less house you can afford. The lower the interest rate, the more house you can afford.  The chart below shows what happens to your mortgage payment at various interest rates. REMEMBER THERE ARE STILL TAXES AND HOA PAYMENTS TO CONSIDER.

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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MOVING WITH YOUNG CHILDREN

January 31, 2014 by

MOVING WITH YOUNG CHILDREN

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Are you happy and excited about selling your home? Or are you dreading the sorting, packing and other chores?

Your attitude is contagious to little children. If you look at moving as an exciting adventure full of fun, new possibilities, then you’re halfway to getting your children on board for the ride.

Most children don’t like the changes associated with moving, so it’s your job to get them looking forward to it. The younger the child, the less able they are to “see into the future” as you do. They tend to focus on missing friends and family.

Acknowledge and empathize with the loss they feel and show them how to balance their feelings with what they have to gain.

1. Communicate with your child patiently and frequently. Let your children know, step by step, what is happening and what is likely to happen next. Tell them what the move means to the family — how important it is that Mommy got a big promotion or that Daddy is opening a new office for his company and putting people to work.

2. List all the advantages there are for the child in the move. For example, will the family be closer to Grandma, or another favorite person? Will they be closer to the ocean, a park or other favorite place? If you promise they’ll be able to see old friendsand family frequently, be sure to keep your promise. Children are like elephants – they never forget.

3. Show your kids as many pictures of their new home, neighborhood and city as possible. When you show your child their room, make a game of it. Draw a room plan and let your child draw and cut out images of furniture and toys to move around.

4. Introduce your child to the new community online. Draw a map or print one out and show how close Mommy and Daddy work, where schools are, where Aunt Bea lives, and other points of interest to help them orient themselves in their new surroundings.

5. Be ready for those “What about me?” questions. If your child is in scouts, little league, or other organizations, contact those associations for referrals in your new neighborhood or city. Knowing they won’t have to give up favorite hobbies or sports goes a long way toward helping children adjust.

6. Let your child participate. Make a fun activity out of researching services you’ll need online, like finding a veterinarian for your dog. Older children can find blogs online about their new school.

7. Keep your child occupied by letting them plan what to pack and what to take in the car or plane on the way to their new home. Pack a box or two of their special things and make sure it arrives at your new home before you and the kids arrive so they won’t have to wait for their favorite things until everything’s unpacked.

8. Encourage them to take the time to exchange good-byes with friends and loved ones and get addresses, e-mail addresses, and phone numbers to stay in touch. If they’re old enough to write, let them start making notes about the moving experience so they can put their thoughts into letters later.

9. Try to stick to normal routines as much as possible. Let your children know that, although they will soon live in a new house, the rules of the household will still be the same. Bedtime is still at 9 p.m., and homework must still be completed before TV or video games.

10. Make sure they know that although Mom and Dad are a little busier and distracted with the move, they love their children very much and are giving the entire household a new opportunity to grow. Your preparations will go a long way in reassuring your children that their needs are being considered, even while big changes are happening around them.

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

Boulder homes for sale

 

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BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

January 30, 2014 by

BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

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For some, timing can be one of the biggest obstacles in making responsible financial decisions. No market holds this rule more firmly than real estate. Often, the ideal time for purchasing a new home and striking out on our own, whether alone or with a family in tow, can happen at a time in which one’s finances are in a less-than-ideal order. This causes many upstart families to settle for housing in low-rent apartments or in sketchier neighborhoods which quickly fall below their standards of living once they achieve financial footing. Being stuck with a lease in such a living environment can be a dismal situation.

 

Financing a home on a tight budget can be an enormous challenge, but a savvy buyer can find ways to make ends meet even if they aren’t exactly equipped to handle the financial burden from the start. Here are just a few options to consider when financing real estate when your cash flow isn’t yet ready for it.

Qualifying low interest loans

Depending on your individual circumstances, you might find that you are eligible for financing options that most buyers aren’t able to access. Holding a veteran status, or being a dependent of a veteran, can leave extremely low interest options available to you. With virtually no ceiling on how much you can borrow to finance your home, this can be the very best option for veterans.

However, even non-veterans can enjoy exceptional, special low-interest loans depending on where they search. Many homeowners in densely populated Native American centers have enjoyed the benefits of HUD 184. This program was designed by the government in 1992 to provide Native Americans opportunities since mortgage lending has been scarce in tribal regions. In addition to being one of the best financial options in these areas, it also helps keep tribal property within tribes in the event of a foreclosure.

It’s always worth doing your research to see if you’re in a position to qualify for special financing options before seeking out general options. Since most of these special options involve government support, loaners are often more available to provide more generous terms. However, if you don’t qualify for these programs, there are loan options available to just about anyone that might be preferable depending on your circumstances.

Traditional loan options

Fixed-rate mortgages are a generic solution that can be relied on, but it can be difficult to qualify if you have a middling to poor credit rating. This can be even more difficult if you’re attempting to acquire a jumbo loan, or a loan which surpasses predetermined loan limits. These loans can make the momentous interest on barely qualifying loans even worse.

When qualifying for these loans becomes difficult, loans provided by the Federal Housing Administration can be a vastly better route. An FHA loan also includes a far smaller down payment – as low as just three percent – which makes it better for families in dire financial straits in need of a home. While this can result in longer term payments and comes with a much shorter loan ceiling, it’s an effective option for lower to middle income households who are seeking standard urban or suburban housing.

These options are just a few that households can consider in tough economic times without having to compromise on their vision for what their standard of living should be. Signing a lease is a huge financial responsibility, so assaying your options and settling for satisfactory housing should be one of your very highest financial priorities.

Boulder Real Estate

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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WHAT ARE BUYERS LOOKING FOR?

January 29, 2014 by

WHAT ARE BUYERS LOOKING FOR?

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Looking forward to the New Year, there are some trends that will appeal to homebuyers. Here are just a few things to look for as we move into 2014:The Home Office. More and more people areworking from home – a great relief for the nation’s carbon footprint. With technological innovation on the rise, there is a decreased need to “go into the office.” The practice of calling into meetings via phone and video is seeing a rapid increase. So today’s home office must incorporate plenty of electrical power and wireless access.

The Casual Media Room. Gone is the era of the enormous home theater. These days, families like to hunker down in cozier conditions. Smaller rooms with large, pull-down screens are more flexible than a dedicated theater. And for families with teenagers? It may be time to create a teenage lounge with multimedia capabilities. Many parents like to have “teenage space” at home in order to keep an eye on their kids’ activities.

Main Floor Master Suite. Yes, these have been popular for a while, but with a population that’s growing older, a main floor master is more attractive than ever. Roomy, accessible shower stalls are a modern alternative to the traditional combination shower and bath.

Energy Efficiency. This is a concept that has been around for decades, but is now, deservedly, gaining more and more attention. Remember those 1970’s half-hearted solar roof panels? They were a great start, but they’re now being replaced by energy-efficient appliances, sustainable materials, and cost-effective heating systems. It’s recommended you read up on the latest advancements to truly appreciate how far we’ve come.

Technology. Music aficionados have never had it better. Long gone are the days of bulky sound systems. Connectivity is the name of the game, from surround sound to whole-house sound solutions with discreet speakers that blend into the decor.

Storage. From bathroom linen closets to walk-in kitchen pantries, the modern homeowner is looking for plenty of storage. And why not? With the preponderance of bulk stores, it’s easier to then ever to get a good deal on large amounts of items at low cost – but there needs to be somewhere to store all those great deals.

The Great Outdoors. When it comes to “getting away from it all,” families are increasingly turning to their own back yards. In today’s busy workplace, not only do Americans take less time for genuine vacations, but they don’t tend to go far away if there is comfortable nearby space for a “staycation.” Outdoor living space – from patios to swimming pools to outdoor kitchens – has never been more popular.

Convenience. Homeowners have always looked for most sleek and convenient solutions, and today’s homes incorporate easy-to-use appliances and systems that can be accessed remotely by smart phones and tablets. Forgot to turn down the heat before you left on vacation? No worries. Now you can do it on your way to the airport with just a touch of the button.

Although there are always new trends to consider in real estate, every house has its charm and there will never be a “one-size-fits-all” home. That’s one of the most rewarding aspects of being a real estate agent – matching each homebuyer to a perfect home.

Boulder Colorado homes for sale

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

new bh4u logo

 

Boulder Colorado homes

Filed Under: Real Estate Topics Tagged With: , , , ,
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