Archive for Real Estate Advice
Stage Your Home First
TeamCox Realtors is pleased to introduce, Lynn Bruskivage, of LGA Home Solutions, LLC. Lynn will be an ocassional guest blogger for us, focusing on issues related to getting your Denver home ready to go on the market.
Stage Your Home First
Don’t waste valuable days letting your home sit on the market without “staging” your home first. Most real estate professionals recommend staging your home for resale. Staged homes spend 83% less time on the market, according to the Association of Staging Professionals (ASP). Data collected from the last two quarters of 2009 showed that a staged home averaged 37 days on the market compared to 212 days on the market for a non-staged home.
First impressions are important and that is why staging works! By presenting your home in its best possible condition, you “set the stage” for your home to be sold quickly. This is accomplished through room editing, furniture arranging, and organization. Some refer to Staging as Interior Re-Design. This process will make a home more desirable to potential homebuyers, as well as lead to a quick sale at a higher price point.
It is a pleasant surprise to most that for a small investment, the return can prove quite substantial! The National Association of Realtors (NAR) shows that the average staging investment of 1-3% of the home’s asking price can generate a return of 8-10%! That is an average return on investment of around 340%!
Please visit our website @ www.lgahomesolutions.com to see what we can do for you.
Our services include:
• Staging & Staging Consultation
• Room/Home Makeovers & Decorating
• Professional Organization
• Move-in Services
…and more!
During the month of August we are offering a 10% discount on all services!
As always we offer a:
• 10% discount for senior citizens & military
• $100 first time discount on initial consultation for realtors
Call us today and let us transform your home! 303-929-1790
Lynn Bruskivage, Owner
LGA Home Solutions, LLC
303-929-1790
lynn@lgahomesolutions.com
www.lgahomesolutions.com
member of the Colorado Association of Staging Professionals CASP / HSE Certified
If you have questions about getting your Denver-area home to sell, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Why Should You Buy a Denver Home After the Homebuyer Tax Credit Expired?
We’ve been asked numerous times over the past month: “Why should I purchase a home now when the tax credit expired at the end of April?”
The answer is simple. Interest rates have fallen dramatically since April 30th. The following example illustrates how interest rates can dramatically increase your buying power. Think about it in terms of a $250,000 loan. The average interest rate in April was 5.34 percent, meaning that the principal and interest every month on a 30-year fixed loan would be $1394.48 and cost $471,111 over the life of the loan. The average interest rate is currently around 4.78 percent, meaning that the average principal and interest payment on the same loan would be $1308.64 per month and cost $502,012 over the life of the loan.
By purchasing the same home right now versus in April, you would save $86 per month and close to $31,000 over the life over the loan. Since the homebuyer tax credits ranged from $6,500-$8,000, it is obvious that a lower interest rate will save you much more money in the long-run.
Since there was a mad dash in April to purchase a home by the April 30th deadline, there is less competition out there right now, meaning that you have more homes to choose from and you have more negotiating power.
If you are a Denver homebuyer, don’t miss your opportunity to take advantage of these once-in-a-lifetime interest rates. For Denver mortgage lender recommendations, or for information on the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Extended Deadline for Military Personnel to Use Homebuyer Tax Credits!
As the deadline looms to purchase a home under the homebuyer tax credit, there is good news for military families! There is a little-known special provision in the bill that extends the deadline to purchase a home to April 30, 2011 for military personnel, and active-duty service members currently living overseas.
The specific details of the bill include individuals on “qualified official extended duty” outside the U.S. who make home purchases prior to May 1, 2011 (or July 1, 2011, for taxpayers with binding contracts). “Qualified official extended duty” is defined as duty outside the U.S. for at least 90 days, during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. Married service members must have served overseas for at least 90 days in 2009 to qualify for this extension.
The provision for military personnel also makes mortgage payments tax deductible for military personnel.
For more information on this special provision for Denver-area military families, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060. As a former military family, we have a distinct understanding of military families’ needs.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Does $6,500 Cashback Sound Good?
TeamCox Realtors – Denver real estate specialists – and ALMC Mortgage have teamed up to offer a Homebuyer Training for 2010 Repeat Buyers and First-time homebuyers and YOU are invited!
There will be door prizes, light refreshments and industry professionals available to answer questions! We will address the following topics:
• Why should I buy again?
• What are “HUD homes,” and are they a good deal?
• Should I look at a “Short Sale or a bank owned property?
• Should I use a real estate broker! How do I find one?
• How much money will I have to come up with to buy a home?
• How do I know if I can get a loan? And How do I lind a lender!
• I know there are lots of types of mortgages – how do I know which one is best lor me?
• When I lind the home I want, how much should I seller?
• vVhat if my offer is rejected or countered?
• I have to sell my current home first-what are the steps?
• How to qualilfy for $6500 in income tax credits-ACT by APRIL 30th.
Please join us Jan 21st from 7pm-8:30pm Lil’ Ricci’s NY Pizza at 15352 E Ida Drive Centennial. Please RSVP to 303-696-6933 or Cheryl@almcmortgage.com by Wednesday Jan.20th 2009.
Short Sale Experts in Denver, Colorado
As one of the first Denver-area real estate agents to obtain the title of Certified Distressed Experts, or CDPE, in 2008, we are often asked about short sales - what is a short sale and how does the process work? A short sale is when a qualified homeowner offers his or her lender, in the form of a bona fide written contract, an amount less than is owed on the liens. There may be two or more liens, sometimes there are IRS liens, or other encumbrances that must also be satisfied.
Short sales are becoming an increasingly common alternative to foreclosures, with the number of short sales tripling to 40,000 during the first six months of 2009,
This type of transaction cannot successfully be handled without the knowledge and experience of a trained and skilled real estate agent, preferably with the gold-standard of education – CDPE.
Seven out of 10 homeowners do not get the help they need, which often leads to a foreclosure. This is a devastating alternative. If you need help, please do not delay in contacting TeamCox Realtors – Denver real estate specialist – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
New Guidelines in Place to Help Denver Homeowners Avoid Foreclosure
The U.S. Treasury set long-awaited guidance yesterday, through the Home Affordable Foreclosure Alternatives Program, which is designed to expedite the short sale process of homes and for other loan modification alternatives to slow the rising rampant pace of foreclosures.
Since TeamCox Realtors, Certified Distressed Property Experts, or “CDPE,” actively helps distressed Denver homeowners facing foreclosure, we are pleased to see this new piece of legislation. A few of the new guidelines are setting limits on the time it takes a bank to approve an offer and capping claims of subordinate lenders.
If you are in financial difficulty and facing foreclosure, pick up the phone and call a knowledgeable real estate agent immediately. Do not delay. We can help, and now with the Dept. of the Treasury behind us, we have greater means of offering assistance.
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
You already own a home, and you may be longing for a new one. You’ve sadly watched as all of the recent incentives have gone to first-time homebuyers. Well, it’s your turn now – the newly expanded $6500 tax credit is all yours!
There are several incentives that make this too good of an opportunity to pass up:
• There is currently a significant inventory of replacement homes (priced above $350,000) available in the Denver area.
• Interest rates are under 5 percent, which will not last as inflation will begin to impact the national economy. In approximately a year’s time, these low rates will be gone for a very long time, possibly forever. Purchasing a home with one of these very low interest rates will guarantee you a 5 percent rate for 30 years!
• Denver’s very low (by comparison) unemployment rate of 7 percent is just one of the contributing factors that makes Denver one of the few U.S. cities to have a 1.8 percent housing price increase over the same period last year.
We sincerely believe the worst has passed for the Denver housing market. If you have even considered purchasing a new home to create a better lifestyle for your family, do not let this perfect coming-together of reasons to buy a home in early 2010 pass you by. To qualify for the tax credit, you must have a home selected by March 30, 2010 and close on that home by June 30, 2010. It is also important to know that the National Association of Realtors worked very hard to get the first-time homebuyer tax credit extended to include move-up buyers. The NAR was told, in almost no uncertain terms, this bill will not be extended beyond March 30, 2009. Time to get moving!
For information on purchasing a home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver-Area Foreclosures Decline from Last Year
There is good news for the Denver real estate market this week. According to RealtyTrac Inc., Denver-area foreclosure filings decreased 1.6 percent in the third quarter of last year. There were 9,235 Denver-area properties that were in some stage of the foreclosure process in the third quarter, which equates to one per every 113 households.
While a lower foreclosure rate is great news for the health of the general Denver housing market, one distressed Denver homeowner is too many. If you are a Denver homeowner who is looking to avoid foreclosure in the Denver area, please contact TeamCox Realtors at 303-400-6060. We are a CDPE, or a Certified Distressed Property Expert, trained to help homeowners explore alternatives to foreclosure, including short sales, loan modifications, and much more. We have helped numerous homeowners avoid foreclosure and put them on a path to a brighter future.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
What Types of Denver Homes Are Selling Right Now?
What Types of Denver Homes Are Selling Right Now?
There are two types of Denver area homes that are selling, despite the rather slow current market conditions – the “gotta have it” home and the “make me a deal” home. The “gotta have it” home is well-positioned in the market, exuding an emotional appeal from the moment the real estate agent pulls up to its curb. Your mother was right – first impressions mean everything, and they are especially important in real estate. Keep in mind, that prior to entering the home, potential buyers are evaluating the yard, the paint, the trim, the cleanliness of the outside entryway, and even if the doorbell works or not. The house is being closely compared with the last home the buyers saw, and it will be quickly be compared with the next one home the list.
The “make me a deal” home is also selling, but this property must be aggressively priced, since the buyer for this home is looking almost exclusively for the best possible price, or the best square footage “deal” in the target neighborhood There is not nearly as much emotion involved with this transaction as with the “gotta have it home.” Obviously, the best possible combination for a quick sale is if the best priced home also happens to be great looking and in good condition.
As an Accredited Staging Professional, TeamCox Realtors – your Denver real estate specialists – can give you guidance in getting your home ready for the market, along with many other complimentary services that we can offer.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Financing Your First Denver Home
Financing Your First Denver Home
First-time Denver homebuyers and sellers might want to consider an alternative to a price reduction, since the monthly payment is usually a huge concern to them. The monthly payment is essential for the budget minded, but it is also extremely important for the buyer to qualify. Here is a financing possibility for both buyers and sellers to consider:
A 5 % interest rate on a 30-year fixed mortgage sounds pretty good, doesn’t it? While we think this is a great rate, here is another possibility for a seller to consider – instead of taking a lower price for a home, how about the seller paying 2.25% of the sale price and offering this great rate to the buyer?
Example:
Sale Price: $278,000 X 2.25% = $6,255
Loan 90% $250,000 X 2.50%* = $6,255
Payment for $250,000 @ *4.375% = $1,248.21
VS Seller reducing price by 2.25% and buyer pays market rate of 5% = $1,312.9
(* 2.50% of the loan amount paid by seller.)
The pricing can be very similar for FHA buyers as well.
For more information on financing your first Denver home, or for a lender recommendation, please contact TeamCox Realtors – Denver real estate specialist – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
