NOCO REAL ESTATE BLOG

Fort Collins/Loveland top list for families

2008-11-12T20:01:00Z

Northern Colorado is top in the state when it comes to raising children, according to a BusinessWeek analysis.

Fort Collins ranked as the top spot in the state in the magazine's "Best Places to Raise Your Kids 2009." Loveland was a runner-up. The breakdown, conducted by real estate analysis firm OnBoard Informatics, took into account towns with at least 50,000 residents and a median income of $40,000 to $100,000.

The list was narrowed down by elements such as school performance; number of schools; household expenditures; crime rates; air quality; job growth; family income; museums, parks, theaters, and other amenities; and diversity.

The report fingered Fort Collins for its "excellent schools, low crime and a vibrant downtown" as well as amenities including trails, parks and natural areas. Loveland was also a runner-up.

America's Best Places to Live 2008

2008-07-15T16:46:00Z

Monday, July 14, 2008provided by

No. 2: Fort Collins, Colo.

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Courtesy: City of Fort Collins

Population: 129,500

Miles from Denver: 59

Hiking and biking trails: 25 miles

Average July temperature:
69°F

Pros: Environmentally minded, lots of high-tech jobs, outdoor paradise

Con: More than an hour from a major city

One of the first things you notice about this Rocky Mountain city is that practically every new road has a bike lane. Even the wheelless can get in on the action now that Fort Collins (which ranked No. 1 on our list in 2006) has a bike library in the middle of its historic downtown: Residents and visitors can check out a bicycle for up to seven days, free. “I’m generally out on my bike two to three times a week,” says Greg Churchman, 46, who owns a human-resources consulting firm. He and his wife Beth, 50, a probation officer, sometimes ride to nearby Horsetooth Reservoir with their sons James, 16, and Lucas, 14. “The park and trails system in this town are incredible,” says Beth.

Even if you’re not the outdoorsy type, Fort Collins has a ton to recommend it. Old Town, the city’s historic district, contains four microbreweries and more than two dozen restaurants, most of them with alfresco seating. A healthy concentration of bioscience and tech companies, including Agilent Technologies, Hewlett-Packard and Kodak, keeps employment opportunities high. Colorado State University occupies a scenic spot in the middle of town, providing a college-town feel and youthful energy. And the city is on the forefront of environmental planning; it just received a grant from the Department of Energy to start a solar-energy project downtown. As for health care, the award-winning Poudre Valley Health System will soon be home to a brand-new cancer center.

While the excellent schools have been overcrowded in recent years, officials have taken steps to correct the problem by moving some grades to different buildings. “I moved here for the quality of the schools and basically the quality of life,” says Tracy Riley, 39, a marketing communications specialist who arrived last year from Windsor, Calif. “Fort Collins has everything.”

Another Best for Loveland/Ft. Collins

2008-04-02T18:57:00Z

Best Places For Business And Careers

by Kurt Badenhausen, Forbes.com

Mar 26th, 2008

What city is worth the high cost of living?

Companies in the U.S. are facing myriad challenges, from the credit crunch to soaring commodity prices to corporate tax rates that are behind only Japan's among developed countries. What is a chief executive to do? Head south.

In our 10th annual ranking of the Best Places for Business and Careers, the Southeast is home to half of the top 10 for a third straight year. But there is new blood near the top, including Lexington, Ky., Atlanta, Ga., and Richmond, Va. (Spokane, Wash., and Fort Collins, Colo., also made big jumps).

Common themes for the business-welcoming metros include solid job growth, an educated labor supply and low business costs. Interestingly, six of the 10 metro areas are anchored by capital cities; maybe lobbyist spending boosts an economy.

Topping the list for a second straight year is Raleigh, N.C. Business costs are 14% below the national average, and the area boasts one of the most educated labor supplies in the country, with 38% of the adult population possessing a college degree and 12% holding a graduate degree. Raleigh's secret is out, though, as people have been flocking to the area.

Net migration has averaged 25,000 annually in recent years, or 2.4% of the population, seventh highest in the country. The influx of talented young people is good news for big employers in the area like Cisco Systems, GlaxoSmithKline and SAS Institute.

One metro that made a big jump was Atlanta, which improved to sixth from 25th last year. Its ranking benefited from strong job and income growth and a big reduction in crime. "Hotlanta" features a diverse economy and pro-business environment. Another built-in advantage for big employers like AT&T, Home Depot and IBM is Hartsfield-Jackson, the busiest passenger airport in the world.

Another newcomer to the top 10 is Fort Collins. With a metro area population of 282,000, it is one of the smaller places on our list. Fort Collins is home to Colorado State University, which is the area's largest employer and a big reason why 40% of residents have a college degree, the sixth highest rate in the country. Fort Collins also benefits from strong income growth and business costs well below other Colorado locales like Boulder and Denver.

Our rankings cover the 200 largest metro areas (populations over 240,000) as defined by the U.S. Office of Management and Budget and are based on nine factors. West Chester, Pa.-based economic research company Economy.com, owned by Moody's, supplied data on five-year historical job and income growth as well as migration trends. We also incorporated Economy.com's business cost index, which looks at labor, tax, energy and office space costs and its living cost index, which factors in housing, transportation, food and other household expenditures.

The rest of the data for the rankings was furnished by Portland, Ore., demographer Bertrand Sperling, who last year published the second edition of Cities Ranked & Rated along with Peter Sander. He provided stats on crime, educational attainment, presence of four-year colleges and an index on cultural and recreational opportunities

Loveland Voted as 5 Best Places to Retire

2008-03-17T19:53:00Z

The Today Show put Loveland on the map again yesterday when it voted the city as one of the top 5 places to retire in the US.

Loveland, Colorado

Profile and Basic Stats:
Location: 45 minute drive away from Denver, Colorado at 5,000 feet right by the Rockies 2h flight from Los Angeles; 4h from New York
Population: 61,122 as of 2007 (Sperling’s Best Places)
Median Home Price: $259,566 (MONEY Magazine)
Property taxes: below average Retirement tax break from state: yes
Average Age: 36 years
Average Temperature: 4 distinct seasons
High temp in July 87F/ Low temp in January 15-23F
Size:The city has a total area of 25.5 square miles.

History:

It’s a rail-road town. The city was founded in 1877 along the newly-constructed line of the Colorado Central Railroad. It was named in honor of William A.H. Loveland, the president of the Colorado Central Railroad. The town was dependent on agriculture for the first half of the 20th century (sugar beets and sour cherries!). In the late 20th century, technology fueled job growth as manufacturing facilities – Hewlett-Packard, Teledyne, and Hach, a water quality analysis equipment manufacturer – settled in the town. A new medical center that’s under construction will also add to the employment opportunities.

Who you might find there: A mix of professors and students (there are three universities and two community colleges in the area), artists and computer jockeys. And lots of retirees! More than 21% of Loveland’s population is made up of residents over the age of 55.

The Ambiance:

The city faces the majestic Front Range of the Rockies. The neighborhoods are surrounded with spectacular mountain views; the older residential areas of single-family homes shaded by huge trees. The lush, green grounds feature a waterway, benches, shade trees, a park for children, and bronze sculptures scattered throughout. The downtown is dotted with lively restaurants and new art galleries, all in stately turn-of-the-century buildings.

• It’s very safe: Loveland enjoys one of the lowest crime rates in the state of Colorado.
• It was voted the number one place in the nation to “Revitalize your Life,” by AARP Magazine!
• It ranked 15th on the list of fastest-growing metropolitan areas nationwide

Why is Loveland so appealing?

1. It’s full of recreational activities
Whether you are into outdoors or indoors, there’s always something fun to do.

-Go boating on Lake Loveland…or sunbathe on its pretty, sandy shores.
-Go golfing…for cheap! The golf courses in Loveland are owned by the city, well maintained, but the prices are low and very reasonable for retirees.
-Cheer on the local ice-hockey team. Loveland has its own hockey team and the games are very popular and always sell out.
-Listen to world-class music. Both Rod Stewart and Sarah MacLauchlan have recently performed at the local Budweiser Event Center.

2. There’s Art Everywhere

Thanks to a thriving community of working sculptors, the city is regarded as one of the best art towns in the United States. The town is scattered with sculptures, and there are several special exhibits throughout the year.

-Loveland Museum/Gallery is a very progressive center for historical exhibits and the performing arts. Right now they are showing one of a kind stone sculptures from South Africa.
-Benson Park is a beautiful, tranquil sculpture garden that’s a great place to walk around and wonder. Every August there is a “Sculpture in the Park” exhibit and an international, invitation-only exhibit, “the Sculpture Invitational.”

4. Senior Recreational Activities

Loveland has a state-of-the-art full service Recreation Center (the Hatfield Chilson Senior Center) that offers a friendly atmosphere for recreation, learning, culture, and health support as well as hot lunches every weekday through the Volunteers of America Retired Senior Volunteer Nutrition Program.

• Get Social: senior area includes pool tables, shuffleboard and a lounge area…or go on an organized day trip such as brunch and shopping or the Denver Center for a musical with other seniors (for a nominal fee). The center even organizes extended trips for seniors from 2 days to 2 weeks all over the world
• Get Healthy: the services include Blood Pressure Checks, Foot Care, Adult Wellness Clinic, Therapeutic Massage, and Medicare Assistance.
• Get Pretty: the services also include Pedicures and Manicures!
• Get Fit: The silver sneakers fitness classes have outstanding participation. The most popular classes are yoga stretch, ballroom dancing, aqua fitness and silver sneakers cardio circuit and muscular strength! (Many classes are free; others suggest a small donation.)

5. It’s fun for the family to visit

-It’s easy to get to: the nearest airport is right there Fort Collins - Loveland Airport (though only direct to Las Vegas – retirees favorite weekend gambling getaway) and Denver International Airport is only 45-minute drive away.
-There are great places to stay. Try the nearby Sylvan Dale Guest ranch (Named “Best Family Vacation” by Frommer’s Colorado guidebook!). This historic working horse and cattle ranch is nestled along the banks of Colorado’s beautiful Big Thompson River. It offers opportunities for riding, fly fishing, tennis, swimming and even cattle roundups. 2-bedroom suites go for under a $200, and rooms for under a $100.
There are tons of family activities. The most special is the Loveland Corn Roast Festival every fall. The town hosts free corn eating and corn shucking contest (senior groups are great at that!) There’s even a corn roast festival parade. See below!

New Active Adult Community in Windsor

2007-12-19T04:19:00Z

It has been a long time coming and finally Northern Colorado will get its first gated, active adult

community in Windsor Colorado. The plans have been in the works for years but the timing hasn’t been right until now. Doug Peterson of Colorado Builders is putting the finishing touches on the first home at Veranda Villa in Belmont Ridge.

The unique gated community will be tailored to the ever expanding over 55 age group. The 59 Maintenance Free Villas will feature 5 different ranch style models ranging in price from the mid 300’s up to the 500’s for those with finished walkout basements.

Every floorplan is uniquely tailored to over 55 active adults. Standard features will include wood floors, 3 foot wide doors, granite counters, and full landscaping. All the residences also have low E energy efficient windows and no step entrances in the garage, entry and deck. The models are very versatile with options for finished basements, treks decking, 3 car garages, and even an elevator. This is a one of a kind community that will have its own clubhouse with a pool, tennis courts, and even a bocce ball court. Until that time, Veranda Villa is offering a membership at Highland Meadows for the fitness center, pool, and tennis courts.

“I believe this project is going to be a huge success, because of it’s proximity to shopping, dining, medical, and entertainment. It is in the heart of the all the best that Northern Colorado has to offer. You are literally minutes away from anything you need.” Peterson comments.

Although there are several patio home communities in Northern Colorado, this will be the first designated as an active adult community which gets the designation because 80% of the residences must be over 55 years old. The maintenance free Villas will be available for Purchase beginning in January.

For more information contact Mike Kraft with The Group, Inc. at 970-744-1802

Lowest Rates in 25 Months

2007-11-29T18:07:00Z

We couldn't have asked for a better Thanksgiving treat than the one we got on Monday: the lowest 30-year fixed-rate in over two years. That's right. For those of you who have been patiently waiting, here's your chance to save anywhere from $5,000 to $7,500 or even more on the mortgage financing you've been looking for. Do not miss this great opportunity to cash in on the lowest rates since October 2005.

Here's why you should act now:

Monday saw the lowest 30-year fixed interest rate in over two years. However, each time this interest rate reached previous low points, both last year and earlier this year, it began increasing and didn't stop, climbing over 0.50% in the months that followed!
Fannie Mae and Freddie Mac tightened guidelines, announcing new Loan-Level Price Adjustments. In the first quarter of 2008, most borrowers who have good credit, but have FICO scores below 680, will now be forced either to pay more points at closing or incur a higher interest rate.

The amount that a borrower could be forced to pay, even if they've never been late on a payment, could be as much as 2.00% in points or an interest rate that's 1.00% higher than the going rate.

On a $250,000 home loan, a borrower could have to pay up to $5,000 in order to receive normal market rates! Borrowers choosing the higher interest rate, under the worse case scenario, would stand to lose over $7,500 in just the first three years of the loan.

Choosing to wait could cost you money both in the form of higher market rates and points. This could well be the greatest holiday present you could treat yourself to this year, but only if you act fast!

Separating fact from fiction in the mortgage-lending ‘crisis’

2007-11-28T03:51:00Z

Mortgage lenders are finding business a little trickier these days since foreclosures began to rise and investors slowed their purchase of nonprime, mortgage-backed securities. Lenders are changing parameters weekly – if not daily. However, mortgage loans at attractive rates are still available for qualified home buyers.

The days of getting a 100% mortgage loan even if you have bad credit and can’t document income are over – as they should be; those wanting to buy a home with no down payment should be prepared with documentation. The result of these changes is a cleansing of unqualified borrowers and lenders from the industry.

In the meantime, rumors about what is required to get a mortgage loan are running rampant. Below are some of those rumors and the actual facts. For the most updated information about mortgage lending or to learn about loans you would qualify for, call me or The Group Guaranteed Mortgage at any of The Group, Inc.’s seven offices.

Mortgage loan rumors versus reality
Rumors

• 100% financing is no longer an option

• 20% down payment is necessary to get a mortgage loan

• A credit score of 720 or higher is required to acquire a mortgage loan

• Low- or no-documentation loan programs are no longer available

Reality

• As of mid-August, 100% financing was still available

• Borrowers can get a good interest rate with a down payment as small as 5%

• Many conventional programs will give loans to borrowers with a 620 or higher credit score and government loans have no minimum credit score requirement

• Low- or no-documentation loan programs are still available with as little as 5% down

Selling Tips #2

2007-11-28T02:08:00Z

Selling your home: Where to begin?

First Impressions
Remember what first attracted you to your house when you bought it? What excited you about its most appealing features? Now that you're selling your home, you'll need to look at it as if you were buying it all over again.

A spruced up house makes a great first impression on potential buyers. An attractive property grabs their attention and makes them excited about finding a house that looks and feels well-cared for. Because buyers know they’ll encounter fewer problems if they buy it, your house becomes more appealing and stands out from the competition. So if you prepare your home correctly, you’ll save time selling it when it’s on the market.

A good first impression makes an impact on a number of levels. It’s not just the way your house looks to potential buyers, but how it feels and smells to them, how their friends and family will react, how they imagine it would be to live there.

With simple improvements throughout your house, you can grab the attention of potential buyers and help them see why your house is right for them.

Selling Tips #1

2007-09-18T16:41:00Z

Common Selling Mistakes

Mistake #1 -- Placing the Wrong Price on Your Property
Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value
Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 -- Failing to "Showcase"
In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 - Trying to "Hard Sell" While Showing
Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 - Trying to Sell to Lookers
A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.

Your realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new realtor.

Mistake #6 -- Being Ignorant of Your Rights & Responsibilities
It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what your are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

Mistake #7 - Signing a Contract with No Escape
Hopefully you will have taken the time to choose the best realtor for you. But sometimes, as we all know, circumstances change. Perhaps you misjudged your realtor, or perhaps the realtor has other priorities on his or her mind. In any case, you should have the right to fire your agent. Also, you should have the right to select another agent of your choosing. Many real estate companies will simply replace an agent with another one, without consulting you. Be sure to have control over your situation before signing a real estate contract.

Mistake #8 - Limiting the Marketing and Advertising of the Property
There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, realtors often use open houses to attract future prospects, not to sell the house.

Your realtor should employ a wide variety of marketing techniques. Your realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch will many potential buyers.

Mistake #9 - Choosing the Wrong Realtor®
Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select the realtor that is best for you. Experienced real estate agents often cost as much as brand new agents. Chances are that the experienced agent will be able to bring you a higher price in less time and with fewer hassles.

Take your time when selecting a real estate agent. Interview several agents; ask them key questions. If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you.

Buyer Tips # 5

2007-09-04T22:53:00Z

Closing Costs Explained

Here is an overview of the types of closing costs you may incur on your loan. Some are one-time fees, while others reoccur over the life of the loan. When you apply for your loan, you will receive a Good Faith Estimate of Settlement Charges, and a booklet that will explain these costs in detail.

Loan Origination Fee: This fee covers the lender's administrative costs in processing the loan. It is a one-time fee, often expressed as a percentage of the loan. The origination fee is typically 1% of the loan, but remember, you can obtain a loan with no origination fee and a slightly higher interest rate.

Loan Discount: Often called "points", a loan discount is a one-time charge used to adjust the yield on the loan to what market conditions demand. One point is equal to 1% of the loan amount. This fee is rare when interest rates are low.

Appraisal Fee: This is a one-time fee that pays for an appraisal, which is a statement of property value viewed by the lender. The appraisal is made by an independent fee appraiser and can cost a standard $300 to $450, or much more, depending on the home's size and location.

Credit Report Fee: This one-time fee covers the cost of the credit report that is run by an independent credit reporting agency and is usually about $60-$75.

Title Insurance Fees: There are two title policies: a lender's title policy (which protects the lender against loss due to defects on title) and a buyer's title policy (which protects you). These are both one-time charges, but the one you usually pay as a buyer is $200.

Miscellaneous Title Charges: The title company may charge fees for a title search, title examination, document preparation, notary fees, recording fees, and a settlement or closing fee. These are all one-time charges and can add up to about $200.

Document Preparation Fee: There may be a separate, one-time fee that covers preparation of the final legal papers, including the note and deed of trust. These legal documents run about $150.

Lender Fees: Other lender fees include an underwriting fee, a flood certification fee, an amortization schedule fee, and other miscellaneous fees that should be disclosed by your mortgage lender at loan application. These fees vary dramatically from about $450 to $900

Prepaid Interest: Depending on the time of month your loan closes, this charge may vary from a full month's interest to just a few days' interest. If your loan closes at the beginning of the month, you will probably have to pay the maximum amount. If your loan closes at the end of the month, you will only have to pay a few days' interest.

PMI (Private Mortgage Insurance) Premium: Depending on the amount of your down payment, you may have to pay an up-front fee for mortgage insurance (which protects the lender against loss due to foreclosure). You may also be required to put a certain amount into a special reserve account (an impound account) held by the lender for PMI.

Beginning of the escrow account: Your lender will typically have an account where your property taxes and property insurance will be held. This account will be started with taxes approximately equal to two months in excess of the number of months that have elapsed this year. (If 6 months have passed, they will collect 8 months of taxes.) Your property insurance will be collected one year in advance, plus two months will be kept in your escrow account.

EARNEST MONEY DEPOSIT: It is important to have an understanding of the earnest money deposit, so you will not be placed in an uncomfortable position when you purchase a property. At the time a written offer is initiated, you will be required by the seller to include a personal check, cashier's check, or cash. The amount is normally deposited (cashed) into the designated title company's escrow account upon the offer's acceptance, and will remain their until closing. This money is either refunded or used toward the purchase of the home.

Have a Great Day,

Buyer's tips #4

2007-08-07T16:31:00Z

EIGHT INSIDER TIPS THAT EVERY HOME BUYER MUST KNOW BEFORE THEY BUY!

1. Be a Pre-Approved Buyer: A pre-approved buyer always has the advantage in an offer situation. Becoming pre-approved is very easy: you complete your loan application with a credit check prior to beginning your home search process. Pre-approval means that you have actually been approved for the purchase by a lender, which gives you the edge in home purchase negotiating.

2. Beat The Competition to The Best New Listings: The search process can be both fun and trying. You will notice that some homes sell very fast and others hang around for long periods of time. The best homes at the best prices sell fast. Keeping on top of this is essential. Connect with a professional Home Buyer Specialist that knows the market and keeps you updated.

3. Do The Research: Make yourself a "home value expert." Investigate the areas and price ranges for the kind of home you are looking for. Get a good idea of the price ranges these homes sell for and how long the market time is for them. Your Home Buyer Specialist is a great asset here.

4. Have Your Offer Presented in Person: Your Home Buyer Specialist represents you and your best interests. To adequately do this, make sure that your home offer is presented by them directly to the seller. The personal touch will give you the edge. Your agent also might pick up critical information during this meeting.

5. Prove That You Are a Serious Buyer: The best way to accomplish this is with strong earnest money. This might mean that you put 5% or more down to get the sellers attention.

6. Don't Go Crazy: Even in a hot market, be cool and calculated with your decisions. A knowledgeable Home Buyer Specialist can really help you here. Your home purchase may be your single largest investment. It is important to make sure that you get the best deal possible. Overpaying now will make it harder to get your value back when you sell.

7. Keep Your Offer Simple and Clean: Make sure that your contract to purchase is simple, clean and not bogged down with unnecessary contingencies, especially repairs. Keep the time frames of repairs and responses to a minimum. The cleaner your offer, the more interested the seller will become. This may help you purchase the property at the best price.

8. Don't Wing It Alone: What you need most in today's complex marketplace is an experienced and professional Home Buyer Specialist who represents your interests only. No matter how heated the competition or the negotiations, a professional Home Buyer Specialist will represent your best interests, keep you from paying too much and help you maximize your investment.

Are you looking for an agent to represent you and your best interests? You, the home buyer, pay nothing for a Home Buyer Specialist. Their fees are paid for by the seller. Contact us today and find out how we can help you find the most house for the best price.

Buyer Tips #3

2007-07-17T22:13:00Z

How Much House Can You Afford?

Determining how much home you can afford, or what payment you feel comfortable with, can be a trying process. Calling lenders, looking at mortgage loan programs and interest rates can be confusing, to say the least. There is an easy way to get started, and give yourself an idea of where you stand.

The first step is to find out what mortgage interest rates are at the current time. You can typically do this with a couple of phone calls to lenders or some quick looking on the internet. Get your rates on conventional fixed rate loans. Now use this handy table to see what your payment would be at different price ranges and interest rates. Payments might be higher or lower than those shown in the chart depending on current interest rates.

To obtain a very clear picture of how much home you can actually qualify for, the best idea is to contact a reputable local lender and let them analyze your entire situation. The lender can calculate your income-to-debt ratio, do a quick credit score and give you the information you need. Typically, lenders like to see a ratio not exceeding about 28%. This does not take into consideration long term monthly debt. As an example, to qualify for a loan, lenders may require ratios of 28% or 36%. This means you can spend up to 28% of your gross monthly income on a motgage payment, and no more than 36% of your gross monthly income on all forms of debt, mortgage included.

Call us for a recommended loan officer.

New commercial in Northern Colorado

2007-07-11T20:57:00Z


Here is a rendering of a new project off of Crossroads Blvd and I-25. There will be a pair of six-story office buildings. The views from these buildings will be outstanding and will change Northern Colorado's skyline once again. Lots of neat exciting stuff going on in Northern Colorado right now.

Home Buyer Tips #2

2007-07-10T21:27:00Z

Save Thousands on Interest and Taxes!

Purchasing a home can save you money very quickly.
FIRST, you'll save on taxes because the interest on your home mortgage is tax deductible. If you rent, your landlord gets the break.

SECOND, you'll save on interest payments while keeping the great tax advantage.

For example if you are paying $900 per month in rent, you are paying a portion of this towards your landlord's property taxes and mortgage loan interest. Your landlord can write this amount off. You derive absolutely no tax break. When you own a home, you now reduce your taxes for the mortgage interest and for your property taxes. Your interest is always the highest during the early years of your loan, so your overall write-off is largest during these early years.

Paying rent is like throwing your money out the car window each month. You pay it out and never see it again. With home ownership you receive loan interest write-off, and gain money over the years from the increased value of your home. Over a ten year period, on an initial purchase price of $100,000, you could gain over $100,000 in tax advantages and appreciation based on an 8% mortgage interest rate and 5% per year increase in home values.

On both the 15 year and 30 year loans, your interest deduction is highest in the first few years of the loan, so your tax deduction is highest then, too. Remember, if you plan to move or refinance after 5 years, you will maximize your tax deductions. Keep in mind that as you pre-pay part of your loan to reduce the interest expense, you also reduce your tax deduction. How long you plan to keep your current mortgage loan can help determine which type of loan, and which payment strategy, is ideal for you. Have questions? Give us a call. We are happy to help.

Home Buyer Tips #1

2007-06-27T22:38:00Z

QUESTIONS YOU SHOULD ASK ANY AGENT BEFORE GETTING INTO THEIR CAR!

1. What is your procedure for assisting a buyer from beginning to closing? Make sure that the agent has a precise presentation for you that explains exactly how they work and how they represent only you and your best interests.

2. What is your experience with financing alternatives, and what might they be in my situation? Each buyer's situation is different. We can literally put you in a much better financial situation with the same monthly payments simply by adjusting the financing. You might have many alternatives. Don't depend soley on the lender. Your agent should lead the way.

3. How do you determine my qualifications and when? You would be shocked at how rare it is for an agent to complete your qualifications right away. Even so, it is important to have this done early in the process. This way you are ready to make a strong offer at a moment's notice, increasing your chances for not only finding, but buying the home of your dreams.

4. How do you provide me with information on new homes for sale? Your agent should have a system that automatically updates you when new homes meeting your criteria come on the market.

5. What is your negotiating philosophy, and how do you apply it to me? This is important. Play close attention to how many transactions the agent does per year. More is better. The more transactions the agent closes, the more experience they have in negotiating just about every situation that could come up.

6. How do you find the best value for me? How do you make sure it is a good value? This is important because the agent should have some immediate and concise answers as to how they accomplish this for you. They should have systems in place and be able to explain them to you.

7. How do you protect me from the extensive costs that lenders, title companies, inspectors and others charge a home purchaser? The typical answer is that these charges are just normal. Make sure that the agent has relationships with companies that can offer you good service and some discounts. Also make sure that the agent has an immediate knowledge of what typical costs are.

8. Can you sell us a new, resale or foreclosed home? Most agents will answer affirmatively, but you should follow up with questions about specific builders and areas.

There are many more questions to ask, this is just a sampling. Hope it helps.

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