I’m Ready To Downsize But How Do I Start?

By June Griffiths

Are you thinking about downsizing but don’t know how to make the tricky transition work? How do you buy a new place before you sell your current home?

You are not alone as many homeowners have the same concerns. They want to embrace a new lifestyle, take advantage of our ever-increasing values, and lock in a smaller home or condo in an area that they covet.

Below are some creative solutions that may help you make your dreams come true too. Keep in mind that everyone’s financial profile is different. One option might not work for you while another one will. It might even be a combination of a few of these.

Here are a few ideas:

HELOC – Home Equity Line of Credit. If you have enough equity in your current home, you may be able to get a HELOC to get a down payment for a conventional loan or to buy the new property outright.

Bridge Loan – These loans can bridge the gap between buying and selling. You can typically borrow up to 65% of the equity in your home with a maximum loan of $500,000.

Margin Loan – most individuals can borrow up to 50% of the balance in their liquid investment accounts (retirement accounts cannot be used). These loans are generally cheaper than a bridge loan and have no major tax implications.

IRA Rollover – Most retirement funds allow a 60-day rollover of funds. It’s very important to know that these funds must be replaced into the retirement account within 60 days or you may incur significant penalties and taxes.

Making a move, whether you are buying a larger home or downsizing out of your now empty nest, is a big decision. You’ll want the best professionals to help you. Ask your real estate agent to put you in touch with a lender who will help evaluate your financial situation and customize the best options for you.

June Griffiths is a Managing Broker in the Windermere Issaquah office and has worked in real estate since 1989. She can be contacted at june@windermere.com.

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New Construction Home With Magnificent Views

Featuring 5 Bedrooms, 5 Bathrooms And A 3-Car Garage!

An ideal location, south of Scheels, near the I-25 / 34 interchange and Loveland Centerra. Enjoy an expansive west facing deck on a large lot, boasting beautiful views of the Front Range, with open space behind. This gorgeous home features: a gourmet kitchen, custom handrail, hardwood floors, high-end appliances, 13′ great room and a finished 10′ basement with wet bar and a large rec room. The energy efficient design includes 2 x 6 construction, upgraded insulation and dual zone high efficiency furnace.

For more information, please visit: http://windermerenoco.com/listing/76254205 or call Jacqueline Feil at (970) 460-3033.

     

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Find a New Home in Four Steps

Whether you’re a first-time homebuyer or a current owner looking for a bigger home, the ideas below will help you better navigate that all-important first step: Finding a property that you like (and can afford).

The search for a new home always starts out with a lot of excitement. But if you haven’t prepared, frustration can soon set in, especially in a competitive real estate market. The biggest mistake is jumping into a search unfocused, just hoping to “see what’s available.” Instead, we recommend you first take some time to work through the four steps below.

Step 1: Talk to your agent

Even if you’re just thinking about buying or selling a house, start by consulting your real estate agent. An agent can give you an up-to-the-minute summary of the current real estate market, as well as mortgage industry trends. They can also put you in touch with all the best resources and educate you about next steps, plus much more. If you are interested in finding an experienced agent in your in your area, we can connect you here.

Step 2: Decide how much home you can afford

It may sound like a drag to start your home search with a boring financial review, but when all is said and done, you’ll be glad you did. With so few homes on the market now in many areas, and so many people competing to buy what is available, it’s far more efficient to focus your search on only the properties you can afford. A meeting or two with a reputable mortgage agent should tell you everything you need to know.

Step 3: Envision your future

Typically, it takes at least five years for a home purchase to start paying off financially, which means, the better your new home suits you, the longer you’ll most likely remain living there.

Will you be having children in the next five or six years? Where do you see your career heading? Are you interested in working from home, or making extra money by renting a portion of your home to others? Do you anticipate a relative coming to live with you? Share this information with your real estate agent, who can then help you evaluate school districts, work commutes, rental opportunities, and more as you search for homes together.

Step 4: Document your ideal home

When it comes to this step, be realistic. It’s easy to get carried away dreaming about all the home features you want. Try listing everything on a piece of paper, then choose the five “must-haves,” and the five “really-wants.”

For more tips, as well as advice geared specifically to your situation, connect with an experienced Windermere Real Estate agent by clicking here.

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How are inventory shortages impacting the housing market?

The shortage of homes for sale has been a major concern for buyers and real estate agents over the last few years. Windermere Chief Economist, Matthew Gardner, explains the impact these shortages are having on the housing market.

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February Home Maintenance Checklist

 

It’s February – winter’s not over yet, but spring is right around the corner. If you have cabin fever from being inside, cleaning and freshening up your house can help you get through this last month of winter and be ready to get outside when spring arrives.

Once you check these items off your to-do list, you’ll be able to relax by the fire with a good book and enjoy the last few weeks of winter.

  • Mop entryway floors. Clean your floors regularly to prevent damage from road salt and melting snow. Place a basket of old towels near the door to wipe up water and salt as soon as it is tracked inside.
  • Rotate or flip your mattress. Extend the life and comfort of your mattress by flipping or rotating it. At the same time, vacuum box springs and the mattress to eliminate allergy-causing dust- mites.
  • Organize your laundry room. Scrape dried-on laundry detergent from the ridges in your washer. Throw away laundry products you never use and replace damaged sorting bins.
  • Clean out your spice cabinet. Throw away expired spices and other seasonings, which may not only lose their taste, but could harbor mold and bacteria.
  • Sanitize hand-held devices. Prevent germs that cause the spread of colds and the flu by disinfecting your phone, remote controls, tablets, as well as your door and cabinet knobs.
  • Dust blinds, ceiling fans and fixtures. Wipe down or use a feather duster to remove the dirt that builds up on blinds, ceiling fans, light fixtures other small electronics.
  • Add color to your table. Treat yourself to some fresh flowers to add cheer to your kitchen table while waiting for spring blooms to make their first appearance.
  • Plan your summer vacation. Reserve your vacation home now to get the best selection of available properties. Start your planning today at Long & Foster’s Vacation Rentals website.

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Upscale Home With Impressive Finishes

Featuring 4 Bedrooms, 4 Bathrooms And 2 Fireplaces!

Overlooking the 7th green at The Greens @ Collindale. Upscale golf course neighborhood in an intimate setting. Beautiful with tons of upgrades! 2 fireplaces: great room and master. 2 laundries, main floor master. Large deck with gas grill looks onto green. 3-car garage. The list goes on and on…

For more information, please visit: http://windermerenoco.com/listing/76083407 or call Kyle Basnar at (970) 460-3033.

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Charming Ranch With Upgrades

Featuring 3 Bedrooms, 3 Bathrooms And A Finished Basement!

Charming 3 bed 3 bath updated home located in High Plains Village awaits! The kitchen showcases gorgeous granite counter tops & stainless steel appliances, opening to the dining area & family room making the main level perfect for entertaining! The incredible finished basement boasts a nook perfect for crafts or an office, additional bed/bath & bonus room. Newer furnace, A/C & tank-less water heater recently installed. Situated on a beautifully landscaped lot, close to shops & restaurants.

For more information, please visit: http://windermerenoco.com/listing/76077555 or call Rondi duPont at (970) 460-3033.

 

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Superb 2-Story Condo In a Quiet Neighborhood

Featuring 2 Bedrooms, 3 Bathrooms And 2 Master Suites!

This property features a unique and fantastic two master suite floor plan! This home has updated fixtures and flooring. Both bedrooms enjoy a walk-in closet and full bath. Large living room and kitchen, back patio, and at the end of a cul-de-sac making this a quiet location. Currently rented through June of 2018.

For more information, please visit: http://windermerenoco.com/listing/76058736 or call Paul Hunter at (970) 460-3033.

 

 

 

 

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At Least List

2018 is off to a flying start according to one measure we use frequently.

An interesting stat is one we call “At Least List.” It tracks how many homes sell for at least list price.

Because of low inventory in some price ranges and the high demand that exists in our market, many homes sell for exactly list price or even higher.

In February 47% of the single family homes in Larimer County and 69% of the single family homes in Weld County sold for at least list price.

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6 Foyers That Invite in Style

With a side entrance to your home, you can be a little more forgiving when it comes to messes. But with a front-door entry, through which you and your guests get a first impression of your home, you’ve got to be a little more on top of your style and storage game. The following are some of the most popular front-entry photos recently, as measured by the number of people who saved them to their Houzz ideabooks from January through March. Let us know which will inspire your next project.

Entryway 1Jackson and LeRoy, original photo on Houzz

6. A classic wooden bench offers a spot to take off and put on shoes in this farmhouse-style entryway in Utah.

Related: Wipe Your Shoes on a Durable Outdoor Rug

Entryway 2Nicole Benveniste Interior Design, original photo on Houzz

5. Benjamin Moore’s Plaster of Paris paint on the walls sets the soothing tone for this spacious San Francisco entry. A large painting featuring pale swaths of color hangs over a few well-chosen accessories atop a weathered wood table, starting this home off on the right foot.

Entryway 3Brian Paquette Interiors, original photo on Houzz

4. Here, a burl-wood-type table and vibrant abstract art create movement and excitement.

Related: Flower Vases for the Entryway

Entryway 4Tim Barber Ltd Architecture, original photo on Houzz

3. A rich wood built-in helps organize this Los Angeles entry. A frosted, ribbed glass window obscures the view into the living room.

Entryway 5NEST Interior Design Group, original photo on Houzz

2. An eclectic mix of art and accessories beckons guests into this Houston home. A table offers a spot for keys and wallets, while wire baskets below can handle shoes and bags.

Entryway 6Fluidesign Studio, original photo on Houzz

1. Creamy shiplap walls, rich wood floors and a wood console table establish a refreshing air in this Minneapolis home.

By Mitchell Parker, Houzz

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