Whatever your reasons for buying, finding the right home in the perfect neighborhood, and at a cost that is within your budget, is no small task. But if you do your research and approach the process with confidence, you are much more likely to emerge at the end of the day with a house you’ll be proud to call home.
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Metro Denver is short by 10,000 listings.
The average number of homes for sale for this time of year in the Denver area, going all the way back to 1985, is 14,309.
Right now there are 4,084 residential properties on the market. This is a difference of 10,225 listings compared to the long-term average.
The peak was 2008 when there were 25,037 listings. The lowest year was last year with 3,878 (a drop of 21,159 in 9 years?!).
The good news for buyers is that inventory is up 5% compared to last year. Another piece of good news is that the Spring tends to produce the highest amount of inventory for buyers to pick from.
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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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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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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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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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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.
The post February Home Maintenance Checklist appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.
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 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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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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