Colorado Springs Real Estate Podcast With Brian & Tiffany Canady

Three negotiating tips to help Colorado Springs buyers win the home. Our Colorado Springs housing market can be very tricky for buyers right now. So here are three crucial negotiating tips to help you succeed: 1. Use a local lender. By using a local lender instead of a national one, you'll have better access to them, whether you call or show up at their office. Local lenders also have relationships with plenty of real estate agents in the area, so you'll know you're getting a good lender if your agent recommends one. Additionally, the term “cash is king” is often true, and there could be a local program that will help you pay with cash so you can compete with all the other cash buyers. There are many other reasons to use a local lender; these are just a few. Having a great relationship with your lender will only help you. “You need to work with a professional agent to negotiate a strong contract.” 2. Write a strong purchase contract. A local lender can help you with this too because they can provide a great program and help you close quicker. To make your offer stronger, you may want to consider waiving your inspection and buying the home as-is. Another tactic is to offer post-occupancy to the seller. They might need to find another home before moving, and allowing them to stay in their current house will shoot you to the top of the list.  You could also offer an appraisal gap, which means you'll pay the difference between the purchase price and appraised value. You need to work with a professional agent to negotiate a strong contract. 3. Form a relationship with a top agent. Relationships matter! The Pareto Principle states that 80% of consequences come from 20% of causes, meaning 20% of the agents in your area are doing 80% of the business. The top 20% know what sellers are looking for and the right questions to ask. Having a solid relationship with your agent will help you win negotiations. If you have any questions about buying or real estate in general, call or email us. We would love to help you.

Three great reasons why homes are not overpriced in our market. Today we're answering everyone's big question: Are homes in Colorado Springs overpriced? In short, no! That might sound shocking, but there are three great reasons why. Everyone has to live somewhere, and renting a house is quite expensive. When you compare the two, it's easy to see why owning a home is so attractive. When you own, you build wealth. When you rent, you build someone else's wealth. Homes might seem a little pricey, but remember that their price tags are based on supply and demand. If there aren't multiple offers flooding in for a home these days, it is either overpriced or in need of repairs. If there are lots of offers, the home will appraise and sell. On top of that, if you look at compound equity, a home priced today at $450,000 would be worth over $900,000 in 10 years. That's assuming an appreciation rate of 7%, which is pretty safe considering homes appreciated 17% last year alone.  If you're in the market to buy or sell, you want to work with trusted professionals. Call or email us, and we'll help you achieve your real estate goals.

Three ways that working from home has changed the Colorado Springs market. Today we'll talk about three ways in which working from home has changed the market in Colorado Springs. First, people are refinancing and using that money to update their living spaces. When you're home a lot more, you might end up wanting a nicer kitchen or a dedicated office space. We're also starting to see more buyers moving up. As people are coming together and creating more multi-generational living, we see an influx of higher-priced homes. Lastly, people who couldn't move here due to work are now able to. With many businesses now allowing employees to work from home, they get to choose where to live. We're seeing an influx of buyers from all over the country because they want to live in this beautiful state. If you have any questions, don't hesitate to reach out to us by phone or email. We look forward to helping you navigate through the buying and/or selling processes.

Three reasons why you should buy soon in our changing market. If you don't act soon, your dreams of buying could be gone. Here are three reasons why now is the time to make a move: 1. Interest rates are on the rise. The Federal Reserve recently announced that they'll have four rate hikes by July 1. 2. Rising rates mean less buying power. A 1% increase in your interest rate could cost you $50,000 in buying power. If you bought a $450,000 house now, your monthly payments would be about $1,900. Once rates go up, that same price and payment might net you a less valuable home in a completely different neighborhood or school district. 3. Property values appreciate 10% to 20% every month. This quick rate of appreciation emphasizes the previous point. With values appreciating so quickly, you could be losing even more buying power. If you have any questions, visit our website and don't hesitate to reach out to us by phone or email. We look forward to hearing from you.

What are the benefits of owning a second property and renting it out? Here are three reasons why you should buy an investment property and rent it out: 1. Short-term rentals like Airbnb and VRBO are on the rise. There's a lot of money to be made in short-term rentals and you can rent them out on your terms since there's no long-term lease. 2. It'll create passive income and build your net worth. Even more importantly, everybody needs a roof over their head, and you present options for them to do so. 3. Owning real estate will grant you huge tax benefits. Everything inside the home is deducted within seven years, and rental income is taxed at the lowest rate of any income. Don't let this market frustrate you. Get yourself an investment property today. If you have any questions about rentals, or if you're looking to sell or buy, don't hesitate to reach out to us.

Here are three tips on how to buy and sell a home at the same time. If you're a homeowner who's been on the fence about selling your home, you've probably been concerned about how little inventory there is in the market. After all, you don't want to sell your home without securing one to buy! Fortunately, you don't have to go homeless when you sell your home in this market. Here are three of our best tips for buying and selling a home at the same time: 1. Plan properly. Selling your home is a big deal, but it has the potential to be very stressful. Mitigate your stress by talking to a local lender before you go house hunting so that you know what price point to shop in. You should also speak to a local real estate agent to help you plan the specifics of your sale, like how much you can expect to sell it for and what your cash flow will look like. 2. Hire a professional real estate team to guide you through the entire process. We'll make sure to price your home appropriately to drive traffic through your doors so that we can yield the best terms and most money in the shortest amount of time. Then we can help you negotiate a post-occupancy agreement where you'll live in the home for up to 60 days (typically rent-free) while we hunt down your next property for you. “Don't let buying and selling at the same time hold you back from building your wealth in real estate.” 3. Make sure to get a post-occupancy agreement. This is huge; depending on how much equity you had in the home when you sold it, you could have several thousand dollars in cash that may allow you to be a cash buyer for your next home. Not only that, but your offer on the new home also wouldn't be contingent on the sale of your first one, making your offer that much stronger. Don't let buying and selling at the same time hold you back from building your wealth in real estate today. If you have any questions or would like more information, please feel free to reach out to us. We'd love to help you.

Homeownership can help you build wealth, and here's why. It's no secret that the real estate market is incredibly hot right now, but that doesn't mean it's not a good time to buy. In fact, it's a fantastic time to jump into the market and find the home of your dreams at an affordable price. Real estate is one of the most effective ways to build wealth. Here's a statistic that illustrates why: Among people who make around $50,000 per year, those who own homes have an average net worth of around $190,000. Those who rent, however, have an average net worth of around $11,000. Year to date, home appreciation has risen 18.1% in El Paso County, and it's only continuing to increase. Fortunately, interest rates are at historically low rates, but these are expected to rise in the future. Here's an example of the difference interest rates can make: If you buy a home for $400,000, the difference between a 3% and 4% interest rate is $26,000 over a 10-year period.  For these reasons, it's a good idea to get into the market now. “Real estate is one of the most effective ways to build wealth.” If you're ready to buy a home and take advantage of double-digit appreciation, we're here to help you throughout the entire process. Feel free to reach out to us with any questions you may have in the meantime. We look forward to hearing from you soon.

There are differences between appraisals and inspections on homes that you should know. What’s the difference between an appraisal and an inspection? An appraisal is the bank’s value of the home, and inspections are far more specific. We usually recommend three different inspections to our clients. First, a general inspection is when an inspector nitpicks the house and finds everything wrong with it. Second, a sewer scope inspection is when a professional will look through a sewer scope to check whether there are any cracks, breaks, or trees growing through the sewer. The third is a radon inspection; radon is a naturally occurring gas here in Colorado, and high levels of it can be dangerous, so an inspector will ensure the levels are safe. Having these three inspections done in the beginning can save you between $3,000 and $5,000 later. An appraisal is the bank’s inspection of the property. Instead of assessing windows, faucets, and roofs, they’re looking at comparable sales and your home’s square footage. They’re also searching for any reason that the house may not be livable, such as holes in the walls. The bank wants to know the value of the property in general, not every little thing you may want to repair. If you have any questions about appraisals, inspections, or real estate in general, call or email us. We would love to help you.

Today I'm sharing three ways to build up the equity in your home faster. Today I’m discussing equity; the more equity you have, the more cash you get when you sell your home. You can also take out a loan against some of your house’s equity and use it on something you want or need. There are three quick ways to build equity: 1. Make bi-weekly mortgage payments. There are 52 weeks in a year, so if you make half a mortgage payment every other week, that’s 26 half payments. 26 half payments equal 13 full payments, which is one more than you would make if only paying your mortgage once per month. You won’t even notice this extra payment, and you’ll never be shelling out a full payment all at once. The more mortgage you pay, the more equity you have. 2. Renovate your home. Maybe you want to improve a bathroom or the kitchen; that adds value and therefore equity. 3. Refinance into a 15-year loan. After you’ve owned your home for a while, you can refinance from a 30-year loan to a 15-year, which builds equity much faster. “The more equity you have, the more cash you get when you sell your home.” If you have any questions about equity or real estate in general, please let us know via phone or email. We would love to help you.

The Colorado purchase contract protects homebuyers in three ways. In the state of Colorado, our purchase agreement is designed with homebuyer’s best interests at heart. Here are three ways that it protects you: 1. Purchase price. Suppose you offered $10 million on a house that was only worth $200,000. If the appraisal comes back at that value, you’ll be protected from overpaying, allowing you to renegotiate the price based on its appraised value. 2. Dates and deadlines. The dates and deadlines in the agreement are there to protect you. If we don’t come to an agreement with the seller before the deadline is set, we can back out of the contract to protect your earnest money. 3. Due diligence and inspection. It’s critical during the due diligence period that you check for things like schools, crime, walkability, and resale value. During your inspection, you get several tests done, including tests for things like lead, the sewer, the roof, and more. That way, you know what you’re buying and can use these items to negotiate with the seller to get some repairs done or to reduce the purchase price. If you can’t come to an agreement, you can always exit the contract. You need to understand the contract, which is why it’s necessary for you to have professionals on your side to guide you through the process. If you’re in need of real estate assistance, reach out to us. We’d be happy to be your guides. Until then, happy home buying!

Here’s what to know about APR, interest rates, and mortgage insurance. If you’re unsure of how a monthly mortgage payment is calculated, then today’s message is for you. When it comes to mortgages, there are three important factors to know, two of which are very similar. First, an interest rate is the rate you pay the bank for the amount of money that you borrowed. Think of interest rates as a monthly recurring fee on how much money you have to pay back. APR, on the other hand, is a little bit different, and often people get these two concepts confused. APR is the interest rate plus some of the costs that you may be paying to get that interest rate, like banking fees. Think of APR as the total amount of money you’re borrowing over the life of the loan. Usually, APR is expressed as a percentage, and it’s always good practice to compare APR between lenders. “Think of an interest rate as a monthly recurring fee on how much money you have to pay back.” Also, let’s not forget about mortgage insurance. It can be a huge addition to your monthly payment, and it also has a rate. Make sure you ask your lender what your mortgage insurance rate is and how long it will remain on your loan. Hopefully, these quick pro tips clarified these core mortgage concepts! Reach out to your local lender to get the information you need. As always, if you have any real estate-related questions we can assist with, feel free to give us a call or send an email. We’ll talk to you soon!

We’re sharing three ways you can succeed in real estate and life during the pandemic. Today we’re coming to you from our basements to discuss three ways to succeed in real estate and life amid a quarantine market. We’ve been in a seller’s market here in Colorado Springs for a long time, but we’re going to see it shift into a buyer’s. You can still buy and sell in this market! People are moving more into the virtual world, but if you need to conduct real estate business, now’s the time. Interest rates are projected to be great throughout the year and even into next year. If you have any questions, don’t hesitate to reach out. We look forward to hearing from you.

Here’s the truth behind iBuyers and their automated valuation models. An iBuyer is a real estate investor that often buys the home quickly using cash. They use an AVM, or automated valuation model, popularized in the form of Zillow’s Zestimate. Typically, an iBuyer will purchase the home without ever having seen it. Having someone offer cash for your house sight unseen seems easy, but watch out for scams. There’s a lot of fraud that floats around in the real estate industry, like wire transfer fraud. If you do decide that an iBuyer is the best route for you, make sure you go with a reputable one and close only at a local escrow or title company; never, ever, ever wire your money out somewhere. “The average consumer that takes an offer from these iBuyers takes 13% to 15% less than the value of their home.” The reality of the iBuyer program is that it’s not as sexy as it sounds. According to Forbes, the average consumer that takes an offer from these iBuyers takes 13% to 15% less than the value of their home. That’s massive! These iBuyers will also order an inspection, point out all of the issues they want fixed, and if you refuse, they’ll take even more off of their offer. It’s not a great deal. It’s important to be educated about what really occurs in these transactions. If 13% to 15% less than your home’s value sounds appealing, go for an iBuyer’s offer. Then again, you could go with a trusted team of professionals to represent you. Don’t leave money on the table! Reach out to us by phone or email anytime if you have further questions about iBuyers or are interested in buying or selling soon.

We’re sharing three great reasons you may want to consider buying a home in Fountain, Colorado. We love Fountain, Colorado! Here are three great reasons you should consider buying a home in Fountain: 1. Personality of a small town, convenience of a city. Fountain has the personality of a small town but is close to anything you may want. It’s just down the road from downtown Colorado Springs, a quick drive to the Colorado Springs airport, and minutes away from Fort Carson’s Gate 20. “Fountain has wonderful opportunities to build wealth and become a homeowner at a great value.” 2. Location, location, location. Fountain is close to everything, the median list price is $298,000, and the average house size is over 2,100 square feet. You get a ton of bang for your buck. Homes are currently staying on the market for just eight days, so you have to move quickly if you want to buy in the Fountain area. 3. Investment opportunity. There’s a reason houses in Fountain are only on the market for a short time. You currently have to pay an additional $29,000 to buy a home in Colorado Springs, which is just 10 minutes away. Fountain has wonderful opportunities to build wealth and become a homeowner at a great value. It’s crucial to do your research no matter where you want to buy a house in Colorado. The first thing you should do is start with a team you trust to help you with the process. Start with us! If you have any questions about Fountain or real estate in general, please contact us via phone or email. We would love to help you!

Here are the three things you should never do when buying a home. When it comes to purchasing a home there are three mistakes you should always avoid making during the process if you want to succeed: 1. Go on vacation. If you’re going on a vacation to Greece during the process of buying a home it will be very hard to complete the purchase. We can’t do everything on your behalf, and being far away makes coordination difficult. Wait to go on vacation until after you’ve closed on your home if you want to avoid undue stress. 2. Don’t pay off any debts. This may sound crazy, but it’s not. If you pay off a debt entirely, that will impact your credit—for better or worse, we don’t know. Consult your loan officer before you pay off anything. 3. Don’t finance any large purchases. Be it a new car or furniture for your new home, don’t take out any additional lines of credit. “We can’t do everything on your behalf.” If you’re careful to avoid these mistakes, your home purchase may go off without a hitch. Feel free to reach out to us with any questions you have about the home buying process. We’d be glad to give you our professional advice and help you end up in the home of your dreams.

If you’re buying or selling in our Colorado Springs market in 2020, here are three insider tips to keep in mind. As we begin 2020, there are three key points to know about our Colorado Springs market. First, there will be an inventory shortage, which means we’ll see more multiple-offer situations. America’s Space Force is coming to town, and with it, its 15,000 personnel and their families. We don’t know where they’re going to live, but our team is ready to help all of them! In any case, be ready for this shortage. Next, the forecast remains good for interest rates. 2019 ended with fantastic rates, so you might expect that they can only go up from here, but they’re predicted to stay low. This means that even though home prices are rising, buyers will still be able to afford more house and make competitive offers for the houses they’re looking at. “Contact your real estate professional to ensure you’re in good hands going into 2020.” Lastly, whether you’re a buyer or seller, it’s important to be prepared. We know that interest rates are low, so buyer demand will be high, but we have no inventory. What does that mean? As we said above, there will be a lot of multiple-offer situations. If you’re a buyer, it’s important to have an agent on your side to help guide you through these situations. If you’re a seller, it’s important to know where you’ll go after you sell. As with buyers, it’s crucial to have an agent by your side to help with your preparation and guide you through the process. Contact your real estate professional to ensure you’re in good hands going into 2020. If you don’t have an agent, give us a call and we’d be happy to assist with all your real estate needs. We’d love to speak with you.

Loan limits are increasing in 2020 for conventional, FHA, and VA loans. Here’s what you need to know. Loan limits are increasing in 2020. What does that mean? First, there’s a difference between your purchase price and your loan limits. For instance, conventional loans have increased; in 2019 the limit was $484,000, and in 2020, the limit is $510,400. That’s over a 5% boost in just one year. If you don’t have the 20% down for a conventional loan, an FHA product is an excellent option. It’s 3.5% down and those limits are increasing, too. In 2019, they were $339,250. In 2020 they are $356,500, a 5% escalation. This helps your buying power when you’re purchasing a new home with an FHA loan. Finally, let’s talk about the VA product. The VA loan limits have had a 247% increase from last year. In 2019, the limit was $484,350. In 2020, it is $1.2 million (that’s 100% financing up to $1.2 million)! That also works if you have multiple VA houses, meaning you can go up to that number collectively. “The VA loan limits have had a 247% increase from last year!” One thing to think about with VA loans: They allow up to $1.2 million, but not every bank will allow that high of a number. Check with your loan officer to confirm they have the product to get you all the way to $1.2 million. If you’re in the market and you’re looking to buy in 2020, go explore your options with your local lender. Happy home hunting! If you have any questions for us about loan limits, please don’t hesitate to reach out by phone or email. We would love to help you!

Today we have a special guest with us—Jennifer from Bill’s Plumbing and Drain Service—to help give you three tips that homeowners should know about their plumbing.   1. What is the best solution for tackling smelly drains? Sometimes when I go into a home, I register a smell coming out of the drains. My first instinct is to pour some Drano in them to try to get rid of whatever is causing the odor. Jennifer , our expert from Bill’s Plumbing and Drain Service, says that Drano is a pretty harsh chemical; if you pour it down the drain, it will eat away at whatever is clogging the pipes, but it will also eat away at the pipes themselves. A better solution is actually just water, Jennifer says. You can fill a big pitcher with warm water and throw a little bit of lemon juice or vinegar in there, then pour the solution down your drains—especially unused drains like your floor, guest bathroom, and laundry drains. Sometimes those don’t get wet, causing the P-trap to dry out and create an odor. Sealing the drain with a bucket of warm water will help take care of the smells. 2. Why is it important to have a sewer scope when you purchase a home? Jennifer says its importance is for checking the integrity of the sewer line to make sure there aren’t any issues with it. Spending around $150 dollars for peace of mind is well worth it when the alternative is an $8,000 to $10,000 repair. Is it necessary for newly constructed homes? Jennifer says there’s a common misconception that, for new homes, everything is new, so why check it? But actually, it’s always a good idea to check for potential issues, even in new homes.  A sewer scope can help you discern if debris from the construction process is causing problems in your system. You’d be surprised what can get in your sewer lines; you don’t want to buy a home and move in only to discover a costly issue. Make sure to check it out before signing those papers. “Drano is a pretty harsh chemical; if you pour it down the drain, it will eat away at whatever is clogging the pipes, but it will also eat away at the pipes themselves” 3. What’s the difference between a sewer scope and an actual clean-out of a sewer line? Sewer clean-outs are done when you have such problems as root intrusions or other blockages in your sewer lines. Though many people think that a sewer scope is the only thing they need to do, you do need to make sure that the lines down to the sewer main are clear. It’s important to do an annual maintenance check, especially if you live in an area with lots of trees, to be sure you won’t have any backups.  Staying on top of your drain maintenance with these tips should help make your life as a homeowner easier, safer, and cheaper, as well. If you have any questions for Jennifer at Bill’s Plumbing and Drain Service, be sure visit their website. For other questions about real estate, feel free to reach out to the Homebound Team. We’d be happy to answer any questions you have.

In today’s hot market, is hiring an agent really necessary? Actually yes, and today we’ll explain why.   In a fantastic market like the one we’re in right now, why would someone need the help of a listing agent to sell their home? Actually, the truth is that a lot more goes into listing a home than simply sticking a sign in the yard and waiting for buyers to flock in. In the average real estate transaction, there are usually about 50 people involved in getting the deal from contract to close. Inspectors, appraisers, Realtors, and a number of other professionals all play a role in making sure things go smoothly. With that in mind, it’s no wonder why trying to take on all of the work alone is a poor choice. When you forgo the help of a professional agent, you’re doing more work and earning less money. “Listing alone is no replacement for selling under the guidance of a professional agent.” When you work with our team, we’ll have your home cleaned, staged, and professionally photographed—all to make sure you see the best results possible for your listing. We also use a number of advertising tools in order to attract maximum exposure. All in all, listing alone is no replacement for selling under the guidance of a professional agent. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Conditions have begun to even out in our real estate market, and today we’d like to share what this may mean for you.   It’s time for another market update, and we’ve got some interesting developments to report today. After rising for a few months, prices are beginning to level out. From a lending standpoint, this is a very good thing. When prices are on the way up, a lot of appraisals come back short. But now, homes are more likely to appraise, and this allows more people to proceed through their home purchase with fewer issues. “Overall, our market is still in good shape.” We’re also currently seeing some advantageous conditions for sellers. Even though conditions have evened out, homes are still selling quickly and multiple offer situations are still quite common. Overall, our market is still in good shape. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Buying a home within an HOA comes with pros and cons. Here are a few things for you to consider. If you’re thinking of buying a house within a Homeowners Association (HOA), there are a few things you need to know first: 1. What’s the cost? It could be $100 per month or $500 per month. This could impact your loan and it’s a real fee you have to pay each month. 2. What does the cost cover? Do they mow the lawn and remove snow, or just basically manage the community? “HOA dues can definitely impact your loan.” 3. What kind of restrictions are there? The biggest one that we see has to do with investors buying townhomes. A lot of them get all the way to closing before finding out that the HOA doesn’t allow non-owner occupied investment properties. We also tend to see pet restrictions. In the end, make sure you do your due diligence, read your documents, and make sure that you can lean on your agent to help you. We want to make sure that if you do buy in an HOA, they do a good job at maintaining the value of your home and increasing its value. If you have any questions for us or want to learn more about buying a home within an HOA, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

What three things must buyers know before purchasing property with a VA loan? Today we’ll explain.   If you plan on buying a home using a VA loan, there are three things you must know. Before we elaborate on these points, though, we would like to extend our sincerest thanks to all of our nation’s service members and their families. Without each of you, we wouldn’t have the opportunities in life we do today. With that said, let’s take a look at the three things you should know when purchasing property with a VA loan: 1. VA loans do not require a down payment. However, you will need to provide funds for closing costs, and the property must be purchased as a primary residence. 2. VA loans do require a funding fee. You will have to pay 2.15% of the loan amount to the VA program. If you use a VA loan a second time, this funding fee will be 3.3%. Keep in mind, though, that this fee will be waived for veterans with disabilities recognized by the VA. 3. VA loans are assumable. This is awesome, because, with interest rates and home values on the rise, your home may be more appealing to buyers if you choose to sell in the future. “While it is true that VA loans must be used to purchase a primary residence, you can still make a second purchase using the VA loan again later on.” Now that you understand these three facts, we’ve also got a bonus point to share with you all. Did you know that you can purchase more than one home using the VA loan? While it is true that VA loans must be used to purchase a primary residence, you can still make a second purchase down the line on another primary residence. Best of all, you may keep the first home you purchased using VA financing. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Home types and loan types—what do you need to know about them?   If you have a VA or FHA loan, there are certain requirements that you need to fulfill in order to get the money, such as the condition of the home. As agents, we take note of the condition of the home, looking at things such as peeling paint, torn carpets, broken handrails, and window problems, while walking through a home with a buyer using a VA or FHA loan. When you’re using an FHA or VA loan instead of a conventional loan, you’ll have limitations on how much you can actually spend. For example, FHA loans have different limitations in El Paso County that are different from Denver County, Arapahoe County, or Pueblo County. Be sure that the type of loan that you want is going to be in alignment with how much you want to spend. Confer with a real estate and mortgage professional for clarity about whether the loan you want is going to work in your favor. “It is very important to speak with your agent and lender about this before applying for a loan—to make sure that your loan type and home type mesh well together.” As far as home types, you’re probably aware of the most common: single-family homes, condos, and townhomes. Each of these types differ in a few ways. For single-family homes, you need to make sure that the condition is good. Condos and townhomes, on the other hand, have certain other requirements, like: HOA dues Delinquency dues The number of owners who live there Adequate insurance coverage This is why it is very important to speak with your agent and lender about this before applying for a loan—to make sure that your loan type and home type mesh well together. If you have any questions about this or other real estate topics, please feel free to reach out to us. We’d be glad to help.

Do you have a Ring™ doorbell? You should know that the video from the system is not usable in a court of law in the State of Colorado.   We are joined by Ryan Byes of WatchPoint Surveillance to teach you the difference between a standard Ring™ doorbell and a true security system. To start this conversation, is there a difference between the cheap Ring™ doorbell that I have and love versus a true security system? Ryan says there is one really marked difference. While the Ring™ doorbells are great for some applications, the video footage is not court admissible in the State of Colorado. This means that if someone steals something from your front porch, you cannot use the footage in court. Why? According to Ryan, Ring™ doorbells do not meet two requirements of Colorado state law to be used in court. The first is a time and date stamp. And the second is a watermark. The watermark proves that the video has not been tampered with. “Ring doorbells do not meet two requirements of Colorado state law to be used in court.” Which would you rather have? Brian thinks that the court admissible option is better. Also, the Ring™ system is a monthly service and therefore requires a monthly fee for storage. Meanwhile, Ryan tells us that an actual security system will not require a monthly fee and will record high-quality, HD images which can be viewed through an app. If you are considering which security system you want, you should contact Ryan at WatchPoint Security by calling (719) 579-6540 or online at watchpointdata.com. If you have any questions or comments for us, please contact us by phone or email. We look forward to speaking with you soon. Ryan ByesWatchPoint Security(719) 579-6540watchpointdata.com

Security is a critical aspect of home ownership. Today we have a special guest to discuss some safety solutions to help protect you, your home, and your family.   Do you have a plan for keeping your family safe in 2018? Today we are joined by Ryan with WatchPoint Surveillance to discuss a couple of security options for you to consider. For one thing, you may want to pursue the use of a home security camera, like the exterior-rated, four-megapixel high definition camera featured in the video. Ryan recommends HD cameras like this one because the increased resolution will give you a clearer view of anything it captures. Also, this particular camera is small and unobtrusive, making it easy to hide under the eaves of your home. In terms of data, footage can be stored on an SD card or the camera can be hooked up to an NVR cable. “Do you have a plan for keeping your family safe in 2018?” Cameras like this tend to cost between $90 to $100, but Ryan advises having more than one camera when setting up a surveillance system for your home. For a four-camera system, the total cost would amount to about $1,000, including installation. Then, once the system is installed, there are no future fees. The mobile app to view footage captured by the camera is also free. To contact Ryan or his team at WatchPoint Security, you can reach out by phone at (719) 579-6540 or by visiting watchpointdata.com. And, as always, if you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon. Ryan ByesWatchPoint Security(719) 579-6540watchpointdata.com

Have you heard of the HERS Rating? Steve Beck explains what it is and why it is important.   We are joined by Steve Beck, sales manager for Creekstone Homes, today to discuss the HERS rating. What is the HERS rating? HERS stands for Home Energy Rating System. It is an independent test of homes for their energy efficiency that gives you a way to objectively quantify the performance of a home. The lower the number on the HERS scale, the more energy efficient the home. For a consumer, it takes away some of the flash from buying a home and helps you understand how your house is going to perform. “The lower the number on the HERS scale, the more energy efficient the home.” Let’s say my home is ten years old and has a poor HERS rating. Is this a test I can do after the fact, or do I need to be doing this upfront? A home is inspected several times during the building process. They inspect during the foundation, mechanicals, and then also at the very end. The HERS test would need to be done from the very beginning of the building process. I would like to thank Steve of Creekstone Homes for joining me and telling us about the HERS rating. If you have any questions, please feel free to comment below or contact us. We look forward to speaking to you soon.

Today, we’re talking with Steve Becht, who is the sales manager at CreekStone Homes, about some things people should think about when building a new home. According to Steve, the process of building a new home is very slow in the beginning. There’s a lot that goes on behind the scenes, such as working on permits. However, things slowly begin to ramp up as time goes on. What most people imagine when they think about building a home only really makes up the last couple months of a six- or seven-month process. Often when people walk into a model, or “prop”, home, they ask themselves, “Is this when I get when I want to build a home?” “If you want the home you’re building to look exactly like the model you saw, you should plan on paying a little extra.” Actually, this is one of the myths of home building. If you want the home you’re building to look exactly like the model you saw, you should plan on paying a little extra. Model homes can be upgraded from anywhere between $30,000 to $100,000. Ultimately,  it’s up to you how much you want to spend upgrading a new construction home. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.  

Today, we’re excited to be joined by special guest Steve Becht, the sales manager for CreekStone Homes, to talk about whether people need to work with an agent when buying a new home.  According to Steve, working with an agent when purchasing new construction isn’t a necessity, but it is highly preferable. People on the build site are working on behalf of the builder. If you aren’t working with an agent of your own when you purchase new construction, you aren’t being represented in the transaction.  Involving an agent will make the transaction move more quickly and more smoothly. Contrary to what some may think, buyers do not get a better deal by forgoing representation and working directly with those who are representing the builder.  “Working with an agent when purchasing new construction isn’t a necessity, but it is highly preferable.” In fact, the builder and the professionals who represent them tend to prefer working with buyers who are represented.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Today, we have a special guest with us: Curry, from Topcat Chimney Service. He’s going to tell you what you need to know when doing a chimney sweep. “A chimney inspection is very thorough,” Curry says. “We get up on top of the roof and then go down inside the firebox. We get our head up through the damper, or the flue, and make sure that there aren’t any cracks or missing pieces in the flue liner.” “It’s really important to make sure that the chimney is tight.” “Additionally, we make sure there’s a cover, or spark arrestor; that there aren’t unwanted critters living inside your house; and that there isn’t any moisture accumulating inside your chimney.” Whether you use your fireplace or not, it’s really important to make sure that they chimney is tight. If you’re in need of chimney service, feel free to contact Curry,whose information can be found on Topcat’s Facebook page. If you have any other questions or real estate needs, don’t hesitate to reach out to us. We’d be happy to help you.

Today we’re here with Dylan Margerum from Peak Home Inspections to discuss why it’s important to do a home inspection.  Getting a home inspection isn’t required when you get a home loan, but we highly recommend it.  When Dylan inspects a house, he checks everything from the roof to the foundation. He looks at HVAC systems, plumbing, electrical systems, and more. “Anything we can get our hands on, we check, we inspect,” says Dylan.  It is so important for the buyer to do their home inspection and do their due diligence. If there is a problem with the roof, it’s much better to spend $150 on a home inspection rather than thousands of dollars on repairs.  “You can use the home inspection report to negotiate with the seller.” You can also use the home inspection report for negotiation purposes. If you want to move forward and buy a house that needs a new roof, you can ask for a new roof. If there’s hail damage, we can send pictures that Dylan takes. If you need the furnace to be fixed, we are able to send that over.  If you have any questions for Dylan, you can reach him at (719) 495-0042. As always, if you have any real estate questions for us, just give us a call or send us an email. We would be happy to help you.

What are the three best renovations projects to do if you plan to sell your Colorado Springs home? The first thing you want to do is get your priorities straight and focus on the bones of the house. Make sure the electrical systems, furnace, and roof are all in working order before you put money into any other renovation projects. Next, protect your house by paying attention to your siding and the front door. Updating the siding and front door gets a little over 90% return on investment, so your curb appeal definitely plays a part. “If you have a great kitchen or master bathroom, buyers may overlook other issues in the home.” Finally, if there is room left in your budget, focus on kitchen or master bathroom renovations. Buyers pay attention to kitchens and master baths, so if you have a really great kitchen or a good master bathroom, buyers may be willing to overlook other problems. Kitchen and bathroom remodels can get you about 100% or more in return on investment. If you have any other questions about preparing your home for the Colorado Springs real estate market, give us a call or send us an email. We would be happy to help you!

2017 was a fantastic year. Today, let’s take a look at the projections for the 2018 real estate market. It’s going to be a strong seller’s market again in 2018. Inventory is still pretty low compared to where it needs to be. Actually, our housing inventory across the United States is consistent with the housing supply of 1994. However, there are 63 million more people living in this country, so we cannot build homes fast enough. In other words, if you’re a seller and you’ve been on the fence, make it happen. If you’re a buyer, not all hope is lost. Interest rates are fantastic. These are some of the lowest rates we’ve ever seen. In addition to that, loan limits have increased. Going into 2018, FHA loan limits are at $304,750. Fannie Mae, Freddie Mac, and VA loans are up to $453,000. These new loan limits are fantastic. “2018 is projected to be one of the top three years for real estate in the last 100 years.” Another thing to consider is that the average homeowner’s net worth is 49% higher than the average renter’s net worth. So, jump into the 2018 real estate market! Finally, new construction is the highest it’s ever been—up 10% across the nation Like we said earlier, they just can’t build them fast enough. 2018 is projected to be one of the top three years for real estate in the last 100 years. We want to be part of that and we want to help you reach your 2018 real estate goals. If you have any questions, please don’t hesitate to reach out to us. We would be happy to help you!

Today, we want to take a minute to spread some holiday cheer.  Thank you for taking the time to watch us goof around while creating educational videos.  Please send us your input. Tell us what’s important to you and which topics in the real estate and mortgage world you would like to learn more about. Just send us an email.  “We wish you and your family a happy, healthy holiday season.” Most importantly, we want to wish you and your family a happy, healthy holiday season. So, Merry Christmas, Happy Hanukkah, Happy Kwanzaa, and a Happy New Year, too!

There are a lot of variables to think about when considering replacing a carpet and whether it will give you the best bang for your buck. As a seller, it depends on the price point you want to hit. A different tactic we use sometimes for our sellers is to have them provide their buyer an allowance for flooring. Oftentimes, the replacement carpet you pick might not be the type the buyer wants. They might not even want carpeting—they might prefer hardwood instead. Besides offering a carpet allowance, you can also offer to reduce your home’s price by however much it would cost to replace the carpet. “A different tactic you can use is to provide a flooring allowance.” Before you do anything, consult with your real estate agent to find out the best approach for you. If you have any more real estate questions for us or you’re thinking of buying or selling a home in our Colorado Springs market, don’t hesitate to reach out to us. We’d love to help you.

As the weather gets colder and the days get shorter, we wanted to make sure you were aware of a few things you should be doing in your home before it starts getting too cold. We were recently joined by our friend, Eric Kaiser of High Altitude Heating and Air, to give you three steps to keep your house safe and warm this winter. Let’s get to the list! 1. Have your thermostat checked. During your regularly scheduled service maintenance appointment, I would also have the technician check your batteries and make sure that everything is working properly. 2. Don’t forget to check your filter. It’s the life breath of your HVAC system. It should be changed every few months. 3. Reach out to a professional like Eric. We always encourage you to reach out to a professional like Eric, who can help you with all of this. He will be able to check your furnace for safety, proper operation, and do a carbon monoxide check as well. “We always encourage you to reach out to someone like Eric.” If you have any questions for Eric or need his help getting your home ready for winter, give him a call at (710)-357-6465. If you have any other questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

To winterize your home’s sprinkler system and avoid costly damage, there are three steps you need to take. You can follow along in the video above as landscaping expert, Aaron Strong demonstrates these steps on a typical home sprinkler system. First, go inside your home’s utility room and find the sprinkler feed that runs from the inside to the outside of the house. Shut off the feed by flipping the lever 90 degrees so it runs parallel to the pipe. Next, open up the drain beneath the lever by unscrewing the cap. Put a bucket underneath the drain to catch any excess water that trickles out of the pipe during steps two and three. Second, move to the outside of the home and turn off the valves on your backflow preventer and sprinkler manifold. You can shot off the valves on your backflow preventer by turning them to a 45-degree angle. This will prevent any water that could be behind the ball valves from freezing by allowing it to escape. Turn the screws on the backflow preventer to a 45-degree angle as well. Some systems have a valve at the bottom of the pipe leading back into the house and some don’t, but if yours does, unscrew the cap and let the excess water drain out. “Not winterizing your sprinkler system can cause potential catastrophic damage to your foundation.” Some valves for the sprinkler manifold have automatic drains and some don’t. If yours has a manual drain, open it up so it drains all of the water out of the pipes in the manifold and there’s nothing left that could potentially freeze and bust the pipes. Lastly, go back inside the utility room and make sure the valve is open and draining properly. That will allow the water that’s in the line to drain so there’s is no water outside in your backflow preventer. When that’s done draining, your system will be winterized and ready to go. If you have any questions for us, please don’t hesitate to call or email us. We’d be happy to help you.

Today we’re bringing you some quick tips on how to prepare your home for resale.  The first thing you need to do is go walk a model home. Builders spend a lot of money staging their model homes. What better place to get ideas? Best of all, this is free. Next, declutter. Less is more.  You have definitely filled your home with lots of love and memories. But when people enter your home, they want to see themselves in it. You’re going to be moving anyway, so decluttering can help you expedite the process. “When people enter your home, they want to see themselves in it.” Third: clean, clean, and clean some more. Focus on faceplates, light fixtures, bathrooms, and any other spaces that need it. What are buyers going to notice when they walk into your home?  You want to make sure your home is sparkling before buyers go through the door. If you have any questions about preparing your home for resale, don’t hesitate to reach out to us. We’d be happy to help

There are three things in particular that you need to know about your money when buying a home: 1. You want to have all of your money come out of the same account. There will be a down payment, earnest money deposit, and closing costs. If they all come out of the same account, it will save you a lot of paperwork and headaches and make the transaction a lot smoother. 2. Keep the money in the same account for at least 60 days if you can. During that time, the money seasons so the lender doesn’t have to source where all the money is coming from during the transaction. We don’t want to be tiptoeing any of those anti-money laundering laws. 3. Avoid transferring money between accounts. We want to make sure that the money you bring to closing is in the same account that your earnest money came from. It makes the process cleaner, faster, and smoother for you. “Avoid transferring money between accounts until your sale is closed.” That’s all we have for today. If you have any questions for us or you’re interested in buying or selling a home, give me a call or send me an email. I would love to hear from you.

Today, we’ve got three essential tips that will help you win in a hot seller’s market. First of all, it’s incredibly important that you work with a local lender. In multiple offer situations, sellers are always going to choose an offer where the buyer is working with a local lender. A lot of buyers are in the market right now. However, inventory is low, which means demand is very high. This has led to over-bidding and several multiple offer situations. A recent statistic reports that every listing at $250,000 has more than 79 buyers. “A listing at $250,000 will have more than 79 buyers.” Therefore, buyers should be prepared to bid above asking price. Thankfully, we’ve got some tricks up our sleeve to help you compete. Outside of having a local lender, the next best tip is to not be defeated. We often tell people to plan on missing out on three homes.  Be prepared to miss out for a while, but eventually things will work out. The market is tough but great professionals can help you navigate this hot seller’s market. If you have any questions, just give us a call or send us an email. We would be happy to help you!

Today we want to shed some light on why it’s important to have a buyer’s agent. The best part of working with a buyer’s agent is that it is free to you. The seller’s actually pay us to bring them qualified buyers to sell their home. So, most of the time, you can work with a buyer’s agent for free! Now, in Colorado you can be represented by a buyer’s agent, a seller’s agent, or a transaction broker.  When you work with a buyer’s agent, you have an advocate in your corner who is looking out for your best interests and has fiduciary duties to you, not the seller. “A buyer’s agent will work with your best interests in mind.” Another benefit of working with a buyer’s agent is that when you go to a lender without any representation, that can make things more difficult. Lenders like to work with agents who have been through the process a number of times. If you go in without representation, you won’t have someone to guide you through the lending and buying process. If you have any other questions about working with an agent or buying a home, just give us a call or send us an email. We would be happy to help you!

Any real estate transaction will come with three upfront costs: Earnest money: This is like a security deposit you pay as if you were renting. Usually, it’s 1% of the purchase price and acts as a safety net for the home sale so you can move forward with the transaction. Home inspection: This is a huge part of the process and the cost usually depends on the size and age of the home. It’s usually around $300 to $500, but it’s the best money you’ll spend throughout the process. Your due diligence is an important part of buying a home, and during inspection periods you can also do sewer and radon tests. Appraisals: You’ll have to pay for this requirement if you’re getting a home loan. The appraiser will go to the home and opine what it’s actually worth, and the cool part is that it will keep you from overpaying for the house. This typically costs between $550 and $800. “Home inspection costs are the best money you’ll spend during the whole process.” If you have any other questions about the costs of buying or home or you’re looking to sell your house, give us a call or send us an email. We’re happy to help!