07.21.08
Posted in Colorado Springs Real Estate at 8:18 am by Angela Byrne
I’ve seen how clutter can kill a home sale. Too much “stuff” can distract visitors and detract from their experience in the home. So, prior to putting your piece of Colorado Springs real estate on the market, why not have a great yard sale? Clearing out the house will not only provide you with a little fun money but chances are you’ll net more in your home sale, as well. This is how preparing a yard sale coudl make you thousands.
Here are a few things to remember:
1. Check your neighborhood rules and regulations to make sure you can have the yard sale when you want to. See if they have any signage restrictions, etc. that may affect your marketing.
2. Prepare ample signage to advertise the yard sale and your location. If you are off the beaten path, you may consider putting an ad in your community paper. Always advertise the sale online (on sites like CraigsList.com that are free).
3. Pick up plenty of change (especially quarters, one’s and five’s) so you can make change for purchases.
4. Label all items with price tags. You will always make more at the sale by starting the bidding (other than having visitors suggest sale prices).
5. Keep things in the driveway instead of in the garage. More people are likely to stop if you have plenty of tables and racks in full view from the road. Not enough stuff? Combine your sale with a few neighbors. You will get fewer drive-by’s and more visitors if it looks like it’s worth their while to stop.
6. Organize clothes by size. If parents are looking through clothes for their kiddos, make it easy for them to find everything in one spot. Their browse faster and will purchase more.
7. Keep pets inside. I can’t tell you how many times, I’ve had a “friendly” dog run me off from a good yard sale before I was really done looking. If you can keep them in the house, you’ll have more comfortable visitors.
8. Set the atmosphere with music. Invite neighborhood children to sell snacks or coffee.
9. Finally, call a local thrift store and schedule a pick up after the sale is over. You do NOT want to be carting these items back in the house. Afterall, the purpose of the sale is to de-clutter the house. Resist the temptation to hold on to things that you will never use again.
A little planning goes a long way for yard sales. You can even spread the work out over time if you think in advance. It’s worth your time and effort to clear out the house and make your home more saleable. If you have questions about getting your home on the market for sale, complete our Seller Packet Request and we’ll get a free copy to you ASAP.
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07.09.08
Posted in Colorado Springs Real Estate at 11:59 am by Angela Byrne
Courtney, our Buyer’s Agent, sent me this message from Chris Starks. Starks is a Senior Loan Officer with First Class Financial Services.
He writes to Realtors, but I thought the information was interesting and useful:
I hope this finds you doing well. We have received some great news from Fannie Mae - the Denver metro area as a whole is no longer considered a declining market…..this includes all counties other than Weld County and the Pueblo area. There are a few pockets in the state that are considered a declining market and it is on a case by case basis. As long as the investors automated system and the appraiser do not say it is a declining market then we are good! You can call me with the zip code of a property and I can tell you if it is considered declining or not.
What does this mean to your buyers? With the declining market designation, your buyers were having to put an extra 5% down - this is no longer a problem in most areas. As long as the investors automated system and the appraisal do not deem the property in a declining market - your investor is fine and is not having to put the extra 5% down.
Our (financial) investors have already started to follow suit and are allow financing to 95% on conventional loans. Condos are still to 90% even if they are not in a declining market (assuming your buyer is going conventional and not going FHA which allows for 97% financing and VA to 100%) because the private mortgage insurance (PMI) companies currently only insure condos to 90%. Again, the investors will go to 95% but there are currently no private mortgage insurance companies who will insure a condo to 95%. We are hoping this will change in the near future.
This is good news! Share this with your buyers and co-workers. Things are changing here locally and rates are still great. This is going to be a great summer!
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07.08.08
Posted in Colorado Springs Real Estate at 6:58 am by Angela Byrne
It’s easy to see what type of activity is going on with new construction in and around Colorado Springs by looking at the current builder permits. It’s interesting to see how many people are making improvements (as opposed to starting new construction projects). In 2006, we saw a total of 2,426 
new home permits pulled. In 2007, the number dropped drastically to 1,475. This year (as of May), we are on track to come back up again. The current number of permits pulled is 852. If that continues at the same pace, then we could see as high as 2,044 by year end. This is great because it shows that new home builders are showing their confidence in the market.
Conversely, the remodeling permits in 2006 were 3,777. In 2007, they were 3,302. As of May of 2008, we had already seen 4,177! That’s more than in the entire 12 months of the previous year! I think it’s because more people are investing in their homes and preparing them to sell at a later date…when the current inventory stabilizes.
For now, most builders are motivated to keep moving forward. This means they do not want to hold on to inventory that isn’t moving. I just met with some home Buyers at a Journey Homes rancher in the Falcon community of Parkview at Woodmen Hills. This home they had under contract about a year ago at $225,000. Unfortunately, they had some family issues to contend with and had to terminate their contract at that time. Now that things are better, they came back and the same home is still on the market…at a discounted price of $189,900. This is a brand new home, never lived in. It’s got a finished basement and backs to open space. What a deal! To top it off, we are going to get a free central airconditioning system installed and still have some of the closing costs paid by the builder. Not all builders are extending $35k discounts…but many are. I would venture to guess that they won’t be doing this in 6 months.
Take a peek at the current Colorado Springs new home inventory. And contact the Springs Living Team if you see any you would like to view in person. We can negotiate some great incentives for you…and our commission is paid by the builders, so great representation comes at no expense to you.
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07.03.08
Posted in Colorado Springs Real Estate at 3:59 pm by Angela Byrne
To some of you, this may seem like a silly topic. However, if you’ve ever lived in a old, creaky house frequented by eerie noises, unexplained icy drafts or shadowy figures, you may way to read on.
I always get funny looks from homeowners when I get to the part of the Listing Agreement that talks about “any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the Property.” This clause is listed in under the section that says ”Broker shall not disclose the following information without the informed consent of the Seller”. One example of one of a stigmatizing factor is a suspected haunted house. This means we are not required by the Colorado Real Estate Commission to disclose this. We are not even authorized to talk about this unless authorized by the homeowner.
So, what can you do to address any of your concerns? If I were working with a client who specifically wanted to avoid homes potentially “haunted”, I would first talk to the Listing Agent and the Seller. If we can convey that this type of activity is a “material fact” to you as the Buyer, we may be able to get the information we need. Next, if the homeowners or occupants are not available or are avoiding the conversation, it may be time to meet some of the neighbors. It’s important to remember that any second hand information may be exaggerated or even untrue (dependent upon the neighbors actual knowledge or their personal involvement).
To sum things up…even though disclosure isn’t required, you may be able to do your own investigation to get to the bottom of things. If you’d like more information about buying Colorado Springs real estate (haunted or not), give us a call!
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