Common Home Buyer Questions

Articles that answer common homebuyer questions in Colorado Springs and surrounding areas.

Found 31 blog entries about Common Home Buyer Questions.

Is Your Tax Strategy Sabotaging Your Ability to Buy a Home?It's almost the start of another year, which means that tax season will be upon us shortly. Many people will be planning the best ways to structure their income tax to pay as little money out of pocket as possible. This may backfire on you if you plan on purchasing a house with a mortgage in the next few years though. Are you one of the many Americans who claim as many income tax deductions as possible? If so, you will definitely want to continue reading this article to find out how effective your tax strategy may be.

A while back, I had some clients who wanted to buy a house in Fountain, CO. They contacted me to get started with the home buying process. The first step in this kind of relationship is to make sure that they can get pre-approved for a

1 Comment

5 Signs That You Are Ready to Buy Your First HouseI bought my first house within a few months of being married in my early 20's. I honestly had no idea what I was doing, but I knew that I did not want to throw my money away on rent payments. My wife and I worked on our budget, researched different areas, and bought our first home right off the bat. Looking back, it was one of the most exciting times of our lives. We have so many wonderful memories of our kids being born and growing up in that first house. We lived there for more than five years, which is the longest that we have lived anywhere to date. If we would have rented and moved around during those times, my family's memories of these early times would have been much different. I am very glad that we jumped right into home ownership in our first

7 Comments

Can you trust your realtor?I recently had an out-of-town client fly into Colorado Springs to purchase a property. We had 3 days to find them something, so on day one we looked at 10 homes. We found the perfect property and put in a full-price offer (and 50% down) with a lease-back that allowed the home owner to lease the property for 2 months while their house was being built. This is a VERY good offer for this particular area and property. My client was more concerned with the offer being accepted, than all of the other monetary details because of their time constraints. I prepared and submitted the offer within an hour of the showing. The Listing Agent presented our offer that afternoon and I was told that we would hear something back shortly.

The next day, my client wanted to

9 Comments

5 Common Home Buying FeesWhen you are looking at homes online, the sales price of the home listed for sale is not the only cost associated with buying the home. There are many other fees that are associated with buying a house and owning real estate in general. This article will help you breakdown these fees and get a better understanding of the additional costs of buying a house.

I have broken the fees down into 4 separate sections: Purchasing Fees, Mortgage Fees, Title Company Fees, and Home Ownership Fees. I’ve tried to make it easy so you can browse through and read about the extra fees that you may not be familiar with. Let’s start by taking a look at the main fees associated with purchasing a house.

THE 5 MOST COMMON FEES ASSOCIATED WITH PURCHASING A HOUSE

11 Comments

September 2014 Colorado Springs Real Estate Market Report

The Colorado Springs Real Estate Market in September

According to the new data released by the Pikes Peak Association of REALTORS®, the Colorado Springs real estate market looked very good last month. Let's take a look:

September 2014 Colorado Springs Real Estate Statistics

  • New Listings: 1,249 (Up +8.0% from last year)
  • Sold Listings: 1,026 (Up +23.8% from last year)
  • Total Active Listings: 3,834 (Down -5.9% from last year)
  • Average Sales Price: $253,218 (Up +3.1% from last year)
  • Total Under Contract: 1,759 (Up +13.9% from last year)
  • List To Sold Price Ratio: 98.3% (Up +0.2% from last year)
  • Days on the Market: 82 Days (Up +20.1% from last year)

The two most encouraging and dramatic data increases in our September

0 Comments

August 2014 Colorado Springs Real Estate Market Report

The Colorado Springs Real Estate Market is Sending Mixed Signals

According to the new data released by the Pikes Peak Association of REALTORS®, the Colorado Springs real estate market is sending mixed signals. Let's take a look:

August 2014 Colorado Springs Real Estate Statistics

  • New Listings: 1,422 (Down -2.8% from last year)
  • Sold Listings: 1,111 (Up +0.5% from last year)
  • Total Active Listings: 4,104 (Down -3.5% from last year)
  • Average Sales Price: $258,398 (Up +3.7% from last year)
  • Total Under Contract: 1,933 (Up +8.1% from last year)
  • List To Sold Price Ratio: 98.2% (Up +0.2% from last year)
  • Days on the Market: 84 Days (Down -8.7 from last year)

All of the numbers above point to a strong housing market that

0 Comments

 

Andrew Fortune Great Colorado HomesThis is a guest post by Shanne Sleder, an experience Morgage Broker with years of experience and expert tips for home buyers and sellers. We are please to collaborate with Shanne and hope that you take the time to read what he has to say about home buying and selling options in the Mortgage industry.

5 Home Buying Tips from a Mortgage ProfessionalI would like to take a moment and introduce myself to the readers of GreatColoradoHomes.com. My name is Shanne Sleder and I am a Mortgage Broker and Banker from San Diego, California and the author of SanDiegoMortgageNews.net. Andrew contributed recently to one of my all-time most popular posts on Home Buying Tips, and since that post did so well, Andrew was kind enough to ask me to share with his readers some more detailed home buying tips on

14 Comments

3 Reasons Why Local Real Estate Websites are Better Than National Ones

A few days ago, I received a text message from one of the home buyers with whom I am currently working. She wanted to see a house that she found on the internet, so I looked up the address in our MLS and could not find any data on it. I put the address into Google and the first search result was a listing on Zillow.com. I clicked the link and started to do my research in order to find out wether or not this home was still available for showing. There was no contact info on the page for the individual who listed the property for sale. Eventually I found a link at the bottom of the page that showed the location of the website where the data was being pulled from. When I clicked on it, I was taken to a clunky old website from a real estate wholesaler was

10 Comments

The Colorado Springs Suburban Homebuyers Dilema: More House Versus More yard Infograph

Most suburban homebuyers are constrained to a certain real estate search criteria based on their budget. Homes are priced by square footage, upgrades, and amenities, so the approved loan amount on a mortgage pre-approval will determine home much home, upgrades, and amenities a homebuyer can purchase. When working with suburban homebuyers, one of the most common requests I get is, “I want a large yard and maybe some acreage, if possible.” The problem is, that homes with acreage and land are becoming more difficult to find as most new neighborhoods are built with small yards and little privacy.

The trend for most new neighborhood developments is to squeeze as many homes in as possible to increase profit margins. The supply of homes on large lots is

0 Comments

Hiring a Relative as you RealtorFor most of us, buying and selling real estate is the largest monetary transaction that we personally experience.

Dealing with a six figure sales prices can be intimidating when it has to do with our own personal finances. Good real estate tips are very important when looking for your next home. A bad experience in a real estate transaction can have life altering consequences and severely affect your long-term goals. Because I know the weight of it, I am writing this post to warn those who might be tempted to hire the first REALTOR they know.

Friends, family members, church buddies, neighbors, and community groups are all the life blood of a bad Real Estate Agent.

Mediocre real estate agents depend on these relationships to find new clients. 

2 Comments