The Process of Home Buying

The Process of Home Buying

Buying a house is one of the most important decisions that you make in your whole life. You should prepare a checklist when you are searching for a house. Irrespective of the amount of time that you have saved in getting yourself ready for buying a house, the questions related to home buying might be never-ending. Following are some tips that would give you the idea about the procedure of buying a home.

1. Employ a real estate expert
   

   A crucial and initial step is to choose a real estate expert who would assist you to locate your dream home and adjust your financial anticipations. Functioning with a buyer agent really deserves a thought since he is lawfully accountable for representing the interest of the buyer in a real estate deal. Prior to deciding, ask a real estate agent about the advantages and disadvantages of utilizing a buyer agent against a dual agent.
   

2. Shop around for mortgage rates and terms
   

   If you shop around wisely for mortgage rates, you can get a rate that can really help you save a substantial amount throughout the span of a loan. A small variation of 0.5% can also become significant.
   

3. Prequalify for a loan
   

   During the early stages, you would wish to become prequalified for a mortgage loan. This ascertains the amount that you can afford. This gives you the flexibility to search for the right home, particularly when there are so many keen buyers. The seller also realizes that you are sincere in purchasing the property and can afford it.
   

4. Sketch out what you need
   

   The following step in buying a home is to make a practical outline of the property that you wish to buy. What are the attributes that are most significant for you? Prepare two lists: one for the essentials and one for leisure. Update your lists as you go on house-hunting.
   

5. Visit properties
   

   Now you are prepared to visit properties. Make sure that you get a detailed record of the properties you come across. Every time you go out to watch more houses, rectify your notes to instantly get rid of any property that does not fulfill your requirements.
   

6. Understand the aspects that assist or hinder resale
   

   In some locations, a swimming pool really takes away a part from the value of a home and it becomes more difficult to sell it. In areas with attached or two car garages, the future value and home buying potentials might be badly impacted by a single or one car garage. Your real estate expert can indicate towards aspects that hinder or assist resale.
   

7. Rank the houses you visit
   

   Subsequent to visiting every house, jot down what you appreciated and what you did not. Prepare a ranking arrangement that clearly defines the home buying domain.
   

8. Make an offer
   

   As soon as you have identified your dream home, the financial and legal aspect of home buying comes into play. Since the objectives of the home buyer and home seller are not the same, take the help of your agent for arriving at a positive outcome.
   

9. Make arrangements for a home inspection
   

   Following the approval of your offer, you should arrange for a home inspection. This is for the purpose of detecting any problems. The real estate expert would help you locate a reliable home inspector.
   

10. Closing
    

    Prior to your date of closing, just ensure that you have done all essential deposits and finished the formalities such as title, mortgage, homeowner's insurance and others as necessitated by state or local governments.
    

11. Get ready for life in your new house
    

    Before staying in the house, take into account some essentials: electricity, fire alarm, gas and water. You should also inform your regional post office about your new address. The most appropriate time for renovations is frequently prior to your occupancy.

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When looking through homes for sale in Colorado Springs, these steps should be able to help you find the right home depending upon your style and taste. Colorado Springs real estate market has some fantastic real estate properties to suit every budget. Find the right Colorado Springs REALTOR to show you some of the best real estate listings to choose from. And if you are looking for Colorado Springs commercial real estate, Mike Stuard should be able to help you with all your commercial real estate needs.

Buying A Colorado Springs Real Estate Property

Buying A Colorado Springs Real Estate Property

Buying a Colorado Springs real estate isn’t an easy job, especially in these tough economic times. But at the same time, it is no an impossible task to buy a home here in Colorado Springs. There are over hundred homes for sale in Colorado Springs to choose from. All you need to do is save enough to buy a home that you can afford.

Many people simply drop the idea of buying a house because they think they will not be able to save enough for the down payments and the closing costs. Some even think that they need to have a substantial amount in their bank account to be able to apply for a loan. But that’s not true. There are many programs that help you save and also certain mortgage products that let you buy a home for less money than you think. Your Colorado Springs REALTOR should be able to refer you to a Mortgage Adviser who will assess your financial position and suggest program that suit you best.

With proper advice and a little research on ones part, you could start out with as little as $3,000 to $4,000 in the bank. So what’s stopping you? Start saving and hire a good mortgage adviser. Yes, saving is tough, but then there are ways to do it.

You can start by looking at your lifestyle. How often do you and your partner eat out? Cut down on restaurants and fast food meals and save the difference.

Do you often buy new cars or lease them every few years? Well, you could try and get by with the one that’s already paid off. Instead, put the old car payment money in the bank each month.

Shopping can be tempting and taxing, especially if you go about it without a list of a specific need in mind. List down the essentials; avoid buying things that are not necessary. Understand the difference between ‘need’ and ‘want’. More often you may not need things that you want.

Entertainment can be expensive. Rather do things that don’t cost a dime, yet make you happy. Go for a walk in the park or on the beach with your partner instead of spending money on a movie that you may regret watching.

There are ways to cut down expenses and save. Remember every single penny that you save will take you closer to having you enough money to buy your new home.

For those of you who are looking for Colorado Springs commercial real estate, Mike Stuard can help you with all your commercial real estate needs.

A Dream Home In Colorado Springs

A Dream Home In Colorado Springs

When we set out to buy a new home we often find ourselves closing our eyes to imagine the kind of house we want to live in. We see our dream house. Many people realize that they cannot afford a dream house. So what can they really afford? If you don’t know where to start, how can you ever get to your goal? Don’t let the overwhelming thoughts stand in your way. Avoid the self defeating road blocks.

“I can never afford to buy a house.” Well, go see a Mortgage Adviser who will give you a clear picture of your credit rating and let you know where you stand. Ask your Colorado Springs REALTOR to refer you to a reputed Mortgage Adviser who will check your credit and also offer advice on how to improve you credit ratings and let you know how much you can afford based on your present income.

The next step will be to have your real estate agent show you a list of homes for sale in Colorado Springs that will interest you and your family. The Colorado Springs real estate market has some of the best real estate properties to choose from. Do a little research to find out what suits your budget.

Some of these homes may be costing more than what you are qualified for. The biggest hurdle that most homebuyers face is, understanding the difference between Wants & Needs. Often we ‘want’ something that we don’t ‘need’. We need to determine what we want right now. You may want a bigger house, but for that you may need to stay under a landlord’s roof for some time and save enough to be able to buy the house of your dreams. You may want a home with extra rooms for your future children. But you can make do with a 2 BR house for now. A good real estate agent can help you sort your wants and needs and help you get the home of your dreams.

Colorado Springs has also got some great commercial real estate properties. Contact Mike Stuard to help you with all your Colorado Springs commercial real estate needs.

Landscaping your Colorado Springs Home for Higher Value

Landscaping your Colorado Springs Home for Higher Value

Anyone who wants to sell his/her Colorado Springs real estate property thinks of ways to increase its value and get a few hundred dollars more. If you too are in a similar situation, consider landscaping before you put out the “For Sale” sign board. Landscaping helps enhancing the natural environment in which your home is situated. It can involve gardening, planting trees, shrubs and ornamental plants and also installing outdoor structures like walls, statues and fountains.

Landscaping improves the overall look, aesthetics, of your property. Landscaped homes for sale in Colorado Springs create a good first impression that can get a potential buyer interested in buying your home. Manicured hedges, well mowed lawns can give your home a classy look. For those of you who are looking for such beautiful homes, ask your Colorado Springs REALTOR to help you find one.

Landscaping often gets neglected when it comes to selling homes. You may debate that it would only increase the value of your home by about 10% and not more. But if you put in figures you will see that it is a substantial amount, like around $10,000 for your property worth $100,000. You sure wouldn’t want to loose this amount, would you?

An investment in Colorado Springs commercial real estate can be a rewarding venture. Ask Mike Stuard for some great commercial real estate properties in the area.

Benefits of Mortgage Calculators

Benefits of Mortgage Calculators

Mortgage calculators can be crucial for people who are looking into buying a home. While it is nice to think that people can buy a house without having to deal with a mortgage, most people who buy a home require a loan. The numbers and equations in obtaining a mortgage are enough to confuse anyone. Many people simply talk to their mortgage broker or the lender to try to figure out exactly how much a mortgage will cost them. There is a way to be informed on the mortgage as a first step to making any decisions. By using a mortgage calculator, you can figure your payments and basic costs. There are various calculators which can help you in any number of calculations.

What Calculators are available?

There are calculators available for almost any purpose you can imagine, below is a basic list available for mortgage purposes.

Debt Consolidation Calculator – Work out the benefits of consolidating your debts.

Cost Calculator – Work out how much it’s going to cost you to buy your house.

Repayment Calculator – What are your repayments going to be?

Borrowing Calculator – How much will a lender offer you? This is usually a very general calculator. The only definitive way to assess this is the speak to your lender or mortgage broker.

There are also calculators for car loans, calculating balloon payments, the effect of extra repayment, lump sum repayments and many other purposes.

Know What You Can Afford

The first major benefit of a mortgage calculator is the ability to figure out what you can afford. While many people know what they can afford as far as monthly payments are concerned, they are unsure how interest and everything else plays into the numbers. The mortgage calculator gives you the luxury of playing with the interest rate, amount of deposit, and loan term to figure out what you can afford, and how to arrive at the loan amount that you can afford.

Know What Small Changes Do to your Payment

The next benefit is the simple idea that the mortgage calculator allows you to play with the numbers at will to understand how changes affect your monthly payment. By playing with the different numbers you can figure out the best way to get what you want in a realistic way.

Know your Price Range

When buying a house people often find they are unsure of how much they can afford. How does Interest rate or deposit impact the price they can afford to pay for a house? What is the maximum purchase price? Some people believe they can pay a certain amount, but can actually pay more. Being informed will allow you to buy better and give you an advantage when negotiating with the vendor.

Do Mortgage Calculators have limitations?

Mortgage Calculators are a fantastic resource as a first step to securing a mortgage or buying a house. The simple nature of a calculator is also its greatest limitation; there are many factors to consider in obtaining a mortgage that a calculator does not cover. For example, a calculator does not look into your credit worthiness or the impact a credit default has on the interest rate, or the amount you can afford. It also does not consider or have the ability to work out exact loan costs for your particular situation. Mortgage Calculators should be viewed as a first step asset to obtaining a mortgage, but know they have their limitations.

Summary

When using a mortgage calculator, you can begin to educate yourself on what you can afford the basic costs and the benefits of various loan situations. You can have ready access to online calculators or even computer based calculators without dealing with a lenders sales pitch. Calculators are great as a first step to obtaining a loan or a mortgage, but know the limitations. Where possible make a call to a Mortgage Broker or a lender as the next informed step to obtaining a mortgage. When trying to restructure a mortgage, or to entering into a new one, the mortgage calculator can help you understand what you can do, and what you cannot afford.

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Your Mortgage Calculator should be able to give you a fair idea as to whether you can afford to buy a Colorado Springs real estate. It will help you short list the homes based on the price range since the price range of the homes for sale in Colorado Springs can greatly vary. You will be able to find out those that fit into your budget. A reputed and well established Colorado Springs REALTOR can help you find homes that suit your budget, style and requirements. When it comes to buying a Colorado Springs commercial real estate you can trust Mike Stuard with all your commercial real estate needs.

Home inspection

Home inspection

A home inspection is a non-invasive examination of the condition of a home, often in connection with the sale of that home. This is carried out by a home inspector, who usually has special equipment and training to carry out such inspections. A home inspection report is then issued by the home inspector. Many home inspectors use home inspection software.

An inspector will check the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, electrical, and many other aspects of buildings looking for improper building practices, those items that require extensive repairs, items that are general maintenance issues, as well as some fire and safety issues. Home owners or home buyers often use a home inspection service before selling or buying their houses. A home inspector conducts a thorough examination of a home to detect any potential systems or components requiring attention. A home owner receives a detailed report of the condition of his/her home so that he/she can plan for needed repairs and upgrades when it is time to make them.

A home inspector is sometimes confused with a real estate appraiser. A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property.

A home cannot "fail" an inspection, as there is no score or passing grade given. A professional home inspection is an examination of the current condition of a house. It is not an appraisal. It is not a municipal inspection, which verifies local building code code compliance. A home inspector, therefore, will not pass or fail a house, but rather describe its physical condition and indicate what components and systems may need a major or minor repair or replacement.

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Buying a Colorado Springs real estate property can be made easy if you hire the services of a reputed Colorado Springs REALTOR, be sure to have the property thoroughly checked by the home inspector. There are hundreds of homes for sale in Colorado Springs and you need to make sure that you choose the best in all respect. Buying a Colorado Springs commercial real estate is made easy by Mike Stuard who will help you will all your commercial real estate needs.

Affordable Options For Home Buyers

Affordable Options For Home Buyers

Since construction prices for traditional site constructed homes remain high, a lot of people have a growing interest in modular home building as a way to keep building costs inexpensive. Modular homes provide an inexpensive option that is converting prospective home shoppers into home owners.

Modular houses account for nearly eight percent of all new home sales in the USA. Modular home sales in North Carolina, Michigan and New York are the most popular locations for new modular home construction. Modular homes provide an affordable home that can be installed very quickly verses traditional built homes.

Modular homes are manufactured in several sections at a factory much the same way manufactured homes are. The major difference between manufactured homes and modular homes are in the setup of the home on the site. Manufactured homes usually do not have a permanent foundation installed and are titled as personal property for tax purposes. Modular homes are installed on a permanent foundation and deeded as real property at the courthouse.

Building the home in a factory setting allows for shelter against rough weather and malicious mischief during construction. The quickness of the technique likewise significantly lessens construction costs. Although these modular homes are factory constructed, it's possible to get these houses customized to a certain extent.

Most modular homes are purchased through a dealer that has a sales lot with show models. Buyers browse both finished and unfinished models to choose the layout that closely fits their individual needs. Once the floor plans and customizations have been approved by the builder, an unbiased, state licensed engineer verifies the revised house plans meet building codes. As the factory begins constructing the framework and roof trusses, a local contractor starts digging and pouring the foundation.

Once the factory-made sections are constructed, they are transported to the site, and lifted onto the foundation through the use of a crane. This process can take as little as a day to complete depending on the size of the home. Final completion may take another few weeks as electrical, plumbing, sheetrock, and cabinetry are installed on-site. The overall process, from the first order to move in, generally takes about ninety days. A big difference if compared to site-built houses, which could take from twelve to eighteen months to complete.

Final Thoughts

It is estimated that a home buyer can save about 25% on their building costs by choosing modular over conventional construction. That is a big saving in a down economy.

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Buying a Colorado Springs real estate? Ask your Colorado Springs REALTOR for modular home options in the area. With more and more people looking for homes for sale in Colorado Springs, you could find one that suits you best. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Colorado Springs Relocation

Colorado Springs Relocation

Relocating is always overwhelming exercise, especially if you are moving to a new place. If you are relocating on your own notion, you must have studies the pros and cons of moving into the city of your choice. You may have already visited the city and would know the city and how to get around. But in case you are moving into a new city because you have been transferred for work, it can be an intimidating experience.

Relocating to Colorado Springs can be a little easy, owing to the friendly people, natural beauty and great neighborhood. Buying a Colorado Springs real estate is the first thing that you will need to consider before relocating. Colorado Springs is a popular tourist destination. There are a variety of recreational activities that can be done here in Colorado Springs all year round. Something that you and your family can look forward to if you are new to Colorado Springs.

Relocating to a new place with a family can be tricky. You are worried about your children. How will they adjust to the new neighborhood? Will they find new friends? What about their school? With Colorado Springs, you can be rest assured that you and your family will quickly fall in love with this place. Hundreds of people come looking for homes for sale in Colorado Springs. Colorado Springs has some of the finest schools in the state to take care of your children’s educational needs. Your teenage children will love the recreational activities that Colorado Springs offers.

Finding a home is a task made easy if you hire the services of a reputed Colorado Springs REALTOR who will help you in the process of buying a home that suits your need and budget. There are a great number of options to choose from depending upon your specific requirements.

If you are relocating to Colorado Springs and wish to start your own business, you may want to buy some good Colorado Springs commercial real estate, Mike Stuard can help you with all your commercial real estate needs.

Foreclosure Homes For Sale: Can Give You A Lot

Foreclosure Homes For Sale: Can Give You A Lot

Foreclosure homes for sale have a lot stored within themselves, only if the decision to buy them has been taken with utmost care. These houses will come to you in a package deal, full of happiness and profits. The house would not require anything more than a little attention and renovation from your side to yield profits for you. The house has everything stored in for you.

If you are planning to take advantage of the Foreclosure Homes for Sale, then be prepared for a lot of advantages at a given time:

Low Cost: The houses will come to you at a very low cost. They would give you a discount of at least 10-40% from the average market price. For example, if the worth of the foreclosed property is $100,000 then you might be able to get it for $60,000 approximately. The low cost s not n indicator that there is something wrong but just that the bank wants the property to be sold for money as quickly as possible.

Build your equity: If you are buying the property you are defiantly adding it to your equity. Now this simply means that you are buying something for less but you are building your equity for more. For example: you bought the property for $70,000 which was originally for 100,000 and got a loan from the bank for $50,000, this means that you paid $20,000 and got an equity share in the property for $50,000.

Bargain at the closing cost: the banks or the government are usually in a hurry to get rid of these properties and therefore get listed as Foreclosure Homes for Sale, to start with the proceedings fast. Now, since these institutions are in a hurry to close the deal, they even bargain on the closing of the house and agree to pay from their end as they require the money from the sale of the house to put them is circulation.

Immediate possession: since these houses take a little time for the auction proceedings and all, it does not take much of time for the papers to get transferred on your name and you to get the possession of the property.

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Colorado Springs real estate has some good foreclosed properties in the market. People looking for homes for sale in Colorado Springs can check out these properties which may save them hundreds of dollars. For those who are in search of Colorado Springs new homes, you may seek help form a reputed Colorado Springs REALTOR to help you find one. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

What To Look Out For In Commercial Real Estate Listings

What To Look Out For In Commercial Real Estate Listings

Choosing to buy commercial property is a big decision. You require a high level of investment and have to ensure that you don’t make a costly mistake. A number of websites provide commercial real estate listings of properties for sale. These lists are regularly updated. One can search these lists to gain a general idea of the quality of the properties that are available within a given budget. The prices of commercial real estate typically vary according to their location, size, and quality of construction. If you are planning to invest in commercial real estate, you should look at these lists these lists. Looking at these lists requires a great degree of skill, as it is important to read between the lines to uncover the true value of a listing.

Find out how many Commercial Property Listings there are in your local area

Your first step should be to find out what the best locations to buy commercial properties are. Often you will find that certain areas will have a high density of commercial real estate for sale, be wary of such pockets lest you find yourself buying a ticket aboard a sinking ship. Although it may cost you more money at times, make it your mission to find an area where companies such as your own have a proven track record of doing well.
Once you find an appropriate property from a commercial real estate listing, perform a thorough inspection before you buy Commercial Real Estate. While you may feel that a thorough inspection is not necessary as you are not going to be living there, this could not be further from the truth, as this is a business premises inspection it is just as prudent to thoroughly examine as a residential property.

Are you Buying Commercial Property in a Rural or Urban Setting?

When you look at a commercial real estate listing, the type of development where you are purchasing commercial real estate is very important, for instance if you are in a rural setting then you will be looking for very different features than if you were looking for a ware house for sale in an urban setting. Another thing to consider if you are in a rural setting is the cost, you can expect to pay lot less to be in a less developed area but if you are in a more developed district, especially a retail shop for sale or lease inside the city center you can expect to pay a premium.

Will you be buying this Commercial Property to rent out?

It is also important to consider whether you are buying commercial property for your company to actually move into, or whether you are going to rent it out to someone else. If your goal is to own the commercial property to let, then don't get hung up on want you would like to see when buying commercial real estate, rather find out what the widest possible market is looking for in a commercial property for lease and acquire something that fits that description.

What are the tenant’s assets and liabilities?

It is a good idea to obtain a financial statement from the potential tenant that is occupying the space that you buy. The financial statement will list the tenant's assets and liabilities. This will give you a good idea of how financially stable the tenant is. Would you like a tenant with $0 cash in the bank, a negative net worth, and credit problems? The answer is of course, no. Once again it's surprising how many commercial investment property owners don't do this and find out after the fact that it's something they shouldn't have done in the first thing. Now, this is all pretty easy as long as you do a good job of checking out the tenant in the first place.
While on the face of it a commercial property listing may appear straightforward, it is important to dig deeper and find out more before signing on the dotted line. Don’t be afraid to ask the right questions. Only when you are absolutely sure that all your questions have been answered to your satisfaction, you should proceed with the purchase.

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Buying a Colorado Springs commercial real estate is as easy as getting in touch with Mike Stuard who will help you wil all your commercial real estate needs. And for those of you who wish to invest in some great Colorado Springs real estate you can seek help of a well established Colorado Springs REALTOR who will guide you in the process buying a home from among hundred homes for sale in Colorado Springs. Colorado Springs real estate has always been a popular choice of home seekers. Whether it is from an investment point of view or whether you are looking for a family home, Colorado Springs is the place to be.

Real Estate Resale Value

Real Estate Resale Value

Colorado Springs real estate is an ideal place to call home. A perfect blend of natural beauty and the convenience of a major city, it is a popular choice for most home seekers.

Homes that have a lovely view to offer have its own advantages and disadvantages. By the seller’s perspective, a home with a view should fetch you a price a little higher than the usual. On the other hand looking at it from the buyer’s point of view, you may have to shell out a few extra hundred dollars for a home with a view.

This ideal situation may not always easily come by. A seller may have to wait a longer to find a buyer who is willing to pay the extra for the view. Buying a home in such condition can be a little tricky. And if you are buying a property from an investment point of view it becomes all the more challenging.

From an investment point, it is best to invest by paying as little as possible for the view. You never know, if you would find a buyer who is willing to pay you for the view when you decide to sell the home some time later. You may not get the kind of money that you invested in it in the first place.

Seek the help of you Colorado Springs REALTOR to help you find the right home from among the hundreds of homes for sale in Colorado Springs with or without the view. Colorado Springs real estate is sure to give you good returns on your investment.

The same can be said about a commercial real estate property too. If you wish to know more about the Colorado Springs commercial real estate, please contact Mike Stuard.

Rising Residential and Commercial Foreclosures

Rising Residential and Commercial Foreclosures

The recent reports for the real estate market in the United States suggest that the foreclosed properties shall continue to rise and dominate the real estate market. The reports show that there have been about 3,700 foreclosure filings since June 08 to May 09, which averages to about 10 foreclosures a day. Some regions in the country have been hit hard with more that 52,000 foreclosure filings and is expected touch the 100,000 mark by the year end.

Effect of the rising foreclosure

Though the rising rate of foreclosure is bad news for sellers, good news is that homebuyers can now buy a foreclosure home for rock-bottom price. It’s a good time for real estate investors and the first-time homebuyers to buy properties much below the market value. This is one of the reasons that more and more people are investing in Colorado Springs real estate. There has been a sharp rise in the number of people looking for homes for sale in Colorado Springs. The Colorado Springs new homes are also on the top of the popularity chart.

There has also been a steady rise in the commercial foreclosures with a 12% jump in the first seven months of 2009 as compared to 2008. In some regions the number had tripled compared to last year. Get in touch with Mike Stuard for all your Colorado Springs commercial real estate needs.

Whether its buying or selling a commercial or a residential real estate property all you need is a little help for a trusted Colorado Springs REALTOR.

Tips on Home Buying and Selling

Tips on Home Buying and Selling

Home buying and selling is a very fast paced industry. A house can sell in an hour or even in minutes. Real estate buying and selling is also a very hard job but with the right tips on your book you will be able to outwit and win good deals.

So here are some good tips on how to sell good and buy the best home. Just remember all of this and surely you will be able to sell at the right price and land in your dream home.

If you are a buyer then you should take these things into consideration. Before you start working with a bank, mortgage banker, mortgage broker or credit union; get as much information as you can. Check their backgrounds carefully. Also, get an estimate of all possible fees.

Do not over commit yourself. There are some things that you can take care of for the buyer but others that you cannot. Be able to negotiate.

Also make sure that what you are purchasing is within your financial reach. Never go for something that is so high or just right on your income. Have something that is 25 to 30% lower than your income, so that if ever there is a draw back on your financial status you will still be able to afford it.

If there are problems getting into a pre-approval because of your bad credit rating then one good thing to do is to get your credit reports and review them all by yourself.

Determine if anything on the report is inaccurate or over seven years old which means it must be removed.

While you do not necessarily have to add on a new room or two, make some basic improvements. Fixing up the house can make a significant difference in the eyes of buyers. If the house needs a paint job, use neutral colors, the same with new carpeting. Also make the grounds appealing.

Whether you are going to open houses on your own or using a real estate broker, make up a list of what you would most like in a new home and prioritize it so you can determine what is most important and which items you are comfortable sacrificing.

Always keep a cool head, even simple problems can be a burden when you have so many details to take care of, so do not over-react if you hit a few snags on the way to closing. Keep a cool head and work with the people helping you through the transaction to resolve any issues that pop up.

If you are on selling side then this are what you should be thinking of right now.

Besides spring, the best time to put your house on the market if you plan on buying another home is when interest rates are low. Low rates benefit both buyers and sellers, and you'll be both.

Understand the home selling process and learn about negotiating. Knowing as much as you can could save you thousands of dollars.

If you decide to sell your home on your own keep in mind that it'll probably take longer than if you're using a real estate agent, especially in a buyers' market.

When there are more sellers than buyers, real estate agents have the advantage with things like the multiple listing when it comes to getting their homes in front of buyers.

Be realistic. About your asking price, the time it takes to sell a house, the process and the market. If you go in thinking it will take only a week and you'll get exactly your asking price, you'll most likely be disappointed.

At market value, you open your home up to more people who can afford the price. Sellers who list at a high price in the hope that they will find the one purchaser, who will pay it, often do not realize that they have discouraged many potential purchasers who could have afforded the price they end up accepting at a later date.

Be real and you'll have a much better experience.

When selling your home always make it as presentable as possible make sure to repair all the minor and major damage that is on the property.

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If you are considering buying a Colorado Springs real estate property, you can start by hiring the services of a well established Colorado Springs REALTOR who will be able to help you find your dream home and also help you with the procedure involved in acquiring the home. Colorado Springs real estate is a popular option for home seekers. Hundreds of people come looking for some great homes for sale in Colorado Springs. Its not just the residential real estate market that is booming in Colorado Springs, the Colorado Springs commercial real estate market is equally keeping pace with great demands and Mike Stuard is the man to get in touch with for some fantastic commercial real estate properties.

Buying Homes with Resale Value

Buying Homes with Resale Value

View is the one of the major factors that affects the resale value when buying homes. Buying homes with a pleasant view of a beach or the horizon often sell at a premium above similar homes without the view.

Though you may place a considerable dollar value on the view, future buyers may not be so like-minded. It may take you longer to find a buyer when it comes time to resell the house. Or you may end up dropping your price to more nearly match other sales prices in the neighborhood.

In short, if you are buying a house with a view, try to pay as little extra as possible. Otherwise, you might not get your money back.

Most real homes today are usually concentrated on the building itself but the lot is important too. Homes with a good resale value should have lots that are as level as possible.

Assuming the property is in a typical neighborhood, the lot should be rectangular and no odd shaped lots or oddly situated lots.

Courtyard sizes are smaller in modern homes than in older homes but there should still be a decently sized front and back yard.

Do not buy an over-landscaped property either. You would normally pay a premium for that which you may not be able to recover when you sell. You will get your best value if the house is moderately landscaped or under-landscaped for the area.

You can always perk up the landscaping during your ownership by humanizing the grass and adding bushes and trees. Just do not waste too much.

In each residential neighborhood houses will vary in size and rooms but they should not be too different. If resale value is an important consideration you should not buy the largest model in the neighborhood.

When determining market value the homes nearest to yours are most important. If most of the nearby houses are smaller than your house they can act as a drag on appreciation.

On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can help pull up your value. This is one of those times where determining your "wants" versus your "needs" can be extremely important.

Buying what you need in a more prestigious neighborhood may provide more financial reward than getting what you want in a less desirable neighborhood.

Three and four bedroom houses are the most popular among homebuyers, so if you can stick in that range you will have more potential buyers when it comes time to resell.

There ought to always be at least two bathrooms in a house, preferably at least two and a half. One bathroom with a place to wash up for day-to-day visitors, one for the master bedroom, and at least one to be shared by the other bedrooms.

Walk-in closets are extremely desirable for the master bedroom. For the rest of the house, just be sure there is ample closet space. Do not disregard space for linens and towels.

Garages add to the resale value and you should always make sure to get at least a two-car garage. Lately, three-car garages have become desirable in some areas of the country.

The laundry facilities should be located somewhere convenient on the main floor of the house, but not in a place it will create an eyesore. Think about whether you want to walk up and down stairs when carrying loads of laundry.

Family activity centers on the kitchen, so this is the most important room of the house. Larger kitchens are better, and they should be provided with modern appliances.

Obviously, the dining room and breakfast nook should be located adjacent to the kitchen. In newer houses, the family room should also be extremely close to the kitchen.

There should be easy access to the back yard, as there will be occasions for barbecues and outdoor entertaining.

In addition, it should be a short trek between the garage to the kitchen so hauling groceries in from the car does not become a horrendous chore.

Swimming pools do not provide as much added value as they once did. Safety issues about families with younger children have become more publicized than in the past, so families with small children tend to avoid homes with pools.

As a result, having a pool may actually reduce the number of potential homebuyers when you try to resell the home.

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Buying a Colorado Springs real estate property can be the best investment that you make. Considering the popularity of Colorado Springs real estate, many people are looking for homes for sale in Colorado Springs. It's only a matter of hiring a reputed Colorado Springs REALTOR to help you find your dream home. And if you are looking for some fantastic Colorado Springs commercial real estate please contact Mike Stuard.

Real Estate Sale Contracts - 72-hour clause

Real Estate Sale Contracts - 72-hour clause

Buying a home or a Colorado Springs real estate property is one of the most important events in ones life. Owning a home gives you the confidence and ensures the safety of you and your beloved family. There are a large number of Colorado Springs new homes for sale in the market. The entire process of buying a new home can be tedious and at times daunting, especially for the first timers.

Any real estate transaction is always accompanied by a real estate sale contract. One of the important clauses in a typical real estate sale contract is the 72-hour clause. It is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. This clause is a seller contingency that allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller to continue to market the property.

If the seller gets another better offer to purchase the said property, the seller can accept this offer as a backup offer. The seller can then enforce the 72-hour clause by notifying the original buyer about the backup offer.

Under such conditions, the first buyer has a specified period of time to fulfill all the buyer contingencies in the contract of sale, or cancel the contract and lose the property. If he/she cannot fulfill the contingencies in time, the original contract will cancel and the back-up offer will move into first position.

Many who put up their homes for sale in Colorado Springs, often include the 72-hour clause in the contract. It you have any doubts about the contract that you are entering in, you may contact a Colorado Springs REALTOR to understand the implications of such a clause.

The term 72-hour clause can be somewhat misleading, because the notice period within which the buyer must fulfill the buyer contingencies can be negotiated. The effective notice period may therefore be longer or shorter than 72 hours. Further ambiguities arise if the 72 hours were only considered counted on business working days, excluding weekends and legal holidays.

You may contact Mike Stuard to find out about this clause in your contract while you plan to buy or sell a Colorado Springs commercial real estate.

Real estate broker

Real estate broker

In the United States and Canada, the term ‘real estate broker’ refers to a party (individual or an organization) who acts as a mediator between sellers and buyers of real estate. The primary role of a real estate broker is to find sellers who wish to sell and buyers who wish to buy a real estate property. In the United States, the relationship was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his clients.

A real estate broker and his/her sales team, commonly called as ‘real estate agents’ help the sellers in marketing their real estate property in a way to get the highest price under the best terms. On the other hand a buyer’s real estate agent works to help the buyer to find the real estate property for the lowest price and the best terms. There usually exists a verbal or a written and signed agreement between the two parties (the seller or buyer and the real estate broker).

In the United States a person must posses a valid license to receive payment for services rendered as a real estate broker. Unlicensed activity is illegal, but buyers and sellers acting as principals in the sale or purchase of real estate are not required to be licensed. In some states, lawyers are allowed to handle real estate sales for compensation without being licensed as brokers or agents.

Whether you do it on your own or hire the services of a Colorado Springs REALTOR, buying a Colorado Springs real estate property is the best real estate investment you can do. Colorado Springs real estate is a hot selling cake these days, with more and more people looking for homes for sale in Colorado Springs. If you are specifically looking for some great Colorado Springs commercial real estate please contact Mike Stuard.

Pretty Houses vs Ugly Houses

Pretty Houses vs Ugly Houses

Determining if a property is pretty or ugly can be a relative thing. After all, it can be a matter of opinion whether or not a property is pretty or ugly. In some states, people go by the general consensus that in their prospective area, there are no pretty houses until it is proven otherwise.

So in this business, there are different ways of measuring whether or not a house is a pretty house or an ugly house. And when it comes down to it, the amount of money needed to get the house in order determines what category it falls into. This is because we deal with the ARV (After Repairs Value) of a home. And if repairs exceed a certain amount, then the house is considered an ugly house.

Generally speaking, someone might consider a pretty house to be one that needs less than five thousand dollars in repairs done on it. But again, this is all relative. Because many times you'll take over the deed of houses needing ten or fifteen thousand dollars in repairs. This, however, doesn't really mean that it's an ugly house. If the loan on the property is more than what you pay for in cash, then you might consider it a pretty house deal even if it needs work.

So, suppose you have a house that has a lot of equity built up. The home is in foreclosure and the owner is several months behind in payments. The home might need some cosmetic repair work done to it, maybe some painting and minor floor work done. In a situation like this, you may want to consider not putting any money into the home. Instead you can aggressively get out there pursuing a work for equity tenant buyer and hopefully come up with one that can come up with at least enough to bring the payments current.

But the first thing you need to do is get the deed on the property. You will also want to check the title on it. Don’t simply take the person’s word for it when he says that there are no liens on the property. Find out for sure. Simultaneously you will want to find a work for equity tenant, get them in there and have them do their own work. Then be sure to get them out when and if the work gets done.

The idea is to attract people who want to do some work and who want to get some equity for it. You very well may find some people able to qualify for a loan on it, so you play both ends. Either way, it’s not fun making payments on ugly house looking for a qualified buyer. If you do it this way you may find a buyer along the way while you're looking for a work for equity tenant buyer.

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Looking for some homes for sale in Colorado Springs? Great! Get in touch with a reputed Colorado Springs REALTOR to help look through the hundreds of listings of Colorado Springs new homes and old homes too. The Colorado Springs real estate has some fantastic options to offer that will suit every budget and style. If you are looking from investment point of view, Colorado Springs is a good option. You are sure to have a good return on your investment. If you are looking for Colorado Springs commercial real estate, you can contact Mike Stuard for all your commercial real estate needs.

What Are The Benefits Of Hiring A Commercial Real Estate Broker?

What Are The Benefits Of Hiring A Commercial Real Estate Broker?

A commercial real estate broker is a person who acts as a link between a buyers and a sellers real estate. This relationship is one of fiduciary responsibility, meaning that it is a relationship based on trust.

The person appointed as the broker, has the responsibility of ensuring that his salespeople handle the transactions according to law. The sales people are known as real estate agents and their responsibilities include representing the seller or the buyer in the transactions and making sure that they get the best possible treatment. The agent representing the seller ensures that the seller receives the highest possible price for the property they are selling, while the agent of the buyer will negotiate for the lowest possible price. The buyer's agent will also try to find properties in the best structural shape that fits within their estimated price range.

In many places, such as the United States, it is mandatory for the broker to have a license to negotiate the sale and purchase of property. The broker can act as either the proprietor of a company or as an agent for another company. There are various ways to get the certification as a broker. One way is by going to school and passing a state test. Another way is to hold a position that automatically allows you to apply for and receive the certification, such being an attorney.

Following 1992, there were brokers from Florida and Colorado that recommended that the professional relationship between the agent and the client should be broken. Instead, they felt that the dealings between the two should be strictly limited to the actual sale and purchase of real estate, without taking the personal interest of the client into consideration. In Florida, the Broward Board of Realtors went so far as suggesting that the brokers and agents merely help the selling and purchasing parties with finalizing the sale, without the bond of trust. The only requirement being that they adhere to both legal and moral standards.

The result was that in 2003, Florida amended the law and made all real estate licensees have only a transaction relationship unless there is only one person acting as the representative for both parties. This will not apply if there is a business link between the two parties.

The change in the law also made it mandatory that the aspects of the transactions be made in writing and removed the dual and sub agency designations. A dual agency results when a broker handles the transactions of both the purchasing and the selling parties. Both parties would have agreed to this arrangement in writing. The sub agency agreement meant that two agents from the same brokerage would represent the selling and purchasing parties. Like a dual agency transaction, it would have to be agreed upon in writing by both parties to the transaction.

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If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard. Colorado Springs is a great place for real estate investment. Whether it’s a home or a commercial real estate, you are sure to have a good return on investment. Colorado Springs is also a popular destination for home seekers and the Colorado Springs real estate market has witnessed some great activity in the recent times. With the number of people looking to buy a Colorado Springs real estate on the rise its onle a matter of find the right Colorado Springs REALTOR to help you find the right home for over a hundred homes for sale in Colorado Springs.