Colorado Springs Real Estate - Appraising 101

Colorado Springs Properties Appraisal 101

Appraising the Colorado Springs Real Estate that you are considering purchasing is the first step to work upon if you are contemplating on purchasing homes or any real estate property in Colorado Springs for investing purposes. This is the primary prerequisite to get the financing from the bank or any other lending group. These lending groups compute the value of the properties that you intend to acquire, and against that, will determine the amount of loan allowed. This is for their protection; just in case you discontinue paying the mortgage. They can at least get the capital that they have loaned to you.



Both the buyer and the seller will benefit when Colorado Springs properties receive appraised value. This helps in identifying the real price of the said piece of real estate. If the appraiser formally affirms the value of the property, then there can be no cheating while selling or buying. The price can also be bargained as per the appraised value.



One will be able to distinguish an experienced and competent appraiser. A skilled appraiser collects all the information necessary and will present with an assessment of the Colorado Springs homes for sale as well as taking into account cost options. To make sure that valuation of properties is done correctly, please seek references from an experienced Colorado Springs REALTOR.



Even if you do not take loans from the bank, the only way to get the correct value for Colorado Springs real estate is by appraising it. Doing so is necessary in order to avoid the errors in judgment of best guess price vs appraisal. If you make the mistake of not doing a proper valuation and found out later on about your error, you will bear the consequences. That is never an option if you are a true Colorado Springs properties investor. Please visit here for more information about investing in Colorado Springs commercial real estate.

Will Sweat Equity Pay off in Colorado Springs?

Will Sweat Equity Pay off in Colorado Springs? - Homes For Sale in Colorado Springs

Beware of the Sweat Equity GUARANTEE! Not every incomplete Colorado area home is an unpolished gem that is yet to be discovered!



Some home buyers have a modest budget for obtaining homes in Colorado Springs real estate. Understandably, many of these buyers try very hard to get a decent deal on incomplete or unfinished homes. This kind of home market is pocketbook friendly - not only do they have a lower monthly mortgage payment, but their down payment is also far less. If you are one of the many people looking for these types of Colorado Springs homes for sale, congratulations, but please take one minute to read this as it might help you a little bit. We would also recommend that you speak with a Colorado Springs REALTOR to assure your success.



Before making offers on incomplete homes for sale, make sure you know exactly which parts of the Colorado Springs properties are unfinished. Usually, it is the upper area that is in need of some minor improvement, but the lower level that is unfinished and relatively incomplete. If you find that the opposite is true, you might want to proceed with some caution. Upper level problems need to be addressed immediately and can pose some monetary problems if you are on a tighter budget.



That being said, as soon as you have settled on making an offer for an incomplete home in Colorado Springs, you should work up a complete step by step home improvement schedule. If the main part of this house is incomplete such as roofing, plumbing or electrical, it will have to be a top priority! The bottom line is: check the degree of the incomplete job that it's got and start to make some timelines and schedules.



Be sure that the unfinished home is in living condition. At least one bedroom, bathroom and living room should be complete and liveable. Remember that in Colorado Springs the bank inspects the basics for you to be approved for a mortgage, particularly if you are considering FHA or some other form of first time buyer financing. If the bank feels that the property is not liveable, they will say no to your mortgage application. Let the banks check it before writing that offer.



It would be helpful for you to decide on making an offer if you see the plans of the Colorado Springs area home. By doing this, you will have an overview of what has been done and what needs to be done. You will then have the option to complete it or just walk away from the unfinished home and save yourself money.



The lesson here is simple: Buying incomplete homes for sale in Colorado Springs does not always spell savings. However, they can make a good investment for you if you can finish the home as per your fondness and as your family gets bigger.

To Furnish, or Not to Furnish? - Home Selling Tips

To Furnish, or Not to Furnish? - Home Selling Tips

Do empty Colorado Springs homes for sale have a better chance of selling if they were furnished? A lot of realtors would prefer to list a furnished home because the numbers support that an empty home is typically harder to sell.

Let's Explore Some Colorado Springs Real Estate Tips Related To This Topic:

According to studies of the eye, an empty room will almost always appear smaller than a furnished room. When home buyers view Colorado Springs properties, they are trying to get an idea of how a home will work with their furnishings. In many cases, home buyers will relate the size and fit of furnishings already present in a home for sale to their own. If homes are empty, it makes this part of the buying process much more difficult.

Many home buyers will purchase a property based on a feeling. An empty home can sometimes give off the impression that, well, it is empty and all alone. An empty home will sometimes have a hard time giving off a warm inviting feel. Now, this is not always true with new homes or homes that have been completely remodeled from head to toe, but this article pertains to the typical homes for sale in a marketplace.

Another contributing factor to the reasons why empty homes are harder to sell is that there are fewer things to look at and draw a home buyers attention away to things that may not be perfect inside a home. A typical home buyer does want to spend their time making repairs and fixing glaring problems. By leaving a home empty, there is an increased likelihood that a small problem can appear bigger and more noticeable. For example, carpet stains will clearly
be visible in an empty home and uncovered walls will reveal holes, scratches and nicks that may be present.

Finally, the exterior of an empty home will often be worse for wear. It is a simple fact that homes which are empty are not lived in and are more likely to be neglected. For example, the lawn may not be properly watered and mowed or the walkways will have weeds growing through or be covered with dirt or debris. Never forget that curb appeal is a huge selling point for many home buyers. You never get a second chance to make a first impression with anything, including Colorado Springs real estate.

Currently, a majority of the United States is experiencing a buyers market. There is much competition between home sellers. This being the case, you really need to consider whether keeping a home empty is in your best interests at this time. If you must move out of your home due to a job relocation, you might consider soliciting the help of a professional home stager. This can be a viable alternative. As always, be sure to consult with a Colorado Springs REALTOR before making any decisions in this area. Visit here for more information about Colorado Springs commercial real estate.

Living the High Life - Colorado Springs!

For a typical outdoor person, Colorado Springs is simply your haven! There are excellent golf courses, gold medal fishing waters, extensive trail systems and ski resorts. Go boating, swimming, hunting, ballooning and hiking! Not to forget that Pikes Peak is also close by... The weather makes outdoor activities much more inviting with over 300 days of sun every year, even as Colorado Springs goes through all four seasons. What a luxury!

The area has become prominent for providing exceptional worth in Colorado Springs real estate in deep contrast to other regions of the country; and even the nearby market of Denver.

According to economic reports, in general, Colorado Springs is sensibly optimistic with non stop job growth and the coming of ten thousand (or even more) military personnel, next to the requirement for a boost in the number of people in different support services.

Though there is a slow down in the Colorado Springs market, the interest rates are nonetheless very smartly positioned in the 5 1/2 - 7% area and there are more Colorado Springs homes for sale options than at any time in the past. If you are considering acquiring a home in Colorado Springs, now is the right time to buy!

Make natural beauty and outdoor recreation a part of your Colorado Springs living!



As always, if you ever need real estate advice, a Colorado Springs REALTOR would be glad to assist you.

Colorado Springs Homes For Sale - The Stats

Colorado Springs Homes For Sale

The Colorado Springs real estate market, in the first half of 2007, was significantly slower than in the previous 2 years. Inventory was up close to 25% and we saw new construction slow down rather significantly. It was certainly a buyer's market and it appears that we are seeing that trend continue into the second half of 2007 and probably into the 1st half of 2008!

- As we are well into the summer months, here are some Colorado Springs real estate ponderings:

1. The Colorado Springs market is expecting more military relocation over the next 12 months, but interest rates are also starting to rise. This may offset some of the positives that military influx will create.

2. This area currently has more than 7,000 single family Colorado Springs homes for sale and around 1,100 townhomes and condos currently in the real estate market. (these are 30 year highs)

3. The state of Colorado has one of the highest foreclosure rates in the country! Nearly 1 home in every 60 went into foreclosure.

4. June 2007 inventory was up 20% over June 2006, While sales were down more than 15%.!

All of these numbers seem to indicate one thing:

It is or will soon be a Colorado Springs real estate investors dream environment developing here. The positives of Colorado Springs far outweigh the negatives and this is why it is believed that the market here will make a solid comeback at some point in the future.

If you are interested or know of someone who might be interested in moving into this area. Please have them contact a Colorado Springs REALTOR. Having a buyer represent your interests in the state of Colorado is 100% free to you as a buyer. Do not view a real estate opportunity without representation as it just does not make good sense to approach a REALTOR representing a seller without your own agent looking out for your own interests.