Colorado Springs Weekly Real Estate Report

Colorado Springs Weekly Real Estate Report

 

weekly report 05012016

 

The weekly report shows that the market is doing better although houses are still going super fast. 361 sold in the last 7 days! I keep saying, if you are even thinking of selling now or in the future, give me a call I would love to talk to you about buying or selling a house.

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Colorado Springs Weekly Real Estate Report

Colorado Springs Weekly Real Estate Report

weekly report 04262016

 

 

 

The weekly report shows that the market is doing well, we are increasing our active houses on the market slowly. This is the right direction, but we still need houses on the market. Houses are going under contract super fast so it is a struggle to get the number of active houses to increase. Like I keep saying, if you are even thinking of selling now or in the future, give me a call.

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Colorado Springs Real Estate Weekly Report

The Colorado Springs Real Estate Weekly Report

April-17-2016-Colorado-Springs-Weekly-Real-Estate-Market-Report

 

The weekly report shows that the market is still doing well. Houses are not lasting long at all and our inventory is still on the low side. I know I am sounding like a broken record, but if you or someone you know is even thinking of selling, give me a call.

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Briargate Neighborhood

The neighborhood of Briargate is located North of Colorado Springs. It is a large area and densely populated with about 43,400 residents. It is one of the largest neighborhoods in school district 20. The average age for this neighborhood is 36 years old.  In Briargate there are several parks and open space, including the Briargate Trail.  Briargate is the largest neighborhood in school district 20 in northern Colorado Springs. Designed in the late 70′s to be a place to live and work and play – a community within a community. Today, Briargate boasts some of the best schools in the state, modest and high-end housing, wonderful shopping, restaurants, hospitals, and easy access to go south to downtown Colorado Springs or north to Monument.

To view homes for sale in this neighborhood click here Briargate Neighborhood

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Colorado Springs Weekly Real Estate Report

weekly report 4102016 weekly report 4102016

 

The Colorado Springs weekly Real Estate report shows the market is still doing well.  Houses are flying off of the market and not lasting long at all! If you are thinking of selling or buying or if you have any questions give me a call, I would love to talk with you!

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

 

 

Knob Hill Colorado Springs

The neighborhood of Knob Hill is located just northeast of downtown Colorado Springs. It is largely populated with a population of 3688. The average age living in this neighborhood is 46 years old.  About 35% are homeowners.  Top neighbor interests are music, gardening, travel, dogs, cooking, reading, food and baking. The things that make Knob Hill great are how quite and peaceful the streets are, the friendliness of the neighbors, and how convenient it is to shopping. The Colorado School for the Deaf and Blind and the Union Printers Home are both located in this neighborhood.

To view homes for sale in this neighborhood click here Knob Hill

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Colorado Springs weekly Real Estate Report

weekly report 432016

 

The Colorado Springs weekly Real Estate report shows the market is still doing well. Although we do still need more houses on the market, we are still pretty low in that area. Houses are not lasting long at all! If you are thinking of selling or buying give me a call, I would love to talk with you!

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

 

 

Bonnyville Colorado Springs

Bonnyville is part of the Downtown/ Central location in Colorado Springs. It is a fairly small neighborhood with about 513 residents. The average age in this neighborhood is 48 years old. About 62% are homeowners. The top neighbor interests are history, food, music, reading, family, camping, cooking, dogs, and genealogy. The neighbors love Bonnyville because it is dog friendly, family oriented, mature, friendly, and walkable. 

The link below has a list of the homes for sale in Bonnyville.

http://www.wyniarealty.com/bonnyville-homes-for-sale-colorado-springs.aspx

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Colorado Springs Weekly Realtor Report

2016-30-3--16-06-07

The Colorado Springs weekly realtor report for March 27 2016. Inventory is still low compared to last year. But the market is still doing pretty well.  If you are interested in buying or selling your home I would love to talk with you, please feel free to contact me.

Jeremy Wynia

RE/MAX Properties, Inc.
719-213-0893 Cell/Text
719-570-9000 Office Main
wyniarealty@gmail.com
www.wyniarealty.com

http://wyniarealty.smarthomeprice.com

Please give me a call or email me if you know of anyone that might want to buy or sell ANYWHERE in the world. I will take great care of them or find a top agent in another part of the country or world to help them. Thank you in advance for your referral!

Building Your Real Estate Portfolio: Part 1 Getting the Home Purchased!

So you have read some of my previous blogs and you feel like you want to get started in real estate.  Well, there are a couple of ways to get started.  In my experience the way most people get started has very little to do with a “free seminar” where seating is “extremely limited”.  Most of these “seminars” I would compare to the traveling snake oil salesman of old.  What they have will cure everything and solve any problem. You can make tons of money without using any of your own and its risk free!!!! Yeah, not likely!

The real way that many start to get involved and often the easiest way to gain entry into the world of real estate is to purchase your first house. If you are looking to buy a house and you also know that you want to fix and flip or get a portfolio of rental properties, you may as well start with your personal, owner occupant house.  You see banks have no problem lending you money to buy a house you are going to live in.  It is in most circumstances the easiest loan you will ever get and you have the most options, VA, FHA, FHA 203K, conventional, or any number of “first time home buyer” type products. The one you choose is the one that best suits your plan and personal situation. Even better is that you will get a lower interest rate on an owner occupant purchase than an investment purchase and most lenders will allow between 6 and 10 owner occupant loans.

VA, FHA and most “first time home buyer” loans (which almost all run through FHA underwriting) are great products but if you are handy and want a property that needs a great deal of work, then an FHA or VA loan is likely not going to get you the property you want.  Those loan programs will not allow you to purchase a house that needs a ton of work. They will however get you in with the least amount of money down and sometimes that is what you need. You need a place to live and that is the first home investment step in what can be a life long process.  The one sort of loophole to this is to buy a house that is very dated and priced accordingly.  The FHA and VA loans don’t care that the house is dated, they do care that everything is there and that the house is livable at the time of purchase. You will want to make sure that you have a VERY knowledgeable realtor if you are thinking about going this rout. If they do not know tons about the process and about houses and maintenance you could be risking your earnest money, not to mention the cost of an inspection and an appraisal!

You will have a great deal more flexibility with an FHA 203K. FHA 203K allows  you to purchase a house that needs lots of work but the work has to be done rapidly right after the purchase and the money for the repairs are rolled right into the loan and earmarked for the repairs. This process has some pluses and some minuses.  The plus is that the home can be in pretty tough shape and you can still get it bough and fixed.  One draw back is that often you will likely need to hire a contractor to do the work and this can eat up a lot of the potential profits.  The loan itself also has quite a bit of extra work involved in the process. Lastly you will need to qualify for the entire loan amount of the purchase price and repairs. This can be restrictive if you have a high income to dept ratio, or need to max out your loan amount just to get into the market.

A conventional loan will be your best bet for purchasing a home that needs plenty of work and has lots of sweat equity. Be aware that the house still can not be in terrible condition unless you are putting TONS of money down, and even then you may find road blocks.  Lenders want you to purchase a home that they can sell if you do not make your payments. A burned out hole is hard to sell!  Again you should find a real estate pro that knows the process and can make sure that your loan will go through and reduce the risk if you loosing your earnest money.

The last and highest risk way to purchase a property is with a Hard Money Loan.  These are loans that are generally not based on the credit worthiness of the borrower but on the value of the asset. They vary a great deal from institution to institution or lender to lender.  Often times these are a group of investors or a single person that want to make a large return on their money and are willing to take bigger risks than most standard investment vehicles. Often you will need to put down a large chunk of funds up front, pay multiple points up front, carry very high interest rates and they are short term (often not longer than 6 months).  If you are buying the home to live in this is probably a bad option.

More on this subject to come!