Colorado Springs Weekly Real Estate Report

Colorado Springs Weekly Real Estate Report

weekly report 080716

 

Above is the weekly real estate report for the past week. Thinking of buying, selling or just want to know what your home is worth, give me a call! I would love to chat with you about it.

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!

Real Estate Advisor: August

 

Real Estate Advisor: August
Real Estate Advisor: August 2016
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Updates, Renovations and Remodels
When selling a home or property, one of the main goals of the seller is to get the highest offer possible. If the market is hot, the chance of getting a high offer is relatively high. If the market is on the cooler side, many sellers look to alternative options to make their properties more marketable, usually by way of a remodel, a renovation or by updating the property. But what is the difference between a remodel and a renovation? Is an update something that’s easy or difficult?

While there are no doubt projects that see better return on investment than others, homeowners have a number of options when it comes to boosting their property’s value. If you’re not particularly ready to put your property on the real estate market, but are looking for ways to help boost your home’s overall value, an update, a renovation or a remodel might be just what you’re looking for at the current time.

Updates

Want to help boost your home’s value but have a limited budget for projects? Updates are a great option for the homeowner that has limited resources, funds or even time. But what’s an update? An update essentially brings new life to your property, and perhaps brings things up-to-date, but it does so without significant alterations to the existing structure or property. Updates that are common in many households are updating light fixtures, installing new appliances, updating the home to be more energy efficient, updating exterior paint or changing interior colors, etc.

Depending on your budget, updates shouldn’t break the bank, but they can help to boost a property’s value or overall marketability. Buyers like seeing updates, especially when they help boost the overall appearance of the home. Updates are a great and relatively convenient way of sprucing up a home without dedicating a huge amount of time and money to projects, and even minor updates can help boost a property’s overall value. Even just repainting the exterior trim can make a big difference.

Renovations

Renovation means to restore to a good condition or make new again. Renovating a property or a part of a property refreshes and revives it. Renovating can cover a number of different things: renovating plumbing or electrical throughout a home or property, refinishing hardwood floors, re-facing kitchen cabinets, adding modern finishes and fixtures to an older home. Renovating a property generally means that you’re making the property meet current market expectations. Renovations, especially of certain rooms, can make spaces much more attractive to buyers but also add considerable value. Kitchens are one of the best options for a renovation when it comes to overall return on investment.

If you’re looking to help boost the overall value of your property, adding stainless steel appliances to a kitchen (or even updating to newer appliances), putting in granite or other stone counter tops, changing outdated cabinet doors and hardware can all help boost a property’s value and catch a potential buyer’s eye. Depending on the number of projects you’d like to tackle, renovations can be relatively quick or take time and cost a few dollars. Again, your budget and time frame will determine the scope of your project, but renovations can add considerable value to your property and provide a large return on investment when it comes time to sell.

Remodels

Remodels require a little more time, labor and funding, and more often than not remodels involve removing or moving walls, building additions or anything that includes significant structural changes to increase utility or appeal via replacement or expansion. A remodel changes the use of a space by altering the structure and the style of a home. Popular remodels include kitchens, bathrooms and even going so far as to add additional square feet to the entire house. Because of how extensive a remodel can be, it’s always suggested that permits are obtained for the work and that an architect and/or contractor is used to make sure any work is done according to current local building codes.

Remodels that help improve a space can increase a property’s value immensely, and in some hot real estate markets could even see a 100 percent return on investment. Some of the most popular remodels home buyers seek: kitchens, bathrooms, and additional square footage (adding rooms) as they show the homeowners invested in the property and took the time to improve it for the future.

Updating a home or property, or choosing to renovate or remodel, is a big decision and ultimately depends on how much time, effort, money and sweat a seller wants to put into the task. But if you’re on the fence of whether or not your property could fetch the highest selling price in today’s market, considering an update, a renovation or a remodel might be the best solution at the current time to get your property to the top of every buyer’s list.

 

 

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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!

July Real Estate Advisor

July Real Estate Advisor
Real Estate Advisor: July 2016
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Appraisals and Home Inspections
When buying or selling a home, many have heard of an appraisal and a home inspection. While both are very important to the entire transaction, an appraisal and home inspection are two very different things. If you’re looking at buying a new home or property, or you’re interested in selling your current property, it is beneficial for both parties to know the difference between the two and why they are important.

What is a home appraisal?

A home appraisal is an educated guess as to the worth of a property.

An appraisal is required by a financial institution; if you’re looking to get a mortgage loan, the property will have to have an appraisal. If a mortgage loan is not needed (the buyer is paying with cash), then an appraisal is not required for the purchase. Who pays for the appraisal? As part of the final contract, the appraisal can be negotiated between the buyer and the seller, but traditionally the buyer pays for the appraisal.

But why is an appraisal needed?

An appraisal lets the bank or lender know what the loan collateral will be set at for a worst-case scenario situation. What does this mean? The bank wants the home to appraise for a similar amount they are going to loan to the buyer. Should anything happen, and the bank has to sell the home, the bank doesn’t want to be stuck with a home that had a million-dollar loan on it but can only be sold for $100,000.

Appraisals are important, but they can be a tad stressful. The appraisal is done after the sale price is negotiated and the contract has been signed, which is why many people hope the appraisal is close to the sale price negotiated by the buyer and seller. To protect the transaction for both sides, the buyer and seller should have a sales-and-purchase agreement that addresses the possibility of the appraisal being below the purchase price. This would allow the buyer to terminate the contract or renegotiate the sale price. If not, the buyer could be obligated to cover the difference between the purchase price and the appraisal.

What does an appraiser do?

The appraiser will walk around the property and look at the value of the home, but she or he will also make note of any problems or issues. It has happened that an appraiser has pointed out things to be fixed in order for an appraisal to come back higher. Appraisers mainly look to check the main characteristics of the house: square footage, bedrooms and bathrooms, the overall condition of the property, recently sold comparable properties in the area and any noticeable health or safety issues. Appraisals are not an in and out thing – they can take up to a couple days to complete, and loan underwriters can request more information than in previous years. As a seller, the number one thing you can do to help the appraisal process is to make sure the house or property is in good order.

While an appraisal determines the value of the property based on an inspection done for the loan company, an appraisal is not a home inspection. The appraisal is for the mortgage lender; the home inspection is primarily for the buyer.

What is a home inspection?

A home inspection is the inspection of the physical condition of a home or property. A home inspector is going to look for defects or malfunctions in the property’s structure, systems and physical components (which can be anything from the roof and plumbing to the HVAC system, floors, windows and foundation). A home inspection generally takes place after the seller and buyer have signed the contract. The home inspection can help guide any repairs that might need to be done to the property, or it can alter the final selling price if major repairs need to be done to the property. But it’s important to remember that a home inspection is not a mandatory part of buying a property. Sellers can sell their properties “As Is,” and any home inspection done will simply be a way for the buyer to know what to expect once they receive the keys.

Who is responsible for the home inspection?

The buyer generally arranges and schedules the inspection; your agent or Realtor will most likely be able to suggest a home inspector she or he has worked with in the past, but it’s important to make sure the inspector has experience and is a member of the American Society of Home Inspectors. But the most crucial part of the home inspection is to provide a thorough and tough inspection of the property to the buyer.

When buying or selling a home, it’s important to know and be aware of all that is available to buyers and sellers. While the appraisal is done for the benefit of the lender, the appraisal also benefits both the buyer and seller by determining a value on the property. The home inspection is done for the benefit of the buyer, but it’s also a good indication for the seller about the property and any issues that might need to be addressed should the buyer drop out of the transaction. Both an appraisal and home inspection are valuable and important parts of a property transaction.

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June Real Estate Advisor

Real Estate Advisor: June
Real Estate Advisor: June 2016
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Finances and Buying a Home
Home ownership has always been a top dream for millions of Americans, and with the many television shows, magazines and other media geared toward owning a home in the U.S., buying a home is very much a reality in our country.

While we can get caught up in the very fun aspect of looking at homes, browsing the many websites dedicated to real estate, looking for a home or property is just one aspect in the entire home buying process. One part, of which is fairly important and might be casually looked over at the beginning, is that of getting one’s finances in order to begin a home search. Finances are a huge part of buying, especially if you’ll be applying for a mortgage loan. To put yourself in a great position before you begin your home or property search, use the tips below regarding credit, a home budget and having cash for a down payment and closing costs to help you ensure you have your bases covered before you begin your property search.

Credit

One of the most important aspects of your finances when it comes to buying a home, or even in general, is your credit. Your credit is your ability to obtain goods or services before payment. Credit, when it comes to home ownership, generally means a mortgage loan. The majority of buyers in the United States will have to obtain a mortgage loan in order to purchase a home or property, and that’s ok. Mortgage loans have been around for decades, helping buyers who might not have a cash payment be able to afford a home. If you are one of the thousands of home buyers that will need to look into a mortgage loan, getting your credit in order before looking at homes is an excellent step to take in getting your finances in order.Your credit is made up of your credit score and your credit report. A credit score is a three digit number that is generated based on what is in your credit report, and it basically tells banks and other lenders what your creditworthiness is. In general, a higher credit score means better creditworthiness. Your credit report is a detailed report of your credit history, and the information is used to generate your credit score.

When most people consider buying a property, one of the first things that’s suggested is to get one’s credit in order. This can mean a number of things, but it includes running a credit report, checking a credit score, and paying off or paying down any debts that might be outstanding in order to have a better credit score and higher creditworthiness. If you’re looking at buying, run your credit report to make sure it’s current, up-to-date and that there’s nothing ‘off’ on the report. You want to make sure all the information that’s listed is true and only pertains to you.

Budget

We all can get wrapped up in the fun and excitement of property searches, and many times our wants and likes go beyond what our budgets can afford. Once you have your credit in check, the next thing to do is determine your budget. The best advice to heed when thinking about a budget: you want to be financially comfortable. You already know your monthly expenses as a non-homeowner, but if you don’t, dedicate some time to sitting down and writing out all your monthly expenses to get an idea of how much you or your household spends each month. Compare this number to the amount of money you bring in each month. If you’re already renting, you know how much of your income goes toward your rent, renters insurance, and any other expenses that come along with your rental unit.If you don’t rent, once you have all of your spending written out, you’ll have a good understanding of how much you have left each month that can go toward a mortgage payment or toward a down payment. An excellent tool that can be found on the Internet is a Home Affordability Calculator – this helps to determine a comfortable monthly payment based on all of the other recurring expenses a household might have.

Cash for a Down Payment and Closing Costs

Another part of finances when it comes to buying a home or property is a down payment and closing costs. You’ve made sure your credit is in order; you’ve figured out a comfortable budget for a monthly home payment; now is the time to set some cash aside. A down payment is generally required when taking out a mortgage loan. Most lenders require a down payment and it goes toward the total amount of the mortgage loan. Your down payment is going to be based off of the type of mortgage loan you get – which, percentage wise, can range all the way up to 20% of the total purchase price. There is no limit to the down payment, as you can pay as much as possible toward it, but for the majority of home buyers the down payment will be anywhere up to 20% of the final price.Another cash expense of home buying is closing costs. Closing costs are fees that are associated with the closing of a real estate transaction, and they are paid either by the buyer, seller, or both parties together. The costs are based on the type of property that is purchased, the location of the property, and a number of other things, but for the most part closing costs can range anywhere from 2 to 5 percent of the purchase price. Closing costs, just like a down payment, are made in cash, and sometimes buyers can negotiate for a seller to cover closing costs. To be on the safe side, have enough cash set aside to cover both a down payment and closing costs when buying a home or property.

Buying a home is an exciting life event, but it’s also a large financial event. Before you begin your home search, have all your bases covered when it comes to finances and the home search will be much more rewarding and less stressful in the long run.

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5 Things to know about your neighbors before you sell

5 Things to Know About Your Neighbors Before You Sell

Considering selling your home? You may be competing against your neighbors. Here are some things to look at with an agent before you list:

1. Who’s remodeled?

Tap into the neighborhood grapevine to find out who’s remodeled their kitchen and upgraded their bathroom. An agent can look up the listing and sale price of those homes to find out if updates made a difference.

2. How fast are homes selling?

Keep an eye on how quickly neighborhood homes have been moving off the market. A low inventory may mean you can set a higher listing price. Your realtor can add valuable pricing insight.

3. Take inventory of the inventory

It’s difficult to fetch a competitive price when you’re competing for buyers. If several homes are for sale on your street, waiting a season may prevent your home from languishing on the market. Talk to your Realtor about market trends in your area.

4. Stay current on planning and zoning news

Keep tabs on upcoming public projects that could impact the timing of your sale. Is major road construction planned that may deter buyers? An agent can discuss selling strategies to work around issues.

5. Get the scoop on your hood from an expert

A Realtor familiar with your unique market can put it all in perspective if you’re considering a sale.

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!

7 Tips for Using Flowers to Boost Curb Appeal

7 Tips for Using Flowers to Boost Curb Appeal

Used strategically, flowers can be a powerful tool for increasing your home’s curb appeal. There’s a method to leveraging all those petals to help your property bloom. Follow these tips.

1. Buy a color wheel
Spend a few bucks at your local paint or art supply store on a color wheel to help you understand how different colors relate to one another. Choose flowers with colors close to one another on the wheel for a more harmonious scheme, or colors on opposite sides of the wheel for a complementary color theme. To really mix things up, choose three colors that are equidistant from each other on the wheel.

2. Use color to “enlarge” your yard or garden bed
A monochromatic color scheme can help create a feeling of spaciousness because the eye is not interrupted by other colors. To mix things up, add lighter and darker versions of the same color flowers.

3. Highlight favorite features
Have a fabulous front door? Draw eyes to it by planting brightly colored or white flowers around it. Flowers can be an effective way to accent the architectural features you – and prospective buyers – love.

4. Use white
White can be the most attention-grabbing color in landscaping. White flowers and foliage serve as terrific focal points, make other colors look richer and create a sense of depth in a garden.

5. Don’t forget green
There are so many vivid shades of green to use when highlighting your home. Combining different shades and a variety of foliage textures can add depth and excitement.

6. Anticipate changing seasons
Remember to plan for how the colors of the plants you choose will change with the seasons. Add in some year-round perennials so your yard is still vibrant when flowers wilt in cooler seasons.

Tired of having your green thumb limited to container gardens on your patio? Find out what kind of yard you can afford by talking to a Realtor who knows your neighborhood. Find an agent here.

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!

7 Tips for Pet Owners Selling a Home

7 Tips for Pet Owners Selling a Home

Lingering animal smells and fur can be a turn-off for would-be buyers. Be sure to remove all signs of your furry friends before showings. Here are some tips.

1. Holey backyard, Batman!
Does your dog bury more bones than they munch on? Start at the perimeter of your yard and circle inward to find your pup’s landscaping efforts and fill them in.

2. Scoop the poop
One misstep can ruin a buyer’s impression of your yard (and possibly home). Make sure your property is clear of any pet-related landmines.

3. Mend fences
Check your fencing, deck and porch for any marks from scratching or chewing. Most can be erased with elbow grease and a bit of sandpaper.

4. Stash the evidence
Collect your pet’s toys, bowls, beds and litter boxes and keep them out of sight. Hide pet photos for now, too.

5. De-scents-itize
Have a friend or Realtor come by to sniff out any animal scents you may have become accustomed to. Light candles, open windows or hire a professional carpet cleaning crew to deodorize your home.

6. Need a buffer?
Have claws scratched up your lovely hardwood floors? Ask your Realtor if professional resurfacing might be a good idea.

7. Don’t leave pets home during showings
Not only is there a chance they may bolt through an open door when strangers stroll around, there’s also a liability issue. It may be a good idea to temporarily relocate exotic critters, such as snakes or tarantulas.

Looking for a home with a bigger yard for Fido, or more naturally-lit lounging space for Fluffy? Your Realtor can help you find properties with features all members of your family will love. Give me a call if I can help you find your new home.

#remax #real estate

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!

May National Housing Report

May National Housing Report: What the Numbers Mean for You

The home-buying season was just starting in April, with a 7.5% sales increase over March and 3.2% increase over April of 2015, according to the May National Housing Report from RE/MAX. The Median Sales Price in April was $215,000, which was 5.4% higher than one year ago.

Buyers should note: While warmer months are traditionally known as the “home-buying season,” an average monthly year-over-year sales increase of 4.3% so far in 2016 means the market may remain competitive long after the kids are back in school. Work with an experienced agent to develop a buying strategy for the neighborhoods you’re interested in.

Sellers should note: The inventory of homes for sale remains very tight in many markets across the country, with April 2016 inventory 15.2% lower than April 2015. This may mean your house sells for a competitive price, but also that a competitive offer may be needed to buy your next place. Work with your Realtor to figure out a move-out, move-in timeline that doesn’t leave you in limbo.

Learn more about the current state of the market in the infographic below.

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 05302016

 

Above is the weekly real estate report for the past week. We are slowly increasing the all actives which is a great thing. If you have any questions about the market give me a call I would love to chat with you about it.

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 05202016

 

The weekly report shows that the market is doing a bit better each month, but the inventory is still super low. We still only have a small amount of inventory compared to what we need to be a healthy market. Please if you or anyone you know is thinking of selling give me a call.  I would love to talk to you about this.

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!