What a glorious morning sunrise! Yesterday and today it’s a bluebird day with it being around 43 degrees. On Thursday we will be getting about 8 inches of snow for Christmas! Homes are still flying off the market! If you are looking to sell, now is the time! Interest rates are low for buyers, and I’ve got plenty who are looking for new homes!
Thinking about buying an older home? First and foremost get an inspection! Inspectors might steer you towards getting the foundation inspected, electrical and plumbing inspected by licensed professionals.
Check the crawl space and attic for proper insulation.
Does the home need new windows? Doors?
How’s the neighbor? Barking dogs, screaming family, loud music?
How’s the landscaping? Old trees that need trimming or taken down?
How’s the sewer lines? Might want to get an inspector to do a sewer scope.
How’s the roof? Siding?
Do your homework before you buy and you can save yourself some money and stress. For more tips: call Carrie Summers 970-759-2540 MancosHomes.com
I’m here to help! Carrie Summers ~Colorado Ranch & Home Realty 970-759-2540
“For people living in wildfire-prone areas here in Colorado, mitigation is a proven method to reduce the risk to your home and property,” said Insurance Commissioner Michael Conway. “Now is the time to take what steps you can, before we get any further into this summer’s wildfire season.”
The Storm Prediction Center issued the first extreme fire danger warning for Western Colorado and Eastern Utah in 15 years. Unfortunately, this serves as a reminder that we are now in the height of wildfire season in Colorado and the West.
Tips for wildfire mitigation
We have a couple of great companies that can help you be proactive. Give Carrie Summers a call 970-759-2540. We are here to help!
Thinking about selling and unsure if you should renovate? Will it make your home more appealing to buyers? Will you recoup the cost? Renovations might not be for important in the current market.
Homes are currently flying off the market if priced right. Multiple offers and above asking price is the norm. Due to the high demand, spending time and money on renovations might not be smart.
Cleaning up the property is still key, and decluttering. However some repairs might not be necessary.
In today’s market, many buyers are willing to take on home improvement projects, thus they can transform the home to their needs and tastes.
Contact me for how to get top dollar for your home, without doing major repairs.
Homes are flying off the market! Multiple offers and above asking price are the norms on the majority of homes being sold. If you are a buyer, be pre approved with letter in hand. If buying with cash, have a proof of funds letter.
If you are a seller, your place is probably worth more than you think! Give me a call I’m here to help!
Here are the main costs to consider when saving for a home:
Down payment: Your down payment requirement will depend on the type of mortgage you choose and the lender. Some conventional loans aimed at first-time home buyers with excellent credit allow as little as 3% down. But even a small down payment can be challenging to save. For example, a 3% down payment on a $300,000 home is $9,000. Use a down payment calculator to decide a goal, and then set up automatic transfers from checking to savings to get started.
Closing costs: These are the fees and expenses you pay to finalize your mortgage, and they typically range from 2% to 5% of the loan amount. You can ask the seller to pay a portion of your closing costs, and you can save on some expenses, such as home inspections, by shopping around.
Move-in expenses: You’ll need some cash after the home purchase. Set some money aside for immediate home repairs, upgrades and furnishings.
Figure out how much you can safely spend on a house before starting to shop. NerdWallet’s home affordability calculator can help with setting a price range based on your income, debt, down payment, credit score and where you plan to live.
Your credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer. Take these steps to strengthen your credit score to buy a house:
Get free copies of your credit reports from each of the three credit bureaus — Experian, Equifax and TransUnion — and dispute any errors that could hurt your score.
Pay all your bills on time, and keep credit card balances as low as possible.
Keep current credit cards open. Closing a card will increase the portion of available credit you use, which can lower your score.
Track your credit score. NerdWallet offers a free credit score that updates weekly.
The real estate market has had its ups and downs in 2020. When COVID hit in March, the market came to a standstill. But that changed in the summer—and buyers are out in full force, driving major increases in both home sales and home prices, even during the winter.
According to data from the National Association of REALTORS®, in October, existing home sales were up nearly 27 percent from October 2019. And the median existing home sale price in October was $313,000. That’s up from $271,100 in October 2019—an increase of nearly 16 percent!
With more families homeschooling and working from home, why not live somewhere you love!
COVID-19 vaccines, stock market soaring and with mortgage rates hovering around 3%, this real estate growth will continue.
The Takeaway:
So, what does that mean for you? Buyer demand is extremely high, which is driving up sales, competition, and prices—so if you’ve been thinking about selling your home give me a call.
Carrie Summers 979-759-2540 MancosHomes.com
A good credit score is important when applying for home financing. Here are 7 ways you can increase your score:
Late payments can stay on your credit report for 7 years.
You are entitled to one free credit report a year from each of the three reporting agencies. Requesting one has no impact on your credit score. Review your report and dispute any errors such as wrong or outdated information.
Closing a credit card can lower your utilization which can lead to a lower score. Keep the card open and use it occasionally so the issuer won’t close it.
If you can afford it, pay down bills every 2 weeks rather than once a month. This lowers your credit utilization and improves your score.
If you miss payment deadlines, and can’t afford your monthly bills, call and set up a payment plan immediately.
Get a prepaid credit card from a bank for $200-300. Don’t overspend and use it to purchase gas and other small purchases. Pay the bill on time and you will get the pre-payment back in 6 months to a year, as well as a higher score.
Give me a call – Carrie Summers 970-759-2540. I’m here to help you become a home owner!
Just above the town of Mancos, there are endless hiking trails where you can explore and seldom see anyone. This past weekend I hiked on some old closed off mining roads and never saw a soul! At 10 am it was 56 degrees and after hiking 6 miles it had warmed up to 67! Pretty sweet when Phoenix and Albuquerque areas are having record breaking heat this summer.
I am always looking for a hiking buddy! Come explore with me and find out why Mancos is a great place to call home!!
