Real Estate Revolution

April 20, 2009
- DID YOU KNOW?

William Larimer, Jr. (1809-1875) was a settler and land developer. He is most famous as the founder of Denver in 1858. Larimer often went by "General Larimer", having acquired the title in the Pennsylvania Militia.

In 1858 Larimer helped found the Denver City Land Company with the intention of creating a new city in the western part of the territory. On November 28, 1858, Larimer arrived at a hill overlooking the confluence of Cherry Creek and the South Platte River. Larimer staked his claim by laying cottonwood logs along a square-mile parcel of land on the hill. Larimer chose the name "Denver City" to honor the governor of the Kansas Territory, James W. Denver, with the intention that the city would become the county seat of Arapaho County.

Larimer platted the site and aggressively sold tracts to miners and other migrants traveling through the Rocky Mountains. In the first years, tracts were often traded for grubstakes and in gambling. Denver City merged with its rival Auraria . The true founder of Denver, William Greenbury Russell, went on to found another gold rush town, Russells Gulch. Larimer was instrumental in the formation of the Colorado Territory in 1861, and in making Denver its capital.

Larimer died in 1875 in Leavenworth, Kansas. He is commemorated in the city he helped found by Larimer Street in downtown, as well as Larimer Square.

NOW YOU KNOW.


April 20, 2009
- THE TIME IS NOW!!!

For buyers and sellers the time for action is now!!! For some, the time for action was yesterday. The Denver real estate market has seen a huge surge in activity for homes priced under $250,000. I, and many others of my colleagues, have been in bidding wars for homes in this price range. With the winning bid sometimes being 10, 20 even 30 thousand over asking price. Home buyers and investors with the foresight to get out ahead of the market were able to pick up homes at amazing prices and may soon see some appreciation. This same surge is starting to move into the under $400,000 price range and soon to move beyond that. For buyers looking for a great deal the door is wide open. Even reports in the media are starting to state the positives of the real estate market in Denver. Click on the attached link for a report on Channel 7 News www.thedenverchannel.com/save-money/19134459/detail.html . As more and more take advantage of the perfect combination of low interest rates and affordable prices, our supply of available homes will decrease. Simple economics dictates that prices will start to go up. For sellers, regardless of if your home is priced within the current surge or the coming one, now is the time to either get your home on the market or to plan and prepare your home for the near future. For free reports to help you plan and prepare for either the buying or selling of a home, please visit www.rerevolution.net and click on the buy or sell tab. As the famous quote from Alan Lakein says "Failing to plan is planning to fail."

Keith Archer – Real Estate Revolution


April 7, 2009
- RED FLAGS FOR HOME BUYERS DURING INSPECTION

April marks National Home Inspection Month and the start of the peak home buying season! Here is a simple list of "red flags" to watch out for during the home buying process. Each of these red flags could be a sign of significant issues and defects and each should be thoroughly evaluated by a professional home inspector before potential buyers make an offer on the home.

Numerous extension cords:
This could be a sign of an outdated electrical system. Today's electrical needs have grown significantly and as a result the home could require an entire electrical upgrade to meet these new demands. A professional home inspector will be able to assess whether a new panel and wiring is needed or additional receptacles will need to be installed.

Low water pressure or gurgling:
If you turn on the faucet and the pressure is low, it could be evidence of a problem with older galvanized piping or inadequate piping. A professional home inspector will indicate the type of piping and estimated age and determine whether or not an entire new plumbing system is required. In many instances, sections of piping can be replaced on an as needed basis to correct the problem.

Horizontal foundation cracking: Vertical cracks are, for the most part, within normal settlement tolerances. Horizontal cracks are not. A horizontal crack generally results from hydrostatic pressure against the home's foundation. Correction will often involve excavation, drainage provisions as well as repairs to the wall itself. If horizontal cracking is evident, several structural engineers should be consulted to ascertain the extent of movement as well as corrective measures. Opinions do vary and with a structural element issue, it is best to get several opinions.

Musty smell in basement:
Storage in the basement that is raised off the floor (such as books and boxes), stains, or efflorescence on walls are conditions that can indicate water in the basement. A professional home inspector can assess potential causes. Simply improving the property grading or draining downspouts further away from the foundation could be a solution.
Wall or ceiling stains: Any stain should be further evaluated to determine the cause and extent of any possible hidden damage. A professional home inspector will look for causes of the stain as well as test the stain using a moisture meter to determine whether or not the stain is active.

Vacancy:
Often a home that is in foreclosure is vacant which increases the potential for the home to deteriorate due to lack of maintenance, and ventilation. Mold and other moisture problems are very common in vacant foreclosed homes as are plumbing problems due to drying gaskets and valves or freezing pipes.

When purchasing a home, a buyer should never forego a professional home inspection. The tips above are some basic guidelines so that potential buyers can effectively and efficiently narrow down their options while evaluating potential homes for sale. Once a choice has been made, a professional home inspection by a qualified inspector will provide the potential buyer with an education on the home enabling them to make an educated real estate decision.


March 30, 2009
- Spring Ahead! The Perfect Time to Buy a Home.

For the first time in 30 years, potential home buyers have the advantage of very low mortgage rates combined with a vast inventory of homes and relatively lower prices. If you've considered becoming a home-owner, or buying another property, you have a great chance to "get ahead" this spring!
By acting now during the spring selling season, buyers have time to find a home, complete the sale and move in by summer. This leaves plenty of time to make changes and fully move yourself into your new abode while the sun is shining. Also, there is still time purchase a vacation or second home and enjoy the summer there.
The most seasoned investors and smart buyers are beginning to realize the perfect combination of low interest and low home prices and are out in the marketplace already! This is one more reason why it's crucial to have a strong team working for you and your best interests to efficiently find you the perfect property.
Get prepared and know your options to make your home buying experience successful.
- Plan a budget and start a fund for your down payment. Although it is possible to get a mortgage with only five percent down (or even less in some cases) you can usually get a better rate and lower overall cost by putting more money down.
- Do your homework to determine how big a mortgage you can afford. Your mortgage lender can assist you with this process or you can do the work yourself with online mortgage calculators.
- Retain a good real estate professional who is experienced, an excellent negotiator and knows the local housing market. A real estate transaction is complicated and is difficult to complete alone. In most cases, buying a home requires completing disclosure forms, inspection reports and mortgage documents as well as getting insurance policies and taking care of many details. Finding someone who can guide you through this process will help avoid delays and costly mistakes.
- Know what kinds of other professionals you will need to make to complete the transaction. Some of these professionals include a home inspector, appraiser, title company expert, tax advisor and various environmental inspectors and specialists.
- Determine your closing costs. From homeowner's and title insurance to well water testing, there are many costs, both large and small, that a homebuyer will be expected to pay at the signing. Your REALTOR and mortgage loan officer can provide an accurate estimate of these costs, so there are no surprises as the transaction approaches a close.
Remember, while it is a perfect time to buy a home, it's important to do things right. We want to ensure that the home buying memories you create this spring are positive ones!


March 30, 2009
- How to Avoid Real Estate Closing Problems

An unexpected problem on the day of your real estate closing can turn the experience from a dream into a nightmare. With a little research and advanced preparation you can ensure a smooth closing process before you are handed the keys to your new abode. Here are some frequent closing-day mishaps, and advice on how to prevent these fiascos from ruining your home buying experience.

Check it out... your final walk-through

Make sure to have your REALTOR schedule a visit with you to your new home prior to the closing. If you asked for several items to be repaired as part of an inspection notice, then you may want to go the day before the closing and make sure everything is in order. You want to ensure not to have a "surprise" after the closing, such as a missing appliance or a hole previously hidden by a large painting, missing curtains or blinds, or even damage caused during the move-out. Should you find something unexpected, it's much easier to solve the problem prior to everyone "signing on the dotted line!"

Don't change a thing!

A lender may "re-check" your credit prior to the actual closing, so make sure you don't affect it! Your approval isn't final until you've signed the paperwork at the closing table and the loan has funded, so don't do anything that could affect your credit or debt-to-income ratios. Don't buy a new car, don't apply for credit cards (which include signing up for special "no payments, no interest" deals), don't change a thing! You'll have plenty of time to buy new furniture for your new home!

Verify closing costs

Before closing, you will receive a settlement statement that outlines the final costs associated with your mortgage. It's important to read this over carefully and compare these costs to those listed in the Good Faith Estimate or (GFE) that you initially received from your lender. Usually, the closing costs should not be significantly different from those initially quoted, but sometimes there are valid reasons why they may be a little higher. You need to pay these costs with guaranteed funds, so plan to go to the bank before the closing meeting and get a cashier's check (or certified check). Also, don't forget to bring your personal checkbook just in case numbers changed slightly and a proper I.D. (driver's license is all you'll need.)

They won't leave!!

As hard as it may be to believe, some buyers arrive at their new home only to find that the previous owners have not yet fully moved out. Your REALTOR should have indicated a monetary penalty in your purchase agreement making the seller responsible for expenses you incur if the home is not actually vacated.

Having a good team working for you will help you to be both financially and mentally prepared for your closing. By carefully thinking through all the steps involved you can likely avoid any potential problems and have a smooth closing.



tags
archives
  • April 2009 (3)
  • March 2009 (2)
    • Things to do on buzzherd: Professional Networking | Get A Custom Branded Website |  Custom Design A Blog | List Your Company in the Business Directory | Join Networking Groups |  Find Networking Events | 

    Denver Business Networking & Business Marketing Tools | Minneapolis Business Networking & Business Marketing Tools | Portland Business Networking & Business Marketing Tools |

    copyright 2008-2009 buzzherd llc - business networking & business marketing tools