If you’re looking for your dream home on the University Hills real estate market, it’s important to know what questions you should ask when visiting different homes with your real estate agent. The next time you tour a home, make sure you get these questions answered:

Have a lot of buyers shown interest in the property?

Ask your agent to find out how many other buyers have shown interest in the property. Why? If you’re interested, you need to know whether it will be difficult to buy the home. If a lot of other buyers are interested, you may end up in a bidding war or may lose to a buyer who is willing to pay in cash or close quickly.

How much will I have to spend on utilities?

To determine if you will be able to afford the house, you will need to know more than just the listing price of the home. Ask your real estate agent how much the utility bills are on average so you can calculate this into your budget. If the home is in a HOA community, you should also find out what these fees are so you know exactly how much you will have to spend every month.

How old is the roof?

Buyers usually spend a lot of time inspecting the interior of the home, but they often forget to look at exterior features. Be sure to ask your agent about the age of the roof. Why is this important? Roofing material can last anywhere from 15 to 50 years depending on the type. If the roofing material is only expected to last 15 years and the last time it was replaced was 13 years ago, you should know this before buying the home. Replacing a roof is expensive, so this is a major project that you will need to budget for if you plan on buying the home. There are things to look for when it comes to making roofs last.

Why are the sellers moving?

Finding out why the sellers are moving will help you determine whether they are highly motivated to sell or not. For example, if they are selling because they have to relocate to another city for a job, they will probably be eager to sell so they can begin the next chapter in their lives. This means they should be more flexible on the price and more willing to negotiate with you on other aspects of the deal. However, if they have already moved into another home in the area, they probably won’t be as eager to make a deal and will be more focused on selling their home for as much as possible.
 
Sometimes, sellers move because they think the neighborhood is changing. If you see a lot of “for sale” signs in the neighborhood, this could indicate that the neighborhood is going downhill, so be sure to have your realtor look into this as well.
 
Now that you know which questions you should ask, are you ready to buy a new home in University Hills? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.

If this is your first time buying a home on the University Hills real estate market, there are a lot of things that you may not know about being a homeowner. One topic that you may not be knowledgeable about is home insurance. Luckily, we’ve rounded up the most frequently asked questions related to home insurance so you can learn the basics.

Do you need to buy home insurance before closing?

There is no law that requires you to take out an insurance policy on your home prior to closing. It is recommended that you obtain homeowners’ insurance as soon as possible if you are buying a home, but it does not technically need to be done before you move in.

How much does homeowners’ insurance cost?

Insurance rates depend on a number of factors, so it is difficult to calculate how much it will cost you. Some of the factors that will affect how much you have to pay include your credit score, age of the home, location of the home, value of a home, and how much coverage you want.

Why is it important to have homeowners’ insurance?

Homeowners’ insurance can protect you in the event that your home is damaged by a natural disaster such as a hurricane, hailstorm, or tornado. For example, if your roof is damaged by hail, your homeowners’ insurance should cover the cost of repairs. Most policies will also cover you if personal belongings inside your home are damaged.
 
Homeowners’ insurance will also protect you in the event that someone is injured while on your property. For instance, if someone falls and breaks his arm, the insurance company should pay for the victim’s legal fees, medical expenses, and more so you don’t have to get tangled up in a lawsuit.

Are all homeowners’ insurance policies the same?

If you’ve ever purchased health insurance before, you know that every policy offers different types of protections. The same can be said for homeowners’ insurance. It’s important to shop around and research the various types of coverage that you can get with different companies. This will help you choose a policy that is right for your home. Read 10 tips on how to choose homeowners’ insurance.

Do I need a separate insurance policy to protect all the assets in my home?

If you have high-value assets such as jewelry or artwork, you should insure them in case they are stolen or damaged. Many people ask whether high-value assets are covered by a homeowners’ insurance policy, but this is a difficult question to answer. In most cases, the value of these assets may be greater than the limits outlined in your policy. This means you will need to speak with your insurance company about purchasing additional coverage to make sure that everything in your home is protected.
 
Are you ready to buy a home in University Hills? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.

Have you found your dream home on the Lowry real estate market? Before you can pack your belongings and move in, you have to make an attractive offer to the seller. But, this is where many buyers go wrong. If you want to make sure you score your dream home, avoid these common mistakes when making an offer:

Making an offer without knowing your budget.

Before you make an offer on a home, you need to determine your budget. If you plan on financing the home, you will need to meet with a lender and get pre-approved for a mortgage so you know exactly how much you can spend. If you don’t do this, you’re really just pulling numbers out of the air and taking a chance that you’ll be able to secure the loan if your offer is accepted. Serious buyers always meet with lenders prior to searching for a home so they have their pre-approval documents ready for the seller and seller’s agent to review. Read mortgage preapproval: understanding the process.

Maxing out your budget.

If you plan on spending between $200,000 and $250,000 on a new home, you should never make an initial offer of $250,000. Why? It’s a sellers’ market right now, which means sellers will most likely make a counter offer after they have received your initial offer. If you start off by offering $250,000, you aren’t leaving yourself any wiggle room. This means you won’t have any room in your budget to compete with other buyers or negotiate with the seller.

Waiting too long.

Once you find the home of your dreams, don’t wait too long to make a move and submit an offer. Talk to your agent about putting together a contract as soon as possible. You never know when another buyer will swoop in and submit an offer to the seller, so it’s important to act fast if you know you’ve found the one.

Not listening to your real estate agent.

Real estate agents are experts in helping people buying and selling homes, so it’s important to listen to their advice if you plan on making an offer on a home. If an agent tells you that the offer you want to submit is far too low to be taken seriously, don’t insist on submitting it anyways. This is a waste of time for everyone involved, and gives the seller the impression that you’re not serious about actually buying a home. If an agent suggests that you compromise on the closing date to make the offer more attractive to the buyer, consider doing so if you can. Agents deal with buyers and sellers on a daily basis, so they know best. If you’re serious about making an offer, listen to their advice.

Now that you know how to craft the perfect offer, are you ready to buy a new home in Lowry? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.

Many people are under the impression that if they have bad credit, there is no way they will be approved for a loan to buy a new home. Fortunately, that is not always the case. Here are a few of the ways you may be able to buy a new home when you don’t have perfect credit:

Pay more upfront.

Banks may be hesitant to trust you if you have bad credit, so it’s up to you to show the lender how serious you are about buying and paying for a new home. One way to do this is by offering to pay a larger down payment when you purchase the home. If you have a poor or fair credit score, paying more upfront will ensure you are seen as less of a risk to the lender. Plus, the more you pay upfront, the more equity you will own in the home, which is always a good thing.

Check your credit report.

You should always pull a credit report on yourself prior to meeting with a lender to see where you stand. If you have a surprisingly low score, it’s important to review the report to make sure there are no errors. Believe it or not, credit report errors are fairly common. In 2013, the Federal Trade Commission reported that one in four Americans found an error on their report that affected their score. If you do spot any errors, you will need to immediately contact the company that provided the incorrect information and ask them to fix the issue right away.

Show your stability.

Potential buyers who have low credit scores need to figure out how to make themselves look more attractive to lenders. For example, do you have a steady job that pays you a sizable income? Bring in your paystubs and show that you have earned a consistent income over the last year. If you are currently renting a home, ask your landlord to write a letter of recommendation that states you have never missed a payment or turned in a payment late. Even though you have a low credit score, the lender may be able to approve your application if you can show that you are an attractive candidate in other ways.

Search for a FHA loan.

It’s possible for a buyer with a credit score of 580 to get approved for a loan that is backed by the Federal Housing Administration (FHA). As long as you are able to put down a downpayment of at least 3.5%, you should qualify for one of these loans. It’s important to note that these loans typically come with higher fees, so be prepared to pay more in the long run with a FHA loan. Read 7 crucial facts about FHA loans.

Now that you know how to secure a mortgage with less than perfect credit, are you ready to buy a new home in Observatory Park in Denver? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.

Homeowners are ready to sell their homes typically contact a Goldsmith real estate agent who will take photos, write up a detailed description of the property, and post the listing on the Multiple Listing Service (MLS). But, not every home will be listed on the MLS. Some agents will sell homes as pocket listings instead of following the standard procedure. What is a pocket listing? How can it benefit the seller? Here’s what you need to know:

What is a pocket listing?

Pocket listings are homes that are up for sale but not listed publicly on the MLS. This means that other agents and potential buyers will not be able to view information on your home online. In addition, most pocket listings will not have “For Sale” signs in their yards either.

How does an agent sell a pocket listing?

You may be wondering how pocket listings are ever sold if the homes are never advertised to buyers and other agents. If an agent is selling a pocket listing, he will still take photos of the property and get to know the features of the home. Instead of sharing this information with the world, he will keep it in his pocket (hence the name) and only share it with other agents and buyers that he trusts.

What are the benefits of a pocket listing?

If a seller is a very private person, he may not want photos of the inside of his home plastered across the internet, which is one reason why many sellers choose to list their homes as pocket listings. Sellers may also want to limit the number of people who visit their home in person. If the home is listed publicly, it may draw some people who are only interested in looking and not buying. Because the public will not see a pocket listing, sellers find that the only people who see the home are those that are very interested in making a purchase.

Listing your home as a pocket listing can also help you test the market before you go public. For example, if you and your agent do not agree on a listing price for your home, you can test the higher price with a pocket listing and see if any buyers respond. If you test the market as a pocket listing, you won’t have to repeatedly lower your price once your listing is made public.

What are the drawbacks of a pocket listing?

Sellers who are in a hurry to sell their homes should not choose to list their homes as a pocket listing. It takes much longer to find buyers if your home is not listed publicly, so be prepared to wait if you want to list your home privately. Should you sell your house as a pocket listing?

Now that you know what a pocket listing is, are you ready to list your home on the Goldsmith real estate market? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.