There are probably dozens of real estate agents in your area, so if you’re trying to buy or sell a home, how do you know which one you should work with? To find the ideal Observatory Park real estate agent, follow these tips:

Look locally.

You will need a real estate agent who is familiar with the area. Someone who calls himself a Denver real estate agent may not know the Observatory Park area, even though it’s within Denver. Look online for an agent that specializes in Observatory Park instead of one who has never worked with a client in Observatory Park before.

Find out their schedule.

Some real estate agents only work part-time or work in real estate on the side. If you want an agent who is fully committed to helping you buy or sell a home, make sure you choose an agent who works in real estate full-time. You should also ask each agent you talk to about his current workload. How many buyers is he representing? How many homes is he currently trying to sell? The answers to these questions will help you determine how much time the agent will have to devote to you. Learn how to interview a real estate agent.

Talk about strategy.

Find out what sets each real estate agent apart from the rest. If you’re selling your home, ask each agent how he will market the home to the community. Will he host open houses? How will he market the home online? Ask if you can see examples of how he’s marketed homes in the past. For example, if he has created informational brochures about a home to hand out at open houses, ask for a sample so you can look at the quality of his work. If you’re buying a home, talk to the agent about how often he will look for new homes, how many times he will take you to see listings, and whether he has relationships with other agents in the neighborhood.

Ask for references.

Once you have narrowed your list down to a few finalists, ask each of the agents to provide you with references. Contact the references to discuss their experience working with the agent. Was it difficult to get in touch with him? How are his negotiation skills? Did he conduct himself in a professional manner? No one can answer these questions better than people who have worked with the agent in the past, so get as much information as possible.

Read reviews.

Of course, you can always head online if you want to see what people are saying about a certain agent but don’t want to ask for references. Simply type in the real estate agent’s name and look on websites such as Yelp, Facebook, and LinkedIn to see what clients have to say.

If you’re looking for a real estate agent, look no further than Elevation Realty. 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 you are eager to move into a new home, you don’t want to waste your time on sellers who are still unsure of whether they even want to sell their home or not. Instead, it’s important that you look for motivated sellers who are ready and willing to make a deal. How can you find a motivated seller in Observatory Park? Look for these signs:

Clues in the listing.

The listing will provide you with clues to help you determine if the seller is motivated to get rid of his home. As you read through the listing, look for anything that signals he is anxious to do a deal. For example, if the listing says the seller is accepting cash offers only, this means he doesn’t want to take a chance that a buyer’s financing will fall through because he is eager to sell. You should also look for listings that say the owner is willing to close quickly, or is selling the house as is. Both of these clues indicate that the seller would like to make a deal as soon as possible.

Motivated sellers may also include popular terms and phrases that are known to draw in buyers. Look for these home listing phrases that will help you sell faster.

The home is being listed by an estate.

Ask your agent to find out who is selling the home. If an estate has listed the home, this means that it is being sold by people who have inherited the home from someone who has passed away. Typically, this means that the sellers will be more motivated to sell because they are attempting to liquidate the assets of the estate. But, you may want to find out more information before making this assumption. For example, if a lot of family members are involved in the estate, this could lead to disagreements over how much the house is worth and what they should sell it for.

The seller has a legitimate reason to move.

To help you determine if a seller is motivated or not, try to find out why he is moving out of the home. If he has simply grown out of the house and is moving into a different home within the same area, he may not be motivated to close the deal. However, if he is moving to a different city or state because of a new job, he may be very eager to start the next chapter of his life. Sellers who are listing their homes as part of a divorce settlement are usually fairly motivated to sell as well. This is because they want the divorce to be over as quickly as possible, which won’t happen until the house has been sold.

Are you ready to find a motivated seller who will sell you the house of your dreams? 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 buyers on the University Hills real estate market secure a loan from a lender in order to purchase their dream home. But, if this is your first time buying a home, you may be confused as to how you can find the perfect lender for you. Take your time when interviewing different lenders and don’t forget to ask these important questions before making a decision:

How much do I have to pay now?

This is one of the first questions you should ask your lender because the answer can vary greatly. Some lenders will ask that you put as much as 20% down on a home, while other lenders can offer loans that only require a 3.5% down payment. If you’re on a tight budget, you need to know the answer to this question upfront, so don’t be afraid to ask it.

Are there any one-time fees?

Some buyers make the mistake of thinking that the only payment they have to worry about is their monthly payment once they move into the home, but that’s not the case. Lenders often have one-time fees that are due at closing, and you should know about them before signing any paperwork. These one-time fees are often referred to as “points” and many lenders will offer you the opportunity to pay some of these fees in exchange for lowering your interest rate. For example, if you pay one fee, or “point,” the lender will lower your interest rate by 1%. Discuss these terms in detail with the lender before you make a decision. Learn more about mortgage points.

Will I have to buy mortgage insurance?

If you don’t have enough money to make a down payment of at least 20% of the home’s price, you may be required to purchase mortgage insurance. The price of this insurance will vary, but it tends to be fairly expensive, so it’s another expense that you will need to factor into the cost of your home.

Can I lock down the interest rate?

Interest rates rise and fall over time, so you might want to ask your lender if it’s possible to lock down your current interest rate. Most lenders are more than willing to do this for you, but it’s usually only for a certain period of time. Make sure you understand how long you have locked the interest rate and if there are any fees associated with doing so.

Should I work on my credit before getting a loan?

If you don’t have great credit, you may want to have an honest conversation with the lender to discuss whether you should attempt to improve your credit before taking out a loan. The lender may be able to offer you a better deal if you increase your score, so this is a conversation worth having.
 
Now that you’re ready to find a loan that fits your needs, it’s time to contact an agent who can help you find your dream home! 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. 

Reading a Lowry real estate listing can often make you feel as if you are reading a different language. Unless you’re a real estate agent, you may not understand what many of the terms used in these listings mean. This makes it difficult for you to get involved in the home buying process, but it doesn’t have to be this way. Learn the meaning behind these common terms to help you understand what those listings are really saying:

Investor Special

A listing that is being marketed as an investor special is a fixer upper. You should not expect to see a home that is in good condition if you look at an investor special. One positive is that a lot of repairs will be needed to fix up the property, which could be used as a bargaining tool when you negotiate a price.

Active With Contract

Homes will be listed as “active” once they are put on the market for sale. If a buyer makes an offer on a home and the seller accepts, the home will then be listed as “active with contract” until the deal has closed. This means that the buyer is still accepting backup offers on the home in case the offer he has accepted falls through for one reason or another. If you fall in love with a home that is listed as active with contract, it’s important to understand that you may not get it because other buyers are involved.

Motivated Seller

Some sellers are more motivated to sell than others. For example, a seller who is moving out of town for a new job will probably be motivated to get rid of the house so he can begin to transition to his new role. If a seller is motivated, it means he is more willing to negotiate on the price, so this is a term that every buyer should look out for when scanning listings.

Sold As Is

If a home is labeled as “sold as is,” it means the seller is well aware that repairs are needed, but is not willing to do any of them prior to moving out. This doesn’t necessarily mean that the home is a fixer upper, but you should be ready to budget for repairs and get a home inspection prior to closing if you are interested in an as is home. Learn about the importance of a home inspection.

Priced to Sell

Agents who write that a home is priced to sell are making it clear that there is not much flexibility in the price. If you see this term used in a listing, you should expect to pay somewhere around the listing price in order to snag the home.

Now that you know how to read a real estate listing, are you ready to find the home of your dreams? 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.

Not only do Observatory Park homeowners get the joy of knowing that they live in their own home, but they also get a few breaks every tax season. If you buy a home this year, here are some of the tax breaks you may qualify for when you file your taxes in 2018:

Property Tax Deductions

Unlike renters, homeowners have to pay an annual property tax on their home. But luckily, this is a deductible expense, so be sure to provide your accountant with the bill and proof that you paid it.

Mortgage Deductions

Do you plan on getting a mortgage to buy a new home? If so, you will have additional deductions when tax season comes around next year. First, you can deduct all of the mortgage interest payments you’ve made on your new home. You can deduct any mortgage interest payments made towards your first mortgage, second mortgage, or home equity line of credit (on loans less than $100,000).

If you are required to pay private mortgage insurance to your lender, these payments can also be deducted as long as your income is not too high. The income limit changes slightly on an annual basis, so check with your accountant to see if you qualify for this deduction next year.

If you pay “points” to the bank when you purchase your new home so you can get a better mortgage rate, you can also deduct this expense. Points are typically about 1% of the total loan, so this can be a sizeable deduction if you bought a pricey home.

Property Damage Losses

Was your new home damaged in a flood or by a fallen tree? If you were not reimbursed for the damage by an insurance company, you may be able to deduct the cost of repairs. But, this does not apply to minor repairs. You only qualify for this deduction if the cost of repairs exceeded 10% of your adjustable gross income.

Energy Efficient Upgrades

Did you make any energy efficient upgrades to your home once you moved in? You may qualify for additional tax deductions. Right now, there are several tax credits available that reimburse homeowners for certain energy efficient upgrades. However, all of them with the exception of the solar tax credit expired at the end of 2016. This means you would be able to take advantage of them if you bought a home last year, but not if you buy a home this year.

The solar tax credit, which has been extended through 2021, allows homeowners to deduct 30% of the cost of installing solar energy systems in their homes. This tax credit will drop down to 26% of the cost in 2020, and 22% in 2021, so take advantage of it while it’s still at 30%. Learn more about energy efficient federal tax credits here.

Ready to buy a home so you can take advantage of these tax breaks next year? 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.