Homes For Sale in the University Hills Denver Neighborhood

Buying a home. For many, it’s the equivalent of the American dream, but it can be out of reach for some people, particularly those who have credit scores that are less than ideal. But the good news is that buying University Hills real estate is still possible. Although the better your credit, the better your loan terms (such as a more favorable interest rate), there are still steps you can take to become a homeowner—and with today’s appreciation, it might be well worth it.
Find Out What Your Credit Score Is
There are a number of ways to find out what your credit score is. Referred to as a FICO score, this number reflects the amount of debt you have, the amount of credit that is available to you, whether you have made payments on time, and so forth. Knowing your score will help you figure out whether or not you will qualify for the best loan terms or not.
You should also check your credit report to find out whether or not there are errors on it that are lowering your credit score. Get those corrected as soon as possible.
Here are some tips from the experts at My FICO on bumping up that credit score if there is room for improvement: How to Repair My Credit and Improve My FICO® Scores.
Mortgages Specifically Designed for Those With Poor Credit
The Federal Housing Administration (FHA) offers loans you can get with a lower down payment and a lower FICO score. FHA loans are one of the most popular types of loans for first-time homebuyers as well. But there are some other costs involved.
Since you can get an FHA loan without the standard 20 percent down payment, you will have to carry mortgage insurance on the loan to protect the lender in case you default. These are usually paid in the form of monthly premiums that are tacked on to your mortgage, tax, and insurance payment each month.
You’ll have to carry this insurance until you have equity in the home, at which time you can refinance your mortgage to drop this extra payment.
In addition to FHA loans, there are other government programs available for first-time homebuyers and those with less-than-perfect credit.
Determine How Much House You Can Afford
Although some of this is simply a matter of budget—and what you can reasonably afford to pay each month for housing—there are other limits you should know about. The maximum loan values for FHA loans vary across the country, so you’ll need to speak with a lender.
If you’re thinking about purchasing University Hills real estate, Elevation Realty can help. If you are concerned that your credit score will hinder the process, set up a meeting with us and we can go over the numbers. Homeownership does not have to be out of reach. Contact the Elevation Realty team when you are ready to purchase your dream home or give us a call at 303-579-3566 to begin your search.   

Given the popularity of television shows on home improvement stations, buying a fixer-upper is something more and more people are willing to do. While it may look easy on TV, the truth is that buying a fixer-upper can be wrought with challenges—unless you know how to do about it properly. Since you can get a fixer-upper below neighborhood market value, this is a very attractive option for home buyers looking at University Hills real estate.
The advantages are clear:

• In this competitive real estate market, you will probably face less competition since not everyone is ready, willing, or able to deal with a fixer-upper.
• Your potential for resale profit is high.
• You will learn—a lot!—about home repairs and about how to properly maintain a home.
• You can have fun putting your own touches into a home. (Are you a fan of HGTV’s show “Fixer-Upper”? Here are some tips for bringing Joanna’s style into your home.
• You will derive much personal satisfaction once the project is completed, and you can enjoy the fruits of your labor.

Let’s take a look at how you can make sure you do it the right way.

What to Look for in a Fixer Upper Home

Many homebuyers—first-time buyers, in particular—cannot look at a home and see past its imperfections to its potential. You need to be able to look at the bones of the house to see what is correctable.
Other items of importance:

• The location. You want to buy an ugly house in a good neighborhood whenever possible. Take a look at how well the surrounding homes are maintained. Are they primarily owner-occupied? This will have an impact on resale.
• The configuration. A two-bedroom home with one bath is not going to be as attractive to buyers in the future as a three-bedroom home with two baths—or a four-bedroom home, and so on.
• The layout. If the layout doesn’t flow, you might end up taking down or moving walls, which may or may not be practical given your budget or level of expertise. Homes with bedrooms on two different floors probably won’t appeal to buyers with children. Homes with a choppy floor plan won’t appeal to as many buyers in this open-concept era.
• The condition. If the house needs extensive work, such as a new roof or a new HVAC system, this can add a significant amount to your rehab budget. Cosmetic needs, such as painting and flooring, are more affordable—and easier for the do-it-yourselfer.

Estimating the Costs of Repairs

Be realistic about your budget when approaching the purchase of a fixer-upper. There are easy fixes—and there are fixes that will cost you more because you will probably have to hire professionals.
Easy fixes include items such as:

• Patching walls and painting
• Putting in new flooring
• Installing new fixtures
• Replacing toilets
• Putting in new baseboards

Fixes that will run you quite a bit more money include:

• Taking down or moving walls
• Reroofing
• Replacing the HVAC system
• Remodeling kitchens and bathrooms
• Replacing all plumbing or electrical systems

If you’re ready to move to a great neighborhood, such as University Hills, Elevation Realty can help. The University Hills area is great for singles and families—especially if you are interested in purchasing a fixer-upper. Whether you want to make your purchase your home or if you plan to flip the property, we can help you find the ideal University Hills real estate. Contact the Elevation Realty team when you are ready to find the right fixer-upper property or give us a call at 303-579-3566 to begin your search.   

If you are a first-time homebuyer, you don’t need anyone to tell you that this is a big decision. Buying a home is probably the biggest financial investment you’ll ever make. You are likely very excited about buying University Hills real estate, and you probably have many questions about. Here are some of the most common questions first-time homebuyers usually have.

Why Buy Instead of Rent?

There is no doubt that renting is “easier,” but you don’t get the perks of homeownership as a renter. Some of these include:

• A portion of your monthly mortgage payment goes toward reducing how much you owe on the home, so your money is actually working for you instead of a landlord.
• Your mortgage interest and property taxes are tax deductible, so this will help reduce how much you owe to the IRS each year.
• You can build equity as the value of your house goes up over the years.

Is Now a Good Time to Purchase a Home?

Now is a great time to buy a home because interest rates are still low. Of course, you need to assess your own financial situation to determine whether or not it is a good time for you to buy. You also need to have enough money saved for a down payment, and you’ll need to have a decent credit score.
How Much Will I Need for a Down Payment?
This will depend on a number of different factors, but it usually is about 1 to 3 percent of the price you are offering for the home. In general, you have to have enough money up front to cover the earnest money that accompanies your offer to purchase, the down payment, and the closing costs of the transaction.

How Much House Can I Afford?

Here’s a calculator you can use to help determine how much home you can afford. This is a good way to figure out if now is a good time for you to buy. If the average price of homes in the area are more than you can afford, you’ll need to continue saving up for a down payment.

What Is the Closing All About?

The home closing is the meeting you’ll have—usually at a bank or title company—where all the fees, costs, and paperwork is finalized. Be sure to ask questions if there is something you don’t understand. There will be a stack of documents for you and the home seller to sign, and the mortgage and deed will be recorded with the county. You’ll get a copy of all the documents as well as the keys to the home.
If you are a first-time homebuyer who is on the fence about buying real estate in University Hills, the professionals at Elevation Realty can help. We can tell you more about the University Hills real estate market and whether now is a good time for you to buy based on your current financial situation as well as on current interest rates. Contact the Elevation Realty team when you are ready to buy and want to find your dream home or give us a call at 303-579-3566 to begin your search.   

When you decide to sell your home, you want it sold as quickly as possible. If your home is in the University Hills real estate market, you have the added advantage of being located in a desirable area. But you want to make the most money possible with the sale, so it is to your advantage to take a bit of extra time and a small amount of money to spruce up your home to get top dollar.
Here are some ways you can do that.
Here are some additional tricks of the trade from the folks at HGTV: 10 Best-Kept Secrets for Selling Your Home.

Planning

Pick a day in the future that you will list your home—and work backward from that date so you get everything done. You are anxious to list, but be reasonable to give yourself enough time to get everything done. to list in the future and work backward from it.

Get Outside Opinions

Have a real estate agent go through your home and make a list of suggestions on work that needs to be done. You are so familiar with your home, you probably don’t even notice the chipped trim around the doorway or other imperfections that will be spotted by potential buyers.

Declutter

Get rid of the majority of your personal items. This is no longer your home, but it is a business transaction for which you want to get top dollar. Without your personal belongings all over the home, potential buyers can envision their own things in the house.

Learn About Home Staging

Staging a home properly is an important element in selling for top dollar. Showcase each of the rooms to its best advantage. For instance, an oversized California king bed in a small bedroom will make it look even smaller. A queen-sized bed in the same space, however, can make all the difference.

Paint

Nothing adds more value to your home than a coat or two of fresh paint on the walls. It makes everything feel fresh and clean. Stick to neutral colors to appeal to as many buyers as possible.

Spruce Up the Outdoors

Nothing makes a better first impression than a lovely front yard. Curb appeal can sometimes either make or break a sale. If the outside of your home isn’t appealing, you might not even get potential buyers through the door. Spend some time and money to add some color and greenery, clean up debris, and so on. People do judge a book by its cover, so keep that in mind.

Getting your home ready for a quick sale might seem overwhelming because there is so much to do. This is just one of the many reasons it’s so crucial to have an experienced real estate agent by your side. Don’t leave anything to chance; make sure you are working with someone who has the experience you need to have success selling your home in University Hills. Let Elevation Realty be your guide in managing those tasks. Contact us today.

New year, new Denver hot spots to try out! It’s time to review the some favorite places to eat from 2015 to try now that it’s 2016! The Westword has awarded some worthy neighborhood favorites in this years “Best of Food & Drink” 2015. Check out our list below to learn more about some of the most delicious food in Denver:

Best Casual Urban Eatery: Chop Shop
Located on east Colfax near City Park, Chop Shop has an upscale dining atmosphere while still being classified as a fast causal restaurant. The interior is adorned with tables made of reclaimed wood and fences. The menu has a broad range of different foods inspired from global cuisine of entrees, salads, and sandwiches. The owner, Clint Wangsnes has years of high end cooking experience and has put together a winning menu with items such as pork tenderloin with yuzu-cherry chutney and a delicious French onion soup that is slow cooked for 72 hours. Drop by this great eatery for a fast casual experience with food that exceeds expectations.

Best Ice Cream: High Point Creamery
With flavors such as basil with blackberry swirl, dark-chocolate orange with marshmallows, and even Earl Grey-flavored, High Point Creamery has something to offer for every age and taste. The prices are a little high, but well worth it. Located in the Hilltop Neighborhood, it’s a prime spot for families to get a tasty treat.

Best French Fries: North County
Located in the beautiful Lowry neighborhood, North County is known for its fish tacos, Baja centered menu, slow cooked meats, and an impressive tequila list. However, one surprising thing on the menu stands out, the carne asada fries. These fries are cooked just right with some serious tasty toppings such as four-cheese queso, steak, guacamole, creama, and cotija. You can even request the fries to be wrapped up in a tortilla for an off-menu California burrito.

Best Hot Dog: The Uber Sausage
Don’t know where to get a quality hotdog that wasn’t frozen before? Luckily, the Westword did all the work to find the best hotdog in Denver. Two blocks from City Park in the Park Hill Neighborhood, Uber Sausage showcases some more complex flavors than your average hotdog. One of the most popular hotdogs is called the Tijuana dog, which is a preservative-free bison hot dog topped with a mix of crème, mango pico de gallo, and queso fresco.

Denver is a hot spot for new restaurants and the neighborhoods are constantly changing. Elevation Realty wants to help you find a neighborhood that’s right for you. Choosing a home is an important and consequential process that requires you to consider and evaluate many different factors, including affordable and walkable local eateries. If you are purchasing a new home in Denver, Elevation Realty can help provide information regarding the features, properties, and real estate market trends in the Denver metro area.  Give us a call today!