Should You Invest in Colorado Real Estate?

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Real estate has been lauded as one of the best long-term investments out there. However, is now a good time to invest in real estate here in Colorado?

It depends on what your goals are with your investment. There is no hiding the fact that prices have risen in the last few years, but properties are still very affordable with extremely low interest rates.

One thing to consider before you invest is whether you want short term gains or long term gains. You must have a plan in place before you start investing, otherwise you could put yourself in a very bad spot financially. 

Some other considerations you need to make might be things like: 
  • Are you using your own capital?
  • Are you doing the work yourself, or are you paying someone else to strategize?
  • How are you finding properties? 

These questions should help you narrow down what sort of investment you should make, but always remember that you should start with the end in mind.

If you need assistance investing in real estate, or if you would like help finding properties to invest in, please don't hesitate to contact me!

Why Are Home Inspections a Good Idea?

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Today we are talking about home inspections. A lot of first time buyers will ask us if an inspection is necessary for them. Our answer is always yes! You would much rather make a $300 mistake than a $300,000 mistake.

Before the inspection process, the seller provides the buyers with a disclosure, but it is on the buyer to understand the condition of the property to the best of their ability.

During a home inspection, an inspector will look at every single detail of a home. From its structural condition and plumbing, to appliances, mechanical systems, and more. In Colorado, the buyer has a period of time to object to anything concerning the condition of their home. You are protected in Colorado when you write an offer on a home, and won't be penalized if a seller doesn't want to fix something you consider "a deal breaker."

The last thing about home inspections is you want to do them as quickly as possible so as to not delay the closing process. If you're purchasing a home with a loan, don't do it until after the inspection is completed and the terms are agreed upon. If you have ordered an appraisal, that is a $400 charge that you can't get back if you don't close on the home. 

So, get a home inspection and get it done quickly so you can move on to closing on your dream home. If you have any questions for us, give us a call or send us an email. We look forward to hearing from you!

What Colorado Communities Are the Best?

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Hey everyone, welcome back. Today we are going to take a look at some of our favorite areas in Colorado Springs. As you will soon see, there is a little something for everyone here, no matter what your lifestyle is like.

If you're looking for more established and popular neighborhoods, you might want to think about the Village 7, Vista Grande, Fairfax, and Briargate areas. These areas are going to retain their value and reputation as good places to live as time goes on. They have mature trees, walking paths, parks, and good schools.

Speaking of schools, if they are a primary concern for you and your family, we suggest living in one of the nationally recognized school districts in the area. District 20 in Northern Colorado Springs, District 12 in Cheyenne Mountain, and District 38 in Monument are all highly sought after. 

There is a lot of building going on right now in Colorado Springs, and if you want to get a brand new home, the Cordera and Wolf Ranch areas are a hot spot for great community living.

If you want a more laid-back lifestyle, Meridian Ranch, just 5 miles east of The Springs, is a great option and is nestled on an 8,000-yard golf course. Another great area is the Kings' Deer community, in the District 38 area. It's got great views and smaller lots, making it ideal for retirees or new families. The homes in these areas are only going to increase in value as time goes on.

I hope you got some insight into some of the great areas of Colorado Springs today. If you have any questions for us, feel free to give us a call or send us an email. We would love to be of assistance in any way possible!

What's Happening with Colorado Springs Real Estate?

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Today I wanted to provide you with a brief real estate market update for our local market. We're in the middle of the busy season right now, so it's going to be short and sweet.

  • Home prices have increased by 9.8% since this time last year
  • Inventory in Colorado Springs has decreased by 30% since this time last year, and a lot of homes under $250K are getting multiple offers
  • Sellers have been receiving 99.6% of their asking price, which is great if you're looking to sell your home
  • Interest rates are extremely low right now, with most rates sitting in the high 3's or low 4's
  • There are also many zero down loans available, including the El Paso County Turnkey Program
  • It's often more affordable to buy a home than it is to pay rent monthly
With all this being said, it is a very good time to be buying or selling a home right now. Please contact us if you need assistance with your real estate transaction in El Paso County.

We're always willing to help!

How Should You Handle Multiple Offers?

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The real estate market is heating up here in Colorado Springs. With this being said, we're seeing a lot of multiple offer situations. In today's video I'll be telling you how to handle them as a buyer and also as a seller. 

Conventional wisdom would tell you that as a buyer, the best way to secure a home in a multiple offer would be to offer the highest price. While this usually helps, there are other ways to win homes.

Sometimes the trick is to have the best terms and conditions with your offer. You can close in less time or you can agree to pay more of the closing costs. There are many ways to have your offer stand out with terms and conditions. 

Another helpful thing we can do is write a personal letter to the seller explaining how important this home is to you and why you are so desperate to purchase it. 

Overall, if you're a buyer trying to win a home, you will need to satisfy the needs of the seller. That's really all they want. This is why communication is so important.

As a seller, a multiple offer situation is much less stressful. However, you have to be careful about which offer you choose. One thing you will really want to look for is a very short closing period, because anything can happen in that time frame. 

You shouldn't feel badly if you accept an offer with a little less cash if the terms are also good. I also don't recommend waiting for lots of offers. Your home will sit longer and this will gradually decrease your sale price. 

If you need any help buying or selling a home in Colorado Springs, please don't hesitate to contact me!