September 20, 2007 · 1 Comment
TV lineups seem to be fairly bursting with Real Estate Shows, from flipping to restoring, renovating to landscaping, curb appeal to interior design - there is something to be found for anyone. Yet, the same questions still come up - will I see a return on my investment? For many markets, you’ll be best served by using a Realtor - but to just give you some ideas, as to where your Dollar would be most likely to return to you in case of a sale, check out the following link: A big payoff from the tiniest room
Categories: 1st Time Home Buyer · Colorado Springs · Colorado Springs Real Estate · Relocation
Tagged: Investments, Real Estate, Renovations
If you’ve recently moved to Colorado, or simply would like to know a little bit more about the local “quirks and oddities” throughout it’s History – check out “Strange but true, Colorado – Weird Tales of the Wild West” by John Hafnor and Dale Crawford. It’ll give you the “real” background of this State’s history – the one most Locals are not even aware off.
One short story, from the 1890s, for example, gives insight in the naming of Phantom Canyon. “The crew of a night train bound for Cripple Creek reported that the locomotive’s lights briefly illuminated a man walking beside the tracks in prison garb. His prison number was clearly visible. Upon reaching the next station, the engineer reported the sighting to nearby Colorado State Penitentiary in Canon City, only to be informed that the number in question belonged to a prisoner who had been executed some days before. Then as now, the site of the incident is known as Phantom Canyon. The narrow gauge railroad is long gone, but you may still drive Phantom Canyon Road in your car.” (Quoted from “Strange but True, Colorado-Weird Tales of the Wild West)
For additional, unpublished tales (according to the Author) – go to www.strangecolorado.com !
Have fun, discovering the REAL Colorado!
Categories: Area Attractions · Colorado Springs · Relocation
Tagged: Colorado
With all the recent articles about the Market turning down, Sub Prime Mortgages dissapearing, Mortgage Companies closing their doors and a bevy of homes on the market, knowing the facts is more important than ever. Feel free to check out the following links to ‘catch up’ on your Real Estate Reading.
Realty Times
Inman News
CNN Money
Real Estate News
Categories: 1st Time Home Buyer · Colorado Springs · Colorado Springs Real Estate · Military · Relocation · Trends
Tagged: Real Estate
You’ve decided to sell with the help of a real estate agent and are ready to “put your home on the market”. You’ve reviewed the agent’s market analysis and decided on a list price. List Price? Wait a minute - not list price, what you had in mind was the sales price! Well, truth is - list and sales price CAN be the same, but they don’t have to be. The list price is the price, determined by your agent and yourself, at which the property will be offered to the market.
The sales price is the price the market is willing to pay for your property. That can be higher, if it is a very active market, or lower, if it is not. It is not determined by any other factor - only by the market. It doesn’t matter what your neighbor’s house sold for, what you would like to receive or even what your agent told you - the market (all the potential Buyer’s) will determine the sales price.
It is then up to you to decide if that is a price you can and will sell at, or if it is unacceptable. There might be some negotiating room - however, usually buyers will not pay more for a property than market value. (Keep in mind - it’s not only the Buyer’s who have to “buy” your sales price - it’s also the appraiser who will have to agree on that sales price, in order for the Buyer’s to get the mortgage to purchase the home.)
Does that mean you should offer your home at a higher price and wait for an offer? No! You have to be compatible with similar properties in the area, to have a chance of receiving an offer. If your property is priced too high, you will price yourself right out of the market. For example: If 10 homes are available in your area, and they are all priced around $250,000, with similar square footage and features, yet your home is priced at $280,000, why would a buyer want to pay more? Put yourself into the Buyer’s “shoes”.
The best way of determining pricing is by talking to a professional and maybe touring some of the available homes in your area for comparisons. As always, if you have any questions, feel free to contact me. Thanks.
Categories: 1st Time Home Buyer · Colorado Springs Real Estate · Relocation
Tagged: Colorado Springs, Real Estate