first time home buyer: Who Decides Value? - 07/14/20 12:57 PM
Who Decides Value? The seller can put a price on the home but the value is ultimately, determined by the buyer. Individually, a buyer could pay over market value because they love the location, or the elevation of the home or the proximity to something that is important to them.  The shortage of available homes resulting in increased competition among buyers could drive the value higher.
Most experts agree initially pricing it properly will generally result in the highest sales price.  If a home starts out too high, it could actually sell for a lower price after it has been on the … (2 comments)

first time home buyer: Good Decision for a Second Opinion - 07/06/20 11:18 AM
  You've done your homework, contacted a mortgage company and believe you are pre-approved.  That part of the process is finished and you can concentrate of finding a home and moving...or can you?
Pre-qualified and pre-approved are two different things but some people, including some in the business, use the terms interchangeably.  Pre-qualified is an opinion of likelihood that a borrower will be approved based on preliminary information about their income and credit.  Whereas, in a pre-approval, the borrower's credit report is updated and pulled, income and assets verified and involves pre-underwriting.
Even when you have a highly qualified loan officer, the real decision … (0 comments)

first time home buyer: Rethinking Home - 05/27/20 09:26 AM
  The last two months of the new normal stay at home has led many homeowners to rethink the way they live in their home.  It has now become an office for working at home; a school for children; a gym to stay in shape; and a place for recreation.
The repurposing has people evaluating whether their home still meets their needs or if some changes are necessary.  In some cases, adult children have moved back home, and, in others, there are parents who have moved in for the first time.
Staying at home and sheltering in place is necessary but how much … (2 comments)

first time home buyer: Home Emergency Preparedness - 11/14/19 06:58 AM
Home Emergency Preparedness11/14/2019 Unexpected and possibly dangerous situations in the home require immediate response and knowing where critical items are in the home can minimize the damage.  It can also provide peace of mind knowing what to do when and if the time comes. 
Gas ... The gas supply to home can be cut off by going to the meter and closing the valve which will probably require a wrench.Each individual appliance that uses gas will have its own cutoff valve. Electrical breaker box ...The electrical panel usually has two columns of circuit breakers that are numbered by the manufacturer.The numbers won't … (4 comments)

first time home buyer: Show Them You Are Serious - 06/17/19 06:35 PM
Show Them You're Serious6/19/2019 June and July are the busiest home sale months of the year. When inventory is in short supply and you may be competing with other offers, it is important to show the seller you're serious. Make your offer look as good as possible because you may not get the chance to make or accept a counter-offer.
Put yourself in the seller's shoes.  Your home has just gone on the market.  There is lots of activity and suddenly, there is more than one offer to purchase.  The seller's first consideration may be to accept the highest offer but there are many other … (2 comments)

first time home buyer: When It's Important...Find the Facts - 02/13/19 07:27 AM
When It's Important...Find the Facts2/13/2019 Most parents don't put a lot of credence in the statements "Everyone is doing it" and "No one does that anymore." They'll dig a little deeper and get the facts of the situation.  Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home.
One of the most common myths is that it takes 20% down payment to get into a home.  Certainly, an 80% mortgage might have the most favorable interest rate. It won't require mortgage insurance and qualifying requirements might be a little less but there are … (3 comments)

first time home buyer: Easier to Play the Game - 09/30/17 04:16 PM
It’s much easier to play a game when you know the rules so you can avoid mistakes that may keep you from winning. Homeownership isn’t a game but there are some rules that will protect your investment and increase your enjoyment.
Most people want a home of their own to raise their family, share with their friends and to feel safe and secure. In most cases, it is also their largest asset. These suggestions can help protect your investment and make homeownership more enjoyable.
Don’t overpay for your home Maintain your home to protect its value Minimize your assessed value to lower … (0 comments)

first time home buyer: Home Energy Aware - 08/12/17 05:59 PM
After the mortgage payment, the largest homeowner expense is for utilities and the major component is energy.  Contributing factors include air leaks, insulation, heating and cooling equipment, water heaters and lighting.
Computers, monitors, TVs, cable and satellite boxes, DVRs and power adapters are spinning your electric meter even when they’re not being used. Even though they only represent a small percentage of a home’s total energy consumption, about 3/4 of the electricity is used when the products are turned off.
Unplugging devices can actually make a difference in the size of your electric bill. Plugging several of these offenders into a power strip … (0 comments)

first time home buyer: Not Available for Every Buyer - 03/09/17 05:01 PM
Lenders regularly publish mortgage rates but they may not be available for all buyers.
Imagine that the mortgage payment based on an advertised rate influenced a buyer to make an offer on a home. After negotiating a binding contract, this buyer makes a loan application and finds out that for any number of possible reasons, that rate isn’t available.
Even if the person does financially qualify for a loan at a higher interest rate, it will not be the payment that the buyer expected when the contract was negotiated.
Lenders evaluate several factors such as the borrower’s credit score, debt-to-income and loan-to-value ratios. These … (2 comments)

first time home buyer: Mortgage Loans from Relatives - 02/15/17 11:08 AM
Mortgage Loans from Relatives
Occasionally, when dealing with close relatives who might also become heirs, signing a note and handling the paperwork properly may seem like a needless effort but it could mean the difference in being able to take a legitimate interest deduction.
Home mortgage interest is deductible only if the loan is a secured debt which involves the buyer signing an instrument like a mortgage or deed of trust that makes the ownership of the home security for the debt. That instrument must then be recorded or otherwise perfected according to state or local law and the home, in case of default, … (0 comments)

first time home buyer: When the Rate Goes Up Calculator - 09/30/16 09:19 AM
It’s not “if” the rate goes up but “when” the rate goes up; it could make a big difference for some buyers. Freddie Mac predicts that mortgage rates will be at 4.5% a year from now.
If buyers can afford a home with higher interest rates, it means higher payments. Higher payments might mean they won’t have the money to spend on other things like furniture or improvements to the home or an unrelated purchase like a new car.
When the rate moves 0.50% on a $250,000 mortgage, the payment goes up by $70.66 a month. If it moves 1.00%, the payment goes up … (2 comments)

first time home buyer: Fifteen Will Get You Three - 08/01/14 07:40 PM
  Fifteen Will Get You Three   Freddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term.  However, for those who can afford a higher payment, there are three additional reasons to choose a 15 year term: save interest, build equity and retire the debt sooner.
First-time buyers have a higher tendency to use a minimum down payment and are very concerned with affordable payments.  It is understandable that the majority of these buyers select 30 year, fixed-rate mortgages.
Consider a $200,000 mortgage at 30 year and 15 year terms … (2 comments)

first time home buyer: First Time Home Buyer? Down Payment Source - 06/09/14 04:04 AM
  Another Source for a Down Payment    Most taxpayers know that they will pay a 10% penalty if they withdraw funds from their IRA before they turn 59.5 years old.  There is an exception for first-time home buyers that allows a penalty-free withdrawal of up to $10,000 per person if they haven’t owned a home in the previous two years.
This would allow a married couple who each have an IRA to withdraw a lifetime maximum of $10,000 each, penalty-free for a home purchase.
In many cases, the money would be used for a down payment or closing costs.   However, … (0 comments)

first time home buyer: 5705 Johnson St. Arvada, Co $179,900 3 Beds, 2 baths, Finished bsmt - 10/09/13 07:19 AM
This home is ideal for the first time home buyer. This home will allow the new home owner to just move right and get comfortable.   
Benefits include 3 bedrooms, full+3/4 bath, partially finished basement, 2 car garage with 2 separate driveways for RV parking.


first time home buyer: Buying a Home? Don’t Let Fear Get in Your Way - 09/02/13 05:21 AM
Buying a Home? Don’t Let Fear Get in Your Way 
Our founder, Steve Harney, occasionally asks to do a personal post on what he sees as important to our industry. Today is one of those days. Enjoy! – The KCM Crew
Last week, I was talking to a young couple I know that was about to close on their first home. They were riding the wild rollercoaster of current mortgage rate swings and were not happy about the mortgage process overall. Yet, when the conversation shifted to finally living in a home that they own, their disposition changed dramatically.
A … (1 comments)

first time home buyer: It Can't Hurt to Wait, Can It? - 07/29/13 03:33 AM
It Can't Hurt to Wait, Can It? 
It’s been said that more money has been lost due to indecision than was ever lost because of a bad decision. Regardless of whether you agree with the statement, delaying the decision to buy in today’s market is going to cost the buyer more. 
Home prices have gone up considerably in almost every market in the country in the past year and while inventories are beginning to grow, prices are expected to continue to rise. Mortgage rates jumped 1% from the beginning of May to now. They could easily reach 5% by the end of the year … (0 comments)

first time home buyer: 856 Iola St. Aurora, Co 80010 $184,900 - 04/18/13 02:14 PM
This home is immaculate and ready to move right in!! With 4 bedrooms and 3 bathrooms this is a great family home  All systems, electrical, plumbing, roof and sewer scoped are updated and to city code.
Custom kitchen with slab granite, refinished hardwood floors, central air conditioning and sprinkler system.
The finished basement has a built-in for a 55" flat screen and a bar for entertaining.  Works great for a man cave.
All appliances are brand new including washer and dryer.


first time home buyer: Pre-approval Gives Everyone Confidence - 06/02/12 01:01 PM
                                      Pre-approval Gives Everyone ConfidenceThe benefits of buyer's pre-approval are without question; it is good for the buyers, the sellers and the agents. It saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include:
Amount the buyer can borrow decreases as interest rates rise Looking at "Right" homes - price, size, amenities, location Find the best loan - rate, term, type Uncover credit issues early - time to cure possible problems Bargaining power - price, terms, & timing Close quicker - verifications have been made … (0 comments)

first time home buyer: 16187 E. Bethany Pl, Aurora, Co $168,500 4 Bedrooms, 3 Bathrooms, 2 Car Garage - 04/03/12 04:04 AM
This home is perfect for the first time home buyer and/or someone with a large family.
The basement is all finished with a bedroom and 3/4 bathroom, family room and a wood burning fireplace.
The kitchen is huge with plenty of room for a large dining table plus a seperate dining room.
The home sits on a cul-de-sac with a lot size of 10,716 and the home has over 2000 square feet.
All appliances are staying and there is RV parking.


first time home buyer: Are You Afraid Of Buying Your First Aurora Home? - 12/10/11 04:56 AM
Are You Afraid Of Buying Your First Aurora Home? Let's face it. Buying your first Aurora home can be a bit unnerving, to say the least. This is a commitment that needs to be made for the long-term and a lot of thought needs to go into it. Not to mention money!Here are a few things that you can do to settle yourself down and come to terms with buying your first Aurora home.
1. Don't panic Don't let your emotions get in the way of a logical decision. Breathe and relax. Think of the benefits of owning your own home … (0 comments)

Patty Clark, Helping Families Move with Care (Morningside Homes, LLC 720-231-5200) Rainmaker large

Patty Clark

Helping Families Move with Care

Denver, CO

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