mls listings: REALTORS Thoughts on the Recovery - 07/21/20 03:58 PM
The National Association of REALTORS® just released the Market Recovery Survey of a random sampling to close to 100,000 members conducted June 24-26, 2020.  The following statements are the members' opinion on various aspects of the recovery to the Covid-19 pandemic as it relates to real estate.
In response to the safety of buyers, sellers and agents, REALTORS® are expecting within the next year to have increased demand for the following technologies used to market properties:
67% - Zoom or other video technology to communicate with clients 66% - virtual tours 63% - live virtual tours conducted by agent using video 60% - virtual … (3 comments)

mls listings: 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)

mls listings: It Starts Before the Statement is Sent - 05/04/20 11:28 AM
  The deadline for challenging your property tax assessment this year may be later than normal due to the stay at home orders but when you are notified, you'll want to be ready to decide whether you can save some money on property taxes this year.
There are two elements that determine the amount of property taxes you'll pay for the year: the assessment of value and the property tax rate.  Both determinations occur long before the property tax statement is sent.
Property owners are notified in writing what their assessed value is for the year.  It is estimated that most owners don't … (0 comments)

mls listings: Mortgage Closing Scams - 04/07/20 11:06 AM
  The American bank robber, Willie Sutton, was asked why he robbed banks and his answer was "because that is where the money is."  During his 40-year career, he stole about $2 million but Internet scammers are stealing many times that amount in phishing schemes preying on unsuspecting home buyers.
These crooks know where the money is because buyers have the down payment and closing costs and are expecting to transfer it to the close the sale of their home.  The FBI, in their 2018 Internet Crime Report, stated victims lost over $149 million and the CFPB estimates the losses at over $1 … (0 comments)

mls listings: Shopping for a Mortgage - 03/13/20 11:32 AM
Shopping for a Mortgage A lower rate will not only result in a lower payment, it will amortize the loan quicker.  A $250,000 mortgage at 4.5% for 30 years will have a $1,266.71 principal and interest payment.  At 4%, the same loan will have $1,193.54 payment saving $73.18 a month and the unpaid balance would be $1,776 lower at the end of five years.
Mortgage lenders tend to price their mortgages based on the credit score of the borrower.  The higher the credit score, the lower the mortgage rate.  There is an inverse relationship that the lower the credit score, the higher risk and therefore, … (0 comments)

mls listings: Get Ready to Garage Sale - 03/03/20 08:24 PM
3/4/2020 A well-planned garage or yard sale can give you extra space in your home, get rid of unused items and make some money but it needs some of the same considerations that any business needs to be successful. 
Start early to research and plan Promotion is key Display items attractively Price items right Organize checkout Determine the date of your sale, remembering that there are exceptions, but Saturdays are generally the best day.  Experienced garage-salers believe that a well-planned one-day event will do as well as a multi-day event.  Serious purchasers will look for the "new" sale and most people don't come … (0 comments)

mls listings: What Kind of Properties are These? - 02/25/20 05:06 PM
  It is the way the property is used that determines the type of property it is, not what it looks like.  Based on the intent of the owner, the property could be a principal residence, income property, investment property or dealer property.
A principal residence is a home that a person lives in.  There can be only one declared principal residence.  It is afforded certain benefits like deducting the interest and property taxes on a taxpayers' itemized deductions, up to limits.  Up to $250,000 of gain for a single taxpayer and up to $500,000 for a married couple filing jointly … (0 comments)

mls listings: Why Put More Money Down? - 02/18/20 07:34 PM
  The least amount in a down payment is an attractive option when people are thinking of buying a home.  A common reason is to have cash available for furnishing the new home and  possible unexpected expenses.
Some people don't have any options because they only have enough for a minimum down payment and the closing costs.  For those fortunate buyers who do have extra money available, let's look at why you'd want to do such a thing.
Most loans in excess of 80% loan to value require mortgage insurance to protect the lenders for the upper portion of the loan … (0 comments)

mls listings: Instant Buyers Save Time But Cost Money - 02/17/20 05:43 PM
  There are a multitude of companies across the Internet, referred to as iBuyers, who are suggesting that sellers can save the hassle of putting their home on the market, showings, repairs, open houses and other things by accepting their instant offer to purchase.
The adage goes "if it sounds too good to be true, it probably is."  The price to be paid for the convenience of not having to deal with the hassle is a lower net sales price than you'd probably realize if you took a more conventional approach to selling your home.
These companies are not charities and … (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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