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Home
Relevant Colorado Springs Real Estate Market Information For Buyers & Sellers From Terry's Real Estate Team Dedicated To FulFilling Your Home Ownership Dreams!
Thursday, January 8, 2015
1255 Bayberry Drive, Colorado Springs, CO 80916 For Sale - 3BD 3BA
Wednesday, December 24, 2014
5 Signs You're Ready To Buy Your First Colorado Springs Home
Here are some common signs that you may be ready to buy your first Colorado Springs home:
1.) You're Career is Moving Forward.
Money is usually the largest motivating factor when purchasing your first home. If you are fresh out of college and just starting your career, purchasing a home may not be the best idea when your financial future is so uncertain. Moreover, if you have started your career and are confident that you are going to continue growing in the career path you have chosen, then purchasing a home makes sense for many reasons. The pride that comes with owning a home can boost your confidence as a young professional and help drive you to succeed. This was my experience many years ago.
Owning real estate is a sign of maturity. Just look around your work environment. Can you tell a difference between those who own and those who lease property? Would your boss treat you different if he/she knew that you owned real estate and were invested in your community? Owning a home can help you feel more established and be a serious boost to your career. www.HomesForSaleColoradoRealEstate.com
2.) Your City is Truly Your Home
I love Colorado Springs. It's my home. I have lived in Washington, Idaho, Georgia, and Texas within my lifetime, and no place has ever felt as much like home to me as Colorado Springs. This is my hometown and I have no desire to live anywhere else. If you are uncertain whether you will be living in the same city you are in right now over the next year or two, purchasing a property may be a bad idea. On the other hand, if you love your city and know that you will be there for a long time, purchasing a home is a great idea.
As a homeowner, you will most likely feel more connected to the overall well-being of the area in which you live. When a new park is put into your neighborhood, it means much more when you actually owned property within that area. It is common for tenants to move around every year, or so. Homeowners typically move every five years on average. For this reason homeowners are more involved in the local political issues since they have more at stake by owning property in the community. If you enjoy the city in which you live, owning a home is a great way to commit to your local area. Homeowners are the heart of the city! www.FindPerfectHomesNow.info
3.) Love is in the Air
I work with many different first-time homebuyers every month. One of the most common reasons for purchasing a home that I see is for a new couple to solidify a relationship by purchasing a home to build a life together. Homeownership feels much more stable and permenant than renting property. For this reason, couple feel a strong urge to buy a home together as a way of commiting to each other. Deciding to purchase a home with the new love of your life is a big commitment. A home is one of the most solid foundations to build lasting memories as a new couple. For this reason, purchasing a home is usually the first step that couples make once they are serious about moving forward in their relationship.
If you are engaged to be married, or have been with your current partner for a long while, it may be time to think about purchasing your first house together. When I was younger I thought of real estate as just a monetary transaction. Now, I think of a home as a place to invest in memories and close life expereinces with my family. The most important people in my life are the ones living under my roof. My home is my sacuary from the world and the only place I can truly relax. My wife and I have lived in many homes throughout the years, and when I think back on them I do not even remember what we paid for them. The first thing that comes to mind are holiday get-togethers, my kids birthday parties, and many other special memories that happened while we lived in the home. This is what makes owning a home such a privilege as a young couple. Nothing compares to building wonderful memories in your own home.
4.) You've Been Renting Long Enough
It's rare that I meet a first-time buyer in their 40's (or older), but it does happen. For some people, life just gets too busy to think about purchasing a home and so they get stuck in the routine of renting. This becomes an obvious problem when you look back over the last 5 years (or more) and calculate the amount of rent that you have spent during that time. Take those numbers and put them into a home mortgage calculator and you will soon realize that you could be sitting on tens of thousands of dollars of equity if you would have bought a home years ago, rather than putting it off.
If you have been renting for more than two years and you are fairly confident that you will be within the same city you're in right now in the future, you're probably ready to buy your first home. The longer you wait, the more money you are losing every month with your rental payments. It's great for landlords, but bad for everyone else! www.RentersOwnYourColoradoHome.info
5.) You've Got The Home Improvement Bug
My wife and I love to work on home improvement projects. We have purchased multiple distressed properties and remodeled them as a side business because it is something that we enjoy doing. The hardest part about renting for me would be not being able to alter a property or remodel in any way while I'm living there. One of the greatest benefits of owning a home is that you can do anything you want to it (within obvious parameters) to make it your own place. Some landlords will let you paint and redecorate a property before you move in, but all of your hard work and expenses are for their benefit, since they own the property.
I like to take at least one day a month just to work around my house. Whether I am landscaping, painting, or doing a full remodel of our kitchen, I am only able to do so because I own the property that I live in. If you are like me and you enjoy working on home improvement projects, then you should get excited at the opportunity of owning your first house. The reality of working on home improvement projects only exists when you own your own place!
Final Thoughts
So, what's the verdict? Have any of the five points above hit home with you at all? If so, contact Terry Naber, REMAX Properties, Inc, and she will guide you in each step of the home buying process. If you have any questions about purchasing a home in the Colorado Springs area, please feel free to reach out to her. She's here to help whenever you need her. :) Call Terry at 719-590-4796.
Terry Naber, Realtor
Your Good Neighbor In Real Estate Since 1990!
REMAX Properties, Inc
Colorado Springs, CO. 80920
719-590-4796
Monday, December 8, 2014
Friday, December 5, 2014
Colorado Springs Military Real Estate Relocation VA Home Loans and Home Search Guide
Colorado Springs Military
The presence of five military installations in Colorado Springs has a great impact on the character and economy of the Pikes Peak Region. A report released in 2001 revealed that the five bases had 41,672 employees (29,218 active-duty, reserves and cadets and another 12,454 civilian employees). According to local economist Dave Bamberger, the military had the most employees of any sector in town. The next highest category is tourism, with 14,689 jobs or 12 percent of the total. "Put it this way: one out of every three people employed here is employed as a military person or as a person directly supported by defense dollars," Bamberger said. Here are brief descriptions of the five military installations in Colorado Springs; visit their web sites by clicking on the links to the left.
Fort Carson
The Mountain Outpost
Fort Carson sits on 137,000 acres just south of Colorado Springs. The fort was established in 1942 three weeks after Pearl Harbor. During World War II, Fort Carson housed prisoners of war and has since been the site for the production of several movies. Over the years, the post has grown to a military population of over 17,000 soldiers and is also served by approximately 3,400 civilian employees. Currently, it is the home of the 3rd Brigade Combat Team, 4th Infantry Division, 3rd Armored Calvary Regiment, and the 10th Special Forces Group (Airborne). The mission of Ft. Carson, as in the past, has been training troops to be combat ready.
Introducing a top rated university to military training, the academy was established to be the training ground for future Air Force officers. Out of 13,000 applicants each year, only 1,500 freshmen are accepted. The beautiful grounds are situated on 18,000 acres of wooded, picturesque land north of the city. The Air Force Academy employs over 6,000 personnel (approximately 2,000 of which are civilians). The Core Values of the United States Air Force Academy are Integrity First, Service Before Self and Excellence in All We Do. These values set the common standard for conduct across the Air Force. These values inspire trust (which provides the unbreakable bond that unifies the force). They consider their experience a knowledge born of confidence, experience and integrity: confidence that comes with surpassing one's personal best; experience in seeing personal leadership help others rise above their fears; and the integrity that lies deep in the heart of every Air Force officer. Athletics are an important part of Academy culture. The U.S. Air Force Academy wasn't named "most athletic school in the country" by Sports Illustrated without reason. By playing together, the cadets learn to work together as a team; they learn to trust and to be leaders.
Peterson Air Force Base was originally a fighter training post and civilian airport known as "Pete Field" (prior to and during WWII). Today, it is the home of the 21st Space Wing, the Air Force s only organization responsible for worldwide missile warning and space control. Team 21 serves as host unit of the Peterson Complex for four major military headquarters (North American Aerospace Defense Command, U.S. Space Command, Air Force Space Command and Army Space Command) as well as the 302nd Airlift Wing (Reserve) and many tenant units from other major commands.
NORAD
North American Aerospace Defense Command
The NORAD complex is located beneath Cheyenne Mountain just southwest of Colorado Springs. "Deter, Detect, Defend." is the motto of the men and women who serve in the North American Aerospace Defense Command. Since 1958, Canadians and Americans have been partners in protecting the airspace of Alaska, Canada and the contiguous 48 United States. Staffed by all branches of the military, the mission of NORAD has evolved over the years. Aerospace warning involves the monitoring of man-made objects in space, and the detection, validation, and warning of attack against North America whether by aircraft, missiles, or space vehicles, utilizing mutual support arrangements with other commands. Aerospace control includes providing surveillance and control of Canadian and United States airspace.
Schriever Air Force Base, formerly Falcon Air Force Base, sits on 640 acres of former ranch land east of Colorado Springs. Schriever is commonly grouped with the other bases in the "Peterson Complex". This consists of Schriever Air Force Base, Peterson Air Force Base and Cheyenne Mountain Air Station. The Base is home to the 50th Space Wing and houses the Consolidated Space Operations Center (CSOC) and provides command and control for Department of Defense military satellites and management of the Air Force Satellite Control Network.
Terry Naber
Your Good Neighbor in Real Estate Since 1990!
REMAX Properties, INC
Colorado Springs, CO 80920
719-590-4796
The Mountain Outpost
North American Aerospace Defense Command
Wednesday, December 3, 2014
Monday, December 1, 2014
Thursday, November 13, 2014
Colorado Springs Real Estate Setting a List Price For Your Home 80132, 80133, 80908, 80921,80920, 80919, 80924, 80923, 80922, 80906
How to Set a List Price for Your Home
Setting the list price for your home involves evaluating various market conditions and financial factors. During this phase of the home selling process, your REALTOR® will help you set your list price based on:
- pricing considerations
- comparable sales
- market conditions
- offering incentives
- estimated net proceeds
- How Much Is Your Home Worth?
Pricing Considerations – Find a Balance Between Too High and Too Low
When setting a list price for your home, you should be aware of a buyer’s frame of mind. Consider the following pricing factors:
If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than other homes on the street. You may have told your REALTOR® to "Bring me any offer. Frankly, I’d take less." But compared to other houses for sale, your home simply looks too expensive to be considered.
If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but you may make less on the sale than if you had set a higher price and waited for a buyer who was willing to pay it.
TIP: Never say "asking" price, which implies you don't expect to get it.
Price Against Comparable Sales in Your Neighborhood
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market.
Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood. Your REALTOR® can furnish data on sales figures for those comparable sales and analyze them to help you come up with a suggested listing price. The decision about how much to ask, though, is always yours.
Competitive Market Analysis (CMA): The list of comparable sales a REALTOR® brings to you, along with data about other houses in your neighborhood that are presently on the market, is used for a "Comparative Market Analysis" (CMA). To help in estimating a possible sales price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.
A CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. Also, an appraisal is done for a fee while the CMA is provided by your REALTOR® and may include properties currently listed for sale and those currently pending sale. For the average home sale, a CMA probably gives enough information to help you set a proper price.
Formal Written Appraisal: A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price or if there is any other circumstance that makes it difficult to put a value on your home.
TIP: If you do order a market value appraisal, make it clear you don't need an elaborate, or full narrative report, i.e., the kind that's complete with photos of the house and neighborhood. Floor plans and a site map is sufficient in most cases.
Market Conditions – Is it a Buyer’s Market or a Seller’s Market?
A CMA often includes a Days on the Market (DOM) value for each comparable house sold. When real estate is booming and prices are rising, houses may sell in a few days. Conversely, when the market slows down, average DOM can run into many months.
Your REALTOR® can tell you whether your area is currently in a buyer's market or a seller's market. In a seller's market, you can price a bit beyond what you really expect, just to see what the reaction will be. In a buyer's market, if you really need to sell promptly, offer an attractive bargain price.
If You Price High, Set a Schedule for Lowering the Price
Some sellers list at the rock-bottom price they'd really take, because they hate bargaining. Others add on thousands to the estimated market value "just to see what happens." If you want to try that, and if you have the luxury of enough time to feel out the market, sit down with your REALTOR® and work out an advance schedule for lowering the price if need be.
If there haven't been many prospects viewing your home after three weeks, you may need to lower your list price. If that doesn't bring any prospective buyers, you may need to lower your list price again. Plan on doing that regularly until you find a level that attracts buyers. Make a written schedule in advance, before emotion takes over and you're tempted to dig your heels in.
Offering Incentives to Hasten a Sale
Sometimes cash incentives are as effective as lowering the price, especially in the lower price range where buyers may be "cash poor." You may offer to pay some or all of a buyer's closing costs and discount points required by the buyer's lending institution.
If you haven't had much traffic through your house and you’re in a hurry to sell, you may want to add the offer of a bonus to the selling broker, in addition to their commission. An example of the wording for such an offer may be "to the broker who brings a successful offer before Christmas."
Estimating Net Proceeds
Once you’ve been given an estimate of market value by your REALTOR®, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful when you start looking for another home to buy.
To estimate your net proceeds, from the estimated sales amount, subtract the applicable costs in the three sections outlined below: seller’s costs, buyer’s/seller’s costs and closing costs.
Seller’s Costs: Subtract the following costs as applicable.
- payoff figure on your present loan(s)
- broker's commission
- prepayment penalty on your mortgage
- attorney's fees
- unpaid property taxes
Buyer’s/Seller’s Costs: Additionally, your REALTOR® can tell you whether local customs or rules dictate whether the buyer or seller pays for the items listed below. Subtract the following costs, as applicable.
- title insurance premium
- transfer taxes
- survey fees
- inspections and repairs for termites, etc.
- recording fees
- Homeowner Association transfer fees and document preparation
- home protection plan
- natural hazard disclosure report
Closing Costs: As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you, no matter what local practice dictates. Your REALTOR® will assist you in estimating what your final closing costs will be.
Terry Naber
Your Good Neighbor In Real Estate Since 1990
REMAX Properties, Inc.
Colorado Springs, CO 80920
719-590-4796
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