Blog Archives

Why You Need Proper Representation from Real Estate Professionals

Our belief – one of our CORE beliefs – is that consumers are best served through proper representation from a licensed professional.

For most, buying or selling a home is an infrequent transaction with enormous financial and emotional considerations.

It’s stressful, emotionally-charged and high-stakes. Having a real estate professional central to the process of pricing, listing, selling and purchasing a home is important; real estate is not entertainment, and it’s not a game – bad data, inaccurate “value estimates,” and inflating inventory levels on websites creates confusion about what’s really happening in a market.

We understand that serious consumers want the real facts about a market. And we understand that these consumers also want to find a professional who can clearly articulate what these facts mean to their personal situation.

Connecting with a local real estate professional, a professional that’s immersed in local trends. Well versed in neighborhood nuances. Someone who can take the science of real data and apply it to the art of local real estate.

For sellers, this professional is someone who can navigate changing markets deftly and help price a home appropriately. Someone that helps ensure a smooth ride all the way from contract acceptance to settlement.

For buyers, this professional is a sounding board during their search, and their advocate during contract negotiations all the way to the first day in a new home.

Ultimately, there is a lot more than search to consider throughout the course of a transaction.

Pricing. Negotiations. Offers. Counter-Offers. Contracts the size of novellas. Addenda. Inspections. Appraisals. Financing. Contingencies. Walkthroughs. Punch Lists. The list goes on and on and on. Navigating all of this takes skill and determination, and we are the licensed real estate professionals. Just the folks that can help.

After all, it’s what we do for a living, 24-7, 365.

This article comes to us from the REALTOR.com Lockbox blog. You can view the original article at Lockbox.REALTOR.com

Local Opportunities, Local Problems

From a local market perspective, the 2012 ActiveRain real estate survey shows markets where real estate agents are significantly more optimistic and others in which real estate agents are concerned about 2012.  Based on our survey data, the ActiveRain real estate network has created a real estate confidence index and ranked the top real estate markets.
Below is a list of the TOP 10 and BOTTOM 10 real estate markets ranked by real estate agent confidence.

Description: US Market Confidence ActiveRain

Rental Nation?

With low real estate values, low interest rates and a recovering economy, American real estate agents believe that 2012 is a great time to purchase both single family and multi-family rental properties.  Real estate agents feel that single family homes and luxury homes represent great investment opportunities.   What did real estate agents think are the worst opportunities in the 2012 real estate market?  Due to the glut of inventory in the real estate market due to short-sales and foreclosures, new construction condominiums, new construction single family homes, and land for construction were rated as the worst investment opportunities.

Description: US Real Estate Opportunities

A Bottom of the American Real Estate Market

American real estate agents expect the US real estate market to be largely flat from 2011 to 2012.  Real estate agents predict that real estate values will be flat from 2011 to 2012, signaling a bottom to the real estate market or the end of the real estate bubble.  Given historically low interest rates as well as a bottoming of real estate values, real estate agents expect that the number of real estate transactions and new construction starts will increase slightly in 2012.   Additionally, real estate agents believe local economies are on the mend and we will see improvements in the economy.

Description: US Real Estate Confidence

Real Estate Recovery or Not?

2012 Predictions By the Pro’s Infographic

Data, data everywhere, but what should you believe?  Are we on, in the middle, or at the tail of a deflating real estate bubble? There is A LOT of conflicting data emerging about the 2012 real estate market and 2012 real estate transactions.

So what should you believe?  Nearly all data on real estate transactions and real estate values is historical;  it does not forecast the future and may not reflect the situation in your local market.   Real estate is inherently local, so if the national real estate market is in decline or on the mend, what does that say about your local market?

The largest real estate social network ActiveRain Corp surveyed 1,835 real estate agents and real estate brokers in the US and Canada to understand if the real estate market and economy are poised for recovery in 2012, both nationwide and in local markets.

Elegant New Not-Public-Yet Listing

I want all of you to know about a fantastic new listing  that I have secured, and is not publicly available yet… so be the first to know!

Price will be in the $900,000’s- it’s a fantastic ranch style home in the prestigious  Boulder neighborhood of Spanish Hills, on over an acre cul-de-sac lot…

It is truly a rare offering…

Call me direct for any questions- 303-257-4725

Garry Callis 

Would you like a 20% Tax Credit?

Colorado’s Tax Credit Makes Buying or Refinancing More Affordable!

The Colorado Housing and Finance Authority (CHFA) is offering a tax credit for up to 20 percent of the mortgage interest homeowners pay on their loan each year*. This can equal big savings for Colorado home buyers.

Here’s how it works:

  • Buyers can claim up to 20 percent of paid mortgage interest each year as a tax credit on federal IRS tax returns
  • Buyers must meet income and purchase price limits
  • FICO score must be 580 or higher
  • Purchase or refinances** of primary residences only
  • First-time home buyers must not have owned a home as their primary residence for the past three years

Only a few of CHFA participating lenders and can work with buyers
and offer this program. We work closely with one of the largest independent residential retail mortgage lenders in the United States.

If you are interested in learning more about how the CHFA tax credit works, just ask me.

Before You Look at Your First House

Before You Look at Your First House

Experienced home buyers know that one of the first-steps in beginning a successful search for a new house is taking a hard, objective look at finances. Determining how much money you can dedicate to the purchase of your new house affects almost every aspect of buying a new home – including how we write the offer, which mortgage programsyou will qualify for, shopping for the best mortgage loan and which homes are truly in your price range.

Here are the questions that each home buyer should ask:

  • How much cash is available for a down payment?The amount you have available for a down payment will affect what types of loans for which you can qualify. Learn more.
  • Am I ready to write a check for the earnest money? Earnest money is a cash deposit made to a home seller to secure an offer to buy the property. This amount can be forfeited if the buyer decides to withdraw his offer.
  • How much additional cash will be available to pay for closing costs? There are certain standard costs associated with closing the sale of a house. Some fees are split between the buyer and the seller, as spelled out in the sales contract. Learn more.
  • What is the maximum monthly mortgage payment that I can afford? Most lenders will use the 28/36 rule to determine the maximum mortgage payment you can afford.

The 28/36 Rule
No more than 28% of your gross income can be applied to your mortgage, real estate taxes and insurance. And no more than 36% of your gross income can be applied to your mortgage expenses plus your regular debt expenses (car payments, credit cards, other loans, etc.).

Any Questions? I am always available to talk…

Garry Callis 

303-257-4725

Fluctuating home prices: What causes this?

Fluctuating home prices: What causes this?

Real estate prices are constantly moving up and down. Almost always, home values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.

When your property appreciates you have more equity to borrow against, and you’ll create a greater profit when you sell. Property values in the area shift for many different reasons, so how do you know what you’re buying right now won’t depreciate the day after you close? The most important thing is that you select a real estate agent in your area who knows the factors that influence local prices.

Let Legacy Real Estate Group help you with your first home purchase in Longmont Location in a community – Most people want homes in the areas with the easiest access to features, such as our work and schools. So when it comes to retaining their value, these regions often appreciate better than others.

Recent sales – Your real estate agent should provide you with figures on the recent real estate sales in the districts that you’re asking about. You’ll want to know average time on market, selling versus listing price and more.

History of appreciation – In the last 5 to 10 years, have home prices increased or decreased? Does location or affordability affect how desirable the neighborhood is believed to be?

Local economy – Is there a good blend of job types in an area, or does it count on just one industry? Have businesses moved into or away from an area? Are local businesses hiring? Each of these items plays a part.

Legacy Realtors

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Legacy Real Estate Group: Colorado‘s real estate experts

Homes are our lifetime securities; ranking highly among our clients’ most important financial investments. Our homes so frequently evoke personal memories of cherished family experiences that the impending purchase or sale of a home becomes an especially strenuous endeavor to our clients. It causes us to approach our task with special sensitivity, concern and professional competence.

Thank you for this opportunity. This virtual office is a measure of the quality of service which you can expect from us.

We understand the convenience of technology without losing the personal touch. Explore www.LegacyRealtor.net and you’ll love the resources available here such as mortgage calculators, our listings, tips for staging your home and much more – plus the e-mail alerts that we send, but these will never replace the time we personally spend with you, serving as your guide through this exciting process.

Garry Callis, Broker Owner — Cell# 303-257-4725 — garry@legacyrealtor.net

— Lisa Henry, Broker — Cell# 303-931-1882 — lisa@legacyrealtor.net