The Benefits of a Pre-Listing Inspection

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Pre-listing inspections can help sellers better understand the condition of their home before putting it on the market. They can also strengthen a home’s appeal to potential buyers and help to streamline the offer process, which is especially important in competitive markets. However, pre-listing inspections can also open sellers up to added liability. Talk to your Windermere agent to understand if conducting a pre-listing inspection is right for your home.

 

What is a Home Inspection?

Conducted by a licensed home inspector, a home inspection is a detailed review of the condition of a home and property. Inspectors examine everything from a home’s electrical work and sewage to its heating and cooling systems, searching for any evidence of damage or structural issues that may affect its value. By having your home inspected before you sell, you’ll have the chance to discover whether it needs any repairs or upgrades.

 

Pre-Listing Inspections

Pre-listing inspections not only help identify repairs, but they can also make the selling process more efficient. A pre-listing inspection discloses a home’s condition to buyers up front and gives them confidence that the seller is being transparent about any possible issues. This can save significant time for both buyers and sellers, especially in competitive markets where there are multiple offers on the table.

Something for sellers to keep in mind is that if a home in a competitive market does not provide a pre-inspection report, buyers may be hesitant to make an offer knowing the time it takes to perform an inspection and the fact that they are likely competing against several other buyers who are willing to waive this step.

 

The Benefits of a Pre-Listing Inspection

Home inspections give a good baseline of your home’s condition. The information gathered during this process is exactly the kind of in-depth knowledge that buyers want to know when considering placing an offer on a home.

Since buyers will know right away what repairs are needed, they can factor them into their initial offer, as opposed to discovering them during the inspection contingency and getting entangled in negotiations. Being forthcoming about your home also reduces the chances of an offer falling through and the buyer walking away.

An added benefit of a pre-listing inspection is that it helps your real estate agent more accurately price the home and enables them to market it with the knowledge that everything is being presented in the most transparent way possible.

 

If you have any questions about home inspections or any of the steps in the selling process, we’re happy to connect you with a Windermere agent here: Connect with an agent

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What to Consider Before Buying an Equestrian Property

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Buying a horse property is a very different experience from a conventional home purchase. The first and most important step is to work with an experienced equestrian specialist, but there are some additional items you should also consider before buying.

Location, Location, Location

When looking at equestrian properties, one of the most important things to consider is location. You want to make sure the property is near resources you will need like feed and tack stores, local vets, and more. You should also consider everyday needs, such as groceries, gas, shopping, and community amenities.

Knowing Your Needs

Having a clear vision of your specific needs is a very important step when buying an equestrian property. For example, a casual rider doesn’t require the same capability and organization as a professional equestrian, and similarly, a professional will often need a horse property with strict specifications.

Property Features and Facilities

Something to consider is the soil type on the land you’re looking at. There are 12 different soil types and some of the best for horses are sandy, loamy, organic soils. Not only is this the best option for your animals, but these characteristics will also impact the quality of grasses for pasture growth. Whether you decide to pasture or hay feed, ensure there is adequate hay storage, especially for winter months when, depending on what part of the country you live in, grass may not be as ample.

Other important features to consider are:

  • Does it have indoor stalls?
  • Does it have multiple fenced pastures for rotating your livestock? This will ensure the ultimate health of your pasture and the grass that is produced.
  • Are riding trails nearby or will you have to trailer to get to trails?
  • Is there an indoor or outdoor arena? These are important for training, breaking, and even veterinary care, at times.
  • Does it have a secure tack room that rodents cannot penetrate?

Accessibility

Accessibility is another important factor to consider. This includes the convenience of your land but also important resources like water. Each horse will drink approximately 5-10 gallons of water per day; therefore, readily available potable water is vital. The accessibility of your horse property is crucial for bringing in vets, food supplies, and getting around quickly in emergencies. The navigation around your property should be easy to swiftly get from the home to the barn or other facilities. Suitable access to the barn with wide turnaround driveways is essential, which may include grading an additional access road.

Flexibility is Key!

The more specific your property criteria, the more challenging it may be to check everything off your wish list. While it’s important to know what you want from the property, it’s equally important to be open minded and realize that the property may require some extra work to meet all your needs.

The post What to Consider Before Buying an Equestrian Property appeared first on Windermere Colorado REALTORS.

What to Consider Before Buying an Equestrian Property

/in , , , , , , , , , , , , , , /by

Buying a horse property is a very different experience from a conventional home purchase. The first and most important step is to work with an experienced equestrian specialist, but there are some additional items you should also consider before buying.

Location, Location, Location

When looking at equestrian properties, one of the most important things to consider is location. You want to make sure the property is near resources you will need like feed and tack stores, local vets, and more. You should also consider everyday needs, such as groceries, gas, shopping, and community amenities.

Knowing Your Needs

Having a clear vision of your specific needs is a very important step when buying an equestrian property. For example, a casual rider doesn’t require the same capability and organization as a professional equestrian, and similarly, a professional will often need a horse property with strict specifications.

Property Features and Facilities

Something to consider is the soil type on the land you’re looking at. There are 12 different soil types and some of the best for horses are sandy, loamy, organic soils. Not only is this the best option for your animals, but these characteristics will also impact the quality of grasses for pasture growth. Whether you decide to pasture or hay feed, ensure there is adequate hay storage, especially for winter months when, depending on what part of the country you live in, grass may not be as ample.

Other important features to consider are:

  • Does it have indoor stalls?
  • Does it have multiple fenced pastures for rotating your livestock? This will ensure the ultimate health of your pasture and the grass that is produced.
  • Are riding trails nearby or will you have to trailer to get to trails?
  • Is there an indoor or outdoor arena? These are important for training, breaking, and even veterinary care, at times.
  • Does it have a secure tack room that rodents cannot penetrate?

Accessibility

Accessibility is another important factor to consider. This includes the convenience of your land but also important resources like water. Each horse will drink approximately 5-10 gallons of water per day; therefore, readily available potable water is vital. The accessibility of your horse property is crucial for bringing in vets, food supplies, and getting around quickly in emergencies. The navigation around your property should be easy to swiftly get from the home to the barn or other facilities. Suitable access to the barn with wide turnaround driveways is essential, which may include grading an additional access road.

Flexibility is Key!

The more specific your property criteria, the more challenging it may be to check everything off your wish list. While it’s important to know what you want from the property, it’s equally important to be open minded and realize that the property may require some extra work to meet all your needs.

The post What to Consider Before Buying an Equestrian Property appeared first on Windermere Colorado REALTORS.

Relocating for Remote Work

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As the ubiquity of working from home continues, many homeowners are making the decision to move. Whether the motivation for relocating is to lower the cost of living, to be closer to family, or simply a fresh start, there are various factors to keep in mind when relocating for remote work.

Before You Relocate

Before you make the jump to a new life in a new place, making time for some strategic planning will help ensure your relocation goes as smoothly as possible. A logical first step is to consider the financial impact of your move. Depending on your company’s policy, there may be adjustments to your pay when you relocate. If this is the case, factor in your pay change as you form your relocation budget. Research the cost of living in your new hometown to understand how a compensation adjustment may affect your home search and your lifestyle once you move.

If you are moving out of state, relocating could affect your benefits and your taxes as well. There’s a chance that your employer’s health insurance plan does not offer coverage in the state you’re moving to. Talk to your employer to discuss your options. Before moving out-of-state, find out whether the two states have a reciprocal tax agreement, especially if you’re moving between states that have differing income tax regulations.

Your New Home for Remote Work

Working remote has given homeowners the freedom to choose their desired location, unbound by a work commute, especially if their company has indicated that there are no clear signs of returning to in-person work anytime soon. Knowing your desired work environment will help to tailor your home search. If you’re looking for peace and quiet while you work, explore listings in rural areas. If the hubbub of city life is your idea of a comforting backdrop, direct your attention to metropolitan areas.

For the remote worker, it’s more important than ever that your home accommodates your working needs. As many homeowners have experienced throughout the pandemic, you spend a great deal of time in your home office, so finding the home with the best workspace for you should be a priority. If you desire a private area where you can focus, a home with an open floor plan may not be the best choice. Instead, you may want to look for homes with a separate bonus room or extra bedroom.

Once you’ve moved into your new home, it’s time to put together your home office. Whether your previous home office was a professionally curated environment or a makeshift workspace in the corner of a room, a new home means a fresh start for your remote work. Like many homeowners, by now you’ve likely got a solid grasp on what your ideal home office looks like. Keep those elements alive when you relocate and enjoy productive workdays in your new home.

The post Relocating for Remote Work appeared first on Windermere Colorado REALTORS.

Relocating for Remote Work

/in , , , , , , , , , , , , , , , , /by

As the ubiquity of working from home continues, many homeowners are making the decision to move. Whether the motivation for relocating is to lower the cost of living, to be closer to family, or simply a fresh start, there are various factors to keep in mind when relocating for remote work.

Before You Relocate

Before you make the jump to a new life in a new place, making time for some strategic planning will help ensure your relocation goes as smoothly as possible. A logical first step is to consider the financial impact of your move. Depending on your company’s policy, there may be adjustments to your pay when you relocate. If this is the case, factor in your pay change as you form your relocation budget. Research the cost of living in your new hometown to understand how a compensation adjustment may affect your home search and your lifestyle once you move.

If you are moving out of state, relocating could affect your benefits and your taxes as well. There’s a chance that your employer’s health insurance plan does not offer coverage in the state you’re moving to. Talk to your employer to discuss your options. Before moving out-of-state, find out whether the two states have a reciprocal tax agreement, especially if you’re moving between states that have differing income tax regulations.

Your New Home for Remote Work

Working remote has given homeowners the freedom to choose their desired location, unbound by a work commute, especially if their company has indicated that there are no clear signs of returning to in-person work anytime soon. Knowing your desired work environment will help to tailor your home search. If you’re looking for peace and quiet while you work, explore listings in rural areas. If the hubbub of city life is your idea of a comforting backdrop, direct your attention to metropolitan areas.

For the remote worker, it’s more important than ever that your home accommodates your working needs. As many homeowners have experienced throughout the pandemic, you spend a great deal of time in your home office, so finding the home with the best workspace for you should be a priority. If you desire a private area where you can focus, a home with an open floor plan may not be the best choice. Instead, you may want to look for homes with a separate bonus room or extra bedroom.

Once you’ve moved into your new home, it’s time to put together your home office. Whether your previous home office was a professionally curated environment or a makeshift workspace in the corner of a room, a new home means a fresh start for your remote work. Like many homeowners, by now you’ve likely got a solid grasp on what your ideal home office looks like. Keep those elements alive when you relocate and enjoy productive workdays in your new home.

The post Relocating for Remote Work appeared first on Windermere Colorado REALTORS.

The Importance of Pre-Approval

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To set yourself up for a smooth and successful home purchase, getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process.

The Pre-Approval Process 

There is an important distinction to made between two important steps of your mortgage application process: pre-qualification and pre-approval. They are similar in that they both help to inform your financial standing, but there are key differences between the two.

Pre-qualification

Pre-qualification is the first step in your mortgage application process. It will help you to understand the approximate loan amount you can expect to qualify for. You’ll begin by sharing your financial information—debt, income, assets, etc.—with you bank or lender. After reviewing the information, the bank or lender will give a loan estimate. The process is relatively simple, only taking a few business days to process.

Pre-approval

The pre-approval process is more involved than pre-qualification. After submitting a mortgage application, your lender will require all the necessary info to conduct a thorough credit history check and review of your financial health. Getting pre-approved will give you a better idea of how much you can borrow, estimated monthly costs, and what interest rates you can expect on your loans. Mortgage pre-approvals are typically valid for 60 to 90 days.

 

Benefits of Pre-Approval

Credibility

The truth is, each home on the market can only go to one buyer. To maximize the chance that your offer is accepted, sellers need to know that your offer is serious. Getting pre-approved shows that you are financially prepared and, in the event that your offer is accepted, there will be no hold ups in obtaining your mortgage. This assurance is what sellers want to know about their potential buyers, especially in a seller’s market.

Home search

Not only does pre-approval help to bolster your case as a buyer, but it also Indicates your affordable price range. By knowing your budget, you will be able to hone your home search and start preparing offers, eliminating any potential wasted time looking at houses you can’t afford.

Closing process

Once your offer is accepted, you’ll be counting down the days to move-in. Unfortunately, the closing process can often drag on, leaving buyers feeling like they’re in post-purchase limbo. Pre-approval will speed up the closing process, since the mortgage approvals have already been taken care of, allowing you to focus on next steps like appraisals and inspections.

 

When to Get Pre-Approved

Being financially prepared for a home purchase is a solid indicator that you’re ready to go about getting pre-approved, but what does that look like? Buying a house means taking on serious debt, so it’s important to either have your remaining debt paid off or have a clear path to becoming debt-free before getting pre-approved. Having adequate savings for a down payment is a sign that you’re ready to make your offer. For any questions about the pre-approval process and to get connected to a mortgage professional, contact your Windermere agent.

Writing

The post The Importance of Pre-Approval appeared first on Windermere Colorado REALTORS.

The Importance of Pre-Approval

/in , , , , , , , , , , , /by

To set yourself up for a smooth and successful home purchase, getting pre-approved is perhaps the most productive first step you can take. It strengthens your buying credibility, informs your home search, and speeds up the closing process.

The Pre-Approval Process 

There is an important distinction to made between two important steps of your mortgage application process: pre-qualification and pre-approval. They are similar in that they both help to inform your financial standing, but there are key differences between the two.

Pre-qualification

Pre-qualification is the first step in your mortgage application process. It will help you to understand the approximate loan amount you can expect to qualify for. You’ll begin by sharing your financial information—debt, income, assets, etc.—with you bank or lender. After reviewing the information, the bank or lender will give a loan estimate. The process is relatively simple, only taking a few business days to process.

Pre-approval

The pre-approval process is more involved than pre-qualification. After submitting a mortgage application, your lender will require all the necessary info to conduct a thorough credit history check and review of your financial health. Getting pre-approved will give you a better idea of how much you can borrow, estimated monthly costs, and what interest rates you can expect on your loans. Mortgage pre-approvals are typically valid for 60 to 90 days.

 

Benefits of Pre-Approval

Credibility

The truth is, each home on the market can only go to one buyer. To maximize the chance that your offer is accepted, sellers need to know that your offer is serious. Getting pre-approved shows that you are financially prepared and, in the event that your offer is accepted, there will be no hold ups in obtaining your mortgage. This assurance is what sellers want to know about their potential buyers, especially in a seller’s market.

Home search

Not only does pre-approval help to bolster your case as a buyer, but it also Indicates your affordable price range. By knowing your budget, you will be able to hone your home search and start preparing offers, eliminating any potential wasted time looking at houses you can’t afford.

Closing process

Once your offer is accepted, you’ll be counting down the days to move-in. Unfortunately, the closing process can often drag on, leaving buyers feeling like they’re in post-purchase limbo. Pre-approval will speed up the closing process, since the mortgage approvals have already been taken care of, allowing you to focus on next steps like appraisals and inspections.

 

When to Get Pre-Approved

Being financially prepared for a home purchase is a solid indicator that you’re ready to go about getting pre-approved, but what does that look like? Buying a house means taking on serious debt, so it’s important to either have your remaining debt paid off or have a clear path to becoming debt-free before getting pre-approved. Having adequate savings for a down payment is a sign that you’re ready to make your offer. For any questions about the pre-approval process and to get connected to a mortgage professional, contact your Windermere agent.

Writing

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A Guide to VA Loans

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Military

Image source: Shutterstock

VA loans provide a path toward homeownership for active service and veteran personnel and their families. The following serves as a guide to understanding what they are, who they are available to, and what types of loans are available to them.

VA loans can be confusing, so talk with your Windermere agent as you prepare to discuss your options with your lender. “Even people in the military have misconceptions about (VA loans),” said Windermere agent and Veteran Gervon Simon in a recent episode of our “Ask An Agent” series.

 

What are VA Loans?

The VA loan program was established by the United States Department of Veterans Affairs (VA) to help active service members, veterans, and surviving spouses become homeowners. VA loans are backed by the federal government yet provided by private lenders such as banks and mortgage companies. VA loans can be used to buy, build, or improve a home, or to refinance a current home loan.

 

How do VA Loans work?

VA loans have appealing characteristics for homeowners including lower-than-average mortgage rates, zero down payment on the purchase price, no-prepayment penalties, limited closing costs, and no Private Mortgage Insurance (PMI). They are typically easier to qualify for than standard home loans. With VA-backed loans, they guarantee a portion of the loan from a private lender. This means less risk for the lender, often resulting in more favorable terms for the homeowner. You do not have to be a first-time homebuyer to receive a VA loan. VA loan limits vary by county, so be sure to work with your Windermere agent to determine the limit in your area.

 

Which loans are available?

 

Purchase Loan

  • VA-backed purchase loans may be used to buy a single-family home, condo, manufactured home, or land. They also may be used to make energy-efficient changes to your home. Additionally, you can use a purchase loan to build a new home.
  • They offer no down payment, as long as the home’s sales price does not exceed its appraised value.
  • There is no need for PMI or mortgage insurance premiums (MIP).

 

Native American Direct Loan (NADL)

  • For Veterans who are either Native American or have a Native American spouse, the NADL can help to buy, build, or improve a home on federal trust land.
  • Beyond basic requirements of eligibility and credit standards, to be considered for the loan your tribal government must have an agreement—or Memorandum of Understanding (MOU)—with the VA. For more information on MOUs, visit this page: MOU Info

 

Interest Rate Reduction Refinance Loan (IRRRL)

  • The IRRRL is a refinancing tool for those with VA-backed home loans that are looking to reduce their monthly mortgage payments.
  • The IRRRL replaces a current loan, giving homeowners the ability to stabilize their repayment plans.
  • A VA funding fee may be required. Loan interest and closing fees will be charged by your lender but including these costs in your IRRRL will help you avoid paying the costs upfront.

 

Cash-out refinance loan:

  • The cash-out refinance loan allows homeowners to take cash out of their home equity or refinance a non-VA loan into a VA-backed loan.
  • In addition to your Certificate of Eligibility (COE), you’ll need to provide additional federal income tax information to your lender.
  • A home appraisal will be ordered by your lender. Similar to an IRRRL, a VA funding fee may be charged at closing. Follow their closing process and pay all closing costs.

 

For more information on the different types of VA Loans, eligibility, and more, visit the Veterans Affairs website here: VA Loans

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Buyer Beware: Is That House For Sale Haunted?

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Haunted House

Image Source: Canva

A trope as old as horror movies: a family moves into a beautiful house that they bought for well under market value. They’ve put all their savings into the move, and they’re looking for a fresh start. When they meet the neighbors and other townsfolk, they quickly learn that there’s a history to the home that they weren’t aware of.

When they start to experience the abnormal, it’s easy to brush off as new home jitters. The children who hear noises in the closet, and a husband who starts sleepwalking, are chalked up to stress and anxiety from the move. It’s only when the experiences escalate beyond control that the family finally realizes the extent of the haunting.

While sharing a home with the supernatural can be a selling point for some buyers, it’s quite the opposite for others. In fact, a 2017 survey by Realtor.com found that 33% of people were open to living in a haunted house, 25% would consider it, but 42% said it was a deal-breaker. So how do you make sure you’re fully informed about a home’s history? Knowing the right questions to ask is the first step:

 

Ask to see the seller disclosure form

In the famous 1991 case Stambovsky v. Ackley, the new homeowner, Jeffrey Stambovsky, won a lawsuit against the previous owner for not disclosing the history of hauntings.

In this case, the previous owner had published stories about the family’s experiences in Reader’s Digest and their local newspaper. In her writings, she explained several interactions with ghostly beings in the home, including finding that her children had been given rings, which would later disappear, bed shaking, and conversations with the floating specters.

The court took this evidence and ruled the “defendant is estopped to deny [the ghost’s] existence and, as a matter of law, the house is haunted.” Setting a new standard, this case created a basis for future seller disclosers. In this instance, they found that the history of the home, and the seller’s experiences in the home, would have influenced the marketability, and therefore, omitting these facts was unfair to the buyer.

Fast forward to 2019, there is not a specific section on seller disclosure forms for hauntings or ghostly sightings, but thanks to Stambovsky v. Ackley, sellers in many states are obligated by law to disclose things that affect a house’s marketability.

 

Ask Google about the history of the home

In 1991 when Mr. Stambovsky bought his haunted house, search engines didn’t exist. Today, we’re lucky enough to have things like Google which would have found the previous home owner’s stories in mere seconds. Search keywords like the address or town name, and words like “haunted” or “ghosts”, as well as “murder” or “news report” should help you start your dive into the history of the home.

 

Ask the neighbors and your agent  

This is where nosey neighbors come in handy. When you find a place you’re serious about, contact the neighbors to see what they know about the home’s history. The same goes for your real estate agent; he or she can reach out to the listing agent to see if there is anything haunting you should know about prior to buying. While many states don’t require sellers to disclose paranormal activity or deaths in the home, if asked, all real estate agents must, by law, answer truthfully.

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The Remote Worker’s Home Buying Process

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Home Office

Image Source: Getty Images

The pandemic’s influences on home life are far-ranging, prompting buyers to look at homeownership through a new lens. Remote work has created a paradigm shift in the wants and needs of homebuyers. Here’s what the remote worker should keep in mind when looking to buy.

Location

The location, location, location cliché has taken on new meaning for homebuyers who work from home. Because remote work gives us the opportunity to work from anywhere, home searches are expanding. Work commute times typically play a significant role in the home buying process; however, many buyers now have the option to view homes further away from their places of work.

Those who previously dreamed of the quiet life, but didn’t want the commute that came with it, are now able to make a move toward a more suburban environment. If you prefer to be away from the hustle and bustle of a downtown area but don’t want to feel isolated, search for properties in the suburbs with active town centers.

The proper space

When COVID-19 began sending workers home in the early months of 2020, homeowners worldwide discovered their varied level of preparedness for remote work. Some had spacious home offices and were able to make the transition easily. Others had to create makeshift workspaces out of living rooms or bedrooms. What we have learned is that a dedicated workspace is paramount to productive remote work, its importance emphasized by the unknown timeline of a return to working in-person in many parts of the country.

Before you buy: 
  • When searching for homes, understand that a home office situated in an open floor plan is more prone to distraction.
  • Look for features such as an additional bedroom, finished basement, or bonus room that offer ample space to create your remote work environment.
  • Having a designated space you can associate solely with work will not only drive your focus but helps to balance your home and work life. It allows you to wrap up the workday, leave your home office, and easily transition back into the goings-on of your household.
After you buy: 
  • Light it up: You’ll want plenty of light in your home office to stay fresh throughout the workweek. If you are next to a window, let in as much natural light as possible. Add in desk and floor lamps to brighten your space.
  • Work comfortably: While working at home, it’s easy to sit in one place for hours on end. Shop for comfortable desk chairs that provide proper lumbar support. Explore alternatives to desk chairs like yoga balls and standing desks.
  • Personalize: Adding personal touches will help to make your home office feel comfortable. Inspirational quotes, your favorite artwork, and pictures of loved ones are all types of décor that will keep you inspired in your remote work.

For all these considerations and more, talk with your Windermere agent about how your remote work is shifting where you’re looking for a home and what you’re looking for when it’s time to move there.

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