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Buying A Home In The Spring

Buying a Home in the Spring

Spring and summer are the high season for buying a home: according to one estimate, about 40 percent of home sales happen from April through July. Spring is a great time to buy a home, because buyers can move in better weather, have months to fix up the house before the cold sets in, and can get kids settled before the school year begins.
However, those advantages also mean that spring can be a competitive time to house-hunt. It’s important to be prepared: Know what you want, what you’re willing to trade off and how much you can spend, and be ready to move quickly when you find the home you want.

buying a home in the spring

Set Your Budget for Buying a Home

First, decide how much house you can afford. Besides monthly mortgage payments, you must have enough money for a down payment, closing costs, moving and the initial expenses of living in the home, including things like new furniture and paint.
The Mortgage Bankers Association recommends that buyers spend no more than 2.5 times their income on a home. Total housing payments should not exceed 28 percent of your gross income, and total debt payments should be less than 36 percent. That means payments on all loans, including your mortgage, student loans, auto loans and credit card debt. Try our Home Affordability Calculator to do the math.

Determine Your Home Wants and Needs

Before setting out on your search for a home, determine your needs. Make a list of what you absolutely must have and what you would be willing to forgo. Research the neighborhoods that interest you. Check out the schools, the local services and the public facilities and speak to people on the street to get a feel for the area.

Choose a Good Real Estate Agent

Local agents offer information you can’t always find online or through property listings. Agents know the prices of recently sold properties, and many have a good handle on what a house is worth. A buyer’s agent will represent your interests; helping you find homes that fit your budget and list of requirements and helping you get the best deal.

Get Mortgage Loan Pre-Approval

Speak with several mortgage lenders, online and off, and choose the best rate and the most appropriate terms for your budget. The low rates that are available may not last indefinitely, so see if you can lock in all or part of the loan. Many lenders offer various plans for your monthly payments. With a mortgage loan pre-approval in hand, you’ll be ready to act quickly when you find a home you want to make an offer on.

Blog by Cina Coren

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If You Are Thinking Of Selling, Now Is The Time!

If You Are Thinking of Selling, Now Is The Time!

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

spring is the time to sell

If you thought about selling your house this year, now may be the time to do it. The inventory of

homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in

high school when we learned the concept of supply and demand: the best time to sell something

is when supply of that item is low and demand for that item is high. That defines today’s real

estate market.

Smoke goes on to say:

“Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster. So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price

and other aspects of the real estate transaction including the inspection, appraisal and financing

contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

Blog by: The KCM Crew

For information on how to sell your house FAST and for MORE contact The Joe Reed Team now.

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Change Is In The Air

Change Is In The Air

Change is definitely in the air early this year in Colorado. Being born and raised in Colorado, I have learned that our beautiful state and this industry can throw just about anything at us. The changes in Autumn make it my favorite season. Maybe that is one of the reasons I love Colorado and in particular, the Grand Valley.

I have always believed that while sometimes tough, change is good. One of my favorite quotes about change is, “Change is the essence of life. Be willing to surrender who you are for what you could become”. With that being said, we at The Joe Reed Team have had some changes that I would like to share with you. As you know we have always tried to provide the best support team to our agents and to you, our clients.

Kristie Clark has played a vital role in that but now has taken on a new role with our team. She is now the Buyer’s Coordinator for the team. We are very excited for her to bring her knowledge and spirit to another division of The Joe Reed Team.

I would also like to introduce Nicolle Lewis, our new Listing Coordinator. She is a tremendous asset to our team and we couldn’t be happier with where things sit for us as we move into the 4th Quarter.

I want to thank you for taking a moment to read our blog and we look forward to helping you, your friends and your family with all of their real estate needs.

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How to Sell Your Home Quickly Over the Holiday Season

How to Sell Your Home Quickly Over the Holiday Season
It’s tempting for many sellers to take a step back over the holiday season and wait to list their home until after the New Year. Some sellers may even pull their homes off the market temporarily to relist once the holidays are safely behind them.
This strategy works well for sellers who may have other obligations and can’t be as committed to the sale of their home during the holidays. Admittedly, there are many distractions – holiday parties, family obligations and an endless to-do list. But if you’re motivated to sell, staying focused during the holidays can really pay off.
The end of the year is typically a slower time of year for the real estate market. For motivated sellers, that means less competition. Once the New Year hits, there will likely be a flood of inventory from all those sellers who were holding off on listing their homes. Take advantage of the lack of inventory during this season to make your home stand out and attract your ideal buyer. The holiday season can present some unique opportunities to get your home sold quickly if you take the appropriate steps.
Price competitively. One sure way to make your home stand out against the competition is to price appropriately. The market is incredibly price sensitive. Even slightly over-pricing a home can result in lost momentum and extra days on the market. If your goal is to sell quickly, then over-pricing is not an option.
There may be fewer buyers actively looking on the market during the holidays, but more of these buyers will be serious prospects who are also making their home search a priority. Work with your listing agent to develop an appropriate pricing strategy that works for you and that will also catch the attention of potential buyers.
Make your home shine. Make sure your home is showing at its best. This is the golden rule no matter what time of year you’re listing your home, but it can be especially difficult over the holiday season. Out-of-town guests, holiday decorations and winter weather can all be challenges to getting your home in showing condition.
Holiday lighting, a fire crackling in the hearth, and festive decorations can make a home feel inviting and appealing but only if it’s been executed correctly. Think classic and minimal. Going overboard with holiday lawn ornaments, chotchkies or flashing, multi-colored lights could be a major distraction for buyers. Less is more.
Decorate strategically, get organized, and make a plan so you can easily and painlessly get your home ready for a last-minute showing request.
And if you’re putting your home on the market for the first time, you may want to hold off on the holiday decorations altogether, or remove them temporarily for the photo shoot. Second to price, excellent photography is one of the most important ways to make your home shine and to catch the eye of potential buyers.
A few extra pieces on the fireplace mantel or a garland on the banister can probably be overlooked in person, but it could stand out like a sore thumb in your property photos and distract buyers from noticing your home’s most impressive selling points.
Be flexible. The best way to sell your home during the holidays is to be flexible and make your home easy and available to show. This can be easier said than done, but it’s important to keep your end goals in mind. You’ve already gone through the work of getting your home ready to sell over the holidays, but if you don’t make your schedule flexible enough to get buyers in to see it, it will all be a wasted effort.
Buyers who are looking during the holiday season are often more serious and more motivated to buy and close quickly. Both buyers and sellers alike may take advantage of tax incentives for closing before the end of the year. Although, you should speak with your tax advisor regarding your individual tax situation.
Selling during the holidays also allows you to reach out-of-town buyers who may only be in town for a short time, house hunting during their vacation or in-between visiting family. Scheduling during the holidays can be difficult, so the more flexible you can be to get buyers in the door, the better the chance of a successful sale.
For serious sellers, listing your home over the holidays has its definite advantages. Less inventory means less competition and buyers who are searching over the holidays tend to be more motivated and willing to close fast.
Set yourself up for success to sell your home quickly over this holiday season. Price competitively to attract buyers, make your home shine (less is more), be flexible about scheduling so you can get potential buyers through the door and stay focused. Because, ultimately, what better way to start the New Year than with a fresh start and the successful sale of your home?
Blog by: Sally Forster Jones

http://realestate.usnews.com/real-estate/articles/how-to-sell-your-home-quickly-over-the-holiday-season/

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You Want To Buy or Sell, Now What?

You want to Buy or Sell – Now What?

 

After helping people buy and sell real estate for over 12 years, I hear all people tell me all the time that they didn’t know where to start, what to do, what not to do, and they were a little scared. I ask them, “Well how did you decide to call me” and they almost always say, “our friends used you or we saw you sell that house down the street” or something to that effect.

The Joe Reed Team

It started me to think, what does the person do who doesn’t know someone or is going to start this process alone?

So with the beginning of 2017 here I decided to give my advice to those individuals who need help starting the process of buying or selling.

If you are selling your home:

  1. ALWAYS make sure that the Realtor you are considering is a Realtor. Every agent is not a REALTOR®, but most   are. If you’re unsure, you can ask your agent if they’re a licensed REALTOR®.  REALTORS® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.  Some REALTORS® are brokers, while some are agents. Unfortunately, people use the term interchangeably: there are some differences.
  2. Interview more than one agent! I would suggest that you interview 3 agents. That way even if you go with the one you like the most from the get go, you will know that you made the right decision and won’t question, “what could have been”
  3. Ask questions! Don’t be shy to ask the tough questions. These are some of the ones I recommend.
  1.  How long have you been a Realtor?
  2.  Have you sold homes like mine previously?
  3.  What are your marketing strategies to help sell my home?
  4.  Are you a full time agent?
  5.  Does the agent communicate in a way that works for you? i.e. – texting, social media etc..

 

If you are Buying a home, here are some questions to ask your Buyers Agent

 

  1.  Are you a full time agent?
  2.  Is this agent able to show you homes in the time frames you need?
  3.  How long have they been an agent?
  4.  How strong of a negotiator is this agent?
  5.  What tools does this agent have to help you see a home before anyone else does?
  6.  Does the agent communicate in a way that works for you? i.e. – texting, social media etc..

Some additional questions you should ask are:

  1. Ask the agent why they like real estate. This one can really give you a good feel for if you have the right agent for you. You are going to be spending a lot of time with this person and so you want to have a good relationship with your agent.
  2. How many homes did you and your brokerage sell last year? This is important to know because you will learn how much experience they have as well as how familiar they are with the market.

 

These are just my recommendations on questions to ask, however, for more information please visit http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-sellers/questions-ask-when-choosing-realtor for more great questions and advise.

We at The Joe Reed Team are full time real estate team dedicated to excellence. We would love an opportunity to meet with you whether you are buying or selling or investing. Call us today at 970-270-7505, isit our website atwww.joereedteam.com, or catch up with us on social media.

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What makes a buyer fall in love?

What makes a buyer fall in love?

With Valentine’s Day now behind us, I started thinking about what truly moves people in real estate and what it is about a particular house that makes someone fall in love with it.

Some Buyers are kitchen people, some are outdoor people, some are theater people but are there things that are consistent across the board that make people fall in love with a home?

This article from Realtor.com has some ideas in it about what truly makes a Buyer fall in LOVE. It is a great read. http://www.realtor.com/advice/sell/love-at-first-sight-home-buyers/

The Buyers Agents here at The Joe Reed Team are not “ordinary agents” who send you properties from the MLS and wait for you to tell them if you like one. They are up early checking to see what has been listed over night, they are checking throughout the day for the perfect one to pop up and get you in before any other Buyers get a chance to see it. They are talking and networking with other agents about properties that are about to hit the market or that have recently expired and are no longer available to the public thru the internet or websites. They are previewing properties for you so that they don’t waste your precious time with properties that won’t work. Simply put, they just worked harder and smarter than most agents to ultimately get you thru the front door of the house that you are going to fall in love with.

Call us today at 970-270-7505 or visit our website www.thejoereedteam.com to get to know Adam, Chad or Cody and have them help you find the perfect home to fall in love with. 

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Tips for Buying a Home for a Growing Family

You’ve gotten married and started a family. Maybe you only have one child now, but you know you want more. That has a direct impact on your home buying needs. If you’re planning to grow your family, you’ll need to ensure that you’re buying a home that will accommodate your new little ones, pets, assorted toys and more. These simple tips will help you do just that.

Floor Plan

The first consideration here is the floor plan. Does the home have enough bedrooms and bathrooms? Are the rooms located where you want them? Is there a bedroom close to the master that can double for a nursery? Do you want all the bedrooms on the same level?

Area

If you’re planning to have kids (or more kids), the area around your prospective home should be a vital consideration. What’s the makeup of the population? Are there other young families around? Are the other residents mostly retirees? What about traffic? Is there a park or recreation center in the neighborhood or nearby?

Proximity to Schools

Kids have to go to school, and the closer your home is to a good school, the better it will fit your needs. Consider the area’s schools, their rankings in terms of education quality, and their proximity to your home. This also includes pre-k and other early learning options.

Other Family Members

New parents need help, and the most common source of assistance is other family members. How far away are your in-laws or siblings? Most buyers opt to live about 30 minutes maximum away from other family members to ensure that they can easily access help and assistance with childcare and other needs.

These few simple tips will help you find the perfect home for your growing family.

Source:

5 Tips for Buying a Home with a Family

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Finding the Right Real Estate Agent for the Western Slope

Whether you are buying a property or selling a property, it’s a tough road if you decide to walk it alone. Instead, it really is in your best interest to find a professional real estate agent who can help you with all aspects of the property from start to finish. However, as you are aware, there are a number of agents out there that will be vying for your business. How do you choose which one is the right one for you? Fortunately, it is not overly difficult when you use a few simple tips.

 

First, ask how long they’ve been in business. If it’s a new agency, that’s not always a problem. You need to know how long the agents have been working in the field though. Having someone who is brand new can be a detriment unless they have someone with experience showing them the ropes. Still, you probably don’t want a brand new agent working with you.

 

Second, ask them how much they know about Western Slope and the towns in the area. You want to work with someone who has intimate knowledge of the area. This ensures that they will know the best neighborhoods and towns, and that they can give you some insight into the schools and the other things that make a community a place you would want to call home.

 

Third, ask the real estate agent how they will communicate, as well as how often. This is important whether you are buying or selling. You want an agent that will let you know as soon as houses that fit your needs come onto the market. You also want to have an agent who will work hard if you are selling a home, and who will know how to market and price it properly for the Western Slope area.

 

Resource: http://money.usnews.com/money/personal-finance/articles/2014/05/28/5-questions-to-ask-before-choosing-a-real-estate-agent

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Qualities of a Good Real Estate Agent

All the real estate agents are having their own different qualities, however, there are several common traits that are being considered as a positive for anyone headed into the property market. These qualities will be able to help you in buying or selling you home a lot more quickly while you can also ensure that you will get the best deal possible based on the market at the point in time that you are making the transaction. Thus, if you are finding to head into the property market, you can try finding a real estate agent that is embodying the following qualities:

Honesty

As unlucky as it may be, the real estate industry are having something of a reputation to host people who are selling snake oil to their customers instead of looking out for their best interests. By no means, this describes each agent in the industry, but there are some bad apple who are making it a lot harder to develop that all significant trust than it should really be.

As such, you need to hire a real estate agent who will always be honest with you about your property, and many different facet going into the transaction. Even the best real estate agent are not having all the answers and it will be much more encouraging if you would hear that they do not know but they will try to find out, as opposed to a marketing speak slew being designed to take your focus off the topic.

Hard working

A work ethic will go a long way in the business of the real estate so you would want to be sure that your real estate agent will do everything they can with the goals you have in mind. They must be willing to be carrying out any research that is needed to be done, making full use of the their contacts as well as the marketing facilities at their disposal in getting your property out there or finding you something that you would want to buy.

A good real estate agent will be providing you with regular updates in relation to your potential transaction making the effort in order to keep you at the forefronts of their minds. They will as well be present for viewing, leaving as a little of work as possible at your hands. If your real estate agents would insist you to handle viewings on your own and will be doing all the legwork, it might be the time to find a new one.

Engaging personality

At the end of the day, a real estate agent will have to be able to express themselves, drawing your interest. If they are not able to do that for you, what would be the chances that they can be able to do it for anyone else? Your real estate agent should be personable, friendly and engaging, without a need to come across as dishonest or false. Some may need to develop this through time, whereas there are others who naturally simply charming. However, in order to find success in the real estate industry, they need to be able to talk about the things’ business side without having to lose the interest of the client and ensure that they understand everything that have been said.

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3 Deal-Breakers to Look For When Inspecting a House

If you’re planning on buying your very own piece of real estate in Grand Junction, the single most important thing you can do after going under contract is to get a home inspection. Without a doubt, hiring a home inspector to go through every nook and cranny of your potential home-to-be is one of the best uses of your hard-earned money.

 

A good home inspector will go through a house with a fine-toothed comb to uncover both the positives and negatives. It should take them at least 2-3 hours and can cost upwards of $600, but a home inspection can save you thousands of dollars in the long run by making known all the problems, how much they’ll cost to fix (should you decide to buy), and the severity.

 

In some cases, however, a home inspection isn’t even needed. If you know to look for these 3 deal-breakers when inspecting a house on your initial walk-through, you can save yourself a lot of money and time by walking away then and there:

 

1) Doors and windows don’t open and shut properly. This is a big one because this could signal foundation problems. Fixing a foundation can cost anywhere from $5000-7000 and sometimes even more, depending on the severity.

 

2) The roof has hail damage or needs replaced. New roofs come in around $3700-7500 and oftentimes your insurance company won’t cover a roof that is over a certain age. If the roof looks worn and leaky, make sure you ask for it to be replaced by the current owner or expect to cough up the money yourself.

 

3) Asbestos. Yes, it still exists in the walls, floor tiles, and around furnace ducts in older homes and can be a real nightmare to mitigate. It’s totally stable and non-hazardous as long as it isn’t disturbed, but what if you want to open up a wall that has asbestos in the plaster? You’ll have to bring in a company that specializes in hazardous materials removal and charges a premium to do it.