 |
Goff Leanne |
|
|---|---|---|
| http://LeanneGoff.com Cell: 720-203-6227 Fax: 866-283-1511 Broker Associate Walnut Realty, Inc. Boulder, CO |
Tweet |
Colorado Tips Goff Leanne
Colorado is everything you imagined! We have all the outdoor adventure that first comes to mind when thinking about our mountains and resorts. To compliment the rugged outdoors Denver is a thriving metropolis! There are many different neighborhoods throughout the Front Range area and up into the mountains that can and will fulfill all the different needs and desires of our residents.
The Front Range, the flat plains East of the mountains, comprises almost 70% of the population for the state. The Denver-Aurora-Boulder combined area is home to 60% of the total population. Therefore we will focus our review on this area; generally referred to as Metro Denver.
The Metro Denver area has a wide range of neighborhoods offering a variety of lifestyles and environments. Denver was established in the early 1800’s with Boulder following shortly thereafter in the 1850’s. Being that many of the homes are historic and older, there can be quite a range of available properties. Some neighborhoods lend themselves to historical elegance and others tend to be more run-down-fixer-upper areas (which is great for those of us searching for deals!)
Some of the historic neighborhoods have already gone through their facelift. These are ultra-expensive neighborhoods that are often decadent and luxurious — the good news is that the expensive neighborhoods are often flanked by more reasonably priced areas where deals can be found! Having a Realtor who is experienced in the Metro Denver area can help you understand what is an established neighborhood, and which one is up and coming.
One very good idea before going out to look at property is to talk to a lender. They can let you know what you are approved to borrow. Even more importantly they can show you a few scenarios depending on the purchase price; meaning they can break down the monthly payments for you according to different down payment scenarios. When doing this be sure to ask if they are including principle, interest, insurance, taxes and HOA in the monthly estimate. This helps you get an idea of what you can afford, and what a deal would really look like.
Because of all the specific neighborhoods throughout Metro Denver, it is highly recommended to use a local lender. They understand our neighborhoods, which can be very unique, and have programs that tailor to those markets. I can’t tell you how many times we’ve gone back to the drawing board because a national lender couldn’t get the job done. I strongly suggest using Jessie Thompson with Premiere Mortgage. She has a personal touch and I can always count on her to come through.
Foreclosures and short sales can be found throughout the Metro Denver area. Our area hasn’t been plagued like some of the coastal regions, but they are available. If you have the patience to work through a short sale, or to fix up a foreclosure, you can get a great deal on a home. These homes often are in a state of disrepair so a thorough inspection is required! I suggest spending the extra cash to go beyond the home inspector to bring in specialists for HVAC, pluming, electricity, roofing, etc. The small chunk of extra change it costs to bring these specialists out can save you big in the end! If it appears that any remodeling has been done go to the city to see if permits were pulled. If not, it could be a big expense down the road for you! There is often a lack of information on distressed sales so it’s up to you to figure out what is really happening with the structure.
Another issue with a foreclosure is that it might not qualify for FHA financing, which is a common loan that many people will try to apply for. Lenders have developed unique loans that can help finance the rehabilitation of these properties such as the HUD’s 203K and the HomePath Renovation Mortgage, which can be obtained with as little as 3% down in some situations! Sometimes there is more time involved in obtaining these mortgages, but if you don’t have the cash for the repairs this can be a great way to help!
When buying the home consider asking your agent about a home warranty. This will cover you beyond typical insurance policies for unforeseen problems in the home. Everyone I know uses Blue Ribbon Home Warranty in Colorado, because they are a local family owned company that has proven they can be depended on time and time again. When you are interviewing a Realtor to help you buy a home ask them if they will offer you a warranty at close. If they don’t, be sure to call me!
My clients have a choice of one of the services below that pay them back!
• Blue Ribbon Home Warranty: The home warranty covers both the buyer who are considering similar homes might be swayed to make an offer on a home that has a home warranty. The policy covers potential buyers for up to 14 months after close and will be paid for from Leanne’s commission at the closing table. http://www.blueribbonhomewarranty.com
• 5% Donation to Non-Profit of Seller’s Choice: After closing a donation totaling 5% of Leanne’s commission will be given to the non-profit organization of the client’s choice in the client’s name. Because the donation is in the client’s name they will be able to add the deduction to their taxes for the current year. It is my most sincere suggestion that this donation be made to the Boulder Valley YMCA for all that they give to our community – but who benefits is the seller’s choice. Please let me know what you are passionate about so that they can benefit from your kindness, and our relationship. http://leannegoff.com/BoulderRealtor/Contact/Donation.html
Be sure to be patient, and try your best not to get emotional. That way you can let the OK deals go and wait for the truly fantastic property to come available! The next one is always around the corner if you are willing to look.
If rugged outdoors and mountain adventure complimented by a thriving metropolis is your idea of living the life, then Metro Denver is your neighborhood!
Published by