Home Buying Tips

Found 64 blog entries about Home Buying Tips.

By Marina Gorbounov, Evolve Real Estate and Property Management

If you are considering investing in real estate, then you are in luck. Homeownership rates are at their lowest levels in 50 years. This major shift away from homeownership can be attributed to several factors I will discuss in this blog. 

Renting offers the kind of flexibility that younger Americans appreciate. This flexibility allows them to delay certain decisions such as starting a family or marriage that may precede buying a home.  Apart from this, buying a home is not affordable for many renters. This is because home values and incomes have risen disproportionately. As a result, millennials are renting for longer periods. Equally, the number of baby boomers staying in the rental

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by Robert Kelly, LRA Owner & Managing Broker

I don't mean to sound repetitive but in our seasonal outlook here, Louisville remains a hot seller's market, with very little inventory on hand for eager buyers. As the table below shows, the median list price increased from $699,000 in May 2018 to a whopping $739,000 in early August. Louisville's inventory increased a little as the spring months transitioned to summer, and currently sits at 55 homes, which is actually a decent increase from 43 homes in May. "Days on Market" (DOM) has remained stable at 60 days in early August, which includes time to close. However, a big move this summer has been that 45% of sellers were offering price reductions as of early August, up from 28% in early May 2018, and way

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By Cory Nickerson, LRA Associate Broker

Home buyers who are looking to live in HOA communities typically focus on two questions: 1) what are my HOA fees going to be? and 2) what is included in my HOA fees?  Of course those are important pieces of information, but I wanted to write this week’s blog about the other important factors that HOA home buyers should tune into before they waive their HOA contingencies and move forward a home purchase.  Follow these five steps below and you will go into your HOA membership with eyes wide open, thus limiting the number of unpleasant surprises you may encounter after you move in!

In Colorado, home buyers are entitled to ask for time to review any available documents to understand the background of an HOA.

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by Cory Nickerson, LRA Associate Broker 

No surprise...I meet a lot of home buyers.  When we get to talking about how they will be financing their new home, which usually involves a mortgage, many folks feel fairly well versed on the home buying process. However, I notice there are usually still quite a few gaps in their knowledge about what to expect when financing a home.

I thought I would write up a blog this week addressing some things you may not know about your lender (or potential lender).  I've noticed that a lot of home buyers don't learn these facts until they are far down the path of applying for their mortgage or even after they close. I would like to help you avoid any unpleasant surprises! 

    1. Your mortgage company will probably
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BY CORY NICKERSON, LRA ASSOCIATE BROKER

You found your dream home - a lovely turn of the century home lush with trees on the largest lot in the neighborhood. It took some work, but you won out over the other buyer competition, which is no small feat in this competitive market.  Your lender says you are a "shoe in" for the financing you need, which gives you great comfort. But then the inspection report comes in.  

You hear things like "Radon is measuring higher than the EPA recommendations".  You read on and mutter to yourself, that the fireplace did look pretty old and dusty and could use a service maintenance visit. And why is the seller providing you with a "Lead-based Paint Disclosure"?  Then you come to the sewer scope report, which says

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By Rob Kelly, LRA Owner & Managing Broker

Louisville, Colorado remains a hot seller's market, with very little inventory on hand for eager buyers who want in. The median list price of a single family home jumped from $625,000 in December 2017 to a whopping $699,000 in early May this year. Louisville's inventory did not change much from the dead of winter to early spring and currently sits at 43 homes for sale, which is actually only a slight increase from 39 homes in December 2017. 

Some of the metrics we pay attention to include "Days on Market" (DOM), which for Louisville decreased greatly from 86 days in December 2017 to 59 days in early May 2018, which includes time to close the transaction, so it is not a true reflection of how long a home

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by Rob Kelly, LRA Owner & Managing Broker 

Thanks to our state's rich and colorful history of ranching, farming and mining, coupled with a mild climate and burning desire to preserve our Colorado history, we are flush with older, well kept homes. In today's real estate market, many home buyers find these homes quite desirable.  One does not have to look too far from LRA's own office in Old Town Louisville to see the charm of miner's cabins, some which date as far back at the 1890s.  

Some of these vintage homes have been elegantly remodeled and some still appear to have much of their original home in tact. When we preview older homes in Old Town Louisville, Superior, Lafayette or Boulder, we often notice that such homes sell for 25% to 50%

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by Rob Kelly, LRA Owner & Managing Broker 

Are you one of the more than 1.3 million students graduating from college or secondary education with debt? The numbers of students over burdened with student debt seem to be keeping pace with the rapid rise of tuition and the other expenses.  According to the Institute of College Access and Success, "Graduates with student loan debt is up from 1.1 million in 2008 and 0.9 million in 2004. In 2012, 66% of graduates from public colleges had student loans and 75% of graduates from private nonprofit colleges had student loans."  

Since we are diving into the statistics, here's another sobering fact. According to a 2017 survey from the National Association of REALTORs (NAR), "Eighty percent of millennials

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by Cory Nickerson, LRA Associate Broker

It is about this time of year when those who are serious home buyers start paying attention to the market in anticipation of purchasing in the springtime. Interest rates are still historically low and while inventory has been a little tight for a few years, I believe if you remain patient and somewhat flexible (and realistic of course), I am confident you can own your own place when you are ready. 

The first question I hear from first time home buyers is “What do I need to do to prepare?". To help answer this very  large question, I have included a few of links to articles I recommend you read to help you get the big picture to start this journey. I don't like to overwhelm my clients, so I suggest you just

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By Cory Nickerson, LRA Associate Broker

By all general appearances, 2017 seems to be shaping up as another good year for those who sold homes, however, it may be brightening for buyers as well.  According to the Colorado Association of REALTORS® (CAR), "Colorado’s low inventory has caused frustration and a limitation on housing market growth. Luckily, statistics show a major increase for residential building in areas across Colorado."

Let's take a look at recent statistics for some of the East Boulder County towns we follow and see what has been happening since the selling season has slowed down. We typically see a slow down in inventory available and buyers who are serious after Labor Day. Now that we have almost a full year of data under our

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