Home Buying Tips

Found 61 blog entries about Home Buying Tips.

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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by Rob Kelly, LRA Owner & Managing Broker 

Some of you who have known me awhile know that I spend a lot of time "off the grid". I love to hike and get up to the mountains with family and friends or often I just go with my dogs, Baxter and Lilly. Spending a lot of my time lost in the beauty of places like Ward and Nederland inspired me to write a blog bout what it would be like to own a piece of Colorado.  

I am often amazed at some of the listings for land that pop up on real estate websites such as LandsofAmerica.com, enticing me to either buy a piece of remarkable acreage or help a client to do so! According to what I see on REColorado,  2017 has shown us remarkable properties for sale. Thanks to REColorado for sharing the following stories,

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By Rob Kelly, LRA Owner & Managing Broker

In Colorado's current booming real estate market, we hear many stories about prospective home buyers submitting multiple offers to no avail, as well as an ongoing trend that many Denver and Boulder area listings (between approximately $300K and $700K) selling for over 100% of list price. Naturally this results in many frustrated buyers.

According to the Denver Post, "Colorado’s population in July 2016 was estimated by the Census Bureau to be 5.5 million, up 91,726 people or slightly less than 1.7 percent — the seventh-highest growth rate among states for that year. State demographers forecast that Colorado will add plenty of people through 2020, with its population nearing 6 million."

If you are one of

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by National Dispatch 

Moving is an exciting, yet overwhelming, experience. The entire process requires an extreme adjustment. This is especially true for children who must leave old friends behind and make new friends at a new school in a new community. As a parent, you want to ensure that your child’s transition is an easy one, but what are the best ways to accomplish this?

    1. Talk to your child in advance. Call a family meeting to explain the details of the move.If you have a young child, there are many children’s books about moving that may help your child gain a better understanding, while also having fun in the process.
    2. Include your child. Involve your child in the house selection process, especially if they are older.Ask for their
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