Essential Tips to Buying a Home with Bad Credit

Buying a house with bad credit
Qualifying for a mortgage can be one of the more frustrating aspects of the steps to buying a house , even if you have great credit. On the other hand, if your credit is bad or damaged, getting a loan will be even more difficult, but not impossible. Bad Credit, Bankruptcy, Short Sale and Foreclosure don’t mean you’ll never be able to buy a house; t...
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How Do You Determine Market Value?

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As a Realtor people often ask me how market value is determined. Sellers want to know their market value so they can decide on a fair asking price. Buyers want to know the market value of their home so they can see that the price of the home is justified. Here is the advice that I usually I give them. Factors that Influence Mark...
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How Does a Realtor Get Paid, Anyway?

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Ever wonder HOW and HOW MUCH a Realtor gets paid? Before I bought my first house, I was aware of HOW Realtors got paid. I had the chance to work in the industry earlier in my working career. However, it wasn’t until I started researching how to become a Realtor, and considered becoming a Realtor myself, that I learned more about HOW MUCH a real est...
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Understanding Your Property Taxes

Understanding your Colorado Springs property taxes
Will property taxes go up in 2017? Better yet, just how are property taxes calculated? Here, in Colorado Springs, the El Paso County Assessor re-evaluates the value of homes every two years. He starts with the current market value of the home. Market Value is based on the most recent comparable sales in the area. Once market value is determined, he...
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1st Time Home Buyer's Seminar

1st Time Home Buyer's Seminar
In this crazy, fast-paced real estate market in Colorado Springs, if you blink you might miss out on getting the #1 home on your list. You need to know what you are doing and you need a good team on your side giving you the right advice. On Saturday February 4th, you are invited to a 1st Time Home Buyer's Seminar that will give you some great advic...
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Fears and Worries of Home Buyers

Fears and Worries of Home Buyers
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Have you, or someone you know, been considering purchasing a home but the associated worries seem to be too overwhelming? Here are a few thoughts that should hopefully help alleviate those concerns. Worried about the associated costs required to purchase a home? Worried that you will not be able to take vacations or go out to dinner or plan for ret...
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Cash Buyers for Homes: Pros and Cons

Cash Buyers for Homes: Pros and Cons
Right now I'm working with a cash buyer, meaning they do not have to get a loan to purchase a home.  Often times cash buyers ask "can I negotiate more since I'm paying cash?"  Here is what I tell them:  Advice for Cash Buyers Being a cash buyer is great because you don't have to wait the usual time for a mortgage loan. You can usuall...
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Low Property Taxes in Colorado

Low Property Taxes in Colorado

I often hear buyers comment on how low our property taxes are here in Colorado as compared to other states. I've heard that in places like New Jersey they are much higher.  But I never knew exactly how much higher. Recently I came across this article on Realtor.com   It's about property taxes and how much they cost in each ...
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Mortgage Interest Rates in 2016

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Everyone is speculating about interest rates. Will they go up in 2016 or will they remain low? A low interest rate allows the home buyer to qualify for a higher priced home. When interest rates go up, buyers do not have as much buying power. Here is an excerpt from an article I recently read on realtor.com : "Mortgage rates will likely be volatile ...
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Understanding Your Property Taxes

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  Will property taxes go up in 2016?   Better yet, just how are property taxes calculated? Here, in Colorado Springs, the El Paso County Assessor re-evaluates the value of homes every two years.   He starts with the current market value of the home. Market Value is based on the most recent comparable sales in the area. Once...
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Ringing in the New Year

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As we wrap up 2015, I want to thank you all for your business, referrals and friendship. I am so grateful to do this work and for all of you, for making this a wonderful year! Here is what our Colorado Springs real estate market saw in 2015 (as of November 30 th ) : Single Family Home Sales Up 17.6% from last year Condo/Townhome Sales Up 29.9% from...
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Getting Your Homeowner's Insurance Refund

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Did you know there might be money waiting for you?   And if you don't claim it, it may never be yours to keep.  I am referring to homeowner's insurance refunds.  When you buy a home you purchase homeowners insurance for it.  And most of us have that insurance policy premium paid by our mortgage lender.  In this ca...
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Show Me the Money!

Show Me the Money
When purchasing a home, personal checks are not accepted at the closing table.  “Good Funds” as our contracts call money due at closing, will need to be either a cashier’s check or wire transfer. A cashier’s check is simple to obtain. Usually you can purchase one at your bank. These work well when you have a down payment to bring.   BUT b...
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New, Easier-to-Understand Paperwork for Homebuyers

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For Colorado Springs homebuyers who have been frustrated by all the numbers and descriptions on the Hud-1 and Truth-in-Lending Disclosure Statements, there is good news.   Starting October 3, 2015, lenders must issue new documents clearly delineating the costs associated with a home purchase: the Loan Estimate and the Closing Disclosure. Known...
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There is Life After Foreclosure for VA Loans.

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You can obtain another VA loan after you have experienced a short sale, foreclosure or deed-in lieu foreclosure with an existing VA loan. But there is no guarantee…you must determine how much (if any) entitlement you have left previous post to learn and meet the necessary salary and credit qualifications. Remember that your credit score will be “di...
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Here's a little secret....You Can Have More Than One VA Loan at a Time.

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Many veterans are not aware that they can qualify for more than one Veterans Administration loan at a time, depending on circumstances. They can take solace in the fact that many lenders are also not aware of this situation. The VA loan limit for veterans who wish to buy real estate is $417,000. This is the base amount—the limit may be higher...
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Everything You Need to Know About Mortgages, But Didn’t Know Who to Ask

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The world of home financing is a multi-faceted one and we at Springs Homes would like to help you understand the ins and outs of the mortgage world. Much of the confusion and seemingly random nature of the home loan and mortgage process has to do with where the money comes from and how it flows. In this article we will discuss the various roles pla...
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What You Get: Tri-Lakes $325,000 to $400,000

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The Tri-Lakes area is located in Monument, Colorado just minutes north of Colorado Springs. This area grew because it is convenient to both Colorado Springs and Denver. Lots sizes in this area are larger as are the homes and their prices. We have looked at the last six months of sales (March 2014-August 2014). In this period we saw a high sale of $...
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