How to Avoid the Most Common Buying and Selling Mistakes

by Windermere Windsor

There’s nothing more exciting, rewarding, and fulfilling than buying a home. However, it’s a complex transaction, and there are a number of steps along the path that can confuse, betwixt, and befuddle even the most seasoned buyers and sellers.

How can you avoid those potential pitfalls and common mistakes? Look to your real estate professional for advice and keep these guidelines in mind:

BUYERS:

#1 Review your credit reports ahead of time

Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct, and be able to dispute mistakes before a mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.

#2 Get pre-approved

Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.

#3 Know what you want

You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and really-wants. A good place to start is the “HUD Wish List,” which is available online for free at http://www.hud.gov/buying/wishlist.pdf

#4 Account for hidden costs

In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:

Get estimates for any repairs or remodeling it may need.
Estimate how much it will cost to maintain (gas, electric, utilities, etc.).
Determine how much you’ll pay in taxes monthly and/or annually.
Learn whether there are any homeowner or development dues associated with the property.

#5 Get an inspection

Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage or faulty systems.

#6 Evaluate the neighborhood and location

When house hunting, it’s easy to become overly focused on the number of bedrooms and bathrooms, the condition of the home and its amenities while overlooking the subtleties of the surrounding neighborhood. Take time to check crime reports, school options, churches and shopping. If schools are a key factor, do more than simply research the statistics; speak with the principal(s) and chat with the parents waiting outside.

SELLERS:

#1 Avoid becoming emotional or sentimental about the sale

Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to successfully price, prepare, and market the home.

#2 Fix problems (or price accordingly)

Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale-cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.

#3 Don’t overprice your home (and/or refuse to negotiate)

Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area, and trust those results.

#4 Use quality photos

The vast majority of prospective buyers today search for homes online first. In order to make a good first impression, you need a wealth of high-quality photos of your home and surrounding grounds. You may also need to consider professional staging in order to position your home in the best possible light for prospective buyers.

For Buyers & Sellers • Fort Collins Real Estate • Northern Colorado Real Estate • Windermere Real Estate • May 8, 2018

Love Letters: How to set yourself apart in a seller’s market

by Windermere Windsor

Love letters are a lost art form, in romance and home buying. Yes, home buying. If you’re a buyer and you want to set yourself apart from other buyers, you might want to state your intentions clearly by declaring your abiding love for the seller’s home in a letter. Here are a few tips for writing a love letter that works (for love letters of a romantic nature, you’re on your own).

Consider what about the home makes it your dream home. Do you see yourself raising a family there? Do you have a special attraction to the architectural/design style? Does the home evoke a sense of nostalgia? Consider your emotional reaction to the home. Many sellers are emotionally tied to their homes, and they often want others to see value in the things that make the home appealing and unique.

Share your home-buying journey. Whether you’re buying your first home, upgrading to something larger, or seeking a place for retirement, those personal stories can help a seller empathize with you.

Share commonalities. If you have any information about the people selling the house, share what you have in common. This could be anything from children to hobbies.

Show, don’t tell. If you can, paint a picture of what your life will be like when you live there. For example, “I can imagine pancake breakfasts with our two children in the lovely kitchen.” If the seller has had similar experiences, continuing those traditions may be important to them.

Don’t over-compliment the seller. A love letter should be an authentic message about your interest in the home. A seller can tell if you’re genuine, so keep your compliments sparse and real.

Keep is short and simple. Your love letter should be a sonnet, not a novel. Keep to the point and try to remain under 200 words.

Show stability. You might find yourself bidding against all cash buyers or people willing to pay more than you are. Your letter may set you apart from the competition emotionally, but don’t forget to share that you’re a financially viable candidate. Also, if you have unique (and strong) resume attributes, consider including a couple of key points. You never know what might draw the seller to you.

Don’t point out flaws or improvements to be made. Even when you’ve found your dream home, you may still have plans for improvements. This is not what sellers want to hear. Make sure not to point out the household flaws, or renovations you will make once the ink has dried. This could sour the seller to your overture.

Consider a multi-media love letter. Last year, a Windermere agent helped his client purchase the home of her dreams. She was a violinist and the home she desired required a certain acoustic quality. He followed her through the home while she played in different rooms. When she sent this video to the sellers, it helped set her apart from other buyers bidding on the home.

Be professional. While this is a love letter, and somewhat emotional, it is also a part of a business transaction. Do not be overly familiar. Remember to format, address, and copy edit your letter as you would with any other business correspondence.

If you are submitting a love letter with your bid, make sure to consult your agent. They may have inside information about the people selling the home through their connections with the selling agent. Your agent can advise you if your letter is appropriate and what information it should contain.

In a competitive seller’s market a love letter will not always work, but as in love, it is always worth a try. Here are some samples of love letters.

For Sellers • Fort Collins Real Estate • Housing Trends • Northern Colorado Real Estate • Windermere Real Estate • May 7, 2018

Increasing Your Home’s Curb Appeal

by Windermere Windsor

First impressions are extraordinarily powerful, and your house is no exception. When others approach it for the first time, does it strike them as clean, inviting and well maintained? In real estate, these all-important qualities are known as “curb appeal.” If you plan to put your home on the market, or simply want it to look its best, here are some ideas that will ensure your home makes a positive first impression.

Clean, clean, clean

Start by cleaning and tidying your driveway, walkway, front yard, and front porch. Pressure washing can make concrete and aggregate surfaces look like new; pressure washers are also ideal for cleaning stains from gutters and removing moss from patios and decks.

In your yard, keep the grass neatly trimmed, and edge your paths and walkways for a meticulously groomed look. Keep the beds weed-free, and trim trees and bushes as needed. Remove and replace any dead or struggling plants. If you are selling your home, it’s a smart investment to have a professional gardener make things picture-perfect, and then you can maintain the look yourself.

On your front porch, remove any cobwebs and sweep away all traces of dirt, leaves and pet hair. Clean your light fixtures and bulbs, and be sure your windows are sparkling clean. Wipe down your front door and polish your door hardware.

Repair and update

Fix or replace loose latticework, gently tap down nail heads that have worked loose from your siding or decks, and ensure that downspouts are attached and secure. It might make sense to replace and outdated front door, or at least five it a fresh coat of paint and update the handle and kick plate. If your exterior light fixtures were fashionable 25 years ago, they’re undoubtedly out of date now. Visit a home-improvement store and choose something more contemporary.

If your exterior paint is in good shape, light pressure washing will make it look almost new, and a fresh coat of pain on just the trim and shutters can provide a quick facelift. On the other hand, shabby paint dramatically devalues a home. If repainting is necessary, use a mainstream color that fits in with your neighborhood.

Keep it simple, clean and classic

If your home is on the market, be ruthless with clutter. Remove anything that distracts from the home itself, including children’s toys, bicycles, garden hoses and tools. You want your home to appeal to as many people as possible. When potential buyers step onto your property, they need to be able to imagine it as their own.

Create a welcoming entry

Your front porch and/or entryway provide an opportunity to make visitors feel comfortable and welcome. Beautiful pots overflowing with flowers appeal to everyone, and a trickling water feature can create a serene atmosphere. And if there’s room, a small table and chairs on the front porch are very inviting. Finally, if your doormat has worn out its welcome, it’s time to purchase a new one.

Get a fresh point of view

It can be surprisingly difficult to view your home objectively and to see it as others do. One helpful trick is to shoot photos or video; for most people, this technique helps them see their home from a fresh perspective. By all means, ask your agent for a professional opinion. He or she can give you a checklist of recommended tasks that will strengthen your home’s curb appeal.

There’s only one chance to make a first impression

Curb appeal is more important than you might imagine. We’ve seen buyers make a snap judgment before they step out of the car. If it’s a negative first impression, that’s hard to overcome no matter how nice the home is inside. One the other hand, when a home is charming and cleaned and cared for on the outside, buyers can be so positively affected that once they’re inside, they are less critical of an outdated kitchen or a small bathroom. Strong curb appeal can help cement a positive opinion.

If you have questions about getting your home ready to sell, or are looking for an agent in your area we have professionals that can help you. Contact us here.

For Buyers & Sellers • Housing Trends • Northern Colorado Real Estate • Windermere Real Estate • May 4, 2018

What is Modern?

by Windermere Windsor

content_2aefEMvv5L_ZX9N6ZGIyHShr1NnCYTGFeLQWSvwfV5Y.jpg

Sleek design, open floor plans, and great natural lighting are all appealing characteristics of modern architecture. Over the years, modern design concepts in home building have become more popular, as is the resurgence of interest in modern real estate. More companies, like 360 modern, are specializing in modern properties. Modern homes vary greatly in style; however, they have some unifying qualities that distinguish them from other properties built over the last 60 years. Here are some characteristics often found in modern homes:

Clean geometric lines: The core of modernist values is the simplification of form. Modernist homes have a very ‘linear’ feel with straight lines and exposed building materials. Furnishings and adornment reflect this value, incorporating vibrant, geometric and abstract designs.

Modern materials: Large windows are abundant in modern architecture, allowing light to fill and expand the interior space, bringing the natural world indoors. Generally all exposed building materials are kept close to their natural state, including exposed wood beams, poured concrete floors or counter tops, stone walls and stainless steel.

Modern homes are well suited for technological and green upgrades, as well including eco-friendly building materials and energy efficient practices. Flat roofs accommodate solar power. Energy efficient appliances work with the aesthetics of modern homes. Modernist landscaping need not require water-thirsty lawns, but instead can reflect local flora.

Post-and-beam structure: One classic element in modern architecture is the exposed wood posts and ceiling beams. This style of building has been around for thousands of years; however, modern homes really emphasize the structure, rather than hiding the bones behind drywall. In new modern homes the post-and-beam structure can be made out of concrete, iron or other materials. The highly visible horizontal and vertical beams reinforce the clean geometric lines of the space.

Low-pitched gable or shed roof: One of the most differential characteristics of modern homes than more traditional home design is the shape of the roof. Classic modern homes on the west coast generally have a flat or low-pitched roof, highly influenced by architect Joseph Eichler. New urban homes also leverage roof tops for outdoor entertaining space.

Open floor plan: Modern design strives to “open” the space by eliminating enclosed rooms. For example opening the kitchen and dining room into an open living space, allowing the ‘rooms’ to flow into one another.

Large windows: Natural light and the incorporation of natural elements are important aspects of modern home design. Large, floor-to-ceiling windows illuminate the open space and highlight the natural landscape. Some new modern homes have adjusted the large windows to open, diminishing the barrier between the indoors and out.

Incorporation of outdoor elements: Frank Lloyd Wright, one of the pioneering modernist architects, incorporated the natural setting into his architecture, most famously with Falling Water. Outdoor elements are incorporated into modern architecture in many ways; through large windows, landscaped terraces, and patios, and through use of natural and organic materials in building including stone walls, and more.

Minimalism: With open and connected modernist spaces, careful curation of furniture, adornments, and household objects is important to preserving the modernist aesthetic. Generally, modernist homes have art and furniture that reflects the clean geometric lines and the natural materials of the architecture, leaving less space for clutter. Minimalist philosophies of few household items that serve both form and function work well within this design and architectural style.

Home Owners • Housing Trends • Windermere Real Estate • May 3, 2018

Indoor Air Quality Basics

by Windermere Windsor

Most of us tend to think of air pollution as something that occurs outdoors where car exhaust and factory fumes proliferate, but there’s such a thing as indoor air pollution, too. Since the 1950s, the number of synthetic chemicals used in products for the home has increased drastically, while at the same time, homes have become much tighter and better insulated. As a result, the EPA estimates that indoor pollutants today are anywhere from five to 70 times higher than pollutants in outside air.

Luckily, there are many ways to reduce indoor air pollution. We all know that buying organic and natural home materials and cleaning supplies can improve the air quality in our homes, but there are several other measures you can take as well.

How pollutants get into our homes

Potentially toxic ingredients are found in many materials throughout the home, and they leach out into the air as Volatile Organic Compounds, or VOCs. If you open a can of paint, you can probably smell those VOCs. The “new car smell” is another example of this. The smell seems to dissipate after a while, but VOCs can actually “off-gas” for a long time, even after a noticeable smell is gone.

We all know to use paint and glue in a well-ventilated room, but there are many other materials that don’t come with that warning. For instance, there are chemicals, such as formaldehyde, in the resin used to make most cabinets and plywood particle board. It’s also in wall paneling and closet shelves, and in certain wood finishes used on cabinets and furniture. The problems aren’t just with wood, either. Fabrics—everything from draperies to upholstery, bedding, and carpets—are a potent source of VOCs.

The good news about VOCs is that they do dissipate with time. For that reason, the highest levels of VOCs are usually found in new homes or remodels. If you are concerned about VOCs, there are several products you can buy that are either low- or no-VOC. You can also have your home professionally tested.

How to reduce VOCs in your home

Make smart choices in building materials.

For floors, use tile or solid wood—hardwood, bamboo, or cork – instead of composites.
Instead of using pressed particle board or indoor plywood, choose solid wood or outdoor-quality plywood that uses a less toxic form of formaldehyde.
Choose low-VOC or VOC-free paints and finishes.

Purify the air that’s there.

Make sure your rooms have adequate ventilation, and air out newly renovated or refurnished areas for at least a week, if possible.
Clean ductwork and furnace filters regularly.
Install air cleaners if needed.
Use only environmentally responsible cleaning chemicals.
Plants can help clean the air: good nonpoisonous options include bamboo palm, lady palm, parlor palm, and moth orchids.
Air out freshly dry-cleaned clothes or choose a “green” cleaner.

Fight the carpet demons.

Choose “Green Label” carpeting or a natural fiber such as wool or sisal.
Use nails instead of glue to secure carpet.
Install carpet LAST after completing painting, wall coverings and other high-VOC processes.
Air out newly carpeted areas before using.
Use a HEPA vacuum or a central vac system that vents outdoors.

Prevent Mold.

Clean up water leaks fast.
Use dehumidifiers, if necessary, to keep humidity below 60 percent.
Don’t carpet rooms that stay damp.
Insulate pipes, crawl spaces, and windows to eliminate condensation.
Kill mold before it gets a grip with one-half cup of bleach per gallon of water.

We hope this information is helpful. If you would like to learn more about VOCs and indoor air quality, please visit: http://www.epa.gov/iaq/

For Buyers & Sellers • Home Owners • Northern Colorado Real Estate • Windermere Real Estate • May 2, 2018

10 Key Qualities to Look for When Selecting an Agent

by Windermere Windsor

Buying a home is one of the most significant financial and emotional purchases of a person’s life. That’s why it is so important to find an agent that can not only help you navigate the home search process but one who can also answer your questions and represent your needs from start to finish. Most importantly, your agent should care about your happiness and ensuring that you find the home that best fits your needs.

Here are some qualities to consider when selecting a real estate agent:

Likable. More than likely, you will be spending a lot of time with your agent, so look for someone that you enjoy interacting with.
Trustworthy. One of the best ways to find an agent who you feel you can trust is to ask friends and family for a referral. Another way to do this is to interview different agents and ask for client references.
Effective listener. While your agent can’t read your mind, they should be able to make educated recommendations and offer advice by listening closely to your needs. Make sure you talk to your agent about your priorities, what types of features appeal to you, as well as any factors that could be deal breakers. This will arm your agent with everything they need to help find you the perfect home.
Qualified and experienced. Make sure your agent has the qualifications and experience to meet your specific needs. For example, some agents have more experience with short sales, while others might be experts on certain neighborhoods or types of housing. Your agent should also be fully trained in contract law and negotiations.
Knowledgeable. A great agent is someone who is out in the neighborhoods, exploring communities, visiting listings, performing marketing analyses, and collecting all the information that you need to make an informed, confident decision about your real estate needs.
Honest. Your agent should be upfront and honest with you about every aspect of your home search process – even if it involves delivering bad news. The best real estate agents are more concerned about finding the right home for their clients, not just the home that brings in the fastest commission check.
Local. Every community is different and all real estate is local, so it’s important to find someone who really knows the local market and can provide you with whatever information you need to familiarize yourself with a particular area.
Connected. A well-connected agent will have relationships with lenders, inspectors, appraisers, contractors, and any other service provider you might need during your home search.
Straightforward. You want an agent who will work hard to help you find the best home, but you also want someone who will be straightforward with you about the process, the market reality, and what is realistic for you.
Committed. Your agent should be in it for the long haul, meaning that they’re looking out for your best interests every step of the way, no matter how long the process takes. The best way to find an agent with these qualities is by asking around. In all likelihood, someone within your circle of friends or family will have experiences to share and professionals to recommend. You can also search for agents based on area, so you know you’re getting someone who is knowledgeable about the neighborhood(s) you’re interested in.

Windermere Real Estate • May 1, 2018

Windermere Real Estate Hits Refresh Button on Company Brand

by Windermere Windsor

When you’ve been in business for 46 years, you learn that one of the keys to being successful is knowing when it’s time to spruce things up – and that’s exactly what we’ve done with the Windermere brand. We knew we didn’t need an entire brand overhaul, but a little facelift was definitely in order.

It all started in the spring of 2017 when we launched Windermere’s ultra-luxury marketing brand, W Collection. The development of that program and its visual identity caused us to take a step back and look at how the primary Windermere brand and all of its sub-brands worked together as a cohesive unit.

The result was a 12-month process that saw every element of the Windermere brand updated to reflect a more modern look and feel. Everything from signage to business cards, marketing materials, and the Windermere website now features our new and improved brand. For a complete look, please visit windermererefresh.com.

May 1 marks the official launch of the refreshed Windermere brand; to commemorate this major company milestone, we produced a video that visually embodies our core values of professionalism, relationships, collaboration, and community.

We’re incredibly proud of the refreshed Windermere brand and thankful that we’ve been able to serve communities up and down the West Coast for the past 46 years.

Economy • For Buyers & Sellers • Fort Collins Real Estate • Housing Trends • Northern Colorado Real Estate • Windermere Real Estate • April 30, 2018

Colorado Real Estate Market Update

by Windermere Windsor

The following analysis of the Metro Denver & Northern Colorado real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

ECONOMIC OVERVIEW

It’s good news for the state of Colorado, which saw annual employment grow in all of the metropolitan markets included in this report. The state added 63,400 non-agricultural jobs over the past 12 months, an impressive growth rate of 2.4%. Colorado has been adding an average of 5,300 new jobs per month for the past year, and I anticipate that this growth rate will continue through the balance of 2018.

In February, the unemployment rate in Colorado was 3.0%—a level that has held steady for the past six months. Unemployment has dropped in all the markets contained in this report, with the lowest reported rates in Fort Collins and Denver, where 3.1% of the labor force was actively looking for work. The highest unemployment rate was in Grand Junction, which came in at 4.6%.

HOME SALES ACTIVITY

In the first quarter of 2018, there were 11,173 home sales—a drop of 5.6% when compared to the first quarter of 2017.
With an increase of 5.3%, home sales rose the fastest in Boulder County, as compared to first quarter of last year. There was also a modest sales increase of 1.2% in Larimer County. Sales fell in all the other counties contained within this report.
Home sales continue to slow due to low inventory levels, which were down 5.7% compared to a year ago.
The takeaway here is that sales growth continues to stagnate due to the lack of homes for sale.

HOME PRICES

Strong economic growth, combined with limited inventory, continued to push prices higher. The average home price in the markets covered by this report was up by 11.7% year-over-year to $448,687.
Arapahoe County saw slower appreciation in home values, but the trend is still positiveand above its long-term average.
Appreciation was strongest in Boulder County, which saw prices rise 14.8%. Almost all other counties in this report experienced solid gains.
The ongoing imbalance between supply and demand persists and home prices continue to appreciate at above-average rates.

DAYS ON MARKET

The average number of days it took to sell a home dropped by three days when compared to the first quarter of 2017.
Homes in all but two counties contained in this report took less than a month to sell. Adams County continues to stand out where it took an average of just 17 days to sell a home.
During the first quarter, it took an average of 27 days to sell a home. That rate is down 2 days from the fourth quarter of 2017.
Housing demand remains strong and would-be buyers should expect to see stiff competition for well-positioned, well-priced homes.

CONCLUSIONS

This speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. In the first quarter of 2018, I have left the needle where it was in the fourth quarter of last year. Even as interest rates trend higher, it appears as if demand will continue to outweigh supply. As we head into the spring months, I had hoped to see an increase in the number of homes for sale, but so far that has not happened. As a result, the housing market continues to heavily favor sellers.

For Buyers • Fort Collins Real Estate • Northern Colorado Real Estate • Uncategorized • Virtual Tour • Windermere Real Estate • April 27, 2018

Well Cared for Townhome in Provincetowne

by Windermere Windsor

You don’t want to miss this Windermere Certified Listing! This well cared for townhome in Provincetowne offers an open floor plan with the laundry room on main floor. A large master bedroom offers a walk-in closet. This home does have income restrictions, please contact Stephanie Woodard for your private showing at 970-215-2676 for more information or click the link below for more details.

https://windermerewindsor.com/listing/77397177

Northern Colorado Real Estate • April 27, 2018

Under $300,000

by Windermere Windsor

If a real estate buyer walks into one of our offices in Northern Colorado and tells us they are looking for a single-family home under $300,000, unfortunately there will not be many properties to choose from. Depending on where they are looking the choices may be very limited.
Here is a list of the number of single-family homes currently for sale (excluding manufactured homes) in Northern Colorado:

Fort Collins = 0
Loveland = 7
Windsor = 0
Wellington = 0
Timnath = 0
Greeley = 27
Evans = 8
Milliken = 2

If our active market has you thinking about investing in real estate in Northern Colorado. Check this out…

Grab a copy of our Investment Kit so you can see the simple steps to get started without stress or complication. Email us at colorado@windermere.com and we will send you a video which clarifies the process and our Investment Checklist so you can see what to do first.