Julie Montgomery's Blog

Nothing, zero, nada … Buyer’s Agency is FREE in Colorado.

If you’re planning to buy a home in the Denver Metropolitan area, you can “hire” a professional Buyer’s Agent at no cost to ensure your best interests are represented during a real estate transaction.

Realtors are always paid by the Seller, who hires a “Seller’s Agent” to help them with the sale. In the past, Realtors were all “agents of the seller,” but in 1995, Colorado created “Buyer’s Agency,” which gives the buyer the same privilege, but at no cost.

What can a Buyer’s Agent do for you?

If you’d like to know more about "Buyer's Agency" and what it means to you, call Julie Montgomery at 303-906-3150 or email juliemontgomery@remax.net. My services are FREE of charge & without obligation or pressure. I would love the opportunity to help you locate, purchase and serve as your advocate for the purchase of your next home.

FHA Loans
With a Short Sale, the seller(s) must wait two years from the sale date before they can obtain a new FHA mortgage.

With a Foreclosure – the seller(s) must wait three years from sale date

Conventional
With a Short Sale, the seller(s) must wait 4 years before they can obtain a new conventional loan. 

Foreclosure – theseller (s) must wait four years, in some casees as 7 years , depending on the bank.

The question, "Should I sell now or rent for a few years until the market comes back" is a question I'm asked at least three or four times a week.

I can't speak for the rest of the country, but in the Denver Metropolitan area, if you choose to rent, be prepared to be a landlord for a long time ... at least 7 to 10 years. Why?

The truth is the market may never come back to the overinflated prices we've seen over the past 10 years, especially with homes that were sold directly to buyers by builders.  The "bubble" has most certainly burst ... what we're seeing in today's real estate market is not a "temporary" drop -- it is, in fact, a permanent correction.

Though no one likes to hear it, your home IS probaboy worth less today.  The good news is so is the home you've been wanting to buy -- if it's larger, it's probably worth a lot less in today's market.

The market will expand again at some point, but it's a simple case of "supply and demand." Right now there's a tremendous amount of supply and not very much demand. That will not change anytime in the near future.

When making the decision, ask yourself this question:  "I'm I better off to sell now and collect my equity or should I wait 10 years and hope things improve?"  In addition, be honest and think about this ... do you really want to get repair calls at all hours of the day and night?  What happens if your renter won't pay the rent?  In most cases, my advice is to take the money you have a run!!

Julie Montgomery, RE/MAX Masters, Inc., 303-906-3150, juliemontgomery@remax.net, littletonhomesrealty.com

Despite the "Doom & Gloom" we hear daily about today's real estate market, the bottom line is it is NOT difficult to sell your home quickly and for top dollar.  The key is your home must be "prepared" to sell before it's introduced to the market.  The system I've successfully used for the past 10 years is called the "Four P's," and I guarantee the results ... in writing.

1. Preparation:  the first step toward a successful sale is "preparing" your home to sell beforeintroducing it to the market.  If your appliances, furnace or roof are older than 10 years, have them pre-certified to avoid costly expenses during the buyer's inspection.  This simple step will save you $1000s in costly "surprises" once your home is inspected, and you can advertise with confidence knowing everything is in good working order.

2.  Presentation:  though there are a lot of "houses" for sale, there are very few "homes."  In order to sell your "home" quickly and for top dollar it must have the "WOW Factor" demanded by today's ultra-picky buyers.  In other words, your home must stand out from the crowd.  Though it doesn't apply to every home, upgrading before introducing your home to the market pays HUGE dividends.  My motto is if you're going to spend a nickel, make sure you receive a dime in return. Staging and "affordable" updating are included in my marketing plans for your home.

3.  Price:  If you have No.1 and No. 2, you can push price, but not too far.  Price is a very simple formula a bank's appraiser will use to determine market value once your home is under contract.  Though there are variables, simply put, market value in today's real estate market is determined by comparing your home to other "comparable" homes that have sold within the last six months. Even if you sell your home at a higher price, if the bank doesn't approve the loan amount, your home will not close unless the buyer is willing to bring extra money to the closing table.  In today's market, pretty much "non-existent."

4. Promotion:if your home is not professionally presented on-line, which is where approximately 94% of all potential home buyers begin their search, the likelihood of selling quickly and for top dollar isn't very likely.  If you hire a realtor who comes in with his/her cell phone to take photos (seriously ...) or just their personal camera, run!  I'm not joking!  Unless these people are professional photographers on the side (which doesn't make them great candidates to sell your home), it's imperative to let professionals do the job.  I work with a company called OBEO.com. They are full-time real estate photography company, and they do an incredible job.  The cost for this and other methods I use to "promote" my listings are all part of my fee.

Again, the "Four P's" are your ticket to a quick, profitable sale in this or any market. Please contact me at 303-906-3150 or juliemontgomery@remax.net for more information today! Also, visit www.littletonhomesrealty.com, the first "interactive" real estate website of its kind to read about my Sellers "90-Day Sale Guarantee."

Julie Montgomery, RE/MAX Masters, Inc., 303-906-3150

February 9, 2011

Today’s Real Estate Update:  a picture tells a million words

If you’re like 87% of the people in the United States, you’ve probably looked at homes on line.  Let me ask you this:  what do you do if there are no photos? What do you do if the photos advertise a home in poor condition or one without updates?  My guess is you “pass.”

I surveyed 150 potential home buyers to find out how they “pick and choose” what homes they decide to see.  Here are their answers.

1.  

·     98.2% select the homes themselves based on how the photos look on line.

2.  

·     98.9% look for updated kitchens, hardwood floors and open floor plans.

3.  

·     95% said it makes no difference.

4.  

·     Only 62.7% said “yes” depending on the price.

5.  

·     98.6% say “yes”!!

Clearly, how your home shows on line plays an ultra-critical role in how quickly and at what price an enormous role in successfully selling a home in today’s market.  For your information, my listings are always staged and professionally photographed for every reason stated above.

You can also visit www.littletonhomesrealty.com for more information about my seller’s “90 Day Sale Guarantee” and “Affordable Home Staging and Remodeling” (my new company completely independent from my real estate business).

Julie Montgomery, RE/MAX Masters, Inc., 303-906-3150. www.littletonhomes.realty.com