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Colorado Springs : Real Estate Advice

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  • Local Info50
  • Home Buying145
  • Home Selling43
  • Market Conditions22

Activity 250
Sun Jun 12, 2011
Jerry Cecil answered:
Vickie,
10% down payment is the standard on a residential home. There are many programs that can get you in a home for lower than 10%. If the area you buy in qualifies for a USDA loan, the down payment could be 0%. Usually, a lender will want to see at least a few years after a foreclosure before you buy again.
Talk with a mortgage consultant for all of your options. A mortgage consultant will normally offer you a free consultation. Good luck to you
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Mon Sep 3, 2012
Craig Mcconnell answered:
Has your home sold in Maryland yet? If you are still coming to the Colorado Springs area, we would love to help you out with finding a rental or your next home! Please give us a call anytime! ... more
0 votes 1 answer Share Flag
Wed Jun 8, 2011
Michael Emery answered:
Everything is salable....at a price.

If you are attempting to sell for more than the current market value, then no one - including a management company - would be willing to purchase as they would incur a loss. And an investor like a management company would probably pay even less than a traditional buyer. ... more
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Thu May 19, 2011
Gerard Carney answered:
You pay nothing for having a Realtor help you buy your property. The commission is built into the price of the listed home. As far as spread sheets for profit and investment, there is only one formula for calculating the profit on investment so I have no idea what spread sheets you are going to invent. You will not receive any of the commission set in the price, unless you are a licensed agent other wise it goes to the listing agent as unshared commission!. YOU WILL NOT RECEIVE ANY COMMISSION, if there is no buy agent for the buyer side then the listing agent will receive all of the commission as was the agreement made between the broker and the person listing, the buyer has no power over the commission mainly because the commission was agreed upon long before the home ever went to contract. The State says not the Department of Justice, this is a matter of contract not a criminal matter. You Will not receive any commission, mainly because the listing contract allows only for another licensed agent to share as a selling agent or the whole amount is the listing brokers. ... more
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Thu May 5, 2011
Tim Moore answered:
You need to talk with a lawyer for sure. If you really had a binding contract then I would think you have a case for a suit, but an attorney needs to review the documents to be sure. Every court room has two opinions. How do you know it was a cash buyer? Was it listed in the MLS by a Realtor and did that Realtor know this or was it a FSBO? ... more
0 votes 4 answers Share Flag
Sun May 15, 2011
Robert Spinosa answered:
Matt,

I am reminded of Hannibal's words: "We will either find a way or make one."

Keep the faith,

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes 12 answers Share Flag
Sun May 1, 2011
Tim Moore answered:
Banks not being honest and providing good help with government programs. STOP, you're going to make me stop believing in the Easter Bunny next.
0 votes 5 answers Share Flag
Mon May 2, 2011
Anna M Brocco answered:
In order to best protect yourself and any other assets you have, do consult with an attorney before making any decisions...if hardship can be proven to the lender, a short sale may be an option over foreclosure, however if worried about your credit, it will be affected....again, consult with an attorney. ... more
0 votes 14 answers Share Flag
Sat May 14, 2011
Kevin Olson, Jessica Laude answered:
There is a whole lot of wrong in here, and I'm trying to keep from screaming at my computer "DONT DO IT!". Normally our answers aren't like this, but you've got to take a step back and look at this. There are so many things that could go wrong, and although 80906 is appealing you could be risking not being able to be in 80910 if things don't go as planned in the future. I could go on forever here as to why to not do it, but you have to have that feeling inside of what a risk this is. Please call Jessica or I to talk about this scenario. There could be things that aren't in your question that might make it a little brighter, but that's an awfully dark place to be trying to light up. ... more
0 votes 10 answers Share Flag
Wed May 25, 2011
My NC Homes Team answered:
Absolutely. When my client gives me thier list of homes they want to view, I pull them up and look at them on a mapping program to see where they are in relationship to one another and then figure out the most sequential route. With gas prices like they are and my time being valuable it only makes sense to do it this way. ... more
0 votes 11 answers Share Flag
Fri Apr 22, 2011
Suzanne MacDowell answered:
I almost never offer my opinion of the home right away. I let my buyers tell ME what they think. Then, after I know what their thoughts are, I may offer a word of caution here or there or ask questions that compare this particular home to the others we have seen. It gives me a much better idea of what the buyers want. And that is what matters. It's not about ME, it's all about my clients. ... more
0 votes 16 answers Share Flag
Thu Apr 14, 2011
Phil Rotondo answered:
Sun Castles has a great floor plan. Open the front door to the in-ground pool.
0 votes 2 answers Share Flag
Sun Aug 25, 2013
Valpo2003 answered:
More details to my question...

My dad is willing to help me out with this. He is willing to put his name on the loan and I pay him back. He currently has a home in Arizona. Can this be done? ... more
0 votes 21 answers Share Flag
Wed Apr 27, 2011
Pamela Weatherford answered:
I love showing homes anytime. I love my job and I love seeing homes. Although if the roads are bad I prefer to stay home :0)
0 votes 10 answers Share Flag
Thu Feb 26, 2015
Marie Souza Team answered:
Ryan - Contact a local Real Estate Agent. They can help point you in the right direction on these questions. They will most likely have a program that will let you search online for community reports, school information etc. If you have a specific area that you are interested, call the local Police department for that town. They can also be a great resource!
Good luck!
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0 votes 13 answers Share Flag
Thu Apr 14, 2011
Phil Rotondo answered:
Tue Jan 29, 2013
Francis J. Paulick answered:
Are you going to bid at the Wed auctions at the courthouse or online? If you bid at the courthouse, you have to bid higher then the banks offer which you should know.
0 votes 9 answers Share Flag
Wed Oct 16, 2013
Sue answered:
My question has been posted here since March 25th! Does anyone have an opinion out there???
0 votes 3 answers Share Flag
Wed Mar 23, 2011
jo answered:
Tracy, your not asking Trulia when you posted your question, your asking the agents by posting here...
0 votes 0 Answers Share Flag
Wed Jan 22, 2014
Kevin Olson, Jessica Laude answered:
Colorado Springs is at the highest it has ever been in terms of rental occupancy. I believe your idea sounds good, as long as you realize that our market here did not take as large of a hit, and prices won't take that much of a bouce back. There is no guarantee as to what the future holds in any market, so make sure you will be able to handle both properties in case it isn't simple to sell the home you are currently living in over the next few years.

Typically I put 20-25% down depending on the lender to avoid PMI, and then like to see at least a 20% return above the mortgage payment. This will ensure 2 extra house payments per year should I choose to use the profit in that manner. The formula depends on your security and what makes you comfortable. Powers is a great area to own a rental, and with all of the troops coming in it should be easy to fill in the coming months.

Please let us know if you need any help. We provide free buyer representation and a 1 year home warranty.

Thank you,
Kevin & Jessica
Higher Living Team
719-799-3686
kevin@liveinsprings.com
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