Are you ready to buy a fixer-upper? There are a few things you need to take into consideration before answering that question. Want to Buy a Home? Search All HomesWant to Sell a Home? Get a Home Value ReportAre you ready to buy a fixer-upper?To answer this question, you need to understand what you’re getting into, because unless you’re just repainting and replacing the carpet, this kind of project takes a long time. That’s why, before you begin the process, you should talk with your Realtor so you both know what you’re getting into.Shopping for fixer-upper is sort of like shopping for another home, but with a few key differences. The homes you look at should have enough equity in them so that you can spend money on them without over-improving them. Also, anytime you buy a fixer-uppers, whether you plan on staying in the home or not, you need to make sure you’ll be able to get your money back when you sell it. You make your money when you purchase the fixer-upper, so keep an eye out for estate sales, foreclosures, or listings that were once rentals and are now a little rough around the edges.Before you buy anything, though, you need to do your due diligence, and it’s a good idea to talk to a contractor during this time. There’s a lot of research involved in this process, and you need to be able to estimate the repair costs of each house and price out the materials (flooring, paint, etc.) needed for those repairs.  “Shopping for fixer-upper is sort of like shopping for another home, but with a few key differences. ”I’ve seen home renovation projects nearly ruin marriages, so make sure you have the necessary time to devote to this type of project. If you’re a working professional, you probably won’t have time to fix up the property all by yourself, so you should consider hiring a contractor to do the work.If you’re able to do the work yourself, you can build up a lot of sweat equity, but you need to know your skill level before you dive into it. Sometimes people get in over their heads and end up stuck with a neverending rehab project. Either that, or they’re forced to sell at a loss.When it comes to financing your purchase, there are some great loan options available out there. The FHA 203(k) and FHA 203(k) streamline loans, for example, will finance the purchase of the property and the work involved to fix it up. There are also various conventional loan products that do the same thing.I have a background in construction management and have flipped many homes myself, so if you have any questions about this topic, don’t hesitate to reach out to me. I’d love to help you get started.

Colorado Springs Real Estate Podcast with Jason Daniels

Knowing When You’re Ready to Buy a Fixer-Upper

You can’t time the market—when you should buy or sell depends on your personal situation. Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for saleWhether you’re a buyer or a seller, it’s not possible to time the market. You can only tell if a market has gone up or down about six months after it’s already been where it’s been.How do you know when the best time is for you to buy or sell? The answer to that question is based on your family and housing needs. Obviously, you want to buy low and sell high if you can, so depending on your circumstances, you should meet with a Realtor or a lender and get their input on your situation.If you’re a buyer, it’s not just home prices that affect your decision—you have to take into consideration interest rates too. If prices are going up but interest rates are staying the same, it’s better to buy now because if both of these things start increasing, it will make things even more expensive for you. Most likely, you’ll need a mortgage to purchase a home, so keep an eye on both of these variables.“I recommend making your buying or selling decisions based on your family and housing needs. ”As far as what’s the best season of the year to sell, every month is a good time to sell as long as you have the right Realtor and the right marketing plan. We sell a lot of homes during the summer, but sometimes the homes sold in winter do so at a higher average price. In the summer, you deal with more tire kickers, while the winter brings out more serious buyers. Specifically, the end of January through March and the month of June are the times of the year when you can typically sell your home for more.If you’d like to have a conversation about when the best time would be for you to buy or sell a home, don’t hesitate to reach out to me. I’d love to speak with you.

The Question of Timing the Market

How can you buy and sell a home at the same time? Today I’ll walk you through your options.Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for sale“How do I buy and sell a home at the same time?”This is a quandary a lot of our clients get really stressed about. However, we’ve walked hundreds of clients through this process, and so today I’ll give you some guidance on how to navigate this type of transaction.Many people can’t afford to buy the next home until they sell their current one because all of their equity is tied up in it. This is a barrier, but not an insurmountable one. There are a couple of different ways to approach this scenario:1. Sell first, then place a contingent offer. Typically, this is the easiest option: First, we list your home and get it under contract, then we go shopping for another home. Once you’ve located the home you want to buy, we’ll write a contingent offer on it, which means that your offer to purchase the home is contingent on the sale of your current one. That way, you won’t have to worry about losing your earnest money on the new home, especially if the deal falls apart.Back when the market was getting tight, many sellers didn’t want to accept contingent offers. If there are multiple offers up for grabs, they’d typically choose a non-contingent offer. Today’s market, however, is more of a level playing field—if you’re willing to make a decent offer, sellers are willing to accept a contingent offer, so long as your current home is already under contract.This option also enables you to move only once between homes. You won’t have to put your belongings into storage as you wait to purchase a home to move into."We’ll take a look at your individual situation and assess what options will work best for you."2. Pull equity from your current home to buy the second home.  If you have the ability to tap into the equity of your current home, you can actually apply for a line of credit, also known as a bridge loan, that will let you use the equity from your current home to serve as a down payment on your new home. Of course, you’d have to qualify for both mortgages, which can be a little risky, but you can contact us if you have any questions about that.The great thing about this method is that if you have lots of children and/or pets, you can move into your new home without having to worry about scheduling showings for your old home while you still live there.When you’re our client, we’ll take a look at your individual situation and assess what options will work best for you. If you have any questions, please feel free to reach out to us. We’re here to help!

A Guide to Buying and Selling a Home At the Same Time

Staging your home can help it sell quicker and for more money, and there are two ways you can stage it. Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for saleAs a home seller, you should know that staging your home can help it sell quicker and for more money. In fact, NAR statistics show that staged homes sell for 17% more on average. Other studies show that staged homes sell twice as quickly as well. That being said, there are two ways a home can be staged: One is by leaving it vacant with no furniture, and the other is by having a professional stager declutter and arrange the furniture. If you list your home with our team, depending on which marketing package you use, we have a certified, professional home stager stage your home room by room. "NAR statistics show that staged homes sell for 17% more on average."We also have a list of staging tips we give all our seller clients during our first meeting. If you’d like a copy of this list, get in touch with us and we’d be happy to send you one. You don’t have to follow your home stager’s advice, but the statistics don’t lie—it really does make a difference. If your home is vacant and it’s at or above the $400,000 to $450,000 price range, we recommend that you at least stage the kitchen, living room, and master bedroom. These are the key areas people will try to imagine where their furniture will fit, so having furniture in there will help them do this. If you’d like to know more about staging a vacant home or how to stage a home with existing furniture, feel free to give us a call or send us an email. We’d be happy to help you.

Yes, You Should Stage Your Home—Here’s Why

If you’re thinking of selling your home this spring, there are a few ways you should start preparing now.Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for saleSpring is one of the best times of year to sell your home, but what can you do to ensure your sale is as successful as possible?To fully maximize your listing’s potential, there are a few key preparations you must make before putting your property on the market. First, spruce up your curb appeal. You only get one chance to make a first impression, so make it count. Keep your lawn trimmed, have your bushes and trees looking neat, and add strategic pops of color by putting potted flowers along your walkway or near your door. You’d be amazed what a difference a little fresh mulch can make.The next step you should take is to clean and declutter. Not only will this make your home look better but, it will also help you get a jumpstart on the packing process. If you don’t have time to clean yourself, or if you just want to make sure the job is done correctly, you can always hire a professional. "You’d be amazed what a difference a little fresh mulch can make."After this, you should touch up your flooring and walls if necessary. Dings and scratches in your drywall should be patched, and fresh paint should be applied as necessary. Make sure to stick to neutral colors, though, as this will appeal to the widest range of buyers. And speaking of appealing to buyers, make sure you put away any pet-related items. Though we all love our own four-legged family members, not all buyers do. That huge cat tree you have in your living room could be a major turnoff for potential buyers, so it’s best to put such items away. Of course, every home is different. If you have any questions about how to prepare your home, specifically, we’d be happy to come visit for a free consultation. Then, if you decide to continue working with us, our team’s home stager will take your property to the next level. If you’d like more information or would like guidance on any other aspect of the real estate process, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Get Your Home Market-Ready for Spring

Buyers often wonder, “What’s the magic number of homes I should see before I make a decision?” Today I’ll be answering that and more.Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for saleI’m very accustomed to hearing this question from buyers: “How many homes should I look at before I make a purchase?” The answer often hinges on market conditions and the specifics of a buyer’s situation.Buyers haven’t had the luxury of high inventory levels these last few years, and with the sparse availability of homes, we’ve seen buyers submit an offer on just a single home without viewing any others, out of immediate need. I’ve been in this business long enough to remember when we had a glut of inventory and buyers who aspired to see 70 homes. This, of course, is too many.  "You’ll be best served to work with a competent Realtor who will devise a realistic approach centered around every detail of your situation."Plainly put, I’ve seen both extreme ends of the spectrum.  To help tackle the question of how many homes you should view, you’ll be best served to work with a competent Realtor who will devise a realistic approach centered around every detail of your situation. In this way, we’ll be able to come up with a list of needs so you’re not having to do all the work on your own. When you work with us, we’ll look at three to five homes a day to shield you from the confusion that sometimes follows from seeing too many homes in a short time. What we’ve found over the course of the last year is that the average buyer is looking at four homes and then reaching a decision. In analyzing the 10-year average, buyers have been known to look at seven to eight homes before making a choice. This look at the last decade is a demonstrable sign that if we, as agents, are listening to your needs, you shouldn’t be looking at an inordinately high number of homes. Our job is to come up with a strategy that narrows down potential purchases for you to make the most informed choice possible.   If you have any questions about the home buying process or any other real estate-related topics, please reach out to us. We’d love to hear from you!

How Many Homes Should I View Before I Decide to Buy?

Should you sell your home in winter? Today I’ll talk about the pros and cons of listing your home during the cold months.Selling your Colorado home? Get a free home value report  Buying a Colorado home? Search all homes for saleWe hear this question a lot from sellers. They’d really like to move in the wintertime, but they’ve heard rumors that the market is just better in the spring and summer and that you’ll get more money.That can be true in some cases, but not always. When asked this question, we always tell our clients that they should sell the home when it’s right for them given their unique situation, whenever that may be. If you try to time the market, you may get burned, or it may cause stress in other areas of your life—it’s never totally a safe bet.Contrary to popular belief, we sell a lot of homes in the months of November, December, and January, and people are still buying them. In fact, I knew a broker years ago who did a six-year study; I’ve run the numbers again recently, and the stats still hold true. We looked at the number of home sales that occurred in the months of June, July, and August, and then compared them to homes that sold in November, December, and January. This is what we found: Only 9% of the homes active on the market were actually selling in the summer months, whereas in the winter months, 14% of the homes on the market sold. That means that 5% more homes sold in the winter than in the summer."Contrary to popular belief, we sell a lot of homes in the months of November, December, and January."There are a couple of reasons for that trend. Many homes are put on the market in the summer to test the market out, and there are a lot more buyers during that time. So do more homes sell during the spring and summer? Yes, but your odds are better if you sell in the winter.Some people want to take the holidays off so they don’t have to deal with people walking through their home, and that’s okay. If you need to sell your home, we’ll get it done whenever is best for you. However, if you do want to list in the spring, it’ll be better if you start now so you can begin preparing and staging your home before the frenzy begins.If you have any questions, don’t hesitate to reach out to me. We hope to hear from you soon!

Selling Your Home In the Summer vs. the Winter

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Jason Daniels- your professional Colorado Springs Real Estate Agent.

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Colorado Springs Real Estate Podcast with Jason Daniels

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