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Showing posts from June, 2011

Have We Forgotten Something?

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by Dean Hartman

Over the past few weeks and months, the media, so-called experts and most of our friends and relatives seemed to have almost soured on buying a home at this time. With fear of a fragile economy and high unemployment rates, who can argue with caution?

When the pervasive sentiment among even real estate and mortgage professionals is that home prices will continue to move downward and that mortgage interest rates don’t appear to be jumping significantly any time soon, the question remains… “Why would anyone that doesn’t have to buy now, buy now?”

One commenter to a previous blog post even went so far as to challenge the entire industry for promoting the “hurry up and buy” approach by asserting that buyers who listened to that advice six months ago are bemoaning taking that advice. That made me think: “Are people who bought six, eight, ten months ago kicking themselves because their home is worth less now than when they bought it?”

I had my team call some of our recent buyers …

Military Discount Program

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The Mike MacGuire Team offers a great military incentive program. Why shouldn’t we? We have a huge military presence in the Pikes Peak Region. They put their lives on the line to protect the United States of America and they are a big part of the Colorado Springs economy.

The program includes cash incentives and services. Please contact me or visit http://www.militarycashback.com/ for more details.

Thanks to all the military personal for serving our wonderful country.

If you are considering Relocating to Colorado Springs, Purchasing a Home for Sale in Colorado Springs, considering Selling a Home in Colorado Springs, or want more information on the Colorado Springs Real Estate Market, Contact your Colorado Springs Real Estate Expert, Mike MacGuire Today!

Who Pays the Real Estate Agent?

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People buying a home for sale in Colorado Springs have a lot of questions. Since buyers, especially first-time home buyers have to consider the expenses that come along with their loan. Some think they may also have to consider in their expenses, paying their real estate agent. Different states and areas have different customs.

In MOST cases in our area, the seller agrees with their listing broker to pay a commission that includes a split for the Buyer's Agent or Transaction Broker working with the buyer. There are cases where the seller is a For Sale By Owner or few other instances where the seller will not pay. As a responsible agent, I notify any clients if I foresee a problem with the commission and if they will be expected to pay. This commission disclosure is included in the MLS, so agents know before showing a property. This information is not available on the public site, but can be easily discovered by members of the real estate board in the MLS.

This leads to another topic…

Top 5 Mistakes Sellers Make

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by Phoebe Chongchua

It can be a tough market for selling a home, but those conditions can get even worse if sellers aren't careful. While a seller doesn't control the real estate market, their actions can significantly contribute to how long and how much their home is sold for.

Underestimating Cleaning Up: It may seem obvious, but I can tell you real estate agents everywhere are nodding their heads in agreement as they read this. Inviting potential buyers in to see an unkempt home is like going on a job interview without freshening up after you cleaned your garage. How can the employer notice your fantastic talents and skills if they're hidden underneath a sloppy exterior? How you show your home tells the buyer what type of care you, the seller, has put into it.

If you can't take the time to wipe the grime off the refrigerator doors, tidy up the kids' rooms, take out the messy diapers, put away the food, and take the dogs out of the house for a while, then you'll…

Tips for Interviewing a Realtor

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Whether you’re buying or selling a home, ask your REALTOR®:

• Can you explain in detail the process from contract to closing?
• Specifically describe how you will represent my interests above yours throughout the process?
• What is the process you use to negotiate on my behalf?
• What is your real estate background and experience? How will it help me?
• Are you a REALTOR®? What continuing education have you committed to, and how will that education benefit me?
• Do you work in real estate full-time? How accessible are you? How can I reach you?
• For which aspects of the home buying process are you available? If you are unavailable, will someone else be available to work in your place? (presenting offers, inspections, closings, etc.)
• How will you assure that deadlines are meticulously met?

Planning to buy a Colorado Springs home?

• Tell me in detail the type of information you can gather for me about a home listed for sale that may be of interest to me.
• What type of assistance do you provide …

A Window of Opportunity for Home Sellers

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by The KCM Crew

There has been much confusion as to where housing prices are headed. We have actually blogged on the issue recently. Today, we want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in which to sell their homes for maximum price. We believe there will be increased downward pressure on home prices later this year and the first half of 2012.

Why renewed downward pressure?

Any item’s price is determined by ‘supply and demand’. In many parts of the country existing housing inventory is already high and actually increasing. In addition, an inventory of distressed properties (foreclosures and short sales) will be coming to market later this year. This inventory has been delayed for the last several months because of faulty paperwork by the banks when they originally attempted foreclosure proceedings on these homes.

Celia Chen, of Moody’s Analytics explains:

“Foreclosures are weighing on the outlook for…

Why You Need a True Professional to Sell Your Home

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by The KCM Crew

Many people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s volatile market, we believe this is an easy decision: you need an experienced professional!

You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer willing to pay fair market value for your home at a time that there are mass inventories of foreclosures and short sales will take a true real estate professional. Finding reasonable financing can also be tricky in today’s lending environment.

You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that off after a home inspection, to the possible cancellatio…

Is The Economy Worse Than We Think?

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by Dean Hartman

We are presented with conflicting data almost daily about the “health” of the economy. And I am no economist, but I believe that I do possess some common sense.

So, here’s what I have been thinking.

It is obvious that millions of people are NOT paying their mortgage, rightly or wrongly, for their own reasons:

They can’t because of a job loss, death, disability or something outside of their control.

They won’t because it makes poor financial sense as their house is underwater.

My question is that with so many people NOT paying their mortgage, how can there be an economic recovery of any fashion? And then it hits me, people who used to spend thousands of dollars every month on their housing are spending that money now on food, clothing, vacations, gasoline, cars and alike. With the lag time between the moment of not making a mortgage payment to eviction being as long as two years, it seems logical to me that the reported economic numbers have to be inflated.

As foreclosures and…

Move In Ready Home For Sale in Colorado Springs

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Home For Sale in Colorado Springs Perfect for the First Time Home Buyer, if you are Relocating to Colorado Springs, or needing to be close to Military Bases in Colorado Springs. Featuring 4 Bedrooms, 3 Bathrooms, 2 Car Garage and 1,800 + Square Feet. Tour This Home Today! The Main Level Boasts a Spacious Formal Living Room with New Wood Laminate Flooring, Perfectly Appointed Kitchen with Brand New Stainless Steel Appliances and a Large Eating Nook. Unwind in the Upper Level Master Retreat with Attached Bathroom. There are also 2 additional bedrooms and a full bathroom on the upper level. The Lower Level includes a Spacious Family Room with Cozy Fireplace and the finished basement features a recreation area, bedroom and bathroom. Spacious Backyard, Central Air Conditioning, Whole House Humidifier, Upgraded 50 Gallon Water Heater and New Exterior Paint and Roof Recently Completed. Great Location and More!

For More Information on this Home For Sale in Colorado Springs, Contact Mike MacGui…

Beautiful Home for Sale in Colorado Springs

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Beautiful 2 Story Home For Sale in Colorado Springs Backing to Open Space Featuring 4 Bedrooms, 4 Bathrooms, 2 Car Garage and 3,000 + Square Feet. Tour This Home Today! Boasting a Spacious Formal Living and Dining Room. Large Kitchen with Stainless Steel Appliances, Eating Nook and Pantry. Cozy Family Room with Gas Fireplace. The Upper Level Includes the Perfectly Appointed Master Retreat with a Luxurious 5 Piece Bathroom. 2 Additional Bedrooms and Full Bathroom Complete the Upper Level. The Finished, Walk Out Basement boasts a Family Room, Wet Bar, Gas Fireplace, 4th Bedroom and Bathroom. The Huge Back Deck is Perfect for Entertaining, Private Location and More! This Home is Perfect for the First Time Home Buyer, if you are simply moving up or if you are Relocating to Colorado Springs!

For More Information on this Home For Sale in Colorado Springs, Contact Mike MacGuire Today! If you are considering Relocating to Colorado Springs, Purchasing a Home for Sale in Colorado Springs, consi…

Financial News Icons Say Now is the Time to BUY!

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We received some tough news on housing last week. Prices are still softening. There was a lot of negativity surrounding these reports. The news caused more consumers to be concerned. However, the real question is what this means to you and your family. This could actually be great news if you are buying (either as a move-up buyer or a first-time buyer).

We don’t want you to take our word for this. Instead, here are excerpts from articles published last week by two of the country’s iconic financial publications: The Wall Street Journal and Forbes Magazine.

The Wall Street Journal: Why It’s Time to Buy

“Despite all the gloom, there are growing indications that it is a good time to buy… The long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes—a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for …

Are Home Prices Headed Up or Down?

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Here are two headlines that appeared in print last week:

LA Times: Case-Shiller Home Price Index Hits New Low

Forex: CoreLogic: Home Price Index Increased 0.7%

In the Los Angeles Times story, David Blitzer, chairman of the S&P index committee, was quoted as saying:

“This month’s report is marked by the confirmation of a double-dip in home prices across much of the nation. Home prices continue on their downward spiral with no relief in sight.“

In the second article, Forex quotes Mark Fleming, chief economist for CoreLogic:

“While the economic recovery is still fragile and one data point is not a trend, the month-over-month increase based on April sales activity is a positive sign.”

The Case Shiller and the CoreLogic price indices are both very well respected. How can they come to seemingly opposite conclusions? There are two reasons for this.

1. Each Index Has a Different Lag Time

Each report is actually looking at data from different periods of time. Therefore, they are not technically com…

Should You Rent or Buy in this Market?

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Families are trying to determine whether or not now is the time to buy a home. Some are advising these families to sit out the current real estate market and instead rent for the next year or two. We do not agree with this advice. Homeownership means a lot to a family. We also realize that the financial aspects of purchasing a home today can be a concern. The challenge is any advice given by someone in the real estate community is immediately dismissed as self-serving.

For this reason, we want to give you the advice of three entities not involved in real estate sales:

Citigroup

“When we examine the relationships between mortgage payments and income and mortgage payments and rent, we see that these relationships have also reverted back to or below equilibrium points. In some cases, particularly when mortgage payments are compared to the cost of renting, home prices actually appear cheap.”

JP Morgan

“JPMorgan analysts said ‘the continuation of falling rental vacancies and rising rental deman…

Home For Sale in Colorado Springs

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Move In Ready, Beautifully Updated Home For Sale in Colorado Springs! Featuring 3 Bedrooms, 3 Bathrooms, 2 Car Garage and 1,600 + Square Feet. Tour This Home Today! One of the Largest End Units with Tons of Updates Throughout. Perfect for the First Time Home Buyer or if you are Relocating to Colorado Springs! Spacious Main Level is Perfect for Entertaining with a Large Living Room with Updated Fireplace Surround and Mantel and New Ceiling Fan. Perfectly Appointed Kitchen with Stainless Steel Appliances, Cherry Stained Cabinets, Ample Cabinet and Counter Space, New Countertops and Tile Backsplash. The Dining Area Features Updated Light Fixture and Walk Out to Patio. Unwind in the Upper Level Master Retreat Featuring a New Ceiling Fan and Luxurious Attached Bathroom with New Counters, Tile Backsplash, Sinks, Faucets, Light Fixtures, Flooring and Added Shelving. The Secondary Bedrooms Feature New Lighting and Adjustable Closet Shelving. This Home is in a Great Location with Easy Access t…