ERA Shields December Stat Pack

ERA Shields December Stat Pack

Happy Thanksgiving!

 

Fall back...Sunday, November 5th, 2:00am

Know Your Real Estate: 5 Researching Tips for Home buyers

Being a first-time homebuyer can be an intimidating prospect; it seems like there’s so much to learn! The process doesn’t get less challenging the second or third time around, but here are five tips to help you research and prepare for your next home buying experience.

Location, Location, Location

It’s a cliché but it’s true: location really is the most important part of the real estate equation. However, the right location isn’t the same for everyone. Take your family’s priorities into account and know where you would buy a home, and where you would not. Try to be flexible, but if you’re longing for a place with a yard, then a balcony might not cut it, however, a roof deck might! Always look for the exception to the rule. It’s also a good idea to compare home prices around the home that you’re considering. This will help you figure out if your house is a good deal and in line with the market expectations.

Find Your Financing

Finding the perfect house can take years, but once you find it things will move quickly. Most real estate markets are fast moving and a great house at a great price can easily go on the market in the morning and be under contract by the evening. When you find that house you have to be ready to jump on it. This means that you should have your financing figured out before you make an offer. Ask friends, family, any law or finance professionals your family uses, or ask your REALTOR® for a recommendation for a mortgage company. Be sure to get quotes from several different firms so you have a general idea of what your rates really should be.

Understand the Vocabulary

You should take the trouble to educate yourself about some of the jargon that comes with the real estate territory, otherwise, you might find yourself completely out of your league when discussing purchasing terms.

Check out the Neighborhood

If you’re looking for homes outside of the neighborhood you live in, the best way to get a feel for it is to go and spend the day there. Find a few open houses you’re interested in and go make a day of it. Have lunch, stroll the streets, check out the parks, schools, and find out what kind of people live there. These are the things that give a neighborhood its flavor, and things that you can’t know until you go there and see for yourself.

Choose a Trustworthy Agent

A real estate agent can make or break your home buying experience. If you don’t have an agent you already know and like, Call me!

Buying a home is an exciting and stressful process, but with these tips, I hope you’ll have a great experience researching, shopping and purchasing your next home.

The Most Beautiful Abandoned Places in the World

https://www.cntraveler.com/galleries/2015-11-18/the-most-stunning-abandoned-places-on-earth/2 

Perfect Fit – 3 Tips for Finding Your Ideal New Home

Moving to a new city is exciting – new sights, new sounds, maybe even a new job. Let’s not forget, however, one of the largest tasks when it comes to relocating: finding a new home. House searching can seem daunting, but not if you’re equipped with the right mindset and tools. To get you on track, we’re sharing a few home-buying tips from a recent RISMediaarticle:

Know what you want. When you’re in the market for a new home, it’s easy to get swept away with Pinterest boards full of “must-haves” and dream décor but it’s important to be realistic with yourself. Your new home should be conducive to your personality and daily lifestyle; if you’re an avid at-home cook, prioritize a large kitchen. Being able to articulate what you want and need will help your REALTOR find exactly what you’re looking for.

Do your research. Oh, the beauty of the Internet! Before you begin booking appointments to check out new living spaces, be sure to do a quick search of the area. This will allow you to pinpoint a few neighborhoods that intrigue you – and don’t forget to keep your price point in mind when searching!

Project the future. Avoid narrowing your focus on solely the here and now; a home is a great investment, and you want to treat it as such. Thinking about where you may be in five to ten years will help you pick a home that can grow with you, both in your career and your family.

When Is the Right Time to Sell Your Home?

If you are like so many homeowners today, you are not living in your “forever home” right at the moment. Rather, the home you currently reside in is a stepping stone to get you that much closer to your dream house.

It is likely you are always keeping one eye on your home and the other eye on the housing market, trying to figure out when the time is ripe to sell and move to the next home. Here’s how to know for sure when it is a good time to sell your home.

When your current home is no longer a good fit for your needs – Stepping stone homes are bought for a specific reason at a specific time in life. Maybe you moved because you are expecting a baby and needed more room. Conversely, maybe your “baby” just went off to college and suddenly your formerly cozy home feels like an echoing cavern. Perhaps you just got a job on the other side of town and the commute is killing you, or now you work from home and you discover you hate your neighborhood. Regardless of why, when your home no longer works for your situation in life, this is a clear sign it is a good time to think about selling.

When the market favors the seller – If there is one thing you can count on the real estate market to reliably deliver, it is shifting trends. Some years, it will be a buyer’s market and in other years, it will be a seller’s market. If you’ve been feeling like a move might be welcome and the real estate market just happens to be favoring sellers at the moment, you might as well throw your house in the ring and see what you reel in!

Your mortgage is paid – Once your mortgage is paid off in full, every dollar you earn over what you paid for it is pure profit. Very few people in this country today get to enjoy the great feeling of being debt free, but if you sell your home after it is paid off and pocket the profits, you can be one of them.
 
Your current interest rate is high – Right now, interest rates on mortgage loans are at historic lows. If you are currently carrying a mortgage on a home that has a high interest rate attached (and especially if a refinance won’t fix this adequately), then now is a good time to sell.

At this point in time, real estate is scarce and homes are in demand. Interest rates are low and the market is strong overall. Whether you choose to sell and just rent for a while or you decide to turn around and buy another home at a low interest rate, it is a win-win to sell and get out of that higher rate.

Every single day, homeowners become former homeowners for all kinds of different reasons. There are no invalid reasons to sell your home; there are only the reasons why now is the right time for you.

This was originally published on RISMedia’s blog, Housecall. 

Energy-Efficient Mortgages: What to Know

Home buyers, have you ever heard of a “green mortgage”? If you’re looking to save cash while helping preserve the environment, an energy-efficient mortgage (also known as EEM,) may be something to consider. A recent article from REALTOR Magazine shares the ins and outs of the green mortgage lending process, how to improve your home’s energy efficiency and more. We’ve pulled out some of the key insights for you here:

• WHAT: An energy-efficient mortgage allows buyers to fold expenses for energy-saving home improvements into their mortgage.
• WHEN: EEMs are an option if you’re buying or building a home and you want to add energy-efficient features, if you’re refinancing a mortgage for a home you already own and want to add energy-efficient renovations, or if you’re buying a new home that is already energy-efficient.
• WHY: The idea is that, in the long run, the money saved on monthly utility bills will offset the higher mortgage payment. The projected energy savings from the lower bills could also qualify buyers for a larger loan amount and a better, more energy-efficient home. And at the point of resale, homeowners will likely benefit again, as the energy upgrades can boost the home’s value and attract buyers in a competitive market.

What do you think? Would you consider a “green mortgage”? Let me know if I can assist with contacts or additional information on this subject. 

Open House August 5, 2017 from 1-3pm!

More of the same expected in the second half of 2017!

Colorado Springs' single-family housing market in the first half of 2017 looked a lot like it did last year: strong in some areas, red hot in others - but not without problems.

On the plus side, the pace of Springs-area home building in the first six months was on par with 2016, when construction soared to a 10-year high.

Existing homes, meanwhile, were being sold at a record clip in the first half and fetched record-high prices. And foreclosure activity continued its steady decline, which also signaled the housing market's recovery.

"It really just continues to go through the roof," Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum, said about single-family home sales and prices.

Follow link below to read the rest of this great article:

http://gazette.com/more-of-the-same-expected-in-the-second-half-of-2017-for-colorado-springs-hot-housing-market/article/1607646

American Lifestyle Magazine Issue 84, Volume 1

http://digital.remindermedia.com/donna-hatch/issue-84-vol-1/2/

Buyer in a Sellers’ Market: How to Stay Competitive

It’s no secret that much of the country is currently a sellers’ market, but how can you help your buyers stay strong in this competitive landscape? REALTOR Magazine online recently shared five tips for doing so, all of which are easy for you and your clients to adopt if you haven’t already.

Two tips, in particular,

stood out to us as key:

• “Identify home wants versus needs: Buyers likely will need to compromise on their wish lists when competition is tight. For example, buyers may have to compromise on amenities like stainless appliances or hardwood flooring, which can always be added later. ‘However, if a buyer wants to be in a specific school district or have a decent-sized backyard, those cannot be addressed later and must be taken into account during the house hunting process,’ according to NAR’s tip sheet for buyers.”
• “Make bids competitive: A low offer as a starting bid won’t likely work in a seller’s market. Buyers need to be ready to put forward their highest offer from the beginning or they may lose the home. In multiple bidding situations, the highest offer doesn’t always win either. But the bid with the fewest contingencies often becomes the most attractive to sellers. ‘Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller,’ NAR notes.” 

For more on this and any other questions, you may have- email me at dhatch@erashields.com

Home Renovation Projects with the Best ROI

Many people are interested to know what kind of return on investment they can expect when upgrading certain items in their homes and which items they should prioritize first. This is especially relevant when selling their home or investment property.

When it comes to house sales and particular rooms, the kitchen is often the room that will make or break a sale. Kitchen projects that are budgeted between 6-10 percent of the total home value will see the highest ROI. Putting your finances into kitchen upgrades is a worthwhile endeavor when it comes to optimizing your home for selling purposes.

The top five projects to prioritize when it comes to the best return on investments are: replacing the entry door, installing a new fireplace, remodeling the kitchen, converting the attic into a bedroom, and replacing the exterior siding or cladding.

For an illustrated look at the best projects to focus on when renovating your home, contact me at dhatch@erashields.com

2017 Local Farmers Markets

Spring Forward!

An illuminating look into kitchen decor.

An illuminating look into kitchen decor.

55 Kitchen Lighting Ideas That Make an Impact

Go beyond track lights and fluorescent fixtures with stylish options that make a statement.

HOUSEBEAUTIFUL.COM

Mortgage Rates: Keep Them in Perspective

The thought of mortgage rates being on the rise is a frightening one, particularly for new buyers looking to enter the real estate market. However, as Chief Economist of the National Association of REALTORS Lawrence Yun points out in a recent Forbes.com article, we all need to keep the current rates in perspective.

In his words, “Taking a look back, let’s recall how high rates were in the distant past. In the 1970s, they averaged 8.9%; in the 1980s, 12.7%; in the 1990s, 8.1%; and in the first decade of the new century they came in at 6.3%. The in-and-around 4% rate is only a recent phenomenon from the year 2011 to today.”

Yun recognizes that young buyers have in recent years seen rates dip below 4%, but points out that average income levels are also on the rise, making the gradual mortgage rate climb less painful.

Be sure to put the current rate increases into perspective, especially the for younger buyers who may have never known rates to be any higher.

Cold Weather Sellers’ Checklist: 4 Tips for Staying Open House-Ready

Selling your home during the winter months can be tricky, especially for homeowners living in regions frequently affected by snow. From unforeseeable storms to unwanted messes around the house, keeping your selling timeline on-track may seem daunting – but don’t fret! Here are a few tips to keep your home open-house ready during the snowy months:

• Get ‘em in the door – You have to get potential buyers in the door, but with snowy driveways and slick walkways this can be easier said than done. Be sure to clear a path to the front door, and don’t forget to salt the walkways; you want buyers to fall in love with your home, not slip on their way in!

• Let there be light – With winter days being shorter and often darker it’s important to give your home some light. By simply pulling back any drapery and turning on lamps and overhead lights you can make your entire home look and feel brighter.

• Keep it cozy, not stuffy – While you want to keep your home comfortable and heated, many potential buyers will likely be bundled up while visiting. Rather than cranking the heat, offer a plate of cookies and hot drinks to keep the house feeling warm and give it a natural sweet smell.

• Tidy up – Winter-weather clothing is bulky; snow boots, puffy jackets, scarfs and mittens can easily pile up by the front door. De-clutter your entryways – pack away your outdoor gear to make your home look clean and organized.

Cost vs. Value 2017 Report

With the many different projects reported annually in Remodeling Magazine’s Cost  vs. Value Report, not much has changed from last year...and that's not a bad thing. The 29 projects found on this year’s report paid back an average of 64.3 cents on the dollar in resale value. Looking at the 24 most tracked projects (projects consistently tracked for the last six years), their payback for 2017 was also 64.3 cents—only three-quarters of a penny higher than 2016 projections.

Why the little change? Simply put: the differences in underlying numbers was minimal year-to-year. The average cost for those 24 projects rose a meager 3 percent, while the value that real estate professionals put on said projects only rose 4.2 percent. Minor gains, yes, but we’ll take what we can get.

Recent and long-time trends continued, reports Remodeling. Curb appeal projects like changes to doors, windows and siding garnered a higher ROI than work done inside the home. Replacement projects, like doors or windows, scored higher among real estate pros than did remodels.

On a national scale, the top five projects with the greatest ROI in the report’s “midrange” cost category are:

1. Attic Insulation (Fiberglass) (107.7% ROI)
   Average Cost: $1,343
   Average Resale Value: $1,446
2. Entry Door Replacement (steel) (90.7% ROI)
   Average Cost: $1,413
   Average Resale Value: $1,282
3. Manufactured Stone Veneer (89.4% ROI)
   Average Cost: $7,851
   Average Resale Value: $7,019
4. Minor Kitchen Remodel (80.2% ROI)
   Average Cost: $20,830
   Average Resale Value: $16,699
5.  Garage Door Replacement (76.9% ROI)
   Average Cost: $1,749
   Average Resale Value: $1,345

The top five projects with the greatest ROI in the report’s “upscale” cost category are:

1. Garage Door Replacement (85.0% ROI)
   Average Cost: $3,304
   Average Resale Value: $2,810
2. Entry Door Replacement (fiberglass) (77.8% ROI)
   Average Cost: $3,276
   Average Resale Value: $2,550
3. Window Replacement (vinyl) (73.9% ROI)
   Average Cost: $15,282
   Average Resale Value: $11,286
4. Window Replacement (wood) (73.0% ROI)
   Average Cost: $18,759
   Average Resale Value: $13,691
5.  Grand Entrance (fiberglass) (70.1% ROI)
   Average Cost: $8,358
   Average Resale Value: $5,855

Regionally, the Pacific division (California, Oregon, Washington, Alaska and Hawaii) saw an average payback of 78.2 percent for all projects, with 10 projects posting cost-recouped levels of at least 90 percent. The East North Central states of Ohio, Indiana, Michigan, Illinois and Wisconsin, however, saw an average of just 54.9 percent, with no single project offering a payback of as much as 80 cents on the dollar.

At the other end of the spectrum are projects with the lowest returns on investment—improvements generally not in demand by the market. Again on a national scale, the five projects with the lowest ROI in the “midrange” cost category are:

1. Bathroom Remodel (64.8% ROI)
   Average Cost: $18,546
   Average Resale Value: $12,024
2. Master Suite Addition (64.8% ROI)
   Average Cost: $119,533
   Average Resale Value: $77,506
3.  Backyard Patio (54.9% ROI)
   Average Cost: $51,985
   Average Resale Value: $28,546
4.  Backup Power Generator (54.0% ROI)
   Average Cost: $12,860
   Average Resale Value: $6,940
5.  Bathroom Addition (53.9% ROI)
   Average Cost: $43,232
   Average Resale Value: $23,283

The five projects with the lowest ROI in the “upscale” cost category are:

1. Major Kitchen Remodel (61.9% ROI)
   Average Cost: $122,991
   Average Resale Value: $76,149
2. Master Suite Addition (59.9% ROI)
   Average Cost: $250,687
   Average Resale Value: $150,140
3. Bathroom Remodel (59.1% ROI)
   Average Cost: $59,979
   Average Resale Value: $35,456
4. Bathroom Addition (57.1% ROI)
   Average Cost: $81,515
   Average Resale Value: $46,507
5. Deck Addition (composite) (56.4% ROI)
   Average Cost: $39,339
   Average Resale Value: $22,171

The 2017 Cost vs. Value Report compares, across 99 markets, the average cost of 29 popular remodeling projects with their average value at resale one year later. Average resale value is calculated based on estimates provided by real estate professionals.

Annual Review 2016 Our Local Real Estate Market

http://thescoop.erashields.com/colorado-springs-metro-residential-real-estate-annual-review-for-2016/ 

CDOT presents to Chamber & EDC Transportation Coalition

CDOT presents to Chamber & EDC Transportation Coalition Friday, the Colorado Department of Transportation (CDOT) presented an overview of information to our transportation coalition made up of Chamber & EDC Members and Investors. Video of their presentation is available on our Facebook page, the full slide deck is available below. Download the full power point presentation here Welcome Eddie Quinn to Chamber & EDC Staff Eddie Quinn is the new Member Development Executive for the Chamber & EDC. He will serve as both a sales professional and as part of the Chamber & EDC's overall mission to promote and serve the business development needs of our region. Eddie brings with him with more than 25 years of sales and sales management experience. He has been an entrepreneur, small business owner, and is a proud US Navy veteran. Contact Eddie at equinn@cscedc.com or by calling 719-884-2840. OEDIT now accepting applications for Advanced Industries Accelerator Grant program DENVER - Jan. 4, 2017 -The Colorado Office of Economic Development and International Trade (OEDIT) today announced it is accepting applications for the Advanced Industries Accelerator Grant program.  Proof of Concept and Early-Stage Capital and Retention applications are due March 1, online at choosecolorado.com. Read the full press release here   Local and National News Downtown ends year of record growth January 4, 2017 Parsons moves to new role at Chamber & EDC January 6, 2017 I-25 widening project accelerated, CDOT announces January 6, 2017 Cybersecurity company moves its headquarters to Colorado Springs January 9, 2017 Upcoming Events Business After Hours - Block Advisors January 12, 2017 Continuing the Dream in Honor of Dr. Martin Luther King Hosted by Colorado Springs Black Chamber of Commerce January 21, 2017 State of the State February 8  , 2017 State of the Fifth Congressional District February 24, 2017 VIEW ALL UPCOMING EVENTS  Meet our newest members Key General Contractors Constitution Dental Group