April 06, 2012 12:31:12

 

For detailed and expert information about available Mortgages in Colorado Springs and the Pikes Peak Area, please visit

 

 

June 30, 2011 14:48:44

COLORADO SPRINGS, CO, Jun 30, 2011 - Many individuals interested in selling their homes are already aware that curb appeal is crucial. Making a good impression on potential buyers before they even step inside will assure that your property is memorable, but more importantly, making a bad impression will hinder your chances of selling your home-regardless of how charming it is inside. The following tips will allow you to amp up your curb appeal without breaking the bank.

"Many homeowners who are trying to sell their Colorado Springs area home think that increasing their curb appeal has to be a pricey affair involving landscapers or a new front porch," says Joe Clement, Broker/Owner of RE/MAX Properties, Inc.. "But there are a great deal of small, inexpensive things you can do for the outside of your home that will make the overall appearance much more appealing." Clement suggests these simple do-it-yourself projects, all of which will take less than one afternoon, and cost you 100 dollars-or less!

Flower Boxes. "Putting flower boxes under your windows will give your home a pop of color and increase the overall charm factor of your property," says Clement. All it takes is the boxes themselves-which are usually under $35-some soil, and plants. Not interested in flower boxes? A few potted plants lining your porch, steps or walkway will do the trick as well.

Repaint Your Accents. Repainting the accents of your home-including the front door, trim and shutters-will give your house a fresh, clean look. "Choosing a bold color will make your house stick out, but even playing it safe with a neutral tone will make your property appear clean and well cared for," says Clement.

Replace Your Numbers. "Many houses have old, faded or rusted numbers. Buying new, modern numbers-or even customized numeral plaques-can really help the look of the front of your house," says Clement. "This is a small detail that is often overlooked but can have a really nice effect."

Plant a Garden. Planting a small flower garden in the front of your house will give your home a warm, inviting look. "Foliage adds instant curb appeal," states Clement. "If you don't want to tend to flowers, consider planting a tree."

Detailing. Adding interesting details, such as a bird feeder or birdbath, will improve the appeal of your front yard. "Inexpensive stepping stones trailed throughout a garden or up to the front door are also attractive touches," suggests Clement.

Mailbox Makeover. "Getting an upgraded or customized mailbox adds great detailing to the front of your house," says Clement. "Whether you opt for a mounted box on the side of your home or a curbside container, having a mailbox that stands out is a nice touch."

"There are many different low-budget options for bolstering your curb appeal," says Clement. "Doing so will immediately make your home more inviting, assure a great first impression and enable a faster selling time."

 

For more information on the importance of curb appeal when selling your home, please click here to contact one our exceptional Colorado Springs and Pikes Peak Region broker associates.  Or, email info@wesellmore.net.  You may also call one of our four locations: 

Monument: 719-487-6100
North: 719-598-4700
Downtown: 719-635-7653
South: 719-576-5000

 

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June 11, 2010 17:52:51

Phantom Liens:

The scenario:  In the process of closing a house sale it was discovered that there was a lien against the house for a line of credit worth $50,000 which the owners had taken out a few years prior.  The lien holder was showing on the public record as a local mortgage company.  We contacted this company and they said they did not have a record of this line of credit.

According to the seller's they had taken another second mortgage 3 years earlier that had paid off this $50,000.  They had records of the mortgage broker, her company and the title company, all which no longer existed or could be found.  The mortgage brokerage was out of business, the title company was out of business and the mortgage broker was no where to be found. 

We determined that while the second mortgage had indeed paid off the $50,000, the mortgage company and title company had not filed the proper paperwork with the clerk to release the lien.  The county clerk could not release the lien without proper authority so we were stuck with this dilemma and the closing was in jeopardy. 

The solution turned out to be very simple.  We contacted a local bond house with the issue and found that for a small fee the bond house would assume the risk of the lien and this released the title of the house so we could close.  The seller's paid less than $200 and we closed the following day. 

 

Submitted by:
Kim Martin, www.MarketingColoradoSprings.com, 719-337-0537, KimMartin@Remax.net

 

April 27, 2010 09:19:15

 

SHOULD I PAY BI-WEEKLY OR JUST PAY EXTRA PRINCIPAL MONTHLY TO ACCELERATE MY MORTGAGE?

 By Kathy Genz CRS CDPE GRI QSC SRES, Broker Associate, RE/MAX Properties, Inc

 This post is a follow up to my post on this blog on March 20, 2010.  Many banks offer bi-weekly payment programs for borrowers to be able to prepay their mortgage easily and conveniently.  It is automatic and you just have to remember to make sure to put that payment in your check register every 2 weeks.  In effect, you are making an extra month's payment every year that goes towards paying down principal by making payments 26 times throughout the year of an amount of half your normal monthly payment, rather than making 12 monthly payments.

 BEST OPTION?

 But is this really the best option?  If you have difficulty putting money into savings every paycheck, this may be the best option for you because it is automatic and pays down your mortgage without you having to think about it.  Most people are not disciplined when it comes to money.  If you are one of the disciplined people out there, another option may fit you better.  And that is to pay that same amount of extra principal with your regular monthly payment.  You can still set up automatic payments through your electronic bill payment service at your bank or through your mortgage lender.  But you do have to let your lender know the extra is going towards principal and not escrow for your taxes and insurance.  The benefit is that you actually pay down your mortgage faster by doing it this way!

 I'm sure you've heard of the concept of buying term life insurance, which has lower premiums in the earlier years than whole life, rather than buying whole life and then putting the difference you save between the 2 types of insurance in investments instead.  The only problem is that the majority of people never put the difference in investments.  A bi-weekly mortgage payment works the same way.  If you need the discipline of a structured program, then a bi-weekly program (or whole life if you are buying insurance) can get you where you'd like to go financially.

 MORE CONTROL

If however, you are a person who likes to have more control, will pay the extra towards principal every month, and wants to have more equity at the end of every year than you would with a bi-weekly program, then using an automatic payment that you control can get you there even faster.  Doing it this way also allows you to increase the amount of extra principal paid as your income increases or as you pay down other debt and have additional money you can apply to your mortgage.  But, in any event, it is always good to pay extra toward your mortgage if your goal is to increase the equity in your home.  You can compare by using a bi-weekly calculator and a mortgage payoff calculator and looking at the difference in your principal balance at the end of each year.  These calculators are readily found on the web.  I found a bi-weekly calculator at bankrate.com.  Your own bank probably has one or both on their website.

 TURNING A 30 YEAR INTO A 15 YEAR LOAN

If that isn't enough, let me give you one more way to accelerate your payments and turn your 30 year mortgage into a 15 year mortgage without having to commit to a 15 year payment schedule.  Pull out your amortization schedule for your mortgage or create one on any of the mortgage payment calculators available on the internet.  The bank where you having checking and savings probably has one on their website.  Now, look at the amount that goes into principal each month from your payment.  When you make your next payment, double the principal.  If the principal portion is $200, add $200 to your next payment.  You are effectively getting rid of one payment every time you do that.  And you can see that if you keep it up, your interest portion keeps reducing and the principal portion keeps growing.  You get rid of half your payments over the life of the loan.  This works because the ratio of principal to interest is calculated every month as your balance declines, so you accelerate your principal reduction.  What a deal! 

FLEXIBILITY

So, you decide whether a structured method that is automatic or a more flexible method that can still be automatic is the best choice for you.  The advantage of the flexible method is that you can change the extra amount at any time, either increasing, decreasing, or eliminating it, or by adding lump sums (like your tax refund) to one payment to accelerate the loan even faster.  You choose.  Until the real estate market provides appreciation once again, principal reduction is a good way to add value to your home and to your net worth.  Isn't that part of the reason you purchased real estate to begin with?  Don't ignore this powerful tool for creating wealth.

MORE INFORMATION

To learn more about strategies like these, visit my blog at kathygenz.com.  New posts are uploaded regularly.  We even have restaurant reviews on Thursdays!  Join us online.