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We have lived in the mountain for many years and know what to help you look for and what to avoid when purchasing a home.
If you would like help with your home search, please reach out to us.
We would love you help you on your journey!
Mark Stitt
Mountain Homes In Colorado | lpt realty
Need help with real estate? Sell or buy, we’re here for you every step of the way. Contact us today to schedule a personalized consultation and begin your journey towards finding your ideal home. Click here!
Embarking on the adventure of owning a home can be both thrilling and daunting especially if your credit history has faced some bumps in the road. While having a less than perfect credit score may present some hurdles. However, it doesn’t mean that your dream of homeownership is out of reach. This guide aims to offer you assistance in navigating the process of buying a home with a credit history.
Understanding Your Credit Status
Begin by obtaining a copy of your credit report from credit reporting agencies. Thoroughly review it to grasp the factors affecting your credit score. Identify any inaccuracies. Address them promptly. Being aware of your credit status is the step towards enhancing it.
Setting Practical Expectations
A bumpy credit history might restrict your choices. However, It doesn’t close all doors. Be pragmatic about what you can afford and the type of mortgage you might be eligible for. Establishing practical expectations upfront will help you steer clear of disappointment and frustration on the journey.
Exploring FHA Loans
Federal Housing Administration (FHA) loans are tailored to assist individuals, with lower credit scores and limited financial means. These loans often come with lenient credit requirements making them a good choice for individuals with a less than perfect credit history. Look into FHA loan programs. Familiarize yourself with their eligibility conditions.
Improve Your Credit Score
Take measures to boost your credit score. Pay down any debts, ensure payments are on time and seek assistance from a credit counselor if necessary. Enhancing your credit score can lead to better mortgage terms and lower interest rates.
Save Up for a Larger Down Payment
While obtaining a mortgage with a credit score can be challenging, having a down payment can strengthen your position. Saving up for a payment demonstrates financial responsibility and reduces the lenders risk potentially improving your chances of approval.
Explore Different Lenders
Each lender has different criteria. Some may be more open to working with individuals who have had credit challenges in the past. Research different lenders and compare loan options to find one that understands your circumstances and offers terms that align with your requirements.
Consider Cosigners or Guarantors
If your credit history poses an obstacle, think about enlisting a family member or close friend as a cosigner or guarantor for the loan. Their stronger credit profile could enhance your chances of securing a mortgage. Purchasing a house when you have a less than perfect credit history could pose some difficulties. It’s definitely possible to overcome. By knowing where you stand with your credit, having goals, looking into loan options and actively working on enhancing your credit score, you can improve your prospects of owning a home. Just keep in mind that this process might need some time and effort. Yet by following a plan, you can make your dream of homeownership come true!
Seizing the Opportunity: Why You Should Consider Buying a Home Before Mortgage Rates Fall
Deciding to invest in a home marks a moment in one’s life often involving deliberation and strategic planning. In the realm of estate, one crucial factor that can influence your home-buying journey is mortgage rates. In this blog, I will explore the reasons why now could be the time to purchase a home before mortgage rates see a decline.
Historically Low Rates
In past years mortgage rates have remained at historically low levels making homeownership more attainable, for a wider range of individuals. However economic circumstances can shift, raising the possibility that these rates may increase down the line. Opting to buy now allows you to secure a low interest rate potentially saving you thousands of dollars throughout your mortgage.
Increased Affordability
Lower mortgage rates lead to affordability. With reduced interest rates your monthly mortgage payments are likely to be more manageable giving you the flexibility to either afford a property or redirect those savings towards other aspects of your life. Making use of the rates could pave the way, for homeownership opportunities that might become more challenging as rates begin to rise.
Market Demand and Competition
When interest rates on mortgages are low there tends to be a demand for homes. This increase in demand can create a market where multiple buyers compete for the same properties. Acting proactively before rates rise can give you an edge by avoiding bidding wars and securing your home at a fair price.
Long-Term Investment
Real estate has shown itself to be a long-term investment. By buying a home when mortgage rates are low, you position yourself for growth in the property’s value over time. This can help you build equity and financial stability improving the worth of owning a home.
Economic Uncertainty
Economic circumstances are always changing, making it difficult to predict developments. Taking action early can shield you from uncertainties that could result in higher mortgage rates down the line. Securing a rate offers security and peace of mind.
Wrapping It Up
Deciding to buy a house is a big decision and you should consider many factors. The current circumstances offer a chance that shouldn’t be overlooked. With the real estate market changing, taking advantage of this opportunity before mortgage rates decrease could open the door to a future, in your dream home.
Remove and put away anything in your home that is personal to you and your family when staging your home. Take down family portraits, kids’ art, and off-putting book titles on shelves. You want the buyer to be able to envision your home as theirs. Remember the garage and yard too.
2. Declutter
Each space has a purpose and the items in that area should serve that purpose. Remove anything that is not serving that purpose. If you use a room for more than one purpose as in an office and you work out in there. Stage it as one or the other. If there is no gym equipment, show it as an office and pack up all the other items for a while.
In the kitchen, remove the refrigerator magnets and minimize appliances and items on the counters. Keep one to two appliances at the most on the counters. Maybe a coffee maker or stand mixer. If it is something you use often, I would leave it out on the counter. Minimize what is in bathroom cabinets. Remove any bathroom rugs. Closets, pantries, and drawers should not be overstuffed. Instead, make sure they are organized and neat. You want your primary closet to look like there is extra space and not stuffed.
Make sure the kitchen and bathrooms have minimal items on the counters as well. Do NOT have your toothbrushes and hairbrushes out.
3. Clean
Deep clean like the President is coming to your home. You can hire this out for someone to do a deep clean of your home or you can do it yourself. Do not forget inside the refrigerator and the dust bunnies behind the doors too. The kitchen and bathrooms need to be sparkling clean.
4. Function & Flow
Make sure furniture functions and there is flow in a room to show off fixed assets (i.e. fireplace). Make sure there is some open space where people can walk around and get to the actual fixed assets in a room.
5. Lighting
Replace your light bulbs to brighter lighting, especially in basements that may not receive a lot of natural light. You want the lighting to be very inviting. The scale on the back of the box will help guide you to stay on the warmer side between 2700-3000.
6. White Towels and Bedding
When staging your home, white looks more crips in pictures and videos and clean in person. They do not have to be good quality, just clean and not worn out. If you can not get white at least use sets that match the room you are in.
7. Throw Pillows & Blankets
Pillows and blankets can make a room look flush and sumptuous and more expensive. If you are not able to buy any and you have some, try throwing them in the washer and dryer and see if that helps the pillows look better, or look for inexpensive slip covers for the ones you do have. When a room is already colorful, then use neutral pillows and blankets to tone it down. If the room is already neutral, colorful pillows and blankets will give it that visual pop that may be missing.
8. Oversize It
When you are looking to style, it is better to choose 1 or 2 larger items than a bunch of smaller items. Big items, have a big impact and make your home look more grand, while small items make it look cluttered and incomplete. Items that look best oversized are mirrors & artwork. Artwork should not be hung too high. For reference, the middle of the art piece should be about 60 inches from the ground, at eye level. Look around your home or you can borrow items from a friend if you would like.
9. Greenery
At least one plant or flower in every room helps the space come to life. It makes the room not look so cold and flat. Real or fake, it does not matter. You just want to bring the outdoors in a little bit.
10. Create a Story! (Examples)
When staging your home it helps to create stories so that the buyer can envision themselves in the space.
– Set up a coffee bar the buyer can see when they first walk into the kitchen or a tea set.
– Outdoor spaces – A rug on an empty deck creates a nice feel of home and warmth. A fire pit with smores set out.
– A chair with a book on a side table.
– Champagne or wine glasses on a small table in a living room, sitting room, etc.
In order to get top dollar for your home you do not want to overprice your it. This will often result in lower interest in your home and lowball offers. While underpricing will certainly drive up the interest, you could end up leaving money on the table and your pockets a bit emptier.
2. Fix Anything That Needs To Be Fixed Before You List
Fix any home repairs before you list. If a buyer asks you to do it, the costs will rise.
3. Smells
Get rid of them. There is nothing that will drive a buyer out of your home faster than a bad smell. No one wants to pay for stink. We become desensitized to the way our home smells, but a person who has never been in your home is not. Their nose is primed – pets, dirty diapers, trash, body odor, cooking odor, stale air. The worst of all, cigarettes, will have a buyer retreating onto the next house. Do what you can to avoid these offenders like boarding your pets for a few days during home showings or renting an air purifier. Do not think that just plugging in a scented wall fragrance will do the trick. All that does is smell like you are trying to hide something. A home that smells bad, can sit on the market a whole lot longer than a home that doesn’t.
4. Cleaning
In order to get top dollar for your home, you want to clean it like the president is coming to visit your home. If you do not like the president, then any other important person to you. Wiping down the counters and mopping the floors is not quite enough. Dust the ceiling fans and clean inside the refrigerator, microwave and stove. Wipe the walls and the corners, the baseboards, and attack the spider webs. Clean the outside and inside of your windows. Get all those areas that are often neglected in a regular cleaning. You can do this yourself or hire someone to do a deep cleaning of your home. If there is mold in your shower or tub and you cannot clean it to get it white, remove the caulk and re-caulk the shower and tub.
5. Carpets & Rugs
Have them cleaned. Getting a professional in is money well spent. Clean carpets and rugs give a really good first impression. Nothing may be more off-putting to a buyer than other people’s dirt.
6. Windows
Open them up! Open up the curtains & blinds to show off any gorgeous views your home may have. If you do not have any gorgeous views, do not worry about it. It will also bring in more natural light to the space and people like to connect with nature.
7. Curb Appeal
– Maintain regular mowing, edging, and weeding schedule.
– Add fresh mulch to all beds.
– Remove any dead plants and replace them with seasonal plants, when appropriate.
– Remove lawn décor and equipment.
– Make sure the front porch/entryway is clean and inviting. Remove cobwebs that form overnight and leaves from the porch. Take
care of your flowers or buy a pot and put some in the entry by the door. Colorful flowers make your home look fresh and lively in
person and make it stand out.
– Repaint or refinish the front door, if needed.
– Update house numbers, if needed. Numbers need to be visibly seen, bright and fresh.
8. Update Porch Lighting
Make sure it lights up well and is bright and not yellow. Get all the bugs out of the lights too.
9. Maintain Snow
If it is winter, make sure your driveway, walkways, and patios are maintained when it snows. Buy a new mat for the door too.
10. Cracks
Fill Them In. Whether they are on the walls, the tub surround, or the concrete drive. Cracks scream something is wrong with the foundation when it might not be or the home has been neglected. So to get top dollar for your home, grab your caulk and gun, walk around the house and fill cracks in. Just make sure to use the right substance for each location.
11. Air filters
Replace them. It will be found on an inspection report and dirty ones look plain gross.
12. Lighting
Update it and brighten your home! Updating the kitchen, living, and entryway lighting can make a big impact. Replace your light bulbs with brighter lighting, especially in basements that may not receive a lot of natural light. You want the lighting to be very inviting. The scale on the back of the box will help guide you to stay on the warmer side between 2700-3000.
13. Paint Is $ In A Can
Go lighter inside! Buyers are attracted to spaces that feel light and bright. Bold colors distract buyers from seeing the potential of a room. If you have scuff marks on your walls, a fresh coat of paint can do wonders for increasing the appeal of your home. To get top dollar for your home, paint is the least expensive way to update a space and makes the biggest impact on first impressions that no amount of decorating can match.
Effective digital marketing is crucial for home sellers and is how we market your home to sell. It boosts exposure, attracts buyers, and potentially increases the sales price.
As experienced agents, we use multiple strategies to market your home to sell and to maximize your property including:
1. Professional Photography,Floor Plans, & 3D Tour
Professional photography and videos are essential to telling the story about your home to potential buyers. Posting these photos on social media like Facebook and Instagram maximize property exposure and marketing impact. They can lure in and engage prospective buyers. Floor plans and 3D tours help the buyer better visualize your home. Statistics show that professional photos, floor plans, and 3D tours boost sales and prices compared to amateur photographs.
2. Professional Virtual Video Tours, Drone Video with Google Earth Animations
Virtual home tours aid potential buyers in grasping your house layout, serving as a powerful marketing tool. It immediately sets your house apart from the others on the market. Coupling video tours, drone footage, and Google Earth animations creates maximum impact. Drone video footage allows for dramatic scenes of the mountain views, which engages potential buyers and keeps their attention. It allows potential buyers the dream of mountain living.
We can spice up your home’s marketing by dressing it up with characters, if you choose, to attract more attention. Our statistics show that this approach increases engagement, translating to more potential buyers for you. Given that nearly all home buyers utilize the internet in their search, this strategy is sure to make your property stand out.
3. Social Media, Paid Ads & Open Houses
Social media can pay huge dividends when selling your home. Your home will be shown on social media platforms.
We also advertise by creating events for your Open Houses on social media and running ads.
4. Staging
Staging can be very beneficial to successfully photographing the interior of your home. Proportionate furniture and decor can enhance spaciousness and add homely elegance to any area.
5. Marketing Power Pack Materials& Custom Website.
To draw more attention to your property, we also offer a marketing power pack and custom website. This pack includes printed marketing material from flyers, to post cards, and door hangers that we distribute for your home. Additionally, we offer a yard sign rider with a phone number to a personalized website for your property.
As a former real estate attorney and Evergreen resident, Mark, offers extensive expertise in real estate, negotiation, and local resources.
We pride ourselves on serving you with efficiency and experience. How we market your property to sell, far exceeds what other realtors are currently doing.
Considering selling your home? Please contact us to get a free property evaluation.
A free evaluation of your home can be quite helpful for homeowners planning to sell their property. It’s important to note that various factors contribute to determining a homes value besides its size and age. While these are aspects they only touch the surface of what influences the value of a property.
The condition of the home, any upgrades or renovations done, the neighborhood and its amenities, local market trends and similar sales in the area all play roles in determining a property’s value. A thorough evaluation considers all these factors to provide an estimate of the listing price for a home.
Home Estimate
If you’re looking for an idea of your homes worth, you might be prompted to click on a link or fill out a form. Although this can give you a sense, it’s crucial to understand its limitations. For an assessment that takes into account improvements, renovations and other relevant information, it usually requires a more detailed evaluation.
For an in depth evaluation, it’s advisable to reach out to a real estate agent or professional who can visit your home personally. They will carefully assess your property taking note of any updates or special features that could affect its value. By inspecting your property in person, they can offer a estimate tailored to your specific situation.
Experienced Agent
Having an experienced real estate agent by your side is crucial when setting the price for your home competitively. Their knowledge of the market and understanding of buyer preferences can have an impact on maximizing your properties worth and ensuring a successful sale.
If you’re interested in receiving a home evaluation that is a rough estimate, please click here. It’s important to acknowledge its limitations and consider seeking a evaluation for an accurate listing price. Getting in touch with a real estate agent who can conduct an on site assessment will provide you with the dependable estimate and guide you towards a successful home selling process.
Should you desire a more accurate estimate for your home, including any enhancements made please contact us. We are happy to arrange a visit to your property for an evaluation offering you an estimation, for listing purposes.
We will determine your needs, wants, priorities and discuss your desired time frame, which will dictate the tempo of your search. We can work at your pace as many clients need the transaction to move quickly, while others have plenty of time to make their decision. In addition, we will identify your price range, the type of property you are looking for and discuss which neighborhoods are a good fit. If you need help with a mortgage pre-approval, we will give you a list of preferred lenders at this time.
2. Set Up Your Property Portal & Begin An Online Search
Your property portal will email you new listings as they become available & allows you to save favorites/possibilities, add comments, and remove properties that you don’t like. If it’s a collaborative search with your partner, it’s a great way for you to communicate with each other about properties. We typically suggest to include as many areas/neighborhoods as could possibly fit your search and then remove neighborhoods and areas as you narrow your search down. Likewise, we like to set up the property criteria broadly (price, beds/bath, square footage) and then add more criteria as you define your “must haves” in a home. To setup your property portal, please click here.
3. Visiting Properties
We usually recommend setting up a 2-4 hour appointment to view multiple properties on the first 1-2 outings. Since you’ve just begun your search, there is a lot of inventory that you’ve not viewed yet, so we’re able to look at quite a few houses in a short period of time. As we look at homes, you will naturally like some properties and dislike others. We’ll help point out what it is you like & dislike about properties so that it’s easier to determine what properties are a good fit in the future. During showings, we’ll point out potential resale problems that can’t be fixed (backing to a busy road, awkward floorplans, etc.) We’ll also help show you what can be improved and what these home renovations would cost.
If you are unable to attend viewing the properties in person, we are happy to take you on a video tour and you can see the homes and ask questions as we are walking you through the properties.
4. Make An Offer
When it’s time to make an offer, we’ll run a Comparative Market Analysis (CMA) to determine the Fair Market Value (FMV) of the property. We’ll talk to the listing agent to see if there are other offers on the property and then put together an offer contract, which has every term of the contract outlined in detail. Sometimes the seller will accept your initial offer, but typically there are 1-3 rounds of negotiations. After we’ve come to terms on the contract, you’re officially under contract!
5. Contract To Close
After you’ve put the property under contract, you will need to deposit earnest money. You’ll have 7-10 days to have the property inspected and negotiate any repairs. The inspection will typically cost $500, plus well and septic if applicable which is the last check you will write before closing. Closings are usually 30-45 days from the contract date, and it’s outlined in advance in the contract.
6. Closing Day!
You’ll receive the settlement statement from your lender 3 days prior to closing. This shows you exactly how much you need to wire into the title company and shows you what you’re paying for at closing. If you would like to schedule a final walk through of the property, we can do so the night before or morning of closing. We like to schedule closings at 2PM or earlier to make sure the file funds on the same day.
Unfortunately, you don’t get your keys until the lender has funded the loan, which takes 1-2 hours after the last party has signed. As soon as the property has funded, you can either pick up the keys from title or have them send a runner to you with the keys. If you can’t be available for the closing, let us know ahead of time, and we can set up a mobile notary to come to you for a remote closing.
7. After Closing
It’s natural for you to have questions about the home and home ownership after closing. We’re always available to answer questions and to provide you with referrals to any vendors you may need. We typically stay in touch with our clients for years after closing and we’re always happy to help in any way we can!
The mortgage loan calculator below is sourced from a provider. Is meant for estimation purposes only. For an calculation tailored to your specific situation we suggest contacting a qualified lender.
When it comes to securing a home mortgage there are many steps involved. Here’s an overview of the process;
1. Evaluate Your Status
Before seeking a mortgage it’s important to assess your standing. This involves checking your credit score calculating your debt, to income ratio and determining the amount you can comfortably borrow.
2. Look Into Mortgage Options
There are many different types of mortgage options; fixed rate mortgages, adjustable rate mortgages (ARMs) FHA loans, VA loans and many more. Work with a lender and research these options to find the one that aligns best with your needs.
3. Pre-approval Process
Obtaining pre approval for a mortgage can provide insight into the amount you qualify for and show sellers that you’re serious about buying. To get pre approved you’ll need to submit documents like pay stubs, tax returns and bank statements, to the lender.
4. Selecting a Lender
Take the time to research and compare lenders in order to secure mortgage rates and terms. You have the option to work with banks, credit unions, mortgage brokers or online lenders.
5. Application Submission
Once you’ve selected a lender you’ll be required to fill out a mortgage application. This process involves providing information regarding your income work history, assets, debts and the property you wish to buy.
6. Underwriting Review
Following the submission of your application the lender will initiate the underwriting review. This includes verifying your details evaluating your creditworthiness and determining if you meet the lenders mortgage criteria.
7. Property Appraisal and Inspection
Typically the lender will request a property appraisal to assess its value and ensure it aligns with lending standards. It might also be wise to conduct a home inspection to uncover any issues, with the property.
8. Final Approval and Closure
Should your mortgage application receive underwriter approval and both appraisal and inspection results are satisfactory you’ll be granted approval, for the loan. You will then sign documents at a closure meeting where you’ll cover closing costs and fees while ownership of the property is transferred to you.
9. Loan Repayment
Following completion of your mortgage agreement, the processing of regular monthly payments according to loan terms will commence. Please keep in mind that the mortgage procedure may differ based on factors, like the lender, the type of mortgage and your specific financial circumstances. Collaborating with a real estate agent and mortgage broker can assist you in navigating the process smoothly and ensuring a seamless transaction.
Should you need help finding a lender feel free to reach out to us. We have connections, with lenders and would be happy to offer suggestions tailored to your requirements.
To search for homes in Evergreen, Colorado and the surrounding areas that are for sale, please contact us or click here.
Mark Stitt
Call or Text: 303.870.8826
*We do not assume responsibility for the accuracy of the mortgage loan calculator provided below.
Prior to listing your home, you’ll want to ensure everything is in good showing condition before buyers start to tour the home. Here are some important things to consider:
–Start Packing Now is the time to put things in storage, clean out the basement and garage and start preparing to show your home. Remove any
family photos or personal items. Remember, you want buyers to see themselves in your home!
– Spot Paint Touch up both interior and exterior paint. Replace any rotten wood as well.
– Update Carpet Clean or replace carpet in areas with heavy wear.
–Extra Cleaning Keep the interior and exterior clean and odor free.
2. Curb Appeal Trim any overgrown bushes, mow the lawn and keep it free of leaves or snow. Make sure the front of the home is clean and appealing. You want to make a strong first impression!
3.Find Potential Problems Early Once you’ve completed these steps you may want to hire someone to perform a pre-listing inspection. Buyers will be hiring professional inspectors too; this is your chance to find and address problems before it’s time to sell.
4. Professional Staging Consider hiring a professional stager to help give buyers the appeal they’re looking for. Here is a list of things to help you stage your home yourself. Click here!
5.During the Listing Period
You’ll need to plan to have something to do during the times potential buyers visit your home. If initial offers don’t meet your expectations, don’t dismiss them immediately. You may need to consider lowering your asking price if months go by with few or no offers. However, by working with your agent you will be able to arrive at a price that works for all parties.
For a more detailed list to get top dollar for your home. Click here!
