Six Weeks before the move – Order Supplies: You should order boxes and other supplies such as tape, Bubble Wrap, labels, and permanent markers. Do not forget to order specialty containers, such as dish barrels, plastic bins, or wardrobe boxes. Use it or lose it: You should start using up things that you do not want to move, like frozen or perishable foods and cleaning supplies. Take Measurements:     Measure room dimensions at your new home, if possible, and make sure larger pieces of furniture will fit through the door and hallways. 

Check out this blog by 719Lending When you think of your dream home, you probably imagine a structure that fits your needs and exudes your personal style. Maybe it has a large yard or maybe it is more urban. No matter what kind of home fills your imagination, it is probably termed a single-family home or maybe a condo. But did you know that residential real estate includes other kinds of homes as well: duplexes, triplexes, and even quadriplexes? Duplex: A home divided into two separate residences Triplex: A home divided into three separate residences Quadriplex: A home divided into four separate residences Some duplexes, triplexes, and quadriplexes are built with this layout and purpose in mind. Others are converted into multiple residences from a large building or home. One of the main defining features of this type of setup is that all of the residences are part of one single structure. Why buy a multi-family residential property? You probably just have one family, so why do you need extra residences? As the owner, you can rent out the other one, two, or three units to supplement your income. Just make sure that you are familiar with landlord requirements in your area and are ready to address any issues, such as repairs and maintenance, as they come up. You should also do your research into the housing market in your area and what you can expect to charge for rent for the location, size, and condition. You can also consider hiring a property manager to interface between you and the tenant. This can be a bit awkward, since the tenant is your next door neighbor, but will certainly save you from having to answer calls at night or on the weekends about things that need to be fixed. If you are looking for a way to boost your income just by your choice of home, a duplex, triplex, or quadriplex may be the way to go. The post What are Duplexes, Triplexes, and Quads? appeared first on 719 Lending.

Check out this blog by Keeping Matters Current. According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be surprised by the options that are still available for borrowers with lower credit scores. The fact that the average American has seen their credit score go up in recent years is a great sign of financial health. As someone’s score rises, they’re building toward a stronger financial future. As more Americans with strong credit enter the housing market, we see a natural increase in the FICO® score distribution of closed loans, as shown in the graph below:If your credit score is below 750, it’s easy to see this data and fear that you may not be able to qualify for a mortgage. However, that’s not always the case. While the majority of borrowers right now do have a score above 750, there’s more to qualifying for a mortgage than just the credit score, and there are still options that allow people with lower credit scores to buy their dream home. Here’s what Experian, a global leader in consumer and business credit reporting, says: Federal Housing Administration (FHA) loans: “With a 3.5% down payment, homebuyers may be able to get an FHA loan with a 580 credit score or higher. If you can manage a 10% down payment, though, that minimum goes as low as 500.” Conventional loans: “The most popular loan type typically comes with a 620 minimum credit score.” S. Department of Agriculture (USDA) loans: “In general, lenders require a minimum credit score of 640 for a USDA loan, though some may go as low as 580.” S. Department of Veterans Affairs (VA) loans: “VA loans don’t technically have a minimum credit score, but lenders will typically require between 580 and 620.” There’s no doubt a higher credit score will give you more options and better terms when applying for a mortgage, especially when lending is tight like it is right now. When planning to buy a home, speaking to an expert about steps you can take to improve your credit score is essential so you’re in the best position possible. However, don’t rule yourself out if your score is less than perfect – today’s market is still full of opportunity. Bottom Line Don’t let assumptions about whether your credit score is strong enough put a premature end to your homeownership goals. Contact your local real estate professional today to discuss the options that are best for you. The post What Credit Score Do You Need for a Mortgage? appeared first on Keeping Current Matters.

Home value in 80910 in Colorado Springs has gone up to 15.9% in the last 12 months. The average home price in 80910 is between $250k – $300k. The average square foot for a home in this region is 1000 sq ft – 1200 sq. ft. There is about 4,126 people that make $25,000.00 or under in a year who currently own homes in this area. The annual rain fall is about 16 inches. The annual snowfall is about 42 inches. These facts came from the MLS through RPR reports.

Check out this blog by Keeping Matters Current. Some Highlights Today’s home price appreciation is driving equity higher throughout the country. If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move. Now is a great time to put your equity toward a down payment on the home of your dreams. The post Americans See Major Home Equity Gains [INFOGRAPHIC] appeared first on Keeping Current Matters.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. Tami Bonnell, CEO, EXIT Realty Corp. International recently announced that Michael Wohl has acquired the subfranchisor rights to the states of Vermont, Maine and New […] The post Michael Wohl Acquires EXIT Realty Upper New England appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. Here are two things to keep in mind if you’re thinking of selling this season. 1. There aren’t enough homes for sale right now. A normal market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that benchmark. According to the National Association of Realtors (NAR), there’s only a 1.9-month supply of homes available today. As a result, buyer competition is high and homes are only on the market for about 21 days, during which time many receive multiple offers from hopeful buyers. In a competitive market that’s moving so quickly, it makes sense to sell your house when buyers are scooping homes up as fast as they’re being listed. Spending costly time and money on renovations before you sell might just mean you’ll miss your key window of opportunity. While certain repairs on your house may be important, your best move right now is to work with a real estate advisor to determine which improvements are truly necessary, and which ones are not likely to be deal-breakers for buyers. Today, many buyers are more willing to take on home improvement projects themselves in order to get the home they’re after, even if it means putting in a little extra work. Home Advisor explains: “When it comes to the number of home improvement projects completed, Gen Z homeowners are leading the pack, completing an average of 3.5 projects. Millennials closely follow Gen Z, taking on an average of 3.3 projects, followed by Gen X at 2.8 projects. Boomers completed an average of 2 projects, and the Silent Generation completed the fewest projects, on average, at 1.8 per household. Compared to 2019, millennials are spending 60% more on home improvement and doing on average 30% more projects.” In this market, it may be wise to let future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. As a seller, your dollars and time might be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior. Instead of over-investing in your home with upgrades that the buyers may change anyway, work with a real estate professional to determine the key projects that will maximize your listing, without overdoing it. 2. Focus on getting a good return on your investment. When planning any bigger projects to tackle, you and your real estate agent will want to discuss the potential return on your investment and if those projects are worth the cost. Some homes do need a kitchen or bathroom renovation, roof repairs, or other major work, but definitely not all of them. You might be surprised by how well your house could fair in today’s sellers’ market. Hanley Wood states: “The 2020 Cost vs. Value report shows a predictable increase in costs for all 22 remodeling projects but a consistent dip in the perceived value of those projects at the time of home sale, as estimated by real-estate professionals in more than 100 metro areas across the U.S. This results in a slight downturn on the return on investment for nearly all projects relative to the trends we saw in last year’s report.” Ideally, homeowners getting ready to move should try to avoid over-investing in big renovations if they won’t make that money back when they sell their house. According to the 2020 State of Home Spending report from Home Advisor: “The average household spending on home services rose to $13,138, an increase over last year’s survey results, where homeowners who did projects spent $9,081 on average in 2019.” Before you renovate, contact a local real estate professional to see if it’s the best course of action. You may find out that putting your house on the market as-is will help you sell quickly, and it may result in the best return on your investment. Every home is different, but a conversation with your agent is mission-critical to make sure you make the right moves when selling this season. Bottom Line We’re in a strong sellers’ market, and that means you have the leverage to sell your house on your terms. Talk with a local real estate professional today to determine if renovating is really the best way to spend your time and money before you sell. The post To Renovate or Not To Renovate Before You Sell appeared first on Keeping Current Matters.

Your health – Always consider your health carefully in your wealth creation. You cannot create when you are not healthy, and you also do not want to be sick once you have created your fortune. A balanced diet, some good exercise, sufficient sleep, getting sunshine, keeping groomed, and so on all lend themselves to being healthy. Include your healthy living plans within your wealth creation strategy. Do not idle– If you are not working at growing your net worth, then it may idle out. Be productive in everything you do, your career, your investment choices, researching your advisor, educating yourself, and so on. Every waking hour can be strategically invested into wealth creation. On the other hand, do not discount that entertainment and leisure is a necessary investment of your time – we all need downtime to recharge our batteries or get gas in our tank. Accumulation of wealth – There is no lottery ticket to instant wealth for most of us. Commit to a life of slow and steady wealth development. You may need to sacrifice the glitz and glamour to build things steadily. Some of the richest people in the world have accumulated wealth without flaunting it, including Warren Buffet. Live your life fully – Many of us commit to building wealth over our lifetime, but we must balance this with living our lives fully. We don’t want to wake up when we are 60 with millions in the bank but having missed out on our active and mobile years. Enjoy your family, your job, good cooking, fine wine, vacations, purchases, and activity all through your life. Lifelong commitment– Wealth creation must be a long-term commitment. Like a healthy diet, it must become something ingrained, rather than a flash in the pan. A well balanced and good tasting financial diet is where you want to be. Avoid a feast or famine diet as they typically are not sustainable. Financial wealth creation can start when you are 5 and follow through to retirement and death. You will want to invest and build wealth for the long term. This does not imply making an investment and hoping it will grow miraculously on its own. Like a home, car, your kids, or pets, you need to care for your investments, measure them, feed them, adjust them and more.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. Joni Alexander is just one of many people receiving beneficiary benefits because their loved one made the decision to join EXIT Realty.   “Every single time […] The post More than $750,000 Paid in Beneficiary Benefits by EXIT Realty Corp. International appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. Last year started off with a bang. Unemployment was under 4%, forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and February activity in over a decade. Then came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide pandemic. Two days later, the White House declared it a national emergency. Businesses and schools were forced to close, shelter-in-place mandates were enacted, and the economy came to a screeching halt. As a result, unemployment in this country skyrocketed to 14.9%. A year later, the economy is recovering, and the U.S. has regained more than half of the jobs that were originally lost. However, some businesses are still closed, and many schools are still struggling to reopen. Despite the past and current challenges, there is one industry that’s proven to be a tailwind helping to counter all of these headwinds to our economy. That industry is housing. Remarkably, the residential real estate market (including existing homes and new construction) has flourished over the last twelve months. Sales are up, prices are appreciating, and more new homes are being built. The housing market has been a pillar of strength in an otherwise slowly recovering economy. How does the real estate market help the economy? At the beginning of the pandemic, the National Association of Realtors (NAR) released a report that explained: “Real estate has been, and remains, the foundation of wealth building for the middle class and a critical link in the flow of goods, services, and income for millions of Americans. Accounting for nearly 18% of the GDP, real estate is clearly a major driver of the U.S. economy.” The report calculated the total economic impact of real estate-related industries on the economy as well as the expenditures that resulted from a single home sale. At a national level, their research revealed that a single newly constructed home had an economic impact of $88,416. Here’s how it breaks down:The map below shows the impact by state:The impact of an existing home sale is approximately $40,000. Real estate has done more for our economic wellbeing than virtually any other industry over the last year. It’s been a beacon of light during a very challenging time in our nation’s history. Bottom Line Whether you’re buying a newly constructed home or one that already exists, you’re making a positive economic impact in your local community – and it’s a step toward your homeownership goals as well. The post What Is the Strongest Tailwind to Today’s Recovering Economy? appeared first on Keeping Current Matters.

Check out this blog by 719Lending Fannie Mae just changed the rules again.  Do you still qualify?   The post Fannie Mae’s New Rules! appeared first on 719 Lending.

Things to do when you are thinking of selling your home. Take care of the landscape (make sure the plants are not dying, grass is mowed, and the property is cleaned up and looks appealing.)Remove clutter from the inside and outside of the house. (This does not mean to throw everything in the garage or a closet. You might have to get some sort of storage container or rent out a storage unit.)A fresh coat of paint goes a long way when you are trying to sell your home. Covers up stains on the walls and makes the house more presentable.MOST IMPORTANT pick the RIGHT AGENT!Have them put a sign up in your yard to create some attention that you are selling your home.Have your agent get some exceptional photos, you may also consider a video tour!Make sure that there is good lighting throughout the home.Hire a professional cleaner.Repair things that your Real Estate Agent pointed out to repair. This will only help you sell your house faster and with more ease.Address and fix all odors. (smoke, pet, dirt, etc..)Make the kitchen appealing. (When buyers come look at a home the kitchen is one of the major selling points.)Second time on the list GET ORGANIZEDRemove your pets. Do not let neighbors sabotage your sale!

Check out this blog by Keeping Matters Current. There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has always been the first rung on the ladder that leads to forming household wealth. As Freddie Mac explains: “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” Odeta Kushi, Deputy Chief Economist at First American, also notes: “The wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is…For the majority of households that transition into homeownership, the most recent data reinforces that housing is one of the biggest positive drivers of wealth creation.” Last week, CoreLogic released their latest Homeowner Equity Insights Report, which reveals the surge in wealth created over the last twelve months through increased home equity. The report makes five key points: Roughly 38% of all homes are mortgage-free The average equity gain of mortgaged homes in the last year was $26,300 The current average equity of mortgaged homes is greater than $200,000 There was a 16.9% increase in total homeowner equity Total homeowner equity reached over $1.5 trillion Here’s a map that shows the equity gains by state:Increasing equity is giving homeowners the power to better manage the challenges of the pandemic, especially for those spending more time at home. In the report, Frank Nothaft, Chief Economist for CoreLogic, explains: “This equity growth has enabled many families to finance home remodeling, such as adding an office or study, further contributing to last year’s record level in home improvement spending.” The financial advantage homeowners have has not gone unnoticed. In the same report, Frank Martell, President and CEO of CoreLogic, states: “This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake.” Increasing wealth benefits more than just homeowners. Last year, the Rosen Consulting Group released a report outlining the benefits of homeownership. In that report, they explained what an increase in net worth – which they call the “wealth effect” – means to the economy: “In economic literature, the wealth effect is a term used to describe the fact that individuals have a tendency to increase their spending habits when their actual or perceived wealth increases. For homeowners, the latent savings achieved by building equity in their home and the growth in home values over time both contribute to increased net worth. Through the wealth effect, this in turn translates to households having a greater ability and willingness to spend money across a wide range of other types of goods and services that spur business activity and provide a positive multiplier effect that creates jobs and income throughout the economy.” Bottom Line Homeownership builds wealth through equity, and this creates a positive impact for homeowners and their communities. Contact your local real estate professional today if you’re ready to invest in a home of your own. The post What Is the #1 Financial Benefit of Homeownership? appeared first on Keeping Current Matters.

Check out this blog by 719Lending Buying a home can be a stressful process, especially when there is a lot of competition in the market. It can seem like there aren’t any good houses left and any that do become available are snatched up quickly. Here are a few options that you have if your purchase offer in Colorado Springs isn’t accepted by the sellers. Keep negotiating. If the sellers came back with a counteroffer, that’s great! It means that they’re interested in something about your purchase offer in Colorado Springs and you just need to come to terms. This happens often in real estate, with many home purchases eventually settling somewhere between the seller’s initial ask and the buyer’s initial offer. This may not be the case in your market, which is why working with a knowledgeable real estate agent can make a big difference in your home buying experience. Give highest and best. If the seller asks for your highest and best, it likely means that they have multiple offers and want to find out what each potential buyer will offer without going into lengthy negotiations with each. This can save you a lot of time, but you should be ready to up your game if you want to be considered. Just make sure that your highest and best offer is one that you can still actually afford. Move on to the next home. There comes a time when the best move for the deal is to move on in your search. Don’t get bogged down if the negotiation just isn’t working out and you are spending too much time going back and forth with the seller without making any progress. Missing out on the chance to purchase what you think is the perfect home can be hard, but don’t get discouraged. It might just mean that there is another home out there waiting for you to make it your own. Back to the hunt! The post What to Do When Your Purchase Offer in Colorado Springs Isn’t Accepted appeared first on 719 Lending.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. by Susan Harrison, Senior Vice President, EXIT Realty Corp. International Five hundred days ago, I started a 30-day challenge to complete Hal Elrod’s daily Miracle […] The post 500 Miracle Mornings appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. Today’s homebuyers are faced with a strong sellers’ market, which means there are a lot of active buyers competing for a relatively low number of available homes. As a result, it’s essential to understand how to make a confident and competitive offer on your dream home. Here are five tips for success in this critical stage of the homebuying process. 1. Listen to Your Real Estate Advisor An article from Freddie Mac gives direction on making an offer on a home. From the start, it emphasizes how trusted professionals can help you stay focused on the most important things, especially at times when this process can get emotional for buyers: “Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.” A real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer. 2. Understand Your Finances Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Doing so make it clear to sellers you’re a serious and qualified buyer, and it can give you a competitive edge in a bidding war. 3. Be Prepared to Move Quickly According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average property sold today receives 3.7 offers and is on the market for just 21 days. These are both results of today’s competitive market, showing how important it is to stay agile and alert in your search. As soon as you find the right home for your needs, be prepared to submit an offer as quickly as possible. 4. Make a Fair Offer It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t make an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive: “Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.” 5. Stay Flexible in Negotiations After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Freddie Mac explains that there are, however, certain contingencies you don’t want to forego: “Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.” Bottom Line Today’s competitive market makes it more important than ever to make a strong offer on a home. Reach out to your local real estate professional to make sure you rise to the top along the way. The post How to Make a Winning Offer on a Home appeared first on Keeping Current Matters.

Check out this blog by 719Lending Inflation and Home Loan Rates Posted: 3-11-2021 As inflation rises, it typically causes mortgage rates to move higher as well.  That’s because inflation is the arch-enemy of interest rates since it erodes the buying power of the fixed return that a mortgage holder receives.  While inflation may look tame to everyone at this time, it’s my job to dig deeper for you.  A look at the closely watched “Consumer Price Index Core Rate” of inflation, which strips out the volatile food and energy sectors, shows a current reading of just 1.3% inflation for the past 12 months.  This has helped interest rates remain low. But in the coming months, the inflation levels are expected to rise significantly, as the readings for the more current months replace the extremely low numbers from 2020.  It’s quite possible to see the rate of inflation rise towards 2.5%.  It’s likely that this will influence interest rates to higher levels. The good news is that inflation is likely to become tamer later this year.  So now maybe a great time for you to take advantage of the low-rate environment before these inflation readings start to move higher. I’m Tim at 719 Lending Inc, contact me to get started before things change.   844-719-5363 NMLS868175 Contact us The post Inflation and Home Loan Rates Posted: 3-11-2021 appeared first on 719 Lending.

El Paso County has over 720,000 people in it, a more accurate number to determine how many people live in the area. This number includes cities like Fountain, Manitou Springs, Monument, and Peyton, all suburbs of Colorado Springs. As the Springs area gets closer to 1,000,000 residents, the dynamics change from a small town to a big one. El Paso County is in the midst of this change right now. Entire neighborhoods that are now commonly known areas didn’t even exist when we first arrived here. Once the expansion of the freeway to Denver is complete, we can expect even more growth over the coming decades. As the population grows, many parts of the town will change as well. The entire area has experienced real estate price increases, but specific neighborhoods have appreciated much faster than others. It’s been great for home sellers and tough on home buyers over the last few years. 

Check out this blog by Keeping Matters Current. Some Highlights With so few houses for sale today, it’s important to be prepared when you’re ready to buy a home. Meeting with your lender early, knowing your must-haves and nice-to-haves, preparing for a bidding war, and keeping your emotions in check are all ways to gain confidence in the homebuying process. If you’re looking for an expert guide to help you navigate today’s lightning-fast housing market, connect with your local real estate professional today. The post How to Be a Competitive Buyer in Today’s Housing Market [INFOGRAPHIC] appeared first on Keeping Current Matters.

Step 1: Identify Your Goal One of the most effective decision-making strategies is to keep an eye on your goal. This simply means identifying the purpose of your decision by asking yourself what exactly is the problem that needs to be solved? And why does this problem need to be solved? Figuring out what is most important to you will help you make good decisions. When you know the reason why you have making a particular decision; it will better serve you in staying with it and defending it.‍ Step 2: Gather Information for Weighing Your Options When making good decisions it is best to gather necessary information that is directly related to the problem. Doing this will help you to better understand what needs to be done in solving the problem and will also help to generate ideas for a possible solution. When gathering information, it is best to make a list of every possible alternative; even ones that may initially sound silly or seem unrealistic. Always seek the opinions of people that you trust or speak to experts and professionals, because it will help you to come up with a variety of solutions when weighing all your options for a final decision. You will want to gather as many resources as possible in order to make the best decision.‍ Step 3: Consider the Consequences This step can be just as important as step one because it will help you determine how your final decision will impact yourself, and/or others involved. In this step, you will be asking yourself what is likely to be the results of your decision. How will it affect you now? And how will it affect your future?This is an essential step because it allows you to review the pros and cons of the different options that you listed in the previous step. It is also important because you want to feel comfortable with all your options and the possible outcome of whichever one you choose.