Bad Credit vs. No Credit

I’m not a mortgage broker, but as an active Realtor working across Metro Denver, potential home buyers often ask for my professional opinion regarding credit and their ability to get a mortgage – whether they should apply for a loan or refinance, or put it off for awhile.

Whether you have sterling credit, a few dings on your credit, not-so-hot credit or no credit whatsoever, the state of your credit is vital to a potential future home purchase – unless you plan to pay cash for your next new home.

credit-score

The above chart illustrates the facets of your credit history that go into forming your credit score. One point to consider in building credit history is that credit with a few dings is better than no credit at all. If you are planning a home purchase or refinance in the next year or two – or even in the next five years – talk to a licensed mortgage pro or financial planner. I’m happy to provide a few names of people in the business. For more insight, check out this article from Trulia.

Ready to talk shop or plan a home purchase or sale? Drop me a line or pick up the phone – I’m here to help.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate 

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Denver Tops the List for Residential Real Estate Investment

Denver Skyline

According to a July 6, 2015 article in the Denver Business Journal, Denver is at the top of a list of cities offering attractive investment in residential rental properties ranked by HomeVestors of America Inc. 

HomeVestors, a Dallas-based company known for their “We Buy Ugly Houses” slogan, bases this ranking on factors including above-average population growth (check!), 2% or greater job market growth (check!) and low unemployment (check!).

The article discusses the bargains once available to investors in larger markets in the form of Foreclosed properties – but deals in this market segment have largely been picked clean, particularly in population centers like Denver. While these types of deals are harder and harder to find, there are still keen investments available across Metro Denver for the savvy buyer, and rental property – particularly single family homes – continues to be in high demand in this area.

Are you thinking about investing in Denver-area Real Estate? The rental market is incredible in our area, and shows no signs of slowing. The key to wise investing in the rental market is LOCATION (LOCATION, LOCATION), sensible negotiation, and working with a knowledgeable Realtor who knows the local market in your neighborhood of choice and can help guide your search.

Whether you are considering investing, selling, buying, or just want to know more about the Denver marketplace, I’d be happy to chat. Drop me a line or pick up the phone – I’m here to help.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate 

Selling? Avoid these Pitfalls! Part III

Pitfalls

Plan ahead and consult your Realtor to avoid potentially expen$ive mistakes during your home sale. This article is Part III in my series on Avoiding Pitfalls when Selling your Home.

1. If potential Buyers find you at home – they’ll try to ferret out Insider Info!

When you know a showing is scheduled, or if potential Buyers just happen to drop by out of the blue with their agent in tow, make yourself scarce. If you get into conversation with the potential Buyer of your home about when/why you are moving, or any other details pertinent to the sale, you risk losing valuable ground in the negotiation. If you do happen to cross paths with potential Buyers – zip it, grab your keys and go. Let your Realtor do the talking, and just keep walking.

2. Keep Communication Going

Once the process of Selling your home is underway, do everything in your power to be prompt in returning communication with your Realtor and all members of the team. Time is of the essence – particularly in a hot market – and if you snooze, you really could lose. Return emails and phone calls, ask questions when necessary to be fully informed, then make prompt decisions. Sluggish sellers can slow down the process or even lose a potential sale.

3. Your Home’s Online Presence Matters 

Prior to Picture Day, do your best to follow the instructions of your Realtor, home stager or photographer to the letter. Buyers with and without representation will begin their search online, and the first impression they get from photos or videos of your home is incredibly important. Open the blinds and curtains, make sure every space is perfectly tidy, make every bed, remove clutter – pretend the queen is coming for a visit, and tidy/sparkle/shine accordingly.

4. Cooperation Counts

You and the Buyer(s) probably won’t be future neighbors – but neighborly behavior now will go a long way toward ensuring the sale of your home goes well throughout the process. Don’t expect to win every battle along the way; be prepared to give a little on items that will keep the Buyer happy during the process. You don’t have to give away the farm – but your willingness to give and take during the negotiation, with the guidance of your Realtor, will ensure everyone wins in the end.

5. Hire an Experienced Realtor

It’s a jungle out there for Sellers and Buyers – but there an experienced Real Estate pro will be able to guide you through the process from Listing to Sale to the search for your next new home. If your goal is to sell your home for the most money possible in the shortest amount of time, you’ll need an experienced Realtor by your side to make it happen.

Call me to learn more about the Housing Market in your neighborhood. I look forward to hearing from you!

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate