…Nor’wood Development Group is purchasing Banning Lewis Ranch. An indicator the city continues to grow!
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Home prices on the rise nationally
On a national level, home prices are on the rise. Colorado Springs is a healthy market right now, too, with generally more demand than inventory (especially for the below $225K range). However, this is NOT a market you can flip a home in under 2 years in and expect to profit (generally).
If you’re looking to buy or sell a home in Colorado Springs, I’d be honored for the chance to earn your business! Call Rob at 719-440-6626 or email me at rob@rtrcolorado.com.
Short sales, underwater mortgages and promissory notes
Do you owe more than market value on your home? You may have options, one of which is a promissory note.
While not the best option, it may be possible or advisable if the balance is sufficiently low. (E.g., if you are 5,000 underwater, you may want to do a promissory note.) This MAY enable you to satisfy the sale and avoid the credit hit.
Always consult a Realtor, tax or legal professional as applicable!
13754 Voyager Parkway – near USAFA – former model home
If you’re looking for an amazing home near the Air Force Academy, check out 13754 Voyager Parkway!
CSBJ: Average rents rising…
…some interesting data on the state of the rental market here in Colorado Springs.
We are happy to help you find a home, rental or purchase. Please give Rob the chance to earn your business; call 719-440-6626 or email rob.thompson@theagencycolorado.com or rob@rtrcolorado.com.
What is a “Buyer’s Agency agreement?” (and why does my agent want me to sign one?)
When you make contact with a real estate agent with the intent to buy a home, we will often ask about a buyer’s agency agreement. Specifically, we’ll often ask you to sign with us under this agreement.
What does this mean and why do we do this?
A buyer’s agency agreement is an agreement to use the agent to purchase a home. It does not obligate you to buy a home. Rather, it obligates you as the buyer to use that agent to do so, if they find you a home. An agent will ask you for this as it protects their time, too. We will work many hours to find you a home — this agreement protects that investment of time.
The agreement is not one sided, though. Far from it! For you as the buyer, it establishes a fiduciary relationship with your agent. Here in Colorado, the buyer’s agent:
“…works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer.” (Colorado Definitions of Working Relationships disclosure, 2013)
The specifics of the contract with your agent vary, from duration of the contract (how long will they be your agent for?) to the holdover period (if your contract expires but you buy a home the agent showed you within a certain timeframe afterwards) but the intent is to establish the aforementioned fiduciary duty and protect the interests of all parties.
If you have any questions, please give Rob a call at 719-440-6626.
DISCLAIMER: This post is informational only; it is not legal advice and I am not an attorney. Always consult an attorney if you have any legal questions.
VA loans rock
If you are entitled to a VA loan, you should know these are an incredible entitlement. The loan allows you to buy a home with no money down at market rates. How much home can you afford? This calculator can help you decide.
If you’re looking to buy or sell in the Colorado Springs area, please give Rob a call at 719-440-6626.
For Sale – Lease Option! 500 Columbine Rd, Palmer Lake, CO
Check out this home in Palmer Lake, CO. This home is offered as a lease option for $255,000. ‘Traditional’ buyers welcome, too. Please call Rob at 719-440-6626 or email me at rob@rtrcolorado.com for specific information.
New regulations coming for homebuyers soon…
…looking to buy soon? It may behoove you to lock that loan in this year. Talk to your lender or give me a ring and I can give you the contact # of a good guy I know.
Looking to buy or sell in Colorado Springs? Please give me a chance to earn your business. Call Rob @ 719-440-6626!
What is the MLS?
The MLS is the most accurate system for information on homes. Zillow and Trulia, etc., are good resources but trail by days if not weeks or months in data updates and accuracy.
If you’re looking to buy or sell in Colorado Springs, please call Rob @ 719-440-6626!