How Do I Get The Money To Fix Up That Home?

Have you been looking at homes out there that, let’s just say, need some TLC? Maybe even a bit more than that? There are many, many opportunities for home purchases in the Denver real estate market that may need some cash put into renovation to get the home in a more acceptable condition or in some cases, just improved upon to make it more the dream home.

When I’m working with Denver real estate buyers and investors, I come across the dilemma often. The home may be perfect as a rental, fix and flip or dream home but it needs some work and the buyer just doesn’ have the cash flow to do it or the desire to take out additional loans for the cash. Can you see yourself in this situation?

rennovation home needing financing

 

The solution may be renovation financing.  There are many benefits to this type of financing that can enable you to make repairs, add a bath, remodel the kitchen or even add rooms or extend the home in some cases.  The possibilities are extensive and the benefits as well.  In fact, here are a few of the benefits you might consider:

  • Lower payments – the purchase and improvements are financed together so renovation costs are spread out over the term of the loan
  • Speed – renovation may be possible to begin immediately after closing
  • Flexibility – There’s no required improvements or restrictions, in fact some luxury items may be included
  • Finance Options – fixed and adjustable programs available
  • Tax – interest on the renovation costs included in the first mortgage, so there may be deductions
  • Finance more – the loan amount is based on the after improved value
  • Simplicity – one loan application, one set of fees, one closing and one payment

If you have been considering a real estate purchase in the Denver market and may have been concerned with cash flow for improvements, let me help you find the way to make this happen.  Not all lenders have this valuable financing available.  I have the resources, let me help you make this your reality.  Feel free to search the site for homes and when you’re ready to go look and negotiate I would love to help.

Photo courtesy of Flickr Creative Common License of iluvcocacola

Considering Renting? | Watch This First


Interest rates are still very low which makes homes more affordable and owning versus renting something to seriously consider.  In this video I’ve put together a scenerio calculating a rent vs buy situation on a starter level price.  There are fewer homes in inventory in the Denver real estate market now and homes in the lower price ranges do tend to sell quick.  If you may be considering a home purchase in any price range, I can help you understand the costs and values in the market.

Please call, text or email and I’ll be happy to help you with your real estate needs either buying, selling or investing.

Douglas County Year End Market Data

Here are the real estate statistics for Douglas County, CO, which includes Highlands Ranch. These numbers are for December 2011 and year to date for 2011.

Above information in the video is based on Information from Metrolist, Inc. Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist,Inc. does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Douglas County Real Estate Data | September 2011

In the video below, I take you through the real estate statistics for Douglas County, CO through the end of Q3 2011 as well as a comparison for the month versus last year.

Above information in the video is based on Information from Metrolist, Inc. Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist,Inc. does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Key Real Estate Market Metrics | Regional Statistics

In the video below, I’ll show you some of the key real estate market metrics for the region over the last 5 years, ending in 2010.


Above information in the video is based on Information from Metrolist, Inc. for the period Jan 1, 2006 through December 31, 2010. Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist,Inc. does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Highlands Ranch Market Activity | August 2011

Highlands Ranch Real Estate Market Sales Report August 2011

Highlands Ranch real estate inventory remains pretty low again this month. There is less to choose from and fewer buyers making these choices.  Surprisingly, since interest rates remain at all time lows and sellers are mostly pricing very competitively.  Another sign of the times, I think, with concern abouth the ecomonmy in general. The months of inventory for homes priced above $500k have crept up some making the switch to a buyer’s market for the most part, with the exception this month for the $900k-$1M market.

So now more than ever, sellers need to stay focused on price, condition and keep in tune with the market. We’re winding down the summer season and heading into Fall. There are still plenty of folks that want to purchase their home this year and settle in before the holidays.  So keep competitive and ready.

Buyers can still take advantage of the biggest factor in leveraging your purchasing power, interest rates! Rates impact buying power far more than typical price adjustments.  So with less inventory to pick from, when you find the right home it is a great time to “pull the trigger” and make it happen. The best inventory still sells the fastest, always.

If you’re looking to sell or buy in Highlands Ranch or anywhere in the Denver area, contact me I would love to help.

denver mls homes search

 

 

 

 

 

 

 

 

Denver Area Home Owner Tips | PRV Valves

Have you had water pressure changes in your home?  Maybe a rattling of the pipes, or in my case a hammering of the pipes when the sprinkler system turned on.  That can mean plenty of things happening in the plumbing and it can lead to big repairs later on if you don’t take care of it.  Or it can just be a fairly simple problem with an easy fix.

Highlands Ranch homes as well as many homes in many areas of Denver may be equipped with pressure reducing valves. The Centennial Water District has written an article on pressure reducing valves, or PRV valves.  The article is very informative and helps with an understanding of why they are there and signs that they may need to be replaced or adjusted.

PRV ValveI really didn’t know the pressure reducing valve was my problem. I had to have a hot water heater replaced and I asked the plumber what it could be at the time.  He immediately checked the pressure, discovered that it was way too high for the home and once he replaced the valve, everything is working as it should now. I really haven’t noticed any change in the pressure from the sinks or showers at all, which I thought would happen.

Take time to maintain your home, it is a very valuable investment.   There are plenty of things that you may be able to handle yourself with a few trips to the home improvement store.  If it is a job that requires more experience and expertise, get in touch with a handyman of contractor to have it done.  In any case, don’t neglect your home since little problems can often turn into huge, costly problems later on.  If you need referrals for different contractors, plumbers, electricians, handyman, etc…just let me know and I’ll be happy to point you to a proven professional.

 

denver mls homes search

What’s Hot in Kitchen Counters

In every home the kitchen remains the room with the most focus.  Have you ever noticed that? Perhaps it is because we all use it nearly every day to prepare meals, grab a snack or start the day off with coffee or tea.  If you entertain, you almost always find the kitchen is the one room that most congregate in. Of course, that is usually where the food and beverage are but folks still hang out in the kitchen just to talk.  It has an easy going atmosphere.

With such big focus on the kitchen, you may be thinking of a remodel, design or spruce up. Cabinets are difficult and expensive to change out, often the best bet is a re facing or paint.  However, the counters are another big focal point and with counters come a lot of choices.  Kitchen counters can totally change the look and feel of the entire home. So what is HOT these days?

Kitchen CountersGranite is still a good bet.  High quality, slab granite can really make a statement in the kitchen. However, the days of granite being in only high end, luxury homes is long gone.  Most builders offer granite in even mid level homes.  One trend emerging is the use of engineered quartz.  Quartz can be produced in many color choices, some even very vibrant. Another trend is glass. Glass can be designed and colored to really compliment the look of the kitchen, often lit from below to create a very unique glow for a look and feel much different from the average kitchen.  Marble and other natural stones are also coming back into style.

Kitchen counters can definitely make a huge difference in any home.  Don’t forget to compliment the counters with an attractive back splash if the space calls for one.  Back splash is usually a different material that sets off, or compliments the counters. Make sure it is durable enough to do it’s intended job which is to protect the walls around the kitchen counters from water and other liquids.

If you’re considering a change in your kitchen counters, take a few trips out to the home improvement stores, model homes, designers showcases or just thumb through home magazines for ideas, inspiration and the latest trends. If you may be considering selling your home here in Denver and wonder if this type of an improvement is needed, give me a call or email and I would love to come by to visit and give an honest opinion.

 

The New SteveScheer.com Denver Real Estate Site

If you have been visiting my Denver real estate site lately, you probably have been forwarded here, directed there or wound up on one of my other sites.  I have been making changes and I am getting closer.  Today you are on the beginnings of the finished product of SteveScheer.com.  It is still a work in process, lots of pages and real estate information to bring over, but it is on its way.

The Denver homes search is up, and I know that is what most of you are looking for.  So search away!

Hope you like it!

Highlands Ranch Market Activity | July 2011

Highlands Ranch real estate market data July 2011

July statistics indicate that Highlands Ranch real estate is pretty balanced in nearly all price ranges.  Overall inventory is still lower than previous years numbers, however for the inventory we have to work with, things look optimistic for sellers.

The bulk of the activity is once again, between $200-$400k.  This price range is attractive to many first time home buyers and with interest rates now at incredible lows, I forsee this activity to continue through the August statistics.

Sellers can know that the inventory levels favor them as far as supply/demand in the Highlands Ranch real estate market.  However, I caution again that an overpriced home in less than good condition will struggle to sell in any market.  Pay attention to the trends in your neighborhood.

Buyers continue to have mortgage rates at all time lows, so if you are borrowing to purchase your Highlands Ranch home then now may be the strongest buying power you may have, maybe ever.  Take advantage of the mortgage markets and if you find the home you love, act on it more sooner than later.  Supply remains low and the best inventory never lasts long.

If you want help finding your next Highlands Ranch home or selling your existing home, please let me know.  I follow the market values and with nearly two decades of experience, I would love to help you out as well.