Friday Fun Fact – How’s the Market?

Click here to see how the market is doing!
9W7amgJuvzwLY364mQBpOrwNOX7iAw-zMWpYgLHM8iao8asauzzK5C1JI5hAWEj8FHftjLiRVGa22wB8elNx0kErizB3H7jbnx2xPeD29dBd4hrk-hbCuIgJTO7f4y9bs0-d-e1-ft.png


Posted on September 13, 2019 at 9:40 pm
John Taylor | Posted in Uncategorized |

How to Save for a House While You’re Renting

7 Simple Money-Saving Tips for Renters

content_Blog_Refresh_Your_Home.png

 

Get a roommate. One of the easiest ways to cut your rent in half and save some big bucks is by finding a roommate. Think half the rent cost, half the utility bills, internet and cable. That adds up to some serious savings that you can apply toward your down payment. Check out these seven tips for living with a roommate.

Pay off your credit card debt. This one might seem counterintuitive — after all, you’re trying to save money, right? But it’s important to remember that your credit score and debt-to-income ratio are pretty big factors that lenders consider when deciding whether you qualify for a loan. So, when it comes time to get a mortgage, you’ll be glad you tackled that outstanding debt ahead of time.

Rent to own. This is an option for those who are interested in a property, but still need to save up cash for a down payment or build their credit score. When you’re in a rent-to-own agreement, you typically pay a one-time, non-refundable fee called “option money”, which gives you the opportunity to purchase the house in the future. Usually this price ranges from 2 to 7 percent of the purchase price of the house — a price that you and the seller will agree upon.If you’re renting a house, check with your landlord that it’s okay to run a garage sale on the property.

Budget basics. Now that you’ve set a big financial goal, it’s important to figure out a budget and stick to it. A good rule of thumb to follow is the 50/30/20 rule, where you allocate a portion of your paycheck into three categories: 50 percent towards essentials, like food and housing; 30 percent towards lifestyle, like dinner out or other entertainment; and 20 percent towards financial priorities, such as debt, retirement and savings. Since you have your sights set on a new home, try moving 5 to 10 percent of your lifestyle budget into the savings category. It might be challenging, but you’ll reap the benefits when you see your home getting closer and closer!

Ditch the unnecessary. We’re sure you’ve heard this one before, but we’ll say it again: consider cutting back on superfluous expenses. Sure, eating out and shopping are fun and entertaining indulgences, but they add up to hundreds, if not thousands of dollars, a year. For the time being, try spending less on non-essentials and you might be amazed at how much you’re saving. It’ll be worth every penny when you’re turning the key to your new home.

Set up shop. Believe it or not, a garage sale can put some serious savings in your pocket. Since you’re a renter, you might not have the space or be allowed to run a garage sale out of your abode, so ask family and friends if they have a garage to spare for a weekend.

Save your tax refund. Sure, it’s nice to get that refund check come tax season. A shopping spree, a new bedroom set, maybe a beach vacation — all fun things you can do with that “extra” income. Resist the urge to spend it on the impractical and instead stick it in your savings account.


https://www.amfam.com/resources/articles/money-matters/saving-for-a-house-as-a-renter


Posted on September 11, 2019 at 8:18 pm
John Taylor | Posted in For Buyers, market news, Northern Colorado Real Estate |

COMING SOON – GORGEOUS RANCH

4377 Golden Currant Court | Johnstown, CO 80534


$590,000

4 BEDROOMS

3 BATHROOMS

3 CAR GARAGE

3,493 SQ FT

Welcome home to this beautiful open floor plan ranch with a fully finished basement and elegant interiors. Enjoy the tranquil backyard while relaxing by the fire pit on a patio surrounded by beautiful landscaping, vegetable garden and apple trees. This spacious home offers elevated ceilings, hickory hard woods, and a stylish stacked stone corner fireplace in living room. A gourmet kitchen boasts a large pantry, soft close 42″ cabinets with crown molding, and granite island accessorized with custom lighting. Main floor has a desirable master bedroom coupled with an elegant 5 piece en suite master w/soaker tub and two additional bedrooms. The high-ceiling basement complete with wet bar, one bedroom, and bonus room for a spacious guest retreat. This gently used Amelia Plan, Bridgewater Home with over sized 3-car tandem garage won’t last long.

 


JOHN TAYLOR | 970-541-1003 | JT@REALTORJOHNTAYLOR.COM


Posted on September 9, 2019 at 6:29 pm
John Taylor | Posted in For Buyers, Northern Colorado Real Estate | Tagged , , ,

Friday Fun Fact – Nationally home prices have gone up!

Hot off the Press the new Federal Housing Finance Authority report!

The Federal Housing Finance Authority ranks 241 major metropolitan areas across the United States for yearly home price appreciation. The current report shows that, nationally, home prices have gone up 4.99% over the last 12 months. Colorado has 5 major metropolitan cities ranked in the 241 cities across the United States.

Here’s how the major cities rank:

        #22   Greeley = 7.94%
#27    Colorado Springs = 7.64%
#63    Fort Collins = 6.34%
#133  Denver = 4.83%
#188  Boulder = 3.41%

** Interesting fun fact: In the WORST economy of our lifetime (2008 recession), home appreciation in Fort Collins only went down 2.2%. Compare that to places like Las Vegas that went down by over 35%**

Posted on September 6, 2019 at 4:56 pm
John Taylor | Posted in Economy, For Buyers, For Sellers, fun facts, Housing Trends, market news, Northern Colorado Real Estate |

How much is your home worth in Northern Colorado?

If you’re thinking about selling your home, knowing how much it could be worth is a great place to start! Get a free estimate now!

content_Blog_House__1_.png

 


Posted on September 4, 2019 at 4:59 pm
John Taylor | Posted in For Sellers, Housing Trends, Living, market news, Northern Colorado Real Estate |

Friday Fun Fact – Home Prices Across the Nation

 

bmnkubnViAWTbYWNXtJYRygy1M5LGM_DqTqb8CX8-B7sNKoOcDsanUrqi8yF36RjP2Ue4K47-EAd_v8l1QRF6uon7xq_Sgqw-uvxTdGeIu6Ic2DhM06O0qC8z9BzzY5bS-NdD3EgyWhUX9rZZPv_JifQwHYY9x9zslIs0-d-e1-ft.png

 

 

 

 

 

 

 

Case-Shiller

The Case-Shiller Home Price Index is a well-known report in the real estate industry and a valuable way to gauge what is happening in various markets across the Nation.

The report tracks home price appreciation in the 20 largest markets in the country.

Their most recent report shows that, Nation-wide, home prices are up 2.1% year-over-year.  Last year prices were rising at 6.3%.  So, prices are still going up but not as fast as they were.

The city with the highest appreciation over the last 12 months is Phoenix with 5.8% growth followed closely by Las Vegas at 5.5%.

Denver came in at 3.4% which makes it tied for 8th place out of the 20 cities.

 


Posted on August 30, 2019 at 1:04 pm
John Taylor | Posted in For Buyers, For Sellers, fun facts, Housing Trends, market news, Northern Colorado Real Estate |

Get the Windermere App!

Stay up-to-date on the latest happenings…

The Windermere Hub App gives you access to the latest and most important news and information about Windermere. No matter where you are, you can stay connected, informed, and keep your pulse on the latest at Windermere whether it be by reading updates about the company or checking out the latest social content.

                      


Posted on August 28, 2019 at 4:47 pm
John Taylor | Posted in For Buyers, For Sellers, market news, Northern Colorado Real Estate, Windsor Real Estate | Tagged

See what my clients are saying on Google!

Click the link to access all

25 of my 5-Star Reviews!


Star Carson – August 25, 2019

John was super helpful! We were out-of-state buyers who didn’t know the area very well, so he took his time showing us different areas In good school districts. He made sure the process flowed smoothly, which took the stress off of us. Would definitely work with again!

Cesar Gonzalez – August 25, 2019

John helped us purchase our first home from start to finish and we couldn’t be happier. He even helped us find the perfect mortgage broker for our situation. He went above and beyond to make sure we were satisfied with our new home.


I am passionate about helping my clients realize their dreams, whether you are a first time home buyer, investor, seeking your dream home or a special property in the colorful Colorado countryside. I will meet you wherever you are in the process, and match your sense of urgency with a commensurate level of communication.

– John Taylor, 970-541-1003, jt@realtorjohntaylor.com


Posted on August 26, 2019 at 5:29 pm
John Taylor | Posted in For Buyers, For Sellers, fun facts, Northern Colorado Real Estate, Uncategorized | Tagged ,

Friday Fun Fact – A Closing Window for Home Sellers

Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.

Here are the specific numbers behind this…

The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.

That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.

For sellers who have homes on the market today, it is time to ensure that:

  • The home is priced right versus the competition
  • All of the marketing elements are in place
  • It is easy for a buyer to make an offer on the home

Posted on August 23, 2019 at 8:29 pm
John Taylor | Posted in For Sellers, fun facts, Housing Trends, market news, Northern Colorado Real Estate |

What to Consider Before You Build

If you’re short on space but don’t want to move, a home addition is an attractive way to solve your woes and turn your current home into your dream home.

Whether you’re adding a whole new room or a more modest addition, it can turn into a major construction project; with architects and contractors to manage, construction workers traipsing through your home, hammers pounding, and sawdust everywhere. Although new additions can be a great investment, the cost per-square-foot is typically more than building a new home, and much more than buying a larger existing home.

Before you make the leap, consider the following:

Define your needs

To determine if an addition makes sense for your situation, start by defining exactly what it is you want and need. By focusing on core needs, you won’t get carried away with a wish list that can push the project out of reach financially.

If it’s a matter of needing more space, be specific. For example, instead of just jotting down “more kitchen space,” figure out just how much more space is going to make the difference, e.g., “150 square feet of floor space and six additional feet of counter space.”

If the addition will be for aging parents, consult with their doctors or an age-in-place expert to define exactly what they’ll require for living conditions, both now and over the next five to ten years.

Types of Additions

Bump-out Addition

“Bumping out” one or more walls to make a first-floor room slightly larger is something most homeowners think about at one time or another. However, when you consider the work required, and the limited amount of space created, it often ends up to be one of your more expensive approaches.

First Floor Addition

Adding a whole new room (or rooms) to the first floor of your home is one of the most common ways to add space to a home. You can easily create a new family room, apartment or sunroom. But this approach can also take away yard space.

Dormer Addition

For homes with steep rooflines, adding an upper floor dormer may be all that’s needed to transform an awkward space with limited headroom. The cost is affordable and, when done well, a dormer can also improve the curb-appeal of your house.

Second-Story Addition

For homes without an upper floor, adding a second story can double the size of the house without reducing surrounding yard space. But be cautious not to ruin the value of homes next to you when you do this, the second story might not be worth the drama on your block.

Garage Addition

Building above the garage is ideal for a space that requires more privacy, such as a rentable apartment, a teen’s bedroom, guest bedroom, guest quarters, or a family bonus room.

Permits required

You’ll need a building permit to construct an addition—which will require professional blueprints. Your local building department will not only want to make sure that the addition adheres to the latest building codes, but also ensure it isn’t too tall for the neighborhood or positioned too close to the property line. Some building departments will also want to ask your neighbors for their input before giving you the go-ahead.

Requirements for a legal apartment

While the idea of having a renter that provides an additional stream of revenue may be enticing, the realities of building and renting a legal add-on apartment can be sobering. Among the things you’ll need to consider:

  • Special permitting—Some communities don’t like the idea of “mother-in-law” units and therefore have regulations against it, or zone-approval requirements.
  • Separate utilities—In many cities, you can’t charge a tenant for heat, electricity, and water unless utilities are separated from the rest of the house (and separately controlled by the tenant).
  • ADU Requirements—When building an “accessory dwelling unit” (the formal name for a second dwelling located on a property where a primary residence already exists), building codes often contain special requirements regarding emergency exists, windows, ceiling height, off-street parking spaces, the location of main entrances, the number of bedrooms, and more.

In addition, renters have special rights while landlords have added responsibilities. You’ll need to learn those rights and responsibilities and be prepared to adhere to them. Be sure to talk to your Windermere Real Estate Agent or a local Property Manager about municipal, state, and federal laws.

Average costs

The cost to construct an addition depends on a wide variety of factors, such as the quality of materials used, the laborers doing the work, the type of addition and its size, the age of your house and its current condition. For ballpark purposes, however, you can figure on spending about $200 per square foot if your home is in a more expensive real estate area, or about $100 per food in a lower-priced market.

You might be wondering how much of that money might the project return if you were to sell the home a couple years later? The answer to that question depends on the above details; but the average “recoup” rate for a family-room addition is typically more than 80 percent.

The Bottom Line

While you should certainly research the existing-home marketplace before hiring an architect to map out the plans, building an addition onto your current home can be a great way to expand your living quarters, customize your home, and remain in the same neighborhood.


Posted on August 23, 2019 at 10:49 am
John Taylor | Posted in For Buyers, For Sellers, Housing Trends, Living, Northern Colorado Real Estate | Tagged , , ,