As a new homeowner, there are six mistakes you should be sure to avoid.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleIn your first year of homeownership, there are six key mistakes that could cost you a lot of money. Today, I’ll be going over these common missteps. Going with the lowest bid. Getting multiple bids is important to make sure your home projects are done correctly. Quality matters, so the lowest price isn’t always the best choice. Submitting small insurance claims. Check with your insurance rep and look at your deductibles. Sometimes, making small claims doesn’t make sense if it will increase your rates. Even an extra $25 a month will add up through the months. Making improvements without checking the return on investment (or ROI). Before you change anything in your home or make any updates, it’s important to know whether it will be worth it. “Ignoring small issues could create bigger issues later on. ”Throwing away receipts or paperwork. This could cause you a lot of issues down the line if you need to provide proof of a certain repair or proof of warranty. So, make sure you keep track of important paperwork. Remodeling without doing research. If you want to do a remodeling project, speak with a professional first to find out whether it will actually pay off. Ignoring small items on your inspection list. Every home out there will have small issues that need to be amended. It is important that you don’t ignore the little maintenance items your home may need. Ignoring small issues could create bigger issues later on.If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Angela Fox Broker Associate podcast

6 Common but Costly Homeownership Mistakes

There are a few odd and trendy features of your home that can increase the value of your home.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleRecently, I was asked a question that kind of stumped me: “If I live close to a Starbucks, will that increase the value of my home?”I really had to think about it and do some research, and I found out that Zillow did do a survey on the topic in 2015.Pulling data from between 1997 and 2014, they found that homes within a quarter mile of a Starbucks had increased in value 96% during that period. Was that caused by the increasing market in that period, or was it caused by the Starbucks itself? I still don’t know exactly where that number falls, but I don’t think it could hurt your home’s value at all. “Pulling data from between 1997 and 2014, studies show homes that were within a quarter mile of a Starbucks had increased in value 96%. ”Another surprising factor that might increase your home’s value is its color. Another survey shows that homes with kitchens that have been painted blue, as opposed to white, sold for $1,800 more. If they had a baby blue or periwinkle bathroom as well, those homes actually sold for over $5,000 more.Further still, other trendy features can add value to your home: farmhouse sinks and barn doors. Barn doors, specifically, are trendy features. Zillow looked at over 2 million homes that were sold nationwide with the words ‘barn door’ in their listing sold 57 days faster than the average and for 13% more.Finally, how close to the city are you? We’re seeing that homes that are in an urban area versus a suburban area will, on average, be worth 35% more in value.If you have any questions or feedback for us, feel free to reach out to us. We love to hear from you.

Does Living Near Starbucks Increase Your Home Value?

If you plan on listing your home in 2018, there are five things I recommend you do in preparation.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleAre you thinking of listing your home in 2018? I’ve been getting so many calls and making so many appointments already in these first two months of the year.Today, I want to bring you a few tips you can use right now if you plan to put your home on the market this year. The first thing you can do is neutralize the house. Bright and unique paint colors are fun, but when you list your home you want to reach a broad audience. Neutral colors will give you a wider appeal. Buyers want to envision themselves in your home. You live in your home one way, you put it on the market in another. Before you put your home up for sale, consider stowing away some personal touches that may be unique to you. Depersonalizing will do a lot to boost your listing’s potential.“You can tell a lot about a home by the condition of the front door. ”Decluttering is another tip that I can’t emphasize enough. If you’re thinking of listing in the early spring, why not pack away summer clothes you won’t be using while you’re living there? Go ahead and put away the items you aren’t using. This will open up a lot of space in the home and help to show off its features. Don’t forget the exterior of your home. Here in Colorado, a piece of advice I stand behind is that you shouldn’t plant flowers before Mother’s Day. If you’re listing before then, there are still ways you can boost your curb appeal. Add fresh mulch, make sure your sprinkler system is in working order, and add a fresh coat of paint to the front door. You can tell a lot about a home by the condition of the front door, so make sure yours leaves a positive first impression. Finally, make sure big projects like kitchen or bathroom remodels are worth the investment by speaking with a professional about what kind of returns you will see. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

5 Ways to Prepare Your Home for the Market

How do you know if it’s time to move to a different home? These are the seven signs that it might be time to make that change.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleThere are seven signs that signal that it is time for you to move:The average homeowner moves every seven years. If you’re getting close to the time frame, you might be feeling that seven-year itch and are looking for something else. Are you expecting children? The home that you’re in currently may be bulging at the seams, so you might need to upsize to a larger home. It could also be that you’re looking to move to a different area of town as the kids grow older.You need to live within your means. Sometimes, when people get promotions at their job, people want to elevate their lifestyle, which can mean changing where they live. When remodeling just won’t give them the bang for their buck, moving into a next-level dream home is the way to go.Your children have moved out. A lot of empty-nesters eventually realize that they have too much space and would prefer a lock-and-leave home so they can travel and fulfill their bucket list. If you find that you need to downsize it may be time for you to move.“A lot of empty-nesters eventually realize that they have too much space and would prefer a lock-and-leave home. ”You’re getting married. When people get married, they often want to have a new space of their own to get a fresh start.On the other hand, perhaps you’re going through a divorce. This is another reason to get a fresh start in a new home.You need a better commute time. Especially in the Denver area, with all the people moving to the city, the time it takes to get to work is very important to consider. If you take an hour and a half per day to get to work 50 weeks of the year, that’s 375 hours that you’re on the road. You may need to move somewhere closer to your work to reduce that figure.If any of these signs ring a bell with you or someone you know, we’d love to talk to you. Feel free to reach out to me by phone, text, or email.

Is It Time For You To Move to a Different Home?

Lately, we’ve been seeing five kitchen trends stand out as having real staying power. If you’re planning on doing a renovation soon, you should consider them.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleHere are five of the latest kitchen design trends with legitimate staying power: 1. Fewer upper cabinets. This doesn’t necessarily mean that people want less storage. It means, rather, that they want a less cluttered look to their cabinets. What we’re seeing is you have to be a little more creative in finding other spaces to store the kind of important things that upper cabinets use to store. 2. Comfortable seating areas. We all know that everyone hangs out in the kitchen when you’re entertaining company, so we’re seeing the addition of more “soft” spaces or seating areas in kitchens where people can relax while others are entertaining or cooking. 3. Steam convection oven. With everyone on a health kick because we’re still near the beginning of the new year, we’re seeing more of these types of ovens, which allow you to steam your food. “All homes are being connected to devices in one way or another, and we’re seeing kitchens follow suit. ”4. Induction cooktops. These have been popular in Europe for many years, but they’re just now catching on in America. Induction cooktops have a glass-metal surface with coils underneath. The coils don’t heat up until they have a magnetic connection with your cookware, so when you take your cookware off, the surface is cool again and you don’t have to worry about a lingering hot stove. These also allow you to save energy. 5. Smart kitchens. All homes are being connected to devices in one way or another, and we’re seeing kitchens follow suit. Some of the more popular additions we’re seeing are refrigerators with cameras inside them to remind you which groceries you need and touch faucets. If you have any questions about renovating your kitchen or you’re thinking of buying or selling your home, give me a call or shoot me an email. I’d be glad to help you.

Make Your Kitchen Renovation Count With These 5 Trends

Today I’d like to kick off the new year by looking back at last year’s market.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleToday, I’d like to start the new year off by taking a look back at last year. So, what can we learn from the 2017 market?First of all, homes are still selling quickly. If you’re in the market looking for homes, you need to make sure you’re prepared ahead of time.We’re also seeing that homes are in short supply. Though it isn’t a bad time to buy, we’re definitely in a seller’s market. “Though it isn’t a bad time to buy, we’re definitely in a seller’s market. ”Buyers who are looking for property right now will need to work with an experienced agent in order to find success in this highly competitive market. Additionally, there are currently a lot of flipped or remodeled homes coming on the market. This has been a big part of our market lately. People who have been holding onto rental properties for years are now beginning to list. These kinds of homes are definitely driving up prices in our market.The last thing I’d like to make you aware of is that it’s still a great time to buy. Buying instead of renting will still save you money in today’s market. On top of that, why would you want to put your money toward someone else’s mortgage, anyway?If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Can We Learn From Last Year's Market?

I have an exciting announcement to make. It’s great news for everybody.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleI’ve got some very exciting news to share today. Each one of you is a dedicated friend or client, so I wanted you to be the first to know. I’m proud to announce that I’m a new broker at Re/Max Urban Properties! You’ll be hearing a lot from me in the upcoming weeks and months about how we will be making a positive impact in the industry. What I want you to know today is that my team and our dedication has not changed. In fact, our passion is stronger than it has ever been. Our purpose is to serve you with extraordinary customer service delivered with kindness, knowledge, professionalism, and gratitude. We want to exceed the expectations of buyers and sellers while also having a profound and positive impact on the lives we serve. “Our dedication has not changed. ”I just want to thank you for continuing to support me through the years, sending your referrals, and letting me be part of your life. I truly appreciate it. If you have any questions for me in the meantime, give me a call or send me an email. My company may have changed, but my contact information hasn’t! I look forward to hearing from you soon.

An Exciting Announcement for You

Today I’d like to share an example of why list price doesn’t matter as much as it might seem.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleIf you’re a buyer on the market right now, I’ve got some key information that could be helpful for you. Currently, there isn’t a lot of inventory. We’re in a strong seller’s market and we aren’t seeing many negotiations on price. In other words, if you fall in love with a house, don’t get caught up on the list price. I was recently helping a client look at properties when they fell in love with a home listed at $545,000. The client wanted to submit an offer of $525,000, so that’s what we did. The seller came down $10,000 from their list price to $535,000. My clients, who were going to put 20% down with an interest rate of about 4%, couldn’t decide what to do. To help them make their decision, I used a great tool I keep on my phone to show them the difference that $10,000 would make. While $10,000 is a lot of money in general, it isn’t enough to worry about when you’re trying to secure the perfect home. “Is $38 really worth losing out on the right home? ”For my clients in this particular situation, that $10,000 would only really have amounted to a $38 difference in their monthly payment. Think of it this way: is $38 really worth losing out on the right home? Once I showed this information to my clients, they were more than happy to move forward with purchasing the home of their dreams.If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Don't Let a Home's List Price Scare You Away

If you’re a homebuyer, there are five terms you need to know that will help you understand the home buying process far better.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleHere are five terms that will help you navigate the home buying process by understanding what they mean: 1. Appraisal: This is a professional valuation of a property done by an appraiser. If you’re obtaining a loan to purchase your home, they’ll be hired by your lender. If you’re purchasing the home with cash, you can also hire the appraiser yourself. The appraisal will determine the proper value of the home by pulling comparable properties.2. Closing costs: This is a bulk term for all the costs you’ll need to close your loan and get to the closing table. The lender’s fee, tax costs, and insurance costs are examples of what’s included in the closing costs. There may be other costs involved, too. If you’re buying a property within a homeowners association, for example, there may be a fee to transfer your name into ownership. 3. Down payment: This is how much money you’ll put down in order to purchase the home. The more you put down, the less of a risk you represent to the lending institution giving you your loan. Some people pay 5% to 10% down, while others go as high as 20% in order to avoid mortgage insurance. Certain FHA loans allow you to put down as little as 3%, and if you’re a veteran, you can qualify for a VA loan and put no money down. There are many programs out there that can help first-time homebuyers get into a home. 4. Credit score: This is another way a lender can examine your credit history and determine how likely you are to repay the loan they give you. A credit score can range anywhere from 350 to 850. Only about 55% of loans used to purchase a home are for scores lower than 750. Don’t worry, though—if your score isn’t above 750, you can still get a great loan. 5. Pre-approval letter: This is a letter you provide to the seller stating that you’ve already been approved by a lender. In order for you to be approved, a lender will look at your assets and income and, more importantly, they’ll start collecting data. The more information you can give to a lender before you start house hunting, the more successful you will be. “The more information you can give to a lender before you start house hunting, the more successful you will be. ”If you have any questions about these terms or you’re thinking of buying a home in our Denver market, don’t hesitate to reach out to me. I’d be happy to help you.

5 Terms to Help You Navigate the Home Buying Process

If you are going to sell your home this winter, it’s extra important that your property is properly staged. I have a few tips to help you today.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleAs we head into the fall and winter, it’s extra important that your home is perfectly staged for the market. First of all, work on your curb appeal. There is a lot of pent-up demand in our market. As soon as the “For Sale” sign goes up in the yard, buyers will come up to see the house. Consider getting new house numbers, adding a nice welcome mat, painting the door, painting the exterior of the house, or power washing the house. Next, what is the ambiance like inside the home? Any dark rooms need to be brightened up with extra lamps. Turn on lights during showings and add a soft scent like vanilla to your home. Just like one or two candles, though. If you have a whole bunch of candles, it may seem like you are trying to cover up a smell. “Your home needs to feel warm and inviting. ”Another thing you want to do is make sure that you can see the floors in order to show the groundwork. It’s fairly common for sellers to have a lot of furniture, and our goal is to open up the space. Rugs can make a space feel smaller, too, especially if you have a rug on top of a rug. We’ll take the rugs out of the room and take away some furniture to open up the room and make it brighter. You’ll also want to emphasize any architectural designs. You may have an odd space under the stairs that can be used as a reading nook, an artist’s retreat, or a storage space for toys. Show that space off. Finally, consider this scenario. If you are going out to look at a home this December, we all know that it’s going to be dark outside here in Colorado by 5 o’clock. So it’s dark and cold out, and you go to look at two houses by the same builder with the same floor plan on the same block. One house is vacant, dark, and cold. The other has been lit up, staged, and really feels like home. Which one would you pick? Obviously, you would be more inclined to purchase the staged home. A buyer would be willing to pay more money for the staged home than the one next to it, even though they are the exact same. That’s why it’s so important to make sure your home is properly staged when selling this time of year. If you have any other questions about selling your home or would like to learn more about our current market, just give me a call or send me an email. I would be happy to help you!

A Few Quick Tips for Staging Your Home This Fall

We’re in the Halloween spirit today. Here’s a real “ghost” you need to be aware of.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleWith Halloween right around the corner, I figured it would be a good time to give you some important information so you can make sure that you don’t have any “title ghosts” hiding behind your house.If you’re getting ready to sell your home now or at any point in the future, you need to make sure everything is in order for you to convey a clean title to the buyer who will eventually purchase the home. Judgments and liens could be put on your house without you even knowing it. We want to make sure that those ghosts are handled and cleared off before we even think about listing. “You don’t want to be haunted by any title ghosts. ”Also keep in mind that if there is anything you need to disclose about the property to future buyers, you need to have it in writing. The previous seller’s disclosure should help. Another thing to do would be to see if there are any legal issues that need to be handled, such as a name change. If you’re thinking about listing your home this fall, don’t hesitate to reach out and give us a call or send us an email. We’re ready and willing to come on over, take a look around, and find any “ghosts” that may be hidden to ensure a smooth transaction.

Home Sellers: Beware of Title Ghosts

What’s the difference between your property value and the market value of your home? I’ve got the answer today.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleI often get questions about how property value, which is based on your tax assessment, fits in with the true market value of your home. These values are two separate items that factor in for two completely different purposes.Under Colorado state law, properties need to be assessed for tax purposes every two years. The property value that is assessed is used strictly for tax purposes. When the assessors went out this year to reassess properties, they were looking at comparable homes that sold between the years of 2014 and 2016. We are more than a year away from that data, and the market has continued to shift and change. The market value of your home is based on what is currently happening in your local market. “The market value of your home is based on what is currently happening in your local market. ”If you feel that your tax assessment is not accurate or is too high, then you can appeal that assessment with the county assessor’s office. They give you a 30-day window from the time you received your assessment to appeal that number.If you need help appealing your property tax assessment, or you’d like to find out the true market value of your home, please give me a call. I look forward to working with you.

What's the Difference Between a Property Value and a Market Value?

Understanding the difference between appraisals and inspections is important to any real estate transaction.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleRecently someone sent in a great question: “What is the difference between an appraisal and an inspection?” It’s common to confuse these two things, but knowing the difference is actually very important to any real estate transaction. First, let’s discuss appraisals. The main purpose of an appraisal is to determine the value of a home. Even though I myself have a solid understanding of market value and have worked with several hundreds of homes, my opinion, or any agent’s opinion, simply doesn’t mean as much as the home value determined by an appraiser. The lender is the person to whom this appraisal will really matter. Except in the case of cash buyers, the lender is the one supplementing this large sum of money to the buyer for the home purchase. Also, since they will be using the home as collateral, it is important for them to have a solid grasp of what the value is. In today’s escalating market, appraisers will look at similar homes while accounting for things like upgrades. Appraisers are looking in areas to help them determine home value. This can cause discrepancies in a forward-moving market like the one we’re in today. Sometimes these discrepancies will manifest in the form of an appraisal gap. Moving on, there’s also the matter of the home inspection. Inspections benefit the homebuyer in a number of ways. An inspection will not only alert them to issues within the home, but will also give them a good idea of what home maintenance will be like in the future. Overall, each one of these processes are integral to getting to the closing table from either side of the transaction.“These processes are integral to getting to the closing table. ”If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

The Difference Between Appraisals and Inspections

Have we reached a peak in our market? We’re not quite there, but we’re getting close.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleI wanted to take the time to answer another great question that a few people have been asking. I get this question on a daily basis, where people are asking, “Are we at the peak of the market yet?”My answer? We aren’t quite there yet, but we’re really close. By the time we realize we are at the peak, it will have already passed. Just use the analogy of climbing: you’re climbing and climbing in the mountains of Colorado, and you think you’ve reached the peak, and you’re actually so close, but you’ve reached a plateau.You’ve done all the hard parts, but you’re not quite there yet; you have a little bit further to go. That’s a lot like our Denver market right now. Homes have appreciated a lot over the last several years, and now we’re starting to see things slow down a little bit. They’re still appreciating, but we’re inching up there to the top.“Homes are still appreciating, but we’re inching toward a peak in our market. ”Just over the last year, we’ve seen the rate of appreciation drop to about 5%. If you have a condo instead of a single-family residence, I would love to chat with you about your property because condos have appreciated over 13% in the last year.So if you’re waiting for the right time to list your home or condo, you may miss your chance. If you’re wanting to take advantage of this great market and higher-than-ever home values, let’s do it now. Give me a call or shoot me an email and I’d be happy to help you!

Have We Reached a Peak in Our Market?

The sales price of your home is one of the most important aspects of the sale, so pricing it correctly will have a huge impact on your success as a seller.Want to sell your home? Get a FREE home value reportWant to buy a home? Search all homes for saleWhen the time comes to list your home for sale, how should you determine the sales price? Marketing is a huge aspect of the success in selling your home, and its price is a huge part of that. You want to start by pricing your home right at market value, and don't overprice it by any means. Remember, the activity and showings you get will be based on price. You'll always get the most activity during your home's first 30 days on the market, and if you overprice it from the beginning, you will really shoot yourself in the foot. How you price it also determines how many buyers come look at your home. Pricing right at market value automatically means you're reaching 60% of the available buyer pool. That number gets cut in half if you overprice your home by just 10%. When considering your list price, you also want to avoid these common misconceptions that can hurt your sale.What another agent says it's worth: Do your research to find a professional agent who can price it accurately and has a great list-to-sales price ratio. Many agents will price the home high in the beginning of the sale only to come back and ask you to reduce the price.What your neighbor says: We get this a lot, but your neighbor probably isn't in the trenches of real estate day in and day out like us agents. There are so many factors that go into valuing a home—it's not just price per square foot. We have to consider bedrooms, bathrooms, the location, the quality of finishes, and many, many more things.Assessed tax value: Tax values are assessed in arrears, meaning they're assessed 18 months prior to where the market value for your home is currently at. That's why there's no way the assessed value can be totally in line with the current market value.Pricing based on what you need: For example, you might need $100,000 for a down payment on your next home and think you can work backward and price your home accordingly from there. That's definitely not an appropriate strategy.What you paid for the house: This has no impact on the home's true market value now. “What you paid for your house has no bearing on what it's currently worth. ”You want to bring out a real estate professional to provide you with a comparative market analysis (or CMA) so you have an accurate price range of your home's current market value in order to have a successful sale. If you have any questions about your home's value or you're thinking about selling, don't hesitate to give me a call or send me an email soon. I'm always happy to help!

The Right Way to Price Your House When Listing

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Angela Fox - your professional Colorado Real Estate Agent.