Jan. 15, 2019

When Pending Home Sales Go Bad

When pending home sales go bad

You've noticed houses that are "sale pending" that go back on the market. For the seller, it is a frustrating time. For potential buyers the questions start. What is wrong with it?

Most of the time, a house going back on the market after it was a pending sale, has nothing to do with the quality of the home. Here are some of the most common reasons houses return to the market.

  1. Mortgage Loans Fall Through - This is the most common problem sellers face during the process. A potential buyer's mortgage loan falls through, and they are no longer able to afford this purchase. The loan falling through can happen due to liens or judgments filed against them they might not know about, or not maintaining their debt-to-income ratio needed for the mortgage amount. Buyers - always make sure that you stick within the parameters of what your loan officer suggests you can afford. 
  2. Buyers Remorse - Buyers might be so excited in the initial phases, but get cold feet right before the deal is complete. Often, buyers can cancel a contract during the inspection period for any reason and still get their earnest money back. When they get scared and can change their mind with no penalties, they do. 
  3. Low Appraisals - Appraisals are part of the lending process because lenders want to know that they can recoup their investment if you can't pay your mortgage. If an appraisal comes back low, the buyer needs to come up with the extra money to cover the amount above the loan. Often, buyers don't have that extra money and can't move forward with the purchase of the house. 
  4. Contingent Offers - Offers that are contingent upon a buyer selling their house first are very common and tricky. If the buyer's house sale falls through, this house sale will (most likely) also fall through. This scenario is why you see experienced real estate agents taking back-up offers for homes. They are trying to line up a back-up plan in case anything happens to make the home sale fall through. 
  5. Home Inspections - Sometimes things come up during a home inspection that seems too daunting for a buyer to take on. Every home has some things that come up during a home inspection, but if a house is re-listed, you can rest assured that major issues are fixed this time around, or disclosed upfront to any potential buyers. 
  6. Lien Issues - Some sellers might have a lien against their house that prevents them from legally transferring ownership to another individual until removed. Some of the most typical liens include owed property taxes or other debts. If the amount is too significant to pay at once, a seller might have no choice but to take their house off the market and try again when the there is no more debt. 

During the buying or selling process, things will always come up. Working with an established real estate agent will help you navigate every issue that might pop up and create a much more relaxed process for you! Contact any of the agents at Robinson and Co. Realty for your home buying or selling needs. We're here to help!

Jan. 9, 2019

Best Time of the Year to Purchase Items for Your Home

Best times to purchase home goods

Whether you've just recently moved into your home or have been living in it a while, you might need to purchase "stuff" for it. It can get expensive to buy quality furniture, appliances, tools, and other furnishings, but you don't want to cheap out and regret it later.

Here's a general rule of thumb when certain items will be on sale, saving you the stress of overpaying and getting you the items you need. 

Furniture: January & July

  • These months are good for furniture purchases because stores are trying to clear out inventory and make room for their new pieces, which manufacturers introduce in February and August. You can get between 30% and 60% off items, especially floor models, so be sure to ask about those too!

Storage: January & August

  • Retailers tend to slash prices and offer free shipping on shelving, organizational items, baskets, and storage bins targeting those parents sending kids off to college around August. Retailers do the same price decreases in January when everyone wants to organize their homes for the new year. You can benefit from these tactics if you can wait to purchase until those times. 

Linens and Towels: January

  • Since 1878, department stores have been marketing "white sales" during January making it the best time to binge on new bedding and towels. If they are out of the color or style you are looking for, see if the store will offer a rain check on the item, so you can get what you want at the discounted price. It doesn't hurt to ask, right?

Major Appliances: January, September, October & The Holidays

  • Everyone knows to wait for the next holiday to purchase an appliance, right? Deep discounts and free interest are significant benefits to the consumer. What you might not know is that in September, October, and January retailers need to make room for new models (minus refrigerators) and will slash prices to get rid of the old models. 

Refrigerators: May

  • While the rest of the appliances discount towards the end of the year, new refrigerator models are released in May making it the best time to get a good deal. If you can specifically wait for Memorial Day sales, you'll get double bonus pricing of a holiday AND an old model closeout. 

Mattresses: February & May

  • These months are the best due to President Day sales and Memorial Day sales. Many department stores offer additional coupons and savings on their sale prices at this time. If you're hoping to price shop the same brand around town, don't bother. Manufacturers only go so low, so if you want the best price, be open to different brands and models. 

Power Tools: June & December

  • These are the favorite gifts for dad, so stores tend to discount the items for Father's Day and Holiday gifts. If you can wait until these months for the best deals, you'll save some cash.

Get the best deals on the items that you want for your home by being a smart shopper and purchasing when things are the most on sale. When you're ready to shop for a new home contact any of the agents at Robinson and Co. Realty. 

Posted in Home Tips
Jan. 8, 2019

1027 E Harrison Avenue, Fruita, CO 81521

Cute and Cozy! This home was completely remodeled in 2015 including: New roof, updated electrical & plumbing, new evaporative cooler, new cabinets & counter tops in kitchen, new master shower & sink, new wood laminate flooring & carpet & more. 3 bedrooms (2 Bedrooms w/walk in closets), 2 bath and a 1 car garage. The home also features a gas log fireplace. There is alley access for RV parking with no HOA so the chicken coop stays too. Also included are the hot tub that has a new heating element and a new cover. This home will qualify for RD financing. Buyer to verify all information.

Click here to view full listing.

Posted in Listings
Jan. 5, 2019

208 Pinyon Drive, Fruita, CO 81521

Comfy, well maintained home in Fruita. This 3 bed, 2 bath home features a spacious living area with a gas fireplace, separate eating area and a great kitchen with plenty of work space. The kitchen has an eat up bar plus a nook designed for office space. The rooms are light and bright throughout with newer interior paint. The 2 car garage features custom cabinets and a work bench with room for 2 vehicles. There is a large RV space on the East side of the home, covered East facing patio and a storage shed. Close to downtown, Rec Center, Schools and more. Buyer to verify all information.

View full listing here

 

Posted in Listings
Jan. 4, 2019

Tbd 10 Road, Mack, CO 81525

18.74 acres for sale in Mack, Colorado. List Price is $135,000.

Click here to view full listing.

TBD 10 Road, Mack, CO 81525

Posted in Listings
Jan. 2, 2019

1376 Horseshoe Drive, Fruita, CO 81521

Views, Views, Views! Ideally sited in Horseshoe Estates, this 4 bedroom, 3 1/2 bath home sits on over 2 acres. It features a large kitchen with an abundance of cabinets, eat up bar and a pantry. It opens to a combination living and dining space with a seperate living area for entertaining that features wine cooler, bar and gas fireplace. Lg Master with dual master closets and 5 piece master bath. The covered patio offers the perfect place to entertain guests with outdoor speakers, hot tub, play area for the kids and VIEWS. Oversized 3 car garage, plus a detached single car garage/shop that is 20x30 SqFt. There is also plenty of graveled RV parking. Buyer to verify all information

View full listing here.

1376 Horseshoe Drive, Fruita, CO 81521

Posted in Listings
Jan. 2, 2019

Sell Your Home in the New Year

selling your home in 2019?

It's officially a new year. If you're thinking of listing your home this spring, it is the perfect time to start getting it show ready.

Here are a few things to polish up before you list your house.

  1. Dump the Junk - decluttering is hard, but extremely necessary when you're listing your house. Your treasures are personal to you, but a potential buyer wants to picture themselves living in the house. They have a hard time imagining themselves in your house when they can't see past your clutter. You've got plenty of time to get your home show ready. Just go through room by room and start packing non-essential items away. It will make it a lot easier for you when you're packing to move!
  2. Go neutral - maybe you love the floral wallpaper or brightly colored walls, but a potential buyer might not. Most buyers have a difficult time looking past these easy fixes. So, make it easy for them (and you) and ditch those personal touches for neutral colors and tones. You'll get more interest in your home, and it should sell more quickly. 
  3. Light it Up - Adding light to those dark corners makes a home feel more open and spacious. Home-buyers notice fixtures, and by lighting up those areas that have high-quality features, you are showcasing the best parts of your home. You can't always make the weather bright and cheery, but you can fake it by using bright bulbs inside your home. 
  4. Stage it - Do you have a three bedroom home, but one of the rooms has devolved into the dreaded "junk room?" Clear it out and stage it! It doesn't matter if you make it a bedroom, home office, or workout room. Just pick a theme and make the room have a clear purpose. 
  5. Smell test - when you live in a house, you become immune to the smells. Ask some trusted friends to come over and be honest if there is a funky smell in your home. Trust us. Home-buyers will be turned off by strange smells. When you know where the smell is coming from, you can clean it and give future buyers a better first impression. 
  6. Fix it - we've all got those small projects sitting around the house that we're avoiding. It's time to tackle those projects and get them completed. Home-buyers don't want to think about all the work they have to do when they move in. They want it to be easy! So, get the spackle out and start patching holes and tying up those loose ends.

If you're getting ready to sell your home, partner with an Agent that you can trust. All of the Agents at Robinson and Co. Realty are ready to help you sell your home and make it as easy of a process as possible. Contact us today

 

Posted in Selling Tips
Dec. 27, 2018

What Do You Know About Your Credit Score?

How does your credit score affect you?

While your credit score might not be an everyday worry, it quickly becomes one when you're trying to get financing, especially a mortgage. This three-digit numbers follows you around and lets lenders know how trustworthy you are when it comes to managing your finances.

Learn a little bit more about your credit score before you apply for a loan. 

  1. How is it Calculated? While there are some questions always left unanswered when it comes to how your score is calculated, these are generally the most accepted methods. 
    1. How you pay your bills. 35% of your score is based on your bill payment history. So, if you're always prompt about paying, this is an easy booster for you. If you sometimes pay late, you might want to start correcting your behavior now before it comes back to haunt you.
    2. The ratio you owe. 30% is based on the ratio of how much money you make vs. how much you owe. The less you owe, the better. 
    3. Length of History. 15% is based on how many years creditors can go back to look at your credit history. When did you open your first account? Is it still open? Are you current on that account? The longer they can go back and look at your history, the more comfortable creditors feel about lending you funds. 
    4. Type of Credit. 10% is based on what kinds of revolving credit you have on your report. Are they big ones like school loans, and car loans or are they mostly credit cards. Your credit score is usually better with a variety.
    5. New applications. The last 10% is dependent on new applications to your credit report. When purchasing a home, lenders don't want to see a bunch of new accounts. It makes them nervous that you're overextending yourself. If you can hold off on opening new accounts until after you close your mortgage, it is better for your credit score.  
  2. Where to find it? Now that you know how it is calculated, where can you find it? You can view your credit for free once a year using annualcreditreport.com. When you get your score, you should also review your report to make sure there are no unrecognizable accounts. Those could be fraudulent, and you'll want to contact the company and get it closed immediately!
  3. What does it mean? Now that you have your score, you can figure out where you sit. The scores range from 300 to 850. The higher the score, the better rate and terms you'll be able to get on your loans. 800 or above will get you the best interest rates (lowest) saving you lots of money over time. 

Having a solid credit score is one of the best things you can do for yourself when looking to purchase a home. If you're not in a good place now, don't worry. You can start changing your purchasing habits and increase your credit score to get you in a better place. Knowing where you start is the best way to get to where you want to go. If you're looking for a new home, contact any of our agents today

Posted in Homebuying Tips
Dec. 22, 2018

1990 Three Eagles Way, Loma, CO 81524

If are you looking for peace & quiet, wide open spaces and distance from the neighbors this property is for you! Spacious 1828 sq feet with 3 bedrooms and 2 baths featuring an open living space, large kitchen and a pellet stove to keep the home cozy and warm through the Winter. This home is IRC built so financing is available. It sits on a full unfinished basement that has a walk out door and could easily be changed to a 6 car garage by installing an overhead garage door. Forced air heating & cooling, 1750 gallon cistern set up with a 550 gal tank for filling and fencing & outbuildings stay. Enjoy the breathtaking sunsets on the Bookcliffs from the covered patio. Buyer to verify all information.

View Full Listing here.

Posted in Listings
Dec. 18, 2018

9 DIY Projects to Complete This Winter

DIY Winter Projects

We are fast approaching the Winter Solstice, which means that the daylight hours will start to get incrementally longer. Thank goodness! While we are not out of the darkness yet, you can make the long nights a positive by completing those simple DIY projects that stack up during the months you're out having fun! 

If you're looking for some inspiration check out this list of DIY home projects!

  1. Fresh Paint - This is the easiest one to complete, and it will give your house an entire transformation! If you're not looking to sell your home shortly, go with a color that you LOVE, but if you're painting to put it on the market in the spring, stick with neutral tones. People want to see themselves in your home, which means de-personalize from what your preferences are. Here's a link to the best trending interior colors of 2019. 
  2. Organize Your Closet - This is one of those things that NEVER happen during the warm weather season. There are many different techniques to choose from, but it depends on the space you have and how you want it to look. Sometimes the best way is to sort through what you've got and purge the items that remain unused. 
  3. Update Your Hardware - you will not believe how updated your house can look with a new kitchen or bathroom hardware! Hardware is such a quick and easy DIY project you'll wonder why you didn't do it sooner! If you're looking to sell your home soon, this is a pretty inexpensive way to update your home to make it feel more modern. 
  4. Front Entry - this one might be difficult to complete in the dead of winter, especially if you're going to repaint your front door, but you can update your mailbox, and house numbers now, then finish the door in the spring. This is a great way to make your home more inviting, and it will really pop when those spring flowers come into bloom!
  5. Molding - if you've ever watched HGTV, you might already be in love with molding. Winter is the perfect time to get baseboard or crown molding installed and add the charming detail you drool over in your favorite home shows. As a bonus tip, be sure to paint it before you install. It will save you so much time and heartache!
  6. Faucets and Shower Heads - replace these in the winter. Not only might you trick yourself into thinking you're relaxing at a spa, but you'll easily update your home's look. When you're looking for new faucets, make sure the ones you fall in love with have the same holes at your current ones. Trust us, you don't want to turn this easy DIY into a headache!
  7. Garage Organization - Bundle up and head to the garage to organize all your things for the coming warm months. Put those tools away, or get a peg board to make sure everything has a spot! When you want to spend free time outside relaxing during the summer, you'll be glad your small project was quickly able to be completed because you knew where everything was. 
  8. Light Fixtures - again, this is simple, inexpensive (depending on the fixture you choose) and a great item to compete during the winter. Spruce up your house, you're worth it!

With this list of easy DIY projects, winter will fly by, and you'll be ready to enjoy yourself (and your house) during the coming months! If you are looking to sell your home soon, contact any of our wonderful Agents. They can help you determine if you need to complete any of these projects to get the most money out of your home. 

Posted in Selling Tips