Realtor for Women
Get access to your Customized Home Search Client Portal with Daily Email Notifications
Newsletter Signup

Register for my newsletter by clicking the button below.

Twitter_button pinterest linkedin facebook rss feed

Home Buying

Information about buying a home, condominium or townhome.

Home Buyer Basics – Be Prepared! (Fall Classes)

In this real estate market it’s more important than ever for buyers to be prepared to enter the market. This class has been designed to give you the information you need to be successful in this market. As a student you will understand the home buying process from start to finish; the current Denver Metro real estate market; how to describe your new home; how to choose the right real estate broker. We will also review tips and techniques for writing a strong offer. You will leave the class with the all information you need for your home buying process to be a success.

Register for classes at the Arapahoe Community College Website.

Sat, Sep 15, 10 a.m.-12:30 p.m.   Littleton Campus
INDS 1001F01-68159                            $25

Sat, Oct 20, 10 a.m.-12:30 p.m.  Littleton Campus
INDS 1001F02-68160                           $25

 Sat, Nov 3, 10 a.m.-12:30 p.m.   Littleton Campus
INDS 1001F03-68161                             $25

Sat, Dec 8, 10 a.m.-12:30 p.m.   Littleton Campus
INDS 1001F04-68162                            $25

Filing your taxes and buying a home

I just received my income tax organizer from my accountant and I was reminded that this time of year can pose an extra challenge for my clients.  As you can see, my clients are never far from my thoughts, ahhh the life of a   real estate broker.  But seriously, I love my job.

I know you’re thinking “Really?? I just managed to get through the holidays and I don’t even want to think of income taxes yet” or “Are you kidding me?? I have enough on my plate with work, kids, finding a new house, etc, etc.  Why can’t I put this off as long as possible?”

Buyers hoping to beat the rush by entering the market in the Spring need to add one more task to the ever-growing list of things to do.

So what does filing taxes have to do with buying a home?  Buyers may be negotiating the closing on a property on or around April 15th and it may become an issue if their taxes have not been filed in time for the lender to get a transcript.

So what does that mean for you?

  1. If you’re already in process of buying, contact your lender and see what deadlines are in place for needing a transcript of your 2017 tax return from the IRS.  If you’re a “W-2” employee you should probably file as soon as you receive your W-2s from your employer
  2. If you’re self-employed and considering filing an extension  AND you owe money to the IRS you must pay (or have a payment plan established) PRIOR to closing on your home.
  3. If you’ve just started the buying process and are thinking of reaching out to a lender to get pre-qualified be sure to ask about 2017 tax filing deadlines.
  4. If you’re still on the fence about entering the market contact me and we can discuss what may be best for your personal situation.

My goal as a real estate professional is to do my best to see potential stumbling blocks before they upset your transaction. My goal is to insure you are always making great decisions with great information. 

Real Estate Bubble or Not?

The truth is I don’t know if this is a real estate bubble or not and neither does anyone else!  What I can tell you is what I tell all my clients.  “If you’re ready to buy then now is the right time”.  Of course, I also tell them to carefully consider the following information:

  1. Buy only what you can afford with the salary you are making RIGHT NOW.  Don’t count on a promotion, a raise or a new job.  In most cases, especially with first time home buyers, your income will increase, not decrease.  If you buy a home you can afford today you can weather any volatility in the the real estate market. 
  2. The market value of your home only matters when you SELL.  Although no one can predict the future, if you plan to stay in your home for 5 – 7 years you can very likely wait out any downturn in the market. Looking at historical data if you purchased your home at the peak in 2006, the Denver Market had essentially recovered by 2013 (7 years). Prior to that the property values had been increasing steadily since 1992! (S & P, Case-Shiller Home Price Index). 

    S&P Dow Jones Indices LLC, S&P/Case-Shiller CO-Denver Home Price Index© [DNXRSA], retrieved from FRED, Federal Reserve Bank of St. Louis;, June 6, 2017.

  3. Interest rates are incredibly low right now and the likelihood of them increasing gets a little greater every day.  For every increase in interest rates you reduce your buying power. For example: if you want to keep your principle and interest payment around $1500 and you have 20%  down, the graphic below shows you how that affects your buying power.

With all that being said… If you’ve been sitting on the fence, wondering if you want to buy or not, please reach out to me.  I will help you logically evaluate your unique situation so you can make an informed decision about whether or not you’re ready to buy.