Why Zillow Home Values Should Not Be Trusted.

One of the most common questions I get is, “how accurate are Zillow home value estimates?”

 The majority of the time, these Zillow home values a.k.a. “Zestimates” are NOT accurate. Zestimates are created by an automated system that cannot think for itself, or account for variations or unique characteristics that can alter the price.

 One of the factors impacting the Zillow Zestimate is the property’s assessed value from tax records. Rarely does assessed home value have a correlation to market value. Assessed values are used by the county to collect taxes.

Another data point that Zillow uses is the most recent selling price of a property. The market is changing so quickly and a sale price that is years old is no way to estimate the current value of a home.

Zillow estimates the values of over 100 million homes across the country. It would be impossible for them to predict the value of each home accurately. Zillow does not enter properties but relies on their system instead. They have no idea that you spent $50,000 renovating your kitchen and bathrooms. Zillow also doesn’t know if you have a $20,000 structural crack in your foundation, or if your roof needs replacement. They also have not idea if your home is in a desirable area. 

Zillow can be a useful tool, but it does not provide adequate accuracy on home prices to be used exclusively.  Want to know the accurate market value of your home? Call Carrie Summers with Colorado Ranch & Home Realty 970-759-2540.

Thinking of selling? Staging your home is crucial!

 

Thinking of selling?  Staging your home to look it’s best, can get you top dollar!

 Home staging is decorating with purpose to highlight your home’s best assets and help buyers imagine themselves moving in and living there.

 De-personalize the space

The biggest objective of home staging is to help the prospective buyers visualize the space as their own. Start by removing any personal photos, making sure to take down things hanging on your fridge as well as framed photos on walls and surfaces. Most of the closets need to be ½ empty. 

 Get rid of clutter

Clutter takes up space, and space is what sells. Make your home look bigger and more desirable by getting down to just the basics. You don’t have to permanently remove things, but you should pack them up and get them out of the house. This includes un-seasonal clothes, most of your decor, papers, games, and anything else that you don’t use on a daily basis. Buyers will be opening your closest to look at their storage potential, so take your time there, removing as many miscellaneous items as you can. 

 Clean!

A clean home suggests to buyers that the current owners took good care of the property. Clean everything from the baseboards, to the corners of your ceilings, and everything in between. Clean the inside of your refrigerator, and make sure you dust your blinds.

 Patch and repair

Take a magic eraser to any scuffs on the walls. Keep an eye out for areas that could use a little TLC, then spackle and caulk as necessary. You might need to do paint touch ups too.

 Let in that light!

Brighten up by letting as much light shine in the house as possible. Open the blinks on all of the windows, which will also make the rooms seem bigger.

 Freshen Up

A few potted plants can do wonders on making your home feel inviting. Space plants out strategically so they don’t overwhelm any one area. Another way to freshen up your home is to get rid of odors. Pets, kids, last night’s dinner, a damp bathroom, and many other conditions can make your home smell. An easy way to remove a home of odors is to bake cinnamon-coated apples, or cookies in the oven, or burning vanilla-scented candles. It’s best to avoid air fresheners as they can trigger allergic reactions and asthma in sensitive people. Lastly, don’t forget to take out the trash!  In the summer, crack a window for fresh air!

 We are here to help make the selling process effortless!  MancosHomes.com

Should I Renovate Before I Sell?

Thinking about selling and unsure if you should renovate?  Will it make your home more appealing to buyers?  Will you recoup the cost?  Renovations might not be for important in the current market.  

Homes are currently flying off the market if priced right.  Multiple offers and above asking price is the norm.  Due to the high demand, spending time and money on renovations might not be smart.  

Cleaning up the property is still key, and decluttering.  However some repairs might not be necessary.   

In today's market, many buyers are willing to take on home improvement projects, thus they can transform the home to their needs and tastes.  

Contact me for how to get top dollar for your home, without doing major repairs.

 

Understanding Contact to Buy and Sell Dates and Deadlines

Congratulations you found the home you love!  Now you are ready to sign a contract, however the paperwork can be overwhelming – especially because it is 21 pages long! I'm here to help make your transaction go smoothly!

There are 39 possible deadlines in the Contact to Buy and Sell, but you don’t typically use all of them in a normal transaction. Real estate agents set the dates of the contract based on when they believe they can get the items accomplished. Keeping track of all the dates is super important.  I will send you a calendar plus weekly reminders.  

Before you sign the contract, if you learn what these dates mean and how they relate to other dates, it will help you tremendously!

Let’s go through each one in order to make sure you are prepared for one of the largest purchase in your lifetime.

Contract to Buy and Sell

Real Estate Contract Dates & Deadlines 

Item No. 1 – Alternative Earnest Money Deadline

The Alternative Earnest Money Deadline is when the earnest money is due, usually upon offer or within 3 days of the contract be accepted. This deposit must be turned into either the Brokerage or Title Company ands needs to be either a check or wired. The amount of the deposit is usually set by the sales contract and is typically available in the MLS. The title company will cash your check.  Earnest Money says you are earnestly going forward with the purchase.  

Title Deadlines

Item No. 2 – Record Title Deadline

The Record Title Deadline is the deadline in which the Title Company must provide the Buyer a current commitment for an owner’s title insurance policy.

This will consist of links to any plats, declarations, covenants, conditions & restrictions burdening the property. This date is usually 7-10 days from the MEC (mutually executed contract). Please be sure to read this carefully, and if you have any questions ask your realtor.  

Item No. 3 – Record Title Objection Deadline

The Record Title Objection deadline allows the Buyer to object to the title condition. This is at the Buyer’s discretion and can therefore be based on any unsatisfactory title condition. This date is typically 12-15 days from the MEC.

Item No. 4 – Off-Record Title Deadline

The Off-Record Title Deadline is when the Buyer must receive copies of all existing documents in the Seller’s possession and must disclose to Buyer all easements, liens, leases, agreements or other title matters not shown by public records, of which the Seller has actual knowledge. This date is usually 10-14 days from the MEC.

Item No. 5 – Off-Record Title Objection Deadline

This is similar to the Record Title Objection. The Buyer can object & terminate if unsatisfied with documents provided in item No. 4, the Off-Record Title Deadline. This date is usually 12-15 days from the MEC.

Item No. 6 – Title Resolution Deadline

The Title Resolution Deadline is the date by which all title objections must be resolved. This date is typically 15-17 days from the MEC.

Item No. 7 – Right of First Refusal Deadline

The Right of First Refusal date applies to situations, where an outside entity, like an HOA, or a former owner has to approve a Buyer’s contract. If the entity who holds this right disapproves the contract, the contract terminates. The right of first refusal is common with a back-up offer if the contract has a contingency. This date is usually 5-7 days from the MEC.

Owner’s Association Deadlines (HOAs)

Item No. 8 – Association Documents Deadline

The Listing Agent typically handle the Association Documents (HOA documents) for the Seller. This is the deadline for which the Buyer must receive all current HOA documents.

It is VERY important for Buyers to review all documents of this nature especially in townhome or condo communities. This is where buyers can find pet, architectural control, covenants, parking, and many other rules and restrictions. Oftentimes, HOAs need appropriate time to deliver these documents. This date is typically 10-14 business days from the MEC. 

Item No. 9 – Association Documents Objection Deadline

The Association Documents Objection Deadline gives the Buyer the right to terminate the contract based on any unsatisfactory provisions in the HOA docs. This date is usually 10-14 Business days from the MEC.

Seller Property Disclosure Deadline

Item No. 10 – Sellers Property Disclosure Deadline

Sellers typically complete the Seller Property Disclosure before listing their home for sale. This is the Sellers disclosure on any issues or improvements that they have any knowledge of pertaining to the home. There is no objection for this because it’s simply a disclosure. The Buyer will have their own inspections to get the current facts on the property. This date is typically 1-3 days from the MEC.

Item No. 11 – Lead Based Paint Disclosure Deadline

The Lead Based Paint Disclosure is important only for homes built before 1978 and does not apply if the home was built after this date. A Seller agrees to deliver the lead-based paint disclosure and the EPA Brochure “Protect Your Family From Lead in your Home” to the Buyer on or before the deadline. The Buyer will then have until the mutually agreed date to terminate the contract and receive the return of their earnest money based on the disclosure. This deadline is understandably early in the contract and is usually 1-3 days from the MEC.

Loan and Credit Deadlines

Item No. 12 – New Loan Application Deadline

The Loan Application Deadline is the deadline in which the Buyer must submit a full loan application to the lender. In most cases,Buyers have usually gone through this process before submitting an offer. This date is typically 1-3 days from the MEC.

Item No. 13 – New Loan Termination Deadline

The New Loan Termination Deadline is to aid the Buyer determining whether the new loan is satisfactory to their needs. This includes payments, interest rate, terms, conditions, and cost. This deadline is for the sole benefit of the Buyer. This is usually 24-30 days from the MEC.

Item No. 14 – Buyer’s Credit Information Deadline

The Buyer’s Credit Information Deadline applies in the case of owner carry financing. The Buyer must supply the Seller with financials, a credit report or other documents requested. This deadline is usually 7-10 days from the MEC.

Item No. 15 – Disapproval of Buyer’s Credit Information Deadline

The Disapproval of Buyer’s Credit Information is the Seller’s opportunity to decline the Buyer based on the information provided. This date is typically 10-14 days from the MEC.

Item No. 16 – Existing Loan Deadline

The Existing Loan Deadline is only applicable for if the Buyer is going to assume the Seller’ existing loan. The Seller must provide all current loan documents to the Buyer for review. This deadline is typically 7-10 days from the MEC.

Item No. 17 – Existing Loan Termination Deadline

Once the Buyer receives the Seller’s current loan information, they have the right to review the terms and object or decline thereby terminating the contract. This date is usually 10-14 days from the MEC date.

Item No. 18 – Loan Transfer Approval Deadline

Again, this deadline only applies if the Buyer is going to assume the Seller’s existing loan. This is the deadline for the Seller’s Lender to approve the loan assumed by the Buyer. This deadline is typically 21-28 days from the MEC.

Item No. 19 – Seller or Private Financing Deadline

The Seller or Private Financing Deadline only applies if any portion of the financing of the transaction is provided by private or seller financing. The Buyer must decide by this date if the financing being offered is acceptable. This deadline is typically 21-28 days from the MEC.

Appraisal Deadlines

Item No. 20 – Appraisal Deadline

The Appraisal Deadline is the date in which the Buyer must receive an appraisal of the property. In most cases where there is a loan, the Lender will require an appraisal in order to determine the property’s current market value. This can be an important deadline to monitor because appraisers tend to fall behind during the busy season. This does not apply to VA loans. This deadline is typically set 18-21 days from the MEC date.

Item No. 21 – Appraisal Objection Deadline

The Appraisal Objection Deadline is when the Buyer must submit in writing that the valuation is less than the purchase price and outline the appraiser requirements of work to be done before it can close. (For example, Remove the chipped lead based paint from the side of the house). This deadline is usually set at 18-21 days from the MEC and is typically set at the same date as the Loan Termination deadline.

Item No. 22 – Appraisal Resolution Deadline

If there is an appraisal objection, the Appraisal Resolution Deadline is when the objection needs to be resolved. At this point, a couple of things can occur: a) the Seller can come down in price to match the valuation; b) the Buyer can bring the difference in cash or c) the Contract can terminate. An agreement must be reached by this date or the contract terminates. This deadline is set 21-24 days from the MEC date.

Survey Deadlines

Item No. 23 – New ILC or New Survey Deadline

An Improvement Location Certificate (ILC) or Survey is usually only ordered if the title company (and in some cases the lender) requires it, or if the Buyer has questions as to where the exact property lines are. The New ILC or New Survey Deadline outlines when the Buyer must receive either document by the deadline. This date is usually defined as 18-21 days from the MEC date.

Item No. 24 – New ILC or New Survey Objection Deadline

The New ILC or New Survey Objection Deadline is the date when the Seller must receive a written description of any matter that is unsatisfactory and the Buyer requires the Seller to correct. This date is typically set 18-21 days after the MEC date.

Item No 25 – New ILC or New Survey Resolution Deadline

If there is an ILC or Survey objection, the issue must be resolved by this date or the contract terminates. The resolution deadline must be after the objection deadline and is commonly set 21-24 days from the MEC contract date.

Inspection & Due Diligence Deadlines

Item No. 26 – Inspection Objection Deadline

The Buyer has the right to have a professional inspection done of the property. All home inspections are to be completed by this date. The Inspection Objection Deadline is the date by which the Seller must receive a written description of any unsatisfactory physical condition that the Buyer requires the Seller to correct. This is an important deadline and is typically set 7-10 days from the MEC date.

Item No. 27 – Inspection Termination Deadline

The Inspection Termination and Resolution Deadlines only pertain if an objection is sent. If an objection is received by the Buyer, the Seller has until this date to respond in writing, addressing the repair requests from the Buyer. The Buyer has to agree to the terms or the contract terminates. This date is usually set 10-14 days from the MEC and is usually the same date as the resolution.

Item No. 28 – Inspection Resolution Deadline

If an Inspection Objection is received by the Buyer, the Seller has until this date to respond in writing addressing the each of Buyer’s repair requests. If the Buyer and Seller cannot agree to the terms or agree to withdraw the objection, the contract terminates. This date is usually set 10-14 days from the MEC and is usually the same date as the inspection termination. Once an Inspection Objection is given to the seller it's in the best interest of all parties to come to a resolution in a timely manner (1-2 days). When the resolution is signed by both parties, buyers may not present any other inspection objections.  

Item No. 29 – Property Insurance Termination Deadline

If there is financing required to purchase the property, the Lender will require property insurance to be obtained, commonly called homeowner’s insurance. The Property Insurance Termination Deadline is when the Buyer must obtain as many bids as they’d like for their homeowner’s insurance. If the insurance does not meet their satisfaction, they must terminate in writing by this deadline. This date is usually set 21-24 days from the MEC date.

Item No. 30 – Due Diligence Documents Delivery Deadline

In the contract, if the box is checked in the Due Diligence section, the Seller agrees to deliver copies of specific documents pertaining to the property. This can include any leases, completed contract work, warranties, permits, etc. This date is commonly set 7-10 from the MEC prior to the Inspection Objection date.

Item No. 31 – Due Diligence Documents Objection Deadline

If the Due Diligence Documents are not supplied to the Buyer, or are incomplete or unsatisfactory, the Buyer can terminate or Object. When the Buyer objects, they must provide a written description of the documents that they require the Seller to correct or supply. This date occurs 8-11 days from the MEC date.

Item No. 32 – Due Diligence Documents Resolution Deadline

If there is a Due Diligence Document Objection, the issues must be resolved or the objection retracted by the Due Diligence Documents Resolution Deadline or the contract terminates. This deadline is set after the delivery deadline and is typically 10-14 days from the MEC.

Item No. 33 – Conditional Sale Deadline

The Conditional Sale Deadline only is applicable If the Buyer has a property to sell before they can complete the purchase of the property under contract. The contingent property must be sold and closed by the conditional sale date, or the Buyer may terminate the contract. This date is flexible.

Item No. 34 – Lead-Based Paint Termination Deadline

Beginning in 2019, the Colorado Department of Regulatory Agencies added the Lead-Based Paint Termination Deadline for the Buyer to terminate the contract and receive the return of their earnest money if they are not satisfied with the lead-based paint disclosure or any of the results of the lead-based paint inspection(s). This deadline is set 10-14 days from the MEC date.

Closing & Possession Deadlines

Item No. 35 – Closing Date

The Closing Date is when the loan papers are signed, recorded and funded  After closing the Buyer can take possession of the property on the date and time specified in the contract. The Closing Date is typically set 30-45 days from the MEC.  Buying a home with cash takes about 2 weeks to close.

Item No. 36 and No. 37 – Possession Date and Time

The Possession Date and Time is when the Buyer gets keys and the Seller is no longer allowed to enter the property. This usually  the date of closing or one day after closing. If the Seller requires more time to occupy the property, a Post Closing Occupancy Agreement must be signed.

Item No. 38 and No. 39 – Acceptance Deadline Date and Time

This is the day and time in which the Buyer requires the Seller to respond to their offer. This is typically 1 day from the date of the contract. If the Seller is offering a counterproposal, a new deadline is established on the counterproposal and a new MEC will be established.

These real estate contract dates and deadlines might seem so overwhelming when reviewing the contract, but they all serve an important purpose in the negotiations of the contract.

Got questions?  I'm here to help.  970-759-2540  Carrie Summers,  Colorado Ranch & Home Realty.  

Happy New Year! 2021!!

 

How To Make Your Home Smell Great

When it comes to selling your home, it’s important to make a good first impression with potential buyers. An important thing to work on is the way your house smells. Even if you have decorated and staged your home perfectly, if potential buyers walk in and detect an unpleasant odor, they could leave fast! On the other hand, good scents can entice them to linger.

 Everyone has different thoughts on what smells good, so it’s important to keep scents subtle and not overpowering. Here are some tips for making your home smell amazing before home buyers arrive.

Clean
 The first step to a good-smelling home is to get rid of any unpleasant odors. Scrub all surfaces, wash the rugs, clean the carpets, and take out the trash. Without doing this, you’ll only be masking bad smells.

Bake
Throw on an apron and bake a batch of chocolate chip cookies, or banana bread. The smell of freshly baked cookies can evoke a warm and homey feeling. Not only will this make your home smell enticing, but it can also double as a snack for potential buyers.

Simmer Scents
If you don’t have time to bake, you can create another appealing sweet scent by simmering vanilla extract diluted in water on the stove. You can also mix 5 cinnamon sticks, 1 teaspoon vanilla, 2 tablespoons cloves, 3 bay leaves, and an orange rind to a pot of simmering water for a pleasant fall-like smell.

Just Add Soap 
Take your unused bars of fancy soap you’ve been gifted over the years, and place them in a pretty bowl on the bathroom counter. Dove brand soap also works great for this. This can fill a room with a clean scent for weeks.

Essential Oils 
Essential oil diffusers can be very useful as well. Fresh, neutral scents such as lavender and lemon are best. If you don’t want to invest in a diffuser you can dab a drop of oil on cold light bulbs before turning them on. As the bulb warms up it will give off a subtle fragrance. Avoid using plug-in air fresheners or candles as they can be too strong.

Clean Air 
If you have an air purifier, use it! They can be extremely effective in removing any lingering odors. Also, open the blinds, and crack your windows to allow fresh air inside.

Fore more tips on how to make that first great impression, give me a call- Carrie Summers 970-759-2540.

What to Repair Before Your List

When you’re getting ready to list your home, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top five recommended repairs to make before selling your home.

Repaint walls.

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair floors.

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh the landscaping.

Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.

Fix your fixtures.

Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment

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The Difference between Home Warranty and Home Insurance

When purchasing a new home, it’s important to do in-depth research on all facets of the homebuying process. One thing you’ll need to understand is how to best protect yourself and your investment if anything were to go wrong. Check out the information on home insurance versus home warranty below to educate yourself on your options.

Home Insurance

Homeowners insurance pays for any accidental damages and loss that are caused by fire, lightning strikes, windstorms, and hail, however, damage from earthquakes and floods is typically not covered. It also covers the replacement of personal property in case of theft or damage and liability if a person were to get injured in your home or on your property. According to American Home Shield, the average annual cost of a homeowner's insurance policy ranges between $300 and $1,000, and the bank usually asks you to obtain a policy before the mortgage is issued. Make sure to keep in mind that each type of coverage in the policy is subject to a limit and, in most cases, you will have to pay a deductible.

Home Warranty

A home warranty is designed to cover the cost of repairs and replacements of larger appliances and crucial systems in your home that may fail or break due to age and wear and tear. This includes but isn’t limited to HVAC, electrical, or plumbing components, kitchen appliances, and your washer and dryer. With a home warranty, you are required to pay premiums year-round, even if you do not use it, and it won’t cover damages if appliances were not maintained properly or if the damage is from a fire or other disaster.

Time to Prune!

Curb appeal is very important.  If you are thinking of selling, now is the time to take a look at your place thru new eyes.  Do you have trees that are growing too close to your home, or fruit trees that need trimming? 

I highly recommend Underwood Forestry.  Steve Underwood and his crew do an excellent job.  I had Steve do fire mitigation around my home and my pear trees at my office are prolific due to regular pruning.  Call Steve at 970-560-9800 for all your tree business.  This is money well spent because a home that has beautiful trees is more valuable than a house with trees that are dead or unruly.  

Need other ideas?  Call me, Carrie Summers with Colorado Ranch & Home Realty 970-759-2540.  I'm here to help!

Southwest Colorado Home For Sale!

Selling? Things to do and NOT do.

Here's some tips of things to do and NOT do when selling your home.

1.  Don't try to sell it by yourself.  For sale by owner homes sell typically for 20% less than with a Realtor.  Plus do you know what to disclose? You could be opening up a huge can of worms by trying to do it yourself. 

2.  Have the Realtor do a market analysis.  Look at similar homes that are on the market, and that have sold to set the price.

3.  Once listed, make sure you have the home looking it's best.  Clean up the front yard, maybe a fresh coat of paint on the deck, and declutter!  Do not plug in air freshners to cover up a smell.  Remove the cat litter boxes, make sure all animals are outside of home and won't bug or bite a potential buyer. 

4.  Allow the Realtor to put up a sign.  I understand you don't want "looky lous" however you want it to sell so we need to get the word out.  Share your listing with all your friends, co workers and share on social media. 

5.  When you do have a showing, do not be around.  Buyers want to feel comfortable looking around and do not want a tour or story from you. Put a snack on the counter for Buyers with a note, saying "Enjoy the view"!  You want the Buyers to linger and not feel rushed.  Put together a list of things you love about the home and leave on the counter along with a plat map of the home. 

In today's market it is a Seller's Market since there are few homes for sale.  Be sure to put your best foot forward to get top dollar. 

For more tips, please give me a call.  Carrie Summers 970-759-2540  MancosHomes.com

Are you looking for a new home?

Have you been looking at homes online and dreaming about a new home?  If you have started searching, you might be frustrated.  Buying a home is a very important decision and you want to make sure you are doing everything right.   Here are some tips.

1.  Get prequalified for a loan-  I recommend talking to a few lenders and see what they offer.  First time home buyer, or veteran?  There are no down payment loans out there for you!  Once you are prequalified than you are ready to start the search.
2.  Hire a Realtor who will become your trusted advisor.  They should know the area,  are easy to reach, and can work around your schedule. Get references, and google them.  Do they have a website,  and Facebook page? Get a list of their homes they have sold, and speak to their buyers.
3. Your Realtor will search all listings on the internet, for sale by owners and will be able to help you narrow down your search.  They will be able to tell you if a home is over priced, the history of the home, and do comparisons.
4.  Once you find a possible home,  drive by it and go see it at different times of the day.  Are there barking dogs,  strange neighbors or outside lighting that you don't like in the area?  This step is so important.  Many people don't want to live in a subdivision with covenants.  Well if you don't there is nothing stopping your neighbors property to become junky, loud or a pig farm.  
5.  If after searching for a home you just can't find a suitable home, you might want to consider building.  Builders in Mancos are getting $150 a square foot, and a typical 5-10 acre lot will cost you around $65-90k.

Check me out on Zillow and ask about me at the coffee shop.  I'm here to help!

Are you ready to sell your home?

Should I sell my house?  If you have been asking yourself this questions, I've got great news.  It's a great market for sellers.  There are a shortage of homes on the market which drives home prices up.  

Here's some things to ask yourself.

1.  Are you emotionally ready to sell your home?  Are you ready to put in the work to get your home ready for sale?  Yes, it's a big chore and I can help you declutter and make that first impression a good one.  Are you ready the reasons potential buyers don't like your home?  Are you ready to leave those memories created in the home?  

2.  Do you have equity in your home?  You need to know what your home is worth.  Look at your mortgage statement balance and call me for a Comparative Market Analysis (CMA).  With these two things I can help you determine your equity.    Do you owe more on your home than it's worth?  Probably not since the last several years home values have been rising and that means you are building equity.  

3.  So how much equity do I need?  You want to have enough equity to pay off your current mortgage with enough left over to provide a 20% down payment on your next home.  Having this 20% will help you keep your next private mortgage insurance (PMI) down.  

4.  Are you out of debt and have cash in the bank?  This is super important that you have money to pay for emergencies.  So how much?  You should have at least 3 months of expenses saved up.  Need help working on a budget or figuring this out?  Call me.

5.  Does your current home fit your lifestyle?  Is it too small for your family or too far away from the school?  Do you really want to spend all your time shuffling kids around?  Maybe your home is too big, now the kids are out of the house or there are just too many stairs.  

These are really important things to consider.  I'm here to be your trusted advisor.  Call me, Carrie Summers and lets talk.  970-759-2540

I've got Buyers!

Each day, my list of buyers grow.  There is a shortage of homes for sale!  These buyers are prequalifed for a loan or have cash to act now.  If you are thinking of selling, this is the time to list!  Need help getting your home ready?  Just call me!  Currently I'm looking for the following properties.

1. Single level 2 bedroom home with garage, stick built, 5 acres, under $350k in Mancos, Cortez, & Dolores area..
2. Intown Mancos 3 bedroom home or on outskirts under $400k.
3. Land 10 acres or more, no covenants. Under $150k
4. Single level home with 5-20 acres under $400k
5. Remote home, off grid, year round access under $275k

MancosHomes.com  970-759-2540.  We are here to help!

The Right Smell Can Help You Sell Your Home

Every home smells like something.  It could be the fish you just cooked last night or the cookies.  People can remember smells with 65% accuracy after a year.  Visual recall, on the other hand, is only about 50% after 3 months.  During one of our realtor tours several years ago, I went into a home that had such a strong cat odor. I still remember it like it was yesterday.  All of the realtors walked in the door and immediately went outside.

If you are going to sell your home, the deep cleaning you do will help with the smells.
~ wash pet beds and clean litter boxes then put in garage
~ put muddy boots in garage and in a bag
~wash curtains
~have carpet professionally cleaned

So what kind of smells help sell your homes?  Just don't put a freshener.  Some of them, are too potent and are offensive.  I suggest simply cracking a window.  If it's warm outside, leave the door open.  Fresh air is just that fresh!  Research also shows that homes that smell of lemon, orange, vanilla, pine, cedar and cinnamon can help you sell.  You can put a few essential oil drops around the home or use a diffuser prior to a showing.  Just remember to turn off the diffuser.  No one wants to see a diffuser, since people might think "what are they trying to cover up?"

You want the potential buyer to linger in your home, so I suggest baking cookies and having cups of water for them.  Leave a note that says "Enjoy".

Pricing Your Home to Sell

When homes are priced properly to begin with they sell quickly and usually for the most money.  The above home was under contract within just 2 weeks of listing for full price.  

Overpricing reduces advertising responses, loses interested buyers, has fewer showings, eliminates offers and helps sell competition's home.  It also extends how long it will take to sell your home.

Realtors do not set the price, the market does.  Market values determine the price you should ask for your home.  It is determined by using comparable homes that have sold within the last 6 to 12 months and ones that are currently for sale.

A Comparative Market Analysis of your home will provide you with the necessary facts for setting the sales price. If you would like to know what your home is worth, give me a call Carrie Summers at 970-759-2540.  

During the first few weeks of a new listing, your home will have the largest impact.  The home should show its best and be well priced.  

I've lived in Mancos for 28 years and would love to help you.  Check out my reviews on Zillow.com.   

How do interest rates affect my home purchase?

When you’re paying interest on a home loan, it’s amortized over the life of the loan.  That means that in the beginning of your loan term, most of your mortgage payment will go toward paying off interest. Over time, a larger percentage of your monthly payment will be applied to your loan’s principal balance. 

When interest rates are low, home ownership is more affordable. If you don’t have to spend that much money on interest, you may be able to take on a larger loan. Higher interest rates, on the other hand, increase the long-term cost of owning a house

Rates ended the week with the 30 year fixed conforming rate at 4.625%. All predictions are that interest rates will rise throughout 2019.

Nothing affects a home’s affordability more than interest rates. After all, we live with the monthly payment, not the amount of the loan.

Look at the chart below depicting the monthly payments for 30 year loans of $400,000 and $750,000.

As you can see, just a 1% change in the interest rate can have a drastic effect on the monthly payment.

I'm here to help, call Carrie with questions 970-759-2540.