You are here: Home / Longmont Home Buyers

Spec Homes: Good Alternative For Families | homes in Longmont Colorado

August 18, 2010 By admin Leave a Comment

Spec Homes could be a great choice for families who are thinking about purchasing real estate. Regularly, people believe that custom manufactured homes are the ideal new home; but they often come with a long list of troubles. A Spec Home, by contrast, is quicker, generally more budget-friendly, and of very high quality.

Spec Homes are typically manufactured by builders based on their own plan, rather than that of the buyer. This can only mean two things. Firstly, it can mean that the construction company has completed a house, and is seeking a buyer after the fact. Second, it can mean that a construction company has a set of options that a buyer can decide from, and a new construction will be put together based on those limited selections.

Are you planning a move, but haven’t found the perfect piece of real estate just yet? Use the amazing MLS solution from Automated Home Finder to search for Longmont CO real estate. Enter your search requirements and see all the real estate listings that match your criteria.

This procedure is far speedier than a new build. Construction companies of Spec Homes work with the same distributors on every job. Their job can be done quickly and efficiently,, since they do it the exact way each time. If you need the convenience of getting into your new residence fast, and are ready for a somewhat restricted set of options on the design, a Spec Home is possibly for you.

Spec Homes might be built for a much lower total expense than custom built houses. Contractors buy large quantities of building supplies at a lesser cost, making the overall cost for the buyer less as well. They are also less in cost because they take less time to construct. Because Spec Homes are primarily so cost-efficient, they also frequently garner a much more substantial return on the investment.

Spec Homes have a reputation of being of lower quality than custom constructed properties, but this is not accurate. The use of computer systems in the mass-production of Spec Homes lead to a higher quality product. Builders, who deal primarily with the exact same design and materials each time they build a house, put them together on site. Quality of construction is not an issue for Spec Home owners. Spec Homes prove to be a great option for families who are looking for a quality product fast.

Learn more about home maintenance and Highlands Ranch CO homes for sale. You can easily discover more about Colorado cities and what they have to offer. Our team of agents can help you sort through the homes for sale in Evergreen CO and get you that home you have always dreamed of.

Filed Under: Longmont Home Buyers

Home Equity Scams To Avoid In The Longmont Real Estate Market

August 11, 2010 By admin Leave a Comment

Scammers are invading the Longmont real estate market and will do just about anything to strip you of your hard-earned cash! Before you believe the fast-talking crooks, read about something that might save one of your best assets – your home.

Equity Stripping
You need money but your income isn’t enough to cover you every month, but you realize that you have built up your home’s equity. You go to a lender, and he tells you that he could get you a loan. You make a list, but somehow your monthly income is just not enough to keep up with the monthly fees. The lender eggs you on edit your income a bit on the application form to get the loan approved.Don’t be fooled by this. He is probably out to steal the equity of your home. He doesn’t care if you can’t keep up with the monthly fees, because when you don’t pay, he will foreclose your home and strip you of the equity you have built for years. And you’ll probably lose your home in the process.

Ballooning
You failed to pay your mortgage for a few months now and you may be facing foreclosure. Mister Lender appears and offers to save you from foreclosure. He will be the one to finance the mortgage, thus lowering your monthly payments. But before all those, look carefully at the term of the loan.

Hidden Loan Terms: The Balloon Payment
You’ve fallen behind in your mortgage payments and may face foreclosure. Another lender offers to save you from foreclosure by refinancing your mortgage and lowering your monthly payments. Look carefully at the loan terms. The payments may be lower because the lender is offering a loan on which you repay only the interest each month. At the end of the loan term, the principal-that is, the entire amount that you borrowed-is due in one lump sum called a balloon payment. If you can’t make the balloon payment or refinance, you face foreclosure and the loss of your home.

Loan Flipping
Suppose you’ve had your mortgage for years. The interest rate is low and the monthly payments fit nicely into your budget, but you could use some extra money. A lender calls to talk about refinancing, and using the availability of extra cash as bait, claims it’s time the equity in your home started “working” for you. You agree to refinance your loan. After you’ve made a few payments on the loan, the lender calls to offer you a bigger loan for, say, a vacation. If you accept the offer, the lender refinances your original loan and then lends you additional money. In this practice-often called “flipping”-the lender charges you high points and fees each time you refinance, and may increase your interest rate as well. If the loan has a prepayment penalty, you will have to pay that penalty each time you take out a new loan.
You now have some extra money and a lot more debt, stretched out over a longer time. The extra cash you receive may be less than the additional costs and fees you were charged for the refinancing. And what’s worse, you are now paying interest on those extra fees charged in each refinancing. Long story short? With each refinancing, you’ve increased your debt and probably are paying a very high price for some extra cash. After a while, if you get in over your head and can’t pay, you could lose your home.

The “Home Improvement” Loan
A contractor calls or knocks on your door and offers to install a new roof or remodel your kitchen at a price that sounds reasonable. You tell him you’re interested, but can’t afford it. He tells you it’s no problem-he can arrange financing through a lender he knows. You agree to the project, and the contractor begins work. At some point after the contractor begins, you are asked to sign a lot of papers. The papers may be blank or the lender may rush you to sign before you have time to read what you’ve been given. The contractor threatens to leave the work on your house unfinished if you don’t sign. You sign the papers. Only later, you realize that the papers you signed are a home equity loan. The interest rate, points and fees seem very high. To make matters worse, the work on your home isn’t done right or hasn’t been completed, and the contractor, who may have been paid by the lender, has little interest in completing the work to your satisfaction.

Credit Insurance Packing
You’ve just agreed to a mortgage on terms you think you can afford. At closing, the lender gives you papers to sign that include charges for credit insurance or other “benefits” that you did not ask for and do not want. The lender hopes you don’t notice this, and that you just sign the loan papers where you are asked to sign. The lender doesn’t explain exactly how much extra money this will cost you each month on your loan. If you do notice, you’re afraid that if you ask questions or object, you might not get the loan. The lender may tell you that this insurance comes with the loan, making you think that it comes at no additional cost. Or, if you object, the lender may even tell you that if you want the loan without the insurance, the loan papers will have to be rewritten, that it could take several days, and that the manager may reconsider the loan altogether. If you agree to buy the insurance, you really are paying extra for the loan by buying a product you may not want or need.

Mortgage Servicing Abuses
After you get a mortgage, you receive a letter from your lender saying that your monthly payments will be higher than you expected. The lender says that your payments include escrow for taxes and insurance even though you arranged to pay those items yourself with the lender’s okay. Later, a message from the lender says you are being charged late fees. But you know your payments were on time. Or, you may receive a message saying that you failed to maintain required property insurance and the lender is buying more costly insurance at your expense. Other charges that you don’t understand-like legal fees-are added to the amount you owe, increasing your monthly payments or the amount you owe at the end of the loan term. The lender doesn’t provide you with an accurate or complete account of these charges. You ask for a payoff statement to refinance with another lender and receive a statement that’s inaccurate or incomplete. The lender’s actions make it almost impossible to determine how much you’ve paid or how much you owe. You may pay more than you owe.

Signing Over Your Deed
If you are having trouble paying your mortgage and the lender has threatened to foreclose and take your home, you may feel desperate. Another “lender” may contact you with an offer to help you find new financing. Before he can help you, he asks you to deed your property to him, claiming that it’s a temporary measure to prevent foreclosure. The promised refinancing that would let you save your home never comes through.
Once the lender has the deed to your property, he starts to treat it as his own. He may borrow against it (for his benefit, not yours) or even sell it to someone else. Because you don’t own the home any more, you won’t get any money when the property is sold. The lender will treat you as a tenant and your mortgage payments as rent. If your “rent” payments are late, you can be evicted from your home.

Scammers are branching out from more urban cities like Aurora CO and Denver Colorado in order to reach more home buyers. Be careful of any offers that sound to good to be true when you are buying any real estate.

Filed Under: Longmont Home Buyers Tagged With: equity stripping, hidden loan terms, Longmont Real Estate

What Should Longmont Colorado Real Estate Owners With Pets Need To Be Concerned About While Moving?

July 31, 2010 By admin Leave a Comment

Longmont Colorado real estate owners realize that moving isn’t only stressful on them; it’s stressful on their pet too! Like children, pets have to adjust. There are new animals to be acquainted with, and new scents, new marking spots, new territories. Here are some tips to consider before moving to a new place – after all, your pet is also a part of the family.
If you’re traveling long distance (like a few states away, or out of the country) consider your pet’s physical condition, temperament and age before you decide to let them tag along. It’s usually very taxing on most animals, and perhaps it’s better not to bring them along. I was forced to bring my teddy-bear hamsters for an eight-hour long ride, and one of them died because of the stress.

Minimize stress by doing away with as many surprises as possible during moving time. Determine the factors: the way you plan to travel, the time length of the trip, and the possible temperature your moving place has. If you plan to fly with your pet, consider taking along a permit. There are states (or countries) that have rules on the bringing in of pets. Consider also bringing with you your pet’s papers, a tag on the collar and several photos just in case they get lost during the move.

Visit your vet to consider the condition of your pet. Get a full checkup, and whatever shots your pet needs. Also, discuss with your vet the travel modifications or meds that your pet needs to make the trip easier for it.
Get the right carrier for your furry friend. Make sure that it has lots of room to move around, so that it can have a little exercise and comfort during the trip. Lots of pet stores out there have the different sizes to cater for your different needs. Also, have your pet spend some time inside the carrier, so that when moving time comes, there won’t be much fuss.

No matter how you’re relocating, you have to need the basics for your pet – store it in a travel kit! This usually includes food, water, treats, plastic bags for little accidents, the pet’s favorite toy or blankie, and a brush or comb. This saves the hassle of having to stop by and look for stuff in an unfamiliar location.
Don’t forget to forget all the handy things that make your pet feel at ease and contented (that includes the bed, toys, water bowls, and food containers) and put them in a place where you can take it out rapidly and help your pet get used to their new environment.

Once you’ve arrived at your destination, all the hard work for unpacking, rearranging and getting settled can commence. Your furry companion will thank you for making it feel like you’ve brought ‘home’ with you.

Residents in Boulder CO and Nederland CO, which are two other animal friendly cities, are also aware of the stresses involved when relocating with animals.

Filed Under: Longmont Home Buyers Tagged With: Longmont Colorado real estate, moving with pets, pet stress

What Warranties Are Availaible For Real Estate In Longmont Colorado?

July 24, 2010 By admin Leave a Comment

When you are looking at real estate in Longmont Colorado be sure to also look at the homeowner warranties. Homeowner Warranties are contracts of security especially crafted for the protection of a house. This is similar to the service contracts drafted in the purchase of new cars. This warranty is useful in the full protection of a major investment by covering the possible breakdowns that can happen in the important systems such as security, electricity and water, as well as the in the appliances in your home.

Home warranty and home insurance: What’s the difference?
Homeowners warranties may seem similar to the benefits offered by a homeowner’s insurance. However, there is a big difference between these two home security contracts. Home insurance policies specifically address the major hazards that can occur in your home. These are damages caused by fire, wind, water and other calamities. A homeowner’s warranty, on the other hand, is made for the repair or replacement of appliances and major systems that have failed to function properly dude to wear and tear.

Purchasing homeowners warranties has become a necessity, especially among new homeowners who want to be extra cautious in securing optimum protection for their home. As a result, many home sellers have started to include homeowners warranties with their property sale. This makes their home more competitive and attractive to home buyers. This also gives them an edge against other home sellers in the tight real estate market. For home buyers, they feel more secured and comfortable with the assurance that their purchase will be not be vulnerable to any unnecessary expenses for a specific time duration.

Different plans provide for specific services. However, most warranty policies follow the same operation. The home owner must be observant of the appliances and home systems installed in the house. If any breakdown occurs, the home owner contacts the warranty company. The latter contacts a service provider, who will fix the problem of the home owner. The homeowner is only to pay a small fee to the service provider.

Homeowners warranties: What is the price range?
A homeowner’s warranty is relatively affordable. The prices of these contracts range from USD 250 to 450 per coverage. Quotations for a contract depend on the inclusions of every warranty package. Some companies offer sales and discounts on home warranty by providing additional services for the same price of the policy. Warranties are usually paid one year advance and can be renewed upon its expiry.

Different policies have different coverage. Before making any purchase, be sure to consult with your real estate agent about all the features and possible upgrades. These agents can also assist with finding warranties for other cities such as Erie CO and Cherry Hills Colorado.

Filed Under: Longmont Home Buyers Tagged With: homeowner’s insurance, homeowner’s warranties, real estate in Longmont Colorado

HUD Homes In Longmont CO

July 22, 2010 By admin Leave a Comment

To make things simple, HUD stands for the United States Department of Housing and Urban Development. This department is a government agency that works under federal regulations and oversees government property foreclosures. These homes in Longmont CO are obtained by HUD only after a home enters the process of foreclosure.

How did these foreclosures come about?
Not all foreclosed homes are categorized as HUD or government foreclosures. HUD homes were assets with FHA (Federal Housing Administration) insured mortgages. Because these homes are insured by the government, the property’s control regresses back to HUD if the owner fails to pay their loan.

How to they differ from Resale Homes?
There are a lot of factors that differ HUD homes from resale real estate homes. These are the differences:
Price
Inspections
Entering into Contract
Negotiation

Another significant difference is that the vendor of the HUD homes is a government agency with strict procedures that must be followed. During any step in the buying process, if the terms and timelines are not adhered to by the buyer, they might lose the HUD home they have under contract. This is a reason why well-informed realtors are very important. They guide you through the entire process and always look out for your best interest.

Foreclosures – Opportunity for Equity for the Government
The HUD usually try to sell properties that they obtain as fast as they can because every month the mortgage goes unpaid, money is lost. The entire procedure is built around the attempt to retrieve as much money as they can from the properties that were foreclosed. This compares to significant real estate opportunities for those who understand the foreclosure market. After the HUD takes possession of the home that has been foreclosed, an appraiser comes out and assesses the value of the property. Based on this evaluated price and how much is left to be paid by the defaulted mortgage, HUD will decide how much the home’s price is. This information is then announced to the public so that bidding can commence on the foreclosed property.These HUD homes are priced below market value so that it is a real catch for investors, low income families and those who are just looking for a good deal. They are listed below market value because foreclosed homes have already had their mortgages paid down by the original owners, and because the HUD wants to put the home for sale quickly to earn whatever the remained is left on the mortgage or debt they’ve gotten from the foreclosed home.

Interested in buying?
These homes usually have one/four units in them, offering buyers a lot of investment options. The best news is, anyone can buy homes foreclosed by the government. However, there are people with priorities: certain professions like teachers and police officers, evacuees, and buyers looking for permanent addresses. Once a property is offered to a buyer, it is then made available to the rest of the world. The website HUDClips.org is a website where the government posts listings and foreclosed homes for sale. Only capable realtors can get you to the property to see it directly and actually put in an offer. Get your own affordable home, now!
Enjoy the Best Security with Homeowners Warranties.

Buying a home is a major decision. The last thing that a potential buyer wants to be burdened with after making a purchase is dealing with any defect or malfunction in the new house. Defects can vary in the multitude of parts and systems in the house. This is exactly why it is important for new home owners to have a protection plan for their home. For first time home buyers, read on to know more about homeowners’ warranties to fully protect and maintain your home.

HUD homes and foreclosures can be a great investment opportunity but need to be thoroughly checked out before purchasing. Lafayette CO and Broomfield Colorado are two other great cities that have a lot of these types of homes for sale.

Filed Under: Longmont Home Buyers Tagged With: foreclosures, homes in Longmont CO, HUD homes

Longmont Home Buyers

June 2, 2010 By admin Leave a Comment

Longmont Home Buyers

Filed Under: Longmont Home Buyers