Common Real Estate Questions

Real Estate Questions Answered

In this post we cover a few of the common real estate questions that we get asked!

Real Estate Questions
Staged Home

Buyer’s Market or Seller’s Market – You’ve probably heard the terms “buyer’s market” and “sellers market” at least once when discussing real estate. While these may sound confusing, they are actually pretty basic terms! A Buyer’s Market is when the inventory of property exceeds the demand for property. This puts the buyer at an advantage because there are a lot of properties to choose from at competitive prices. A Seller’s Market is when the inventory of properties is low but the demand is up. This puts sellers at an advantage because there is less competition, so they can ask more for their property!

Build vs Buy – This question is a common one, especially in areas with many lots for sale, such as Pagosa Springs. Building a home can be a great option for a few reasons. You can choose where you want to build, how big you want your home, and exactly how you want it to look and function! New builds may have unexpected costs or complications that you must consider in the initial build cost. Buying a home already built may be a better route for many buyers. These homes are usually ready to move in much sooner, the prices are typically negotiable, and you don’t have the same upfront costs that come with a new build. The cons of buying a built home include older appliances and other things that may need maintenance sooner. You are also more likely to compromise on features you may want when purchasing a pre-built home. There are many pros and cons between building and buying a home; it really comes down to what you think will work best for you and your lifestyle!

Buying a Foreclosure – A foreclosure is a home that’s seized and put up for sale by the bank that gave the original owner a loan. When you see a home listed as “foreclosed,” it means that it’s owned by the bank. Foreclosures are usually less expensive, have fewer title concerns, and often have a great renovation potential. Foreclosures are usually sold “as-is” so there are maintenance concerns that you as the buyer would be responsible for fixing. There are many ways to get a loan for a foreclosure, and if you have a licensed agent helping you throughout the process, a foreclosure can be a great investment!

Should I Get Pre-Approved First? – The answer is YES! Pre-Approval should be the first step you take when preparing to buy a home. This is how you know how much you can afford, if you can afford a home. You don’t want to shop until you find the perfect home, only to realize you can’t quite afford it! If you have any questions on how to start this process, give us a call at (970) 507-8655.

Who Pays The Realtor Fees? – This question is pretty easy to answer! Typically in a home sale, the seller pays the realtor fees, as they are the ones making money on the transaction. The amount the seller pays is negotiable and may vary from deal to deal.

Common Closing Expenses – Typically, the home buyer will pay 2-5% of the purchase price of the home in closing fees. These fees will cover the cost of things like insurance, inspections, taxes, attorney fees if applicable, credit checks, etc. The average total closing cost in the United States is $3,700.

How To Prepare For Showings – Showing your home to strangers can be strange, especially when you are only getting little notice beforehand. You should be ready to show at all times; staying flexible is important as everyone has different schedules. That last minute-showing could be the one that sells your home! It is best to leave the property for showings as prospective buyers will be more comfortable talking about the property. If you have pets, be sure they are picked up after and make a plan of where to take them during showings! To see our post on home staging, click here!

If you have any further real estate questions, please feel free to give us a call at (970) 507-8655. You can see the homes we currently have listed for sale on our featured page. Let us help you find your Next Home!

Vacation Rental

Davis Cup Available Now!

We have a newly listed condo available for rent in core area of Pagosa! With two beds in the loft and a high-tech steam shower downstairs, this space is perfect for your next Pagosa Springs vacation. Located within the Pagosa Lakes Property Owner’s Association, this rental gives you access to a rec center with indoor saltwater pool, Jacuzzi, weight room, and exercise classes. You will also have access to several stocked lakes in the area for your fishing and boating needs.

Check the full listing out here for more information. To view our full inventory of rental properties, click here: Vacation Rentals

Vacation Rental

Time To Go Hiking!

Hiking In Pagosa Springs

With July ending, and Pagosa getting much needed afternoon rain showers, it’s the perfect time to hit the trails and do some hiking!

Pagosa Springs is full of hiking trails, ranging from easy 1 mile hikes like the Piedra Falls trail, to more difficult 9+ mile hikes up into the High Country; such as the Little Blanco Trail, Fish Lake Trail, or the popular Pagosa Peak hike.

You can check out all the trails in Pagosa here: AllTrails.com

No matter what difficulty trails you are wanting to tackle, it is important to properly prepare for your adventure. Here are some general guidelines to insure you have an enjoyable experience:

  • Pack Plenty of Food and Water – You should drink 1 liter per hour while hiking, ideally. Snacks should provide good energy, no candy!
  • Carry a Flashlight and Waterproof Matches – Just in case you need to stay longer than planned
  • Bring a First Aid Kit – This one is pretty self-explanatory, if you get a cut, you can cover it up!
  • Leave Early – Afternoon showers are very common up in the mountains and you don’t want to be stuck in a lighting storm!
  • Stay On Trail – Preserve the land and views for future generations to enjoy!
  • Let Someone Know Your Trip Itinerary – If you become lost or injured and don’t contact them, they’ll know to send help.
  • Pace Yourself – You don’t want to be worn out halfway up the trail, take your time hiking and enjoy the southern Colorado scenery.
  • Enjoy Nature! – Put your phone down and take in the landscapes of this beautiful area!

With all the trails here in Pagosa, there is no reason not to get out and explore!

Quartz Ridge - Photo By: Gavin Kiker
Quartz Ridge – Photo By: Gavin Kiker
Little Blanco Trail - Photo By: Gavin Kiker
Little Blanco Trail – Photo By: Gavin Kiker

SUMMER TIME~ PAGOSA STYLE

Well it is official, PAGOSA SPRINGS IS OPEN FOR BUSINESS!!

2020.6.3 river

The weather is beautiful & there is plenty of water in the San Juan River to go rafting.  As we all start to get outside more and realize how much we have missed nature. Lets take this to time to EMBRACE LIFE ~ enjoy everyday, tell the ones you care about that you care, do the things that you have longed to do. Enjoy everyday and be thankful for this day.

If you are in need of a vacation rental while in Pagosa Springs, CO or maybe you are moving to Pagosa Springs- or maybe you are looking to BUY in Pagosa Springs, CO – YOU ARE IN LUCK !  We can assist you with all of that, WE have Short term & Long term rentals as well as a experienced & talented Real Estate Agents.

please visit our website at nexthomermr.com or call us at 970-507-8655.

 

Supporting our Pagosa Business

Support our local businesses & a chance to WIN A GIFT CARD! We here at NextHome RMR would like you to join us in supporting our local restaurants because WE NEED them to be here after this pandemic.  BINGO is our way to assist in supporting our community.  Thank you PAGOSA SPRINGS  because you always show up and take care of our own! Lets PLAY BINGO! #HumansOverHouses

 

objective       Bingo

Now Offering ~ Virtual Open House Tours

Come check out our Virtual Open House Tours! We are the first to offer this service in Pagosa Springs. We are very excited to be able to provide this opportunity to you. The first set of homes we will be showcasing, Twincreek Subdivision, Pagosa Trails & Aspen Springs. Facebook Live is where the action will be for the  Virtual Open House Tours on Saturday & Sunday April 19 & 20th starting at 4pm .

4Virtual Open House

#HumansOverHouses

We shut down our vacation rentals mid March, as soon as we were aware it was a risk to our community. We cancelled all the Spring break reservations because it is All ABOUT the people and not the money #HumanOverHouses.
This article is spot on!

OPINION: Pagosa Vacation Rentals Banking on COVID-19 Business?

Vet Credit !

“SOLD BEFORE LISTED!
CONGRATS to our sellers Susan Shanke and Tom Klarstrom for closing on their home in Lake Hatcher area. Britney Chaisson was able to get this one under contract with her buyer, Steve Plante before she could get it listed. We are so grateful that we were able to help both Vets to complete this purchase. Of course both parties were able to benefit with our in house reduced commission of 4% total and a Vet credit towards their closing costs to show our NextHomie support to our local Vets here in Pagosa Springs. Congrats to everyone involved and Welcome to Pagosa Steve!”