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!

Buying Homes During Covid-19

Buying a Home During The Coronavirus Pandemic

Coronavirus has made many things uncertain in our lives. From high school graduates trying to leave for college, to world travelers dealing with border restrictions due to the pandemic, to 16 year olds buying their first car, we are all being affected in one way or another.

Buying a home can seem like an impossible task right now, but you may be surprised to learn there are actually several advantages to purchasing property during this pandemic! Below, we’ve listed a few advantages to buying a home during the coronavirus pandemic.

  1. Fewer People Shopping – Most people are nervous to buy during this time of uncertainty. This can work to your advantage as there will be less competition to purchase the house you want!
  2. Low Interest Rates – Interest rates are at an all time low right now, you might as well take advantage of it!
  3. Surplus of Listings – Covid-19 has pushed many people to change the way they are living and to make big decisions… such as listing their homes for sale! This can help you as there are many home options currently on the market, and not many buyers to compete with.
  4. Mountain Towns are Safer! – This one is more specific to Pagosa Springs and surrounding areas.. Where would you rather be during a pandemic? A crowded city? Or a serene mountain town with a population less than some larger neighborhoods? I know what my choice is!

These are just some of the pros of buying a home during these strange times. I hope this article has given you the extra push you need to go out and find your dream home! You can view homes currently for sale in Pagosa Springs here, or give us a call to let us know what you’re looking for!

 

Photo by: Gavin Kiker
Photo by: Gavin Kiker

 

 

 

 

JUST LISTED! 318 Grenadier

SPACIOUS 4 BEDROOM HOME IN LAKE HATCHER AREA WITH MOUNTAIN VIEWS! This home has great mountain views and plenty of yard for all activities or just to sit on the deck and enjoy the peacefulness. Lake Hatcher subdivision has so much to offer if you prefer to not be in the heart of tourism and traffic. Only 6 miles to the grocery store and access to the 5 stocked lakes and the Rec center which houses the indoor salt water pool, Jacuzzi, weight room and more. Hatcher lake being a trophy lake, this home would be a dream for the family fisherman. Views of Pagosa Peak. The upstairs is like a huge master suite with its own deck and family room. Downstairs are the other 3 bedrooms including the original master. Dual Masters! Both levels of the home have their own free standing stoves. Sellers are motivated to sell and are looking for a new family to enjoy their mountain home Pagosa.

 

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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

 

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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 .

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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!”
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New Home Owners

Relocation can be difficult, NextHome RMR can make the process a smooth one. Pam & Erin brought their family to Pagosa Springs in search of what we have fallen in Love with~ COLORADO !  Congratulations to them on their purchase of their home. Please welcome them to our lovely community.

Erin and Pam

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Welcome to Pagosa Springs !

Pagosa Springs we have another wonderful Family that have relocated and purchased a home here. NextHome RMR is very excited to welcome Erin & Pam to Pagosa Springs. Relocation can be difficult but when you have the support needed  the process can be smooth. We here at NextHome RMR are all about the people. # HumanOverHouses !!!!

Erin and Pam