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!

Free Fishing Weekend – June 6 to June 7, 2020

 

 

Free Fishing Weekend – June 6 to June 7, 2020

                  A great time to try fishing in Colorado!

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The fish are starting to bite at waters all around the state. To give everyone an opportunity to get out and get some hits, Colorado Parks and Wildlife is inviting resident and nonresident anglers of all ages to participate in its annual Free Fishing Weekend on June 6 to 7. The free fishing weekend is a great way to get outside with family and friends and take advantage of Colorado’s extensive opportunities to fish for a myriad of cold and warm water fish species.

Tips & Hotspots

There are many resources that Colorado Parks and Wildlife offers to help those interested in fishing throughout the state:

  • Fishing Report– This report offers a weekly fishing report from lakes all around Colorado
  • Fishing Atlas– This is an interactive map that shows the many waters people can fish in Colorado
  • 101 Places to Take a Kid Fishing– this webpage has an interactive map showing all of the possible places to take a kid fishing
  • Stocking Report– The stocking report shows lakes, ponds, and rivers that have been stocked with catchable (9 to 12 inch) trout in Colorado.

https://cpw.state.co.us/free-fishing-weekend

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

 

objective       Bingo

We are all in it TOGETHER!

We are all in it TOGETHER ! #HumansOverHouses!

BIG SHOUT OUT to a NextHome RMR client, SUE BRATT! Sue sent us home made masks for our staff. What an amazing gesture of kindness . During this pandemic there is so much kindness & thinking of others, it truly warms our HEARTS. Thank you Sue WE LOVE THEM!!

Our Masked Brokers/ Owners Britney & Rick

 

Property Manager Veronica Medina

 

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?

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Snow Report

Do you love to Ski or snow board? If you said yes, it is the perfect time to come to Pagosa Springs,CO

Wolf Creek Snow Report

SNOW REPORT: JANUARY 17, 2020 

CURRENT CONDITIONS

Summit Depth Midway Depth Latest Storm Snowfall YTD
80″ 73″ 4″ 224″

SNOWFALL IN THE LAST…

24 Hours 48 Hours 72 Hours 7 Days
4″ 4″ 4″ 27″

SKIES

Currently:
Snowing Moderately

CURRENT WEATHER

Temperature:
18°
Yesterdays High:
21°
Forecast:
Heavy Snow with a High near 23°
Last Nights Low:
18°
Road Conditions:
Plowed and Sanded with Winter Driving Conditions