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Buying a Home for the First Time? Here's How to Stay Protected

by Jason Daniels

If you’re about to make the jump into homeownership there are a few key things you need to consider. Thinking about these things will help protect you as you dive into the process.
 
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Buying a home for the first time can be a confusing process. There are a few things you need to do to protect yourself when you make the jump into homeownership.

The first thing you need to do is to find and work with an agent who understands your needs. This will be essential to a smooth transaction. It’s also important that your agent has experience in the area you want to buy in. Working with a quality agent is perhaps the most important aspect of the entire transaction.

Secondly, make sure you get preapproved from a reputable local lender. This will help you make sure that you are able to compete with other buyers, even those who are making cash offers.

Don’t pressure yourself into overspending on a home. You should always feel comfortable with your monthly payments. 

"Working with a quality agent is perhaps the most important aspect of the entire transaction."

Also, know your priorities before you start shopping. Consider what kind of floor plan you might want, as well as the number of bedrooms and bathrooms you’re looking for. Factors like these, as well as thinking about school districts, crime rates, and square footage, will help you narrow down your search.

The fourth thing you need to do to protect yourself is to understand current market conditions. Our market right now is red hot, so it’s important to understand how the process works when you go into it. Once you make an offer, your work isn’t done. At this point you’ll still need to get a home inspection.

A home inspection is going to help protect you against buying a money pit. Here in Colorado we’re known to have a lot of homes with structural soil problems, for example. It’s important to know what kind of home you’re buying before you go through with a transaction.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Key Questions to Ask When Interviewing Real Estate Agents

by Jason Daniels

How can you make sure to hire the best real estate agent for your needs? I have a few tips for you today.
 
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Not all real estate agents are created equal. Most agents that just graduated real estate school tend to charge the same fee as a 30-year veteran. So, what sets them apart?

You must choose wisely when hiring an agent. After all, your home has a lot of equity, especially in this market, and a house is usually most people’s largest purchase.

Here is a list of questions you should ask when interviewing agents:

1. Does the agent offer a cancelation guarantee at any time? We do.

2. Can the agent show their results through statistics? There are a number of important statistics to consider. What is their listings-to-sales ratio? In other words, how many homes do they fail to sell? What is the average days on market for their listing? What’s the list-to-sales price ratio? In other words, how does the final sales price compare to the price the agent set for the home? You should also ask how many homes they have sold in the past year and in their entire career.

3. Does the agent have a specific online marketing plan and overall pricing plan? 

"Professional photography is crucial since 94% of buyers start their search online. "

4. Does the agent have a team of specialists working with them to help you get the home sold? Or is the agent a solo agent?

5. Is the agent full-time or part-time? We are a team of full-time professionals.

6. Do they use professional photography? Professional photography may be expensive but it’s absolutely critical to have it in a market where 94% of buyers begin their search online.

7. Do they know the proper price for your home?

9. Do they know the neighborhood?

10. Do they have the skills, experience, and strategy in place to negotiate successfully on your behalf?

11. Do they have client testimonials?

Please refer to this list when you interview agents because these items are absolutely critical to the success of your real estate transaction.

If you have any other questions about hiring agents or if you would like to interview us, just give us a call or send us an email. We would be happy to help you!

Thanks for Making Our Black Forest BBQ Great!

by Jason Daniels

Our recent VIP client barbecue was a smashing success, and we want to personally thank you for attending.
 
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Thank you from all of us at Jason Daniels & Associates. As you know, we recently held our annual VIP client barbecue at Black Forest Regional Park, and we had a great time seeing so many people and their families come out and join us for what turned out to be a gorgeous Saturday afternoon.

"We couldn't do our job without you."

This event turned out to be a great success, and we owe it all to you for being one of you amazing clients. We couldn’t do our job without you.

In the video above, we provided a quick recap of all the day’s highlights. We hope you enjoy them as much as we enjoyed hosting you.

As always, if you have any questions or need our help in any way, we’re always happy to lend a hand. Just give us a call or shoot us an email and we’d be happy to help you!

Are We Seeing a Repeat of 2008's Bubble?

by Jason Daniels

There are three main reasons why Colorado Springs is experiencing high demand with much lower supply. But this doesn’t mean we are in a bubble.
 
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Right now in Colorado Springs, many people believe that we’re in the same bubble situation as we were in 2008.

As you may know, a real estate bubble occurs when there is an imbalance between supply and demand. But is this really the case?

The truth is that today in 2017 our circumstances are actually much different than they were in 2008.

Currently, demand is far outpacing supply. This is primarily because of three things.

First of all, the Denver real estate market is red hot. So because buyers can get a similarly sized home in a similar neighborhood here in Colorado Springs for $100,000 less, they are buying out much of the inventory in the north end of town.

The next contributing factor is that new home construction has been declining since 2008 and hasn’t kept up with the demand.

Prior to 2008, homes were being built at a rate of a million homes per year, but that number has since been cut in half.

Finally, demand is also high because of the large number of first-time homebuyers who are seeking out job opportunities in our area.

"In 2017 our circumstances are actually much different than they were in 2008."

As long as interest rates remain low, prices will likely to continue to rise in the next 12 to 18 months around 6% to 7%, meaning we are, in fact, not in a bubble.

Therefore, the next couple of years will look good for the market as long as demand stays strong.

If you have any other questions or would like help with any of your real estate needs, feel free to contact us by giving us a call or sending an email. We look forward to hearing from you soon.

Looking for Your Next Favorite Hiking Spot in Town?

by Jason Daniels

Colorado Springs has some great options for hiking, so today I wanted to tell you about some of our favorites.
 
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Now that we're in the heart of summertime, I wanted to provide a list of some of the best hiking spots here in Colorado Springs.

First, there's Garden of the Gods off 30th St., which has lots of great hiking trails and rock formations to check out. Down in that same region, you've got Red Rock Canyon Park, which has five miles of hiking.

Palmer Park is located centrally in town with five square miles of hiking space. If you're looking for waterfalls, look no further than St. Mary's Falls and Helen Hunt Falls. These two are especially great to check out in the summer.

"The Paint Mines make for a great change of scenery."
If you're looking for a challenge, check out the Manitou Incline, which is basically one mile of stairs straight up. We have people come from all over the country to try their hand at the Manitou Incline.


Just east of town, the Paint Mines are a nice change of scenery. It's filled with beautiful orange, yellow, and red rocks.

These are just a few of our favorite spots, so if you're interested in more locations or buying a home here in Colorado Springs, just give us a call or send us an email soon. We'd love to help!

 

Why Rent When You Can Buy?

by Jason Daniels

Making the leap from renter to homeowner isn’t as treacherous as you think. Homeownership offers many benefits that renting doesn’t.

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Buying a Colorado home? Search all homes for sale

 

Why buy instead of rent? Here are a few facts that demonstrate why it’s much wiser to buy and own your own home. 

First, rent prices in Colorado Springs rose more than 11% in 2016 and continue to rise in 2017. In fact, the latest Colorado Springs Gazette article states that prices have risen 10.5% in the first quarter alone. The average rent for an apartment is slightly more than $1,100 per month, while the average mortgage payment for a house is also $1,100.

When you own a home, you have more freedom to do what you want. There are also considerable financial gains to owning a home. For example, you will get a tax benefit for your mortgage interest deduction, and your mortgage payment will stay the same over a long period of time instead of rise as rents are prone to do. 

"Wouldn’t you rather own a home with your own yard instead of rent an apartment?"

Lastly, studies have shown that the average homeowner is worth 45 times more than the average renter. The only caveat to purchasing a home is you must make sure you will live in that home for at least three to five years so the purchase makes sense.

Why not get started by building equity in your home and building your wealth?

If you have any questions about the benefits of owning a home or you’re thinking about buying or selling a home, don’t hesitate to reach out to me. I look forward to speaking with you. ‚Äč

Where Is the Market Headed for 2017?

by Jason Daniels

Where is the Colorado Springs real estate market headed in the next 12 to 18 months? We’ve got your market update.

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Buying a Colorado home? Search all homes for sale

 

Where is the real estate market headed in Colorado Springs?

Currently, the market is red hot. Year to date, from 2016 to 2017 the average sales price for the first quarter is up 11.7%. The median sales price is up 10% to $275,000, and the sale of residential units is up 2.2%.

Inventory levels are down 34.9% and the number of listings is down 26.6%. The number of foreclosures is also down 31.9%. 

The average number of days that homes are staying on the market is around 36 days, and interest rates are up to 4.1%. With all of this in mind, the $400,000 or lower price range is a seller’s market. We should see that continue to be a trend for the next 12 to 18 months, so if you’re looking to sell, now is a good time.

"Prices will most likely continue to rise for the next 12 to 18 months, and we’re going to see 6% to 7% appreciation per year."

In the $500,000 price range, we’re experiencing more of a balanced market, and it’s still a buyer’s market in the $1 million price range.

Prices will most likely continue to rise for the next 12 to 18 months, and we’re going to see 6% to 7% appreciation per year. In fact, in the last 12 months we’ve seen homes appreciate at about 1% per month, so we’re most likely going to see appreciation follow the same trend.

If you have any other questions, want to know what your home is worth, or are looking at buying a home, please don’t hesitate to give us a call. We’d love to help you!

Why Sarah Thinks Jason Daniels & Associates is Exceptional

by Jason Daniels

"I've sold two houses with Jason Daniels. I'll say that Jason and his team are exceptional, and I don't use that word lightly because I've sold two houses with Jason and there's a reason I came back to working with him. Not only did our house sell fast, it sold for the right price, we never had to reduce price, we never had to go up in price. I'd sold houses with other Realtors before so I had an idea of what was supposed to happen but what I was really impressed with, with Jason is that his negotiating skills are excellent and I'd never had any Realtor that I'd worked with before, I'm military, I've moved many times, bought and sold several houses, and no one has ever really taken the initiative to negotiate for things I didn't ask for. I really felt like I walked out with the best deal I possibly could have had. Jason Daniels, you definitely want him on your team!"

 

Why Sandra Recommends Jason Daniels & Associates to her Friends

by Jason Daniels

“We got great results, we found a beautiful house and we’re very pleased with it, been in it several months now. And just very happy with Jason and his team. We worked with a team member, Jonathan, and he was always available and would respond very quickly to text messages or phone messages and I really appreciated that. We would use them again and recommend them to our friends. They’re a great team to work with.”

Four Ways to Avoid Headaches When Buying and Building a New Home

by Jason Daniels

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When buying or building a new home, many things can go wrong. In order to help you avoid a catastrophe when making your move, here are the top four things you need to keep in mind:

1. Make sure you have representation. When you walk in to the builder's model home, the sales agents inside work directly for the builder and their job is to protect the builder's interest, not yours. When you have a Realtor represent you, they can help you negotiate the best deal and the best possible terms, they can help monitor the process, and can help you by serving as an extra set of eyes looking for mistakes in the transaction.

2. Don't over upgrade for the neighborhood you're purchasing in. The sales agents in home improvement stores and model homes are based on bonuses and commissions, so they are not looking out for your best interest. You need to avoid over upgrading for the neighborhood you're in, as you may be unable to make that money back. 

3. Check on the progress. You don't want to get in the way of the contractor or the home builder, but it's nice to know what's going on at the job site. When you work with us, we'll drop by the job site to talk to the buyer about how progress is coming along. You want to make sure you're comfortable with your choices before the process is too far along to change them affordably. 

4. Make a list and submit it to the contractor within 12 months. You need to get this list to the builder in writing before the 12-month period is up because there are some builders in town who will not help you after that first year has passed. 

"We have a lot of experience with newer builds and would love to make the process go as smoothly as possible."

If you have any questions about buying a new property, especially if it's new construction, please don't hesitate to reach out to us. We have a lot of experience in newer builds and would love to make the process go as smoothly as possible! We hope to hear from you soon!

Displaying blog entries 1-10 of 100

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Jason Daniels & Associates
Jason Daniels & Associates at RE/MAX Millennium
9362 Grand Cordera Pkwy Suite 100
Colorado Springs CO 80924
(719) 966-1500
(888) 351-1099