Luczak Group - The Blog

Information for happenings in the Real Estate Market in the Pikes Peak Region... and some things we just find interesting!

Tips for Home Sellers

Prepping Your Home For Sale

The most impactful mission a seller can accomplish, as they entertain listing their home, is the prep of their home. Proper preparation of a home, inside and out, is vital in order for a home owner to get the most value for their home. The organization, cleanliness, and staging is very important. Once you accomplish the prep work and your home is ready to list maintaining that appearance throughout the showing process is essential. Continue reading ...

Tips for Home Sellers

Housing Market Colo. Springs: Home Sellers Getting More Than Asking Price, Says Study

COLORADO SPRINGS, CO -- Everyone knows Metro Denver and the Front Range have a tight housing market, with demand for homes in the area exceeding the supply. A new study shows that this summer, Colorado Springs had a boost in sales prices with 50 percent of sellers receiving more than asking price. Homelight.com, an online site connecting home sellers with real estate agents, reviewed the last three years' worth of home transactions data to determine some of the country's tightest housing markets. Continue reading ...

Tips for Home Sellers

Hardball Fouls: 6 Home-Selling Negotiation Strategies That Can Backfire

When you're selling your home, you might imagine you hold all the cards. And you do—sort of. But it's easy to become overconfident in a seller's market. If you don't do a reality check, pronto, you could end up sabotaging your sale. So much for that straight flush! Here are six common home seller negotiation tactics that can totally backfire if you don't approach them carefully. Continue reading ...

Tips for Home Sellers

Colorado Springs home prices skyrocket to another record high

By Rich Laden May 2nd 2017 Colorado Springs-area home prices soared to another record high last month as the single-family housing market continued its run of rising values and booming sales. "It's not hot, it's boiling," said veteran real estate agent Harry Salzman of Salzman Real Estate Services and ERA Shields Real Estate. "It's beyond hot." The median price - or mid-point - of homes sold during April climbed to $275,000, up nearly 11 percent from a year ago and breaking the record of $268,000 just set in March, according to a new Pikes Peak Association of Realtors report. Continue reading ...

Tips for Home Sellers

Selling Your House? Better Prepare for the Home Inspection

By Lisa Gordon Mar 14, 2017
 
realestate.com
 
You’ve got a contract on your home for sale—congratulations! But before you pop the cork on the champagne, you’ve got to go through an ordeal that could make or break that sweet deal: a home inspection. The home inspection is a contingency written into most offers, meaning that if the buyers aren’t happy with the result, they can cancel the sale without losing their earnest money deposit, or reopen negotiations and ask for a price reduction.
 
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Tips for Home Sellers

What Rooms Would You Ditch In Your Home?

When it comes to new homes, small is beautiful right now. Ditto for retro designs – village colonials and wrap around front porches come to mind. As they struggle to survive in one of the worst markets in generations, that’s one formula an increasing number of builders have settled on. If you are a fan of the 70s' style modern home, with its collection of sharp angles and broad windows, well it looks like you are out of luck right now. Continue reading ...

Tips for Home Sellers

Creative Types of Transactions and their Definitions

Creative Types of Transactions and their Definitions Subject To. A "subject to" transaction is where the seller simply deeds the property (warranty deed) to the buyer in exchange for cash or the buyer curing a loan that is in default. The note remains in the seller's name, but the buyer owns the property. This type of transaction is risky for the seller because there's no recourse if the buyer does not pay. However, if the seller is in foreclosure, it would be to his benefit to have the loan cured to save his credit. Continue reading ...

Tips for Home Sellers

Owner Financing 101

Owner Financing 101 by Attorney William Bronchick ------------------------------------------------------------------------ There are many benefits for doing an owner-carry installment sale as opposed to conventional financing for both the buyer and seller. Sometimes the advantages inure to the benefit of one or the other, but in most cases the transaction is “Win/Win” for both parties. Benefits for the Seller Most sellers of real property insist on the highest price and all cash. Sellers want a fast closing with little hassle. Sellers also want to pay as little taxes as possible on the gains incurred. In many cases, the seller can have most of his needs satisfied by an installment sale rather than a traditional cash sale. Let’s look at these needs one by one. Continue reading ...

Tips for Home Sellers

There’s No “Due on Sale” Jail – How to Take a Property Subject To An Existing Mortgage

There’s No “Due on Sale” Jail – How to Take a Property Subject To An Existing Mortgage by Attorney William Bronchick The “due-on-sale” clause is probably the most talked about, feared and misunderstood topic in real estate. This article will dispel any misunderstandings you may have about the due-on-sale and suggest a simple, yet effective strategy to get around it. What is the Due-on-Sale Clause? Before we discuss how to get around the due-on-sale, we must understand what it is and where it came from. The due-on-sale (a.k.a “acceleration clause”) is a provision in a mortgage document which gives the lender the right to demand payment of the remaining balance of the loan when the property is sold. It is a contractual right, not a law. This means that if title to the property is transferred, the bank may (or may not), at its option, decide to “call the loan due.” Continue reading ...

Tips for Home Sellers

Homeowners Advice: Things to do before you sell your home

Selling your house cannot be an impulsive decision and you must plan for it. This has to come before you start fixing things up, or choosing dates for open houses. Preparation is the key to obtaining the maximum profits from the sale of your home. Selling strategies for your property must include a thorough and honest examination of why you want to sell. Buying another house elsewhere is the primary motivation behind most home sales. Preparing... Continue reading ...

Tips for Home Sellers

5 Reasons You Still Need A Real Estate Agent

5 reasons you still need a real-estate agent You might think buying or selling on your own will save money, but it could be more costly in the long run. The proliferation of services that help homebuyers and sellers complete their own real-estate transactions is relatively recent, and it may have you wondering whether using a real-estate agent is becoming a relic of a bygone era. While doing the work yourself can save you the significant commissions that many real-estate agents command, for many, flying solo may not be the way to go — and could end up being more costly than a commission in the long run. Buying or selling a home is a major financial and emotional undertaking. Find out why you shouldn't discard the notion of hiring an agent just yet. 1. Better access/more convenience A real-estate agent's full-time job is to act as a liaison between buyers and sellers. This means that he or she will have easy access to all other properties listed by other agents and will know what needs to be done to get a deal together. For example, if you are looking to buy a home, a real-estate agent will track down homes that meet your criteria, get in touch with sellers' agents and make appointments for you to view the homes. If you are buying on your own, you will have to play this telephone tag yourself. This may be especially difficult if you're shopping for homes that are for sale by owner. Continue reading ...

Tips for Home Sellers

A Buyer's Market means BUY!!!

The Colorado Springs Real Estate Market is starting to see some marked improvements since last year. Homes are selling more quickly, and for more money than the beginning of last year. Even though the housing market is improving, we are still firmly entrenched in a buyers market. A buyers market means more available homes and less qualified buyers. This means one thing… qualified buyers should BUY! It’s a buyers market for Pete’s sake.... Continue reading ...

Tips for Home Sellers

7 Reasons Your Home Didn't Sell (and none of them are price)

One of the most frustrating experiences that can happen to home sellers is when they hire a listing agent, an “expert” they trust, and the house they are trying to sell sits on the market for months and months. Eventually the contract you have with your Agent expires and you’re left there with your home... unsold. This scenario is actually more common than you’d expect. It’s an awful experience for the home seller and usually plays out the same way. The seller will be asked numerous times to lower the price, even if it’s the same price the listing agent originally convinced the seller to list at. Price is certainly the most important factor in selling a house; it overrules all other factors. It’s not, however, the only factor. There are several other reasons that your house may not have sold, besides the price. These are the factors we need to examine. I hope this article provides you with some helpful information in going forward with your future plans. If those plans still include selling your house, this pamphlet should provide you with some tips on what you can do to more effectively market your home. Some of these tips aren’t things you, as the home seller, will do directly. In these instances, I hope they will work as things you can look for in an Agent. READ THE REASONS.... Continue reading ...