PMI is usually required on conventional home loans for which the down payment is less than 20 percent. When one thinks of “mortgage insurance” some will think of a type of life insurance that if you die, the mortgage on your house is paid off for the benefit of the survivors. Private Mortgage Insurance, known […]
Why is there such a shortage of homes to buy?, Part 1
According to RE/MAX of Boulder Managing Broker Todd Gullette, 2021 is starting off with a record-low number of homes available to buy. As of January 2021, there are only a total of 334 single family homes showing as available in the IRES Multiple Listing System (MLS) in all of Boulder County. For many home buyers, […]
Investing in real estate using retirement plan funds, Part 1
Anyone can use their retirement plan to invest in real estate you just need to have the proper plan in place. (Photo: Pexels). When most people think of IRAs, SEPs, and 401ks, they usually think of investing in the stock market or mutual funds. However, if you set up a self-directed IRA account (SDIRA), […]
Home appreciation outpacing capital gains exclusion
It is very tough to “outsave” an appreciating real estate market. The 1997 Taxpay Relief Act allowed for a $250,000 capital gains exclusion for a single person and $500,000 for a married couple when a personal residence was sold. The caveat was that the homeowner needed to live in the home for the last two […]
Homebuyers gain purchasing power with higher loan limits
It is very tough to “outsave” an appreciating real estate market. As 2021 begins, today’s homebuyers are frustrated with the scarce inventory of homes to choose from across all price ranges. Shrinking inventory has put upward pressure on home prices across the country. In fact, the Federal Housing Finance Agency (FHFA) determined that the average […]
Round up of the 2020 local housing market: What happened?
The economy here in Colorado and the Front Range were no exception, but we have fared better than many other areas of the country. (Photo: David McBee, Pexels). The global economy was hit very hard in 2020 with the pandemic. The economy here in Colorado and the Front Range were no exception, but we […]
Find out if you qualify for the Senior Homestead Property Tax Exemption
Owner financing is an alternative to a using a mortgage lender or bank. (Photo: Pexels). In 2000, Colorado voters approved a property tax exemption for qualified seniors (also known as the Senior Homestead Exemption) as a state constitutional amendment. The Colorado legislature makes a determination each year to see if the state budget allows […]
A special holiday gift for first-time home buyers
A Colorado First-Time Homebuyer Savings Account (FHSA) is a great way to speed up a homebuyer’s ability to purchase their first home. (Photo: Ben White/Unsplash). If you’re searching for an enduring gift for your loved ones, which will be treasured for a lifetime, during an especially challenging year, you can consider giving up to […]
Fixer Uppers to Live In
Fix-and-flips are all the rage, but have you ever considered a fix-up to live in? (Photo: Pexels). Fix-and-flips are all the rage, but have you ever considered a fix-up to live in? You might be able to find the perfect location an older home that may need more renovation than your budget allows. The answer […]
Being Thankful in 2020
Thanksgiving has passed and 2020 is drawing to a close with less than a month to go. It has been a tough year with the onset of COVID-19 shutting down our typical way of life, but we still have so much to be thankful for. It’s a perfect time to reflect on how fortunate we […]