Based on the date of a real estate closing, property taxes should be fairly divided between the buyer and seller so that each party pays for the taxes during the time in which they own the property. It seems as if these property tax prorations are very simple — just prorate to the day […]
Do I Need a Boundary Survey When I Buy a Home?
There’s nothing like buying a home and finding out on the day you move in your garage is encroaching onto your neighbor’s property! It doesn’t happen very often, but it does happen, especially in older neighborhoods where a previous homeowner put up a garage or shed without a survey or a permit. Typically, when a homebuyer gets […]
Inventory Shortage and How Long It Will Last – Part Two
RE/MAX of Boulder continues to keep the Boulder community and future homebuyers and sellers updated with the latest information regarding the real estate market. RE/MAX of Boulder’s Duane Duggan, with the Boulder Property Network team and host of the RE/MAX of Boulder Podcast, shares his thoughts about current market trends and Colorado’s inventory shortage. Part […]
Rising Interest Rates Decrease Purchasing Power
Interest rates, which have been at record lows since the end of the recession, have risen from an average of 3.86% a year ago to 4.78% today. (Photo: Unsplash). BOULDER – Today’s market is tough on first-time home buyers. Inventory of first-time buyer homes and condos had plunged to a record low, pushing prices higher […]
Home improvement record keeping to reduce your tax bill
When you prepare to sell your personal residence – if you have lived in it for the last two out of five years – there can be a substantial capital gains exclusion. Tax Reform 2018 retained the home sale tax exclusion of $250,000 for single people and $500,000 for married couples filing jointly. This means […]
Removing Private Mortgage Insurance (PMI) from your Mortgage Payment
When you think of “mortgage insurance,” you may 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 as PMI, is not that at all. PMI is insurance to protect the lender in the event the […]
What Not to Do Once Your Mortgage Is Approved
Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, April 13th, 2018 The real estate market in Boulder County is red hot, which makes maintaining your mortgage approval a must if you’re shopping for a home. “It can be a lot of work to get your mortgage approved. Once it is approved, it is important not […]
Part 2 – Purchasing a New Home When You Need to Sell Your Current Home
There are inherent risks when you are selling one house and buying another, and you may have not control. I will outline options of what to do in this situation. Each of the options has pros and cons. Which option you pick depends on equity levels, qualifying ratios, and other considerations’ In my previous article, […]
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