Peeling Paint - everything you need to know and then some

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Imagine this; you have your home under contract, things are going great.  You got the price you wanted, the buyers inspection went well with very little concessions and the appraiser has just visited your home. 

That's when the peeling paint bomb shell drops; any FHA loan requires zero peeling paint regardless of when the home was built.  Many people are aware of the lead based paint disclosure laws that require sellers to disclose any knowledge and/or reports of lead based paint if the home was built prior to 1978.  But as it turns out, you could have a brand new home and an FHA appraisal is going to flag any peeling paint, whether it be inside or outside the home.  They will even flag it on a detached garage. 

The take away is this; outdoor painting is very difficult when the thermometer doesn't go above zero degrees.  If you know there is a chance you might be selling your home, take care of your peeling paint in the summer. 

For more useful tips for selling your home in Kremmling or the surrounding Grand County area please reach out to me today. 

CASE STUDY: Why you might want to considering using the lender that is recommended by your Realtor

Its 2 am and you can't sleep. You are stuck watching late night television and you see a commercial for Quick as a Rocket Home Loans (or some derivative) with some outrageously low rate, screaming low loan closing costs, etc.  You are intrigued.  You have been thinking about buying a home and with a rate that low your buying power just increased by $20,000. 

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STOP. RIGHT. HERE.

Remember, we live in the rural mountains of Colorado, not some cookie-cutter suburban subdivision.  Lenders like Quick as a Rocket Home Loans do not like unusual properties (which would be nearly everything in our area).  So while the rate might be fantastic and the fees low; if you can't buy the home what does it really matter. 

Here's the deal.  Lenders from out of the area typically employ appraisers from out of the area (ie, the big city).  Big city appraisers do not know or understand our rural mountain markets.  Therefore, they have trouble completing their appraisal reports and can crash your dreams of owning a home.   Mountain lenders use mountain appraisers who have access to our local sales and understand the difference between Old Park, Spring Creek and Big Horn Park. 

You might only buy one or two homes in your life time.  I on the other hand am intimately involved with lenders, appraisers, home inspectors and title companies on a daily basis.  I have worked with many lenders and know the good ones from the bad.  Please; help me, help you.  I don't get any kickbacks by sending you to one of my preferred lenders (that is illegal by the way).  The only thing I get is the piece of mind that you are in good hands for obtaining financing for the home of your dreams.  Please reach out to me today for my preferred vendor list. 

Guess how long it takes to sell a house??

According to the National Association of Realtors....

Three weeks.  21 days.

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Just five years ago the median number of days on market was 77 days, or 11 weeks.  We are experiencing a low supply of housing in Kremmling which has pushed home prices up and created situations of multiple offers. 

"The inventory shortage and the growing economy and job creation has increased the interest in homebuying," said Lawrence Yun, chief economist for NAR. "There is just not enough inventory; people need to fight over the few homes available on the market. Historically, roughly 1.2 million new homes hit the market every year, he said, and so far this year, only 800,000 have been built. "It's been below that in prior years, and in the past decade greatly lower than that. Today's shortage is largely explained by a decade of underproduction."

And so you ask; what should I do if I want to buy a house?

1. If you are a buyer it is absolutely critical that you are at least pre-qualified for a loan and if you can get pre-approved that is even better.  Sellers will only consider serious buyers and if you haven't even taken the time to visit with a lender they will move on to another buyer in a heartbeat. 

2.  Be prepared to act FAST!  Gone are the days where you can go home and "talk it over".  I hate this for my buyers because am I a very low pressure Realtor, but it is a fact.  I would rather you know the market conditions we are dealing with than lose a house that is going to work for you.

3.  You might pay over full price.... I know, I don't like it either, but it is a sellers market and they call the shots.  Real estate is a long term investment and chances are you will build equity over time and not be upside-down when you go to sell. 

4.  Make sure you have a trustworthy and experienced Realtor in your court.  Call me today.  I know the Kremmling market and this area.  It would be my pleasure and honor to help you find your next (or first) home in the Kremmling area.  

Kremmling Real Estate 2017 Recap

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Wow, what a year!  The market has been very strong, but frustrating for buyers as inventory is at an all time low.  As of today there are only 5 homes on the market in the Kremmling area.  I remember the days (of not so long ago) when we had 80+ homes on the market in the area.  Because of low inventory, more and more buyers are considering building as an option.  While it is typically an expensive option, buyers are able to get just what they need and want in a home. 

Colorado is in a boom market and as more and more people decide to move here or leave the Denver Metro area, I believe the inventory crunch will continue. 

The great news for sellers is that the market has swayed to your favor and I have never seen a better time to sell.  Appreciation is through the roof and if a home is priced correctly, one can expect multiple offers right off the bat. 

If you are wondering what your home is worth I would love the opportunity to talk with you and show you how I can help you achieve your real estate goals and dreams.  If you are in the market to purchase property I am here to help you find that perfect property.