Summer Tips

Summer Tips – Staying Cool and Planting

One of the home warranty companies we work closely with to provide Buyers and Sellers with “peace of mind” when it comes to repairs or replacement of major systems and appliances if Fidelity National Home Warranty.  They send us helpful tips from time to time that we like to pass along because you’ve told us you like getting this kind of information.

This month, topics include:

  • Using ceiling fans in the counterclockwise direction in the summer
  • Maintaining your air conditioner
  • Smart irrigation
  • Use of creeping perennials
  • Benefits of a home warranty

 stay cool

tips pg2

Housing Outlook Remains Healthy

We continue to look for valuable resources to help people just like you make intelligent, informed decisions.  We found this article that gives a bit of a big picture look at the national real estate market and thought it might be beneficial – especially if you are moving from another area of the U.S. or thinking of leaving Colorado (why?) and heading elsewhere…

If you find this information useful, let us know. If there is a topic of interest you would like to see covered, please tell us….

Report: Housing Outlook Remains Healthy

Cincinnati, Cleveland, and Chicago were singled out as the major housing markets with the healthiest outlooks in the nation, according to the latest reading of the Leading Index of Healthy Housing Markets (LIHHM), a report released by Nationwide that evaluates the healthy housing outlook of the U.S. and 400 metro areas.

Read more: 20 Housing Markets That Are Heating Up

Overall, the national index remains near its peak at a level over the break-even of 100, which suggests the housing market is healthy with little chance of a national housing downturn over the next year. The latest report showed that markets in the upper Midwest and Southeast were performing the best.

“The employment, household, mortgage market, and house price components of the national LIHHM remained positive with the latest available data,” according to the report. “Housing affordability at a national level is neither undervalued nor overvalued with little sign of a national house price bubble.”

The majority of metro areas are healthy, indicating that few regional housing markets are vulnerable to a housing downturn in the near term. However, Texas and Louisiana had the most negative outlook, with 75 percent of the negatively ranked metro areas in the country being in either of the two states. The report notes that Texas metro areas were down primarily because of overheated markets while Louisiana metros were down because of the impact of the sharp drop in oil prices on jobs and income growth.

Source: “Nationwide’s Health of Housing Market Report,” Nationwide.com (June 2015)

Here is a great interactive map – if you click the link – it will take you to the map – and then you are able to hit the “play” button to actually see the map change over time from 2001 to present – it’s really interesting.

Health of Housing Market

http://www.inthenation.com/housing/

The New Closing Disclosure – Coming August 1

The New Closing Disclosure – Coming August 1

We talk to a lot of folks each week with a “do-it-yourself” attitude about selling their home (For Sale By Owner).  The Colorado real estate contract to buy a home is 19 pages long, written by real estate attorneys.  It is legally binding and has a number of legal and financial consequences.  It’s really important to have a highly trained professional help you navigate this document and a number of others to help both Seller and Buyer successfully travel from the initial offer to the closing table.

Another major change that we think makes it even more important than ever before to hire highly qualified team to handle your real estate transaction is the new disclosure requirements that go into effect August 1.  Not only is it important to work with a trained real estate agent who understands these changes, but one who is working with lenders and title companies who do as well.  We are here to answer your questions about these changes.  Below is a snapshot summary of the scope of these changes:

We Help You Get Home (and closed)

We Help You Get Home (and closed)

Ready to buy a home, sell a home or invest in real estate in Colorado?  Give us a call today 720-314-8462.

Time to Inspect: Water Heater

When was the last time you checked your water heater?

We subscribe to a cool service called “Homekeepr” – that sends out reminders to our clients to perform important routine maintenance items around your home.  There are several benefits, including keeping the value of your home at the top end of those in your area, preventing more costly “emergency” repairs due to deferred maintenance, and the hassle and headache of scrambling to find a quality and affordable service company if you do need an emergency repair.  If you would like to sign up for this service, let us know.  We can give you a FREE account.

This month, the featured service is water heaters.  When was the last time you checked yours or had it serviced?

Water Heater Inspection

Due on: July 01, 2015 (And every SIX MONTHS)

Description

It’s time to do some simple maintenance to your hot water heater. Why? Preventative maintenance will result in energy & cost savings, and will extend the life of your water heater.

How? Consider hiring a plumbing company to do semi annual service to all of your water systems, including your hot water heater. Many offer plans that do HVAC and plumbing services as a package deal and can be quite affordable when priced that way.
Generally the things a certified plumber will do to maintain your water heater will include the following:
1) Cleaning out your dirty burner chamber because it can cause a fire and can make burning less efficient.
2) Flushing your tank to rid it of any sediment that may have collected at the bottom and is impeding heating efficiency.
3) Testing the thermostat and pressure release valves to make sure they are operating correctly.
For more great home maintenance tips like these, check out our website: JonesTeamColorado.com or let us know if you would like your own Homekeepr account.  You can reach us at: Tim@JonesTeamColorado.com or Sandy@JonesTeamColorado.com

Buckle Up – New Government Mortgage Guidelines Will Cause Delays

Buckle Up – New Government Mortgage Guidelines Will Cause Delays

We’ve all heard some version of the following regarding proper planning….

Propoer Prior Planning Prevents (___) Poor Performance

Propoer Prior Planning Prevents (___) Poor Performance

So what does this have to do with your next home, your next home loan or real estate in general?  Glad you asked! There are new regulations that affect the banking and mortgage loan industry going into effect August 1, 2015.  The authors and enforcers of these new guidelines might tell you that they are to serve the public interest and protect you. (Remember the old line about FEMA: “We’re from the government, we’re here to help?”).

Sandy and I have resources available including title companies and mortgage loan originators who can help answer your questions about these new guidelines.  Our goal with this blog post is to give you a head’s up.  If you choose to work with Jones Team Colorado, we work hard to adhere to all dates and deadlines of your real estate transaction so that we get you to the closing table as smoothly as possible with the least hassle.

We thought this sign from one of our lenders helped summarize the essence of these changes.  Again, please let us know if you want more information, have specific questions or would like us to help you buy or sell your next home!

TILA-RESPA Integrated Disclosure Rule

New Changes Coming August 1 2015

Water, Water Everywhere….

Water, Water, Everywhere.

 

With the heavy Spring rains the last couple of weeks in Colorado, you may feel as if we will never run out of water.  But water is a precious commodity in our state, and it’s a good idea to ask a lot of questions and work with a Certified Mountain Area Specialist (like Sandra Jones at Jones Team Colorado) who understands and is able to explain wells and Colorado water (for all legal water rights matters, you should consult an attorney who specializes in this field).

 

We thought the following article might be helpful and provide some great insights into this valuable resource here in Colorado:

 

Water Law in Real Estate Transactions in Colorado Part One: Understanding Water Rights

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Basics of Water Law
Two different legal doctrines govern how we use water in the United States. The choice between these doctrines rests primarily on the climate and needs of the people where the water is going to be used. In wetter humid areas, such as the East Coast and parts of the Midwest, there is less concern for reduction in the overall flow of a river. The Riparian Doctrine governs in those parts. Under the riparian law, owners of land bordering rivers and streams have a water right to use that river or stream.

In Colorado, however, just because one owns land next to a stream does not by itself mean they have a right to use water from that stream. Water law in Colorado evolved during the mid-1800’s when the area was a territory. Pioneers of Colorado’s arid climate needed water to mine gold and silver and to irrigate crops miles away from the rivers and streams. Colorado’s growth depended on people’s ability to reliably divert the waters of the streams from their natural channels and carry them across the arid landscape to their places of use. An allocation system based on the principle of “first in time, first in right” evolved out of this need into a framework of water law known as the Prior Appropriation or Priority Doctrine, sometimes called the Colorado Doctrine.

Prior Appropriation
The Prior Appropriation Doctrine serves as a basis for a substantial portion of Colorado water law today. It regulates the use of surface water in the rivers and streams, and alluvial or tributary groundwater, which is groundwater that is hydrologically connected to a river basin. The Priority Doctrine states that the first person to divert water and apply it to a beneficial use has a prior or senior right to the water over any other user who seeks to use water at a later time. The Priority Doctrine in Colorado provides a legal framework by which water users obtain a court decree to protect their senior water rights against all other junior water rights. This process, called Adjudication, secures the amount and priority date of a water right (i.e. date water was first used) against other water users’ junior rights and provides for administration of the court’s decree by state water officials.

Two other water allocation systems also exist in Colorado. Deep groundwater confined in aquifers such that it has not measurable connection to the surface stream is not regulated by the Prior Appropriation. Depending on location, these confined aquifers are referred to either as Designated Groundwater or Nontributary Groundwater. Pumping water from these aquifers is managed not by court decree, but through permitting and administration by various state officials.

Colorado’s Regulatory Framework
There are seven water divisions within Colorado, based on the major watersheds of the state. There is a separate Water Court for each division. While a decree from a water court confirms a water right, it does not create one – water rights are established by diverting and applying water to a beneficial use. In Colorado, water courts have jurisdiction over all water right decree applications in surface water and tributary groundwater rights, amongst other things. Water courts set the priority date for water rights decrees based on the year in which the application is filed and within the year in which the application is filed and within that year, when the water use first began.

Additionally, by law, every well owner in Colorado that diverts ground water must have a well permit issued from the Colorado Division of Water Resources, also known as the Office of the State Engineer. There are many different types of well permits, depending on the area of the state one is pumping in and quantity and type of use for that well. Certain wells, such as household use, and domestic and livestock wells on parcels less than 35 acres, are exempt from and are not regulated under the priority system, even if they are pumping tributary groundwater. Other wells, such as commercial irrigation, and municipal and subdivision wells, are non-exempt and are regulated within the priority system. Water pumped from Designated Ground Water Basins, located in the Front Range and in Eastern Colorado, requires a special permit from the Colorado Ground Water Commission. These types of permits are not regulated by the priority system.

Lastly, it is important to note that many water rights in Colorado are held by Mutual Ditch Companies. Mutual Ditch Companies are private non-profit associations organized to develop, maintain, and deliver irrigation water to shareholders via elaborate networks of pipes, ditches, reservoirs, flumes, etc. Mutual Ditch Companies are similar to other privately held corporations in that they have articles of incorporation, by-laws, and are governed by a board of directors. Ownership in a Mutual Ditch Company is evidenced by individual stock certificates, which entitle a shareholder to her prorated share of the Mutual Ditch Companies’ water right for use on that shareholder’s land.

Colorado regards water rights as real property and protects them against all other water users along a stream with a junior priority date. Additionally, there are different types of water rights in Colorado, and the regulations that apply for each will vary depending the type and location of the particular water right. For example, a well pumping groundwater in the Denver metro area is regulated differently than a ditch irrigating property in Boulder County. If you are involved in a real estate transaction with a water right, knowing the type of water right at issue is the first step to understanding what will be required for its conveyance. Part two of this bulletin will discuss conveyancing issues that arise with water rights and how to mitigate them.

Disclaimer: This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal or accounting advice or other expert assistance is required, the services of a competent professional should be sought.
© Copyright, 2015, by Land Title Guarantee Company

 

If you have questions about water – give us a call or text  at 720-314-8462 or email us: Tim@JonesTeamColorado.com | Sandy@JonesTeamColorado.com

Average Sold Price Tops $400,000 – April 2015 in Denver

Average Sold Price Tops $400,000 – April 2015 in Denver

Here’s a very quick snapshot from our Land Title Market report for April in the 7 county Denver Metro.  Average home prices reached $403,879! And Days on Market dropped to just 23.1 – folks your friendly neighborhood Realtor desperately needs homes to sell.

April 2015 DSF

If you would like a copy of the FULL Report, give me a call or send me a text at 720-314-8462 or e-mail me us: Tim@JonesTeamColorado.com or Sandy@JonesTeamColorado.com

Thanks!

3 tips to sell homes faster — and for a higher price

Clint offers some interesting advice.  Typically we talk to Sellers in terms of adding value by remodeling kitchens, bathrooms – the key rooms in a home that give you the biggest bang for the buck.  But I saw this article and wanted to share his perspective on tech and green homes.  Recently, some lenders have started offering special programs for green homes or for high “walkability” scores (close to mass transit, shopping and other amenities) – so there IS some real value in creating a a green home these days BEYOND tax savings and the amortized energy cost savings.  We hope this type of information is helpful as you

(From Inman News)

3 tips to sell homes faster — and for a higher price

Advertise home technology and savings to increase the value of the home

Like many other industries, real estate is driven by the cardinal rule of the market: Buy low, sell high. We all know this. And lately there are a couple of ways to give your sales an edge that stands out.

The first method involves advertising the smart features of your property, which clearly requires that properties are equipped with smart tech in the first place. If any of your properties aren’t smart tech-equipped, then upgrades to some of the features will most likely help it sell faster and for a higher profit.

The second method is to advertise the kind of savings buyers can expect if they purchase your home. You want to include facts and statistics on your furnace efficiency ratings, MERV ratings, low-flow faucets and even energy-efficient appliances. Presenting these two ideas to your potential customers will help sell your properties.

1. Upgrade the home’s technology.

Research suggests that homes sell more quickly when they are equipped with the right technology that homebuyers seek. Many buyers are looking for the newest gadgets so that they won’t have to pay to have them installed later. They prefer that their new homes come equipped with the technology that they see in other new homes right now. One online survey that polled 513 real estate agents from Coldwell Banker provides a fascinating take on the role of technology in the homebuying process.

According to that survey, approximately two-thirds of the respondents said homebuyers are more interested in homes featuring smart features and tech than they were two to five years ago. One in 3 agents polled said smart homes sell faster.

When someone uses the idea of smart technology in a home, they are usually focusing on a few key elements. Smart-home shoppers are looking for automated thermostats for temperature control. They want to know that their home’s climate will be regulated automatically for the most efficient settings. Most shoppers are also looking for automatic smoke alarms. Smart alarms keep their families safe and are easier to maintain.

2. Assess real value versus perceived value.

Do these new gadgets actually make a home worth more money on the market?

They do. But this is only because buyers are willing to pay more for a home that has these smart features. In actual monetary terms, these items offer marginal upgrades in the price of a home. But people are buying more than the gadgets.

When they buy an upgraded home, they are buying a modern, convenient and safe home. They are buying the labor that went into the upgrades, and they are thinking of the big picture. For many buyers, thinking about the big picture helps them see value beyond the actual retail prices.

3. Advertise the energy savings to homebuyers.

Another way to increase the speed and profit of home sales is to advertise the savings a buyer would enjoy. A furnace with high MERV ratings keeps more dust and other particles from polluting the air inside a home. And this saves money because your buyers wouldn’t have to spend money on other air purifiers. People with allergies and asthma will appreciate upgrades such as these. They’ll know they can move into the home, breathe clean air and save money all at the same time.

Furnaces also come with AFUE ratings that certify their fuel efficiency. Good AFUE ratings reduce costs on energy and heating, which is especially beneficial in the winter when the temperatures dip below freezing across most of the country. So, if you’re selling a home equipped with a furnace with a good AFUE rating, you’ll want to make sure to advertise that.

Homes with solar panels also warrant some extra advertising. It can cost tens of thousands of dollars to have solar panels professionally installed, and the energy savings add up quickly for homeowners. Although a home equipped with solar panels should sell quickly, you’ll still want to market the home with the right enthusiasm and the right approach to make sure you get your asking price.

Many homes have more value than average homebuyers realize. You just have to be upfront and confident about the strengths of the home. Modern homes with automated thermostats, smoke alarms, energy-efficient appliances, solar panels and other gadgets will surely command much higher prices from interested buyers than those that are less connected to the Internet of things.

We all understand that properties that have been invested in sell faster — and for higher prices. These days smart tech controls are the most attractive and simple investments to make in a property and so are energy-efficient appliances.

Clint Stevens has worked in construction for over 20 years. He is now pursuing his passion of writing and putting his experience to good use in order to benefit others. He enjoys fishing, remodeling his home, and tinkering with his home automation gadgets.

Keller Williams Real Estate is offering career Opportunities!

Keller Williams Real Estate is offering career Opportunities!

Ready for a change?  Stuck in a job you just don’t love?  Just finished school…now what?  Sounds like you should give us a call.  The real estate market is exploding, especially here in Colorado.  Now is a great time to join Keller Williams Real Estate.

Here’s what we believe about us, and about your career:

  • Our mission is to build careers worth having, businesses worth owning and lives worth living.
  • Our vision is to be the Company of choice for a new generation of real estate agents and owners.
  • Our beliefs are an essential part of who we are and how we conduct business.

This belief system is the foundation for providing the ultimate in service for our clients.
This is one of the many reasons that more and more realtors are joining the KW team!

WI4C2TS

Our Belief System In Action…

 Win-Win
Or no deal
 Integrity
Do the right thing
 Commitment
In all things
 Communication
Seek first to understand
 Creativity
Ideas before results
 Customers
Always come first
 Teamwork
Together Everyone AchievesMore
 Trust
Starts with honesty
 Success
Results through people

Find out how Keller Williams® Realty
can help you build a career worth having.

Refer this to a friend if this doesn’t describe you.

We are looking for admin professionals, real estate buyers agents, real estate listing agents, real estate showing assistants, real estate transaction coordinators.

Keller Williams allows you the freedom, framework and support to build your own team, expand into other cities, participant in the industry’s only true profit share program, experience world class, award-winning training and so much more.

Schedule an appointment today:

Learn more about Keller Williams at our careers page:

Keller Williams Careers

Benefits of Working with a REALTOR

Benefits of Working with a REALTOR

There’s an interesting phenomenon when it comes to making the single largest transaction in a person’s lifetime – buying or selling a home – most people just don’t understand the difference between a licensed real estate agent and a REALTOR.  Beyond a higher professional/ethical standard and level of education, based on a recent study by the Daniels College of Business at University of Denver, there is evidence of huge financial differences – that can translate to dollars in your pocket as a buyer or seller.  Hopefully this information will help more people research something more important than which dog food to buy or which type of bottled water to get at Whole Foods.

Benefits of Choosing a REALTOR

Benefits of Choosing a REALTOR

  • REALTORS are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.
  • REALTORS are members of the National Association of REALTORS, which means they have adccess to a wide range of classes, seminars, and certification opportunities.
  • REALTORS are part of local REALTOR associations that are active in community service, economic development, local politics, and other neighborhood associations.
  • REALTORS, through participation in their associations, have numerous opportunities to interact with other REALTORS, which means they have more chances to market properties, make connections, and build their local expertise.

Want the Proof?
A recent study conducted by the University of Denver Daniels College of Business that compared Denver-area REALTORS versus Licensees found:

  • 98% of top producers are REALTORS
  • REALTORS average twice the sides
  • REALTORS average twice the annual transactions
  • REALTORS average three times the annual dollar volume
  • REALTORS exclusively serve most higher-priced communities
  • REALTORS average higher closing prices

In an effort to provide our valued clients with the greatest diversity, Sandy is a member of MMAR (Mountain Metro Association of Realtors) and Tim is a member of SMDRA (South Metro Denver Realtor Association).  When choosing a licensed Colorado Broker Associate to represent you in a real estate transaction – find out if they are a REALTOR.  Price is ONLY an issue in the ABSENCE of VALUE.

“Is Your Home Certified Pre-Owned Ready?” Find out – give us a call today – 720-314-8462 and ask about our new Certified Pre-Owned Home Program