Why some folks are opting to sell their long term rental and buy a vacation property that can generate not only income but also FUN. Ask me about how to locate a fun generating property at your favorite vacation spot.
1633 Remington St, Fort Collins
$425,000
2-1
925 SQFT
Funky cool 1960s brick ranch in a super prime location. Enjoy the quintessential Fort Collins lifestyle via the Remington bike lane for easy access to the best of Downtown, Midtown, world-renowned breweries and excellent city trail systems - or utilize as a rare investment opportunity with walkable proximity to CSU, Canvass Stadium, and the world class CSU trial gardens. Deep alley lot with large, fenced front and backyard. Updated laminate flooring and double pane windows. All appliances convey including washer/dryer and kitchen island-cart. Nice landscaping and garden beds. The lot extends past the back fence for plenty of off street parking and plenty of room to build a garage. LMN zoning may allow an additional dwelling unit so garage apartment may be possible-buyer to verify with City. This home has been loved and well kept by the owners and offered at a price that is rapidly disappearing from Fort Collins.
Should you get a retail mortgage, or a wholesale mortgage? I think you know the answer. Mortgage pricing varies dramatically. Make sure you shop around. For a wholesale mortgage check out my pops:
Bruce Jenkins Excel Financial Group
970-689-2665
brucejenkins@excelfg.com
8101 Wynstone Dr - Open House Sat 4/23/22 & Sun 4/24/22 from 1-3pm. This gorgeous High Pointe Estates ranch style home in Windsor Colorado is on a huge lot with no neighbors directly behind or to the west. Acres of greenbelt surround & wind through the neighborhood giving privacy, expansive views & the ability to step out your door onto the neighborhood trail. Main floor has a large granite island, gas range & two ovens. Vaulted ceilings & huge south facing windows overlook the yard & greenbelt providing excellent southern exposure & a big reduction in heating costs. 3 car garage, low maintenance stucco/stone veneer exterior. 4 bedrooms on the main floor. The large owner's suite has a spacious ensuite bath & walk in closet that connects to the laundry room. Downstairs you have two additional bedrooms for 6 total beds. The rec room provides almost 1,000 sf of living space & a huge wet bar w/mini fridge. There's also plenty of unfinished storage space in the basement. This home is a very short walk to the neighborhood pool, tennis courts, & clubhouse. There's also a skate park in the neighborhood! Call Ryan Jenkins or Scott Lowe of Grey Rock Realty for a private showing.
Keep it simple!
"So, one of my agents comes to me to me the other day and asked me to review a contract that she got on one of her listings and she said, "I don't understand this appraisal provision. Can you read it and see if you can make heads or tales of it?" And I read it and I couldn't understand it either. It was very long and convoluted and I said, "No, I don't understand that. Why don't you go ask the other agent what they meant or what they were intending to accomplish with that provision." So she calls the other agent and ask her, "hey, what are you trying to do here?" and the agent was like, "I don't understand what it means. My managing broker just told me to put it in there." So, we gotta understand the provisions that we're putting into contracts. There's tendency of realtors to write these long convoluted provisions. My litmus test is like a third grade level. It's gotta be super simple. Everybody needs to understand what the provision is trying to accomplish. Don't sign anything you don't understand. Just a thought for you."
The big news this month has been how fast mortgage interest rates have climbed. We are near 5% for a 30 year fixed. Depending on their financing and price point, this has increased the cost of ownership for a typical buyer in NoCo by about $500-$1,000 per month. Obviously this is a huge increase and everyone is bracing for the impact this will have on the housing market. But so far, we have been shocked at how un-noticeable the impact has been. Over the last month, neither myself or anyone on our team of 12 full time realtors, have reported any perceivable change in the market despite having put buyers into homes at these higher rates for weeks now. Our colleagues across the city seem to agree: There seems to be no noticeable effect on the level of competion for each listing, the number of offers each listing receives, or how high folks are paying over the list price. Despite massive increases in the cost of borrowing, it feels like the same wildly competitive market that we’ve grown accustomed to over the last 5 years.
Wasn’t the market supposed to crash when interest rates rose?
Rates are now at 4.5%.
People are paying $625/month more for a $500k mortgage than they were a year ago.
So why aren’t homes taking longer to sell? Why aren’t prices coming down?
More people need homes in America than at any point in our history.
This person sold their home to an ibuyer, in this case Offerpad, for $755,000. It never went on the market.
Offerpad then put it on market a few weeks later and sold it for another $112,000 without putting a dime into it other than a professional cleaning.
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