Archive for October, 2009
Top 10 Reasons to Buy Investment Properties in Littleton
TOP TEN ADVANTAGES TO PURCHASING INVESTMENT REAL ESTATE
1. This is a tangible asset. It is something you can feel, touch and see. You can drive by it every day if you want!
2. This is a unique asset. As the old saying goes, they don’t make land anymore. Your real estate investment is one of a kind!
3. Passive Loss Rules. Your real estate investment can create a passive loss, even when you are making a positive cash flow. Think of it as a paper loss, which can offset ordinary income and lower your taxes!
4. Your investment may appreciate over time. In one study of recorded real estate history, real estate had gone up on average 5.5% a year for the last 100 years!
5. Your investment may provide a monthly cash flow. Many investments will provide a monthly income that you can use to fund more investments!
6. Your investment can grow equity. Every payment you make on a mortgage decreases your principal balance, which means when you sell you will be getting that money back in equity!
7. Your investments when sold may be tax deferred. If you follow 1031 exchange rules, you can roll your gain into a new investment and defer your tax!
8. Your investment may become tax-free! How? Imagine that you own a rental for several years and then move into the home yourself. As long as you meet the new IRS guidelines for a principal residence, when you sell this home you may be able to have a tax-free gain. See www.IRS.gov
9. The Power of Leverage is a huge advantage with real estate. By using a relatively small portion of cash you can readily acquire all kinds of investment real estate with leverage-bank or owner financing. This can multiple your return dramatically!
10. You may find a bargain! Bargain real estate, like this duplex, is all around us if we just begin to look! A great new source of REO bank foreclosure real estate is www.ebay.com and www.goldenfeather.com.
Call me for details on your individual circumstances, at 303-888-2488, or comment on this article.
Top 15 things to think about when Buying a New Home in Highlands Ranch
Before you make the decision to sign a contract on a new home built in Denver, here are some items to reconsider. Keep in mind the builders contract is completely one sided, and all in the favor of the builder. But you can miniinimze the stress by looking over these items.
1. What is the specific deadline for completion?
2. No meaningful default remedy when the (builder) sellers default.
3. Do not believe anything an onsite sales person states.
4. Non-Refundable deposits – Earnest Money, compared to Upgrade Deposits
5. When does “VP in Charge” sign the contract?
6. Loan contingency & detail for a specific, also unconditional loan commitment.
7. Closing based on a temporary CO verses a Full CO. The Builder has their idea of completion vs. your idea of completion
8.There is usually a lack of escrow for post closing significant obligations.
9. Soils Report vs. synopsis
10. Lack of a title review, delivery date and quality (i.e. owners extended coverage)
11. Home Warranty Program, who is covered, and by whom?
12. Can you do an inspection prior to walk-through
13. Earnest Money – where is it held & by whom, commingled or non segregated
14. Contiguous area report. Do you get one?
15. Call me first before visiting a new home community, as I can represent your interests.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
You can view these items on my website.
Do I need help with a Short Sale of my home in Highlands Ranch?
In todays financial real estate market in Highlands Ranch, if you purchased in the last 3 years, or just recently refinanced, and you have a loan that has a balance above the current market value, there may be solutions for you. When you go to sell your home, and there is no equity, after expenses, and you want to move on with your life, but don’t have the money to pay the deficit.
This is where a short sale comes into play.
The key thing to remember is that this will take time, several months, and it won’t be completed within our normal 30 day closings; which the customary timeframe in the Denver real estate market.
Keeping the lender, or lenders informed is critical. There will be lots of paperwork, and lots of followup phone calls. Fortunately most of the numbers to your lenders are 800 numbers.
- You will need to prepare a hardship letter as to why you cannot pay the full balance
- You will need to fill out financial forms, to show you have no money
- You will need to fill out authorization forms for your “people” to contact the lenders
- You will need to show several months of bank statements, to show limited money
- You will need a listing contract to prove you tried to sell at market value
- You will need the accepted real estate contract to show the price the buyer will pay
- You will need Title company information, as they will forward the money
- You will need a prepared preliminary HUD
- You will need to provide anything else the lender needs
- If there is a different Junior lienholder, you will need to provide 1-8 above, yes, again
- You will need an experienced real estate agent to guide you through more conract verbage
We have advised and consulted with many homeowners like yourselves, and our office is located in Highlands Ranch to set up a meeting.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Remodeled 4700 square feet home with 2600 square feet of Outdoor Entertaining
For those looking for a superior location: not on a busy road, does not back to other homes, hss a private location that backs to the 17th green of Columbine Country club, has over 2600 square feet of outdoor entertaining, and is totally remodeled, then see 1 Driver Lane. Brand new Cherry wood Kitchen, slab granite, gourmet 60″ Viking Stove, Bosch appliances, Sub Zero refrigerator, remodeled master bathroom, finished attic storage, 3 plus car garage, 4 bedrooms, 5 bathrooms, high vaulted ceilings, outdoor kitchen, 4 covered patios, and on and on. See the virtual tour at: 1 Driver Lane
I always welcome comments and responses. You can always call me directly at 303-888-2488.
First Time home buyers can take advantage of the $8000 tax credit by buying 351 S. Xanadu
Our listing at 351 S. Xanadu, near the renovated Town Center at Aurora Mall, priced at $169,500, with 5 bedrooms, and over 1800 square feet finished. Think of the tax savings compared to rent, when you buy this home. Government tax credit, and monthly tax savings. This is the American Dream.
See our virtual tour at: 351 S. Xanadu St.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
What are the Best Hardwood Floors for Highlands Ranch Homeowners
Nothing rivals good wood floors in a home in Highlands Ranch or in Centennial. But what type should you put down. Things to think about are:
- Thickness
- Length
- Width
- Hardness
- Engineered Wood
- Cork
- Laminate
- Color of Stain
- Finish: Oil based or water based
Then there are the types of wood, based on Hardness. From Soft to Hard the tree follows this line:
Soft
- White Pine
- Black cherry
- Black Walnut
- Heart Pine
- Yellow Birch
- Red Oak
- Beech
- White Ash
- White Oak
- Australian Cypress
- Maple
- Hickory
- Brazilian Koa
- Acacia
- Tamarind
- Brazilian Redwood
- Brazilian Chestnut being the Hardest of the woods
By far the most classic is Stained Red oak.
Then you need to decide where to install: Kitchens, Entryways, Bedrooms, Offices, Bathrooms, or in Basements. Also consider what the floors will be going over, plywood, existing wood floors, concrete slabs, or radiant floors. Give me a call, and I can always give the realtors point of view to maximize your investment.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
H1N1 and how it affects real estate in Highlands Ranch and Littleton
Dr. Vinay Goyal is an MBBS,DRM,DNB (Intensivist and Thyroid specialist) having clinical experience of over 20 years. He has worked in institutions like Hinduja Hospital, Bombay Hospital, Saifee Hospital, Tata Memorial etc.
Presently, he is heading our Nuclear Medicine Department and Thyroid clinic at Riddhivinayak Cardiac and Critical Centre, Malad (W).
The following message given by him, I feel makes a lot of sense and is important for all of you to know.
The only portals of entry are the nostrils and mouth/throat. In a global epidemic of this nature, it’s almost impossible not coming into contact with H1N1 in spite of all precautions. Contact with H1N1 is not so much of a problem as proliferation is.
While you are still healthy and not showing any symptoms of H1N1 infection, in order to prevent proliferation, aggravation of symptoms and development of secondary infections, some very simple steps, not fully highlighted in most official communications, can be practiced (instead of focusing on how to stock N95 or Tamiflu):
1. Frequent hand-washing (well highlighted in all official communications).
2. “Hands-off-the-face” approach. Resist all temptations to touch any part of face (unless you want to eat, bathe or slap).
3. Gargle twice a day with warm salt water (use Listerine if you don’t trust salt). H1N1 takes 2-3 days after initial infection in the throat/nasal cavity to proliferate and show characteristic symptoms. Simple gargling prevents proliferation. In a way, gargling with salt water has the same effect on a healthy individual that Tamiflu has on an infected one. Don’t underestimate this simple, inexpensive and powerful preventative method.
4. Similar to #3 above, clean your nostrils at least once every day with warm salt water. Not everybody may be good at Jala Neti or Sutra Neti (very good Yoga asanas to clean nasal cavities), but blowing the nose hard once a day and swabbing both nostrils with cotton buds dipped in warm salt water is very effective in bringing down viral population.
5.Boost your natural immunity with foods that are rich in Vitamin C (Amla and other citrus fruits). If you have to supplement with Vitamin C tablets, make sure that it also has Zinc to boost absorption.
6. Drink as much of warm liquids as you can. Drinking warm liquids has the same effect as gargling, but in the reverse direction. They wash off proliferating viruses from the throat into the stomach where they cannot survive, proliferate or do any harm.
Hope these quick tidbits help for what is on the minds of most people in Colorado and the country.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
