Dear Friends: February may be the shortest month of the year, but in these 28 days there’s a lot going on. From the Winter Olympics to Valentine’s Day, the Colorado Garden & Home Show and Denver Restaurant Week, there’s plenty to keep you busy.
Joey Cranford Broker Associate Direct: 303-268-0631 www.JoeyCranford.com Team@CranfordTeam.com
Speaking of keeping busy, those of us in the real estate industry are gearing up for the return of another busy spring season. If you’re giving thought to jumping into the market, give yourself plenty of time to prepare. With that in mind, my newsletter for February offers a variety of preparatory suggestions for both buyers and sellers. As always, if you have questions, don’t hesitate to give me a call.
HAPPY VALENTINE’S DAY!
The Front Range Realty Report NewsBriefs
Presented by The Cranford Team at RE/MAX PROFESSIONALS If your home is currently listed for sale, this is not intended as a solicitation.
FEBRUARY 2014
Quickly and economically increase your home’s value Colorado’s Front Range real estate market has dramatically improved in the past year, and I’m anticipating even further improvements in 2014. This is great news for sellers who have seen their home’s resale value steadily improve. Let’s look at some simple tasks a soon-to-be seller can work on during the winter months that will help increase the home’s value even more. Start with an unbiased opinion. Consider hiring an interior designer for an hour of their time. Take notes as the designer walks through your home, and ask them to make color suggestions for your walls. As a local real estate expert, I would also be happy to meet with you, inspect your home and discuss any areas I feel should be addressed. Neutralize and freshen the walls. Clean walls in neutral colors will make a huge difference. White is seen as cold and sterile, but colors in the sand family or a soft gray are considered “neutrals” which are best. If you think color helps set off a room, confine it to one wall. Small issues can be big turnoffs. Worn carpets, dirty grout and clutter send a message that the house hasn’t been very well
maintained. It’s the same with leaky faucets, broken screens and dirt-smudged light switches. Most of these small maintenance items are easy and economical to fix. Depersonalize and declutter. Walk through a model home and you’ll notice two things: a lack of photos of people, and very little in the way of “nicknacks” sitting about. That’s because knick-nacks distract from the room, and photos of strangers makes it hard to envision living there. Know when to quit. How do you know when to quit fixing and upgrading? The answer depends on your home and the neighborhood. For example, most young families will be more interested in the yard than in an elaborate master bathroom. So ask yourself: “What kind of buyer does your home appeal to most?” This is an area where my real estate expertise can come in handy, as we can discuss area homes and how they compare to yours, to help keep you from over-improving. Don’t hesitate to call me to set up a no-cost, no-obligation discussion on your home, our local market, and how you can get the most value out of your home in 2014.
M Effective last month, the federal government’s “Ability to Repay” rule went into effect. It is designed to deter what the government calls “risky features,” and reign in loose mortgage lending standards that officials blame for contributing to the recent recession. With the new law, lenders must consider and document eight specific criteria. What this means to borrowers is more documentation in certain areas. If you’d like to discuss this or any other aspect of buying or selling a home, just give me a call. M The Colorado Department of Housing reported recently that new foreclosure filings were down 46.1 percent in Colorado during the first nine months of 2013 compared to the first nine months of 2012. M Up and down the Front Range, vacancy rates are falling and rents are rising. Last September’s floods have put particular pressure on the rental markets of Boulder, Larimer and Weld Counties, with vacancies sometimes below 3%. M Single-family and multifamily combined building permits for the first 10 months of 2013 were up 25% over the same period of 2012. M The national median existinghome price for all housing types was $196,300 in November, up 9.4 percent from November 2012. For answers to all of your Colorado real estate questions, give me a call.
COLORADO CORNER Colorado’s History Comes to Life at History Colorado Center With last April’s grand opening eral store. Collect chicken eggs. of its new facility at 12th and Visit a home--and much more! Broadway, the History Colorado Center has totally reinvented • “Colorado Stories” lets you itself from head to descend into a siltoe. Filled with ver mine, take a high-tech, handsvirtual ski jump, on exhibits, this trade goods at museum is enterBent’s Fort, distaining, educacover Lincoln tional, economical Hills--the only and just plain fun. vacation resort Best of all--it’s all Experience a virtual ski jump at west of the History Colorado in Denver. things Colorado! Mississippi River owned by and The second of three exhibition catering to African-Americans, phases opened last November learn about the resilience of to rave reviews. Entitled “Living Colorado’s Indian tribes, and West,” this new 7,000-squarewitness the heartbreaking story foot exhibit explores the relation- of Colorado’s WWII Japanese ships between Colorado’s peoInternment Camp. (Be sure to ple and the land through three visit the typical camp hut). stories: Mesa Verde, the Dust Bowl, and today’s Rocky • “Denver A to Z” is a fun and Mountains. The stories are tied light-hearted exhibit on the spirit together with a common theme of this vibrant city. of water. (Be sure to visit the farmhouse where you can see Start your visit using one of the and feel what it was like to H.G.Wells-inspired time experience a dust storm.) machines in the great hall, and finish with a snack or a meal at Other current exhibits include: the on-site restaurant. • “Destination Colorado,” introducing visitors to life in the dryFor details on History Colorado, land farming town of Keota, visit: www.historycolorado.org/ Colorado in the 1920s. Ride in a Or call Model T. Roam through a gen303-HISTORY (447-8679).
Call or email to ask for this month’s FREE REPORT:
Incredibly Simple Steps to Protect Your Personal Data The bad guys are getting sneakier and more sophisticated when it comes to stealing your personal information. But there’s a lot you can do to protect yourself. This month’s Report will show you: • A quick, no-cost way to find out if your identity has been stolen, or if you are at high risk for identity theft • Ways to keep your information secure online an offline • Tips for beefing up security for your devices • What kids need to know about social media security • The most common ID theft schemes . . . and much more!
Just ask for your free copy.
An Ounce of Prevention: Simple Ways to Protect Your Identification The massive theft of data from Target stores of nearly 40 million credit and debit cards last December is just one recent example of how sophisticated identification theft is becoming. Unfortunately, the Colorado Bureau of Investigation reports that identity theft is one of today’s fastest growing crimes. It can destroy your credit capabilities, derailing the purchase of a home, a new car, or any purchase that requires a credit check. If identity thieves have your personal information, they can drain your bank account, run up charges on your credit cards, open new utility accounts, and get medical treatment using your health insurance. In short, your life can be turned upside down. In addition, repairing your credit will cost money out of your pocket, not to mention the hours of frustrating communication with financial institutions and credit agencies nationwide. Due to the limitation of space in this newsletter this article covers a few basic security steps we can all take. However, for more comprehensive information, be sure and request the February Homeowner’s Report entitled “Incredibly Simple Steps to Protect Your Personal Data.” See the box to the left of this column for details. As the old saying goes: “An ounce of prevention is worth a pound of cure,” so here are some of the best (and easiest) ways you can help protect your identity from being stolen, and your life from becoming a nightmare.
• What’s in your wallet? If you don’t need your Social Security or insurance card, leave them at home. The same goes for your checkbook and for the numerous credit cards most of us carry daily. • Purchase a crosscut paper shredder and shred bank statements, credit card statements, credit card offers, and other personal information before tossing them in the trash. • Create a list of the emergency phone numbers for all your cards and keep that list separate from your wallet. If your wallet is ever stolen, you’ve got the numbers to call and quickly cancel the cards. • Never provide personal information via e-mail because it’s easy for hackers to capture that info as it floats around the Internet. If you use the Internet for something that requires personal data, make sure the site is secure. A secure site will start with “https.” Notice the “s” at the end. • Beware of free or open Wi-Fi connections. (The Report goes into this topic in greater detail, offering multiple tips to protect your data while you’re online away from home.) • Verify the accuracy of your credit report by obtaining a free copy at: www.annualcreditreport.com.
This is the only website where you can obtain a copy of your report, from all three major credit reporting bureaus, with no cost or obligation.
Green Ideas for the Colorado Homeowner WINTER OLYMPIC FUN FACTS Combat wintertime indoor air pollution with these easy steps Studies conducted by the Environmental Protection Agency have shown that levels of air pollutants indoors can be 100 times greater than outdoors. With more time spent indoors these days, here are some simple suggestions to make your home a healthier place to be.
• Keep ventilating fans clean. • Use safe cleaning products without the signal words: danger, warning or caution. • Frequently vacuum carpets and upholstery, wash linens weekly, and dust regularly to keep "dust mites" to a minimum. Dust mites are microscopic bugs that live in dust and our sloughed-off skin.
• Get fresh air circulating as often as possible by opening windows and doors, even for just a few minutes. • Shoes track in pesticides and other contaminates, so wipe them off, or better yet, take them off when entering the house. • Replace or clean furnace and air filters at least every two months. Use a "high efficiency particulate filter" (HEPA). • Use ventilating fans over the stove and in the bathrooms, and be sure they are vented to the outside of the house. • If you must smoke, don't do it indoors.
Though many chemicals released from carpet, furniture, fabrics, and cleaning agents are harmful to human health, some plants thrive on them and can remove their harmful vapors from the air. Plants that top the clean-air list include Peace Lily, Bamboo Palm, Aloe vera, English Ivy, Spider plants, Gerbera daisies and mums, all of which are easy to find and easy to care for. As a matter of fact, plants can remove 90% of chemicals in the air within only 24 hours. The recommendation is one 10-12 inch plant per 100 square feet of interior space.
What home buyers needs to know before the search begins If buying a home is in your future, here are five tips will help make it a more rewarding experience: 1. The market has changed, but one old rule still applies: The higher your credit score, the lower your down payment and monthly payments. For example, a score of 700 to 720 will get you a good deal, but 750 and above will garner the best rates on the market. So check your credit report to avoid being unfairly penalized for debts that are settled, or not even yours. 2. Knowing what you can afford before
As you’re enjoying the Winter Olympics this month (February 4-23), amaze your friends and family with these tid-bits of Winter Olympic Fun Facts: The first Winter Olympic Games were held in Chamonix, France in 1924, where 294 athletes from 16 countries competed. At the 2014 Winter Olympics, approximately 2,800 athletes are expected to participate from 86 nations. Up until 1994 the Olympics were held every four years. Since then, the Winter and Summer games have alternated every two years. For the 2014 Olympics the total number of torchbearers should be about 14,000 people, and the Olympic flame will travel nearly 25,000 miles: the longest distance in Olympic history. The five interlocking ring
design of the logo, created in 1912, symbolizes the five continents of the world (Africa, Asia, Australia, Europe, and the Americas) "linked together in friendship." The colors represent flag colors of participating countries at the time of the original design. 2014 is the first time Russia has hosted the Winter Olympics. (They did host the 1980 Summer Olympic Games in Moscow.) The 2014 Sochi Olympics are estimated to be the costliest ever, at $51 billion. Compared with the previous Olympic Games, held in Vancouver, Canada, the 2014 number of disciplines will increase by twelve, bringing the number up to 98 sets of medals.
This month the world celebrates the XXII Olympic Winter Games in Sochi, Russia. But did you know that Denver had been awarded the 1976 Winter Olympics? However, in 1972, Colorado voters rejected the honor because of high costs and environmental impact concerns. Innsbruck, Austria hosted instead.
looking at houses will save you precious time that can be spent focused on more appropriate properties. However, getting preapproved for a loan is even better because any purchase offer you make will carry more weight with the sellers.
may be willing to assist and pay a portion of the closing costs, or that you may qualify for some level of down payment assistance. This is certainly an area where a real estate professional can be helpful with their local market knowledge and negotiation skills.
3. Build up a nest egg that is over and above the downpayment. Lenders will want to see that you’re not living paycheck-to-paycheck, and some lenders may give you a little latitude on other factors if they see you have saved a cash cushion.
5. Buying a home is a big decision and one that you’ll most likely live with for years to come. So make certain the house is perfect for you. In short, don’t skip inspections. Find out all you can about the neighborhood and the house. And, as best as possible, analyze your own needs and anticipate lifestyle changes you may experience in the next 5 to 10 years.
4. Buyers typically need to save enough to put anywhere from 3.5% to 20% down, unless you’re using Veterans Affairs loans. You’ll also need closing costs and funds for miscellaneous items. It’s possible the seller
Whether you’re ready to start your search, or simply have questions, let’s talk!