Buyer’s Resources Whether you are buying your first home or a magnificent mountain home, you can trust Real Estate of Winter Park to deliver the style of service you expect and results you deserve. We understand that buying a home is one of the largest and most important decisions many people will make. Contact our office, conveniently located in downtown Winter Park, for expert assistance and additional information. Once you have decided to buy property in Grand County, the next factor will be to focus on your needs, desires and goals. One of our knowledgeable Realtors can help you evaluate your priorities and research appropriate properties to satisfy requirements. Topics you may wish to consider include which neighborhoods or areas would best suit your needs. There are many lifestyle choices available. If you value proximity, you may choose a neighborhood close to the ski resort, downtown businesses and attractions and/or schools. If you prefer more seclusion and privacy, you may choose a property close to the Arapaho National Forest. You may review our listings by searching this web site and select the properties you would like to view in person. Our Realtors are happy to schedule showings at your convenience. Once you have selected the perfect property you wish to purchase, we can help you negotiate the contract, obtain financing and guide you through the closing process. At Real Estate of Winter Park our goal is to make this transaction as smooth as possible. Here are some tips that you may follow to make the search of finding your dream home seamless.
Getting Started Before you start looking for a home you should ask yourself a few questions:
Where do you want to live? Do you want to live near a golf course, on the slopes, waterfront property, wooded? What kind of house would you like (need)? Are you looking for a particular style? How many bedrooms and bathrooms do you want? Do you want a yard? How much house can you afford? Have you consulted a Realtor or mortgage lender to determine the size of the mortgage you would qualify for?
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 1
Here are a few tips to help you get organized:
Pull a credit report on yourself and make sure the information is accurate. If you find any errors take steps to correct them immediately. Browse through real estate advertisements in the newspaper and online. This will give you a good feel for the types of homes that are on the market and what they cost. Visit open houses on the weekend. It doesn't cost anything to look, and looking at a few different homes might give you ideas for things you'd like in a house but haven't considered. Start saving money - you'll need to have cash on hand for a down payment and closing costs. Don't incur any additional debt. Pay down your credit cards - and don't apply for any new ones. Don't make any major purchases on credit - buy the furniture or car later. Your Real Estate of Winter Park Realtor can help you determine how much you can afford, and they can provide you with information on homes that may interest you. The Realtor will also help you complete all of the necessary forms when it comes time to make an offer.
How much can you afford? Simply put, you can afford a home that costs as much as the largest monthly mortgage payment you qualify for. A quick way to estimate the size of mortgage you qualify for is to take your gross monthly income (that's before taxes and other deductions) and multiply it by .28. Mortgage companies use something called qualifying ratios to determine how much they will lend you. Most mortgage companies use either a 28/36 ratio or a 25/33 ratio. The first number in each pair is the percentage of your gross income that the lender would consider acceptable as a monthly mortgage payment EXAMPLE: $3,000 (monthly income) x 28% = $840/month The second number in each pair is used when all debt payments are considered, not just the mortgage. EXAMPLE: $3,000 (monthly income) x 36% = $1,080/month - $250 (car payment) = $830/month As you can see, in this example the numbers work out to be almost the same. Obviously if you have more debt you would qualify for less. Note: If an income or expense field does not apply to you, please leave it blank. All dollar figures should be entered in a monthly time period (i.e. if you earn $48,000 a year, place 4000 in the Salary field). This utility will give you an estimated mortgage payment you will qualify for. The purpose of this information is to serve as a useful guide. For more exact, personalized information, please contact a certified mortgage representative.
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 2
Why you should work with a Realtor® Working with a professional Realtor to buy your home is a good idea for several reasons:
They will analyze your financial situation to help you determine how much you can afford. They are familiar with the process of buying a home and can explain things to you. They can easily access information on all properties listed for sale by other sellers in Grand County. They can set up appointments for you to see homes that interest you. They will help you complete all the necessary paperwork when it comes time to make an offer. They will help you arrange financing. They will be there at closing to answer your questions and make sure everything runs smooth. All of our real estate agents are Realtors and abide by the Realtor Code of Ethics.
Choosing a Realtor® Searching for your mountain dream home can be a time-consuming experience, yet rewarding in the end. Working with a professional Realtor will make the process much more efficient. Since most people spend a fair amount of time with their Realtor, it's important to choose a Realtor you feel comfortable with, and one who is responsive to your needs. The following questions will help you decide if a particular Realtor is right for you:
Do they return your phone calls? Do they ask you questions to determine what you want/need in a house? Do they perform a financial analysis to help you determine how much you can afford? Do they explain things clearly? Do they suggest financing methods? Do they seem knowledgeable about the community? Do you feel comfortable spending time with them?
Colorado Real Estate Law
Colorado allows a choice for brokerage services. Colorado allows brokers to offer rebates to customers. To see how your state compares go to: http://www.justice.gov/atr/public/real_estate/statesmap.html In Colorado, you do not necessarily need an attorney to complete a real estate transaction, but we do recommend that if you would like legal counsel to please employ an attorney to work with you & your Realtor. Your Realtor can help you find an attorney in Colorado. In Colorado, all real estate agents are required to use standardized real estate forms that attorneys have created for us and they are some of the most thorough real estate contracts in the country! These forms are updated every year or two to comply with changes in regulations and new federal and state laws. To view any of the forms go to the Colorado Division of Regulatory Agencies Real Estate section: http://www.dora.state.co.us/real-estate/contracts/contracts2011.htm. You can also verify real estate licenses, check for disciplinary actions, files complaints and more.
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 3
Why Choose Real Estate of Winter Park? More knowledge. Better experience. When you choose Real Estate of Winter Park (REWP) you are working with a team of consistent top producers in the Winter Park market. No rookies here. Each of our Winter Park Real Estate Agents, broker/owners is a proven professional with at least ten years of experience in the real estate industry. You can be confident knowing that you are receiving the expertise you need to make informed and successful decisions. Our team approach serves you better. Our unique broker/owner approach puts your needs first by eliminating the inter-office competition that is often present in traditional real estate companies. As you work one-on-one with your REWP agent, our entire team is standing by to support you every step of the way. Our tools give your more choices. We help you shop all Grand County property listings – not just the ones listed by our agents – through the Multiple Listing Service (MLS). Find desirable properties in the area with our user-friendly search system, then contact us for more information and a showing! Powerful marketing that gets results. With a combined 130+ years of success in the real estate industry, REWP brokers have the knowledge, experience, and CONTACTS to market your property more effectively. Whether we're reaching out to thousands of qualified leads in our company-wide database, highlighting your property on our vast marketing network, or featuring your property on our state-of-the-art website, our marketing program gets the results you want. We give back to the Winter Park community. We love Winter Park and Fraser Valley. As long-time residents of this area, our agents are committed to preserving Grand County as a great place to live and visit. Not only do we contribute extensively to the community as individuals; as a group we are active members and sponsors of many local organizations including the Grand County Blues Society, The Grand Foundation, The Shining Stars Foundation, and the Colorado Association of Realtors® Housing Opportunity Foundation (CARHOF).
df
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 4
Helpful Resources Map Links: Old Town Winter Park, Lakota & Ski Area - www.rewinterpark.com/files/MAP OF WINTER PARKK SKI AREA & OLD TOWN WEB.pdf Winter Park (Downtown) - www.rewinterpark.com/files/MAP OF WINTER PARK WEB.pdf Fraser - www.rewinterpark.com/files/MAP OF FRASER WEB.pdf Tabernash (Pole Creek & Winter Park Highlands) - www.rewinterpark.com/files/MAP OF TABERNASH WEB.pdf Granby Area - www.rewinterpark.com/files/MAP OF GRANBY WEB.pdf Granby (Downtown) and Hot Sulphur - www.rewinterpark.com/files/MAP OF GRANBY & HSS WEB.pdf Lake Granby Area - www.rewinterpark.com/files/MAP OF LAKE GRANBY AREA WEB.pdf Lake Granby & Shadow Mountain Reservoir Area - www.rewinterpark.com/files/MAP OF LAKE GRANBY & SHADOW MTN WEB.pdf Grand Lake Area - www.rewinterpark.com/files/MAP OF LAKE GRANBY & SHADOW MTN WEB.pdf
Useful Links: Annual Market Report and other Statistics - http://www.rewinterpark.com/Stats Resource Guide of Grand County - http://www.rewinterpark.com/node/166 Calendar of Events - http://www.playwinterpark.com/events Pine Beetle Info - http://co.grand.co.us/DNR/mtnpinebeetle.html Rec Center Info - http://www.fraservalleyrec.org/
Title Companies Land Title Guarantee Company Title Company of the Rockies Stewart Title of Colorado Grand County Title and Escrow Company
970.722.0454 970.726.8077 970.726.9800 970.726.0228
Mortgage Lenders Summit Mortgage Group, Walt Lipinski 303.791.4567 Office 720.480.7761 Cell
Grand Mountain Bank – Fraser, Carolyn Rosenberg/Construction Loans 970.726.0414 Office
Wells Fargo – Winter Park, Chris Rue 970.726.2007 Office 303.880.5349 Cell christine.rue@wellsfargo.com
America’s Mortgage – Broomfield, Phil Kennedy 720.887.6844 Office 303.641.7307 Cell philipkennedy@americaloan.com
Homebuyers Mortgage – Steamboat, Jeff Chapman 970.726.5501 Office 970.846.4774 Cell 877.726.2696 Toll-free jeffc@homebuyersmortgage.com
Cherry Creek Mortgage – Denver, Todd Pruitt 303.331.4456 tpruitt@ccmclending.com Vectra Bank – Denver, Tammy Fulco 303.710.0106 tammy.fulco@vectrabank.com
*These names are only recommendations. Real Estate of Winter Park and its agents do warranty or represent any of these businesses or services.
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 5
TESTIMONIALS For more go to www.rewinterpark.com/our-team/testimonials From the Grand County Blues Society, Jon Catt Please pass on my personal appreciation to all the owners and associates of Real Estate of Winter Park (REWP): You set a high standard for sponsorship these past months. Having done six of these {Blues From The Top festivals in Winter Park} and gathering sponsors for everything we have tried to do, I can say without fear of exaggeration that your people and your company are an extreme pleasure to be connected to. Your tagline "Real Estate Is Changing" fits you perfectly. I hope that we can continue the connection with style and cooperation and we always remember our personal and team goals. That is what makes it worthwhile for us. The Grand County Blues Society (GCBS) has always been an all-volunteer team. What you have seen these past months is people who care about others and where they live. Trying to make a mark on the lives of friends and total strangers in the name of the community where we are so lucky to live. We could not have had a better event to be involved with and it came about in a very large part to your generosity. The day REWP came on board gave the GCBS the boost we needed. Thanks for promoting the event to your clients and for all the ticket sales you created. That made us feel like someone had finally joined forces with us. In all the events we have done, no one has jumped in with this much motivation. I hope you take time to look at all the programs we do that are ground-breaking and see how the energy your company has for this valley can make a difference. We are not just on a waltz as an organization, we are trying to change the world. We need the support of like-minded sponsors to continue. Once again, please thank everyone involved for us. From Kent & Bonnie We were very pleased with the professional and effective service (30 days from listing to contract) you provided in selling our cabin in Granby. You were the realtor we selected after interviewing 7 others. Your presentation, follow through, marketing and assistance during the sales process was impressive. We particularly appreciated your counsel during the process of handling the counter-offer and post contract questions. Thanks again. From Mark & Lisa Garcia Your commitment to us over the last 3 years has been amazing. There's no one else that we could have chosen who had the patience, understanding, and expertise to guide us through selling our property and purchasing a new build. When selling our property, your creative idea to use a buyer's incentive that only cost us $1,000 but earned us a $20,000 higher sales price was brilliant. And throughout the entire process of our new-build, you were there every step of the way, from signing the contract, to construction updates, to walk-throughs and even after the sale for additional inspections. You have worked so hard on our projects, many prompt e-mails and phone calls, we sometimes forget you have other clients! Words cannot express how special you made us feel. We trust you and value your judgment. You've helped to keep us grounded and reminded us of our real estate investments goals. Your are not just our realtor, but our friend. When we think of Winter Park, we always think of you Katie! Thanks for helping us with our home away from home. See you on the slopes" From Kristen Amenson I just wanted to thank you for your efforts selling my Winter Park house. The experience working with you has been great. I find you to be very easy to work with, extremely knowledgeable, and hard working. Your advertising techniques and follow-through on leads was what made the difference. I never had any doubt that you would sell my home for a great price. I would recommend you and your services to my friends and family. From Jessica & Kyle Henley Jean, thank you so much for all that you've done. This is our 5th real estate transaction and you are hands down the best realtor we've worked with. Thanks again!
Real Estate of Winter Park
970.726.2600
REWinterPark.com
Page 6