8 WAYS MILLENNIALS CAN SAVE FOR A HOUSE

8 WAYS MILLENNIALS CAN SAVE FOR A HOUSE

Millennials face many challenges when it comes to buying a home. Saving up for a down payment is difficult when burdened with monstrous student loans and a tough job market. Millennials have increased credit debt and decreased personal savings compared to their parents and grandparents.

Homeownership may not be the immediate future, but improving your financial situation can begin today. The right advisors,  smart spending, and savvy saving will pave the way to your new home.

Here are 8 ways Millennials can save for a house:

  1. Hire a financial advisor: A few years out of school I was struggling to make ends meet and my debt was only getting bigger. A financial advisor helped me evaluate my finances and devise a plan to reduce debt and start saving. Interview several advisors before deciding who you want to work with.
  2. Research student loan debt options: Student loan debts are a huge burden for millennials. Contact your lender to review your options. Reducing your monthly payment can help set aside funds for a down payment.
  3. Start an automatic savings plan: Place a percentage of your salary earnings directly into a savings account.
  4.  Community Housing Innovations, Inc.
  5. Consider a roommate or two: Reduce your rent and utility bills. Car pool to save on gas when making trips to the grocery store or heading to work.
  6. Evaluate your spending habits: What are your every day spending habits? Track every expense you make over a week. Try using Mint or Level to help track your spending.
  7. Cut back on monthly expenses: Don’t overpay on gym memberships, cell phone plans, and cable TV. Choose less expensive plans and watch your savings grow.
  8. Reuse, Recycle, Repurpose: Before you go out and buy new “stuff” see what you can reuse, recycle, or repurpose.
  9. Earn extra money: Freelance and part-time work can be a great way to earn extra income. Put 100% of this income into your down payment savings.

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John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

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The Marcotte Real Estate Group Has MOVED!

 

The Marcotte Real Estate Group Has MOVED!

ive_moved_postcard_with_dandelion_photograph-r82690acf58dc4bf1b613ce4c6ca5da9c_vgbaq_8byvr_324

Usually, I’m the one helping people make a move. This time, it’s me who’s done it! Because you are such a valued client and friend, I want you to know that I’ve moved my license and started a new company; Marcotte Real Estate Group.

Although the company I’m affiliated with has changed, the level of service I offer to all my clients hasn’t. I’m excited about the possibilities that this change brings for everyone with whom I do business.

I still have the same marketing and technology tools that I have had in the past – I have a more flexibility to list, market, and sell properties, taking my work with both buyers and sellers to the next level.

Things you may not know about me; I am a Boulder native raising my active family in this great community. With over 30 years of real estate and professional home building and home renovating experience, I have the structural expertise, understanding, and appreciation of the area’s unique offerings. I know homes!

You’ll start to see my new Marcotte Real Estate Group signs all over town soon!

Remember, if you know someone thinking of buying or selling real estate, please let them know that I can help make the process virtually pain free.

Sincerely,

John Marcotte
Marcotte Real Estate Group
john@boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte.  I’m never too busy for your referrals.

P.S. Don’t forget to visit my website to search all local properties –www.boulderhomes4u.com You can also contact me to see what your home is worth and of course, stay on top of my  Boulder Real Estate blog!

 

BEWARE OF APARTMENT RENTAL SCAMS

BEWARE OF APARTMENT RENTAL SCAMS

Since apartment rentals offer more privacy space at low costs(comparatively less than hotels), they are well in fashion and demand today. With their increasing popularity, however, the chances of scams have also increased!
As a customer, you should be careful while searching for an apartment rental over the Internet, for you may be a scam victim otherwise!
When searching an apartment rental online:
Verify the Location
Use your computer to find a list of prospective apartment rentals along with their addresses over the internet. After finding a street address, verify if the location really exists. The best idea would be to visit reputed real estate websites for authentic areas.

Prefer New Apartments Rental Apartments Question Answers

You should check for recently built apartment rentals, constructed within the last four or five years, and you can also go for those renovated within the last couple of years. Since you will be paying for your stay, have a keen look at the pictures posted on a website.
You should ask the owner to provide you with some more pictures if you find the property interesting. Take a final call only when you are sure your apartment rental has high-quality rooms and is on a good location.
Go through Online Reviews 
It is not enough to see a few photos to make a decision, for they might be false and posted to misguide you. You always have the option of going through the reviews provided online by real, satisfied customers.
Most reputed and genuine websites have a review section at the bottom of their homepage, making it easier for you to find comments left by customers. Try to find an online website that deals only in apartment rentals and has been into the business for quite long.
Use Credit card for Reservation
An advantage to reserving your apartment rental can be the option of disputing the charge, in any case if the apartment is a fake address. Most owners that accept credit cards are often genuine, for no businessman or rental apartment owner will want to get into a dispute and spoil their credit history. So, you should always use credit card when reserving an apartment rental for you.

 

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John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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A PRIMER ON FHA LOANS

A PRIMER ON FHA LOANS

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If you’re a first-time homebuyer, you might find the world of home finance a bit daunting. Mortgages come in all shapes and sizes, and interest rates can vary depending on your financial security, credit standing, and the size of home loan you are pursuing. Conforming, jumbo, fixed- or adjustable-rate … what does it all mean?

One type of loan for which you might qualify is an FHA loan. Since 1934, the Federal Housing Authority (FHA) has provided countless homebuyers with access to guaranteed, government-insured loans. This program has extended the option of home ownership to many responsible first-time buyers. While FHA loans are generally easier to qualify for than conventional home loans, it’s important to know a little bit of background information about this type of loan if you intend to apply for one. Here are a few facts worth noting for those interested in an FHA loan:

•The FHA does not actually provide loans; rather, it guarantees them. Only FHA Qualified Lenders are authorized to provide these loans, which the FHA then insures.

•FHA loans require both a credit report and an appraisal of the property for sale. If you begin the application process for an FHA loan, you should be prepared to pay for both. As with all home loans, a high credit score is essential to your ability to qualify.

•Loans backed by the FHA vary in different parts of the country in terms of loan cap amounts and general guidelines. Consulting a loan officer is vital to understanding the regional rules governing loans in your area.

•One of the attractive features of an FHA loan is its low down payment requirement. While most conventional loans involve a down payment of 20%, FHA loans can carry a down payment requirement as low as 3.5% – a great benefit to first-time homebuyers with financial security, but without a lot of reserve cash on hand.

•When pursuing an FHA loan, expect to provide ample documentation in the way of bank statements, employment verification, tax returns, pay stubs, and any other documents related to your financial holdings. Loan requirements in general are more stringent than ever, so be prepared to prove your financial solvency.

•FHA loans carry different interest rates that vary by lender, so make sure to do your homework and set your sights on the most attractive rate available to you.

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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Boulder Beer: Sanitas Brewing on the Right Side of the Tracks

Boulder Beer: Sanitas Brewing on the Right Side of the Tracks

sanitas_patio2

Open since September 2013, it’s obvious that Sanitas Brewing has already established a following. The folks you see hanging out in their Boulder taproom include beer geeks bellied up to the bar, groups of friends gathered at large tables and families with kids running around. And it’s easy to see why people enjoy Sanitas. There are games, friendly bartenders and delicious beers…what more could you want from the Boulder beer scene?

And it’s no secret – there’s no shortage of great Boulder beer. Let’s talk about what makes Sanitas special, though. The Black IPA is one of the flagship beers featured at Sanitas Brewing. It’s dark in color, loaded with piney hops and delicious. Additionally, the Sanitas Saison is an easy-drinking farmhouse ale, available year-round both in cans and on draft. The taproom also had three other Sanitas brews on tap during a recent visit, with those draft options depending on what seasonal beers the brewers have created.

sanitas_brewroom2

Sanitas has a polished industrial feeling to it. With communal wood tables and a wall of garage door windows, the place is warmer than one would expect from the office complex setting. The natural light that floods in courtesy the large windows make for a sunny and intimate view of the railroad tracks. In addition to the barroom, there’s also a conference room that’s available for rental by large groups. A $100 deposit (that goes toward the purchase of beer) is required to reserve the room.

When it comes to outdoor entertainment, Sanitas has you covered. There’s a regulation-size Bocce court out back and ample room on the large patio for other impromptu drinking games. Sanitas Brewing, fittingly enough, offers a nice view of Mount Sanitas and even closer, the railroad tracks that are right next to the brewery. Word is that when a train passes, you get a $1 off your pints. Unfortunately, they don’t know when trains will pass and somedays you have 20 going by while other days don’t see any. The brewery suffered slight damage from the flood and has more extensive landscaping planned for the upcoming summer.

Although the brewery doesn’t have a kitchen serving food, they do have a dedicated food truck in McDevitt Taco Supply. Tacos are sold daily and you can find out specific details on the Sanitas Brewing Facebook page or by following them on Twitter.

sanitas_frontdoor

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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HOW TO BUY IN A SELLER’S MARKET

HOW TO BUY IN A SELLER’S MARKET

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Make your must-have and wish list realistic, beginning with price. Be prepared for compromises – a bigger home vs a longer commute, or a smaller home in a preferred school district.

In a seller’s market, homes sell quickly, so the homes you find online or by driving the neighborhood may already be under contract or sold before you even get the chance to see them.

Homes in the best condition will sell for top dollar. Consider homes in need of cosmetic updates or repairs. The average home purchased in 2013 was about 20 years old, up from 11 years old at the height of the housing boom. You may be able to buy at a discount, make the updates you want, and bring your home to neighborhood standards – a quick route to building equity.

Don’t get caught up in the buying frenzy. If you need to make a full price offer or get in a bidding war, stay within your budget. Don’t let yourself become house-poor; your house payment including principal, interest, taxes and insurance should be no more than about 28% of your gross monthly income. That’s the conforming loan standard and it’s a good guideline for homebuyers to help them buy safely within their means.

Plan to stay in your new home at least five years. To buy and sell a home at break-even or with a profit, means you must be able to pay back typical closing costs, approximately 14 percent of the buy side and sell side transactions combined.

Search for homes in Boulder County

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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HOME BUYING PROCESS SIMPLIFIED

HOME BUYING PROCESS SIMPLIFIED

 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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17 STEPS TO SUCCESSFUL HOMEOWNERSHIP

17 STEPS TO SUCCESSFUL HOMEOWNERSHIP

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Homeownership continues to be an integral part of the American Dream. The reasons Americans invest in buying a home have stayed constant throughout the housing recovery. According to Fannie Mae, the top 5 reasons people buy a home are:

  1. To have a better place to raise their children
  2. To have a place where their family can feel safe
  3. To have more space
  4. To have freedom to renovate to their own taste
  5. Owning is a better investment.

Before setting out on your home buying adventure, assemble a team of real estate experts to help you on the journey. Take time to research, interview, and find the best real estate professionals for your needs and wants. Zillow Mortgage Marketplace is a great place to start the search for loan officers, mortgage brokers, mortgage banks, savings and loan companies, and credit unions. Your team of experts will guide you through each step on becoming a new homeowner.

Below is a timeline of each stage in the home buying process. The summary was provided courtesy of Wendy M. Doerzbacher, a Senior Mortgage Planner with Academy Mortgage Corp in Hauppauge, NY.

  1. Pre-Approval: Fill out a quick profile form, submit preliminary documents, and schedule a consultation with your mortgage planner.
  2. Find a Home: Make a list of your wants and needs. Hire a realtor to help find the perfect home.
  3. Make an Offer: Offer is accepted and binder is signed. Schedule home inspection. Inspection report goes to your real estate attorney.
  4. Purchase Contract: Review and sign your purchase contract with your real estate attorney.
  5. Loan Application Process: Gather remaining documents and submit with executed loan forms, disclosures, and executed contract of sale from seller. Your file is submitted to the loan processing department.
  6. Appraisal Order: Appraisal is ordered within 48 hours of signing the contract. The appraisal report is usually completed within 5 days.
  7. Processing: Loan processor completes all verifications for credit, employment, and assets.
  8. Appraisal Report: Report is received and reviewed. Copy is sent to you. Processor updates any outstanding conditions pending your loan approval.
  9. Underwriting: Processor submits your file to the underwriting department for final approval and commitment letter. The commitment letter is issued to you and your attorney for review and signature.
  10. Title Report: Your attorney submits the title report to the bank attorney for review and clearance.
  11. Insurance: Use the copy of your appraisal report and mortgagee clause to help choose homeowners insurance.Title insurance, flood insurance, and home warranty are also part of protecting your investment.
  12. Clear to Close: Submit all closing conditions noted on commitment letter for final clearance.
  13. Schedule Closing: You and your attorney are notified that your file is clear to close. A closing date is scheduled by your attorney and the seller’s attorney with the bank attorney.
  14. Final Walk Through: A final walk through of the property is done to approve the condition of the house before signing closing documents.
  15. Closing: All parties sign closing documents with the bank attorney. Certified check instructions are provided 24 hours before closing.  
  16. Homeownership: Transfer of title from buyer to seller. Congrats you are now a homeowner!
  17. Post-closing: Grieve your property taxes and apply for STAR.

Homeownership remains a powerful part of the American Dream. Create a team of real estate professionals to help guide you through the home buying process and achieve your dream of homeownership.

Boulder Real Estate

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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HOW TO PUT TOGETHER A HOMEOWNERS TOOLKIT

HOW TO PUT TOGETHER A HOMEOWNERS TOOLKIT

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If you’re a homeowner, you may have realized that you need a toolkit to help you with the maintenance and repairs on your home.  Having a homeowners toolkit will make all those routine maintenance tasks much easier.  Below are three toolkits you could put together.  The one you choose will depend on your particular skill level.  

Basic Skill Level Homeowners Toolkit
•    Hammer
•    Screwdrivers – a Philips, a flathead and a multi-bit
•    Flashlight
•    Measuring tape
•    Crescent wrench
•    Needle-nose pliers
•    Level
•    Utility knife
•    Wire cutters
•    Extension cords
•    Safety goggles
•    GlovesIntermediate Skill Level Homeowners Toolkit
•    All of the above plus the following:
•    Caulk gun
•    Square-head screwdriver
•    Vice grips
•    Electrical wire stripping pliers
•    Hack saw
•    Allen  wrench
•    Crowbar
•    Putty knife

Advanced Skill Level Homeowners Toolkit
•    Everything from the basic and intermediate toolkits plus the following:
•    Trowel for drywalling
•    Trowel for grouting
•    Trowel for cement applications
•    Tile cutter
•    Sledge hammer
•    Metal snips
•    Air compressor
•    Circular saw
•    Drill – either corded, cordless or both
•    Table saw
•    Chop saw
•    Jigsaw

As you’re putting together your homeowners toolkit, you’ll probably find  it necessary to add various tools from time to time.  Adding new tools will help you  accomplish the tasks for your particular home or hobbies or as your skill level advances.  Additionally, it’s always important to practice basic safety habits when working around your home. One of my favorite stores to find all these tools is McGuckin’s on Arapahoe.
 

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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QUESTIONS TO ASK A POTENTIAL CONTRACTOR FOR HOME RENOVATIONS

QUESTIONS TO ASK A POTENTIAL CONTRACTOR FOR HOME RENOVATIONS

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Doing home renovations can definitely be a tiresome venture, which requires a lot of time, effort and, certainly, money. This is the reason why many homeowners decide that it is much easier to just hire someone to do this for them, while they are safely away from all the commotion. That is when they hire a contractor. However, what many of them do not realize is that you have to approach the contractor selection carefully. The future of your home is at stake – it would be unreasonable to offer the renovation job to a contractor that you have heard of in the newspaper for the first time.

In order to make a choice, you have to ask all the candidates some questions and make your decision in accordance with the answers. To help you, I have selected a few questions that have allowed me to make a decision when I was renovating my house.

HOW HAVE YOU BEEN CONDUCTING BUSINESS IN THE PAST?

This question is aimed on finding out more about the history of the contractor. You will have to dig deep to find all the information that you need, but it will be worth it, because it will show you whether you are putting your house into trusting hands. You should be interested not only in the jobs that the contractor has taken in the past (and their completion, successful or unsuccessful), but also whether they are licensed to work in your state, are the payments to the employers regular, do they pay workers’ compensations, etc. Another thing that you would be wise to check is whether someone has filed a lawsuit or pressed legal charges against the contractor, because that will give you an idea how reputable they are.

IS THERE A TIME FRAME?

If you ask any of the contractors to provide you with the time frame (when they will start and when they think everything will be finished), they should be able to provide it for you, without much effort. Even though no one can provide you with definite, 100% accurate time of completion, they should be able to give you a rough estimate. Also, be sure to ask how long the cleaning up will take, as that is also one of the contractor’s obligations and should be done quickly and efficiently. Once you have selected one of them, you should make sure that everything is going according to plan by visiting the house twice a week and asking about the progress. You can, also, be constantly present there and watch it unfold everyday (if you have nothing more important to do).

HOW MUCH MONEY WILL THIS COST ME?

This one is fairly obvious, I must say. Normally, you will be interested in how much it all costs, because that is the primary concern of every home owner. The reason why I have put this here is to tell you that you need to ask each and every one of them this same question. You might get the same offers from a few of them, but you will also see that there are some who are much pricier, as well as those who are much cheaper than the others. Do not dismiss these. Instead, see why they have set such prices and go through their suggestions. It might happen that those who ask for more money have seen some structural weaknesses that others have not and they require more money for fixing those.

DO YOU FOLLOW AND OBSERVE ALL THE RELEVANT SAFETY CODES AND REGULATIONS?

This one might seem like it is none of your concern. Why would you care whether the workers will be properly protected? Well, because it is possible that, should some of the workers get injured while working on your house, you might be deemed guilty for it and you might be held financially responsible. I do not want to mention that having someone injured on your property can be seriously disturbing. Broker or severed limbs, deep cuts and similar injuries can be quite gruesome and the image could stick with you for the rest of your life. So, make sure that the contractor that you hire has a quality management plan that will ensure the safety of the workers. Also, make sure that this plan is being conducted on site and that it is not there just for show.

 

John Marcotte
Marcotte Real Estate Group
720-771-9401

john@boulderhomes4u.com

Search for homes on my website @ www.boulderhomes4u.com

When thinking of Real Estate, think of John Marcotte
I’m never too busy for your referrals.

 

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