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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PRICING YOUR HOME TO SELL CORRECTLY

PRICING YOUR HOME TO SELL CORRECTLY

Pricing

Setting your asking price correctly is the key to successful results. Guided by our local market expertise, you’ll be able to make that decision with confidence.

It is important to remember that the value of your home is ultimately not set by you, but rather by the amount of money a buyer is willing to pay for it at any given time.

PROPERTIES PRICED RIGHT:

Increase showings

Bring more interested buyers

Creates ease in the appraisal process

Keeps the prime market momentum

Sends a message about your motivation to SELL!

OVERPRICED PROPERTIES:

Helps sell the competiions

Reduce showings

Loose buyers unwilling to negotiate

Loose prime momentum

Sends a message to buyers about your motivation. (Or lack of!)

 

The best marketing in the world will not sell your home!

 

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 Neighborhood Guide: Four Mile Creek

Boulder Neighborhood Guide: Four Mile Creek

fourmilecreek

Tucked away in the northeast part of town, Boulder’s Four Mile Creek is a quiet neighborhood featuring larger homes, modern construction and easy access to the Diagonal Highway. (It’s also an actual stream that flows through Four Mile Canyon so don’t get too confused.) The neighborhood isn’t that far from the hustle of Boulder but with the many cul-de-sacs and few through-streets, it offers a feeling of community that’s lacking in other parts of town. With the large lots and gorgeous landscaping, Four Mile Creek is a great place for Boulder-loving families needing more space.

History: Unfortunately, there isn’t a lot of history to be had in the Four Mile Creek neighborhood. Houses were constructed in the mid-90’s, which, despite what your younger friend might think, was not that long ago. The entire area has only existed as a developed neighborhood for about 20 years. For this reason, the neighborhood has a newer feeling. What it lacks in maturity, it makes up for in charm.

Housing: This neighborhood consists mainly of single family homes, although a few condos and townhomes are for rent in the very near proximity. Houses in Four Mile Creek offer contemporary design and expansive layouts, with many lots backing up to Open Space. The median sales price for homes in Four Mile Creek was $725,000, with many going well over the million dollar mark.

Restaurants & Shopping: There aren’t an abundance of retail or food choices in Four Mile Creek proper but there are options galore nearby in North Boulder. Just a short jaunt down the Diagonal Highway, Four Mile residents will find many restaurants in Niwot and Longmont. Additionally, Four Mile Creek is minutes away from 28th Street and all the shopping opportunities along the 29th Street Mall.

soccerfields2

Family & Fitness: There are a wealth of outdoor options available at your doorstep if you live in Four Mile Creek. Three parks (North Palo, East Palo and Palo Central) are within walking distance, thePleasant View Sports Complex features soccer field after soccer field and the Four Mile Creek Greenway connects you to 28th Street, making for a wonderful bike or hike into town. And let’s not forget that the Boulder Reservoir and Walden Ponds are both located just a short drive from this neighborhood.

Schools: Crest View or Columbine Elementary, Centennial Middle, Boulder High.

Quirks: None that I’ve discovered as of yet — but give it time!

Major street boundaries: Jay Road on the north, 47th on the east, 30th on the west and open space bordering the south.

Four Mile Creek is a family-friendly choice for those who are willing to pay for the comfort and convenience of living in a newer home, in the midst of a younger neighborhood, with easy access to the commuting of the Diagonal Highway.

 

 

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.

 

Search for homes for sale in Four Mile Creek

 

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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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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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5 WAYS TO ENHANCE YOUR HOME WITH FENG SHUI

5 WAYS TO ENHANCE YOUR HOME WITH FENG SHUI

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Feng Shui is the ancient art of creating harmony and positive energy in a space. You will find that if you follow the principles of feng shui, your living space will be more comfortable and appealing. It doesn’t even matter if you believe in esoteric principles or not. Let’s look at some ways to transform the different areas of your home.

1. ENTRYWAY

The entrance to a home is extremely important, as this is where both residents and visitors enter a living space every day. You want to make this area as inviting as possible. You can start by making sure this space is clean, neat and uncluttered. If the front door needs painting, if there are cobwebs in the doorway or if the wood on the front porch needs replacing, these can all block the flow of energy.

An entryway can be enhanced by an attractive door mat, plants or flowers on the front porch, and new hardware on the front door. You should take a look at the view in front of your door and think about how it could feel more welcoming.

2. KITCHEN

The kitchen is often considered the center or heart of a home, as this is where people tend to cook, eat and spend time with company. You can keep the energy flowing in your kitchen by making sure everything is neat and that food and dishes are put away when not being used. The kitchen should feel spacious at all times. You should also make sure that plenty of light enters the room during the day.

Having healthy and fresh foods around also contributes to the energy of the kitchen. This is also good for your body when you eat these foods too, of course!

 3. BEDROOM 

Bedrooms should be designed in a restful and relaxing manner. For this reason, it should be free of TV and other electronic devices as much as possible, as well as anything related to work or business. Try to keep computers, financial data and other items related to practical life in other areas of the home.

The colors used in each bedroom should be soothing and not overly energetic. This goes for the walls, floors and ceiling. The same goes for any artwork or decorations around the room.

Having a comfortable and sturdy bed is also essential. You should be able to enter your bed from either side. For balance, it’s good to have an end table on either side of the bed.

4. BATHROOM

First of all, the bathroom should be kept as clean as possible at all times. Keep drains plugged and the toilet seat down to prevent the escape of energy. Feng shui is all about balancing the elements, and bathrooms tend to have an excess of the water element.

To prevent any imbalance of energy, make sure that sinks and bathtubs are kept as dry as possible when not in use. Consider hiring a septic tank pumping contractor to prevent clogs that will cause flooding and water leaks. You can also add the earth element by using different colors in the room. Rugs, towels and mats, for example, can contain colors such as brown, green and gold to create some earth energy in the bathroom.

5. HOME OFFICE

From a feng shui point of view, it’s good to have a home office. This gives you a place to focus on business so that you don’t use the bedroom, living room or kitchen for this purpose. Ideally, the home office should be as far from your bedroom as possible. The room where you sleep should not be getting the active flow of energy that a home office will produce.

When working in your home office, you want your desk to be strategically positioned. A desk should not be near the door or in direct line with it. Nor do you want to be facing a wall. It’s best to have your back to the wall so you can see out into the room.

For feng shui in the home office, you also want the room to be as well organized and uncluttered as possible. Additionally, symbols of your goals and objectives should be visible from where you work. This can be anything from motivational posters to artwork containing positive symbols.

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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IT’S NOT DEJA VOUS ALL OVER AGAIN….

IT’S NOT DEJA VOUS ALL OVER AGAIN….

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I recently saw a real estate story here at the RealtyTimes site with the headline – Broke and Buying:Financial Options for Buyers with Money Problems. The story was written by another Realtor® and actually had good advice for people who might need a little assistance with a home purchase; so, that was a good thing. It was the headline that was annoying. Now, I know that one is supposed to use a catchy headline to grab the attention of would-be readers; but, it’s the mentality that one can be broke and still buy a home that got us into trouble the last time. Remember the housing bubble and the Great Recession?

The hope and belief that anything and everything is possible in America is one of the bedrocks of our success as a nation; however, there has always been a concomitant belief that one achieves those dreams and desires through hard work and perseverance. It is when we stray away from those accompanying values of achieving dreams through effort and begin to see the things that we want as entitlements that we step onto the slippery slope of failure and disaster.

I know that the word “entitlements” is fraught with heavy political and moral baggage; but it is used correctly here. The dream of owning one’s own home is strong and pervasive in our society, but it is not something that everyone is entitled to, whether they can afford it or not. It is not something that society owes to anyone. It is something that must be striven for and achieved through hard work and perseverance.

Hopefully the lenders learned enough of a lesson from the Great Recession not to repeat the scenarios that we saw prior to the collapse, where anyone who could fog a mirror could get a mortgage loan. I suspect that the majority of them have; however, there’s always a fringe element willing to take advantage of any situation and we are starting to see those ads that holler out, “No money, no problem!” I certainly hope we are not seeing Deja Vous all over again.

 

 

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 6 Types of People That You’ll See on Pearl Street Mall in Boulder

 

The 6 Types of People That You’ll See on Pearl Street Mall in Boulder

boulder pearl street mallThere are very few places in Boulder as iconic as the Pearl Street Mall. Officially dedicated on August 6, 1977, the Mall is home to some of the most colorful characters in Boulder.

It’s a great place to just grab a coffee and a bench people watch for a while. I’m fairly certain you’ll see at least one of these types of folks walk by.

Overly Caffeinated Guy

Speaking of coffee, with a raft of coffee shops both on and surrounding the Pearl Street Mall and given the fact that about 50% of all business meetingstake place in coffee shops, there’s at least a handful of guys or gals walking around Pearl Street with caffeine sweats, looking like their heart might beat out of their chest and their eyes might never close for sleep again.

Not Very Good at Percussion Instruments Guy

Fact: At any given time, there are about three drum circles happening around the Mall.

Fact: Only one of them is any good. For some reason, the guy rocking the bongos doesn’t seem to have any natural rhythm. Or if he does, it’s marching to a completely different beat than every other person in the drum circle, or the Mall for that matter.

Multi-Tasking Entrepreneur

With so many startup companies and coworking spaces located inDowntown Boulder, it’s safe to assume that 84% of the people you see walking around on Pearl Street are involved in some way with either a freelancing business (design, writing, programming or marketing) or a “lean” startup. You can usually pick them out of the crowd because they’re on their phone switching between calls, texting and emailing while walking with another entrepreneur discussing business (they tend to flock together).

Worried Parents of a College Student

They’ve seen the beautiful campus and toured CU facilities. They were informed of the prevalence and near legality of marijuana. Now their children are taking them for a tour of downtown. You can see the fear in their eyes grow with each bar they pass. Their eyes widen as they realize the actual cost of having a child attend CU Boulder: Gourmet eateries, boutique thread and upscale coffee houses. Sometimes you can almost tell that they’re trying to calculate the cost of a second mortgage on their house.

Incredibly Talented Street Performer

Boulder’s Pearl Street Mall has been host to many extremely talented buskers over the years (and some untalented ones. See also: Not Very Good at Percussion Instruments Guy), and some have gained local celebrity with their performances. “Zip Code Guy” performed downtown for years and never stopped amazing people. There was a Jamaican contortionist who could fit into tiny little boxes. Not to mention the wealth of musicians who seem just way too good not to already have found world fame and fortune.

Business Casual Dreadlocks

The epitome of everything that is Boulder: Organic, cruelty-free vegan party up top and high-octane business leader on the bottom. This person has a purposeful, perfectly manicured mane of dreaded locks, but dresses to the nines in designer styles that have been tailored to fit their body to a T. On occasion, the outfit will have just a little bit of climbing chalk stuck to the outside of the pants pockets.  It is the most confounding duality you might ever encounter and it’s something hard to find outside of Boulder.

This is really what Boulder is all about. It takes the rustic beauty of the Rocky Mountain majesty that lies on its doorstep and pairs it with a bustling, young city full of brainiacs and full force entrepreneurs and the outcome is like no other city in the US, which is why we are all happy to call Boulder home.

 

 

 

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.

8 ECO TIPS TO CREATE YOUR GREEN BEDROOM OASIS

 

8 ECO TIPS TO CREATE YOUR GREEN BEDROOM OASIS

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Did you know we spend approximately 1/3 of our lives sleeping?

The bedroom is supposed to be an oasis – a place of peace, safety, and happiness. But it can also be a potential source of toxins and chemicals.

Many options are available to green up your bedroom from adding plants to investing in an eco-friendly mattress. 

Protect your health and create your green bedroom oasis with these 8 eco tips:

  1. Indoor plants – Adding some hearty indoor plants is the simplest way to begin greening up your bedroom. Plants can help improve air quality and add a bit of Mother Nature’s beauty into your sustainable oasis.
  2. Eco Flooring – Eco-friendly flooring is cost-effective, durable, and devoid of harmful pollutants such as formaldehyde, benzene, and volatile organic compounds (VOC’s). Cork, bamboo, or natural fiber carpeting are fantastic green options for the bedroom.
  3. Eco Paints – A fresh coat of paint can liven up your bedroom, but most conventional house paints contain VOC’s. Choose green products verified for top performance, consistent environmental standards, and social awareness.
  4. Eco Mattress – Choosing your optimal green mattress takes time and a solid financial investment. Keep in mind that there is no regulated certification for “green” or “natural” mattresses. Look for mattresses free of polyurethane foam and contain no fire-retardants such as PBDEs (polybrominated diphenyl ethers). Choose materials such as organic cotton, pure grow wool, 100% natural latex, hemp, and steel innersprings. Support your mattress with a natural, untreated Forest Stewardship Council (FSC) certified wood box spring.
  5. Eco Bedding – Many bed linens are treated with formaldehyde to make them soft. High-thread count and wrinkle-free sheets are often treated with chemicals. Choose bed linens in fabrics like organic cotton and bamboo to cover your green mattress.
  6. Eco Lighting – Make the switch to LED lights. While LED lights are more expensive than traditional lighting, you get 50,000 to 100,000 uses.
  7. Eco Scents – Eliminate chemical-scented candles, synthetic fragrances, air diffusers, and room sprays. Try bouquets of lavender and rosemary. Choose plant-based scents, 100% essential oils, non-aerosol citrus room spray, and soy-based candles.
  8. Energy-Efficient Windows – Keep it cool in the summer and cozy in the winter by installing energy-efficient windows and insulating window shades/curtains.

Create a healthy, green, clean, and sustainable bedroom oasis today for sweet dreams tonight!

**Note: From the Green Science Policy Institute – “Manufacturers can begin to make flame retardant-free furniture under the new regulation, TB117-2013, beginning January 2014. Although the new standard can be met without flame retardants, it does NOT ban their use. Look for the TB117-2013 label on products, and then verify with your retailer or manufacturer that products do not contain flame retardants.”**

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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.