MOVING WITH YOUNG CHILDREN

MOVING WITH YOUNG CHILDREN

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Are you happy and excited about selling your home? Or are you dreading the sorting, packing and other chores?

Your attitude is contagious to little children. If you look at moving as an exciting adventure full of fun, new possibilities, then you’re halfway to getting your children on board for the ride.

Most children don’t like the changes associated with moving, so it’s your job to get them looking forward to it. The younger the child, the less able they are to “see into the future” as you do. They tend to focus on missing friends and family.

Acknowledge and empathize with the loss they feel and show them how to balance their feelings with what they have to gain.

1. Communicate with your child patiently and frequently. Let your children know, step by step, what is happening and what is likely to happen next. Tell them what the move means to the family — how important it is that Mommy got a big promotion or that Daddy is opening a new office for his company and putting people to work.

2. List all the advantages there are for the child in the move. For example, will the family be closer to Grandma, or another favorite person? Will they be closer to the ocean, a park or other favorite place? If you promise they’ll be able to see old friendsand family frequently, be sure to keep your promise. Children are like elephants – they never forget.

3. Show your kids as many pictures of their new home, neighborhood and city as possible. When you show your child their room, make a game of it. Draw a room plan and let your child draw and cut out images of furniture and toys to move around.

4. Introduce your child to the new community online. Draw a map or print one out and show how close Mommy and Daddy work, where schools are, where Aunt Bea lives, and other points of interest to help them orient themselves in their new surroundings.

5. Be ready for those “What about me?” questions. If your child is in scouts, little league, or other organizations, contact those associations for referrals in your new neighborhood or city. Knowing they won’t have to give up favorite hobbies or sports goes a long way toward helping children adjust.

6. Let your child participate. Make a fun activity out of researching services you’ll need online, like finding a veterinarian for your dog. Older children can find blogs online about their new school.

7. Keep your child occupied by letting them plan what to pack and what to take in the car or plane on the way to their new home. Pack a box or two of their special things and make sure it arrives at your new home before you and the kids arrive so they won’t have to wait for their favorite things until everything’s unpacked.

8. Encourage them to take the time to exchange good-byes with friends and loved ones and get addresses, e-mail addresses, and phone numbers to stay in touch. If they’re old enough to write, let them start making notes about the moving experience so they can put their thoughts into letters later.

9. Try to stick to normal routines as much as possible. Let your children know that, although they will soon live in a new house, the rules of the household will still be the same. Bedtime is still at 9 p.m., and homework must still be completed before TV or video games.

10. Make sure they know that although Mom and Dad are a little busier and distracted with the move, they love their children very much and are giving the entire household a new opportunity to grow. Your preparations will go a long way in reassuring your children that their needs are being considered, even while big changes are happening around them.

 

 

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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BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

BROKE AND BUYING: FINANCIAL OPTIONS FOR BUYERS WITH MONEY PROBLEMS

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For some, timing can be one of the biggest obstacles in making responsible financial decisions. No market holds this rule more firmly than real estate. Often, the ideal time for purchasing a new home and striking out on our own, whether alone or with a family in tow, can happen at a time in which one’s finances are in a less-than-ideal order. This causes many upstart families to settle for housing in low-rent apartments or in sketchier neighborhoods which quickly fall below their standards of living once they achieve financial footing. Being stuck with a lease in such a living environment can be a dismal situation.

 

Financing a home on a tight budget can be an enormous challenge, but a savvy buyer can find ways to make ends meet even if they aren’t exactly equipped to handle the financial burden from the start. Here are just a few options to consider when financing real estate when your cash flow isn’t yet ready for it.

Qualifying low interest loans

Depending on your individual circumstances, you might find that you are eligible for financing options that most buyers aren’t able to access. Holding a veteran status, or being a dependent of a veteran, can leave extremely low interest options available to you. With virtually no ceiling on how much you can borrow to finance your home, this can be the very best option for veterans.

However, even non-veterans can enjoy exceptional, special low-interest loans depending on where they search. Many homeowners in densely populated Native American centers have enjoyed the benefits of HUD 184. This program was designed by the government in 1992 to provide Native Americans opportunities since mortgage lending has been scarce in tribal regions. In addition to being one of the best financial options in these areas, it also helps keep tribal property within tribes in the event of a foreclosure.

It’s always worth doing your research to see if you’re in a position to qualify for special financing options before seeking out general options. Since most of these special options involve government support, loaners are often more available to provide more generous terms. However, if you don’t qualify for these programs, there are loan options available to just about anyone that might be preferable depending on your circumstances.

Traditional loan options

Fixed-rate mortgages are a generic solution that can be relied on, but it can be difficult to qualify if you have a middling to poor credit rating. This can be even more difficult if you’re attempting to acquire a jumbo loan, or a loan which surpasses predetermined loan limits. These loans can make the momentous interest on barely qualifying loans even worse.

When qualifying for these loans becomes difficult, loans provided by the Federal Housing Administration can be a vastly better route. An FHA loan also includes a far smaller down payment – as low as just three percent – which makes it better for families in dire financial straits in need of a home. While this can result in longer term payments and comes with a much shorter loan ceiling, it’s an effective option for lower to middle income households who are seeking standard urban or suburban housing.

These options are just a few that households can consider in tough economic times without having to compromise on their vision for what their standard of living should be. Signing a lease is a huge financial responsibility, so assaying your options and settling for satisfactory housing should be one of your very highest financial priorities.

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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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Is Buying or Renting Right for You?

Is Buying or Renting Right for You?

rent

The decision to buy or rent depends on your current financial situation, your future plans and the lifestyle you want to live. Both options have their own set of benefits, and potential drawbacks, that should be carefully evaluated.

Buying may make sense if you…

  • Have reliable income, good credit and documentation to verify your savings.
  • Can afford at least a five percent down payment and related closing costs.
  • Want a chance to build equity and be eligible for homeowner tax breaks and credits.
  • Are financially able to take on home-maintenance/improvement projects.
  • Have an adequate cash reserve to withstand a loss of job, long-term illness, or other financial setback.
  • Are planning on staying in your home for at least four years.

Renting may make sense if you…

  • Have a career or lifestyle that requires you to move frequently or suddenly.
  • Prefer having a set monthly budget and cannot afford unforeseen home-maintenance expenses.
  • Do not have the time or desire for home maintenance /improvements.
  • Enjoy having amenities such as a pool, gym, concierge and tennis courts.
  • Plan on downsizing your living space or retiring in the near future.
  • Are experiencing a financial setback and/or rebuilding your credit.

The advantages of owning or renting are different for everyone, so be sure to consider these important personal situations and long-term goals before making your decision.

 

 

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!

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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!

 

THE GREAT OPEN HOUSE DEBATE

THE GREAT OPEN HOUSE DEBATE

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With the spring real estate market just around the corner, more homeowners are thinking about putting their homes up for sale. And with a potential influx of new properties hitting the market, it’s an important time to think about how you can make your home stand out from the rest.

There is an ongoing discussion of whether it benefits a seller to hold an open house. These days, virtual open houses are the norm, with real estate websites featuring virtual tours that give a more nuanced and dimensional view of a home for sale without the effort of heading out to every property that shows promise. Some agents feel that this technology is replacing the need for actual feet-on-the-ground open house visits.

Other arguments against holding an open house include the arrival of nosy neighbors to go through your home when you’re not there (but does that really matter if you’re moving away?) and worries about security. The quick fix for security concernsis to remove all items of value (both financial and sentimental) from the property before the open house. These concerns aside, many agents feel there are very few drawbacks to staging an open house. In fact, there are quite a few reasons that an open house might be a good option for you when you list your home for sale. Here are four:

Exposure. Even a casual or unmotivated prospective buyer can drop by an open house without having to go to the effort of booking a showing. A quick walk through of your home might pique an interest for further visits in the future. Additionally, open houses receive added attention via signage and classified or Internet ads. More eyes on your home could translate into an offer.

Convenience. With an open house, you get to decide on timing, meaning that in contrast to the tedious daily effort of keeping your home “show ready,” you can have it looking exactly the way you want prospective buyers to see it. You can add in fresh flowers, cookies straight from the oven, and other small touches that are harder to pull off on a daily basis when you’re not sure whether to expect a showing. Your house will come off feeling like a true home.

Comparison. On any given weekend, prospective buyers will likely have a number of different open houses they can visit in your community or area. Being able to compare yours directly to others may give you a slight edge over the competition – particularly if a buyer is motivated to make an offer and get into a new home quickly.

“The Lock. For a buyer who is already interested, holding an open house might just be the tipping point on the road to an offer. An open house gives an interested party the opportunity to check out the house more thoroughly and without feeling rushed, even if they’ve already had a private showing. A prospective buyer might even bring friends or family along to get an opinion about the house. And that could be just the nudge a potential buyer needs to take the plunge and make an offer.

 

 

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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Things To Consider Before Buying a New Home

Things To Consider Before Buying a New Home

 

afo

If you’re considering a move away from the big smoke of London, or are looking to buy your first property, a new build is well worth thinking about. While a large number of people fantasise about a period property and the ‘character’ that comes with it, the fact is that older properties are more expensive both to buy and upkeep, and therefore likely not to be the best investment for your hard earned cash.

They say that buying a house is one of the most stressful things you will do in your life. So, before you make this monumental decision here are some things that you need to consider.

Local Amenities

It’s all very well having a beautiful home, but if you aren’t close to local amenities you might find that your love for it soon turns sour. Having to get in the car and drive for half an hour to reach the nearest shop might suit some people, but for the vast majority of us it would soon turn into a gigantic pain.

Consider realistically how close you need to be to amenities such as schools, shops, post offices and banks. Factors you will need to take into account include whether you have a car, how busy your life is and if you have any kids. Write down every likely journey you will need to do in a week, and then calculate how much of your life will be spent travelling – this should put things into perspective!

It’s also worth considering how close you want to be to friends and family. Although you might think that moving away from them will be fine, you could quickly discover that proximity to them is integral for your quality of life.

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Can You Add Value?

Your home will probably be the biggest purchase you will ever make, and the smart move is to make sure that whatever you buy can have value added to it. Don’t be blinded by fancy décor, it’s the bare bones of the house and things like space that really matter. This will mean that you can move up the property ladder, and it will also put you in a great financial position for the future.

Some of the best ways to add value include adding an extension, converting a loft or basement or knocking down walls to add light and space. However, there are a number of things that you will need to consider. Firstly, you will need to enquire about planning permission which is usually applied for online.  In the UK the rules regarding local area’s planning permission are slightly different, but local authorities will have a website where information, contact details and relevant documents can be found.

You will also need to get a reputable builder to visit the site and provide you with a quote for the work. The price of this will likely affect how much you can afford to pay for the house. Bear in mind that if you can’t afford to make the changes right away you will have to live with them for some time – will this be practical?

What Will Your Life Be Like in 5 Years?

When you’re buying a house you need to consider what your life is going to be like in the future. It might be convenient to live in a city centre apartment now, but if you’re imminently planning to have kids you’re going to grow out it pretty quickly. Not only is moving again in a hurry a massive hassle, but it won’t make financial sense if you haven’t had time to add value or pay off much of the mortgage.

The five year rule is a good ballpark guideline – this basically stipulates that if you don’t want to take a hit financially you need to live in a house for around five years. Try sitting down with whoever you’re moving in with and brainstorming your future goals. This way you can establish a rough idea of how you want your life to look, and therefore the kind of house and area that will suit this vision.

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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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REAL ESTATE-HARD TO SELL BY OWNER

REAL ESTATE-HARD TO SELL BY OWNER

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SELLING YOUR HOME ON YOUR OWN MAY BE HARDER THAN YOU THINK!

Here are some points to consider:

You may place the security of your home and yourself at risk. Ads and “For Sale by Owner” signs tend to invite just anyone to inspect your house. You have very little control and no opportunity to pre-screen potential buyers.

You may not know the marketplace well enough to establish the best price for your home. If it is too high, you may lose buyers. If you ask too little, you stand to lose a great deal of money.

The coordination of arrangements and the paperwork involved with a home sale require many hours, especially if you are not well versed in real estate and the law. You also stand a chance of making costly mistakes. A professional in real estate can assist you with all the legal documents needed, especially when selling houses with fire damage for cash.

You may have limited advertising resources. Without good advertising and professional help, your home may be on the market for too long to get top dollar. That makes it harder to sell even if you do ultimately decide to list it with a REALTOR. People may think it hasn’t sold because there is a problem.

Buyers often need assistance with financing. That’s a job best left to a trained professional. Unless you are skilled in the art of compromise, you may not be able to effectively close your sale. The “give and take” aspects of the sale of a home must be skillfully negotiated before a transaction is successfully completed.

Believe it or not, buyers don’t like to deal directly with home sellers. They aren’t comfortable asking questions or pointing out discrepancies since insult or confrontation may result.

Oro Valley Real Estate-Hard to Sell By Owner

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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SHORT SALE HELPFUL TIP

SHORT SALE HELPFUL TIPS

 

Q: How long do I have to wait to buy a new home after I have had to do a short sale on a previous home?
A: Maybe not as long as you think. It is totally dependent on your own personal situation. In general terms, for Federal Housing Administration loans, there’s a three-year waiting period from the short sale closing date, and homebuyers can get a mortgage with as little as 3.5 percent down. Those who qualify for a Veterans Affairs loan have to wait two years and are not required to make a down payment. It is important to find out what your situation is currently. Talk to an expert in the mortgage industry to get your personal plan started so you can buy soon.

Q: What are the first steps to getting ready to purchase again?
A: Use your annualcreditreport.com, which is an annual credit report you can get for free. Check to make sure all your current debt is up to date and that all accounts are reporting correctly. If not, use this time to contact those old debts and correct any owed balances or incorrect reporting.

Q: Will a large down payment be required when I do want to enter the housing market again?
A: Not necessarily, it depends on the situation. If you qualify for an FHA mortgage, your down payment may be as low as 3.5%. Get with an expert mortgage consultant to talk about your specific situation and options for your future home purchase.

Q: Is there any difference in getting back into the market, if the short sale was an investment property or a primary residence?
A: When it comes to getting back into the market and qualifying for a mortgage loan, a short sale is a short sale. The qualification in regards to down payment, time you need to wait, and credit are the same no matter if the property you originally had a short sale on was an investment on a primary residence.

Short Sale Helpful Tips

 

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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SHORT SALES AND THEIR EFFECT ON YOU, NOW AND IN THE FUTURE

SHORT SALES AND THEIR EFFECT ON YOU, NOW AND IN THE FUTURE

If you are a current homeowner living in an area where there are many “Short Sale” home sales occurring (and foreclosures) this is certainly affecting the value of your Real Estate. The lien holders on a “Short Sale” are agreeing to allow the owners to sell their home for less than what is owed and in many cases for less than current market value. This then drives the market value lower and lower. Until the Foreclosure Sales and Short Sales taper off this is going to continue. Even if a buyer is willing to pay top dollar for a home in your neighborhood, if they are financing the property the appraiser is now struggling to find comparables to justify the price the buyer is willing to pay. If the appraised value falls short of the negotiated sales price the buyer may not be able to procure the loan which forces the seller to re-evaluate his negotiated price to determine whether to sell in today’s market.

If you are a current homeowner that has made the decision to sell your Real Estate in a “Short Sale” scenario here are some things you will want to investigate thoroughly. What is my future debt responsibility? What are my tax implications? How will this affect my credit now and in the future? The internet is truly a gift when it comes to finding answers; let’s look at the credit issue. Based on data compiled by Fair Isaac Corp., which developed FICO scores, and VantageScore, the scoring model used by three of the major credit bureaus – Experian, TransUnion and Equifax – if a lower sales price than outstanding balance was negotiated (Short Sale), but a delinquency was reported it would affect the credit approximately 50-140 points; there will also be an impact on the score depending how many late or non-payments were reported prior to the close of escrow. You could possibly turn around and be able to purchase in as little as 12-18 months (a Fannie Mae or Freddie Mac backed loan is a minimum of 2 years). If the home is foreclosed on the damage is a bit more severe and would affect the credit approximately 150-300 points plus damage of the late or non-payment history already reported. Typically this will affect your purchase power for a minimum of 3 years.

The Distressed Property Institute, LLC reports that Credit History on a Foreclosure will remain as a public record on a person’s credit history for 7 years or more. A Short Sale is not reported on a person’s credit history. There is no specific reporting item for “short sale”. In most cases a loan is typically reported “paid in full, settled” or “paid as negotiated”. For more information on Foreclosure vs. Short Sale regarding future loan potential, credit score, credit history, security clearances, current employment and future employment visit the Certified Distressed Property Expert at www.cdpe.com.

 

Short Sales and Their Effect on You, Now and in the Future

 

 

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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