Stop Stressing: You Don’t Need a 20% Down Payment to Buy a Home

Stop Stressing: You Don’t Need a 20% Down Payment to Buy a Home

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK
02/08/2022 Olson Tolan Team Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase price to buy, according to NerdWallet’s 2020 Home Buyer Report. “These days, you don’t need to put a full 20% down on a home,” says NerdWallet home and mortgage expert Holden Lewis. “Lenders offer mortgages with far less — as little as 3% down — which allows far more people to get into homeownership sooner.” So, how do you know just how much you need to save up based on your specific goals? It requires a little strategizing. Before you can…
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FIRE PROOF: 4 WAYS TO PROTECT YOUR HOME FROM WILDFIRES

FIRE PROOF: 4 WAYS TO PROTECT YOUR HOME FROM WILDFIRES

ENVIRONMENT, Helpful Advice, HOME BUYER HANDBOOK
by steamboatsir | Jul 8, 2021 With the increasing occurrence of wildfires throughout the Rocky Mountains and all over the western U.S. in the last few years, homeowners are taking stock of their insurance policies and looking at proactive measures to mitigate fire risk. The drought conditions in Steamboat Springs have led to wildfires that are uncomfortably close to many who own property in Routt County. The two wildfires burning in our area – the Muddy Slide fire in South Routt and the Morgan Creek fire in North Routt – are currently under control, but it’s important to make sure that property owners know how to take precautions to ensure that they are covered in a worst-case scenario. “One of the most important things people can do is make sure that the replacement…
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HOW MUCH HOUSE CAN YOU AFFORD: ROUTT COUNTY SINGLE FAMILY HOME MARKET SURGES

HOW MUCH HOUSE CAN YOU AFFORD: ROUTT COUNTY SINGLE FAMILY HOME MARKET SURGES

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK, SOTHEBY'S NEWS, STAGECOACH
by steamboatsir | Jun 16, 2021 Last year set real estate records in Steamboat as the pandemic accelerated what was already a market experiencing increased demand and low inventory. With Steamboat Resort announcing it’s $180 million renovation at the base area and terrain expansion that will make the resort the second-largest in Colorado, demand will continue to grow. Over the past year, real estate within the town limits of Steamboat Springs has seen a phenomenal increase in activity and appreciation. One must wonder what is happening in the communities surrounding Steamboat – have single family homes fared better or worse? There are surprising results… The Steamboat Springs Multiple Listing Service, which primarily covers Routt County, uses several geographic regions to help categorize market activity. Steamboat Springs typically captures two-thirds of the MLS market…
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FROM PILLAR TO POST: EVERYTHING YOU NEED TO KNOW ABOUT BUILDING YOUR DREAM HOME

FROM PILLAR TO POST: EVERYTHING YOU NEED TO KNOW ABOUT BUILDING YOUR DREAM HOME

Design Trends, Helpful Advice, HOME BUYER HANDBOOK
by steamboatsir | May 25, 2021 After a potentially long and arduous search, careful due diligence, and maybe a hectic or stressful purchase process, you’ve finally purchased your slice of land in Routt County. To the uninitiated buyer, the next step, how to actually get your house designed and built, can be daunting, with a myriad of unanswered questions and a nebulous idea of where to start. The Broker will likely have painted some manner of background picture about the process so that the new owner is not completely in the dark. The big question – which comes first…the builder or the architect? Chicken or egg? There are multiple project delivery mechanisms available. Ultimately the owner must choose an approach with which they are most comfortable after considering the pros and cons of…
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3 Reasons to Hire a Seller’s Agent

3 Reasons to Hire a Seller’s Agent

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK
If you’re selling your home, you should expect a list of expenses. The commission you pay the seller’s agent is usually one of the biggest, around 6% of your home’s selling price. This pays for the valuable work your seller’s agent, also known as a listing agent, does for you: preparing the home, marketing it, showing it to potential buyers and helping you through the selling process. Some owners try to save money by not working with an agent and listing their homes “for sale by owner.” But FSBOs, as they’re known in the trade, require time, effort and real estate know-how. FSBOs also incur their own expenses, ones that people who hire listing agents don’t have to pay. For most homeowners, it pays to hire a listing agent. Here’s why: Getting the price right An…
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Finding a New Home for Your Next Stage of Life

Finding a New Home for Your Next Stage of Life

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK
Imagine the first place you lived as a young adult. Now imagine trying to fit your life today into that space. Not pretty, right? For most of us, our housing needs are cyclical.1 A newly independent adult can find freedom and flexibility in even a tiny apartment. That same space, to a growing family, would feel stifling. For empty nesters, a large home with several unused bedrooms can become impractical to heat and clean. It’s no surprise that life transitions often trigger a home purchase. While your home-buying journey may not look like your neighbor’s or friend’s, broad trends can help you understand what to keep in mind as you house hunt. No one wants to regret their home purchase, and taking the time now to think about exactly what…
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WHAT DEFINES STEAMBOAT STYLE?

WHAT DEFINES STEAMBOAT STYLE?

Design Trends, Helpful Advice, HOME BUYER HANDBOOK, STEAMBOAT LIFE STYLE
by steamboatsir | Apr 13, 2021 Gone are the days of traditional mountain home interiors, demarcated by iconic references like log, stone, and antlers. With the influx of home buyers from all over the country, “Steamboat style” is no longer defined by a Ralph Lauren ideal of the American West. “Our niche is change,” says Olivia Kimmeth, a Steamboat-based interior designer and owner of Olivia’s Home Furnishings. “With people who are moving here from all over the country, our definition of mountain modern has changed, and we have to change with it.” Olivia asks her clients to start the design process using Steamboat’s beautiful surroundings as inspiration. “When clients ask me where to start, I have them take a moment to look out at the mountains. That is our canvas. That’s why people…
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Can I Buy or Sell a Home Without a Real Estate Agent?

Can I Buy or Sell a Home Without a Real Estate Agent?

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK
Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for homes in the most sought-after neighborhoods. This has led some sellers to question the need for an agent. After all, why spend money on a listing agent when it seems that you can stick a For Sale sign in the yard then watch a line form around the block? Some buyers may also believe they’d be better off purchasing a property without an agent. For those seeking a competitive edge, proceeding without a buyer’s agent may seem like a good way to stand out from the competition—and maybe even score a discount. Since the seller pays the buyer agent’s commission, wouldn’t a do-it-yourself…
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3 Big Real Estate Myths

3 Big Real Estate Myths

Helpful Advice, HOME BUYER HANDBOOK
ROI under 100% = A Bad Remodel It’s rare that a remodeled kitchen or bathroom will result in a complete return on investment, but that shouldn’t necessarily be a deterrent. What people don’t seem to factor into the equation is the fact that, until the day you sell your home, you’ll have the benefit of enjoying the remodel yourself! Let’s say that you get 75% ROI on a remodeled kitchen, but you got to enjoy that kitchen for a year before selling. I’d chalk that up to a win. Swimming Pools Make It Harder to Sell a Home No home is going to appeal to every market, but that’s not the point! The point is to find one perfect buyer. If swimming pools don’t appeal to older home buyers, such as…
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New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put

New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put

BUYING AND SELLING REAL ESTATE, Helpful Advice, HOME BUYER HANDBOOK
The start of a new year always compels people to take a fresh look at their goals, from health and career to relationships and finance. But with historically low mortgage rates, increased home sales and price growth, and a tight housing inventory, the time is right to also make some homeownership resolutions for 2021. Home buyers, is this the year you work to improve your credit score, pay down some debt, or save for a down payment? Home sellers, we’ve laid out plans for you to get top dollar for your property, including timing your home sale, making your property stand out from the crowd, and investing in your extra living space. And even if you’re staying put for awhile, homeowners, you can resolve to improve your status quo by…
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