Welcome to our new series, where we will be introducing and explaining a Real Estate or Mortgage term!

Zoning in the Denver Metro area has been a hot topic the past few years with the real estate market booming. 

We have new developments going up daily and all of them have an effect on neighboring property values.  Should you know what zoning code your real property has? Yes!  You may be able to build a 2nd story to your home, or an ADU (accessory dwelling unit) or you may not be able to.  Depending on your particular properties zoning code your lot could be sold at a premium.

While your zoning isn’t necessarily unique in that others don’t share the same type, it is notable because yours could be different from your neighbors or the neighborhood across the street.  According to Investopedia “The presence of zoning restrictions can influence prices…

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Finally a rate that may make you some money!

We are to the letter Y in our vocabulary blog!  Only one more letter to go.  If you haven’t noticed in my previous blogs there are only a few places that I trust to get financial explanations on the internet.  Financial advice and execution is not the same for everyone, although everyone has an opinion on the matter.  The good news is that when you are only looking for the definition and application of said financial, real estate or mortgage term or concept it seems that Investopedia has taken the lead on good information.  This weeks topic is no different.  Actually, I think its my favorite explanation of an interesting topic: Yield Rate.  Do you know what it is? 

Investopedia wrote an awesome…

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Or does it?

To be honest, there just isn’t a mortgage or real estate term that starts with the letter X, but you are going to see the letter throughout the process around 100 times or more.  The letter X followed by a long line typically signifies that a signature is required.  From getting pre-approved to purchase real estate all the way through to the closing table, you will be requested to sign multiple disclosures and contracts to get the deal done. Simple enough right? For the most part, yes, but please read those contract and disclosures before signing... some restrict your rights while others protect them.  

According to Investopedia there are a few more X words but I’d say they are reaching a bit.  Either way, here are the ones they…

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If you are about to embark on the wonderful journey of home buying or selling this weeks topic is for YOU! 

There are a few times during the transaction that someone may decide it's easier to wire their funds to the title company or that the seller would like their proceeds wired directly into their account.  This makes complete sense!  After all its 2019 and who wants to take a check to the bank when the money can be swiftly sent to its destination?  No one.  Although, its best to use extreme caution.  In the past few years we have seen a rise in wire fraud.  So let's discuss what wire fraud is, shall we?

The basic definition of wire fraud given to us by the almighty Google is “financial fraud involving the use of telecommunications or information…

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Going under contract is a very exciting moment in the home buying process.

CONGRATULATIONS! It means you have found a home you love, have made an offer that the sellers found acceptable and now you can start the remaining process of buying a home. Being under contract does not mean that the home is yours, not yet at least.  It means that all of the cogs in the wheel are now turning; your mortgage company finalizing financing, you order and inspection and/or appraisal on the home, or the title company is finalizing the deed etc.  It also means that the seller cannot accept any other offers.  They can however accept back up offers incase your deal falls apart).

You’re probably wondering how to go under contract on your dream home when inventory is…

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Life insurance, car insurance, health insurance, and title insurance… wait, what? 

What is title insurance and why do you need it? Great questions!  We all know that insurances as a whole are intended to protect you if something unfortunate happens.  Title insurance is issued to protect both the lender and the buyer from loss or damages in the purchase of real estate.  There is a section in the Colorado Real Estate contracts that is specifically for title insurance.  It addresses who chooses the title company, who is paying the fees associated with the title and title insurance and finally the coverage that is requested on the property.  The most common type of title insurance is lenders title insurance, meaning that the borrower purchases…

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I hate to break it to you but we are not discussing how much you and your roommate have in common.

 Leave it to the real estate world to use the common term "tenant", normally referring to someone renting or leasing a property, to explain how much ownership you have of a property when you purchase it.  How you are placed on title when purchasing a property is extremely important.  Its good to review all of the options so that if  something happened you would be covered.  Think about it a bit like insurance, except this isn’t title insurance, this is more like which insurance policy you pick.  You have a few options; Joint Tenancy, in Severalty, or Tenants in Common are the most popular, if you will.  A few months ago we covered Joint Tenancy in…

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During the home buying process you should be asked if you want to get an ILC (Improvement Location Certificate) or Survey of the land. 

It always seems to shock people that this questions is asked by their Realtor, and understandably so. In fact, the state of Colorado finds an ILC or Survey so important that they have put an entire section in your contract to buy and sell real estate.  This is a good thing, its there to protect you.  The home you are trying to purchase may already have a fence up, and that seems like a logical indication of a property line: but is it accurate?  You are about to spend/borrow a substantial amount of money and the lender likes to be 100% sure that the property lines haven’t been impeded on.  

If you visit the City…

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Plus a few Staging Tips and Tricks-

If you are ready to put your home on the market, you already know that how it looks can make a significant difference in the sales price. If you don’t know how much the look of your home can affect your sales price then this is the blog for you!

Home staging is the process of preparing a your home for sale.  Wikipedia state that “the goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money. Staging techniques focus on improving a property's appeal by transforming it into a welcoming, attractive product that anyone might want.”

According to the 2018 National Association of Realtors News Release:

  • Forty percent of…

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