Yea, Good News! The rates have dropped. According to Kevin Bent at www.kevinbent.com, rates are lowered to 6% with approved credit. Yea!!

So how does this impact you? If you are a new buyer this allows you almost $20,000 more buying ability or $60.00-$70.00 a month difference. There is an abundance of inventory to pick from and now you can get an even lower payment on already low priced homes.

If you are a homeowner and have 1st and 2nd mortgage financing, this might be your window to refinance. Contact Kevin at Cherrywood Loans at 719-380-5057 and inquire how these rates will help you.

If you are a seller, this rate drop may increase activity. Of course, the price needs to be sharp on your home and you need to be ready for all showings with this announcement and this should be a good step forward.

In summary, the Federal Reserve and government are listening. We have a long way to go to clean up the excess inventory. Please contact me at www.maecker.com or email me at theteam@maecker.com with any questions.

Thank You,
Brian

A funny thing happened yesterday that I thought I would expand on. In my efforts of doing the real estate business sometimes I catch myself not recognizing life’s beauty and simple pleasures. Yesterday was one of those days.

I got to play golf at the Sanctuary Golf Course. This golf course is owned by Dave Linneger of RE/MAX International. It is recognized in Golf Magazine and Golf Digest as a Top 100 course. Why am I talking golf instead of real estate?

It’s a simple lesson for all of us. I am guilty of worrying about the real estate market. I am guilty of thinking about the foreclosure market. I wonder how Countrywide, Wells Fargo, Chase and other mortgage companies are going to service my loans. I caught myself in worry instead of being grateful for what I do have.

I think the entire United States would be better off if we all have positive grateful thoughts. Many of us have houses that we can pay for. Many of us live in places where we want to live. Yesterday, in Colorado, I got to enjoy nature’s gifts of trees, rock formations and mountains. It even rained and the lightning and thunder was as beautiful as was the rainbow afterward.

Let’s start the Colorado Springs Housing market with positive thought. Recognize some profit is better than none. In case of loss, it’s better to cut the losses and move on. In buying recognize the great opportunities. Enjoy life for what it gives you. Don’t be sour on what you don’t have but be grateful for what you do have. For most of us, it’s more that we can count.

Thanks,
Brian
www.maecker.com

What is a cost inspection? Is it the same as an appraisal? Why should I do one? How much does it cost? All good questions. I hope you will understand why inspecting a home is so important.

A property inspection is different than an appraisal. An appraisal determines value, an inspection determines condition. In Colorado Springs, a good inspector spends 2-3 hours testing the home. The inspector inspects the roof, the insulation, the siding and all the mechanical systems within a home. For additional fees an inspector will also test for radon, mold and lead. Often times they find issues that cost lots of money. I recommend to sellers to pre-inspect their homes so they are aware of any issues. That way they can fix the problems before it’s an issue with the buyer. We insist that all buyers get an inspection.

The costs for inspections in El Paso County vary from $300-$500 depending on the size of the home. Radon, mold and lead tests are an additional $75-$200. Should an engineer be needed to conduct a structural inspection, the fee is $400-$500.

All in all, the price of an inspection is much less expensive than buying a home full of defects. On average, in Colorado Springs, repairs are $1500-$2000. As you can see a $400 inspection is a good investment.

For a list of good inspectors, please call us at The Brian Maecker Team. We have a list of bonded and insured inspections. It will be our pleasure to serve you. Just call us at 1-888-593-2963 or email us at theteam@maecker.com.  

Thanks,
Brian