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Bad things happen to good people!

by Team Cook

Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life's most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most people cannot be 100% sure that they will remain safe from foreclosure because they can't foresee the unexpected. Occurrences such as serious illness, a major accident, divorce or job loss can happen to anyone. So it's a good idea to understand the available alternatives should the worst occur.

Of all available options, foreclosure is the worst.
The inevitable result of a foreclosure is the lender taking your house. Not only will you lose your house, but the lender can get a judgment against you for the arrearages you owe plus his costs for the foreclosure action. If that isn't enough, your credit report will be in terminal condition for many years to come, worsening an already bad financial situation and making it very difficult to obtain any other kind of credit. There is no upside to foreclosure. It should be avoided at all costs.

Consider a short sale when foreclosure seems inevitable
A short sale is a popular, NO COST, option for homeowners mired down with financial problems. In this case, you would sell your home for less than what you owe your lender; the biggest problem you will face is getting your lender to agree to a short sale. In many situations, they will not. Experts advise pursuing this option the minute you realize that you are falling behind in your payments and most likely won't be able to catch up. The longer you wait and the greater the amount you are in arrears, the less likely it becomes that your lender will even be willing to discuss a short sale.

At its best, a short sale can be a win-win for both parties. For the seller, a short sale provides the opportunity to avoid foreclosure and the dreaded implications that a foreclosure brings, in addition to being able to return to home ownership sooner; alternately, the lender receives most of the value of the loan sooner, and avoids incurring additional legal or carrying costs while the foreclosure process plays out, which can sometimes even take years. And, frankly, short sales are great options for savvy buyers.

Almost any option is better than foreclosure
Simply stated, do everything you can before foreclosure occurs and do it as quickly as humanly possible. Don't sit back and keep thinking, "What can I do?" Instead, consider that short sale before your options become more limited.

The One Best Tip I Can Give You: Don't Do This Alone
Connect with a Certified Distressed Property Expert and work with someone who has the knowledge and experience to save you from foreclosure and get the deal done. All consultations are discreet and held in strict confidence, NO information is shared.

Team Cook has the knowledge & experience to save you from foreclosure and get the deal done. We are Certified Distressed Property & Short Sale Experts!

Please visit: www.coloradoshortsaleexperts.com or call 800-571-6616

Team Cook you're my HERO'S!

by Randy Lindstrom

Team Cook you're my HERO'S! (Wish I would have listed with you 2 years earlier)

I had my house on the market for two years (5/07 - 4/09) listed with different agents of course! With the economy the way it is, I lost my job and had other family crisis's going on at the same time. I spoke with Kevin about a short sale. Best decision I have made in many years! I was able to concentrate on my family issues while they handled the sale of my home. One less concern for me. I would recommend this team to everyone. They are true professionals, their communication is superb. They kept me informed of the progress from the beginning to the end when it finally sold. And thank you Rose for staying on those mortgage companies.

One very happy client,

Randy Lindstrom

Thompson School District Map

by Team Cook

CLICK HERE TO VIEW A MAP OF THE THOMPSON SCHOOL DISTRICT BOUNDARIES!

Vital Information for First-Time Buyers!

by Team Cook

Vital Information for First-Time Buyers!


 The first-time homebuyer Federal tax credit for $8000, record-low interest rates, and nationwide median home prices dropping to the lowest point in five years, makes this an enticing time to consider buying a home. By the way, that tax incentive isn't truly just for first-time buyers -- it's defined as those not having owned a home in the last three years. Research and knowing your options are critical. Check with your tax accountant for more details. It’s increasingly likely that Congress will extend and expand the popular home buyer tax credit, which will expire at the end of this month.

According to an article in August in the Raleigh News & Observer, 10.8 percent of buyers are motivated to buy due to Federal and state tax incentives. So far only 1.14 million buyers have filed for the credit but many more are expected to file for it on their 2010 returns. However, the National Association of Realtors reports that the first-time homebuyer figure in July was still about 10 percent below the average for the past six years.

There are many aspects to consider when buying your first home. Your price point, location, lifestyle, expert help, mortgage programs, inspections, how quickly you want/need to move, the list goes on. It can seem like an overwhelming process for first-time buyers. In fact, some shy away and continue to rent simply because they don't know who to turn to or where to begin. Today there are more resources than ever available with just the click of a mouse; however, that can create information overload! But if you take a breath and relax, I'll sort through some important factors for home buying. And even if you're a seller, it's good to review this material because it helps to remind you where first-time buyers' mindsets are when they make an offer on your home.

Give yourself more time than you think you need. Due to the housing crisis and credit crunch, the mortgage process can take even longer than it did previously. Searching for a home is averaging about 12 weeks while getting the mortgage process wrapped up can take up to 60 days, according to information released by National Association of REALTORS 2008 Profile of Buyers and Sellers.

Give yourself plenty of time to understand how much home you can afford, what kind of loan is most suitable for your needs, and, of course, plenty of time to select the home that fits your lifestyle. First-time homebuyers often don't have a lot of comparison shopping experience. Frequently they're just getting started. What is acceptable for a rental is likely different from what first-time buyers expect and accept when purchasing their first home. However, first-time buyers must understand that shopping for a home is akin to shopping for a mate... there are always some compromises that are necessary. If you don't allow enough time, you'll find that it will lead to headaches, rushed decisions, and, in the end, you may feel pressured to buy something that you have not had enough time to completely consider—maybe because you have to relocate and start your job.

Never skip an inspection. You simply can't spot everything that could be wrong with the home. While not all sellers do it, some hire an inspector to inspect the home when they list it on the market. However, the burden of the inspection typically falls on the buyer to pay for it. And the information you receive is invaluable. Hiring a certified inspector to give the home a once-over will help you discover problem areas that your agent can then negotiate for repair work or price adjustment. Also, note that the home inspections (yours and the sellers) may differ; examine both, this way you'll learn more about your potential home.

Frank Schulte-Ladbeck, a licensed home inspector says that when you get your home inspection be certain to have everything turned on. In one case, "The water valve to the house was turned to almost off. When you turned it on to regular pressure... the seller had water spurting out of almost all of the faucets because all of the O-rings, the seals, had all dried so much that they were just allowing water to spill right out of them," said Schulte-Ladbeck.

Use experts to help prepare. Having a team of experts who can expedite your search by finding the most suitable properties for you will save you endless hours of looking. Also, the right mortgage expert simplifies the loan process. You'll be guided through the home-buying process instead of becoming overwhelmed by the options, paperwork, and tasks. Using the best specialists can truly make buying your first home a wonderful experience.

Written by Phoebe Chongchua

If you are a first-time home buyer, call Team Cook today!

Weekly Market Conditions!

by Team Cook

Weekly Market Conditions!

November 10, 2009

Berthoud - The number of homes on the market as of 11/10/09 is 124.
The Average Days on Market as of 11/10/09 is 163

Ft. Collins - The number of homes on the market as of 11/10/09 is 1361
The Average Days on Market as of 11/10/09 is 106.

Johnstown - The number of homes on the market as of 11/10/2009 is 113.
The Average Days of Market as of 11/10/09 is 109.

Loveland - The number of homes on the market as of 11/10/09 is 821.
The Average Days on Market as of 11/10/09 is 115.

Larimer County - The number of homes on the market in Larimer County as of 11/10/2009 is 3173.
The average days on market for Larimer County as of 11/10/2009 is 119.

October 2009 DID YOU KNOW???

by Team Cook

Did you know???

  • A recent analysis of locally owned homes between 910 and 1,149 square feet appreciated 4.5 percent. Homes between 2160 and 2,874 square feet lost 5 percent of their value and homes with more than 2,875 square feet fell 10.45 percent.  

 

  • Jeff Thredgold, an economist for Vectra Bank Colorado. Emphatically, Thredgold said "The Great Recession' is no more. It's over, finished, kaput!"

 

  • Lawrence Yun, the NAR's Chief economist, said the housing market "has decisively turned for the better."

 

  • According to the Commerce Department, bookings for durable goods in July climbed 4.9 percent, which exceeds the forecasts as well as achieves the largest gain since July of 2007.

 

  • According to the American Institute of Economic Research, Fort Collins ranked among the top small college cities in the United States. In its "College Destinations Index 2009-2010," the AIER evaluated categories such as academic environment, quality of life and professional opportunities.

 

Weekly Market Conditions!

by Team Cook

Weekly Market Conditions!

October 22, 2009

Berthoud - The number of homes on the market as of 10/22/09 is 131.
The Average Days on Market as of 10/22/09 is 162

Ft. Collins - The number of homes on the market as of 10/22/09 is 1469
The Average Days on Market as of 10/22/09 is 106.

Johnstown - The number of homes on the market as of 10/22/2009 is 124.
The Average Days of Market as of 10/22/09 is 110.

Loveland - The number of homes on the market as of 10/22/09 is 852.
The Average Days on Market as of 10/22/09 is 116.

Larimer County - The number of homes on the market in Larimer County as of 10/22/2009 is 3374.
The average days on market for Larimer County as of 10/22/2009 is 119.

Weekly Market Conditions!

by Team Cook

WEEKLY MARKET CONDITIONS!

OCTOBER 14, 2009

BERTHOUD - The number of homes on the market as of 10/14/09 is 129.
The Average Days on Market as of 10/14/09 is 162

LOVELAND - The number of homes on the market as of 10/14/09 is 847.
The Average Days on Market as of 10/14/09 is 116.

FT. COLLINS - The number of homes on the market as of 10/14/09 is 1499
The Average Days on Market as of 10/14/09 is 106.

JOHNSTOWN - The number of homes on the market as of 10/14/2009 is 122.
The Average Days of Market as of 10/14/09 is 109.

LARIMER COUNTY - The number of homes on the market in Larimer County as of 10/14/2009 is 3400.
The average days on market for Larimer County as of 10/14/2009 is 119.

Check out Thomson School District CSAP Reports for 2009!

by Team Cook
 
 
 
 
 
Cottonwood Plains Elementary
Loveland, Colorado
http://www.reporterherald.com/webextra/csap/elem_school.asp?ID=1920
 
 
 
 
Laurene Edmondson Elementary
Loveland, Colorado
http://www.reporterherald.com/webextra/csap/elem_school.asp?ID=5018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Thompson Valley High School
Loveland, Colorado
http://www.reporterherald.com/webextra/csap/high_school.asp?ID=8824
 
The statewide ACT scores also were released. Here is a list of the 2009 average composite scores:
 
Berthoud High School: 21.13
 
Loveland High School: 20.63
 
Ferguson High School: 14.49
 
Mountain View High School: 19.42
 
Thompson Valley High School: 20.47
 
District: 20.17
 
State: 19.6

Possible Homebuyer Tax Credit Extension!

by Team Cook

The current deadline for first-time homebuyers to take advantage of the $8000. tax credit is November 30th of 2009.

Team Cook has had several happy customers who have taken advantage of the tax credit and purchased their first home in the Loveland, Berthoud, Ft. Collins, Johnstown, Greeley and Longmont areas.

A group of home builders has gone to Congress and asked that the tax credit be extended for another year, as well as asking the credit to include those who also may be buying their second or third home.

Should this extension pass they are predicting this would help the economic recovery by creating an additional 350,000 jobs with new & existing homes.

"Housing historically has been a key factor in helping the economy pull out of a recession," says Bernard Markstein, senior economist for the NAHB. "Extending the credit will help reduce the supply of houses for sale, stabilize prices and return housing to its rightful place in the economy."

As of today the tax credit has not been extended which means we still have to work under the November 30th deadline.  If you are a first-time homebuyer or have not purchased a home in the last 3 years, you still have time to take advantage of receiving $8,000! 

Call Team Cook so we can help you purchase today...before it's gone tomorrow! 970-532-2695!

Displaying blog entries 31-40 of 40

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Team Cook Real Estate Services
The Cottage Realty Ltd.
908 Mountain Avenue
Berthoud CO 80513
970-532-2695
Fax: 970-532-2699

"I have truly heard and seen first-hand that Cottage Realty is wonderful, exemplary, and a real asset to the economy of Northern Colorado. I will definitely keep Cottage Realty in mind as my first choice if and when I have real estate needs in the future. Again, thank you so much. I will also refer you to friends and family who need your services. Sincerely...Stacy"