Home Appraisals

Home Appraisals and the Home Buyer

A home appraisal determines what a house is worth. This number is especially important when you're looking to purchase a particular house. Your lender will make a decision regarding the amount of your loan based on the appraisal value of the property. The appraiser not only takes into account the house in question, but similar homes sold in the area, as well as several other factors. The appraised value of a house can also help you with assessing taxes and estate planning when buying a home.

Due to the varying factors that go into an appraisal, there are cases when the appraised value of a house will differ, sometimes greatly with the asking price. When this occurs you may be suddenly held responsible for a greater down payment than origianally calculated. To protect yourself from this occurence, you should insist that the real estate contract includes a financing contingency. The contingency may include the opportunity to cancel the contract and get your earnest money refunded or state that the seller will reduce the price of the house to the appraised amount.

Working with a knowledge Real Estate Broker can make a huge difference when buying or selling your home and can help to protect your interests by using contingencies like this!

Call AJ or John Chamberlin, they can help you through the many details of buying or selling a home!

AJ: 303.588.8999 - or email - aj@chamberlinteam.com

John: 303.579.4455 - or email - john@chamberlinteam.com

Spring Maintenance Tips

Keeping your home in good working order means it will last longer, be more enjoyable - and worth more when you want to sell it!

Here are twelve suggested maintenance items which most homeowners should check annually:
1. Inspect your roof for leaks or other damage.
2. Repaint as needed.
3. Repair damaged grout and ceramic tile in bathrooms and kitchen areas.
4. Insure that all plumbing fixtures are working efficiently.
5. Caulk or weatherstrip around leaky windows and doors.
6. Keep your driveway in good condition.
7. Clean or replace furnance filters every 3 months.
8. Check batteries in smoke detectors.
9. Repair damaged decks or porches.
10. Prune trees and shrubs.
11. Look for damage from termites or other pests.
12. Maintain proper drainage away from your home's foundation.

Establishing a home maintenance schedule can keep you on top of these jobs. For instance, one month you can make sure your deck is sturdy, and the next month you'll look for roof leaks. However, be careful, when doing jobs you aren't used to - make sure to seek professional help, or even just another pair of hands, when needed.

Congressman Mark Udall Meet & Greet

Area REALTORS are invited to "Meet and Greet"

Congressman Mark Udall

April 17, 2006 from 11 a.m. to 12:30 p.m.

Back Country Brewery

Frisco, Colorado

It is beneficial for REALTORS to stay involved with their Congressional leaders. It is an opportunity to let them know what our concerns are and to develop a relationship with them. We have already captured the attention of Congressman Mark Udall, and he will be at the Back County Brewery to listen to your concerns and speak about issues in the real estate community. There is much to be concerned about these days. For example:

• The President's Advisory Panel on Federal Tax Reform recommends that the mortgage interest deduction maximum debt eligible for a tax credit would be limited to 125% of the median sales price for homes in their county. It would only be available on principal residences. The deduction would be eliminated for equity line mortgages! Any implementation of this reform may have a drastic negative affect on your income!
• NAR opposes legal rulings by the Office of the Comptroller of the Currency (OCC) to expand the ability of national banks to engage in real estate development and ownership and in merchant banking.
• 25% of REALTORS have no health insurance. Thus, NAR is pushing for association health plans.
• NAR supports increasing the current loan limits in high cost market areas to make available homeownership opportunities for first-time homeowners and minority homebuyers.

If real estate is your career then politics is your business!

The cost is free for the first 50 people to reserve, and includes a soup, salad & potato bar, with marinated chicken garnished with mango salsa. Let's show our Congressman we care and that we are a constituency that must be listenend to. Space is limited, so please RSVP as soon as possible.

To register, Call Sally Stoffel at (303) 415-3590, fax to (303) 449-8554, or email sally@chamberlinteam.com. Include: Name, Brokerage, Address, Phone # and email address.

This event is not a fundraiser, and contributions for Udall's re-election are not required for attendance. However, the Congressman will happily accept any voluntary contributions.

Organized by Colorado Association of Realtors; Federal Political Coordinator Members

Timing Your Decision To Sell

Because most sellers finance a new home purchase with the sale of their present home, they usually put their homes on the market before they begin their search for a new home. Learning the price you can expect from the sale of your present home often sets the pricing parameters for your new home search.
Obviously, it's not wise to wait until the sale of your property closes completely before beginning to look for your new home. Timing your search properly with the buyers' transaction can make the difference between having the available funds to buy a new home and cutting down on the interim period between homes.
In terms of supply and demand, historically the best months for home sale transactions have been March, April, May and June.
By beginning now, your home can be staged and ready for marketing during the prime selling months of 2006!
The Chamberlin Team can help you through the mirade of details to assure the best possible price for the sale of your home and help to make the sales transaction smooth and as effortless as possible.
Call or e-mail AJ or John for a free, no obligation CMA for your home. You'll be glad you did!
AJ: 303.588.8999
aj@chamberlinteam.com
John: 303.579.4455
john@chamberlinteam.com

Mortgage Rates on the Rise

Mortgage rates have climbed and are expected to climb at a slow rate over the next several months with the retirement of Alan Greenspan. If you are considering selling your current home and buying a new home, it is advisable to lock in your rate as soon as possible to assure the best possible interest rate on a new loan or refinancing an existing loan. Knowing your credit score and upgrading your credit history are also important aspects of obtaining the most favorable mortgage rates. The first step in the process is making sure that you have a current copy of your credit report. Congress recently amended the Fair Credit Reporting Act so that consumers may now receive one free credit report annually.
Go too ww.annualcreditreport.com to request your free copy for 2006.

Making Your Home More Saleable

The National Association of Realtors suggests that sellers spend as little as possible on pre-sale repairs and improvements. For example, while new tile might really spark up your kitchen, potential buyers probably won't increase their purchase offers enough to compensate your expense. Instead, focus on the small, relatively inexpensive touch-ups that will give your home a polished, well-maintained appearance. Before you put your home on the market, take an impartial look at your property, inside and out. You may have only one chance to pique potential buyers' interest when they view your home, so don't let easily correctable flaws stand in the way. The Chamberlin Team can assist you with "staging" your property to help make your house stand out to buyers and to enhance your home's salablility.

Boulder Real Estate Market Trends

Investing in real estate is being recognized as a more solid and lucrative investment each year by investment analyzers.
IN 2005

• Residential sales increased by 11.8%
• Attached dwellings increased by 4.3%
• And, income property increased by 8.3%

DAYS ON MARKET

• MLS-Wide was 108
• Chamberlin Team DOM listed properties was 66, which on the average, is 42 days less than the rest of the market!

DAYS TO OFFER

• MLS-Wide DTO was 87
• Chamberlin Team DTO was 49, nearly 50% quicker than the market!

DAYS TO SOLD

• MLS-Wide DTS was 134
• Chamberlin Team DTS was 83.5 on listed properties, 38% quicker than the rest of the market!

When you work with Aj and John Chamberlin, you benefit from two professionals who are both dedicated to your needs and both know what it takes to create excellent results!

Thinking of Selling Your Home?

You've probably already considered your personal reasons for selling your home. Now you need to take into account the other factors involved, such as market conditions, your property's value and tax implications.
There's a rule of thumb to keep in mind when deciding to sell your home: Your home is only worth what a qualified buyer is willing to pay at the time it's on the market.
The current real estate market fluctuates based on supply and demand, interest rates, general economic conditions, and demand, interest rates, and other factors. The same house may sell for more or less under a different economy.
The Chamberlin Team can inform you of the going price for homes in your area at the current time; this data is included in a comparative market analysis (CMA), prepared exclusively for the marketing of your home.
Like finding the right house, selecting a REALTOR you can trust and comfortably work with is paramount. When you work with AJ and John Chamberlin, you benefit from two professionals who are both dedicated to your needs and both know what it takes to create excellent results.

AJ Chamberlin
Broker Associate
ABR CRS FPC GRI

John Chamberlin
Broker Associate
ABR E-PRO CRS GRI

AJ and John Chamberlin

Welcome! We've started this blog in conjunction with updating our web site, http://www.chamberlinteam.com. We were looking for a way to easily post information for potential and returning clients to read and comment on. A blog was suggested because readers can make public comments or email us, and we can easily create posts.

We plan to provide readers with information of real estate, the arts, schools, restaurants, recreation, and social issues in Boulder and the surrounding communities. After living in the area for over 20 years, we've seen significant changes and trends in all of Boulder County. Being active in the communities where we work with clients to buy and sell real estate, we can provide you with a true insiders view of life here. We would love to hear your views or be able to answer questions you have about the area. We understand there are many considerations when buying a new home. We also know everyone is different. So, you may also see posts here by others to give you a different perspective.

Come back often to get to know both of us and get a feel for Boulder and surrounding area!

Two Unique Personalities, One Powerful Combination.