Colorado Resorts Real Estate Video Blog with Kevin and Amy Smits

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A Simple Trick to Take 8 Years Off Your Mortgage

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call me at (970) 418-0183 for a FREE home buying or selling consultation

We’ve got an especially helpful tip for homeowners today. For those of you with a 30-year mortgage, listen to this.

If you just make one extra payment per year on your mortgage, it will reduce the length of your loan from 30 years to 22 years. Interest rates are at an all-time low, so now is a great time to buy. The Federal Reserve is likely to raise them soon, so it is in your best interest to act sooner rather than later.

As interest rates go up, prices will start to stabilize. If you’d like to learn about how this will affect your individual situation, give us a call or send us an email. We would be happy to put you in touch with one of our lenders.

Oh, and a quick reminder, we have a great 4th of July party coming up in Frisco. Stop by and enjoy the parade! Next month, we’ll talk about all different kinds of investment property.

We look forward to seeing you then!

Is it Too Late to List Your Home?

Is it too late to list your home? As we're heading into fall, most of you know that we sell a lot of homes over this next month, and then the market slows down. People take their homes off the market and put them into a rental pool, thinking they can net more money in the spring.

However, we do not have many properties on the market right now. We only have 850 properties listed. In 2007, we had about 4,000 homes on the market at this time.

If you're thinking about selling, you need to know that we are in a solid seller's market right now. There are a lot of buyers looking for homes, and if you list now, you could get some multiple offers.

We know that a lot of you may have your homes in a rental pool. We know how to work with the rental companies to show your property.

This is the time when people look forward to snow. They are planning vacations to Summit County and Vail for the winter. The buyers out there are serious, whether they are looking to buy or rent.

Overall, now is a great time to consider selling your home. If you have any questions about listing, give us a call or send us an email. We look forward to hearing from you!

What's the Difference Between Pre-Qualification and Pre-Approval?

Today we'll discuss the difference between a pre-qualification letter and a pre-approval letter.

A pre-qualification letter is very easy to attain. You simply call a lender and tell them your name, address, social security number, and how much money you think you have. The lender runs a credit report, and then, based on just that small amount of information, they type up a letter saying that you are pre-qualified.

In order to get a pre-approval letter, you have to go through a real process. You provide your taxes, paystubs, and bank statements, and they run a credit report. When we send a pre-approval to a seller, they know that the lender is sure that you are truly approved to buy a home.

In our current market, we're starting to see multiple offers and a lot more competition. Having a pre-approval letter puts you far ahead of other buyers who only have pre-qualification letters.

We do ask our clients to get pre-approval letters while we're out looking at properties. That way, when we find you the right home, we know that we are ready to put in a strong offer.

Whether you're getting a pre-qualification or pre-approval letter, it is typical that you would pay for the credit report. However, this is the only cost to our buyers.

If you would like to get a pre-approval letter before looking at properties, give us a call for a list of our preferred lenders.

What's Happening in Summit County & Vail?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call our team at (970) 333-3029 for a FREE home buying or selling consultation

Hey everybody, thanks for joining us today for a market update on the latest news for the Summit County & Vail real estate markets. Right now, our market is extremely unique. It's more of a seller's market because of our lack of inventory (just 700 homes on the market). When buyers come to Summit County and Vail they don't have a lot to look at, which is great news for sellers thinking about putting their homes on the market. The best homes can get a little more money from buyers than they could last year.

The price point finally went up this last quarter, and most homes saw at least a 10% increase in home values. This is another great sign for sellers, but also a warning sign for buyers not to wait too long to purchase before homes get too expensive.

When July 1 comes, our inventory will double. We could have up to 4,000 homes on the market at some point in the summer, which is when we do about 65% of our business. The longer you wait, the more competition you will have to deal with.

If you are thinking of selling, conditions are perfect. Sellers are even receiving multiple offers. If you're thinking of buying, taking advantage of our historically low interest rates will save you thousands of dollars over the life of your loan.

If you have any other questions for us, feel free to give us a call or send us an email. We will talk to you soon!

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