Ten Peaks Sotheby's International Realty Blog

What to Expect from a Real Estate Professional

You should expect:

• To be treated as a respectable client, not transaction #37.
• To have your best interests represented.
• To be served selflessly - your agent shouldn't be eying your wallet.
• Your agent to work as hard for you as they would if they were buying their own house.
• The highest skills available.
• Your calls to be returned promptly, and to be kept up to date.
• Your agent to go above and beyond what's expected when dealing with problems that may arise.
• Your agent to be a trusted adviser that you can consult even when the transaction is complete.

Most importantly, rely on your instincts to help you determine which agent is right for you. Deciding on the right person will be based on who has suitable credentials, who's most responsive to your needs and who you feel you can work with. Once your criteria is met, then you have found an agent who will help you find a home at the most reasonable price and with little difficulty.

Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

The Role of the Title Company

Now that you've decided to buy a home, what happens between now and the time you legally own it? The next step is to obtain title for the property from the title company. A title gives the owner the right to possess and use the property. But before receiving title, the title company will need to complete the following:

Earnest money: To show the seller and his agent you are a serious buyer, you will be asked to give the title company a deposit called earnest money. If the sale goes through, the earnest money is applied toward the down payment. If the sale falls through, the earnest money will not be given back unless it is stated in the offer to purchase that it is refundable.

Title search: A title search is a thorough check of the records concerning the property. It is performed to verify the seller's right to change ownership. A title search will uncover any demands, faults and other privileges or restrictions on the property.

Document preparation: Appropriate forms are prepared for settlement.

Settlement: Many events happen during settlement; the seller signs the deed, the buyer signs the new mortgage, the old loan is paid off and the new loan is established. The seller, real estate professionals, attorneys, surveyors and others performing services for the parties are paid. Title insurance policies are then delivered to the buyer and their lender.

Why do I need title insurance?

Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.

Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.

How does title insurance differ from other types of insurance?

Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults.

Another difference is that you pay a one-time premium. A title insurance policy will protect you from risks" or undiscovered interests.

There are two principal forms of title insurance:

1. The lender's policy
2. The homeowner's policy

What is a lender's policy?

A lender's policy protects the mortgage holder. If there is a fault in title that results in a loss, the mortgage holder will be paid back.

What is a homeowner's policy?

A homeowner's policy protects you, the purchaser, against a loss that may occur from a fault in your ownership or interest you have in the property. You should protect the equity in your new home with a title policy.

What does a homeowner's policy provide?

Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy.
Payment of legal costs if the title insurer has to defend your title against a covered claim.
Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.

What "hidden risks" are protected under a title policy?

• False impersonation of the true owner of the property by the seller or other persons previously in title
• Forged deeds, releases and other documents
• Deeds by persons of unsound mind
• Deeds by minors
• Invalid documents completed by an expired attorney
• Invalid deeds delivered after the death of the grantor
• Deeds by supposedly single persons but actually married
• Fraud
• Claims for unpaid estate inheritance and gift taxes against prior owners of your home
• Unrecorded easements - giving one party the right to enter another party's property
• Undisclosed descendants of former owners of your home or the land on which it is situated

How long does my coverage last?

Once purchased, title insurance remains in effect for as long as you own your property. Title insurance adds security and peace of mind to home ownership.

How do I obtain title insurance and what does it cost?

Let the title company, attorney or agent handling the closing of your property know that you want to purchase an Owner's Title Insurance Policy. When choosing a title insurer, you should look for a company with experience, as well as the financial strength to protect you.

In most states, the insurance commission or some other governmental body controls the premiums for title insurance policies. You only pay the premium once. The cost depends upon the purchase price of the property, and your policy amount must be equal to the purchase price.

Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Closing on a Home

There is no way to guarantee a smooth path from an approved contract to the settlement table, but doing your part is at least half the job. Expect minor problems and delays along the way. On the seller's side, title problems are a common cause of postponed settlements. On your side, bureaucratic snags such as extensive credit checks and slow appraisals can bog things down. In many cases, there isn't much you or the seller can do but wait.

While you're waiting for completion of all the processes now in motion, you should:

Apply for homeowners insurance on your new home.

Get an exact accounting settlement cost, and make sure the money and necessary documents will be there at closing.

Select a date for the final walk-through of the house.

Contact utility companies about starting service in your name.

Insurance on your new home
Your lender will require you to take out a homeowners insurance policy, something you would want to do anyway. The lender wants to cover the amount of its mortgage loan so it can recover the money in the event of a loss. However, it's up to you to see that your insurance coverage remains adequate by getting property protection, liability insurance and/or any additional coverage you think is necessary.

The final inspection
The house you're buying must be handed over to you in the condition specified in the contract. To verify this, schedule a walk-through of the house shortly before settlement, several days in advance is best, to allow time for the seller to correct any last-minute problems.

Take along a simple device for testing all electrical outlets - a plug-in nightlight, for example. Turn on the furnace and air conditioning, flush toilets and turn on faucets, put the washing machine and dryer through a cycle. In short, put the house through its paces.

If anything needs fixing or further cleaning, tell the seller immediately. Neither you nor the seller wants to postpone the settlement, but make it clear you won't go to closing until a second walk-through is satisfactory.

What happens at closing
The closing is where ownership of the home is officially transferred from the seller to you. Your closing officer works for the title company and coordinates the document signing and the collection and disbursement of funds. Your main role at the closing is to review and sign the documents related to the mortgage loan and to pay the closing costs.

Most parties involved with the purchase of your new home will attend your closing. The closing is a formal meeting typically attended by the buyer(s) and the seller(s) (and their attorneys if they have one), both real estate sales professionals, and, of course, the closing officer. The meeting is held at the title company's office.

What to bring to closing
For things to go smoothly, each party should bring certain documents and be prepared to pay the necessary fees. Many closing costs can be paid by personal check, but ask the closing attorney or closing officer. A certified or cashier's check may be required; find out to whom checks should be made payable.

The seller and his attorney are responsible for preparing and bringing the deed and the most recent property-tax bill. They also will bring other documents required by the contract. This can include the property insurance policy, termite inspection, documents showing the removal of liens, and a bill of sale for personal property.

Make sure you have adequate funds in your checking account for the down payment and other settlement costs, arrange for your attorney to represent your interests at the meeting, bring the loan commitment, inform the lender of the meeting time and place and have your driver's license ready as proof of identity. Finally, it's a good idea to bring a copy of the purchase contract to refresh your memory.

Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Tips to Help Sell Your Home

Make the Most of that First Impression

A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted - or at least freshly scrubbed - front door. If it's autumn, rake the leaves. If it's winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.

Invest a Few Hours for Future Dividends

Here's your chance to clean up in real estate. Clean up in the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. Prospects would rather see how great your home really looks than hear how great it could look, "with a little work."

Check Faucets and Bulbs

Dripping water rattles the nerves, discolors sinks and suggests faulty or worn-out plumbing. Burned out bulbs leave prospects in the dark. Don't let little problems detract from what's right with your home.

Don't Shut Out a Sale

If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect's mind. Don't try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.

Think Safety

Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.

Make Room for Space

Remember, potential buyers are looking for more than just comfortable living space. They're looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.

Consider Your Closets

The better organized a closet, the larger it appears. Now's the time to box up those unwanted clothes and donate them to charity.

Make Your Bathrooms Sparkle

Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats and shower curtains.

Create Dream Bedrooms

Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.

Open up in the Daytime

Let the sunshine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.

Lighten up at Night

Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.

Avoid Crowd Scenes

Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.

Watch Your Pets

Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.

Think Volume

Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.

Relax

Be friendly, but don't try to force conversation. Prospects want to view your home with a minimum of distraction.

Don't Apologize

No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your agent handle the situation.

Don't Turn Your Home into a Second-Hand Store

When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.

Defer to Experience

When prospects want to talk price, terms, or other real estate matters, let them speak to an expert at Ten Peaks Sotheby's International Realty 970.453.0550.

Help Your Agent

Ten Peaks Sotheby's International Realty will have an easier time selling your home if showings are scheduled through his or her office. You'll appreciate the results!

Choosing a Lender

Despite an excess of loans and lenders, comparison shopping has been eased by the development of computer-loan origination systems and mortgage-reporting services - firms that survey major lenders in metropolitan areas every week or so and publish information sheets on who is offering what loans on what terms.

Shop for lenders offering the best deals. Check with several mortgage companies and use one or more reporting services. Rely on your own efforts, lots of telephone calls and possibly some old-fashioned legwork. If there isn't a reporting service covering your area, begin the search at your own bank or savings and loan.

Sources of Mortgage Money:

Independent Mortgage Companies make just over half of all home mortgages, including most VA-guaranteed and FHA-insured loans.

Savings Institutions: Savings and loan associations and savings banks originate close to a quarter of home mortgages. Most are conventional loans - those not guaranteed by the VA or FmHA, or insured by the FHA.

Commercial Banks are active in residential lending. Banks also are a major supplier of loans for mobile-home buyers.

Mortgage Brokers act as intermediaries. A broker keeps tabs on the mortgage market through ties to local, regional and national lenders, and can refer a prospective borrower to a mortgage banker, savings institution or a commercial bank. Brokers don't lend money and can't approve loans.

Credit Unions make close to one-third of all first-mortgage loans, but you must be a member.

Public Agencies: State and local finance agencies make below-market-rate financing available to eligible low- and moderate-income first-time buyers through the sale of tax-exempt bonds.

Employers and Unions: Don't overlook your employer as a source of assistance. An employer may subsidize the interest or even act as a lender. Unions are another possibility. The AFL-CIO offers what it calls "Union Privilege." Unions that sign on can make first-time home loans available to eligible members for as little as three percent down.

Are You Ready to Buy?

Now it is time for you to look deep into your heart (and bank account) and decide if you are ready to buy a home. Finding your motivation and specifying your wants and needs is a good beginning, but there are other things to consider before taking the leap into home ownership.

What's your financial situation?
What's your debt load? Credit cards, utilities, car payments, childcare and groceries are factors to consider. Don't forget the money for a broken air conditioning unit will be coming out of your pocket. Will you be able to handle unforeseen emergencies, monthly bills and a mortgage payment? As a rule of thumb, no more than 28 percent of your gross monthly income should be used for housing payments.

How's your credit history? Delinquent credit card and bank payments, past bankruptcies or a student loan that's unpaid can severely affect your ability to get a mortgage loan. For a small fee you can obtain a credit report on yourself and clear up any misunderstandings before applying for a loan.

Credit Unions:
Experian 1-888-EXPERIAN (397-3742)
Equifax 1-800-997-2493
Trans Union 1-216-779-2378

What's your employment history?
If you have been working continuously for the past two years, a lender should consider this to be steady employment. This does not mean that to be approved for a mortgage loan you need to have worked at the same place for two years; in fact, job changes can be favorable, especially for an increase in pay.

However, if your work history has not been continuous for the last two years, as long as you have a reasonable explanation for any breaks in employment, you still may qualify for a loan.

Have you saved money for a down payment and closing costs?
In addition to the amount of money you will have to borrow for your home, the lender will require you to invest, in cash, around five to twenty percent of the purchase price toward the loan. If you are looking at a $100,000 home, a ten percent down payment would be $10,000.

Closing costs are additional expenses incurred throughout the buying process that must be paid for in cash, like attorney and inspection fees, escrow charges and document fees. Closing costs are typically five percent of the purchase price of your home, so add another $5,000 to your $100,000 home.

Please contact any of the experienced real estate agents at Ten Peaks Sothebys International Realty to help you find the perfect mountain property!

Positive Future for Copper Mountain Colorado

 Copper Mountain Ski Resort has always be a great place to ski in Colorado. Located almost exactly between Breckenridge and Vail ski resorts, Copper Mountain sometimes over looked. Main reason is the competitive season passes. Most people get the Summit, Colorado or Epic pass which gives you access to Vail, Breck, Keystone, and A-Basin. Copper's pass is a great season pass for Copper and also has privileges at Winter Park and Steamboat Springs. Copper has one of the best skiing and snowboarding terrains in the country! With over 2450 acres, 22 chair lifts that take you to over 126 trails and an average of over 300 inches of snow per year, it truly is a great ski destination!

Copper Mountain was recently sold to Powdr Corp from Intrawest. Most people agree that this is going to be a great thing for Copper Mountain. Check out this link for more details but the top 5 reason this is a great sale are:

1. Intrawest go too big for its britches

2. Powdr Corp will be more Environmentally Friendly!

3. Shaking up the Local Season Pass!

4. Star Athlete Rooster

5. Powdr Corp is all-about Mountain Lifestyle!

http://blogs.westword.com/ontheedge/2009/11/5_reasons_the_copper_mountain.php

If you are interested in purchasing at Copper Mountain please feel free to contact any of the locally experienced agents ate Ten Peaks Sotheby's International Realty to help you with all your real estate needs.

Originally Created at: http://tenpeakssothebysrealty.com/real_estate_blog/view/2993/positive_future_for_copper_mountain_colorado_

Breckenridge Real Estate in Breckenridge, Colorado - Highlands at Breckenridge Golf Course

The Highlands at Breckenridge is of the most prestigious areas in Breckenridge to live. Highlands at Breckenridge Golf Course neighborhood has some the most breathtaking views of the Ten Mile Range and Breckenridge Golf Club! Only minutes to Historic Downtown Breckenridge and Breckenridge Ski Resort. Owning here truly means "You Have Arrived"!

When you live in The Highlands at Breckenridge there is a sense of awe. The Highlands at Breckenridge is the premier mountain community in Breckenridge, Colorado. The alluring mountain vistas, these luxury homes and lots enjoy access to wetlands, open spaces, world-class golf, wooded parks and historic flume trails for the year-round pleasure of hikers, bikers, golfers and cross country skiers. The Highlands at Breckenridge takes full advantage of Breckenridge town services and amenities, including water, sewer, underground utilities and paved roadways.

Breckenridge Colorado maintains the feel of a historic mining town while offering resort-like amenities and breathtaking real estate opportunities designed by nature to fit every lifestyle. More than 4,000 people call Breckenridge home even though thousands more visit the region to ski, snowboard and enjoy other winter activities. Other pastimes such as hiking, biking and golfing are popular with amateurs and experts alike during the gorgeous summer months.

Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Homes for Sale, Breckenridge Real Estate - Woodmoor at Breckenridge

It is all about the VIEWS in the Woodmoor at Breckenridge neighborhood! From almost anywhere in Woodmoor you have amazing views of the entire Ten Mile Range. Whether you are looking from a single family home, duplex, townhome, or acreage to build your own property, Woodmoor at Breckenridge offers you everything you need to enjoy the beauty of Breckenridge. You are close enough to town for all your everyday needs and just far enough way to enjoy the magnificent vistas.

Breckenridge Colorado maintains the feel of a historic mining town while offering resort-like amenities and breathtaking real estate opportunities designed by nature to fit every lifestyle. More than 4,000 people call Breckenridge home even though thousands more visit the region to ski, snowboard and enjoy other winter activities. Other pastimes such as hiking, biking and golfing are popular with amateurs and experts alike during the gorgeous summer months.

Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Originally Created at: http://tenpeakssothebysrealty.com/real_estate_blog/view/2990/homes_for_sale__breckenridge_real_estate___woodmoor_at_breckenridge

Breckenridge Real Estate in Breckenridge, Colorado - Park Place Condominiums

Park Place Condominiumsare in a Fantastic location in heart of Breckenridge. One block from Main St. and the Riverwalk Pavilion & Park are across the street. Walk right over to the Gondola, Quick Silver or Snowflake lifts andHistoric Downtown Breckenridge!

Breckenridge maintains the feel of a historic mining town while offering resort-like amenities and breathtaking real estate opportunities designed by nature to fit every lifestyle. More than 4,000 people call Breckenridge home even though thousands more visit the region to ski, snowboard and enjoy other winter activities. Other pastimes such as hiking, biking and golfing are popular with amateurs and experts alike during the gorgeous summer months.

Breckenridge real estateoffers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for homebuyers looking to settle in this wonderful mountain town. To buy or sell in Breckenridge, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Amenities at Sundowner include:

• Pool and Hot Tub
• Located on Summit Stage Bus Route
• Amazing views of the Ten Mile Range and Baldy Mountain
• Great for personal use or as a rental property

If you are looking for a Breckenridge REALTOR®, choose Ten Peaks Sotheby's International Realty! As your Breckenridge real estate agent, Ten Peaks Sotheby's International Realty can assist you with all of your home buying and selling needs. We can provide you with access to the local listings database and offer our experience and knowledge to make the home buying or selling process easier for you and your family. Contact Ten Peaks Sotheby's International Realty today to get your home search started!

Originally Created at: http://tenpeakssothebysrealty.com/real_estate_blog/view/2988/breckenridge_real_estate_in_breckenridge__colorado___park_place_condominiums