Ten Peaks Sotheby's International Realty Blog

Saving for Your Down Payment - Breckenridge Real Estate

FROM TRUILA- CONSUMER HANDOUTS

Research has shown time and again one of the greatest hurdles to

home buying is coming up with the, sometimes dreaded, down

payment. Here are a few softer practical strategies to help you clear

the hurdle and come up with the cash you need.

6 Steps to Saving for a Down Payment

1. Plan for progress – Your Dream Budget.

Saving isn’t all dollars and cents, it’s a little emotional. That’s why we

recommend finding a few visuals to remind you why you’re in the

saving game. They could be photos or a list of features of your dream

home. Whatever your focal point, we recommend storing it close to

your budget, wallet, or in the place you pay bills to remind you of what

you’re working for.

2. Slow your Spending – The 10-day rule.

The biggest enemy of spending is the impulse buy. So, for purchases

over $25 exercise some self-discipline and give yourself 10-days to

decide, Is this purchase for a real need or a want?

3. Avoid the Convenience.

Your mother was right, good things take time…and so do cheap

things. From coffee on the go to lavish meals out, most consumers are

paying quite a bit for convenience. Try to avoid your local convenience

stores and become friends with your kitchen to help your bottom line.

4. Drink More Water.

According to the National Soft Drink Association, the average

American Household spends about $850 annually on sweetened

drinks. In contrast, water costs just a penny per gallon. Do this and

you’ll start your life as a homeowner not only richer, but a bit healthier

too.

5. Track Expenses - Face Your Truth.

We scoured the net and all the experts agree, the only thing more

powerful than creating a budget is actually reading and tracking it. We

suggest you schedule some time with yourself every week to face the

truth about your spending habits and find new ways you can save.

6. Eliminate the excess spending.

Locate the excess in your budget and slash it. Trade the gym for home

workouts, expensive movie nights for checking out free videos from

the library, and keep an eye out at the end of each month for services

you aren’t using.

Serious Sources for a Down Payment

 

These suggestions aren’t for the faint at heart. But, if you’re serious about saving up these sure fire moves will help you reach your goal.

Payroll Deductions: One of the best ways to

save money is to hide it from yourself. Payroll

deductions or allocating a piece of your direct

deposit to a special savings account can be a

great way to trick yourself into saving.

Tax Refund: You know it’s coming, why not

use it toward your down payment? If you’re

really serious about home ownership, talk to

an accountant about tax planning to make

sure there is a little green at the end of the year

to help you with your down payment.

Borrow from the 401k: It’s not losing your

retirement, it’s more so using a piece of one

investment to make another. First-time

homebuyers can one-time borrow up to

$10,000 from their Individual Retirement

Accounts (IRAs) without paying the early

withdrawal fees. Be sure to talk to your 401k

or IRA administrator to find out how it will

impact your retirement.

More Work: Yes, we said it; more work. If

you’re serious about reaching your down

payment goal, consider spending a few hours

working part-time. 10 hours/ week at $10/hour

all year will get you $5200 closer to your goal.

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 home-buyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area or any other area in Summit County, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

If you would like more information about buying or selling in Breckenridge or any other area in Summit County, contact the experienced local real estate professionals at Ten Peaks Sotheby's International Realty. For Free listing alert updates check out our website at http://www.tenpeakssothebysrealty.com/

 

TIPS FOR THE BIG MOVE - BRECKENRIDGE REAL ESTATE

Buying real estate, whether it is your primary residence or a vacation home, is an exciting but often overwhelming experience. As your REALTOR®, we can help you through the buying process and assure that you find the right property at the right price.  Here are some helpful moving tips when coming purchasing in the Breckenridge Real Estate Market.

Four weeks to go:

• Call moving companies for a free estimate. Cost will vary depending on distance, weight and optional services.
• Look through your house to determine items to be discarded or donated to charity. Have a garage sale!
• Inform schools of transfer. Make arrangements for enrollment/registration in new schools if necessary.
• Most homeowner's policies do not provide adequate coverage for moving. Check with your agent and consider purchasing additional coverage from a moving company.
• Begin collecting boxes with covers if you plan to pack your belongings without assistance from a moving company. You can purchase do-it-yourself packing materials through moving companies or contact local grocery stores for extra boxes. Be sure to stock up on packing tape!
• Consider beginning to consume perishable and frozen food items to minimize waste.

Three weeks to go:

• Begin packing!
• Notify the post office of your new address and send change of address cards to friends, family, subscriptions and any billing companies.
• Make necessary travel arrangements including interim housing and car rental. Be sure to record confirmation numbers.
• Collect medical records and prescriptions from physicians. Ask for recommendations for doctors in your new area.
• Place legal, medical and insurance records in a safe and accessible place.

Two weeks to go:

• Arrange to disconnect utilities/services in your current residence and coordinate installation of utilities/services in your new home.
• Close/transfer bank accounts and open accounts in your new city.
• Take pets to the vet for immunizations. Ask for advice on moving animals.
• Draw a map of your new home and where the furniture will be arranged.
• Return library books and any borrowed items.
• Be sure to cancel newspaper subscriptions and/or any special services you have (i.e., landscaping/lawn service, snow plow, etc.).

One week to go:

• Prepare car for the trip. Check the oil, tires, brakes, etc.
• Drain water from hoses.
• Drain gasoline and oil from any lawn or power equipment.
• Remember to pick up items sent to the cleaners or for repairs.

Days before:

• Defrost and clean out refrigerator
• Pack your luggage and separate any items you will need in the first days in your new home (i.e., a current telephone directory - you may need to refer to it for calls to residents or businesses in your former hometown). Label these boxes "Load Last."
• Reconfirm travel arrangements.
• Reserve ample parking space for the movers and provide clear paths inside the house.

The Big Day!

• Be on hand to answer any questions.
• Go over your inventory with the driver.
• Be sure to point out all FRAGILE items to the movers.
• Check, double check and triple check to see if anything is left behind!
• Do not leave the house until the movers are gone.

A Few More Moving Thoughts:

Moving your computer - Make copies of all your files and software. If possible, pack your computer, monitor, and printer in their original boxes. If not, ask a moving company for boxes made especially for computers.

Packing supplies - 1.5" packing tape, thick markers, packing pellets, scissors, labels, tissue paper, newspaper and blankets.

Inventory - Review inventory list.

Pack photographs between sheets and blankets in boxes for added protection.

At your destination consider hooking up the TV and VCR to occupy children until the movers have finished unloading the vehicle.

Breckenridge Homes for Sale

Looking for Breckenridge homes for sale? Search our local listings database for access to listings in Breckenridge and surrounding areas. Whether you want to buy or sell Breckenridge real estate, you can browse through properties or find a wide variety of real estate resources available on this website.

Breckenridge Real Estate Agent

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!

Breckenridge Real Estate - Copper Mountain Studio

COPPER MOUNTAIN STUDIO

$160,000.00

Enjoy a short walk to the lifts? This Copper Mountain studio can offer you exactly that.  This is a great starter unit, top floor studio with great location.  Comfy Murphy bed and spacious full sized kitchen and bathroom.

 

WALK TO THE GREAT RESTAURANTS, SHOPS AND ALL WINTER AND SUMMER ACTIVITIES THAT COPPER MOUNTAIN HAS TO OFFER.

SKIING, GOLFING, SUMMER CONCERTS!

GREAT UNIT AT A GREAT PRICE!!!!

 

 

THIS PROPERTY IS BEING OFFERED BY

 

CONTACT LORI MITCHELL FOR FURTHER INFORMATION

CELL 970-333-0540 - OFFICE 970-453-0550

TEN PEAKS SOTHEBY'S INTERNATIONAL REALTY

THE REAL ESTATE COMPANY THAT CAN HELP YOU WITH ALL OF YOUR

SUMMIT COUNTY REAL ESTATE NEEDS

BRECKENRIDGE REAL ESTATE - 1 BEDROOM - 1 BATH IN HIGHLAND GREENS LODGE

$299,900.00

VIEWS, VIEWS, VIEWS!!!  

GORGEOUS MAIN LEVEL, SOUTH FACING, TURN-KEY OPPORTUNITY

FEATURING GRANITE COUNTER TOPS, SLATE FLOORING AND TASTEFUL FURNISHINGS

OVER-SIZED DECK WITH SKI SLOPE VIEWS

PRIVATE SHUTTLE TAKES YOU TO DIRECTLY TO SKI SLOPES 

SECURE COMPLEX OFFERS HOT TUB, FITNESS ROOM, SKI LOCKERS

CLOSE PROXIMITY TO BRECKENRIDGE GOLF COURSE, NORDIC CENTER, PAVED BIKE PATH, FISHING & MORE

 LISTING OFFERED BY

MEREDITH AMON

970.389.2905

Ten Peaks Sotheby's International Realty

67 Marksberry Way

P.O. Box 4163

Breckenridge, Co. 80424

970.453.0550

Breckenridge Real Estate Homes & Land for Sale - Spruce Valley Ranch

Spruce Valley Ranch subdivision is one great areas to live in Blue River, which is adjacent to Breckenridge. You are only minutes from Historic Downtown Breckenridge! No matter if you like heavily wooded forests with Spruce and Fir trees or unobstructed vista of the Breckenridge Ski Resort, Spruce Valley Ranch has it all. There are babbling brooks and you surround Goose Pasture Tarn which is great for summer fishing. Spruce Valley Ranch is an Equestrian Paradise!

 

Located Off: Hwy 9 in Breckenridge Colorado

Spruce Valley Ranch offers Single Family Homes & Vacant Land.

Amenities at Spruce Valley Ranch include:

•  Surrounded by National Forest Land

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• Less Then 5 Minutes to Downtown Breckenridge 

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• Beautiful Views of Goose Pasture Tarn 

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• Amazing Views of Breckenridge Ski Resort

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• Great Wooded Lots with Tons of Privacy

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Breckenridge Colorado maintains the feel of a historic mining town while offering resort-like amenities and breathtaking Breckenridge 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 the Breckenridge Real Estatearea or any other area in Summit County, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

Breckenridge Real Estate - Congratulations, You're a Homeowner!

You've done it. You've bought a home. You own part of The Dream. In the process you've also acquired many responsibilities and concerns. There are mortgage payments to make, records to keep and maintenance work to complete. Below are a few tips for the new owner.

Mortgage payments

Every month you'll receive a statement from your lender reminding you that your mortgage payment is due - or, if you have a coupon book, you'll have to remember to send your payment on time.

Some lenders can automatically deduct your monthly payment from your checking account. This saves you time and postage costs. And it can prevent the possibility of missing a payment. Ask your lender about this service.

Furnishing and renovating

You've just moved in. Most of your belongings are still in boxes. But you've decided the first thing you want to do is redo the first-floor bathroom, buy new furniture for the living room and strip the wallpaper from every wall in the house.

Stop. Put your hands in your pockets, seal your wallet, tie yourself to a chair. Don't do anything major right away.

Acquiring a home requires some adjustment. Your mortgage payment is probably a good deal higher than the rent you've been paying, so you need some time to get used to the new cash regimen you'll be living under. Too many new buyers realize to late that they had no idea how much it costs to run a home.

The message here is simple common sense. Go for a slow, smooth transition. You'll probably be living in this house for a good while; don't try to do everything at once, even if you can afford it.

Papers to keep

You should keep a copy of every document you signed at the closing. It's especially important to keep a copy of your settlement form. It will be useful when you file your taxes and if you sell your home. For example, the real estate taxes and loan discount points you paid as part of your closing costs are tax deductible. So, when you file your taxes, refer to your settlement form to get these amounts.

In addition to the closing documents, you should keep all insurance records, such as homeowners and title insurance. You would need to have access to your homeowners policy if, for example, someone were to sue you because they were injured on your property. And you would refer to your title insurance policy if you were to find a flaw in the title after you bought the house.

It's a good idea to keep these important records in a safe place. You may want to store them in a safety deposit box or a bank vault in addition to keeping a copy at home.

Home maintenance

Your mortgage requires that you adequately maintain your property and not allow it to deteriorate. And as a homeowner, you can't afford to sit back and postpone maintenance. You can extend the life of appliances and fixtures and avoid expensive repairs by performing routine maintenance yourself.

It's a good idea to set up a budget for your home's regular maintenance and unexpected repairs. You may want to budget 1 percent of the purchase price of your house to cover annual maintenance and repairs. You also may want to stick to a regular savings plan to cover essential bills, emergency repairs and large, periodic expenses such as property taxes and homeowners insurance.

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 home buyers looking to settle in this wonderful mountain town. To buy or
sell in the Breckenridge Real Estate area or any other area in Summit County, contact the
experienced real estate professionals at Ten Peaks Sotheby's International Realty.

If you would like more information about buying or selling in Breckenridge or any other
area in Summit County, contact the experienced local real estate professionals at Ten
Peaks Sotheby's International Realty. For Free listing alert updates check out our website
at www.TenPeaksSothebysRealty.com

Short Sales vs. Foreclosures - Breckenridge Real Estate

" I feel this is one the countries "Pink Elephants", everyone knows about them but no one talks about them. Luckily we don't have to deal with toom any short sales or foreclosures in Breckenridge or Summit county. Depending what side of the coin you are on a short sale can be a great investment or the worst thing to happen in your life. Either way a short sale or foreclosure is not an easy process and it seems like most Americans are getting a crash course wether they want it or not."

Short Sales vs Foreclosures - The Real Deal

  

July 11, 2008

Editor's Note: Short sales and preforeclosures are two home types that constitute a growing subset of bargain homes that also includes properties referred to as "distressed" and "auction" homes.

With many Americans facing the very real threat of foreclosure, many are looking for ways to avoid it. One option, and a topic that has garnered a lot of industry interest, is a real estate short sale. Normally reserved for stocks and other finance-related transactions, short sales are becoming an increasingly popular, and common, foreclosure avoidance tactic for homeowners.

Courtesy of AOL Real Estate

To help understand how a short sale would relate to, or differ from, a foreclosure, it may be helpful to point out that short sales can also be referred to as "pre-foreclosure sales" which, as the name implies, precedes the home being officially repossessed or foreclosed on by the lender. That is, the property is sold much earlier than the months it typically takes to reach foreclosure, allowing all parties to move on from the transaction sooner.

It should be noted that there are still negative ramifications for short sales, even if less damaging than those associated with foreclosures and/or bankruptcy. For example, a short sale homeowner's credit will still be adversely affected by settling with the lender. In fact, according to an article by Elizabeth Weintraub on About.com, the effects on credit are about the same for short sale and foreclosure and could drop a sellers overall score by as much as 200-300 points. However, short sales do carry less negative effects than foreclosures. Short sale sellers are widely seen as less risky than foreclosed sellers. Case in point, Fannie Mae recently adjusted their guidelines to dictate only a two year waiting period for a short sale seller to buy another primary residence, while they extended the waiting period for foreclosures to five years. Fannie Mae Guidelines

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 - but these buyers need to not only be looking for a bargain, but have the time and skills to negotiate effectively as well. See "Buying Short Sales".

The net-net of this topic - short sales do present a better option for distressed sellers than foreclosures. However, it is neither an easy or short process, and sellers should seek thorough legal and tax advice when considering this route.