Preparing to Buyer a Home? – Additional Expenses When Buying a Home

You’ve decided to buy a house, that’s great!  But what goes into being a home owner?  Additional expenses and responsibilities can be a concern for many home buyers, especially if you are a first time home buyer.  Many home buyers are timid about the expenses around caring for their new home but with a little plan ahead it is well worth the financial gain and freedom to take on home maintenance and expenses!

Additional Expenses When Buying a Home

Once you make the jump to being a home owner, there are additional expenses to your mortgage payment.

  • Property Taxes
  • Insuring Your Home
  • Routine Maintenance and Up-Keep
  • Roof or Appliance Repairs
  • Homeowner’s Association Fees

 

Tatyana Sturm and The Storck Team have over 10 years experience in AuroraCentennial, and Parker real estate and have helped buyers in many different walks of life with finding their new home from the first time home buyer to seasoned investors all across Colorado.  We have a true passion around finding you the best home for your lifestyle.  Please call or text The Storck Team at (720) 350-5909 or email us at thestorckteam@exitrealtydtc.com to start your home buying process with a knowledgeable and trustworthy real estate professional.

Preparing to Buy a Home? – Know What You Can Afford!

Considering a move?  Are you thinking of buying a new home?  There is SO much that goes into purchasing a new home whether you are a first time home buyer or purchasing your 5th home.  Purchasing a new home should be the most exciting time in your life, but it is often stressful as well.  A good Realtor or real estate agent will make themselves available to you for advice outside of just your “Purchase Contract” and will be invested in helping you arrive to your ideal situation.

Know What You Can Afford

Figuring out what you qualify for regarding your monthly mortgage payment is a vital first step toward buying your new home, but much more needs to go into this piece of the puzzle beyond the black and white monthly payment number your mortgage lender prescribes.  Often the amount your lender says you can afford and the amount you are truly comfortable paying on a monthly basis can vary.  We encourage you to create a fairly detailed budget of your monthly expenses by subtracting all of your monthly expenses from your take home pay while leaving out any current rent or mortgage payments you may have.

Did You Know?

When applying for your new home loan, there are several common monthly household bills that your lender does not include when considering how much you can afford to pay for your new home.

  • Daycare
  • Health and Car Insurance
  • Gas and Vehicle Maintenance
  • Entertainment
  • Cable and Internet

 

Tatyana Sturm and The Storck Team have over 10 years experience in AuroraCentennial, and Parker real estate and have helped buyers in many different walks of life with finding their new home from the first time home buyer to seasoned investors all across Colorado.  We have a true passion around finding you the best home for your lifestyle.  Please call or text The Storck Team at (720) 350-5909 or email us at thestorckteam@exitrealtydtc.com to start your home buying process with a knowledgeable and trustworthy real estate professional.

Just Sold by The Storck Team!

We are so excited for our sellers that closed on their homes today!  The Storck Team was honored to serve in these two short sales, and we are elated for our sellers to start their new chapter in life.

If you have recently experienced a hardship and have fallen behind on your mortgage payments we can help!  The Storck Team has specialized in foreclosure and short sale real estate for ten years in the Denver Metro area as your voice to your lender in a very difficult time.

Helena

 

5546 Helena Street in Denver
Sold in just over 6 months for $172,200 in Parkfield.

 

Mobile

 

4648 South Mobile Way in Aurora
Sold in 9 months for $170,000 in Pheasant Run.

 

Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

Tatyana Sturm and The Storck Team have been honored to serve the Denver and surrounding areas in relocation real estate for the last 10 years as one of Denver’s leading short sale and foreclosure specialists.  If you or someone you know is facing foreclosure, make sure you are educated on your options.  You might have equity or money in your home that you are unaware of in this ever changing real estate market.  Call or text The Storck Teamto explore your options with short sale and foreclosure today at (720) 350-5909.  We are available 7 days a week for a consultation.

Home Affordability Expected to Drop 10% in 2015

Housing MarketReal Estate experts are suggesting that NOW is the time to move if you are planning to buy a home in 2015.  Realtor.com economists predict that home affordability will decline as much as 10% by the end of the year.  And with property values rising at record rates, you’re likely to qualify for less home by the time summer come around.  The Federal Reserve Bank also continues to remind the public that they plan on raising target federal funding rates in 2015 which will cause mortgage interest rates to rise as well.

 

Read the full realtor.com article “Why Homebuyers Need to Act Now” HERE.

 

Reality_201321Tatyana Sturm and The Storck Team have 10 years experience in Denver Metro real estate and have helped buyers in many different walks of life with finding their new home from the first time home buyer to seasoned investors all across Colorado.  We have a true passion around finding you the best home for your lifestyle.  Please call or text The Storck Team at (720) 350-5909 or email us at thestorckteam@exitrealtydtc.com to start your home buying process with a knowledgeable and trustworthy real estate professional.

The Short Sale Process for Sellers

short saleHave you fallen behind in your mortgage?
Have you recently suffered a job loss on reduction in your income?
Have you recently been through a divorce and can’t afford your monthly bills alone?

 

These are all situations that many Americans face on a daily basis, it’s scary!  If you have fallen behind on your bills and/or received a notice from your mortgage lender that they you could be facing foreclosure you have options!  You may have equity in your home that you are unaware of, home values have gone up an average of 10% in the Denver area over the last 12 months.  You may qualify to short sale your home.  If you are considering a short sale, here are a few guidelines to the process.

 

1. First you must determine if you and your home are eligible for a short sale.  There are several qualifying factors here.
-Is your hardship going to be long term?
-Do you owe more on the home that market value (what you can sell it for).
-You can no longer afford to keep your home or need to relocate.
-You are not eligible for a loan modification or refinance through your lender.

2. Select a Realtor to help you short sale the home.  Surprisingly your Realtor will play a critical roll in the short sale of your home.  A Realtor knowledgeable in the short sale process, like The Storck Team, will have a team of specialists on your side from professional short sale negotiators to Realtors experienced in marketing and lender policies regarding your home.

3. Apply to your lender for participating in a short sale.  The lender will ask you for documentation to approve your request to short sell.  This is where our team of professionals will help you start the process in explaining to your lender why you need to short sell your home.

4. We put your home for sale on the real estate market.  Your home will be designated as a short sale and marketed with the understanding that the home is sold as is and you are not in a position to make any repairs.  This protects you from going through costly inspection repairs that you cannot afford.

5. Your lender will hire an appraiser to assign a market value to your home.  This is a huge step!  This will let you know how much you need to accept for a contract price on your home.

 

There are so many variables to the short sale process, and each circumstance is different.  Despite being called a “short” sale, they actually take significantly longer than a regular home sale.  A short sale means that you are selling the property short of what you owe on your mortgage.  You should plan on the sale process taking a minimum of six months.

 

Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

Tatyana Sturm and The Storck Team have been honored to serve the Denver and surrounding areas in relocation real estate for the last 10 years as one of Denver’s leading short sale and foreclosure specialists.  If you or someone you know is facing foreclosure, make sure you are educated on your options.  You might have equity or money in your home that you are unaware of in this ever changing real estate market.  Call or text The Storck Teamto explore your options with short sale and foreclosure today at (720) 350-5909.  We are available 7 days a week for a consultation.


Tatyana:
Aaron: 720-273-7419
Exit Realty


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