Golden FAIR MARKET VALUE


When you buy Golden real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.

 

Golden Home Buying Pitfalls


Buying your Golden home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Golden, the more likely you are to avoid them.

Make sure that when you put in an offer on any Golden home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.


 

Golden Real Estate Contract Options


Less common types of agreements include what is known as a “One Time Show,” and “Exclusive Agency,” and an “Open Listing” agreement. The One -Time Show and the Open Listing are similar and are often used by homeowners who wish to sell their Golden real estate on their own but will agree to pay a commission to an agent who brings a qualified buyer for the home. A Golden homeowner may agree to an Open Listing with several agents and also agree to a One-Time Show to any agent who has an interested buyer.

 

Buying a Golden Fixer-Upper


This, of course, depends on the condition of the Golden home and the estimated cost of the repairs you must make. Golden real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.

Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Golden homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.


 

Green Remodeling Your Golden


Reduced material waste and resource conservation. When remodeling your Golden, there is often a large amount of construction waste: 136 million tons of waste annually, or about 20% of the waste in landfills, according to the EPA.

If you are planning to remodel your Golden anyway, going green offers money-saving advantages. In addition to increasing the value of your home, you will cut monthly operating costs, reduce waste and improve overall health.


 

Rent or Buy Golden


In the early years of your Golden mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Golden would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters