In the dry state of Colorado, it is important to think about fireproofing your home for natural disasters.
In 2012, over fourteen thousand acres in the Black Forest region near Colorado Springs was burned during the biggest wildfire that Colorado has ever seen. Due to a quick response from the local fire departments the fire was eventually contained, but cost over five hundred families their homes. Nowadays, there are products out there that you can use for fireproofing your home in the event of another wildfire like the one in Black Forest. Barricade II Fire Gel is one of the best out there. Recently, this fire gel has been tested and approved for use in an array of firefighting functions.
Getting your hands on some of this powerful fire-retardant gel is now extremely easy with Aflektos. Aflektos is the leading distributor of Barricade II Fire Gel in the state of Colorado. Aflektos is run by Stephen Tivy, a local that is dedicated to helping his neighbors with fireproofing and fire mitigation. Tivy is passionate about bringing the community together by bringing awareness to Colorado homeowners on how to protect themselves from wildfires. Tivy was living in Black Forest in 2013 during the fire that has left many areas blackened still to this day, therefore he has seen what can happen when homeowners do not prepare for future disasters by fireproofing your home.
Not only does Aflektos sell the Barricade II Fire Gel, it can also provide you with the equipment to apply it to your home and property. During many wildfires, the flames spread through the crowns of the trees. With Aflektos, you are now able to pump the fire gel up into your trees where the fire spreads to stop embers from catching fire to your home. For horse owners, it is important to know how certain chemicals can potentially harm your animals. You will be glad to know that the products you get from Aflektos are approved by the EPA and will not harm your horses or the plant life on your property.
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Lowering debt is something that every American wants to do.
Here is some important information about lowering debt in Colorado. We all know that horse owners have a lot of financial things to deal with. The last thing you want to worry about is debt when running a dude ranch in Denver. Credit card debt in America is back to levels prior to the recession. The average credit card annual percentage rate, or APR, is just under sixteen percent. This is according to CreditCards.com and the site’s Weekly Credit Card Report, a trusted place to get information by many agents of the real estate business.
Homeowners have an advantage over renters when it comes to conquering debt issues. With a little basic money management, you can take those higher debt rates and replace them with lower debt rates. Credit cards and assets—such as personal cars, boats, motor vehicles and other personal property—usually have interest rates higher than that of real estate loans.
How can you get a low rate of financing? Did you know that borrowing against a your home typically can give you the lowest rate of financing of anything else? An advantage of borrowing against a home is that the interest could be tax deductible. You could refinance your home mortgage to take cash out to retire personal debt as one option. Another way to do this would be to secure a home equity line of credit, or HELOC.
Qualified mortgage interest includes acquisition debt. This can only be used to buy or improve a principal residence. Of course this is only up to one hundred thousand dollars of home equity debt and it can be used for any purpose. We would all certainly like to become debt-free, paying the least amount of interest that you possible can is a great first first step to meeting that goal. Owning a home provides an asset that allows for options not available to renters. Seek professional advice from your friends at Colorado Horse Property.
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Colorado market value is the price of real estate in the state without any outside forces working against it.
If you are selling or buying a horse property in Colorado, then you should be aware of how market value works. This explanation of the Colorado market value is simple enough, but there are certain nuisances that make it more complicated. For example, homeowners could order an appraisal before they put their home on the market. However, they would incur the expense of it themselves. Also, it can’t be used by the buyer or their lender in the home buying process.
Licensed appraisers look at Colorado market value in three ways—The market data, the replacement cost and by income. A part of being an appraiser is determining which of these three ways they will use. The replacement cost looks at what it would cost to rebuild the property. The income way uses a capitalization rate based on the net operating income of a property to determine value. The market data way relies on recent sales of similar properties nearby.
Real estate agents have been known to use a similar approach to determine fair market value. They perform a Competitive Market Analysis, or CMA. This analysis it looks at recent sales of similar properties, considering properties currently for sale and what homes actually sold. Both appraisals and Competitive Market Analysis reports have a distinct advantage. One is based on the personal opinion of a professional and the other is based on online website estimates using raw data and mathematical formulas.
Though this information is important when selling a home, it is not the “end all, be all” so to speak. Regardless of which method is used, it is just an estimate. Obviously, some estimates are more accurate based on the experience of the person making the estimate. If you need help finding an experienced appraiser that can give you accurate Colorado market value estimates, contact your friends at Colorado Horse Property today.
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Deductibles are essential homeowner tools and here’s why.
Owning your own home is an amazing thing. You have a lot more control on what goes on in your own home. You’re not told what you can and can’t do by a landlord. Plus you are building up equity for your future. Owning your own home as a horse owner is even more amazing. You don’t want to be relying on a landlord when it comes to your animals. However, it is nice to know that someone has you covered in case something happens to your property and this is where deductibles come in.
The idea behind insurance is to that the risk of loss and give it to a company and all you need to do is pay a premium. Most policies have a deductible. Deductibles reduces the amount of the claim that is paid. For more information, contact Colorado Horse Property for professional help.
Policy holders often consider higher deductibles to lower the premium. Lower deductibles mean less money out of pocket if a loss occurs but higher premiums. Higher deductibles result in lower premiums but you bear a larger part of the loss.
Consider that a small fire in a large home that resulted in $2,000 of damage. This might not be covered if the policy holder has a one percent deductible. The homeowner can afford to deal with the cost of repairs in exchange for cheaper premiums. That loss would be difficult for the homeowner. A change in the deductible should be considered.
Homes in flood areas with mortgages from federally regulated lenders require flood insurance. Though, each homeowner needs to assess the risk of being able to financially sustain a flood loss on their home.
It is important to review your deductible. Discuss risks with your property insurance agent so that you’re familiar with the amount. Make any changes that would be appropriate before a claim is made. The FEMA website has information and frequently asked questions about flood insurance.
Colorado Home Inventory, like many things in our lives, is in a housing market that fluctuates.
This fluctuation in the Colorado home inventory goes up and down depending on supply and demand. The fluctuation is done with considerations to the area of market and the price range. The NAR, National Association of Realtors, defines a market as balanced when it has a six month supply of homes for sale. The National Association of Realtors is America’s largest trade association. The NAR represents 1.2 million members. These members include NAR’s institutes, societies, and councils. Members are involved in all aspects of the residential and commercial real estate industries. Likewise, if it takes longer than six months to sell, it is thought to be a buyer’s market and less than six months, a seller’s market.
When it comes to looking at the market, the inventory of existing homes has been reducing. This reduction is by approximately 1.5 million houses. This accounts for 10.3% lower than a year ago. According to the Federal Reserve Bank of St. Louis there are 5.7 months’ supply of new homes currently on the market in the United States. Therefore, on average the country is balanced. Inventory has a direct impact on price.
When demand is constant, but inventory is reduced, price tends to increase. This is because the same number of people are trying to buy a smaller than normal number of homes. It is definitely a good think to be able to spot the direction prices will be moving, whether you are buying or selling a home. When prices and mortgage rates rise, buyers might not be able to afford the same price or size of homes. Colorado is a great state to live and raise horses. For more information on how to get a horse property, contact the professionals at Colorado Horse Property.
Lenders and borrowers have a unique relationship when it comes to the home buying process.
For most transactions lenders and borrowers have a formal relationship. However, when the lender and borrower know each other, whether they are family or friends, is an entirely different story. The Internal Revenue Service has specific rules that govern the transaction especially when the parties know each other.
For starters, the loan must be done in a business-like manner. Even though you know one another doesn’t mean that you don’t have to do everything that you would normally do. You are going to want to have a written note specifying the loan amount, interest rate, term and collateral. The Internal Revenue Service requires that the mortgage be a recorded lien to allow the interest deduction.
You may be in a situation in which you have a less than normal interest rate on your mortgage. Though this is a great thing, remember that there are restrictions on this as well. The rate charged in the note is regulated by the minimum applicable federal rate which is published monthly by IRS based on current Treasury securities. You don’t want to make any of these agencies mad, so make sure you follow the guide lines they specific as closely as you possibly can.
The seller must report the interest paid to them along with the name, address and Social Security number on schedule B when the buyer uses the property as their principal residence. If you play your cards right, you may allow the borrower a slightly lower rate without the expenses of a traditional lender while giving the note holder a higher rate than they can earn in available investments.
Your tax professional can guide the transaction whether you’re a buyer or a seller and your real estate professional can help arrange to have the documents drawn and filed. If you are looking for a lender, contact Colorado Horse Property for assistance.
Renting as a horse owner is probably not a good idea.
Do you own your own horse in Colorado but don’t own your home? Do you rent an apartment and keep you beloved, equine family members boarded at a stables twenty miles from your home? There are many reasons why a horse owner should own their own home. Colorado Horse Property has over 3,500 horse property listing and are committed to getting you into the horse property you and your horses deserve. Here are a few problems with renting in general.
It is a sad reality when we are unable to buy our own home, and instead are buying the home of our landlord. Of course I’m talking about renting. Amortized mortgages that a landlord pays sees a reduced principal amount on the loan and it is usually repaid quickly. unbeknownst to the renter, they are retiring their landlord’s mortgage with the rent that they pay to them. It is crazy to think about, but this renter/owner relationship is very real in today’s economic climate.
The problem with renting is that you payment is higher that what home owners are paying for their mortgage payment including taxes and insurance. The experts in the field are saying that we may never again experience the incredibly low mortgage interest rates currently available. When you rent, you do not have the same advantage that homeowners have by using their home as a leveraged investment.
If you are renting, consider looking for loans that could help you buy your own home. Talk to a loan professional to find out exactly what types of loans are available and the specific down payment required. Remember, down payments can be a whole lot less than twenty percent, and therefore very affordable. Contact Colorado Horse Property for a referral to a loan professional near you.
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Retiring horse owners will find a haven in Colorado.
Retiring horse owners can sometimes find it hard to relocate. Looking for a horse property is now easier than ever with coloradohorseproperty.com, which has over 3,500 properties listed in Colorado. So, if you are looking for an equestrian property for sale that can accommodate you and your horse, then we got you covered. Your retirement is for you to enjoy, not to worry about where you will be living.
But let’s be honest—when it comes to making decisions, we spend more time thinking about which cell phone plan we want to buy than we do our own retirements. Take a moment and imagine retiring on your very own horse property. It doesn’t take long to sit down and calculate how much money you will have to put towards your retirement is you keep a close watch on your spending. The average American has the ability to save around thirty thousand dollars over a period of fifteen years.
So you’ve had the right decision, and you’ve figured out how much money you will have to put towards your retirement. But what should you do with it? Investing is a great way to keep your money safe and guarantee an income once you’ve retired. Investing in a mutual fund can be risky, though it can give you the greater opportunity to earn higher. But what about investing in a rental?
Using around $35,000 for a 20% down payment and closing costs on a $150,000 rental home could give you all the money you will need for retirement and much more. The $35,000 could grow to $153,302. The rate of return on a rental could be as high as 14.19%. Remember, the same agent at Colorado Horse Property who helped you with your home can help you invest in a rental home.
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It costs to wait when it comes to purchasing your horse property.
It costs to wait in respect to buying property. The last thing you want to do is pay more later for a property that you are looking at now. There are many things that can affect the price of a home just as there are many reasons to wait and not wait on buying. Here are a few things that you need to know.
Colorado Horse Property knows that buying a home is one of the biggest decisions you’ll make this year, but did you know that waiting could be costing you more money? Financial experts have been expecting interest rates to increase along with home prices. While homes have definitely increased over the past five years, the mortgage rates today are actually lower than they were a year ago.
Consider the following scenario. Interest rates have increase by 1% over the next year while homes appreciated at 5.5%. That means that a $260,000 home would go up by $16,000 and the payment would be well over two hundred dollars more. The increased payments alone would amount to $17,800 for the next seven years. When facing a decision to postpone a home purchase, you should ask yourself: “how will it feel to have to pay more to live in basically the same home?”
Use the Cost of Waiting to Buy calculator to estimate what it might cost to wait to purchase you horse property based on your own estimates of what interest rates and prices will do in the next year. This cost of waiting calculator is a great tool that you can use to get yourself prepared. Finding out how much it costs to wait on buying a home should be your first step in the home buying process.
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If you are planning to refinance your home, consider not taking money out of it. I know that might sound ludicrous at first, but there are advantages to this strategy. You could more than likely come out of the deal with a lower rate, allowing you to build equity faster so that you can pay off your home sooner.
Paying off your home sooner than later can be the smartest decision you’ve ever made, especially when it comes to being a homeowner in today’s economic climate. So, if you have the extra cash sitting around, opt into lower rates and avoid the low savings rates being paid by banks these days.
Here’s how it works—Consider the following scenario. You, the homeowner, have made nearly fifty payments of over thirteen hundred dollars, making the current mortgage a five percent for a thirty year loan. Now, consider that you decide to refinance for a rate of fifteen years at a little over three percent. If the homeowner puts in $36,000, their payments will be slightly more but the mortgage will be paid off in fifteen years. At that same point, if they keep the current mortgage, their unpaid balance will be well over one hundred thousand dollars. Talk to your financial adviser to see if a cash-in refinance is the right thing for you.