If you think living in your Greeley Colorado and Weld County area home mortgage free is some distant dream of the future ñ think again.It is possible to pay off your mortgage much earlier than you planned even if you donít hit the lottery!There are three strategies that will trim years off of your mortgage repayment schedule.
A mortgage consists of principal and interest paid back over a number of years.The amount of principal to be paid back is a fixed amount.Interest is the key factor for becoming mortgage free.Since the interest you pay back is based upon the length of time you have outstanding principal, the sooner the principal is paid back, the quicker you will pay off your mortgage.Additional information about real estate and mortgages can be found at www.greeley-weldcountyhomesforsale.com.
The first strategy for paying off your mortgage early is to make one extra mortgage payment per year.Many homeowners get an income tax refund and use the extra cash for a splurge.If you were to use that refund instead to make an extra mortgage payment, you could pay off your mortgage 5-7 years earlier than scheduled.The reason for the early pay-off of the mortgage is because the extra principal you pay will not be accruing interest over the next several years.
The second strategy is similar to the first in that an extra payment is made each year.However, where this strategy differs from the first is in how and when the extra payment is made.With the second strategy a homeowner pays half of their monthly mortgage payment every two weeks.The result is 26 half payments being made per year.Although the extra principal being paid bi-weekly is smaller than the once a year extra payment, the extra principal is not accruing interest throughout the year.
The third strategy for paying off your mortgage early is to pay more then your required amount of mortgage each month.In other words, if your budget is too tight to allow for a total extra payment, you can still benefit from paying off principal early.If you were to pay an extra $50 per month, over a year you would have paid an extra $600 in principal.Imagine items you spend $50 on per month and try and reduce or eliminate one.After all, which is more important to you ñ season tickets to a ball game or paying off your mortgage a few years early?
A benefit of paying off your mortgage early is that equity will build in your home faster.Use this equity to ìtrade upî to a larger home faster.The professional real estate agents at RE/MAX Alliance can help you with your real estate needs.
There is a lot of free information available to you about buying, selling or investing in Greeley Colorado and Weld County real estate.
For complete information about the Greeley Colorado and Weld County real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Greeley Colorado and Weld County real estate at www.greeley-weldcountyhomesforsale.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 9703021233 or email me using the form below.
Also for another fast way to pay off your mortgage is to sell your house. If you are interested in that visit www.greeleyrealestatemarketing.com.
Are you looking for a farm in the Greeley Colorado, Weld County or Northern Colorado real estate market? When looking for farm the most important aspect of farming here in Colorado can be put into one word. Water.
I farm here in Weld County and we are fortunate to have fairly good water rights to irrigate our hay farm.
Without water rights on a farm you don't have much of a farm. As you might know or maybe not we don't get alot of rain here in Weld County. So we have to make our own rain in most cases in the form of pivot irrigation sprinklers. There is flood irrigation and some farms even have sub irrigation systems.
What about wells? Sure quite a few farms have wells. But in the Weld County area thanks to crazy government regulation they have shut down the amount of water one can take out of an irrigation well. They say that the farmers are stealing water from the river without putting it back so therefore farmes with wells have to either buy replacement water or not use their wells. If they use their wells without replacement water they are subject to heavy fines. This is just my opinion, but I believe this is false and this is just a way for the goverment to exert more control on farmers, landowners, water rights with more regulations.
An irrigation well might be able to water 160 acres very well, but when you are only allowed to use it to what amounts to a week in an entire summer then it becomes somewhat useless.
This is why if you drive around Weld County you will see quite a few farms that look like they had been good farms growing nothing but weeds now.
The best water rights come in the form of water rights from the local rivers such as the South Platte. The water rights are valued based on the amount of water you get for one share and what year the water rights were established. For example a water right established in 1890 is much more valuable then a water right established in 1945. As the one established in 1945 will have to turn off before the one in 1890 if the water level in the river drops. And this happens nearly every summer.
The value of land is about in the Greeley Colorado real estate area, but the value of the water is what makes the price of farms vary wildly.
This is just a brief blog about farms, and farmland in the Greeley Colorado, Weld County and Northern Colorado marketplace. There is much more to discuss as I will later on.
If you have questions about Northern Colorado Farming, farms, and farmland please contact me at 970-302-1233, visit my website at www.greeley-weldcountyhomesforsale.com or send me an e-mail through the form below.
Do you like the older neighborhoods with the older more classic homes with alot of character? I do. My wife argues that she doesn't like them as there is always something to fix. In Greeley Colorado we have a number of these historic older homes. They mostly are located in the Glenmere area, around the University of Northern Colorado. Also some are located near the Northern Colorado Medical Center and Central High School. These older neighbors also stretch to the north part of Greeley.
I think the oldest homes I've seen were built around 1880. Greeley itself was started as the Union Colony in 1969. You can find out a little of the Greeley History here.
Sadly many of the older historical homes have either been turned into multi unit apartment houses, or have been neglected. Especially the ones that have been turned into rental homes near the University.
Below is a video by none other then This Old House on the history of a home. After that I will feature a few of the historical homes that are currently on the market in the Greeley Colorado Real Estate Market.
There are quite a few homes on the market that were built between 1870-1935. You can find one of these homes for as low as $25,000. Of course that price of home probably needs some work.
This house at 625 22nd St in Greeley was built in 1928 and has a total of 1584 sqft finished and alley access is $74,900. You can seem more details here.
This home at 921 12th Ave in Greeley was built also in 1928 and has a total of 1650 sqft. 4 bedrooms and 3 bathrooms. It has a seperate entry to the basement as many of these homes do. It is priced at $97,000. You can see more details here.
This 2 story house at 816 20 St in Greeley was built in 1903. It has 3 bedrooms, 2 bathrooms and is in walking distance to the University of Northern Colorado. It is priced at $110,000. More information here.
This nice looking home at 1731 6th Ave in Greeley Colorado looks very well cared for and was built in 1906. It has 4 bedrooms and one bathroom. New furnace and hot water heater. Beautiful wood floors and much more. See it here.
This stately looking home at 1510 11th Ave in Greeley Colorado features 3164 total sqft. This property has a 2 car detached garage and a shop area. It has 4 bedrooms and 2 bathrooms. For $185,000. See details here.
Currently there aren't any of the higher dollar historic home on the market, but plently of affordable ones even for the first time buyer.
Also remember there are historic homes in other towns in Weld County. Towns such as Eaton, Windsor, Johnstown, Kersey among others.
If you have an interest in buying one of these homes just give me a call at 970-302-1233 or e-mail me using the form at the end of the article.
This is a May 2009 market report for the Greeley, Colorado marketplace.It includes Evans Colorado as well.Data was obtained from the northern Colorado MLS.It does not take into consideration For Sale By Owner data or any listings listed on the Denver Metrolist MLS and not the Northern Colorado MLS.
In May of 2009 140 properties were sold.These properties are either attached or single family residences with at least 1 bedroom.
The average price was $136,017 and the average days on the market was 107.The lowest priced sale was $20,000 and the highest priced sale was $425,000
Compare that to May of 2008
There were 173 sales with the average days on the market of 95 and an average price of $160,905.
Compare to April of 2009
There were 147 sales with an average sales price of $139,805 and average days on the market of 125.
In summary we are down significantly from May of 2008 in average price and up in time on the market.I feel this is due not totally because of more foreclosures on the market now then this time last year, but that it is much harder for buyers to get a mortgage now then it was in May of 2008.In fact in May of 2008 71 bank owned properties were sold compared to 50 in May of 2009.
Currently in the Greeley Colorado Real Estate Market there are 891 homes for sale through the Multiple Listing Service.The highest priced listing is $8,000,000 and the lowest priced listing is $28,600.
Important Tips on Buying Your First Foreclosed Property in Greeley Colorado by Real Estate & Investing Expert Marc Oster
Buying foreclosed properties is getting more popular and more profitable every day. There are dozens of foreclosed properties hitting the Greeley Colorado Real Estate market every day.
These properties can be both gold mines and land mines. In this article, we'll go over several simple tips to help ensure that your first foreclosure purchase is a successful one.
Opt for a Low-Repair Property for Your First Deal We've all heard about people who make thousands of dollars buying fixer foreclosures and fixing them. The reality is, however, that doing such a deal requires a high degree of expertise. Do you know how to fix a broken roof? Can you estimate how much it would cost to replace an entire shed? Can you estimate how much the repairs will cost and compare it to your selling price in the end?
Although you can make some money doing fixers in Greeley Colorado, you can also make some money just by buying foreclosed properties, doing minor cosmetic repairs and selling them again. For your first foreclosure deal, look for houses that don't require much work so you can get some experience under your belt. This is where you should consult a Realtor. A qualified Realtor will be able to tell you if you are getting a good deal on your purchase, but what you might be able to sell it for in the future with all the expenses associated with it. If you've watched those house flipping shows on TV they like to show the profit, but I've rarely seen one that reports what the costs besides the repairs are. Some of the expenses are title insurance, property insurance, carrying the loan, Taxes, real estate commissions should you use a Realtor to sell.
Research the Markets Surrounding Greeley Colorado Real Estate Market There are generally three reasons you'd buy a foreclosure in Greeley Colorado To rent out, to sell or to live in. If you're buying to repair and rent out or sell, then market research is absolutely essential.
If you're buying to rent, it's important to know what other properties in the Greeley Colorado real estate area are renting for. It's also important to know what the vacancy rates are. You also might want to consider hiring a property manager if you don't want to really manage the property yourself. But don't forget to budget this cost. A property manager usually is experienced in dealing with renters and knows the procedures to do a good job with it.
Based on these numbers, you can accurately predict what your cashflow will be like. If you're buying to sell, it's important to know what you can expect to sell your property for once your repairs are completed.
You should know these numbers before you make your purchase. Remember that with any real estate investment in Greeley Colorado the profit is made on the buy end, not the sell end. You must know how much your property is worth or how much you can rent it out for before you can make a profitable investment.
You also need to have an idea of what kind of property you want. Do you want a single family home, an attached dwelling, or a patio home to name a few.
Another thing you need to do is to prepare for your purchase. In Greeley Colorado if a property comes on the market, is well priced, and is in fairly good shape you will need to move fast to put an offer in on it. You can't just sit around and wait for a week thinking about it. Most of the time you will have competing offers. You will either have to be pre approved for a loan or have cash on hand to be able to compete with other buyers.
One last thing. You've probably heard somewhere that you can get foreclosures for half price and to always offer very low on these properties. This is NOT true. Most foreclosure properties are priced at the market and also to sell within 90 days. The only time I would recommend really offering low is when the property has been on the market for awhile and there are no competing offers. If there are competing offers you know that the property is priced right and will move fast with or without you.
These tips will help you avoid some of the biggest pitfalls beginning investors tend to fall into with their first investments. Foreclosures can be a very lucrative business, but it also has its dangers.
If you would like a free list of new foreclosures that have just come onto the Greeley Real Estate Market or any other Weld County area just send a request using the form at the end of this article.
There is a lot of free information available to you about buying, selling or investing in Greeley Colorado real estate. For complete information about the Greeley Colorado real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Greeley Colorado real estate at http://www.greeley-weldcountyhomesforsale.com/ Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 970-302-1233 or email me using the form at the end of this article.
If your looking to buy a home in Greeley Colorado and don't know much about the area or about Greeley Colorado Real Estate click on this short video that tells a little bit about the neighborhoods in Greeley. This video was made by the Greeley Area Realtor Association of which I'm a member of. If you have any questions please contact me.
One of the many dire predictions done these past few months by many Greeley Colorado and Weld County‘bubbleologists’ out there
-
that is all those who indulge in the contemplation of
bubbles in the Greeley Colorado and Weld County real estate market of all sizes and colors, whether real or imaginary, coming our
way - was that by now real estate markets everywhere would be inundated
and swept away by a tsunami of foreclosures of apocalyptic proportions.
The
general rationale among those specializing in the fine art of staring
at crystal balls (or perhaps at several empty bottles of rum) was that
the steady increase in interest rates, the consequence of a tightening
monetary policy implemented by the Fed since mid-2004, would have led
by now to a collapse of the adjustable-rate mortgages (ARMs) market,
since consumers could not possibly cope with the increased monthly
payments. This, in turn, would dramatically increase mortgage defaults
and foreclosures, with the end result that real estate markets
everywhere would be flooded with excess inventory at deflated prices,
thus causing markets to crash - the tsunami I was talking about.
Information on this website for real estate in Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado is deemed to be reliable but not guaranteed. Listings for real estate and properties in Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado provided by Y & M Real Estate LLC. Listings data may be useful for many Northern Colorado areas including Fort Collins, Frederick, Greeley, Evans, Johnstown, Milliken, Longmont, Loveland, and Windsor Colorado.
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