Real Estate Blog

Derek and Suzanne ~ “Seth and Fred made the process of purchasing our new home seamless.”

Moving across country can be a difficult task. Seth and Fred made the process of purchasing our new home seamless, throughout the entire process Seth, Fred, and the team were very responsive to our needs at any time of day. They worked hard to make sure our new house was up to our standards and got us exactly what we were looking for. I would highly recommend Seth and Fred to anyone looking to buy or sell a house in the Denver area!!  ~ Derek and Suzanne

Featured Community: Stonegate, Parker

Stonegate Village in Parker, Colorado has it all – it’s a family community in a top-notch school district with affordable housing and an abundance of recreational activities!

Stonegate offers different levels of living from single family homes with acreage to low maintenance condos or townhomes with pricing ranging from $200,000 to $600,000. Stonegate’s location offers easy access to I-25, C-470 and South Denver for a minimal commute. Students attend Douglas County Schools, which offers a top-notch education and a plethora of extracurricular activities. Many students within Stonegate are able to walk to their neighborhood school!

For more information on buying or selling a home in Stonegate Village, contact resident-expert Seth Jenson at 720-989-1210 or at seth@jensonteam.com.

How to Drop Your Mortgage Insurance

In order to remove private mortgage insurance (PMI) you pay on your mortgage loan, you must be up to date with your monthly payments. If you are, and if your mortgage closed on or after July 29, 1999, federal law generally provides two ways for you to remove PMI from your loan: (1) reqest PMI cancellation or (2) PMI termination.

 

Request PMI cancellation

The Homeowners Protection Act gives you the right to request your lender cancel PMI when you have reached the date when the principal balance of your mortgage is scheduled to fall to 80 percent of the original value of your home. This date should have been given to you in writing on a PMI disclosure form when you received your mortgage. Contact your lender if you cannot find the disclosure form.  If you have made additional payments to reduce the principal balance of your mortgage to 80% of the original value of your home, you can request this earlier.

If you meet these requirements your servicer generally must cancel your PMI when you request it:

  • Your request must be in writing.
  • You must have a good payment history and be current on your payments.
  • Your lender may require you to certify that there are no junior liens (such as a second mortgage) on your home.
  • Your lender can also require you to provide evidence, such as an appraisal, that the value of your property has not declined below the value of the home when you first bought it.  If the value of your home has decreased, you may not be able to cancel PMI.

If you have made a lot of home improvements and/or your home has appreciated enough to have 20% equity in your home, you can request in writing to your current lender-servicer that the PMI be cancelled. Ask them to order an appraisal to verify the equity if you are depending on appreciation or home improvement to earn the equity.  If you have paid on the mortgage to such a point that you have 20% in equity, they can cancel without an appraisal.

 

Automatic PMI termination

Even if you don’t ask your lender to cancel PMI, your lender still must terminate PMI on the date when your principal balance is scheduled.  You must be current on your payments on the anticipated cancellation date, otherwise PMI will not be terminated until shortly after your payments are brought up to date.

 

Final PMI termination

Your lender must terminate PMI if you reach the midpoint of your loan’s amortization schedule before the date. The midpoint of your loan’s amortization schedule is halfway through the life of your loan. Most loans are 30-year loans, so the midpoint would occur after 15 years.  You must be current on your monthly payments for termination to occur.

If your loan is guaranteed by the Federal Housing Administration (FHA) or Department of Veterans Affairs (VA), these rules generally won’t apply.  If you have questions about mortgage insurance on an FHA or VA loan, contact your provider.

Contact Seth Jenson at 720-989-1210 or seth@jensonteam.com when you need an experienced, knowledgeable realtor who loves Denver and knows the community well.

Photo Credit: Money Crashers

Featured New Home Community: Dove Meadows in Parker

Dove Meadows is located in desirable Parker north of E-470 and Chambers with easy access to the Denver Tech Center, Meridian Business Center and Downtown Denver via I-25 and E-470. New Lennar homes offer six different models with 3 or 4 bedrooms and 2 to 3.5 bathrooms ranging in square footage from 1,600 to 2,800. Home prices range from approximately $350,000 to $390,000.

Dove Meadows homes are part of Lennar’s “Everything’s Included” package. All the add-ons and extras a homebuyer could want are simply included and at the best possible value. Lennar researched the most desirable home features and includes them in these homes to remove the hassles, headaches and guesswork from the home-buying process. Some features include: granite countertops in kitchens and master bathrooms, kitchen appliances, hardwood flooring, blinds, walk in closets, A/C, high efficiency water heaters, full basements with rough plumbing and yard landscaping with irrigation systems.

For more information on Dove Meadows in Parker, or for a copy of any of the floor plans or elevations, please contact Seth Jenson at  (720) 989-1210 or at Seth@JensonTeam.com. Seth has helped and continues to help many buyers purchase new homes. 

Joy ~ “I recommend Seth and Fred to everyone and anyone!”

I only have the highest regard for Seth and Fred. They were more professional, helpful and prompt to respond to any questions (with clear answers) than any Realtors® with whom I have ever dealt. They were patient and understanding. They would be the only people I would recommend or use if I had to take this journey again. I would recommend them to everyone and anyone. ~ Joy

5 Reasons Not To Sell Your House By Owner

 

For Sale By Owner, or FSBO, is the process of selling real estate without the representation of a real estate agent to avoid paying the realtor commission fee. Some sellers entertain the notion of selling their home without a real estate agent, especially given the abundance of information online. Although we all love to say money – finding online coupons, using credit card points for purchases and seeking out the least expensive gas station in the area – the truth is that FSBO real estate transactions typically don’t work. In the end, they generally end up costing the sellers more than if they had worked with an agent.

Following are the top 5 reasons why you may want to steer clear of going the FSBO when when selling your home:

1. Legal Issues
Selling your home is probably one of the biggest financial transactions you will ever make and the process is fraught with potential legal issues. For example, FSBOs get sued more than any other group in real estate. Over 70-percent of all real estate litigation is a result of one party not being represented in the transaction, like in a FSBO, where the buyer may have an agent protecting their best interest while the seller does not. Also, keep in mind the paperwork involved in a home sale is extensive – usually over 100 pages – and the documents are legal and binding. If a FSBO transaction is successful, it is generally because the parties involved were friends or relatives.

2. Money Loss
According to the National Association of Realtors, a realtor gets sellers 10- to 13-percent more for their home than people trying to sell by themselves. Since realtors typically only charge 6 percent, the average consumer will make 4- to 7-percent or more on their home sale if they use a real estate agent.

3. Emotional Relief
Selling your home isn’t like selling something on eBay – it’s likely a place where you’ve made memories and have some serious emotional attachments. The sale of a home generally comes at a time of significant life change, such as a new job, new baby, retirement, divorce, or death. Emotionally detaching means you may not be as objective as possible and, as a result, there could be negative financial ramifications. Putting a realtor as a third party in between you and the sale can be comforting.

4. Agent’s Commission
For FSBOs, you aren’t necessarily saving 6-percent of the home’s sales price by not hiring a realtor. Most likely, you’re only saving 3-percent because when a home is sold the seller’s agent splits the 6-percent commission with the buyer’s agent. To get more traffic to your listing, you need to offer that commission to the buyer’s agent as an incentive for them to show your home. Also, few buyers feel comfortable negotiating directly with an unrepresented seller. Buyers want guidance from their realtor and appreciate their feedback.

Here’s what’s worse. If the buyers don’t have a realtor, they will automatically deduct 6% to 10% from the
price of your house. They will see the fact that you are selling your home by owner as an opportunity for
them to save money, not you.

5. Time Commitment
An immense amount of prep time is involved in selling a home, not to mention the time and energy to show the home once it’s listed. In a FSBO, you’d have to field calls, emails and questions from buyers and agents and be prepared to show it at a moment’s notice. Not everyone is cut out for the additional workload and stress. You may have to handle this while you’re focusing on moving as well, which can result in an overwhelming process.

If you want to sell your home for the most money, use a realtor with a great track record. A great realtor will more than make up for the cost of hiring him. As I like to say, I work for free because by hiring me, my clients walk away with more money! You will net far more money on the sale of your home, even after the commission is paid, if it is prepared properly, marketed aggressively, and negotiated expertly.

Contact Seth Jenson at 720-989-1210 or seth@jensonteam.com when you need an experienced, knowledgeable realtor who gets the job done.

Photo Credit: SFGate

Who Knew Costco Was a Parker Hot Spot?

 

After a good work out at LifeTime Fitness, we decided to ruin it by going to Costco for pizza and smoothies. We saw lots of friends there. We always do. Its definitely the place to be on a Saturday afternoon. Costco is one of our favorite places to go as a family.

 

 

Costcos are pretty much the same wherever you go, but the one in Parker is definitely newer and cleaner than most. And it definitely feels less crowded than the Park Meadows location. The staff is always helpful and friendly and where else can you buy enough t.p. and paper towels for an entire year, then get a hot dog and a soda for $1.50! Add in the free samples they have available and its a recipe for a fun family outing.

 

 

Whatever you need, you can always find it at Costco. In addition to their amazing pizza and hot dogs, we also love that their selection of fresh fruits, veggies, all natural and organic products has improved over the years!  The onsite gas station is very convenient as well. And the gas prices are always cheaper than other place in town.

If you aren’t a member yet, get yourself signed up today! Costco has everything you could ever need or want. And its fun for the whole family!

18414 Cottonwood Dr
Parker, Colorado 80134
Phone: (303) 583-1937