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Do You Need a Realtor to Buy a Home?
Buying a home is a major investment, and it comes with a lot of variables. From finding the right neighborhood to determining how much home your budget allows, it is a complicated task. Because of the difficulties involved, many prospective homebuyers decide to work with a full-service realtor. However, if you decide to go on this venture by yourself, here are the top things you’ll want to know before you buy a home without a realtor.
Consider These 5 Things Before Buying a Home Without a Realtor:
Forbes shared 5 times to consider buying a home without a realtor:
1. You’re Related to the Seller
You might be able to avoid hiring a real estate agent if you’re selling a home within your family. In that case, as long as you’ve agreed on a price and other important transaction details, you’ll probably be able to handle it without the seller paying thousands of dollars in commission. Regardless, consult a lawyer to conduct a title search on the property and ensure that all paperwork is properly filled out, reviewed, and filed.
2. You Know the Area
When you’re buying a home in a neighborhood you know well, you might not think it’s necessary to hire a buyer’s agent. However, a real estate agent can provide more information than just market knowledge, such as assisting you in finding the right home and negotiating with the seller’s agent.
3. You Can Save Money
In rare circumstances, a buyer may be required to pay all or part of a buyer’s agent’s commission. Someone selling a home on their own, for example, might state in their listing that they will not negotiate fees with a buyer’s agent. In this case, instead of hiring an agent, you might decide it’s worthwhile to try to work directly with the seller.
4. You Get to Work Alone
Even though they are legally required to represent your interests, you may be wary of dealing with a buyer’s agent. If you believe an agent would rush you into a deal or match you with the wrong house, you might feel more at ease handling it yourself.
When dealing with the seller’s agent, you’ll want to make sure you’re not overmatched. Think of it like negotiating a divorce settlement with just the counsel and expertise of the other party’s lawyer—it might not go well for you.
5. You’re Buying a New Home
If you’re only interested in buying a newly constructed home, you might be able to work out a deal with the builder directly. According to the NAR survey, about 6% of buyers worked with a builder or builder’s agent to purchase a home in 2020.
The Benefits of Working With a Realtor
The best tip for buying a home is not to do it alone. Realtors can assist you with every aspect of shopping for a home. From researching the market to representing you throughout sale negotiations, a realtor’s ultimate job is to provide you with peace of mind. When working with a realtor, they can help you find the home that meets your budget and your lifestyle. Additionally, real estate agents speed up the process of buying a home because their knowledge and experience help them be more efficient throughout the entire process. This means you will save both time and money and have the peace of mind in knowing all the details are being handled by a professional.
Are you interested in learning more benefits of working with a realtor?
Construction Openings
It’s not just the availability of materials impacting home builders today, it’s also the availability of labor.
The market could use more inventory. Home builders are trying to catch up.
You’ve likely read the stories about the cost and availability of materials making an impact on home builders’ ability to keep pace with demand.
It turns out they have another factor impacting them as well- labor.
There are more construction job openings than ever before in history.
This is according to a new report from the Bureau of Labor Statistics.
There are 410,000 job openings in the Construction Sector.
A year ago there were 253,000.
If you know of anyone looking for work, there is a good chance a home builder could use the help.
Must-Haves and Nice-To-Haves Lists
Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home.
A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.
Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.
Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.
These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.
Creating Your “Must-Haves” List
The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.
Here are some questions to ask yourself as you build your “Must-Haves” list:
- Where do you want to live? (Be as specific as you can.)
- What do you have now that you can’t live without?
- What are you missing now that you may need for the next several years?
If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.
Creating your “Nice-To-Haves” List
While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.
Here are some questions to ask yourself as you build your “Nice-To-Haves” list:
- What home upgrades are you willing to make?
- What is something you’d like to do in your house more often?
- What do you have in your current home that you love, but don’t need?
Searching for Your Next Home
These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.
Looking for a real estate agent who can help guide you through the home buying process? Connect with an Agent:
Equity Snapshot
CoreLogic just released their quarterly Home Equity Insights Report.
Their analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of over $3.2 trillion since the third quarter of 2020, an increase of 31.1% year over year.
In the third quarter of 2021, the total number of mortgaged residential properties with negative equity decreased by 5.7% from the second quarter of 2021 to 1.2 million homes, or 2.1% of all mortgaged properties.
Negative equity means a home is worth less than the amount owed on the property.
In Colorado, the percentage of homes with negative equity is even lower than the National average at 1.5%.
You’ve Decided to Sell Your Home—Now What?
Deciding to sell your home is one of the biggest steps you can make in your journey as a homeowner. You’ve likely gone through every scenario in your head and are eager to make sure that the next step for yourself and your loved ones is the right one. The shift from homeowner to seller can feel like a roller coaster, but with the right preparation, it will go smoothly. Here are a few ways to make this transitional period a little easier.
Rely on Your Support System
It’s common to experience waves of emotion when selling your home. Leaning on your support system—your Windermere agent included—can provide some stability.
Selling a home is an exciting endeavor to be shared with the people around you. Reach out to your friends and family to share the great news and start the conversation about how, where, and when they can help you. Whether it’s helping you pack, getting you out of the house during open houses, lending a hand on moving day, helping you get settled into your new home, or simply offering words of encouragement, involving your community will help make it all feel a little less overwhelming for both you and them. If you’re looking for a place to stay while you sell your home, someone in your network may have the perfect solution.
Ask Questions
There is no such thing as a stupid question, especially when selling your home. Whether you’ve sold your home before or this is your first time, each transaction in unique. Your Windermere Real Estate agent will be equipped to address your every question, so don’t be afraid to pause the conversation to ask a clarifying question if something doesn’t make sense.
For information on every aspect of what it takes to sell your home, visit the Selling page on the Windermere blog.
Create a Timeline of Selling Your Home
From prep work to closing, there are many steps to selling your home. It may be helpful to create a timeline or schedule of events, so you know both what you’ve accomplished and what’s coming next. Here’s an example of what it could look like:
- Prepare to Sell
- Move out & clean
- Stage the home
- Marketing Photos
- List the house
- Open House Weekend
- Accepting the Offer
- Review Offers
- Accept an offer
- Negotiate with buyer
- Buyer’s Inspection
- Moving
- Pack up
- Move
- Update all addresses and bills
Expect the Unexpected When Selling Your Home
There’s a fair amount of unpredictability in a transaction as intricate as selling a home, so it’s best to be prepared. A pre-listing inspection will let you know of any major issues with your property that might impact the price of your home and the eventual negotiations your agent will pursue with the buyer’s agent. This lets you make necessary repairs before you go on market, providing you with one last chance to increase your return on investment.
Keep your home secure with a few precautions while you sell. While your house is on the market, you’ll have a lot of foot traffic during open houses and private tours. You can protect your home by adding cameras in and around your home, hiding valuables in a safe, and talking to your agent about taking the appropriate safety precautions.
For more on what you can expect when selling your home, read our blog post on the 10 Costs Associated with Selling Your Home.
New Listings Week of November 28th
741 Elk Mountain Drive, Severance, CO 80550
Listing Agent: Dana Myers
MLS 955720
Welcome home! This beautifully upgraded 3 bedroom 3 bath home in the Overlook at Severance sits on a large corner lot and is sure to impress! Featuring a wide-open main level floor plan and beautifully updated kitchen with ample counter space, white cabinets, and stainless appliances. Your new meticulously cared for home also boasts a spacious and inviting living room! Upstairs, you’ll find all three bedrooms, including the primary suite with a full bath and large walk-in closet. Unfinished basement for use as it is, or for future expansion. Relax or entertain outdoors on your large backyard trex deck! Finished 3 car garage with space for all your toys! No HOA. Call (970) 381-2257 to schedule your private tour or click here for more information.
5845 Claret Street, Timnath, CO 80547
Listing Agent: Anali Roath
MLS 955927
This stunning Timnath Ranch home has everything you’re looking for. When you first walk in you’re greeted with soaring ceilings in the open entry and living room. As you transition into the dining area and kitchen you can see how much space you have for entertaining. Ample cabinet space and a large pantry mean you’ll never run out of room to store your necessities. The kitchen even has space for a table so you can enjoy the view of the pond out the back door. Boasting a fireplace with built in shelving, the family room is a great place to relax. Upstairs, the large loft offers endless possibilities as another living space. The brand new hand scraped hickory adds a luxurious feel to the master bedroom, make it your own oasis. 3 additional bedrooms on the upper level allow you to have all the space you need for guests, hobbies, or a home office. The large, finished basement features a workout room with high impact flooring and a theater room, get your sweat on or relax, your choice! Call (719) 310-9336 to schedule your private tour or click here for more information.
Why List Now
Why does it make sense to list a home now? Shouldn’t I wait until the Spring?
These are legitimate questions we hear occasionally from our clients.
It turns out there are several good reasons to list a home in December or January instead of waiting for April or May.
The first reason is low competition. Today there are only:
- 279 homes for sale in Larimer County
- 263 homes for sale in Weld County
- 2,151 homes for sale in Metro Denver
So, a home on the market today has high odds of standing out in the market versus the higher-inventory market in the Spring.
In addition to lower competition:
- Buyers looking in the winter tend to be more serious and motivated by tighter timelines
- Interest rates will likely be higher in the Spring which will impact the purchasing power of Buyers, and consequently, the selling power of Sellers.
Simple Tips to Make Your Move Easier
Your needs as a homeowner change over time, and you need the right home to fit those needs. Accordingly, it’s highly likely that at some point in your future you will experience another moving day. While moving can be challenging, there are resources to make it easier. If you are remaining in your current area, your Windermere agent can continue to be a valuable resource on communities, schools, utilities, transportation, recreational opportunities, and more.
If you are moving out of the area, your agent can help you with a referral to another reputable agent in your new community. Many agents also have relationships with real estate-related service companies in their area whom they can call upon for information regarding title, escrow, mortgages, temporary housing, and moving services. They can also help guide you in your search as you learn more about new communities and relocation services.
You’ve decided to move. Now what?
Once you have reached your decision, it’s time to gather information, start making decisions and get organized. Begin by creating a “move” file to keep track of your estimates, receipts, and other information. If you’re moving for a job, some expenses may be deductible, so you’ll want the paperwork when tax time comes.
If you are moving out of the area, start researching your new community and ask your agent for help in finding a referral agent in your new area. You’ll also want to determine whether you want to rent first or buy immediately. Your new agent should be able to help you with your decision. Once you know where you’re going, you’re also ready to get estimates from moving companies.
Closing one door, opening another
After you have chosen a moving date and either hired a moving company or reserved a rental truck, it’s time to wrap things up in your old neighborhood and start establishing relationships where your new home is located. This is particularly important if you are moving to a new town/city. You may want to ask your current doctors, dentists, etc. if they have any referrals on care providers in your new location. Be sure to check their recommendations on your insurance company’s online provider search list. Once you arrive, you may also want to ask new coworkers, friends or the school nurse for their recommendations.
Contact your children’s school and/or day care and arrange for their records to be sent to their new school district or day care. Call your insurance agent about coverage en route to your new home and also arrange for insurance in your new home. Remember to contact utility companies to disconnect, transfer or end service in your current home and turn on service in your new home.
You’ll want to file a change of address form with the U.S. Postal Service, either online or at your local office. If you don’t know your new address, have them hold your mail at the post office in your new locale. Don’t forget to cancel or transfer magazine and newspaper subscriptions as well.
If you belong to a health club or other association, contact them about ending or transferring your membership. Some clubs require written notice before cancellation. Finally, contact your bank or credit union to transfer or close accounts; if you have a safe-deposit box, don’t forget to clean it out before you leave.
Starting the countdown
With moving day in sight, it’s time to get organized. Here are a few items to check off your list before you start packing:
- Tie up loose ends. Be sure to send out an email or change of address cards with your new contact information to family, friends, and associates. Return library books and any other borrowed items you may still have.
- Triage your possessions. Determine what you are taking with you; what you are giving away to friends, family, or a favorite charity; and what is going to the dump or recycling center. If you have time, you can hold a garage sale or post items on craigslist.org or ebay.com.
- Clean up. Drain all gas and oil from your mower, other machinery, gas grills, kerosene stoves and lamps, etc., before loading them onto a moving truck. Empty, defrost, and clean your refrigerator at least 24 hours before your move, and prepare other appliances for moving as well.
- Have your car serviced. This is especially important if you are driving to your new home.
Packing strategies
If you are doing your own packing, start collecting boxes and/or buy them from your movers. It may take a few days to do your packing, so be sure to pack non-essential items first and label them carefully. If you have any valuables, it’s recommended that you take them with you as opposed to packing them. You risk the chance of losing those items if they’re packed away in boxes. It’s also smart to take along a box of essentials, including items such as toilet paper, paper towels, tape, soap, scissors, pens, paper, and your toiletries. That way you won’t have to track these items down once you’ve arrived in your new home.
For more information on how to make your move easier, visit our Moving Tips page here: How can I make moving easier?
New Listings Week of November 21st
201 Ranch Acres Drive, Loveland, CO 80538
Listing Agent: Kailee Harvey
MLS 955406
Hobby farm in town! 1.51 acres with room for your goats, chickens, horses or other animals; complete with tons of perennials & mature landscaping, large backyard, paver patio, & several sheds/outbuildings for animals & no HOA. Home has been recently updated & features 6 bedrooms, 3 bathrooms, a sunroom, 2-car attached garage & 1.5 car detached garage/shop. Your own slice of country but minutes to shopping and amenities. Homes don’t sell in this neighborhood often! New AC, newer appliances & hardwood floors throughout the main level, new carpet in the basement, and a brand-new wet bar/partial kitchen in the basement. Tharp custom cabinets in the kitchen with new granite countertops. This would be an ideal space for multi-generational living or for extra income, as the basement features 3 bedrooms, a full bathroom, a partial kitchen, living room and separate entrance from the garage or back patio. Call (970) 331-2868 to schedule your private tour or click here for more information.
1725 Springmeadows Court Unit B, Fort Collins, CO 80525
Listing Agent: Kyle Craft
MLS 955616
This lovely 2 bed/2 bath townhome style condo is located within the Springmeadows community and is what Fort Collins is all about! The location is ideal for anyone wanting to be close to trails, shops, breweries, restaurants, campus, and Old Town! Enjoy a low-maintenance exterior while still being able to make it your own with the covered patio in the back or with the garden beds in the front. With a few minor cosmetic improvements, this home will be perfect for nearly anyone wanting an affordable living situation in Fort Collins. Call (719) 244-7613 to schedule your private tour or click here for more information.
New Listings Week of November 14th
2576 Trio Falls Drive, Loveland, CO 80538
Listing Agent: Kelly Swift
MLS 955106
You can be in by Christmas! This move-in ready 2 bed/2 bath ranch style home features an open, bright floor plan. Enjoy the fully upgraded kitchen w/granite, SS appliances, 42″ cabinets, soft close drawers & pull outs throughout. Fantastic cork floors, newer lighter fixtures, custom shades and upgraded baths (primary w/heated floor!). Wonderful community with a pool, modern clubhouse, park, lakes for fishing and kayaking and a 4- mile trail! Easy access to I-25, HWY 34, hospital, restaurants, schools, & shopping. With main level living, and a 2 car attached garage this home was built for both comfort and entertainment. The HOA covers all exterior maintenance, snow removal, landscaping, paint, roof and lawn maintenance. Beautiful and bright home w/loads of natural light that would fit well as a primary home, vacation home or investment property! Call (970) 310-4876 to schedule your private showing or click here for more information.
7011 W 11th Street Road, Greeley, CO 80634
Listing Agent: Rondi duPont
MLS 955102
Looking for a home with some elbow room? This 2 story home is situated on a half an acre with NO HOA in West Greeley. The 4 bedroom 4 bathroom home boasts an inviting living area with vaulted ceilings and a fireplace, a separate dining room and a kitchen with stainless steel appliances. The walkout basement is finished to give additional space to spread out in the home. But wait, there is more! The property has a 35×24 HEATED Workshop and 8ft garage door. Bring your RV and Camper! The entire property is fenced with a beautiful wood privacy fence. There is a romantic gazebo to enjoy the large back yard and an additional shed and chicken coop. This home has so much to offer. Don’t miss seeing it! Call (970) 401-0123 to schedule your private tour or click here for more information.
880 E State Highway 56, Berthoud
Listing Agent: Katie Robinson
MLS 955058
Spectacular, completely fenced horse property sitting on almost 5 acres. Wonderful views of Longs Peak and Front Range in a quiet location close to downtown Berthoud & I-25. For all those horse lovers: 3-stall Cleary Barn & working horse arena w/ 2 acre grazing pasture. This freshly painted home features hardwood floors, rich wood trim, gourmet kitchen with custom cabinetry, Corian countertops, glass cooktop, wall oven, double sink, SS refrigerator, & large island that opens to comfortable family room with gas fireplace. West side of the home is designed to take in the views from all rooms. Living room & primary bedroom have large bay windows with seating areas. Large veranda to enjoy sunsets & warm evenings. Fully finished basement w/ large game room, wet bar, media room & a guest suite. Great for entertaining indoors or out! Greenhouse & beautiful outdoor living space with brand new pergola to the east. Ditch rights included to lease water with potential of 250 bales of hay per year. Call (970) 430-9630 to schedule a private tour or click here for more information.
881 Village Drive, Milliken, CO 80534
Listing agent: Alexis Foster
MLS 955393
Come see this stunning, better than new, 2-story home. 881 Village Drive, Milliken has so much to offer including its amazing location across the street from the neighborhood school and open space. Recent updates include; water heater, all new interior paint throughout the home, mudroom remodel, additional electrical outlets in the garage including 220-volt wiring for a future garage heater/ac unit, garage insulation, and drywall, new light fixtures throughout the home, main floor bath remodel and new Stainless Fridge and Dishwasher in the kitchen just to name a few. Fully landscaped and fenced yard with a huge patio, perfect for summer BBQs. Full unfinished basement with bathroom roughed-in provides room to expand. This home is conveniently located for commuters, just minutes from I-25, Hwy 257 and Hwy 85. Additional amenities include a community pool, park, and recreational center. Call (970) 310-6999 to schedule a showing for this pristine home or click here for more information.
2708 Stonehaven Drive, Fort Collins, CO 80525
Listing Agent: Jon Holsten
MLS 955451
Fantastic four-bedroom home in the coveted English Ranch neighborhood! Boasting a wide-open floor plan with high vaulted ceilings and tons of natural light, your new home also features a large kitchen with lots of counter space and plenty of storage along with a separate dining area and living room with gas fireplace. Sprawling main level primary suite with 5 pc bath and large walk-in closet. Upstairs, you’ll find a loft, two additional bedrooms and a bath. Enjoy more elbow room in the finished basement with an oversized fourth bedroom, large rec area, bath and ample storage. Relax or entertain on the large outside deck overlooking the low-maintenance back yard. Three-car garage. Excellent location with paved walking trail to nearby schools, shopping and restaurants. Quick access to I-25. An incredible home and terrific value! Call (970) 237-2752 to schedule your private tour or click here for more information.
700 Frontier Court, Fort Collins, CO 80526
Listing Agent: Jon Holsten
MLS 955457
Beautiful four-bedroom ranch-style home at the end of a cul-de-sac in central Fort Collins! Your new home sits on a huge lot and boasts updates throughout. From the great kitchen with plenty of counter space and storage — to the family room with fireplace, separate living room and remodeled main bath — this home is move-in ready! Large primary suite with full bath and two additional bedrooms on the main level. In the finished basement, you’ll find a large rec area, additional bedroom with private bath, and an office/non-conforming fifth bedroom. New exterior paint — and new interior paint through most of the home. Relax or entertain on the front deck or in the incredible back yard with mature landscaping and large trees. Tire swing included! Close to schools, shopping, restaurants and everything this great community has to offer. An excellent home and incredible value! NO HOA! Call (970) 237-2752 to schedule your private tour or click here for more information.
