Talavera Real Estate: June 2014

You're beginning to feel a little cramped in that home that seemed so perfect several years ago. There just aren't enough bedrooms anymore, or adequate storage space or a big enough back yard for the kids and the dog to play. Or Maybe there is another little one on the way - a baby, not a dog!

Many Colorado residents are facing a similar dilemma these days. While that small bungalow or rancher made perfect sense back when you bought it, you are quickly realizing that you have outgrown your home. The good news is that this may actually be a good time to move up to a larger home or one in a neighborhood you've been eyeing.

Up until recently, many homeowners who bought just before the peak of the housing market had little opportunity to move up to a larger home. Many of them were "underwater" on their mortgage, meaning they owed more on their loan than the home was worth. But that has changed in the past couple of years.

The number of homeowners who are seriously underwater on their mortgage, meaning their debt exceeds their home value by 25% or more, has fallen since the recession, according to housing data firm RealtyTrac. The number dropped to just 17% nationwide in the first quarter of 2014, down from 26% a year ago. That statistic indicates that more homeowners may be able to pull equity of their properties to move up to another home.

With home prices in Colorado steadily rising, there's a good chance your home is worth more than you think.

Getting into a larger home isn't the only reason homeowners typically think about moving. Others consider "trading spaces" because of job re-locations or a desire to get into a certain school district or simply because they've been pining after that dream home in a nicer neighborhood. Others may actually be thinking about downsizing as they enter retirement or leaving the area for a retirement destination elsewhere.

If you've been kicking around the idea of moving up, downsizing or simply trading spaces, there are several reasons why the current housing market may work in your favor right now:

Entry-level homes are in greater demand. One of the hottest segments of the housing market has been low to mid-priced homes in many communities. Well-qualified first-time buyers and others are out there looking for a home while interest rates are still historically low and prices are relatively affordable. In some areas, there are multiple offers for the best properties

Inventory is still low. The number of homes on the market remains very low by historical standards. While there's no shortage of buyers these days, there certainly is a shortage of good home listings for them to pick from in many areas. The law of supply and demand may work in your favor.

Mortgage rates are still near historic lows. Low rates help make homes more affordable - including yours and the home you want to move up to. With 30-year fixed rate mortgages still hovering in the low 4% range, buyers can stretch their housing dollars a lot further these days.

Making the decision to move up to a larger home is just the beginning, of course. There are a myriad of issues that go into selling your exiting home and getting into a move-up property that's just right for you. That's where a professional Realtor® can help. Working with a seasoned agent who knows your market may be the best move you ever make.

GIVE ME A CALL OR SEND ME AND EMAIL AND WE'LL GET STARTED TODAY!!!

Hiring A Color Consultant

Problem: You'd like to spruce up your house, but you can't seem to find the right red paint to complement your olive green couch.

Enter: The color consultant. He/She can help you select colors that work for your space and spare you from testing 15 different reds on your walls. She can also lead you to unexpected, possibly more daring choices.

Cost: Around $50 to $75 an hour (enough time to pick colors for two rooms).

To Find One: Contact the International Association of Color Consultants/Designers and iaccna.org

Consider Doing It Yourself When: You have the time and the inclination to sort through paint chips and design magazines for inspiration. For ideas, try Choosing Colors, by Kevin McCloud ($25, amazon.com)

Hiring A Carpenter

Problem: Your bookcases are buckling under their heavy load.

Enter: The carpenter. A professional knows exactly what to do, from choosing the right veneer to finding the proper wall studs that will prevent it all from crashing down.

Cost: Varies considerably. Count on spending at least a few hundred dollars for multilevel shelves.

To Find One: Ask friends and neighbors for referrals, or contact your local building association at the National Association of Home Builders' website (nahb.org)

Consider Doing It Yourself When: You relish the chance to act as a handyman and break out your power drill. Find a kit with instructions and hardware at a home-improvement or hardware store.

Consulting an Energy Auditor

Problem: Your energy bill has gone through the roof, and you still feel a chill.

Enter: The energy auditor or rater. These pros come armed with sophisticated equipment to trace even tiny air leaks and will prioritize problem areas in your home. Some local utility companies will send a contractor to you for a free basic inspection.

Cost: Zero to $350.

To Find One: Check out energystar.gov or the Residential Energy Services Network at natresnet.org for a certified rater.

Consider Doing It Yourself When: You want to know your house from the insulation out. Check you local utility company's website. Many have relatively easy instructions for D.I.Y. energy audits. Or see the U.S. Department eere.energy.gov.

Selling On eBay

Problem: Your china cabinet is full of unused mint-condition heirlooms.

Enter: The eBay drop-off store. These independently owned stores handle everything from photographing to shipping. Stores known as Power Sellers, such as iSold It, may fetch a higher price than you can, and there's usually no charge if an item doesn't sell.

Cost: A commission of up to 35% of the sale.

To Find One: Go to i-soldit.com for stores, or look under Consignment Services at auctionbytes.com.

Consider Doing It Yourself When: You are comfortable uploading digital pictures and have time to pack and ship the goods. Setting up an eBay account and posting a picture is free. If you sell, eBay keeps a commission of 5.25% to 1.5% of the sale, depending on the selling price.

Cleaning Your House

Problem: Despite your best efforts, your house always seems to be a disaster zone.

Enter: The house cleaner. One person or a whole crew will do the dirty work for you, whether it's a weekly visit or a job every few months-all in a couple of hours.

Cost: $80 to $400 a visit, ranging from maintenance to a deep cleaning.

To Find One: Ask friends for referrals, or try the National Cleaning Directory (cpimembership.com).

Consider Doing It Yourself When: You're picky about where you stash Bobby's toys. It may take a bit longer to get the job done, but you'll have the peace of mind of knowing what's where.

Finding Carpet, Upholstery and Curtain Cleaners

Problem: Your carpet is stained, and your upholstery and curtains are looking dingy enough to darken anyone's mood.

Enter: Curtain, upholstery, and carpet cleaners. They'll work with heavy equipment and cleaning solvents for a deep cleaning that will extend the life of your home's fabrics.

Cost: About 25 cents a square foot for curtains, $12 to $25 a linear foot for upholstery, and 30 cents a square foot for carpets.

To Find One: Ask around, or look up Carpet and Upholstery Cleaning in the Yellow Pages.

Consider Doing It Yourself When: It's a small job, the stains are minor, or it's an in-between maintenance job. For less risk of permanent damage, know the type of fiber and stains you're dealing with.

Restyling a Room

Problem: You have a living room full of lovely furniture, but the arrangement isn't working.

Enter: The professional restyler. Also called re-decorators and interior refiners, restylers will pop into your home, look at what you've got, and rearrange it, giving your old furniture new life.

Cost: $200 to $350 a room.

To Find One: The Interior Redecorators Network (interiorredecorators.com) has a directory of local restylers.

Consider Doing It Yourself When: You want to learn the tricks of the styling trade. One book you might want to consult is Home Therapy (Perigree, $20, amazon.com), by Lauri Ward.

Handling A Computer Snafu

Problem: Your home computer has taken mutiny to a whole new level.

Enter: The home-technology consultant. A pro will save you time on tasks like setting up a computer and rescuing a hard-drive crash and make all systems go by the end of setup.

Cost: $100 to $250 a visit.

To Find One: Find a tech specialist nationwide at Best Buy stores or geeksquad.com, or servicemagic.com.

Consider Doing It Yourself When: You have a knack for technology and aren't intimidated by the jungle of wires inside your machine's guts. For live troubleshooting help, call a manufPacturer's 800 number and be prepared for a wait and perhaps a fee.

Selling Your Home

Problem: You have been living in a neighborhood for many years and it get's re-zoned for fraternity and/or sorority housing at your nearby college.

Enter: The Real Estate Professional. A pro will come in and evaluate your home for what it is TRULY worth on the market. The pro's job is to make sure you net as much profit from the sale of the home, also to make sure that the process goes smoothly with as little hiccups as possible while also keeping you out of harms way of the huge liability that could come with selling your home.

Cost: Average is 6% of your sale price. But remember the agent selling your home NEVER sees the full 6% in his/her pockets. That cost is immediately split with the other agent that brings a buyer, or in almost all cases if your agent brings a buyer of their own, the agent will most likely cut their commission appropriately.

To Find One: If you are in the Denver Metro Area visit www.coloradohomes.com/juliantalavera. If you are elsewhere in the country or the state of Colorado ALWAYS visit realtor.com or coldwellbanker.com

Consider Doing It Yourself When: NEVER! You do not want to deal with what could be a nightmare of liability issues. Lawsuits are a common thing in today's day and age and you could not only risk losing your would-be equity, but also much MUCH more!