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Negotiating With A Builder

Thursday, June 14, 2012



Negotiating With A Builder


Before you talk to a builder, let them know that you are working with an agent, this will change their tune entirely. If you are building in Colorado Springs, then call Travis at so I can negotiate for you. It could save you thousands....




Negotiating With A Builder Negotiating With A Builder



Buying a home in Colorado Springs from a builder is somewhat different than buying a Colorado Springs resale when it comes to negotiating the contract. In a better market, a builder who is building a house for you would not negotiate at all. They have deep pockets and will wait until a buyer comes along willing to pay their price. Also, if they discount one house, they risk having to discount the entire community because the houses won't appraise when they try to sell at full price if they have been discounting prices on some.

Even in the Colorado Springs market, the best time to negotiate with a builder is when a house is finished, when they are closing out the community or when they have just started the community.

If you are building a house in Colorado Springs , asking for them to come off the price of the house is almost 99% guaranteed to be turned down for the reasons above.

Now, how much would they negotiate? If you are building, decide some things you want in the house and ask for them. Expect not to get all of them, but maybe one or two. Upgrades in appliances, extra landscaping, surround sound, or tile in place of carpet are some suggestions. Colorado Springs builders have steeply discounted their prices during the last couple of years, cutting their profit margins to where they can still sell homes but sometimes they are breaking even or even losing money just to get the home sold and keep their contractors busy – keep that in mind.

Finally the question always comes up – should I use a real estate agent to buy a new construction home?

The advantages of having an agent help you purchase a new home are the same as those for purchasing a resale home. We can provide you with valuable insight into the Colorado Springs new construction industry, help you find the perfect home quickly, and then provide you with expertise in contract writing, negotiation, and closing assistance. The builder has a professional real estate representative who watches out for HIS or HER best interests, and you deserve the same expert representation watching out for YOURS!

Buying a new construction home is a little more difficult and time-consuming than buying a resale home. Having experience with Colorado Springs Home builders, I have a rapport with them and a database of information about subdivisions, floor plans, etc. It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or a build-to-suit home. These transactions are complex and the contract details must be exactly in order to protect you and to ensure that you get exactly the home you want!

Also check out our blog on How To Choose A Lot

If you are considering purchasing a new construction home and need the assistance of an experienced realtor to help with negotiations and contracts, contact us now info@turnercoloradohomes.com

Thank you and sincerely,

Turner Associates
 

Green Mountain Falls Real Estate

Tuesday, June 12, 2012



Green Mountain Falls Real Estate


Need a Realtor that knows Green Mountain Falls Real Estate?


Call Travis


or if you are contemplating selling your home in Green Mountain Falls receive your free GREEN MOUNTAIN FALLS HOME VALUATION


Are you looking for all the available real estate in and around Green Mountain Falls with one simple search? We've already done the work for you:










$0 - $650,000$650,000+

Green Mountain Falls Real Estate Green Mountain Falls Real Estate

Green Mountain Falls is a great little town on the side of Pikes Peak. An excellent place to live and raise a family, Green Mountain Falls is a small mountain town and that is close enough to attractions and job market of Colorado Springs. Visitors have known Green Mountain Falls as a fantastic destination for a long time - an excellent choice for seekers of a wonderful mountain vacation. Long before the town existed, a trail ran by the site of present-day Green Mountain Falls. This trail, known as the Ute Pass Trail, was used first by the Ute tribes, then Spanish explorers and finally by white settlers moving west. This scenic mountain community was one of three towns set up as vacation spots first for dust-weary Kansans, then upper-class Easterners. Today, the trail has been paved over and is still used as Route 24.

As far as dining is concerned, don't miss the Black Bear Restaurant, which offers a variety of cuisines, or for a more romantic setting, enjoy a candlelight dinner at the Columbine Inn. For longer stays, private cabins are located on Gazebo Lake, which marks the centerpiece of Green Mountain Falls. In addition, the Outlook Lodge, built in the Victorian style in 1889, provides a leisurely getaway for couples of all ages.

Stones, Bones and Wood, a modern trading post, has one-of-a-kind crafts by local artisans, including jewelry and leather goods.

Outdoor enthusiasts flock to the Pike National Forest and its wide range of activities, from driving up 14,110-foot Pike's Peak to camping in areas such as picturesque Guanella Pass.

If you are interested in more information on Green Mountain Falls Real Estate, or buying/selling in the Chipeta Park area– Contact Turner Associates Colorado Springs Realtors below and we will be happy to assist.  thank you and sincerely, Turner Associates

info@turnercoloradohomes.com
 

Falcon Estates Colorado Springs

Tuesday, June 12, 2012



Falcon Estates Colorado Springs


Need a Realtor that knows Falcon Estates in Colorado Springs?


Call Travis


or if you are contemplating selling your home in Falcon Estates receive your free FALCON ESTATES HOME VALUATION


Want to see all the available listings in Falcon Estates in Colorado Springs with one simple search? We've already done the work for you:










$0 - $650,000$650,000+

Falcon Estates Colorado Springs Falcon Estates Colorado Springs

Falcon Estates is a great Colorado Springs Neighborhood nestled right in the heart of northern Colorado Springs. If you are looking for lots of land with a rural feeling but still want to be close to the necessities of being in town, the Falcon Estates neighborhood may be just right for you. You can still find barns within Falcon Estates and and yes there are properties that are zoned for horses. All kinds of shopping centers, malls, restaurants, theatres, and much more can be found right around the corners from tis hidden neighborhoods. Easy routes to get around town are located right near Falcon Estates. These key veins for transportation include Woodmen Rd. and Academy Blvd. with I-25 just minutes away. Falcon Estates in Colorado Springs is serviced by Academy School District 20, one of the top rated school districts in the state.

For further questions on if Falcon Estates would be a good fit for you and your family, contact Turner Associates Colorado Springs Realtors below at info@turnercoloradohomes.com

Thank you and sincerely,

Turner Associates
 

Best Neighborhoods In Colorado Springs

Tuesday, June 12, 2012



Best Neighborhoods In Colorado Springs


Need a Realtor that knows all the best neighborhoods in Colorado Springs?Call Travis (719) 244-3645.Are you trying to decide what the best neighborhoods in Colorado Springs are? We've already done the work for you, we've even included a pre-populated home search for you to see all the available listings in each of the 5 best neighborhoods in Colorado Springs:Best neighborhoods in Colorado Springs









$0 - $650,000$650,000+

The Broadmoor

Old money mixes with new money in the city's most prestigious neighborhood. Built during the 1920s, 1930s and 1940s, these old mansions have been joined by pricey remodels and a few new mansions, most within walking distance of the historic, five-diamond Broadmoor hotel and resort.

Best Street to be on/near: Broadmoor Avenue

Who are my Neighbors? Doctors, lawyers and real estate developers. Don't be surprised to see golf carts parked in garages. Most folks here know their neighbors and rub elbows with them at the hotel's top restaurants and golf courses.

Also Consider: Broadmoor Bluffs

Built in the 1980s, it features large homes on large lots covered with scrub oak and frequented by wildlife. It's more affordable than old Broadmoor but draws many of the same type of residents. They also enjoy the same great school district -- Cheyenne Mountain -- and have great views of the city lights.











$0 - $650,000$650,000+

Old North End

If you love history and have the money, this area north of downtown is for you. The area is a mix of large, stately homes built in the late 1800s and smaller ones built later. Don't even think about remodeling or renovating until you run it by the vigilant homeowners' association. Many of these homes are on the National Register.

Best Street to be on/near: Wood Avenue

Who are my neighbors? Doctors, lawyers, college professors and other professionals as well as third generations of moneyed families. It's a liberal pocket in the otherwise conservative-leaning city.

Also Consider: The Audubon neighborhood

The Neighbors: On the other side of Nevada Avenue, the houses are relatively newer (1940s and 1950s) and more modest. It's a stucco-and-brick neighborhood of retirees and teachers, and professionals who don't want to shuck out the bucks for a more prestigious address. Young families are starting to move in and remodel.











$0 - $650,000$650,000+

Rockrimmon

This neighborhood was developed in the 1970s in the foothills, which means there isn't a straight street in the whole place and the houses look like they belong on The Brady Bunch. Odd-shaped lots sit on hillsides covered with scrub oak and it's not unusual to see a herd of deer or bighorn sheep stopping traffic.

Best street to be on/near: Oak Hills Drive

Who are my neighbors? Expect to see your neighbors going to work in uniform. A lot of higher-ranking military officers live here because of its proximity to the U.S. Air Force Academy. Also find white-collar professionals, teachers and business owners. Some choose this area because of its inclusion in the excellent Air Academy School District.

Also Consider: Peregrine

Same as in Rockrimmon but with higher incomes. Homes are larger, newer and more distinctive, and they sit on oversized and irregularly shaped lots with great city views and lots of wildlife. It's an area for people who value privacy.











$0 - $650,000$650,000+

Briargate

Briargate stretches over a huge chunk of real estate and offers affordable, roomy homes. Though it once looked like a cookie-cutter neighborhood, maturing landscaping and personal touches have set the homes apart from one another. Situated on a slight hill, it has good mountain views.

Best street to be on/near: Windjammer Drive

Who are my neighbors? Families are attracted to it for its affordability and because of its inclusion in the Air Academy School District. Many families have two working parents and many also serve in the military. Though still young in some respects, there's a strong sense of community.

Also Consider: Pine Creek

The Neighbors: This neighborhood is more upscale and personable than the adjacent Briargate. It's where Briargate residents want to move when they have the money to do so.






$0 - $650,000

Colorado Springs Golf Course Communities

Monday, June 11, 2012



Colorado Springs Golf Course Communities


Need a Realtor that knows Colorado Springs Golf Course Communities?


Call Travis


or if you are contemplating selling your home in a Colorado Springs Golf Community receive your free GOLF COMMUNITY HOME VALUATION


Want to see ALL the available homes on Golf Courses in Colorado Springs with one easy search? We've already done the work for you, some of the featured Colorado Springs golf course neighborhoods include Flying Horse, Broadmoor, Gleneagle and Kings Deer.










$0 - $650,000$650,000+

Colorado Springs Golf Course Communities Colorado Springs Golf Course Communities

Are you looking for homes on a golf Course in a Colorado Springs Neighborhood? There are several to choose from. For further questions on what golf course neighborhood would be a good fit for you and your family, contact Turner Associates Colorado Springs Realtors below at info@turnercoloradohomes.com

Thank you and sincerely,

Turner Associates
 

Colorado Real Estate Taxes

Monday, June 11, 2012



Colorado Real Estate Taxes


Colorado Real Estate Taxes Colorado Real Estate Taxes

If you're looking to sell your Colorado home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home in order to reduce your taxable gain on the sale of a home. The IRS home sale exclusion rule now allows an exclusion of a gain up to $250,000 for a single taxpayer or $500,000 for a married couple filing jointly. This exclusion can be used over and over during your lifetime, as long as you meet the following Ownership and Use tests. However, it cannot be used more frequently than every 24 months.

Ownership Test - During the 5-year period ending on the date of the sale, you must have: Owned the house for at least two years

Use Test - Lived in the house as your main home for at least two years and during the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home.

Tip: The Ownership and Use periods need not be concurrent. Two years may consist of a full 24 months or 730 days within a 5-year period. Short absences, such as for a summer vacation, count in the period of use. Longer breaks, such as a 1-year sabbatical, do not.

If you own more than one home, you can exclude the gain only on home. The IRS uses several factors to determine which home is a principal residence: place of employment, location of family members' main home, mailing address on bills, correspondence, tax returns, driver's license, car registration, voter registration, location of banks you use, and location of recreational clubs and religious organizations you belong to.

Tip: As we mentioned earlier, the exclusion can be used repeatedly, every time you reestablish your primary residence.

Note: Only taxable gain on the sale of your Colorado home needs to be reported on your taxes. Further, according to Colorado real estate taxes, loss on the sale of your main home cannot be deducted.

Improvements Increase the Cost Basis -

Additionally, when selling your Colorado home, consider all improvements made to the home over the years. Improvements will increase the cost basis of the home and thereby reduce the capital gain.

Additions and other improvements that have a useful life of more than one year can be added to the cost basis of your home.

Examples of Improvements -

Examples of improvements include: building an addition; finishing a basement; putting in a new fence or swimming pool; paving the driveway; landscaping; or installing new wiring, new plumbing, central air, flooring, insulation, or security system.

Example: The Kellys purchased their primary residence in 2002 for $200,000. They paved the unpaved driveway, added a swimming pool, and made several other home improvements adding up to a total of $75,000. The adjusted cost basis of the house is now $275,000. The house is then sold in 2012 for $550,000. It costs the Kellys $40,000 in commissions, advertising, and legal fees to sell the house.

These selling expenses are subtracted from the sales price to determine the amount realized. The amount realized in this example is $510,000. That amount is then reduced by the adjusted basis (cost plus improvements) to determine the gain. The gain in this case is $235,000. After considering the exclusion, there is no taxable gain on the sale of this primary residence and, therefore, no reporting of the sale on the Kelly's 2012 personal tax return.

Tip: Residential Energy Efficient Property Credit. This tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. The credit expires on December 31, 2016 and is 30 percent of the cost of qualified property. There is no cap on the amount of credit available, except for fuel cell property.

Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of this credit. Qualifying equipment must have been installed on or in connection with your home located in the United States; fuel cell property qualifies only when installed on or in connection with your main home located in the United States.

Not all energy-efficient improvements qualify so be sure you have the manufacturer's tax credit certification statement, which can usually be found on the manufacturer's website or with the product packaging.

Partial Use of the Exclusion Rules

Even if you do not meet the ownership and use tests, you may be allowed to exclude a portion of the gain realized on the sale of your home if you sold your home because of health reasons, a change in place of employment, or certain unforeseen circumstances. Unforeseen circumstances include, for example, divorce or legal separation, natural or man-made disasters resulting in a casualty to your home, or an involuntary conversion of your home.

Recordkeeping

Good recordkeeping is essential for determining the adjusted cost basis of your home. Ordinarily, you must keep records for 3 years after the filing due date. However, you should keep records proving your home's cost basis for as long as you own your house.

The records you should keep include:

1) Proof of the home's purchase price and purchase expenses

2) Receipts and other records for all improvements, additions, and other items that affect the home's adjusted cost basis

3) Any worksheets or forms you filed to postpone the gain from the sale of a previous home before May 7, 1997

For further questions or help on Colorado Real Estate Taxes and the implications of selling your home. Contact Turner Associates Colorado Springs Realtors today at

info@turnercoloradohomes.com

Thank you and sincerely,

Turner Associates
 

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