The Dumbest FAQs Ever!

Ok…We gotcha! This will be a new feature on my website where we add three or four different questions per month with my notoriously long-winded, but thorough answers!

Each FAQ is less than a 2 minute read. 😊

Is there such a thing as a Perfect Durango House?

Is there such a thing as a perfect house? The short answer: No, heck no, absolutely no! 🙂

As simple as that observation would seem, I can’t tell you how many buyers we meet who believe that if they look long enough and hard enough… that their perfect home is out there. We tell buyers, “Even if you find a great lot and then build…..it still will not be perfect.” (See the 3 rules of building below.) To help buyers read more…

Is my broker representing me or the seller?

Do you know if the broker working with you to buy a property is actually on your side?……or is he really representing the seller? You need to understand real estate agency in this state.

In Colorado there are three choices of how buyers and sellers are represented. (1) Seller’s Agent where the broker is working for the seller to get him the best deal, the best price and the best terms. The broker is an advocate for the seller and is actually adversarial read more…

What is FICO scoring?

FICO scores are used by lenders to pre-determine the type of credit risk you are expected to be. The score is a numeric value of all the information in your credit report. FICO is an acronym for Fair Isaac Co. which was the company that founded the system. Scores range from 300 to a high of 850. Scores from 620 and higher are considered “A” grade paper. Scores lower than 620 are considered “B” grade paper. If your score is read more…

“Buydown points” is that a good idea for me on my new loan?

When a buyer takes out a loan on a property, the lender will often times ask for the borrower to pay a “point”. The money goes to the lender to increase the yield on the loan. One point is defined as one percent of the loan amount……not one percent of the purchase price… read more…

Adjustable rate loan-is that a good idea for me?

Let’s start with the basics. An ARM would be any loan where the interest rate can change or adjust during the term of the loan. Some ARM’S adjust every 6 months; some once per year; others every three, five or seven years. In recent years lenders have added a “hybrid” loan product. During the first several years read more…

Homeowner’s Insurance

Every home or condo you buy needs to be covered by insurance in case of fire, tornado, etc. It is there to protect you from a major loss of your investment. There are 3 parts to most policies… read more…