On entrepreneurship and skill management…

I heard a “nugget” today that has long resonated with me but that I’d never heard articulated in such a direct fashion.

Here it is, ready for it?

Don’t waste your own time. 

If there’s someone better or more suited to or at a task than you are in a business sense and hiring or partnering with them frees you to focus on your own skill set, that may be a good match.

Just some food for thought!

Tenant beware: READ your lease

Renters, it’s absolutely imperative you read the lease before you sign.  The lease is a legal contract, binding and enforceable.  Make sure you understand the terms of the contract you’re signing, to include penalties for exiting it and the presence of a military clause, if applicable.

Forbes has some additional advice, too.

*This isn’t legal advice.  Always consult an attorney when/where applicable and needed.

From the inbox: what’s the deal with this 1.75% refinance offer I just received?

Good question!  First, this is not legal advice, always consult a licensed and insured professional before making any decisions.  However, ALWAYS read the fine print.

In this case, with mortgage rates in the 4% range at the time of this writing, a 1.75% rate seems way too good to be true.

How can they do it then?

It’s likely an ARM (Adjustable Rate Mortgage), or a mortgage that has a variable percentage rate that tracks an index.  Or, it may have a balloon payment due at the end of a certain time period (e.g., a $50K payment due in one year, five year, etc.)

If it sounds to good to be true, it may be.

Questions, don’t hesitate to ask!

From the inbox: what’s the trend data here?

Good, complicated question! Short answer: it depends on price point, rooms, and a LOT of other variables.

Long answer: (or is this the short answer?) Give me a ring and we can talk specifics. Generally speaking, this is a “heat map” that shows the really active areas throughout the area. (Orange is HOT, yellow pretty warm, followed by dark and light green.)

Screen Shot 2014-10-19 at 5.09.05 PM

The homes in green are homes actively for sale that are 4 bedroom, 2+ garage, with a finished basement between 175K and 225K (taken as a random sample).

 

Give me a call and let’s talk analytics!  Rob — 719-440-6626

 

New listing! 4708 Laramie Sky — asking $234,000

Welcome home!! This open and bright floor plan is minutes from Peterson AFB and access to the Powers corridor. Close to dining, shopping, schools — this home also features 4 same level bedrooms. Gorgeous floors, built in cabinets and entertainment center make this a great space to entertain and live! Top of the line stainless steel Kenmore appliances adorn the eat-in kitchen and stay along with HE washer and dryer. The 3 car garage allows for ample storage and the home has a separate storage shed included.

Use me as your agent on this home and receive a $1500 military buyer credit towards closing costs or home upgrades!

Call Rob @ 719-440-6626 or email robthompsonrealtor@gmail.com

http://www.realtor.com/realestateandhomes-detail/4708-Laramie-Sky-Dr_Colorado-Springs_CO_80922_M27671-13794?cpPreview=true

From the inbox: How do I rent my house out?

Good question! For a variety of reasons, you may want to rent your house rather than sell…give me a ring and we can run the numbers to make sure you are informed of all the options. Investment property can be a good source of income but it’s not without risk. If renting is the way to go, check out, “How to Rent Your House: The Definitive Step by Step Guide” from Bigger Pockets!

Looking to buy, sell or rent in Colorado Springs, give Rob a call at 719-440-6626!

Underwater or in pre-foreclosure on a home? Please read this…

You have options. Don’t “walk away” from a home or let it go to foreclosure. The ramifications of this action can haunt you for years, to include surprises like the people in this article are finding out.

Allowing a home to go into foreclosure does not necessarily absolve you of the debt. The deficiency balance – the difference between the mortgage value and the ultimate sale value of the home – can chase you for years.

This is not legal advice; always consult an attorney or CPA as applicable. However, I can state that you have options in a pre-foreclosure situation.

Call or text me at 719-440-6626 and we can talk about those options.

Rob

The Agency – 201 E Las Animas Ste 105/107 – Colorado Springs, CO – 719-440-6626 – robthompsonrealtor@gmail.com