Archive for January, 2012

Rental Income from Colorado Real Estate

by BULL Forms in Real Estate with No comments

Looking for Rental Income from Colorado Real Estate?

Look no further Rental Income from Colorado Real Estate can provide that extra money you need.  Renting out your Colorado real estate can result in a steady, monthly stream of income. The great thing about renting out properties is that the income doesn’t end with a sale, but rather is continual for many years if you choose. There are some tips to follow if you plan to rent out your Colorado real estate.

Rental Income From Colorado Real Estate

photo by Arden

Look for Top Tenants Only

You should spend a little time and perhaps a little money to make sure your tenants are top-notch. This will result in regular rent and fewer problems than if you simply rent to the first person who calls your number. Ask for references for the past several years and actually call those references to determine the potential tenant’s rental history and whether they’ve had any issues with previous landlords. Anything that might raise a “red flag” should be looked at more in-depth, and if red flags are raised, it’s probably time to move on to another potential tenant.  There are several companies that will perform in-depth background checks that include criminal backgrounds and credit checks.

Market Well

You’ll want to market the property well, both in the newspaper and online. Craigslist is a great option for you, as many people check there when trying to find a place to rent. Search Craigslist in your area to see if there are a good amount of listings in the area.  If there are not it is possible that most rentals are in the MLS.  It might be beneficial to contact a real estate professional to inquire about listing your property for rent. If you do list your property online, make sure you create an eye-catching headline that offers up a few benefits about the property. For instance, if it’s across the street from an elementary school or a park, use that in your headline. “3-bdrm 2-bath home across from park, new appliances – $700 monthly” is a great way to incorporate those benefits into the headline. This will draw the eye of potential tenants who have smaller children and want a nice place to live.

Make Your Expectations Known

During the process of selecting a tenant, it’s important to make your expectations known. For instance, if you want the rent paid on a certain day of the month, let your tenant know that and warn them that if the rent is not paid that day, there will be a late fee that they must also pay. If you want the lawn maintained, make sure they know it’s their responsibility and suggest a schedule that they use to maintain the lawn. It’s best to have these things drawn up in your contract so that there’s no confusion and the tenant knows exactly what is expected of him or her.

Know the Law

Finally, if you plan on generating rental income from Colorado real estate properties, make sure you’re familiar with the tenant/landlord laws in the state and county your property is in. This way, when you run into any situation, you will know precisely how to act so that you’re in compliance with the law.  If you are not familiar with the tenant / landlord laws it is probably best if you contact a real estate agent that is.

This is a great investment opportunity and can be a great monthly income stream. As long as you research beforehand and know your rights and the law, you can make your Colorado properties into lucrative investments.

DORA updates CREC contracts for 2012

by BULL Forms in Forms with No comments

Updated CREC forms from DORA

The following is a list of newly updated forms effective as of the first of the year in Colorado.  BULL Forms has already updated these CREC Contracts in the system. Enjoy.

Sales Contracts

  • CBS1-10-11   –  Contract to Buy and Sell Real Estate-Residential
  • CBS2-10-11   –  Contract to Buy and Sell Real Estate (Income-Residential)
  • CBS3-10-11   –  Contract to Buy and Sell Real Estate-Commercial
  • CBS4-10-11   –  Contract to Buy and Sell Real Estate-Land
  • CBSF1-10-11  –  Contract to Buy and Sell Real Estate (Colorado Foreclosure Protection Act)

Addenda to Contracts

  • LB36-10-11   –  Licensee Buy-Out Addendum to Contract to Buy & Sell Real Estate – This form is to be used when a broker enters into a contract to purchase a property either: (a) concurrent with the listing of such property; or (b) as an inducement or to facilitate the property owner’s purchase of another property; or (c) continues to market that property on behalf of the owner under an existing listing contract.
  • PCO70-10-11    –  Post Closing Occupancy Agreement
  • RA33010-11    –  Residential Addendum to Contract to Buy & Sell Real Estate
  • SSA38-10-11   –  Short Sale Addendum (Contract to Buy and Sell Real Estate)
  • SSA39-10-11   –  Short Sale Addendum (Seller Listing Contract)

Disclosure Documents

  • SPD19-10-11   –  Seller’s Property Disclosure (All Types of Properties)
  • SPD29-10-11   –  Seller’s Property Disclosure (Residential)
  • Estoppel Statement   –  Estoppel Statement

Notice Documents

  • NTC43-10-11   –  Inspection Objection
  • NTC43R-10-11   –  Inspection Resolution
  • NTT44-10-11   –  Notice to Terminate

Counterproposal

  • CP40-10-11   –  Counterproposal

Agreements to Amend/Extend Contract

  • AE41-10-11   –  Agreement to Amend/Extend Contract

 

 


Finding Great Real Estate in Colorado

by BULL Forms in Real Estate with No comments

Looking for Great Real Estate in Colorado

Colorado is a beautiful state that offers something for everyone. Gorgeous mountains are just part of the landscape, and Colorado offers up a full four seasons; changing leaves in the fall, snow in the winter, mild weather during the spring and hot summers. It’s a wonderful state to purchase land and real estate, but there are some things potential home buyers or real estate investors should know before purchasing Colorado real estate.

Finding Cheaper Real Estate

One of the best ways to find affordable real estate in Colorado is to check just outside the major cities and tourist areas. For instance, rather than looking for a home located in Denver, try finding a home in the nearby Littleton or Idaho Springs. Real estate is cheaper in these areas, but the drive to Denver is very short so it’s easy to enjoy all the draws of the city. With location being one of the most important aspects of finding real estate, looking just outside your target area can help you save thousands of dollars on a home or real estate property.

Foreclosures

Looking for low-priced foreclosures in Colorado is a great idea, especially considering that this state is often at the top of the list for highest number of foreclosures in a state. Investing in a home or property in the middle of a foreclosure can save you thousands of dollars. There are a few things you’ll want to keep in mind, though. Foreclosed Colorado homes may be damaged homes, and it could take money to make them habitable or “flip” them into a property that is going to sell for a profit. Make sure you understand the full condition of a property before committing. Looking for foreclosed homes in Colorado is a great way to find affordable real estate.

The Colorado Water Real Estate Issue

One thing you should know about before purchasing real estate in Colorado is that many pieces of Colorado property are simply no good because the owners cannot get running water to the property. Because Colorado is naturally a dry state, and because nearby large cities have purchased up most of the Colorado water supply, there are many pieces of property where adequate water supply is simply out of the question. In fact, those who sell property in Colorado are required under the Colorado House Bill 07-1156 to supply buyers with information regarding how the water is supplied to the property and what condition the water supply is in. It is recommended that you contact the company or individual supplying the water to find out the condition of the water supply before buying or committing to Colorado real estate properties.

Consider Hiring an Agent

While you can certainly find great real estate in Colorado on your own, hiring an agent may be a good move. Agents familiar with the area can help you secure a great piece of real estate that is promising, whether you plan to live there or sell it for profit. Be sure to research the agent and agency to ensure that they’re trustworthy, and you can really save a lot of money on Colorado real estate.

Overall, Colorado is a great place to invest in, but it’s important to do your research first and be sure you know what you’re getting into.

Focusing on Curb Appeal can Help Sell a Home

by BULL Forms in Real Estate with No comments

Curb Appeal In Colorado Matters

Colorado features some of the most beautiful homes and natural areas in the United States. However, when it comes to selling a home, it’s important to do what you can to enhance the natural beauty of the land and the aesthetic features of the home. There are some great ways that real estate agents can focus on the curb appeal of a home to increase the chances of selling it.

Colorado Curb Appeal Real Estate

photo by sisterbeer

Taking Care of the Lawn

Make sure the lawn is cut and weeded, to give the home a well-manicured look. Weed any flowerbeds and plant season-appropriate greenery or flowers. Trim all the hedges and make sure trees are pruned. Many simple things can update the look of a lawn, including mulching trees and flowerbeds, and adding paths from garden pavers or stone.

The Exterior of the Home

If necessary, clean the exterior of the home with a pressure washer, or repaint it to give it a pretty, fresh look. Gutters can be cleaned and painted to match the trim of the home, and any loose siding should be repaired as well. Make sure that the windows are cleaned and polished, as well as any fixtures attached to the exterior of the home, from doorknobs to mailboxes and decorative accents.

Sidewalks

Ensure that no weeds are growing beside or through the sidewalks and check for cracks or crumbling on walkways, steps, and patios. Make sure the sidewalks are swept and cleared, or in winter, salted to prevent ice build up. Edging walkways with flowers or greenery can instantly improve the curb appeal of a home and doesn’t cost a lot of money.

Clutter

Ensure that all exterior areas of the home (sidewalks, lawn, patios, etc.) are free of clutter and that personal items like bicycles, children’s toys and gardening equipment are stored in garages or sheds. The garage door should be kept closed, and all other outdoor items should be neat and tidy. Curb appeal can be improved by symmetrical additions of hanging plants and flowers near porches and patios.

The Roof

Make sure there are no missing or broken shingles on the roof, and that the chimney (if the home has one) is clean. Ensuring that the roof is clean and free of pine needles, dried leaves and other debris is another great way to increase the curb appeal of a home.

Other Personal Items

Any other personal items belonging to the family (such as RVs, ATVs, and other large items) should be stored in another place while the home is being listed for sale. Patio furniture, sand boxes, swing sets and other personal items can take away from the curb appeal and prevent potential owners from being able to imagine the home as theirs. These should be moved to a new location so the lawn and surrounding areas act as a blank canvas for potential homebuyers.

Making sure the curb appeal of a home is wonderful is one of the best Colorado real estate tips, and allows potential homebuyers to see the value of a home before they ever step foot indoors.

Thinking of selling your home and need the Colorado Real Estate Forms ?