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26 Jan 2016

9 Tips for Developing Better Habits

By vclynn

Screen Shot 2016-01-26 at 9.35.37 AM 9 Tips for Developing Better Habits

(C) 2016 Reproduced with permission Buffini & Co.

More than half of adults make New Year’s resolutions each year. Unfortunately many give up after a few weeks because they haven’t turned their goals into habits. Whether you want to lose weight, save for a home or eat more vegetables, adopting good habits is sure to help you reach your goals.  Here are a few tips to help keep you on track this year:

1. Get motivated.

Why do you want to adopt the habit? How will your life improve once you develop this habit? What will happen if you don’t? These three questions will help you streamline your goal and maintain motivation when you need it the most. If you’re a visual person, write down your answers and post them where you’ll read them daily.

2. Start small.

Lasting habits take time to develop. Start by setting small goals that will eventually lead you to accomplishing your end result. By focusing on manageable changes at the beginning of your transformation, habits are more likely to become automatic.

3. Set reminders.

It’s easy to fall off track when you’re in the process of adopting a new habit. Consistency is key, and setting a reminder will help you build good habits.

4. Replace a bad habit.

If you want to kick a bad habit, it helps to replace it with a better one. Trying to quit eating sugary snacks? Keep carrot sticks or nuts nearby so when the urge to snack hits, you’re less tempted to reach for candy or other sugary treats.

5. Get others on board.

Tell people about the habit you’re trying to adopt. The more people you tell, the more accountable you’ll feel. And who knows? They may even become inspired to adopt a new habit themselves.

Screen Shot 2016-01-26 at 9.36.45 AM

6. Have realistic expectations.

Changes don’t happen overnight—they happen over several weeks and months of consistent action. Remember that achieving results only comes when you create consistency.

7. Do it for 30 days.

Studies show it takes 30 days to form a habit. Stay committed to your habit for a full 30 days. If it hasn’t become automatic by then, try to pinpoint the challenges you’re experiencing so you can try again.

8. Take on one habit at a time.

Although you may feel motivated to revamp your life and change several habits at once, doing so may prevent you from adopting any of them. Focus on one good habit at a time. Once it becomes routine, take on another new habit.

9. Reward yourself for a job well-done!

A small reward will keep you motivated, especially on days when it’s tough to stay on track. Think about how you’ll reward yourself ahead of time so you have something to look forward to.

 

Avoid these roadblocks to stay on track

• You’ve lost motivation. Remember your original intention for wanting to adopt the habit. Keep an inspirational quote or photo nearby to reignite your fire when you need it the most.

• You missed a few days due to an illness or travel. Don’t let missing a day or two derail you. Instead, try again the next day, or as soon as you are able. You only fail when you fall off track and stay there.

• Negative thoughts. Silence your inner critic by surrounding yourself with positivity. Read inspiring books, listen to upbeat music and seek out encouraging people.

20 Jan 2016

REColorado December 2015 Stats

By vclynn

December sale prices remain unchanged over 2014 for the Denver metro market.  The most significant trend in the Denver market remains to be the lack of inventory of homes for sale.  Average inventory decreased by a staggering 31% over December 2014.

Click the link below to view the .pdf of all December 2015 real estate statistics courtesy of REColorado.com

 

Dec 2015 REColorado Stats

 

02 Jan 2016

Housing and the Economy

By vclynn

Screen Shot 2016-01-02 at 5.23.34 PM

(c) 2016. Reproduced With Permission by Buffini & Co.

Buying a home not only impacts the homeowner’s financial situation, it also impacts the local and national economies. Since 2016 is an election year, there’s no doubt the economy and housing’s role within it will be a hot topic in the news. Let’s take a look at the impact of housing on the local economy and on the larger national economy.

Housing’s impact on the local economy

When you buy or sell a home, you not only build your financial portfolio, you benefit your local
economy as well. Typically, there are 26 services involved in a single real estate transaction in the 30 days before and after a real estate transaction has closed. Buyers and sellers may use services such as movers, painters and contractors during and after a transaction has closed. Additionally, buyers may continue to use these services and more while they own the home.
The Impact of New Homes
While the true economic impact of new home building varies by community, the National Association of Home Builders calculated the figures for a typical metro area.
Screen Shot 2016-01-02 at 5.30.45 PM
The Impact of Remodeling
Renovations contribute to the economy through the use of local labor and businesses, as well as permitting and other government-related fees. The National Association of Home Builders also conducted a study on the one-year impacts of residential renovations on the local economy. Spending one million in remodeling generates an estimated $841,000 in private income and an estimated $71,000 in government revenue.* It also creates an average of 11 local jobs.

Housing’s impact on the national economy

A nation’s gross domestic product (GDP) measures the economic performance of the country and is defined as “the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.”
In short, GDP measures how well a country, state or region’s economy is performing. Housing has contributed to more than 15% of GDP for the past 2 years.
According to the NAHB, housing contributes to GDP through residential investment (e.g., home building and remodeling) and housing services (e.g., rent including utilities, the estimated cost of an owner renting their residence and utility payments). It also indirectly impacts consumer spending—when homeowners have more expendable income or increased access to credit, they may buy more goods and use more services, which benefits the overall economy.
Housing comprised 15.45% of the nation’s GDP at this same time last year. Home building and remodeling made up 3.14% of this.
Homeownership Benefits the Community
Homeownership bolsters a community’s treasury through the collection of property taxes. The money collected from property taxes helps support infrastructure, police and fire protection, education and
community programs.
Additionally, studies from the National Association of REALTORS® show that homeownership has many social benefits, including:
• Increased civic participation and charitable activity
• Better health for homeowners
• Less crime
• Higher student test scores and high school graduation rates
• Higher social capital
Sources:
1. NAHB, HousingEconomics.com, September 1, 2015
2. NAHB, Local Impact of Home Building: Updated NAHB Estimates, April 1, 2015
3. Investopedia, http://www.investopedia.com/terms/g/gdp.asp
4. NAHB
5. NAHB Eye on Housing, June 24, 2015

01 Dec 2015

Save Money This Holiday Season

By vclynn

Reproduced with permission (C) 2015 Buffini and Company

 

Dec 2015 IOV 1

You don’t need to break the bank on gifts and decorations to make the holiday season memorable for your loved ones and friends.

5 Ways to Save on Gifts

1. Make a list and stick to it.

It’s easy to succumb to impulse buys while you’re shopping. If you want to watch what you spend, be sure to stick to your list.

2. Get daily deals delivered to your inbox.

Sign up for emails from sites like Gilt.com and Zulily.com, which offer discounts on popular brands for women, men, kids and the home each day.

3. Take advantage of in-store pickup.

In-store pickup allows you to save money on shipping fees by having your items delivered to your local store, instead of to your home or office.

4. Hit the sales.

Research sales circulars before you shop to make the most of your trip and enjoy big savings.

5. Play Secret Santa.

Do you come from a large family or have a large group of friends? Instead of buying gifts for everyone, each person draws a name from a hat and purchases a gift for that person. Be sure to set a spending limit that keeps everyone’s budget in mind.

 

Dec 2015 IOV 3  5 Holiday Décor Ideas for Less

Get inspired by your surroundings.

Collect natural materials such as pinecones or branches and decorate them with ribbons, paint and glitter.

Host a décor or ornament swap.

If you’re bored with your holiday décor and you have family and friends who feel the same about theirs, invite them over to exchange items. It’s less expensive than buying new items and you may find some new holiday favorites.

Get crafty.

Consider DIY decorations to save a bundle. Pinterest and other craft sites are treasure troves of inspiration for all holidays.

Dec 2015 IOV 4

3 Ways to Save Money on Holiday Cards

1. Send postcards.

It costs less to send a postcard than a regular letter or greeting card.

2. Make your own cards.

Websites such as VistaPrint.com allow you to upload photos and personalize your message for less.

3. Send e-cards.

Sending e-cards from websites such as AmericanGreetings.com or BlueMountain.com is a great alternative if you have a large holiday card list.

08 Sep 2015

Building Your Mountain Dream Home

By vclynn

2014-12-31 12.13.31

As an agent who has specialized in mountain properties, I often get questions from those wanting to buy land either for a mountain property, or their single family residence in the mountains. Most questions I receive center around the start up costs, and things to consider when buying a mountain property.  This article covers some of the most frequent questions:

What are my lending options 

When selecting a site to purchase, assuming there is not a habitable structure, it will not qualify for FHA or VA lending.  Therefore, you will have to select a conventional loan for land, or a construction loan.  Each of these options call for a larger down payment than FHA or VA financing, a 30% down payment is typical.  Land loans typically have a maximum length of 15 years, and construction loans a shorter term, as well as an adjustable rate, with a balloon payment due at the end of the term.  Therefore, whatever term period you choose, you want to make sure that your construction project will be complete by the end of the term so that you can refinance into a traditional mortgage with more favorable terms.

Infrastructure 

One of the things that a lot of buyers find alluring about the possibility of a mountain home, is the ability to live off the grid.  Options for solar energy have come a long way and Colorado receives sufficient sunlight for this is be a viable option.  However, solar power systems are expensive, and usually require a purchase of a generator for days when weather affects solar availability.  The alternative is to pay for a local energy company to run power to your property.  In either case, plan on spending about $30,000 for the initial setup.

Water and septic are also necessities in building a home.  To drill for a well in Colorado, you need to get a well permit.  Typically it is not an issue to get a well permit for household use only, however, Colorado water rights laws are very intricate, and you will want to make sure that you can get a permit on any land prior to building.  Expect to spend around $15,000 on well costs.  As for septic tanks, they too cost around $15,000.  You will also need to have permits to install a septic tank, as the county where your property is located will want to ensure the septic tank is not polluting any downstream water.

Lastly, there is the question of internet service.  Many people choose to build a mountain property and telecommute.  The most common service provider is HughesNet, which provides satellite internet service.  If you’ve never tried using HughesNet internet service, I would highly recommend finding a property on airbnb.com which offers this service.  Try out the service using the features you think may typically use.  I have personally found the service to be slower than DSL or broadband service, but it may be an acceptable speed depending on your usage.  As a bonus, if you are a night owl, HughesNet speeds improve substantially during the night hours.

Site Viability

In the mountains, an acre of land can have a widely varying value, and that value really depends on site viability for building. Generally speaking, more level fields are better for a wide variety of building, but beyond that, there are other factors to consider.  First of all, if a foundation is to be poured, tests should be done to ensure the foundation dig will not yield an underground spring, or a dig will be stopped by a discovery of hard granite below.  Also, access points from the road have differing degrees of appeal.  While some like the idea of living off a forest service road, that road may not be plowed during the winter.

Building Costs

Once the infrastructure basics are covered, the next step in the process is to begin building.  There are many avenues one can take in selecting the building.  The first being, if you truly want your home to be one of a kind, contract with an architect and general contractor to create plans and specs. The plans are essentially your blueprint of the house, your specs are how the house is to be built with details such as insulation type and fixtures.  This first option is typically the most expensive, and is generally difficult to do for less than $250,000.

The second option is to work with a builder that has predesigned a portfolio of homes.  This is typically cheaper because not only are you taking advantage of economies of scale in the design process, but the builder has already found most of the “gotchas” in building this home previously.  Therefore, estimates tend to not only be cheaper, but more reliable.

The last option is to purchase a modular home and have it installed on the property.  Modular homes have come a long way in terms of style.  No matter what your tastes, there is a modular home builder that has something close to the style you are looking for.  This is usually the cheapest option, but not without risks.  As covered in the site viability section, this option may not be available if the property is in a locale that is difficult for semi trucks to navigate.

Whatever your choices, resale ability is also a key item to consider for down the road, even if the mountains are your final destination.

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