Posted on March 23, 2012 in Colorado Living! by ginaNo Comments »
With the advent of all these wonderful on line resources to help folks sell their own land, you may be thinking why not just go straight to this option and save some money! ( And you Buyers too, may even think this is a great way to save money.)
In reality most FSBOs end up pricing their property more than those other comparables out there. Since, FSBOs don’t have access to the local multiple listing service (MLS) to run true comparables, they go by what they see advertised somewhere else with out knowing the intricacies of the comparable property and many times they can be way off. For instance side by side properties can vary quite a bit in character, tree coverage and terrain.
It is a REALTOR’s job to help guide the Seller with properly pricing the land. The three most common reasons for someone to sell their land are Death/Illness, Debt and Divorce. Working with an agent helps the Seller to have access to market trends and set realistic goals. Colorado’s vacant land market has been affected by the current economic conditions just like the rest of the real estate market across the country.. but because the fabulous interest rates, tax credits, and investment potential with short sales, foreclosures etc.. do not apply to vacant land…we are only now seeing increase in buyer traffic for vacant land.
Posted on July 26, 2011 in Colorado Land by ginaNo Comments »
If you are going to pay cash then you may not need the following info and your budget is probably based on what assetts you have available that can be tapped into. But if you are basing your budget on a ”Magic Number” (usually an amount selected because it sounds like what you should spend on land), then you probably need to run some figures so you know how much your monthly payments will be.   
Most are surprised to find out that land loans do not work quite the same as home loans, for instance length is never 30 years amortized.  Lenders will look at many factors to determine interest rate and down payment, including if you are self employed and your FICO score.  And interest rate, length of loan, type of fees, and down payment are what determines the amount of a monthly payment.
A good real estate agent can help you determine what price range you should be shopping in, if you are willing to share how much a month you can afford and the funds you have available for a down.  But to really know how much you are qualified for, it takes an expert!
Therefor I highly recommend contacting a lender and chatting a bit about thier services. Most of these folks are happy to do a quick Q&A with you to help you get on the right track. If you are so inclined they can even do the whole prequalifying route, which is really not a bad idea.  Making an offer on a property with a letter of Pre-Qualification can put you in a stronger negotiating position! Especially on those Developer owned properties; as a loan you procure on your own is as good as a cash offer to them.
Be sure to contact more then one as each has it’s own program strengths, loan costs, personality types…and it is important for you to find the one that works best for YOU!   And just because you are looking at larger acreage, does not mean you can not get a loan either. All the below can do larger tracts too as long as they have gauranteed access and a proper legal. Like Lot # Filing # in TBD Ranch.
If you so desire you can contact one of the Following Lenders that some of our customers have worked with in the past. . I do not accept kickbacks, gifts or referral fees from any lenders! The only requirement I have in order for them to get on my list here is that they have treated our customers fairly, communicated properly, familiar with the land buying process, and did not charge exorbianant fees .
 
Sunflower Bank: Shawn Sutton at the Pueblo branch :719-565-4278 email ShawnS@Sunflowerbank.com  He deals with a special land program with a super low interest rate. If you can get in with him that is great but sometimes he has met his qouta.  If so then you could still chat about the standard land loan 20% down, 12 year note.Then contact Ken Berry KenB@sunflowerbank.com or Peggy Dunn PeggyD@sunflowerbank.com 719-276-1176 (Local in Canon City)

Security Service Fed CU: Todd Hartshorn 1-719-265-2257 jhartshorn@ssfcu.org  (Credit Union, some stipulations apply to join but have never had anyone turned down for membership) Sometimes can do only 10% down but you must have A++ credit! Or the standard 20% is required, possible 25% down.

 

Farm Credit : Jason Swift 719-637-3941 ext 118. These folks usually like to do larger more agricultural type acreages, but 35 acre properties usually qualify if they are zoned Ag.

 

As far as developer/owner finance it varies with them, what they offer. I am not a developer nor am I their “sales rep” so I do not personally manage their loans. The title company prepares all their documents for them and only charges a minimal fee to close the land and loan. Probaly under $300.oo total.  If you want financing from them, then you just pick out one of their properties and fill out a credit app when you present your Offer to Purchase.  Some check your entire credit history and others just a FICO…..just depends. Right now, most are asking as little as 15% down, and the interest rate is down too. So it may be even better than what you saw in my FAQs!

 

Posted on June 13, 2011 in Colorado Living! by ginaNo Comments »

Did you know that this song was inspired by Pikes Peak? Purple mountains majesty above the fruited plains..yeah..that one…yep. Right here in Southern Colorado! 

 

All you got to do is take a drive along I-25 from Denver south and you can see for yourself. One of the most amazing features about Colorado is that if you take a three hour drive the landscape totally changes and the scenery is just…entirely different from where you just were!

 

There are massive bluffs, craggy peaks, flat top mountains and platues. Endless prairies teeming with fragile wildflowers and a myriad of grasses. Sandstone canyons carved from eons of water cutting thier way to the oceans. Famous Red Rock outcroppings and other geological formations that are sure to make you dizzy when you stand on the precipice and look down over the edge of the cliff.  Aspens and columbines. Bellflowers and Bristlecone Pines! 

 

Don’t want to forget those high alpine forests with lakes that look like a mirror, until a fish breaks the surface and makes some ripples. Oh…and sand dunes! That will burn the soles of your feet if you dare to go barefoot!

 

Here are some of my favorite links, I don’t endorse them over any others…I don’t even know these folks but I just…really…. really like pictures :)

 

Wildlfowers photos and their names >> http://wildflowersofcolorado.com/index.html

Awesome descriptions and photos too about Colorado’s Geology >> http://www.cliffshade.com/colorado/index.htm#loc_index

I like to check in here and see what is new, and I think to myself….can these photos even be real? How beautiful can one place be!! http://www.trekearth.com/gallery/North_America/United_States/West/Colorado/

 

No matter where you drive in Colorado the environment is going to thrill even the most avid sightseers. For the price of a tank of gas you can get an eyeful of this bounty. So, pack a lunch, or the kids, or the gang, and take a day to go for a drive… anywhere in Colorado! And you too will see that God really did shed his grace on us.

 

Enjoy the tours! and as always Happy Trails to You~

 

 

 

 

 

 

Posted on April 11, 2011 in Colorado Living! by ginaNo Comments »
I actually get about one inquiry a week from folks wanting to do something very similar. Guest ranches, animal rescues, spiritual retreats, vineyards, commercial agriculture, corporate centers! Anything that is not just using your land for personal use, is going to be restricted on most 35 acre properties due to the covenants and/or zoning.
But, let’s say for the sake of argument you find something that does not have covenants, or does not fall in that category because it is larger than 35 acres or it is not in one of those “subdivisions”. Well, before you spend too much time ”putting the cart before the horse”,  I want to recommend you personally do two things first.
 
First…get familiar with our state’s water laws! You can find out exactly what the state will allow you to do…where… and what is required in order to do that. Here in Colorado the Division of Water Resources has jurisdiction over how much water you can use, and what you can use it for. Contact them direclty to find out what is required for you do to …what you want to do! >> 
Second, you could start contacting a handful of counties here in Colorado and ask about the zoning. You could start in Pueblo county since this is such a wonderful place to live…and oh..did I mention? Most my listings are here.  Here is the link to this county’s planning and zoning >>
Or, if you are reading this then you are internet saavy and you already have a sense of where you can afford to be, by reviewing land available on line…so start with those counties.  What is the zoning you should be looking for? Or..if you can not find something already zoned the way you require…what areas or zonings are most likely to be changed? Is anybody currently doing what you are looking to do.. questions like that.
Notice that I say…you contact them directly. Because frankly I usually am the first one who has ever mentioned this to you and now I am the bad guy :)   Besides, only you know exactly what you want to do! I would hate to say” I thought you meant this” when you really meant that…and now you can not do what you bought your land to do! Right?
 
Because we (Realtors), can only represent what exists today not what is possible to do tomorrow. Once you find out about these two things…then you can start your shopping. But I am willing to bet you will need to expand your budget, because water rights will likely be required and water in Colorado is not cheap. More on water rights in another posting!
 
In the meantime… Happy Trails~
 
 
 
 
 
Posted on November 3, 2010 in Colorado Land, Colorado Living! by ginaNo Comments »
A little babbling creek to sit down and be lulled to sleep. A crystal clear stream to throw a line into and teach the young ones how to cast. A sweet pond stocked with fish. 
This really is one of the first features folks admit they would just love to have on thier property. But, keep in mind that Colorado is an arid state ..which we love.. because then we do not have the high humidity and bugs!  That said, it is not a common feature to find! Especially something with real honest to goodness fish in it. So, the supply and demand factor kicks and you must be prepared that it is not going to come without a paying premium. 
Let’s say you are lucky enough to find live water and it is at a budget you can afford… you now get to enjoy it… but only for it’s aesthetics. Go ahead and have a ball throwing rocks, listening to the trickling sounds, splashing around in the cool water, have a place for your horses to drink, etc. Just as long as you do not disturb it’s flow! Because of Colorado’s water laws you can’t dam it up to make a little pond, you can’t divert it to form an irrigation waterway to your garden or crops, can not use it to feed a small tank to water your animals…. or you could possibly be tampering with someone else’s right to that water.
Someone, somewhere owns the right to that water and that likely happened many years ago. For more information regarding the nuts and bolts of this see this posting http://landprop.com/blog/?m=200910
Final thought, these properties can go very quickly…and again, at a premium. When you can find water on a property at a price you can afford, and it is a true priority for you..then you likely can not afford to wait to make an offer.

 

 
 
 

 

Posted on September 2, 2010 in Colorado Land by ginaNo Comments »

Is this a good time to buy land? Is vacant, mountain or rural land still a “safe” place to put your money? What if the prices go down? what if I lose my job? what if there is a better deal out there?  The answer is….there’s no one-size-fits-all answer.

 

One thing I know for sure is my phone has finally stopped ringing from the Sellers that were just wanting to dump thier property.  During 09 and early 10 time frame it was an absolute frenzy of vacant land going on the market. Even those developers of the larger subdivisions had slashed prices and offering specials for a closing out of the developments. They have known that they are competing with the most desperate of sellers whom have already entered the market.

 

What I can also say with all certainty is that I have never, in 15 years, seen land prices this low. Will they go down more? Maybe.  But a more likely scenario is that vacant land prices have settled and are either slowy ticking up, or… rather than lower the prices, sellers are just saying “ bring me an offer”, chosing rather to see how it plays out.

 

Keep in mind that those really good quality properties, with gorgeous trees, views, access, utilities, and proximity to a NON tourist town. These are holding thier own and have as these sellers know they have a great property and were not about to give it away.  And if they did decide to part with it, those types of steals of a deals come up and then they go rather quickly.

 

In regards to is it a safe place to put your money? Well, at least you are investing in something tangible! Something you can have the satisfaction of going out and walking, seeing, smelling and touching and saying… yeah…oh good….it is still here. As opposed to some numbers on a statement in the mail that arrive quarterly.

 

Truely your most important assett is Your Time! Money you spend and then earn more of. Time…once you spend it , you can not get it back. Why not spend that time enjoying your very own property rather than running around looking at a bunch of other folks properties…land, that…in your heart… you don’t really like anyway…but just because it is a good price…you feel you need to see it.

 

To sum up…if you have been sitting on the fence AND you are in a financial position to do so….jump off that fence and get to enjoying some Happy Trails again~

 

 

Posted on September 1, 2010 in Colorado Living! by ginaNo Comments »

The other day, I asked my niece how she was doing. Her response? Just …living the dream. I love it! I actualy use this phrase all the time, but this time… it got me thinking. Why not share how some folks here are living thier dream?

 

My BFF Linda , relocated from Long Island NY, after she acquired her 154 acres for the Love of Horses. Now she is certainly living her dream. In her spare time, ( and I use this term very loosely as she has 15 horses to feed and clean up after, two ranches to maintain, and a real estate career!), makes gorgeous, absolutely stunning, and beautiful one of a kind jewelry. You know the kind that when you wear it you feel like you are super rich, and I am not talking money-wise.

 

“I fell in love with the west and took that love and created my jewelry designs and western home accents. There was such a demand for my creations that I created Rockin’ L Designs”   http://www.rockinldesigns.com/index.html

 

There there is Mark who recently stated ” I started looking at all aspects of my life and I decided life is to short to waste it away just trying to pay the bills. I was going to start sampling everything life offered and start making old dreams come true” He certainly did just that! Purchased his “final frontier” and started making bronze sculptures…much like you see in a high end art gallery…ala Remington sytle! His work is amazing and I have some pics here if you would like to see them.

 

One of his finished pieces is called No Posse in Sight.  In his own words >> “Well Diablo, looks like there’s no posse in sight. I think climbing this pass gave them the slip, but we need to keep moving like we always do. I didn’t think they would keep up this chase this long or this far, maybe they will just give up now and go back. Good thing you’re a strong mount, I knew that when I got ya 3 years ago. Most horses wouldn’t have lasted this long, being pushed so hard. Wish that man wouldn’t have tried to steal ya, then I wouldn’t had to shot him. We wouldn’t be running like this, if he wasn’t that sheriff’s boy.”

Email markjsacco@hotmail.com  Contact Mark directly for info regarding his new found passion at Mark Sacco ; Phone 972-723-1186

 

“Come see the only drive through feed store in the area. Now rain or snow won’t stop you”  Those words are from Bart, a retired firefighter who relocated from FL, and settled his family’s roots right here in Colorado.
He started a business called Family Feeds, and he did it right in the midst of a recession.  As the name implies it is a family business and he and his family, carry livestock feed! But they also have wood stove pellets, wildlife foods, and all sorts of odds and ends that one living in the mountians might need in a pinch! 

This place is amazing, and busy as all get out. This very successful business is located at 303 CR 3A, just south of US 50 on the Royal Gorge Blvd. Contact Bart for more info like current prices and such at 719-275-1421 or meail him at flybart22@wildblue.net

 

The above folks have grit and determination, and they also were willing to follow thier dream! If you are reading this, then perhaps you have given a great deal of thought to it too. So, how are you different? And are you ready to make that leap and follow your dream?

 

Come on over and start enjoying your own Happy Trails!

 

Posted on August 18, 2010 in Colorado Land by ginaNo Comments »

If the property you are viewing is full of cow patties, then likely there is a cattle grazing lease on the ranch. Yes, this means cows will be roaming freely about the property. But before you say not on my land! Consider that whomever is the grantor of the lease gets a HUGE tax break as their property becomes zoned a different type of agricultural. Literally pennies per acre, as opposed to thousands of dollars a year! Now, you are interested, right? It really is quite interesting how it works as some of the ways things are done here go back generations!  

The folks with the cattle pay a specific amount per acre, (usually not a great deal), for a specified amount of cattle, and only keep the cattle there for a designated amount of time. Price and terms are negotiated between the landowner and folks that own the cattle, and will depend on the quality of the ground and how long the cattle are around.

Another interesting note: Here it is open range, so if you live out of the city limits, then you have to fence the cows OUT not in. Seriously! Sometimes you are driving down the county road and thinking whose cows are these and aren’t they afraid someone will steal them? Well, they control where the cattle graze with salt licks and water supplies, and as far as stealing them…umm…that thar is considered cattle rustling…and the laws on the books are literally so old regarding rustling…that they may just hang ya!

You may also be thinking, well…I will just put up a fence and graze my own cows/horses/alpacas/etc.. and still get the Ag status. Whoa pardner…don’t work like that. The county has specific rules about how many head of cattle/other livestock can be on how many acres, and other such regulations. I have not seen this ever be very successful, but if the smell of cow patties wafting in your kitchen window on a warm summer day does not sound like your idea of fresh Colorado air…don’t despair you can actually fence out a portion of your property and still be considered participating in the grazing lease! Just be sure to check with the county officials to find out how much they allow.

As Always~ Happy Trails~

 

 

 

 

 
 
 

 

 
 

 

 

 

Posted on April 8, 2010 in Colorado Living! by ginaNo Comments »

Well…that may be an old saying for the month of March …but for us, it was completely opposite!!

There was plenty of moisture dropped on us here in Colorado and we are looking forward to a nice green summer! While that wild weather ride may have cause you to postpone any plans to visit, we are most assuredly enjoying sunshine these days! The daffodils, crocus and other bulbs are going into full bloom, so now may be a good time to schedule that trip.

 

While you are here to look for property you will find there is much to do! Just in Pueblo alone, the PBR is hosting the Wild Wild West Fest May 12-16, 2010. The Arkansas River in the spring attracts kayakers, boaters, and even river surfers! The Colorado River Surfing Association is planning another International Surfing Day celebration at the Pueblo Whitewater Park.

And after years and years of Lake Minnequa sitting un- utilized, with the support of the Denver Broncos..a sports center is staking it’s claim at Lake Minnequa!  Almost 320 acres are being turned into a recreation and open space area, with playground and picnic shelter. The lake is slated to be stocked with fish, and a trail is already being constructed to allow folks to walk or hike around it.

In Canon City area, the 72nd Annual Music and Blossom Festival is Aril 30 to May2nd. It boasts food and craft booths, a big parade, carnival and of course..music! And you don’t need to be a kid to enjoy the chocolate walk, and other entertainers that will be delighting folks throughout the Park.

And for us Moms…Mothers get in free to the Royal Gorge on Mothers Day.

Westcliffe once again hosts the Springtime in Rockies on May 29. Kick off your day with a pancake breakfast, then peruse the booths at a 2 day annual yard sale, follow it up by enjoying the Wet Mt Community Parade and finish the afternoon by attending the live theatre performance of Route 66.

Of course this is just a small sampling of what is happening around this neck of the woods, and there is sure to be something to appeal to all age groups and tastes. Visit the appropriate county’s chamber of commerce, or call me if there is some specific activities you are into and would like to have links or information about.

In closing, just remember with interest rates still at historic lows, the stock market increasing daily, the home sales market improving….it is increasingly proving that there is no time like the present to find that dream property! And frankly, it will be a long time coming before the bargains, the wheeling and dealing, the steals of the deals, that we are seeing now will happen again.

So…saddle up…and head on out to pursue that dream…before it gets out of reach again.  

See you on the Happy Trails~

 
 
 
 
 
 
 

 

 

Posted on March 29, 2010 in Colorado Land by ginaNo Comments »

 

OK , now don’t shoot the messenger here…but I can almost guarantee it is not going to be the first number that popped into your head! But wait! YOUR land is the best, the greatest…most beautiful..most desirable property out there! Well of course it is, or you would not have made the leap and signed those papers when you bought it :)

 

With the caveat that in Colorado, the law does dictates that the seller has the final decision on what they want for their land, I can say with most assurance that the value of your land .. is based entirely on what a buyer is willing to pay for it!

 

We do use some benchmarks to get an actual and current market value. Let me share how I determine what that current market value is. I use a three legged approach, by using only those properties that offer similar features, views, trees, amenities, water (if you are lucky to have it), utilities etc.

 

First I use any past sales for the last 6 months, and if we can not find at least four or five sales, we will go 12 months (which for 35 tracts of mountain land will likely be the case). I use past sales, mostly because this is what an appraiser will do when you sell your land to a buyer, as the buyer’s lender will require it. If there is no lender involved it is still a great indicator of the current buyers mind set.

 

Second, I check and see what else is on the market currently. With rural, vacant land not all properties are posted in the multiple listing services. So it is important to include local developer properties, perhaps FSBOs, and even smaller independent real estate companies who don’t have access to listing services. Any and all property that is in direct competition with your property will be factored in.

 

Final and the most important aspect, is the psychology! Is it a Buyer’s market? Are you competing with highly motivated sellers? Are there five properties on one road we need to drive by when showing yours? High percentage of properties on a particular ranch on the market at one time? Are there some very rare aspects of your land we can consider? Water, walk into public lands, expansive snow capped mountain views? Is “time to sell”-vs.- “top dollar”, most important to you?

 

What you will notice about the above process (other than it is it is a bit different than a home valuation process), is that I did not mention how much someone wants to net, or make on.. their land. There is no mention of a “need to break even” amount, if there was interest paid on a note, or if there are improvements that were made that they are trying to recoup costs on. Fact is, if I do not already know I will not look up what a seller may have initially paid for a property either.

 

Because frankly folks, although those factors may be very important in determining whether or not now is the best time to put your land on the market, they really do not have an impact on what any current market will bear. Economic conditions, more aggressively priced similar properties, over all “buyer traffic”, and the amount of property available (supply and demand), that may have features and benefits that are along the same line as your property, are much more a factor in determining market value.

 

Most any agent can do factual checks from a computer, but when it comes to the process of finding a realistic market value for your land, it does make a difference to find an agent with experience in marketing similar properties in the particular area where your land is located.

 

If you happen to have property in Pueblo, Custer or Fremont Counites, feel free to contact me directly for a personalized and up to date, market value on your property.

And as always…Happy Trails~

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