Archive for October, 2010


Broomfield Home Buying Tips: Research The Neighborhood!

Broomfield CO Homebuying InformationWhat is it you are looking for when you are ready to buy a home in Broomfield Colorado?  Sometimes it is what you want to stay away from so that you may  avoid unpleasant surprises.  Buyers should always research the neighborhood before buying a home. And a tool that most home buyers find invaluable is the Internet.  Combine the ability you have to research information with a great agent who works hard for you, and you have the best chance of getting the home of your dreams.  Want to discover some interesting and sometimes alarming statistics about your new neighborhood before you commit?  There are numerous websites covering many different topics:

Local weather

UV index

Air quality

School district ratings and test scores

Crime statistics

Employment data

Areas of highest appreciation

Local income & education levels

Toxic waste sites

Sex Offenders


Relocation information Broomfield ColoradoReading up on some local information will not only help you avoid potential problems, hazards, or other conditions that might affect your enjoyment of your new home,  it could also protect your investment by helping you avoid locations that might adversely affect your property’s resale value in price,  or make it more difficult to sell in the future!

The people who already live in the areas in which you are interested in are also a great source of information.  You can have your agent ask them about the neighborhood.  Is it safe?  Quiet?   Located far from any  potential hazards and undesirable operations?  Getting the answer to these questions could potentially prevent you from making a mistake, and usually this kind of information is something someone looking to sell a home in Broomfield Colorado would prefer you did not know.

These 5 websites will be quite helpful to you, and as always, feel free to call us at Homewerks if you have a question, or you would like to see some Broomfield CO Homes For Sale!


Schools And Walkscore Affect Broomfield CO Homes For Sale

Broomfield Community InformationTwo things that affect the focus of anyone with a family buying a home in Broomfield CO is the quality of schools and the walkability of the area.  Great accessibility to community facilities like parks, pools, tennis courts, running and biking trails, as well as access to local retail and restaurants is a high priority for a lot of families.  Click here to see the Walkscore for Broomfield CO.

On October 6, 2010 the International Walk to School Day encourages students to walk, bike or ride a scooter to school.  It is hoped that this will be fun and healthy for students and that they will continue to walk to school all year long.

For more information, please contact your local Broomfield school or log on to or contact Mary Thatcher, HHS Public Health Educator, at (720) 887-2213 or

The proximity to a quality school is so important to a lot of  homebuyers in Broomfield Colorado and for this reason alone may choose to rent close to a preferred school until the right home becomes available, especially if they’re running out of time before that first day of the school year.

This demand, just as any other supply and demand situation, pushes home prices up by as much as 10 to 28 percent when families are looking to buy a house for sale in Broomfield Colorado, and the median prices of homes in Broomfield are generally higher than in areas where there is not the presence of top rated schools.  The National Education Association’s study on student achievement reports the close proximity of affordable housing in stable neighborhoods remains a key element to a student’s success, and homebuyers also often consider location to jobs, shopping, freeways, and property taxes among other things when searching areas with high ranked school.

For more information on Walkscore go to How Transportation Affects Broomfield CO Homes For Sale.  Or you can call Shaun Werkele at 303 -250-4735 or Janelle Werkele at 303-668-3111 and we will be glad to help you with any real estate question you might have.  If you know of anyone looking to buy a home in Broomfield Colorado or you yourself are thinking of selling a home in Broomfield CO, please keep us in mind.



Broomfield CO Homes That Do Not Sell…Why?

Bedroom View of Home for Sale in Broomfield COHere is the simple, sometimes ugly truth about homes for sale in Broomfield Colorado that do not sell. Broomfield is a great market to buy, so if you can not sell your home, there must be a reason. Here are a few ideas for you to ponder:

Simply, they are not updated. The condition is not great, and they are not priced to accommodate for that.

Your house stinks, and I mean literally it does. I had a buyer walk out of a home last week just because she would not tolerate the smell of cat urine in the basement.

Your price is not what we call “fair market value,” in other words, it is not in the running. When a buyer’s agent takes a buyer into a home for sale, if they have been looking for a while, it is very obvious to the person looking to buy a Broomfield CO house. I would recommend if you are thinking of selling your home, that you have an agent check the sold information for your area so that you have an idea of what is a good price for your home.

Broomfield High School ExteriorThe house is not in a great area. Does it back up to a busy street? Are all the amenities not very convenient? Things like how close the neighborhood grocery store is can have a huge impact on a buyer’s decision. The quality of the schools can have a huge impact on the resale value of houses in your neighborhood.

Staging Sells Homes For Sale in Broomfield COAre distressed homes, houses that are in foreclosure or have been foreclosed on, for sale having an effect on the sales prices in your neighborhood? This is a problem that is pretty difficult to overcome. But if you have your home priced to the condition it is worth in the market, then you are far ahead in putting your home for sale in Broomfield Colorado. Or anywhere in any city out there today. Please keep in mind the “ugly truths” I just mentioned above.

Feel free to call us if you would like a professional opinion of what your home is worth or you need more information on buying a house in Broomfield CO, and how you can sell it more effectively and quickly. We would be glad to help!


Buying A Home For Sale In Broomfield CO With An FHA Loan

If you are thinking about buying a home for sale in Broomfield CO you more than likely will use FHA loan financing for your mortgage on your home.   What this means is that the type of loan you have is insured by the government if you lose your job or you experience a severe hardship that creates a situation where you go into foreclosure.  The Federal Housing Administration is responsible for helping insure more than thirty five million home mortgages.  FHA loans are mortgage loans which are insured or guaranteed by the government.  The advantage of using an FHA financing for Home Buyers is those who otherwise would not be able to get a mortgage to be able to be approved for a mortgage with a lower down payment and in some cases much lower rates than would otherwise be possible.

FHA insured loans are often the best choice for people who are first time home buyers in Broomfield CO and have less money for a down payment than what is referred to as conventional financing.  FHA loan financing is not limited to first time homebuyers, that is just what the program was created for, the encouragement of home ownership.  The main requirement of  FHA is that you not have more than one FHA loan financed at a time.

FHA insured loans have some very attractive benefits.  It is possible to get a mortgage with a low down payment, in fact, most down payments are 3.5% with FHA insurance.  An FHA insured mortgage also helps the borrower by giving them options that wouldn’t be available with other financing in cases of hardship so that they can stay in the home rather than have to face foreclosure.There are four different types of FHA insured loans that you can apply for. A fixed rate mortgage is the most common and gives the borrower the security of knowing that their rates will not change. The interest rate on a fixed rate mortgage will stay the same for the duration of the loan so the borrower knows exactly what the amount of monthly payments will be.

An adjustable rate loan is an option that works well for first time home buyers or others who do not have a lot of money at the beginning of the loan period. An adjustable rate loan typically has lower payments for the first year or more but the interest rate is not locked in, so it can change throughout the life of the mortgage.  The interest rate on payments is affected by the rate changes in the market.  The interest rate of the mortgage loan can change up to one or two percent in any given year and there can be as much as a five or six percent difference throughout the life of the loan.  These loans are not for anyone looking to buy a house in Broomfield CO and live there for thirty years.  They are for short term situations only.

Another option for an FHA loan is a rehabilitation loan that is a program for those who want to buy a home that is in need of some repairs. This loan option will combine the mortgage loan with the amount needed to make repairs. This allows you to buy a home and then make needed repairs but to still have just one mortgage payment to make rather than a mortgage payment and another loan payment for the amount of the repairs.  I like to think of these loans as a construction loan that you finance into the mortgage.  Kind of like financing 105% on your home loan.

You can also use a gift or second financing option for all the closing costs.  These are the charges and fees that you pay to set up your home loan on your Broomfield CO home for sale.

An FHA insured loan is much better than a sub prime loan because the interest rates are much lower. There are also high penalties associated with refinancing a sub prime loan that are not imposed with FHA loans. Lenders are more comfortable giving you a lower interest rate with an FHA loan because even though your credit may be the same as someone with a sub prime loan, your loan is insured by the government and they do not have as big a risk of losing money if you fall on financial difficulty.

An FHA insured loan requires you to find a lender that will approve the loan and then they will apply to the government for the FHA insurance.  You will then be required to pay an upfront premium as part of your closing costs as well as having to pay annual premiums.  As I mentioned earlier, these premiums are then used in case you default on your mortgage then the claim to cover the costs of reselling that home is paid to the lender.

Click on changes in FHA mortgage insurance to read more.

As always, feel free to contact Janelle Werkele or Shaun Werkele for any question you might have about FHA loans and how it would be most beneficial to you, or if you are thinking about buying a home in Broomfield Colorado or you would like to sell a home in Broomfield Colorado!