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Paying off my house and the BIGGEST load of CRAP in real estate.

Aug 30th 10

filed under: Castle Rock Homes, Highlands Ranch Homes, Homes for Sale, Horse Creek, Lone Tree Colorado Homes, Newlin Meadows, Pradera, Real Estate Answers, Real Estate Stats, Rental Homes, Stonegate, The Timbers

Are tax deductions worth the interest?

Should you pay off your mortgage? I think most people should.

Today I’m talking about mortgages, paying them off and what I consider to be a load of crap pushed on home buyers by the lenders of America, accountants and YES the real estate brokers.

I’ve never understood why everyone says “oh you have to have a mortgage because you get the tax write off.”

I say BS. Wouldn’t it be better to have a paid for house with no interest payment and just pay the tax?

Here’s my way of thinking and no it didn’t originate from me. I was raised by two depression era grandparents that were basically in a steady savings cycle preparing for the next GREAT DEPRESSION.

(BELOW-I may be off a little but I hope you are getting the picture. I’m going off memory as I did not go into the basement and dig out my tax returns to write this post.)

Two years ago I remember looking at my year end taxes and seeing that my wife and I had paid around $14,000 in interest to the bank over the year. I also noticed that my WONDERFUL tax deduction was around $2,400.

So basically I have to pay a bank ~ $14,000 in interest to keep from sending the government $2,400. Is this the Great American Home Tax Deduction everyone says is so wonderful? Not to mention over the life of these mortgage loans you pay hundreds of thousands in interest to get in my opinion “NOT MUCH” in the way of a deduction.

It looks like a load of goods the banks & government put together to make us feel batter about all the interest the banks charge us.

Personally I think I would rather send the government their tax and just keep all my interest. Besides living in a paid for house has got to be a GREAT FEELING. Think about it. You are recession proof. If you lost your job you could easily go work at an hourly job and make the yearly tax and insurance payments. Hopefully it would only be temporary..right?

Vacations Paid For in Advance

I talked to my accountant about ways to payoff our house and told him that over our lifetime it would save my wife and I nearly $200,000 in interest. He told me “oh, well if you do that you won’t get your deduction.” I explained my theory to him and he still tried to tell me I needed this deduction. When I asked repeatedly why I have to have this deduction he couldn’t give me a real answer. He like so many others in the country have been brainwashed into thinking that we MUST have our deduction. Again BS.

Pay your house off and live like a Prince or Princess and have your income to save, invest and SPEND as you wish. Can you imagine that?

The other side is my investment adviser. He says “Steve you need to be putting money away for retirement.” Well, we are still saving. He says all that money in the house could be earning more money in the market. REALLY. Have you seen the market? I don’t know about you but a few more of these every 10 year implosions and I’m done with “the market.” I have highly paid professionals begging for alternatives to the stock market. They all love real estate right now. YEAH.

If you have your house paid for at an early age and have the remaining years of your working life to save, invest and actually enjoy a paid for vacation how would that feel? I think it would feel pretty damn good wouldn’t it.

No matter how you do it I think paying off your home as quickly as possible is the best way to go. Here is a recent article to help prove that it isn’t just me thinking this way. A lot of Americans are starting to see the benefits of being free from all debt and especially the home mortgage.

I think this guy, Dave Ramsey, has a lot going on in his debt free classes. A few years ago my wife and I went to his Financial Freedom class in Colorado Springs. We were basically on his program without knowing it. His word is true and if you stick with it you too will live like no one else so you can then live like no one else. Think about it. If you live frugally for several years to payoff all your debt it will allow you to live the rest of your life debt free. Plus along the way you will learn tricks (personal self control) that you apply once you become debt free that will save you money after you become debt free. In our society putting off our instant gratification so we could possibly live a better and more financially rewarding life in the future is a TOUGH sell.

I’m sure there are people out there that have different circumstances, needs and investment goals so this may not apply. But I believe for the average middle class person/family this is a viable option and should be explored. Just a few years ago talking about this to friends and clients was a dead end and they all thought I was a crazy person but now they seem to be coming out of the wood work to share their new goals of paying off their house.

Steven Beam is a CRS Realtor in Parker, Colorado. See client testimonials.

Steven Beam Social Media Connect.

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Tags: financial freedom, home tax deductions, parker colorado, payoff home mortgage, payoff loans, real estate, tax deductions

posted by Steven Beam // 1 Comment »

Townhome for sale in Parker Colorado. Video. Mann Creek Drive

Aug 3rd 10

filed under: Videos

Price $157,000

FULL MLS Sheet Here.

19440 East Mann Creek Drive, Parker Colorado 80134

Tags: 19440 mann creek drive, Homes for Sale, parker colorado, real estate, stroh ranch, video

posted by Steven Beam // Please leave a comment.

19440 East Mann Dr. Townhome for sale in Parker Colorado $ 157,000

Aug 3rd 10

filed under: Just Cool Photos

19440 east mann creek drive

Parker colorado real estate

See and download the full gallery on posterous

Posted via email from Steven Beam’s posterous

Tags: 19440 east mann creek drive, crs, for sale, parker colorado, RE/MAX, real estate, realtor, steven beam, townhomes

posted by Steven Beam // Please leave a comment.

Aurora Colorado Home for Sale – 4054 South Atchison Way 80014

Jul 27th 10

filed under: Homes for Sale

Aurora Colorado Home for Sale

Everything in and out of the home has been replaced with new materials. An American Home Shield Home Warranty has already been purchased for the new buyer.

See the Virtual Tour of 4054 South Atchison Way, Aurora Colorado

Asking Price $265,000

3 Bedrooms and 3 bathrooms

Base (wide) Moldings, trim
New carpet throughout house
Solid doors throughout house
New hardware throughout the house
New windows through out
New Furnace & AC
New vents and registers throughout house
Tankless hotwater heating system for entire house
Interior paint – three tones (trim, walls, ceiling) throughout house
Entry – custom front door, 18” tile flooring, new lighting (flush mount & spot lighting)
Kitchen – 18” tile flooring, cabinets, coffered ceiling, recessed lighting, granite tile counter tops, new stainless steel appliances, stainless steel sink & faucet, new disposal, custom window coverings
Front Porch – off of kitchen, manmade weather proof materials, lighting
Dining Room – 18” tile flooring, new light fixture
Family Room – new carpet, lighting, gas fireplace w/ remote controls
Downstairs Bathroom – tile flooring, new shower, new vanity, new toilet, new sink/
faucet, lighting, fan, added door to patio, oversized mirror
Downstairs Bedroom – new carpet, lighting, doors, window, custom window treatments
Wet Bar – converted downstairs laundry room to wet bar w/ dishwasher and beverage cooler
Basement – finished basement w/ recessed lighting,windows, custom cabinetry for
CD’s, videos and albums. Laundry room and utility room.
Upstairs Master Bedroom – carpet, doors, custom (remote control) window coverings, Biometric in-wall safe, ceiling fan, lighting
Master Bathroom – tile flooring, new doors, new vanity, new sink, new faucet, new toilet, new shower, new lighting, custom closet organizer, oversized mirror
Master Bedroom Exterior Deck – rebuilt using weather proof, zero maintenance man made materials
Guest Bedroom – new carpet, new doors, ceiling fan, lighting, window, custom window coverings, in-wall safe
Guest Bathroom – new tile, new tub, new shower doors, new vanity, new sink, new faucet, new toilet, new window, recessed lights, oversized mirror
Upstairs walk-In Closet – new door, new carpet, custom closet organizer, new light
Garage – new garage door opener w/ exterior touch pad, lighting, paint, painted flooring
Exterior paint – two tones
New Roof – asphalt
New gutters and down spouts
New mail box
New sprinkler system + water lines run to all pots on patio’s
New landscaping front and back yard
Rod Iron – fence & gate to backyard
New cable for TV
New Phone lines
New landscape lighting
Updated electrical service
Updated switches and outlets throughout the house

NEXT DOOR! For Sale-4054 South Atchison Way, $220,000.

: Wet bar

: Patio

: Master

: Master Bedroom

: Master bath

: Breakfast Nook

: Kitchen

: Family Room

: Family Room

: Patio

: Backyard

: Dining Room

: Formal Dining

: Deck off Master bedroom

: Guest Bedroom 1

: Guest Bedroom 2

: Guest bath 2

: Guest bath

: Hot Tub

: Aurora Colorado Home for Sale

: Aurora Colorado Home for Sale

: Aurora Colorado Home for Sale

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Tags: 4054 atchison way, aurora colorado, home for sale, real estate

posted by Steven Beam // 1 Comment »

Idyllwilde in Parker Colorado Real Estate Market Report

Jul 8th 10

filed under: Real Estate Answers, Real Estate Stats

This is the real estate & homes sold market report for Idyllwilde and Reata North in Parker Colorado. These are homes that sold and closed from January 1, 2010 to June 1, 2010.

This homes sold report does not inclde FSBOs so there could possibly be other sales.

Idyllwilde is a neighborhood in Parker Colorado that was developed and built by Village Homes. Twice winning the neighborhood of the year for the Denver Metro area. Amenities such as a great trails, parks and a massive pool and Clubhouse make Idyllwilde a definite MUST SEE for any Parker Colorado home buyer.

Home prices in Idyllwilde range from the MID $200’s to well over $500,000.

“It’s been a GREAT year so far for Idyllwilde. In all of 2009 there were 16 homes sold and closed. We are almost at 2009 levels for only six months in 2010 with 15 sold and closed homes in Idyllwilde.“

Market Report for Idyllwilde

Total Homes sold in Idyllwilde from Jan 1, 2010 to June 1, 2010 = 15
Average Total Days on Market = 104
Average NET Sales Price = $346,643 (NET is after any seller concessions)
Average Original Asking Price = $376,913 (asking price before any price reductions)
Average Asking Price at Time of Sale = $347,591
Average Price Per SQFT = $143
Lowest NET Sales Price = $265,000
Highest NET Sales Price = $514,500
Highest Original Asking Price = $614,900
NET Volume Sold = $5,199,650

Canterberry Crossing Real Estate Homes Sold Market Report

Idyllwilde Home Currently For Sale – VIDEO

Article about a new listing in Idyllwilde by Village Homes

Fun things to do in and around Parker Colorado

Tags: Homes for Sale, idyllwilde, market report, parker colorado, real estate, reata north, sold

posted by Steven Beam // Please leave a comment.

Canterberry Crossing and Villages of Parker Market Report

Jul 1st 10

filed under: Just Cool Photos

No matter whether you love or hate math we all love to look at the REAL numbers for homes sold in our particular neighborhood. Below you will see a serious look at the numbers for Canterberry Crossing and The Villages of Parker in this real estate market report. All the homes sold in Canterberry or The Villages of Parker will be represented here UNLESS it was a FSBO. For Sale by Owner or an outside non-MLS builder sale. There are a very, very few of these in Canterberry or The Villages of Parker since the neighborhoods are both nearly sold out.

See every home CURRENTLY for sale in Canterberry Crossing and The Villages of Parker.

Full Spreadsheet Here!

Steven Beam is a Parker Colorado CRS Real Estate Broker.

This will be a comparison between the sales from January 1, 2010 to June 1, 2010 and ALL of 2009 sales .

Homes Sold in 2009 = 117 versus 50 for the first half of 2010.
Average Days on Market in 2009 = 100 versus 79 DOM in the first half of 2010.
Average Original Asking Price in 2009 = $349,208 versus $330,039 in 2010 so far. Original asking price means BEFORE any price reductions.
Average Asking Price at Time of Sale for 2009 = $ 328,459 versus $311,716 for the first half of 2010.
Average NET Sold Price for 2009 = $325,014 vs $312,772 for 2010. NET sales price is what the seller received after any seller concessions to the buyer.
Average $ Per Sqft Sold in 2009 = $136 vs $134 in 2010. Price per sqft is figured on the sqft above ground not the basement.
Average NET Sales Price vs Average Original Asking Price 2009 = 93.07 vs 94.77 – Tells us sellers are now pricing homes more in line with the market. A little more anyway.
Lowest NET Sales Price in 2009 = $180,000 vs $204,900 in 2010.
Highest NET Sales Price in 2009 = $625,000 vs $515,000 so far in 2010.
Total NET Volume Sold in 2009 = $38,026,693 vs $15,638,583 for the first half of 2010.

Basically even though the market seems to be moving right along in 2010 (especially before April 30th when the tax credit was in play) this shows us that so far Canterberry and The Villages of Parker are a little behind 2009 at least for now. We will see what happens over the next 6 months.

Tags: black bear, canterberry crossing, for sale, golf course, homes sold, market report, parker colorado, real estate, villages of parker

posted by Steven Beam // 1 Comment »

Housing Market News for Denver and Colorado

Jun 29th 10

filed under: Castle Rock Homes, Highlands Ranch Homes, Homes for Sale, Real Estate Answers, Real Estate Stats

Here are some quick links to local and National news articles pertaing to the housing & real estate market. I thought you might enjoy.

U.S. home prices rise 0.8% in April: S&P – Prices have moved up 3.8% in the past year, marking the third consecutive year-over-year gain. Prices rose in 18 of the 20 metropolitan areas tracked by Case-Shiller in April compared with March. Over the past year, prices rose 4.4% in Denver.

Additional articles that you may find of interest:

Tags: breaking news, denver colorado, douglas county, homes, Housing, market, mortgage, Parker, real estate

posted by Steven Beam // Please leave a comment.

Pradera Golf Club Real Estate Market Report

Jun 8th 10

filed under: Pradera, Real Estate Answers, Real Estate Stats

Custom Home for Sale in Parker Colorado

Pradera Real Estate in (Parker Colorado) Real Estate Market Report

January 1, 2010 to June 1, 2010

This is the homes SOLD report for Pradera Golf Course Community. All homes sold and closed should be shown here except for possibly FSBO’s and may a builder sale.

See every home for sale in Pradera Here.

Total homes sold in Pradera Golf Club = 10
Highest Priced home sold = $1,095,000 ( Steve Beam sold this one!)
Lowest priced home sold = $439,900
Average NET Sales Price = $627,745 (sale price minus any sales concessions from the seller)
Average Original Asking Price = $688,857
Average Asking Price at time of offer = $658,842
Average Days on Market = 129
Average Price per SQFT = $161
Average Price Per SQFT FINISHED AREA = $127
Total Sale Volume = $6,277,453

Video helps Sell Million Dollar Home in Pradera

2009 Yearend Sales Report for Pradera Golf Club

Stonegate Neighborhood Homes Sold Report

Tags: Homes for Sale, market report, parker colorado, Pradera, pradera golf club, real estate, sold

posted by Steven Beam // 1 Comment »

Bradbury Ranch and Auburn Hills Homes Sold Report

Jun 3rd 10

filed under: Homes for Sale, Real Estate Answers, Real Estate Stats, Stonegate

This real estate market report for Bradbury Ranch is for January 1, 2010 to June 1, 2010. This repost shows all the homes sold and closed during that period.

Bradbury Ranch is another “favorite” Parker Colorado neighborhood. A few years ago Bradbury Ranch grew in size with the addition of Auburn Hills across Mainstreet. The new sections added several hundred homes to the neighborhood.

See all homes for sale in Bradbury Ranch HERE.

Being located in the heart of Parker Colorado at the intersection of Jordan Road and Mainstreet make this an obvious chioce for home buyers in the Parker CO area. The new Chambers Road extension also allows for super quick access to I-25. Bradbury Ranch has a beautiful pool area and extensive open spaces that home buyers also seek.

Top 10 List for Parker Colorado 2010. I’ve already blown a few!

See the Full Spreadsheet Here